XML 27 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 27,555,000 $ 20,725,000
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 4,181,000 3,557,000
Provision for loan losses 500,000 600,000
Deferred income tax expense 359,000 709,000
Unrealized Gain (Loss) on Investments 485,000  
Net gain on sale of securities   (1,000)
Net (gain) loss on bank premises and equipment (7,000) 4,000
Net (gain) loss on other real estate owned and foreclosed assets 1,000 (29,000)
Realized gain on sale leaseback transaction (258,000) (258,000)
Stock based compensation 1,041,000 643,000
Increase in cash surrender value of life insurance policies (947,000) (964,000)
Net change in:    
Trading assets (277,000) (485,000)
Loans held for sale 805,000 2,594,000
Change in Fair Value on Loans Held for Sale 26,000 147,000
Other assets 2,594,000 18,384,000
Increase (Decrease) in Other Operating Liabilities (2,175,000) (8,192,000)
Total adjustments 6,328,000 16,709,000
Net cash provided by operating activities 33,883,000 37,434,000
Payments to Acquire Trading Securities Held-for-investment (78,000)  
Payments to Acquire Available-for-sale Securities, Equity   0
Cash flows used in investing activities    
Proceeds from sales of securities available for sale   16,000
Proceeds from maturities and principal repayments of securities available for sale 11,040,000 12,107,000
Purchases of securities available for sale (37,201,000) (49,617,000)
Proceeds from maturities and principal repayments of securities held to maturity 22,888,000 19,101,000
Purchases of securities held to maturity (53,995,000) (34,090,000)
Net purchases of Federal Home Loan Bank stock (1,430,000) 0
Investments in low income housing projects (1,213,000) (3,437,000)
Purchases of life insurance policies (93,000) (93,000)
Net increase in loans (6,856,000) (64,997,000)
Purchases of bank premises and equipment (2,803,000) (5,457,000)
Proceeds from the sale of bank premises and equipment 52,000 27,000
Proceeds from the sale of other real estate owned and foreclosed assets 253,000 1,255,000
Net cash used in investing activities (69,436,000) (125,185,000)
Cash flows provided by financing activities    
Net increase (decrease) in time deposits 10,486,000 (33,219,000)
Net increase in other deposits 11,804,000 91,721,000
Net decrease in customer repurchase agreements (24,765,000) (31,141,000)
Net proceeds from exercise of stock options 143,000 143,000
Restricted stock awards issued, net of awards surrendered (1,318,000) (1,336,000)
Proceeds from shares issued under direct stock purchase plan 419,000 393,000
Common dividends paid (8,784,000) (7,832,000)
Net cash provided by (used in) financing activities (12,015,000) 18,729,000
Net decrease in cash and cash equivalents (47,568,000) (69,022,000)
Cash and cash equivalents at beginning of year 213,116,000 289,095,000
Cash and cash equivalents at end of period 165,548,000 220,073,000
Supplemental schedule of noncash investing and financing activities    
Real Estate Owned, Transfer from Real Estate Owned   457,000
Net increase in capital commitments relating to low income housing project investments $ 9,000 $ 60,000