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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net income $ 50,244 $ 64,080 $ 53,533
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 10,964 12,986 7,790
Depreciation of premises and equipment 8,557 7,477 6,333
Amortization of fees and discounts, net 19,082 19,626 18,490
Amortization of intangible assets 3,078 2,438 1,847
Increase in accrued interest receivable (2,378) (2,009) (1,334)
(Increase) decrease in other assets (2,517) 443 (1,643)
Origination of loans held for sale (354,659) (366,859) (573,703)
Proceeds from sales of loans held for sale 369,986 346,895 563,588
Gain on mortgage banking activity, net (6,293) (7,434) (5,896)
Gain on sale of securities, net (1,984) (2,369) (1,478)
Debt extinguishment costs (695) 0 0
Stock-based compensation expense 3,396 3,046 4,095
(Decrease) increase in accrued interest payable (114) 350 (203)
Increase in other liabilities 7,353 3,709 6,502
Loss on sale of OREO and valuation adjustments, net 217 313 319
Provision for legal settlement 12,000 0 0
Increase in value of bank-owned life insurance (1,130) (2,551) (776)
Deferred income tax expense 17,899 5,370 2,231
Increase in capitalized interest, net (4,228) (5,331) (5,518)
Net cash provided by operating activities 130,168 80,180 74,177
Investing activities:      
Maturities and calls of investment securities 1,230 2,890 5,551
Sales of investment securities available for sale 457,046 201,580 192,933
BOLI - cash return of capital 371 0 0
Purchases of investment securities available for sale (696,581) (371,590) (277,963)
Repayments of investment securities available for sale 197,765 85,200 100,485
Purchases of investment securities held to maturity 0 (3,329) (48,184)
Net cash for business combinations 0 39,794 40,863
Net increase in loans (343,858) (217,572) (275,162)
Purchases of VISA Class B stock (10,072) (387) (3,589)
Purchases of stock of Federal Home Loan Bank of Pittsburgh (160,089) (88,176) (66,955)
Redemptions of stock of Federal Home Loan Bank of Pittsburgh 167,053 80,447 59,714
Sales of OREO, net 6,077 4,423 4,828
Investment in premises and equipment, net (7,728) (9,873) (8,362)
Net cash used for investing activities (388,786) (276,593) (275,841)
Financing Activities:      
Net increase in demand and savings deposits 353,521 272,544 159,587
Decrease in time deposits 35,887 (51,416) (103,710)
(Decrease) increase in brokered deposits 90,482 (17,928) (30,228)
(Decrease) increase in loan payable (338) (370) 61
Repayment of securities sold under agreement to repurchase 0 0 (25,000)
Receipts from federal funds purchased and securities sold under agreement to repurchase 23,008,000 27,702,620 31,887,100
Repayments of federal funds purchased and securities sold under agreement to repurchase (23,110,000) (27,700,820) (31,862,125)
Receipts from FHLB advances 143,852,751 121,977,563 63,310,841
Repayments of FHLB advances (143,996,986) (121,792,841) (63,047,221)
Repayment of long-term debt 0 (10,000) 0
Dividends paid (9,425) (7,632) (6,002)
Issuance of common stock and exercise of common stock options 3,421 1,900 3,160
Repayment of senior debt (55,000) 0 0
Issuance of senior debt 0 97,849 0
Buy back of common stock (11,752) (14,312) (31,659)
Net cash provided by (used for) financing activities 160,561 457,157 254,804
Increase in cash and cash equivalents (98,057) 260,744 53,140
Cash and cash equivalents at beginning of year 821,923 561,179 508,039
Cash and cash equivalents at end of year 723,866 821,923 561,179
Supplemental Disclosure of Cash Flow Information:      
Cash paid in interest during the year 33,569 22,483 15,978
Cash paid for income taxes, net 31,441 24,825 23,404
Loans transferred to OREO 5,206 2,251 3,725
Loans transferred to portfolio from held-for-sale at fair value 13,142 12,919 (1,499)
Fair value of assets acquired, net of cash received 0 534,375 340,238
Fair value of liabilities assumed 0 589,632 346,181
Reissuance of treasury stock for acquisitions, net 0 0 71,345
Non-cash goodwill adjustments, net $ (1,532) $ 2,112 $ 136