v3.26.1
FAIR VALUE MEASURES (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Difference Between Fair Value and Principal Balance for Mortgage Loans Held for Sale Measured at Fair Value
The following table summarizes the difference between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of June 30, 2026 and December 31, 2025:

(dollars in thousands) 
June 30, 2026December 31, 2025
Aggregate fair value of mortgage loans held for sale$482,220 $623,152 
Aggregate unpaid principal balance of mortgage loans held for sale475,079 611,984 
Past-due loans of 90 days or more583 996 
Nonaccrual loans583 996 
Unpaid principal balance of nonaccrual loans583 998 
Schedule of Fair Value Measurements of Assets and Liabilities Measured on Recurring Basis
The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of June 30, 2026 and December 31, 2025. There were no transfers between Level 1 and Level 2, nor any transfers in or out of Level 3 during the six months ended June 30, 2026 or the year ended December 31, 2025.

Recurring Basis
Fair Value Measurements
June 30, 2026
(dollars in thousands) 
Fair ValueLevel 1Level 2Level 3
Financial assets:
Debt securities available-for-sale:
U.S. Treasuries$583,447 $583,447 $— $— 
State, county and municipal securities17,463 — 17,463 — 
Corporate debt securities2,452 — 1,387 1,065 
SBA pool securities10,519 — 10,519 — 
Mortgage-backed securities1,846,742 — 1,846,742 — 
Loans held for sale482,220 — 482,220 — 
Derivative financial instruments7,309 — 7,309 — 
Mortgage banking derivative instruments3,253 — 3,253 — 
Total recurring assets at fair value$2,953,405 $583,447 $2,368,893 $1,065 
Financial liabilities:
Derivative financial instruments$7,442 $— $7,442 $— 
Risk participation agreement4 — 4 — 
Mortgage banking derivative instruments483 — 483 — 
Total recurring liabilities at fair value$7,929 $— $7,929 $— 

Recurring Basis
Fair Value Measurements
December 31, 2025
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
Financial assets:
Debt securities available-for-sale:
U.S. Treasuries$660,625 $660,625 $— $— 
State, county and municipal securities19,061 — 19,061 — 
Corporate debt securities5,875 — 4,825 1,050 
SBA pool securities12,208 — 12,208 — 
Mortgage-backed securities1,509,404 — 1,509,404 — 
Loans held for sale623,152 — 623,152 — 
Derivative financial instruments7,401 — 7,401 — 
Mortgage banking derivative instruments3,365 — 3,365 — 
Total recurring assets at fair value$2,841,091 $660,625 $2,179,416 $1,050 
Financial liabilities:
Derivative financial instruments$7,642 $— $7,642 $— 
Risk participation agreement16 — 16 — 
Mortgage banking derivative instruments2,758 — 2,758 — 
Total recurring liabilities at fair value$10,416 $— $10,416 $— 
Schedule of Fair Value Measurements of Assets Measured at Fair Value on Non-Recurring Basis
The following table presents the fair value measurements of assets measured at fair value on a non-recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy as of June 30, 2026 and December 31, 2025.
These assets are not measured at fair value on an ongoing basis, though they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment.

Nonrecurring Basis
Fair Value Measurements
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
June 30, 2026
Collateral-dependent loans$35,726 $— $— $35,726 
Other real estate owned926 — — 926 
Total nonrecurring assets at fair value$36,652 $— $— $36,652 
December 31, 2025
Collateral-dependent loans$36,689 $— $— $36,689 
Other real estate owned201 — — 201 
Total nonrecurring assets at fair value$36,890 $— $— $36,890 
Schedule of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets and Liabilities
The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets:

(dollars in thousands)Fair ValueValuation
Technique		Unobservable InputsRange of
Discounts		Weighted
Average
Discount
June 30, 2026
Recurring:
Debt securities available-for-sale$1,065 Discounted cash flowsProbability of Default9.5%9.5%
Loss Given Default48%48%
Nonrecurring:
Collateral-dependent loans$35,726 Third-party appraisals and discounted cash flowsCollateral discounts and
discount rates
18% - 78%
36%
Other real estate owned$926 Third-party appraisals and sales contractsCollateral discounts and estimated
costs to sell
15% - 18%
17%
December 31, 2025
Recurring:
Debt securities available-for-sale$1,050 Discounted cash flowsProbability of Default10.3%10.3%
Loss Given Default49%49%
Nonrecurring:
Collateral-dependent loans$36,689 Third-party appraisals and discounted cash flowsCollateral discounts and
discount rates
15% - 71%
35%
Other real estate owned$201 Third-party appraisals and sales contractsCollateral discounts and estimated
costs to sell
15%
15%
Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments
The carrying amount and estimated fair value of the Company’s financial instruments, not shown elsewhere in these financial statements, were as follows:
Fair Value Measurements
June 30, 2026
(dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total
Financial assets:
Cash and due from banks$237,431 $237,431 $— $— $237,431 
Interest-bearing deposits in banks959,682 959,682 — — 959,682 
Debt securities held-to-maturity208,155 — 192,993 — 192,993 
Loans, net21,782,626 — — 21,603,398 21,603,398 
Financial liabilities:
Deposits22,587,573 — 22,582,379 — 22,582,379 
Other borrowings1,250,049 342,000 906,218 — 1,248,218 
Subordinated deferrable interest debentures135,299 — 143,196 — 143,196 

Fair Value Measurements
December 31, 2025
(dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total
Financial assets:
Cash and due from banks$253,807 $253,807 $— $— $253,807 
Interest-bearing deposits in banks835,113 835,113 — — 835,113 
Debt securities held-to-maturity203,242 — 189,873 — 189,873 
Loans, net21,128,692 — — 20,957,101 20,957,101 
Financial liabilities:
Deposits22,375,995 — 22,370,800 — 22,370,800 
Other borrowings558,039 524,908 31,183 — 556,091 
Subordinated deferrable interest debentures134,302 — 142,340 — 142,340