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v3.24.3

Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments | The carrying amounts and estimated fair values of the Company’s financial instruments are presented in the following table. Fair values for September 30, 2024 and December 31, 2023 were estimated using an exit price notion.
September 30, 2024 |  | Carrying Amount |  | Fair Value |  | Fair Value Measurements
Description of Asset ($ in thousands) |  |  |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 183,621 |  |  | $ | 183,621 |  |  | $ | 183,621 |  |  | $ | — |  |  | $ | — |
Investment securities - AFS |  | 133,339 |  |  | 133,339 |  |  | — |  |  | 133,339 |  |  | — |
Investment securities - HTM, net |  | 484,583 |  |  | 440,296 |  |  | — |  |  | 440,296 |  |  | — |
Equity securities |  | 5,950 |  |  | 5,950 |  |  | — |  |  | 5,950 |  |  | — |
Restricted securities |  | 20,253 |  |  | 20,253 |  |  | — |  |  | 20,253 |  |  | — |
Loans held for sale |  | 26,877 |  |  | 26,877 |  |  | — |  |  | 26,877 |  |  | — |
TBA derivatives trades |  | 46 |  |  | 46 |  |  | — |  |  | 46 |  |  | — |
Cash surrender value on life insurance |  | 103,729 |  |  | 103,729 |  |  | — |  |  | 103,729 |  |  | — |
Loans, at fair value |  | 10,023 |  |  | 10,023 |  |  | — |  |  | 10,023 |  |  | — |
Loans, net |  | 4,665,217 |  |  | 4,499,722 |  |  | — |  |  | — |  |  | 4,499,722 |
MSRs |  | 5,309 |  |  | 5,309 |  |  | — |  |  | — |  |  | 5,309 |
IRLCs |  | 219 |  |  | 219 |  |  | — |  |  | — |  |  | 219 |
Liabilities |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |
Noninterest-bearing demand |  | $ | 1,571,393 |  |  | $ | 1,571,393 |  |  | $ | — |  |  | $ | 1,571,393 |  |  | $ | — |
Checking plus interest |  | 751,533 |  |  | 751,533 |  |  | — |  |  | 751,533 |  |  | — |
Money Market |  | 1,297,237 |  |  | 1,297,237 |  |  | — |  |  | 1,297,237 |  |  | — |
Savings |  | 335,161 |  |  | 335,161 |  |  | — |  |  | 335,161 |  |  | — |
Club |  | 1,742 |  |  | 1,742 |  |  | — |  |  | 1,742 |  |  | — |
Certificates of Deposit |  | 1,268,657 |  |  | 1,270,865 |  |  | — |  |  | 1,270,865 |  |  | — |
Advances from FHLB |  | 50,000 |  |  | 50,545 |  |  | — |  |  | 50,545 |  |  | — |
Subordinated debt, net |  | 43,688 |  |  | 43,461 |  |  | — |  |  | 43,461 |  |  | — |
TRUPS, net |  | 29,768 |  |  | 28,572 |  |  | — |  |  | 28,572 |  |  | — |
TBA Securities |  | 37 |  |  | 37 |  |  | — |  |  | 37 |  |  | — |
December 31, 2023 |  | Carrying Amount |  | Fair Value |  | Fair Value Measurements
Description of Asset ($ in thousands) |  |  |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 372,413 |  |  | $ | 372,413 |  |  | $ | 372,413 |  |  | $ | — |  |  | $ | — |
Investment securities - AFS |  | 110,521 |  |  | 110,521 |  |  | — |  |  | 110,521 |  |  | — |
Investment securities - HTM |  | 513,188 |  |  | 457,830 |  |  | — |  |  | 457,830 |  |  | — |
Equity securities |  | 5,703 |  |  | 5,703 |  |  | — |  |  | 5,703 |  |  | — |
Loans held for sale |  | 8,782 |  |  | 8,782 |  |  | — |  |  | 8,782 |  |  | — |
TBA securities |  | 2 |  |  | 2 |  |  | — |  |  | 2 |  |  | — |
Cash surrender value on life insurance |  | 101,704 |  |  | 101,704 |  |  | — |  |  | 101,704 |  |  | — |
Loans, at fair value |  | 9,944 |  |  | 9,944 |  |  | — |  |  | 9,944 |  |  | — |
Loans, net |  | 4,573,715 |  |  | 4,477,468 |  |  | — |  |  | — |  |  | 4,477,468 |
MSRs |  | 5,926 |  |  | 5,926 |  |  | — |  |  | — |  |  | 5,926 |
IRLCs |  | 110 |  |  | 110 |  |  | — |  |  | — |  |  | 110 |
Liabilities |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |
Noninterest-bearing demand |  | $ | 1,258,037 |  |  | $ | 1,258,037 |  |  | $ | — |  |  | $ | 1,258,037 |  |  | $ | — |
Checking plus interest |  | 1,165,546 |  |  | 1,165,546 |  |  | — |  |  | 1,165,546 |  |  | — |
Money Market |  | 1,430,603 |  |  | 1,430,603 |  |  | — |  |  | 1,430,603 |  |  | — |
Savings |  | 347,324 |  |  | 347,324 |  |  | — |  |  | 347,324 |  |  | — |
Certificates of Deposit |  | 1,184,610 |  |  | 1,184,447 |  |  | — |  |  | 1,184,447 |  |  | — |
Subordinated debt, net |  | 43,139 |  |  | 42,579 |  |  | — |  |  | 42,579 |  |  | — |
TRUPS, net |  | 29,530 |  |  | 28,266 |  |  | — |  |  | 28,266 |  |  | — |
TBA Securities |  | 176 |  |  | 176 |  |  | — |  |  | 176 |  |  | — |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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