v3.26.1
Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Securities Available-for-Sale
The amortized cost and fair value of securities available for sale are as follows:

As of June 30, 2026
(dollars in thousands)		Amortized Cost
Allowance for credit losses(1)
Gross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Available-for-sale:
Mortgage-backed securities$573,620 $— $1,057 $(56,793)$517,884 
Utah Housing Corporation bonds2,246 — — (229)2,017 
U.S. government-sponsored enterprises and Treasuries449,531 — — (3,115)446,416 
Other securities749,892 — 9,297 (8,794)750,395 
Total $1,775,289 $— $10,354 $(68,931)$1,716,712 
As of December 31, 2025
(dollars in thousands)		Amortized Cost
Allowance for credit losses(1)
Gross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Available-for-sale:
Mortgage-backed securities$545,550 $— $3,045 $(54,371)$494,224 
Utah Housing Corporation bonds2,490 — — (334)2,156 
U.S. government-sponsored enterprises and Treasuries649,087 — — (9,581)639,506 
Other securities615,281 — 14,344 (7,441)622,184 
Total $1,812,408 $— $17,389 $(71,727)$1,758,070 
(1) Represents the amount of impairment that has resulted from credit-related factors and that was recognized in the consolidated balance sheets (as a credit loss expense on available-for-sale securities). The amount excludes unrealized losses related to non-credit factors.
Schedule of Available-for-Sale Securities, Continuous Unrealized Loss Position, Fair Value
The following table summarizes the amount of gross unrealized losses for our available-for-sale securities and the estimated fair value for securities having gross unrealized loss positions, categorized by length of time the securities have been in an unrealized loss position:

(Dollars in thousands)		Less than 12 months12 months or moreTotal
Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value
As of June 30, 2026:
Mortgage-backed securities$(1,908)$146,688 $(54,885)$260,353 $(56,793)$407,041 
Utah Housing Corporation bonds— — (229)2,017 (229)2,017 
U.S. government-sponsored enterprises and Treasuries— — (3,115)446,416 (3,115)446,416 
Other securities(1,145)152,469 (7,649)96,174 (8,794)248,643 
Total$(3,053)$299,157 $(65,878)$804,960 $(68,931)$1,104,117 
As of December 31, 2025:
Mortgage-backed securities$(164)$10,896 $(54,207)$275,703 $(54,371)$286,599 
Utah Housing Corporation bonds— — (334)2,156 (334)2,156 
U.S. government-sponsored enterprises and Treasuries— — (9,581)639,506 (9,581)639,506 
Other securities(31)11,913 (7,410)119,191 (7,441)131,104 
Total$(195)$22,809 $(71,532)$1,036,556 $(71,727)$1,059,365 
Schedule of Amortized Cost and Fair Value of Securities by Contractual Maturities
As of June 30, 2026, the amortized cost and fair value of securities, by contractual maturities, are summarized below. Contractual maturities versus actual maturities may differ due to the effect of prepayments.
As of June 30, 2026
Year of Maturity
(dollars in thousands)
Amortized CostEstimated Fair Value
2026$349,905 $347,731 
202799,626 98,685 
203861 61 
2039491 482 
20421,598 1,397 
20433,112 2,804 
20443,364 3,072 
20454,098 3,661 
20466,214 5,475 
20475,716 5,104 
20481,634 1,532 
204912,673 11,270 
205091,084 73,038 
2051128,469 101,505 
205247,647 42,118 
2053254,273 254,067 
2054223,676 220,255 
2055223,206 222,778 
2056289,349 291,837 
205829,093 29,840 
Total$1,775,289 $1,716,712