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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities:    
Net Income $ 66,090 $ 39,507
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 6,148 4,005
Depreciation of premises and equipment, net 4,189 4,286
Amortization of fees and discounts, net 7,914 10,266
Amortization of intangible assets 1,482 1,639
Income from mortgage banking activities, net (3,429) (3,029)
Gain on sale of securities, net (21) (1,028)
Loss on sale of other real estate owned and valuation adjustments, net 70 131
Stock-based compensation expense 1,420 1,564
Unrealized gain on equity securities (15,346) 0
Deferred income tax expense 2,132 2,808
(Increase) decrease in accrued interest receivable (988) 285
Decrease (increase) in other assets 1,827 (8,156)
Origination of loans held for sale (178,182) (181,851)
Proceeds from sales of loans held for sale 177,997 192,130
Increase in accrued interest payable 3,094 1,254
Decrease in other liabilities (13,526) (1,004)
Decrease (increase) in value of bank owned life insurance 779 (582)
Increase in capitalized interest, net (1,815) (2,334)
Net cash provided by operating activities 59,835 59,891
Investing activities:    
Repayments, maturities and calls of investment securities held to maturity 3,780 780
Sale of investment securities available for sale 7,012 351,614
Purchases of investment securities available for sale (206,667) (481,978)
Repayments of investment securities available for sale 50,233 144,208
Proceeds from BOLI surrender 96,429 0
Net increase in loans (101,978) (135,856)
Purchases of stock of Federal Home Loan Bank of Pittsburgh (92,211) (100,438)
Redemptions of stock of Federal Home Loan Bank of Pittsburgh 93,690 102,854
Sales of other real estate owned 1,121 4,105
Investment in premises and equipment (3,792) (4,490)
Sales of premises and equipment 157 1,585
Net cash used for investing activities (152,226) (117,616)
Financing activities:    
Net (decrease) increase in demand and saving deposits (45,121) 101,267
Increase (decrease) in time deposits 61,196 (58,069)
Increase in brokered deposits 98,890 43,419
Decrease in loan payable 0 (376)
Receipts from FHLB advances 68,146,387 72,320,785
Repayments of FHLB advances (68,226,050) (72,351,370)
Receipts from federal funds purchased and securities sold under agreement to repurchase 13,923,750 12,312,000
Repayments of federal funds purchased and securities sold under agreement to repurchase (13,881,750) (12,377,000)
Dividends paid (6,298) (4,399)
Issuance of common stock and exercise of common stock options 7,062 885
Purchase of treasury stock (6,061) (6,029)
Net cash provided by (used for) financing activities 72,005 (18,887)
Decrease in cash and cash equivalents (20,386) (76,612)
Cash and cash equivalents at beginning of period 723,866 821,923
Cash and cash equivalents at end of period 703,480 745,311
Supplemental Disclosure of Cash Flow Information:    
Interest 17,967 14,490
Income taxes 17,594 10,352
Non-cash information:    
Loans transferred to other real estate owned 1,296 2,766
Loans transferred to portfolio from held-for-sale at fair value 1,766 11,015
Goodwill adjustments, net $ 0 $ (1,532)