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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 31,330 $ 55,522
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 1,136 2,370
Provision for credit losses 5,099 2,856
Stock-based compensation expense 3,223 3,204
Amortization of intangible assets 1,241 1,841
Origination of mortgage loans held for sale 1,318 13,685
Proceeds from sale of mortgage loans held for sale 1,344 13,729
Bank owned life insurance income (2,711) (2,280)
Gain on sale of mortgage loans held for sale, net (26) (307)
Loss on sale of investment securities available for sale, net 18,839 2,226
Other (12,813) 13,698
Gain on sale of premises and equipment 1,480 0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal 0 (610)
Net cash provided by operating activities 43,864 78,564
Cash flows from investing activities:    
Loan originations and purchases, net of payments 342,880 212,222
Maturities and repayments of investment securities available for sale 92,146 135,084
Maturities and repayments of investment securities held to maturity 19,393 18,876
Purchase of investment securities available for sale (33,132) (37,724)
Purchase of premises and equipment (2,657) (9,250)
Purchase of bank owned life insurance (39) 0
Proceeds from bank owned life insurance death benefit 1,157 0
Purchases of Federal Home Loan Bank stock (58,829) (45,588)
Proceeds from sales of investment securities available for sale 241,968 67,900
Proceeds from redemption of Federal Home Loan Bank stock 46,022 46,131
Proceeds from sales of assets held for sale 7,459 0
Proceeds from sales of premises and equipment 50 2
Capital contributions to LIHTC investments (12,568) (32,517)
Net cash paid related to branch divestiture 0 (13,826)
Net cash used by investing activities (41,910) (83,134)
Cash flows from financing activities:    
Net increase (decrease) in deposits 108,620 (274,988)
Proceeds from borrowings 1,319,710 1,789,700
Repayment of borrowings 1,437,710 1,339,700
Common stock cash dividends paid (23,921) (23,141)
Net decrease in securities sold under agreement to repurchase 0 (23,439)
Repurchase of common stock (18,054) (6,949)
Net cash (used) provided by financing activities (51,355) 121,483
Net (decrease) increase in cash and cash equivalents (49,401) 116,913
Cash and cash equivalents at beginning of period 224,973 103,590
Cash and cash equivalents at end of period 175,572 220,503
Supplemental disclosures of cash flow information:    
Cash paid for interest 84,048 29,921
Cash paid for income taxes, net of refunds 1,345 1,634
Supplemental non-cash disclosures of cash flow information:    
Investment in LIHTC partnership and related funding commitment 100 37,042
Right of use assets obtained in exchange for new operating lease liabilities 3,214 6,663
Transfer of bank owned life insurance to prepaid expenses and other assets due to death benefit accrued 0 700
Transfers of premises and equipment classified as held for sale to prepaid expenses and other assets from premises and equipment, net $ 0 $ 5,074