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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Financial Instruments Measured at Fair Value on a Recurring and Nonrecurring Basis | The following table summarizes the Company’s financial instruments that were measured at fair value on a recurring and nonrecurring basis at December 31, 2024.
Description of Financial Instruments ($ in thousands) |  | Fair 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)
Recurring |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |
US Treasury securities |  | $ | 120,581 |  |  | $ | — |  |  | $ | 120,581 |  |  | $ | — |
Government-sponsored enterprise securities |  | 9,614 |  |  | — |  |  | 9,614 |  |  | — |
Mortgage-backed securities |  | 1,897,175 |  |  | — |  |  | 1,896,469 |  |  | 706 |
Corporate bonds |  | 15,692 |  |  | — |  |  | 13,942 |  |  | 1,750 |
Total available for sale securities |  | $ | 2,043,062 |  |  | $ | — |  |  | $ | 2,040,606 |  |  | $ | 2,456 |
Derivative financial assets |  | $ | 301 |  |  | $ | — |  |  | $ | 301 |  |  | $ | — |
Presold mortgages in process of settlement |  | $ | 5,942 |  |  | $ | — |  |  | $ | 5,942 |  |  | $ | — |
Derivative financial liabilities |  | $ | 302 |  |  | $ | — |  |  | $ | 302 |  |  | $ | — |
Nonrecurring |  |  |  |  |  |  |  |
Individually evaluated loans |  | $ | 879 |  |  | $ | — |  |  | $ | — |  |  | $ | 879 |
The following table summarizes the Company’s financial instruments that were measured at fair value on a recurring and nonrecurring basis at December 31, 2023.
Description of Financial Instruments ($ in thousands) |  | Fair 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)
Recurring |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |
US Treasury securities |  | $ | 172,570 |  |  | $ | — |  |  | $ | 172,570 |  |  | $ | — |
Government-sponsored enterprise securities |  | 60,266 |  |  | — |  |  | 60,266 |  |  | — |
Mortgage-backed securities |  | 1,937,784 |  |  | — |  |  | 1,937,784 |  |  | — |
Corporate bonds |  | 18,759 |  |  | — |  |  | 18,759 |  |  | — |
Total available for sale securities |  | $ | 2,189,379 |  |  | $ | — |  |  | $ | 2,189,379 |  |  | $ | — |
Derivative financial assets |  | $ | 295 |  |  | $ | — |  |  | $ | 295 |  |  | $ | — |
Presold Mortgages in process of settlement |  | $ | 2,667 |  |  | $ | — |  |  | $ | 2,667 |  |  | $ | — |
Derivative financial liabilities |  | $ | 349 |  |  | $ | — |  |  | $ | 349 |  |  | $ | — |
Nonrecurring |  |  |  |  |  |  |  |
Individually evaluated loans |  | $ | 1,953 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,953 |
Schedule of the Carrying Amounts and Estimated Fair Values of Financial Instruments | The carrying amounts and estimated fair values of financial instruments not carried at fair value as of December 31, 2024 and 2023 are as follows:
|  |  |  | December 31, 2024 |  | December 31, 2023
($ in thousands) |  | Level in Fair Value Hierarchy |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Cash and due from banks, noninterest-bearing |  | Level 1 |  | $ | 78,596 |  |  | $ | 78,596 |  |  | $ | 100,891 |  |  | $ | 100,891 |
Due from banks, interest-bearing |  | Level 1 |  | 428,911 |  |  | 428,911 |  |  | 136,964 |  |  | 136,964 |
Securities held to maturity |  | Level 2 |  | 519,998 |  |  | 428,571 |  |  | 533,678 |  |  | 449,623 |
Total loans, net of allowance |  | Level 3 |  | 7,972,104 |  |  | 7,514,505 |  |  | 8,040,249 |  |  | 7,379,079 |
SBA servicing asset |  | Level 3 |  | 2,604 |  |  | 3,746 |  |  | 3,351 |  |  | 4,049 |
Demand deposits, money market and savings |  | Level 1 |  | 9,593,557 |  |  | 9,593,557 |  |  | 9,052,905 |  |  | 9,052,905 |
Time deposits |  | Level 2 |  | 936,968 |  |  | 933,523 |  |  | 978,694 |  |  | 972,513 |
Borrowings |  | Level 2 |  | 91,876 |  |  | 81,216 |  |  | 630,158 |  |  | 615,614 |

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + 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 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
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