XML 32 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating activities    
Net income $ 43,822 $ 41,442
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 17,258 13,329
Depreciation and amortization of premises and equipment 5,885 4,636
Net accretion on securities 4,082 1,766
Amortization of intangible assets 3,548 2,530
Stock based compensation 3,571 3,558
Bank owned life insurance income (2,648) (2,228)
Purchases of trading securities (1,022) (705)
Unrealized gains in trading securities (345) (84)
Deferred income tax expense (benefit) 1,126 (2,735)
Proceeds from sale of loans held for sale 59,231 37,922
Originations of loans held for sale (65,722) (47,263)
Net gains on sales of loans held for sale (1,168) (1,352)
Net security gains (1,413) (578)
Net gains on sales of other real estate owned (654) (602)
Net decrease in other assets 12,016 9,316
Net increase (decrease) in other liabilities 8,694 (1,213)
Net cash provided by operating activities 86,261 57,739
Investing activities    
Net cash provided by acquisitions 80,909 53,121
Securities available for sale:    
Proceeds from maturities, calls, and principal paydowns 314,104 381,160
Proceeds from sales 27,593 1,791
Purchases (303,497) (329,378)
Securities held to maturity:    
Proceeds from maturities, calls, and principal paydowns 24,582 24,428
Purchases (75,808) (14,959)
Net increase in loans (198,057) (234,330)
Net increase in Federal Reserve and FHLB stock (5,584) (672)
Purchases of premises and equipment (3,409) (4,805)
Proceeds from sales of other real estate owned 3,470 2,411
Net cash used in investing activities (135,697) (121,233)
Financing activities    
Net increase in deposits 105,369 156,761
Net increase (decrease) in short-term borrowings 188,689 (44,227)
Repayments of long-term debt (163,409) (3,350)
Proceeds from the issuance of shares to employee benefit plans and other stock plans 154 825
Purchase of treasury stock (12,459) (15,490)
Cash dividends (24,334) (19,966)
Net cash provided by financing activities 94,010 74,553
Net increase in cash and cash equivalents 44,574 11,059
Cash and cash equivalents at beginning of period 163,668 129,381
Cash and cash equivalents at end of period 208,242 140,440
Cash paid during the period for:    
Interest 24,335 26,951
Income taxes paid 12,885 18,457
Acquisitions:    
Fair value of assets acquired 1,504,415 257,865
Fair value of liabilities assumed 1,284,632 285,012
Fair value of debt issued in asset purchase $ 0 $ 150