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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 13,599 $ 11,234
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 900 847
Amortization 260 151
Share-based compensation earned 160 99
Share-based board compensation earned 35 52
(Gain) Loss on other assets owned 9 11
Net (accretion) amortization on securities AFS 1,293 566
Gain on sale of securities AFS (1,223) 0
Provision for loan losses 2,028 1,055
Deferred income tax (benefit) expense (292) (263)
Net (increase) decrease in loans HFS (9,489) (3,125)
Net (increase) decrease in accrued interest receivable (1,241) (557)
Net (increase) decrease in BOLI (286) (269)
Net increase (decrease) in accrued interest payable (228) 241
Net increase (decrease) in accrued income taxes payable 3,108 (431)
Other operating activities, net 1,819 (272)
Net cash provided by (used in) operating activities 10,452 9,339
Activity in securities AFS:    
Sales 86,925 0
Maturities, prepayments, and calls 42,076 33,255
Purchases (198,841) (34,893)
Purchase of nonmarketable equity securities (2,091) (43)
Net (increase) decrease in loans HFI (177,480) (65,495)
Proceeds from sales of foreclosed assets 302 333
Purchases of premises and equipment (615) (1,174)
Net cash provided by (used in) investing activities (249,724) (68,017)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase (decrease) in deposits 348,202 (10,993)
Proceeds from other borrowed funds 50,000 0
Repayments of other borrowed funds (50,000) 0
Redemption of junior subordinated debentures 0 (6,186)
Proceeds from exercise of stock options 8 80
Proceeds from initial public offering, net 0 26,812
Cash dividends (879) (1,326)
Net cash provided by (used in) financing activities 347,331 8,387
Net change in cash and cash equivalents 108,059 (50,291)
Cash and cash equivalents - beginning of period 133,292 151,906
Cash and cash equivalents - end of period 241,351 101,615
Cash paid during the year for:    
Interest 4,788 4,817
Income taxes 317 3,323
Initial measurement and recognition of operating lease assets in exchange for lease liabilities 0 4,954
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired in settlement of loans $ 23 $ 792