v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 32,402 $ 31,749
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,290 2,843
Depreciation and amortization of premises and equipment and equipment for operating leases 4,924 5,612
Deferred income tax expense 829 347
Net accretion of purchase accounting adjustments on loans (1,129) (1,343)
Net amortization and accretion 1,701 2,610
SBIC investments income (876) (1,561)
Gain on sale of branches 0 (1,448)
Gain on sale of premises and equipment (1,478) (28)
Loss on repossessed assets 49 275
Loss on previously leased equipment 372 1,103
Loss on redemption of junior subordinated debt securities 1,079 0
BOLI income (1,785) (1,694)
Gain on sale of loans held for sale (4,528) (4,017)
Origination of loans held for sale (147,706) (231,120)
Proceeds from sales of loans held for sale 220,321 263,374
New deferred loan origination fees (costs), net 1,251 (571)
Amortization of tax credit equity investments 2,154 188
Decrease in accrued interest receivable and other assets 1,996 4,411
Share-based compensation expense 1,480 986
ESOP compensation expense 1,182 929
Decrease in accrued interest payable and other liabilities (1,222) (9,576)
Net cash provided by operating activities 112,306 63,069
Investing activities    
Purchase of debt securities available for sale (26,733) (6,872)
Proceeds from maturities, calls and paydowns of debt securities available for sale 22,478 17,426
Purchases of CDs in other banks 0 (1,742)
Proceeds from maturities of CDs in other banks 7,212 6,961
Net redemption (purchase) of FHLB and FRB stock 16 (1,633)
Net capital contributions in SBIC investments (79) (1,042)
Net capital redemption of (contribution in) tax credit equity investments 542 (208)
Net capital contribution in fintech equity investments (625) 0
Net increase in loans (35,784) (20,433)
Purchase of BOLI (9) (14)
Proceeds from redemption of BOLI policies 0 2,174
Death benefit proceeds from BOLI policies 268 0
Purchase of equipment for operating leases - lessor 0 (2,550)
Proceeds from sale of equipment for operating leases - lessor 6,432 731
Purchase of premises and equipment (2,164) (2,363)
Proceeds from sale of premises and equipment and assets held for sale 2,185 7,652
Proceeds from sale of repossessed assets 439 416
Net cash used in investing activities (25,822) (1,497)
Financing activities    
Deposits assumed by third parties through branch sales 0 (34,252)
Net decrease in deposits (103,150) (78,773)
Net decrease in short-term borrowings 10,000 77,000
Redemption of junior subordinated debt securities (11,341) 0
Common stock repurchased (30,232) (3,334)
Granted restricted stock 1 0
Cash dividends paid (4,641) (4,112)
Retired stock (593) (442)
Exercised stock options 1,324 331
Net cash provided by financing activities (138,632) (43,582)
Net increase (decrease) in cash and cash equivalents (52,148) 17,990
Cash and cash equivalents at beginning of period 324,692 279,219
Cash and cash equivalents at end of period 272,544 297,209
Cash paid during the period for    
Interest 35,927 45,326
Income taxes 1,978 10,239
Noncash transactions    
Unrealized (loss of) gain in value of debt securities available for sale, net of income taxes (1,013) 1,409
Transfers of loans held for sale to loans held for investment 15,403 7,311
Transfers of loans held for investment to repossessed assets 3,886 273
Transfer of premises and equipment to assets held for sale 0 7,624
ROU asset and lease liabilities for operating lease accounting $ 0 $ 448