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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 14,375 $ 21,703 $ (6,593)
Adjustments to reconcile net income (loss) to net cash provided by operating activities      
(Reversal of) provision for credit losses (1,107) 991 15,761
Reversal of provision for loan repurchases (132) 28 (600)
Depreciation on premises and equipment 3,885   4,524
Amortization of intangible assets 282 306 429
Amortization of debt issuance costs 385   58
Net amortization of premium on securities 432   77
Net (accretion) amortization of deferred loan costs and fees (1,315)   587
Accretion of discounts on purchased loans 426   (8)
Deferred income tax (benefit) expense (845)   573
Bank owned life insurance income (672) (691) (578)
Share-based compensation expense 1,544   1,576
(Income) loss on interest rate swaps (271)   182
Loss on investments in alternative energy partnerships and affordable housing investments 4,812   3,052
Impairment on capitalized software projects 0   157
Fair value adjustment for loans held-for-sale 0 (36) 1,586
Net gain on sale of loans 0 0 27
Loss on sale or disposal of property and equipment 0   106
Proceeds from sales of and principal collected on loans held-for-sale 5   822
Change in accrued interest receivable and other assets 4,985   (5,865)
Change in accrued interest payable and other liabilities (2,853)   (8,824)
Net cash provided by operating activities 23,936   7,049
Cash flows from investing activities:      
Proceeds from maturities and calls of securities available-for-sale 0   30,000
Proceeds from principal repayments of securities available-for-sale 9,378   602
Purchases of securities available-for-sale (52,845)   (147,410)
Loan originations and principal collections, net 267,366   282,116
Purchase of loans (132,866)   0
Redemption of Federal Home Loan Bank stock 0   11,490
Purchase of Federal Home Loan Bank and other bank stock (458)   (9,307)
Purchases of premises and equipment (849)   (2,487)
Payments of capital lease obligations (33)   (134)
Funding of equity investment (876)   (4,437)
(Increase) decrease in investments in alternative energy partnerships 538   (3,177)
Net cash provided by investing activities 89,355   157,256
Cash flows from financing activities:      
Net increase in deposits 56,242   135,671
Net increase (decrease) in short-term Federal Home Loan Bank advances 95,000   (193,000)
Repayment of long-term Federal Home Loan Bank advances 0   (24,000)
Redemption of preferred stock (93,269)   (1,612)
Purchase of treasury stock 0   (12,041)
Proceeds from exercise of stock options 300   0
Purchase of stock surrendered due to employee tax liability (6,700)   (299)
Dividend equivalents paid on participating securities 0   (94)
Dividends paid on preferred stock (3,141)   (3,533)
Dividends paid on common stock (3,033)   (2,877)
Net cash provided by (used in) financing activities 45,399   (101,785)
Net change in cash and cash equivalents 158,690   62,520
Cash and cash equivalents at beginning of period 220,819   373,472
Cash and cash equivalents at end of period 379,509 220,819 435,992
Supplemental cash flow information      
Interest paid on deposits and borrowed funds 7,313   20,331
Income taxes paid 0   0
Supplemental disclosure of non-cash activities      
Equipment acquired under capital leases 256   30
Operating lease right-of-use assets recognized 4,023   0
Operating lease liabilities recognized 4,023   0
Impact of adoption of ASU 2016-13 on retained earnings $ 804,693 $ 897,207 $ 835,002