XML 37 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating activities:    
Net income $ 20,857 $ 19,287
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 4,975 9,025
Depreciation, amortization and accretion, net 4,940 4,259
Deferred income tax benefit (1,229) (1,487)
Gain on sale of securities available for sale (2,333) (2,882)
Origination of mortgage loans held for sale (129,742) (166,297)
Proceeds from sale of mortgage loans held for sale 142,293 160,143
Bank owned life insurance income (771) (743)
Increase decrease in value of private investment fund   (637)
Proceeds from liquidation of private investment fund   2,846
Loss on the disposal of premises and equipment 22 47
Loss on the sale of other real estate 365 1,177
Gain on acquisition (449)  
Stock compensation expense 1,473 1,118
Excess tax benefits from share-based compensation arrangements (109) (57)
Decrease (increase) in accrued interest receivable and other assets 3,683 (1,956)
Increase in accrued interest payable and other liabilities 4,498 3,394
Net cash provided by operating activities 48,473 27,237
Investing activities:    
Purchases of securities available for sale (282,262) (330,192)
Proceeds from sale of securities available for sale 701  
Proceeds from maturities of securities available for sale 337,762 321,404
Net increase in loans (95,157) (44,306)
Purchases of premises and equipment (1,807) (3,231)
Acquisition, net of cash acquired 8,963  
Proceeds from sale of foreclosed assets 3,102 2,475
Net cash used in investing activities (28,698) (53,850)
Financing activities:    
Net (decrease) increase in deposits (19,677) 72,291
Net increase (decrease) in securities sold under agreements to repurchase and federal funds purchased 9,727 (29,864)
Proceeds from Federal Home Loan Bank advances 575 30,000
Repayments of Federal Home Loan Bank advances (35) (30,008)
Prepayment penalty on modification of Federal Home Loan Bank advances   (872)
Repayments of subordinated debentures   (10,000)
Issuance of common stock for options and dividend reinvestment plan 1,260 585
Excess tax benefits from share-based compensation arrangements 109 57
Common stock repurchases (315) (204)
Cash dividends paid (8,602) (7,909)
Net cash (used in) provided by financing activities (16,958) 24,076
Net increase (decrease) in cash and cash equivalents 2,817 (2,537)
Cash and cash equivalents at beginning of period 67,703 54,920
Cash and cash equivalents at end of period 70,520 52,383
Supplemental cash flow information:    
Income tax payments 6,230 8,025
Cash paid for interest 6,984 9,257
Supplemental non-cash activity:    
Transfers from loans to other real estate owned $ 2,382 $ 3,336