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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net income $ 31,895 $ 31,464
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,894 2,205
Accretion of discounts on securities, net (4,506) (807)
Amortization of operating lease ROUAs 2,590 2,234
Other amortization and accretion, net 3,242 1,983
Stock-based compensation 4,480 3,038
Origination of loans designated for sale (68,084) (15,964)
Sale of loans designated for sale 67,980 18,778
Provision for credit losses 761 9,250
Deferred income taxes 4,052 857
Losses (gains) on securities 39,528 (196)
Gains on sale of loans (1,728) (1,992)
Losses on sale and write-downs of OREO 0 134
Losses on disposition of fixed assets and write-downs upon transfer of bank premises to OREO 176 86
Changes in operating assets and liabilities:    
Net decrease (increase) in other assets 815 (8,048)
Net decrease in other liabilities (12,310) (12,016)
Net cash provided by operating activities 71,785 31,006
Cash Flows from Investing Activities    
Maturities and repayments of debt securities AFS 201,067 121,302
Maturities and repayments of debt securities HTM 10,002 10,575
Proceeds from sale of debt securities AFS 277,155 0
Purchases of debt securities AFS (420,310) (485,904)
Maturities and redemptions of time deposits with other banks 11,934 1,721
Net new loans and principal repayments (9,557) (161,430)
Proceeds from the sale of loans held for investment 0 14,532
Proceeds from sale of OREO 0 97
Proceeds from sale of FHLB and Federal Reserve Bank stock 15,683 9,026
Purchase of FHLB and Federal Reserve Bank stock (15,694) (20,020)
Additions to bank premises and equipment (2,299) (3,214)
Net cash provided by (used in) investing activities 67,981 (513,315)
Cash Flows from Financing Activities    
Net increase in deposits 381,606 332,369
Net decrease in repurchase agreements (11,543) (30,943)
Net decrease in FHLB borrowings with original maturities of three months or less (90,000) 0
Repayments of FHLB borrowings with original maturities of more than three months (130,000) 0
Proceeds from FHLB borrowings with original maturities of more than three months 160,000 220,000
Stock-based employee benefit plans 840 289
Repurchase of common stock (10,000) 0
Dividends paid (20,835) (15,441)
Net cash provided by financing activities 280,068 506,274
Net increase in cash and cash equivalents 419,834 23,965
Cash and cash equivalents at beginning of period 388,545 476,607
Cash and cash equivalents at end of period 808,379 500,572
Supplemental disclosure of cash flow information:    
Cash paid for interest 77,586 68,270
Cash paid for taxes, net 60 0
Recognition of operating lease ROUAs, other than through bank acquisitions, net of terminations 1,307 7,866
Recognition of operating lease liabilities, other than through bank acquisitions, net of terminations 1,307 7,866
Supplemental disclosure of non-cash investing activities:    
Transfers from loans to OREO [1] $ 0 $ 986
[1]
1See "Note 11 – Business Combinations" for non-cash transactions related to business combinations.