v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS — (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 38,351 $ (128,950)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for credit losses 11,822 28,219
Depreciation on premises and equipment 2,430 2,456
Impairment on goodwill 0 153,977
Amortization of intangible assets 1,381 1,738
Amortization of operating lease right-of-use asset 819 788
Amortization of loan servicing rights 769 1,139
Share-based compensation expense 1,520 1,534
Increase in cash surrender value of life insurance (4,203) (4,059)
Investment securities accretion, net (8,838) (6,937)
Loss on sales of investment securities, net 1,731 0
Origination of loans held for sale (58,855) (45,532)
Proceeds from sales of loans and leases held for sale 58,931 47,026
Gain on sale of loans held for sale (1,434) (1,303)
Gain on sale of mortgage servicing rights held for sale (2,077) 0
Net change in operating assets and liabilities:    
Accrued interest receivable 148 276
Credit enhancement asset (1,085) 11,004
Other assets 10,832 12,157
Accrued expenses and other liabilities (5,801) (20,777)
Net cash provided by operating activities 46,441 52,756
Cash flows from investing activities:    
Purchases of investment securities available for sale (394,250) (218,307)
Proceeds from sales of investment securities available for sale 98,599 0
Maturities and payments on investment securities available for sale 158,478 95,792
Purchases of equity securities (83) (33)
Net decrease in loans 87,097 331,643
Proceeds from sales of consumer loans held for sale 0 61,099
Purchases of premises and equipment (895) (3,233)
Proceeds from sale of premises and equipment 195 0
Purchases of nonmarketable equity securities (1,279) (80,200)
Proceeds from redemptions of nonmarketable equity securities 3,213 76,231
Proceeds from sales of mortgage servicing rights held for sale 5,727 0
Proceeds from sales of other real estate owned 414 4,774
Proceeds from company-owned life insurance, net 0 1,166
Net cash provided by (used in) investing activities (42,784) 268,932
Cash flows from financing activities:    
Net increase (decrease) in deposits 282,899 (250,324)
Net decrease in short-term borrowings (52,536) (78,845)
Net increase in short-term FHLB advances 0 82,000
Proceeds from long-term FHLB advances 0 203,000
Payments made on long-term FHLB advances (35,000) (198,000)
Cash dividends paid on preferred stock (4,456) (4,456)
Cash dividends paid on common stock (13,688) (13,567)
Common stock repurchased (10,668) 0
Proceeds from issuance of common stock under employee benefit plans 728 325
Net cash provided by (used in) financing activities 167,279 (259,867)
Net increase in cash and cash equivalents 170,936 61,821
Cash and cash equivalents:    
Beginning of period 127,811 114,766
End of period 298,747 176,587
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 58,748 82,580
Income tax paid (net of refunds) 1,132 761
Supplemental disclosures of noncash investing and financing activities:    
Transfer of loans to loans held for sale 1,870 29,400
Transfer of loans to other real estate owned 178 187
Right-of-use assets obtained in exchange for lease obligations 128 837
Transfer of premises and equipment, net to assets held for sale 0 245
Transfer of loan servicing rights held for sale to loan servicing rights, at lower of cost or fair value 125 0
Loans provided for sale of consumer loans held for sale $ 0 $ 219,212