XML 41 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Operating activities    
Net income $ 17,621us-gaap_NetIncomeLoss $ 15,104us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 2,060us-gaap_ProvisionForLoanLeaseAndOtherLosses (1,033)us-gaap_ProvisionForLoanLeaseAndOtherLosses
Depreciation and amortization 3,208us-gaap_DepreciationAndAmortization 3,178us-gaap_DepreciationAndAmortization
Stock-based compensation expense 858us-gaap_ShareBasedCompensation 810us-gaap_ShareBasedCompensation
Pension expense (income) (300)us-gaap_PensionExpense (253)us-gaap_PensionExpense
Net amortization of premiums/accretion of discounts on investment securities 1,741us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 1,730us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Gains on sales of investment securities 0us-gaap_GainLossOnSaleOfInvestments (50)us-gaap_GainLossOnSaleOfInvestments
Originations of loans held for sale (59,541)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale (18,297)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale
Net gains from sales of loans held for sale (1,464)us-gaap_GainLossOnSalesOfLoansNet (396)us-gaap_GainLossOnSalesOfLoansNet
Proceeds from sales of loans held for sale 56,816us-gaap_ProceedsFromSaleOfLoansHeldForSale 19,012us-gaap_ProceedsFromSaleOfLoansHeldForSale
Deferred income taxes 2,313us-gaap_DeferredIncomeTaxExpenseBenefit 0us-gaap_DeferredIncomeTaxExpenseBenefit
Decrease (increase) in interest receivable (2,354)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet (2,663)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet
Decrease (increase) in cash surrender value of life insurance (480)us-gaap_BankOwnedLifeInsuranceIncome (418)us-gaap_BankOwnedLifeInsuranceIncome
Decrease (increase) in prepaid expenses (919)us-gaap_IncreaseDecreaseInPrepaidExpense (892)us-gaap_IncreaseDecreaseInPrepaidExpense
Decrease (increase) in indemnification asset (2,269)us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease (6,088)us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease
(Decrease) increase in accrued expenses (7,396)us-gaap_IncreaseDecreaseInAccruedLiabilities (7,760)us-gaap_IncreaseDecreaseInAccruedLiabilities
(Decrease) increase in interest payable 0us-gaap_IncreaseDecreaseInInterestPayableNet (130)us-gaap_IncreaseDecreaseInInterestPayableNet
Other 670us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (906)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by (used in) operating activities 15,102us-gaap_NetCashProvidedByUsedInOperatingActivities 13,124us-gaap_NetCashProvidedByUsedInOperatingActivities
Investing activities    
Proceeds from sales of securities available-for-sale 25us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 92,573us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities
Proceeds from calls, paydowns and maturities of securities available-for-sale 26,103us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 26,247us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Purchases of securities available-for-sale (55,005)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (61,081)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Proceeds from calls, paydowns and maturities of securities held-to-maturity 27,155us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities 22,584us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
Purchases of securities held-to-maturity 0us-gaap_PaymentsToAcquireHeldToMaturitySecurities 67,350us-gaap_PaymentsToAcquireHeldToMaturitySecurities
Net decrease (increase) in interest-bearing deposits with other banks (2,720)us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks 16,149us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks
Net decrease (increase) in loans and leases 8,883us-gaap_PaymentsForProceedsFromLoansAndLeases (68,533)us-gaap_PaymentsForProceedsFromLoansAndLeases
Proceeds from disposal of other real estate owned 4,557us-gaap_ProceedsFromSaleOfOtherRealEstate 12,082us-gaap_ProceedsFromSaleOfOtherRealEstate
Purchases of premises and equipment (2,255)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (1,567)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash provided by (used in) investing activities 6,743us-gaap_NetCashProvidedByUsedInInvestingActivities (28,896)us-gaap_NetCashProvidedByUsedInInvestingActivities
Financing activities    
Net (decrease) increase in total deposits 58,848us-gaap_IncreaseDecreaseInDeposits (17,118)us-gaap_IncreaseDecreaseInDeposits
Net (decrease) increase in short-term borrowings (69,750)us-gaap_ProceedsFromRepaymentsOfShortTermDebt 86,344us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Payments on long-term borrowings (532)us-gaap_RepaymentsOfLongTermDebt (610)us-gaap_RepaymentsOfLongTermDebt
Cash dividends paid on common stock (9,745)us-gaap_PaymentsOfDividendsCommonStock (8,570)us-gaap_PaymentsOfDividendsCommonStock
Treasury stock purchase 0us-gaap_PaymentsForRepurchaseOfCommonStock (697)us-gaap_PaymentsForRepurchaseOfCommonStock
Proceeds from exercise of stock options 124us-gaap_ProceedsFromStockOptionsExercised 64us-gaap_ProceedsFromStockOptionsExercised
Excess tax benefit on share-based compensation 99us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 254us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Net cash provided by (used in) financing activities (20,956)us-gaap_NetCashProvidedByUsedInFinancingActivities 59,667us-gaap_NetCashProvidedByUsedInFinancingActivities
Cash and due from banks:    
Net increase (decrease) in cash and due from banks 889us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 43,895us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and due from banks at beginning of period 110,122us-gaap_CashAndDueFromBanks 117,620us-gaap_CashAndDueFromBanks
Cash and due from banks at end of period $ 111,011us-gaap_CashAndDueFromBanks $ 161,515us-gaap_CashAndDueFromBanks