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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES:    
Net income $ 7,029 $ 4,367
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for loan losses 600 200
Net amortization of purchase premiums and discounts on securities 172 279
Depreciation and amortization 504 352
Deferred income tax expense 10 345
Net security gains (175) (28)
Gain on sale of subordinated debt (2,264) 0
Stock compensation expense 271 226
(Loss) gain on sale of OREO (44) 22
Gain on sale of mortgage loans held for sale, net (783) (911)
Gain on sale of SBA loans held for sale, net (945) (363)
Origination of mortgage loans held for sale (51,052) (42,184)
Origination of SBA loans held for sale (11,174) (9,866)
Proceeds from sale of mortgage loans held for sale, net 51,835 43,095
Proceeds from sale of SBA loans held for sale, net 11,563 3,829
BOLI income (187) (189)
Net change in other assets and liabilities 1,226 733
Net cash provided by (used in) financing activities 6,586 (93)
INVESTING ACTIVITIES    
Purchases of securities held to maturity (11,109) 0
Purchases of securities available for sale (4,249) (1,002)
Purchases of FHLB stock, at cost (3,012) (9,570)
Maturities and principal payments on securities held to maturity 823 1,350
Maturities and principal payments on securities available for sale 5,547 4,414
Proceeds from sales of securities available for sale 6,594 528
Proceeds from redemption of FHLB stock 2,520 9,967
Proceeds from sale of OREO 1,518 1,044
Net increase in loans (27,585) (55,953)
Purchases of premises and equipment (6,001) (676)
Net cash used in investing activities (34,954) (49,898)
FINANCING ACTIVITIES    
Net increase in deposits 17,705 21,086
Proceeds from new borrowings 59,000 50,000
Repayments of borrowings (37,000) (60,000)
Repurchase of subordinated debentures (2,891) 0
Proceeds from exercise of stock options 105 0
Dividends on common stock (631) (474)
Net cash provided by financing activities 36,288 10,612
Increase (decrease) in cash and cash equivalents 7,920 (39,379)
Cash and cash equivalents, beginning of period 88,157 129,821
Cash and cash equivalents, end of period 96,077 90,442
SUPPLEMENTAL DISCLOSURES    
Interest paid 4,427 3,767
Income taxes paid 3,112 1,868
Noncash investing activities:    
Capitalization of servicing rights 835 240
Transfer of loans to OREO $ 1,473 $ 2,194