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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 10,256 $ 9,198
Adjustments to reconcile net income to net cash provided by operating activities:    
Net decrease in deferred loan costs 5,948 208
Depreciation 915 663
Accretion (530) (377)
Amortization 3,848 4,531
Stock-based compensation 184 233
Provision for (reversal of) credit losses 50 (250)
Net realized gains on sales of available-for-sale investment securities (897) (2,639)
Decrease in fair value of equity securities 42 0
Increase in bank-owned life insurance, net of expenses (347) (300)
Net gain on sale of credit card portfolio (578) 0
Net decrease in accrued interest receivable and other assets 3,332 2,957
Net decrease in accrued interest payable and other liabilities (1,773) (632)
Benefit for deferred income taxes 180 812
Net cash provided by operating activities 20,630 14,404
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale investment securities (116,785) (72,010)
Proceeds from sales or calls of available-for-sale investment securities 131,617 75,007
Proceeds from maturity and principal repayments of available-for-sale investment securities 23,668 23,372
Proceeds from sale of credit card portfolio 2,954 0
Net increase in loans (42,515) (12,348)
Purchases of premises and equipment (649) (422)
Net cash (used in) provided by investing activities (1,710) 13,599
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net decrease in demand, interest bearing and savings deposits (84,636) (99,325)
Net (decrease) increase in time deposits (16,840) 88,737
Proceeds from short-term borrowings from Federal Home Loan Bank 502,000 0
Repayments of short-term borrowings to Federal Home Loan Bank (472,000) 0
Repayments of borrowings from other financial institutions 0 (400)
Proceeds from stock issued under employee stock purchase plan 88 0
Proceeds from exercise of stock options 639 466
Cash dividend payments on common stock (1,924) (1,464)
Net cash used in financing activities (72,673) (11,986)
(Decrease) increase in cash and cash equivalents (53,753) 16,017
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 100,383 38,568
CASH AND CASH EQUIVALENTS AT END OF PERIOD 46,630 54,585
Cash paid during the period for:    
Interest 688 576
Income taxes $ 1,080 $ 870