XML 24 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
OPERATING ACTIVITIES      
Net Income $ 71,392 $ 67,081 $ 57,910
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 17,965 10,388 1,715
Provision for unfunded loan commitments 65 258 (655)
Net depreciation, amortization and accretion 3,628 356 4,703
Net amortization of discounts and premiums on securities 3,829 3,600 3,680
Stock-based compensation expense 2,544 1,636 975
Securities losses, (gains), net 0 34 (41)
Net gain on sale of credit card portfolio (2,066) 0 0
Pension plan curtailment gain (1,017) 0 0
Tax benefit from stock-based compensation (9) (53) (16)
Mortgage loans originated for sale (106,020) (107,489) (42,842)
Proceeds from the sale of loans 108,209 99,458 42,361
Deferred income taxes 536 (427) 1,536
Gain on sale of fixed assets 0 (179) (33)
Gain on the sale of loans, net (1,621) (1,044) (353)
Net increase in interest receivable (2,409) (2,744) (933)
Net increase (decrease) in interest payable 1,715 (193) (127)
Net decrease (increase) in other assets 4,668 (11,396) 7,628
Net (decrease) increase in other liabilities (4,613) 1,298 2,595
Net Cash Provided by Operating Activities 96,796 60,584 78,103
INVESTING ACTIVITIES      
Proceeds from maturities, prepayments and calls of securities available-for-sale 74,110 50,142 57,092
Proceeds from sales of securities available-for-sale 0 11,119 1,418
Purchases of securities available-for-sale (113,362) (74,712) (181,213)
Net purchases of Federal Home Loan Bank stock (8,784) (855) (1,506)
Net increase in loans (599,341) (383,575) (313,264)
Proceeds from the sale of loans not originated for resale 9,208 2,880 5,408
Purchases of premises and equipment (3,560) (5,133) (5,079)
Proceeds from the sale of premises and equipment 57 467 96
Net cash paid in excess of cash acquired from bank merger 0 (16,347) 0
Proceeds from the sale of credit card portfolio 25,019 0 0
Proceeds from surrender of bank owned life insurance 0 10,277 0
Net Cash Used in Investing Activities (616,653) (405,737) (437,048)
FINANCING ACTIVITIES      
Net increase in core deposits 378,323 195,589 240,948
Net increase (decrease) in certificates of deposit 18,095 51,209 (4,549)
Net increase (decrease) in short-term borrowings 304,000 (2,660) 150,000
Net (decrease) increase in securities sold under repurchase agreements (11,254) 31,481 (3,242)
Proceeds from long-term borrowings 0 100,000 0
Repayments of long-term borrowings (102,330) (2,399) (2,367)
Repayment of junior subordinated debt 0 (13,500) 0
Treasury shares issued-net 115 182 163
Common stock Issuance costs 0 (132) (271)
Cash dividends paid to common shareholders (26,784) (24,487) (20,203)
Tax benefit from stock-based compensation 9 53 16
Net Cash Provided by (Used in) Financing Activities 559,944 334,972 360,169
Net increase (decrease) in cash and cash equivalents 40,087 (10,181) 1,224
Cash and cash equivalents at beginning of year 99,399 109,580 108,356
Cash and Cash Equivalents at End of Year 139,486 99,399 109,580
Supplemental Disclosures      
Transfers to other real estate owned and other repossessed assets 1,039 843 586
Interest paid 22,800 15,878 12,609
Income taxes paid, net of refunds 26,743 23,175 18,075
Loans transferred to held for sale 250 23,277 0
Loans transferred to portfolio from held for sale 7,933 0 0
Net assets (liabilities) from acquisitions, excluding cash and cash equivalents $ 0 $ 43,433 $ 0