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 (loss) $ 49,716 $ (32,633)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Provision for credit losses 39,106 50,550
Net premium amortization on securities 1,757 4,049
Depreciation and amortization 4,626 4,866
Stock-based compensation expense 3,567 4,245
Change in cash surrender value of bank owned life insurance (7,494) (6,916)
Securities (gains) losses, net (3,046) 68,655
Derivative losses, net 3,235 196
Gains on sale of loans, net (5,257) (5,819)
Losses on loans held for sale carried at the lower of cost or fair value 881 1,258
Deferred taxes and others (1,103) 2,518
Gain on early extinguishment of advances from the FHLB, net 0 (189)
Proceeds from sales and repayments of loans held for sale (at fair value) 135,365 251,815
Originations and purchases of loans held for sale (at fair value) (100,400) (291,139)
Net changes in operating assets and liabilities:    
Accrued interest receivable and other assets 1,085 (34,459)
Accounts payable, accrued liabilities and other liabilities (21,540) (12,343)
Net cash provided by operating activities 100,498 4,654
Purchases of investment securities:    
Available for sale (794,586) (242,229)
Trading securities (118,444) 0
Federal Home Loan Bank stock (8,330) (45,910)
Purchases of investment securities (921,360) (288,139)
Maturities, sales, calls and paydowns of investment securities:    
Available for sale 151,860 228,933
Trading securities 1,555 9,622
Federal Home Loan Bank stock 3,800 32,600
Maturities, sales, calls and paydowns of investment securities 157,215 271,155
Proceeds from surrender of bank owned life insurance 0 62,741
Net decrease (increase) in loans 211,582 (788,643)
Proceeds from loan portfolio sales 58,340 469,934
Proceeds from sales of other real estate owned 2,661 0
Net purchases of premises and equipment and others (2,534) (6,609)
Proceeds from bank owned life insurance death benefit 0 1,232
Purchase of bank owned life insurance (7,000) 0
Net cash used in investing activities (501,096) (278,329)
Cash flows from financing activities    
Net increase in demand, savings and money market accounts 582,888 109,600
Net (decrease) increase in time deposits (136,514) 106,481
Proceeds from advances from the Federal Home Loan Bank 380,000 1,412,500
Repayments of advances from the Federal Home Loan Bank (293,387) (1,142,311)
Redemption of senior notes (60,000) 0
Repurchase of common stock - Class A (20,000) (7,556)
Net proceeds from issuance of common stock 0 155,750
Dividend paid (11,405) (9,038)
Disbursements arising from stock-based compensation, net (485) (1,782)
Net cash provided by financing activities 441,097 623,644
Net increase in cash and cash equivalents and restricted cash 40,499 349,969
Cash, cash equivalents and restricted cash    
Beginning of period 590,359 321,872
End of period 630,858 671,841
Cash paid:    
Interest 184,259 207,389
Income taxes 6,077 4,821
Right-of-use assets obtained in exchange for new lease obligations 6,999 0
Noncash investing activities:    
Transfer from debt securities held to maturity to debt securities available for sale 0 216,560
Mortgage loans held for sale (at fair value) transferred to loans held for investment 8,868 28,115
Loans transferred to other assets 1,893 0
Loans held for sale (at lower of cost or fair value) transferred to loans held for investment 40,597 0
Loans held for investment (at lower of cost or fair value) transferred to loans held for sale 40,597 560,161
Premises and equipment transferred to other assets 0 11,405
Right-of-use assets transferred to other assets $ 0 $ 15,368

Source

HTML PDF
ZIP