v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
NET (LOSS) INCOME $ (16,298) $ 34,350
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
PROVISION FOR CREDIT LOSSES 189,574 144,590
Depreciation and amortization 9,304 4,821
Origination of loans held for sale (6,850) 0
Proceeds from sales of loans held for sale 6,164 0
Loss on disposition of fixed assets 11 0
Amortization of operating lease right-of-use assets 817 647
Decrease in operating lease liabilities (832) (658)
Net amortization on investment securities 30 14
Unrealized holding loss on equity investment, net 401 414
Stock-based compensation 4,928 4,584
Increase in bank-owned life insurance value (409) (384)
Deferred tax provision (18,017) 4,399
Net change in CCBX receivable (11,409) (2,122)
Net change in CCBX credit enhancement asset (18,246) 4,149
Credit enhancement valuation adjustment 45,576 0
Net change in CCBX payable (8,713) 2,050
Net change in other assets and liabilities 18,725 (91)
Total adjustments 211,054 162,413
Net cash provided by operating activities 194,756 196,763
CASH FLOWS FROM INVESTING ACTIVITIES    
Net increase in FRB and FHLB securities (589) 0
Change in equity investments, net (3,279) (2,392)
Principal paydowns of investment securities available-for-sale 4 5
Principal paydowns of investment securities held-to-maturity 3,492 3,361
Purchase of intangible assets (125) 0
Purchase of bank owned life insurance (18) (18)
Proceeds from sales of loans held for sale 13,827,973 3,661,886
Purchase of loans and loan participations (40,278) (11,199)
Increase in loans receivable, net (14,442,267) (4,037,023)
Purchases of premises and equipment, net (6,398) (6,507)
Net cash used by investing activities (661,485) (391,887)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits, money market, and savings 537,203 391,576
Net decrease in time deposits (2,571) (4,345)
Proceeds from (payments for) exercise of stock options, net of shares withheld to cover (12) 48
Net cash for shares held to cover on restricted stock vesting (1,310) (2,482)
Proceeds from public offering, expense true-up 0 72
Net cash provided by financing activities 533,310 384,869
NET CHANGE IN CASH, DUE FROM BANKS AND RESTRICTED CASH 66,581 189,745
CASH, DUE FROM BANKS AND RESTRICTED CASH, beginning of year 736,970 452,513
CASH, DUE FROM BANKS AND RESTRICTED CASH, end of quarter 803,551 642,258
SUPPLEMENTAL SCHEDULE OF OPERATING AND INVESTING ACTIVITIES    
Interest paid 90,614 90,887
Income taxes paid 11,373 9,745
SUPPLEMENTAL SCHEDULE OF NONCASH TRANSACTIONS    
Lease liabilities arising from obtaining right-of-use assets 89 216
Transfer from loans to loans held for sale 13,896,408 3,684,181
Recognition of LIHTC investments and related unfunded capital commitments $ 2,500 $ 0