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Investment Securities (Tables) | 9 Months Ended
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Sep. 30, 2024
Investment Securities |
Schedule of amortized cost and fair value of securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 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 | ​ | $ | 13,320 | ​ | $ | — | ​ | $ | (123) | ​ | $ | 13,197 | ​ | $ | 33,169 | ​ | $ | — | ​ | $ | (666) | ​ | $ | 32,503
Government-sponsored enterprises debt securities | ​ | ​ | 20,000 | ​ | ​ | — | ​ | ​ | (153) | ​ | ​ | 19,847 | ​ | ​ | 20,000 | ​ | ​ | — | ​ | ​ | (408) | ​ | ​ | 19,592
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | 10,356 | ​ | ​ | — | ​ | ​ | (989) | ​ | ​ | 9,367 | ​ | ​ | 11,303 | ​ | ​ | — | ​ | ​ | (1,121) | ​ | ​ | 10,182
Residential - Government-sponsored enterprises | ​ | ​ | 807,631 | ​ | ​ | — | ​ | ​ | (84,040) | ​ | ​ | 723,591 | ​ | ​ | 895,421 | ​ | ​ | — | ​ | ​ | (112,124) | ​ | ​ | 783,297
Commercial - Government agency | ​ | ​ | 260,845 | ​ | ​ | — | ​ | ​ | (44,835) | ​ | ​ | 216,010 | ​ | ​ | 268,944 | ​ | ​ | — | ​ | ​ | (50,270) | ​ | ​ | 218,674
Commercial - Government-sponsored enterprises | ​ | ​ | 73,614 | ​ | ​ | — | ​ | ​ | (4,547) | ​ | ​ | 69,067 | ​ | ​ | 93,459 | ​ | ​ | — | ​ | ​ | (7,028) | ​ | ​ | 86,431
Commercial - Non-agency | ​ | ​ | 22,000 | ​ | ​ | 69 | ​ | ​ | — | ​ | ​ | 22,069 | ​ | ​ | 21,964 | ​ | ​ | — | ​ | ​ | (281) | ​ | ​ | 21,683
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | 487,889 | ​ | ​ | — | ​ | ​ | (53,748) | ​ | ​ | 434,141 | ​ | ​ | 538,718 | ​ | ​ | — | ​ | ​ | (67,568) | ​ | ​ | 471,150
Government-sponsored enterprises | ​ | ​ | 386,576 | ​ | ​ | — | ​ | ​ | (46,850) | ​ | ​ | 339,726 | ​ | ​ | 425,826 | ​ | ​ | — | ​ | ​ | (61,856) | ​ | ​ | 363,970
Collateralized loan obligations | ​ | ​ | 208,550 | ​ | ​ | 396 | ​ | ​ | (2) | ​ | ​ | 208,944 | ​ | ​ | 249,871 | ​ | ​ | 43 | ​ | ​ | (2,060) | ​ | ​ | 247,854
Total available-for-sale securities | ​ | $ | 2,290,781 | ​ | $ | 465 | ​ | $ | (235,287) | ​ | $ | 2,055,959 | ​ | $ | 2,558,675 | ​ | $ | 43 | ​ | $ | (303,382) | ​ | $ | 2,255,336
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency debt securities | ​ | $ | 50,424 | ​ | $ | — | ​ | $ | (3,421) | ​ | $ | 47,003 | ​ | $ | 52,051 | ​ | $ | — | ​ | $ | (4,497) | ​ | $ | 47,554
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | 41,584 | ​ | ​ | — | ​ | ​ | (4,652) | ​ | ​ | 36,932 | ​ | ​ | 43,885 | ​ | ​ | — | ​ | ​ | (5,189) | ​ | ​ | 38,696
Residential - Government-sponsored enterprises | ​ | ​ | 94,039 | ​ | ​ | — | ​ | ​ | (9,769) | ​ | ​ | 84,270 | ​ | ​ | 99,379 | ​ | ​ | — | ​ | ​ | (11,013) | ​ | ​ | 88,366
Commercial - Government agency | ​ | ​ | 30,960 | ​ | ​ | — | ​ | ​ | (7,004) | ​ | ​ | 23,956 | ​ | ​ | 30,795 | ​ | ​ | — | ​ | ​ | (7,017) | ​ | ​ | 23,778
Commercial - Government-sponsored enterprises | ​ | ​ | 1,118,670 | ​ | ​ | 210 | ​ | ​ | (97,680) | ​ | ​ | 1,021,200 | ​ | ​ | 1,129,738 | ​ | ​ | 195 | ​ | ​ | (130,757) | ​ | ​ | 999,176
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | 928,546 | ​ | ​ | — | ​ | ​ | (94,856) | ​ | ​ | 833,690 | ​ | ​ | 989,130 | ​ | ​ | — | ​ | ​ | (109,471) | ​ | ​ | 879,659
Government-sponsored enterprises | ​ | ​ | 1,534,983 | ​ | ​ | — | ​ | ​ | (157,632) | ​ | ​ | 1,377,351 | ​ | ​ | 1,642,274 | ​ | ​ | — | ​ | ​ | (193,897) | ​ | ​ | 1,448,377
Debt securities issued by states and political subdivisions | ​ | ​ | 54,491 | ​ | ​ | — | ​ | ​ | (3,750) | ​ | ​ | 50,741 | ​ | ​ | 54,197 | ​ | ​ | — | ​ | ​ | (4,947) | ​ | ​ | 49,250
Total held-to-maturity securities | ​ | $ | 3,853,697 | ​ | $ | 210 | ​ | $ | (378,764) | ​ | $ | 3,475,143 | ​ | $ | 4,041,449 | ​ | $ | 195 | ​ | $ | (466,788) | ​ | $ | 3,574,856
Schedule of amortized cost and fair value of debt securities by contractual maturity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024
​ | ​ | Amortized | ​ | Fair
(dollars in thousands) |  | Cost |  | Value
Available-for-sale securities | ​ | ​ | ​ | ​ | ​ | ​
Due in one year or less | ​ | $ | 33,320 | ​ | $ | 33,045
Due after one year through five years | ​ | ​ | 9,275 | ​ | ​ | 9,281
Due after five years through ten years | ​ | ​ | 132,017 | ​ | ​ | 132,281
Due after ten years | ​ | ​ | 89,258 | ​ | ​ | 89,450
​ | ​ | ​ | 263,870 | ​ | ​ | 264,057
​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | 10,356 | ​ | ​ | 9,367
Residential - Government-sponsored enterprises | ​ | ​ | 807,631 | ​ | ​ | 723,591
Commercial - Government agency | ​ | ​ | 260,845 | ​ | ​ | 216,010
Commercial - Government-sponsored enterprises | ​ | ​ | 73,614 | ​ | ​ | 69,067
Total mortgage-backed securities | ​ | ​ | 1,152,446 | ​ | ​ | 1,018,035
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | 487,889 | ​ | ​ | 434,141
Government-sponsored enterprises | ​ | ​ | 386,576 | ​ | ​ | 339,726
Total collateralized mortgage obligations | ​ | ​ | 874,465 | ​ | ​ | 773,867
Total available-for-sale securities | ​ | $ | 2,290,781 | ​ | $ | 2,055,959
​ | ​ | ​ | ​ | ​ | ​ | ​
Held-to-maturity securities | ​ | ​ | ​ | ​ | ​ | ​
Due in one year or less | ​ | $ | — | ​ | $ | —
Due after one year through five years | ​ | ​ | — | ​ | ​ | —
Due after five years through ten years | ​ | ​ | 22,233 | ​ | ​ | 21,019
Due after ten years | ​ | ​ | 82,682 | ​ | ​ | 76,725
​ | ​ | ​ | 104,915 | ​ | ​ | 97,744
​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | 41,584 | ​ | ​ | 36,932
Residential - Government-sponsored enterprises | ​ | ​ | 94,039 | ​ | ​ | 84,270
Commercial - Government agency | ​ | ​ | 30,960 | ​ | ​ | 23,956
Commercial - Government-sponsored enterprises | ​ | ​ | 1,118,670 | ​ | ​ | 1,021,200
Total mortgage-backed securities | ​ | ​ | 1,285,253 | ​ | ​ | 1,166,358
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | 928,546 | ​ | ​ | 833,690
Government-sponsored enterprises | ​ | ​ | 1,534,983 | ​ | ​ | 1,377,351
Total collateralized mortgage obligations | ​ | ​ | 2,463,529 | ​ | ​ | 2,211,041
Total held-to-maturity securities | ​ | $ | 3,853,697 | ​ | $ | 3,475,143
Schedule of gross unrealized losses and fair values of securities in a continuous loss position | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Time in Continuous Loss as of September 30, 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 | ​ | $ | — | ​ | $ | — | ​ | $ | (123) | ​ | $ | 13,197 | ​ | $ | (123) | ​ | $ | 13,197
Government-sponsored enterprises debt securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (153) | ​ | ​ | 19,847 | ​ | ​ | (153) | ​ | ​ | 19,847
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (989) | ​ | ​ | 9,367 | ​ | ​ | (989) | ​ | ​ | 9,367
Residential - Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (84,040) | ​ | ​ | 723,591 | ​ | ​ | (84,040) | ​ | ​ | 723,591
Commercial - Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (44,835) | ​ | ​ | 216,010 | ​ | ​ | (44,835) | ​ | ​ | 216,010
Commercial - Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (4,547) | ​ | ​ | 69,067 | ​ | ​ | (4,547) | ​ | ​ | 69,067
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (53,748) | ​ | ​ | 434,141 | ​ | ​ | (53,748) | ​ | ​ | 434,141
Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (46,850) | ​ | ​ | 339,726 | ​ | ​ | (46,850) | ​ | ​ | 339,726
Collateralized loan obligations | ​ | ​ | (2) | ​ | ​ | 2,998 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2) | ​ | ​ | 2,998
Total available-for-sale securities with unrealized losses | ​ | $ | (2) | ​ | $ | 2,998 | ​ | $ | (235,285) | ​ | $ | 1,824,946 | ​ | $ | (235,287) | ​ | $ | 1,827,944
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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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