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Fair Value Information (Tables)

3 Months Ended

Mar. 31, 2025

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 as of the dates presented.

		Carrying Value at March 31, 2025				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		$	34,803			$	—			$	34,803			$	—
Mortgage-backed securities			2,124,656				—				2,124,656				—
CMO/REMIC			353,862				—				353,862				—
Municipal bonds			20,319				—				20,319				—
Other securities			1,426				—				1,426				—
Total investment securities - AFS			2,535,066				—				2,535,066				—
Derivatives not designated as hedging   instruments:
Interest rate swaps			78				—				78				—
Derivatives designated as hedging instruments:
Fair value hedges: interest rate swaps			—				—				—				—
Cash flow hedges: interest rate swaps			—				—				—				—
Total assets		$	2,535,144			$	—			$	2,535,144			$	—
Description of liability
Derivatives not designated as hedging   instruments:
Interest rate swaps		$	78			$	—			$	78			$	—
Derivatives designated as hedging instruments:
Fair value hedges: interest rate swaps			1,095				—				1,095				—
Cash flow hedges: interest rate swaps			2,257				—				2,257				—
Total liabilities		$	3,430			$	—			$	3,430			$	—

		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			$	—

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.

		Carrying Value at March 31, 2025				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 Three Months Ended March 31, 2025
		(Dollars in thousands)
Description of assets
Loans:
Commercial real estate		$	32,575			$	—			$	—			$	32,575			$	8
Construction			—				—				—				—				—
SBA			1,079				—				—				1,079				19
SBA - PPP			—				—				—				—				—
Commercial and industrial			2,901				—				—				2,901				6
Dairy & livestock and    agribusiness			1,085				—				—				1,085				1
Municipal lease finance    receivables			—				—				—				—				—
SFR mortgage			—				—				—				—				—
Consumer and other loans			—				—				—				—				—
Other real estate owned			495				—				—				495				—
Total assets		$	38,135			$	—			$	—			$	38,135			$	34

		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

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.

	March 31, 2025
	Carrying				Estimated Fair Value
	Amount				Level 1				Level 2				Level 3				Total
	(Dollars in thousands)
Assets
Total cash and cash equivalents	$	529,089			$	529,089			$	—			$	—			$	529,089
Interest-earning balances due from    depository institutions		3,451				—				3,451				—				3,451
Investment securities available-for-sale		2,535,066				—				2,535,066				—				2,535,066
Investment securities held-to-maturity		2,359,141				—				1,965,088				—				1,965,088
Total loans, net of allowance for credit losses		8,285,380				—				—				8,009,031				8,009,031
Derivatives not designated as hedging instruments:
Interest rate swaps		78				—				78				—				78
Derivatives designated as hedging instruments:
Fair value hedges: interest rate swaps		—				—				—				—				—
Cash flow hedges: interest rate swaps		—				—				—				—				—
Liabilities
Deposits:
Interest-bearing	$	4,805,654			$	—			$	4,802,342			$	—			$	4,802,342
Borrowings		776,163				—				746,328				—				746,328
Derivatives not designated as hedging instruments:
Interest rate swaps		78				—				78				—				78
Derivatives designated as hedging instruments:
Fair value hedges: interest rate swaps		1,095				—				1,095				—				1,095
Cash flow hedges: interest rate swaps		2,257				—				2,257				—				2,257

	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
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

X

- 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

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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

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X

- 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

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