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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 14,588 $ 12,156
Adjustments to reconcile net income to net cash:    
Net depreciation amortization and accretion 928 850
Provision for loan losses (81) 2,747
Net change in deferred loan fees 1,670 940
Gain on sale of loans held for sale   (50)
Stock-based compensation expense 1,278 619
Non-employee stock-based expense 200 220
Deferred income tax benefit   62
Loss on call of securities   37
Dividend earned on marketable equity securities (25)  
Unrealized gain/loss of equity securities (70)  
Net change in:    
Accrued interest receivable (2,288) (28)
Accounts payable, accrued expenses and other liabilities 7,230 (3,567)
Debit card holder balances 8,030 (1,720)
Accrued interest payable 253 270
Accounts receivable, net 2,891 2,674
Receivable from prepaid card programs, net (8,315) 1,990
Prepaid expenses and other assets (2,809) (1,964)
Net cash provided by operating activities 23,480 15,236
Cash flows from investing activities:    
Loan originations, purchases and payments, net of recoveries (468,173) (197,505)
Proceeds from sale of loans held for sale   16,932
Redemptions of other investments 6,955 2,120
Purchases of other investments (7,640) (7,213)
Purchases of securities available for sale (78,196) (1,812)
Proceeds from sales and calls of securities available for sale 1,065 1,463
Proceeds from paydowns and maturities of securities available for sale 2,607 2,809
Proceeds from paydowns of securities held to maturity 395 427
Purchase of premises and equipment, net (532) (1,370)
Net cash used in investing activities (543,519) (184,149)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net   (33)
Proceeds from FHLB advances 610,000 90,240
Repayments of FHLB advances (605,000) (69,438)
Redemption of common stock for tax withholdings for restricted stock vesting (88) (72)
Net increase in deposits 715,568 136,127
Net cash provided by financing activities 720,480 156,824
Increase in cash and cash equivalents 200,441 (12,089)
Cash and cash equivalents at the beginning of the period 232,950 263,231
Cash and cash equivalents at the end of the period 433,391 251,142
Cash paid for:    
Interest 14,050 4,510
Income Taxes 9,570 $ 7,389
Non-cash item:    
Pending settlement of purchases of securities available for sale $ 24,513