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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES    
Net income $ 78,480 $ 63,674
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 12,279 12,901
Recovery for unfunded loan commitments (39) (546)
Net depreciation, amortization and accretion 3,309 1,597
Net amortization of discounts and premiums on securities 2,387 3,065
Stock-based compensation expense 1,231 2,353
Gain on sale of securities 0 (3,987)
Mortgage loans originated for sale (68,898) (66,535)
Proceeds from the sale of mortgage loans 70,371 66,604
Gain on the sale of mortgage loans, net (1,195) (1,061)
Gain on the sale of majority interest of insurance business (1,873) 0
Pension contribution (20,420) 0
Net increase in interest receivable (1,506) (3,886)
Net increase in interest payable 803 448
Net decrease in other assets 352 8,735
Net increase in other liabilities 9,904 69
Net Cash Provided by Operating Activities 85,185 83,431
INVESTING ACTIVITIES    
Purchases of securities (79,068) (69,699)
Proceeds from maturities, prepayments and calls of securities 71,433 58,601
Proceeds from sales of securities 0 7,751
Net (purchases) sales of Federal Home Loan Bank stock (1,909) 1,304
Net increase in loans (64,387) (268,132)
Proceeds from sale of loans not originated for resale 7,695 3,581
Purchases of premises and equipment (2,588) (3,646)
Proceeds from the sale of premises and equipment 135 376
Proceeds from the sale of majority interest of insurance business 4,540 0
Net Cash Used in Investing Activities (64,149) (269,864)
FINANCING ACTIVITIES    
Net increase in core deposits 127,917 109,637
Net (decrease) increase in certificates of deposit (88,203) 61,048
Net decrease in securities sold under repurchase agreements (4,961) (10,909)
Net (decrease) increase in short-term borrowings (5,000) 25,000
Repayments of long-term borrowings (1,867) (1,802)
Treasury shares issued-net (657) (688)
Cash dividends paid to common shareholders (25,115) (20,899)
Repurchase of warrant (7,652) 0
Net Cash (Used) Provided by Financing Activities (5,538) 161,387
Net increase (decrease) in cash and cash equivalents 15,498 (25,046)
Cash and cash equivalents at beginning of period 117,152 139,486
Cash and Cash Equivalents at End of Period 132,650 114,440
Supplemental Disclosures    
Loans transferred to held for sale 7,695 43,151
Deposits transferred to held for sale 0 38,960
Interest paid 37,838 24,682
Income taxes paid, net of refunds 15,728 21,096
Transfer net assets to investment in insurance company partnership 1,917 0
Transfers of loans to other real estate owned $ 647 $ 2,116