v3.25.3
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 42,133 $ 23,439
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 10,977 9,892
Provision for credit losses on unfunded commitments 217 263
Provision for (release of) mortgage put-back reserve, net 53 (53)
Net (accretion) amortization on investment securities available-for-sale (39) 53
Premises and equipment depreciation 900 246
Lease asset amortization (reversal) 1,274 (997)
Amortization of intangible assets 784 0
Increase in cash surrender value of BOLI (1,149) (1,068)
Net decrease in loan servicing assets 1,334 0
Executive long-term incentive plan expense 682 428
Stock-based compensation expense 1,230 1,422
Director and employee compensation paid in Company stock 1,029 523
Deferred income tax expense (benefit) 1,547 (31)
Valuation allowance on derivatives 695 9
Increase in valuation of loans held for sale carried at fair value (45) (32)
Proceeds from sales of loans held for sale 267,575 161,320
Originations of loans held for sale (261,717) (173,361)
Government lending revenue (4,222) 0
Changes in assets and liabilities:    
Accrued interest receivable (2,347) (974)
Taxes payable (4,985) (329)
Other assets (379) (15,551)
Accrued interest payable (1,348) 2,920
Other liabilities (2,931) 903
Net cash provided by operating activities 51,268 9,022
Cash flows from investing activities    
Purchases of securities available-for-sale (35,160) (33,130)
Proceeds from calls and maturities of securities available-for-sale 32,359 38,730
Net purchases of restricted investments (2,578) (1,542)
Net increase in portfolio loans receivable (202,116) (210,811)
Net purchases of premises and equipment (1,953) (139)
Net cash used in investing activities (209,448) (206,892)
Net increase (decrease) in:    
Noninterest-bearing deposits 46,615 100,747
Interest-bearing deposits 103,499 189,481
Federal Home Loan Bank advances 0 30,000
Other borrowed funds 0 (15,000)
Dividends paid (5,315) (3,618)
Repurchase of common stock (3,175) (1,399)
Net proceeds from exercise of stock 85 395
Net cash provided by financing activities 141,709 300,606
Net (decrease) increase in cash and cash equivalents (16,471) 102,736
Cash and cash equivalents, beginning of year 205,332 53,964
Cash and cash equivalents, end of period 188,861 156,700
Noncash investing and financing activities:    
Change in unrealized gains on investments 6,170 6,024
Goodwill measurement period adjustment 4,657 0
Cash paid during the period for:    
Taxes 15,940 8,471
Interest $ 47,872 $ 38,255