| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
57,840 | 61,445 | 43,145 | 42,601 | 42,238 | 44,193 | 39,812 | 37,534 | 33,087 | 29,321 | 28,120 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation | ||||||||||
3,954 | 4,109 | 3,816 | 4,038 | 4,554 | 4,776 | 5,017 | 5,032 | 4,836 | 4,731 | 4,502 |
Amount of amortization expense attributable to right-of-use asset from operating lease. | ||||||||||
5,989 | 0 | 0 | - | - | - | - | - | - | - | - |
Net gain on sale of other real estate owned | ||||||||||
1,316 | 613 | 924 | 298 | 373 | 2,599 | 509 | -364 | -478 | -1,008 | -664 |
Writedown of other real estate owned | ||||||||||
366 | 769 | 1,071 | 1,242 | 1,143 | 1,967 | 2,166 | 1,059 | 3,454 | 2,631 | 1,246 |
Net gain on sale of building held for sale | ||||||||||
- | - | - | - | - | 1,556 | 0 | 0 | - | - | - |
Provision for loan losses | ||||||||||
159 | 1,400 | 2,000 | 2,950 | 3,700 | 5,100 | 7,000 | 12,000 | 18,750 | 23,200 | 11,310 |
Deferred tax expense | ||||||||||
1,139 | 2,556 | -183 | 3,261 | 3,011 | 2,964 | -1,426 | 1,440 | -2,336 | 581 | 2,154 |
Net amortization of securities | ||||||||||
-2,971 | -3,147 | -4,326 | -4,986 | -5,486 | -5,458 | -6,930 | - | - | - | - |
Stock based compensation expense | ||||||||||
5 | 173 | 150 | 224 | 204 | 325 | 378 | 405 | 287 | 176 | 214 |
Net gain on securities transactions | ||||||||||
- | - | - | 668 | 251 | 717 | 1,622 | 2,161 | 1,428 | 3,352 | 1,848 |
Net (gain) loss on sale of bank premises and equipment | ||||||||||
3 | 1 | -43 | 480 | 0 | 1 | 16 | 3 | 4 | -39 | 48 |
Proceeds from sales and calls of trading securities | ||||||||||
- | - | - | - | - | - | - | - | - | - | 24,936 |
Proceeds from maturities of trading securities | ||||||||||
- | - | - | - | - | - | - | - | - | - | 91,040 |
Net trading losses | ||||||||||
- | - | - | - | - | - | - | - | - | - | -350 |
Decrease (increase) in taxes receivable | ||||||||||
-2,049 | -1,683 | -6,124 | 921 | -3,510 | -723 | 38 | -1,390 | -473 | 12,336 | -2,146 |
Decrease (increase) in interest receivable | ||||||||||
-426 | -100 | 371 | 808 | -538 | -398 | -554 | -2,200 | 774 | -1,020 | -1,838 |
(Decrease) increase in interest payable | ||||||||||
435 | 487 | 11 | 25 | -47 | 80 | 19 | -313 | -311 | -516 | -1,288 |
Increase in other assets | ||||||||||
4,013 | 6,386 | 310 | 1,677 | 4,168 | 7,239 | -7,047 | 2,780 | -4,614 | -2,420 | 24,533 |
Amount of increase (decrease) in operating lease liabilities classified as operating activities. | ||||||||||
-6,093 | 0 | 0 | - | - | - | - | - | - | - | - |
Decrease in accrued expenses and other liabilities | ||||||||||
-110 | -1,229 | 2,792 | 419 | 463 | 1,123 | 4,577 | 2,462 | 192 | -444 | 1,271 |
Total adjustments | ||||||||||
5,958 | 6,195 | 18,545 | 12,293 | 17,770 | 10,802 | 30,077 | 21,095 | 28,231 | 19,158 | 113,954 |
Net cash provided by operating activities | ||||||||||
63,798 | 67,640 | 61,690 | 54,894 | 60,008 | 54,995 | 69,889 | 58,629 | 61,318 | 48,479 | 142,074 |
Cash flows from investing activities: | ||||||||||
The cash inflow associated with the sale and calls (requests of early payments) of debt and equity securities classified as available-for-sale securities. | ||||||||||
192,003 | 78,230 | 124,624 | 245,929 | 254,955 | 321,074 | 417,204 | 1,204,250 | 1,171,945 | 1,198,435 | 747,444 |
Proceeds from calls and maturities of held to maturity securities | ||||||||||
3,710 | 5,050 | 17,939 | 10,975 | 14,481 | 15,269 | 57,211 | 83,165 | 87,320 | 183,159 | 7,740 |
Proceeds from maturities of securities available for sale | ||||||||||
10,052 | 45,604 | 5,000 | 1,949 | 4,025 | 11,206 | 13,060 | 2,462 | 20,243 | 19,312 | 651,151 |
Purchases of securities available for sale | ||||||||||
262,754 | 61,807 | 83,031 | 275,303 | 189,823 | 126,113 | 423,547 | 1,199,986 | 1,207,157 | 1,301,412 | 891,298 |
Purchases of held to maturity securities | ||||||||||
- | - | - | - | - | - | - | 10,303 | 111,896 | 0 | -761,224 |
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock | ||||||||||
230 | 174 | 143 | 99 | 252 | 451 | 868 | 628 | 2,143 | 551 | - |
The cash inflow associated with the redemption of the Federal Reserve Stock and Federal Home Loan Bank Stock during the period. | ||||||||||
0 | 0 | 943 | 0 | 0 | 1,723 | 0 | 0 | 53 | 0 | - |
Net decrease (increase) in loans | ||||||||||
193,283 | 241,149 | 212,028 | 146,629 | 148,532 | 266,630 | 243,937 | 190,843 | 188,776 | 106,118 | 141,613 |
Net proceeds from sale of building held for sale | ||||||||||
- | - | - | - | - | 4,745 | 0 | 0 | - | - | - |
Proceeds from dispositions of other real estate owned | ||||||||||
5,622 | 4,071 | 5,362 | 6,768 | 7,511 | 12,972 | 10,967 | 9,760 | 9,013 | 11,474 | 4,499 |
Proceeds from dispositions of bank premises and equipment | ||||||||||
15 | 1 | 63 | 674 | 112 | 139 | 16 | 3 | 7 | 0 | 175 |
Purchases of bank premises and equipment | ||||||||||
3,894 | 3,646 | 3,613 | 2,055 | 3,744 | 8,497 | 6,381 | 4,265 | 5,213 | 3,609 | 7,266 |
Net cash provided by (used in) investing activities | ||||||||||
-248,759 | -173,820 | -144,884 | -157,791 | -61,267 | -34,563 | -176,275 | -106,385 | -226,604 | 690 | -390,392 |
Cash flows from financing activities: | ||||||||||
Net increase in deposits | ||||||||||
175,769 | 100,921 | -22,837 | 95,785 | 68,137 | 105,170 | 122,878 | 68,220 | 181,886 | 248,927 | 168,889 |
Net decrease in short-term borrowings | ||||||||||
-13,227 | -81,098 | 33,585 | 18,180 | 2,110 | -15,046 | 44,316 | 12,283 | 22,948 | 16,887 | -1,864 |
Proceeds from exercise of stock options | ||||||||||
185 | 1,259 | 5,237 | 1,368 | 147 | 131 | 36 | 0 | 0 | - | - |
Stock based award tax withholding payments | ||||||||||
0 | 37 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from sale of treasury stock | ||||||||||
1,791 | 2,391 | 2,480 | 2,447 | 2,670 | 2,850 | 2,908 | 2,913 | 2,900 | 2,833 | 3,909 |
Purchases of treasury stock | ||||||||||
35 | 718 | 4,608 | 701 | 147 | 282 | 0 | 0 | - | - | - |
Net proceeds from common stock offering | ||||||||||
- | - | - | - | - | - | - | - | 67,578 | 0 | 0 |
Dividends paid | ||||||||||
26,385 | 25,569 | 25,197 | 25,064 | 24,950 | 24,851 | 24,724 | 24,587 | 21,333 | 19,460 | 26,326 |
Net cash provided by financing activities | ||||||||||
138,098 | -2,851 | -11,340 | 92,015 | 47,967 | 67,972 | 145,414 | 58,829 | 253,979 | 249,187 | 144,608 |
Net increase in cash and cash equivalents | ||||||||||
-46,863 | -109,031 | -94,534 | -10,882 | 46,708 | 88,404 | 39,028 | 11,073 | 88,693 | 298,356 | -103,710 |
Supplemental Disclosure of Cash Flow Information: | ||||||||||
Cash paid during the year for: [Abstract] | ||||||||||
Interest paid | ||||||||||
35,886 | 19,741 | 14,581 | 15,279 | 16,244 | 15,408 | 15,264 | 20,288 | 26,555 | 35,514 | 50,739 |
Income taxes paid | ||||||||||
16,806 | 16,359 | 26,127 | 23,494 | 21,005 | 26,727 | 23,821 | 21,052 | 18,824 | 27,628 | 14,667 |
Other non cash items: | ||||||||||
Transfer of loans to other real estate owned | ||||||||||
4,575 | 2,656 | 4,487 | 5,525 | 8,295 | 10,620 | 12,648 | 14,623 | 10,794 | 13,509 | - |
Transfer of other real estate owned to fixed assets | ||||||||||
- | - | - | - | 0 | 568 | 0 | 0 | - | - | 13,547 |
Transfer of building to other assets | ||||||||||
- | - | - | - | - | - | 3,189 | 0 | - | - | - |
Transfer of building to other assets | ||||||||||
- | - | - | - | - | - | - | - | 0 | - | - |
The net change during the reporting period in cash disbursements due to share holders, representing the shareholders' declared portion of profits. | ||||||||||
-215 | 261 | 29 | 29 | 24 | 29 | 34 | 34 | 1,069 | 271 | -3,578 |
Change in deferred tax effect on unrealized gain on securities available for sale | ||||||||||
-3,757 | 1,384 | -792 | 1,514 | 531 | -9,528 | 14,480 | -3,166 | -3,045 | 2,524 | 1,392 |
Change in unrealized (loss) gain on securities available for sale-gross of deferred taxes | ||||||||||
- | - | - | - | -1,330 | 23,913 | -36,313 | 7,939 | 7,634 | -6,331 | -3,490 |
Amortization of net actuarial gain and prior service credit on pension and postretirement plans | ||||||||||
-471 | -656 | -199 | 0 | 160 | -98 | 205 | 44 | -177 | -215 | 38 |
Change in deferred tax effect of amortization of net actuarial gain and prior service credit on pension and postretirement benefit plans | ||||||||||
122 | 170 | -100 | 0 | -63 | 38 | -82 | -18 | 72 | 85 | 15 |
Change in overfunded position in pension and postretirement plans arising during the year | ||||||||||
-5,967 | 3,684 | -3,824 | -1,333 | -711 | 8,367 | -10,559 | 1,244 | 4,753 | -1,827 | 3,792 |
The tax effect of the change in the overfunded position of pension and post retirement benefit plans as adopted under ASC 715. | ||||||||||
1,550 | -957 | 812 | 533 | 281 | -3,336 | 4,210 | -496 | -1,895 | 727 | -1,512 |