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Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Carrying Values and Estimated Fair Values of Financial Instruments | The following table presents the carrying values and estimated fair values of our financial instruments as of the periods shown:
(Dollars in thousands) |  | Carrying Value |  | Estimated Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level I) |  | Significant Other Observable Inputs (Level II) |  | Significant Unobservable Inputs (Level III)
March 31, 2024 |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 640,426 |  |  | $ | 640,426 |  |  | $ | 640,426 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 349,678 |  |  | 349,678 |  |  | — |  |  | 324,815 |  |  | 24,863 |
Equity securities |  | 41,037 |  |  | 41,037 |  |  | 3,800 |  |  | — |  |  | 37,237 |
Loans receivable, net |  | 2,244,506 |  |  | 2,326,879 |  |  | — |  |  | — |  |  | 2,326,879 |
Servicing rights |  | 1,710 |  |  | 1,756 |  |  | — |  |  | — |  |  | 1,756 |
Interest rate swaps |  | 7,784 |  |  | 7,784 |  |  | — |  |  | 7,784 |  |  | — |
Accrued interest receivable |  | 17,885 |  |  | 17,885 |  |  | — |  |  | 2,809 |  |  | 15,076 |
FHLB Stock |  | 2,088 |  |  | 2,088 |  |  | — |  |  | 2,088 |  |  | — |
Embedded derivative |  | 648 |  |  | 648 |  |  | — |  |  | — |  |  | 648 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 3,145,329 |  |  | $ | 3,102,867 |  |  | $ | — |  |  | $ | 3,102,867 |  |  | $ | — |
Repurchase agreements |  | 3,810 |  |  | 3,810 |  |  | — |  |  | 3,810 |  |  | — |
Interest rate swaps |  | 7,784 |  |  | 7,784 |  |  | — |  |  | 7,784 |  |  | — |
Fair value hedge |  | 729 |  |  | 729 |  |  | — |  |  | 729 |  |  | — |
Accrued interest payable |  | 3,064 |  |  | 3,064 |  |  | — |  |  | 3,064 |  |  | — |
Senior term loan |  | 6,549 |  |  | 6,503 |  |  | — |  |  | 6,503 |  |  | — |
Subordinated debt |  | 73,602 |  |  | 60,133 |  |  | — |  |  | 60,133 |  |  | — |
December 31, 2023 |  |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 398,229 |  |  | $ | 398,229 |  |  | $ | 398,229 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 345,275 |  |  | 345,275 |  |  | — |  |  | 319,530 |  |  | 25,745 |
Equity securities |  | 41,086 |  |  | 41,086 |  |  | 3,590 |  |  | — |  |  | 37,496 |
Loans held-for-sale |  | 629 |  |  | 629 |  |  | — |  |  | 629 |  |  | — |
Loans receivable, net |  | 2,295,470 |  |  | 2,230,279 |  |  | — |  |  | — |  |  | 2,230,279 |
Servicing rights |  | 1,768 |  |  | 1,799 |  |  | — |  |  | — |  |  | 1,799 |
Interest rate swaps |  | 6,249 |  |  | 6,249 |  |  | — |  |  | 6,249 |  |  | — |
Accrued interest receivable |  | 15,267 |  |  | 15,267 |  |  | — |  |  | 2,836 |  |  | 12,431 |
FHLB Stock |  | 2,094 |  |  | 2,094 |  |  | — |  |  | 2,094 |  |  | — |
Embedded derivative |  | 648 |  |  | 648 |  |  | — |  |  | — |  |  | 648 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 2,901,476 |  |  | $ | 2,587,246 |  |  | $ | — |  |  | $ | 2,587,246 |  |  | $ | — |
Repurchase agreements |  | 4,821 |  |  | 4,821 |  |  | — |  |  | 4,821 |  |  | — |
Interest rate swaps |  | 6,249 |  |  | 6,249 |  |  | — |  |  | 6,249 |  |  | — |
Fair value hedge |  | 6,111 |  |  | 6,111 |  |  | — |  |  | 6,111 |  |  | — |
Accrued interest payable |  | 2,385 |  |  | 2,385 |  |  | — |  |  | 2,385 |  |  | — |
Senior term loan |  | 6,786 |  |  | 6,786 |  |  | — |  |  | 6,786 |  |  | — |
Subordinated debt |  | 73,540 |  |  | 57,234 |  |  | — |  |  | 57,234 |  |  | — |

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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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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