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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income $ 10,894 $ 17,556
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net (2,291) 105
Impairment of Tax Credit Investments 2,066 3,982
Provision for loan and lease losses 12,487 613
SBA recourse provision 53 167
Depreciation, amortization and accretion, net 2,509 2,252
Share-based compensation 1,432 1,118
Net loss on sale of securities (4) (5)
Gain on Sale of State Tax Credit 0 (206)
Increase in bank-owned life insurance policies (1,037) (894)
Origination of loans held for sale 56,923 39,799
Sale of loans originated for sale 48,676 43,009
Gain on sale of SBA loans (1,598) (993)
Net loss on foreclosed properties, including impairment valuation (329) (241)
Loan servicing right impairment valuation (3) 25
Excess tax benefit from share-based compensation (35) (74)
Payments on operating leases (1,166) (1,143)
Payments received on operating leases 84 0
Net increase in accrued interest receivable and other assets 52,492 24,918
Net increase in accrued interest payable and other liabilities 42,429 19,710
Net cash provided by operating activities 5,418 20,756
Investing activities    
Proceeds from maturities, redemptions, and paydowns of available-for-sale securities 40,353 21,225
Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities 3,759 4,282
Proceeds from sale of available-for-sale securities 839 15,249
Purchases of available-for-sale securities (43,751) (55,608)
Proceeds from sale of foreclosed properties 2,057 0
Net increase in loans and leases (456,933) (104,229)
Investments in limited partnerships 750 1,250
Returns of investments in limited partnerships 0 1,499
Investment in historic development entities (259) (4,505)
Distribution from historic development entities 30 0
Investment in Federal Home Loan Bank stock (13,422) (4,700)
Proceeds from the sale of Federal Home Loan Bank stock 6,222 3,625
Purchases of leasehold improvements and equipment, net (204) (108)
Purchases of bank-owned life insurance policies 8,000 0
Net cash used in investing activities (470,059) (124,520)
Financing activities    
Net increase in deposits 290,996 53,517
Proceeds from Federal Home Loan Bank advances 979,200 435,000
Repayment of Federal Home Loan Bank advances (845,444) (401,000)
Loss on early extinguishment of debt 744 0
Repayment of subordinated notes payable 0 (15,000)
Proceeds from Issuance of Subordinated Long-term Debt 0 15,000
Proceeds from the Federal Reserve Paycheck Protection Program Lending Facility 29,605 0
Net increase (decrease) in long-term borrowed funds 41 (36)
Cash dividends paid (4,239) (3,925)
Purchase of treasury stock (1,636) (5,380)
Net cash provided by financing activities 449,267 78,176
Net decrease in cash and cash equivalents (15,374) (25,588)
Cash and cash equivalents at the beginning of the period 67,102 86,546
Cash and cash equivalents at the end of the period 51,728 60,958
Cash paid during the period for:    
Interest paid on deposits and borrowings 15,223 25,828
Income taxes paid 3,436 1,303
Non-cash investing and financing activities:    
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 190 0
Transfer from loans and leases to foreclosed properties $ 80 $ 596