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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income     $ 48,393 $ 33,938  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses $ 2,763 $ 1,085 5,343 4,545  
Changes in deferred tax, net     2,764 (1,252)  
Share-based compensation     1,158 1,240  
Loss on sale of investment securities available-for-sale   480 338 200  
Gain on sale of SBA loans     (74) (30)  
Write-up of other real estate owned     (213)    
Write-down of fixed assets     9    
Accretion of premium on securities, net     (1,538) (892)  
Accretion of gain on terminated cash flow hedges     (2,415) (2,029)  
Accretion of loan fees     (9,527) (5,349)  
Amortization of subordinated debt origination costs     154 155  
Depreciation and amortization     3,559 3,411  
Earnings on bank-owned life insurance (786) (649) (2,206) (1,818)  
Net change in operating leases     21 174  
Net change in derivative assets and liabilities     699 582  
Changes in operating assets and liabilities:          
Accrued interest receivable and other assets     (10,196) (6,840)  
Accrued interest payable and other liabilities     8,830 12,727  
Net cash provided by operating activities     45,099 38,762  
Cash flows from investing activities:          
Net increase (decrease) in interest bearing deposits in other banks     91 (353)  
Net purchase of non-marketable equity securities     (10,177) (8,287)  
Investment securities available-for-sale activity:          
Purchases     (5,155,118) (2,559,409)  
Sales   15,572 53,407 30,074  
Maturities, calls and principal paydowns     5,117,060 2,419,966  
Purchases of investment securities held-to-maturity     (206,074)    
Proceeds from termination of derivative instruments     1,506 5,412  
Net originations on loans held for investment     (199,496) (247,201)  
Net additions to bank premises and equipment     (1,580) (1,171)  
Proceeds from sales of foreclosed assets     655    
Purchase of bank owned life insurance     (5,000)    
Net cash used in investing activities     (404,726) (360,969)  
Cash flows from financing activities:          
Net increase in deposits     62,243 191,290  
Net advance (repayment) of line of credit - senior debt     2,000 (7,000)  
Registration of Series A Preferred Stock issued in 2022 Private Placement       (108)  
Forfeiture of restricted stock grants withheld to satisfy tax obligations     (32) (27)  
Proceeds from stock options exercised     779 216  
Dividends paid on Series A preferred stock     (3,553) (3,553)  
Net cash (used in) provided by financing activities     61,437 180,818  
Change in cash and cash equivalents     (298,190) (141,389)  
Cash and cash equivalents at beginning of period     421,202 411,845 $ 411,845
Cash and cash equivalents at end of period $ 123,012 $ 270,456 123,012 270,456 421,202
Supplemental Disclosures of Cash Flow Information:          
Cash paid for interest     118,039 123,011  
Cash paid for income taxes     8,685 3,211  
Supplemental Disclosure of Noncash Investing and Financing Activities:          
Loans transferred to other real estate owned, net     7,968 283 $ 940
Right of use lease assets obtained in exchange for operating lease liabilities     $ 381 $ 831