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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 40,283 $ 18,352  
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Provision for credit loss expense (release) 900 (322)  
Depreciation and amortization 5,117 3,422  
Change in current income tax receivable 9,551 1,398  
Change in deferred income taxes 3,392 (7,750)  
Discount accretion, net of premium amortization on securities (116) 724  
Gain on sale of mortgages, net (2,370) (8,409)  
Origination of loans held for sale, net of repayments (99,105) (282,614)  
Proceeds from sales of loans held for sale 97,311 342,071  
Originations of mortgage serving rights (275) (1,679)  
Gain on sale of fixed assets   (696)  
Stock-based compensation 1,427 1,151  
Operating lease payments (1,411) (1,201)  
Change in other assets (49,455) (3,017)  
Change in other liabilities (24,044) (12,669)  
Net cash (used in) provided by operating activities (18,795) 48,761  
Cash flows from investing activities:      
Proceeds from non-marketable securities 4,662 60  
Proceeds from maturities of investment securities available-for-sale 22,502 39,108  
Proceeds from maturities of investment securities held-to-maturity 16,201 41,422  
Proceeds from sales of other real estate owned 249 2,068  
Purchase of non-marketable securities (35,901) (4,027)  
Purchase of investment securities available-for-sale 0 (179,369)  
Purchase of investment securities held-to-maturity (2,451) 0  
(Purchases) sales of premises and equipment, net (6,701) 420  
Net increase in loans (122,451) (140,033)  
Net cash used in investing activities (123,890) (240,351)  
Cash flows from financing activities:      
Net (decrease) increase in deposits (291,138) 136,637  
Net increase in repurchase agreements and other short-term borrowings 1,278 1,976  
Advances from the Federal Home Loan Bank 990,000    
Federal Home Loan Bank repayments (375,000)    
Issuance of stock under purchase and equity compensation plans (237) (760)  
Proceeds from exercise of stock options   8  
Payment of dividends (9,532) (7,092)  
Net cash provided by financing activities 315,371 130,769  
Increase (decrease) in cash, cash equivalents and restricted cash(1) 172,686 (60,821)  
Cash, cash equivalents and restricted cash at beginning of the year(1) 198,519 850,220 $ 850,220
Cash, cash equivalents and restricted cash at end of period(1) 371,205 789,399 $ 198,519
Supplemental disclosure of cash flow information during the period:      
Cash paid for interest 15,348 2,269  
Net tax payments 37 89  
Supplemental schedule of non-cash activities:      
Increase in loans purchased but not settled   22,739  
Loans transferred from loans held for sale to loans $ 2,337 $ 2,058