v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net income $ 64,632 $ 49,716
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 18,750 39,106
Net (discount) premium amortization on securities (230) 1,757
Depreciation and amortization 4,386 4,626
Stock-based compensation expense 3,562 3,567
Change in cash surrender value of bank owned life insurance (7,883) (7,494)
Securities gains, net (898) (3,046)
Derivative losses, net 0 3,235
Gains on sale of loans, net (536) (5,257)
Losses on loans held for sale carried at the lower of cost or fair value 2,876 881
Deferred taxes and others (2,524) (1,103)
Gain on early extinguishment of advances from the FHLB, net (675) 0
Proceeds from sales and repayments of loans held for sale (at fair value) 18,481 135,365
Originations and purchases of loans held for sale (at fair value) (15,877) (100,400)
Net changes in operating assets and liabilities:    
Accrued interest receivable and other assets 5,146 1,085
Accounts payable, accrued liabilities and other liabilities 18,557 (21,540)
Net cash provided by operating activities 107,767 100,498
Cash flows from investing activities    
Placement of time deposits with other banks (500) 0
Purchases of investment securities:    
Available for sale (807,622) (794,586)
Trading securities 0 (118,444)
Federal Home Loan Bank stock (14,355) (8,330)
Purchases of investment securities (821,977) (921,360)
Maturities, sales, calls and paydowns of investment securities:    
Available for sale 511,075 151,860
Trading securities 0 1,555
Federal Home Loan Bank stock 14,341 3,800
Maturities, sales, calls and paydowns of investment securities 525,416 157,215
Net (increase) decrease in loans (605,851) 211,582
Proceeds from loan portfolio sales 218,866 58,340
Proceeds from sales of other real estate owned 6,742 2,661
Net purchases of premises and equipment and others (1,859) (2,534)
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 (678,247) (501,096)
Cash flows from financing activities    
Net increase in demand, savings and money market accounts 527,570 582,888
Net decrease in time deposits (68,832) (136,514)
Proceeds from advances from the Federal Home Loan Bank 620,000 380,000
Repayments of advances from the Federal Home Loan Bank (616,982) (293,387)
Proceeds from issuance of Senior Notes, net of issuance costs 48,355 0
Redemption of senior notes 0 (60,000)
Repurchase of common stock - Class A (37,077) (20,000)
Dividend paid (10,852) (11,405)
Disbursements arising from stock-based compensation, net (387) (485)
Net cash provided by financing activities 461,795 441,097
Net (decrease) increase in cash and cash equivalents and restricted cash (108,685) 40,499
Cash, cash equivalents and restricted cash    
Beginning of period 470,155 590,359
End of period $ 361,470 $ 630,858