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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net Income $ 47,764 $ 78,513
Provision for credit losses 49,038 9,638
Deferred tax (benefit) expense (5,059) 2,613
Depreciation and amortization 8,676 7,777
Net gains on securities and other assets (12,608) (8,545)
Net amortization of premiums and discounts on securities 4,662 2,871
Income from increase in cash surrender value of bank owned life insurance (4,699) (4,405)
Increase in interest receivable (13,105) (110)
Mortgage loans originated for sale (287,196) (178,911)
Proceeds from sale of mortgage loans 281,424 173,961
Increase in interest payable 575 1,180
Decrease in income taxes payable (536) (556)
Increase (Decrease) in Other Operating Assets and Liabilities, Net (1,888) 7,193
Net cash provided by operating activities 70,824 76,833
Investing Activities    
Proceeds from sale and maturity of held-to-maturity securities 76,841 35,163
Payments to Acquire Held-to-maturity Securities (9,621) (200)
Proceeds from Sale of Available-for-sale Securities 0 0
Proceeds from maturities and redemptions of available-for-sale securities 272,544 134,453
Purchases of available-for-sale securities (282,461) (17,401)
Purchases of FHLB stock (21,903) (29,538)
Proceeds from the redemption of FHLB stock 25,698 50,103
Proceeds from Life Insurance Policy 1,147 0
Proceeds from Sale of Loans Receivable 25,534 28,098
Proceeds from sale of other assets 4,875 5,390
Acquisition, net of cash acquired 0 332,465
Net increase in loans (798,377) (256,168)
Payments for Purchase of Other Assets (6,570) (14,060)
Net cash (used in) provided by investing activities (712,293) 268,305
Financing Activities    
Net decrease in federal funds purchased 0 (4,000)
Net decrease in other short-term borrowings (79,497) (634,088)
Net increase in deposits 1,026,580 308,976
Repayments of other long-term debt (493) (473)
Repayments of Long-term Capital Lease Obligations 321 300
Proceeds from Issuance of Long-term Debt 0 50,000
Dividends paid (32,408) (29,562)
Proceeds from reissuance of treasury stock 222 211
Purchase of treasury stock (14,373) (6,200)
Net cash provided by (used in) financing activities 899,710 (315,436)
Net increase in cash and cash equivalents 258,241 29,702
Cash and cash equivalents at January 1 121,856 98,947
Cash and cash equivalents at September 30 $ 380,097 $ 128,649