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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense (benefit) for the years ended December 31, 2025, 2024, and 2023 are as follows:

($ in thousands)									2025						2024						2023
Current			- Federal						$	(2,615)					$	23,134					$	24,750
			- State						439						3,637						3,857
Deferred			- Federal						29,235						(4,569)						(481)
			- State						1,393						(300)						(301)
Total									$	28,452					$	21,902					$	27,825

Schedule of Effective Tax Rate Reconciliation

The following is a reconciliation of federal income tax expense at the statutory rate of 21% at December 31, 2025 to the income tax provision reported in the financial statements.

($ in thousands)						2025
						Amount						Percent
Tax provision at statutory rate						$	29,295					21.00		%
State and local income taxes, net of federal income tax effect (1)						1,444						1.04		%
Non-taxable / non-deductible items						(2,032)						(1.46)		%
Tax credits (2)						(828)						(0.59)		%
Other adjustments						573						0.41		%
Total provision for income taxes and effective tax rate						$	28,452					20.40		%

(1) - State taxes in North Carolina made up the majority (greater than 50 percent) of this category.

(2) - Net of proportional amortization of qualifying affordable housing investments.

($ in thousands)						2024						2023
Tax provision at statutory rate						$	20,605					$	27,711
Increase (decrease) in income taxes resulting from:
Tax-exempt interest income, net						(1,937)						(1,934)
State income taxes, net of federal benefit						2,928						2,809
Other, net						306						(761)
Total						$	21,902					$	27,825

Schedule of Income Taxes Paid

The following table presents income taxes paid (net of refunds received) for the year ended December 31, 2025.

($ in thousands)						2025
US Federal						$	9,000
North Carolina						1,070
Other US State and Local						950
Total						$	11,020

Schedule of Deferred Tax Assets and Liabilities

The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets, which are included in Other assets on the consolidated balance sheets are as follows at December 31, 2025 and 2024:

($ in thousands)						2025						2024
Deferred tax assets:
Net operating loss carryforwards						$	134,335					$	—
Unrealized losses on securities available for sale						44,764						85,940
Allowance for credit losses on loans and unfunded commitments						—						30,257
Operating lease liability						3,211						3,342
Purchase accounting adjustments						1,254						3,358
All other						7,086						8,077
Gross deferred tax assets						190,650						130,974
Deferred tax liabilities:
Security valuation						(58,352)						—
Loan valuation						(72,232)						—
Amortizable basis of intangible assets						(13,427)						(14,442)
Depreciable basis of fixed assets						(5,777)						(4,647)
Right of use lease asset						(3,015)						(3,161)
Loan fees						(2,485)						(2,483)
All other						(882)						(578)
Gross deferred tax liabilities						(156,170)						(25,311)
Net deferred tax asset						$	34,480					$	105,663

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