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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating Activities    
Net income $ 12,073 $ 8,766
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses   500
Depreciation expense 931 1,709
Amortization of mortgage servicing rights 341 286
Securities amortization, net 955 1,170
Amortization of purchased intangible assets 304 328
Earnings on cash surrender value of life insurance policies (405) (302)
Securities gains, net (13) (17)
Gain on loans sold (1,417) (1,413)
Loans originated for sale (47,958) (42,816)
Proceeds from loan sales 57,484 46,248
Stock based compensation expense 259 197
Stock portion of director retainer fee expense 100 89
(Gain)/Loss on sale and write-down of OREO 122 149
Change in other assets and liabilities 900 (4,887)
Net cash provided by operating activities 23,432 9,709
Investing Activities    
Net change in short term investments 290 245
Purchases of securities available for sale (47,392) (35,903)
Proceeds from calls, maturities, and payments on securities available for sale 30,157 28,317
Proceeds from sales of securities available for sale 3,100 4,235
Loan originations and payments, net 36,492 (6,583)
Purchases of premises and equipment (896) (3,116)
Proceeds from sale of OREO 655 735
Proceeds from redemption of restricted stock 204  
Purchase of restricted stock (2,471) (3,283)
Cash received/(paid) from business acquisitions, net (1,400)  
Net cash used by investing activities 18,739 (15,353)
Financing Activities    
Net change in deposits 44,266 (5,931)
Net change in other borrowings (70,808) 2,796
Proceeds from FHLB advances   260,000
Repayment of FHLB advances (19,921) (243,931)
Cash dividends on common stock (3,862) (3,241)
Purchase of treasury shares (242) (95)
Repayment on term debt (1,667)  
Proceeds from exercise of stock options, including tax benefit 998 470
Net cash provided by financing activities (51,236) 10,068
Net change in cash and cash equivalents (9,065) 4,424
Cash and cash equivalents, beginning of year 86,552 67,578
Cash and cash equivalents, end of period 77,487 72,002
Supplemental cash flow information    
Interest paid 3,168 2,368
Income taxes paid   851
Supplemental non cash disclosure    
Loan balances transferred to foreclosed real estate $ 441 $ 537