XML 26 R9.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities      
Net income $ 111,048 $ 76,215 $ 104,131
Reconciliation of net income to net cash provided by operating activities:      
Provision for credit losses 11,502 16,448 17,813
Net security premium amortization 5,142 8,628 9,337
Deferred income taxes, net 30,917 (4,869) (782)
Loan discount accretion (7,438) (10,718) (13,277)
Deposit and debt discount accretion, net 1,087 1,593 3,943
Foreclosed real estate gains, net 261 (245) (150)
Securities losses, net 71,627 37,981 0
Other (gains) losses, net (8,660) (633) (1,857)
Bank-owned life insurance income (5,113) (4,773) (4,350)
Net amortization of deferred loan costs/(fees) 450 (1,366) (1,225)
Depreciation of premises and equipment 6,793 7,760 7,754
Amortization of operating lease right-of-use assets 1,323 1,815 2,100
Repayments of lease obligations (1,257) (1,738) (1,988)
Stock-based compensation expense 3,763 4,920 5,125
Amortization of intangible assets 5,672 6,604 8,003
Amortization and impairment of SBA servicing assets 1,141 1,699 1,356
Gains on sale of loans (2,891) (5,922) (4,102)
Origination of presold mortgage loans and SBA loans held for sale (92,058) (133,352) (137,483)
Proceeds from sales of presold mortgage loans and SBA loans 100,428 174,541 124,887
Increase (decrease) in accrued interest receivable (2,877) 1,022 (1,904)
(Increase) decrease in other assets (6,220) (5,396) 12,435
(Decrease) increase in accrued interest payable (857) (1,095) 2,579
(Decrease) increase in other liabilities (20,652) 5,662 (949)
Net cash provided by (used in) operating activities 203,131 174,781 131,396
Cash Flows From Investing Activities      
Purchases of securities available for sale (585,084) (494,895) (1,169)
Proceeds from maturities, calls and principal repayments of securities available for sale 216,476 243,029 165,358
Proceeds from maturities, calls and principal repayments of securities held to maturity 2,525 8,272 3,453
Proceeds from sales of securities available for sale 464,652 385,125 111,863
Proceeds from sale of VISA B shares 0 4,522 0
Purchases of Federal Reserve and FHLB stock (399) (39,697) (85,819)
Redemptions of Federal Reserve and FHLB stock 0 52,990 70,928
Proceeds from bank owned life insurance death benefits 287 210 137
Purchases of other investments (29,927) (6,824) (9,754)
Net (increase) decrease in loans (638,661) 17,494 (466,488)
Proceeds from sales of foreclosed real estate 5,052 758 967
Purchases of premises and equipment (4,245) (2,657) (4,421)
Proceeds from sales of premises and equipment 7,255 1,339 970
Net cash received in acquisition activities 0 0 22,610
Net cash provided by (used in) investing activities (562,069) 169,666 (191,365)
Cash Flows From Financing Activities      
Net increase (decrease) in deposits 217,552 498,100 (244,339)
Proceeds from the issuance of FHLB and FRB borrowings 2,000 986,000 3,348,000
Repayment of FHLB and FRB borrowings (2,050) (1,515,049) (3,044,991)
Repayment of subordinated debentures (18,000) (10,000) 0
Cash dividends paid – common stock (37,284) (36,249) (34,940)
Repurchases of common stock (991) 0 0
Proceeds from stock option exercises 1,491 4,094 4,519
Payment of taxes related to stock withheld (1,692) (1,691) (743)
Net cash provided (used) by financing activities 161,026 (74,795) 27,506
(Decrease) increase in cash and cash equivalents (197,912) 269,652 (32,463)
Cash and Cash Equivalents, beginning of year 507,507 237,855 270,318
Cash and Cash Equivalents, end of year 309,595 507,507 237,855
Supplemental Disclosures of Cash Flow Information:      
Cash paid during the period for interest 159,156 186,894 135,704
Cash paid during the period for income taxes 11,020 33,500 29,734
Cash paid during the period for the purchase of transferable tax credits 9,337 0 0
Non-cash:  Unrealized gain (loss) on securities available for sale, net of taxes 132,818 25,839 34,064
Non-cash:  Foreclosed loans transferred to foreclosed real estate 1,774 4,551 1,036
Non-cash: Accrued dividends at end of period 9,537 9,105 9,046
Non-cash: Cancellation of operating lease right-of-use assets and operating lease liabilities 0 (1,497) 0
Non-cash: Initial recognition of operating lease right-of-use assets and liabilities 939 0 260
Non-cash: Revision of operating lease right-of-use assets and operating lease liabilities 0 0 (562)
Non-cash: Affordable housing investments obtained in exchange for funding commitments $ 130,743 $ 0 $ 0