XML 55 R39.htm IDEA: XBRL DOCUMENT v3.25.0.1

Fair Value Of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying Amount And Estimated Fair Value Of Assets And Liabilities

	December 31, 2024
							Quoted prices			Significant
							in active			other			Significant
							markets for			observable			unobservable
	Carrying			Estimated			identical assets			inputs			inputs
	amount			fair value			(Level 1)			(Level 2)			(Level 3)
		(Dollars in thousands)
Investment securities, available-for-sale	$	1,502,860		$	1,502,860		$	—		$	1,499,398		$	3,462
Federal Reserve, FHLB and ACBB stock		15,642			15,642			—			—			15,642
Commercial loans, at fair value		223,115			223,115			—			—			223,115
Loans, net of deferred loan fees and costs		6,113,628			5,998,293			—			—			5,998,293
Accrued interest receivable		41,713			41,713			—			41,713			—
Demand and interest checking		7,434,212			7,434,212			—			7,434,212			—
Savings and money market		311,834			311,834			—			311,834			—
Senior debt		96,214			99,000			—			99,000			—
Subordinated debentures		13,401			11,320			—			—			11,320
Other long-term borrowings		14,081			14,081			—			14,081			—
Accrued interest payable		2,612			2,612			—			2,612			—

	December 31, 2023
							Quoted prices			Significant
							in active			other			Significant
							markets for			observable			unobservable
	Carrying			Estimated			identical assets			inputs			inputs
	amount			fair value			(Level 1)			(Level 2)			(Level 3)
		(Dollars in thousands)
Investment securities, available-for-sale	$	747,534		$	747,534		$	—		$	735,463		$	12,071
Federal Reserve, FHLB and ACBB stock		15,591			15,591			—			—			15,591
Commercial loans, at fair value		332,766			332,766			—			—			332,766
Loans, net of deferred loan fees and costs		5,361,139			5,329,436			—			—			5,329,436
Accrued interest receivable		37,534			37,534			—			37,534			—
Interest rate swaps, asset		285			285			—			285			—
Demand and interest checking		6,630,251			6,630,251			—			6,630,251			—
Savings and money market		50,659			50,659			—			50,659			—
Senior debt		95,859			96,539			—			96,539			—
Subordinated debentures		13,401			11,470			—			—			11,470
Other long-term borrowings		38,561			38,561			—			38,561			—
Securities sold under agreements to repurchase		42			42			42			—			—
Accrued interest payable		1,060			1,060			—			1,060			—

Changes In Company's Level 3 Assets

The Company’s Level 3 asset activity for the categories shown for the years 2024 and 2023 is as follows (dollars in thousands):

		Fair Value Measurements Using
		Significant Unobservable Inputs
		(Level 3)
	Available-for-sale						Commercial loans,
	securities						at fair value
	December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2023
Beginning balance	$	12,071		$	20,023		$	332,766		$	589,143
Transfers to OREO		—			—			(2,863)			(2,686)
Total net gains or (losses) (realized/unrealized)
Included in earnings		—			—			3,016			3,869
Included in earnings (included in credit loss)		—			(10,000)			—			—
Included in other comprehensive income (loss)		503			2,048			—			—
Purchases, advances, sales and settlements
Advances		—			—			—			134,256
Settlements		(9,112)			—			(109,804)			(391,816)
Ending balance	$	3,462		$	12,071		$	223,115		$	332,766
Total losses year-to-date included
in earnings attributable to the change in
unrealized gains or losses relating to assets still
held at the reporting date as shown above.	$	—		$	—		$	(683)		$	(3,085)

Schedule Of Other Real Estate Owned

	December 31, 2024			December 31, 2023
Beginning balance	$	16,949		$	21,210
Transfer from loans, net		42,120			—
Transfer from commercial loans, at fair value		2,863			2,686
Advances		1,695			—
Write-downs		—			(1,147)
Sales		(1,602)			(5,800)
Ending balance	$	62,025		$	16,949

Fair Value Inputs, Assets, Quantitative Information

		Fair value at							Range at		Weighted average at
Level 3 instruments only		December 31, 2024			Valuation techniques		Unobservable inputs		December 31, 2024		December 31, 2024
Commercial mortgage-backed investment
security(1)		$	3,462		Discounted cash flow		Discount rate		9.45%		9.45%
Commercial - SBA(2)			89,902		Discounted cash flow		Discount rate		6.77%		6.77%
Non-SBA commercial real estate(3)			133,213		Discounted cash flow and appraisal		Discount rate		6.80%-11.50%		8.77%
Commercial loans, at fair value			223,115
OREO(4)			62,025		Appraised value		N/A		N/A		N/A

		Fair value at							Range at		Weighted average at
Level 3 instruments only		December 31, 2023			Valuation techniques		Unobservable inputs		December 31, 2023		December 31, 2023
Commercial mortgage-backed investment
security		$	12,071		Discounted cash flow		Discount rate		14.00%		14.00%
Commercial - SBA			119,287		Discounted cash flow		Discount rate		7.46%		7.46%
Non-SBA commercial real estate - fixed			162,674		Discounted cash flow and appraisal		Discount rate		8.00%-12.30%		8.76%
Non-SBA commercial real estate - floating			50,805		Discounted cash flow		Discount rate		9.30%-16.50%		14.19%
Commercial loans, at fair value			332,766
OREO			16,949		Appraised value		N/A		N/A		N/A

Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets Measured At Fair Value On A Recurring And Nonrecurring Basis

				Fair Value Measurements at Reporting Date Using
				Quoted prices in active			Significant other			Significant
				markets for identical			observable			unobservable
	Fair value			assets			inputs			inputs
	December 31, 2024			(Level 1)			(Level 2)			(Level 3)
Investment securities, available-for-sale
U.S. Government agency securities	$	29,962		$	—		$	29,962		$	—
Asset-backed securities		214,499			—			214,499			—
Obligations of states and political subdivisions		35,620			—			35,620			—
Residential mortgage-backed securities		433,419			—			433,419			—
Collateralized mortgage obligation securities		26,152			—			26,152			—
Commercial mortgage-backed securities		763,208			—			759,746			3,462
Total investment securities, available-for-sale		1,502,860			—			1,499,398			3,462
Commercial loans, at fair value		223,115			—			—			223,115
	$	1,725,975		$	—		$	1,499,398		$	226,577

				Fair Value Measurements at Reporting Date Using
				Quoted prices in active			Significant other			Significant
				markets for identical			observable			unobservable
	Fair value			assets			inputs			inputs
	December 31, 2023			(Level 1)			(Level 2)			(Level 3)
	.
Investment securities, available-for-sale
U.S. Government agency securities	$	33,886		$	—		$	33,886		$	—
Asset-backed securities		325,353			—			325,353			—
Obligations of states and political subdivisions		47,237			—			47,237			—
Residential mortgage-backed securities		160,767			—			160,767			—
Collateralized mortgage obligation securities		34,038			—			34,038			—
Commercial mortgage-backed securities		146,253			—			134,182			12,071
Total investment securities, available-for-sale		747,534			—			735,463			12,071
Commercial loans, at fair value		332,766			—			—			332,766
Interest rate swaps, asset		285			—			285			—
	$	1,080,585		$	—		$	735,748		$	344,837

Fair Value, Measurements, Nonrecurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets Measured At Fair Value On A Recurring And Nonrecurring Basis

				Fair Value Measurements at Reporting Date Using
				Quoted prices in active			Significant other			Significant
				markets for identical			observable			unobservable
	Fair value			assets			inputs			inputs(1)
Description	December 31, 2024			(Level 1)			(Level 2)			(Level 3)
Collateral dependent loans with specific reserves(1)	$	6,587		$	—		$	—		$	6,587
OREO		62,025			—			—			62,025
	$	68,612		$	—		$	—		$	68,612

				Fair Value Measurements at Reporting Date Using
				Quoted prices in active			Significant other			Significant
				markets for identical			observable			unobservable
	Fair value			assets			inputs			inputs(1)
Description	December 31, 2023			(Level 1)			(Level 2)			(Level 3)
Collateral dependent loans with specific reserves(1)	$	8,944		$	—		$	—		$	8,944
OREO		16,949			—			—			16,949
	$	25,893		$	—		$	—		$	25,893

⁽¹⁾ The method of valuation approach for the loans evaluated for an allowance for credit losses on an individual loan basis and also for OREO was the market approach based upon appraisals of the underlying collateral by external appraisers, reduced by 7% to 10% for estimated selling costs.

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in other real estate on properties owned. Excludes real estate assets taken in settlement of troubled loans through surrender or foreclosure by banks.

+ References

No definition available.

+ Details

Name:	us-gaap_OtherRealEstateRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: