| 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 | | $ | — |
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| 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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