v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities    
Net income $ 43,901 $ 37,592
Adjustments to reconcile consolidated net income to net cash and cash equivalents provided by (used in) operating activities:    
Depreciation 1,180 1,276
Amortization of intangible asset 293 293
Amortization of debt issuance costs 163 248
Net gain on sale of loans (33,592) (37,938)
Proceeds from sales of loans held for sale 1,230,911 964,924
Origination of mortgage loans held for sale (1,206,753) (1,010,426)
Net (gain) loss on sale of other real estate (49) 112
Net gain on sale of mortgage servicing rights (77) 0
Write-down of other real estate 331 0
Net gain on extinguishment of debt 0 (2,048)
Change in fair value of mortgage servicing rights ("MSR") (1,202) 1,009
Deferred tax expense (benefit) 818 (386)
Change in fair value of equity securities 14 (24)
Change in mortgage banking derivatives (1,131) 113
Net change in:    
Other assets (343) 14,387
Other liabilities 7,326 11,113
Net cash and cash equivalents provided by (used in) operating activities 41,555 (17,878)
Cash Flows from Investing Activities    
Purchase of FHLB stock (1,686) 0
Redemption of FHLB stock 5,697 0
Proceeds from sale of mortgage servicing rights 227 0
Purchase of mortgage servicing rights 0 (296)
Proceeds from sales of other real estate 269 2,715
Purchases of premises and equipment (579) (1,463)
Net increase in loans (459,959) (1,103,438)
Contributions to lender risk account ("LRA") (595) (724)
Proceeds from LRA 1,850 1,670
Net cash and cash equivalents used in investing activities (454,776) (1,101,536)
Cash Flows from Financing Activities    
Net change in deposits 363,648 1,051,516
Cash dividends paid on common stock (1,727) (1,500)
Subordinated debt call and repayment 0 (15,000)
Subordinated debt issuance, net of costs 19,877 0
Advances of FHLB borrowings 910,000 352,500
Repayment of FHLB borrowings (905,000) (374,202)
Net change in other borrowings 68,000 39,929
Issuance of common stock, net 0 114,150
Preferred stock dividend (906) (4,503)
Preferred stock repurchase 0 (4,840)
Restricted stock units issuance 1,229 714
Proceeds from exercised stock options 0 14
Net cash and cash equivalents provided by financing activities 455,121 1,158,778
Net increase in cash and cash equivalents 41,900 39,364
Cash and cash equivalents - beginning of period 496,459 376,295
Cash and cash equivalents - end of period 538,359 415,659
Cash paid for:    
Interest 125,272 93,840
Income taxes 13,455 13,548
Non-cash supplemental information:    
Change in rebooked GNMA loans over 90 days (237) 342
Loans transferred to other real estate 1,812 0
Loans transferred from loans held for sale to loans HFI at fair value 3,562 6,624
Loans transferred from loans HFI to loans held for sale at fair value 2,283 40,262
Provision (benefit) for credit losses    
Adjustments to reconcile consolidated net income to net cash and cash equivalents provided by (used in) operating activities:    
Provision (benefit) for credit loss and unfunded commitments (205) 1,932
Provision (benefit) for unfunded commitments    
Adjustments to reconcile consolidated net income to net cash and cash equivalents provided by (used in) operating activities:    
Provision (benefit) for credit loss and unfunded commitments $ (30) $ (55)