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Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Loans, Net of Unamortized Net Deferred Fees
The table below presents HFI Loans, net of unamortized net deferred fees, summarized by portfolio segment.
As of
June 30, 2025December 31, 2024
(dollars in thousands)Amount%Amount%
Commercial$1,207,512 15 %$1,183,341 15 %
PPP loans164 — %287 — %
Income producing - commercial real estate3,768,884 48 %4,064,846 51 %
Owner occupied - commercial real estate1,365,901 18 %1,269,669 16 %
Real estate mortgage - residential45,921 1 %50,535 1 %
Construction - commercial and residential1,211,728 16 %1,210,763 15 %
Construction - C&I (owner occupied)69,554 1 %103,259 1 %
Home equity49,224 1 %51,130 1 %
Other consumer2,776 — %1,058 — %
Total loans7,721,664 100 %7,934,888 100 %
Less: allowance for credit losses(183,796)(114,390)
Net loans (1)
$7,537,868 $7,820,498 
(1)Excludes accrued interest receivable of $37.8 million and $42.9 million as of June 30, 2025 and December 31, 2024, respectively, which were recorded in other assets on the Consolidated Balance Sheets.
Schedule of Detail Activity in the Allowance for Credit Losses by Portfolio Segment
The table below details activity in the ACL by portfolio segment. PPP loans are excluded from these tables since they do not carry an allowance for credit loss, as these loans are fully guaranteed as to principal and interest by the SBA, whose guarantee is backed by the full faith and credit of the U.S. Government. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
(dollars in thousands)CommercialIncome 
Producing - Commercial Real Estate		Owner 
Occupied - Commercial Real Estate		Real Estate Mortgage - ResidentialConstruction -Commercial and ResidentialConstruction - C&I (Owner Occupied)Home EquityOther ConsumerTotal
For the Three Months Ended June 30, 2025
Allowance for credit losses:
Balance at beginning of year$20,662 $61,937 $26,872 $670 $16,891 $1,680 $724 $33 $129,469 
Loans charged-off(698)(68,025)(4,935)— (10,703)— — (31)(84,392)
Recoveries of loans previously charged-off162 329 23 — — — — — 514 
Net loans (charged-off) and recovered(536)(67,696)(4,912)— (10,703)— — (31)(83,878)
Provision for (reversal of) credit losses8,829 99,965 5,222 144 19,801 3,889 308 47 138,205 
Ending balance$28,955 $94,206 $27,182 $814 $25,989 $5,569 $1,032 $49 $183,796 
For the Three Months Ended June 30, 2024
Allowance for credit losses:
Balance at beginning of year$23,682 $45,937 $13,537 $893 $13,058 $1,929 $618 $30 $99,684 
Loans charged-off(2,091)(386)— — — — — (69)(2,546)
Recoveries of loans previously charged-off50 185 24 — — — — — 259 
Net loans (charged-off) and recovered(2,041)(201)24 — — — — (69)(2,287)
Provision for (reversal of) credit losses(630)7,515 2,080 (143)452 (498)59 69 8,904 
Ending balance$21,011 $53,251 $15,641 $750 $13,510 $1,431 $677 $30 $106,301 
For the Six Months Ended June 30, 2025
Allowance for credit losses:                
Balance at beginning of year$19,390 $55,185 $22,654 $610 $14,585 $1,282 $653 $31 $114,390 
Loans charged-off(968)(74,195)(9,797)— (10,703)— — (35)(95,698)
Recoveries of loans previously charged-off215 329 47 — — — — — 591 
Net loans (charged-off) and recovered(753)(73,866)(9,750)— (10,703)— — (35)(95,107)
Provision for (reversal of) credit losses10,318 112,887 14,278 204 22,107 4,287 379 53 164,513 
Ending balance$28,955 $94,206 $27,182 $814 $25,989 $5,569 $1,032 $49 $183,796 
For the Six Months Ended June 30, 2024
Allowance for credit losses:
Balance at beginning of year$17,824 $40,050 $14,333 $861 $10,198 $1,992 $657 $25 $85,940 
Loans charged-off(2,587)(21,329)— — (129)— — (70)(24,115)
Recoveries of loans previously charged-off166 185 47 — — — — — 398 
Net loans (charged-off) and recovered(2,421)(21,144)47 — (129)— — (70)(23,717)
Provision for (reversal of) credit losses5,608 34,345 1,261 (111)3,441 (561)20 75 44,078 
Ending balance$21,011 $53,251 $15,641 $750 $13,510 $1,431 $677 $30 $106,301 
Schedule of Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans
The table below presents the amortized cost basis of collateral-dependent HFI loans by portfolio segment.
As of
June 30, 2025December 31, 2024
(dollars in thousands)Business/Other AssetsReal EstateBusiness/Other AssetsReal Estate
Commercial$1,608 $2,526 $1,214 $1,125 
Income-producing-commercial real estate880 178,716 880 167,574 
Owner occupied - commercial real estate— 17,525 — 37,746 
Real estate mortgage- residential— 5,736 — — 
Construction - commercial and residential— 19,488 — — 
Home equity— 507 — 303 
Total$2,488 $224,498 $2,094 $206,748 
Schedule of the Risk Category of Loans by Class of Loans The table below presents the amortized cost basis of HFI loans by risk category, class and year of origination, along with any charge-offs that were recorded in the applicable loan segment, if applicable.
(dollars in thousands)Prior2021202220232024
2025
Revolving Loans Amort. Cost BasisRevolving Loans Convert. to TermTotal
As of June 30, 2025
Commercial:
Pass$143,121 $32,967 $43,524 $64,821 $102,890 $188,723 $530,157 $629 $1,106,832 
Special Mention9,772 379 16,611 996 — — 20,116 — 47,874 
Substandard23,932 1,932 11,028 356 — — 12,257 3,301 52,806 
Total176,825 35,278 71,163 66,173 102,890 188,723 562,530 3,930 1,207,512 
YTD gross charge-offs(379)(218)— — — — (250)— (847)
PPP loans:
Pass— 164 — — — — — — 164 
Income producing - commercial real estate:
Pass1,316,661 609,238 545,366 297,074 86,003 128,851 166,584 699 3,150,476 
Special Mention48,786 34,956 28,406 — — — — — 112,148 
Substandard377,483 51,815 76,712 — — — 250 — 506,260 
Total1,742,930 696,009 650,484 297,074 86,003 128,851 166,834 699 3,768,884 
YTD gross charge-offs(40,985)— — — — — (10,500)— (51,485)
Owner occupied - commercial real estate:
Pass608,681 133,056 36,543 106,009 122,315 78,517 178,345 — 1,263,466 
Special Mention9,693 — — — — — — 9,693 
Substandard88,010 3,183 1,083 466 — — — — 92,742 
Total706,384 136,239 37,626 106,475 122,315 78,517 178,345 — 1,365,901 
YTD gross charge-offs(9,797)— — — — — — — (9,797)
Real estate mortgage - residential:
Pass15,800 6,460 12,074 5,851 — — — — 40,185 
Substandard5,736 — — — — — — — 5,736 
Total21,536 6,460 12,074 5,851 — — — — 45,921 
Construction - commercial and residential:
Pass45,105 140,501 599,196 238,460 10,763 1,284 127,775 997 1,164,081 
Special Mention
— 3,596 — — — — — — 3,596 
Substandard31,379 12,688 (16)— — — — — 44,051 
Total76,484 156,785 599,180 238,460 10,763 1,284 127,775 997 1,211,728 
YTD gross charge-offs(10,703)— — — — — — — (10,703)
Construction - C&I (owner occupied):
Pass34,196 79,778 (139,725)38,060 34,785 8,969 812 12,679 69,554 
Home equity
Pass1,707 35 114 — — — 46,099 736 48,691 
Substandard53 212 220 — — — 48 — 533 
Total1,760 247 334 — — — 46,147 736 49,224 
Other consumer
Pass— — — — 10 649 2,117 — 2,776 
YTD gross charge-offs(3)— — — — — — (32)(35)
Total Recorded Investment$2,760,115 $1,110,960 $1,231,136 $752,093 $356,766 $406,993 $1,084,560 $19,041 $7,721,664 
Total YTD gross charge-offs$(61,867)$(218)$— $— $— $— $(10,750)$(32)$(72,867)
(dollars in thousands)Prior2020202120222023
2024
Revolving Loans Amort. Cost BasisRevolving Loans Convert. to TermTotal
As of December 31, 2024
Commercial:
Pass$132,595 $26,775 $133,400 $110,439 $89,608 $104,927 $513,645 $4,394 $1,115,783 
Special Mention7,828 3,479 — — — — 18,384 — 29,691 
Substandard11,404 3,713 2,128 519 — — 12,223 7,880 37,867 
Total151,827 33,967 135,528 110,958 89,608 104,927 544,252 12,274 1,183,341 
YTD gross charge-offs(4,350)— — — — — (506)(50)(4,906)
PPP loans:
Pass— — 287 — — — — — 287 
Income producing - commercial real estate:
Pass1,442,246 176,268 626,527 680,822 276,731 151,535 216,363 29,243 3,599,735 
Special Mention74,251 91,643 — 20,600 — — — — 186,494 
Substandard266,309 1,808 — — — — 10,500 — 278,617 
Total1,782,806 269,719 626,527 701,422 276,731 151,535 226,863 29,243 4,064,846 
YTD gross charge-offs(29,898)(386)— — — — — — (30,284)
Owner occupied - commercial real estate:
Pass622,258 57,611 219,162 39,221 138,860 69,623 299 — 1,147,034 
Special Mention23,658 — — — — — — — 23,658 
Substandard96,634 1,248 — 1,095 — — — — 98,977 
Total742,550 58,859 219,162 40,316 138,860 69,623 299 — 1,269,669 
YTD gross charge-offs(3,800)— — — — — — — (3,800)
Real estate mortgage - residential:
Pass20,080 2,435 9,972 12,181 5,867 — — — 50,535 
Total20,080 2,435 9,972 12,181 5,867 — — — 50,535 
Construction - commercial and residential:
Pass26,739 38,385 199,933 595,496 202,577 7,588 124,508 — 1,195,226 
Special Mention— — 4,964 — — — — — 4,964 
Substandard5,683 — 4,890 — — — — — 10,573 
Total32,422 38,385 209,787 595,496 202,577 7,588 124,508 — 1,210,763 
     YTD gross charge-offs(129)— — — — — — — (129)
Construction - C&I (owner occupied):
Pass6,063 24,632 — 36,544 8,458 26,730 832 — 103,259 
Home equity:
Pass1,366 71 35 116 — — 48,443 765 50,796 
Substandard59 — 222 — — — 53 — 334 
Total1,425 71 257 116 — — 48,496 765 51,130 
Other consumer:
Pass3 — — — — 49 1,006 — 1,058 
YTD gross charge-offs(70)— — — — — (17)(1)(88)
Total Recorded Investment$2,737,176 $428,068 $1,201,520 $1,497,033 $722,101 $360,452 $946,256 $42,282 $7,934,888 
Total YTD gross charge-offs$(38,247)$(386)$— $— $— $— $(523)$(51)$(39,207)
Schedule of Information Related to Nonaccrual Loans by Class
The table below presents, by portfolio segment, information related to the amortized cost basis of nonaccrual HFI loans.
As of
June 30, 2025
December 31, 2024
(dollars in thousands)Nonaccrual with No Allowance for Credit LossNonaccrual with an Allowance for Credit LossesTotal Nonaccrual LoansNonaccrual with No Allowance for Credit LossNonaccrual with an Allowance for Credit LossesTotal Nonaccrual Loans
Commercial$2,990 $446 $3,436 $1,439 $609 $2,048 
Income producing - commercial real estate109,174 70,423 179,597 47,224 121,230 168,454 
Owner occupied - commercial real estate3,322 14,201 17,523 642 37,102 37,744 
Real estate mortgage - residential5,735 134 5,869 — 157 157 
Construction- commercial and residential4,851 14,637 19,488 — — — 
Home equity507 — 507 303 — 303 
Total (1)
$126,579 $99,841 $226,420 $49,608 $159,098 $208,706 
(1)Gross coupon interest income of $10.2 million, and $2.9 million would have been recorded for the six months ended June 30, 2025 and 2024 respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while interest actually recorded on such loans were $6.7 million, and none for the six months ended June 30, 2025 and 2024, respectively. See "Note 1 – Summary of Significant Accounting Policies" to the Consolidated Financial Statements for a description of the Company’s policy for placing loans on nonaccrual status.
Schedule by Class of Loan, an Aging Analysis and the Recorded Investments in Loans Past Due
The table below presents, by portfolio segment, an aging analysis and the recorded investments in HFI loans past due.
(dollars in thousands)Loans 30-59 Days Past DueLoans 60-89 Days Past DueLoans 90 Days or More Past DueTotal Past Due LoansCurrent LoansNonaccrual LoansTotal Recorded Investment in Loans
As of June 30, 2025
Commercial$258 $2,808 $— $3,066 $1,201,010 $3,436 $1,207,512 
PPP loans— — — — 164 — 164 
Income producing - commercial real estate28,058 1,069 — 29,127 3,560,160 179,597 3,768,884 
Owner occupied - commercial real estate2,058 375 — 2,433 1,345,945 17,523 1,365,901 
Real estate mortgage – residential— — — — 40,052 5,869 45,921 
Construction - commercial and residential— — — — 1,192,240 19,488 1,211,728 
Construction - C&I (owner occupied)— — — — 69,554 — 69,554 
Home equity51 — — 51 48,666 507 49,224 
Other consumer— — — — 2,776 — 2,776 
Total$30,425 $4,252 $— $34,677 $7,460,567 $226,420 $7,721,664 
As of December 31, 2024
Commercial$5,121 $3,759 $— $8,880 $1,172,413 $2,048 $1,183,341 
PPP loans— — — — 287 — 287 
Income producing - commercial real estate13,804 — — 13,804 3,882,588 168,454 4,064,846 
Owner occupied - commercial real estate2,968 — — 2,968 1,228,957 37,744 1,269,669 
Real estate mortgage – residential— — — — 50,378 157 50,535 
Construction - commercial and residential— 1,031 — 1,031 1,209,732 — 1,210,763 
Construction - C&I (owner occupied)— — — — 103,259 — 103,259 
Home equity52 — — 52 50,775 303 51,130 
Other consumer28 — — 28 1,030 — 1,058 
Total$21,973 $4,790 $— $26,763 $7,699,419 $208,706 $7,934,888 
Schedule of Loans Modified in Troubled Debt Restructurings
The table below presents the amortized cost basis and the financial effect of HFI loans modified for borrowers experiencing financial difficulty.
(dollars in thousands)Term ExtensionCombination - Term Extension and Principal Payment Delay
Combination - Principal Payment Delay and Interest Rate Reduction
Combination - Term Extension, Principal Payment Delay and Interest Rate ReductionTotalPercentage of Total Loan Type
Weighted Average Term and Principal Payment Extension (1)
Weighted Average Interest Rate Reduction (2)
For the Three Months Ended June 30, 2025
Commercial$13,554 $10,490 $— $— $24,044 2.0 %13 months— %
Income producing - commercial real estate4,070 103,593 — — 107,663 2.9 %25 months— %
Owner occupied - commercial real estate12,711— — — 12,711 0.9 %4 months— %
Real estate mortgage - residential— 5,736 — — 5,736 12.5 %6 months— %
Construction - commercial and residential1,90011,161 — — 13,061 1.1 %8 months— %
Total$32,235$130,980 $— $— $163,215 
For the Three Months Ended June 30, 2024
Commercial$36,303$— $7,896 $— $44,199 3.6 %6 months1.63 %
Income producing - commercial real estate083,368 — 3,510 86,878 2.9 %4 months3.59 %
Owner occupied - commercial real estate876— — — 876 0.1 %12 months— %
Construction - commercial and residential011,012— — 11,012 1.0 %9 months— %
Total$37,179$94,380 $7,896 $3,510 $142,965 
For the Six Months Ended June 30, 2025
Commercial$16,855 $10,490 $— $— $27,345 2.3 %20 months— %
Income producing - commercial real estate4,070 137,203 — — 141,273 3.7 %23 months— %
Owner occupied - commercial real estate12,711 — — — 12,711 0.9 %4 months— %
Real estate mortgage - residential— 5,736 — — 5,736 12.5 %6 months— %
Construction - commercial and residential1,900 11,161 — — 13,061 1.1 %8 months— %
Total$35,536 $164,590 $— $— $200,126 
For the Six Months Ended June 30, 2024
Commercial$36,303 $— $7,896 $— $44,199 3.6 %8 months1.63 %
Income producing - commercial real estate— 119,252 — 3,510 122,762 2.9 %4 months3.59 %
Owner occupied - commercial real estate876 — — — 876 0.1 %12 months— %
Construction - commercial and residential— 11,012 — — 11,012 1.0 %9 months— %
Total$37,179 $130,264 $7,896 $3,510 $178,849 
(1)For loans that received multiple modifications during the year, weighted average term and principal payment extensions were calculated based on the aggregate impact of the extensions received during the period.
(2)The weighted average is calculated based on the total amortized cost of loans, at the year-end, that received interest rate reduction modifications during the year.
The table below presents the performance of HFI loans modified during the prior twelve months for borrowers experiencing financial difficulty.
June 30, 2025
Payment Status (Amortized Cost Basis)
(dollars in thousands)Current30-89 Days Past Due90 Days or More Past DueNonaccrual
Commercial$43,093 $— $— $518 
Income producing - commercial real estate120,646 5,656 — 63,413 
Owner occupied - commercial real estate12,711 — — — 
Real estate mortgage - residential— 5,736 
Construction - commercial and residential18,083 — — 9,831 
Construction - C&I (owner occupied)— — — — 
Total$194,533 $5,656 $— $79,498 
June 30, 2024
Payment Status (Amortized Cost Basis)
(dollars in thousands)Current30-89 Days Past Due90 Days or More Past DueNonaccrual
Commercial$48,981 $3,447 $— $— 
Income producing - commercial real estate120,954 — — 47,234 
Owner occupied - commercial real estate876 — — 19,130 
Construction - commercial and residential11,012 — — — 
Total$181,823 $3,447 $— $66,364 
Schedule of Amortized Cost Basis of Loan Had a Payment Default
The table below presents the amortized cost basis of HFI loans that were experiencing payment default and were modified in the twelve months prior to that default for borrowers experiencing financial difficulty.
June 30, 2025
Amortized Cost Basis
(dollars in thousands)Term ExtensionCombination - Term Extension and Principal Payment DelayCombination - Term Extension, Principal Payment Delay and Interest Rate Reduction
Commercial$— $518 $— 
Income producing - commercial real estate— 69,069 — 
Real estate mortgages - residential— 5,736 — 
Construction - commercial and residential— 9,831 — 
Total$— $85,154 $— 
June 30, 2024
Amortized Cost Basis
(dollars in thousands)Term ExtensionCombination - Term Extension and Principal Payment DelayCombination - Term Extension, Principal Payment Delay and Interest Rate Reduction
Commercial$3,447 $— $— 
Income producing - commercial real estate— 47,234 — 
Owner occupied - commercial real estate— 19,130 — 
Total$3,447 $66,364 $—