XML 26 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited)
6 Months Ended
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 38,985,000 $ 26,910,000
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 7,242,000 6,431,000
Provision for loan losses 1,125,000 200,000
Deferred income tax expense 415,000 5,372,000
Net loss on sale of securities 27,000 315,000
Net loss on fixed assets 13,000 110,000
Loss on extinguishment of debt 437,000 122,000
Net loss on other real estate owned and foreclosed assets 41,000 630,000
Realized gain on sale leaseback transaction (517,000) (517,000)
Stock based compensation 1,633,000 1,362,000
Excess tax benefit related to equity award activity (327,000) (546,000)
Increase in cash surrender value of life insurance policies (1,996,000) (1,727,000)
Change in fair value on loans held for sale (13,000) (184,000)
Net change in:    
Trading assets (443,000) (489,000)
Loans held for sale (6,924,000) (3,656,000)
Other assets (45,265,000) 16,066,000
Increase (Decrease) in Other Operating Liabilities 19,615,000 (12,527,000)
Total adjustments (24,937,000) 10,962,000
Net cash provided by operating activities 14,048,000 37,872,000
Cash flows used in investing activities    
Proceeds from sales of securities available for sale 285,000 14,344,000
Proceeds from maturities and principal repayments of securities available for sale 32,625,000 34,849,000
Purchases of securities available for sale (46,358,000) (34,193,000)
Proceeds from maturities and principal repayments of securities held to maturity 39,028,000 29,030,000
Purchases of securities held to maturity   (81,859,000)
Redemption of Federal Home Loan Bank stock 3,127,000  
Investments in low income housing projects (4,431,000) (12,272,000)
Purchases of life insurance policies (101,000) (100,000)
Net increase in loans (126,406,000) (1,137,000)
Cash used in business combinations, net of cash acquired 0 (13,448,000)
Purchases of bank premises and equipment (4,003,000) (4,537,000)
Proceeds from the sale of bank premises and equipment 14,000 347,000
Proceeds from the sale of other real estate owned and foreclosed assets 795,000 3,879,000
Net payments relating to other real estate owned and foreclosed assets (145,000) (765,000)
Net cash used in investing activities (105,570,000) (65,862,000)
Cash flows provided by financing activities    
Net decrease in time deposits (40,755,000) (39,853,000)
Net increase in other deposits 247,944,000 367,667,000
Net repayments of short-term Federal Home Loan Bank borrowings   (10,000,000)
Repayments of long-term Federal Home Loan Bank borrowings (51,641,000) (3,000,000)
Net increase (decrease) in customer repurchase agreements 5,758,000 (28,451,000)
Repayments of subordinated debentures 0 (30,000,000)
Net proceeds from exercise of stock options 144,000 311,000
Restricted stock awards issued, net of awards surrendered (673,000) (645,000)
Excess tax benefit from stock based compensation 327,000 546,000
Tax benefit from deferred compensation distribution 179,000 165,000
Proceeds from shares issued under direct stock purchase plan 1,060,000 1,327,000
Common dividends paid (14,449,000) (12,555,000)
Net cash provided by financing activities 147,894,000 245,512,000
Net increase in cash and cash equivalents 56,372,000 217,522,000
Cash and cash equivalents at beginning of year 275,765,000 178,254,000
Cash and cash equivalents at end of period 332,137,000 395,776,000
Supplemental schedule of noncash investing and financing activities    
Real Estate Owned, Transfer from Real Estate Owned 377,000 983,000
Other net transfers to other real estate owned   142,000
Net decrease in capital commitments relating to low income housing project investments 180,000 1,055,000
Common stock issued for acquisition $ 0 86,415,000
Fair value of assets acquired, net of cash acquired   598,376,000
Fair value of liabilities assumed   $ 498,513,000