| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||||
Net income | ||||||||||
169,063 | 168,641 | 150,717 | 103,812 | 91,230 | 91,353 | 78,829 | 77,068 | 73,142 | 63,320 | 41,445 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation | ||||||||||
15,891 | 15,749 | 16,024 | 14,398 | 13,132 | 13,082 | 12,236 | 11,482 | 11,374 | 10,219 | 10,299 |
Amortization of intangible assets | ||||||||||
15,956 | 18,155 | 16,941 | 5,479 | 3,663 | 4,287 | 4,469 | 4,607 | 4,381 | 5,957 | 8,170 |
The sum of periodic adjustments charged to earnings related to investment securities, loans and borrowings. As a noncash item this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. | ||||||||||
6,176 | 9,404 | 6,619 | 4,405 | 3,289 | 3,533 | 5,959 | -9,379 | 5,373 | -2,249 | -2,141 |
Goodwill Impairment | ||||||||||
- | - | - | - | - | - | - | - | - | - | 3,079 |
Stock-based compensation | ||||||||||
5,285 | 6,064 | 5,137 | 4,783 | 4,201 | 3,993 | 3,961 | 3,668 | 3,784 | 3,523 | 3,100 |
Provision for loan losses | ||||||||||
8,430 | 10,837 | 10,984 | 8,076 | 6,447 | 7,178 | 7,992 | 9,108 | 4,736 | 7,205 | 9,790 |
(Benefit)/provision for deferred income taxes | ||||||||||
2,302 | -2,663 | 28,692 | -13,066 | -10,716 | -7,461 | -7,130 | -12,032 | -12,942 | -9,199 | -3,434 |
Amortization of mortgage servicing rights | ||||||||||
378 | 449 | 499 | 518 | 409 | 444 | 529 | 687 | 868 | 769 | 731 |
Unrealized (loss) gain on equity securities | ||||||||||
19 | 657 | 0 | 0 | - | - | - | - | - | - | - |
Loss on debt prepayment | ||||||||||
0 | -318 | 0 | 0 | - | - | -87,336 | 0 | -91 | - | - |
Income from bank-owned life insurance policies | ||||||||||
1,678 | 1,579 | 1,586 | 1,505 | 1,086 | 1,037 | 1,066 | 1,121 | 894 | 458 | 476 |
Gain on sales of investment securities, net | ||||||||||
4,882 | 0 | 2 | 0 | -4 | 0 | 80,768 | 291 | 30 | 0 | - |
The gains (losses) included in earnings that represent the difference between the sale price and the carrying value of loans and leases and other assets that were sold during the reporting period. This element refers to the gain (loss) and not to the cash proceeds of the sales. This element is a adjustment to net income when calculating net cash generated by operating activities using the indirect method. | ||||||||||
-11 | 80 | -181 | 837 | 180 | 154 | -257 | -247 | 422 | 1,032 | 1,098 |
Loss (Gain) from sale of investment securities and debt extinguishments, net | ||||||||||
- | - | - | - | - | - | - | - | - | - | -7 |
Net change in loans originated for sale | ||||||||||
- | - | - | - | - | - | - | -608 | -4,047 | 309 | -1,092 |
Change in other assets and other liabilities | ||||||||||
-2,545 | -10,252 | -26,090 | 7,614 | 5,681 | 970 | 11,762 | 292 | 14,268 | 3,554 | 37,566 |
Net cash provided by operating activities | ||||||||||
202,502 | 221,408 | 189,674 | 135,771 | 119,566 | 122,104 | 103,184 | 108,424 | 94,378 | 97,088 | 44,134 |
Investing activities: | ||||||||||
Proceeds from sales of securities | ||||||||||
590,179 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from sales of available-for-sale investment securities | ||||||||||
- | - | - | - | 221,136 | 0 | 713,694 | 5,378 | 15,330 | 0 | 27 |
Proceeds from sales of held-to-maturity investment securities | ||||||||||
- | - | - | - | - | - | 450,032 | 0 | 0 | - | - |
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities | ||||||||||
209,857 | 140,784 | 157,278 | 109,638 | 169,562 | 137,282 | 234,021 | 215,223 | 254,368 | 157,563 | 253,629 |
Proceeds from sales of other securities | ||||||||||
- | - | - | - | - | - | - | - | 1,032 | 1,201 | 0 |
Proceeds from maturities of held-to-maturity investment securities | ||||||||||
- | - | - | - | - | - | 31,595 | 28,340 | 65,062 | 76,081 | 108,927 |
Proceeds from maturities and redemptions of equity and other investment securities | ||||||||||
3,995 | 5,867 | 30,116 | 8,703 | 1,790 | 13 | 26,649 | - | - | - | - |
Purchases of available-for-sale investment securities | ||||||||||
810,122 | 78,131 | 90,380 | 65,966 | 503,000 | 310,517 | 923,588 | 752,891 | 353,498 | 149,883 | 94,339 |
Proceeds from maturities of other securities | ||||||||||
- | - | - | - | - | - | - | 278 | - | - | - |
The cash outflow to acquire equity and other securities. | ||||||||||
202 | 31 | 13,302 | 4,612 | - | - | - | - | - | - | - |
Purchases of held-to-maturity investment securities | ||||||||||
- | - | - | - | - | - | 8,308 | 110,925 | 13,292 | 345,187 | 369,374 |
Purchases of other securities | ||||||||||
- | - | - | - | 0 | 7,500 | 0 | 615 | 2,908 | 0 | 390 |
Net decrease in loans | ||||||||||
140,382 | 35,414 | -164,846 | 159,871 | 176,754 | 137,207 | 248,962 | 239,174 | -16,078 | -68,691 | 29,200 |
Cash paid for acquisitions, net of cash acquired of $0 and $0, respectively | ||||||||||
4,653 | 1,737 | 107,414 | 575 | -25,505 | 924 | -291,980 | -600,972 | 4,746 | 0 | -358 |
The cash inflow from settlement of bank-owned life insurance policies. | ||||||||||
1,597 | 0 | 1,779 | 3,127 | 0 | 1,097 | - | - | - | - | - |
Purchases of premises and equipment, net | ||||||||||
5,686 | 12,646 | 10,819 | 12,442 | 12,400 | 13,376 | 13,855 | 10,846 | 9,613 | 15,716 | -13,894 |
Real estate tax credit investments | ||||||||||
1,637 | 1,197 | 733 | 0 | 0 | - | - | - | - | - | - |
Net cash provided by investing activities | ||||||||||
-157,054 | 17,495 | 131,371 | -121,998 | -274,161 | -331,132 | 553,258 | -264,260 | -22,695 | -207,250 | -86,572 |
Financing activities: | ||||||||||
Net increase in deposits | ||||||||||
104,435 | -122,049 | -79,940 | 202,480 | 238,969 | 39,220 | -35,451 | 34,832 | 89,646 | - | - |
Net change in noninterest checking, checking, and savings accounts | ||||||||||
- | - | - | - | - | - | - | - | - | 246,453 | 491,821 |
Net change in time deposits | ||||||||||
- | - | - | - | - | - | - | - | - | -236,893 | -268,147 |
Net decrease in borrowings | ||||||||||
-64,405 | -47,339 | -144,809 | -155,100 | -36,700 | 196,087 | -673,484 | -220 | -19,938 | -26,318 | -5,779 |
The cash outflow from the repayment of subordinated long-term debt owed to unconsolidated subsidiary trusts. | ||||||||||
22,681 | 25,207 | 0 | - | - | - | - | - | - | - | - |
Payments on subordinated debt held by unconsolidated subsidiary trusts | ||||||||||
- | - | - | 0 | - | - | - | - | - | - | - |
Issuance of common stock | ||||||||||
6,915 | 6,443 | 4,563 | 10,543 | 9,774 | 9,417 | 15,239 | 64,145 | 5,351 | 6,433 | 1,241 |
Purchases of treasury stock | ||||||||||
286 | 298 | 3,306 | 3,470 | 9,126 | 4,368 | 0 | 0 | - | - | - |
Sales of treasury stock | ||||||||||
6,884 | 12,561 | 10,060 | 8,888 | 16,571 | 1,531 | 0 | 0 | - | - | - |
Increase in deferred compensation arrangements | ||||||||||
286 | 298 | 3,306 | 0 | 0 | - | - | - | - | - | - |
Cash dividends paid | ||||||||||
80,241 | 71,495 | 62,305 | 55,048 | 49,273 | 46,178 | 43,482 | 40,765 | 34,404 | 30,394 | 28,788 |
Withholding taxes paid on share-based compensation | ||||||||||
-3,159 | -1,021 | -1,433 | -1,419 | -806 | 2,068 | 1,825 | 1,524 | 703 | 842 | 213 |
Net cash provided by financing activities | ||||||||||
-52,252 | -248,107 | -273,864 | 6,874 | 169,409 | 197,777 | -735,353 | 59,516 | 41,358 | -39,877 | 190,561 |
Change in cash and cash equivalents | ||||||||||
-6,804 | -9,204 | 47,181 | 20,647 | 14,814 | -11,251 | -78,911 | -96,320 | 113,041 | -150,039 | 148,123 |
Supplemental disclosures of cash flow information: | ||||||||||
Cash paid for interest | ||||||||||
25,425 | 17,926 | 13,705 | 11,268 | 11,252 | 11,937 | 30,141 | 51,541 | 61,564 | 67,485 | 85,011 |
Cash paid for income taxes | ||||||||||
46,457 | 30,266 | 41,231 | 32,239 | 28,891 | 29,457 | 23,648 | 16,462 | 20,810 | 12,630 | 5,434 |
Supplemental disclosures of noncash financing and investing activities: | ||||||||||
Transfers from loans to other real estate | ||||||||||
2,522 | 3,299 | 3,518 | 2,612 | 3,943 | 2,546 | 8,325 | 5,059 | 5,186 | 3,839 | 2,373 |
Transfer of investment securities from held-to-maturity to available-for-sale | ||||||||||
- | - | - | - | - | - | 198,890 | 0 | 0 | - | - |
Acquisitions: | ||||||||||
Common stock issued for acquisition | ||||||||||
0 | 0 | 343,132 | 0 | 102,202 | 0 | 0 | - | - | - | - |
Fair value of assets acquired, excluding acquired cash and intangibles | ||||||||||
548,856 | 115 | 1,961,246 | 0 | 675,025 | 64 | 3,678 | 165,885 | 815,824 | 0 | 63 |
Fair value of liabilities assumed | ||||||||||
589,733 | 31 | 1,870,449 | 0 | 700,574 | 0 | 303,494 | 798,031 | 791,222 | 0 | - |