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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 $ 4,740 $ 3,216
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Provision for loan losses   575
Depreciation and amortization of premises and equipment 268 240
Amortization of net premiums on securities 53 61
Stock-based compensation 377 246
Gain on sales of loans (1,077) (989)
Earnings on company owned life insurance (COLI) (1,308) (76)
Origination of loans held for sale (18,044) (16,819)
Proceeds from sales of loans held for sale 19,165 14,598
Amortization of servicing assets 403 424
Net change in fair value of equity investment with readily determinable fair value (46)  
Net change in:    
Accrued interest receivable (300) (40)
Deferred tax assets 7 (620)
Other assets (80) (2,295)
Accrued interest payable 463 134
Other liabilities (1,967) (44)
Net cash from operating activities 2,654 (1,389)
Cash flows from investing activities    
Net change in loans receivable (39,168) (45,726)
Proceeds from calls of securities available for sale 1,670 1,520
Proceeds from COLI 2,288  
Purchase of premises and equipment, net (718) (467)
Purchase of other investments   (13)
Net cash from investing activities (35,928) (44,686)
Cash flows from financing activities    
Net change in deposits 24,226 44,974
Cash received from stock option exercises 292 114
Repayment of Federal Home Loan Bank advances   (15,000)
Issuance of common stock, net of expenses   22,637
Repurchase of common stock (2,381)  
Cash dividend paid on common stock (793)  
Net cash from financing activities 21,344 52,725
Net change in cash and cash equivalents (11,930) 6,650
Cash and cash equivalents at beginning of period 77,726 63,250
Cash and cash equivalents at end of period 65,796 69,900
Supplemental cash flow information    
Income taxes 465  
Interest 2,825 $ 1,487
Supplemental noncash disclosure:    
Transfer from loan receivable to OREO 1,146  
The adoption of ASU 2016-02, leases (Topic 842) recognition right-of-use assets [1] 7,738  
ASU 2016-02    
Supplemental noncash disclosure:    
The adoption of ASU 2016-02, leases (Topic 842) recognition right-of-use assets $ 8,057  
[1] The adoption of ASU 2016-02, Leases (Topic 842) in the first quarter of 2019 resulted in the recognition of right-of-use assets and lease liabilities on balance sheet.