v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 25,359 $ 16,090 $ 41,081
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation 14,873 15,510 13,801
Net accretion on loans (2,885) (2,764) (5,242)
Amortization of subordinated notes issuance costs 217 484 878
Amortization of junior subordinated debentures 639 612 582
Net (accretion) amortization on securities (454) (763) (844)
Amortization of intangible assets 11,582 11,992 11,454
Software amortization 10,806 5,846 4,453
Deferred taxes, net 6,291 (4,784) 6,539
Credit loss expense (benefit) 3,148 18,767 12,203
Stock based compensation 14,013 14,519 13,228
Net (gains) losses on sale or call of debt securities 0 1 (102)
Net (gains) losses on equity securities 980 (491) (80)
Net OREO (gains) losses and valuation adjustments (304) 66 0
Net (gains) losses on disposal of premises and equipment (14,890) (28) (49)
Origination of loans held for sale (16,356) (8,375) (5,273)
Proceeds from sale of loans originated or purchased for sale 17,365 7,633 4,134
Net (gains) losses on sale of loans (514) (178) (119)
Net change in operating leases (491) 110 (278)
Change in estimated fair value of revenue share asset 9 (1,309) 1,743
(Increase) decrease in other assets (6,330) (12,578) (34,450)
Increase (decrease) in other liabilities 4,007 (1,817) (3,645)
Net cash provided by (used in) operating activities 67,065 58,543 60,014
Cash flows from investing activities:      
Purchases of securities available for sale (105,000) (204,791) (72,041)
Proceeds from sales of securities available for sale 0 0 15,996
Proceeds from maturities, calls, and pay downs of securities available for sale 124,348 123,270 28,780
Proceeds from maturities, calls, and pay downs of securities held to maturity 229 978 529
Proceeds from sales of equity securities 94 700 783
Purchases of loans held for investment (34,162) (37,197) (18,842)
Proceeds from sale of loans 23,893 23,578 59,196
Net change in loans (450,588) (380,222) (92,109)
Purchases of premises and equipment (16,446) (62,803) (23,870)
Proceeds from sales of premises and equipment 86,756 41 0
Expenditures for capitalized software (19,205) (21,452) (16,863)
Net proceeds from sale of OREO 2,299 592 0
(Purchases) redemptions of FHLB and other restricted stock, net (199) 224 (8,026)
Purchase of Bank Owned Life Insurance 0 (20,000) 0
Acquired intangible assets (124) (2,920) (3,042)
Net cash paid for acquisitions (137,374) (10,000) 0
Net cash provided by (used in) investing activities (525,479) (590,002) (129,509)
Cash flows from financing activities:      
Net increase (decrease) in deposits 129,396 843,342 (193,858)
Increase (decrease) in customer repurchase agreements 0 0 (340)
Increase (decrease) in Federal Home Loan Bank advances 250,000 (225,000) 225,000
Repayment of other borrowings 0 (39,500) 0
Preferred stock dividends (3,206) (3,206) (3,206)
Stock option exercises, net 320 413 144
Proceeds from employee stock purchase plan common stock issuance 2,485 2,184 1,831
Purchase of treasury stock, net (2,227) (3,292) (81,623)
Net cash provided by (used in) financing activities 376,768 574,941 (52,052)
Net increase (decrease) in cash and cash equivalents (81,646) 43,482 (121,547)
Cash and cash equivalents at beginning of period 330,117 286,635 408,182
Cash and cash equivalents at end of period 248,471 330,117 286,635
Supplemental cash flow information:      
Interest paid 73,900 68,627 48,283
Income taxes paid, net (46) 1 14,141
Cash paid for operating lease liabilities 5,963 5,339 5,573
Supplemental noncash disclosures:      
Loans transferred to OREO 12,180 621 37
Loans held for investment transferred to loans held for sale 23,925 22,787 53,590
Lease liabilities arising from obtaining right-of-use assets 1,700 2,477 3,507
Securities available for sale purchased, not settled 0 0 11,998
Stock issued as consideration paid for acquisitions $ 12,732 $ 0 $ 0