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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities, net of effects of acquisitions:      
Net income $ 27,932 $ 31,590 $ 16,824
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 3,014 3,943 2,317
Depreciation 2,875 2,504 1,959
Amortization of Acquisition Costs and Intangible Assets 5,880 8,288 6,635
Net amortization of mortgage servicing asset 111 151 200
Federal Home Loan Bank stock dividends (156) (125) (109)
Net amortization of premium on investments 2,342 2,027 1,717
Gain on sale of loans, net (1,074) (872) (1,196)
Proceeds, including principal payments, from loans held for sale 123,065 98,471 123,321
Originations of loans held for sale (126,895) (93,812) (123,842)
Non-cash compensation 2,414 2,540 2,135
Deferred income tax expense 137 2,137 2,512
Impact of Tax Cuts and Jobs Act on deferred taxes 0 0 2,721
Decrease (increase) in accrued interest receivable and other assets 58 (8,970) (3,497)
Increase in cash surrender value of bank-owned life insurance (874) (656) (494)
Increase (decrease) in accrued interest payable and other liabilities 5,109 (88) (6,451)
Net cash provided by operating activities 43,938 47,128 24,752
Cash flows from investing activities, net of effects of acquisitions:      
Purchases of securities available for sale (68,523) (78,462) (56,997)
Proceeds from maturities, prepayments and calls on securities available for sale 72,865 50,280 39,606
Proceeds from maturities, prepayments and calls on securities held to maturity 3,517 1,855 0
Proceeds from Sale of Debt Securities, Available-for-sale 0 0 17,040
(Increase) decrease in loans, net (73,680) (2,177) 4,040
Reimbursement from FDIC for covered assets 142 26 142
Decrease in interest-bearing deposits in banks 490 1,482 693
Proceeds from sale of foreclosed assets 1,825 731 2,847
Purchases of office properties and equipment (3,840) (5,010) (1,915)
Proceeds from sale of office properties and equipment 54 1,051 827
Purchase of bank-owned life insurance (10,000) 0 0
Proceeds from bank-owned life insurance 2,163 0 0
Cash received in excess of cash paid in business combination 0 0 68,212
Proceeds from redemption of Federal Home Loan Bank stock 2,658 0 4,180
Investment in new market tax credit 0 5,539 0
Net cash (used in) provided by investing activities (72,329) (24,685) 78,675
Cash flows from financing activities, net of effects of acquisitions:      
Increase (decrease) in deposits, net 47,715 (93,106) 84,657
Borrowings on Federal Home Loan Bank advances 6,010 3,000 130,750
Repayments of Federal Home Loan Bank advances (24,150) (16,221) (194,783)
Proceeds from exercise of stock options 2,231 914 1,193
Issuance of stock under incentive plans 157 70 (1)
Dividends paid to shareholders (7,898) (6,706) (4,070)
Purchase of Company’s common stock (15,445) (1,194) (70)
Net cash provided by (used in) financing activities 8,620 (113,243) 17,676
Net change in cash and cash equivalents (19,771) (90,800) 121,103
Cash and cash equivalents at beginning of year 59,618 150,418 29,315
Cash and cash equivalents at end of year 39,847 59,618 150,418
Supplementary cash flow information:      
Interest paid on deposits and borrowed funds 16,072 10,391 6,549
Income taxes paid 3,174 5,075 10,053
Noncash investing and financing activities:      
Acquisition of assets in settlement of loans 4,361 1,816 535
Common stock issued in consideration of St. Martin Bancshares, Inc. 0 0 82,960
Assets acquired and liabilities assumed in acquisitions:      
Assets acquired in acquisitions 0 0 592,896
Liabilities assumed in acquisitions $ 0 $ 0 $ 559,202