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 $ 59,989 $ 51,017
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and accretion, net 1,037 609
Amortization of intangible assets 209 287
Deferred income tax expense 614 3,001
Provision for credit losses 17,917 5,486
Stock-based compensation expense 4,177 3,157
Net (gain) loss from equity method investments (850) 2,458
Net loss on sale of securities available for sale and other assets 861 1,721
Net gain on sale of loans and change in fair value on loans held-for-sale, net (12) (850)
Net gain on death benefits of bank-owned life insurance (681) (160)
Proceeds from sales of loans originated as held for sale 1,685 9,206
Originations of loans held for sale (458) (10,624)
Increase in cash surrender value of bank-owned life insurance (1,290) (1,262)
Decrease in accrued interest receivable 1,333 5,663
Decrease in other assets 13,771 1,200
Decrease in other liabilities (11,044) (11,770)
Net cash provided by operating activities 87,258 59,139
CASH FLOWS FROM INVESTING ACTIVITIES    
Net increase in loans (195,639) (43,895)
Proceeds from sales of loans originated as held for investment 470 34,844
Purchase of securities available for sale (794,734) (473,312)
Purchase of securities held-to-maturity (95,915) (35,231)
Proceeds from sales of securities available for sale 135,180 56,136
Maturities, principal payments and redemptions of securities available for sale 192,186 189,161
Maturities, principal payments and redemptions of securities held-to-maturity 78,472 55,293
Increase in resell agreements (10,609) (33,299)
Decrease in equity method investments 1,219 914
Decrease (increase) in FHLBNY stock, net (240) 10,416
Purchase of premises and equipment, net (16,953) (1,041)
Proceeds from redemption of bank-owned life insurance 1,506 983
Proceeds from sale of owned assets 0 46
Net cash used in investing activities (705,057) (238,985)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 509,173 552,667
Net increase (decrease) in other borrowings 164 (238,994)
Common stock issued under Equity Programs 1,028 1,033
Repurchase of common stock (2,779) (13,188)
Dividends paid on common stock (10,375) (8,767)
Payments related to repurchase of common stock for equity awards (2,845) (2,588)
Net cash provided by financing activities 494,366 290,163
Increase (decrease) in cash, cash equivalents, and restricted cash (123,433) 110,317
Cash, cash equivalents, and restricted cash at beginning of year 291,217 60,749
Cash, cash equivalents, and restricted cash at end of period 167,784 171,066
Supplemental disclosures of cash flow information:    
Interest paid during the period 60,381 61,447
Income taxes paid during the period 20,860 14,750
Supplemental non-cash activities:    
Right-of-use assets obtained in exchange for lease liabilities 1,721 829
Loans transferred to held-for-investment 670 2,472
Purchase of securities available for sale, net not settled $ 0 $ 15,157