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Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME $ 51,957 $ 47,851
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs 1,838 3,548
Depreciation and amortization 1,162 4,114
Amortization of intangible assets 893 452
Amortization of operating lease right-of-use assets 1,938  
Provision for loan losses 1,044 3,822
Loans originated for sale (40,074) (35,270)
Proceeds from sales of loans held for sale 40,508 34,932
Change in market value of equity securities (525) 366
Gains on proceeds from bank owned life insurance policies 0 (421)
Gains on sales of loans held for sale (1,285) (546)
Losses (gains) on other real estate and other repossessed assets 87 (98)
Losses on sales of premises and equipment 486 3
Stock-based compensation 1,822 1,930
Deferred tax benefit 0 (1,263)
Excess tax benefits 183 313
Increase in other assets (20,386) (1,438)
Increase in other liabilities 21,935 8,105
NET CASH PROVIDED BY OPERATING ACTIVITIES 61,583 66,400
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash acquired in acquisitions 13,454 0
Proceeds from repayments and maturities of available for sale securities 102,133 68,240
Proceeds from repayments and maturities of held to maturity securities 22,330 18,229
Proceeds from sales of equity securities 1,153 2,155
Purchase of available for sale securities (149,182) (68,845)
Purchase of held to maturity securities (18,897) (37,655)
Purchase of equity securities (259) (469)
Death benefit proceeds from bank owned life insurance policy 121 755
Proceeds from redemptions of Federal Home Loan Bank stock 79,217 5,716
Purchases of Federal Home Loan Bank stock (82,155) (6,598)
Net increase in loans (38,613) (181,561)
Proceeds from sales of other real estate and repossessed assets 399 1,795
Proceeds from dispositions and sales of premises and equipment 1,827 61
Purchases of premises and equipment (4,166) (3,899)
NET CASH USED IN INVESTING ACTIVITIES (72,638) (202,076)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 180,990 274,029
Decrease in federal funds purchased and securities sold under agreements to repurchase (34,579) (77,538)
Proceeds from other borrowings 46,260 39,437
Repayments of other borrowings (89,353) (46,700)
Exercise of stock options 307 307
Retirement of restricted stock (654) (759)
Dividends paid (18,557) (15,797)
NET CASH PROVIDED BY FINANCING ACTIVITIES 84,414 172,979
Net increase in cash and cash equivalents 73,359 37,303
Cash and cash equivalents, beginning of period 208,599 142,933
CASH AND CASH EQUIVALENTS, END OF PERIOD 281,958 180,236
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 10,847 4,614
Cash paid during the period for interest 46,532 25,748
Transfer of loans into other repossessed assets and other real estate owned 599 3,608
Initial recognition of operating lease right-of-use assets 17,953  
Initial recognition of operating lease liabilities 19,509  
Non-cash assets acquired:    
Federal Home Loan Bank stock 1,767 0
Investment securities available for sale 22,734 0
Loans, including loans held for sale 426,118 0
Goodwill and other intangible assets, net 23,125 0
Other assets 9,304 0
Total non-cash assets acquired 483,048 0
Deposits 409,638 0
Other borrowings 40,957 0
Other liabilities 2,490 0
Total liabilities assumed 453,085 0
Common stock issued $ 43,417 $ 0