Investor Relations

Cash Flow Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q3 YTD
Source Document12/31/201512/31/201612/31/201612/31/20169/30/2017
(in thousands)     
Cash flows from operating activities 
Net income 70,53473,63183,72287,80274,466
Adjustments to reconcile net income to net cash provided by operating activities 
Depreciation and amortization of intangibles 8,77611,13313,71412,7608,864
Provision for loan losses 5,5004,6504,3505,4003,700
Deferred tax expense 5,5313,6663263,160640
Increase in cash surrender value of Bank-owned life insurance (6,596)(5,633)(5,345)(5,470)NA
Income on Bank-owned life insurance NANANANA(5,291)
Net amortization of premiums and discounts on securities 12,94210,46110,61310,8317,504
Accretion of net deferred loan fees (3,877)(3,364)(4,624)(3,408)(3,673)
Amortization of premiums on purchased loans, net 1,2866941,1001,311800
Net increase in loans originated for sale (30,977)(12,609)(11,918)(34,976)(18,386)
Proceeds from sales of loans originated for sale 32,44714,01812,79937,00819,149
Proceeds from sales and paydowns of foreclosed assets 13,6866,4944,4436,1094,883
ESOP expense 2,5592,6542,9973,7063,167
Allocation of stock award shares 4,8696,3594,6253,8123,702
Allocation of stock options 297298272172150
Excess tax benefits related to stock-based compensation NA00191NA
Net gain on sale of loans (1,470)(1,409)(881)(2,032)(763)
Net gain on securities transactions (996)(251)(654)(64)(47)
Impairment charge on securities 434NANANANA
Net gain on sale of premises and equipment (42)(5)(4)(14)(8)
Net gain on sale of foreclosed assets (403)(516)(592)(585)(768)
(Increase) decrease in accrued interest receivable 1,046787(538)(1,316)(316)
Increase in other assets 4,202(17,105)(4,912)5,682(2,407)
(Decrease) increase in other liabilities 1737,7215,373(2,770)(4,846)
Net cash provided by operating activities 119,921101,674114,866127,30990,520
Cash flows from investing activities 
Proceeds from maturities, calls and paydowns of investment securities held to maturity 97,97441,05737,27162,97542,382
Purchases of investment securities held to maturity (97,964)(73,397)(44,254)(80,349)(38,074)
Proceeds from sales of securities 14,83425,03314,0053,4010
Proceeds from maturities, calls and paydowns of securities available for sale 351,472207,531212,095211,440160,436
Purchases of securities available for sale (303,334)(63,835)(129,720)(306,151)(149,647)
Net increase in Federal Home Loan Bank stock (20,527)NANANANA
Proceeds from redemption of Federal Home Loan Bank stock NA84,98887,51056,50596,040
Purchases of Federal Home Loan Bank stock NA(90,262)(95,902)(54,050)(91,210)
Net cash and cash equivalents (paid) received in acquisition 068,650(25,855)0NA
BOLI benefits paid 007760NA
Death benefit proceeds from bank-owned life insurance NANANANA4,428
Purchases of loans (34,766)(130,540)(95,283)(28,590)0
Net increase in loans (259,359)(129,240)(363,436)(440,999)(23,888)
Proceeds from sales of premises and equipment 351,90319148
Purchases of premises and equipment (7,709)(16,441)(5,909)(4,995)(1,690)
Net cash used in investing activities (259,344)(74,553)(408,683)(580,799)(1,215)
Cash flows from financing activities 
Net increase in deposits (226,504)(179,886)131,464629,64237,587
Increase in mortgage escrow deposits (666)1,2501,6961,107734
Cash dividends paid to stockholders (32,320)(36,118)(41,285)(45,369)(38,659)
Shares issued through the dividend reinvestment plan 1,2441,3361,4471,6521,339
Purchases of treasury stock (5,899)(3,547)0(1,557)(443)
Purchase of employee restricted shares to fund statutory tax withholding NA(873)(1,988)(1,225)(726)
Stock options exercised 3541173,1666,1982,534
Proceeds from long-term borrowings 301,000595,063694,937355,000248,220
Payments on long-term borrowings (79,090)(289,757)(549,935)(485,202)(345,387)
Net increase (decrease) in short-term borrowings 178,705(112,168)52,77935,3159,982
Net cash (used in) provided by financing activities 136,824(24,583)292,281495,561(84,819)
Net increase in cash and cash equivalents (2,599)2,538(1,536)42,0714,486
Cash and cash equivalents at beginning of period 103,823101,224103,762102,226144,297
Cash and cash equivalents at end of period 101,224103,762102,226144,297148,783
Cash paid during the period for 
Interest on deposits and borrowings 36,72739,95241,66344,00434,127
Income taxes 29,11925,77640,62033,88627,411
Non-cash investing activities 
Transfer of loans receivable to foreclosed assets 6,6025,38210,0743,6312,195
Non-cash assets acquired 
Investment securities available for sale 0157,63500NA
Loans 0631,20900NA
Bank-owned life insurance 022,31900NA
Goodwill and other intangible assets, net 050,22225,3230NA
Other assets 033,9391,2700NA
Total non-cash assets acquired 0895,32426,5930NA
Liabilities assumed 
Deposits 0769,93600NA
Borrowings 0112,83500NA
Other Liabilities 0(2,314)4000NA
Total liabilities assumed 0880,4574000NA
Common stock issued for acquisitions 083,51700NA

Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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