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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities    
Net income $ 11,203 $ 10,858
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation 847 821
Provision for loan losses (1,246) (765)
Forfeiture of common stock (34) (8)
Compensation expensed through issuance of common stock 108 91
Provision for deferred income taxes 454 303
Net gain on sale of other real estate owned and other repossessed assets (11) (2)
Increase in accrued interest receivable (2,186) (593)
Amortization of premium on investment securities, net 100 134
Decrease (increase) in other assets 426 (86)
Decrease in accrued interest payable and other liabilities (955) (1,465)
Loans originated for sale (29,847) (31,571)
Proceeds on sales of loans 26,850 31,480
Net gain on sales of loans (286) (331)
Net cash and cash equivalents provided by operating activities 5,423 8,866
Cash Flows from Investing Activities    
Proceeds from maturities of investment securities available for sale 10,251 10,711
Purchases of investment securities available for sale (12,143) (25,856)
Loans made to customers, net of collections (15,208) 7,953
Proceeds on sale of other real estate owned and other repossessed assets 62 2
Purchases of property and equipment (427) (651)
Income from tax credit real estate, net 262 390
Net cash and cash equivalents used in investing activities (17,203) (7,451)
Cash Flows from Financing Activities    
Net increase in deposits 175,768 153,212
Net decrease in FHLB borrowings 0 (60,000)
Issuance of common stock, net of costs 5,026 4,713
Purchase of treasury stock (4,291) (2,694)
Proceeds from the issuance of common stock through the employee stock purchase plan 105 100
Dividends paid (7,657) (7,002)
Net cash and cash equivalents provided by financing activities 168,951 88,329
Increase in cash and cash equivalents 157,171 89,744
Cash and cash equivalents:    
Beginning of period 43,305 154,353
End of period 200,476 244,097
Cash payments for:    
Interest paid to depositors 6,260 3,844
Interest paid on other obligations 1,575 1,874
Income taxes paid 0 0
Noncash activities:    
Increase in maximum cash obligation related to ESOP shares 981 2,471
Transfers to other real estate owned 51 62
Right-of-use assets obtained in exchange for operating lease obligations $ 3,581 $ 0