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 $ 36,595 $ 33,271
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,625 900
Depreciation, amortization and accretion, net 2,989 1,254
Deferred income tax expense 1,203 584
Gain on sale of mortgage loans held for sale (642) (554)
Origination of mortgage loans held for sale (32,087) (29,997)
Proceeds from sale of mortgage loans held for sale 33,218 29,040
Bank owned life insurance income [1] (632) (622)
Gain on the sale of premises and equipment [1] (479) 0
Stock compensation expense 1,287 1,153
Excess tax benefit from share-based compensation arrangements (126) (380)
Net change in accrued interest receivable and other assets (3,599) 6,853
Net change in accrued interest payable and other liabilities (27,103) (21,719)
Net cash provided by operating activities 12,249 19,783
Cash flows from investing activities:    
Proceeds from maturities and paydowns of available for sale debt securities 127,295 223,533
Purchases of available for sale debt securities (99,579) (247,468)
Proceeds from maturities and paydowns of held to maturity debt securities 5,943 157,796
Purchases of FHLB stock 0 (15,972)
Proceeds from redemption of FHLB stock 0 8,260
Net change in loans (184,890) (124,832)
Purchases of premises and equipment (2,741) (1,943)
Proceeds from sale or disposal of premises and equipment 1,257 0
Other investment activities (9,591) (11,756)
Net cash used in investing activities (162,306) (12,382)
Cash flows from financing activities:    
Net change in deposits (33,901) 127,565
Net change in securities sold under agreements to repurchase and federal funds purchased (24,907) (11,528)
Proceeds from FHLB advances 300,000 300,000
Repayments of FHLB advances (300,000) (300,000)
Repurchase of common stock (1,280) (1,608)
Cash dividends paid (9,512) (9,114)
Net cash (used in) provided by financing activities (69,600) 105,315
Net change in cash and cash equivalents (219,657) 112,716
Beginning cash and cash equivalents 886,376 291,020
Ending cash and cash equivalents 666,719 403,736
Supplemental cash flow information:    
Interest paid 39,255 40,553
Income taxes paid, net of refunds 11,200 6,085
Cash paid for operating lease liabilities 1,138 1,138
Supplemental non-cash activity:    
Change in unfunded commitments in tax credit investments 0 16,000
Dividends payable to stockholders 198 185
Loans transferred to OREO $ 0 $ 75
[1] Outside of the scope of ASC 606.