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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying Amount And Estimated Fair Value Of Assets And Liabilities


	December 31, 2023
					Quoted prices		Significant
					in active		other		Significant
					markets for		observable		unobservable
	Carrying		Estimated		identical assets		inputs		inputs
	amount		fair value		(Level 1)		(Level 2)		(Level 3)
		(in thousands)
Investment securities, available-for-sale	$	747,534	$	747,534	$	—	$	735,463	$	12,071
Federal Reserve, FHLB and ACBB stock		15,591		15,591		—		—		15,591
Commercial loans, at fair value		332,766		332,766		—		—		332,766
Loans, net of deferred loan fees and costs		5,361,139		5,329,436		—		—		5,329,436
Interest rate swaps, asset		285		285		—		285		—
Demand and interest checking		6,630,251		6,630,251		—		6,630,251		—
Savings and money market		50,659		50,659		—		50,659		—
Senior debt		95,859		96,539		—		96,539		—
Subordinated debentures		13,401		11,470		—		—		11,470
Securities sold under agreements to repurchase		42		42		42		—		—


	December 31, 2022
					Quoted prices		Significant
					in active		other		Significant
					markets for		observable		unobservable
	Carrying		Estimated		identical assets		inputs		inputs
	amount		fair value		(Level 1)		(Level 2)		(Level 3)
		(in thousands)
Investment securities, available-for-sale	$	766,016	$	766,016	$	—	$	745,993	$	20,023
Federal Reserve, FHLB and ACBB stock		12,629		12,629		—		—		12,629
Commercial loans, at fair value		589,143		589,143		—		—		589,143
Loans, net of deferred loan fees and costs		5,486,853		5,462,948		—		—		5,462,948
Interest rate swaps, asset		408		408		—		408		—
Demand and interest checking		6,559,617		6,559,617		—		6,559,617		—
Savings and money market		140,496		140,496		—		140,496		—
Senior debt		99,050		93,871		—		93,871		—
Time deposits		330,000		330,000				330,000		—
Subordinated debentures		13,401		10,067		—		—		10,067
Securities sold under agreements to repurchase		42		42		42		—		—

Changes In Company's Level 3 Assets

The Company’s Level 3 asset activity for the categories shown for the years 2023 and 2022 is as follows (in thousands):


		Fair Value Measurements Using
		Significant Unobservable Inputs
		(Level 3)

	Available-for-sale				Commercial loans,
	securities				at fair value
	December 31, 2023		December 31, 2022		December 31, 2023		December 31, 2022
Beginning balance	$	20,023	$	19,031	$	589,143	$	1,388,416
Transfers to OREO		—		—		(2,686)		(61,580)
Total net (losses) or gains (realized/unrealized)
Included in earnings		—		—		3,869		12,570
Included in earnings (included in credit loss)		(10,000)		—		—		—
Included in other comprehensive income/(loss)		2,048		992		—		—
Purchases, issuances, sales and settlements
Issuances		—		—		134,256		66,067
Settlements		—		—		(391,816)		(816,330)
Ending balance	$	12,071	$	20,023	$	332,766	$	589,143

Total losses year to date included
in earnings attributable to the change in
unrealized gains or losses relating to assets still
held at the reporting date as shown above.	$	—	$	—	$	(3,085)	$	(3,492)


	Fair Value Measurements Using
	Significant Unobservable Inputs
	(Level 3)

	Assets held-for-sale
	from discontinued operations
	December 31, 2023		December 31, 2022
Beginning balance	$	—	$	3,268
Settlements		—		(3,268)
Ending balance	$	—	$	—

Total losses year to date included
in earnings attributable to the change in
unrealized gains or losses relating to assets still
held at the reporting date as shown above.	$	—	$	—

Schedule Of Other Real Estate Owned


	December 31, 2023		December 31, 2022
Beginning balance	$	21,210	$	18,873
Transfer from commercial loans, at fair value		2,686		—
Writedowns		(1,147)		—
Sales		(5,800)		(2,343)
Transfers from commercial loans, at fair value		—		4,680
Ending balance	$	16,949	$	21,210

Fair Value Inputs, Assets, Quantitative Information



	Fair value at				Range at	Weighted average at
Level 3 instruments only	December 31, 2023		Valuation techniques	Unobservable inputs	December 31, 2023	December 31, 2023

Commercial mortgage-backed investment
security⁽¹⁾	$	12,071	Discounted cash flow	Discount rate	14.00%	14.00%
FHLB, ACBB,
and Federal Reserve Bank stock		15,591	Cost	N/A	N/A	N/A
Loans, net of deferred loan fees and costs⁽²⁾		5,329,436	Discounted cash flow	Discount rate	7.40%-13.00%	8.41%

Commercial - SBA⁽³⁾		119,287	Discounted cash flow	Discount rate	7.46%	7.46%
Non-SBA commercial real estate - fixed⁽⁴⁾		162,674	Discounted cash flow and appraisal	Discount rate	8.00%-12.30%	8.76%
Non-SBA commercial real estate - floating⁽⁵⁾		50,805	Discounted cash flow	Discount rate	9.30%-16.50%	14.19%
Commercial loans, at fair value		332,766

Subordinated debentures⁽⁶⁾		11,470	Discounted cash flow	Discount rate	11.00%	11.00%

OREO⁽⁷⁾		16,949	Appraised value	N/A	N/A	N/A


	Fair value at				Range at	Weighted average at
Level 3 instruments only	December 31, 2022		Valuation techniques	Unobservable inputs	December 31, 2022	December 31, 2022

Commercial mortgage-backed investment
securities	$	12,323	Discounted cash flow	Discount rate	12.71%	12.71%
Insurance liquidating trust preferred security		7,700	Discounted cash flow	Discount rate	11.50%	11.50%
FHLB, ACBB,
and Federal Reserve Bank stock		12,629	Cost	N/A	N/A	N/A
Loans, net of deferred loan fees and costs		5,462,948	Discounted cash flow	Discount rate	5.65%-11.00%	6.86%

Commercial - SBA		146,717	Discounted cash flow	Discount rate	5.57%-6.25%	6.17%
Non-SBA commercial real estate - fixed		28,695	Discounted cash flow and appraisal	Discount rate	8.36%-11.65%	10.31%
Non-SBA commercial real estate - floating		413,731	Discounted cash flow	Discount rate	7.07%-17.20%	7.90%
Commercial loans, at fair value		589,143

Subordinated debentures		10,067	Discounted cash flow	Discount rate	11.50%	11.50%

OREO		21,210	Appraised value	N/A	N/A	N/A

Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets Measured At Fair Value On A Recurring And Nonrecurring Basis


			Fair Value Measurements at Reporting Date Using
			Quoted prices in active		Significant other		Significant
			markets for identical		observable		unobservable
	Fair value		assets		inputs		inputs
	December 31, 2023		(Level 1)		(Level 2)		(Level 3)

Investment securities, available-for-sale
U.S. Government agency securities	$	33,886	$	—	$	33,886	$	—
Asset-backed securities		325,353		—		325,353		—
Obligations of states and political subdivisions		47,237		—		47,237		—
Residential mortgage-backed securities		160,767		—		160,767		—
Collateralized mortgage obligation securities		34,038		—		34,038		—
Commercial mortgage-backed securities		146,253		—		134,182		12,071
Total investment securities, available-for-sale		747,534		—		735,463		12,071
Commercial loans, at fair value		332,766		—		—		332,766
Interest rate swaps, asset		285		—		285		—
	$	1,080,585	$	—	$	735,748	$	344,837


			Fair Value Measurements at Reporting Date Using
			Quoted prices in active		Significant other		Significant
			markets for identical		observable		unobservable
	Fair value		assets		inputs		inputs
	December 31, 2022		(Level 1)		(Level 2)		(Level 3)
	.
Investment securities, available-for-sale
U.S. Government agency securities	$	28,381	$	—	$	28,381	$	—
Asset-backed securities		334,009		—		334,009		—
Obligations of states and political subdivisions		47,510		—		47,510		—
Residential mortgage-backed securities		139,820		—		139,820		—
Collateralized mortgage obligation securities		41,783		—		41,783		—
Commercial mortgage-backed securities		166,813		—		154,490		12,323
Corporate debt securities		7,700		—		—		7,700
Total investment securities, available-for-sale		766,016		—		745,993		20,023
Commercial loans, at fair value		589,143		—		—		589,143
Interest rate swaps, asset		408		—		408		—
	$	1,355,567	$	—	$	746,401	$	609,166

Fair Value, Measurements, Nonrecurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets Measured At Fair Value On A Recurring And Nonrecurring Basis


			Fair Value Measurements at Reporting Date Using
			Quoted prices in active		Significant other		Significant
			markets for identical		observable		unobservable
	Fair value		assets		inputs		inputs⁽¹⁾
Description	December 31, 2023		(Level 1)		(Level 2)		(Level 3)

Collateral dependent loans⁽¹⁾	$	8,944	$	—	$	—	$	8,944
OREO		16,949		—		—		16,949
Intangible assets		1,651		—		—		1,651
	$	27,544	$	—	$	—	$	27,544


			Fair Value Measurements at Reporting Date Using
			Quoted prices in active		Significant other		Significant
			markets for identical		observable		unobservable
	Fair value		assets		inputs		inputs⁽¹⁾
Description	December 31, 2022		(Level 1)		(Level 2)		(Level 3)


Collateral dependent loans⁽¹⁾	$	12,205	$	—	$	—	$	12,205
OREO		21,210		—		—		21,210
Intangible assets		2,049		—		—		2,049
	$	35,464	$	—	$	—	$	35,464

⁽¹⁾The method of valuation approach for the loans evaluated for an ACL on an individual loan basis and also for OREO was the market approach based upon appraisals of the underlying collateral by external appraisers, reduced by 7% to 10% for estimated selling costs. Intangible assets are valued based upon internal analyses.