Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2025

Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments

The following tables present the carrying amounts and estimated fair values of the Company’s financial instruments as of September 30, 2025 and December 31, 2024. Fair values for September 30, 2025 and December 31, 2024 were estimated using an exit price notion.


September 30, 2025	Carrying Amount		Fair Value		Fair Value Measurements
($ in thousands)					Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	416,513	$	416,513	$	416,513	$	—	$	—
Available for sale securities	181,720		181,720		—		181,720		—
Held to maturity securities	433,440		393,540		—		393,540		—
Equity securities	6,113		6,113		—		6,113		—
Restricted securities	20,364		N/A		—		N/A		—
Loans held for sale	21,500		21,500		—		21,500		—
TBA securities	38		38		—		38		—

Loans held for investment, at amortized cost, net	4,823,415		4,731,552		—		—		4,731,552
Mortgage servicing rights	5,293		5,293		—		5,293		—
Accrued interest receivable	20,408		20,408		—		20,408		—
IRLCs	216		216		—		—		216

Liabilities
Deposits:
Noninterest-bearing	$	1,594,212	$	1,594,212	$	—	$	1,594,212	$	—
Interest-bearing checking	851,963		851,963		—		851,963		—
Money market and savings	1,790,001		1,790,001		—		1,790,001		—
Time deposits	1,281,132		1,279,762		—		1,279,762		—
Brokered deposits	10,857		10,863		—		10,863		—
FHLB advances	50,000		50,024		—		50,024		—
TRUPS	30,085		28,499		—		28,499		—
Subordinated debt	44,409		44,535		—		44,535		—
TBA Securities	47		47		—		47		—
Accrued interest payable	3,403		3,403		—		3,403		—
IRLCs	1		1		—		—		1


December 31, 2024	Carrying Amount		Fair Value		Fair Value Measurements
($ in thousands)					Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	459,851	$	459,851	$	459,851	$	—	$	—
Available for sale securities	149,212		149,212		—		149,212		—
Held to maturity securities	481,077		424,734		—		424,734		—
Equity securities	5,814		5,814		—		5,814		—
Restricted securities	20,253		20,253		—		20,253		—
Loans held for sale	19,606		19,606		—		19,606		—
TBA securities	164		164		—		164		—

Loans held for investment, at amortized cost, net	4,714,078		4,561,449		—		—		4,561,449
Mortgage servicing rights	5,874		5,874		—		5,874		—
Accrued interest receivable	19,570		19,570		—		19,570		—
IRLCs	113		113		—		—		113

Liabilities
Deposits:
Noninterest-bearing	$	1,562,815	$	1,562,815	$	—	$	1,562,815	$	—
Interest bearing checking	978,076		978,076		—		978,076		—
Money market and savings	1,805,884		1,805,884		—		1,805,884		—
Time deposits	1,181,561		1,179,716		—		1,179,716		—

FHLB advances	50,000		50,201		—		50,201		—
TRUPS	29,847		27,952		—		27,952		—
Subordinated debt	43,870		43,669		—		43,669		—
TBA securities	23		23		—		23		—
Accrued interest payable	3,398		3,398		—		3,398		—