v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income before attribution of noncontrolling interest $ 30,789 $ 61,963 $ 110,311
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Provision for (reversal of) credit losses 61,277 13,945 (16,500)
Net premium amortization on securities and other short-term investments 4,850 8,537 12,596
Depreciation and amortization 6,842 5,883 7,269
Stock-based compensation expense 6,775 5,788 4,782
Losses on loans held for sale carried at the lower of cost or fair value 43,057 159 0
Loans on sale of repossessed assets 2,649 0 0
Impairment on investment carried at cost 1,963 0 0
Change in cash surrender value of bank owned life insurance (5,173) (5,406) (5,459)
Securities losses (gains), net 10,989 3,689 (3,740)
Derivative gains, net (28) (455) 0
(Gain) loss on sale of loans, net (4,355) 320 (4,276)
Net gain on sale of headquarters building 0 0 (62,387)
Net loss on sale of premises and equipment 0 0 71
Deferred taxes and others (5,508) 4,998 6,000
(Gain) loss on early extinguishment of advances from the FHLB, net (40,084) (10,678) 2,488
Proceeds from sales and repayments of mortgage loans originated for sale (at fair value) 286,504 143,082 20,859
Originations and purchases of mortgage loans originated for sale (at fair value) (343,524) (286,715) (35,108)
Net changes in operating assets and liabilities      
Accrued interest receivable and other assets (34,449) (15,348) (4,432)
Account payable, accrued liabilities and other liabilities 4,147 21,078 34,957
Net cash provided by (used in) operating activities 26,721 (49,160) 67,431
Purchases of investment securities:      
Available for sale (264,094) (266,667) (425,864)
Held to maturity 0 (140,028) (100,403)
Federal Home Loan Bank stock (83,119) (38,044) (4,565)
Equity securities with readily determinable fair value not held for trading (2,500) (12,656) 0
Purchases of investment securities (349,713) (457,395) (530,832)
Maturities, sales, calls, paydowns and redemptions of investment securities:      
Available for sale 104,191 246,394 446,436
Held to maturity 14,718 15,354 39,695
Federal Home Loan Bank stock 88,400 29,964 22,110
Equity securities with readily determinable fair value not held for trading 11,168 252 23,470
Maturities, sales, calls and paydowns of investment securities 218,477 291,964 531,711
Net proceeds from sale of headquarters building 0 0 132,360
Net (increase) decrease in loans (509,687) (1,311,608) 93,321
Proceeds from loan portfolio sales 109,224 84,029 166,329
Purchase of bank owned life insurance (65,015) 0 0
Purchases of premises and equipment and others (10,933) (10,629) (6,577)
Proceeds from sales of premises and equipment 535 0 28
Proceeds from sales of repossessed assets and other real estate owned 2,464 6,393 16
Cash paid in business acquisition, net (1,970) 0 (1,037)
Net cash (used in) provided by investing activities (606,618) (1,397,246) 385,319
Cash flows from financing activities      
Net increase in demand, savings and money market accounts 281,822 1,022,913 602,950
Net increase (decrease) in time deposits 568,842 390,415 (703,722)
Proceeds from advances from the Federal Home Loan Bank 1,955,000 1,130,000 485,500
Repayments of advances from the Federal Home Loan Bank (2,176,977) (1,024,322) (729,618)
Proceeds from issuance of subordinated notes, net of issuance costs 0 29,146 0
Repurchase of common stock - Class A (4,933) (72,060) (36,332)
Dividends paid (12,063) (12,230) 0
Repurchase of common stock - Class B 0 0 (9,563)
Disbursements arising from stock based compensation, net (523) (1,063) (2,143)
Net cash provided by (used in) financing activities 611,168 1,462,799 (392,928)
Net increase in cash and cash equivalents and restricted cash 31,271 16,393 59,822
Cash and cash equivalents and restricted cash      
Beginning of period 290,601 274,208 214,386
End of period 321,872 290,601 274,208
Supplemental disclosures of cash flow information      
Cash paid for Interest 211,769 67,295 46,327
Cash paid for Income taxes 24,966 27,537 14,538
Initial recognition of operating lease right-of-use assets 0 0 55,670
Initial recognition of operating lease liabilities 0 0 56,024
Right-of-use assets obtained in exchange for new lease obligations 12,001 8,887 91,797
Noncash investing activities:      
Surrender of bank owned life insurance receivable from former insurance carrier 63,628 0 0
Mortgage loans held for sale (at fair value) transferred to loans held for investment 98,918 96,233 0
Loans held for sale (at lower cost or fair value) transferred to loans held for investment 0 65,802 0
Loans held for investment transferred to loans held for sale (at lower of fair value or cost) 449,563 0 256,154
Net transfers from premises and equipments to operating lease right-of-use assets 0 0 69,931
Loans transferred to other assets $ 26,534 $ 0 $ 9,400

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