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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net Income $ 28,578 $ 51,869
Provision for credit losses 37,826 6,930
Deferred tax (benefit) expense (3,387) 1,112
Depreciation and amortization 5,549 5,087
Net gains on securities and other assets (5,896) (5,288)
Net amortization of premiums and discounts on securities 2,993 1,704
Income from increase in cash surrender value of bank owned life insurance (3,149) (2,868)
Increase in interest receivable (10,218) (1,963)
Mortgage loans originated for sale (155,916) (98,292)
Proceeds from sale of mortgage loans 150,821 95,549
(Decrease) increase in interest payable (484) 270
Increase in income taxes payable 9,349 1,319
Increase (Decrease) in Other Operating Assets and Liabilities, Net 4,875 25,316
Net cash provided by operating activities 51,191 30,113
Investing Activities    
Proceeds from sale and maturity of held-to-maturity securities 42,175 19,977
Payments to Acquire Held-to-maturity Securities (200) (200)
Proceeds from Sale of Available-for-sale Securities 0 0
Proceeds from maturities and redemptions of available-for-sale securities 125,162 77,571
Purchases of available-for-sale securities (127,368) (16,401)
Purchases of FHLB stock (20,927) (23,256)
Proceeds from the redemption of FHLB stock 25,416 25,814
Proceeds from Life Insurance Policy 201 0
Proceeds from Sale of Loans Receivable 10,335 22,312
Proceeds from sale of other assets 3,173 3,539
Net increase in loans (752,191) (250,773)
Payments for Purchase of Other Assets (5,363) (8,843)
Net cash used in investing activities (699,587) (150,260)
Financing Activities    
Net decrease in federal funds purchased 0 (11,000)
Net decrease in other short-term borrowings (93,369) (155,743)
Net increase in deposits 1,104,794 258,198
Repayments of other long-term debt (327) (315)
Repayments of Long-term Capital Lease Obligations 213 199
Proceeds from Issuance of Long-term Debt 0 50,000
Dividends paid (21,614) (19,712)
Proceeds from reissuance of treasury stock 222 211
Purchase of treasury stock (5,220) (3,960)
Net cash provided by financing activities 984,273 117,480
Net increase (decrease) in cash and cash equivalents 335,877 (2,667)
Cash and cash equivalents at January 1 121,856 98,947
Cash and cash equivalents at June 30 $ 457,733 $ 96,280