XML 20 R8.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net income $ 24,403 $ 22,297
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,556 3,247
Amortization of intangible assets 1,442 919
Net accretion on securities, loans and borrowings (911) (595)
Stock-based compensation 1,219 1,151
Provision for loan losses 1,341 623
Amortization of mortgage servicing rights 131 104
Income from bank-owned life insurance policies (355) (273)
Net (gain) loss on sale of loans and other assets (68) 176
Change in other assets and liabilities (5,465) (5,635)
Net cash provided by operating activities 25,293 22,014
Investing activities:    
Proceeds from maturities of available-for-sale investment securities 18,894 36,670
Proceeds from maturities of other investment securities 12,297 6,404
Purchases of available-for-sale investment securities (12,255) (153,211)
Purchases of other securities (4,612) 0
Net change in loans (22,031) 70,013
Cash paid for acquisition, net of cash acquired of $0 and $0, respectively (575) 0
Purchases of premises and equipment, net (2,639) (3,321)
Net cash used in investing activities (10,921) (43,445)
Financing activities:    
Net change in deposits 245,588 191,283
Net change in borrowings, net of payments of $0 and $0 (267,600) (142,300)
Issuance of common stock 932 2,941
Purchases of treasury stock 0 (9,125)
Sales of treasury stock 5,022 2,247
Cash dividends paid (13,605) (12,174)
Tax benefits from share-based payment arrangements 594 696
Net cash (used in)/provided by financing activities (29,069) 33,568
Change in cash and cash equivalents (14,697) 12,137
Cash and cash equivalents at beginning of period 153,210 138,396
Cash and cash equivalents at end of period 138,513 150,533
Supplemental disclosures of cash flow information:    
Cash paid for interest 2,863 2,642
Cash paid for income taxes 7,065 5,707
Supplemental disclosures of noncash financing and investing activities:    
Dividends declared and unpaid 13,610 12,306
Transfers from loans to other real estate $ 390 $ 521