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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flow from operating activities:    
Net income $ 17,555 $ 21,692
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 1,459 1,349
Provision for loan losses 1,061  
Stock based compensation expense 672 667
Gain on sale of foreclosed real estate (99)  
Origination of residential real estate loans held for sale (6,992) (273,864)
Proceeds from sales of residential real estate loans 95,314 264,596
Gain on sale of residential mortgages (2,529) (3,553)
Origination of SBA loans held for sale (66,277) (60,867)
Proceeds from sales of SBA loans held for sale 68,854 63,759
Gain on sale of SBA loans (2,577) (2,892)
Increase in cash value of bank owned life insurance (231) (233)
Increase in accrued interest receivable (3,169) (333)
Increase in SBA servicing rights (258) (236)
Decrease (increase) in mortgage servicing rights 2,004 (1,837)
Increase in other assets (4,135) (818)
(Decrease) increase in accrued interest payable (341) 164
Increase in other liabilities 14,923 10,731
Net cash flow provided by operating activities 115,234 18,325
Cash flow from investing activities:    
Purchases of securities under resell agreements (25,000)  
Purchases of securities available for sale (3,719)  
Proceeds from maturities, calls or paydowns of securities available for sale 1,112 1,143
Purchase of Federal Home Loan Bank stock (1,031) (129)
Increase in loans, net (205,193) (45,006)
Purchases of premises and equipment (342) (579)
Proceeds from sales of foreclosed real estate owned 1,459  
Net cash flow used by investing activities (232,714) (44,571)
Cash flow from financing activities:    
Dividends paid on common stock (5,616) (4,896)
Repurchase of common stock   (1,485)
Increase in deposits, net 42,521 51,955
Decrease in other borrowings, net (69) (672)
Proceeds from Federal Home Loan Bank advances 20,000  
Net cash flow provided by financing activities 56,836 44,902
Net change in cash and cash equivalents (60,644) 18,656
Cash and cash equivalents at beginning of period 276,413 138,427
Cash and cash equivalents at end of period 215,769 157,083
Supplemental schedule of noncash investing and financing activities:    
Transfer of loan principal to foreclosed real estate, net of write-downs 1,360  
Initial recognition of operating lease right-of-use assets 131 13,610
Initial recognition of operating lease liabilities 131 14,011
Supplemental disclosures of cash flow information-Cash paid during the year for:    
Interest 8,227 10,464
Income taxes $ 1,395 $ 6,340