XML 32 R8.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 17,050 $ 16,237
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Gain on sales of mortgage loans (742) (221)
Net gains on sales of securities (170)  
Provision for loan losses 200 1,650
Deferred income taxes (1,825) (2,648)
Net depreciation and amortization 2,486 2,337
(Increase) decrease in accrued interest receivable (1,065) 222
Increase in other assets (10,430) (2,238)
Increase in other liabilities 1,982 2,184
Net cash provided by operating activities 7,486 17,523
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of short-term investments   3,561
Purchase of short-term investments (8) (1,069)
Proceeds from calls/maturities of securities available-for-sale 163,809 112,242
Proceeds from sales of securities available-for-sale 42,716  
Purchase of securities available-for-sale (168,889) (132,953)
Proceeds from calls/maturities of securities held-to-maturity 310,694 183,533
Purchase of securities held-to-maturity (443,705) (163,064)
Net increase in loans (356,915) (101,378)
Proceeds from sales of portfolio loans 48,041 13,364
Capital expenditures (2,063) (1,780)
Net cash used in investing activities (406,320) (87,544)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in time deposits 23,275 (11,445)
Net increase in demand, savings, money market and NOW deposits 148,706 86,051
Net proceeds from exercise of stock options   329
Cash dividends (1,650) (1,646)
Net decrease in securities sold under agreements to repurchase (590) (19,340)
Net increase in other borrowed funds 37,000 82,356
Net cash provided by financing activities 206,741 136,305
Net (decrease) increase in cash and cash equivalents (192,093) 66,284
Cash and cash equivalents at beginning of period 305,357 94,678
Cash and cash equivalents at end of period 113,264 160,962
Cash paid during the period for:    
Interest 14,735 14,295
Income taxes 3,780 2,807
Change in unrealized gains (losses) on securities available-for-sale, net of taxes (104) 1,509
Change in unrealized losses on securities transferred to held-to-maturity, net of taxes 2,697 2,524
Pension liability adjustment, net of taxes 639 169
Due (from) to broker $ 4,430 $ 7,613