v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net income $ (22,850) $ 26,386 $ (1,267) $ 49,955  
Adjustments to reconcile income to net cash provided by operating activities:          
Provision for credit losses     48,650 8,300  
Depreciation and amortization on premises and equipment 2,794 2,068 4,931 4,103  
Deferred tax expense     584 4,677  
(Accretion) amortization of net (discount) premium on securities     (3,715) 253  
Accretion of net discount on acquired loans     (21,251) (851)  
Net change in deferred loan origination fees and costs     4,634 2,302  
Amortization of core deposits and other intangible assets     4,744 1,206  
Amortization of premium on acquired deposits     (3,227) (45)  
Accretion of issuance costs and net discount on subordinated debt     1,017 224  
Increase in cash surrender value of bank-owned life insurance     (1,482) (1,062)  
Impairment of other real estate owned and foreclosed assets     79 642  
Federal Home Loan Bank stock dividends     (196) (369)  
Share-based compensation expense     3,665 1,692  
Decrease in fair value of mortgage servicing rights     4,296 6,295  
Net loss on sales of available-for-sale securities     2 0  
Net loss on disposal of premises and equipment     503 133  
Net loss on other real estate owned and foreclosed assets activity     1,333 0  
Net gain on sales of loans held-for-sale     (7,076) (4,135)  
Origination of loans held-for-sale     (891,577) (641,544)  
Proceeds from sales of loans held-for-sale     1,970,458 609,949  
Changes in operating assets and liabilities:          
Lease right-of-use assets     (9,406) 24  
Accrued interest receivable     9,092 (1,802)  
Prepaid expenses and other assets     23,097 12,056  
Accrued interest payable     (32,003) (1,458)  
Accrued expenses and other liabilities     (14,226) (4,084)  
Deferred tax assets     245 (5,100)  
Net cash provided by operating activities     1,091,904 41,361  
Cash flows from investing activities:          
Cash paid to acquire FEIF Capital Partners, LLC     1,726,008 0  
Proceeds from maturities of held-to-maturity securities     637 725  
Purchases of available-for-sale securities     0 (20,772)  
Proceeds from pay-downs, sales or maturities of available-for-sale securities     1,413,482 20,246  
Loan originations, net of repayments     (4,403) (155,142)  
Purchases of premises and equipment     (1,668) (4,001)  
Proceeds from sales of other real estate owned and foreclosed assets     616 249  
Purchases of restricted equity securities     (55,978) (634)  
Proceeds from the sale or redemption of restricted equity securities     74,411 5,143  
Purchase of other investments     (40,377) (6,819)  
Proceeds from the sale or redemption of other investments     42,584 486  
Net cash provided by (used in) investing activities     3,155,312 (160,519)  
Cash flows from financing activities:          
Net change in deposits     (2,461,636) 427,949  
Net change in securities sold under agreements to repurchase     (11,138) (3,526)  
Proceeds from Federal Home Loan Bank advances     228,296 293,000  
Repayments of Federal Home Loan Bank advances     (1,652,000) (428,000)  
Repayments of other borrowings     12,500 0  
Proceeds from issuance of common stock, net of issuance costs and taxes paid on cashless exercise of equity awards     (1,319) (1,067)  
Net cash (used in) provided by financing activities     (3,910,297) 288,356  
Net increase in cash and cash equivalents     336,919 169,198  
Cash and cash equivalents, beginning of period     652,592 615,917 $ 615,917
Cash and cash equivalents, end of period $ 989,511 $ 785,115 989,511 785,115 652,592
Supplemental disclosures of cash flow information:          
Interest paid on deposits     106,142 72,973  
Interest paid on borrowed funds     5,291 2,754  
Cash paid for income taxes, net     9,617 9,720  
Non-cash investing and financing activities:          
Assets acquired from First Foundation Inc.     11,184,713 0  
Liabilities assumed from First Foundation Inc.     10,490,198 0  
Net change in unrealized (loss) gain on available-for-sale securities     (4,082) 4,575  
Loan charge-offs     53,221 14,409 $ 28,986
Loans transferred to other real estate owned and foreclosed assets     0 8,805  
Mortgage servicing rights resulting from sale or securitization of mortgage loans     $ 9,730 $ 6,773