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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 $ 31,065 $ 23,669
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses - loans 3,060 1,771
Provision for credit losses - securities AFS 2,371  
Stock-based compensation expense 1,195 989
Depreciation and amortization 1,547 1,480
Deferred tax expense 1,462 685
Amortization of core deposit intangible 1,010 1,228
Amortization of mortgage servicing rights - net 705 320
Amortization of premiums on purchased loans - net (4,169) (3,889)
Gain on sale of REO   (263)
Gain from hedging activities (224) (355)
Increase in other assets (11,266) (1,339)
Decrease in accounts payable and other liabilities 1,322 (460)
Net cash provided by operating activities 28,078 23,836
Cash Flows from Investing Activities:    
Net increase in loans (594,872) (434,209)
Proceeds from sale of REO   613
Purchase of premises and equipment (1,380) (1,181)
Recovery of allowance for credit losses 564 363
Purchases of AFS securities (6,757) (400)
Maturities of AFS securities 155,376 46,957
Sale (purchases) of FHLB stock, net (2,079) 1,083
Net cash used in investing activities (449,148) (386,774)
Cash Flows from Financing Activities:    
Increase in deposits 756,697 210,974
Net increase in FHLB advances 21,600 159,000
Line of credit net change - borrowings (paydowns), net   15,000
Dividends paid (6,256) (4,462)
Proceeds from sale of stock, net 645 135
Repurchase of stock (2,824) (24)
Net cash provided by financing activities 769,862 380,623
Increase (decrease) in cash and cash equivalents 348,792 17,685
Cash and cash equivalents at beginning of year 65,387 67,312
Cash and cash equivalents at end of period 414,179 84,997
Supplemental disclosures of cash flow information:    
Income taxes 185 8,784
Interest 30,289 37,456
Noncash transactions:    
Transfer of loans to loans held for sale 14,666 101,444
Chargeoffs against allowance for credit losses $ 1,055 $ 934