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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 21,144 $ 17,986
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,459 6,483
Changes in net deferred loan costs, net of amortization (509) (455)
Provision for loan losses 1,998 2,259
Net change in accrued interest receivable, prepaid expenses and other assets, accrued expenses and other liabilities 3,482 (3,071)
Stock-based compensation expense 1,040 872
Net excess tax benefit from exercise of stock options and vesting of restricted stock 0 (97)
Amortization of intangible assets 647 698
Gain on sale of investment securities, net (117) (761)
Origination of loans held for sale (54,449) (57,975)
Gain on sale of loans, net (5,333) (1,971)
Proceeds from sale of loans 71,436 60,498
Earnings on bank owned life insurance (747) (695)
Valuation adjustment on other real estate owned 0 383
Gain on sale of assets held for sale (53) 0
Gain on sale of other real estate owned, net 0 (42)
Loss on sale or write-off of furniture, equipment and leasehold improvements 12 244
Net cash provided by operating activities 44,010 24,356
Cash flows from investing activities:    
Loans originated, net of principal payments (114,390) (126,335)
Maturities of other interest earning deposits 0 1,248
Maturities, calls and payments of investment securities available for sale 52,461 60,803
Purchase of investment securities available for sale (57,972) (128,046)
Purchase of premises and equipment (1,382) (1,088)
Proceeds from sales of other real estate owned 0 770
Proceeds from sales of investment securities available for sale 15,032 75,837
Proceeds from sale of assets held for sale 265 0
Proceeds from redemption of Federal Home Loan Bank stock 16,456 10,460
Purchases of Federal Home Loan Bank stock (17,975) (12,012)
Investment in low-income housing tax credit partnership (7) (2,254)
Net cash used in investing activities (107,512) (120,617)
Cash flows from financing activities:    
Net increase in deposits 61,602 50,619
Federal Home Loan Bank advances 442,700 294,500
Repayments of Federal Home Loan Bank advances (411,400) (261,500)
Common stock cash dividends paid (7,497) (6,894)
Net decrease in securities sold under agreement to repurchase (849) (6,499)
Proceeds from exercise of stock options 109 369
Net excess tax benefit from exercise of stock options and vesting of restricted stock 0 97
Repurchase of common stock (674) (2,126)
Net cash provided by financing activities 83,991 68,566
Net increase (decrease) in cash and cash equivalents 20,489 (27,695)
Cash and cash equivalents at beginning of period 103,745 126,640
Cash and cash equivalents at end of period 124,234 98,945
Supplemental disclosures of cash flow information:    
Cash paid for interest 3,688 3,008
Cash paid for income taxes 1,007 6,000
Supplemental non-cash disclosures of cash flow information:    
Transfers of loans receivable to other real estate owned 32 652
Transfers of loans receivable to loans held for sale 5,779 0
Transfers of premises and equipment, net to prepaid expenses and other assets for properties held for sale 2,687 0
Investment in low income housing tax credit partnership and related funding commitment 0 10,224
Purchases of investment securities available for sale not settled $ 2,268 $ 1,164