Cash Flow Statement

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 2013 Y2014 Y2015 Y2016 Y
Source Document12/31/201512/31/201612/31/201612/31/2016
(in thousands)    
Operating activities 
Net income 23,31225,49024,54025,126
Adjustments to reconcile net income to net cash provided by operating activities 
Provision for loan losses 8,2081452,1911,255
Depreciation and amortization of property, plant, and equipment 4,6664,4054,1353,563
Amortization of premiums on investments, net 8849611,3751,066
Amortization of FDIC indemnification asset, net 5,5973,9796,3795,474
Amortization of intangible assets 7297871,1181,136
Gain on acquisitions and divestitures, net 0NANANA
Accretion on acquired loans NA(9,645)(7,109)(4,766)
Gain on divestiture, net NA(755)0(3,682)
Gain on sale of loans, net (1,211)(671)(501)0
Equity-based compensation expense 18332110209
Restricted stock awards 70336200322
Issuance of treasury stock to 401(k) plan 00363384
Loss (gain) on sale of property, plant, and equipment, net (158)(113)23238
Loss on sale of other real estate 2,7853,2273,0021,495
(Gain) loss on sale of securities (399)1,385(144)(335)
Net impairment losses recognized in earnings 32073704,646
FHLB debt prepayment fees 05,0081,7020
Proceeds from sale of mortgage loans 75,34828,44321,9930
Originations of mortgage loans (68,348)(28,681)(19,700)0
Decrease in accrued interest receivable 3211,206308454
Decrease in other operating activities (8,257)5,41318,5346,503
Net cash provided by operating activities 44,51841,68958,51943,088
Investing activities 
Proceeds from sale of securities available for sale 105,934162,44310,999104,928
Proceeds from maturities, prepayments, and calls of securities available for sale 87,05548,91529,93199,906
Proceeds from maturities and calls of securities held to maturity 25019019025,190
Payments to acquire securities available for sale (201,138)(6,047)(81,540)(1,174)
Payments to acquire securities held to maturity 0(57,675)(15,003)0
Originations of loans, net (11,662)(64,115)(24,719)(159,243)
Proceeds from FHLB stock, net 4704,3491,279130
Cash proceeds from (paid in) mergers, acquisitions, and divestitures, net (697)178,604(88)29,716
Proceeds from the FDIC 14,3114,7702,6834,403
Payments to acquire property, plant, and equipment, net (2,292)(1,098)(1,239)(793)
Proceeds from sale of other real estate 6,60210,6196,7227,147
Net cash provided by (used in) investing activities (1,167)280,955(70,785)110,210
Financing activities 
(Decrease) increase in noninterest-bearing deposits, net (3,672)68,24633,782(17,482)
Decrease in interest-bearing deposits, net (75,761)(121,912)(161,282)(37,576)
Decrease in federal funds purchased 16,000(16,000)00
(Repayments of) proceeds from securities sold under agreements to repurchase, net (17,810)3,43216,872(40,609)
Repayments of long-term debt (11,594)NANANA
Repayments of FHLB and other borrowings, net NA(63,097)(28,945)(48)
Redemption of preferred stock 00(2,367)0
Proceeds from stock options exercised 855363921
Excess tax benefit from equity-based compensation 958174
Payments for repurchase of treasury stock (28,421)(2,168)(21,525)(23,762)
Payments of common dividends (9,475)(9,200)(9,994)(10,396)
Payments of preferred dividends (992)(910)(219)0
Net cash used in financing activities (131,631)(141,551)(173,607)(128,778)
Net increase (decrease) in cash and cash equivalents (88,280)181,093(185,873)24,520
Cash and cash equivalents at beginning of period 144,84756,567237,66051,787
Cash and cash equivalents at end of period 56,567237,66051,78776,307
Supplemental disclosure - cash flow information 
Cash paid for interest 18,14615,79111,7579,845
Cash paid for income taxes 3,00012,5526,9006,588
Supplemental transactions - noncash items 
Transfer of loans to other real estate 18,43812,6206,3175,162
Loans originated to finance other real estate 3,19667164957

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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