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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 50,778 $ 51,879
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 2,042 2,494
Provision for loan losses 3,266 1,791
Net amortization of securities 2,759 3,942
Net accretion of discount and deferred loan fees on loans (3,150) (4,107)
Net realized gain on sales of securities   (262)
Net unrealized (gain) loss on equity securities (42) 112
Net gain on sales of bank premises and equipment (29) (13)
Net gain on sales of bank premises held for sale (448) (136)
Impairment losses on bank premises held for sale 37 52
Net (gain) loss on sales of foreclosed assets (240) 281
Gain on loan foreclosures   (96)
Write-down of foreclosed assets 552 711
Direct write-downs (552) (711)
Amortization of intangibles 1,087 1,169
Decrease (increase) in mortgage servicing rights 2,982 (274)
Amortization of subordinated debt purchase accounting adjustment 49 50
Mortgage loans originated for sale (106,885) (103,983)
Proceeds from sale of mortgage loans 104,254 106,544
Net gain on sale of mortgage loans (2,177) (2,206)
Gain on sale of First Community Title Services, Inc. (498)  
Decrease (increase) in accrued interest receivable 484 (1,429)
(Increase) decrease in other assets (2,228) 1,329
Increase (decrease) in other liabilities 4,705 (1,475)
Net cash provided by operating activities 57,298 56,373
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in interest-bearing time deposits with banks   496
Proceeds from sales of securities available-for-sale   15,665
Proceeds from paydowns, maturities, and calls of securities 134,347 118,821
Purchase of securities (40,903) (81,592)
Net increase in loans (26,049) (20,090)
Purchase of restricted stock   (2,374)
Proceeds from redemption of restricted stock 294 2,531
Purchases of bank premises and equipment (1,558) (480)
Proceeds from sales of bank premises and equipment 176 31
Proceeds from sales of bank premises held for sale 1,039 1,599
Proceeds from sales of foreclosed assets 4,142 6,092
Capital improvements to foreclosed assets (41)  
Cash received from sale of First Community Title Services, Inc. 114  
Net cash provided by investing activities 71,561 40,699
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in deposits (91,912) (116,031)
Net (decrease) increase in repurchase agreements (13,928) 8,062
Repayment of Federal Home Loan Bank borrowings   (29,000)
Repurchase of common stock   (907)
Cash dividends paid (54,957) (31,769)
Net cash used in financing activities (160,797) (169,645)
NET DECREASE IN CASH AND CASH EQUIVALENTS (31,938) (72,573)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 186,879 165,683
CASH AND CASH EQUIVALENTS AT END OF YEAR 154,941 93,110
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 7,646 5,674
Cash paid for income taxes 880 851
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES    
Transfers of loans to foreclosed assets 1,788 1,889
Sales of foreclosed assets through loan origination $ 360 $ 1,174