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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 51,263 $ 53,582
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 10,561 1,575
Depreciation of premises and equipment 2,318 2,478
Net amortization of premium and discount on securities and loans 4,101 3,113
Amortization of intangibles 688 714
Share-based compensation 2,696 2,295
Tax benefit (expense) from stock option exercises and other equity awards (70) 202
Income from bank-owned life insurance [1] (1,922) (1,784)
Net gains on loan sales, including fair value adjustments (33,799) (10,749)
Net realized losses on securities [1] 0 80
Proceeds from sales of loans 586,677 365,057
Loans originated for sale (599,789) (380,635)
(Increase) decrease in operating lease right-of-use assets (3,069) 1,422
Increase (decrease) in operating lease liabilities 3,151 (1,312)
(Increase) decrease in other assets (67,262) (41,239)
Increase (decrease) in other liabilities 62,634 42,575
Net cash provided by (used in) operating activities 18,178 37,374
Cash flows from investing activities:    
Purchases of mortgage-backed securities available for sale (247,957) (72,262)
Purchases of other investment securities available for sale (129,000) (10,507)
Proceeds from sale of other investment securities available for sale 0 9,920
Maturities and principal payments of mortgage-backed securities available for sale 228,268 96,521
Maturities and principal payments of other investment securities available for sale 140,500 51,135
Net redemption (purchases) of Federal Home Loan Bank stock 13,384 1,038
Net (increase) decrease in loans (332,850) (92,135)
Purchases of loans (51,081) (7,324)
Proceeds from the sale of property acquired through foreclosure or repossession 1,107 0
Purchases of premises and equipment (1,331) (2,768)
Proceeds from surrender of bank-owned life insurance 787 326
Payments for (Proceeds from) Real Estate Partnership Investment, Net 0 (1,256)
Net cash provided by (used in) investing activities (378,173) (27,312)
Cash flows from financing activities:    
Net increase (decrease) in deposits 786,811 62,105
Proceeds from Federal Home Loan Bank advances 1,592,500 1,334,000
Repayment of Federal Home Loan Bank advances (2,020,096) (1,327,936)
Proceeds from Payment Protection Program Lending Facility 200,628 0
Repayment of Payment Protection Program Lending Facility (94,882) 0
Treasury stock purchased (4,322) 0
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (417) (280)
Cash dividends paid (26,667) (25,322)
Net cash provided by (used in) financing activities 433,555 42,567
Net increase (decrease) in cash and cash equivalents 73,560 52,629
Cash and cash equivalents at beginning of period 138,455 93,475
Cash and cash equivalents at end of period 212,015 146,104
Noncash Investing and Financing Activities:    
Loans charged off 1,072 1,888
Loans transferred to property acquired through foreclosure or repossession 28 2,000
Operating lease right-of-use assets 0 28,923
Operating lease liabilities 0 30,853
Fair value of debt securities transferred from held-to-maturity to available for sale 0 10,316
Supplemental Disclosures:    
Interest Payments 36,868 47,168
Income tax payments $ 15,039 $ 14,531
[1] As reported in the Consolidated Statements of Income.