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 $ 38,916 $ 34,960
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 12,550 24,506
Net premium amortization on securities 569 1,124
Depreciation and amortization 2,989 3,139
Stock-based compensation expense 2,037 2,415
Change in cash surrender value of bank owned life insurance (5,193) (4,940)
Securities gains, net (924) (1,843)
Derivative losses, net 0 1,852
Gains on sale of loans, net (316) (5,156)
Losses on loans held for sale carried at the lower of cost or fair value 2,941 0
Deferred taxes and others (2,781) 98
Gain on early extinguishment of advances from the FHLB, net (54) 0
Proceeds from sales and repayments of loans held for sale (at fair value) 12,582 126,549
Originations and purchases of loans held for sale (at fair value) (9,723) (95,713)
Net changes in operating assets and liabilities:    
Accrued interest receivable and other assets 29 6,999
Accounts payable, accrued liabilities and other liabilities (3,342) (16,190)
Net cash provided by operating activities 50,280 77,800
Cash flows from investing activities    
Placement of time deposits with other banks (500) 0
Purchases of investment securities:    
Available for sale (807,622) (425,291)
Trading securities 0 (118,444)
Federal Home Loan Bank stock (1,004) (2,575)
Purchases of investment securities (808,626) (546,310)
Maturities, sales, calls and paydowns of investment securities:    
Available for sale 252,495 92,065
Federal Home Loan Bank stock 1,516 1,424
Maturities, sales, calls and paydowns of investment securities 254,011 93,489
Net (increase) decrease in loans (335,273) 10,977
Proceeds from loan portfolio sales 155,120 24,583
Proceeds from sales of other real estate owned 0 2,661
Net purchases of premises and equipment and others (778) (3,551)
Proceeds from bank owned life insurance death benefit 916 0
Purchase of bank owned life insurance 0 (7,000)
Net cash used in investing activities (735,130) (425,151)
Cash flows from financing activities    
Net increase in demand, savings and money market accounts 653,376 523,475
Net decrease in time deposits (85,002) (71,526)
Proceeds from advances from the Federal Home Loan Bank 20,000 50,000
Repayments of advances from the Federal Home Loan Bank (29,882) (30,000)
Redemption of senior notes 0 (60,000)
Repurchase of common stock - Class A (35,067) (10,000)
Dividend paid (7,323) (7,651)
Disbursements arising from stock-based compensation, net (275) (469)
Net cash provided by financing activities 515,827 393,829
Net (decrease) increase in cash and cash equivalents and restricted cash (169,023) 46,478
Cash, cash equivalents and restricted cash    
Beginning of period 470,155 590,359
End of period $ 301,132 $ 636,837