LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| LOANS AND ALLOWANCE FOR CREDIT LOSSES |
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| Summary of major classifications of loans |
| | | | | | | | | June 30, | | December 31, | (Dollars in thousands) | | 2026 | | 2025 | Construction and development | | $ | 69,348 | | $ | 41,796 | Commercial real estate | | | 1,463,460 | | | 1,560,728 | Commercial and industrial | | | 84,999 | | | 96,360 | Residential real estate | | | 2,365,132 | | | 2,378,311 | Consumer and other | | | 600 | | | 627 | Total loans receivable | | $ | 3,983,539 | | $ | 4,077,822 | Unearned income | | | (9,660) | | | (6,621) | Loan discounts | | | (17,560) | | | (19,804) | Allowance for credit losses | | | (25,818) | | | (27,843) | Loans held for investment, net | | $ | 3,930,501 | | $ | 4,023,554 |
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| Schedule of allowance for credit losses by portfolio segment |
| | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | | Construction | | | | | | | | | | | | | | | | | | and | | Commercial | | Commercial | | Residential | | Consumer | | | | (Dollars in thousands) | | Development | | Real Estate | | and Industrial | | Real Estate | | and Other | | Total | Allowance for credit losses: | | | | | | | | | | | | | | | | | | | Beginning balance | | $ | 61 | | $ | 14,731 | | $ | 1,469 | | $ | 10,436 | | $ | 3 | | $ | 26,700 | Charge-offs | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries | | | — | | | 96 | | | 3 | | | — | | | — | | | 99 | Provision for loan losses | | | 8 | | | (735) | | | (61) | | | (190) | | | (3) | | | (981) | Ending balance | | $ | 69 | | $ | 14,092 | | $ | 1,411 | | $ | 10,246 | | $ | — | | $ | 25,818 |
| | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | Construction | | | | | | | | | | | | | | | | | | and | | Commercial | | Commercial | | Residential | | Consumer | | | | (Dollars in thousands) | | Development | | Real Estate | | and Industrial | | Real Estate | | and Other | | Total | Allowance for credit losses: | | | | | | | | | | | | | | | | | | | Beginning balance | | $ | 44 | | $ | 7,542 | | $ | 1,202 | | $ | 9,803 | | $ | 1 | | $ | 18,592 | Charge-offs | | | — | | | (62) | | | — | | | — | | | — | | | (62) | Recoveries | | | — | | | — | | | 2 | | | — | | | — | | | 2 | Provision for loan losses | | | 3 | | | 122 | | | 199 | | | (109) | | | 1 | | | 216 | Ending balance | | $ | 47 | | $ | 7,602 | | $ | 1,403 | | $ | 9,694 | | $ | 2 | | $ | 18,748 |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | | Construction | | | | | | | | | | | | | | | | | | and | | Commercial | | Commercial | | Residential | | Consumer | | | | (Dollars in thousands) | | Development | | Real Estate | | and Industrial | | Real Estate | | and Other | | Total | Allowance for credit losses: | | | | | | | | | | | | | | | | | | | Beginning balance | | $ | 65 | | $ | 15,716 | | $ | 1,586 | | $ | 10,472 | | $ | 4 | | $ | 27,843 | Charge-offs | | | — | | | (190) | | | (92) | | | — | | | — | | | (282) | Recoveries | | | — | | | 99 | | | 8 | | | — | | | — | | | 107 | Provision for loan losses | | | 4 | | | (1,536) | | | (88) | | | (226) | | | (4) | | | (1,850) | Ending balance | | $ | 69 | | $ | 14,089 | | $ | 1,414 | | $ | 10,246 | | $ | — | | $ | 25,818 |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | Construction | | | | | | | | | | | | | | | | | | and | | Commercial | | Commercial | | Residential | | Consumer | | | | (Dollars in thousands) | | Development | | Real Estate | | and Industrial | | Real Estate | | and Other | | Total | Allowance for credit losses: | | | | | | | | | | | | | | | | | | | Beginning balance | | $ | 31 | | $ | 7,265 | | $ | 1,380 | | $ | 10,066 | | $ | 2 | | $ | 18,744 | Charge-offs | | | — | | | (62) | | | (173) | | | — | | | — | | | (235) | Recoveries | | | — | | | 1 | | | 5 | | | — | | | — | | | 6 | Provision for loan losses | | | 16 | | | 398 | | | 191 | | | (372) | | | — | | | 233 | Ending balance | | $ | 47 | | $ | 7,602 | | $ | 1,403 | | $ | 9,694 | | $ | 2 | | $ | 18,748 |
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| Schedule of delinquent amounts by portfolio segment |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accruing | | Total | | | | | Total | (Dollars in thousands) | | | | | | | | | | | Greater than | | Accruing | | | | | Financing | June 30, 2026 | | Current | | 30-59 Days | | 60-89 Days | | 90 Days | | Past Due | | Nonaccrual | | Receivables | Construction and development | | $ | 63,832 | | $ | — | | $ | 4,932 | | $ | — | | $ | 4,932 | | $ | — | | $ | 68,764 | Commercial real estate | | | 1,422,724 | | | 2,919 | | | 5,657 | | | 5,088 | | | 13,664 | | | 7,085 | | | 1,443,473 | Commercial and industrial | | | 81,372 | | | 519 | | | 1,175 | | | — | | | 1,694 | | | 963 | | | 84,029 | Residential real estate | | | 2,342,836 | | | — | | | 7,230 | | | — | | | 7,230 | | | 9,387 | | | 2,359,453 | Consumer and other | | | 600 | | | — | | | — | | | — | | | — | | | — | | | 600 | Total | | $ | 3,911,364 | | $ | 3,438 | | $ | 18,994 | | $ | 5,088 | | $ | 27,520 | | $ | 17,435 | | $ | 3,956,319 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accruing | | Total | | | | | Total | (Dollars in thousands) | | | | | | | | | | | Greater than | | Accruing | | | | | Financing | December 31, 2025 | | Current | | 30-59 Days | | 60-89 Days | | 90 Days | | Past Due | | Nonaccrual | | Receivables | Construction and development | | $ | 40,319 | | $ | 800 | | $ | — | | $ | — | | $ | 800 | | $ | — | | $ | 41,119 | Commercial real estate | | | 1,520,769 | | | 5,446 | | | 1,485 | | | — | | | 6,931 | | | 14,776 | | | 1,542,476 | Commercial and industrial | | | 94,025 | | | 306 | | | — | | | — | | | 306 | | | 1,301 | | | 95,632 | Residential real estate | | | 2,341,189 | | | 17,736 | | | 3,490 | | | — | | | 21,226 | | | 9,136 | | | 2,371,551 | Consumer and other | | | 619 | | | — | | | — | | | — | | | — | | | — | | | 619 | Total | | $ | 3,996,921 | | $ | 24,288 | | $ | 4,975 | | $ | — | | $ | 29,263 | | $ | 25,213 | | $ | 4,051,397 |
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| Schedule of of nonaccrual loans with and without a related allowance |
| | | | | | | | | | | | Nonaccrual | | Nonaccrual | | | | (Dollars in thousands) | | Loans With a | | Loans Without a | | Total | June 30, 2026 | | Related ACL | | Related ACL | | Nonaccrual Loans | Commercial real estate | | $ | 1,395 | | $ | 5,690 | | $ | 7,085 | Commercial and industrial | | | 766 | | | 197 | | | 963 | Residential real estate | | | — | | | 9,387 | | | 9,387 | Total | | $ | 2,161 | | $ | 15,274 | | $ | 17,435 |
| | | | | | | | | | | | Nonaccrual | | Nonaccrual | | | | (Dollars in thousands) | | Loans With a | | Loans Without a | | Total | December 31, 2025 | | Related ACL | | Related ACL | | Nonaccrual Loans | Commercial real estate | | $ | 4,601 | | $ | 10,175 | | $ | 14,776 | Commercial and industrial | | | 858 | | | 443 | | | 1,301 | Residential real estate | | | — | | | 9,136 | | | 9,136 | Total | | $ | 5,459 | | $ | 19,754 | | $ | 25,213 |
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| Summary of purchased loans by risk rating |
| | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | Term Loan by Origination Year | | Revolving | | | | June 30, 2026 | | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Prior | | Loans | | Total Loans | Construction and development | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 616 | | $ | 41,443 | | $ | 21,303 | | $ | — | | $ | 4,932 | | $ | 470 | | $ | — | | $ | 68,764 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total construction and development | | $ | 616 | | $ | 41,443 | | $ | 21,303 | | $ | — | | $ | 4,932 | | $ | 470 | | $ | — | | $ | 68,764 | Commercial real estate | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 61,477 | | $ | 296,351 | | $ | 285,804 | | $ | 190,562 | | $ | 279,200 | | $ | 252,128 | | $ | 2,335 | | $ | 1,367,857 | Special Mention | | | — | | | — | | | — | | | 11,899 | | | 7,191 | | | 118 | | | — | | | 19,208 | Substandard | | | — | | | — | | | — | | | 1,644 | | | 29,155 | | | 25,609 | | | — | | | 56,408 | Total commercial real estate | | $ | 61,477 | | $ | 296,351 | | $ | 285,804 | | $ | 204,105 | | $ | 315,546 | | $ | 277,855 | | $ | 2,335 | | $ | 1,443,473 | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial real estate: | | | | | | | | | | | | | | | | | | | | | | | | | Current period gross write offs | | $ | — | | $ | — | | $ | 74 | | $ | — | | $ | 116 | | $ | — | | $ | — | | $ | 190 | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and industrial | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 3,727 | | $ | 13,457 | | $ | 6,651 | | $ | 17,341 | | $ | 6,029 | | $ | 8,405 | | $ | 26,404 | | $ | 82,014 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | 484 | | | — | | | 484 | Substandard | | | — | | | — | | | — | | | 466 | | | 463 | | | 602 | | | — | | | 1,531 | Total commercial and industrial | | $ | 3,727 | | $ | 13,457 | | $ | 6,651 | | $ | 17,807 | | $ | 6,492 | | $ | 9,491 | | $ | 26,404 | | $ | 84,029 | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and industrial: | | | | | | | | | | | | | | | | | | | | | | | | | Current period gross write offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 92 | | $ | — | | $ | 92 | | | | | | | | | | | | | | | | | | | | | | | | | | Residential real estate | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 174,110 | | $ | 386,665 | | $ | 125,310 | | $ | 127,019 | | $ | 612,357 | | $ | 922,064 | | $ | — | | $ | 2,347,525 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | 181 | | | 449 | | | 559 | | | 1,372 | | | 9,367 | | | — | | | 11,928 | Total residential real estate | | $ | 174,110 | | $ | 386,846 | | $ | 125,759 | | $ | 127,578 | | $ | 613,729 | | $ | 931,431 | | $ | — | | $ | 2,359,453 | Consumer and other | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 506 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 94 | | $ | 600 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total consumer and other | | $ | 506 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 94 | | $ | 600 | | | | | | | | | | | | | | | | | | | | | | | | | | Total loans | | $ | 240,436 | | $ | 738,097 | | $ | 439,517 | | $ | 349,490 | | $ | 940,699 | | $ | 1,219,247 | | $ | 28,833 | | $ | 3,956,319 |
| | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | Term Loan by Origination Year | | Revolving | | | | December 31, 2025 | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Loans | | Total Loans | Construction and development | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 11,568 | | $ | 24,045 | | $ | 141 | | $ | 4,886 | | $ | 180 | | $ | 299 | | $ | — | | $ | 41,119 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total construction and development | | $ | 11,568 | | $ | 24,045 | | $ | 141 | | $ | 4,886 | | $ | 180 | | $ | 299 | | $ | — | | $ | 41,119 | Commercial real estate | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 329,091 | | $ | 290,439 | | $ | 213,509 | | $ | 299,971 | | $ | 148,006 | | $ | 177,640 | | $ | 3,020 | | $ | 1,461,676 | Special Mention | | | — | | | — | | | 14,152 | | | 6,915 | | | — | | | 114 | | | — | | | 21,181 | Substandard | | | — | | | — | | | 1,121 | | | 31,544 | | | 12,396 | | | 14,558 | | | — | | | 59,619 | Total commercial real estate | | $ | 329,091 | | $ | 290,439 | | $ | 228,782 | | $ | 338,430 | | $ | 160,402 | | $ | 192,312 | | $ | 3,020 | | $ | 1,542,476 | Commercial and industrial | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 9,527 | | $ | 8,481 | | $ | 20,771 | | $ | 11,244 | | $ | 4,824 | | $ | 7,356 | | $ | 31,095 | | $ | 93,298 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | 484 | | | — | | | 484 | Substandard | | | — | | | — | | | 553 | | | 463 | | | 196 | | | 638 | | | — | | | 1,850 | Total commercial and industrial | | $ | 9,527 | | $ | 8,481 | | $ | 21,324 | | $ | 11,707 | | $ | 5,020 | | $ | 8,478 | | $ | 31,095 | | $ | 95,632 | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and industrial: | | | | | | | | | | | | | | | | | | | | | | | | | Current period gross write offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 196 | | $ | 98 | | $ | — | | $ | 294 | | | | | | | | | | | | | | | | | | | | | | | | | | Residential real estate | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 417,993 | | $ | 137,770 | | $ | 148,861 | | $ | 648,433 | | $ | 686,010 | | $ | 322,444 | | $ | — | | $ | 2,361,511 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | 837 | | | 1,098 | | | 2,067 | | | 425 | | | 5,613 | | | — | | | 10,040 | Total residential real estate | | $ | 417,993 | | $ | 138,607 | | $ | 149,959 | | $ | 650,500 | | $ | 686,435 | | $ | 328,057 | | $ | — | | $ | 2,371,551 | Consumer and other | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 324 | | $ | 295 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 619 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total consumer and other | | $ | 324 | | $ | 295 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 619 | | | | | | | | | | | | | | | | | | | | | | | | | | Total loans | | $ | 768,503 | | $ | 461,867 | | $ | 400,206 | | $ | 1,005,523 | | $ | 852,037 | | $ | 529,146 | | $ | 34,115 | | $ | 4,051,397 |
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| Schedule of financial effect of the loan modifications made to borrowers borrowers experiencing financial difficulty |
| | | | | | | | | | | | | | | | | | Six months ended June 30, 2025 | | | Interest | | | | Interest | | | | % of Total | (Dollars in thousands) | | Term | | Payment | | Rate | | | | Financing | | | Extension | | Delay | | Reduction | | Total | | Receivable | Construction and development | | $ | — | | $ | — | | $ | — | | $ | — | | — | % | Commercial real estate | | | — | | | 12,200 | | | — | | | 12,200 | | 0.31 | | Commercial and industrial | | | — | | | — | | | — | | | — | | — | | Residential real estate | | | — | | | — | | | — | | | — | | — | | Consumer and other | | | — | | | — | | | — | | | — | | — | | Total | | $ | — | | $ | 12,200 | | $ | — | | $ | 12,200 | | — | % |
| | | | | | | | | | | | | Weighted/Average | | Weighted/Average | | Weighted/Average | | (Dollars in thousands) | | Months of | | Payment | | Interest Rate | | Three Months Ended March 31, 2025 | | Term Extension | | Deferral | | Reduction | | Construction and development | | | — | | $ | — | | | — | % | Commercial real estate | | | — | | | 289 | | | — | | Commercial and industrial | | | — | | | — | | | — | | Residential real estate | | | — | | | — | | | — | | Consumer and other | | | — | | | — | | | — | | Total | | | — | | $ | 289 | | | — | % |
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