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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 32,999 $ 6,030
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 880 949
(Reversal of) provision for credit losses (5,766) 16,000
Amortization of intangibles 507 652
Net accretion of loans (1,406) (1,996)
Accretion on bank premises (23) (23)
Accretion on deposits (650) (1,503)
(Accretion) amortization on borrowings, net (17) 43
Stock-based compensation 972 536
Gains on sales of securities available-for-sale, net (29)
Losses (gains) on equity securities, net 187 (178)
Gains on sale of loans held-for-sale, net (707) (393)
Loans originated for resale (23,348) (5,186)
Proceeds from sale of loans held-for-sale 21,856 17,324
Gain on sale of branches (674)
Net losses on disposition of other premises and equipment 22
Increase in cash surrender value of bank owned life insurance (1,064) (968)
Amortization of premiums and accretion of discounts on securities available-for-sale 1,605 1,101
Amortization of subordinated debentures issuance costs 76 82
Decrease increase in accrued interest receivable 68 (458)
Net change in operating leases (131) (19)
Decrease in other assets 47,156 17,366
Increase (decrease) in other liabilities 7,589 (2,869)
Net cash provided by operating activities 80,131 46,461
Cash flows from investing activities    
Purchases (33,305) (86,731)
Sales 19,624
Maturities, calls and principal repayments 72,193 50,294
Net purchases (redemptions) of restricted investment in bank stocks 2,616 (8,094)
Purchases of equity securities (2,000)
Payments on loans held-for-sale 9 75
Net increase in loans (36,553) (130,187)
Purchases of bank owned life insurance (25,000)
Purchases of premises and equipment (67) (1,728)
Proceeds from sale of branches 729
Proceeds from sale of OREO 992
Cash and cash equivalents acquired in acquisition, net 87,391
Net cash provided by (used) in investing activities 5,622 (95,364)
Cash flows from financing activities    
Net decrease in deposits (7,240) (42,225)
Advances of Federal Home Loan Bank ("FHLB") borrowings 980,000
Repayments of FHLB borrowings (66,227) (803,222)
Decrease in subordinated debt (50,000)
Cash dividends paid on common stock (3,584) (3,576)
Repurchase of treasury stock (2,411) (911)
Proceeds from exercise of stock options 45 163
Net cash (used in) provided by financing activities (129,417) 130,229
Net change in cash and cash equivalents (43,664) 81,326
Cash and cash equivalents at beginning of period 303,756 201,483
Cash and cash equivalents at end of period 260,092 282,809
Cash payments for:    
Interest paid on deposits and borrowings 11,690 24,627
Income taxes 4,350 7,476
Investing:    
Transfer of loans from held-for-investment to held-for-sale 10,995
Business combinations:    
Fair value of assets acquired 949,276
Fair value of liabilities assumed $ 852,729