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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 10,391 $ 10,379
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 653 799
Provision for loan and lease losses 3,000 1,825
Amortization of intangibles 217 241
Net accretion of loans (1,174) (1,442)
Accretion on bank premises (31) (26)
Accretion on deposits (75) (191)
Accretion on borrowings (86) (143)
Stock-based compensation $ 755 479
Gains on sales of investment securities, net (506)
Gains on sale of loans held for sale, net $ (35) (114)
Loans originated for resale (1,916) (8,468)
Proceeds from sale of loans held for sale 1,951 7,190
Net loss on sale of other real estate owned 115 112
Increase in cash surrender value of bank-owned life insurance (612) (386)
Amortization of premiums and accretion of discounts on investments securities, net 417 518
(Increase) decrease in accrued interest receivable (58) 187
Increase in other assets (7,137) (49)
Increase (decrease) in other liabilities 960 (2,388)
Net cash provided by operating activities 7,335 8,017
Investment securities available-for-sale:    
Purchases $ (19,135) (1,543)
Sales 9,537
Maturities, calls and principal repayments $ 24,295 6,673
Investment securities held-to-maturity:    
Purchases (1,000) (9,986)
Maturities and principal repayments 5,439 2,749
Net redemptions (purchases) of restricted investment in bank stocks 1,125 (1,339)
Net increase in loans (164,130) (100,708)
Purchases of premises and equipment (941) (478)
Proceeds from sale of other real estate owned 738 126
Net cash used in investing activities (153,609) (94,969)
Cash flows from financing activities    
Net increase in deposits 102,180 20,595
Advances of FHLB borrowings 50,000 90,101
Repayments of FHLB borrowings (75,000) (60,363)
Cash dividends paid on common stock (2,312) (2,247)
Cash dividends paid on preferred stock (22) $ (28)
Redemption of preferred stock (11,250)
Proceeds from exercise of stock options 42 $ 590
Net cash provided by financing activities 63,638 48,648
Net change in cash and cash equivalents (82,636) (38,304)
Cash and cash equivalents at beginning of period 200,895 126,847
Cash and cash equivalents at end of period 118,259 88,543
Cash payments for:    
Interest paid on deposits and borrowings 6,492 4,724
Income taxes $ 10,235 $ 5,500