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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 6,579 $ 14,939  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,356 1,427  
Deferred taxes (2,037) 2,008  
Stock-based compensation 228 200  
Provision for credit losses 12,707 [1] 190 $ 4,819
Write-downs of other real estate owned and other repossessed assets 458 489  
Gains on sale of mortgage loans held for sale (483) (330)  
Securities gains, net (481) (1)  
Change in fair market value of equity securities 232 (355)  
Gains on sale of assets, net (3) (51)  
Proceeds from sale of mortgage loans held for sale 23,032 14,927  
Funding of mortgage loans held for sale (22,785) (25,785)  
Amortization of securities premiums and discounts, net 1,271 1,112  
Change in cash surrender value of bank owned life insurance (340) (357)  
Payment of operating lease liabilities (444) 0  
Mortgage servicing rights:      
Fair value adjustments 926 (116)  
New servicing assets created (144) 333  
Changes in:      
Accrued interest receivable 156 683  
Other assets (1,173) 6,399  
Accrued interest payable 608 (1,081)  
Other liabilities (5,939) (2,541)  
Net cash provided by operating activities 13,724 12,090  
Certificates of deposit in other banks:      
Maturity of certificates of deposit 0 2,450  
Securities available-for-sale (AFS):      
Purchase of AFS securities (126,748) (59,583)  
Proceeds from the sales of AFS securities 21,746 12,550  
Proceeds from prepayments and maturities of AFS securities 72,243 46,491  
Securities held-to-maturity (HTM):      
Proceeds from maturities of HTM securities 517 30  
Change in loans, net (41,183) 18,755  
Purchase of premises and equipment (423) (226)  
Redemption of stock by Federal Home Loan Bank 0 2,452  
Investment in Federal Home Loan Bank stock (880) 0  
Proceeds from sale of other real estate owned and repossessed assets 116 964  
Net cash provided by (used in) investing activities (74,612) 23,883  
Cash flows from financing activities:      
Change in deposits, net (10,464) 77,153  
Change in repurchase agreements and federal funds purchased, net 6,992 5,414  
Proceeds from Federal Home Loan Bank advances 25,000 30,000  
Payments on advances from Federal Home Loan Bank (25,004) (30,005)  
Payment of finance lease liabilities (3) 0  
Issuance of common stock 232 258  
Repurchase of common stock (1,099) 0  
Dividends paid (6,747) (6,383)  
Net cash provided by (used in) financing activities (11,093) 76,437  
Net increase (decrease) in cash and cash equivalents (71,981) 112,410  
Cash and cash equivalents at beginning of period 264,683 141,450 141,450
Cash and cash equivalents at end of period 192,702 253,860 $ 264,683
Supplemental disclosures:      
Interest paid 7,848 8,830  
Non-cash activities:      
Loans to facilitate the sale of other real estate owned and repossessed assets 718 1,797  
Common stock dividends accrued, paid in subsequent quarter 224 215  
Real estate acquired in settlement of loans $ 1,625 $ 854  
[1] *Effective January 1, 2020, the provision for loan losses became the provision for credit losses with the implementation of ASU 2016-13, commonly referred to as CECL.