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 $ 97,936 $ 75,628 $ 103,533
Adjustments to reconcile income to net cash provided by operating activities:      
Provision for credit losses 24,600 27,550 18,247
Depreciation and amortization on premises and equipment 8,248 7,375 7,420
Deferred tax expense 2,759 3,347 3,012
Amortization of net premium on securities 512 729 1,004
Accretion of net discount on acquired loans (1,316) (2,530) (3,204)
Net change in deferred loan origination fees and costs 4,401 (132) (1,178)
Amortization of core deposits and other intangible assets 2,412 2,769 4,822
Amortization of premium on acquired deposits (79) (340) (966)
Accretion of discount on subordinated debt 272 383 286
Amortization of issuance costs on subordinated debt 124 147 147
Accretion of discount on convertible notes payable 0 0 101
Increase in cash surrender value of bank-owned life insurance (2,171) (1,989) (1,928)
Impairment of other real estate owned and foreclosed assets 711 133 286
Impairment of other intangible assets 0 780 0
Federal Home Loan Bank stock dividends (586) (789) (1,560)
Share-based compensation expense 3,536 2,375 2,127
Decrease in fair value of mortgage servicing rights 12,191 4,714 6,649
Net loss on disposal of premises and equipment 179 397 120
Net loss on other real estate owned and foreclosed assets activity 373 28 106
Net gain on sales of loans held-for-sale (10,965) (6,959) (3,491)
Net loss on subordinated notes issuance costs due to early redemption 444 0 0
Origination of loans held-for-sale (1,403,999) (1,088,457) (791,017)
Proceeds from sales of loans held-for-sale 1,361,666 1,075,747 788,367
Changes in operating assets and liabilities:      
Lease right-of-use assets (106) (304) (660)
Accrued interest receivable (153) 4,997 (8,556)
Prepaid expenses and other assets 23,597 (16,086) (11,397)
Accrued interest payable (2,025) (4,875) 7,782
Accrued expenses and other liabilities (11,078) 16,482 5,124
Net cash provided by operating activities 111,483 101,120 125,176
Cash flows from investing activities:      
Proceeds from maturities of held-to-maturity securities 1,533 1,849 2,007
Purchases of available-for-sale securities (23,694) (9,425) (21,555)
Proceeds from paydowns, sales or maturities of available-for-sale securities 38,734 60,309 41,669
Loan originations, net of repayments (337,954) (129,465) (362,778)
Purchases of premises and equipment (7,509) (5,412) (4,268)
Proceeds from sales of premises and equipment 41 0 0
Proceeds from sales of other real estate owned and foreclosed assets 2,331 1,077 5,952
Proceeds from bank-owned life insurance 0 725 0
Purchases of restricted equity securities (693) (44,721) (51,076)
Proceeds from the sale or redemption of restricted equity securities 5,419 54,665 64,779
Purchase of other investments (9,177) (11,769) (2,677)
Proceeds from the sale or redemption of other investments 770 1,296 668
Net cash used in investing activities (330,199) (80,871) (327,279)
Cash flows from financing activities:      
Net change in deposits 435,174 298,497 610,007
Net change in securities sold under agreements to repurchase (3,539) (9,994) (12,028)
Proceeds from Federal Home Loan Bank advances 293,000 5,460,410 2,041,468
Repayments of Federal Home Loan Bank advances (428,000) (5,714,878) (2,295,885)
Repayments of convertible notes payable 0 0 (5,456)
Repayments of subordinated notes (40,000) 0 0
Proceeds from issuance of common stock, net of issuance costs and taxes paid on cashless exercise of equity awards (1,244) 82,271 (167)
Net cash provided by financing activities 255,391 116,306 337,939
Net increase in cash and cash equivalents 36,675 136,555 135,836
Cash and cash equivalents, beginning of year 615,917 479,362 343,526
Cash and cash equivalents, end of year 652,592 615,917 479,362
Supplemental disclosures of cash flow information:      
Interest paid on deposits 146,009 155,027 92,085
Interest paid on borrowed funds 4,909 12,099 20,459
Cash paid for income taxes, net 15,707 14,940 28,459
Non-cash investing and financing activities:      
Right-of-use lease assets obtained in exchange for lessee operating lease liabilities 14,993 4,960 2,696
Net change in unrealized gain (loss) on available-for-sale securities 15,570 5,156 1,291
Loan charge-offs 28,986 21,694 9,672
Loans transferred to other real estate owned and foreclosed assets 9,791 2,275 4,086
Mortgage servicing rights resulting from sale or securitization of mortgage loans $ 14,584 $ 12,271 $ 9,253