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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 31,211 $ 36,404
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,029 2,001
Provision for loan losses 10,550 250
Amortization of deferred loan costs, net 11,785 10,386
Amortization of premiums on investment securities, net 2,447 1,039
Gain on sale of loans 0 (607)
Stock based compensation expense, net of forfeitures 2,711 2,211
Change in fair value of mortgage servicing rights 807 652
Change in fair value of equity securities (288) (399)
Loss on disposition of leasehold improvements 0 1,120
Other items, net 331 (383)
Effect of changes in:    
Accrued interest receivable 920 (1,338)
Accrued interest payable (1,647) (969)
Prepaid expenses and other assets (4,134) (2,040)
Other liabilities and accrued expenses (3,780) 5,770
Net cash provided by operating activities 52,942 54,097
Cash flows from investing activities:    
Proceeds from maturities, paydowns and calls of available for sale debt securities 188,270 55,523
Proceeds from maturities and paydowns of held to maturity debt securities 2,096 1,216
Proceeds from sales of available for sale debt securities 0 1,000
Purchases of available for sale debt securities (181,837) (71,694)
Net decrease (increase) in loans receivable (101,994) 190,602
Proceeds from loans held for sale previously classified as portfolio loans 0 62,235
Purchase of loans (20,507) (10,052)
Redemption of FHLB stock, net 730 1,480
Purchase of premises and equipment (1,275) (663)
Net cash provided by (used in) investing activities 89,471 (151,557)
Cash flows from financing activities:    
Net increase in deposits 41,963 360,962
Proceeds from long-term FHLB advances 136,500 375,100
Repayment of long-term FHLB advances (151,955) (375,022)
Net change in short-term FHLB advances (1,500) (166,000)
Shares withheld for taxes on vested restricted stock (666) (2,409)
Shares repurchased (34,714) (8,791)
Cash paid for dividends (9,300) (9,795)
Net cash (used in) provided by financing activities (19,672) 174,045
Increase in cash, cash equivalents and restricted cash 122,741 76,585
Cash, cash equivalents and restricted cash, beginning of period 91,325 91,697
Cash, cash equivalents and restricted cash, end of period 214,066 168,282
Supplemental disclosure of cash flow information: Cash paid during the period for:    
Interest 84,174 105,433
Income taxes 15,069 14,125
Non-cash investing activity:    
Loans transferred to held for sale $ 0 $ 61,751