v3.25.3

FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
FAIR VALUE MEASUREMENTS |
Recorded Amounts of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables show the recorded amounts of assets and liabilities measured at fair value on a recurring basis as of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurement Level
(dollars in thousands) | ​ | Total | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
September 30, 2025: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Investment securities available-for-sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Collateralized mortgage obligations | ​ | $ | 509,655 | ​ | $ | — | ​ | $ | 509,655 | ​ | $ | —
Agency mortgage-backed securities | ​ |  | 871,951 | ​ |  | — | ​ |  | 871,951 | ​ |  | —
Municipal bonds | ​ |  | 45,902 | ​ |  | — | ​ |  | 45,902 | ​ |  | —
SBA securities | ​ | ​ | 7,300 | ​ | ​ | — | ​ | ​ | 7,300 | ​ | ​ | —
Beneficial interests in FHLMC securitization | ​ | ​ | 605 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 605
Corporate bonds | ​ |  | 118,727 | ​ |  | — | ​ |  | 118,727 | ​ |  | —
U.S. Treasury | ​ | ​ | 999 | ​ | ​ | 999 | ​ | ​ | — | ​ | ​ | —
Total investment securities available for sale at fair value on a recurring basis | ​ | $ | 1,555,139 | ​ | $ | 999 | ​ | $ | 1,553,535 | ​ | $ | 605
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap and cash flow hedge | ​ | $ | 9,081 | ​ | $ | — | ​ | $ | 9,081 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Collateralized mortgage obligations | ​ | $ | 9,842 | ​ | $ | — | ​ | $ | 9,842 | ​ | $ | —
Agency mortgage-backed securities | ​ | ​ | 1,121,626 | ​ | ​ | — | ​ | ​ | 1,121,626 | ​ | ​ | —
Municipal bonds | ​ |  | 45,535 | ​ |  | — | ​ |  | 45,535 | ​ |  | —
SBA securities | ​ |  | 9,145 | ​ |  | — | ​ |  | 9,145 | ​ |  | —
Beneficial interests in FHLMC securitization | ​ |  | 1,242 | ​ |  | — | ​ |  | — | ​ |  | 1,242
Corporate bonds | ​ | ​ | 125,817 | ​ | ​ | 14,100 | ​ | ​ | 111,717 | ​ | ​ | —
U.S. Treasury | ​ |  | 678 | ​ |  | 678 | ​ |  | — | ​ |  | —
Total investment securities available for sale at fair value on a recurring basis | ​ | $ | 1,313,885 | ​ | $ | 14,778 | ​ | $ | 1,297,865 | ​ | $ | 1,242
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives assets: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Cash flow hedge | ​ | $ | 5,086 | ​ | $ | — | ​ | $ | 5,086 | ​ | $ | —
Carrying Amounts and Estimated Fair Value of Financial Instruments | The following table sets forth the estimated fair values and related carrying amounts of our financial instruments as of:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Fair Value Measurement Level
(dollars in thousands) | ​ | Value | ​ | 1 | ​ | 2 | ​ | 3 | ​ | Total
September 30, 2025: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 1,726,969 | ​ | $ | 1,726,969 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,726,969
Securities AFS, net | ​ |  | 1,555,139 | ​ |  | 999 | ​ |  | 1,553,535 | ​ |  | 605 | ​ |  | 1,555,139
Securities HTM | ​ | ​ | 647,619 | ​ | ​ | — | ​ | ​ | 597,294 | ​ | ​ | — | ​ | ​ | 597,294
Loans held for sale | ​ |  | 467,277 | ​ |  | — | ​ | ​ | — | ​ |  | 467,277 | ​ |  | 467,277
Loans held for investment, net | ​ |  | 7,200,502 | ​ |  | — | ​ |  | 47,183 | ​ |  | 6,796,843 | ​ |  | 6,844,026
Investment in equity securities | ​ |  | 11,799 | ​ |  | — | ​ |  | — | ​ |  | 11,799 | ​ |  | 11,799
Accrued interest receivable | ​ | ​ | 45,103 | ​ | ​ | 45,103 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 45,103
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 9,293,071 | ​ | $ | 7,005,410 | ​ | $ | 2,298,777 | ​ | $ | — | ​ | $ | 9,304,187
Borrowings | ​ |  | 1,422,063 | ​ |  | — | ​ |  | 1,446,392 | ​ |  | — | ​ |  | 1,446,392
Subordinated debt | ​ | ​ | 173,506 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 157,372 | ​ | ​ | 157,372
Accrued interest payable | ​ | ​ | 27,146 | ​ | ​ | 27,146 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 27,146
Derivative liabilities | ​ | ​ | 9,081 | ​ | ​ | — | ​ | ​ | 9,081 | ​ | ​ | — | ​ | ​ | 9,081
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Cash and cash equivalents | ​ | $ | 1,016,132 | ​ | $ | 1,016,132 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,016,132
Securities AFS, net | ​ |  | 1,313,885 | ​ |  | 14,778 | ​ |  | 1,297,865 | ​ |  | 1,242 | ​ |  | 1,313,885
Securities HTM | ​ | ​ | 712,105 | ​ | ​ | — | ​ | ​ | 636,840 | ​ | ​ | — | ​ | ​ | 636,840
Loans held for sale | ​ |  | 1,285,819 | ​ |  | — | ​ |  | — | ​ |  | 1,285,819 | ​ |  | 1,285,819
Loans held for investment, net | ​ |  | 7,909,091 | ​ |  | — | ​ |  | 16,663 | ​ |  | 7,595,925 | ​ |  | 7,612,588
Investment in equity securities | ​ |  | 11,798 | ​ |  | — | ​ |  | — | ​ |  | 11,798 | ​ |  | 11,798
Accrued interest receivable | ​ | ​ | 54,804 | ​ | ​ | 54,804 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 54,804
Derivative assets | ​ | ​ | 5,086 | ​ | ​ | — | ​ | ​ | 5,086 | ​ | ​ | — | ​ | ​ | 5,086
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Deposits | ​ | $ | 9,870,279 | ​ | $ | 7,476,826 | ​ | $ | 2,389,896 | ​ | $ | — | ​ | $ | 9,866,722
Borrowings | ​ |  | 1,425,369 | ​ |  | — | ​ |  | 1,430,337 | ​ |  | — | ​ |  | 1,430,337
Subordinated debt | ​ | ​ | 173,459 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 142,631 | ​ | ​ | 142,631
Accrued interest payable | ​ |  | 27,701 | ​ |  | 27,701 | ​ |  | — | ​ |  | — | ​ |  | 27,701
​

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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://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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