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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income $ 60,352 $ 43,220 $ 31,082
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation and amortization of premises and equipment 3,062 3,151 2,704
Provision for loan losses 21,100 6,000 38,700
Increase to valuation allowance, loans held-for-sale 15,592
Amortization of intangibles 627 724 820
Net accretion of loans (1,127) (2,073) (4,280)
Accretion on bank premises (67) (74) (132)
Accretion on deposits (57) (31) (172)
Accretion on borrowings (76) (203) (307)
Net deferred income tax expense 926 3,699 1,969
Stock-based compensation 1,884 1,778 2,113
Gains on sales of investment securities, net [1] (1,596) [1],[2] (4,234)
Change in fair value of equity securities, net 267
Gains on sale of loans held-for-sale, net (61) (708) (232)
Loans originated for resale (4,121) (9,083) (10,004)
Proceeds from sale of loans held-for-sale 4,552 63,731 10,048
Net loss (gain) on disposition of premises and equipment 26 (8) (57)
Net loss (gain) on sale of other real estate owned 192 82 (182)
Increase in cash surrender value of bank owned life insurance (3,094) (2,952) (2,559)
Amortization of premiums and accretion of discounts on investments securities, net 3,233 2,631 1,692
Amortization of subordinated debt issuance costs 332 165 191
Increase in accrued interest receivable (2,744) (2,505) (420)
(Increase) Decrease in other assets (1,134) 5,706 (15,006)
Increase (Decrease) in other liabilities 4,988 3,887 (2,022)
Net cash provided by operating activities 89,060 131,133 49,712
Investment securities available-for-sale:      
Purchases (140,013) (224,621) (165,527)
Sales 29,543 85,253
Maturities, calls and principal repayments 141,859 109,104 137,587
Investment securities held-to-maturity:      
Purchases (1,000)
Maturities and principal repayments   14,757
Net redemptions (purchases) of restricted investment in bank stocks 2,361 (9,187) 8,302
Loans held-for-sale payments 159 3,122
Net increase in loans (362,625) (714,159) (490,777)
Purchases of premises and equipment (2,051) (2,661) (2,702)
Purchases of bank owned life insurance (10,000) (16,999)
Proceeds from sale of premises and equipment 1,627 8 445
Proceeds from life insurance death benefits 585
Proceeds from sale of other real estate owned 884 1,124 2,992
Net cash used in investing activities (357,214) (817,727) (427,669)
Cash flows from financing activities      
Net increase in deposits 297,021 450,888 553,477
Increase in subordinated debt 73,525
Advances of FHLB borrowings 1,733,000 1,280,000 375,000
Repayments of FHLB borrowings (1,803,000) (1,071,000) (570,000)
Repayment of repurchase agreement (15,000)
Cash dividends paid on common stock (9,664) (9,612) (9,067)
Cash dividends paid on preferred stock (22)
Redemption of preferred stock (11,250)
Issuance cost of common stock (180)
Secondary offering of common stock 38,439
Tax benefit of options exercised 264 117
Proceeds from exercise of stock options 875 417 767
Net shares issued in satisfaction of performance units earned (819)
Net cash provided by financing activities 290,938 635,777 377,461
Net change in cash and cash equivalents 22,784 (50,817) (496)
Cash and cash equivalents at beginning of period 149,582 200,399 200,895
Cash and cash equivalents at end of period 172,366 149,582 200,399
Cash payments for:      
Interest paid 55,662 36,721 30,862
Income taxes paid 9,092 16,205 22,945
Investing:      
Transfer of loans to other real estate owned 538 1,118 887
Transfer of loan held-for-sale to loans held-for-investment 45,552 54,422
Transfer of loans held-for-investment to loans held-for-sale 21,236 73,916 77,817
Transfer from investment securities held-to-maturity to investment securities available-for-sale $ 209,855
[1] Not within scope of ASC 606.
[2] The Company elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation.