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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income $ 45,353 $ 29,220
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 25,570 2,799
Depreciation and amortization 6,575 5,225
Accretion and amortization 3,166 252
Other (gains) losses, net (2,539) 40
Net gain on sales of loans (63,531) (23,521)
Proceeds from sales of loans held for sale 1,434,173 652,216
Loans originated for sale (1,442,913) (640,680)
Earnings on bank-owned life insurance (1,334) (1,293)
Stock based compensation 1,272 853
Change in valuation of mortgage servicing rights 2,834 548
Net change in:    
Accrued interest receivable and other assets (4,610) 321
Accrued expenses and other liabilities 1,611 4,504
Net cash from operating activities 5,627 30,484
Activity in securities available for sale:    
Purchases (279,727) (489,032)
Sales 94,514 52,495
Maturities, prepayments, and calls 114,850 139,255
Loan originations and principal collections, net (84,991) 5,572
Cash paid for acquisition (687) 0
Net cash received in business combinations 0 78,171
Goodwill adjustment related to litigation settlement 460 0
Purchases of premises and equipment, net (3,310) (3,997)
Proceeds from sales of premises and equipment 222 208
Proceeds from sales of foreclosed assets 2,441 3,835
Net cash from investing activities (156,228) (213,493)
Cash flows from financing activities:    
Net change in deposits 277,494 33,227
Net change in short-term borrowings (10,615) 19,460
Proceeds from common stock issuance, net 0 51,392
Proceeds from subordinated debt issuance, net 49,070 0
Payments to tax authorities for stock-based compensation (319) (351)
Proceeds from notes payable and other borrowings 75,000 0
Payments made on notes payable and other borrowings (95,000) (7,530)
Cash dividends on common stock (2,528) (1,079)
Payments to repurchase common stock (293) 0
Net cash from financing activities 292,809 95,119
Net change in cash and cash equivalents 142,208 (87,890)
Beginning cash and cash equivalents 158,099 245,989
Ending cash and cash equivalents 300,307 158,099
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 16,116 28,125
Income taxes paid 13,513 6,474
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 1,867 2,452
Business combination measurement period adjustment 1,211 0
Additions to mortgage servicing rights $ 9,829 $ 1,332