XML 27 R7.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income$ 24,373$ 22,417
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization3,6053,524
Loss on sale of other real estate owned304788
Provision for loan losses14,55017,700
Deferred tax (benefit) expense(1,942)798
Stock based compensation expense111133
Net loss on sale of bank premises and equipment039
Net gain on sales and calls of securities(1,296)(2,475)
Decrease (increase) in taxes receivable..4,618(10,944)
Decrease in interest receivable323437
Decrease in interest payable(303)(494)
Decrease in other assets7,5242,226
Increase in due to broker10,0000
Increase (decrease) in accrued expenses and other liabilities150(866)
Total adjustments37,64410,866
Net cash provided by operating activities62,01733,283
Cash flows from investing activities:  
Proceeds from sales and calls of securities available for sale916,106837,555
Proceeds from calls and maturities of held to maturity securities68,489169,320
Purchases of securities available for sale(1,019,583)(873,215)
Proceeds from maturities of securities available for sale13,18513,217
Purchases of held to maturity securities(70,935)0
Net increase in loans(141,166)(87,007)
Proceeds from dispositions of other real estate owned6,9149,477
Purchases of bank premises and equipment(2,919)(2,932)
Net cash (used in) provided by investing activities(229,909)66,415
Cash flows from financing activities:  
Net increase in deposits126,440128,184
Net increase in short-term borrowings18,4669,046
Proceeds from sale of treasury stock2,1902,101
Proceeds from common stock offering67,5780
Dividends paid(15,207)(14,393)
Net cash provided by financing activities199,467124,938
Net increase in cash and cash equivalents31,575224,636
Cash and cash equivalents at beginning of period444,250145,894
Cash and cash equivalents at end of period475,825370,530
Cash paid during the year for:  
Interest paid20,47027,815
Income taxes paid8,80522,317
Other non cash items:  
Transfer of loans to other real estate owned8,8035,955
Increase in dividends payable1,052262
Change in unrealized gain on securities available for sale-gross of deferred taxes7,4139,446
Change in deferred tax effect on unrealized gain on securities available for sale(2,956)(3,767)
Amortization of prior service cost on pension and post retirement plans(133)(303)
Change in deferred tax effect of amortization of prior service cost$ 53$ 121