v3.25.3

SECURITIES | 9 Months Ended
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Sep. 30, 2025
SECURITIES |
SECURITIES | NOTE 3: SECURITIES The following table provides a summary of the Company’s securities AFS portfolio as of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Gross Unrealized | ​ | Allowance for | ​ | Estimated
(dollars in thousands) | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Credit Losses | ​ | Fair Value
September 30, 2025: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | 510,862 | ​ | $ | 110 | ​ | $ | (1,317) | ​ | $ | — | ​ | $ | 509,655
Agency mortgage-backed securities | ​ | ​ | 865,015 | ​ | ​ | 7,140 | ​ | ​ | (204) | ​ | ​ | — | ​ | ​ | 871,951
Municipal bonds | ​ | ​ | 47,218 | ​ | ​ | 1 | ​ | ​ | (1,317) | ​ | ​ | — | ​ | ​ | 45,902
SBA securities | ​ | ​ | 7,381 | ​ | ​ | 2 | ​ | ​ | (83) | ​ | ​ | — | ​ | ​ | 7,300
Beneficial interests in FHLMC securitization | ​ |  | 673 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (68) | ​ |  | 605
Corporate bonds | ​ |  | 124,728 | ​ | ​ | 10 | ​ | ​ | (5,445) | ​ | ​ | (566) | ​ |  | 118,727
U.S. Treasury | ​ |  | 999 | ​ | ​ | 8 | ​ | ​ | (8) | ​ | ​ | — | ​ |  | 999
Total | ​ | $ | 1,556,876 | ​ | $ | 7,271 | ​ | $ | (8,374) | ​ | $ | (634) | ​ | $ | 1,555,139
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | 11,121 | ​ | $ | — | ​ | $ | (1,279) | ​ | $ | — | ​ | $ | 9,842
Agency mortgage-backed securities | ​ | ​ | 1,126,861 | ​ | ​ | 2,308 | ​ | ​ | (7,543) | ​ | ​ | — | ​ | ​ | 1,121,626
Municipal bonds | ​ | ​ | 48,921 | ​ | ​ | — | ​ | ​ | (3,386) | ​ | ​ | — | ​ | ​ | 45,535
SBA securities | ​ | ​ | 9,236 | ​ | ​ | 2 | ​ | ​ | (93) | ​ | ​ | — | ​ | ​ | 9,145
Beneficial interests in FHLMC securitization | ​ |  | 4,619 | ​ |  | — | ​ |  | — | ​ |  | (3,377) | ​ |  | 1,242
Corporate bonds | ​ |  | 133,767 | ​ |  | — | ​ |  | (7,193) | ​ |  | (757) | ​ |  | 125,817
U.S. Treasury | ​ |  | 700 | ​ |  | — | ​ |  | (22) | ​ |  | — | ​ |  | 678
Total | ​ | $ | 1,335,225 | ​ | $ | 2,310 | ​ | $ | (19,516) | ​ | $ | (4,134) | ​ | $ | 1,313,885
​ The following table provides a summary of the Company’s securities HTM portfolio as of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Gross Unrecognized | ​ | Allowance for | ​ | Estimated
(dollars in thousands) | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Credit Losses | ​ | Fair Value
September 30, 2025: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agency mortgage-backed securities | ​ | $ | 647,619 | ​ | $ | — | ​ | $ | (50,325) | ​ | $ | — | ​ | $ | 597,294
Total | ​ | $ | 647,619 | ​ | $ | — | ​ | $ | (50,325) | ​ | $ | — | ​ | $ | 597,294
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agency mortgage-backed securities | ​ | $ | 712,105 | ​ | $ | — | ​ | $ | (75,265) | ​ | $ | — | ​ | $ | 636,840
Total | ​ | $ | 712,105 | ​ | $ | — | ​ | $ | (75,265) | ​ | $ | — | ​ | $ | 636,840
​ As of September 30, 2025, the tables above include $384.8 million in agency mortgage-backed securities pledged as collateral to the state of Florida to meet regulatory requirements; $1.9 million in U.S. Treasury and agency mortgage-backed securities pledged as collateral to various states to meet regulatory requirements related to the Bank’s trust operations; $262.9 million of agency mortgage-backed securities pledged as collateral as support for the Bank’s obligations under loan sales and securitization agreements entered into from 2018 and 2021; and $72.5 million in securities consisting of SBA securities, collateralized mortgage obligations, and agency mortgage-backed securities pledged as collateral for repurchase agreements obtained from a prior bank acquisition. A total of $818 million in SBA and agency mortgage-backed securities, collateralized mortgage obligations, corporate and municipal bonds are pledged as collateral to the Federal Reserve Bank’s discount window from which the Bank may borrow. ​ As of December 31, 2024, the tables above include $325.7 million in agency mortgage-backed securities pledged as collateral to the state of Florida to meet regulatory requirements; $1.3 million in U.S. Treasury securities pledged as collateral to various states to meet regulatory requirements related to the Bank’s trust operations; $256.5 million of agency mortgage-backed securities pledged as collateral as support for the Bank’s obligations under loan sales and securitization agreements entered into from 2018 and 2021; and $77.3 million in securities consisting of SBA securities, collateralized mortgage obligations, and agency mortgage-backed securities pledged as collateral for repurchase agreements obtained from a prior bank acquisition. A total of $916.8 million in SBA and agency mortgage-backed securities, collateralized mortgage obligations, and corporate and municipal bonds are pledged as collateral to the Federal Reserve Bank’s discount window from which the Bank may borrow. We monitor the credit quality of these securities by evaluating various quantitative attributes. The credit quality indicators the Company monitors include, but are not limited to, credit ratings of individual securities and the credit rating of United States government-sponsored enterprises that guarantee the securities. Credit ratings express opinions about the credit quality of a security. Securities rated investment grade, as defined by nationally recognized statistical rating organizations (“NRSROs”), are generally considered by the rating agencies and market participants to be low credit risk. As of September 30, 2025, all of the Company’s securities were either investment grade or were issued by a U.S. government agency or government-sponsored enterprise (“GSE”) with an investment grade rating, with the exception of two corporate bonds having a combined market value of $32.6 million and one agency commercial mortgage-backed security with a marked value of $673 thousand which were below investment grade. The tables below indicate the gross unrealized losses and fair values of our securities AFS portfolio, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Securities with Unrealized Loss at September 30, 2025
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | Total
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
(dollars in thousands) |  | Value |  | Loss |  | Value |  | Loss |  | Value |  | Loss
Collateralized mortgage obligations | ​ | $ | 354,507 | ​ | $ | (304) | ​ | $ | 6,597 | ​ | $ | (1,013) | ​ | $ | 361,104 | ​ | $ | (1,317)
Agency mortgage-backed securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,639 | ​ | ​ | (204) | ​ | ​ | 3,639 | ​ | ​ | (204)
Municipal bonds | ​ | ​ | 1,374 | ​ | ​ | (7) | ​ | ​ | 32,217 | ​ | ​ | (1,310) | ​ | ​ | 33,591 | ​ | ​ | (1,317)
SBA securities | ​ | ​ | 632 | ​ | ​ | (2) | ​ | ​ | 6,176 | ​ | ​ | (81) | ​ | ​ | 6,808 | ​ | ​ | (83)
Corporate bonds | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 97,783 | ​ | ​ | (5,445) | ​ | ​ | 97,783 | ​ | ​ | (5,445)
U.S. Treasury | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 492 | ​ | ​ | (8) | ​ | ​ | 492 | ​ | ​ | (8)
Total | ​ | $ | 356,513 | ​ | $ | (313) | ​ | $ | 146,904 | ​ | $ | (8,061) | ​ | $ | 503,417 | ​ | $ | (8,374)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Securities with Unrealized Loss at December 31, 2024
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | Total
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
(dollars in thousands) |  | Value |  | Loss |  | Value |  | Loss |  | Value |  | Loss
Collateralized mortgage obligations |  | $ | 2,874 |  | $ | (51) |  | $ | 6,968 |  | $ | (1,228) |  | $ | 9,842 |  | $ | (1,279)
Agency mortgage-backed securities | ​ | ​ | 719,329 | ​ | ​ | (7,218) | ​ | ​ | 4,280 | ​ | ​ | (325) | ​ | ​ | 723,609 | ​ | ​ | (7,543)
Municipal bonds | ​ | ​ | 2,129 | ​ | ​ | (101) | ​ | ​ | 43,405 | ​ | ​ | (3,285) | ​ | ​ | 45,534 | ​ | ​ | (3,386)
SBA securities | ​ | ​ | 614 | ​ | ​ | (1) | ​ | ​ | 7,739 | ​ | ​ | (92) | ​ | ​ | 8,353 | ​ | ​ | (93)
Corporate bonds | ​ | ​ | 14,242 | ​ | ​ | (758) | ​ | ​ | 112,333 | ​ | ​ | (6,435) | ​ | ​ | 126,575 | ​ | ​ | (7,193)
U.S. Treasury |  | ​ | — | ​ |  | — | ​ |  | 678 | ​ |  | (22) | ​ |  | 678 | ​ |  | (22)
Total | ​ | $ | 739,188 | ​ | $ | (8,129) | ​ | $ | 175,403 | ​ | $ | (11,387) | ​ | $ | 914,591 | ​ | $ | (19,516)
​ ​ Unrealized losses in the securities AFS portfolio have not been recognized into income because the securities are either of high credit quality, management does not intend to sell, it is not more likely than not that management would be required to sell the securities prior to their anticipated recovery, or the decline in fair value is largely due to changes in discount rates and assumptions regarding future interest rates. The fair value is expected to recover as the bonds approach maturity. The tables below indicate the gross unrecognized losses and fair value of our securities HTM portfolio, aggregated by investment category and length of time that the individual securities have been in a continuous unrecognized loss position. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Securities with Unrecognized Loss at September 30, 2025
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | Total
​ | ​ | Fair | ​ | Unrecognized | ​ | Fair | ​ | Unrecognized | ​ | Fair | ​ | Unrecognized
(dollars in thousands) |  | Value |  | Loss |  | Value |  | Loss |  | Value |  | Loss
Agency mortgage-backed securities | ​ | $ | — | ​ | $ | — | ​ | $ | 597,294 | ​ | $ | (50,325) | ​ | $ | 597,294 | ​ | $ | (50,325)
Total | ​ | $ | — | ​ | $ | — | ​ | $ | 597,294 | ​ | $ | (50,325) | ​ | $ | 597,294 | ​ | $ | (50,325)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Securities with Unrecognized Loss at December 31, 2024
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | Total
​ | ​ | Fair | ​ | Unrecognized | ​ | Fair | ​ | Unrecognized | ​ | Fair | ​ | Unrecognized
(dollars in thousands) |  | Value |  | Loss |  | Value |  | Loss |  | Value |  | Loss
Agency mortgage-backed securities | ​ | $ | 15,440 | ​ | $ | (61) | ​ | $ | 621,400 | ​ | $ | (75,204) | ​ | $ | 636,840 | ​ | $ | (75,265)
Total | ​ | $ | 15,440 | ​ | $ | (61) | ​ | $ | 621,400 | ​ | $ | (75,204) | ​ | $ | 636,840 | ​ | $ | (75,265)
​ During the nine-month period ended September 30, 2025, $663 million par value of securities available-for-sale were sold, resulting in a gain on sale of securities available-for-sale of $5.9 million. During the nine-month period ended September 30, 2024, $747.8 million par value of securities available-for-sale were sold, resulting in gross realized gains of $1.4 million and gross realized losses of $0.2 million. ​ The following is a rollforward of the Company’s allowance for credit losses related to investments for the following periods: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | Beginning |  | ​ | Provision (Reversal) |  | ​ | ​ |  | ​ | ​ |  | ​ | Ending
(dollars in thousands) | ​ | ​ | Balance | ​ | ​ | for Credit Losses | ​ | ​ | Charge-offs | ​ | ​ | Recoveries | ​ | ​ | Balance
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended September 30, 2025: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beneficial interests in FHLMC securitization | ​ | $ | — | ​ | $ | 68 | ​ | $ | — | ​ | $ | — | ​ | $ | 68
Corporate bonds | ​ | ​ | 651 | ​ | ​ | (85) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 566
Total |  | $ | 651 |  | $ | (17) |  | $ | — |  | $ | — |  | $ | 634
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended September 30, 2025: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beneficial interests in FHLMC securitization | ​ | $ | 3,377 | ​ | $ | 52 | ​ | $ | (3,361) | ​ | $ | — | ​ | $ | 68
Corporate bonds | ​ | ​ | 757 | ​ | ​ | (191) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 566
Total |  | $ | 4,134 |  | $ | (139) |  | $ | (3,361) |  | $ | — |  | $ | 634
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended September 30, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beneficial interests in FHLMC securitization | ​ | $ | 6,502 | ​ | $ | (24) | ​ | $ | — | ​ | $ | — | ​ | $ | 6,478
Corporate bonds | ​ | ​ | 840 | ​ | ​ | (19) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 821
Total | ​ | $ | 7,342 | ​ | $ | (43) | ​ | $ | — | ​ | $ | — | ​ | $ | 7,299
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended September 30, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beneficial interests in FHLMC securitization | ​ | $ | 6,818 | ​ | $ | (340) | ​ | $ | — | ​ | $ | — | ​ | $ | 6,478
Corporate bonds | ​ | ​ | 1,402 | ​ | ​ | (581) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 821
Total |  | $ | 8,220 |  | $ | (921) |  | $ | — |  | $ | — |  | $ | 7,299
​ During the nine-month periods ending September 30, 2025 and September 30, 2024, the Company recorded a provision (reversal) for credit losses of ($139) thousand and ($921) thousand, respectively. During the second quarter of this year, an interest-only strip security was written down to its expected cash flow resulting in a charge-off of $3.4 million to the provision. There were no charge-offs recorded for the year-ago quarter or nine-month period ended September 30, 2024. On a quarterly basis, the Company engages with an independent third party to perform an analysis of expected credit losses for its municipal and corporate bond securities in order to supplement our own internal review. As of September 30, 2025, the analysis concluded and the Company concurred that twelve corporate bonds were impacted by credit loss, for which $191 thousand was recorded as reversal of provision to the allowance for credit losses (“ACL”) related to available-for-sale securities and that no municipal bond securities were impacted by credit loss. The ACL related to available-for-sale securities totaled $634 thousand and $4.1 million as of September 30, 2025 and December 31, 2024, respectively. The amortized cost and fair value of investment securities AFS by contractual maturity were as follows for the periods indicated:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 1 Year or |  | More than 1 Year |  | More than 5 Years |  | More than |  | ​ | ​ |
(dollars in thousands) | ​ | Less | ​ | through 5 Years | ​ | through 10 Years | ​ | 10 Years | ​ | Total |
September 30, 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortized Cost: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 157 | ​ | $ | 387 | ​ | $ | 510,318 | ​ | $ | 510,862 | ​
Agency mortgage-backed securities | ​ | ​ | — | ​ | ​ | 2,319 | ​ | ​ | — | ​ | ​ | 862,696 | ​ | ​ | 865,015 | ​
Municipal bonds | ​ | ​ | 1,152 | ​ | ​ | 22,821 | ​ | ​ | 22,151 | ​ | ​ | 1,094 | ​ | ​ | 47,218 | ​
SBA securities | ​ | ​ | — | ​ | ​ | 433 | ​ | ​ | 104 | ​ | ​ | 6,844 | ​ | ​ | 7,381 | ​
Beneficial interests in FHLMC securitization | ​ | ​ | — | ​ | ​ | 673 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 673 | ​
Corporate bonds | ​ | ​ | — | ​ | ​ | 58,474 | ​ | ​ | 61,254 | ​ | ​ | 5,000 | ​ | ​ | 124,728 | ​
U.S. Treasury | ​ |  | 500 | ​ | ​ | 499 | ​ | ​ | — | ​ | ​ | — | ​ |  | 999 | ​
Total | ​ | $ | 1,652 | ​ | $ | 85,376 | ​ | $ | 83,896 | ​ | $ | 1,385,952 | ​ | $ | 1,556,876 | ​
Weighted average yield | ​ |  | 2.07 | % |  | 5.41 | % |  | 3.16 | % |  | 5.34 | % |  | 5.22 | %
Estimated Fair Value: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 150 | ​ | $ | 368 | ​ | $ | 509,137 | ​ | $ | 509,655 | ​
Agency mortgage-backed securities | ​ | ​ | — | ​ | ​ | 2,280 | ​ | ​ | — | ​ | ​ | 869,671 | ​ | ​ | 871,951 | ​
Municipal bonds | ​ | ​ | 1,152 | ​ | ​ | 22,520 | ​ | ​ | 21,336 | ​ | ​ | 894 | ​ | ​ | 45,902 | ​
SBA securities | ​ | ​ | — | ​ | ​ | 432 | ​ | ​ | 104 | ​ | ​ | 6,764 | ​ | ​ | 7,300 | ​
Beneficial interests in FHLMC securitization | ​ | ​ | — | ​ | ​ | 673 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 673 | ​
Corporate bonds | ​ | ​ | — | ​ | ​ | 57,345 | ​ | ​ | 57,899 | ​ | ​ | 4,049 | ​ | ​ | 119,293 | ​
U.S. Treasury | ​ |  | 492 | ​ | ​ | 507 | ​ | ​ | — | ​ | ​ | — | ​ |  | 999 | ​
Total | ​ | $ | 1,644 | ​ | $ | 83,907 | ​ | $ | 79,707 | ​ | $ | 1,390,515 | ​ | $ | 1,555,773 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 1 Year or |  | More than 1 Year |  | More than 5 Years |  | More than |  | ​ | ​ |
(dollars in thousands) | ​ | Less | ​ | through 5 Years | ​ | through 10 Years | ​ | 10 Years | ​ | Total |
December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortized Cost: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 276 | ​ | $ | 154 | ​ | $ | 10,691 | ​ | $ | 11,121 | ​
Agency mortgage-backed securities | ​ | ​ | 48 | ​ | ​ | 2,992 | ​ | ​ | — | ​ | ​ | 1,123,821 | ​ | ​ | 1,126,861 | ​
Municipal bonds | ​ | ​ | 2,594 | ​ | ​ | 14,874 | ​ | ​ | 29,218 | ​ | ​ | 2,235 | ​ | ​ | 48,921 | ​
SBA securities | ​ | ​ | — | ​ | ​ | 418 | ​ | ​ | 388 | ​ | ​ | 8,430 | ​ | ​ | 9,236 | ​
Beneficial interests in FHLMC securitization | ​ | ​ | — | ​ | ​ | 4,619 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,619 | ​
Corporate bonds | ​ | ​ | — | ​ | ​ | 61,961 | ​ | ​ | 66,282 | ​ | ​ | 5,524 | ​ | ​ | 133,767 | ​
U.S. Treasury | ​ |  | 200 | ​ |  | 500 | ​ |  | — | ​ |  | — | ​ |  | 700 | ​
Total | ​ | $ | 2,842 | ​ | $ | 85,640 | ​ | $ | 96,042 | ​ | $ | 1,150,701 | ​ | $ | 1,335,225 | ​
Weighted average yield | ​ |  | 1.99 | % |  | 5.83 | % |  | 3.01 | % |  | 5.50 | % |  | 5.34 | %
Estimated Fair Value: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 256 | ​ | $ | 150 | ​ | $ | 9,436 | ​ | $ | 9,842 | ​
Agency mortgage-backed securities | ​ | ​ | 47 | ​ | ​ | 2,882 | ​ | ​ | — | ​ | ​ | 1,118,697 | ​ | ​ | 1,121,626 | ​
Municipal bonds | ​ | ​ | 2,573 | ​ | ​ | 14,120 | ​ | ​ | 27,065 | ​ | ​ | 1,777 | ​ | ​ | 45,535 | ​
SBA securities | ​ | ​ | — | ​ | ​ | 416 | ​ | ​ | 388 | ​ | ​ | 8,341 | ​ | ​ | 9,145 | ​
Beneficial interests in FHLMC securitization | ​ | ​ | — | ​ | ​ | 4,619 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,619 | ​
Corporate bonds | ​ | ​ | — | ​ | ​ | 60,318 | ​ | ​ | 61,889 | ​ | ​ | 4,367 | ​ | ​ | 126,574 | ​
U.S. Treasury | ​ |  | 200 | ​ |  | 478 | ​ |  | — | ​ |  | — | ​ |  | 678 | ​
Total | ​ | $ | 2,820 | ​ | $ | 83,089 | ​ | $ | 89,492 | ​ | $ | 1,142,618 | ​ | $ | 1,318,019 | ​
​ The amortized cost and fair value of investment securities HTM by contractual maturity were as follows for the periods indicated: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 1 Year or |  | More than 1 Year |  | More than 5 Years |  | More than |  | ​ | ​ |
(dollars in thousands) | ​ | Less | ​ | through 5 Years | ​ | through 10 Years | ​ | 10 Years | ​ | Total |
September 30, 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortized Cost: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Agency mortgage-backed securities | ​ | $ | — | ​ | $ | 5,430 | ​ | $ | 8,279 | ​ | $ | 633,910 | ​ | $ | 647,619 | ​
Total | ​ | $ | — | ​ | $ | 5,430 | ​ | $ | 8,279 | ​ | $ | 633,910 | ​ | $ | 647,619 | ​
Weighted average yield | ​ |  | — | % |  | 1.09 | % | ​ | 1.65 | % |  | 2.46 | % | ​ | 2.44 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Estimated Fair Value: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Agency mortgage-backed securities | ​ | $ | — | ​ | $ | 5,201 | ​ | $ | 7,700 | ​ | $ | 584,393 | ​ | $ | 597,294 | ​
Total | ​ | $ | — | ​ | $ | 5,201 | ​ | $ | 7,700 | ​ | $ | 584,393 | ​ | $ | 597,294 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 1 Year or |  | More than 1 Year |  | More than 5 Years |  | More than |  | ​ | ​ |
(dollars in thousands) | ​ | Less | ​ | through 5 Years | ​ | through 10 Years | ​ | 10 Years | ​ | Total |
December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortized Cost: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Agency mortgage-backed securities | ​ | $ | — | ​ | $ | 4,542 | ​ | $ | 8,900 | ​ | $ | 698,663 | ​ | $ | 712,105 | ​
Total | ​ | $ | — | ​ | $ | 4,542 | ​ | $ | 8,900 | ​ | $ | 698,663 | ​ | $ | 712,105 | ​
Weighted average yield | ​ |  | — | % |  | 0.99 | % |  | 1.58 | % |  | 2.24 | % | ​ | 2.22 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Estimated Fair Value: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Agency mortgage-backed securities | ​ | $ | — | ​ | $ | 4,287 | ​ | $ | 8,128 | ​ | $ | 624,425 | ​ | $ | 636,840 | ​
Total | ​ | $ | — | ​ | $ | 4,287 | ​ | $ | 8,128 | ​ | $ | 624,425 | ​ | $ | 636,840 | ​
​

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