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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows from Operating Activities:    
Net income $ 8,330 $ 5,388
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,473 235
Stock–based compensation expense 383 387
Depreciation and amortization 995 949
Deferred tax provision (1,068) 487
Accretion of discounts on purchased loans, net (523) (1,581)
Gain on sale of loans (205)  
Gain on sale of REO   (1,038)
Increase in other assets (2,076) (793)
Increase/(decrease) in accounts payable and other liabilities (14) 3,309
Net cash provided by operating activities 7,295 7,343
Cash Flows from Investing Activities:    
Net increase in loans (including changes in loans held for sale) (402,543) (198,383)
Proceeds from sale of loans 2,205  
Proceeds from sale of REO   4,198
Purchase of loan secured by REO property   (1,285)
Purchases of premises and equipment (1,142) (152)
Purchase of securities AFS (225,396) (78,639)
Maturity / sale / payments – securities AFS 11,648 5,115
Cash acquired in acquisition 38,081  
Purchases (net of redemptions) of FHLB stock (5,307) (3,055)
Net cash used in investing activities (582,454) (272,201)
Cash Flows from Financing Activities:    
Increase in deposits 238,732 149,127
FHLB Advances – net increase 397,000 74,000
Proceeds – term note 10,114 15,000
Principal payments – term note (30,000) (1,381)
Proceeds from sale of stock, net 135,959  
Net cash provided by financing activities 751,805 236,746
Increase (decrease) in cash and cash equivalents 176,646 (28,112)
Cash and cash equivalents at beginning of year 29,692 56,954
Cash and cash equivalents at end of period 206,338 28,842
Supplemental disclosures of cash flow information:    
Interest 4,444 3,167
Income taxes 7,650 2,501
Noncash transactions:    
Chargeoffs against allowance for loans losses 323  
Transfer of foreclosed loans to REO   $ 1,834
Transfer of loans to loans held for sale $ 113,325