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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net Income $ 39,507 $ 33,248
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 4,005 2,034
Depreciation of premises and equipment, net 4,286 3,699
Amortization of fees and discounts, net 10,266 8,239
Amortization of intangible assets 1,639 1,015
Decrease (increase) in accrued interest receivable 285 (124)
Increase in other assets (8,156) (2,440)
Origination of loans held for sale (181,851) (152,484)
Proceeds from sales of loans held for sale 192,130 160,686
Gain on mortgage banking activities, net (3,029) (3,470)
Gain on sale of securities, net (1,028) (850)
Stock-based compensation expense 1,564 1,480
Increase in accrued interest payable 1,254 1,272
Decrease in other liabilities (1,004) (473)
Loss on sale of other real estate owned and valuation adjustments, net 131 162
Deferred income tax expense 2,808 3,821
Increase in value of bank owned life insurance (582) (1,283)
Increase in capitalized interest, net (2,334) (2,688)
Net cash provided by operating activities 59,891 51,844
Investing activities:    
Purchases of investment securities held to maturity 0 (3,329)
Repayments, maturities and calls of investment securities held to maturity 780 1,810
Sale of investment securities available for sale 351,614 101,348
Purchases of investment securities available for sale (481,978) (159,684)
Repayments of investment securities available for sale 144,208 35,570
Net increase in loans (135,856) (74,579)
Redemptions of stock of Federal Home Loan Bank of Pittsburgh (100,438) (38,599)
Redemptions of stock of Federal Home Loan Bank of Pittsburgh 102,854 31,179
Sales of other real estate owned 4,105 2,657
Investment in premises and equipment (4,490) (3,870)
Sales of premises and equipment 1,585 0
Net cash used for investing activities (117,616) (107,497)
Financing activities:    
Net increase in demand and saving deposits 101,267 17,446
Decrease in time deposits (58,069) (46,594)
Increase in brokered deposits 43,419 2,396
Decrease in loan payable (376) (386)
Receipts from FHLB advances 72,320,785 57,591,203
Repayments of FHLB advances (72,351,370) (57,373,950)
Receipts from federal funds purchased and securities sold under agreement to repurchase 12,312,000 16,434,870
Repayments of federal funds purchased and securities sold under agreement to repurchase (12,377,000) (16,512,070)
Dividends paid (4,399) (3,556)
Issuance of common stock and exercise of common stock options 885 1,723
Issuance of senior debt 0 98,319
Purchase of treasury stock (6,029) (11,034)
Net cash (used) provided by financing activities (18,887) 198,367
(Decrease) increase in cash and cash equivalents (76,612) 142,714
Cash and cash equivalents at beginning of period 821,923 561,179
Cash and cash equivalents at end of period 745,311 703,893
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest during the period 14,490 8,507
Cash paid for income taxes, net 10,352 12,493
Loans transferred to other real estate owned 2,766 674
Loans transferred to portfolio from held-for-sale at fair value 11,015 3,670
Net change in accumulated other comprehensive income 3,759 14,981
Non-cash goodwill adjustments, net $ (1,532) $ (360)