Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Operating activities:    
Net income $ 8,983 $ 7,923
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation of bank premises and equipment 1,546 1,694
Amortization, net 1,476 3,595
Provision for loan losses 2,050 3,500
Losses on the sale of investment securities 11 5
Decrease in loans held for sale, net 40,592 1,248
(Gains) losses on sales of other real estate owned, net (284) 27
Losses on bank premises, net 296 31
Stock-based compensation expenses 318 238
Decrease in other assets 1,281 604
Increase in other liabilities 6,338 5,672
Net cash and cash equivalents provided by operating activities 62,607 24,537
Investing activities:    
Purchases of securities available for sale (54,999) (43,339)
Proceeds from sales of securities available for sale 15,555  
Proceeds from maturities, calls and paydowns of securities available for sale 40,907 40,602
Net increase in loans (12,080) (32,534)
Net increase in bank premises and equipment (577) (2,122)
Proceeds from sales of other real estate owned 877 1,485
Improvements to other real estate owned (30) (319)
Net cash and cash equivalents used in investing activities (10,347) (36,227)
Financing activities:    
Net increase in noninterest-bearing deposits 20,091 30,276
Net (decrease) increase in interest-bearing deposits (6,109) 10,326
Net decrease in short-term borrowings (60,223) (9,952)
Net increase in long-term borrowings 549 [1] 122 [1]
Cash dividends paid - common stock (3,064) (1,694)
Repurchase of common stock (9,499) (2,864)
Taxes paid related to net share settlement of equity awards (14)  
Net cash and cash equivalents (used in) provided by financing activities (58,269) 26,214
(Decrease) increase in cash and cash equivalents (6,009) 14,524
Cash and cash equivalents at beginning of the period 82,902 96,659
Cash and cash equivalents at end of the period 76,893 111,183
Cash payments for:    
Interest 5,688 8,394
Income taxes 1,400 2,914
Supplemental schedule of noncash investing and financing activities    
Unrealized (loss) gain on securities available for sale (3,231) 1,022
Changes in fair value of interest rate swap loss 286 197
Transfers from loans to other real estate owned 2,829 6,593
Transfers from bank premises to other real estate owned $ 778  
[1] See Note 5 "Borrowings" related to 2013 activity.