v3.26.3
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2026
Fair Value Measurements  
Summary of assets measured and reported at estimated fair value on a recurring basis

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September 30, 2026

​

Level 1

​

Level 2

​

Level 3

​

Fair Value

Assets:

​

(in thousands)

Available-for-sale debt securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury securities

​

$

92,599

​

$

—

​

$

—

​

$

92,599

U.S. Government agencies

​

​

—

​

​

4,553

​

​

—

​

​

4,553

Agency mortgage-backed securities

​

​

—

​

​

105,894

​

​

—

​

​

105,894

Agency collateralized mortgage obligations

​

​

—

​

​

12,564

​

​

—

​

​

12,564

Corporate bonds

​

​

—

​

​

42,061

​

​

14,329

​

​

56,390

Municipal obligations

​

​

—

​

​

1,960

​

​

—

​

​

1,960

SBA securities

​

​

—

​

​

5,558

​

​

—

​

​

5,558

Total available-for-sale debt securities

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$

92,599

​

$

172,590

​

$

14,329

​

$

279,518

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​

​

​

​

​

​

​

​

​

​

​

​

Derivative assets

​

$

—

​

$

30,716

​

$

—

​

$

30,716

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​

​

​

​

​

​

​

​

​

​

​

​

Liabilities:

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​

​

​

​

​

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​

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Derivative liabilities

​

$

—

​

$

38,847

​

$

—

​

$

38,847

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​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

​

Level 1

​

Level 2

​

Level 3

​

Fair Value

Assets:

​

(in thousands)

Available-for-sale debt securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury securities

​

$

95,783

​

$

—

​

$

—

​

$

95,783

U.S. Government agencies

​

​

—

​

​

9,212

​

​

—

​

​

9,212

Agency mortgage-backed securities

​

​

—

​

​

68,591

​

​

—

​

​

68,591

Agency collateralized mortgage obligations

​

​

—

​

​

12,237

​

​

—

​

​

12,237

Corporate bonds

​

​

—

​

​

55,664

​

​

14,221

​

​

69,885

Municipal obligations

​

​

—

​

​

6,524

​

​

—

​

​

6,524

SBA securities

​

​

—

​

​

6,727

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​

—

​

​

6,727

Total available-for-sale debt securities

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$

95,783

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$

158,955

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$

14,221

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$

268,959

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​

​

​

​

​

​

​

​

​

​

​

​

Derivative assets

​

$

—

​

$

23,578

​

$

—

​

$

23,578

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​

​

​

​

​

​

​

​

​

​

​

​

Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Derivative liabilities

​

$

—

​

$

22,311

​

$

—

​

$

22,311

Summary of assets measured at fair value on a non-recurring basis

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September 30, 2026

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  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Fair Value

​

​

(in thousands)

Collateral-dependent loans, net of reserve

​

$

—

​

$

—

​

$

168,920

​

$

168,920

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​

​

​

​

​

​

​

​

​

​

​

​

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​

December 31, 2025

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  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Fair Value

​

​

(in thousands)

Collateral-dependent loans, net of reserve

​

$

—

​

$

—

​

$

42,041

​

$

42,041

Summary of significant unobservable inputs used in the fair value measurements for Level 3 assets and liabilities measured at fair value on a nonrecurring basis

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  ​ ​ ​

Significant

  ​ ​ ​

Significant

  ​ ​ ​

  ​ ​ ​

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​

Valuation

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Observable

​

Unobservable

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​

Technique

​

Inputs

​

Inputs

Collateral-dependent loans

 

Appraisal Value / Comparison Sales / Enterprise Value

 

Appraisals and/or sales of comparable properties or financial statements of the business

 

Appraisals discounted 5% to 20% for sales commission and other holding costs; Enterprise value discounts of assets, liabilities and equity; industry Earnings Before Interest, Taxes, Depreciation and Amortization multiples

Summary of estimated fair values, related carrying amounts, and valuation level of the financial instruments

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September 30, 2026

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Carrying

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Fair

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Amount

​

Value

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Level 1

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Level 2

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Level 3

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(In thousands)

Financial Assets:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

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$

266,057

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$

266,057

​

$

266,057

​

$

—

​

$

—

Loans held for sale, at fair value

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​

55,906

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​

55,906

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​

55,906

​

​

—

​

​

—

Loans receivable, net

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​

6,687,548

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​

6,751,710

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​

—

​

​

—

​

​

6,751,710

Accrued interest receivable

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​

29,971

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​

29,971

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​

29,971

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​

—

​

​

—

Non-public investments

​

​

49,161

​

​

49,161

​

​

—

​

​

22,092

​

​

27,069

BOLI

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​

98,178

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​

98,178

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—

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​

98,178

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—

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​

​

​

​

​

​

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Financial Liabilities:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits, other than time deposits

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$

3,766,279

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$

3,766,279

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$

3,766,279

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$

—

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$

—

Time deposits

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​

2,755,117

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​

2,747,409

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​

—

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​

2,747,409

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—

FHLB and FRB borrowings

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​

150,322

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​

151,608

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—

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​

151,608

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—

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December 31, 2025

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Carrying

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Fair

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Amount

​

Value

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Level 1

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Level 2

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Level 3

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​

(In thousands)

Financial Assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

407,854

​

$

407,854

​

$

407,854

​

$

—

​

$

—

Loans held for sale, at fair value

​

​

66,447

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​

66,447

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​

66,447

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​

—

​

​

—

Loans receivable, net

​

​

5,898,729

​

​

5,893,652

​

​

—

​

​

—

​

​

5,893,652

Accrued interest receivable

​

​

25,390

​

​

25,390

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​

25,390

​

​

—

​

​

—

Non-public investments

​

​

33,740

​

​

33,740

​

​

—

​

​

16,594

​

​

17,146

BOLI

​

​

104,335

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​

104,335

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​

—

​

​

104,335

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—

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Financial Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits, other than time deposits

​

$

3,348,901

​

$

3,348,901

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$

3,348,901

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$

—

​

$

—

Time deposits

​

​

2,504,891

​

​

2,506,499

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​

—

​

​

2,506,499

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​

—

FHLB and FRB borrowings

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​

196,235

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​

191,970

​

​

—

​

​

191,970

​

​

—

​