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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 14,439 $ 24,624
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 1,905 1,608
Net accretion on loans and deposits (4,833) (3,905)
Amortization of junior subordinated debentures 225 197
Net amortization on securities 1,242 458
Amortization of intangible assets 2,652 2,838
Deferred taxes (427) (540)
Provision for loan losses 4,247 3,351
Stock based compensation 1,864 2,394
Origination of loans held for sale (891) (50,482)
Proceeds from sale of loans originated for sale 2,248 52,992
Net (gains) losses on sale of securities 63 (257)
Net (gain) loss on transfer of loans to loans held for sale (167)  
Net gains on sale of loans (16) (1,396)
Net OREO (gains) losses and valuation adjustments 1,152 (20)
Bargain purchase gain   (14,217)
Income from CLO warehouse investments (2,415) (444)
(Increase) decrease in other assets 3,746 146
Increase (decrease) in other liabilities (3,458) 3,625
Net cash provided by (used in) operating activities 21,576 20,972
Cash flows from investing activities:    
Purchases of securities available for sale (3,414) (20,560)
Proceeds from sales of securities available for sale 24,327 17,635
Proceeds from maturities, calls, and pay downs of securities available for sale 17,330 7,896
Purchases of securities held to maturity (29,117)  
Purchases of loans (shared national credits) (995) (25,597)
Proceeds from sale of loans 9,057  
Net change in loans (222,326) (147,556)
Purchases of premises and equipment, net (3,003) (1,482)
Net proceeds from sale of OREO 1,709 2,989
Net cash paid for CLO warehouse investments (15,000) (5,000)
Net proceeds from CLO warehouse investments 25,500 2,450
Purchases of FHLB and FRB stock, net (4,029) (3,089)
Cash paid for acquisitions, net of cash acquired (14,479) (127,591)
Proceeds from sale of loans obtained through Doral Money Inc. acquisition   36,765
Net cash provided by (used in) investing activities (214,440) (263,140)
Cash flows from financing activities:    
Net increase in deposits 48,894 35,028
Increase (decrease) in customer repurchase agreements 6,012 6,302
Increase (decrease) in Federal Home Loan Bank advances 100,000 58,000
Proceeds from issuance of subordinated notes, net 48,676  
Proceeds from the issuance of other borrowings   99,975
Repayment of other borrowings   (1,659)
Redemption of TARP preferred stock (10,500)  
Purchase of treasury stock (80)  
Dividends on preferred stock (690) (583)
Net cash provided by (used in) financing activities 192,312 197,063
Net increase (decrease) in cash and cash equivalents (552) (45,105)
Cash and cash equivalents at beginning of period 105,277 160,888
Cash and cash equivalents at end of period 104,725 115,783
Supplemental cash flow information:    
Interest paid 7,415 5,757
Income taxes paid, net 7,478 5,002
Supplemental noncash disclosures:    
Loans transferred to OREO 425 747
Premises transferred to OREO 2,215  
Securities transferred in satisfaction of other borrowings   98,316
Loan purchases, not yet settled (shared national credits)   $ 3,983
Loans transferred to loans held for sale at fair value $ 18,680