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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Estimated Fair Value of AFS and HTM Securities | The following tables summarize the Company's investment in AFS and HTM securities by major security type:
(dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Estimated Fair Value
December 31, 2024 |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |  |  |
U.S. treasury bonds |  | $ | 24,988 |  |  | $ | — |  |  | $ | (212) |  |  | $ | — |  |  | $ | 24,776 |
U.S. agency securities |  | 600,277 |  |  | — |  |  | (41,742) |  |  | — |  |  | 558,535 |
Residential mortgage-backed securities |  | 719,815 |  |  | 36 |  |  | (94,535) |  |  | — |  |  | 625,316 |
Commercial mortgage-backed securities |  | 53,248 |  |  | — |  |  | (4,303) |  |  | — |  |  | 48,945 |
Municipal bonds |  | 8,607 |  |  | — |  |  | (593) |  |  | — |  |  | 8,014 |
Corporate bonds |  | 2,000 |  |  | — |  |  | (160) |  |  | (22) |  |  | 1,818 |
Total available-for-sale securities |  | $ | 1,408,935 |  |  | $ | 36 |  |  | $ | (141,545) |  |  | $ | (22) |  |  | $ | 1,267,404 |
(dollars in thousands) |  | Amortized Cost |  | Gross Unrecognized Gains |  | Gross Unrecognized Losses |  |  |  | Estimated Fair Value
December 31, 2024 |  |  |  |  |  |  |  |  |  |
Investment securities held-to-maturity: |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | $ | 605,904 |  |  | $ | — |  |  | $ | (85,941) |  |  |  |  | $ | 519,963 |
Commercial mortgage-backed securities |  | 88,575 |  |  | — |  |  | (13,069) |  |  |  |  | 75,506 |
Municipal bonds |  | 114,060 |  |  | — |  |  | (11,389) |  |  |  |  | 102,671 |
Corporate bonds |  | 131,414 |  |  | — |  |  | (9,172) |  |  |  |  | 122,242 |
Total |  | 939,953 |  |  | $ | — |  |  | $ | (119,571) |  |  |  |  | $ | 820,382 |
Less: allowance for credit losses |  | (1,306) |  |  |  |  |  |  |  |  |
Total held-to-maturity securities, net of ACL |  | $ | 938,647 |  |  |  |  |  |  |  |  |
(dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Estimated Fair Value
December 31, 2023 |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |  |  |
U.S. treasury bonds |  | $ | 49,894 |  |  | $ | — |  |  | $ | (1,993) |  |  | $ | — |  |  | $ | 47,901 |
U.S. agency securities |  | 729,090 |  |  | — |  |  | (57,693) |  |  | — |  |  | 671,397
Residential mortgage-backed securities |  | 823,992 |  |  | 45 |  |  | (96,684) |  |  | — |  |  | 727,353
Commercial mortgage-backed securities |  | 54,557 |  |  | — |  |  | (4,993) |  |  | — |  |  | 49,564
Municipal bonds |  | 8,783 |  |  | — |  |  | (293) |  |  | — |  |  | 8,490
Corporate bonds |  | 2,000 |  |  | — |  |  | (300) |  |  | (17) |  |  | 1,683
Total available-for-sale securities |  | $ | 1,668,316 |  |  | $ | 45 |  |  | $ | (161,956) |  |  | $ | (17) |  |  | $ | 1,506,388 |
(dollars in thousands) |  | Amortized Cost |  | Gross Unrecognized Gains |  | Gross Unrecognized Losses |  |  |  | Estimated Fair Value
December 31, 2023 |  |  |  |  |  |  |  |  |  |
Investment securities held-to-maturity: |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | $ | 670,043 |  |  | $ | — |  |  | $ | (79,980) |  |  |  |  | $ | 590,063 |
Commercial mortgage-backed securities |  | 90,227 |  |  | — |  |  | (12,867) |  |  |  |  | 77,360 |
Municipal bonds |  | 125,114 |  |  | 5 |  |  | (8,540) |  |  |  |  | 116,579 |
Corporate bonds |  | 132,309 |  |  | — |  |  | (14,729) |  |  |  |  | 117,580 |
Total |  | 1,017,693 |  |  | $ | 5 |  |  | $ | (116,116) |  |  |  |  | $ | 901,582 |
Less: allowance for credit losses |  | (1,956) |  |  |  |  |  |  |  |  |
Total held-to-maturity securities, net of ACL |  | $ | 1,015,737 |  |  |  |  |  |  |  |  |
Schedule of Unrealized Losses and Fair Value by Length of Time | The following tables summarize, by length of time, the Company's AFS securities that have been in a continuous unrealized loss position and HTM securities that have been in a continuous unrecognized loss position:
|  |  |  | Less than 12 Months |  | 12 Months or Greater |  | Total
(dollars in thousands) |  | Number of Securities |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury bonds |  | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,776 |  |  | $ | (212) |  |  | $ | 24,776 |  |  | $ | (212) |
U.S. agency securities |  | 71 |  |  | 2,300 |  |  | (8) |  |  | 556,235 |  |  | (41,734) |  |  | 558,535 |  |  | (41,742) |
Residential mortgage-backed securities |  | 148 |  |  | 7,530 |  |  | (128) |  |  | 616,392 |  |  | (94,407) |  |  | 623,922 |  |  | (94,535) |
Commercial mortgage-backed securities |  | 13 |  |  | — |  |  | — |  |  | 48,945 |  |  | (4,303) |  |  | 48,945 |  |  | (4,303) |
Municipal bonds |  | 1 |  |  | — |  |  | — |  |  | 8,014 |  |  | (593) |  |  | 8,014 |  |  | (593) |
Corporate bonds |  | 1 |  |  | — |  |  | — |  |  | 1,818 |  |  | (160) |  |  | 1,818 |  |  | (160) |
Total |  | 235 |  | $ | 9,830 |  |  | $ | (136) |  |  | $ | 1,256,180 |  |  | $ | (141,409) |  |  | $ | 1,266,010 |  |  | $ | (141,545) |
|  |  |  | Less than 12 Months |  | 12 Months or Greater |  | Total
(dollars in thousands) |  | Number of Securities |  | Estimated Fair Value |  | Unrecognized Losses |  | Estimated Fair Value |  | Unrecognized Losses |  | Estimated Fair Value |  | Unrecognized Losses
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | 140 |  |  | $ | — |  |  | $ | — |  |  | $ | 519,963 |  |  | $ | (85,941) |  |  | $ | 519,963 |  |  | $ | (85,941) |
Commercial mortgage-backed securities |  | 16 |  |  | — |  |  | — |  |  | 75,506 |  |  | (13,069) |  |  | 75,506 |  |  | (13,069) |
Municipal bonds |  | 36 |  |  | 4,026 |  |  | (75) |  |  | 98,645 |  |  | (11,314) |  |  | 102,671 |  |  | (11,389) |
Corporate bonds |  | 30 |  |  | 1,928 |  |  | (77) |  |  | 110,280 |  |  | (9,095) |  |  | 112,208 |  |  | (9,172) |
Total |  | 222 |  | $ | 5,954 |  |  | $ | (152) |  |  | $ | 804,394 |  |  | $ | (119,419) |  |  | $ | 810,348 |  |  | $ | (119,571) |
|  |  |  | Less than 12 Months |  | 12 Months or Greater |  | Total
(dollars in thousands) |  | Number of Securities |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury bonds |  | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 47,901 |  |  | $ | (1,993) |  |  | $ | 47,901 |  |  | $ | (1,993) |
U.S. agency securities |  | 78 |  |  | 3,084 |  |  | (4) |  |  | 668,313 |  |  | (57,689) |  |  | 671,397 |  |  | (57,693) |
Residential mortgage-backed securities |  | 149 |  |  | — |  |  | — |  |  | 718,042 |  |  | (96,684) |  |  | 718,042 |  |  | (96,684) |
Commercial mortgage-backed securities |  | 13 |  |  | — |  |  | — |  |  | 49,564 |  |  | (4,993) |  |  | 49,564 |  |  | (4,993) |
Municipal bonds |  | 1 |  |  | — |  |  | — |  |  | 8,490 |  |  | (293) |  |  | 8,490 |  |  | (293) |
Corporate bonds |  | 1 |  |  | — |  |  | — |  |  | 1,683 |  |  | (300) |  |  | 1,683 |  |  | (300) |
Total |  | 244 |  | $ | 3,084 |  |  | $ | (4) |  |  | $ | 1,493,993 |  |  | $ | (161,952) |  |  | $ | 1,497,077 |  |  | $ | (161,956) |
|  |  |  | Less than 12 Months |  | 12 Months or Greater |  | Total
(dollars in thousands) |  | Number of Securities |  | Estimated Fair Value |  | Unrecognized Losses |  | Estimated Fair Value |  | Unrecognized Losses |  | Estimated Fair Value |  | Unrecognized Losses
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | 142 |  |  | $ | — |  |  | $ | — |  |  | $ | 590,063 |  |  | $ | (79,980) |  |  | $ | 590,063 |  |  | $ | (79,980) |
Commercial mortgage-backed securities |  | 16 |  |  | — |  |  | — |  |  | 77,360 |  |  | (12,867) |  |  | 77,360 |  |  | (12,867) |
Municipal bonds |  | 40 |  |  | — |  |  | — |  |  | 113,031 |  |  | (8,540) |  |  | 113,031 |  |  | (8,540) |
Corporate bonds |  | 30 |  |  | — |  |  | — |  |  | 105,523 |  |  | (14,729) |  |  | 105,523 |  |  | (14,729) |
Total |  | 228 |  | $ | — |  |  | $ | — |  |  | $ | 885,977 |  |  | $ | (116,116) |  |  | $ | 885,977 |  |  | $ | (116,116) |
Schedule of Amortized Cost and Estimated Fair Value of Investments AFS by Contractual Maturity | The following table summarizes the Company's investment in AFS securities and HTM securities by contractual maturity. Expected maturities for MBS will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | December 31, 2024
(dollars in thousands) |  | Amortized Cost |  | Estimated Fair Value
Investment securities available-for-sale: |  |  |  |
Within one year |  | $ | 188,499 |  |  | $ | 184,939 |
One to five years |  | 359,242 |  |  | 331,649 |
Five to ten years |  | 68,580 |  |  | 59,826 |
Beyond ten years |  | 19,551 |  |  | 16,751 |
Residential mortgage-backed securities |  | 719,815 |  |  | 625,316 |
Commercial mortgage-backed securities |  | 53,248 |  |  | 48,945 |
Less: allowance for credit losses |  | — |  |  | (22) |
Total investment securities available-for-sale |  | 1,408,935 |  |  | 1,267,404 |
Investment securities held-to-maturity: |  |  |  |
Within one year |  | 6,946 |  |  | 6,900 |
One to five years |  | 64,060 |  |  | 61,728 |
Five to ten years |  | 105,977 |  |  | 96,087 |
Beyond ten years |  | 68,491 |  |  | 60,198 |
Residential mortgage-backed securities: |  | 605,904 |  |  | 519,963 |
Commercial mortgage-backed securities |  | 88,575 |  |  | 75,506 |
Less: allowance for credit losses |  | (1,306) |  |  | — |
Total investment securities held-to-maturity |  | 938,647 |  |  | 820,382 |
Total |  | $ | 2,347,582 |  |  | $ | 2,087,786 |

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