Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Measurements

Summary of assets measured and reported at estimated fair value on a recurring basis

December 31, 2025	Level 1		Level 2		Level 3		Fair Value
Assets:	(in thousands)
Available-for-sale securities:
U.S. Treasury securities	$	95,783	$	—	$	—	$	95,783
U.S. Government agencies		—		9,212		—		9,212
Agency mortgage-backed securities		—		68,591		—		68,591
Agency collateralized mortgage obligations		—		12,237		—		12,237
Corporate bonds		—		55,664		14,221		69,885
Municipal obligations		—		6,524		—		6,524
SBA securities		—		6,727				6,727
Total available-for-sale securities	$	95,783	$	158,955	$	14,221	$	268,959
Derivative assets	$	—	$	23,562	$	—	$	23,562
Liabilities:
Derivative liabilities	$	—	$	22,295	$	—	$	22,295

December 31, 2024	Level 1		Level 2		Level 3		Fair Value
Assets:	(in thousands)
Available-for-sale securities:
U.S. Treasury securities	$	69,084	$	—	$	—	$	69,084
U.S. Government agencies		—		9,007				9,007
Agency mortgage-backed securities		—		39,184		—		39,184
Agency collateralized mortgage obligations		—		10,833		—		10,833
Corporate bonds		—		75,147		8,898		84,045
Municipal obligations		—		9,806		—		9,806
SBA securities		—		6,246				6,246
Total available-for-sale securities	$	69,084	$	150,223	$	8,898	$	228,205
Derivative assets	$	—	$	27,174	$	—	$	27,174
Liabilities:
Derivative liabilities	$	—	$	27,177	$	—	$	27,177

Summary of assets measured at fair value on a non-recurring basis

	December 31, 2025
	(in thousands)
	Level 1		Level 2		Level 3		Fair Value
Collateral-dependent loans, net of reserve	$	—	$	—	$	42,041	$	42,041

	December 31, 2024
	(in thousands)
	Level 1		Level 2		Level 3		Fair Value
Collateral-dependent loans, net of reserve	$	—	$	—	$	10,951	$	10,951

Summary of significant unobservable inputs used in the fair value measurements for Level 3 assets and liabilities measured at fair value on a nonrecurring basis

	Significant	Significant
	Valuation	Observable	Unobservable
	Technique	Inputs	Inputs
Collateral-dependent (previously known as impaired loans)	Appraisal Value / Comparison Sales / Enterprise Value	Appraisals and/or sales of comparable properties or financial statements of the business	Appraisals discounted 5 to 20% for sales commission and other holding costs; Enterprise value discounts of assets, liabilities and equity; industry EBITDA multiples

Summary of estimated fair values, related carrying amounts, and valuation level of the financial instruments

	December 31, 2025
	Carrying		Fair
	Amount		Value		Level 1		Level 2		Level 3
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	407,596	$	407,596	$	407,596	$	—	$	—
Loans held for sale, at fair value		66,447		66,447		66,447		—		—
Loans receivable, net		5,898,729		5,893,652		—		—		5,893,652
Accrued interest receivable		25,390		25,390		25,390		—		—
Non-public investments		33,740		33,740		—		16,594		17,146
BOLI		104,335		104,335		—		104,335		—
Financial Liabilities:
Deposits, other than time deposits	$	3,348,643	$	3,348,643	$	3,348,643	$	—	$	—
Time deposits		2,504,891		2,506,499		—		2,506,499		—
FHLB Borrowings		196,235		191,970		—		191,970		—

	December 31, 2024
	Carrying		Fair
	Amount		Value		Level 1		Level 2		Level 3
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	363,855	$	363,855	$	363,855	$	—	$	—
Loans receivable, net		4,294,185		4,196,079		—		—		4,196,079
Accrued interest receivable		19,685		19,685		19,685		—		—
Non-public investments		24,364		24,364		—		18,870		5,494
BOLI		102,785		102,785		—		102,785		—
Financial Liabilities:
Deposits, other than time deposits	$	2,214,372	$	2,214,372	$	2,214,372	$	—	$	—
Time deposits		1,963,280		1,964,801		—		1,964,801		—
FHLB Borrowings		120,835		120,778		—		120,778		—