v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 53,937 $ 45,572
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums, net of (accretion of fair value discounts), on loans and amortization of deferred loan origination costs, net of (fees) 479 (239)
Accretion of investment securities discounts, net of amortization of premiums (390) (83)
Amortization of other intangible assets 985 1,232
Net change in operating leases (83) (59)
Depreciation and amortization of premises and equipment 4,820 5,085
Deferred income tax benefit, net (12,280) (2,821)
Provision for credit losses 22,483 25,688
Stock-based compensation 1,386 1,615
(Gain) loss on:    
Sale of loans 108 (625)
Foreclosed real estate and other repossessed assets (546) (39)
Originations and purchases of loans held-for-sale (23,300) (30,040)
Proceeds from sale of loans held-for-sale 3,889 12,049
Net decrease (increase) in:    
Accrued interest receivable 1,432 1,678
Servicing assets (895) 1,197
Other assets (1,208) 9,855
Net (decrease) increase in:    
Accrued interest on deposits and borrowings (645) (694)
Accrued expenses and other liabilities 22,949 13,700
Net cash provided by operating activities 73,121 83,071
Purchases of:    
Investment securities available-for-sale (51,292) (99,872)
FHLB stock (9,000) (20,700)
Equity securities (944) (414)
Maturities and redemptions of:    
Investment securities available-for-sale 105,823 80,245
Investment securities held-to-maturity 4,830 5,196
FHLB stock 9,000 27,225
Proceeds from sales of:    
Foreclosed real estate and other repossessed assets, including write-offs 13,442 13,238
Origination and purchase of loans, excluding loans held-for-sale (770,044) (865,991)
Principal repayment of loans 701,149 768,104
Additions to premises and equipment (4,356) (4,350)
Net cash used in investing activities (1,392) (97,319)
Net (decrease) increase in:    
Deposits (415,651) 317,026
Securities sold under agreements to repurchase 0 (75,000)
FHLB advances and other borrowings (9) (70,000)
Employee awards repurchased, net of exercise of stock options and restricted units lapsed (2,372) (3,470)
Purchase of treasury stock (44,473) (23,392)
Dividends paid on common stock (13,060) (11,453)
Net cash (used in) provided by financing activities (475,565) 133,711
Net change in cash and cash equivalents (403,836) 119,463
Cash and cash equivalents at beginning of period 1,040,335 591,137
Cash and cash equivalents at end of period 636,499 710,600
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:    
Cash and due from banks 631,672 703,493
Money market investments 4,827 7,107
Total cash and cash equivalents at end of period 636,499 710,600
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:    
Interest paid 40,203 39,902
Income taxes paid 2,473 3,021
Operating lease liabilities paid 2,243 2,299
Mortgage loans held-for-sale securitized into mortgage-backed securities 23,465 19,171
Transfer from loans to foreclosed real estate and other repossessed assets 13,296 13,735
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio 2,197 0
Financed sales of foreclosed real estate 0 206
Delinquent loans booked under the GNMA buy-back option $ 54,358 $ 44,665