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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities:    
Net income $ 30,713 $ 23,888
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 213 131
Provision for loan losses 2,404 480
Gain on sale of loans (18,723) (20,609)
Proceeds from sales of loans 11,497,484 9,343,295
Loans and participations originated and purchased for sale (11,440,254) (9,546,607)
Change in mortgage servicing rights for paydowns and fair value adjustments 1,696 2,082
Net change in:    
Trading securities 5,762 (7,381)
Other assets and receivables (4,272) 10,890
Other liabilities 1,860 10,208
Other 680 50
Net cash provided by (used in) operating activities 77,563 (183,573)
Investing activities:    
Net change in securities purchased under agreements to resell 89 57
Purchases of available-for-sale securities (36,049) (94,988)
Proceeds from calls, maturities and paydowns of available-for-sale securities 60,963 42,679
Purchases of loans (77,884) (69,970)
Net change in loans receivable (355,094) (58,965)
Purchase of Federal Home Loan Bank stock (130)  
Purchases of premises and equipment (3,045) (218)
Purchases of mortgage servicing rights (790) (1,134)
Purchase of limited partnership interests (1,706) (1,829)
Cash received in acquisition of subsidiary 6,505  
Other investing activities (72) 63
Net cash used in investing activities (407,213) (184,305)
Financing activities:    
Net change in deposits 195,884 342,880
Proceeds from Federal Home Loan Bank advances 411,317 239,250
Repayment of Federal Home Loan Bank advances (283,759) (239,623)
Payments on notes payable 4,200  
Dividends (5,108) (3,776)
Net cash provided by financing activities 322,534 338,731
Net Change in Cash and Cash Equivalents (7,116) (29,147)
Cash and Cash Equivalents, Beginning of Period 359,519 445,701
Cash and Cash Equivalents, End of Period 352,403 416,554
Additional Cash Flows Information:    
Interest paid 18,097 11,910
Income taxes paid 6,075 $ 13,499
The Company purchased all of the capital stock of Joy State Bank for $5,472 on January 2, 2018. In conjunction with the acquisition, liabilities were assumed as follows:    
Fair value of assets acquired 44,217  
Cash paid for capital stock 5,472  
Liabilities assumed $ 38,745