XML 81 R8.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 40,134 $ 41,946
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,079 3,830
Amortization of intangible assets 3,667 4,130
Net accretion on securities, loans and borrowings (2,113) (1,944)
Stock-based compensation 1,952 1,391
Provision for credit losses 5,594 2,422
Amortization of mortgage servicing rights 82 98
Unrealized loss (gain) on equity securities 30 (31)
Income from bank-owned life insurance policies (408) (391)
Net loss on sale of loans and other assets 9 22
Change in other assets and other liabilities (26,332) (16,864)
Net cash provided by operating activities 26,694 34,609
Investing activities:    
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities 61,753 52,520
Proceeds from maturities and redemptions of equity and other investment securities 404 2,460
Purchases of available-for-sale investment securities (34,597) (13,388)
Purchases of equity and other securities (18) (24)
Net decrease in loans 25,446 11,847
Cash paid for acquisitions, net of cash acquired of $0 and $0, respectively 0 (1,200)
Purchases of premises and equipment, net (3,020) (1,227)
Real estate tax credit investments (550) (564)
Net cash provided by investing activities 49,418 50,424
Financing activities:    
Net increase in deposits 309,015 297,291
Net decrease in borrowings (45,040) (63,910)
Issuance of common stock 6,399 (844)
Purchases of treasury stock (74) (79)
Sales of treasury stock 79 1,885
Increase in deferred compensation arrangements 74 79
Cash dividends paid (21,268) (19,806)
Withholding taxes paid on share-based compensation (991) (3,119)
Net cash provided by financing activities 248,194 211,497
Change in cash and cash equivalents 324,306 296,530
Cash and cash equivalents at beginning of period 205,030 211,834
Cash and cash equivalents at end of period 529,336 508,364
Supplemental disclosures of cash flow information:    
Cash paid for interest 6,888 5,684
Cash paid for income taxes 9,642 4,486
Supplemental disclosures of noncash financing and investing activities:    
Dividends declared and unpaid 21,441 19,578
Transfers from loans to other real estate $ 779 $ 412