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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 23,508 $ 20,973
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 3,024 3,323
Provision for loan losses 1,500 1,500
Deferred tax expense 2,632 456
Increase in cash surrender value of Bank-owned life insurance (1,389) (1,332)
Net amortization of premiums and discounts on securities 2,450 2,401
Accretion of net deferred loan fees (1,146) (687)
Amortization of premiums on purchased loans, net 219 198
Net increase in loans originated for sale (990) (2,598)
Proceeds from sales of loans originated for sale 89 2,921
Proceeds from sales of foreclosed assets 2,167 1,063
ESOP expense 1,095 746
Allocation of stock award shares 541 723
Allocation of stock options 44 46
Excess tax benefits related to stock-based compensation 1,195 0
Net gain on sale of loans (89) (323)
Net gain on securities transactions 0 (96)
Net gain on sale of premises and equipment 0 (4)
Net gain on sale of foreclosed assets (288) (26)
Decrease in accrued interest receivable 413 367
Decrease (increase) in other assets 1,425 (2,659)
(Decrease) increase in other liabilities (12,007) 785
Net cash provided by operating activities 24,393 27,777
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns of investment securities held to maturity 15,668 11,805
Purchases of investment securities held to maturity (17,297) (11,259)
Proceeds from sales of securities 0 2,106
Proceeds from maturities, calls and paydowns of securities available for sale 48,819 40,818
Purchases of securities available for sale (57,015) (52,513)
Proceeds from redemption of Federal Home Loan Bank stock 32,311 22,534
Purchases of Federal Home Loan Bank stock (33,221) (16,488)
Purchases of loans 0 (28,590)
Net decrease (increase) in loans 5,626 (72,894)
Proceeds from sales of premises and equipment 0 4
Purchases of premises and equipment (589) (1,758)
Net cash used in investing activities (5,698) (106,235)
Cash flows from financing activities:    
Net (decrease) increase in deposits (23,759) 230,875
Increase in mortgage escrow deposits 1,839 2,291
Cash dividends paid to stockholders (12,629) (11,321)
Shares issued through the dividend reinvestment plan 475 365
Purchases of treasury stock (443) (1,556)
Purchase of employee restricted shares to fund statutory tax withholding (703) (1,141)
Stock options exercised 2,508 2,321
Proceeds from long-term borrowings 70,420 167,858
Payments on long-term borrowings (91,009) (206,068)
Net increase (decrease) in short-term borrowings 48,403 (99,281)
Net cash (used in) provided by financing activities (4,898) 84,343
Net increase in cash and cash equivalents 13,797 5,885
Cash and cash equivalents at beginning of period 144,297 102,226
Cash and cash equivalents at end of period 158,094 108,111
Cash paid during the period for:    
Interest on deposits and borrowings 10,944 10,856
Income taxes 105 3,125
Non-cash investing activities:    
Transfer of loans receivable to foreclosed assets $ 1,708 $ 1,520