XML 44 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 12,252 $ 12,183
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 2,064 2,589
Provision for loan losses 1,300 1,600
Deferred income tax expense (benefit) 2 (9)
Loss (gain) on sale of fixed assets 28 (9)
Loss on sale of other real estate owned and foreclosed assets 198 95
Gain realized from early termination of hedging relationship    (22)
Realized gain on sale leaseback transaction (258) (258)
Stock based compensation 760 853
Increase in cash surrender value of life insurance policies (746) (713)
Change in fair value on loans held for sale 140 269
Net change in:    
Trading assets    (265)
Loans held for sale 11,257 (2,615)
Other assets 10,924 3,835
Other liabilities (11,862) (8,369)
Total adjustments 13,807 (3,019)
Net cash provided by operating activities 26,059 9,164
Cash flows used in investing activities    
Proceeds from maturities and principal repayments of securities available for sale 26,708 23,079
Purchase of securities available for sale (34,725) (71,765)
Proceeds from maturities and principal repayments of securities held to maturity 13,950 13,728
Purchase of securities held to maturity (44,902) (9,975)
Redemption of Federal Home Loan Bank stock 3,093 2,290
Purchase of life insurance policies (93) (95)
Net decrease (increase) in loans 29,167 (78,900)
Purchase of bank premises and equipment (1,478) (2,762)
Proceeds from the sale of bank premises and equipment    11
Proceeds resulting from early termination of hedging relationship    22
Proceeds from the sale of other real estate owned and foreclosed assets 1,206 1,492
Net cash used in investing activities (7,074) (122,875)
Cash flows provided by financing activities    
Net increase (decrease) in time deposits 15,141 (5,250)
Net (decrease) increase in other deposits (10,408) 74,134
Net decrease in wholesale and customer repurchase agreements (23,741) (18,450)
Net decrease in short term Federal Home Loan Bank advances (15,829) (35,000)
Proceeds from exercise of stock options 451 439
Tax benefit from stock option exercises 166 69
Restricted shares surrendered (507) (229)
Tax benefit from deferred compensation distribution 100 86
Shares issued under direct stock purchase plan 8 285
Common dividends paid    (4,085)
Net cash (used in) provided by financing activities (34,619) 11,999
Net decrease in cash and cash equivalents (15,634) (101,712)
Cash and cash equivalents at beginning of year   215,474
Supplemental schedule of noncash investing and financing activities    
Transfer of loans to foreclosed assets 771 1,503
Transfer of securities from trading to available for sale    $ 8,505