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Investment Securities (Tables) | 3 Months Ended
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Mar. 31, 2024
Investment Securities |
Schedule of amortized cost and fair value of securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024 | ​ | December 31, 2023
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Value |  | Cost |  | Gains |  | Losses |  | Value
U.S. Treasury and government agency debt securities | ​ | $ | 13,254 | ​ | $ | — | ​ | $ | (433) | ​ | $ | 12,821 | ​ | $ | 33,169 | ​ | $ | — | ​ | $ | (666) | ​ | $ | 32,503
Government-sponsored enterprises debt securities | ​ | ​ | 20,000 | ​ | ​ | — | ​ | ​ | (371) | ​ | ​ | 19,629 | ​ | ​ | 20,000 | ​ | ​ | — | ​ | ​ | (408) | ​ | ​ | 19,592
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | 10,959 | ​ | ​ | — | ​ | ​ | (1,350) | ​ | ​ | 9,609 | ​ | ​ | 11,303 | ​ | ​ | — | ​ | ​ | (1,121) | ​ | ​ | 10,182
Residential - Government-sponsored enterprises | ​ | ​ | 868,033 | ​ | ​ | — | ​ | ​ | (114,648) | ​ | ​ | 753,385 | ​ | ​ | 895,421 | ​ | ​ | — | ​ | ​ | (112,124) | ​ | ​ | 783,297
Commercial - Government agency | ​ | ​ | 264,691 | ​ | ​ | — | ​ | ​ | (51,297) | ​ | ​ | 213,394 | ​ | ​ | 268,944 | ​ | ​ | — | ​ | ​ | (50,270) | ​ | ​ | 218,674
Commercial - Government-sponsored enterprises | ​ | ​ | 90,441 | ​ | ​ | — | ​ | ​ | (6,951) | ​ | ​ | 83,490 | ​ | ​ | 93,459 | ​ | ​ | — | ​ | ​ | (7,028) | ​ | ​ | 86,431
Commercial - Non-agency | ​ | ​ | 21,968 | ​ | ​ | 142 | ​ | ​ | — | ​ | ​ | 22,110 | ​ | ​ | 21,964 | ​ | ​ | — | ​ | ​ | (281) | ​ | ​ | 21,683
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | 523,160 | ​ | ​ | — | ​ | ​ | (70,997) | ​ | ​ | 452,163 | ​ | ​ | 538,718 | ​ | ​ | — | ​ | ​ | (67,568) | ​ | ​ | 471,150
Government-sponsored enterprises | ​ | ​ | 413,731 | ​ | ​ | — | ​ | ​ | (60,670) | ​ | ​ | 353,061 | ​ | ​ | 425,826 | ​ | ​ | — | ​ | ​ | (61,856) | ​ | ​ | 363,970
Collateralized loan obligations | ​ | ​ | 239,872 | ​ | ​ | 383 | ​ | ​ | (579) | ​ | ​ | 239,676 | ​ | ​ | 249,871 | ​ | ​ | 43 | ​ | ​ | (2,060) | ​ | ​ | 247,854
Total available-for-sale securities | ​ | $ | 2,466,109 | ​ | $ | 525 | ​ | $ | (307,296) | ​ | $ | 2,159,338 | ​ | $ | 2,558,675 | ​ | $ | 43 | ​ | $ | (303,382) | ​ | $ | 2,255,336
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency debt securities | ​ | $ | 51,904 | ​ | $ | — | ​ | $ | (5,300) | ​ | $ | 46,604 | ​ | $ | 52,051 | ​ | $ | — | ​ | $ | (4,497) | ​ | $ | 47,554
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | 42,961 | ​ | ​ | — | ​ | ​ | (6,209) | ​ | ​ | 36,752 | ​ | ​ | 43,885 | ​ | ​ | — | ​ | ​ | (5,189) | ​ | ​ | 38,696
Residential - Government-sponsored enterprises | ​ | ​ | 97,914 | ​ | ​ | — | ​ | ​ | (13,466) | ​ | ​ | 84,448 | ​ | ​ | 99,379 | ​ | ​ | — | ​ | ​ | (11,013) | ​ | ​ | 88,366
Commercial - Government agency | ​ | ​ | 30,853 | ​ | ​ | — | ​ | ​ | (7,651) | ​ | ​ | 23,202 | ​ | ​ | 30,795 | ​ | ​ | — | ​ | ​ | (7,017) | ​ | ​ | 23,778
Commercial - Government-sponsored enterprises | ​ | ​ | 1,127,321 | ​ | ​ | 167 | ​ | ​ | (144,378) | ​ | ​ | 983,110 | ​ | ​ | 1,129,738 | ​ | ​ | 195 | ​ | ​ | (130,757) | ​ | ​ | 999,176
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | 972,199 | ​ | ​ | — | ​ | ​ | (125,164) | ​ | ​ | 847,035 | ​ | ​ | 989,130 | ​ | ​ | — | ​ | ​ | (109,471) | ​ | ​ | 879,659
Government-sponsored enterprises | ​ | ​ | 1,610,563 | ​ | ​ | — | ​ | ​ | (209,655) | ​ | ​ | 1,400,908 | ​ | ​ | 1,642,274 | ​ | ​ | — | ​ | ​ | (193,897) | ​ | ​ | 1,448,377
Debt securities issued by states and political subdivisions | ​ | ​ | 54,296 | ​ | ​ | — | ​ | ​ | (5,645) | ​ | ​ | 48,651 | ​ | ​ | 54,197 | ​ | ​ | — | ​ | ​ | (4,947) | ​ | ​ | 49,250
Total held-to-maturity securities | ​ | $ | 3,988,011 | ​ | $ | 167 | ​ | $ | (517,468) | ​ | $ | 3,470,710 | ​ | $ | 4,041,449 | ​ | $ | 195 | ​ | $ | (466,788) | ​ | $ | 3,574,856
Schedule of amortized cost and fair value of debt securities by contractual maturity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024
​ | ​ | Amortized | ​ | Fair
(dollars in thousands) |  | Cost |  | Value
Available-for-sale securities | ​ | ​ | ​ | ​ | ​ | ​
Due in one year or less | ​ | $ | 13,254 | ​ | $ | 12,821
Due after one year through five years | ​ | ​ | 29,275 | ​ | ​ | 28,885
Due after five years through ten years | ​ | ​ | 87,696 | ​ | ​ | 87,617
Due after ten years | ​ | ​ | 164,869 | ​ | ​ | 164,913
​ | ​ | ​ | 295,094 | ​ | ​ | 294,236
​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | 10,959 | ​ | ​ | 9,609
Residential - Government-sponsored enterprises | ​ | ​ | 868,033 | ​ | ​ | 753,385
Commercial - Government agency | ​ | ​ | 264,691 | ​ | ​ | 213,394
Commercial - Government-sponsored enterprises | ​ | ​ | 90,441 | ​ | ​ | 83,490
Total mortgage-backed securities | ​ | ​ | 1,234,124 | ​ | ​ | 1,059,878
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | 523,160 | ​ | ​ | 452,163
Government-sponsored enterprises | ​ | ​ | 413,731 | ​ | ​ | 353,061
Total collateralized mortgage obligations | ​ | ​ | 936,891 | ​ | ​ | 805,224
Total available-for-sale securities | ​ | $ | 2,466,109 | ​ | $ | 2,159,338
​ | ​ | ​ | ​ | ​ | ​ | ​
Held-to-maturity securities | ​ | ​ | ​ | ​ | ​ | ​
Due in one year or less | ​ | $ | — | ​ | $ | —
Due after one year through five years | ​ | ​ | — | ​ | ​ | —
Due after five years through ten years | ​ | ​ | 22,132 | ​ | ​ | 20,121
Due after ten years | ​ | ​ | 84,068 | ​ | ​ | 75,134
​ | ​ | ​ | 106,200 | ​ | ​ | 95,255
​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | 42,961 | ​ | ​ | 36,752
Residential - Government-sponsored enterprises | ​ | ​ | 97,914 | ​ | ​ | 84,448
Commercial - Government agency | ​ | ​ | 30,853 | ​ | ​ | 23,202
Commercial - Government-sponsored enterprises | ​ | ​ | 1,127,321 | ​ | ​ | 983,110
Total mortgage-backed securities | ​ | ​ | 1,299,049 | ​ | ​ | 1,127,512
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | 972,199 | ​ | ​ | 847,035
Government-sponsored enterprises | ​ | ​ | 1,610,563 | ​ | ​ | 1,400,908
Total collateralized mortgage obligations | ​ | ​ | 2,582,762 | ​ | ​ | 2,247,943
Total held-to-maturity securities | ​ | $ | 3,988,011 | ​ | $ | 3,470,710
Schedule of gross unrealized losses and fair values of securities in a continuous loss position | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Time in Continuous Loss as of March 31, 2024
​ | ​ | Less Than 12 Months | ​ | 12 Months or More | ​ | Total
​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​
(dollars in thousands) |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value
U.S. Treasury and government agency debt securities | ​ | $ | — | ​ | $ | — | ​ | $ | (433) | ​ | $ | 12,821 | ​ | $ | (433) | ​ | $ | 12,821
Government-sponsored enterprises debt securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (371) | ​ | ​ | 19,629 | ​ | ​ | (371) | ​ | ​ | 19,629
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,350) | ​ | ​ | 9,609 | ​ | ​ | (1,350) | ​ | ​ | 9,609
Residential - Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (114,648) | ​ | ​ | 753,385 | ​ | ​ | (114,648) | ​ | ​ | 753,385
Commercial - Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (51,297) | ​ | ​ | 213,394 | ​ | ​ | (51,297) | ​ | ​ | 213,394
Commercial - Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (6,951) | ​ | ​ | 83,490 | ​ | ​ | (6,951) | ​ | ​ | 83,490
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (70,997) | ​ | ​ | 452,163 | ​ | ​ | (70,997) | ​ | ​ | 452,163
Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (60,670) | ​ | ​ | 353,061 | ​ | ​ | (60,670) | ​ | ​ | 353,061
Collateralized loan obligations | ​ | ​ | (8) | ​ | ​ | 8,492 | ​ | ​ | (571) | ​ | ​ | 99,029 | ​ | ​ | (579) | ​ | ​ | 107,521
Total available-for-sale securities with unrealized losses | ​ | $ | (8) | ​ | $ | 8,492 | ​ | $ | (307,288) | ​ | $ | 1,996,581 | ​ | $ | (307,296) | ​ | $ | 2,005,073
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Time in Continuous Loss as of December 31, 2023
​ | ​ | Less Than 12 Months | ​ | 12 Months or More | ​ | Total
​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​
(dollars in thousands) |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value
U.S. Treasury and government agency debt securities | ​ | $ | — | ​ | $ | — | ​ | $ | (666) | ​ | $ | 32,503 | ​ | $ | (666) | ​ | $ | 32,503
Government-sponsored enterprises debt securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (408) | ​ | ​ | 19,592 | ​ | ​ | (408) | ​ | ​ | 19,592
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,121) | ​ | ​ | 10,182 | ​ | ​ | (1,121) | ​ | ​ | 10,182
Residential - Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (112,124) | ​ | ​ | 783,297 | ​ | ​ | (112,124) | ​ | ​ | 783,297
Commercial - Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (50,270) | ​ | ​ | 218,674 | ​ | ​ | (50,270) | ​ | ​ | 218,674
Commercial - Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (7,028) | ​ | ​ | 86,431 | ​ | ​ | (7,028) | ​ | ​ | 86,431
Commercial - Non-agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (281) | ​ | ​ | 21,683 | ​ | ​ | (281) | ​ | ​ | 21,683
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (67,568) | ​ | ​ | 471,150 | ​ | ​ | (67,568) | ​ | ​ | 471,150
Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (61,856) | ​ | ​ | 363,970 | ​ | ​ | (61,856) | ​ | ​ | 363,970
Collateralized loan obligations | ​ | ​ | (564) | ​ | ​ | 63,667 | ​ | ​ | (1,496) | ​ | ​ | 163,126 | ​ | ​ | (2,060) | ​ | ​ | 226,793
Total available-for-sale securities with unrealized losses | ​ | $ | (564) | ​ | $ | 63,667 | ​ | $ | (302,818) | ​ | $ | 2,170,608 | ​ | $ | (303,382) | ​ | $ | 2,234,275

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