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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 4,251 $ 11,880
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 775 775
Increase in valuation allowance, loans held-for-sale 2,600
Provision for loan losses 17,800 1,100
Amortization of intangibles 169 193
Net accretion of loans (179) (590)
Accretion on bank premises (16) (23)
Accretion on deposits (15) (4)
Accretion on borrowings (45) (54)
Stock-based compensation (370) 389
Gains on sales of securities available-for-sale, net [1] (1,596) [2]
Loss on equity securities, net 121
Gains on sale of loans held-for-sale, net (17) (21)
Gains on sale of fixed assets, net (8)
Loans originated for resale (1,045) (2,105)
Proceeds from sale of loans held-for-sale 1,145 6,440
Net loss on sale of other real estate owned 82
Increase in cash surrender value of bank owned life insurance (189) (704)
Amortization of premiums and accretion of discounts on securities available-for-sale 1,045 489
Amortization of subordinated debt issuance costs 86 41
(Increase) decrease in accrued interest receivable (550) 264
(Increase) decrease in other assets (2,269) 6,332
Decrease in other liabilities (464) (664)
Net cash provided by operating activities 20,233 24,816
Securities available-for-sale:    
Purchases (46,333) (49,912)
Sales 29,543
Maturities, calls and principal repayments 39,503 21,383
Net purchases of restricted investment in bank stocks (1,125) (675)
Payments on loans held-for-sale 112 1,677
Net increase in loans (69,837) (88,605)
Proceeds from sales of fixed assets 8
Purchases of premises and equipment (139) (936)
Proceeds from sale of other real estate owned 544
Net cash used in investing activities (77,819) (86,973)
Cash flows from financing activities    
Net (decrease) increase in deposits (45,526) 11,210
Increase in subordinated debentures 73,525
Advances of Federal Home Loan Bank ("FHLB") borrowings 435,000 100,000
Repayments of FHLB borrowings (410,000) (85,000)
Cash dividends paid on common stock (2,410) (2,403)
Common stock issuance costs (180)
Proceeds from exercise of stock options 202
Net cash provided by financing activities 50,791 23,627
Net change in cash and cash equivalents (6,795) (38,530)
Cash and cash equivalents at beginning of period 149,582 200,399
Cash and cash equivalents at end of period 142,787 161,869
Cash payments for:    
Interest paid on deposits and borrowings 10,927 7,603
Income taxes 1,223 55
Supplemental disclosures of noncash investing activities    
Transfer of loans to other real estate owned 538 580
Transfer of loans from held-for-investment to held-for-sale 21,236
Transfer of loans from held-for-sale to held-for-investment $ 7,159
[1] Not within scope of ASC 606
[2] The Company elected the modified respective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation.