v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net income $ 22,154 $ 17,247
Adjustments to reconcile consolidated net income to net cash and cash equivalents provided by operating activities:    
Depreciation 594 662
Amortization of intangible asset 146 146
Amortization of debt issuance costs 80 226
Net gain on sale of loans (16,547) (18,587)
Proceeds from sales of loans held for sale 639,754 444,893
Origination of mortgage loans held for sale (616,204) (420,710)
Net loss on sale of other real estate 0 6
Write-down of other real estate 171 76
Net gain on extinguishment of debt 0 (2,048)
Change in fair value of mortgage servicing rights ("MSR") (1,322) 707
Deferred tax expense 288 (551)
Change in fair value of equity securities 8 (20)
Change in mortgage banking derivatives (3,803) (560)
Net change in:    
Other assets 4,246 17,951
Other liabilities 8,572 13,691
Net cash and cash equivalents provided by operating activities 37,692 54,424
Cash Flows from Investing Activities    
Proceeds from sales of other real estate 0 2,075
Purchases of premises and equipment (417) (322)
Net increase in loans (388,995) (717,495)
Contributions to lender risk account ("LRA") (324) (400)
Proceeds from LRA 893 628
Net cash and cash equivalents used in investing activities (388,843) (715,514)
Cash Flows from Financing Activities    
Net change in deposits 131,750 400,067
Cash dividends paid on common stock (861) (641)
Subordinated debt call and repayment 0 (15,000)
Subordinated debt issuance, net of costs 19,877 0
Advances of FHLB borrowings 435,000 80,000
Repayment of FHLB borrowings (430,000) (100,452)
Net change in other borrowings 186,996 134,908
Issuance of common stock, net 0 114,444
Preferred stock dividend (453) (2,206)
Preferred stock repurchase 0 (4,840)
Proceeds from exercised stock options 0 14
Net cash and cash equivalents provided by financing activities 342,309 606,294
Net decrease in cash and cash equivalents (8,842) (54,796)
Cash and cash equivalents - beginning of year 496,459 376,295
Cash and cash equivalents - end of year 487,617 321,499
Cash paid for:    
Interest 58,531 41,720
Non-cash supplemental information:    
Change in rebooked GNMA loans over 90 days (290) 232
Loans transferred to other real estate 1,806 0
Loans transferred from loans held for sale to loans HFI at fair value 2,747 2,181
Provision (benefit) for credit losses    
Adjustments to reconcile consolidated net income to net cash and cash equivalents provided by operating activities:    
Provision (benefit) for credit loss and unfunded commitments (469) 1,385
Provision (benefit) for unfunded commitments    
Adjustments to reconcile consolidated net income to net cash and cash equivalents provided by operating activities:    
Provision (benefit) for credit loss and unfunded commitments $ 24 $ (90)