XML 89 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 31,534 $ 32,812 $ 37,195
Adjustments to reconcile net income to net cash provided by operating activities:      
Net (accretion) amortization on securities 2,712 3,492 274
Provision for loan losses 7,860 8,773 5,755
Securities impairment loss recognized in earnings 0 11 110
Securities (gains) losses (423) (886) (6)
Depreciation and amortization 5,482 5,105 3,897
Provision for deferred income taxes (39) (143) 624
Net change in accrued interest receivable 470 923 500
Contribution of shares to ESOP 1,218 1,439 1,558
Stock compensation expense 773 488 0
Gain on sale of mortgage loans (3,052) (4,590) (1,957)
Loss on sales of other real estate 182 69 370
Origination of loans held for sale (112,483) (167,303) (83,938)
Proceeds from loans held for sale 121,092 167,227 86,601
Other, net 7,371 7,160 (7,739)
NET CASH FROM OPERATING ACTIVITIES 62,697 54,577 43,244
CASH FLOWS FROM INVESTING ACTIVITIES:      
Sales of securities available-for-sale 5,110 25,812 25
Calls, maturities and principal reductions on securities available-for-sale 158,317 142,475 139,179
Purchases of securities available-for-sale (417,997) (194,475) (134,770)
Loans made to customers, net of payments 41,643 29,619 (22,074)
Net change in federal funds sold 16,524 (9,075) 1,044
Purchase of bank owned life insurance 0 (1,551) (4,500)
Redemption of bank owned life insurance 0 9,180 0
Redemption of restricted stock 250 1,185 4,952
Purchase of restricted stock (15) (186) 0
Purchase of customer list 0 (114) 0
Cash received (disbursed) from acquisitions 177,610 0 14,849
Sale of other real estate 4,714 4,285 4,573
Additions to premises and equipment (2,522) (10,945) (1,476)
NET CASH FROM INVESTING ACTIVITIES (16,366) (3,790) 1,802
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net change in deposits (7,544) 149 10,202
Net change in other short-term borrowings 19,041 (59,471) 36,746
Dividends paid (12,766) (12,425) (12,231)
Purchases of treasury stock (162) 0 0
Proceeds from other borrowings 135,000 0 0
Repayments on other borrowings (196,097) (26,090) (3,994)
NET CASH FROM FINANCING ACTIVITIES (62,528) (97,837) 30,723
NET CHANGE IN CASH AND CASH EQUIVALENTS (16,197) (47,050) 75,769
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 87,230 134,280 58,511
CASH AND CASH EQUIVALENTS, END OF YEAR 71,033 87,230 134,280
SUPPLEMENTAL DISCLOSURES OF CASH FLOW AND NONCASH INFORMATION:      
Interest 9,375 13,837 17,358
Income Taxes $ 13,822 $ 12,638 $ 16,565