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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net income $ 21,778 $ 19,563
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 1,536 1,548
Provision for loan losses 18,900 2,550
Increase in valuation allowance 12,325
Amortization of intangibles 338 386
Net accretion of loans (806) (846)
Accretion on bank premises (33) (41)
Accretion on deposits (31) (12)
Accretion on borrowings (82) (107)
Stock-based compensation expense (98) 852
Gains on sales of investment securities, net [1] (1,596) [2]
Loss on equity securities, net 168
Gains on sales of loans held-for-sale, net (29) (70)
Gains on sales of fixed assets, net (8)
Loans originated for resale (1,498) (3,891)
Proceeds from sale of loans held-for sale 1,897 8,979
Net loss on sale of other real estate owned 82
Increase in cash surrender value of bank owned life insurance (964) (1,417)
Amortization of premiums and accretion of discounts on investments securities, net 1,832 1,078
Amortization of subordinated debt issuance costs 168 82
Increase in accrued interest receivable (1,284) (229)
(Increase) decrease in other assets (126) 4,787
Increase in other liabilities 12,633 4,026
Net cash provided by operating activities 54,299 48,041
Investment securities available-for-sale:    
Purchases (60,595) (117,857)
Sales 29,543
Maturities, calls and principal repayments 75,506 39,313
Net (purchases) redemptions of restricted investment in bank stocks 1,056 (7,842)
Payments on loans held-for-sale 159 2,379
Net increase in loans (181,868) (278,208)
Proceeds from sales of fixed assets 8
Purchases of premises and equipment (233) (1,062)
Proceeds from sale of other real estate owned 544
Net cash used in investing activities (165,975) (333,182)
Cash flows from financing activities    
Net increase in deposits 110,313 86,114
Increase in subordinated debentures 73,525
Advances of Federal Home Loan Bank ("FHLB") borrowings 863,000 425,000
Repayments of FHLB borrowings (904,000) (260,000)
Repayment of repurchase agreement (15,000)
Cash dividends paid on common stock (4,827) (4,802)
Common stock issuance costs (180)
Proceeds from exercise of stock options 252 118
Net cash provided by financing activities 138,263 231,250
Net change in cash and cash equivalents 26,587 (53,891)
Cash and cash equivalents at beginning of period 149,582 200,399
Cash and cash equivalents at end of period 176,169 146,508
Cash payments for:    
Interest paid on deposits and borrowings 25,055 14,643
Income taxes 1,497 3,065
Supplemental disclosures of noncash investing activities    
Transfer of loans to other real estate owned 538 580
Transfer of loans held-for-investment to loans held-for-sale 21,236
Transfer of loans held-for-sale to held-for-investment $ 45,552 $ 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.