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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 41,680 $ 32,640
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 2,336 2,364
Provision for loan losses 20,000 4,000
Increase in valuation allowance 15,325
Amortization of intangibles 483 555
Net accretion of loans (969) (1,106)
Accretion on bank premises (46) (58)
Accretion on deposits (46) (19)
Accretion on borrowings (98) (156)
Stock-based compensation expense 499 1,315
Gains on sales of investment securities, net [1] (1,596) [2]
Change in fair value of equity securities, net 325
Gains on sales of loans held-for-sale, net (31) (120)
Gains on sales of fixed assets, net (8)
Loans originated for resale (2,206) (6,790)
Proceeds from sale of loans held-for-sale 2,337 12,015
Net loss on sale of other real estate owned 192 82
Net increase in cash surrender value of bank owned life insurance (1,715) (2,402)
Amortization of premiums and accretion of discounts on investments securities, net 2,577 1,808
Amortization of subordinated debt issuance costs 250 124
Increase in accrued interest receivable (2,220) (1,876)
Decrease in other assets 42 8,770
Increase in other liabilities 3,945 3,444
Net cash provided by operating activities 67,335 68,311
Investment securities available-for-sale:    
Purchases (114,457) (138,945)
Sales 29,543
Maturities, calls and principal repayments 115,757 61,700
Net redemptions (purchases) of restricted investment in bank stocks 1,011 (5,362)
Payments on loans held-for-sale 159 2,841
Net increase in loans (283,283) (447,457)
Proceeds from sales of fixed assets 8
Purchases of premises and equipment (1,629) (2,148)
Purchases of bank owned life insurance (10,000)
Proceeds from sale of other real estate owned 884 1,124
Net cash used in investing activities (281,558) (508,696)
Cash flows from financing activities    
Net increase in deposits 193,683 279,517
Increase in subordinated debentures 73,525
Advances of Federal Home Loan Bank ("FHLB") borrowings 1,256,000 780,000
Repayments of FHLB borrowings (1,296,000) (656,000)
Repayment of repurchase agreement (15,000)
Cash dividends paid on common stock (7,243) (7,207)
Common stock issuance costs (180)
Proceeds from exercise of stock options 524 118
Net cash provided by financing activities 220,489 381,248
Net change in cash and cash equivalents 6,266 (59,137)
Cash and cash equivalents at beginning of period 149,582 200,399
Cash and cash equivalents at end of period 155,848 141,262
Cash payments for:    
Interest paid on deposits and borrowings 40,200 25,807
Income taxes 2,507 4,670
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 34,652
Transfer of loans held-for-sale to held-for-investment $ 45,552
[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.