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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 7,059,000 $ 2,817,000
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation, amortization and accretion 443,000 250,000
Deferred income taxes 85,000 8,000
Provision for loan losses 4,075,000 895,000
Proceeds from sale of loans held for sale, originated 315,200,000 143,623,000
Gain on sale of loans held for sale, originated (12,539,000) (5,161,000)
Loans held for sale, originated (392,926,000) (159,240,000)
Loss on disposal of premises and equipment 4,000 2,000
Loss on sale of other real estate owned   33,000
Non-cash equity compensation, net 149,000 92,000
Investment amortization expense, net 559,000 161,000
Amortization of subordinated debt issuance costs 20,000 16,000
Amortization of other intangibles 347,000 233,000
Earnings on life insurance (185,000) (815,000)
Decrease in Goodwill 23,000  
Increase in other assets (16,863,000) (11,254,000)
Increase in accrued expenses 10,057,000 8,608,000
Net cash used in operating activities (84,492,000) (19,732,000)
Cash flows used in investing activities:    
Net (increase) decrease in federal funds sold 28,000 64,000
Purchase of securities available for sale (8,434,000) (95,743,000)
Proceeds from securities available for sale 22,276,000 4,523,000
Proceeds from securities held for investment 1,210,000 300,000
Purchase of insurance policies   (600,000)
Redemption of insurance policies   1,058,000
Net change in restricted equity securities (1,389,000) (3,138,000)
Net increase in loans held for investment (375,073,000) (37,783,000)
Net (increase) decrease in loans held for sale, participations 18,115,000 (11,964,000)
Purchase of premises and equipment (2,212,000) (285,000)
Proceeds from sale of premises and equipment 6,000 13,000
Capital calls of SBIC funds and other investments (211,000) (235,000)
Nonincome distributions from limited liability companies 2,000 106,000
Net cash used in investing activities (345,682,000) (143,684,000)
Cash flows from financing activities:    
Net increase in deposits 243,826,000 83,956,000
Common stock dividends paid (806,000) (1,247,000)
Federal Home Loan Bank advances 311,900,000 171,100,000
Federal Home Loan Bank repayments (312,700,000) (106,000,000)
Federal Reserve PPPLF advances 354,412,000  
Issuance of subordinated debt 15,000,000  
Payment of subordinated debt issuance costs (348,000)  
Issuance of common stock   22,145,000
Net cash provided by financing activities 611,284,000 169,954,000
Net increase in cash and due from banks 181,110,000 6,538,000
Cash and due from banks at beginning of period 60,026,000 15,026,000
Cash and due from banks at end of period 241,136,000 21,564,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 5,056,000 $ 3,796,000
Noncash item - transfer of held to maturity securities to available for sale $ 10,980,000