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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flow from operating activities:    
Net income $ 34,048 $ 31,598
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation, amortization and accretion 1,972 650
Provision for loan losses   1,189
Stock based compensation expense 1,097 924
Gain on sale of foreclosed real estate 0 (36)
Origination of residential real estate loans held for sale (356,715) (450,429)
Proceeds from sales of residential real estate loans 420,034 394,987
Gain on sale of residential mortgages (6,454) (3,956)
Origination of SBA loans held for sale (90,353) (78,016)
Proceeds from sales of SBA loans held for sale 94,649 82,055
Gain on sale of SBA loans (4,296) (4,039)
Increase in cash value of bank owned life insurance (352) (360)
Increase in accrued interest receivable (508) (349)
(Increase) decrease in SBA servicing rights (120) 674
Increase in mortgage servicing rights (2,806) (6,632)
(Increase) decrease in other assets (1,164) 2,731
(Decrease) increase in accrued interest payable (311) 488
Increase in other liabilities 22,603 9,974
Net cash flow provided (used) by operating activities 111,324 (18,547)
Cash flow from investing activities:    
Increase in loans, net (115,689) (12,582)
Proceeds from maturities, calls or paydowns of securities available for sale 3,080 1,839
(Purchase) redemption of Federal Home Loan Bank stock (2,679) 4,929
Purchases of premises and equipment (858) (1,999)
Proceeds from sales of foreclosed real estate owned   907
Net cash flow used by investing activities (116,146) (6,906)
Cash flow from financing activities:    
Dividends paid on common stock (7,589) (6,838)
Repurchase of common stock (1,485)  
Increase in deposits, net 91,120 235,115
Decrease in other borrowings, net (1,103) (705)
Proceeds (repayments) from Federal Home Loan Bank advances 60,000 (120,000)
Net cash flow provided by financing activities 140,943 107,572
Net change in cash and cash equivalents 136,121 82,119
Cash and cash equivalents at beginning of period 138,427 95,833
Cash and cash equivalents at end of period 274,548 177,952
Supplemental schedule of noncash investing and financing activities:    
Transfer of loan principal to foreclosed real estate, net of write-downs 423 261
Initial recognition of operating lease right-of-use assets 13,610  
Initial recognition of operating lease liabilities 14,011  
Supplemental disclosures of cash flow information-Cash paid during the year for:    
Interest 16,868 9,639
Income taxes $ 10,390 $ 7,319