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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 21,442 $ 22,819
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,331 2,432
Net gain on sale of other real estate owned (302) (2,482)
Writedown of other real estate owned 350 998
Net gain on sale of building held for sale 0 (1,556)
Provision for loan losses 1,600 3,000
Deferred tax expense 167 1,508
Stock based compensation expense 96 173
Net gain on sale of bank premises and equipment 0 (1)
Net gain on sales and calls of securities (249) (6)
Decrease in taxes receivable 1,815 1,265
Increase in interest receivable (7) (152)
Decrease in interest payable (33) (2)
Increase in other assets (405) (2,561)
Increase (decrease) in accrued expenses and other liabilities 1,072 (1,009)
Total adjustments 6,435 1,607
Net cash provided by operating activities 27,877 24,426
Cash flows from investing activities:    
Proceeds from sales and calls of securities available for sale 81,516 180,623
Proceeds from calls and maturities of held to maturity securities 7,403 8,289
Purchases of securities available for sale (98,092) (118,755)
Proceeds from maturities of securities available for sale 1,499 9,000
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (252) (451)
Net increase in loans (90,557) (107,000)
Net proceeds from sale of building held for sale 0 4,745
Proceeds from dispositions of other real estate owned 3,870 7,230
Proceeds from dispositions of bank premises and equipment 66 53
Purchases of bank premises and equipment (1,932) (4,160)
Net cash used in investing activities (96,479) (20,426)
Cash flows from financing activities:    
Net increase in deposits 105,200 68,116
Net decrease in short-term borrowings (18,366) (22,646)
Proceeds from exercise of stock options and related tax benefits 99 0
Proceeds from sale of treasury stock 1,361 1,439
Purchases of treasury stock (99) 0
Dividends paid (12,456) (12,405)
Net cash provided by financing activities 75,739 34,504
Net increase in cash and cash equivalents 7,137 38,504
Cash and cash equivalents at beginning of period 671,448 583,044
Cash and cash equivalents at end of period 678,585 621,548
Cash paid during the year for:    
Interest paid 8,250 7,468
Income taxes paid 11,059 13,142
Other non cash items:    
Transfer of loans to other real estate owned 3,585 5,880
Transfer of other real estate owned to fixed assets 0 568
Increase in dividends payable 10 14
Change in unrealized gain (loss) on securities available for sale-gross of deferred taxes (2,422) 18,878
Change in deferred tax effect on unrealized gain (loss) on securities available for sale 971 (7,543)
Amortization of net actuarial gain (loss) and prior service credit on pension and postretirement plans 55 (236)
Change in deferred tax effect of amortization of net actuarial loss and prior service cost (credit) $ (22) $ 93