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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 $ 33,065 $ 37,483
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 11,000 5,100
Depreciation and amortization of premises and equipment 3,141 3,148
Net (accretion) and other amortization (772) (1,044)
Net amortization on securities 2,543 2,716
Increase in cash surrender value of bank owned life insurance (1,638) (1,670)
Amortization of other intangible assets 507 605
Share based compensation expense 3,086 2,755
Net securities gains (3,525) (201)
Loss on termination of swaps 3,403  
Change in fair value of loans held for sale 2,643  
Increase in accrued interest receivable (4,915) (461)
SBA loans originated for sale (36,228) (23,012)
Proceeds from sale of the guaranteed portion of SBA loans 40,016 25,108
Gain on sale of the guaranteed portion of SBA loans (3,031) (1,662)
(Increase) decrease in other assets (26,545) 3,149
Decrease in accrued expenses and other liabilities (1,047) (4,551)
Net cash provided by operating activities 21,703 47,463
Cash flows from investing activities:    
Purchases of securities available for sale (334,028) (64,373)
Purchases of securities, restricted (43,313) (63,771)
Proceeds from sales of securities available for sale 152,981 46,478
Redemption of securities, restricted 52,830 59,330
Maturities, calls and principal payments of securities available for sale 360,225 102,141
Maturities, calls and principal payments of securities held to maturity 32,380 19,900
Net increase in loans (961,658) (249,274)
Proceeds from sales of other real estate owned ("OREO"), net   297
Purchase of premises and equipment (3,421) (1,684)
Net cash used in investing activities (744,004) (150,956)
Cash flows from financing activities:    
Net increase (decrease) in deposits 1,554,423 (143,093)
Net (decrease) increase in FHLB advances (220,000) 96,568
Net increase in repurchase agreements 354 417
Net proceeds from issuance of common stock 876 765
Purchase of treasury stock (4,633) (625)
Repurchase of surrendered stock from vesting of stock plans (1,050) (877)
Cash dividends paid (14,396) (13,812)
Net cash provided by (used in) financing activities 1,315,574 (60,657)
Net increase (decrease) in cash and cash equivalents 593,273 (164,150)
Cash and cash equivalents at beginning of period 117,194 295,368
Cash and cash equivalents at end of period 710,467 131,218
Cash paid for:    
Interest 20,099 31,805
Income taxes $ 8,613 5,783
Non-cash investing and financing activities:    
Transfers from portfolio loans to loans held for sale   $ 12,643