v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income $ 24,301 $ 16,403 $ 14,002
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment 1,269 1,120 1,030
Amortization of net premiums on securities 790 818 711
Net accretion of deferred loan costs (fees) (515) (559) (639)
Amortization of servicing assets 2,765 2,233 2,055
Provision for loan losses 1,231 1,827 2,283
Deferred tax expense 641 1,733 39
Share-based compensation 648 699 717
Gain on sale of securities 0 0 (8)
Gain on sale of loans (5,560) (9,000) (8,912)
Originations of loans held-for-sale (99,864) (143,119) (145,446)
Proceeds from sales of and principal collected on loans held-for-sale 106,282 151,972 176,313
Change in accrued interest receivable and other assets (1,362) (243) (4,733)
Change in accrued interest payable and other liabilities 4,454 800 2,785
Net cash provided by operating activities 35,080 24,684 40,197
Cash flows from investing activities:      
Purchase of securities available-for-sale (41,965) (66,866) (20,399)
Proceeds from sale of securities available-for-sale 0 0 4,717
Proceeds from sales and calls of securities available-for-sale 23,374 18,558 16,929
Purchase of securities held-to-maturity (2,075) (6,106) (2,611)
Proceeds from maturities, calls, and paydowns of securities held-to-maturity 1,289 2,481 2,193
Proceeds from sale of loans held-for-investment 8,254 0 0
Net increase in loans held-for-investment (159,510) (165,154) (212,036)
Purchase of Federal Home Loan Bank stock (844) (903) (764)
Proceeds from sale of other real estate owned 102 291 0
Purchases of premises and equipment (1,140) (1,281) (1,981)
Net cash used in investing activities (172,515) (218,980) (213,952)
Cash flows from financing activities:      
Net increase in deposits 192,463 159,478 152,373
Proceeds from long-term Federal Home Loan Bank advances 0 40,000 0
Repayment of long-term Federal Home Loan Bank advances (10,000) 0 0
Stock options exercised 310 134 569
Stock issued under stock offering, net of expenses 45,037 0 15,194
Cash dividends paid on common stock (1,760) (1,609) (1,380)
Net cash provided by financing activities 226,050 198,003 166,756
Net increase (decrease) in cash and cash equivalents 88,615 3,707 (6,999)
Cash and cash equivalents at beginning of year 73,658 69,951 76,950
Cash and cash equivalents at end of year 162,273 73,658 69,951
Supplemental disclosures of cash flow information:      
Interest paid 13,979 9,465 6,872
Income taxes paid 7,568 12,056 11,582
Supplemental disclosures of non-cash investment activities:      
Loans transferred to loans held-for-sale 8,062 0 22,051
Loans transferred to other real estate owned $ 0 $ 0 $ 506