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
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities:    
Net income $ 31,049 $ 22,382
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:    
Depreciation of bank premises and equipment 5,374 5,470
Writedown of OREO 1,300 1,073
Amortization, net 6,946 7,129
Amortization related to acquisition, net 705 306
Provision for credit losses 5,499 1,500
Gains on securities transactions, net (597) (455)
Decrease in loans held for sale, net 3,069 940
Losses (gains) on sales of other real estate owned, net 100 (30)
Losses on sales of bank premises, net 74 304
Stock-based compensation expenses 403 554
Issuance of common stock for services 200  
Net (increase) decrease in other assets (2,799) 13,062
Net decrease in other liabilities (11,213) (3,341)
Net cash and cash equivalents provided by operating activities 40,110 48,894
Investing activities:    
Purchases of securities available for sale (122,049) (291,070)
Proceeds from sales of securities available for sale 58,157 259,077
Proceeds from maturities, calls and paydowns of securities available for sale 70,086 68,448
Net (increase) decrease in loans (168,449) 41,555
Net increase in bank premises and equipment (3,284) (4,879)
Proceeds from sales of other real estate owned 5,609 7,713
Improvements to other real estate owned (299) (59)
Cash paid for equity-method investments (355)  
Cash acquired in bank acquisitions   49,989
Net cash and cash equivalents (used in) provided by investing activities (160,584) 130,774
Financing activities:    
Net increase in noninterest-bearing deposits 90,298 95,205
Net increase (decrease) in interest-bearing deposits 57,096 (71,978)
Net decrease in short-term borrowings (6,713) (70,906)
Net increase in long-term borrowings 1,027 881
Cash dividends paid - common stock (13,727) (12,503)
Repurchase of common stock (4,130) (33,906)
Issuance of common stock 420 943
Taxes paid related to net share settlement of equity awards (224) (1,547)
Net cash and cash equivalents provided by (used in) financing activities 124,047 (93,811)
Increase in cash and cash equivalents 3,573 85,857
Cash and cash equivalents at beginning of the period 133,260 73,023
Cash and cash equivalents at end of the period 136,833 158,880
Cash payments for:    
Interest 13,784 13,788
Income taxes 12,400 5,800
Supplemental schedule of noncash investing and financing activities    
Unrealized (losses) gains on securities available for sale (5,308) 20,015
Transfer from securities available for sale to securities held to maturity 201,822  
Changes in fair value of interest rate swap loss 632 61
Transfers between loans and other real estate owned 412 2,704
Transfers from bank premises to other real estate owned $ 402 6,052
Issuance of common stock in exchange for net assets in acquisition   549,523
Transactions related to bank and branch acquisitions    
Assets acquired   2,957,521
Liabilities assumed   $ 2,642,120