Fair Value (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Financial Assets and Liabilities Measured on Recurring Basis

The fair value of interest-only (“I/O”) strip receivable assets is based on a valuation model used by a third party. The Company is able to compare the valuation model inputs and results to widely available published industry data for reasonableness (Level 2 inputs).


			Fair Value Measurements Using
	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

	(Dollars in thousands)
Assets at December 31, 2025
Available-for-sale securities:
Agency mortgage-backed securities	$	280,919	$	—	$	280,919	$	—
Collateralized mortgage obligations	256,730		—		256,730		—
U.S. Treasury	55,309		55,309		—		—
I/O strip receivables	33		—		33		—

Assets at December 31, 2024
Available-for-sale securities:
U.S. Treasury	$	186,183	$	186,183	$	—	$	—
Agency mortgage-backed securities	70,091		—		70,091		—
I/O strip receivables	82		—		82		—

Schedule of Carrying Amounts and Estimated Fair Values of the Company's Financial Instruments

The carrying amounts and estimated fair values of financial instruments at December 31, 2025 are as follows:


				Estimated Fair Value
	Carrying Amounts			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total

	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	647,028		$	647,028	$	—	$	—	$	647,028
Securities available-for-sale	592,958			55,309		537,649		—		592,958
Securities held-to-maturity	529,711			—		465,767		—		465,767
Loans (including loans held-for-sale)	3,654,382		(1)	—		1,322		3,501,954		3,503,276
FHLB stock, FRB stock, and other
investments	32,568			—		—		—		N/A
Accrued interest receivable	16,379			510		3,124		12,745		16,379
I/O strips receivables	33			—		33		—		33
Liabilities:
Time deposits	$	528,240		$	—	$	528,990	$	—	$	528,990
Other deposits	4,374,846			—		4,374,846		—		4,374,846
Subordinated debt	39,805			—		37,605		—		37,605
Accrued interest payable	5,746			—		5,746		—		5,746

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(1)Before allowance for credit losses on loans of $49,999,000.

_______________________________________________________

The carrying amounts and estimated fair values of financial instruments at December 31, 2024 are as follows:


				Estimated Fair Value
	Carrying Amounts			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total

	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	968,123		$	968,123	$	—	$	—	$	968,123
Securities available-for-sale	256,274			186,183		70,091		—		256,274
Securities held-to-maturity	590,016			—		497,012		—		497,012
Loans (including loans held-for-sale)	3,494,312		(1)	—		2,375		3,304,196		3,306,571
FHLB stock, FRB stock, and other
investments	32,556			—		—		—		N/A
Accrued interest receivable	14,940			506		2,141		12,293		14,940
I/O strips receivables	82			—		82		—		82
Liabilities:
Time deposits	$	564,447		$	—	$	566,695	$	—	$	566,695
Other deposits	4,255,584			—		4,255,584		—		4,255,584
Subordinated debt	39,653			—		34,853		—		34,853
Accrued interest payable	6,350			—		6,350		—		6,350

_______________________________________________________

(1)Before allowance for credit losses on loans of $48,953,000.