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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 $ 18,413 $ 25,317
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,779 2,208
Net amortization of securities 2,535 3,066
Change in unamortized net loan costs and premiums (278) 46
Premises and equipment depreciation 2,942 2,821
Stock-based compensation expense 716 836
Accretion of purchase accounting entries, net (2,613) (2,780)
Amortization of other intangibles 621 621
Income from cash surrender value of bank-owned life insurance policies (1,558) (1,328)
Gain on sales of securities, net (157) 0
Loss on other real estate owned 146 0
Loss on premises and equipment, net 21 0
Net change in other assets and liabilities (1,722) (3,644)
Net cash provided by operating activities 20,845 27,163
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 67,983 0
Proceeds from maturities, calls and prepayments of securities available for sale 77,812 72,278
Purchases of securities available for sale (76,620) (90,399)
Net change in loans (85,483) 2,852
Purchase of Federal Home Loan Bank stock (10,471) (1,172)
Proceeds from sale of Federal Home Loan Bank stock 18,661 5,123
Purchase of premises and equipment, net (1,803) (2,675)
Purchase of bank-owned life insurance 0 (14,000)
Proceeds from sale of other real estate owned 0 69
Net cash used in investing activities (9,921) (27,924)
Cash flows from financing activities:    
Net increase in deposits 10,968 38,885
Proceeds from advances from the Federal Home Loan Bank 9,722,907 7,276,306
Repayments of advances from the Federal Home Loan Bank (9,766,912) (7,320,515)
Net change in short-term other borrowings 5,048 (3,255)
Exercise of stock options 195 635
Treasury stock purchased (346) (324)
Cash dividends paid on common stock (9,945) (9,082)
Net cash used in financing activities (38,085) (17,350)
Net change in cash and cash equivalents (27,161) (18,111)
Cash and cash equivalents at beginning of year 98,754 90,685
Cash and cash equivalents at end of year 71,593 72,574
Supplemental cash flow information:    
Interest paid 34,394 25,537
Income taxes paid, net 2,479 9,927
Other non-cash changes:    
Real estate owned acquired in settlement of loans $ 250 $ 30