v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 62,201 $ 80,041 $ 101,394
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,464 6,793 12,384
Amortization of servicing assets - net 2,749 2,456 2,672
Share-based compensation expense 3,575 2,681 2,595
Credit loss expense 4,419 4,342 836
Loss on sales of securities   1,871  
Gain on sales of SBA loans (6,112) (5,701) (9,478)
Origination of SBA loans held for sale (135,806) (104,998) (150,825)
Proceeds from sales of loans 137,743 104,250 165,587
Gain on sales of residential loans 1,469    
Change in bank-owned life insurance (833) (791) (639)
Gain on sale of fixed assets (816) (3,957)  
Change in prepaid expenses and other assets 5,779 (28,938) (24,612)
Change in income tax assets (9,716) 9,783 24,688
Valuation adjustment on servicing assets   (385) 385
Change in accrued interest payable and other liabilities (17,171) 40,352 22,321
Net cash provided by operating activities 53,945 107,799 147,308
Cash flows from investing activities:      
Purchases of securities available for sale (196,361) (106,971) (166,564)
Proceeds from matured, called and repayment of securities 156,160 105,848 105,979
Proceeds from sales of securities available for sale   8,149  
Purchases of loans receivable (75,159) (9,657) (11,200)
Proceeds from sales of mortgage loans 50,352    
Purchases of premises and equipment (2,620) (2,419) (1,926)
Proceeds from disposition of premises and equipment 2,803 7,229  
Proceeds from sales of other real estate owned ("OREO") 2,273   809
Change in loans receivable, excluding purchases and sales (44,921) (212,173) (808,604)
Net cash used in investing activities (107,473) (209,994) (881,506)
Cash flows from financing activities:      
Change in deposits 155,202 112,502 381,803
Change in open FHLB advances 12,500 (25,000) 212,500
Proceeds from FHLB term advances 50,000    
Repayments of FHLB term advances (125,000)   (87,300)
Proceeds from exercise of stock options 582   19
Cash paid for employee vested shares surrendered due to employee tax liability (586) (785) (732)
Repurchase of common stock (6,314) (4,084)  
Cash dividends paid (30,380) (30,535) (28,636)
Net cash provided by financing activities 56,004 52,098 477,654
Net increase (decrease) in cash and due from banks 2,476 (50,097) (256,544)
Cash and due from banks at beginning of year 302,324 352,421 608,965
Cash and due from banks at end of period 304,800 302,324 352,421
Supplemental disclosures of cash flow information:      
Interest expense paid 200,491 116,543 29,535
Income taxes paid 41,674 16,536 12,728
Non-cash activities:      
Transfer of fixed assets to other real estate owned 655   117
Transfer of loans to loans held for sale 45,501    
Income tax (expense) benefit related to other comprehensive income items (482) (6,915) 32,552
Change in right-of-use asset obtained in exchange for lease liability $ 4,254 8,109 $ 408
Cashless exercise of stock options   $ 821  

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