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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities    
Net income $ 18,180 $ 22,285
Reconciliation of net income to net cash provided by operating activities:    
Provision for loan losses 5,590 500
Net security premium amortization 804 459
Loan discount accretion (1,841) (1,419)
Other purchase accounting accretion and amortization, net 14 (13)
Foreclosed property losses and write-downs, net 159 245
Other gains (74) (82)
Decrease (increase) in net deferred loan costs 320 (325)
Depreciation of premises and equipment 1,563 1,468
Amortization of operating lease right-of-use assets 496 475
Repayments of lease obligations (452) (455)
Stock-based compensation expense 513 403
Amortization of intangible assets 1,055 1,332
Amortization of SBA servicing assets 918 299
Fees/gains from sale of presold mortgages and SBA loans (2,488) (2,607)
Origination of presold mortgage loans in process of settlement (48,143) (19,025)
Proceeds from sales of presold mortgage loans in process of settlement 54,764 20,506
Origination of SBA loans for sale (36,081) (38,329)
Proceeds from sales of SBA loans 16,031 30,678
Decrease (increase) in accrued interest receivable (881) 512
Increase in other assets (1,738) (4,493)
(Decrease) increase in accrued interest payable (54) 365
Increase in other liabilities 3,255 5,254
Net cash provided by operating activities 13,672 17,009
Cash Flows From Investing Activities    
Purchases of securities available for sale (9,423) (161,892)
Purchases of securities held to maturity (3,624) 0
Proceeds from maturities/issuer calls of securities available for sale 45,037 29,313
Proceeds from maturities/issuer calls of securities held to maturity 10,075 10,098
Purchases of FRB and FHLB stock, net (4,572) (308)
Net increase in loans (95,680) (45,018)
Proceeds from sales of foreclosed properties 889 1,513
Purchases of premises and equipment (1,321) (1,450)
Proceeds from sales of premises and equipment 189 279
Net cash used by investing activities (58,430) (167,465)
Cash Flows From Financing Activities    
Net increase in deposits 113,664 137,957
Net increase (decrease) in short-term borrowings (48,000) 0
Proceeds from long-term borrowings 150,000 0
Payments on long-term borrowings (531) (529)
Cash dividends paid – common stock (5,328) (2,972)
Repurchases of common stock (20,000) 0
Payment of taxes related to stock withheld 0 (91)
Net cash provided by financing activities 189,805 134,365
Increase (decrease) in cash and cash equivalents 145,047 (16,091)
Cash and cash equivalents, beginning of period 231,302 462,898
Cash and cash equivalents, end of period 376,349 446,807
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 7,328 8,009
Cash paid during the period for income taxes 20 103
Non-cash: Unrealized gain (loss) on securities available for sale, net of taxes 15,993 4,523
Non-cash: Foreclosed loans transferred to other real estate 662 708
Non-cash: Initial recognition of operating lease right-of-use assets 0 19,406
Non-cash: Initial recognition of operating lease liabilities $ 0 $ 19,406