v3.26.1
FAIR VALUE DISCLOSURES (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are summarized in the table below.
(Dollars in thousands)Fair Value Measurements UsingTotal
Fair Value
June 30, 2026Level 1Level 2Level 3
Assets measured at fair value on a recurring basis
Securities available for sale
Mortgage-backed securities, residential$— $80,408 $— $80,408 
Asset-backed securities— 743 — 743 
State and municipal— 2,588 — 2,588 
CLO securities— 183,183 — 183,183 
Corporate bonds— 260 — 260 
SBA pooled securities— 936 — 936 
$— $268,118 $— $268,118 
Equity securities with readily determinable fair values
Mutual fund$4,540 $— $— $4,540 
Loans held for sale$— $1,405 $— $1,405 
Revenue share asset$— $— $1,349 $1,349 
(Dollars in thousands)Fair Value Measurements UsingTotal
Fair Value
December 31, 2025Level 1Level 2Level 3
Assets measured at fair value on a recurring basis
Securities available for sale
Mortgage-backed securities, residential$— $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 
Schedule of Reconciliation of Fair Value of Revenue Share Asset A reconciliation of the opening balance to the closing balance of the fair value of the revenue share asset is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(Dollars in thousands)2026202520262025
Beginning balance$1,448 $2,507 $1,598 $2,616 
Revenue share asset recognized — — — — 
Change in fair value of revenue share asset recognized in earnings(190)101 (312)274 
Revenue share payments received(168)(264)(196)(546)
Other adjustments259 — 259 — 
Ending balance$1,349 $2,344 $1,349 $2,344 
Schedule of Fair Value of Assets Measured on Non-recurring Basis
Assets measured at fair value on a non-recurring basis are summarized in the table below. There were no liabilities measured at fair value on a non-recurring basis at June 30, 2026 and December 31, 2025.
(Dollars in thousands)Fair Value Measurements UsingTotal
Fair Value
June 30, 2026Level 1Level 2Level 3
Collateral dependent loans
1-4 family residential$— $— $56 $56 
Commercial— — 4,993 4,993 
Factored receivables— — 4,956 4,956 
$— $— $10,005 $10,005 
(Dollars in thousands)Fair Value Measurements UsingTotal
Fair Value
December 31, 2025Level 1Level 2Level 3
Collateral dependent loans
Commercial$— $— $5,515 $5,515 
Factored receivables— — 2,072 2,072 
$— $— $7,587 $7,587 
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 at June 30, 2026 and December 31, 2025 were as follows:
(Dollars in thousands)Carrying
Amount		Fair Value Measurements UsingTotal
Fair Value
June 30, 2026Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$896,811 $896,811 $— $— $896,811 
Securities - held to maturity977 — — 515 515 
Loans not previously presented, gross5,467,086 42,634 — 5,379,530 5,422,164 
FHLB and other restricted stock3,171  N/A  N/A  N/A N/A
Accrued interest receivable37,910 37,910 — — 37,910 
Financial liabilities:
Deposits6,217,389 — 6,214,443 — 6,214,443 
Subordinated notes69,979 — 67,726 — 67,726 
Junior subordinated debentures43,321 — 44,383 — 44,383 
Accrued interest payable8,274 8,274 — — 8,274 

(Dollars in thousands)Carrying
Amount		Fair Value Measurements UsingTotal
Fair Value
December 31, 2025Level 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/AN/AN/AN/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