Federal Home Loan Bank Advances and Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents details of the Company’s FHLB advances and long-term debt as of June 30, 2026 and December 31, 2025:

	June 30, 2026				December 31, 2025
($ in thousands)	Interest Rates	Maturity Dates	Amount		Amount
Parent company
Junior subordinated debt — floating (1)	5.48%	12/15/2035	$	32,482	$	32,320
Bank
FHLB advances (2):
Floating (3)	3.77% — 3.87%	2026 — 2027	$	2,500,000	$	2,000,000
Fixed	3.87% — 3.95%	2026	500,000		750,000
Overnight	N/A	N/A	—		250,000
Total FHLB advances			$	3,000,000	$	3,000,000

N/A — Not applicable.

(1)As of June 30, 2026, the outstanding junior subordinated debt was issued by MCBI Statutory Trust I and had a stated interest of 3-month CME Term Secured Overnight Financing Rate (“SOFR”) plus a spread. The contractual interest rates for junior subordinated debt were 5.48% and 5.53% as of June 30, 2026 and December 31, 2025, respectively. For additional information on the junior subordinated debt, refer to Note 10 — Federal Home Loan Bank Advances and Long-Term Debt in the Company’s 2025 Form 10-K.

(2)The weighted-average interest rates for FHLB advances were 3.82% and 3.94% as of June 30, 2026 and December 31, 2025, respectively.

(3)Floating interest rates are based on the SOFR plus the established spread.