XML 32 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash Flow From Operating Activities:    
Net income $ 28,780 $ 22,680
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses    4,099
Depreciation and amortization 3,000 2,162
Change in deferred taxes 9,338 8,083
Share-based compensation 1,059 810
Tax benefit from stock options exercised (60)   
Mortgage loans originated for sale (79,337) (184,270)
Proceeds from sales of mortgage loans 77,298 192,039
Gains on sales of securities available for sale (1,425) (487)
Change in interest receivable 331 1,181
Change in interest payable 718 (691)
Other adjustments (11,060) (1,807)
Net cash provided by operating activities 28,642 43,799
Cash Flows from Investing Activities:    
Net change in interest-bearing deposits 27,213 (21,455)
Purchases of:    
Securities available for sale (113,578) (161,027)
Securities held to maturity (71,816) (7,772)
Proceeds from sales of securities available for sale 17,337 25,222
Proceeds from maturities of:    
Securities available for sale 30,399 56,417
Securities held to maturity 31,443 42,336
Change in Federal Reserve and Federal Home Loan Bank stock (4,137) (5)
Net change in loans (93,994) (27,059)
Proceeds from the sale of other real estate owned 6,229 4,730
Other adjustments (2,082) (3,578)
Net cash used in investing activities (172,986) (92,191)
Net change in :    
Demand and savings deposits 15,816 86,485
Certificates of deposit and other time deposits 82,326 (100,075)
Borrowings 301,643 77,070
Repayment of borrowings (244,198) (20,391)
Cash dividends on common stock (4,735) (2,334)
Cash dividends on preferred stock    (1,709)
Stock issued under employee benefit plans 252 270
Stock issued under dividend reinvestment and stock purchase plans 239 151
Stock options exercised 450 44
Tax benefit from stock options exercised 60   
Stock redeemed (1,052) (479)
Cumulative preferred stock redeemed (SBLF)    (22,696)
Net cash provided by financing activities 150,801 16,336
Net Change in Cash and Cash Equivalents 6,457 (32,056)
Cash and Cash Equivalents, January 1 109,434 101,460
Cash and Cash Equivalents, June 30 115,891 69,404
Additional cash flow information:    
Interest paid 9,807 8,974
Income tax paid 1,688 1,378
Loans transferred to other real estate owned 2,550 3,925
Fixed assets transferred to other real estate owned 297  
Non-cash investing activities using trade date accounting $ 5,517 $ 9,854