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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 25,076 $ 19,021
Adjustments to reconcile net income to net cash:    
Net depreciation amortization and accretion 872 1,161
Provision for credit losses 646 3,400
Stock-based compensation 2,222 1,519
Net change in deferred loan fees 362 1,037
Dividends earned on CRA fund (13) (6)
Unrealized (gain) loss on equity securities (26) 106
Net change in:    
Receivable from global payments, net 1,818 (22,265)
Third-party debit cardholder balances 523 15,245
Other assets (2,645) (1,692)
Other liabilities 10,193 13,356
Net cash provided by (used in) operating activities 39,028 30,882
Cash flows from investing activities    
Loan originations, purchases and payments, net (11,433) (390,546)
Redemptions of other investments 53,998  
Purchases of other investments (58,488) (3,991)
Purchase of securities held-for-investment   (95,822)
Proceeds from paydowns of securities available-for-sale 9,751 28,352
Proceeds from paydowns of securities held-to-maturity 8,741 9,858
Purchase of premises and equipment, net (980) (1,874)
Net cash provided by (used in) investing activities 1,589 (454,023)
Cash flows from financing activities    
Proceeds from issuance of federal funds purchased 45,000  
Proceeds from (repayments of) FHLB advances, net 100,000  
Proceeds from exercise of stock options 3,964  
Redemption of common stock for tax withholdings for restricted stock vesting (1,336) (1,191)
Redemption of subordinated debt   (24,712)
Proceeds from (repayments of) secured borrowings, net (36) (139)
Net increase (decrease) in deposits (146,124) (496,209)
Net cash provided by (used in) financing activities 1,468 (522,251)
Increase (decrease) in cash and cash equivalents 42,085 (945,392)
Cash and cash equivalents at the beginning of the period 257,418 2,359,350
Cash and cash equivalents at the end of the period 299,503 1,413,958
Cash paid for:    
Interest 24,768 4,787
Income Taxes $ 3,192 $ 2,725