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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income from continuing operations $ 13,161 $ 17,411
Net income (loss) from discontinued operations (570) 519
Adjustments to reconcile net income to net cash (used in) provided by operating activities    
Depreciation and amortization 991 1,357
Provision for credit losses 3,579 1,700
Net amortization of investment securities discounts/premiums 4,459 4,149
Stock-based compensation expense 1,216 1,424
Loans originated for sale (541,616) (403,241)
Sale of commercial loans originated for resale 2,535 491,005
Loss (gain) on sales of commercial loans originated for resale 144 (11,198)
Loss (gain) from discontinued operations 536 (67)
Fair value adjustment on investment in unconsolidated entity 45  
Change in fair value of loans held-for-sale 2,855 (329)
Change in fair value of derivatives 2,158 764
Increase in accrued interest receivable (2,041) (1,154)
Decrease (increase) in other assets 3,180 (13,483)
Increase in other liabilities 1,975 10,125
Net cash (used in) provided by operating activities (507,393) 98,982
Investing activities    
Purchase of investment securities available-for-sale (12,000) (69,901)
Proceeds from redemptions and prepayments of securities available-for-sale 61,487 48,556
Net cash paid due to acquisitions, net of cash acquired (3,920)  
Net increase in loans (153,273) (5,944)
Net decrease in discontinued loans held-for-sale 4,871 6,478
Purchases of premises and equipment (380) (208)
Change in receivable from investment in unconsolidated entity 83  
Return of investment in unconsolidated entity 4,836 1,015
Decrease in discontinued assets held-for-sale 1,132 3,328
Net cash used in investing activities (97,164) (16,676)
Financing activities    
Net (decrease) increase in deposits (360,907) 89,584
Net decrease in securities sold under agreements to repurchase (40)  
Proceeds of short-term borrowings 140,000  
Proceeds from the issuance of common stock 620  
Net cash (used in) provided by financing activities (220,327) 89,584
Net (decrease) increase in cash and cash equivalents (824,884) 171,890
Cash and cash equivalents, beginning of period 944,472 554,302
Cash and cash equivalents, end of period 119,588 726,192
Supplemental disclosure:    
Interest paid 7,490 9,498
Taxes paid 1,093 1,425
Non-cash investing and financing activities    
Investment securities purchased and not settled   61,527
Investment securities transferred in securitization transaction   41,633
Loans transferred in acquisition $ 3,961  
Transfers of discontinued loans to other real estate owned   $ 5,295