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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net income $ 92,061 $ 83,914
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 19,408 22,300
Depreciation and amortization of premises and equipment 7,106 6,957
Net amortization on securities 2,495 3,108
Amortization of intangible assets 2,735 3,064
Amortization of operating lease right-of-use assets 5,396 0
Excess tax benefit on stock-based compensation (371) (507)
Stock-based compensation expense 3,596 3,457
Bank owned life insurance income (4,119) (3,852)
Proceeds from sale of loans held for sale 109,661 73,239
Originations of loans held for sale (119,753) (76,959)
Net gains on sale of loans held for sale (475) (181)
Net security (gains) (4,024) (575)
Net (gains) losses on sale of other real estate owned (178) 130
Net change in other assets and other liabilities (9,579) (14,313)
Net cash provided by operating activities 103,959 99,782
Investing activities    
Net cash used in acquisitions 0 (7,884)
Securities available for sale:    
Proceeds from maturities, calls and principal paydowns 226,070 213,732
Proceeds from sales 26,203 0
Purchases (160,781) (102,004)
Securities held to maturity:    
Proceeds from maturities, calls and principal paydowns 165,997 73,217
Purchases (61,150) (249,300)
Equity securities:    
Proceeds from sales 3,966 3,318
Purchases (93) (2)
Other:    
Net increase in loans (146,778) (323,614)
Proceeds from Federal Home Loan Bank stock redemption 147,200 186,869
Purchases of Federal Reserve and Federal Home Loan Bank stock (131,461) (192,584)
Proceeds from settlement of bank owned life insurance 1,085 0
Purchases of premises and equipment, net (4,018) (4,256)
Proceeds from sales of other real estate owned 1,129 2,124
Net cash provided by (used in) investing activities 67,369 (400,384)
Financing activities    
Net increase in deposits 374,955 270,654
Net (decrease) increase in short-term borrowings (428,430) 92,585
Proceeds from issuance of long-term debt 10,598 25,000
Repayments of long-term debt (83) (40,117)
Proceeds from the issuance of shares to employee and other stock plans 543 1,140
Cash paid by employer for tax-withholdings on stock issuance (1,596) (1,792)
Cash dividends (34,174) (31,899)
Net cash (used in) provided by financing activities (78,187) 315,571
Net increase in cash and cash equivalents 93,141 14,969
Cash and cash equivalents at beginning of period 180,955 159,664
Cash and cash equivalents at end of period 274,096 174,633
Cash paid during the period for:    
Interest expense 42,709 26,002
Income taxes paid, net of refund 19,945 31,077
Noncash investing activities:    
Loans transferred to other real estate owned 654 996
Acquisitions:    
Fair value of assets acquired $ 0 $ 6,274