Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income [1] $ 35,631 $ 16,639
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:    
Depreciation of premises and equipment [1] 3,638 3,480
Writedown of foreclosed properties and former bank premises [1] 52 759
Amortization, net [1] 4,780 3,776
Amortization (accretion) related to acquisitions, net [1] (1,624) (2,691)
Provision for credit losses [1] 3,792 3,500
Gains on securities transactions, net [1] (151) (213)
BOLI income [1] (2,055) (1,667)
Decrease (increase) in loans held for sale, net [1] (7,485) 12,935
Losses (gains) on sales of foreclosed properties and former bank premises, net [1] 47 (174)
Stock-based compensation expenses [1] 1,870 1,223
Issuance of common stock for services [1] 219 184
Net decrease (increase) in other assets [1] (17,681) (18,216)
Net increase in other liabilities [1] (7,943) 16,228
Net cash and cash equivalents provided by (used in) operating activities [1] 13,090 35,763
Investing activities:    
Purchases of AFS securities and restricted stock (146,193) (154,512)
Purchases of HTM securities (47,217) 0
Proceeds from sales of AFS securities and restricted stock 208,249 115,850
Proceeds from maturities, calls and paydowns of AFS securities 53,439 33,909
Proceeds from maturities, calls and paydowns of HTM securities 1,320 0
Net increase in loans held for investment (81,391) (201,369)
Net increase in premises and equipment (1,460) (902)
Proceeds from sales of foreclosed properties and former bank premises 171 1,157
Cash paid in acquisitions (12) (6,170)
Cash acquired in acquisitions 46,164 174,218
Net cash and cash equivalents provided by (used in) investing activities 33,070 (37,819)
Financing activities:    
Net increase in noninterest-bearing deposits 185,099 43,846
Net increase in interest-bearing deposits 106,490 93,540
Net increase (decrease) in short-term borrowings (295,008) 24,441
Cash dividends paid - common stock (18,838) (13,808)
Cancellation of warrants 0 (1,530)
Issuance of common stock 138 927
Vesting of restricted stock, net of shares held for taxes (1,647) (2,270)
Net cash and cash equivalents provided by (used in) financing activities (23,766) 145,146
Increase (decrease) in cash and cash equivalents 22,394 143,090
Cash and cash equivalents at beginning of the period 261,199 199,373
Cash and cash equivalents at end of the period 283,593 342,463
Cash payments for:    
Interest 34,871 18,011
Income taxes 0 0
Supplemental schedule of noncash investing and financing activities    
Transfers from loans (foreclosed properties) to foreclosed properties (loans) 900  
Transfers from loans (foreclosed properties) to foreclosed properties (loans)   (54)
Issuance of common stock in exchange for net assets in acquisitions 499,974 794,809 [2]
Transactions related to acquisitions    
Assets acquired 2,858,048 3,249,420
Liabilities assumed $ 2,558,638 $ 2,874,018
[1] Discontinued operations have an immaterial impact to the Company's Consolidated Statement of Cash Flows. The change in loans held for sale included in the Operating Activities section for the three months ended March 31, 2018 are fully attributable to discontinued operations
[2] Includes conversion of Xenith warrants to the Company's warrants.