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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
OPERATING ACTIVITIES:    
Net income $ 10,049 $ 6,918
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for loan losses 1,020 400
Net amortization of purchase premiums and discounts on securities 271 409
Depreciation and amortization 632 493
Deferred income tax expense 15 171
Net security gains (186) (28)
Gain on repurchase of subordinated debentures (2,264) 0
Stock compensation expense 418 343
Gain on sale of OREO (71) (3)
Gain on sale of mortgage loans held for sale, net (1,246) (1,444)
Gain on sale of SBA loans held for sale, net (1,584) (671)
Origination of mortgage loans held for sale (76,668) (77,911)
Origination of SBA loans held for sale (23,370) (16,008)
Proceeds from sale of mortgage loans held for sale, net 77,914 79,355
Proceeds from sale of SBA loans held for sale, net 19,959 7,539
BOLI income (283) (284)
Net change in other assets and liabilities 698 360
Net cash provided by (used in) operating activities 5,304 (361)
INVESTING ACTIVITIES    
Purchases of securities held to maturity (11,322) (264)
Purchases of securities available for sale (8,331) (1,002)
Purchases of FHLB stock, at cost (3,912) (10,538)
Maturities and principal payments on securities held to maturity 1,565 2,181
Maturities and principal payments on securities available for sale 7,525 6,614
Proceeds from sales of securities available for sale 9,813 528
Proceeds from redemption of FHLB stock 2,745 12,060
Proceeds from sale of OREO 1,624 1,598
Net increase in loans (58,353) (87,062)
Purchases of premises and equipment (8,190) (836)
Net cash used in investing activities (66,836) (76,721)
FINANCING ACTIVITIES    
Net increase in deposits 38,827 71,906
Proceeds from new borrowings 70,000 25,000
Repayments of borrowings (47,000) (60,000)
Repurchase of subordinated debentures (2,891) 0
Proceeds from exercise of stock options 134 0
Dividends on common stock (1,025) (788)
Net cash provided by financing activities 58,045 36,118
Decrease in cash and cash equivalents (3,487) (40,964)
Cash and cash equivalents, beginning of period 88,157 129,821
Cash and cash equivalents, end of period 84,670 88,857
SUPPLEMENTAL DISCLOSURES    
Interest paid 6,557 5,659
Income taxes paid 5,512 3,289
Noncash investing activities:    
Transfer of SBA loans held for sale to held to maturity 0 84
Capitalization of servicing rights 1,133 754
Transfer of loans to OREO $ 1,553 $ 2,194