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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 132,727 $ (4,351)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,918 9,309
Provision/ (credit) for credit losses (38,912) 83,155
Share based compensation expense 2,309 1,792
Deferred income tax/ (benefit) 10,879 (21,282)
Origination of loans held for sale (940,041) (546,596)
Proceeds from sales of loans held for sale 968,008 539,159
Gains on sales of loans held for sale (20,755) (7,627)
Losses on sale of other real estate owned 149 32
Investment securities gains (129) (381)
Tax benefit associated with share based compensation 1,009 140
Net (increase)/ decrease in accrued interest receivable 5,801 (17,176)
Net increase in other assets (29,675) (4,456)
Net increase/ (decrease) accrued expenses and other liabilities (23,663) 8,389
Other, net 910 1,019
Net cash provided by operating activities 75,535 41,126
Investing activities:    
Sales/ (purchases) of equity securities 24,663  
Sales/ (purchases) of equity securities   (6,646)
Purchases of investments available-for-sale (403,677) (393,286)
Proceeds from sales of investment available-for-sale 100,822 112,301
Proceeds from maturities, calls and principal payments of investments available-for-sale 187,341 201,671
Net (increase)/ decrease in loans (324,726) 1,116,931
Proceeds from the sales of other real estate owned 499 60
Cash paid for the acquisition of business activity of RPJ, net of cash acquired 0 (26,925)
Cash acquired in the acquisition of business activity of Revere Bank, net of cash paid 0 80,466
Sales of/ (expenditures for) premises and equipment (2,088) (1,695)
Net cash provided by/ (used in) investing activities 232,286 (1,150,985)
Financing activities:    
Net increase in deposits 836,034 1,314,093
Net increase/ (decrease) in in retail repurchase agreements and federal funds purchased (402,449) 774,999
Proceeds from FHLB advances 0 400,000
Repayment of FHLB advances (379,075) (630,348)
Retirement of subordinated debt 0 (10,310)
Proceeds from issuance of common stock 3,118 932
Stock tendered for payment of withholding taxes (1,538) (437)
Repurchase of common stock 0 (25,702)
Dividends paid (30,420) (24,748)
Net cash provided by financing activities 25,670 1,798,479
Net increase in cash and cash equivalents 333,491 688,620
Cash and cash equivalents at beginning of period 297,003 146,103
Cash and cash equivalents at end of period 630,494 834,723
Supplemental disclosures:    
Interest payments 22,239 32,472
Income tax payments, net of refunds of $1,834 in 2021 $ 38,226 $ 17,532