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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net income $ 11,635 $ 4,251
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 814 775
Provision for loan losses 4,500 17,800
Amortization of intangibles 364 169
Net accretion of loans (963) (179)
Accretion on bank premises (21) (16)
Accretion on deposits (328) (15)
Amortization (accretion) on borrowings, net 58 (45)
Stock-based compensation 828 (370)
Gains on sales of securities available-for-sale, net [1] (8)
(Gains) losses on equity securities, net (103) 121
Gains on sale of loans held-for-sale, net (19) (17)
Loans originated for resale (1,497) (1,045)
Proceeds from sale of loans held-for-sale 1,148 1,145
Increase in cash surrender value of bank owned life insurance (822) (189)
Amortization of premiums and accretion of discounts on securities available-for-sale 683 1,045
Amortization of subordinated debt issuance costs 82 86
Increase in accrued interest receivable (550) (550)
Net change in operating leases 1,408
Decrease (increase) in other assets 3,723 (2,269)
Decrease in other liabilities (7,933) (464)
Net cash provided by operating activities 12,999 20,233
Securities available-for-sale:    
Purchases (107,405) (46,333)
Sales 94,075
Maturities, calls and principal repayments 35,371 39,503
Net purchases of restricted investment in bank stocks (591) (1,125)
Payments on loans held-for-sale 112
Net increase in loans (70,278) (69,837)
Purchases of premises and equipment (257) (139)
Cash and cash equivalents acquired in acquisition 13,741
Net cash used in investing activities (35,344) (77,819)
Cash flows from financing activities    
Net increase (decrease) in deposits 86,124 (45,526)
Increase in subordinated debentures 73,525
Advances of Federal Home Loan Bank ("FHLB") borrowings 420,000 435,000
Repayments of FHLB borrowings (480,833) (410,000)
Cash dividends paid on common stock (2,657) (2,410)
Repurchase of treasury stock (250)
Proceeds from exercise of stock options 143 202
Net cash provided by financing activities 22,527 50,791
Net change in cash and cash equivalents 182 (6,795)
Cash and cash equivalents at beginning of period 172,366 149,582
Cash and cash equivalents at end of period 172,548 142,787
Cash payments for:    
Interest paid on deposits and borrowings 22,340 10,927
Income taxes 1,223
Investing:    
Transfer of loans to other real estate owned 538
Transfer of loans from held-for-investment to held-for-sale 24,236
Business combination:    
Fair value of assets acquired, net of cash and cash equivalents 534,166
Fair value of liabilities assumed $ 488,475
[1] Not within scope of ASC 606