| Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The tables below present the balances of assets and liabilities measured at fair value on a recurring basis as of the dates presented.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying Value |
|
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
|
|
Significant Other Observable Inputs
(Level 2) |
|
|
Significant Unobservable Inputs
(Level 3) |
|
June 30, 2026 |
|
(Dollars in thousands) |
|
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
Investment securities - AFS: |
|
|
|
|
|
|
|
|
|
|
|
|
Government agency/GSE |
|
$ |
45,526 |
|
|
$ |
— |
|
|
$ |
45,526 |
|
|
$ |
— |
|
Mortgage-backed securities |
|
|
2,576,758 |
|
|
|
— |
|
|
|
2,576,758 |
|
|
|
— |
|
CMO/REMIC |
|
|
770,589 |
|
|
|
— |
|
|
|
770,589 |
|
|
|
— |
|
Municipal bonds |
|
|
20,825 |
|
|
|
— |
|
|
|
20,825 |
|
|
|
— |
|
Collateralized loan obligations |
|
|
42,029 |
|
|
|
|
|
|
42,029 |
|
|
|
|
Other securities |
|
|
2,037 |
|
|
|
— |
|
|
|
2,037 |
|
|
|
— |
|
Total investment securities - AFS |
|
|
3,457,764 |
|
|
|
— |
|
|
|
3,457,764 |
|
|
|
— |
|
Equity securities |
|
|
15,140 |
|
|
|
15,140 |
|
|
|
|
|
|
|
Derivatives not designated as hedging
instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
|
25,321 |
|
|
|
— |
|
|
|
25,321 |
|
|
|
— |
|
Derivatives designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
Fair value hedges: interest rate swaps |
|
|
3,820 |
|
|
|
— |
|
|
|
3,820 |
|
|
|
— |
|
Total assets |
|
$ |
3,502,045 |
|
|
$ |
15,140 |
|
|
$ |
3,486,905 |
|
|
$ |
— |
|
Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives not designated as hedging
instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
$ |
25,321 |
|
|
$ |
— |
|
|
$ |
25,321 |
|
|
$ |
— |
|
Derivatives designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow hedges: interest rate swaps |
|
|
414 |
|
|
|
— |
|
|
|
414 |
|
|
|
— |
|
Total liabilities |
|
$ |
25,735 |
|
|
$ |
— |
|
|
$ |
25,735 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying Value |
|
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
|
|
Significant Other Observable Inputs
(Level 2) |
|
|
Significant Unobservable Inputs
(Level 3) |
|
December 31, 2025 |
|
(Dollars in thousands) |
|
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
Investment securities - AFS: |
|
|
|
|
|
|
|
|
|
|
|
|
Government agency/GSE |
|
$ |
35,284 |
|
|
$ |
— |
|
|
$ |
35,284 |
|
|
$ |
— |
|
Mortgage-backed securities |
|
|
1,887,654 |
|
|
|
— |
|
|
|
1,887,654 |
|
|
|
— |
|
CMO/REMIC |
|
|
695,150 |
|
|
|
— |
|
|
|
695,150 |
|
|
|
— |
|
Municipal bonds |
|
|
21,290 |
|
|
|
— |
|
|
|
21,290 |
|
|
|
— |
|
Collateralized loan obligations |
|
|
42,000 |
|
|
|
|
|
|
42,000 |
|
|
|
|
Other securities |
|
|
1,692 |
|
|
|
— |
|
|
|
1,692 |
|
|
|
— |
|
Total investment securities - AFS |
|
|
2,683,070 |
|
|
|
— |
|
|
|
2,683,070 |
|
|
|
— |
|
Derivatives not designated as hedging
instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
|
161 |
|
|
|
— |
|
|
|
161 |
|
|
|
— |
|
Total assets |
|
$ |
2,683,231 |
|
|
$ |
— |
|
|
$ |
2,683,231 |
|
|
$ |
— |
|
Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives not designated as hedging
instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
$ |
161 |
|
|
$ |
— |
|
|
$ |
161 |
|
|
$ |
— |
|
Derivatives designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
Fair value hedges: interest rate swaps |
|
|
8,650 |
|
|
|
— |
|
|
|
8,650 |
|
|
|
— |
|
Cash flow hedges: interest rate swaps |
|
|
2,619 |
|
|
|
— |
|
|
|
2,619 |
|
|
|
— |
|
Total liabilities |
|
$ |
11,430 |
|
|
$ |
— |
|
|
$ |
11,430 |
|
|
$ |
— |
|
|
| Assets and Liabilities Measured at Fair Value on Non-Recurring Basis |
the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets that had losses during the period.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying value |
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
Significant Other Observable Inputs (Level 2) |
|
|
Significant Unobservable Inputs (Level 3) |
|
|
Total Losses For The Six Months Ended June 30, 2026 |
|
June 30, 2026 |
|
(Dollars in thousands) |
|
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
2,979 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,979 |
|
|
$ |
103 |
|
Other real estate owned |
|
|
43 |
|
|
|
— |
|
|
|
— |
|
|
|
43 |
|
|
|
— |
|
Total assets |
|
$ |
3,022 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,022 |
|
|
$ |
103 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying value |
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
Significant Other Observable Inputs (Level 2) |
|
|
Significant Unobservable Inputs (Level 3) |
|
|
Total Losses For The Year Ended December 31, 2025 |
|
December 31, 2025 |
|
(Dollars in thousands) |
|
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
12,614 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
12,614 |
|
|
$ |
2 |
|
SBA |
|
|
24 |
|
|
|
— |
|
|
|
— |
|
|
|
24 |
|
|
|
— |
|
Commercial and industrial |
|
|
8,953 |
|
|
|
— |
|
|
|
— |
|
|
|
8,953 |
|
|
|
254 |
|
Other real estate owned |
|
|
163 |
|
|
|
— |
|
|
|
— |
|
|
|
163 |
|
|
|
— |
|
Total assets |
|
$ |
21,754 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
21,754 |
|
|
$ |
256 |
|
|
| Estimated Fair Value of Financial Instruments |
The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
Carrying |
|
|
Estimated Fair Value |
|
|
Amount |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
(Dollars in thousands) |
|
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash and cash equivalents |
$ |
1,104,359 |
|
|
$ |
1,104,359 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,104,359 |
|
Interest-earning balances due from
depository institutions |
|
749 |
|
|
|
— |
|
|
|
749 |
|
|
|
— |
|
|
|
749 |
|
Investment securities available-for-sale |
|
3,457,764 |
|
|
|
— |
|
|
|
3,457,764 |
|
|
|
— |
|
|
|
3,457,764 |
|
Investment securities held-to-maturity |
|
2,218,529 |
|
|
|
— |
|
|
|
1,867,394 |
|
|
|
— |
|
|
|
1,867,394 |
|
Net loans and lease finance receivables |
|
11,890,394 |
|
|
|
— |
|
|
|
— |
|
|
|
11,762,758 |
|
|
|
11,762,758 |
|
Equity securities |
|
15,140 |
|
|
|
15,140 |
|
|
|
— |
|
|
|
— |
|
|
|
15,140 |
|
Derivatives not designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
25,321 |
|
|
|
— |
|
|
|
25,321 |
|
|
|
— |
|
|
|
25,321 |
|
Derivatives designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value hedges: interest rate swaps |
|
3,820 |
|
|
|
— |
|
|
|
3,820 |
|
|
|
— |
|
|
|
3,820 |
|
Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing |
$ |
7,681,777 |
|
|
$ |
— |
|
|
$ |
7,677,037 |
|
|
$ |
— |
|
|
$ |
7,677,037 |
|
Borrowings |
|
1,063,405 |
|
|
|
— |
|
|
|
1,002,939 |
|
|
|
— |
|
|
|
1,002,939 |
|
Subordinated debt |
|
38,973 |
|
|
|
— |
|
|
|
38,973 |
|
|
|
— |
|
|
|
38,973 |
|
Derivatives not designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
25,321 |
|
|
|
— |
|
|
|
25,321 |
|
|
|
— |
|
|
|
25,321 |
|
Derivatives designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow hedges: interest rate swaps |
|
414 |
|
|
|
— |
|
|
|
414 |
|
|
|
— |
|
|
|
414 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
Carrying |
|
|
Estimated Fair Value |
|
|
Amount |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
(Dollars in thousands) |
|
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash and cash equivalents |
$ |
376,389 |
|
|
$ |
376,389 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
376,389 |
|
Interest-earning balances due from
depository institutions |
|
13,064 |
|
|
|
— |
|
|
|
13,064 |
|
|
|
— |
|
|
|
13,064 |
|
Investment securities available-for-sale |
|
2,683,070 |
|
|
|
— |
|
|
|
2,683,070 |
|
|
|
— |
|
|
|
2,683,070 |
|
Investment securities held-to-maturity |
|
2,270,391 |
|
|
|
— |
|
|
|
1,925,492 |
|
|
|
— |
|
|
|
1,925,492 |
|
Net loans and lease finance receivables |
|
8,622,032 |
|
|
|
— |
|
|
|
— |
|
|
|
8,514,750 |
|
|
|
8,514,750 |
|
Derivatives not designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
161 |
|
|
|
— |
|
|
|
161 |
|
|
|
— |
|
|
|
161 |
|
Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing |
$ |
5,271,291 |
|
|
$ |
— |
|
|
$ |
5,268,983 |
|
|
$ |
— |
|
|
$ |
5,268,983 |
|
Borrowings |
|
990,601 |
|
|
|
— |
|
|
|
941,735 |
|
|
|
— |
|
|
|
941,735 |
|
Derivatives not designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
161 |
|
|
|
— |
|
|
|
161 |
|
|
|
— |
|
|
|
161 |
|
Derivatives designated as hedging instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value hedges: interest rate swaps |
|
8,650 |
|
|
|
— |
|
|
|
8,650 |
|
|
|
— |
|
|
|
8,650 |
|
Cash flow hedges: interest rate swaps |
|
2,619 |
|
|
|
— |
|
|
|
2,619 |
|
|
|
— |
|
|
|
2,619 |
|
|