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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net income $ 168,641 $ 150,717 $ 103,812
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 15,749 16,024 14,398
Amortization of intangible assets 18,155 16,941 5,479
Net accretion on securities, loans and borrowings (9,404) (6,619) (4,405)
Stock-based compensation 6,064 5,137 4,783
Provision for loan losses 10,837 10,984 8,076
Provision/(benefit) for deferred income taxes 2,663 (28,692) 13,066
Amortization of mortgage servicing rights 449 499 518
Unrealized gain on equity securities (657) 0 0
Loss on debt extinguishment 318 0 0
Income from bank-owned life insurance policies (1,579) (1,586) (1,505)
Gain on sales of investment securities, net 0 (2) 0
Net (gain)/loss on sale of loans and other assets (80) 181 (837)
Change in other assets and liabilities 10,252 26,090 (7,614)
Net cash provided by operating activities 221,408 189,674 135,771
Investing activities:      
Proceeds from maturities, calls and paydowns of available-for-sale investment securities 140,784 157,278 109,638
Proceeds from maturities and redemptions of other investment securities 5,867 30,116 8,703
Purchases of available-for-sale investment securities (78,131) (90,380) (65,966)
Purchases of equity and other securities (31) (13,302) (4,612)
Net (increase) decrease in loans (35,414) 164,846 (159,871)
Cash paid for acquisition, net of cash acquired of $16, $52,132, and $0, respectively (1,737) (107,414) (575)
Settlement of bank-owned life insurance policies 0 1,779 3,127
Purchases of premises and equipment, net (12,646) (10,819) (12,442)
Real estate limited partnership investments (1,197) (733) 0
Net cash provided by/(used in) investing activities 17,495 131,371 (121,998)
Financing activities:      
Net change in deposits (122,049) (79,940) 202,480
Net decrease in borrowings, net of payments of $95, $81,544 and $0 (47,339) (144,809) (155,100)
Payments on subordinated debt held by unconsolidated subsidiary trusts (25,207) 0 0
Issuance of common stock 6,443 4,563 10,543
Purchase of treasury stock (298) (3,306) (3,470)
Sale of treasury stock 12,561 10,060 8,888
Increase in deferred compensation arrangements 298 3,306 0
Cash dividends paid (71,495) (62,305) (55,048)
Withholding taxes paid on share-based compensation (1,021) (1,433) (1,419)
Net cash (used in)/provided by financing activities (248,107) (273,864) 6,874
Change in cash and cash equivalents (9,204) 47,181 20,647
Cash and cash equivalents at beginning of year 221,038 173,857 153,210
Cash and cash equivalents at end of year 211,834 221,038 173,857
Supplemental disclosures of cash flow information:      
Cash paid for interest 17,926 13,705 11,268
Cash paid for income taxes 30,266 41,231 32,239
Supplemental disclosures of noncash financing and investing activities:      
Dividends declared and unpaid 19,808 17,460 14,268
Transfers from loans to other real estate 3,299 3,518 2,612
Acquisitions:      
Common stock issued 0 343,132 0
Fair value of assets acquired, excluding acquired cash and intangibles 115 1,961,246 0
Fair value of liabilities assumed $ 31 $ 1,870,449 $ 0