| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income | ||||||
39,209 | 36,105 | 25,528 | 19,079 | 12,973 | ||
Adjustments to reconcile net income to net cash from Operating activities: | ||||||
Depreciation and amortization of premises, and equipment | ||||||
1,914 | 1,833 | 525 | - | - | ||
Depreciation and amortization of premises, and equipment | ||||||
- | - | - | 1,360 | 1,020 | ||
Net accretion of securities, loans, deposits, and other | ||||||
2,845 | 1,754 | 4,801 | - | - | ||
Unrealized gain on equity securities | ||||||
147 | - | - | - | - | ||
Amortization of investment in affordable housing tax credits | ||||||
900 | 644 | 316 | - | - | ||
Net amortization (accretion) of securities, loans, deposits, and other | ||||||
- | - | - | -7,199 | -1,012 | ||
Amortization of affordable housing tax credits | ||||||
- | - | - | 14 | - | ||
Amortization of intangible assets | ||||||
4,856 | 3,302 | 1,845 | - | - | ||
Provision for loan losses | ||||||
2,390 | 4,469 | -1,053 | 4,974 | 1,386 | ||
Stock-based compensation | ||||||
689 | 684 | 779 | 894 | 1,455 | ||
Deferred tax benefit (expense) | ||||||
1,503 | -383 | 5,083 | 1,289 | 1,361 | ||
Gain on sale of securities | ||||||
7 | 5 | - | - | - | ||
Gain on sale of securities | ||||||
- | - | - | 19 | - | ||
Gain on sale of securities | ||||||
- | - | - | - | 78 | ||
Gain on sale of loans | ||||||
9,893 | 7,126 | 9,318 | 5,847 | 4,316 | ||
Loss (gain) on sale of OREO | ||||||
-106 | - | 142 | - | 1,218 | ||
Gain on sale of fixed assets | ||||||
6 | - | - | - | - | ||
Increase in bank owned life insurance | ||||||
- | - | - | 560 | - | ||
Increase in cash surrender value of life insurance | ||||||
775 | 797 | 824 | - | 579 | ||
Loans originated and purchased for sale | ||||||
77,514 | 413,450 | 254,629 | 184,030 | 157,409 | ||
Proceeds from loans sold | ||||||
521,594 | 301,894 | 265,497 | 221,328 | 176,744 | ||
Other items | ||||||
-5,506 | -10,064 | -23 | 4,936 | -1,232 | ||
Net cash provided by operating activities | ||||||
476,468 | -84,648 | 28,783 | 56,219 | 29,095 | ||
Increase in interest-earning deposits | ||||||
- | - | - | 9,437 | -7,262 | ||
Securities available for sale: | ||||||
Purchases | ||||||
197,386 | 74,171 | 29,557 | 12,485 | - | ||
Purchases | ||||||
- | - | - | - | 5,471 | ||
Maturities, prepayments and calls | ||||||
141,537 | 64,008 | 4,353 | 4,403 | 4,115 | ||
Sales | ||||||
6,143 | 44,591 | 0 | 5,083 | - | ||
Securities held to maturity: | ||||||
Sales | ||||||
- | - | - | - | 5,514 | ||
Maturities, prepayments and calls | ||||||
1,590 | - | 1,100 | - | - | ||
Redemption of Federal Home Loan Bank stock | ||||||
808 | - | - | - | - | ||
Purchase of FHLB stock | ||||||
- | - | - | 3,265 | - | ||
Purchase of Federal Home Loan Bank stock and other equity securities, net | ||||||
7,741 | 11,077 | 837 | - | 766 | ||
Net increase of investment in qualified affordable housing projects | ||||||
2,598 | 1,911 | 5,000 | - | - | ||
Purchase of investment in qualified affordable housing projects | ||||||
- | - | - | 1,000 | - | ||
Net increase in loans | ||||||
161,426 | 366,415 | 218,897 | -40,290 | 103,128 | ||
Proceeds from sales of OREO | ||||||
1,053 | - | 257 | - | 2,086 | ||
Purchase of bank owned life insurance | ||||||
- | - | 10,000 | - | - | ||
Net cash received in connection with acquisition | ||||||
- | -25,073 | - | 35,051 | - | ||
Proceeds from sale of fixed assets | ||||||
17 | - | - | - | - | ||
Purchases of premises and equipment | ||||||
1,350 | 2,488 | 684 | 210 | 468 | ||
Net cash used in investing activities | ||||||
-219,353 | -322,390 | -264,446 | 7,202 | -105,380 | ||
Net decrease in demand deposits and savings accounts | ||||||
-21,758 | -9,807 | 226,382 | -47,679 | 65,761 | ||
Net increase in time deposits | ||||||
126,627 | 186,588 | -41,772 | -58,235 | 20,343 | ||
Net (decrease) increase in FHLB advances | ||||||
319,500 | -170,000 | -25,000 | - | - | ||
Cash dividends paid | ||||||
8,033 | 5,753 | 5,118 | 2,554 | 3,114 | ||
Issuance of subordinated debentures, net of issuance costs | ||||||
- | 54,018 | - | 49,274 | - | ||
Issuance of common stock, net of issuance costs | ||||||
- | - | 60,210 | - | - | ||
Common stock repurchased, net of repurchased costs | ||||||
3,190 | - | - | - | - | ||
Exercise of stock options | ||||||
2,817 | 9,629 | 2,296 | 595 | 491 | ||
Net cash provided by (used in) financing activities | ||||||
-223,037 | 404,675 | 266,998 | -58,599 | 83,481 | ||
Net increase in cash and cash equivalents | ||||||
34,078 | -2,363 | 31,335 | - | - | ||
Net increase (decrease) in cash and cash equivalents | ||||||
- | - | - | 4,822 | 7,196 | ||
Supplemental disclosure of cash flow information | ||||||
Cash paid during the period: | ||||||
Interest paid | ||||||
45,702 | 19,993 | 13,848 | 12,342 | 6,872 | ||
Taxes paid | ||||||
14,470 | 9,335 | 16,935 | 12,515 | 7,120 | ||
Non-cash investing and financing activities: | ||||||
Transfer of loan to available for sale securities | ||||||
- | - | 1,000 | - | - | ||
Transfer from loans to other real estate owned | ||||||
974 | 808 | - | 540 | - | ||
Transfer of loans to held for sale, net | ||||||
107,859 | 186,503 | 165,651 | 71,626 | 53,127 | ||
Loan to facilitate OREO | ||||||
623 | 104 | 425 | - | - | ||
Securities held to maturity transferred to available for sale | ||||||
- | - | - | 433 | - | ||
Net change in unrealized holding gain on securities available for sale | ||||||
2,241 | -1,271 | -176 | -107 | - | ||
Acquisition: | ||||||
Net change in unrealized holding gain on securities available for sale | ||||||
- | - | - | - | -161 | ||