| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash Flows From Operating Activities: | ||||||
Net income | ||||||
21,136 | 9,978 | 4,753 | 3,715 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Provision for loan losses | ||||||
2,856 | 2,160 | 2,475 | 1,617 | |||
Depreciation and amortization | ||||||
3,235 | 2,167 | 1,762 | - | |||
Depreciation and amortization | ||||||
- | - | - | 1,788 | |||
Net amortization (accretion) of premium (discount) on investment securities | ||||||
-400 | -306 | -237 | -85 | |||
Amortization of intangible assets | ||||||
3,630 | 917 | 703 | 671 | |||
Accretion of discount on retained SBA loans | ||||||
941 | 1,287 | 946 | 730 | |||
Deferred tax expense | ||||||
1,730 | 1,065 | -50 | 752 | |||
Originations of loans held for sale | ||||||
47,725 | 69,424 | 71,185 | 46,731 | |||
Proceeds from loans held for sale | ||||||
51,885 | 74,453 | 77,169 | 50,752 | |||
Net gains on sale of loans held for sale | ||||||
4,014 | 5,120 | 5,684 | 4,437 | |||
Gain on sale of investment securities | ||||||
4,582 | - | - | 69 | |||
Gain on sale of other real estate owned | ||||||
48 | -21 | - | - | |||
(Gain) loss on sale of premises and equipment | ||||||
- | - | -45 | 21 | |||
Fair value adjustment on SBA servicing asset | ||||||
1,545 | 831 | 1,211 | 855 | |||
Stock-based compensation | ||||||
665 | 672 | 1,520 | 1,069 | |||
Increase in cash surrender value of BOLI | ||||||
306 | 19 | 2 | 5 | |||
Net change in operating assets and liabilities: | ||||||
Net change in accrued interest receivable | ||||||
-35 | 2 | 981 | 87 | |||
Net change in accrued interest payable | ||||||
103 | 103 | 143 | 53 | |||
Net change in other assets | ||||||
-520 | -167 | -584 | 1,571 | |||
Net change in other liabilities | ||||||
-1,890 | -2,893 | 2,098 | -559 | |||
Net cash provided by operating activities | ||||||
28,234 | 14,095 | 13,852 | 7,147 | |||
Cash Flows From Investing Activities: | ||||||
Purchase of investment securities available for sale | ||||||
63,298 | - | 40,414 | - | |||
Sales of investment securities available for sale | ||||||
171,260 | - | - | 5,308 | |||
Sales of investment securities held to maturity | ||||||
- | - | - | 6,726 | |||
Paydown and maturities of investment securities available for sale | ||||||
35,501 | 6,975 | 2,305 | 2,688 | |||
Paydown and maturities of investment securities held to maturity | ||||||
- | - | - | 833 | |||
Net sale (purchase) of FHLB and other bank stock | ||||||
-530 | 161 | 69 | 59 | |||
Net decrease in time deposits in other banks | ||||||
- | 245 | - | - | |||
Net decrease in time deposits in other banks | ||||||
- | - | - | 748 | |||
Proceeds from the sale of loans held for investment | ||||||
- | 1,451 | - | - | |||
Net change in loans | ||||||
124,163 | 113,597 | 101,754 | - | |||
Net change in loans | ||||||
- | - | - | 83,552 | |||
Proceeds from the sale of other real estate owned | ||||||
1,445 | 57 | 474 | 1,563 | |||
Purchase of premises and equipment | ||||||
7,229 | 6,617 | 14,164 | 7,260 | |||
Proceeds from the sale of premises and equipment | ||||||
- | - | 502 | 30 | |||
Net cash received in business combination | ||||||
- | - | - | 31,889 | |||
Net cash received in business combination | ||||||
94,453 | 44,887 | - | - | |||
Net cash provided by (used in) investing activities | ||||||
108,499 | -66,760 | -153,120 | -41,086 | |||
Cash Flows From Financing Activities: | ||||||
Net change in deposits | ||||||
75,306 | 49,502 | 20,930 | 116,351 | |||
Redemption of trust preferred securities | ||||||
77 | - | - | - | |||
Proceeds from long-term borrowings | ||||||
25,598 | 3,025 | 19,177 | 76,294 | |||
Repayment of long-term borrowings | ||||||
41,318 | 14,331 | 8,782 | 62,128 | |||
Proceeds from short-term borrowings | ||||||
- | 32,500 | 15,000 | - | |||
Repayment of short-term borrowings | ||||||
12,500 | 35,000 | 5,000 | 35,000 | |||
Net change in secured borrowings | ||||||
-4,834 | -2,075 | -3,189 | - | |||
Shares issued in offering, net | ||||||
46,535 | 42,058 | - | - | |||
Purchase of treasury stock | ||||||
289 | - | - | - | |||
Exercise of stock options and warrants | ||||||
1,966 | 3,902 | 471 | 59 | |||
Net cash provided by financing activities | ||||||
100,209 | 83,731 | 44,985 | 95,576 | |||
Net Change in Cash and Cash Equivalents | ||||||
236,942 | 31,066 | -94,283 | 61,637 | |||
Supplemental Disclosures of Cash Flow Information: | ||||||
Interest paid | ||||||
16,853 | 10,030 | 8,185 | 6,677 | |||
Income taxes paid | ||||||
3,600 | 2,965 | 2,495 | 3,090 | |||
Supplemental disclosure of noncash investing and financing activities: | ||||||
Transfer of loans to other real estate owned and repossessed assets | ||||||
3,964 | 806 | 472 | 1,255 | |||
Fair value of assets acquired in business combination, excluding cash | ||||||
695,222 | 299,090 | - | - | |||
Goodwill recorded | ||||||
50,250 | 13,768 | - | - | |||
Liabilities assumed in business combination | ||||||
711,592 | 303,287 | - | - | |||
Stock issued in business combination | ||||||
78,083 | 40,692 | - | - | |||
Branch Acquisition | ||||||
Fair value of assets acquired in branch acquisition, excluding cash | ||||||
- | - | - | 4,852 | |||
Liabilities assumed in branch acquisition | ||||||
- | - | - | 36,741 | |||