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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 25,453 $ 16,908
Adjustments to reconcile net income to net cash:    
Net depreciation amortization and accretion 2,383 1,969
Provision for loan losses 2,825 6,556
Employee and non-employee stock-based compensation 2,445 1,754
Net change in deferred loan fees 1,070 48
Income tax expense (benefit) 546 (4)
Gain on sale of available-for-sale securities (609) (3,286)
Stock-based compensation expense 2,445 1,754
Gain on sale of loans   (18)
Dividends earned on CRA fund (14) (23)
Unrealized (gain) loss of equity securities 36 (55)
Net change in:    
Accrued interest receivable (1,175) (2,286)
Accounts payable, accrued expenses and other liabilities (31,047) 11,224
Change in global payments balances 5,371 20,661
Accrued interest payable 1,061 (30)
Receivable from global payments, net (12,832) (19,542)
Prepaid expenses and other assets 2,743 7,960
Net cash provided by operating activities (1,744) 41,836
Cash flows from investing activities:    
Loan originations, purchases and payments, net of recoveries (314,362) (229,646)
Proceeds from loans sold   9,968
Redemptions of other investments 5 6,800
Purchases of other investments (397) (1,094)
Purchases of securities available for sale (382,793) (94,180)
Proceeds from calls of securities available for sale   5,000
Proceeds from sales of securities available for sale 43,241 111,422
Proceeds from paydowns and maturities of securities available for sale 55,327 27,933
Proceeds from paydowns and maturities of securities held to maturity 525 388
Purchase of derivative contract   (2,980)
Purchase of premises and equipment, net (748) (4,353)
Net cash used in investing activities (599,202) (170,742)
Cash flows from financing activities:    
Proceeds from FHLB advances 100  
Repayments of FHLB advances (100) (40,000)
Redemption of common stock for tax withholdings for restricted stock vesting (2,246) (579)
Payments of secured borrowings (515) (1,024)
Net increase in deposits 1,458,667 603,965
Net cash provided by financing activities 1,455,906 562,362
Increase in cash and cash equivalents 854,960 433,456
Cash and cash equivalents at the beginning of the period 864,305 389,220
Cash and cash equivalents at the end of the period 1,719,265 822,676
Cash paid for:    
Interest 6,699 11,189
Income Taxes $ 8,735 $ 3,500