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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES      
Net Income $ 98,234 $ 105,334 $ 72,968
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 14,873 14,995 13,883
Provision (recovery) for unfunded loan commitments 436 (54) (410)
Net depreciation, amortization and accretion 5,763 4,599 2,498
Net amortization of discounts and premiums on securities 3,243 3,180 4,003
Stock-based compensation expense 2,441 1,891 3,008
Loss (gain) on sale of securities 26 0 (3,000)
Gain on sale of bank branch 0 0 (1,042)
Deferred income taxes (381) 3,509 13,832
Loss (gain) on sale of fixed assets 37 (81) 128
Gain on the sale of mortgage loans, net (1,887) (1,537) (1,551)
Gain on the sale of majority interest of insurance business 0 (1,873) 0
Pension contribution 0 (20,420) 0
Mortgage loans originated for sale (109,624) (90,142) (93,382)
Proceeds from sale of loans 109,082 93,793 93,991
Net increase in interest receivable (3,768) (1,635) (2,714)
Net (decrease) increase in interest payable (2,223) 2,353 1,349
Net (increase) decrease in other assets (2,325) 9,948 5,634
Net increase in other liabilities 24,496 4,157 5,041
Net Cash Provided by Operating Activities 138,423 128,017 114,236
INVESTING ACTIVITIES      
Proceeds from maturities, prepayments and calls of securities 92,412 89,833 80,956
Proceeds from sales of securities 59,934 0 65,801
Purchases of securities (129,973) (92,597) (156,839)
Net sales (purchases) of Federal Home Loan Bank stock 6,615   2,547
Net sales (purchases) of Federal Home Loan Bank stock   (165)  
Net increase in loans (298,741) (207,233) (211,766)
Proceeds from the sale of loans not originated for resale 520 7,695 6,754
Purchases of premises and equipment (5,153) (4,172) (4,694)
Proceeds from the sale of premises and equipment 71 135 422
Net cash acquired from bank merger 63,759 0 0
Net Cash Used in Investing Activities (210,556) (201,964) (212,415)
FINANCING ACTIVITIES      
Net increase in core deposits 423,203 231,756 166,054
Net (decrease) increase in certificates of deposit (27,632) 14,397 27,132
Net decrease in short-term borrowings (200,000) (70,000) (120,000)
Net increase (decrease) in securities sold under repurchase agreements 1,505 (31,778) (671)
Proceeds from long-term borrowings 10,000 25,000 35,000
Repayments of long-term borrowings (35,936) (1,987) (2,412)
Treasury shares issued-net (915) (657) (689)
Repurchase common stock (18,222) (12,256) 0
Common stock issuance costs (176) 0 0
Cash dividends paid to common shareholders (37,360) (34,539) (28,569)
Repurchase warrant 0 (7,652) 0
Net Cash Provided by Financing Activities 114,467 112,284 75,845
Net increase (decrease) in cash and cash equivalents 42,334 38,337 (22,334)
Cash and cash equivalents at beginning of year 155,489 117,152 139,486
Cash and Cash Equivalents at End of Year 197,823 155,489 117,152
Supplemental Disclosures      
Transfers to other real estate owned and other repossessed assets 2,592 870 2,238
Interest paid 75,278 53,035 33,591
Income taxes paid, net of refunds 14,663 15,728 33,814
Loans transferred to held for sale 456 0 0
Loans transferred to portfolio from held for sale 0 7,695 250
Transfer retained assets from sale to investment in insurance company partnership 0 1,917 0
Net assets from acquisitions, excluding cash and cash equivalents 43,637 0 0
Decrease in cash and cash equivalents from sale of bank branch 0 0 154
Branch      
INVESTING ACTIVITIES      
Proceeds from the divestiture of businesses 0 0 4,404
Majority Interest of Insurance Business      
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on the sale of majority interest of insurance business 0 (1,873) 0
INVESTING ACTIVITIES      
Proceeds from the divestiture of businesses $ 0 $ 4,540 $ 0