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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 2,266 $ 43,314
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,486 4,449
Amortization of intangible assets 713 799
Provision for credit losses 77,366 11,408
Deferred income tax (benefit) expense (11,654) 13,900
Stock-based compensation 1,142 1,018
Gain on sales of investment securities (8,247) 0
Unrealized loss on derivative instruments (17) (589)
Net gain on sales of premises and equipment and other assets 15 (17)
Net gain on sales of loans (2,538) (1,536)
Net amortization/accretion of premiums, discounts and deferred loan fees and costs (1,369) (2,023)
Originations and purchases of loans held for sale (62,989) (74,225)
Sales and repayments of loans held for sale 92,586 78,654
Amortization of broker placement fees 158 189
Net amortization/accretion of premium and discounts on investment securities 1,307 39
(Increase) decrease in accrued interest receivable (197) (669)
Increase in accrued interest payable 523 736
Decrease in other assets 6,400 14,176
(Decrease) increase in other liabilities (8,419) (6,641)
Net cash provided by operating activities 91,532 82,982
Cash flows from investing activities:    
Net (disbursements) repayments on loans held for investment (68,997) (175,142)
Proceeds from sale of loans held for investment 3,610 4,998
Proceeds from sale of repossessed assets 8,966 11,250
Purchases of available-for-sale securities (147,801) 0
Proceeds from principal repayments and maturities of available-for-sale securities 104,188 57,809
Proceeds from principal repayments of held-to-maturity securities 141 142
Additions to premises and equipment (4,375) (4,046)
Net redemptions/purchases of other investment securities (1,352) 100
Proceeds from sale of premises and equipment and other assets 0 18
Net cash (used in) provided by investing activities (105,620) (104,871)
Cash flows from financing activities:    
Net increase in deposits 214,408 84,436
Net increase (decrease) in short-term borrowings 55,000 (50,086)
Proceeds from long-term reverse repuchase agreements 200,000 0
Repurchase of outstanding common stock (198) (1,882)
Dividends paid on common stock (10,837) (6,538)
Dividends paid on preferred stock (669) (669)
Net cash provided by financing activities 457,704 25,261
Net increase in cash and cash equivalents 443,616 3,372
Cash and cash equivalents at beginning of period 644,099 586,203
Cash and cash equivalents at end of period 1,087,715 589,575
Cash and cash equivalents include:    
Cash and Cash Equivalents, at Carrying Value, Total $ 1,087,715 $ 589,575