v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 17,725 $ 4,437
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 5,646 7,899
Net accretion on loans (115) (778)
Amortization of subordinated notes issuance costs 100 118
Amortization of junior subordinated debentures 330 314
Net (accretion) amortization on securities (43) (216)
Amortization of intangible assets 5,002 5,800
Software amortization 6,777 4,857
Deferred taxes, net 7,656 4,164
Credit loss expense (benefit) 2,129 628
Stock based compensation 7,527 6,261
Net (gains) losses on equity securities 48 (81)
Net OREO (gains) losses and valuation adjustments 61 0
Net (gains) losses on disposal of premises and equipment 1,173 (628)
Origination of loans held for sale (11,059) (8,627)
Proceeds from sale of loans originated or purchased for sale 10,300 8,101
Net (gains) losses on sale of loans (187) (324)
Net change in operating leases (545) (217)
Change in estimated fair value of revenue share asset 312 (274)
(Increase) decrease in other assets (4,498) (35,407)
Increase (decrease) in other liabilities 2,880 10,152
Net cash provided by (used in) operating activities 51,219 6,179
Cash flows from investing activities:    
Purchases of securities available for sale 0 (105,000)
Proceeds from maturities, calls, and pay downs of securities available for sale 95,030 95,028
Proceeds from maturities, calls, and pay downs of securities held to maturity 201 135
Purchases of loans held for investment (3,682) (21,742)
Proceeds from sale of loans 535 13,795
Net change in loans (486,117) (406,345)
Purchases of premises and equipment (5,251) (7,294)
Proceeds from sales of premises and equipment 1,220 11,455
Net proceeds from sale of OREO 10,124 0
Expenditures for capitalized software (10,280) (9,897)
(Purchases) redemptions of FHLB and other restricted stock, net 11,082 715
Net cash paid for acquisitions 0 (137,517)
Acquired intangible assets (39) (124)
Net cash provided by (used in) investing activities (387,177) (566,791)
Cash flows from financing activities:    
Net increase (decrease) in deposits 1,267,173 365,278
Increase (decrease) in short term Federal Home Loan Bank advances (250,000) 150,000
Repayment of long term Federal Home Loan Bank advances (30,000) 0
Preferred stock dividends (1,603) (1,603)
Stock option exercises, net (211) 25
Proceeds from employee stock purchase plan common stock issuance 1,160 1,368
Purchase of treasury stock, net (2,221) (2,227)
Net cash provided by (used in) financing activities 984,298 512,841
Net increase (decrease) in cash and cash equivalents 648,340 (47,771)
Cash and cash equivalents at beginning of period 248,471 330,117
Cash and cash equivalents at end of period 896,811 282,346
Supplemental cash flow information:    
Interest paid 48,558 37,472
Income taxes paid, net 648 1,642
Cash paid for operating lease liabilities 3,358 2,952
Supplemental noncash disclosures:    
Loans transferred to OREO 0 1,995
Loans held for investment transferred to loans held for sale 535 18,075
Assets transferred to assets held for sale 2,315 0
Lease liabilities arising from obtaining right-of-use assets $ 15,127 $ 548