v3.26.1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured and Recorded at Fair Value
Assets and liabilities measured and recorded at fair value, including financial assets for which the Company has elected the fair value option, on a recurring and nonrecurring basis at June 30, 2026 and December 31, 2025, are summarized below:
June 30, 2026
(dollars in thousands)Carrying
amount		Quoted prices
in active
markets
for identical
assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant unobservable
inputs
(Level 3)
Assets and liabilities measured at fair value on a recurring basis:
Assets
Investment securities available for sale:
U.S. government sponsored entities and U.S. agency securities$37,524 $— $37,524 $— 
Mortgage-backed securities - agency1,306,345 — 1,306,345 — 
Mortgage-backed securities - non-agency92,762 — 92,762 — 
Asset-backed student loans19,130 — 19,130 — 
State and municipal securities71,432 — 71,432 — 
Collateralized loan obligations84,486 — 84,486 — 
Corporate securities41,781 — 41,781 — 
Equity securities3,853 3,853 — — 
Residential loans held for sale8,944 — 8,944 — 
Credit enhancement asset13,642 — — 13,642 
Derivative assets3,544 — 3,544 — 
Total$1,683,443 $3,853 $1,665,948 $13,642 
Liabilities
Derivative liabilities$1,904 $— $1,904 $— 
Total$1,904 $— $1,904 $— 
Assets measured at fair value on a non-recurring basis:
Collateral dependent loans:
     Commercial$9,454 $— $— $9,454 
     Commercial real estate35,170 — — 35,170 
     Construction and land development1,588 — — 1,588 
     Residential real estate814 — — 814 
Other real estate owned356 — — 356 
December 31, 2025
(dollars in thousands)Carrying
amount		Quoted prices
in active
markets
for identical
assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant unobservable
inputs
(Level 3)
Assets and liabilities measured at fair value on a recurring basis:
Assets
Investment securities available for sale:
U.S. government sponsored entities and U.S. agency securities$19,823 $— $19,823 $— 
Mortgage-backed securities - agency1,193,750 — 1,193,750 — 
Mortgage-backed securities - non-agency97,089 — 97,089 — 
Asset-backed student loans34,215 — 34,215 — 
State and municipal securities73,458 — 73,458 — 
Collateralized loan obligations46,854 — 46,854 — 
Corporate securities57,812 — 57,812 — 
Equity securities4,235 4,235 — — 
Residential loans held for sale7,781 — 7,781 — 
Credit enhancement asset12,557 — — 12,557 
Derivative assets3,451 — 3,451 — 
Total$1,551,025 $4,235 $1,534,233 $12,557 
Liabilities
Derivative liabilities$4,999 $— $4,999 $— 
Total$4,999 $— $4,999 $— 
Assets measured at fair value on a non-recurring basis:
Collateral dependent loans:
     Commercial$8,136 $— $— $8,136 
     Commercial real estate40,324 — — 40,324 
     Residential real estate592 — — 592 
Other real estate owned606 — — 606 
Schedule of Losses Recognized on Assets Measured on a Non-recurring Basis
The following table presents losses recognized on assets measured at fair value on a nonrecurring basis for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2026202520262025
Collateral dependent loans$7,843 $8,281 $9,013 $10,293 
Total losses on assets measured on a nonrecurring basis$7,843 $8,281 $9,013 $10,293 
Schedule Presents Quantitative Information about Significant Unobservable Inputs used in Fair Value Measurements of Non-recurring Assets (Level 3)
The following tables present quantitative information about significant unobservable inputs used in fair value measurements of Level 3 assets measured on a nonrecurring basis at June 30, 2026 and December 31, 2025:
(dollars in thousands)Fair valueValuation
technique		Unobservable
input / assumptions
Discount Rate Range (weighted average) (1)
June 30, 2026
Collateral dependent loans:
Commercial$9,454 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
0.00%- 0.00% (0.00%)
Commercial real estate35,170 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
0.00% - 100.00% (1.87%)
Construction and land development1,588 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
0.00% - 0.00% (0.00%)
Residential real estate814 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
0.00%- 0.00% (0.00%)
Other real estate owned356 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
7.54% - 71.57% (53.51%)
December 31, 2025
Collateral dependent loans:
Commercial$8,136 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
0.00% - 0.00% (0.00%)
Commercial real estate40,324 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
0.00% - 100.00% (4.79%)
Residential real estate592 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
0.00% - 0.00% (0.00%)
Other real estate owned606 Fair value of collateralDiscount for type of property, age of appraisal, and/or current status
54.10% - 70.67% (58.17%)
(1)Unobservable inputs were weighted by the relative fair value of the instruments.
Schedule of the Fair Value Option for Newly Originated Residential and Commercial Loans Held for Sale
The following table presents the difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected as of June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
(dollars in thousands)Aggregate
fair value		DifferenceContractual
principal		Aggregate
fair value		DifferenceContractual
principal
Residential loans held for sale$8,944 $335 $8,609 $7,781 $390 $7,391 
The following table presents the amount of gains (losses) from fair value changes included in income before income taxes for financial assets carried at fair value for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2026202520262025
Residential loans held for sale$203 $48 $(34)$135 
Schedule Presentation of Summary of the Carrying Values and Fair Value Estimates of Certain Financial Instruments
The carrying values and estimated fair value of certain financial instruments not carried at fair value at June 30, 2026 and December 31, 2025 were as follows:
June 30, 2026
(dollars in thousands)Carrying
amount		Fair valueQuoted prices
in active
markets
for identical
assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Assets
Cash and due from banks$298,244 $298,244 $298,244 $— $— 
Federal funds sold503 503 503 — — 
Loans, net
4,181,185 4,064,819 — — 4,064,819 
Accrued interest receivable23,676 23,676 — 23,676 — 
Liabilities
Deposits$5,707,278 $5,700,814 $— $5,700,814 $— 
Short-term borrowings7,645 7,645 — 7,645 — 
FHLB and other borrowings258,000 255,281 — 255,281 — 
Subordinated debt27,030 22,906 — 22,906 — 
Trust preferred debentures52,219 48,482 — 48,482 — 
December 31, 2025
(dollars in thousands)Carrying
amount		Fair valueQuoted prices
in active
markets
for identical
assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Assets
Cash and due from banks$127,279 $127,279 $127,279 $— $— 
Federal funds sold532 532 532 — — 
Loans, net
4,282,785 4,229,483 — — 4,229,483 
Accrued interest receivable23,824 23,824 — 23,824 — 
Liabilities
Deposits$5,424,379 $5,421,497 $— $5,421,497 $— 
Short-term borrowings60,181 60,181 50,000 10,181 — 
FHLB and other borrowings293,000 295,047 — 295,047 — 
Subordinated debt27,019 23,005 — 23,005 — 
Trust preferred debentures51,857 48,626 — 48,626 —