XML 36 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows From Operating Activities:    
Net income $ 19,272 $ 17,555
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 2,402 2,144
Provision (credit) for off-balance-sheet credit losses 20 (15)
Deferred income tax credit (359) (164)
Depreciation and amortization 2,254 2,124
Premium amortization on investment securities, net 3,651 4,994
Net gains on sales of securities (1,133) (141)
Net gains on loans held-for-sale   (165)
Loss on debt extinguishment 1,084  
Net gain on sale of premises and equipment   (7)
Stock-based compensation expense 1,053 893
Accretion of cash surrender value on bank-owned life insurance (665) (390)
Pension credit (367) (352)
(Increase) decrease in other assets (257) 1,348
Increase in accrued expenses and other liabilities 590 211
Net cash provided by operating activities 27,545 28,035
Cash Flows From Investing Activities:    
Proceeds from sales of held-to-maturity securities 243 2,423
Proceeds from sales of available-for-sale securities 66,140 3,390
Proceeds from maturities and redemptions of investment securities:    
Held-to-maturity 4,580 6,527
Available-for-sale 88,264 74,713
Purchases of investment securities:    
Held-to-maturity (1,619) (516)
Available-for-sale (136,589) (69,716)
Proceeds from sales of loans and loans held-for-sale 1,176 3,265
Net increase in loans (299,349) (184,042)
Net decrease in restricted stock 2,130 2,190
Purchases of premises and equipment, net (3,835) (5,082)
Proceeds from sales of premises and equipment   7
Net cash used in investing activities (278,859) (166,841)
Cash Flows From Financing Activities:    
Net increase in deposits 319,547 174,933
Net decrease in short-term borrowings (73,386) (45,734)
Proceeds from long-term debt 85,362 10,000
Repayment of long-term debt (74,584)  
Proceeds from issuance of common stock, net 2,284 1,683
Proceeds from exercise of stock options 524 766
Tax benefit from stock compensation plans 224 188
Repurchase and retirement of common stock (287) (121)
Cash dividends paid (7,950) (7,154)
Net cash provided by financing activities 251,734 134,561
Net increase (decrease) in cash and cash equivalents 420 (4,245)
Cash and cash equivalents, beginning of year 32,944 35,497
Cash and cash equivalents, end of period 33,364 31,252
Cash paid for:    
Income taxes 5,600 4,219
Interest 12,662 11,726
Noncash investing and financing activities:    
Cash dividends payable $ 2,808 2,583
Loans transferred from portfolio to held-for-sale   $ 2,200