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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Summary of Estimated Fair Values of Financial Instruments | The following tables present estimated fair values of the Company’s financial instruments as of the period indicated, whether or not recognized or recorded in the consolidated balance sheets at the period indicated:
| June 30, 2026 |  | Fair Value Measurements Using
| Carrying Value |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
| (dollars in thousands; unaudited)
Financial assets |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 48,088 |  |  | $ | 48,088 |  |  | $ | 48,088 |  |  | $ | — |  |  | $ | — |
Interest earning deposits with other banks | 960,360 |  |  | 960,360 |  |  | 960,360 |  |  | — |  |  | — |
Investment securities | 45,246 |  |  | 45,360 |  |  | — |  |  | 45,360 |  |  | — |
Other investments | 14,177 |  |  | 14,177 |  |  | — |  |  | 12,356 |  |  | 1,821 |
Loans held for sale | 107,838 |  |  | 107,838 |  |  | — |  |  | 107,838 |  |  |
Loans receivable | 4,208,270 |  |  | 4,197,259 |  |  | — |  |  | — |  |  | 4,197,259 |
Accrued interest receivable | 20,937 |  |  | 20,937 |  |  | — |  |  | 20,937 |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Deposits | $ | 4,861,898 |  |  | 4,836,352 |  |  | $ | — |  |  | $ | 4,836,352 |  |  | $ | — |
Subordinated debt | 44,518 |  |  | 44,274 |  |  | — |  |  | 44,274 |  |  | — |
Junior subordinated debentures | 3,594 |  |  | 3,547 |  |  | — |  |  | 3,547 |  |  | — |
Accrued interest payable | 2,178 |  |  | 2,178 |  |  | — |  |  | 2,178 |  |  | — |
| December 31, 2025 |  | Fair Value Measurements Using
| Carrying Value |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
| (dollars in thousands; unaudited)
Financial assets |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 34,241 |  |  | $ | 34,241 |  |  | $ | 34,241 |  |  | $ | — |  |  | $ | — |
Interest earning deposits with other banks | 702,729 |  |  | 702,729 |  |  | 702,729 |  |  | — |  |  | — |
Investment securities | 48,247 |  |  | 48,742 |  |  | — |  |  | 48,742 |  |  | — |
Other investments | 12,837 |  |  | 12,837 |  |  | — |  |  | 10,666 |  |  | 2,171 |
Loans held for sale | 71,216 |  |  | 71,216 |  |  | — |  |  | 71,216 |  |  |
Loans receivable, net | 3,749,531 |  |  | 3,738,084 |  |  | — |  |  | — |  |  | 3,738,084 |
Accrued interest receivable | 18,613 |  |  | 18,613 |  |  | — |  |  | 18,613 |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Deposits | $ | 4,144,199 |  |  | $ | 4,130,842 |  |  | $ | — |  |  | $ | 4,130,842 |  |  | $ | — |
Subordinated debt | 44,443 |  |  | 44,132 |  |  | — |  |  | 44,132 |  |  | — |
Junior subordinated debentures | 3,593 |  |  | 3,719 |  |  | — |  |  | 3,719 |  |  | — |
Accrued interest payable | 1,435 |  |  | 1,435 |  |  | — |  |  | 1,435 |  |  | — |
Summary of Assets Measured at Fair Value on Recurring Basis | Items measured at fair value on a recurring basis – The following fair value hierarchy table presents information about the Company’s assets that are measured at fair value on a recurring basis at the dates indicated:
| Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
| (dollars in thousands; unaudited)
June 30, 2026 |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |
U.S. Agency collateralized mortgage obligations | $ | — |  |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |
| $ | — |  |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |
December 31, 2025 |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |
U.S. Agency collateralized mortgage obligations | $ | — |  |  | $ | 29 |  |  | $ | — |  |  | $ | 29 |
| $ | — |  |  | $ | 29 |  |  | $ | — |  |  | $ | 29 |
Summary of Financial Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | Items measured at Level 3 fair value on a nonrecurring basis – The following table presents financial assets and liabilities measured at fair value on a nonrecurring basis that are classified within Level 3 of the fair value hierarchy at the dates indicated:
| Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
| (dollars in thousands; unaudited)
June 30, 2026 |  |  |  |  |  |  |
Collateral dependent loans | $ | — |  |  | $ | — |  |  | $ | 19 |  |  | $ | 19 |
Equity securities | $ | — |  |  | $ | — |  |  | $ | 1,821 |  |  | $ | 1,821 |
Total | $ | — |  |  | $ | — |  |  | $ | 1,840 |  |  | $ | 1,840 |
December 31, 2025 |  |  |  |  |  |  |
Collateral dependent loans | $ | — |  |  | $ | — |  |  | $ | 97 |  |  | $ | 97 |
Equity securities | — |  |  | — |  |  | 2,171 |  |  | 2,171 |
Total | $ | — |  |  | $ | — |  |  | $ | 2,268 |  |  | $ | 2,268 |
Summary of Carrying Value of Equity Securities Without Readily Determinable Fair Values | The following table presents the carrying value of equity securities without readily determinable fair values, as of June 30, 2026, with adjustments recorded during the periods presented for those securities with observable price changes, if applicable. These equity securities are included in other investments on the balance sheet. •The Company had a $1.8 million equity interest in a specialized bank technology company as of the quarters ended June 30, 2026 and 2025. •The Company had a $350,000 equity interest in a technology company as of the quarters ended June 30, 2026 and 2025. •The Company had a $500,000 equity interest in financial technology company as of the quarter ended June 30, 2026. This was a new equity investment for 2026. •The Company had a $42,000 and $47,000 equity interest in a technology company as of the quarters ended June 30, 2026 and 2025, respectively.
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(dollars in thousands; unaudited) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Carrying value, beginning of period |  | $ | 2,671 |  |  | $ | 2,619 |  |  | $ | 2,171 |  |  | $ | 2,619 |
Purchases |  | — |  |  | — |  |  | 500 |  |  | — |
Observable price change |  | — |  |  | (443) |  |  | — |  |  | (443) |
Carrying value, end of period |  | $ | 2,671 |  |  | $ | 2,176 |  |  | $ | 2,671 |  |  | $ | 2,176 |
Summary of Assets and Liabilities Classified as Level 3 and Measured at Fair Value on Nonrecurring Basis | The following table provides a description of the valuation technique, unobservable inputs, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a nonrecurring basis at the date indicated:
(unaudited) |  | Valuation Technique |  | Unobservable Inputs |  | June 30, 2026 Weighted Average Rate |  | December 31, 2025 Weighted Average Rate
Collateral dependent loans |  | Collateral valuations |  | Discount to appraised value |  | 8.4% |  | 8.1%

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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 assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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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