Investment Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investment Securities |
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| Schedule of amortized cost and fair value of securities |
| | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | Amortized | | Unrealized | | Unrealized | | Fair | | Amortized | | Unrealized | | Unrealized | | Fair | (dollars in thousands) | | Cost | | Gains | | Losses | | Value | | Cost | | Gains | | Losses | | Value | Mortgage-backed securities: | | | | | | | | | | | | | | | | | | | | | | | | | Residential - Government agency | | $ | 25,704 | | $ | 419 | | $ | (1,086) | | $ | 25,037 | | $ | 30,948 | | $ | 498 | | $ | (1,079) | | $ | 30,367 | Residential - Government-sponsored enterprises | | | 925,419 | | | 1,102 | | | (61,311) | | | 865,210 | | | 933,206 | | | 3,115 | | | (58,106) | | | 878,215 | Commercial - Government agency | | | 230,216 | | | — | | | (46,674) | | | 183,542 | | | 237,192 | | | — | | | (46,015) | | | 191,177 | Commercial - Government-sponsored enterprises | | | 39,776 | | | — | | | (754) | | | 39,022 | | | 42,798 | | | — | | | (1,199) | | | 41,599 | Commercial - Non-agency | | | 258,824 | | | 735 | | | (49) | | | 259,510 | | | 128,464 | | | 589 | | | (39) | | | 129,014 | Collateralized mortgage obligations: | | | | | | | | | | | | | | | | | | | | | | | | | Government agency | | | 433,114 | | | 217 | | | (39,041) | | | 394,290 | | | 461,160 | | | 1,756 | | | (36,640) | | | 426,276 | Government-sponsored enterprises | | | 318,436 | | | 214 | | | (34,938) | | | 283,712 | | | 336,451 | | | 847 | | | (34,302) | | | 302,996 | Collateralized loan obligations | | | 44,348 | | | 28 | | | — | | | 44,376 | | | 76,497 | | | 92 | | | — | | | 76,589 | Total available-for-sale securities | | $ | 2,275,837 | | $ | 2,715 | | $ | (183,853) | | $ | 2,094,699 | | $ | 2,246,716 | | $ | 6,897 | | $ | (177,380) | | $ | 2,076,233 | | | | | | | | | | | | | | | | | | | | | | | | | | Government agency debt securities | | $ | 44,479 | | $ | — | | $ | (3,629) | | $ | 40,850 | | $ | 46,182 | | $ | — | | $ | (3,235) | | $ | 42,947 | Mortgage-backed securities: | | | | | | | | | | | | | | | | | | | | | | | | | Residential - Government agency | | | 35,787 | | | — | | | (4,431) | | | 31,356 | | | 37,081 | | | — | | | (4,462) | | | 32,619 | Residential - Government-sponsored enterprises | | | 83,559 | | | — | | | (10,798) | | | 72,761 | | | 86,681 | | | — | | | (10,661) | | | 76,020 | Commercial - Government agency | | | 30,162 | | | — | | | (7,289) | | | 22,873 | | | 30,796 | | | — | | | (7,537) | | | 23,259 | Commercial - Government-sponsored enterprises | | | 1,072,102 | | | — | | | (102,683) | | | 969,419 | | | 1,088,838 | | | 227 | | | (95,314) | | | 993,751 | Collateralized mortgage obligations: | | | | | | | | | | | | | | | | | | | | | | | | | Government agency | | | 787,083 | | | — | | | (94,631) | | | 692,452 | | | 823,423 | | | — | | | (84,609) | | | 738,814 | Government-sponsored enterprises | | | 1,303,309 | | | — | | | (147,942) | | | 1,155,367 | | | 1,365,087 | | | — | | | (135,145) | | | 1,229,942 | Debt securities issued by states and political subdivisions | | | 55,203 | | | — | | | (4,806) | | | 50,397 | | | 54,994 | | | — | | | (3,571) | | | 51,423 | Total held-to-maturity securities | | $ | 3,411,684 | | $ | — | | $ | (376,209) | | $ | 3,035,475 | | $ | 3,533,082 | | $ | 227 | | $ | (344,534) | | $ | 3,188,775 |
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| Schedule of amortized cost and fair value of debt securities by contractual maturity |
| | | | | | | | | June 30, 2026 | | | Amortized | | Fair | (dollars in thousands) | | Cost | | Value | Available-for-sale securities | | | | | | | Due in one year or less | | $ | — | | $ | — | Due after one year through five years | | | 82,936 | | | 83,458 | Due after five years through ten years | | | 36,225 | | | 36,246 | Due after ten years | | | 184,011 | | | 184,182 | | | | 303,172 | | | 303,886 | | | | | | | | Mortgage-backed securities: | | | | | | | Residential - Government agency | | | 25,704 | | | 25,037 | Residential - Government-sponsored enterprises | | | 925,419 | | | 865,210 | Commercial - Government agency | | | 230,216 | | | 183,542 | Commercial - Government-sponsored enterprises | | | 39,776 | | | 39,022 | Total mortgage-backed securities | | | 1,221,115 | | | 1,112,811 | Collateralized mortgage obligations: | | | | | | | Government agency | | | 433,114 | | | 394,290 | Government-sponsored enterprises | | | 318,436 | | | 283,712 | Total collateralized mortgage obligations | | | 751,550 | | | 678,002 | Total available-for-sale securities | | $ | 2,275,837 | | $ | 2,094,699 | | | | | | | | Held-to-maturity securities | | | | | | | Due in one year or less | | $ | — | | $ | — | Due after one year through five years | | | — | | | — | Due after five years through ten years | | | 61,397 | | | 56,930 | Due after ten years | | | 38,285 | | | 34,317 | | | | 99,682 | | | 91,247 | | | | | | | | Mortgage-backed securities: | | | | | | | Residential - Government agency | | | 35,787 | | | 31,356 | Residential - Government-sponsored enterprises | | | 83,559 | | | 72,761 | Commercial - Government agency | | | 30,162 | | | 22,873 | Commercial - Government-sponsored enterprises | | | 1,072,102 | | | 969,419 | Total mortgage-backed securities | | | 1,221,610 | | | 1,096,409 | Collateralized mortgage obligations: | | | | | | | Government agency | | | 787,083 | | | 692,452 | Government-sponsored enterprises | | | 1,303,309 | | | 1,155,367 | Total collateralized mortgage obligations | | | 2,090,392 | | | 1,847,819 | Total held-to-maturity securities | | $ | 3,411,684 | | $ | 3,035,475 |
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| Schedule of gross unrealized losses and fair values of securities in a continuous loss position |
| | | | | | | | | | | | | | | | | | | | | Time in Continuous Loss as of June 30, 2026 | | | Less Than 12 Months | | 12 Months or More | | Total | | | Unrealized | | | | | Unrealized | | | | | Unrealized | | | | (dollars in thousands) | | Losses | | Fair Value | | Losses | | Fair Value | | Losses | | Fair Value | Mortgage-backed securities: | | | | | | | | | | | | | | | | | | | Residential - Government agency | | $ | — | | $ | — | | $ | (1,086) | | $ | 7,855 | | $ | (1,086) | | $ | 7,855 | Residential - Government-sponsored enterprises | | | (2,566) | | | 202,269 | | | (58,745) | | | 496,773 | | | (61,311) | | | 699,042 | Commercial - Government agency | | | — | | | — | | | (46,674) | | | 183,542 | | | (46,674) | | | 183,542 | Commercial - Government-sponsored enterprises | | | — | | | — | | | (754) | | | 39,022 | | | (754) | | | 39,022 | Commercial - Non-agency | | | (23) | | | 14,482 | | | (26) | | | 7,018 | | | (49) | | | 21,500 | Collateralized mortgage obligations: | | | | | | | | | | | | | | | | | | | Government agency | | | (498) | | | 81,179 | | | (38,543) | | | 267,192 | | | (39,041) | | | 348,371 | Government-sponsored enterprises | | | (586) | | | 37,799 | | | (34,352) | | | 216,802 | | | (34,938) | | | 254,601 | Total available-for-sale securities with unrealized losses | | $ | (3,673) | | $ | 335,729 | | $ | (180,180) | | $ | 1,218,204 | | $ | (183,853) | | $ | 1,553,933 |
| | | | | | | | | | | | | | | | | | | | | Time in Continuous Loss as of December 31, 2025 | | | Less Than 12 Months | | 12 Months or More | | Total | | | Unrealized | | | | | Unrealized | | | | | Unrealized | | | | (dollars in thousands) | | Losses | | Fair Value | | Losses | | Fair Value | | Losses | | Fair Value | Mortgage-backed securities: | | | | | | | | | | | | | | | | | | | Residential - Government agency | | $ | — | | $ | — | | $ | (1,079) | | $ | 8,304 | | $ | (1,079) | | $ | 8,304 | Residential - Government-sponsored enterprises | | | (509) | | | 70,705 | | | (57,597) | | | 545,262 | | | (58,106) | | | 615,967 | Commercial - Government agency | | | — | | | — | | | (46,015) | | | 191,177 | | | (46,015) | | | 191,177 | Commercial - Government-sponsored enterprises | | | — | | | — | | | (1,199) | | | 41,599 | | | (1,199) | | | 41,599 | Commercial - Non-agency | | | (39) | | | 14,475 | | | — | | | — | | | (39) | | | 14,475 | Collateralized mortgage obligations: | | | | | | | | | | | | | | | | | | | Government agency | | | — | | | — | | | (36,640) | | | 287,275 | | | (36,640) | | | 287,275 | Government-sponsored enterprises | | | (183) | | | 18,296 | | | (34,119) | | | 232,210 | | | (34,302) | | | 250,506 | Total available-for-sale securities with unrealized losses | | $ | (731) | | $ | 103,476 | | $ | (176,649) | | $ | 1,305,827 | | $ | (177,380) | | $ | 1,409,303 |
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