v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 49,362 $ 49,961
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 2,061 1,327
Provision for credit losses 7,243 5,184
Deferred income taxes 2,217 (4,497)
Net amortization of discount/premiums on debt securities 630 1,027
Net amortization on loans 1,578 438
Amortization of intangible assets 1,400 855
Amortization of servicing assets 280 206
Mortgage loans originated-for-sale (4,204) (5,578)
Proceeds from mortgage loans sold 4,734 5,716
Investment securities 0 (106)
SBA loans (1,414) (1,895)
OREO 295 (23)
State tax credits (153) (110)
Stock-based compensation 4,304 3,128
Net change in other assets and liabilities (9,830) (15,611)
Net cash provided by operating activities 58,503 40,022
Cash flows from investing activities:    
Net (increase) decrease in loans 67,593 (110,814)
Branch acquisition, net 250 0
Sale of debt securities, available-for-sale 0 9,631
Paydown or maturity of debt securities, available-for-sale 177,163 103,620
Paydown or maturity of debt securities, held-to-maturity 17,783 1,794
Redemption of other investments 8,849 4,895
Sale of SBA loans 27,278 33,933
Sale of state tax credits held for sale 872 615
Sale of OREO 7,875 700
Settlement of bank-owned life insurance policies 1,581 0
Payments for the purchase of:    
Available-for-sale debt securities (206,186) (224,098)
Held-to-maturity debt securities 0 (90,817)
Other investments (10,903) (15,691)
Bank-owned life insurance 0 (75,000)
State tax credits held for sale 0 (110)
Fixed assets (1,024) (4,401)
Net cash provided by (used in) investing activities 91,131 (365,743)
Cash flows from financing activities:    
Net decrease in noninterest-bearing demand accounts (45,740) (199,011)
Net increase (decrease) in interest-bearing demand accounts (39,205) 86,749
Net increase in short term FHLB advances, net 0 205,000
Repayments of term loan (2,259) 0
Net decrease in other borrowings (66,113) (25,186)
Payments for Repurchase of Common Stock (27,240) (10,616)
Payments of Ordinary Dividends, Common Stock (12,170) (10,717)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock (938) (938)
Other (3,402) (2,060)
Net cash provided by (used in) financing activities (197,067) 43,221
Net decrease in cash and cash equivalents (47,433) (282,500)
Cash and cash equivalents, beginning of period 681,902 764,170
Cash and cash equivalents, end of period 634,469 481,670
Cash paid during the period for:    
Interest 60,465 63,724
Income taxes 5,727 6,644
Noncash investing and financing transactions:    
Transfer to OREO in settlement of loans 7,794 0
Right-of-use assets obtained in exchange for lease obligations 1,288 0
Unsettled purchases of available-for-sale securities $ 122,896 $ 0