Annual report pursuant to Section 13 and 15(d)

Parent Company Financial Statement - Condensed Statement of Cash Flows (Details)

v3.20.4
Parent Company Financial Statement - Condensed Statement of Cash Flows (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Jun. 30, 2019
Mar. 31, 2019
Sep. 30, 2018
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:                      
Net income $ 12,455 $ 7,088 $ 7,694 $ 4,074 $ 6,169 $ 5,827 $ 3,810 $ 5,330 $ 31,311 $ 21,136 $ 9,978
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                      
Amortization of debt issuance costs                 79    
Net change in operating assets and liabilities:                      
Net change in other assets                 78 520 167
Net change in other liabilities                 6,208 (1,890) (2,893)
Net cash provided by (used in) operating activities                 53,532 28,234 14,095
Cash flows from investing activities:                      
Net cash provided by (used in) investing activities                 (615,316) 108,499 (66,760)
Cash flows from financing activities:                      
Proceeds of borrowings, net                 220,901 25,598 3,025
Repayment of borrowings                 (73,384) (41,318) (14,331)
Proceeds from capital raise, net [1]                   46,535 42,058
Purchase of treasury stock                 (15,470) (289)  
Exercise of stock options and warrants                 683 1,966 3,902
Net cash provided by (used in) financing activities                 498,861 100,209 83,731
Cash and cash equivalents at beginning of period       325,957         325,957    
Cash and cash equivalents at end of period 263,034       325,957       263,034 325,957  
Supplemental disclosure of noncash investing and financing activities:                      
Dividends accrued not paid                 1,556    
Parent Company                      
Cash flows from operating activities:                      
Net income                 31,311 21,136 9,978
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                      
Equity in earnings of subsidiaries                 (34,733) (24,686) (12,517)
Stock-based compensation                 979 665 672
Amortization of debt issuance costs                 79    
Net change in operating assets and liabilities:                      
Net change in other assets                 (211) (2,616) 1,622
Net change in other liabilities                 1,956 (969) (1,031)
Net cash provided by (used in) operating activities                 (619) (6,470) (1,276)
Cash flows from investing activities:                      
Capital contribution                   (11,000)  
Net cash paid in business combination                   (50,278) (11,755)
Net cash provided by (used in) investing activities                   (61,278) (11,755)
Cash flows from financing activities:                      
Proceeds of borrowings, net                 46,218 21,000  
Repayment of borrowings                 (10,000) (23,811) (7,788)
Proceeds from capital raise, net                   46,535 42,058
Cash dividends paid                 (1,212)    
Purchase of treasury stock                 (15,470) (289)  
Exercise of stock options and warrants                 683 1,966 3,902
Net cash provided by (used in) financing activities                 20,219 45,401 38,172
Net change in cash and cash equivalents                 19,600 (22,347) 25,141
Cash and cash equivalents at beginning of period       $ 4,631     $ 26,978   4,631 26,978 1,837
Cash and cash equivalents at end of period $ 24,231       $ 4,631       24,231 $ 4,631 26,978
Supplemental disclosure of noncash investing and financing activities:                      
Fair value of trust preferreds acquired in business combination                     $ 2,811
Dividends accrued not paid                 $ 1,556    
[1] Shares issued in offering were net of expenses of $442 thousand in 2019 and $452 thousand in 2018.