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Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 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
September 30, 2025December 31, 2024
(dollars in thousands)Amount%Amount%
Commercial$1,217,805 17 %$1,183,341 15 %
PPP loans103 — %287 — %
Income producing - commercial real estate3,453,033 47 %4,064,846 51 %
Owner occupied - commercial real estate1,494,711 20 %1,269,669 16 %
Real estate mortgage - residential44,684 1 %50,535 1 %
Construction - commercial and residential1,010,367 14 %1,210,763 15 %
Construction - C&I (owner occupied)33,378 — %103,259 1 %
Home equity49,333 1 %51,130 1 %
Other consumer1,265 — %1,058 — %
Total loans7,304,679 100 %7,934,888 100 %
Less: allowance for credit losses(156,228)(114,390)
Net loans (1)
$7,148,451 $7,820,498 
(1)Excludes accrued interest receivable of $36.9 million and $42.9 million as of September 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 September 30, 2025
Allowance for credit losses:
Balance at beginning of quarter
$16,171 $135,211 $14,634 $382 $13,756 $3,101 $510 $32 $183,797 
Loans charged-off(529)(123,388)(10,000)— (7,134)— — — (141,051)
Recoveries of loans previously charged-off221 — 16 — — — — — 237 
Net loans (charged-off) and recovered(308)(123,388)(9,984)— (7,134)— — — (140,814)
Provision for (reversal of) credit losses8,379 83,572 15,499 (25)7,361 (1,540)5 (6)113,245 
Ending balance$24,242 $95,395 $20,149 $357 $13,983 $1,561 $515 $26 $156,228 
For the Three Months Ended September 30, 2024
Allowance for credit losses:
Balance at beginning of quarter
$21,011 $53,251 $15,641 $750 $13,510 $1,431 $677 $30 $106,301 
Loans charged-off(1,563)— (3,800)— — — — (17)(5,380)
Recoveries of loans previously charged-off53 — 24 — — — — — 77 
Net loans (charged-off) and recovered(1,510)— (3,776)— — — — (17)(5,303)
Provision for (reversal of) credit losses802 61 8,206 (12)1,907 (134)23 16 10,869 
Ending balance$20,303 $53,312 $20,071 $738 $15,417 $1,297 $700 $29 $111,867 
For the Nine Months Ended September 30, 2025
Allowance for credit losses:              
Balance at beginning of period
$16,293 $65,375 $19,295 $472 $11,333 $1,079 $515 $28 $114,390 
Loans charged-off(1,497)(197,582)(19,797)— (17,837)— — (35)(236,748)
Recoveries of loans previously charged-off436 329 63 — — — — — 828 
Net loans (charged-off) and recovered(1,061)(197,253)(19,734)— (17,837)— — (35)(235,920)
Provision for (reversal of) credit losses9,010 227,273 20,588 (115)20,487 482 — 33 277,758 
Ending balance$24,242 $95,395 $20,149 $357 $13,983 $1,561 $515 $26 $156,228 
For the Nine Months Ended September 30, 2024
Allowance for credit losses:
Balance at beginning of period
$17,824 $40,050 $14,333 $861 $10,198 $1,992 $657 $25 $85,940 
Loans charged-off(4,150)(21,329)(3,800)— (129)— — (88)(29,496)
Recoveries of loans previously charged-off220 185 71 — — — — — 476 
Net loans (charged-off) and recovered(3,930)(21,144)(3,729)— (129)— — (88)(29,020)
Provision for (reversal of) credit losses6,409 34,406 9,467 (123)5,348 (695)43 92 54,947 
Ending balance$20,303 $53,312 $20,071 $738 $15,417 $1,297 $700 $29 $111,867 
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
September 30, 2025December 31, 2024
(dollars in thousands)Business/Other AssetsReal EstateBusiness/Other AssetsReal Estate
Commercial$15,137 $2,823 $1,214 $1,125 
Income-producing-commercial real estate880 56,466 880 167,574 
Owner occupied - commercial real estate— 14,647 — 37,746 
Real estate mortgage- residential— 6,141 — — 
Construction - commercial and residential— 22,475 — — 
Home equity— 499 — 303 
Total$16,017 $103,051 $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. The table below excludes $170.3 million of gross charge-offs associated with loans that were reclassified to HFS or sold during the nine months ended September 30, 2025, of which $124.1 million was related to HFS loans on our balance sheet as of September 30, 2025.
As of September 30, 2025
(dollars in thousands)Prior2021202220232024
2025
Revolving Loans Amort. Cost BasisRevolving Loans Convert. to TermTotal
Commercial:
Pass$98,504 $20,177 $40,374 $70,251 $94,408 $266,338 $515,191 $2,881 $1,108,124 
Special Mention9,125 344 10,085 996 5,080 — 27,568 — 53,198 
Substandard23,126 480 18,516 333 57 — 11,249 2,722 56,483 
Total130,755 21,001 68,975 71,580 99,545 266,338 554,008 5,603 1,217,805 
YTD gross charge-offs(881)(316)— — — — (279)— (1,476)
PPP loans:
Pass— 103 — — — — — — 103 
Income producing - commercial real estate:
Pass1,148,730 426,263 525,101 313,757 80,355 131,581 151,029 13,418 2,790,234 
Special Mention95,808 120,777 76,721 — 7,095 — — — 300,401 
Substandard231,711 57,039 73,398 — — — 250 — 362,398 
Total1,476,249 604,079 675,220 313,757 87,450 131,581 151,279 13,418 3,453,033 
YTD gross charge-offs(44,473)— — — — — — — (44,473)
Owner occupied - commercial real estate:
Pass670,749 211,343 36,098 146,464 126,386 120,571 98,369 — 1,409,980 
Special Mention9,451 — — — — — — — 9,451 
Substandard70,584 3,160 1,077 459 — — — — 75,280 
Total750,784 214,503 37,175 146,923 126,386 120,571 98,369 — 1,494,711 
YTD gross charge-offs(19,797)— — — — — — (19,797)
Real estate mortgage - residential:
Pass14,244 6,435 12,019 5,845 — — — — 38,543 
Substandard6,141 — — — — — — — 6,141 
Total20,385 6,435 12,019 5,845 — — — — 44,684 
Construction - commercial and residential:
Pass39,742 112,801 418,039 215,777 9,239 3,754 107,010 9,409 915,771 
Special Mention— 35,654 24,981 — — — — — 60,635 
Substandard10,498 7,912 15,551 — — — — — 33,961 
Total50,240 156,367 458,571 215,777 9,239 3,754 107,010 9,409 1,010,367 
YTD gross charge-offs(702)— — — — — — — (702)
Construction - C&I (owner occupied):
Pass3,775 — — 9,792 — (382)800 19,393 33,378 
Home equity
Pass1,679 35 114 — — — 46,371 608 48,807 
Substandard53 207 220 — — — 46 — 526 
Total1,732 242 334 — — — 46,417 608 49,333 
Other consumer
Pass— — — — 6 177 1,082 — 1,265 
YTD gross charge-offs(3)— — — — — — (32)(35)
Total Recorded Investment$2,433,920 $1,002,730 $1,252,294 $763,674 $322,626 $522,039 $958,965 $48,431 $7,304,679 
Total YTD gross charge-offs$(65,856)$(316)$— $— $— $— $(279)$(32)$(66,483)
The Company individually evaluates nonaccrual loans when performing its CECL estimate to calculate the ACL. Additionally, the Company utilizes historical internal and third-party service provider sourced loss data in the determination of its PD/LGD rates applied in the calculation of its CECL estimate. Upon determination that a modified loan (or a portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the ACL is adjusted by the same amount.
As of December 31, 2024
(dollars in thousands)Prior2020202120222023
2024
Revolving Loans Amort. Cost BasisRevolving Loans Convert. to TermTotal
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
September 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$3,057 $14,482 $17,539 $1,439 $609 $2,048 
Income producing - commercial real estate32,547 24,799 57,346 47,224 121,230 168,454 
Owner occupied - commercial real estate4,099 10,548 14,647 642 37,102 37,744 
Real estate mortgage - residential6,141 — 6,141 — 157 157 
Construction- commercial and residential2,311 20,164 22,475 — — — 
Home equity499 — 499 303 — 303 
Other consumer— — — — — — 
Total (1)
$48,654 $69,993 $118,647 $49,608 $159,098 $208,706 
(1)Gross coupon interest income of $19.0 million, and $5.9 million would have been recorded for the nine months ended September 30, 2025 and 2024 respectively, if nonaccrual loans shown above had been current and in accordance with their original terms. Interest income recognized on loans on nonaccrual status was immaterial and zero for the nine months ended September 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 of 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.
As of September 30, 2025
(dollars in thousands)Loans 30-59 Days Past DueLoans 60-89 Days Past DueLoans 90 Days or More Past 
Due		Total Past Due LoansCurrent LoansNonaccrual LoansTotal Recorded Investment in Loans
Commercial$7,731 $611 $— $8,342 $1,191,924 $17,539 $1,217,805 
PPP loans— — — — 103 — 103 
Income producing - commercial real estate241 5,257 — 5,498 3,390,189 57,346 3,453,033 
Owner occupied - commercial real estate13,581 — — 13,581 1,466,483 14,647 1,494,711 
Real estate mortgage – residential— — — — 38,543 6,141 44,684 
Construction - commercial and residential— 1,440 — 1,440 986,452 22,475 1,010,367 
Construction - C&I (owner occupied)— — — — 33,378 — 33,378 
Home equity214 70 — 284 48,550 499 49,333 
Other consumer— — — — 1,265 — 1,265 
Total$21,767 $7,378 $— $29,145 $7,156,887 $118,647 $7,304,679 
As of December 31, 2024
(dollars in thousands)Loans 30-59 Days Past DueLoans 60-89 Days Past DueLoans 90 Days or More Past 
Due		Total Past Due LoansCurrent LoansNonaccrual LoansTotal Recorded Investment in Loans
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 DelayCombination - Principal Payment Delay and Interest Rate ReductionCombination - 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 September 30, 2025
Commercial$8,529 $— $— $— $8,529 0.7 %6 months— %
Income producing - commercial real estate1,814 40,815 — — 42,629 1.2 %5 months— %
Construction - commercial and residential1,821 — — — 1,821 0.2 %9 months— %
Total$12,164 $40,815 $— $— $52,979 
For the Three Months Ended September 30, 2024
Commercial$11,328$28,776 $— $— $40,104 3.5 %10 months— %
Income producing - commercial real estate27,53569,023 — — 96,558 2.3 %12 months— %
Total$38,863$97,799 $— $— $136,662 
For the Nine Months Ended September 30, 2025
Commercial$19,835 $9,867 $— $— $29,702 2.4 %17 months— %
Income producing - commercial real estate5,886 131,897 — — 137,783 4.0 %22 months— %
Owner occupied - commercial real estate12,674 — — — 12,674 0.8 %4 months— %
Real estate mortgage - residential— 5,736 — — 5,736 12.8 %6 months— %
Construction - commercial and residential1,821 11,486 — — 13,307 1.3 %22 months— %
Total$40,216 $158,986 $— $— $199,202 
For the Nine Months Ended September 30, 2024
Commercial$27,325 $28,776 $7,831 $— $63,932 5.5 %13 months1.63 %
Income producing - commercial real estate27,535 171,851 — 3,513 202,899 4.9 %10 months3.59 %
Owner occupied - commercial real estate874 — — — 874 0.1 %12 months— %
Construction - commercial and residential— 11,030 — — 11,030 0.9 %9 months— %
Total$55,734 $211,657 $7,831 $3,513 $278,735 
(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.
Payment Status (Amortized Cost Basis)
(dollars in thousands)Current30-89 Days Past Due90 Days or More Past DueNonaccrual
September 30, 2025
Commercial$32,161 $— $— $4,982 
Income producing - commercial real estate109,661 2,819 — 27,202 
Owner occupied - commercial real estate12,674 — — — 
Real estate mortgage - residential— 5,736 
Construction - commercial and residential16,509 — — 6,418 
Total$171,005 $2,819 $— $44,338 
September 30, 2024
Commercial$60,611 $3,321 $— $— 
Income producing - commercial real estate158,916 12,371 — 57,558 
Owner occupied - commercial real estate874 — — — 
Construction - commercial and residential11,030 — — — 
Total$231,431 $15,692 $— $57,558 
Schedule of Amortized Cost Basis of Loan for 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.
Amortized Cost Basis
(dollars in thousands)Term ExtensionCombination - Term Extension and Principal Payment Delay
September 30, 2025
Commercial$4,546 $436 
Income producing - commercial real estate— 30,021 
Real estate mortgages - residential— 5,736 
Construction - commercial and residential1,821 4,597 
Total$6,367 $40,790 
September 30, 2024
Commercial$3,321 $— 
Income producing - commercial real estate— 69,929 
Total$3,321 $69,929