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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured and Recorded at Fair Value

Assets and liabilities measured and recorded at fair value, including financial assets for which the Company has elected the fair value option, on a recurring and nonrecurring basis at June 30, 2025 and December 31, 2024, are summarized below:

			June 30, 2025
(dollars in thousands)			Carrying amount						Quoted prices in active markets for identical assets (Level 1)						Significant other observable inputs (Level 2)						Significant unobservable inputs (Level 3)
Assets and liabilities measured at fair value on a recurring basis:
Assets
Investment securities available for sale:
U.S. government sponsored entities and U.S. agency securities			$	25,064					$	—					$	25,064					$	—
Mortgage-backed securities - agency			989,600						—						989,600						—
Mortgage-backed securities - non-agency			93,272						—						93,272						—
Asset-backed student loans			45,077						—						45,077						—
State and municipal securities			69,817						—						69,817						—
Collateralized loan obligations			48,050						—						48,050						—
Corporate securities			79,477						—						79,477						—
Equity securities			4,295						4,295						—						—
Residential loans held for sale			7,899						—						7,899						—
Derivative assets			5,203						—						5,203						—
Total			$	1,367,754					$	4,295					$	1,363,459					$	—
Liabilities
Derivative liabilities			$	6,917					$	—					$	6,917					$	—
Total			$	6,917					$	—					$	6,917					$	—
Assets measured at fair value on a non-recurring basis:
Nonperforming loans			$	52,156					$	—					$	—					$	52,156
Commercial loans held for sale			29,400						—						—						29,400
Other real estate owned			393						—						—						393
Credit enhancement asset			5,800						—						—						5,800

			December 31, 2024
(dollars in thousands)			Carrying amount						Quoted prices in active markets for identical assets (Level 1)						Significant other observable inputs (Level 2)						Significant unobservable inputs (Level 3)
Assets and liabilities measured at fair value on a recurring basis:
Assets
Investment securities available for sale:
U.S. government sponsored entities and U.S. agency securities			$	20,141					$	—					$	20,141					$	—
Mortgage-backed securities - agency			847,056						—						847,056						—
Mortgage-backed securities - non-agency			101,012						—						101,012						—
Asset-backed student loans			49,973						—						49,973						—
State and municipal securities			69,061						—						69,061						—
Collateralized loan obligations			40,450						—						40,450						—
Corporate securities			79,881						—						79,881						—
Equity securities			4,792						4,792						—						—
Loans held for sale			8,228						—						8,228						—
Credit enhancement asset			16,804						—						—						16,804
Derivative assets			3,837						—						3,837						—
Total			$	1,241,235					$	4,792					$	1,219,639					$	16,804
Liabilities
Derivative liabilities			$	5,655					$	—					$	5,655					$	—
Total			$	5,655					$	—					$	5,655					$	—
Assets measured at fair value on a non-recurring basis:
Nonperforming loans			$	120,222					$	—					$	—					$	120,222
Consumer loans held for sale			336,719						—						—						336,719
Other real estate owned			4,941						—						—						4,941

Schedule of Losses Recognized on Assets Measured on a Non-recurring Basis

The following table presents losses recognized on assets measured on a nonrecurring basis for the three and six months ended June 30, 2025 and 2024:

			Three Months Ended June 30,												Six Months Ended June 30,
(dollars in thousands)			2025						2024						2025						2024
Nonperforming loans			$	8,281					$	3,647					10,293						13,870
Other real estate owned			—						730						—						730
Total losses on assets measured on a nonrecurring basis			$	8,281					$	4,377					$	10,293					$	14,600

Schedule Presents Quantitative Information about Significant Unobservable Inputs used in Fair Value Measurements of Non-recurring Assets (Level 3)

The following tables present quantitative information about significant unobservable inputs used in fair value measurements of Level 3 assets measured on a nonrecurring basis at June 30, 2025 and December 31, 2024:

(dollars in thousands)

Fair value

Valuation technique

Unobservable input / assumptions

Range (weighted average)(1)

June 30, 2025

Nonperforming loans

$

52,156

Fair value of collateral

Discount for type of property, age of appraisal, and/or current status

0.00% - 39.01% (1.96%)

Other real estate owned

393

Fair value of collateral

Discount for type of property, age of appraisal, and/or current status

54.10% - 70.67% (58.17%)

Commercial loans held for sale

29,400

Market approach

None - Fair value equals contracted sales price; no significant unobservable inputs

N/A

December 31, 2024

Nonperforming loans

$

120,222

Fair value of collateral

Discount to reflect current market conditions and ultimate collectability

0.00% - 34.15% (0.67%)

Other real estate owned

4,941

Fair value of collateral

Discount for type of property, age of appraisal, and/or current status

0.00% - 43.54% (10.68%.)

Consumer loans held for sale(2)

336,719

Discounted cash flow

Discount rate

8.98%

(1)Unobservable inputs were weighted by the relative fair value of the instruments.

(2)There was one pool of loans at December 31, 2024 with write-downs during 2024, so no range or weighted average is reported.

Schedule of the Fair Value Option for Newly Originated Residential and Commercial Loans Held for Sale

The following table presents the difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected as of June 30, 2025 and December 31, 2024:

			June 30, 2025																		December 31, 2024
(dollars in thousands)			Aggregate fair value						Difference						Contractual principal						Aggregate fair value						Difference						Contractual principal
Residential loans held for sale			$	7,899					$	419					$	7,480					$	8,228					$	282					$	7,946

The following table presents the amount of gains (losses) from fair value changes included in income before income taxes for financial assets carried at fair value for the three and six months ended June 30, 2025 and 2024:

			Three Months Ended June 30,												Six Months Ended June 30,
(dollars in thousands)			2025						2024						2025						2024
Residential loans held for sale			$	48					$	(1)					$	135					$	17

Schedule Presentation of Summary of the Carrying Values and Fair Value Estimates of Certain Financial Instruments

The carrying values and estimated fair value of certain financial instruments not carried at fair value at June 30, 2025 and December 31, 2024 were as follows:

			June 30, 2025
(dollars in thousands)			Carrying amount						Fair value						Quoted prices in active markets for identical assets (Level 1)						Significant other observable inputs (Level 2)						Significant unobservable inputs (Level 3)
Assets
Cash and due from banks			$	175,897					$	175,897					$	175,897					$	—					$	—
Federal funds sold			690						690						690						—						—
Loans			5,035,295						4,909,675						—						—						4,909,675
Accrued interest receivable			25,053						25,053						—						25,053						—
Liabilities
Deposits			$	5,946,919					$	5,932,931					$	—					$	5,932,931					$	—
Short-term borrowings			8,654						8,654												8,654						—
FHLB and other borrowings			345,000						344,016						—						344,016						—
Subordinated debt			77,759						72,112						—						72,112						—
Trust preferred debentures			51,518						50,677						—						50,677						—

			December 31, 2024
(dollars in thousands)			Carrying amount						Fair value						Quoted prices in active markets for identical assets (Level 1)						Significant other observable inputs (Level 2)						Significant unobservable inputs (Level 3)
Assets
Cash and due from banks			$	114,055					$	114,055					$	114,055					$	—					$	—
Federal funds sold			711						711						711						—						—
Loans			5,167,574						4,979,885						—						—						4,979,885
Accrued interest receivable			25,329						25,329						—						25,329						—
Liabilities
Deposits			$	6,197,243					$	6,183,807					$	—					$	6,183,807					$	—
Short-term borrowings			87,499						87,499						75,000						12,499						—
FHLB and other borrowings			258,000						253,520						—						253,520						—
Subordinated debt			77,749						69,827						—						69,827						—
Trust preferred debentures			51,205						49,056						—						49,056						—

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