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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 31,743 $ 10,542
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums and accretion of discounts on investment securities, net 1,442 1,966
Depreciation and amortization 2,420 1,717
Provision for loan losses 7,550 2,209
Stock-based compensation 876 51
Gains on sales of investment securities, net (2,793) (2,100)
Net loss on sale of other real estate owned 112 23
Loans originated for resale (18,004) (7,316)
Proceeds from sale of loans held for sale 17,290 6,730
Gains on sale of loans held for sale (276) (144)
Decrease in accrued interest receivable 38 296
Increase in cash surrender value of bank-owned life insurance (1,163) (912)
(Increase) decrease in other assets (3,324) 1,128
Increase (decrease) in other liabilities 294 (3,791)
Net cash provided by operating activities 36,205 10,399
Investment securities available-for-sale:    
Purchases (34,796) (31,550)
Sales 44,397 66,738
Maturities, calls and principal repayments 53,542 20,951
Investment securities held-to-maturity:    
Purchases (17,531) (8,310)
Maturities and principal repayments 14,702 6,235
Net (purchases) redemptions of restricted investment in bank stocks (6,827) 4,710
Net increase in loans (417,291) (167,314)
Purchases of premises and equipment (2,590) (2,199)
Cash acquired in acquisition of Legacy ConnectOne   70,318
Proceeds from sale of other real estate owned 126 1,562
Net cash (used in) provided by investing activities (366,268) (38,859)
Cash flows from financing activities:    
Net increase in deposits 191,017 75,821
Increase in subordinated debt 50,000  
Advances of FHLB borrowings 625,000 11,590
Repayments of FHLB borrowings (482,879)  
Net decrease in repurchase agreements (16,000)  
Cash dividends on preferred stock (84) (84)
Cash dividends paid on common stock (6,741) (4,681)
Issuance cost of common stock   (7)
Tax benefit of options exercised   357
Proceeds from exercise of stock options 1,424 785
Net cash provided (used in) by financing activities 361,737 83,781
Net change in cash and cash equivalents 31,674 55,321
Cash and cash equivalents at beginning of period 126,847 82,692
Cash and cash equivalents at end of period 158,521 138,013
Cash payments for:    
Interest paid on deposits and borrowings 15,940 10,222
Income taxes 17,045 4,653
Supplemental disclosures of non-cash investing activities:    
Transfer of loans to other real estate owned 2,374  
Dividends declared, not paid $ (5) $ 1,063