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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 12,698 $ 10,853
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 19,367 1,483
Depreciation and amortization 3,257 2,474
Accretion and amortization 1,130 (296)
Other gains, net (2,441) (149)
Net gain on sales of loans (26,337) (10,895)
Proceeds from sales of loans held for sale 567,294 274,021
Loans originated for sale (584,696) (263,676)
Earnings on bank-owned life insurance (674) (622)
Stock based compensation 341 142
Net change in:    
Accrued interest receivable and other assets (16,859) 45
Accrued expenses and other liabilities 18,340 8,279
Net cash from operating activities (8,580) 21,659
Activity in securities available for sale:    
Purchases (121,254) (11,233)
Sales 94,514 0
Maturities, prepayments, and calls 30,588 93,478
Loan originations and principal collections, net (193,060) 19,940
Cash paid for acquisition (687) 0
Purchases of premises and equipment, net (2,402) (2,406)
Proceeds from sales of premises and equipment 87 74
Proceeds from sales of foreclosed assets 1,689 1,244
Net cash from investing activities (190,525) 101,097
Cash flows from financing activities:    
Net change in deposits 250,980 4,404
Net change in short-term borrowings (27,600) (8,895)
Proceeds from common stock issuance, net 0 51,392
Proceeds from notes payable & other borrowings 75,000 0
Payments to tax authorities for stock-based compensation (129) 0
Payments made on notes payable and other borrowings 0 (7,530)
Cash dividends on common stock (1,083) 0
Purchase of treasury stock (61) 0
Net cash from financing activities 297,107 39,371
Net change in cash and cash equivalents 98,002 162,127
Beginning cash and cash equivalents 158,099 245,989
Ending cash and cash equivalents 256,101 408,116
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 9,623 14,866
Income taxes paid 0 2,853
Supplemental schedule of noncash investing and financing activities:    
Loans transferred to foreclosed assets 1,088 1,166
Share-based liability awards modified to equity awards $ 0 $ 11,450