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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net income $ 13,231 $ 22,928
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 20,050 5,684
Provision for credit losses   5,649
Provision for unfunded loan commitments 0 35
Net depreciation, amortization and accretion 1,171 1,420
Net amortization of discounts and premiums on securities 1,154 776
Stock-based compensation expense 443 604
Gain on the sale of mortgage loans, net (536) (293)
Mortgage loans originated for sale (37,332) (14,506)
Proceeds from the sale of mortgage loans 35,358 14,464
Net change in:    
Interest receivable 26 (1,963)
Interest payable (242) (789)
Other assets (149,186) (3,466)
Other liabilities 55,902 5,600
Net Cash (Used in) Provided by Operating Activities (59,961) 30,459
INVESTING ACTIVITIES    
Purchases of securities (30,292) (9,437)
Proceeds from maturities, prepayments and calls of securities 33,869 20,193
Net (purchases of) proceeds from sales of Federal Home Loan Bank stock (5,277)  
Net (purchases of) proceeds from sales of Federal Home Loan Bank stock   9,477
Net (increase) decrease in loans (122,507)  
Net (increase) decrease in loans   4,760
Proceeds from sale of loans not originated for resale 0 465
Purchases of premises and equipment (1,429) (1,757)
Net Cash (Used in) Provided by Investing Activities (125,636) 23,701
FINANCING ACTIVITIES    
Net increase in core deposits 28,684 170,744
Net decrease in certificates of deposit (7,042) (11,241)
Net increase in securities sold under repurchase agreements 49,756 5,044
Net increase (decrease) in short-term borrowings 128,921  
Net increase (decrease) in short-term borrowings   (235,000)
Proceeds from long-term borrowings 0 104
Repayments on long-term borrowings (688) 0
Other assets (563) (876)
Cash dividends paid to common shareholders (11,051) (9,317)
Repurchase of common stock (12,559) (12,287)
Net Cash Provided by (Used in) Financing Activities 175,458 (92,829)
Net decrease in cash and cash equivalents (10,139) (38,669)
Cash and cash equivalents at beginning of period 197,823 155,489
Cash and Cash Equivalents at End of Period 187,684 116,820
Supplemental Disclosures    
Leased right-of-use operating assets and lease liabilities added to the balance sheet 91 35,686
Interest paid 17,795 19,023
Income taxes paid, net of refunds 210 1,432
Transfers of loans to other real estate owned $ 110 $ 80