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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 43,145 $ 42,601 $ 42,238
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 3,816 4,038 4,554
Net gain on sale of other real estate owned (924) (298) (373)
Writedown of other real estate owned 1,071 1,242 1,143
Provision for loan losses 2,000 2,950 3,700
Deferred tax (benefit) expense (183) 3,261 3,011
Net amortization of securities 4,326 4,986 5,486
Stock based compensation expense 150 224 204
Net loss (gain) on sale of bank premises and equipment 43 (480) 0
Net gain on securities transactions 0 (668) (251)
Decrease (increase) in taxes receivable 6,124 (921) 3,510
(Increase) decrease in interest receivable (371) (808) 538
Increase (decrease) in interest payable 11 25 (47)
Decrease in other assets (310) (1,677) (4,168)
Increase in accrued expenses and other liabilities 2,792 419 463
Total adjustments 18,545 12,293 17,770
Net cash provided by operating activities 61,690 54,894 60,008
Cash flows from investing activities:      
Proceeds from sales and calls of securities available for sale 124,624 245,929 254,955
Purchases of securities available for sale (83,031) (275,303) (189,823)
Proceeds from maturities of securities available for sale 5,000 1,949 4,025
Proceeds from calls and maturities of held to maturity securities 17,939 10,975 14,481
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (143) (99) (252)
Proceeds from redemptions of Federal Reserve Bank and Federal Home Loan Bank stock 943 0 0
Net increase in loans (212,028) (146,629) (148,532)
Proceeds from dispositions of other real estate owned 5,362 6,768 7,511
Proceeds from dispositions of bank premises and equipment 63 674 112
Purchases of bank premises and equipment (3,613) (2,055) (3,744)
Net cash used in investing activities (144,884) (157,791) (61,267)
Cash flows from financing activities:      
Net (decrease) increase in deposits (22,837) 95,785 68,137
Net increase in short-term borrowings 33,585 18,180 2,110
Proceeds from exercise of stock options 5,237 1,368 147
Proceeds from sales of treasury stock 2,480 2,447 2,670
Purchases of treasury stock (4,608) (701) (147)
Dividends paid (25,197) (25,064) (24,950)
Net cash (used in) provided by financing activities (11,340) 92,015 47,967
Net (decrease) increase in cash and cash equivalents (94,534) (10,882) 46,708
Cash and cash equivalents at beginning of period 707,274 718,156 671,448
Cash and cash equivalents at end of period 612,740 707,274 718,156
Cash paid during the year for:      
Interest paid 14,581 15,279 16,244
Income taxes paid 26,127 23,494 21,005
Non cash investing and financing activities:      
Transfer of loans to real estate owned 4,487 5,525 8,295
Transfer of other real estate owned to fixed assets 0 0 0
Increase in dividends payable 29 29 24
Change in unrealized gain (loss) on securities available for sale - gross of deferred taxes 2,524 (3,784) (1,330)
Change in deferred tax effect on unrealized (loss) gain on securities available for sale, net of reclassification adjustment (792) 1,514 531
Amortization of net actuarial loss and prior service credit on pension and post retirement plans, gross of deferred taxes (199) 0 160
Change in deferred tax effect of amortization of net actuarial loss and prior service credit on pension and post retirement plans (100) 0 (63)
Change in overfunded portion of pension and post retirement benefit plans (ASC 715) - gross of deferred taxes 3,824 1,333 711
Deferred tax effect of change in overfunded portion of pension and post retirement benefit plans (ASC 715) $ (812) $ (533) $ (281)