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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Operating activities:          
Net income/ (loss) $ (14,338) $ 28,276 $ (4,351) $ 58,593  
Adjustments to reconcile net income/ (loss) to net cash provided by operating activities:          
Depreciation and amortization     9,309 6,724  
Provision for credit losses 58,686 1,633 83,155 1,505 $ 4,684
Share based compensation expense     1,792 1,473  
Tax benefits associated with share based compensation     140 57  
Deferred income tax expense/ (benefit)     (21,282) 1,795  
Origination of loans held for sale     (546,596) (299,401)  
Proceeds from sales of loans held for sale     539,159 278,290  
Gains on sales of loans held for sale     (7,627) (6,627)  
Losses on sales of other real estate owned     32 173  
Investment securities gains (212) (5) (381) (5)  
Increase (Decrease) in Operating Capital [Abstract]          
Net increase in accrued interest receivable     (17,176) (1,540)  
Net increase in other assets     (4,456) (4,880)  
Net increase/(decrease) in accrued expenses and other liabilities     8,389 (6,126)  
Other - net     1,019 1,162  
Net cash provided by operating activities     41,126 31,193  
Investing activities:          
(Purchases) of other equity securities     (6,646)    
Proceeds from other equity securities       18,699  
Purchases of investments available-for-sale     (393,286) (15,919)  
Proceeds from sales of investment available-for-sale     112,301 0  
Proceeds from maturities, calls and principal payments of investments available-for-sale     201,671 66,887  
Net (increase) in loans     (1,116,931)    
Net decrease in loans       19,979  
Proceeds from the sales of other real estate owned     60 324  
Cash paid for the acquisition of business activity of RPJ, net of cash acquired     (26,925) 0  
Cash acquired in the acquisition of business activity of Revere Bank , net of cash paid     80,466 0  
Expenditures for premises and equipment     (1,695) (2,456)  
Net cash provided by/ (used in) investing activities     (1,150,985) 87,514  
Financing activities:          
Net increase in deposits     1,314,093 474,869  
Net increase/ (decrease) in retail repurchase agreements and federal funds purchased     774,999 (176,825)  
Proceeds from advances from FHLB     400,000 2,123,000  
Repayment of advances from FHLB     (630,348) (2,388,843)  
Retirement of subordinated debt     (10,310) 0  
Proceeds from issuance of common stock     932 746  
Stock tendered for payment of withholding taxes     (437) (702)  
Repurchase of common stock     (25,702) 0  
Dividends paid     (24,748) (20,757)  
Net cash provided by financing activities     1,798,479 11,488  
Net increase in cash and cash equivalents     688,620 130,195  
Cash and cash equivalents at beginning of period     146,103 101,481 101,481
Cash and cash equivalents at end of period $ 834,723 $ 231,676 834,723 231,676 $ 146,103
Supplemental Disclosures:          
Interest payments     32,472 43,348  
Income tax payments     17,532 18,629  
Transfers from loans to other real estate owned     $ 0 $ 414