v3.26.1
FAIR VALUE (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy and Fair Value of Financial Instruments
The estimated fair value hierarchy level and estimated fair value of financial instruments at June 30, 2026 and December 31, 2025, is summarized as follows:
June 30, 2026December 31, 2025
EstimatedEstimated
Fair ValueCarryingFairCarryingFair
(dollars in thousands)HierarchyValueValue ValueValue
Financial assets:
Cash and due from banksLevel 1$55,196 $55,196 $52,013 $52,013 
Fed funds and interest-bearing balancesLevel 1209,755 209,755 347,900 347,900 
Debt securities available for saleLevel 1/2308,792 308,792 234,890 234,890 
Debt securities held to maturityLevel 252,761 49,054 52,936 49,308 
Loans held for saleLevel 215,828 15,928 25,105 25,566 
Loans held for investment, netLevel 33,059,893 3,059,276 2,999,539 3,000,768 
Restricted stock, at costLevel 230,941 30,941 30,932 30,932 
Other equity securities(1)
Level 213,431 13,431 14,760 14,760 
Accrued interest receivableLevel 211,555 11,555 11,115 11,115 
Financial liabilities:
DepositsLevel 23,359,105 3,358,976 3,370,581 3,370,456 
BorrowingsLevel 234,611 33,610 33,832 34,149 
Accrued interest payableLevel 2635 635 679 679 
(1) Other equity securities are reported in accrued interest receivable and other assets in the consolidated balance sheets.
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis
The following table provides the hierarchy and fair value for each major category of assets and liabilities measured at fair value on a recurring basis at the periods indicated:
Recurring Fair Value Measurements
(dollars in thousands)Level 1Level 2Level 3Total
June 30, 2026
Securities available for sale:
U.S. government and agency and government sponsored enterprise securities:
Mortgage-backed securities$— $229,903 $— $229,903 
SBA securities— 3,088 — 3,088 
U.S. Treasury2,442 — — 2,442 
U.S. Agency— 1,776 — 1,776 
Collateralized mortgage obligations— 70,649 — 70,649 
Taxable municipals— 934 — 934 
$2,442 $306,350 $— $308,792 
Recurring Fair Value Measurements
(dollars in thousands)Level 1Level 2Level 3Total
December 31, 2025
Securities available for sale:
U.S. government and agency and government sponsored enterprise securities:
Mortgage-backed securities$— $161,016 $— $161,016 
SBA securities— 3,816 — 3,816 
U.S. Treasury2,472 — — 2,472 
U.S. Agency— 1,793 — 1,793 
Collateralized mortgage obligations— 64,855 — 64,855 
Taxable municipals— 938 — 938 
$2,472 $232,418 $— $234,890 
Schedule of Fair Value Measurements, Nonrecurring
The following tables summarize the fair value of assets and liabilities measured at fair value on a nonrecurring basis as of June 30, 2026 and December 31, 2025. There was OREO of $8.6 million as of June 30, 2026. OREO is presented net of an allowance, and there were no allowances as of June 30, 2026. At December 31, 2025, there was no OREO. Only individually evaluated collateral-dependent loans with a related ACL or a partial charge off are included in the following table for purposes of fair value disclosures.
Fair Value Measurement Level
Quoted Prices in
Active Markets forSignificant OtherSignificant
FairIdentical AssetsObservable InputsUnobservable Inputs
(dollars in thousands)Value(Level 1)(Level 2)(Level 3)
June 30, 2026
Collateral dependent loans (1):
Construction and land
$4,627 $— $— $4,627 
Total collateral dependent loans$4,627 $— $— $4,627 
Foreclosed assets:
Other real estate owned, net$8,613 $— $— $8,613 
Fair Value Measurement Level
Quoted Prices in
Active Markets forSignificant OtherSignificant
FairIdentical AssetsObservable InputsUnobservable Inputs
(dollars in thousands)Value(Level 1)(Level 2)(Level 3)
December 31, 2025
Collateral dependent loans (1):
Construction and land
$13,908 $— $— $13,908 
$13,908 $— $— $13,908 
(1) Collateral-dependent loans whose fair value is based upon appraisals.
Schedule of Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
Quantitative information about Level 3 fair value measurements measured on a non-recurring basis are summarized below as of June 30, 2026 and December 31, 2025.
Asset FairValuationUnobservableRange %
(dollars in thousands)ValueTechniqueInput(Weighted Average)
June 30, 2026
Collateral dependent loans
Construction and land$4,627 Third party appraisalCost to sell
7.64% - 7.64%
(7.64%)
Total collateral dependent loans$4,627 
Other real estate owned, net$8,613 Third party appraisalCost to sell
9.80% – 9.80%
(9.80%)
December 31, 2025
Collateral dependent loans
Construction and land$9,281 Third party appraisalCost to sell
7.19% – 7.19%
(7.19%)
4,627 Third party appraisalCost to sell
7.64% - 7.64%
(7.64%)
Total collateral dependent loans$13,908