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Allowance for Credit Losses (ACL) | 3 Months Ended
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Mar. 31, 2026
Allowance for Credit Losses (ACL) |
Allowance for Credit Losses (ACL) | Note 6 — Allowance for Credit Losses (ACL) See Note 2 — Summary of Significant Accounting Policies for further detailed descriptions of our estimation process and methodology related to the allowance for credit losses. ​ The following table presents a disaggregated analysis of activity in the allowance for credit losses for the three months ended March 31, 2026 and 2025:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Residential | ​ | Residential | ​ | ​ | ​ | Residential | ​ | Comm Constr. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | CRE Owner- | ​ | Non-Owner- | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | Mortgage Sr. | ​ | Mortgage Jr. | ​ | HELOC | ​ | Construction | ​ | & Dev. | ​ | Consumer | ​ | Multifamily | ​ | Municipal | ​ | Occupied | ​ | Occupied CRE | ​ | C & I | ​ | Total
Three Months Ended March 31, 2026 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at end of period December 31, 2025 | ​ | $ | 55,947 | ​ | $ | 1,356 | ​ | $ | 14,150 | ​ | $ | 8,732 | ​ | $ | 53,494 | ​ | $ | 19,280 | ​ | $ | 58,678 | ​ | $ | 1,799 | ​ | $ | 73,871 | ​ | $ | 174,797 | ​ | $ | 123,093 | ​ | $ | 585,197
Charge-offs | ​ |  | (1,582) | ​ |  | — | ​ |  | (121) | ​ |  | — | ​ |  | (166) | ​ |  | (2,133) | ​ |  | — | ​ |  | — | ​ |  | (94) | ​ | ​ | — | ​ | ​ | (10,338) | ​ |  | (14,434)
Recoveries | ​ |  | 49 | ​ |  | 93 | ​ |  | 354 | ​ |  | — | ​ |  | 54 | ​ |  | 886 | ​ |  | 16 | ​ |  | — | ​ |  | 83 | ​ | ​ | 8 | ​ | ​ | 2,378 | ​ |  | 3,921
Net (charge-offs) recoveries | ​ | ​ | (1,533) | ​ |  | 93 | ​ |  | 233 | ​ |  | — | ​ |  | (112) | ​ |  | (1,247) | ​ |  | 16 | ​ |  | — | ​ |  | (11) | ​ | ​ | 8 | ​ | ​ | (7,960) | ​ | ​ | (10,513)
Provision (recovery) (2) | ​ |  | 4,545 | ​ |  | (65) | ​ |  | (617) | ​ |  | (550) | ​ |  | (6,841) | ​ |  | (247) | ​ |  | (2,832) | ​ |  | 118 | ​ |  | 2,939 | ​ | ​ | 13,341 | ​ | ​ | 1,407 | ​ |  | 11,198
Balance at end of period March 31, 2026 | ​ | $ | 58,959 | ​ | $ | 1,384 | ​ | $ | 13,766 | ​ | $ | 8,182 | ​ | $ | 46,541 | ​ | $ | 17,786 | ​ | $ | 55,862 | ​ | $ | 1,917 | ​ | $ | 76,799 | ​ | $ | 188,146 | ​ | $ | 116,540 | ​ | $ | 585,882
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended March 31, 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at end of period December 31, 2024 | ​ | $ | 42,687 | ​ | $ | 432 | ​ | $ | 14,845 | ​ | $ | 9,298 | ​ | $ | 65,553 | ​ | $ | 17,484 | ​ | $ | 22,279 | ​ | $ | 1,197 | ​ | $ | 78,753 | ​ | $ | 111,538 | ​ | $ | 101,214 | ​ | $ | 465,280
Allowance Adjustment – FMV for Independent Merger | ​ | ​ | 1,852 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 6,448 | ​ | ​ | 114 | ​ | ​ | 3,561 | ​ | ​ | — | ​ | ​ | 8,075 | ​ | ​ | 93,820 | ​ | ​ | 4,773 | ​ | ​ | 118,643
Initial Allowance for Non-PCD loans acquired during period | ​ | ​ | 8,910 | ​ | ​ | 85 | ​ | ​ | 91 | ​ | ​ | 4,700 | ​ | ​ | 11,751 | ​ | ​ | 254 | ​ | ​ | 3,805 | ​ | ​ | 1,947 | ​ | ​ | 3,186 | ​ | ​ | 31,557 | ​ | ​ | 13,685 | ​ | ​ | 79,971
Independent Day 1 Loan Net Charge-offs PCD (1) | ​ | ​ | (61) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,323) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,302) | ​ | ​ | (13,556) | ​ | ​ | (22,187) | ​ | ​ | (39,429)
Charge-offs | ​ |  | (507) | ​ |  | (13) | ​ |  | (229) | ​ |  | — | ​ |  | — | ​ |  | (1,805) | ​ |  | — | ​ |  | — | ​ |  | (204) | ​ | ​ | — | ​ | ​ | (4,664) | ​ |  | (7,422)
Recoveries | ​ |  | 200 | ​ |  | 24 | ​ |  | 380 | ​ |  | — | ​ |  | 98 | ​ |  | 830 | ​ |  | — | ​ |  | — | ​ |  | 50 | ​ | ​ | 96 | ​ | ​ | 1,304 | ​ |  | 2,982
Net (charge-offs) recoveries | ​ | ​ | (368) | ​ | ​ | 11 | ​ | ​ | 151 | ​ | ​ | — | ​ | ​ | 98 | ​ | ​ | (3,298) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,456) | ​ | ​ | (13,460) | ​ | ​ | (25,547) | ​ | ​ | (43,869)
Provision (recovery) (2) | ​ |  | 1,245 | ​ |  | 265 | ​ |  | (219) | ​ |  | (1,443) | ​ |  | (5,309) | ​ |  | 1,750 | ​ |  | 4,315 | ​ |  | (2,037) | ​ |  | 13,098 | ​ | ​ | (51,121) | ​ | ​ | 43,121 | ​ |  | 3,665
Balance at end of period March 31, 2025 | ​ | $ | 54,326 | ​ | $ | 793 | ​ | $ | 14,868 | ​ | $ | 12,555 | ​ | $ | 78,541 | ​ | $ | 16,304 | ​ | $ | 33,960 | ​ | $ | 1,107 | ​ | $ | 101,656 | ​ | $ | 172,334 | ​ | $ | 137,246 | ​ | $ | 623,690
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
| (1) | The Day 1 loan charge-offs for Independent loans were recorded to conform with the Company’s charge-off policies and practices.
| (2) | A negative provision (release) for credit losses for unfunded commitments of $0.4 million was recorded during the first quarter of 2026, compared to a provision for credit losses of $16.9 million, including $12.1 million for the initial provision for credit losses recorded for unfunded commitments acquired from Independent recorded during the first quarter of 2025, that is not included in the above table.

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