v3.26.1
Loans (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Loans
Loans consist of the following:
(Dollars in thousands)June 30, 2026December 31, 2025
Loans held for sale$1,146 $1,032 
LHFI:
Loans secured by real estate:
Commercial real estate(1)
$2,631,704 $2,523,905 
Construction/land/land development698,610 611,220 
Single-family residential real estate1,425,285 1,444,611 
Multifamily residential real estate568,445 553,149 
Total real estate5,324,044 5,132,885 
Commercial and industrial2,141,623 1,989,218 
Mortgage warehouse lines of credit589,706 528,781 
Consumer18,204 20,033 
Total LHFI(2)
8,073,577 7,670,917 
Less: Allowance for loan credit losses (“ALCL”)
98,188 96,782 
LHFI, net$7,975,389 $7,574,135 
____________________________
(1)Includes owner-occupied commercial real estate of $1.05 billion and $1.00 billion at June 30, 2026, and December 31, 2025 respectively.
(2)Includes unamortized purchase accounting adjustment and net deferred loan fees of $10.9 million and $10.6 million at June 30, 2026, and December 31, 2025, respectively.
Schedule of Recorded Investment in Loans by Credit Quality Indicator
The following table reflects recorded investments in loans by credit quality indicator and origination year at June 30, 2026, and gross charge-offs for the six months ended June 30, 2026, excluding loans held for sale. Loans acquired are shown in the table by origination year, not merger date. The Company had an immaterial amount of revolving loans converted to term loans at June 30, 2026.
Term Loans
Amortized Cost Basis by Origination Year
(Dollars in thousands)20262025202420232022PriorRevolving Loans Amortized Cost BasisTotal
Commercial real estate:
Pass$390,101 $560,810 $143,864 $288,197 $660,546 $512,495 $49,466 $2,605,479 
Classified46 681 8,814 7,159 3,722 5,559 244 26,225 
Total commercial real estate loans$390,147 $561,491 $152,678 $295,356 $664,268 $518,054 $49,710 $2,631,704 
Year-to-date gross charge-offs$— $— $— $438 $200 $586 $— $1,224 
Construction/land/land development:
Pass$109,624 $296,353 $77,102 $65,489 $37,947 $47,384 $35,374 $669,273 
Classified3,790 834 2,849 3,946 11,000 4,606 2,312 29,337 
Total construction/land/land development loans$113,414 $297,187 $79,951 $69,435 $48,947 $51,990 $37,686 $698,610 
Single-family residential real estate:
Pass$112,766 $191,899 $66,194 $181,609 $345,370 $359,931 $124,615 $1,382,384 
Classified1,384 1,765 1,372 9,422 22,100 6,696 162 42,901 
Total single-family residential real estate loans$114,150 $193,664 $67,566 $191,031 $367,470 $366,627 $124,777 $1,425,285 
Year-to-date gross charge-offs$— $61 $142 $71 $35 $— $— $309 
Multi-family residential real estate:
Pass$109,472 $148,344 $17,509 $58,236 $159,407 $73,821 $1,656 $568,445 
Total multi-family residential real estate loans$109,472 $148,344 $17,509 $58,236 $159,407 $73,821 $1,656 $568,445 
Commercial and industrial:
Pass$286,496 $341,821 $122,098 $128,682 $70,962 $63,829 $1,082,157 $2,096,045 
Special mention— — — — — — 458 458 
Classified4,328 10,215 4,001 2,841 7,071 1,268 15,396 45,120 
Total commercial and industrial loans$290,824 $352,036 $126,099 $131,523 $78,033 $65,097 $1,098,011 $2,141,623 
Year-to-date gross charge-offs$80 $55 $467 $16 $— $197 $3,905 $4,720 
Mortgage Warehouse Lines of Credit:
Pass$— $— $— $— $— $— $589,706 $589,706 
Consumer:
Pass$3,829 $5,552 $2,544 $1,039 $220 $48 $4,904 $18,136 
Classified— 15 27 14 10 — 2 68 
Total consumer loans$3,829 $5,567 $2,571 $1,053 $230 $48 $4,906 $18,204 
Year-to-date gross charge-offs$— $46 $107 $4 $2 $— $47 $206 
    
The following table reflects recorded investments in loans by credit quality indicator and origination year at December 31, 2025, and gross charge-offs for the year ended December 31, 2025, excluding loans held for sale. Loans
acquired are shown in the table by origination year, not merger date. The Company had an immaterial amount of revolving loans converted to term loans at December 31, 2025.
Term Loans
Amortized Cost Basis by Origination Year
(Dollars in thousands)20252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
Commercial real estate:
Pass$566,147 $211,520 $302,448 $718,350 $323,489 $310,901 $61,123 $2,493,978 
Special mention— — — 6,225 — 1,602 — 7,827 
Classified529 8,146 4,887 1,664 2,136 4,638 100 22,100 
Total commercial real estate loans$566,676 $219,666 $307,335 $726,239 $325,625 $317,141 $61,223 $2,523,905 
Year-to-date gross charge-offs$— $— $10 $— $34 $427 $257 $728 
Construction/land/land development:
Pass$235,134 $84,044 $88,060 $80,150 $57,982 $5,828 $34,246 $585,444 
Classified124 723 3,996 11,242 2,727 826 6,138 25,776 
Total construction/land/land development loans$235,258 $84,767 $92,056 $91,392 $60,709 $6,654 $40,384 $611,220 
Single-family residential real estate:
Pass$207,545 $95,844 $207,189 $355,335 $191,161 $219,513 $114,688 $1,391,275 
Classified4,476 836 14,060 24,756 4,305 4,857 46 53,336 
Total residential real estate loans$212,021 $96,680 $221,249 $380,091 $195,466 $224,370 $114,734 $1,444,611 
Year-to-date gross charge-offs$— $36 $86 $267 $— $— $100 $489 
Multifamily residential real estate:
Pass$188,102 $17,847 $58,625 $200,912 $59,824 $26,320 $1,276 $552,906 
Classified243 — — — — — — 243 
Total residential real estate loans$188,345 $17,847 $58,625 $200,912 $59,824 $26,320 $1,276 $553,149 
Commercial and industrial:
Pass$425,600 $151,628 $158,442 $81,585 $54,154 $29,762 $1,039,561 $1,940,732 
Special mention— — — 1,434 — — 1,063 2,497 
Classified7,115 4,267 4,219 7,121 301 529 22,437 45,989 
Total commercial and industrial loans$432,715 $155,895 $162,661 $90,140 $54,455 $30,291 $1,063,061 $1,989,218 
Year-to-date gross charge-offs$131 $2,958 $553 $4,206 $757 $1,746 $33,340 $43,691 
Mortgage Warehouse Lines of Credit:
Pass$— $— $— $— $— $— $528,781 $528,781 
Consumer:
Pass$8,621 $3,625 $1,587 $348 $96 $25 $5,547 $19,849 
Classified— 134 19 16 — — 15 184 
Total consumer loans$8,621 $3,759 $1,606 $364 $96 $25 $5,562 $20,033 
Year-to-date gross charge-offs$14 $23 $24 $2 $— $20 $91 $174 
Schedule of Loan Portfolio Aging Analysis
The following tables present the Company’s loan portfolio aging analysis at the dates indicated:
June 30, 2026
(Dollars in thousands)30-59 Days Past Due60-89 Days Past DueLoans Past Due 90 Days or MoreTotal Past DueCurrent LoansTotal Loans Receivable30-89 Days Past Due and Still AccruingAccruing Loans 90 or More Days Past Due
Loans secured by real estate:
Commercial real estate
$4,315 $263 $2,865 $7,443 $2,624,261 $2,631,704 $17 $— 
Construction/land/land development
593 — 10,210 10,803 687,807 698,610 593 — 
Single-family residential real estate831 4,809 18,922 24,562 1,400,723 1,425,285 3,253 — 
Multifamily residential real estate— — — — 568,445 568,445 — — 
Total real estate5,739 5,072 31,997 42,808 5,281,236 5,324,044 3,863 — 
Commercial and industrial1,081 477 9,131 10,689 2,130,934 2,141,623 1,034 — 
Mortgage warehouse lines of credit
— — — — 589,706 589,706 — — 
Consumer323 28 15 366 17,838 18,204 306 — 
Total LHFI$7,143 $5,577 $41,143 $53,863 $8,019,714 $8,073,577 $5,203 $— 
December 31, 2025
(Dollars in thousands)30-59 Days Past Due60-89 Days Past DueLoans Past Due 90 Days or MoreTotal Past DueCurrent LoansTotal Loans Receivable30-89 Days Past Due and Still AccruingAccruing Loans 90 or More Days Past Due
Loans secured by real estate:
Commercial real estate$— $4,203 $9,884 $14,087 $2,509,818 $2,523,905 $4,203 $— 
Construction/land/land development
137 45 14,484 14,666 596,554 611,220 108 — 
Single-family residential real estate9,912 3,333 22,368 35,613 1,408,998 1,444,611 9,114 — 
Multifamily residential real estate— — — — 553,149 553,149 — — 
Total real estate10,049 7,581 46,736 64,366 5,068,519 5,132,885 13,425 — 
Commercial and industrial895 254 7,792 8,941 1,980,277 1,989,218 1,149 — 
Mortgage warehouse lines of credit— — — — 528,781 528,781 — — 
Consumer127 63 104 294 19,739 20,033 190 — 
Total LHFI$11,071 $7,898 $54,632 $73,601 $7,597,316 $7,670,917 $14,764 $— 
Schedule of Allowance for Loan Losses by Portfolio Segment
The following tables detail activity in the ALCL by portfolio segment. Management has made the accounting policy election to exclude accrued interest receivable on loans from the estimate of loan credit losses. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Accrued interest on loans receivable of $29.3 million and $28.9 million at June 30, 2026, and December 31, 2025, respectively, was included in accrued interest receivable and other assets on the face of the consolidated balance sheets.
Three Months Ended June 30, 2026
Commercial Real EstateConstruction/ Land/ Land DevelopmentSingle-Family Residential Real EstateMultifamily Residential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
(Dollars in thousands)
Beginning balance$19,388 $6,996 $9,793 $6,811 $54,427 $998 $602 $99,015 
Charge-offs449 — 277 — 1,716 — 54 2,496 
Recoveries1 — — — 1,935 — 106 2,042 
Provision(1)
138 (431)474 (150)(412)69 (61)(373)
Ending balance$19,078 $6,565 $9,990 $6,661 $54,234 $1,067 $593 $98,188 
Average balance$2,563,643 $675,151 $1,428,511 $572,052 $2,212,814 $483,340 $19,158 $7,954,669 
Net charge-offs (recoveries) to loan average balance (annualized)0.07 %— %0.08 %— %(0.04)%— %(1.09)%0.02 %
____________________________
(1)The $65,000 provision for credit losses on the consolidated statements of income includes a $373,000 net benefit provision for loan credit losses, a $440,000 provision for off-balance sheet commitments and $2,000 net benefit provision for held to maturity securities credit losses, for the three months ended June 30, 2026.

Three Months Ended June 30, 2025
Commercial Real EstateConstruction/ Land/ Land DevelopmentSingle-Family Residential Real EstateMultifamily Residential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
(Dollars in thousands)
Beginning balance$16,185 $6,836 $8,949 $4,078 $54,762 $422 $779 $92,011 
Charge-offs471 — 119 — 2,995 — 115 3,700 
Recoveries— — 7 — 1,390 — 3 1,400 
Provision(1)
1,071 (512)222 502 1,018 358 56 2,715 
Ending balance$16,785 $6,324 $9,059 $4,580 $54,175 $780 $723 $92,426 
Average balance$2,407,632 $739,601 $1,462,025 $493,397 $2,068,175 $480,587 $21,851 $7,673,268 
Net charge-offs to loan average balance (annualized)0.08 %— %0.03 %— %0.31 %— %2.06 %0.12 %
____________________________
(1)The $2.9 million provision for credit losses on the consolidated statements of income includes a $2.7 million provision for loan credit losses, a $149,000 provision expense for off-balance sheet commitments and a $2,000 net benefit provision for held to maturity securities credit losses for the three months ended June 30, 2025.
Six Months Ended June 30, 2026
Commercial Real EstateConstruction/ Land/ Land DevelopmentSingle-Family Residential Real EstateMultifamily Residential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
(Dollars in thousands)
Beginning balance$18,929 $7,219 $9,525 $4,963 $54,496 $913 $737 $96,782 
Charge-offs1,224 — 309 — 4,720 — 206 6,459 
Recoveries1 — 2 — 3,117 — 108 3,228 
Provision(1)
1,372 (654)772 1,698 1,341 154 (46)4,637 
Ending balance$19,078 $6,565 $9,990 $6,661 $54,234 $1,067 $593 $98,188 
Average balance$2,535,076 $651,871 $1,438,587 $560,826 $2,145,200 $444,920 $19,489 $7,795,969 
Net charge-offs to loan average balance (annualized)
0.10 %— %0.04 %— %0.15 %— %1.01 %0.08 %
_________________________
(1)The $5.0 million provision for credit losses on the consolidated statements of income includes a $4.6 million provision for loan losses, a $395,000 provision expense for off-balance sheet commitments and a $3,000 net benefit provision for held to maturity securities credit losses for the six months ended June 30, 2026.

Six Months Ended June 30, 2025
Commercial Real EstateConstruction/ Land/ Land DevelopmentSingle-Family Residential Real EstateMultifamily Residential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
(Dollars in thousands)
Beginning balance$16,546 $7,398 $8,623 $3,831 $53,449 $501 $712 $91,060 
Charge-offs728 — 119 — 7,556 — 145 8,548 
Recoveries13 — 10 43 3,432 — 22 3,520 
Provision(1)
954 (1,074)545 706 4,850 279 134 6,394 
Ending balance$16,785 $6,324 $9,059 $4,580 $54,175 $780 $723 $92,426 
Average balance$2,427,754 $780,450 $1,450,386 $482,412 $2,036,281 $385,582 $22,278 $7,585,143 
Net charge-offs (recoveries) to loan average balance (annualized)
0.06 %— %0.02 %(0.02)%0.41 %— %1.11 %0.13 %
____________________________
(1)The $6.3 million provision for credit losses on the consolidated statements of income includes a $6.4 million provision for loan credit losses, a $84,000 and $3,000 net benefit provision for off-balance sheet commitments and held to maturity securities credit losses, respectively, for the six months ended June 30, 2025.
Schedule of Amortized Cost Basis of Collateral Dependent Loans
The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related ALCL allocated to these loans:
June 30, 2026
(Dollars in thousands)Commercial Real EstateConstruction/ Land/ Land DevelopmentSingle-Family Residential Real EstateCommercial and IndustrialTotal
Real Estate $3,322 $206 $12,427 $— $15,955 
Accounts Receivable — — — 189 189 
Total$3,322 $206 $12,427 $189 $16,144 
ALCL Allocation$— $— $448 $— $448 
December 31, 2025
(Dollars in thousands)Commercial Real EstateConstruction/ Land/ Land DevelopmentSingle-Family Residential Real EstateCommercial and IndustrialTotal
Real Estate $4,409 $206 $14,803 $— $19,418 
Accounts Receivable— — — 189 189 
Equipment— — — 119 119 
Other— — — 206 206 
Total$4,409 $206 $14,803 $514 $19,932 
ALCL Allocation$— $— $61 $— $61 
Schedule of Non-performing (Nonaccrual) Loans Held for Investment
Nonaccrual LHFI was as follows:
Nonaccrual With No
Allowance for Credit Loss		Total Nonaccrual
(Dollars in thousands)
Loans secured by real estate:
June 30, 2026December 31, 2025June 30, 2026December 31, 2025
Commercial real estate$6,461 $11,167 $15,479 $13,212 
Construction/land/land development
12,519 8,139 16,365 16,388 
Single-family residential real estate29,388 33,418 35,595 39,480 
Total real estate48,368 52,724 67,439 69,080 
Commercial and industrial
1,390 870 11,015 11,919 
Consumer— — 68 185 
Total nonaccrual loans$49,758 $53,594 $78,522 $81,184 
Schedule of Loans Classified as Troubled Debt Restructurings (TDRs)
The tables below summarize modifications made to borrowers experiencing financial difficulty by loan and modification type during the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30, 2026
Term ExtensionOther-Than-Insignificant Payment Delay
(Dollars in thousands)Amortized Cost% of LoansAmortized Cost% of Loans
Loans secured by real estate:
Commercial real estate$1,168 0.04 %$46 — %
Construction/land/land development4,733 0.68 42 0.01 
Single-family residential real estate1,316 0.09 278 0.02 
Total real estate7,217 0.14 366 0.01 
Commercial and industrial16,879 0.79 — — 
Consumer9 0.05 50 0.27 
Total$24,105 0.30 $416 0.01 
Three Months Ended June 30, 2025
Term ExtensionOther-Than-Insignificant Payment Delay
(Dollars in thousands)Amortized Cost% of LoansAmortized Cost% of Loans
Loans secured by real estate:
Commercial real estate$141 0.01 %$— — %
Construction/land/land development7 — — — 
Single-family residential real estate253 0.02 34 — 
Total real estate401 0.01 34 — 
Commercial and industrial14,002 0.70 27 — 
Total$14,403 0.19 $61 — 

Six Months Ended June 30, 2026
Term ExtensionOther-Than-Insignificant Payment Delay
(Dollars in thousands)Amortized Cost% of LoansAmortized Cost% of Loans
Loans secured by real estate:
Commercial real estate$4,069 0.15 %$5,852 0.22 %
Construction/land/land development8,829 1.26 42 0.01 
Single-family residential real estate1,797 0.13 1,413 0.10 
Total real estate14,695 0.28 7,307 0.14 
Commercial and industrial18,831 0.88 30 — 
Consumer9 0.05 51 0.28 
Total$33,535 0.42 $7,388 0.09 
Six Months Ended June 30, 2025
Term ExtensionOther-Than-Insignificant Payment Delay
(Dollars in thousands)Amortized Cost% of LoansAmortized Cost% of Loans
Loans secured by real estate:
Commercial real estate$861 0.04 %$— — %
Construction/land/land development132 0.02 — — 
Single-family residential real estate665 0.05 34 — 
Total real estate1,658 0.03 34 — 
Commercial and industrial29,360 1.46 27 — 
Total$31,018 0.40 $61 — 
The following tables describe the financial effects of the modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30, 2026
Term ExtensionOther-Than-Insignificant Payment Delay
Commercial real estate
Added a weighted average 2.0 months to the life of the modified loans
Delayed payment of weighted average 6.0 months
Construction/land/land development
Added a weighted average 6.1 months to the life of the modified loans
Delayed payment of weighted average 3.0 months
Single-family residential real estate
Added a weighted average 9.0 months to the life of the modified loans
Delayed payment of weighted average 3.0 months
Commercial and industrial
Added a weighted average 6.6 months to the life of the modified loans
N/A
Consumer
Added a weighted average 36.0 months to the life of the modified loans
Delayed payment of weighted average 2.0 months
Three Months Ended June 30, 2025
Term ExtensionOther-Than-Insignificant Payment Delay
Commercial real estate
Added a weighted average 3.7 months to the life of the modified loans
N/A
Construction/land/land development
Added a weighted average 6.0 months to the life of the modified loans
N/A
Single-family residential real estate
Added a weighted average 16.5 months to the life of the modified loans
Delayed payment of weighted average 4.0 months
Commercial and industrial
Added a weighted average 5.5 months to the life of the modified loans
Delayed payment of weighted average 4.0 months
Six Months Ended June 30, 2026
Term ExtensionOther-Than-Insignificant Payment Delay
Commercial real estate
Added a weighted average 4.7 months to the life of the modified loans
Delayed payment of weighted average 8.8 months
Construction/land/land development
Added a weighted average 6.9 months to the life of the modified loans
Delayed payment of weighted average 6.0 months
Single-family residential real estate
Added a weighted average 10.3 months to the life of the modified loans
Delayed payment of weighted average 3.6 months
Commercial and industrial
Added a weighted average 6.9 months to the life of the modified loans
Delayed payment of weighted average 3.0 months
Consumer
Added a weighted average 36.0 months to the life of the modified loans
Delayed payment of weighted average 2.0 months
Six Months Ended June 30, 2025
Term ExtensionOther-Than-Insignificant Payment Delay
Commercial real estate
Added a weighted average 5.6 months to the life of the modified loans
N/A
Construction/land/land development
Added a weighted average 6.2 months to the life of the modified loans
N/A
Single-family residential real estate
Added a weighted average 24.1 months to the life of the modified loans
Delayed Payment of weighted average 4.0 months
Commercial and industrial
Added a weighted average 6.1 months to the life of the modified loans
Delayed Payment of weighted average 4.0 months
The following table depicts the performance of loans that have been modified during the last twelve months ended June 30, 2026 and 2025:
Payment Status (Amortized Cost Basis)
June 30, 2026
(Dollars in thousands)Current30-89 Days Past Due90 Days or More Past Due
Loans secured by real estate:
Commercial real estate
$9,729 $1,431 $1,516 
Construction/land/land development
8,788 86 — 
Single-family residential real estate2,944 737 — 
Total real estate21,461 2,254 1,516 
Commercial and industrial24,164 493 2,045 
Consumer92 24 — 
Total LHFI$45,717 $2,771 $3,561 
Payment Status (Amortized Cost Basis)
June 30, 2025
(Dollars in thousands)Current30-89 Days Past Due90 Days or More Past Due
Loans secured by real estate:
Commercial real estate
$2,361 $— $— 
Construction/land/land development132 — 206 
Single-family residential real estate1,162 — 291 
Total real estate3,655 — 497 
Commercial and industrial27,967 1,800 2,279 
Total LHFI$31,622 $1,800 $2,776 
Schedule of Amortized Cost of Loans with Payment Default
The tables below provide the details of loans to borrowers experiencing financial difficulty that experienced a payment default during the three and six months ended June 30, 2026 and 2025, and were modified in the twelve months prior to that default:
Defaults During the Three Months Ended June 30, 2026
Term Extension
(Dollars in thousands)Amortized CostDefault Amount
Loans secured by real estate:
Commercial real estate
$7,323 $8,193 
Single-family residential real estate54 74 
Total real estate7,377 8,267 
Commercial and industrial2,350 3,883 
Total$9,727 $12,150 
Defaults During the Three Months Ended June 30, 2025
Term Extension
(Dollars in thousands)Amortized CostDefault Amount
Loans secured by real estate:
Construction/land/land development$206 $206 
Single-family residential real estate292 392 
Total real estate498 598 
Commercial and industrial2,279 3,995 
Total$2,777 $4,593 

Defaults During the Six Months Ended June 30, 2026
Term Extension
(Dollars in thousands)Amortized Cost Default Amount
Loans secured by real estate:
Construction/land/land development$7,323 $8,193 
Single-family residential real estate54 74 
Total real estate7,377 8,267 
Commercial and industrial2,674 6,684 
Total$10,051 $14,951 

Defaults During the Six Months Ended June 30, 2025
Term Extension
(Dollars in thousands)Amortized CostDefault Amount
Loans secured by real estate:
Commercial real estate
$— $257 
Construction/land/land development206 206 
Single-family residential real estate292 392 
Total real estate498 855 
Commercial and industrial2,279 5,535 
Total$2,777 $6,390