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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2021 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2020 USD ($)
Cash flows from operating activities: |  |  |  |  |
Net cash provided by operating activities |  |  | $ 257,120 |  | $ 190,847
Cash flows from investing activities: |  |  |  |  |
Proceeds from sale of property and equipment |  |  | 28 |  | 22
Purchases of property and equipment |  |  | (3,024) |  | (10,213)
Purchases of equity securities |  |  | (14,192) |  | (10,145)
Purchases of available-for-sale debt securities |  |  | (237,353) |  | (91,445)
Proceeds from sales of equity securities | $ 3,589 |  | 5,165 |  | 0
Proceeds from sales of available-for-sale debt securities |  |  | 60,978 |  | 28,468
Proceeds from sales of investment real estate |  |  | 2,591 |  | 0
Maturities of available-for-sale debt securities |  |  | 53,313 |  | 71,214
Net cash provided by (used in) investing activities |  |  | (132,494) |  | (12,099)
Cash flows from financing activities: |  |  |  |  |
Preferred stock dividend |  |  | (5) |  | (5)
Common stock dividend |  |  | (10,101) |  | (10,405)
Purchase of treasury stock |  |  | (245) |  | (16,616)
Payments related to tax withholding for share-based compensation |  |  | (784) |  | (1,070)
Repayment of debt |  |  | (735) |  | (735)
Net cash provided by (used in) financing activities |  |  | (11,870) |  | (28,831)
Cash and cash equivalents, and restricted cash and cash equivalents: |  |  |  |  |
Net increase (decrease) during the period |  |  | 112,756 |  | 149,917
Balance, beginning of period |  |  | 179,871 |  | 184,744
Balance, end of period | 292,627 |  | 292,627 |  | 334,661
Cash and cash equivalents, and restricted cash and cash equivalents within the Consolidated Balance Sheets |  |  |  |  |
Cash and cash equivalents | 286,493 |  | 286,493 |  |
Restricted cash and cash equivalents | 6,134 | [1] | 6,134 | [1] |
Total cash and cash equivalents and restricted cash and cash equivalents | $ 292,627 |  | $ 292,627 |  | $ 334,661
[1] | See “—Note 5 (Insurance Operations)” for a discussion of the nature of the restrictions for restricted cash and cash equivalents and “—Note 14 (Variable Interest Entities)” for a discussion of restricted cash held in a trust account.

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