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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 29,225 $ 30,213
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,982 1,946
Amortization of right-of-use asset 2,941 0
Net gain on sale of other real estate owned (465) (220)
Writedown of other real estate owned 276 230
(Recoveries) provision for loan losses (41) 600
Deferred tax expense 660 70
Net amortization of securities 1,313 1,725
Stock based compensation expense (6) 77
Net gain on sale of bank premises and equipment (2) 0
Decrease in taxes receivable 1,038 1,311
(Increase) Decrease in interest receivable (996) 112
Increase in interest payable 528 158
Increase in other assets (1,647) (1,439)
Decrease in operating lease liabilities (2,983) 0
Decrease in accrued expenses and other liabilities (1,469) (1,784)
Total adjustments 1,129 2,786
Net cash provided by operating activities 30,354 32,999
Cash flows from investing activities:    
Proceeds from sales and calls of securities available for sale 44,450 49,481
Proceeds from calls and maturities of held to maturity securities 1,754 2,821
Purchases of securities available for sale (176,045) (60,088)
Proceeds from maturities of securities available for sale 10,052 45,000
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (230) (174)
Net increase in loans (35,385) (106,869)
Proceeds from dispositions of other real estate owned 1,951 2,521
Proceeds from dispositions of bank premises and equipment 2 0
Purchases of bank premises and equipment (1,346) (2,310)
Net cash used in investing activities (154,797) (69,618)
Cash flows from financing activities:    
Net increase in deposits 188,020 81,944
Net increase (decrease) in short-term borrowings 4,853 (60,286)
Proceeds from exercise of stock options 35 703
Stock based award tax withholding payments 0 (37)
Proceeds from sale of treasury stock 1,194 1,190
Purchases of treasury stock (35) (379)
Dividends paid (13,178) (12,640)
Net cash provided by financing activities 180,889 10,495
Net increase in cash and cash equivalents 56,446 (26,124)
Cash and cash equivalents at beginning of period 503,709 612,740
Cash and cash equivalents at end of period 560,155 586,616
Cash paid during the year for:    
Interest paid 16,626 4,549
Income taxes paid 8,332 6,524
Other non cash items    
Transfer of loans to other real estate owned 2,712 1,854
Increase in dividends payable 11 13
Change in unrealized gain (loss) on securities available for sale-gross of deferred taxes 11,767 (8,830)
Change in deferred tax effect on unrealized (gain) loss on securities available for sale (3,058) 2,284
Amortization of net actuarial gain and prior service cost on pension and postretirement plans (235) (133)
Change in deferred tax effect of amortization of net actuarial gain postretirement benefit plans $ 61 $ 35