XML 81 R25.htm IDEA: XBRL DOCUMENT
v3.25.3

Investment Securities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investment in AFS and HTM Securities | The table below summarizes the Company's investment in AFS securities by major security type.
|  | As of September 30, 2025
(dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Estimated Fair Value
U.S. agency securities |  | $ | 432,607 |  |  | $ | — |  |  | $ | (20,394) |  |  | $ | — |  |  | $ | 412,213 |
Residential mortgage-backed securities |  | 644,193 |  |  | 108 |  |  | (64,701) |  |  | — |  |  | 579,600 |
Commercial mortgage-backed securities |  | 74,372 |  |  | 129 |  |  | (2,783) |  |  | — |  |  | 71,718 |
Municipal bonds |  | 8,472 |  |  | — |  |  | (532) |  |  | — |  |  | 7,940 |
Corporate bonds |  | 2,000 |  |  | — |  |  | (59) |  |  | — |  |  | 1,941 |
Total available-for-sale securities |  | $ | 1,161,644 |  |  | $ | 237 |  |  | $ | (88,469) |  |  | $ | — |  |  | $ | 1,073,412 |
|  | As of December 31, 2024
(dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Estimated Fair Value
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 |
The table below summarizes the Company's investment in HTM securities by major security type.
|  | As of September 30, 2025
(dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Residential mortgage-backed securities |  | $ | 558,842 |  |  | $ | — |  |  | $ | (62,442) |  |  | $ | 496,400 |
Commercial mortgage-backed securities |  | 86,359 |  |  | — |  |  | (10,414) |  |  | 75,945 |
Municipal bonds |  | 106,936 |  |  | — |  |  | (8,109) |  |  | 98,827 |
Corporate bonds |  | 121,480 |  |  | 25 |  |  | (6,015) |  |  | 115,490 |
Total |  | 873,617 |  |  | $ | 25 |  |  | $ | (86,980) |  |  | $ | 786,662 |
Less: Allowance for credit losses |  | (1,199) |  |  |  |  |  |  |
Total held-to-maturity securities, net of ACL |  | $ | 872,418 |  |  |  |  |  |  |
|  | As of December 31, 2024
(dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
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 |  |  |  |  |  |  |
Schedule of Continuous Unrealized Loss on AFS and HTM Securities | The table below summarizes, 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.
|  | As of September 30, 2025
|  |  |  | 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
Investment securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency securities |  | 58 |  |  | $ | — |  |  | $ | — |  |  | $ | 412,213 |  |  | $ | (20,394) |  |  | $ | 412,213 |  |  | $ | (20,394) |
Residential mortgage-backed securities |  | 142 |  |  | — |  |  | — |  |  | 569,707 |  |  | (64,701) |  |  | 569,707 |  |  | (64,701) |
Commercial mortgage-backed securities |  | 12 |  |  | — |  |  | — |  |  | 43,430 |  |  | (2,783) |  |  | 43,430 |  |  | (2,783) |
Municipal bonds |  | 1 |  |  | — |  |  | — |  |  | 7,940 |  |  | (532) |  |  | 7,940 |  |  | (532) |
Corporate bonds |  | 1 |  |  | — |  |  | — |  |  | 1,941 |  |  | (59) |  |  | 1,941 |  |  | (59) |
Total |  | 214 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,035,231 |  |  | $ | (88,469) |  |  | $ | 1,035,231 |  |  | $ | (88,469) |
Investment securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | 136 |  |  | $ | — |  |  | $ | — |  |  | $ | 496,400 |  |  | $ | (62,442) |  |  | $ | 496,400 |  |  | $ | (62,442) |
Commercial mortgage-backed securities |  | 16 |  |  | 4,266 |  |  | (520) |  |  | 71,679 |  |  | (9,894) |  |  | 75,945 |  |  | (10,414) |
Municipal bonds |  | 33 |  |  | — |  |  | — |  |  | 97,827 |  |  | (8,109) |  |  | 97,827 |  |  | (8,109) |
Corporate bonds |  | 27 |  |  | 1,950 |  |  | (54) |  |  | 105,718 |  |  | (5,961) |  |  | 107,668 |  |  | (6,015) |
Total |  | 212 |  |  | $ | 6,216 |  |  | $ | (574) |  |  | $ | 771,624 |  |  | $ | (86,406) |  |  | $ | 777,840 |  |  | $ | (86,980) |
|  | As of December 31, 2024
|  |  |  | 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
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) |
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) |
Schedule of Investment in AFS Securities and HTM Securities by Contractual Maturity | The table below summarizes the Company's investment in AFS securities and HTM securities by contractual maturity. Expected maturities for mortgage-backed securities ("MBS") will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | As of September 30, 2025
(dollars in thousands) |  | Amortized Cost |  | Estimated Fair Value
Investment securities available-for-sale: |  |  |  |
Within one year |  | $ | 122,508 |  |  | $ | 121,617 |
One to five years |  | 237,049 |  |  | 224,915 |
Five to ten years |  | 64,715 |  |  | 59,124 |
Beyond ten years |  | 18,807 |  |  | 16,438 |
Residential mortgage-backed securities |  | 644,193 |  |  | 579,600 |
Commercial mortgage-backed securities |  | 74,372 |  |  | 71,718 |
Less: allowance for credit losses |  | — |  |  | — |
Total investment securities available-for-sale |  | 1,161,644 |  |  | 1,073,412 |
Investment securities held-to-maturity: |  |  |  |
Within one year |  | — |  |  | — |
One to five years |  | 77,630 |  |  | 75,376 |
Five to ten years |  | 99,613 |  |  | 92,629 |
Beyond ten years |  | 51,173 |  |  | 46,312 |
Residential mortgage-backed securities: |  | 558,842 |  |  | 496,400 |
Commercial mortgage-backed securities |  | 86,359 |  |  | 75,945 |
Less: allowance for credit losses |  | (1,199) |  |  | — |
Total investment securities held-to-maturity |  | 872,418 |  |  | 786,662 |
Total |  | $ | 2,034,062 |  |  | $ | 1,860,074 |
Schedule of Information About the Sales and Calls of Investment Securities | The table below displays information about the sales and calls of our investment securities.
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
(dollars in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Proceeds from sales and calls |  | $ | 84,157 |  |  | $ | 4,542 |  |  | $ | 197,117 |  |  | $ | 31,644 |  |  |
Gross realized gains from sales and calls |  | 3 |  |  | 3 |  |  | 12 |  |  | 10 |  |  |
Gross realized losses from sales and calls |  | 1,985 |  |  | — |  |  | 3,844 |  |  | — |  |  |

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration