v3.26.1
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 $ 17,873 $ 11,958
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 7,800 18,446
Net premium amortization on securities 354 558
Depreciation and amortization 1,517 1,588
Stock-based compensation expense 658 790
Change in cash surrender value of bank owned life insurance (2,564) (2,450)
Securities gains, net (516) (64)
Gains on sale of loans, net (169) (3,785)
Losses on loans held for sale carried at the lower of cost or fair value 1,823 0
Deferred taxes and others 351 (2,972)
Proceeds from sales and repayments of loans held for sale (at fair value) 4,395 70,942
Originations and purchases of loans held for sale (at fair value) (2,189) (52,663)
Net changes in operating assets and liabilities:    
Accrued interest receivable and other assets (3,985) (3,606)
Accounts payable, accrued liabilities and other liabilities (14,426) (18,532)
Net cash provided by operating activities 10,922 20,210
Purchases of investment securities:    
Available for sale (542,485) (288,353)
Federal Home Loan Bank stock (1,000) (191)
Purchases of investment securities (543,485) (288,544)
Maturities, sales, calls and paydowns of investment securities:    
Available for sale 169,842 39,899
Federal Home Loan Bank stock 89 1,424
Maturities, sales, calls and paydowns of investment securities 169,931 41,323
Net (increase) decrease in loans (141,340) 25,339
Proceeds from sale of loans, net 74,144 7,992
Net purchases of premises and equipment and others (776) (2,211)
Purchase of bank owned life insurance 0 (7,000)
Net cash used in investing activities (441,526) (223,101)
Cash flows from financing activities    
Net increase in demand, savings and money market accounts 100,794 372,905
Net increase (decrease) in time deposits 51,373 (72,522)
Proceeds from advances from the Federal Home Loan Bank 20,000 0
Repayments of advances from the Federal Home Loan Bank 0 (30,000)
Repurchase of common stock - Class A (18,708) (5,000)
Dividend paid (3,709) (3,885)
Disbursements arising from stock-based compensation, net (594) (599)
Net cash provided by financing activities 149,156 260,899
Net (decrease) increase in cash and cash equivalents and restricted cash (281,448) 58,008
Cash, cash equivalents and restricted cash    
Beginning of period 470,155 590,359
End of period $ 188,707 $ 648,367

Source