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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 28,071 $ 35,988
Proceeds from sales of loans held for sale 121,921 34,375
Originations of loans held for sale (128,939) (43,145)
Items not requiring (providing) cash:    
Depreciation 4,982 4,631
Amortization 847 1,059
Compensation expense for stock option grants 558 443
Provision for loan losses 9,871 3,550
Net gains on loan sales (2,430) (623)
Net realized gains on sales of available-for-sale securities (78) (10)
Net (gains) losses on sale of premises and equipment (24) 21
Net losses on sale/write-down of other real estate owned and repossessions 111 161
Accretion of deferred income, premiums, discounts and other (2,548) (1,990)
Loss on derivative interest rate products 514 68
Deferred income taxes (29,501) 578
Changes in    
Interest receivable (1,604) (903)
Prepaid expenses and other assets 17,023 (2,031)
Accrued expenses and other liabilities 1,878 4,443
Income taxes refundable/payable 14,755 2,555
Net cash provided by operating activities 35,407 39,170
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in loans (251,662) (83,072)
Purchase of loans (3,625) (45,240)
Purchase of premises and equipment (3,669) (6,708)
Proceeds from sale of premises and equipment 372 113
Proceeds from sale of other real estate owned and repossessions 2,011 4,537
Capitalized costs on other real estate owned (126) 0
Proceeds from termination of interest rate derivative 45,864 0
Proceeds from sales of available-for-sale securities 19,236 28,057
Proceeds from maturities and calls of available-for-sale securities 13,850 7,870
Principal reductions on mortgage-backed securities 11,172 7,402
Purchase of available-for-sale securities (95,145) (94,558)
Redemption of Federal Home Loan Bank stock and change in other interest-earning assets 2,197 1,345
Net cash used in investing activities (259,525) (180,254)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase (decrease) in certificates of deposit (13,958) 139,518
Net increase in checking and savings deposits 566,021 24,040
Increase (Decrease) in Short-Term Borrowings, Net (119,421) (30,710)
Advances from borrowers for taxes and insurance 3,245 5,458
Proceeds from issuance of subordinated notes 73,513 0
Dividends paid (23,903) (19,674)
Purchase of the Company's common stock (8,148) (849)
Stock options exercised 259 1,931
Net cash provided by financing activities 477,608 119,714
INCREASES (DECREASES) IN CASH AND CASH EQUIVALENTS 253,490 (21,370)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 220,155 202,742
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 473,645 $ 181,372