XML 18 R8.htm IDEA: XBRL DOCUMENT v3.19.1
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 $ 12,927 $ 12,073
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 600 800
Depreciation and amortization of premises and equipment 1,048 933
Net (accretion) and other amortization (287) (1,033)
Net amortization on securities 648 1,302
Increase in cash surrender value of bank owned life insurance (553) (546)
Amortization of intangible assets 213 246
Share based compensation expense 954 784
Increase in accrued interest receivable (1,821) (255)
SBA loans originated for sale (3,188) (4,281)
Proceeds from sale of the guaranteed portion of SBA loans 3,454 4,744
Gain on sale of the guaranteed portion of SBA loans (217) (371)
Decrease in other assets 4,006 1,253
Decrease in accrued expenses and other liabilities (5,619) (479)
Net cash provided by operating activities 12,165 15,170
Cash flows from investing activities:    
Purchases of securities available for sale (40,771) (525)
Purchases of securities, restricted (14,850) (342,405)
Redemption of securities, restricted 10,810 341,559
Maturities, calls and principal payments of securities available for sale 19,270 24,715
Maturities, calls and principal payments of securities held to maturity 10,470 4,558
Net increase in loans (115,341) (98,217)
Purchase of premises and equipment (518) (1,320)
Net cash used in investing activities (130,930) (71,635)
Cash flows from financing activities:    
Net (decrease) increase in deposits (160,921) 96,712
Net decrease in federal funds purchased   (50,000)
Net increase in FHLB advances 89,784 18,787
Net increase (decrease) in repurchase agreements 182 (5)
Net proceeds from issuance of common stock 198 232
Repurchase of surrendered stock from vesting of restricted stock awards (795) (426)
Cash dividends paid (4,594) (4,570)
Net cash (used in) provided by financing activities (76,146) 60,730
Net (decrease) increase in cash and cash equivalents (194,911) 4,265
Cash and cash equivalents at beginning of period 295,368 94,747
Cash and cash equivalents at end of period 100,457 99,012
Cash paid for:    
Interest 11,126 7,963
Income taxes $ 49 261
Non-cash investing and financing activities:    
Transfers from portfolio loans to other real estate owned   $ 175