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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 14,931 $ 30,890
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 2,494 2,454
Provision for credit losses 14,717 200
Provision for credit loss for off-balance sheet credit exposure 1,000 0
Deferred tax (benefit) expense (1,492) 3,184
Amortization of operating lease right-of-use assets 2,130 2,050
Income on Bank-owned life insurance (787) (1,696)
Net amortization of premiums and discounts on securities 1,913 1,756
Accretion of net deferred loan fees (1,521) (1,220)
Amortization of premiums on purchased loans, net 192 160
Net increase in loans originated for sale (4,022) (3,942)
Proceeds from sales of loans originated for sale 4,335 4,215
Proceeds from sales and paydowns of foreclosed assets 256 585
ESOP expense 921 1,075
Allocation of stock award shares 993 1,388
Allocation of stock options 47 42
Net gain on sale of loans (313) (273)
Net gain on securities transactions (11) 0
Net gain on sale of premises and equipment (641) 0
Net gain on sale of foreclosed assets (29) (57)
Decrease in accrued interest receivable 1,232 295
(Increase) decrease in other assets (82,099) 4,042
Decrease (increase) in other liabilities 79,111 (13,780)
Net cash provided by operating activities 33,357 31,368
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns of held to maturity debt securities 17,225 11,432
Purchases of held to maturity debt securities (9,674) (5,780)
Proceeds from maturities and paydowns of available for sale debt securities 64,466 40,258
Purchases of available for sale debt securities (56,172) (50,384)
Proceeds from redemption of Federal Home Loan Bank stock 28,549 31,536
Purchases of Federal Home Loan Bank stock (32,449) (31,357)
BOLI claim benefits received 1,985 0
Net (increase) decrease in loans (39,897) 27,579
Proceeds from sales of premises and equipment 641 0
Purchases of premises and equipment (1,664) (593)
Net cash (used in) provided by investing activities (26,990) 22,691
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]    
Net increase in deposits 108,151 73,334
Increase in mortgage escrow deposits 1,666 1,795
Cash dividends paid to stockholders (15,496) (28,964)
Shares issued dividend reinvestment plan 451 840
Purchase of treasury stock (4,985) (180)
Purchase of employee restricted shares to fund statutory tax withholding (956) (1,914)
Stock options exercised 0 15
Proceeds from long-term borrowings 632,554 85,000
Payments on long-term borrowings (300,159) (213,360)
Net (decrease) increase in short-term borrowings (243,764) 84,568
Net cash provided by financing activities 177,462 1,134
Net increase in cash and cash equivalents 183,829 55,193
Cash and cash equivalents at beginning of period 186,748 142,661
Cash and cash equivalents at end of period 370,577 197,854
Cash paid during the period for:    
Interest on deposits and borrowings 15,819 17,377
Income taxes 115 100
Non-cash investing activities:    
Initial recognition of operating lease right-of-use assets 0 44,946
Initial recognition of operating lease liabilities 0 46,050
Transfer of loans receivable to foreclosed assets $ 2,067 $ 227