v3.25.4
FAIR VALUE DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at estimated fair value on a recurring basis are summarized in the table below.
(Dollars in thousands)Fair Value Measurements UsingTotal
Fair Value
December 31, 2025Level 1Level 2Level 3
Assets measured at fair value on a recurring basis
Securities available for sale
Mortgage-backed securities, residential$— $88,500 $— $88,500 
Asset-backed securities— 811 — 811 
State and municipal— 2,589 — 2,589 
CLO securities— 271,074 — 271,074 
Corporate bonds— 263 — 263 
SBA pooled securities— 1,040 — 1,040 
$— $364,277 $— $364,277 
Equity securities with readily determinable fair values
Mutual fund$4,588 $— $— $4,588 
Loans held for sale$— $459 $— $459 
Revenue share asset$— $— $1,598 $1,598 
(Dollars in thousands)Fair Value Measurements UsingTotal
Fair Value
December 31, 2024Level 1Level 2Level 3
Assets measured at fair value on a recurring basis
Securities available for sale
Mortgage-backed securities, residential$— $84,185 $— $84,185 
Asset-backed securities— 905 — 905 
State and municipal— 3,063 — 3,063 
CLO Securities— 291,913 — 291,913 
Corporate bonds— 262 — 262 
SBA pooled securities— 1,233 — 1,233 
 $— $381,561 $— $381,561 
Equity securities with readily determinable fair values
Mutual fund$4,445 $— $— $4,445 
Loans held for sale$— $1,172 $— $1,172 
Revenue share asset$— $— $2,616 $2,616 
Schedule of Reconciliation of Fair Value of Contingent Consideration A reconciliation of the opening balance to the closing balance of the estimated fair value of the revenue share asset is as follows:
(Dollars in thousands)202520242023
Beginning balance$2,616 $2,516 $5,515 
Revenue share asset recognized — — — 
Change in estimated fair value of revenue share asset recognized in earnings(9)1,309 (1,743)
Revenue share payments received(1,009)(1,209)(1,256)
Ending balance$1,598 $2,616 $2,516 
Schedule of Fair Value of Assets Measured on Non-recurring Basis
Assets measured at estimated fair value on a non-recurring basis are summarized in the table below. There were no liabilities measured at fair value on a non-recurring basis at December 31, 2025 and 2024.
(Dollars in thousands)Fair Value Measurements UsingTotal
Fair Value
December 31, 2025Level 1Level 2Level 3
Collateral dependent loans
Commercial— — 5,515 5,515 
Factored receivables— — 2,072 2,072 
$— $— $7,587 $7,587 
(Dollars in thousands)Fair Value Measurements UsingTotal
Fair Value
December 31, 2024Level 1Level 2Level 3
Collateral dependent loans
Commercial real estate$— $— $745 $745 
Commercial— — 18,727 18,727 
Factored receivables— — 28,780 28,780 
$— $— $48,252 $48,252 
Schedule of Estimated Fair Value of Company's Financial Assets and Financial Liabilities
The estimated fair values of the Company’s financial instruments not measured at fair value on a recurring or non-recurring basis were as follows:
December 31, 2025
Carrying
Amount		Fair Value Measurements UsingTotal
Fair Value
(Dollars in thousands)Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$248,471 $248,471 $— $— $248,471 
Securities - held to maturity1,550 — — 1,878 1,878 
Loans not previously presented, gross4,983,720 31,254 — 4,903,148 4,934,402 
FHLB and other restricted stock14,253  N/A  N/A  N/A N/A
Accrued interest receivable46,254 46,254 — — 46,254 
Financial liabilities:
Deposits4,950,216 — 4,948,300 — 4,948,300 
Federal Home Loan Bank advances280,000 — 280,000 — 280,000 
Subordinated notes69,879 — 65,581 — 65,581 
Junior subordinated debentures42,991 — 44,021 — 44,021 
Accrued interest payable14,890 14,890 — — 14,890 
December 31, 2024
Carrying
Amount		Fair Value Measurements UsingTotal
Fair Value
(Dollars in thousands)Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$330,117 $330,117 $— $— $330,117 
Securities - held to maturity1,876 — — 2,514 2,514 
Loans not previously presented, gross4,505,408 49,860 — 4,389,000 4,438,860 
FHLB and other restricted stock14,054 N/AN/AN/AN/A
Accrued interest receivable41,940 41,940 — — 41,940 
Financial liabilities:
Deposits4,820,820 — 4,817,208 — 4,817,208 
Federal Home Loan Bank advances30,000 — 30,000 — 30,000 
Subordinated notes69,662 — 56,643 — 56,643 
Junior subordinated debentures42,352 — 43,835 — 43,835 
Accrued interest payable9,766 9,766 — — 9,766