Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating activities:    
Net income $ 25,969 $ 22,085
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation of bank premises and equipment 5,049 5,005
Other-than-temporary impairment recognized in earnings    400
Amortization, net 7,658 5,300
Provision for loan losses 8,900 14,400
(Gains) losses on the sale of investment securities (4) (483)
(Increase) decrease in loans held for sale, net (67,142) 12,188
(Gains) losses on sales of other real estate owned, net 442 328
(Gains) losses on sales of bank premises, net (34) 644
Stock-based compensation expense 938 467
(Increase) decrease in other assets (634) 4,263
Increase in other liabilities 2,630 11,048
Net cash and cash equivalents provided by (used in) operating activities (16,228) 75,645
Investing activities:    
Purchases of securities available for sale (131,262) (130,160)
Proceeds from sales of securities available for sale 2,186 18,365
Proceeds from maturities, calls and paydowns of securities available for sale 125,988 87,585
Net (increase) decrease in loans (109,812) 69,306
Net increase in bank premises and equipment (1,731) (3,742)
Proceeds from sales of other real estate owned 9,148 10,557
Improvements to other real estate owned (358)  
Cash paid in bank acquisition   (26,437)
Cash acquired in bank and branch acquisitions   230
Net cash and cash equivalents provided (used in) investing activities (105,841) 25,704
Financing activities:    
Net increase in noninterest-bearing deposits 69,739 53,459
Net increase in interest-bearing deposits (45,065) (37,511)
Net increase (decrease) in short-term borrowings 91,121 (22,517)
Net (decrease) increase in long-term borrowings (19,121) 366
Cash dividends paid - common stock (6,058) (5,460)
Cash dividends paid - preferred stock   (1,386)
Repurchase of common stock (2,862)  
Taxes paid related to net share settlement of equity awards (26)  
Issuance of common stock 16 324
Net cash and cash equivalents provided by (used in) financing activities 87,744 (12,725)
Increase (decrease) in cash and cash equivalents (34,325) 88,624
Cash and cash equivalents at beginning of the period 96,659 61,153
Cash and cash equivalents at end of the period 62,334 149,777
Cash payments for:    
Interest 22,495 25,265
Income taxes 4,300 4,238
Supplemental schedule of noncash investing and financing activities    
Unrealized gain on securities available for sale 5,887 15,834
Changes in fair value of interest rate swap (492) (2,826)
Transfers from loans to other real estate owned 11,409 9,236
Increase in assets and liabilities:    
Loans   70,817
Other assets   4,324
Noninterest bearing deposits   4,366
Interest bearing deposits   44,503
Other liabilities   $ 65