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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 43,933 $ 45,412
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,958 2,671
Amortization of right-of-use asset 4,420 0
Net gain on sale of other real estate owned (686) (249)
Writedown of other real estate owned 294 674
Provision (Credit) for loan losses (41) 900
Deferred tax expense 844 671
Net amortization of securities 2,128 2,459
Stock based compensation expense 0 152
Net gain on sale of bank premises and equipment (3) (1)
Decrease in taxes receivable 1,903 721
Increase in interest receivable (397) (111)
Increase in interest payable 510 241
Increase in other assets (2,669) (2,760)
Decrease in operating lease liabilities (4,489) 0
Increase (decrease) in accrued expenses and other liabilities 1,066 (1,947)
Total adjustments 5,838 3,421
Net cash provided by operating activities 49,771 48,833
Cash flows from investing activities:    
Proceeds from calls of securities available for sale 101,306 64,925
Proceeds from calls and maturities of held to maturity securities 2,665 4,089
Purchases of securities available for sale (260,466) (61,207)
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 (115,120) (192,222)
Proceeds from dispositions of other real estate owned 3,159 2,894
Proceeds from dispositions of bank premises and equipment 3 1
Purchases of bank premises and equipment (2,432) (2,727)
Net cash used in investing activities (261,063) (139,421)
Cash flows from financing activities:    
Net increase in deposits 186,920 26,598
Net decrease in short-term borrowings (10,798) (66,614)
Proceeds from exercise of stock options 153 1,259
Stock based award tax withholding payments 0 (37)
Proceeds from sale of treasury stock 1,791 1,782
Purchases of treasury stock (35) (718)
Dividends paid (19,771) (18,973)
Net cash provided by (used in) financing activities 158,260 (56,703)
Net decrease in cash and cash equivalents (53,032) (147,291)
Cash and cash equivalents at beginning of period 503,709 612,740
Cash and cash equivalents at end of period 450,677 465,449
Cash paid during the year for:    
Interest paid 26,529 13,863
Income taxes paid 12,263 13,778
Other non cash items:    
Transfer of loans to other real estate owned 3,501 2,379
Increase in dividends payable 17 256
Change in unrealized gain (loss) on securities available for sale-gross of deferred taxes 14,185 (12,908)
Change in deferred tax effect on unrealized (gain) loss on securities available for sale (3,686) 3,352
Amortization of net actuarial gain and prior service cost on pension and postretirement plans (353) (395)
Change in deferred tax effect of amortization of net actuarial gain postretirement benefit plans $ 92 $ 103