v3.26.1
INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities Classified as Available for Sale
Investment securities available for sale at June 30, 2026 and December 31, 2025 were as follows:
June 30, 2026
(dollars in thousands)Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities
$37,522 $102 $(100)$37,524 
Mortgage-backed securities - agency (1)
1,390,919 4,114 (88,688)1,306,345 
Mortgage-backed securities - non-agency94,088 1,118 (2,444)92,762 
Asset-backed student loans19,201 2 (73)19,130 
State and municipal securities74,999 506 (4,073)71,432 
Collateralized loan obligations84,552 1 (67)84,486 
Corporate securities42,697 122 (1,038)41,781 
Total available for sale securities$1,743,978 $5,965 $(96,483)$1,653,460 
(1)The amount of fair value hedging adjustment included in the amortized cost amount of the hedged investment securities available-for-sale as of June 30, 2026 was $0.8 million. See Note 6 - Derivative Instruments for additional information regarding these derivative financial instruments.

December 31, 2025
(dollars in thousands)Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities$20,744 $7 $(928)$19,823 
Mortgage-backed securities - agency (1)
1,265,954 3,272 (75,476)1,193,750 
Mortgage-backed securities - non-agency97,921 1,499 (2,331)97,089 
Asset-backed student loans34,262 39 (86)34,215 
State and municipal securities77,054 388 (3,984)73,458 
Collateralized loan obligations46,800 54 — 46,854 
Corporate securities60,075 69 (2,332)57,812 
Total available for sale securities$1,602,810 $5,328 $(85,137)$1,523,001 
(1)The amount of fair value hedging adjustment included in the amortized cost amount of the hedged investment securities available-for-sale as of December 31, 2025 was $(2.3) million. See Note 6 - Derivative Instruments for additional information regarding these derivative financial instruments.
Schedule of Debt Securities, Available-for-sale
The table below shows the amortized cost and fair value of the investment securities portfolio by contractual maturity for all securities other than mortgage-backed securities, as of June 30, 2026. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
(dollars in thousands)Amortized
cost		Fair
value
Investment securities available for sale
Within one year$3,737 $3,756 
After one year through five years48,294 46,438 
After five years through ten years74,359 71,866 
After ten years132,581 132,293 
Mortgage-backed securities1,485,007 1,399,107 
Total available for sale securities$1,743,978 $1,653,460 
    
Proceeds and gross realized gains and losses on sales of investment securities available for sale for the six months ended June 30, 2026 and 2025 are summarized as follows:
Six Months Ended June 30,
(dollars in thousands)20262025
Investment securities available for sale
Proceeds from sales$98,599 $— 
Gross realized gains on sales248 — 
Gross realized losses on sales(1,979)— 
Schedule of Unrealized Losses and Fair Values for Investment Securities
Unrealized losses and fair values for investment securities available for sale as of June 30, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are summarized as follows:
June 30, 2026
Less than 12 Months12 Months or moreTotal
(dollars in thousands)Fair
value		Unrealized
loss		Fair
value		Unrealized
loss		Fair
value		Unrealized
loss
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities$19,519 $100 $— $— $19,519 $100 
Mortgage-backed securities - agency494,501 9,851 478,263 78,837 972,764 88,688 
Mortgage-backed securities - non-agency13,848 65 15,728 2,379 29,576 2,444 
Asset-backed student loans3,187 3 13,129 70 16,316 73 
State and municipal securities1,816 2 43,777 4,071 45,593 4,073 
Collateralized loan obligations18,686 67 — — 18,686 67 
Corporate securities3,974 26 26,685 1,012 30,659 1,038 
Total available for sale securities$555,531 $10,114 $577,582 $86,369 $1,133,113 $96,483 
December 31, 2025
Less than 12 Months12 Months or moreTotal
(dollars in thousands)Fair
value		Unrealized
loss		Fair
value		Unrealized
loss		Fair
value		Unrealized
loss
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities$9,668 $5 $9,077 $923 $18,745 $928 
Mortgage-backed securities - agency201,422 1,191 524,471 74,285 725,893 75,476 
Mortgage-backed securities - non-agency42 — 22,386 2,331 22,428 2,331 
Asset-backed student loans5,166 13 14,378 73 19,544 86 
State and municipal securities3,826 12 46,204 3,972 50,030 3,984 
Collateralized loan obligations— — — — — — 
Corporate securities2,502 1 47,241 2,331 49,743 2,332 
Total available for sale securities$222,626 $1,222 $663,757 $83,915 $886,383 $85,137