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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net income available to common shareholders $ 66,741 $ 59,283
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion and amortization, net 521 1,154
Recovery of loan losses (1,175) (1,910)
Depreciation of premises and equipment 3,736 3,819
Deferred income tax expense 2,906 921
Net periodic employee benefit cost 579 438
Unrealized and realized investment securities gains, net (42) (1,155)
Stock-compensation expense 1,901 1,697
Excess tax benefit from stock-compensation expense (461) (155)
Increase in value of bank-owned life insurance (2,909) (1,932)
Loans originated for sale (14,229) (9,286)
Proceeds from the sale of loans originated for sale 15,192 9,601
Gain on sale of loans (421) (249)
Change in accrued interest receivable (505) (2,226)
Change in other assets (16,188) (15,709)
Change in other liabilities 14,521 11,543
Net Cash Provided by Operating Activities 70,167 55,834
Investing Activities    
Net decrease (increase) in loans 5,332 (19,057)
Purchases (170,396) (82,661)
Proceeds from sales 70,241 0
Proceeds from maturities and calls 55,237 38,520
Securities Held-to-maturity: Proceeds from maturities and calls 9,554 6,552
Other investments: Purchases (10,366) (18,566)
Other investments: Proceeds from sales 12,555 15,397
Purchases of premises and equipment (3,515) (4,236)
Disposals of premises and equipment 1,008 772
Proceeds from life insurance 2,211 425
Sale of Virginia Beach branch, net (24,661) 0
Net Cash Used in Investing Activities (52,800) (62,854)
Financing Activities    
Net increase in non-interest-bearing deposits 17,188 5,403
Net increase in interest-bearing deposits 63,099 122,594
Net (decrease) increase in short-term borrowings (59,289) 137,905
Purchases of treasury stock (19,431) (15,230)
Proceeds from exercise of stock options 526 1,149
Dividends paid (26,257) (21,399)
Net Cash (Used in) Provided by Financing Activities (24,164) 230,422
(Decrease) Increase in Cash and Cash Equivalents (6,797) 223,402
Cash and cash equivalents at beginning of period 122,991 82,508
Cash and Cash Equivalents at End of Period $ 116,194 $ 305,910