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| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans | Loans a) Loans held for investment Loans held for investment consist of the following loan classes:
(1)Excludes accrued interest receivable. (2)Includes international loans for which the country of risk is primarily Venezuela. All international loans are denominated in and payable in U.S. dollars and represent less than 10% of total assets and total loans held for investment at any of the periods shown. Management does not consider these balances to represent a significant concentration of credit risk. At September 30, 2026 and December 31, 2025, loans with outstanding principal balances of $1.3 billion and $1.6 billion, respectively, were pledged as collateral to secure advances from the FHLB. The amounts in the table above include loans held for investment under syndication facilities for approximately $736.4 million and $434.9 million at September 30, 2026 and December 31, 2025, respectively, which include Shared National Credit (“SNC”), facilities and agreements to enter into credit agreements with other lenders (club deals) and other agreements. In the three and nine months periods ended September 30, 2026, the Company purchased residential loans held for investment of $230.4 million and $736.6 million, respectively, and syndicated commercial loans held for investment of $99.9 million and $210.5 million, respectively. There were no significant purchases of loans held for investment in the three and nine months periods ended September 30, 2025. The age analyses of the loan portfolio by class as of September 30, 2026 and December 31, 2025, are summarized in the following tables:
Nonaccrual status The following tables present the amortized cost basis of loans on nonaccrual status and loans past due over 90 days and still accruing as of September 30, 2026 and December 31, 2025:
__________________ (1)Excludes land development and construction in nonaccrual status with a carrying value of $16.2 million as of December 31, 2025, which were classified as held for sale carried at the lower of cost or fair value at that date. These loans were sold in January 2026. The Company did not recognize any interest income on nonaccrual loans during the three and nine month periods ended September 30, 2026 and 2025. b) Loans held for sale
_________________ (1) As of September 30, 2026 and December 31, 2025, these loans were rated Pass and Substandard, respectively. (2) Excludes accrued interest receivable. c) Significant Transfers to Held For Sale and Loan Sales In the three months ended September 30, 2026, there were no significant loan transfers from held for investment to held for sale. In the nine months ended September 30, 2026, the Company transferred commercial real estate, owner occupied and residential loans with a carrying value of $232.6 million from held for investment to held for sale, at the lower of cost or fair value. In addition to sales related to mortgage banking activities in the third quarter and first nine months of 2026, the Company sold loans for net proceeds of approximately $63.7 million and $218.9 million, respectively, mainly consisting of real estate and commercial loans. In the third quarter and first nine months of 2025, the Company sold loans for net proceeds of $33.8 million and $58.3 million, respectively, primarily commercial and real estate loans. See the Company’s consolidated statement of cash flows for more information on the sale of mortgage loans held for sale. As a result of the above transfers and sale of loans, the Company recognized reversal of losses totaling $0.1 million and net losses of $2.9 million during the third quarter and first nine months of 2026, respectively, which are included in the Company's results of operations as losses on loans held for sale carried at the lower of cost or fair value. In the third quarter and first nine months of 2025, the Company recognized gains on loan sales of $0.1 million and $3.3 million, respectively. In addition, in the three and nine month periods ended September 30, 2025, the Company had a loss of $0.9 million on the sale of a loan carried at the lower of cost or fair value. d) Concentration of risk While seeking diversification of our loan portfolio held for investment and held for sale, the Company is dependent mostly on the economic conditions that affect South and Central Florida, Tampa, and the greater Houston and New York City areas, especially the five New York City boroughs. At September 30, 2026, our commercial real estate loans held for investment based in South Florida, Tampa and Central Florida, New York, Houston, and other regions were $1.4 billion, $276 million, $106 million, $176 million and $281 million, respectively. e) Accrued interest receivable on loans Accrued interest receivable on total loans, including loans held for investment and held for sale, was $28.9 million and $24.3 million as of September 30, 2026 and December 31, 2025, respectively.
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