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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities:    
Net Income $ 18,937 $ 15,770
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 2,162 780
Depreciation of premises and equipment, net 2,190 1,903
Amortization of fees and discounts, net 4,742 3,895
Amortization of intangible assets 857 549
Decrease in accrued interest receivable 315 48
Increase in other assets (1,838) (3,534)
Origination of loans held for sale (85,833) (72,474)
Proceeds from sales of loans held for sale 105,436 77,834
Gain on mortgage banking activities, net (1,185) (1,654)
Gain on sale of securities, net (320) (305)
Stock-based compensation expense 821 758
Increase in accrued interest payable 1,780 539
Decrease in other liabilities (1,537) (7,930)
Loss on sale of other real estate owned and valuation adjustments, net 39 76
Deferred income tax expense 3,190 3,293
Increase in value of bank owned life insurance (275) (231)
Increase in capitalized interest, net (1,316) (1,193)
Net cash provided by operating activities 48,165 18,124
Investing activities:    
Purchases of investment securities held to maturity 0 (3,329)
Repayments of investment securities held to maturity 250 1,335
Maturities and calls of investment securities held to maturity 0 400
Sale of investment securities available for sale 263,015 38,932
Purchases of investment securities available for sale (375,687) (91,963)
Repayments of investment securities available for sale 119,313 15,463
Net increase in loans (106,933) (30,010)
Redemptions of stock of Federal Home Loan Bank of Pittsburgh (54,990) (20,037)
Redemptions of stock of Federal Home Loan Bank of Pittsburgh 73,236 19,845
Sales of other real estate owned 1,707 1,442
Investment in premises and equipment (2,480) (1,234)
Net cash used for investing activities (82,569) (69,156)
Financing activities:    
Net increase in demand and saving deposits 508,429 35,907
Decrease in time deposits (22,998) (26,072)
Increase in brokered deposits 137,797 43,353
Decrease in loan payable (420) (407)
Receipts from FHLB advances 42,415,835 28,349,212
Repayments of FHLB advances (42,971,976) (28,310,900)
Receipts from federal funds purchased and securities sold under agreement to repurchase 6,688,000 8,710,770
Repayments of federal funds purchased and securities sold under agreement to repurchase (6,683,000) (8,711,445)
Dividends paid (2,199) (1,783)
Issuance of common stock and exercise of common stock options 1,094 241
Purchase of treasury stock (2,818) (8,995)
Net cash provided by financing activities 67,744 79,881
Increase in cash and cash equivalents 33,340 28,849
Cash and cash equivalents at beginning of period 821,923 561,179
Cash and cash equivalents at end of period 855,263 590,028
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest during the period 5,943 4,151
Cash (received) paid for income taxes, net (1,199) 9,554
Loans transferred to other real estate owned 1,737 417
Loans transferred to portfolio from held-for-sale at fair value 6,470 1,510
Net change in accumulated other comprehensive income 830 10,758
Non-cash goodwill adjustments, net $ (1,579) $ (358)