Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities:    
Net income $ 36,298 $ 31,049
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:    
Depreciation of premises and equipment 4,983 5,374
Writedown of OREO 400 1,300
Amortization, net 5,915 6,946
Amortization (accretion) related to acquisition, net 1,077 705
Provision for credit losses 4,904 5,499
Losses (gains) on securities transactions, net (146) (597)
Bank owned life insurance income (2,734) (2,269)
Decrease (increase) in loans held for sale, net (2,084) 3,069
Losses (gains) on sales of other real estate owned, net (1) 100
Losses (gains) on sales of premises, net 72 74
Stock-based compensation expenses 1,487 403
Issuance of common stock for services 240 200
Net decrease (increase) in other assets (8,549) (530)
Net increase (decrease) in other liabilities 1,796 (11,213)
Net cash and cash equivalents provided by (used in) operating activities 43,658 40,110
Investing activities:    
Purchases of securities available for sale (122,690) (122,049)
Proceeds from sales of securities available for sale 15,424 58,157
Proceeds from maturities, calls and paydowns of securities available for sale 56,414 70,086
Proceeds from maturities, calls and paydowns of securities held to maturity 610 0
Net decrease (increase) in loans held for investment (271,689) (168,449)
Net decrease (increase) in premises and equipment (3,059) (3,284)
Proceeds from sales of other real estate owned 2,138 5,609
Improvements to other real estate owned 0 (299)
Cash paid for equity-method investments 0 (355)
Cash paid in acquisition (4,077) 0
Cash acquired in acquisitions 207 0
Net cash and cash equivalents provided by (used in) investing activities (326,722) (160,584)
Financing activities:    
Net increase (decrease) in noninterest-bearing deposits 19,797 90,298
Net increase (decrease) in interest-bearing deposits 112,093 57,096
Net increase (decrease) in short-term borrowings 289,285 (6,713)
Net increase (decrease) in long-term borrowings (16,446) 1,027
Cash dividends paid - common stock (16,685) (13,727)
Repurchase of common stock (30,690) (4,130)
Issuance of common stock 482 420
Vesting of restricted stock, including tax effects (398) (224)
Net cash and cash equivalents provided by (used in) financing activities 357,438 124,047
Increase (decrease) in cash and cash equivalents 74,374 3,573
Cash and cash equivalents at beginning of the period 142,660 133,260
Cash and cash equivalents at end of the period 217,034 136,833
Cash payments for:    
Interest 14,212 13,784
Income taxes 15,800 12,400
Supplemental schedule of noncash investing and financing activities    
Unrealized (losses) gains on securities available for sale 10,208 (5,308)
Transfer from securities available for sale to securities held to maturity 0 201,822
Changes in fair value of interest rate swap loss (3,409) 632
Transfers between loans and other real estate owned 619 412
Transfers from bank premises to other real estate owned 0 402
Issuance of common stock in exchange for net assets in acquisition $ 453 $ 0