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 (loss) income before attribution of noncontrolling interest $ (15,752) $ 30,789 $ 61,963
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities      
Provision for credit losses 60,460 61,277 13,945
Net premium amortization on securities 4,563 4,850 8,537
Depreciation and amortization 6,600 6,842 5,883
Stock-based compensation expense 5,047 6,775 5,788
Losses on loans held for sale carried at the lower of cost or fair value 13,900 43,057 159
Loans on sale of repossessed assets 0 2,649 0
Impairment on investment carried at cost 0 1,963 0
Change in cash surrender value of bank owned life insurance (9,280) (5,173) (5,406)
Securities losses, net 76,855 10,989 3,689
Derivative losses (gains), net 196 (28) (455)
(Gain) loss on sale of loans, net (8,140) (4,355) 320
Gain on sale of Houston Franchise (12,636) 0 0
Losses on loans held for sale carried at the lower of cost or fair value 0 0 0
Deferred taxes and others 165 (5,508) 4,998
Gain on early extinguishment of advances from the FHLB, net (1,617) (40,084) (10,678)
Proceeds from sales and repayments of mortgage loans originated for sale (at fair value) 380,810 286,504 143,082
Originations and purchases of mortgage loans originated for sale (at fair value) (419,145) (343,524) (286,715)
Net changes in operating assets and liabilities      
Accrued interest receivable and other assets 3,776 (34,449) (15,348)
Account payable, accrued liabilities and other liabilities (3,608) 4,147 21,078
Net cash provided by (used in) operating activities 82,194 26,721 (49,160)
Purchases of investment securities:      
Available for sale (735,610) (264,094) (266,667)
Held to maturity 0 0 (140,028)
Federal Home Loan Bank and Federal Reserve Bank stock (51,034) (83,119) (38,044)
Equity securities with readily determinable fair value not held for trading 0 (2,500) (12,656)
Purchases of investment securities (786,644) (349,713) (457,395)
Maturities, sales, calls, paydowns and redemptions of investment securities:      
Available for sale 694,080 104,191 246,394
Held to maturity 9,622 14,718 15,354
Federal Home Loan Bank and Federal Reserve Bank stock 43,050 88,400 29,964
Equity securities with readily determinable fair value not held for trading 0 11,168 252
Maturities, sales, calls and paydowns of investment securities 746,752 218,477 291,964
Proceeds from surrender of bank owned life insurance 62,741 0 0
Net increase in loans (1,062,783) (509,687) (1,311,608)
Proceeds from loan portfolio sales 543,146 109,224 84,029
Purchase of bank owned life insurance 0 (65,015) 0
Net cash transferred on sale of Houston Franchise (73,912) 0 0
Purchases of premises and equipment and others (7,401) (10,933) (10,629)
Proceeds from sales of premises and equipment 205 535 0
Proceeds from sales of repossessed assets and other real estate owned 0 2,464 6,393
Cash paid in business acquisition, net 0 (1,970) 0
Proceeds from bank owned life insurance death benefit 1,232 0 0
Net cash used in investing activities (576,664) (606,618) (1,397,246)
Cash flows from financing activities      
Net increase in demand, savings and money market accounts 256,946 281,822 1,022,913
Net increase in time deposits 270,595 568,842 390,415
Proceeds from advances from the Federal Home Loan Bank 1,462,500 1,955,000 1,130,000
Repayments of advances from the Federal Home Loan Bank (1,360,883) (2,176,977) (1,024,322)
Proceeds from issuance of subordinated notes, net of issuance costs 0 0 29,146
Repurchase of common stock - Class A (7,556) (4,933) (72,060)
Dividends paid (12,819) (12,063) (12,230)
Proceeds from issuance of common stock 155,750 0 0
Disbursements arising from stock based compensation, net (1,576) (523) (1,063)
Net cash provided by financing activities 762,957 611,168 1,462,799
Net increase in cash and cash equivalents and restricted cash 268,487 31,271 16,393
Cash and cash equivalents and restricted cash      
Beginning of period 321,872 290,601 274,208
End of period 590,359 321,872 290,601
Cash paid:      
Interest 272,308 211,769 67,295
Income taxes 4,861 24,966 27,537
Right-of-use assets obtained in exchange for new lease obligations 2,790 12,001 8,887
Noncash investing activities:      
Surrender of bank owned life insurance receivable from former insurance carrier 0 63,628 0
Mortgage loans held for sale (at fair value) transferred to loans held for investment 29,866 98,918 96,233
Loans held for sale (at lower cost or fair value) transferred to loans held for investment 0 0 65,802
Loans held for investment transferred to loans held for sale (at lower of fair value or cost) 568,328 449,563 0
Transfer from debt securities held to maturity to debt securities available for sale 216,560 0 0
Premises and equipment transferred to other assets 11,405 0 0
Right-of-use assets transferred to other assets 15,368
Operating lease liability transferred to other liabilities 15,520
Loans transferred to other assets $ 3,409 $ 26,534 $ 0

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