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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities:    
Net income $ 32,553 $ 29,052
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,422 5,415
Provision (credit) for loan and lease losses 3,521 (1,016)
Share based compensation expense 1,450 1,101
Deferred income tax expense 1,412 1,119
Origination of loans held for sale (150,686) (90,531)
Proceeds from sales of loans held for sale 153,020 93,554
Gains on sales of loans held for sale (2,240) (1,314)
Loss on sales of other real estate owned 224 162
Investment securities gains (20) (8)
Net (increase) decrease in accrued interest receivable (468) 255
Net (increase) decrease in other assets (2,772) (7,319)
Net increase (decrease) in accrued expenses and other liabilities (176) 7,683
Other - net 3,063 3,256
Net cash provided by operating activities 44,303 41,409
Investing activities:    
Purchases of investments held-to-maturity (2,100) 0
Proceeds from sales of investment available-for-sale 3,289 3,615
Proceeds from maturities, calls and principal payments of investments held-to-maturity 4,791 2,293
Proceeds from maturities, calls and principal payments of investments available-for-sale 66,727 67,700
Net increase in loans and leases (288,233) (192,794)
Proceeds from the sales of other real estate owned 1,855 465
Expenditures for premises and equipment (6,739) (3,547)
Net cash used in investing activities (220,410) (122,268)
Financing activities:    
Net increase (decrease) in deposits 209,159 151,563
Net increase (decrease) in retail repurchase agreements and federal funds purchased 46,946 17,542
Proceeds from advances from FHLB 1,649,000 1,330,000
Repayment of advances from FHLB (1,694,000) (1,387,000)
Proceeds from issuance of common stock 581 440
Repurchase of common stock (18,869) 0
Dividends paid (16,496) (14,154)
Net cash provided by financing activities 176,321 98,391
Net increase (decrease) in cash and cash equivalents 214 17,532
Cash and cash equivalents at beginning of period 96,217 74,427
Cash and cash equivalents at end of period 96,431 91,959
Supplemental Disclosures:    
Interest payments 14,779 15,031
Income tax payments 14,825 12,470
Transfers from loans to other real estate owned $ 1,524 $ 2,353