Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities:    
Net income $ 37,519 $ 26,392
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation of bank premises and equipment 8,160 4,542
Writedown of OREO 7,265 491
Amortization, net 18,351 10,675
Accretion and amortization related to acquisition, net (7,870)  
Provision for loan losses 3,300 4,850
Gains on securities transactions, net (1,449) (47)
Decrease in loans held for sale, net 33,093 109,519
(Gains) losses on sales of other real estate owned, net (128) 224
Losses on bank premises, net 384 337
Stock-based compensation expenses 862 622
Issuance of common stock grants for services 362  
Net decrease (increase) in other assets 12,115 (26,255)
Net (decrease) increase in other liabilities (3,791) 7,266
Net cash and cash equivalents provided by operating activities 108,173 138,616
Investing activities:    
Purchases of securities available for sale (351,153) (177,948)
Proceeds from sales of securities available for sale 273,447 42,843
Proceeds from maturities, calls and paydowns of securities available for sale 111,390 106,327
Net decrease (increase) in loans 100,844 (48,515)
Net increase in bank premises and equipment (5,262) (2,981)
Proceeds from sales of other real estate owned 9,929 5,085
Improvements to other real estate owned (262) (460)
Cash acquired in bank acquisitions 49,989  
Net cash and cash equivalents provided by (used in) investing activities 188,922 (75,649)
Financing activities:    
Net increase in noninterest-bearing deposits 100,629 51,298
Net decrease in interest-bearing deposits (175,918) (124,140)
Net (decrease) increase in short-term borrowings (84,665) 18,932
Net increase in long-term borrowings 1,518 [1] 1,668 [1]
Cash dividends paid - common stock (19,020) (9,296)
Repurchase of common stock (43,477) (9,499)
Issuance of common stock 1,072 269
Taxes paid related to net share settlement of equity awards (1,565) (19)
Net cash and cash equivalents used in financing activities (221,426) (70,787)
Increase (decrease) in cash and cash equivalents 75,669 (7,820)
Cash and cash equivalents at beginning of the period 73,023 82,902
Cash and cash equivalents at end of the period 148,692 75,082
Cash payments for:    
Interest 21,210 16,258
Income taxes 12,400 7,900
Supplemental schedule of noncash investing and financing activities    
Unrealized gain (loss) on securities available for sale 21,786 (18,846)
Changes in fair value of interest rate swap loss (3) 1,589
Transfers from loans to other real estate owned 5,257 7,227
Transfers from bank premises to other real estate owned 10,866 988
Transactions related to bank and branch acquisitions    
Assets acquired 2,959,212  
Liabilities assumed $ 2,647,165  
[1] See Note 6 "Borrowings" related to 2014 activity.