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Fair Value Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the dates presented.
|  | Carrying Value at December 31, 2024 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | (Dollars in thousands) |
Description of assets |  |  |  |  |  |  |  |  |  |  |  |
Investment securities - AFS: |  |  |  |  |  |  |  |  |  |  |  |
Government agency/GSE |  | $ | 34,255 |  |  | $ | — |  |  | $ | 34,255 |  |  | $ | — |
Mortgage-backed securities |  |  | 2,134,534 |  |  |  | — |  |  |  | 2,134,534 |  |  |  | — |
CMO/REMIC |  |  | 351,522 |  |  |  | — |  |  |  | 351,522 |  |  |  | — |
Municipal bonds |  |  | 20,377 |  |  |  | — |  |  |  | 20,377 |  |  |  | — |
Other securities |  |  | 1,427 |  |  |  | — |  |  |  | 1,427 |  |  |  | — |
Total investment securities - AFS |  |  | 2,542,115 |  |  |  | — |  |  |  | 2,542,115 |  |  |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 30 |  |  |  | — |  |  |  | 30 |  |  |  | — |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  |  | 7,222 |  |  |  | — |  |  |  | 7,222 |  |  |  | — |
Cash flow hedges: interest rate swaps |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total assets |  | $ | 2,549,367 |  |  | $ | — |  |  | $ | 2,549,367 |  |  | $ | — |
Description of liability |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 30 |  |  | $ | — |  |  | $ | 30 |  |  | $ | — |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Cash flow hedges: interest rate swaps |  |  | 517 |  |  |  | — |  |  |  | 517 |  |  |  | — |
Total liabilities |  | $ | 547 |  |  | $ | — |  |  | $ | 547 |  |  | $ | — |
|  | Carrying Value at December 31, 2023 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | (Dollars in thousands) |
Description of assets |  |  |  |  |  |  |  |  |  |  |  |
Investment securities - AFS: |  |  |  |  |  |  |  |  |  |  |  |
Government agency/GSE |  | $ | 32,253 |  |  | $ | — |  |  | $ | 32,253 |  |  | $ | — |
Mortgage-backed securities |  |  | 2,507,679 |  |  |  | — |  |  |  | 2,507,679 |  |  |  | — |
CMO/REMIC |  |  | 389,362 |  |  |  | — |  |  |  | 389,362 |  |  |  | — |
Municipal bonds |  |  | 25,635 |  |  |  | — |  |  |  | 25,635 |  |  |  | — |
Other securities |  |  | 1,196 |  |  |  | — |  |  |  | 1,196 |  |  |  | — |
Total investment securities - AFS |  |  | 2,956,125 |  |  |  | — |  |  |  | 2,956,125 |  |  |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 112 |  |  |  | — |  |  |  | 112 |  |  |  | — |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total assets |  | $ | 2,956,237 |  |  | $ | — |  |  | $ | 2,956,237 |  |  | $ | — |
Description of liability |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 112 |  |  | $ | — |  |  | $ | 112 |  |  | $ | — |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 6,938 |  |  |  | — |  |  |  | 6,938 |  |  |  | — |
Total liabilities |  | $ | 7,050 |  |  | $ | — |  |  | $ | 7,050 |  |  | $ | — |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets that had losses during the period. The fair values were determined using inputs based on observable market data or based on discounted cash flow criteria.
|  | Carrying Value at December 31, 2024 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Losses For the Year Ended December 31, 2024 |
|  | (Dollars in thousands) |
Description of assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 28,728 |  |  | $ | — |  |  | $ | — |  |  | $ | 28,728 |  |  | $ | 11 |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
SBA |  |  | 1,532 |  |  |  | — |  |  |  | — |  |  |  | 1,532 |  |  |  | 49 |
SBA - PPP |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial and industrial |  |  | 3,144 |  |  |  | — |  |  |  | — |  |  |  | 3,144 |  |  |  | 220 |
Dairy & livestock and agribusiness |  |  | 860 |  |  |  | — |  |  |  | — |  |  |  | 860 |  |  |  | 9 |
Municipal lease finance receivables |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
SFR mortgage |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer and other loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other real estate owned |  |  | 10,429 |  |  |  | — |  |  |  | — |  |  |  | 10,429 |  |  |  | 2,296 |
Total assets |  | $ | 44,693 |  |  | $ | — |  |  | $ | — |  |  | $ | 44,693 |  |  | $ | 2,585 |
|  | Carrying Value at December 31, 2023 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Losses For the Year Ended December 31, 2023 |
|  | (Dollars in thousands) |
Description of assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 18,678 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,678 |  |  | $ | 2,128 |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
SBA |  |  | 995 |  |  |  | — |  |  |  | — |  |  |  | 995 |  |  |  | 57 |
SBA - PPP |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial and industrial |  |  | 6,092 |  |  |  | — |  |  |  | — |  |  |  | 6,092 |  |  |  | 3,510 |
Dairy & livestock and agribusiness |  |  | 4,700 |  |  |  | — |  |  |  | — |  |  |  | 4,700 |  |  |  | 27 |
Municipal lease finance receivables |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
SFR mortgage |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer and other loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other real estate owned |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total assets |  | $ | 30,465 |  |  | $ | — |  |  | $ | — |  |  | $ | 30,465 |  |  | $ | 5,722 |
Estimated Fair Value of Financial Instruments | The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.
| December 31, 2024 |
| Carrying |  |  | Estimated Fair Value |
| Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
| (Dollars in thousands) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents | $ | 204,698 |  |  | $ | 204,698 |  |  | $ | — |  |  | $ | — |  |  | $ | 204,698 |
Interest-earning balances due from depository institutions |  | 480 |  |  |  | — |  |  |  | 480 |  |  |  | — |  |  |  | 480 |
Investment securities available-for-sale |  | 2,542,115 |  |  |  | — |  |  |  | 2,542,115 |  |  |  | — |  |  |  | 2,542,115 |
Investment securities held-to-maturity |  | 2,379,668 |  |  |  | — |  |  |  | 1,954,345 |  |  |  | — |  |  |  | 1,954,345 |
Total loans, net of allowance for credit losses |  | 8,456,310 |  |  |  | — |  |  |  | — |  |  |  | 8,149,801 |  |  |  | 8,149,801 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | 30 |  |  |  | — |  |  |  | 30 |  |  |  | — |  |  |  | 30 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  | 7,222 |  |  |  | — |  |  |  | 7,222 |  |  |  | — |  |  |  | 7,222 |
Cash flow hedges: interest rate swaps |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing | $ | 4,911,285 |  |  | $ | — |  |  | $ | 4,908,070 |  |  | $ | — |  |  | $ | 4,908,070 |
Borrowings |  | 761,887 |  |  |  | — |  |  |  | 716,566 |  |  |  | — |  |  |  | 716,566 |
Junior subordinated debentures |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | 30 |  |  |  | — |  |  |  | 30 |  |  |  | — |  |  |  | 30 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Cash flow hedges: interest rate swaps |  | 517 |  |  |  | — |  |  |  | 517 |  |  |  | — |  |  |  | 517 |
|  | December 31, 2023 |
|  | Carrying |  |  | Estimated Fair Value |
|  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (Dollars in thousands) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 281,285 |  |  | $ | 281,285 |  |  | $ | — |  |  | $ | — |  |  | $ | 281,285 |
Interest-earning balances due from depository institutions |  |  | 8,216 |  |  |  | — |  |  |  | 8,216 |  |  |  | — |  |  |  | 8,216 |
Investment securities available-for-sale |  |  | 2,956,125 |  |  |  | — |  |  |  | 2,956,125 |  |  |  | — |  |  |  | 2,956,125 |
Investment securities held-to-maturity |  |  | 2,464,610 |  |  |  | — |  |  |  | 2,082,881 |  |  |  | — |  |  |  | 2,082,881 |
Total loans, net of allowance for credit losses |  |  | 8,818,068 |  |  |  | — |  |  |  | — |  |  |  | 8,503,518 |  |  |  | 8,503,518 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 112 |  |  |  | — |  |  |  | 112 |  |  |  | — |  |  |  | 112 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing |  | $ | 4,227,467 |  |  | $ | — |  |  | $ | 4,222,773 |  |  | $ | — |  |  | $ | 4,222,773 |
Borrowings |  |  | 2,341,642 |  |  |  | — |  |  |  | 2,283,631 |  |  |  | — |  |  |  | 2,283,631 |
Junior subordinated debentures |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 112 |  |  |  | — |  |  |  | 112 |  |  |  | — |  |  |  | 112 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 6,938 |  |  |  | — |  |  |  | 6,938 |  |  |  | — |  |  |  | 6,938 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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/2009/role/commonPracticeRef -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
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- 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
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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/2009/role/commonPracticeRef -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
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