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Fair Value (Tables)

12 Months Ended

Dec. 31, 2025

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


	Investment				Commercial loans,
	securities				at fair value
	December 31, 2025		December 31, 2024		December 31, 2025		December 31, 2024
Beginning balance	$	3,462	$	12,071	$	223,115	$	332,766
Transfers to OREO		—		—		—		(2,863)
Total net (losses) or gains (realized/unrealized)
Included in earnings⁽¹⁾		—		—		1,815		3,016
Included in earnings (included in credit loss)		—		—		—		—
Included in other comprehensive income (loss)		—		503		—		—
Purchases, advances, sales and settlements
Advances		—		—		3,651		—
Settlements		(3,462)		(9,112)		(89,192)		(109,804)
Ending balance	$	—	$	3,462	$	139,389	$	223,115

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)

⁽¹⁾For commercial loans at fair value, gains or losses are recognized in Non-interest income—Net realized and unrealized gains on commercial loans, at fair value in the Consolidated Statements of Operations.

Fair Value Inputs, Assets, Quantitative Information



	Fair value at
	December 31, 2025		Valuation techniques	Unobservable inputs	Range	Weighted average
Commercial loans, at fair value:
Commercial - SBA	$	68,374	Discounted cash flow	Discount rate	5.73%	5.73%
Non-SBA commercial real estate		71,015	Discounted cash flow and appraisal	Discount rate	6.50%-8.98%	6.94%
	$	139,389


	Fair value at
	December 31, 2024		Valuation techniques	Unobservable inputs	Range	Weighted average
Investment securities:
Commercial mortgage-backed investment security	$	3,462	Discounted cash flow	Discount rate	9.45%	9.45%

Commercial loans, at fair value:
Commercial - SBA	$	89,902	Discounted cash flow	Discount rate	6.77%	6.77%
Non-SBA commercial real estate		133,213	Discounted cash flow and appraisal	Discount rate	6.80%-11.50%	8.77%
	$	223,115

Schedule Of Other Real Estate Owned


	December 31, 2025		December 31, 2024
Beginning balance	$	62,025	$	16,949
Transfer from loans, net		1,978		42,120
Total realized net gains included in earnings: Non-interest expense - other⁽¹⁾		754		—
Transfer from commercial loans, at fair value		—		2,863
Advances		2,142		1,695
Sales		(6,204)		(1,602)
Ending balance	$	60,695	$	62,025

⁽¹⁾Recognized in Non-interest expense - Other in the Consolidated Statements of Operations.

Carrying Amount And Estimated Fair Value Of Assets And Liabilities


	December 31, 2025
	Carrying		Estimated
	amount		fair value		Level 1		Level 2		Level 3
ASSETS:
Investment securities, available-for-sale	$	1,671,750	$	1,671,750	$	—	$	1,671,750	$	—
Commercial loans, at fair value		139,389		139,389		—		—		139,389
Loans, net of deferred loan fees and costs		7,116,676		7,073,348		—		—		7,073,348
FRB, FHLB and ACBB stock		25,205		25,205		—		—		25,205
Accrued interest receivable		43,090		43,090		—		43,090		—
Credit enhancement asset		31,138		31,138		—		31,138		—
LIABILITIES:
Deposits
Demand and interest checking		7,827,037		7,827,037		—		7,827,037		—
Savings and money market		338,459		338,459		—		338,459		—
Short-term borrowings		199,000		199,000		—		199,000		—
Senior debt		196,253		202,503		—		202,503		—
Subordinated debentures		13,401		11,220		—		—		11,220
Other long-term borrowings		13,712		13,712		—		13,712		—
Other liabilities:
Accrued interest payable		6,802		6,802		—		6,802		—


	December 31, 2024
	Carrying		Estimated
	amount		fair value		Level 1		Level 2		Level 3
ASSETS:
Investment securities, available-for-sale	$	1,502,860	$	1,502,860	$	—	$	1,499,398	$	3,462
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
FRB, FHLB and ACBB stock		15,642		15,642		—		—		15,642
Accrued interest receivable		41,713		41,713		—		41,713		—
Credit enhancement asset		12,909		12,909		—		12,909		—
LIABILITIES:
Deposits
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		—
Other liabilities:
Accrued interest payable		2,612		2,612		—		2,612		—

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



			December 31, 2025
	Total		Level 1		Level 2		Level 3
Investment securities, available-for-sale
Investment securities, available-for-sale
U.S. Government agency securities	$	25,109	$	—	$	25,109	$	—
Asset-backed securities		234,101		—		234,101		—
Obligations of states and political subdivisions		28,563		—		28,563		—
Residential mortgage-backed securities		464,323		—		464,323		—
Collateralized mortgage obligation securities		57,580		—		57,580		—
Commercial mortgage-backed securities		862,074		—		862,074		—
Total investment securities, available-for-sale		1,671,750		—		1,671,750		—
Commercial loans, at fair value		139,389		—		—		139,389
Credit enhancement asset		31,138		—		31,138		—
	$	1,842,277	$	—	$	1,702,888	$	139,389


			December 31, 2024
	Total		Level 1		Level 2		Level 3
Investment securities, available-for-sale	.
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
Credit enhancement asset		12,909		—		12,909		—
	$	1,738,884	$	—	$	1,512,307	$	226,577

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
	Fair value
	December 31, 2025		Level 1		Level 2		Level 3
Loans, net:
Collateral dependent loans with specific reserves	$	15,190	$	—	$	—	$	15,190
Other real estate owned		60,695		—		—		60,695
	$	75,885	$	—	$	—	$	75,885


			Fair Value Measurements at Reporting Date Using
	Fair value
	December 31, 2024		Level 1		Level 2		Level 3
Loans, net:
Collateral dependent loans with specific reserves	$	6,587	$	—	$	—	$	6,587
Other real estate owned		62,025		—		—		62,025
	$	68,612	$	—	$	—	$	68,612

- 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 + Details