CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2016 |
Mar. 31, 2015 |
| Operating activities: |
|
|
| Net income |
$ 13,818
|
$ 13,511
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Provision for loan and lease losses |
975
|
357
|
| Depreciation of premises and equipment |
1,283
|
1,148
|
| Depreciation of equipment owned and leased to others |
5,101
|
4,088
|
| Stock-based compensation |
784
|
1,239
|
| Amortization of investment security premiums and accretion of discounts, net |
1,257
|
1,111
|
| Amortization of mortgage servicing rights |
332
|
393
|
| Deferred income taxes |
611
|
(139)
|
| Gains on investment securities available-for-sale |
(10)
|
0
|
| Originations of loans held for sale, net of principal collected |
(23,007)
|
(34,517)
|
| Proceeds from the sales of loans held for sale |
21,502
|
26,347
|
| Net gain on sale of loans held for sale |
(669)
|
(1,046)
|
| Net gain on sale of other real estate and repossessions |
(140)
|
(564)
|
| Change in trading account securities |
0
|
(3)
|
| Change in interest receivable |
(664)
|
(224)
|
| Change in interest payable |
273
|
(250)
|
| Change in other assets |
(1,230)
|
167
|
| Change in other liabilities |
6,029
|
5,851
|
| Other |
(517)
|
230
|
| Net change in operating activities |
25,728
|
17,699
|
| Investing activities: |
|
|
| Proceeds from sales of investment securities |
511
|
0
|
| Proceeds from maturities of investment securities |
44,416
|
19,807
|
| Purchases of investment securities |
(52,003)
|
(23,458)
|
| Net change in other investments |
0
|
240
|
| Loans sold or participated to others |
0
|
1,373
|
| Net change in loans and leases |
(37,666)
|
(19,203)
|
| Net change in equipment owned under operating leases |
(5,142)
|
(12,585)
|
| Purchases of premises and equipment |
(2,298)
|
(520)
|
| Proceeds from sales of other real estate and repossessions |
573
|
5,654
|
| Net change in investing activities |
(51,609)
|
(28,692)
|
| Financing activities: |
|
|
| Net change in demand deposits and savings accounts |
18,491
|
37,774
|
| Net change in time deposits |
67,471
|
29,826
|
| Net change in short-term borrowings |
(51,315)
|
(45,676)
|
| Proceeds from issuance of long-term debt |
10,000
|
0
|
| Payments on long-term debt |
(387)
|
(459)
|
| Acquisition of treasury stock |
(8,005)
|
(2,964)
|
| Cash dividends paid on common stock |
(4,868)
|
(4,434)
|
| Net change in financing activities |
31,387
|
14,067
|
| Net change in cash and cash equivalents |
5,506
|
3,074
|
| Cash and cash equivalents, beginning of year |
79,721
|
66,190
|
| Cash and cash equivalents, end of period |
85,227
|
69,264
|
| Non-cash transactions: |
|
|
| Loans transferred to other real estate and repossessed assets |
592
|
4,945
|
| Common stock matching contribution to Employee Stock Ownership and Profit Sharing Plan |
$ 800
|
$ 500
|