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CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net income $ 16,786 $ 8,330
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 2,881 1,473
Stock–based compensation expense 712 383
Depreciation and amortization 1,338 995
Deferred tax provision 758 (1,068)
Accretion of discounts on purchased loans, net (755) (523)
Gain on sale of loans (7,238) (205)
Gain on sale of capital market activities (1,307)  
Increase in other assets (1,429) (2,076)
Increase (decrease) in accounts payable and other liabilities 1,970 (14)
Net cash provided by operating activities 13,716 7,295
Cash Flows from Investing Activities:    
Net increase in loans (1,008,136) (402,543)
Proceeds from sale of REO 4,442 2,205
Proceeds from sale of loans 270,005  
Purchases of premises and equipment (4,027) (1,142)
Purchases of securities AFS (130,829) (225,396)
Proceeds from sale of securities AFS 104,146  
Maturities / payments – securities AFS 60,715 11,648
Cash acquired in acquisition   38,081
Purchases (net of redemptions) of FHLB stock (4,185) (5,307)
Net cash used in investing activities (707,869) (582,454)
Cash Flows from Financing Activities:    
Increase in deposits 816,561 238,732
FHLB Advances – net increase 155,000 397,000
Proceeds – term note   10,114
Principal payments – term note   (30,000)
Proceeds from sale of stock, net 3,657 135,959
Net cash provided by financing activities 975,218 751,805
Increase in cash and cash equivalents 281,065 176,646
Cash and cash equivalents at beginning of year 215,748 29,692
Cash and cash equivalents at end of period 496,813 206,338
Supplemental disclosures of cash flow information:    
Interest 7,334 4,444
Income taxes 10,050 7,650
Noncash transactions:    
Recoveries (net of chargeoffs) added to allowance for loans losses 119 323
Transfer of loans to REO 950  
Transfer of loans to loans held for sale 468,743 $ 113,325
Mortgage servicing rights created from sale of loans $ 1,945