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Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Schedule of Loans summary of the balances of loans as of the dates indicated (dollars in thousands):
March 31, 2025December 31, 2024
Residential$2,669,498 $2,699,890 
Commercial900 8,013 
MPP2,468,212 1,710,820 
Total loans5,138,610 4,418,723 
Less:
Allowance for credit losses12,315 11,190 
Net deferred loan (cost)/fees(8,560)(9,031)
Net loans$5,134,855 $4,416,564 
Schedule of Allowance for Credit Loss
Activity in the allowance for credit losses for the three months ended March 31, 2025 is summarized as follows (dollars in thousands):
Three Months Ended March 31, 2025
ResidentialCommercialMPPUnallocatedTotal
Beginning balance$10,468 $32 $684 $6 $11,190 
Charge-offs(311)— — — (311)
Recoveries48 4 — — 52 
Provision (benefit)1,116 (32)303 (3)1,384 
Ending balance$11,321 $4 $987 $3 $12,315 
Activity in the allowance for loan losses for the three months ended March 31, 2024 is summarized as follows (dollars in thousands):
Three Months Ended March 31, 2024
ResidentialCommercialMPPUnallocatedTotal
Beginning balance$11,742 $51 $458 $44 $12,295 
Charge-offs(434)— — — (434)
Recoveries428 15 — — 443 
Provision (benefit)352 (58)76 (39)331 
Ending balance$12,088 $8 $534 $5 $12,635 
Schedule of Nonaccrual Loans
The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing in the held for investment portfolio, excluding those loans carried at fair value, as of March 31, 2025 (dollars in thousands):
March 31, 2025
Nonaccrual
with No
Allowance		Nonaccrual
with
Allowance		Total
Nonaccrual		Over
90 days
Accruing		Total
Residential:
Construction and land development$2,770 $1,283 $4,053 $2,430 $6,483 
Home equity lines of credit10,024 1,906 11,930 289 12,219 
Closed end, first liens36,306 13,056 49,362 5,190 54,552 
Closed end, second liens456 1,121 1,577 608 2,185 
Total$49,556 $17,366 $66,922 $8,517 $75,439 

The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing in the held for investment portfolio, excluding those loans carried at fair value, as of December 31, 2024 (dollars in thousands):
December 31, 2024
Nonaccrual
with No
Allowance		Nonaccrual
with
Allowance		Total
Nonaccrual		Over
90 days
Accruing		Total
Residential:
Construction and land development$2,583 $1,650 $4,233 $— $4,233 
Home equity lines of credit8,420 2,387 10,807 200 11,007 
Closed end, first liens36,192 11,514 47,706 4,020 51,726 
Closed end, second liens287 1,247 1,534 31 1,565 
Total$47,482 $16,798 $64,280 $4,251 $68,531 
Schedule of Financing Receivable, Collateral Dependent Loans
The amortized cost of collateral dependent loans by class as of March 31, 2025 and December 31, 2024 was as follows (dollars in thousands):
March 31, 2025
Collateral Type
Real EstateOtherAllowance
Allocated
Residential:
Construction and land development$3,005 $— $93 
Home equity lines of credit10,736 — 69 
Closed end, first liens45,867 — 301 
Closed end, second liens629 — 114 
Total$60,237 $— $577 
December 31, 2024
Collateral Type
Real EstateOtherAllowance
Allocated
Residential:
Construction and land development$3,066 $— $4 
Home equity lines of credit9,748 — 40 
Closed end, first liens45,340 — 341 
Closed end, second liens469 — 114 
Commercial118 $— — 
Total$58,741 $— $499 
Schedule of Loans Past Due
The following tables detail the age analysis of loans, excluding those loans carried at fair value, at March 31, 2025 and December 31, 2024 (dollars in thousands):
March 31, 2025
30 - 59 Days
Past Due		60 - 89 Days
Past Due		Greater than
90 Days		Total Past
Due		CurrentTotal
Loans
Residential:
Construction and land development$5,048 $5,040 $5,434 $15,522 $182,374 $197,896 
Home equity lines of credit5,986 3,320 6,963 16,269 723,096 739,365 
Closed end, first liens21,493 8,220 35,270 64,983 1,420,717 1,485,700 
Closed end, second liens3,770 347 1,076 5,193 75,555 80,748 
Commercial— 74 119 193 707 900 
MPP— — — — 2,468,212 2,468,212 
Total$36,297 $17,001 $48,862 $102,160 $4,870,661 $4,972,821 
December 31, 2024
30 - 59 Days
Past Due		60 - 89 Days
Past Due		Greater than
90 Days		Total Past
Due		CurrentTotal
Loans
Residential:
Construction and land development$3,321 $847 $2,935 $7,103 $209,853 $216,956 
Home equity lines of credit4,161 1,826 8,639 14,626 696,541 711,167 
Closed end, first liens26,555 6,412 33,766 66,733 1,459,810 1,526,543 
Closed end, second liens716 667 435 1,818 79,478 81,296 
Commercial79 — 118 197 7,816 8,013 
MPP— — — — 1,710,820 1,710,820 
Total$34,832 $9,752 $45,893 $90,477 $4,164,318 $4,254,795 
Schedule of Financing Receivable Credit Quality Indicators
The following table reflects amortized cost basis of loans and year to date charge-offs (excluding those loans carried at fair value) as of March 31, 2025 based on year of origination (dollars in thousands):
20252024202320222021PriorRevolving
Loans
Amortized
Cost Basis		Total
Construction and land development:
Performing$1,070 $14,350 $52,278 $66,996 $36,379 $22,770 $— $193,843 
Nonperforming— — 1,479 2,242 181 151 — 4,053 
Total1,070 14,350 53,757 69,238 36,560 22,921 — 197,896 
Gross charge-offs— — — — — — — — 
Home equity lines of credit:
Performing— — — — — — 727,435 727,435 
Nonperforming— — — — — — 11,930 11,930 
Total— — — — — — 739,365 739,365 
Gross charge-offs— — 40 — — — — 40 
First liens, closed end loans:
Performing3,504 30,195 89,364 1,048,008 153,044 112,223 — 1,436,338 
Nonperforming— 2,244 5,776 31,038 3,004 7,300 — 49,362 
Total3,504 32,439 95,140 1,079,046 156,048 119,523 — 1,485,700 
Gross charge-offs— — — 221 — — — 221 
Second liens, closed end loans:
Performing1,068 5,088 15,016 33,535 8,406 16,058 — 79,171 
Nonperforming— — 705 559 58 255 — 1,577 
Total1,068 5,088 15,721 34,094 8,464 16,313 — 80,748 
Gross charge-offs— — 50 — — — — 50 
Commercial: Risk Rating
Pass— — — — — 591 234 825 
Special mention— — — — — 75 — 75 
Total— — — — — 666 234 900 
Gross charge-offs— — — — — — — — 
MPP: Risk Rating
Pass— — — — — — 2,468,212 2,468,212 
Special mention— — — — — — — — 
Total— — — — — — 2,468,212 2,468,212 
Gross charge-offs— — — — — — — — 
Grand total$5,642 $51,877 $164,618 $1,182,378 $201,072 $159,423 $3,207,811 $4,972,821 
Grand total gross charge-offs$— $— $90 $221 $— $— $— $311 
There were no revolving loans converted to term loans during the three months ended March 31, 2025.
The following table reflects amortized cost basis of loans and full year charge-offs as of December 31, 2024 based on year of origination (dollars in thousands):
20242023202220212020PriorRevolving
Loans
Amortized
Cost Basis		Total
Construction and land development
Performing$15,270 $64,713 $70,314 $38,369 $13,447 $10,610 $— $212,723 
Nonperforming— 1,893 2,012 181 — 147 — 4,233 
Total15,270 66,606 72,326 38,550 13,447 10,757 — 216,956 
Gross charge-offs— 268 638 — — — — 906 
Home equity lines of credit:
Performing— — — — — — 700,360 700,360 
Nonperforming— — — — — — 10,807 10,807 
Total— — — — — — 711,167 711,167 
Gross charge-offs— 126 598 486 — 8 — 1,218 
First liens, closed end loans:
Performing55,893 95,908 1,055,560 157,222 42,292 71,962 — 1,478,837 
Nonperforming839 5,274 30,919 3,286 2,855 4,533 — 47,706 
Total56,732 101,182 1,086,479 160,508 45,147 76,495 — 1,526,543 
Gross charge-offs— 22 73 — 16 59 — 170 
Second liens, closed end loans:
Performing5,235 15,683 32,903 8,492 8,503 8,946 — 79,762 
Nonperforming— 681 541 59 — 253 — 1,534 
Total5,235 16,364 33,444 8,551 8,503 9,199 — 81,296 
Gross charge-offs— 152 147 — — — — 299 
Commercial: Risk Rating
Pass— — — — — 618 7,308 7,926 
Special mention— — — — — 87 — 87 
Total— — — — — 705 7,308 8,013 
Gross charge-offs— — — — — — — — 
MPP: Risk Rating
Pass— — — — — — 1,710,820 1,710,820 
Special mention— — — — — — — — 
Total— — — — — — 1,710,820 1,710,820 
Gross charge-offs— — — — — — — — 
Grand total$77,237 $184,152 $1,192,249 $207,609 $67,097 $97,156 $2,429,295 $4,254,795 
Grand total gross charge-offs$— $568 $1,456 $486 $16 $67 $— $2,593