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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activities    
Net income $ 32,843 $ 26,579
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 700 855
Depreciation expense 6,129 5,390
Amortization of mortgage servicing rights 1,012 1,068
(Recovery)/additional impairment of valuation allowance on mortgage servicing rights (25) 175
Securities amortization, net 3,185 3,792
Amortization of purchased intangible assets 1,399 999
Earnings on cash surrender value of life insurance policies (1,324) (1,056)
Prepayment penalty on FHLB advance 214  
Securities gains, net (13) (144)
Gain on loans sold (4,912) (4,512)
Loans originated for sale (175,769) (185,098)
Proceeds from loan sales 184,172 190,166
Gain on life insurance benefit (256)  
Stock based compensation expense 777 713
Stock portion of director retainer fee expense 241 282
(Gain)/Loss on sale and write-down of OREO 226 253
Excess tax benefit related to stock based compensation (402)  
Change in other assets and liabilities 2,845 (7,520)
Net cash provided by operating activities 50,590 31,436
Investing Activities    
Net change in short term investments (200)  
Purchases of securities available for sale (176,875) (186,209)
Proceeds from calls, maturities, and payments on securities available for sale 91,313 100,835
Proceeds from sales of securities available for sale 56,441 85,738
Loan originations and payments, net 30,059 (73,574)
Purchases of premises and equipment (4,760) (12,179)
Proceeds from sale of OREO 2,230 3,185
Proceeds from redemption of FHLB stock 2,307 3,090
Purchase of FHLB stock (5,168) (4,676)
Proceeds from life insurance benefit 511  
Cash received/(paid) from business acquisitions, net 2,845 (11,289)
Net cash used by investing activities (1,297) (95,079)
Financing Activities    
Net change in deposits (55,755) 28,558
Net change in other borrowings (10,271) 59,713
Proceeds from FHLB advances 132,000 420,000
Repayment of FHLB advances (114,694) (442,006)
Proceeds from term debt   30,000
Cash dividends on common stock (12,557) (10,445)
Purchase of treasury shares (380) (333)
Repayment on term debt (5,000) (10,000)
Proceeds from exercise of stock options 1,089 907
Net cash provided by financing activities (65,568) 76,394
Net change in cash and cash equivalents (16,275) 12,751
Cash and cash equivalents, beginning of year 86,552 67,578
Cash and cash equivalents, end of period 70,277 80,329
Supplemental cash flow information    
Interest paid 11,497 8,330
Income taxes paid 7,300 3,005
Supplemental non cash disclosure    
Loan balances transferred to foreclosed real estate $ 1,470 $ 1,547