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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flow from operating activities:      
Net income $ 44,718 $ 41,334 $ 31,897
Adjustments to reconcile net income to net cash provided (used) by operating activities:      
Depreciation, amortization and accretion 2,718 899 593
Provision for loan losses   1,237 3,058
Stock based compensation expense 1,526 1,499 718
Write-down of abandoned leasehold improvements     289
Gain on sale of foreclosed real estate   (36) 8
Deferred income tax expense (benefit) 1,088 355 (134)
Origination of residential real estate loans held for sale (549,185) (716,140) (235,119)
Proceeds from sales of residential real estate loans 529,398 541,690 365,044
Gain on sale of residential mortgages (9,141) (5,679) (3,035)
Origination of SBA loans held for sale (121,347) (121,009) (85,932)
Proceeds from sales of SBA loans held for sale 126,791 97,957 92,278
Gain on sale of SBA loans (5,444) (4,616) (6,347)
Increase in cash value of bank owned life insurance (470) (478) (510)
Increase in accrued interest receivable (144) (201) (988)
Decrease (increase) in SBA servicing rights 258 920 (512)
Increase in mortgage servicing rights (3,134) (8,091) (6,843)
Decrease (increase) in other assets 480 2,644 (3,687)
(Decrease) increase in accrued interest payable (361) 850 45
Increase in other liabilities 14,448 5,874 989
Net cash flow provided (used) by operating activities 32,199 (160,991) 151,812
Cash flow from investing activities:      
Purchases of securities under resell agreements     (15,000)
Purchases of securities available for sale     (1,250)
Proceeds from maturities, calls or paydowns of securities available for sale 3,304 2,075 8,040
(Purchase) redemption of Federal Home Loan Bank stock (2,679) 4,929 (867)
(Increase) decrease in loans, net (17,816) 104,354 (263,086)
Purchases of premises and equipment (1,098) (2,855) (5,912)
Proceeds from sales of foreclosed real estate owned   907 133
Net cash flow (used) provided by investing activities (18,289) 109,410 (277,942)
Cash flow from financing activities:      
Increase in deposits, net 63,145 224,248 149,117
Proceeds (repayments) from Federal Home Loan Bank advances 60,000 (120,000) 11,300
Decrease in other borrowings, net (1,128) (782) (302)
Exercise of stock options     685
Issuance of common stock, net of expenses 13,911    
Repurchase of common stock (1,485)    
Dividends paid on common stock (10,367) (9,291) (5,401)
Net cash flow provided by financing activities 124,076 94,175 155,399
Net change in cash and cash equivalents 137,986 42,594 29,269
Cash and cash equivalents at beginning of period 138,427 95,833 66,564
Cash and cash equivalents at end of period 276,413 138,427 95,833
Supplemental schedule of noncash investing and financing activities:      
Transfer of loan principal to foreclosed real estate, net of write-downs 423 261 387
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 22,599 13,825 8,575
Income taxes $ 12,490 $ 10,400 $ 20,087