XML 31 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:      
NET INCOME $ 45,436 $ 40,240 $ 22,989
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES:      
Depreciation and Amortization 9,634 9,880 5,744
Provision for Loan Losses 11,482 18,655 17,335
Deferred Income Tax Expense (Benefit) 91 (2,494) (2,281)
Net Gain on Sale of Investments (723) (458) (1,354)
Loss on Write-Down of Investments in Securities Available for Sale 243 334 8,958
Loss on Sale of Fixed Assets 353 280 85
Gain Resulting from Early Termination of a Hedging Relationship     (3,778)
Loss on Sale of Other Real Estate Owned and Foreclosed Assets 1,562 367 415
Realized Gain on Sale Leaseback Transaction (1,034) (1,034) (1,034)
Stock Based Compensation 2,483 1,666 774
Increase in Cash Surrender Value of Life Insurance Policies (3,159) (3,192) (2,651)
Change in Fair Value on Loans Held for Sale (856) 593  
Net Change In:      
Trading Assets (643) (1,426) (3,470)
Loans Held for Sale 8,273 (15,044) (5,115)
Other Assets (32,482) (15,608) 9,820
Other Liabilities 14,871 13,894 (15,021)
TOTAL ADJUSTMENTS 10,095 6,413 8,427
NET CASH PROVIDED BY OPERATING ACTIVITIES 55,531 46,653 31,416
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:      
Proceeds from Sales of Securities Available for Sale 14,639 6,423 168,556
Proceeds from Maturities and Principal Repayments of Securities Available for Sale 108,312 173,608 158,458
Purchases of Securities Available for Sale (50,975) (46,349) (92,966)
Proceeds from Maturities and Principal Repayments of Securities Held to Maturity 44,090 22,570 7,660
Purchases of Securities Held to Maturity (47,343) (132,331) (68,381)
Purchases of Bank Owned Life Insurance (267) (267) (267)
Net Increase in Loans (256,282) (187,374) (69,905)
Cash Used in Business Combinations (457) (269) 97,335
Purchase of bank premises and equipment (8,317) (7,022) (6,601)
Proceeds from the Sale of Bank Premises and Equipment 496 37 67
Proceeds Resulting from Early Termination of a Hedging Relationship     6,099
Proceeds from the Sale of Other Real Estate Owned and Foreclosed Assets 6,276 7,190 5,124
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (189,828) (163,784) 205,179
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Net Decrease in Time Deposits (63,014) (224,605) (170,699)
Net Increase in Other Deposits 312,060 477,094 265,506
Net Increase (Decrease) in Federal Funds Purchased and Assets Sold Under Repurchase Agreements 48,009 (22,333) 19,572
Net Decrease in Short Term Federal Home Loan Bank Advances (5,000) (10,000) (81,000)
Net Decrease in Long Term Federal Home Loan Bank Advances (67,144) (50,000) (180,910)
Net Increase (Decrease) in Treasury Tax & Loan Notes (3,044) 892 (794)
Proceeds from Issuance of Preferred Stock and Stock Warrants     78,158
Redemption of Preferred Stock     (78,158)
Redemption of Warrants     (2,200)
Proceeds from Exercise of Stock Options 4,127 743 307
Restricted Shares Surrendered (361) (114) (3)
Tax Benefit (Expense) from Equity Award Activity and Deferred Compensation 100 68 (3)
Proceeds from Shares Issued Under Direct Stock Purchase Plan 824    
DIVIDENDS PAID      
Preferred Dividends     (1,118)
Common Dividends (16,038) (15,237) (13,455)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 210,519 156,508 (164,797)
NET INCREASE IN CASH AND CASH EQUIVALENTS 76,222 39,377 71,798
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 161,282 121,905 50,107
CASH AND CASH EQUIVALENTS AT END OF YEAR 237,504 161,282 121,905
CASH PAID DURING THE YEAR FOR      
Interest on Deposits and Borrowings 29,659 38,528 52,884
Income Taxes 18,962 12,627 4,877
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Transfer of Loans to Foreclosed Assets 6,285 10,836 4,440
IN CONJUNCTION WITH THE PURCHASE ACQUISITION DETAILED IN NOTE 2 TO THE CONSOLIDATED FINANCIAL STATEMENTS, ASSETS WERE ACQUIRED AND LIABILITIES WERE ASSUMED AS FOLLOWS:      
Common Stock Issued for Acquisition     84,498
Fair Value of Assets Acquired, Net of Cash Acquired     908,359
Fair Value of Liabilities Assumed     $ 921,945