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Condensed Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Cash Flows from Operating Activities      
Net income $ 15,349 $ 8,965 $ 10,841
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation and amortization 2,068 1,829 1,368
Write-downs on premises and equipment held for sale 58 880  
Amortization of premiums / discounts 6,869 4,991 4,196
Amortization of intangible assets 1,049 1,057 400
Accretion of discount on acquired and purchased loans, net (2,057) (2,488)  
Share-based compensation expense 1,092 993 533
Gain on extinguishment of debt (552)    
Gain on sale of available for sale securities (641) (646) (3,926)
Loss on sale of assets 6    
Gain on sale of loans held for sale (1,602) (1,330) (2,282)
Originations of loans held for sale (134,762) (81,748) (139,075)
Proceeds from sale of loans held for sale 129,195 82,878 161,520
Net increase in bank owned life insurance (639) (622) (477)
Decrease in deferred tax assets 3,987 5,407 5,448
Tax impact of share-based compensation (105) (184) (19)
Decrease in other assets and other liabilities, net 1,838 48 1,155
Net cash provided by operating activities 21,153 20,030 39,682
Cash Flows from Investing Activities      
Net cash and cash equivalents acquired in MISN Transaction   28,891  
Purchase of securities, available for sale (206,123) (168,339) (210,127)
Sale of securities, available for sale 55,184 129,074 161,181
Proceeds from principal paydowns of securities, available for sale 48,842 39,928 47,074
Proceeds from sale of premises and equipment 1,957 3,590  
Purchase of FHLB stock   (941) (164)
Increase in loans, net (46,923) (86,233) (140,932)
Recoveries on previously charged-off loans 1,099 857 1,767
Proceeds from sale of foreclosed collateral 91 1,628 1,374
Purchase of bank owned life insurance (7,500)    
Purchase of property, premises and equipment, net (1,642) (6,456) (9,632)
Net cash used in investing activities (155,015) (58,001) (149,459)
Cash Flows from Financing Activities      
Increase in deposits, net 170,134 49,370 103,025
Proceeds from Federal Home Loan Bank borrowing 61,000 70,000 234,500
Repayments of Federal Home Loan Bank borrowing (52,898) (69,000) (212,500)
Decrease in junior subordinated debentures (2,550)    
Proceeds from exercise of stock options, including tax benefits 398 453 157
Stock issuance costs   (381)  
Dividends paid (7,851) (2,742)  
Dividends on Series A preferred stock     (708)
Retirement of Series A preferred stock and related warrants     (22,575)
Repurchases of common stock (28) (387)  
Net cash provided by financing activities 168,205 47,313 101,899
Net increase (decrease) in cash and cash equivalents 34,343 9,342 (7,878)
Cash and cash equivalents, beginning of period 35,580 26,238 34,116
Cash and cash equivalents, end of period 69,923 35,580 26,238
Cash Flow Information      
Interest paid 5,842 4,995 3,821
Income taxes paid 2,420 600 2,100
Non-Cash Flow Information      
Change in unrealized (loss) gain on available for sale securities (164) 8,075 (8,565)
Loans transferred to foreclosed assets 416 1,564 1,374
Premises transferred to held for sale   2,916  
Accretion on preferred stock $ 70 168 $ 189
Common stock issued in MISN Transaction   $ 60,255