Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities:    
Net income $ 57,737 $ 56,699
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:    
Depreciation of premises and equipment 8,307 7,617
Writedown of OREO 845 879
Amortization, net 10,500 10,241
Amortization (accretion) related to acquisition, net (158) 1,400
Provision for credit losses 7,345 7,376
Gains on securities transactions, net (782) (145)
BOLI income (3,999) (4,122)
Decrease (increase) in loans held for sale, net 5,591 (10,784)
Losses (gains) on sales of other real estate owned, net 32 (278)
Losses on sales of premises, net 51 97
Stock-based compensation expenses 3,472 2,284
Issuance of common stock for services 561 379
Net decrease (increase) in other assets 4,952 (11,169)
Net increase in other liabilities 909 11,192
Net cash and cash equivalents provided by (used in) operating activities 95,363 71,666
Investing activities:    
Purchases of securities available for sale and restricted stock (205,965) (159,863)
Purchases of securities held to maturity (7,836) 0
Proceeds from sales of securities available for sale and restricted stock 91,911 18,272
Proceeds from maturities, calls and paydowns of securities available for sale 88,675 83,942
Proceeds from maturities, calls and paydowns of securities held to maturity 818 1,841
Net increase in loans held for investment (594,967) (479,346)
Net increase in premises and equipment (7,139) (5,102)
Proceeds from BOLI settlements 2,497 0
Proceeds from sales of other real estate owned 1,028 4,982
Cash paid in acquisition 0 (4,077)
Cash acquired in acquisitions 0 207
Net cash and cash equivalents provided by (used in) investing activities (630,978) (539,144)
Financing activities:    
Net increase in noninterest-bearing deposits 141,524 69,331
Net increase in interest-bearing deposits 360,813 225,239
Net increase in short-term borrowings 40,556 276,748
Cash paid for contingent consideration (3,003) 0
Proceeds from issuance of long-term debt 20,000 0
Repayments of long-term debt 0 (32,500)
Cash dividends paid - common stock (26,207) (24,957)
Repurchase of common stock 0 (33,176)
Issuance of common stock 969 753
Vesting of restricted stock, net of shares held for taxes (1,313) (445)
Net cash and cash equivalents provided by (used in) financing activities 533,339 480,993
Increase (decrease) in cash and cash equivalents (2,276) 13,515
Cash and cash equivalents at beginning of the period 179,237 142,660
Cash and cash equivalents at end of the period 176,961 156,175
Cash payments for:    
Interest 33,947 21,812
Income taxes 19,600 19,800
Supplemental schedule of noncash investing and financing activities    
Transfers between loans and other real estate owned 585 865
Issuance of common stock in exchange for net assets in acquisition $ 0 $ 453