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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income $ 7,510 $ 13,249
Adjustments to reconcile net income to cash provided by (used for) operating activities:    
Provision for loan losses 16,200 600
Depreciation and other amortization 1,059 913
Accretion and amortization of securities discounts and premium, net 273 182
Net change in operating leases 112 492
Compensation expense related to stock options and restricted stock grants 719 825
Gain on sale of loans held for sale (8,031) (4,411)
Loans originated and held for sale (254,492) (154,785)
Proceeds from sale of loans held for sale 245,400 143,928
Increase in cash surrender value of bank owned life insurance (540) (438)
Increase in deferred tax asset (35) (3,323)
Increase in other assets (6,975) (774)
Increase in other liabilities 880 3,481
Net cash provided by (used for) operating activities 2,080 (61)
Increase (decrease) in cash realized from:    
Increase in loans, net (94,516) (132,241)
Purchase of property and equipment (2,641) (2,104)
Purchase of investment securities:    
Available for sale (11,373) (5,115)
Other (1,275)
Payments and maturities, calls and repayments of investment securities:    
Available for sale 9,193 5,991
Other investments 5,614 810
Purchase of life insurance policies (5,000)
Net cash used for investing activities (94,998) (137,659)
Increase (decrease) in cash realized from:    
Increase in deposits, net 312,519 205,872
Decrease in Federal Home Loan Bank advances and other borrowings, net (109,973) (25,000)
Proceeds from the exercise of stock options 962 759
Net cash provided by financing activities 203,508 181,631
Net increase in cash and cash equivalents 110,590 43,911
Cash and cash equivalents at beginning of the period 127,816 72,873
Cash and cash equivalents at end of the period 238,406 116,784
Cash paid for    
Interest 11,008 12,063
Income taxes 3,323
Schedule of non-cash transactions    
Unrealized gain on securities, net of income taxes 1,103 1,110
Right-of-use assets obtained in exchange for lease obligations:    
Operating leases $ 2,115 $ 15,395