Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Recorded Amount of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis.


	As of September 30, 2026
(dollars in thousands)	Quoted Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total Fair Value
Assets:
Investment securities available-for-sale:

U.S. agency securities	$	—	$	278,030	$	—	$	278,030
Residential mortgage-backed securities	—		476,400		—		476,400
Commercial mortgage-backed securities	—		53,609		—		53,609
Municipal bonds	—		82,014		—		82,014
Corporate bonds	—		1,977		—		1,977
Derivative assets	—		45,333		—		45,333


Total assets measured at fair value on a recurring basis	$	—	$	937,363	$	—	$	937,363
Liabilities:


Derivative liabilities	$	—	$	70,496	$	—	$	70,496
Total liabilities measured at fair value on a recurring basis	$	—	$	70,496	$	—	$	70,496

	As of December 31, 2025
(dollars in thousands)	Quoted Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total Fair Value
Assets:
Investment securities available-for-sale:

U.S. agency securities	—		337,708		—		337,708
Residential mortgage-backed securities	—		562,504		—		562,504
Commercial mortgage-backed securities	—		66,545		—		66,545
Municipal bonds	—		8,046		—		8,046
Corporate bonds	—		1,967		—		1,967

Derivative assets	—		24,332		—		24,332


Total assets measured at fair value on a recurring basis	$	—	$	1,001,102	$	—	$	1,001,102
Liabilities:


Derivative liabilities	$	—	$	23,942	$	—	$	23,942
Total liabilities measured at fair value on a recurring basis	$	—	$	23,942	$	—	$	23,942

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

The table below presents assets measured at fair value on a nonrecurring basis. There were no liabilities measured at fair value on a non-recurring basis as of September 30, 2026 and December 31, 2025.


	As of September 30, 2026
(dollars in thousands)	Quoted Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total Fair Value
Individually assessed loans:
Commercial	$	—	$	—	$	14,037	$	14,037
Income producing - commercial real estate	—		—		112,242		112,242
Owner occupied - commercial real estate	—		—		3,072		3,072
Real estate mortgage - residential	—		—		540		540
Construction - commercial and residential	—		—		4,486		4,486
Consumer	—		—		489		489
Loans held for sale	—		—		13,534		13,534
Other real estate owned	—		—		—		—
Total assets measured at fair value on a nonrecurring basis	$	—	$	—	$	148,400	$	148,400


	As of December 31, 2025
(dollars in thousands)	Quoted Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total Fair Value
Individually assessed loans:
Commercial	$	—	$	—	$	8,580	$	8,580
Income producing - commercial real estate	—		—		59,655		59,655
Owner occupied - commercial real estate	—		—		3,695		3,695
Real estate mortgage - residential	—		—		579		579
Construction - commercial and residential	—		—		14,460		14,460
Consumer	—		—		333		333
Loans held for sale	—		—		90,650		90,650

Other real estate owned	—		—		2,059		2,059
Total assets measured at fair value on a nonrecurring basis	$	—	$	—	$	180,011	$	180,011

Schedule of Estimated Fair Values of Financial Instruments

The table below presents the estimated fair values of the Company’s financial instruments.


					Fair Value Measurements
(dollars in thousands)	Carrying Value		Fair Value		Quoted Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
As of September 30, 2026
Assets
Cash and due from banks	$	13,643	$	13,643	$	13,643	$	—	$	—
Interest-bearing deposits with other banks	528,617		528,617		—		528,617		—
Investment securities available-for-sale	892,030		892,030		—		892,030		—
Investment securities held-to-maturity	797,449		684,454		—		684,454		—
Federal Reserve and Federal Home Loan Bank stock	27,885		N/A		—		—		—
Loans held for sale	13,534		13,534		—				13,534
Loans held for investment(1)	6,563,354		6,411,539		—		—		6,411,539
Bank-owned life insurance	346,696		346,696		—		346,696		—
Annuity investment	11,084		11,084		—		11,084		—

Interest rate product	45,333		45,333		—		45,333		—
Accrued interest receivable	38,607		38,607		—		38,607		—

Liabilities
Noninterest-bearing deposits	1,552,920		1,552,920		—		1,552,920		—
Interest-bearing deposits	3,710,115		3,710,115		—		3,710,115		—
Time deposits	2,770,972		2,771,713		—		2,771,713		—


Long-term borrowings	76,676		81,160		—		81,160		—
Interest rate product	70,496		70,496		—		70,496		—
Accrued interest payable	7,201		7,201		—		7,201		—

As of December 31, 2025
Assets
Cash and due from banks	$	11,692	$	11,692	$	11,692	$	—	$	—
Interest-bearing deposits with other banks	684,001		684,001		—		684,001		—
Investment securities available-for-sale	976,770		976,770		—		976,770		—
Investment securities held-to-maturity	854,780		774,947		—		774,947		—
Federal Reserve and Federal Home Loan Bank stock	28,327		N/A		—		—		—
Loans held for sale	90,650		90,650		—				90,650
Loans held for investment(1)	7,280,459		7,093,276		—		—		7,093,276
Bank-owned life insurance	335,177		335,177		—		335,177		—
Annuity investment	12,061		12,061		—		12,061		—
Interest rate product	24,332		24,332		—		24,332		—
Accrued interest receivable	41,373		41,373		—		41,373		—

Liabilities
Noninterest-bearing deposits	1,433,952		1,433,952		—		1,433,952		—
Interest-bearing deposits	4,662,967		4,662,967		—		4,662,967		—
Time deposits	3,036,687		3,050,951		—		3,050,951		—


Long-term borrowings	76,428		80,329		—		80,329		—
Interest rate product	23,942		23,942		—		23,942		—
Accrued interest payable	10,798		10,798		—		10,798		—

(1)Carrying value includes unamortized net deferred fees and costs of $17.62 million and $17.63 million as of September 30, 2026 and December 31, 2025, respectively.