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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
OPERATING ACTIVITIES    
Net Income $ 10,605,000 $ 5,414,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Net amortization and accretion of investments 689,000 586,000
Net amortization of deferred loan fees 33,000 (110,000)
Provision for loan losses 2,975,000 1,856,000
Depreciation and amortization 2,547,000 1,437,000
Stock based compensation 415,000 308,000
Loans originated for sale (1,205,986,000) (1,047,432,000)
Proceeds of loans sold 1,212,350,000 1,067,793,000
Mortgage fee income (26,850,000) (23,881,000)
Gain on sale of securities (1,084,000) (130,000)
Loss on sale of securities 2,000 0
Gain on sale of portfolio loans (838,000) (1,119,000)
Gain on sale of subsidiary (6,926,000) 0
Income on bank owned life insurance (477,000) (492,000)
Deferred taxes 276,000 118,000
Other, net 3,741,000 799,000
Net cash (used in) provided by operating activities (8,528,000) 5,147,000
INVESTING ACTIVITIES    
Purchases of investment securities available-for-sale (95,497,000) (28,212,000)
Maturities/paydowns of investment securities available-for-sale 13,478,000 15,601,000
Maturities/paydowns of investment securities held-to-maturity 400,000 865,000
Sales of investment securities available-for-sale 55,191,000 12,912,000
Sale of investment securities held to maturity 0 421,000
Purchases of premises and equipment (1,435,000) (1,648,000)
Disposals of premises and equipment from sale of subsidiary 581,000 0
Net increase in loans (44,929,000) (177,798,000)
Purchases of restricted bank stock (18,064,000) (17,431,000)
Redemptions of restricted bank stock 19,489,000 16,977,000
Proceeds from sale of certificates of deposit with banks 6,472,000 248,000
Purchase of certificates of deposit with banks (496,000) (1,491,000)
Proceeds from sale of other real estate owned 83,000 1,132,000
Branch acquisition, net cash acquired 0 48,292,000
Proceeds from sale of subsidiary 7,047,000 0
Net cash used in investing activities (57,680,000) (130,132,000)
FINANCING ACTIVITIES    
Net increase in deposits 114,476,000 126,331,000
Net decrease in repurchase agreements (245,000) (6,111,000)
Net change in short-term FHLB borrowings (47,016,000) 3,335,000
Principal payments on FHLB borrowings (70,000) (2,154,000)
Common stock options exercised 32,000 (448,000)
Cash dividends paid on common stock (484,000) (480,000)
Cash dividends paid on preferred stock (814,000) (430,000)
Net cash provided by financing activities 65,879,000 120,043,000
(Decrease) in cash and cash equivalents (329,000) (4,942,000)
Cash and cash equivalents at beginning of period 29,133,000 30,077,000
Cash and cash equivalents at end of period 28,804,000 25,135,000
Supplemental disclosure of cash flow information:    
Loans transferred to other real estate owned 127,000 174,000
Cashless stock options exercised 16,000 1,180,000
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 8,084,000 8,278,000
Income taxes $ 4,382,000 $ 2,400,000