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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 65,235 $ 62,207
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 9,711 10,311
Provision for loan losses 4,200 3,100
Deferred tax expense 323 604
Increase in cash surrender value of Bank-owned life insurance (4,083) (3,913)
Net amortization of premiums and discounts on securities 7,908 8,154
Accretion of net deferred loan fees (2,500) (2,752)
Amortization of premiums on purchased loans, net 936 821
Net increase in loans originated for sale (32,734) (6,987)
Proceeds from sales of loans originated for sale 34,709 7,533
Proceeds from sales of foreclosed assets 3,717 2,897
ESOP expense 2,341 2,119
Allocation of stock award shares 2,982 3,495
Allocation of stock options 131 200
Excess tax benefits related to stock-based compensation 158 0
Net gain on sale of loans (1,975) (546)
Net gain on securities transactions (54) (650)
Net gain on sale of premises and equipment (14) (4)
Net gain on sale of foreclosed assets (652) (196)
Decrease in accrued interest receivable 461 994
Increase in other assets (17,266) (10,466)
Increase in other liabilities 10,942 8,999
Net cash provided by operating activities 84,476 85,920
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns of investment securities held to maturity 49,245 27,208
Purchases of investment securities held to maturity (54,059) (31,515)
Proceeds from sales of securities 3,401 14,005
Proceeds from maturities, calls and paydowns of securities available for sale 146,958 165,609
Purchases of securities available for sale (209,666) (101,922)
Net decrease (increase) in Federal Home Loan Bank stock 7,162 (9,185)
Net cash and cash equivalents paid in acquisition 0 (25,613)
Death benefit proceeds from bank-owned life insurance 0 776
Purchases of loans (28,590) (76,486)
Net increase in loans (325,838) (275,164)
Proceeds from sales of premises and equipment 14 19
Purchases of premises and equipment (3,757) (4,686)
Net cash used in investing activities (415,130) (316,954)
Cash flows from financing activities:    
Net increase in deposits 603,511 33,090
Increase in mortgage escrow deposits 940 2,471
Cash dividends paid to stockholders (35,141) (31,810)
Shares issued through the dividend reinvestment plan 1,176 1,069
Purchases of treasury stock (1,557) 0
Purchase of employee restricted shares to fund statutory tax withholding (1,161) (1,946)
Stock options exercised 5,598 2,054
Proceeds from long-term borrowings 291,653 459,937
Payments on long-term borrowings (395,405) (322,907)
Net (decrease) increase in short-term borrowings (81,512) 113,747
Net cash provided by financing activities 388,102 255,705
Net increase in cash and cash equivalents 57,448 24,671
Cash and cash equivalents at beginning of period 102,226 103,762
Cash and cash equivalents at end of period 159,674 128,433
Cash paid during the period for:    
Interest on deposits and borrowings 33,088 31,146
Income taxes 25,546 30,189
Non-cash investing activities:    
Transfer of loans receivable to foreclosed assets 3,081 8,143
Goodwill and other intangible assets, net 0 27,087
Other assets 0 112
Total non-cash assets acquired 0 27,199
Other Liabilities 0 366
Total liabilities assumed $ 0 $ 366