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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 10,947 $ 10,409
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 946 1,061
Net gain on sale of other real estate owned (191) 0
Writedown of other real estate owned 188 346
Provision for loan losses 600 800
Deferred tax expense (benefit) 368 (179)
Net amortization of securities 1,114 1,152
Stock based compensation expense 42 56
Net loss on sale of bank premises and equipment 0 3
(Increase) decrease in taxes receivable (411) 4,703
Decrease in interest receivable 328 264
(Decrease) increase in interest payable (16) 48
Increase in other assets (997) (632)
Decrease in accrued expenses and other liabilities (1,602) (1,912)
Total adjustments 369 5,710
Net cash provided by operating activities 11,316 16,119
Cash flows from investing activities:    
Proceeds from sales and calls of securities available for sale 20,770 48,913
Proceeds from calls and maturities of held to maturity securities 2,220 2,891
Purchases of securities available for sale (47,905) (31,121)
Net increase in loans (19,579) (10,275)
Proceeds from dispositions of other real estate owned 1,867 1,461
Proceeds from dispositions of bank premises and equipment 0 18
Purchases of bank premises and equipment (655) (799)
Net cash (used in) provided by investing activities (43,282) 11,088
Cash flows from financing activities:    
Net increase in deposits 2,306 42,110
Net increase (decrease) in short-term borrowings 11,540 (21,698)
Proceeds from exercise of stock options 1,503 0
Stock based award tax withholding payments (312) 0
Proceeds from sale of treasury stock 633 655
Purchases of treasury stock (1,503) 0
Dividends paid (6,284) (6,252)
Net cash provided by financing activities 7,883 14,815
Net (decrease) increase in cash and cash equivalents (24,083) 42,022
Cash and cash equivalents at beginning of period 707,274 718,156
Cash and cash equivalents at end of period 683,191 760,178
Cash paid during the year for:    
Interest paid 3,668 3,796
Income taxes paid 6,150 1,360
Other non cash items:    
Transfer of loans to other real estate owned 787 1,036
Increase in dividends payable 7 7
Change in unrealized gain on securities available for sale-gross of deferred taxes 1,179 8,035
Change in deferred tax effect on unrealized gain on securities available for sale (472) (3,214)
Amortization of net actuarial (gain) loss and prior service cost on pension and postretirement plans (40) 56
Change in deferred tax effect of amortization of net actuarial (gain) loss and prior service cost on pension and postretirement plans $ 16 $ (23)