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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income $ 26,386 $ 24,560 $ 49,955 $ 36,856  
Adjustments to reconcile income to net cash provided by operating activities:          
Provision for credit losses     8,300 17,700  
Depreciation and amortization on premises and equipment 2,068 1,814 4,103 3,601  
Deferred tax expense     4,677 2,502  
Amortization of net premium on securities     253 371  
Accretion of net discount on acquired loans     (851) (1,513)  
Net change in deferred loan origination fees and costs     2,302 (247)  
Amortization of core deposits and other intangible assets     1,206 1,467  
Amortization of premium on acquired deposits     (45) (243)  
Accretion of discount on subordinated debt     151 191  
Amortization of issuance costs on subordinated debt     73 73  
Increase in cash surrender value of bank-owned life insurance     (1,062) (932)  
Impairment of other real estate owned and foreclosed assets     642 53  
Federal Home Loan Bank stock dividends     (369) (351)  
Share-based compensation expense     1,692 1,264  
Decrease in fair value of mortgage servicing rights     6,295 1,254  
Net loss on disposal of premises and equipment     133 5  
Net loss (gain) on other real estate owned and foreclosed assets activity     0 (11)  
Net gain on sales of loans held-for-sale     (4,135) (3,595)  
Origination of loans held-for-sale     (641,544) (495,027)  
Proceeds from sales of loans held-for-sale     609,949 482,741  
Changes in operating assets and liabilities:          
Lease right-of-use assets     24 (7)  
Accrued interest receivable     (1,802) (793)  
Prepaid expenses and other assets     12,056 (1,750)  
Accrued interest payable     (1,458) (4,381)  
Accrued expenses and other liabilities     (4,084) 8,794  
Deferred tax assets     (5,100) 0  
Net cash provided by operating activities     41,361 48,022  
Cash flows from investing activities:          
Proceeds from maturities of held-to-maturity securities     725 729  
Purchases of available-for-sale securities     (20,772) (5,584)  
Proceeds from paydowns, sales or maturities of available-for-sale securities     20,246 31,311  
Loan originations, net of repayments     (155,142) (90,282)  
Purchases of premises and equipment     (4,001) (2,084)  
Proceeds from sales of other real estate owned and foreclosed assets     249 324  
Proceeds from bank-owned life insurance     0 725  
Purchases of restricted equity securities     (634) (42,462)  
Proceeds from the sale or redemption of restricted equity securities     5,143 50,039  
Purchase of other investments     (6,819) (11,041)  
Proceeds from the sale or redemption of other investments     486 399  
Net cash used in investing activities     (160,519) (67,926)  
Cash flows from financing activities:          
Net change in deposits     427,949 245,665  
Net change in securities sold under agreements to repurchase     (3,526) (4,285)  
Proceeds from Federal Home Loan Bank advances     293,000 2,049,410  
Repayments of Federal Home Loan Bank advances     (428,000) (2,293,878)  
Proceeds from issuance of common stock, net of issuance costs and taxes paid on cashless exercise of equity awards     (1,067) 79,396  
Net cash provided by financing activities     288,356 76,308  
Net increase in cash and cash equivalents     169,198 56,404  
Cash and cash equivalents, beginning of period     615,917 479,362 $ 479,362
Cash and cash equivalents, end of period $ 785,115 $ 535,766 785,115 535,766 615,917
Supplemental disclosures of cash flow information:          
Interest paid on deposits     72,973 79,093  
Interest paid on borrowed funds     2,754 6,080  
Cash paid for income taxes, net     9,720 5,277  
Non-cash investing and financing activities:          
Net change in unrealized gain (loss) on available-for-sale securities     4,575 2,496  
Loan charge-offs     14,409 19,966 $ 21,694
Loans transferred to other real estate owned and foreclosed assets     8,805 764  
Mortgage servicing rights resulting from sale or securitization of mortgage loans     $ 6,773 $ 5,297