Funds Borrowed (Tables)

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Schedule of Outstanding Balances of Funds Borrowed

The following table presents outstanding balances of funds borrowed.

	Payments Due for the Twelve Months Ending June 30,
(Dollars in thousands)	2026		2027		2028		2029		2030		Thereafter		June 30, 2025 (1)		December 31, 2024 (1)		Interest Rate (2)
Deposits (3)	$	664,028	$	543,454	$	385,662	$	199,629	$	216,994	$	—	$	2,009,767	$	2,091,663		3.81	%
Privately placed notes		31,250		—		53,750		39,000		—		22,500		146,500		146,500		8.12
SBA debentures and borrowings		15,500		4,500		—		2,500		—		48,000		70,500		70,250		3.81
Trust preferred securities		—		—		—		—		—		33,000		33,000		33,000		6.70
Federal reserve and other borrowings		40,000		—		—		—		—		—		40,000		35,000		4.50
Total	$	750,778	$	547,954	$	439,412	$	241,129	$	216,994	$	103,500	$	2,299,767	$	2,376,413		4.14	%

(1)Excludes deferred financing costs of $8.5 million and $8.2 million as of June 30, 2025 and December 31, 2024.

(2)Weighted average contractual rate as of June 30, 2025.

(3)Balance excludes $4.6 million and $3.0 million of strategic partner reserve deposits and includes $4.6 million and $6.0 million in retail savings deposit balances as of June 30, 2025 and December 31, 2024.

Summary of Maturity of Deposit Pools and Savings Deposits, Including Strategic Partner Reserve Deposits

The following table presents the maturity of the deposit pools and retail savings deposits, which includes strategic partner reserve deposits, as of June 30, 2025.

(Dollars in thousands)	June 30, 2025
Three months or less	$	223,935
Over three months through six months		102,360
Over six months through one year		337,733
Over one year		1,345,739
Deposits		2,009,767
Strategic partner collateral deposits		4,550
Total deposits	$	2,014,317

Schedule of Private Placement Notes

The following table presents the private placement notes outstanding as of June 30, 2025 and December 31, 2024.

(Dollars in thousands)
Date of Notes	Maturity	Interest Rate			Interest Payable	June 30, 2025		December 31, 2024
December 2020	December 2027		7.500	%	Semi-annually	$	53,750	$	53,750
February 2021	February 2026		7.250	%	Semi-annually		31,250		31,250
September 2023	September 2028		9.250	%	Semi-annually		39,000		39,000
June 2024	June 2039		8.875	%	Semi-annually		17,500		17,500
August 2024	August 2039		8.625	%	Semi-annually		5,000		5,000
						$	146,500	$	146,500

Schedule of SBA Debentures and Borrowings

The following table presents the SBA debentures and borrowings as of June 30, 2025 and December 31, 2024.

(Dollars in thousands)
Date of Notes	Maturity	Interest Rate			Interest Payable	June 30, 2025		December 31, 2024
March 2015	March 2025		2.87	%	Semi-annually	$	—	$	10,000
September 2015	September 2025		3.57	%	Semi-annually		4,000		4,000
March 2016	March 2026		3.25	%	Semi-annually		1,500		1,500
March 2016	March 2026		3.18	%	Semi-annually		10,000		10,000
May 2016	September 2026		2.72	%	Semi-annually		2,500		2,500
March 2017	March 2027		3.52	%	Semi-annually		2,000		2,000
September 2018	September 2028		4.22	%	Semi-annually		1,250		1,250
March 2019	March 2029		3.79	%	Semi-annually		1,250		1,250
September 2020	September 2030		1.71	%	Semi-annually		3,000		3,000
June 2021	September 2031		1.58	%	Semi-annually		8,500		8,500
October 2021	March 2032		3.21	%	Semi-annually		7,000		7,000
October 2022	March 2033		5.44	%	Semi-annually		4,750		4,750
April 2023	September 2033		5.96	%	Semi-annually		4,750		4,750
September 2023	March 2034		5.08	%	Semi-annually		4,750		4,750
November 2023	March 2034		5.08	%	Semi-annually		5,000		5,000
March 2025	September 2035	*			Semi-annually		10,250		—
						$	70,500	$	70,250

(*) Interest rate will price in September 2025 and will accrue interest at a rate which approximates 5% until that time.