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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 30,890 $ 27,913
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 2,454 2,598
Provision for loan losses 200 5,400
Deferred tax expense 3,184 2,015
Amortization of operating lease right-of-use assets 1,542 0
Net decrease in operating lease liabilities (1,598) 0
Income on Bank-owned life insurance (1,696) (1,264)
Net amortization of premiums and discounts on securities 1,756 2,279
Accretion of net deferred loan fees (1,220) (1,286)
Amortization of premiums on purchased loans, net 160 200
Net increase in loans originated for sale (3,942) (4,117)
Proceeds from sales of loans originated for sale 4,215 4,528
Proceeds from sales and paydowns of foreclosed assets 585 466
ESOP expense 1,075 1,085
Allocation of stock award shares 1,388 1,025
Allocation of stock options 42 45
Net gain on sale of loans (273) (411)
Net gain on securities transactions 0 (1)
Net gain on sale of foreclosed assets (57) (181)
Decrease (increase) in accrued interest receivable 295 (924)
Decrease in other assets 6,148 1,146
Decrease in other liabilities (13,780) (8,309)
Net cash provided by operating activities 31,368 32,207
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns of held to maturity debt securities 11,432 21,934
Purchases of held to maturity debt securities (5,780) (11,881)
Proceeds from maturities, calls and paydowns of available for sale debt securities 40,258 55,279
Purchases of available for sale debt securities (50,384) (72,154)
Proceeds from redemption of Federal Home Loan Bank stock 31,536 39,929
Purchases of Federal Home Loan Bank stock (31,357) (33,342)
Net decrease in loans 27,579 34,994
Purchases of premises and equipment (593) (502)
Net cash provided by investing activities 22,691 34,257
Cash flows from financing activities:    
Net increase in deposits 73,334 42,417
Increase in mortgage escrow deposits 1,795 1,061
Cash dividends paid to stockholders (28,964) (13,638)
Shares issued dividend reinvestment plan 840 419
Purchase of treasury stock (180) 0
Purchase of employee restricted shares to fund statutory tax withholding (1,914) (1,792)
Stock options exercised 15 175
Proceeds from long-term borrowings 85,000 265,000
Payments on long-term borrowings (213,360) (135,810)
Net increase (decrease) in short-term borrowings 84,568 (281,616)
Net cash provided by (used in) financing activities 1,134 (123,784)
Net increase (decrease) in cash and cash equivalents 55,193 (57,320)
Cash and cash equivalents at beginning of period 142,661 190,834
Cash and cash equivalents at end of period 197,854 133,514
Cash paid during the period for:    
Interest on deposits and borrowings 17,377 12,972
Income taxes 100 3,619
Non cash investing activities:    
Initial recognition of operating lease right-of-use assets 44,946 0
Initial recognition of operating lease liabilities 46,050 0
Transfer of loans receivable to foreclosed assets $ 227 $ 673