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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES:    
Net income $ 1,373 $ 11,425
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 771 741
Amortization of premium and accretion of discount on securities, net 684 251
Amortization of restricted stock 1,541 1,390
Amortization of intangible assets 324 229
Amortization of subordinated debt costs 56 56
Provision for loan and lease losses 20,000 100
Deferred tax benefit (3,520) (4,105)
Stock-based compensation and employee stock purchase plan expense 41 45
Fair value adjustment for equity security (198) (59)
Loans originated for sale [1] (30,247) (10,030)
Proceeds from sales of loans held for sale [1] 31,095 9,298
Gain on loans held for sale [1] (1,346) (466)
Loss on loans held for sale at lower of cost or fair value 3  
Increase in cash surrender value of life insurance, net (181) (201)
Increase in accrued interest receivable (1,310) (874)
(Increase)/decrease in other assets (7,528) 16,412
(Decrease)/increase in accrued expenses and other liabilities (4,174) 7,674
NET CASH PROVIDED BY OPERATING ACTIVITIES 7,384 31,886
INVESTING ACTIVITIES:    
Principal repayments, maturities and calls of securities available for sale 31,037 49,056
Redemptions of FHLB and FRB stock 12,072 135
Purchase of securities available for sale (24,852) (53,483)
Purchase of equity securities (3,000)  
Purchase of FHLB and FRB stock (28,875) (62)
Proceeds from sales of loans held for sale at lower of cost or fair value 10,067  
Net (increase)/decrease in loans, net of participations sold (13,761) 32,949
Purchase of premises and equipment (914) (173)
NET CASH (USED IN)/PROVIDED BY INVESTING ACTIVITIES (18,226) 28,422
FINANCING ACTIVITIES:    
Net increase in deposits 197,722 23,866
Net increase in short-term borrowings 386,900  
Repayments of Federal Home Loan Bank advances   (3,000)
Dividends paid on common stock (949) (967)
Exercise of Stock Options, net of stock swaps 75 4
Restricted stock repurchased on vesting to pay taxes (601) (964)
Issuance of shares for employee stock purchase plan   294
Purchase of treasury shares (6,487)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 576,660 19,233
Net increase in cash and cash equivalents 565,818 79,541
Cash and cash equivalents at beginning of period 208,185 160,773
Cash and cash equivalents at end of period 774,003 240,314
Cash paid during the year for:    
Interest 12,424 12,993
Income tax, net 206 $ 265
Securities purchase settled in subsequent period $ 10,885  
[1] Includes mortgage loans originated with the intent to sell which are carried at fair value. In addition, this includes the guaranteed portion of SBA loans which are carried at the lower of cost or fair value.