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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 7,939 $ 25,044
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 27,637 6,467
Net (gain)/loss on sale of assets (1,918) 810
Net depreciation, amortization and accretion 1,413 1,285
Increase in other assets (38,950) (41,336)
Increase in other liabilities 49,956 36,106
Net amortization on marketable securities 233 236
Noncash compensation expense related to stock benefit plans 1,495 1,200
Noncash write-down of real estate owned 100 160
Origination of loans held-for-sale (29,912) 0
Proceeds from sale of loans held-for-sale 32,309 0
Net cash provided by operating activities 50,302 29,972
Investing activities:    
Purchase of marketable securities available-for-sale (20,610) (20,219)
Proceeds from maturities and principal reductions of marketable securities held-to-maturity 825 1,090
Proceeds from maturities and principal reductions of marketable securities available-for-sale 86,354 31,282
Proceeds from sale of marketable securities available-for-sale 0 32,319
Proceeds from bank-owned life insurance 0 2,207
Loan originations (866,950) (763,848)
Proceeds from loan maturities and principal reductions 787,243 649,597
Proceeds from sale of loans held for investment 50,791 0
Net proceeds of Federal Home Loan Bank stock 1,609 3,555
Proceeds from sale of real estate owned 168 1,078
Proceeds from sale of real estate owned for investment, net 152 152
Purchase of premises and equipment (3,553) (3,478)
Acquisitions, net of cash received 0 (25,833)
Net cash provided/(used) in investing activities 36,029 (92,098)
Financing activities:    
Net increase in deposits 200,728 218,966
Net decrease in short-term borrowings (54,737) (120,308)
Increase in advances by borrowers for taxes and insurance 2,598 1,587
Cash dividends paid on common stock (20,317) (18,643)
Proceeds from stock options exercised 1,005 4,658
Net cash provided by financing activities 129,277 86,260
Net increase in cash and cash equivalents 215,608 24,134
Cash and cash equivalents at beginning of period 60,846 68,789
Cash and cash equivalents at end of period 276,454 92,923
Cash paid during the period for:    
Interest on deposits and borrowings (including interest credited to deposit accounts of $9,907 and $9,364, respectively) 13,458 11,940
Income taxes 556 1,747
Business acquisitions:    
Fair value of assets acquired 0 580,407
Northwest Bancshares, Inc. common stock issued 0 (43,288)
Net cash paid 0 (42,500)
Liabilities assumed 0 494,619
Non-cash activities:    
Loan foreclosures and repossessions $ 1,351 $ 1,492