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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES:    
Net income $ 9,615 $ 22,975
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,543 1,523
Amortization of premium and accretion of discount on securities, net 1,667 613
Amortization of restricted stock 3,264 2,865
Amortization of intangible assets 645 458
Amortization of subordinated debt costs 112 112
Provision for loan and lease losses 24,900 1,250
Deferred tax expense/(benefit) 483 (620)
Stock-based compensation and employee stock purchase plan expense 190 75
Fair value adjustment for equity security (323) (128)
Loans originated for sale [1] (67,539) (22,531)
Proceeds from sales of loans held for sale [1] 65,345 23,166
Gain on loans held for sale [1] (2,154) (1,171)
Loss on loans held for sale at lower of cost or fair value 3  
Increase in cash surrender value of life insurance, net (351) (391)
Increase in accrued interest receivable (5,462) (780)
Decrease in other assets 802 8,548
(Decrease)/increase in accrued expenses and other liabilities (11,641) 8,044
NET CASH PROVIDED BY OPERATING ACTIVITIES 21,099 44,008
INVESTING ACTIVITIES:    
Principal repayments, maturities and calls of securities available for sale 85,946 96,230
Redemptions of FHLB and FRB stock 34,573 279
Purchase of securities available for sale (228,768) (92,587)
Purchase of equity securities (4,000)  
Purchase of FHLB and FRB stock (29,103) (84)
Proceeds from sales of loans held for sale at lower of cost or fair value 10,067  
Net increase in loans, net of participations sold (496,481) (98,986)
Purchase of premises and equipment (1,705) (554)
NET CASH USED IN INVESTING ACTIVITIES (629,471) (95,702)
FINANCING ACTIVITIES:    
Net increase in deposits 608,327 200,315
Net decrease in short-term borrowings (113,100)  
Proceeds from Paycheck Protection Program Liquidity Facility 535,837  
Repayments of Federal Home Loan Bank advances   (3,000)
Dividends paid on common stock (1,887) (1,940)
Exercise of Stock Options, net of stock swaps 76 22
Restricted stock repurchased on vesting to pay taxes (643) (981)
Issuance of shares for employee stock purchase plan 891 532
Purchase of treasury shares (6,487)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,023,014 194,948
Net increase in cash and cash equivalents 414,642 143,254
Cash and cash equivalents at beginning of period 208,185 160,773
Cash and cash equivalents at end of period 622,827 304,027
Cash paid during the year for:    
Interest 23,380 29,954
Income tax, net 551 $ 843
Transfer of loans to loans held for sale $ 25,423  
[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.