Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2021	Jul. 31, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-35913
Entity Registrant Name	TRISTATE CAPITAL HOLDINGS, INC.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	20-4929029
Entity Address, Address Line One	One Oxford Centre
Entity Address, Address Line Two	301 Grant Street, Suite 2700
Entity Address, City or Town	Pittsburgh,
Entity Address, State or Province	PA
City Area Code	(412)
Local Phone Number	304-0304
Entity Address, Postal Zip Code	15219
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,156,729
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Document Fiscal Year End Date	--12-31
Entity Central Index Key	0001380846
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	TSC
Security Exchange Name	NASDAQ
Series A depositary share
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of 6.75% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock
Trading Symbol	TSCAP
Security Exchange Name	NASDAQ
Series B depositary share
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock
Trading Symbol	TSCBP
Security Exchange Name	NASDAQ

Unaudited Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash	$ 341	$ 341
Interest-earning deposits with other institutions	518,002	429,639
Federal funds sold	11,110	5,462
Cash and cash equivalents	529,453	435,442
Debt securities available-for-sale, at fair value	311,129	617,570
Debt securities held-to-maturity, at amortized cost, net	1,014,712	211,691
Federal Home Loan Bank stock	11,817	13,284
Total investment securities	1,337,658	842,545
Loans and leases held-for-investment	9,282,922	8,237,418
Allowance for credit losses on loans and leases	(32,577)	(34,630)
Loans and leases held-for-investment, net	9,250,345	8,202,788
Accrued interest receivable	19,814	18,783
Investment management fees receivable, net	8,580	7,935
Goodwill	41,660	41,660
Intangible assets, net of accumulated amortization of $13,336 and $12,381, respectively	21,295	22,251
Office properties and equipment, net of accumulated depreciation of $17,622 and $16,241, respectively	15,398	12,369
Operating lease right-of-use asset	22,416	21,294
Bank owned life insurance	97,695	71,787
Prepaid expenses and other assets	196,858	219,962
Total assets	11,541,172	9,896,816
Liabilities:
Deposits	10,191,433	8,489,089
Borrowings, net	345,600	400,493
Accrued interest payable on deposits and borrowings	1,832	3,057
Deferred tax liability, net	6,815	5,676
Operating lease liability	23,959	22,958
Other accrued expenses and other liabilities	176,965	218,398
Total liabilities	10,746,604	9,139,671
Shareholders’ Equity:
Common stock voting, no par value; Shares authorized - 45,000,000; Shares issued - 35,553,911 and 34,919,572, respectively; Shares outstanding - 33,176,934 and 32,620,150, respectively	332,307	331,098
Additional paid-in capital	38,496	33,824
Retained earnings	282,898	254,054
Accumulated other comprehensive loss, net	(632)	(2,697)
Treasury stock (2,376,977 and 2,299,422 shares, respectively)	(37,844)	(36,277)
Total shareholders’ equity	794,568	757,145
Total liabilities and shareholders’ equity	11,541,172	9,896,816
Series A preferred stock
Shareholders’ Equity:
Preferred stock, no par value; Shares authorized - 150,000; Series A Shares issued and outstanding - 40,250 and 40,250, respectively, Series B Shares issued and outstanding - 80,500 and 80,500, respectively	38,468	38,468
Series B preferred stock
Shareholders’ Equity:
Preferred stock, no par value; Shares authorized - 150,000; Series A Shares issued and outstanding - 40,250 and 40,250, respectively, Series B Shares issued and outstanding - 80,500 and 80,500, respectively	77,611	77,611
Series C preferred stock
Shareholders’ Equity:
Preferred stock, no par value; Shares authorized - 150,000; Series A Shares issued and outstanding - 40,250 and 40,250, respectively, Series B Shares issued and outstanding - 80,500 and 80,500, respectively	63,264	61,064
Nonvoting Common Stock
Shareholders’ Equity:
Common stock voting, no par value; Shares authorized - 45,000,000; Shares issued - 35,553,911 and 34,919,572, respectively; Shares outstanding - 33,176,934 and 32,620,150, respectively	$ 0	$ 0

Unaudited Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accumulated amortization	$ 13,336	$ 12,381
Accumulated depreciation	$ 17,622	$ 16,241
Shares Authorized, Common Stock (in shares)	47,770,083	47,770,083
Shares Issued, Common Stock (in shares)	35,553,911	34,919,572
Shares Outstanding, Common Stock (in shares)	33,176,934	32,620,150
Treasury Stock (in shares)	2,376,977	2,299,422
Series A preferred stock
Shares Authorized, Preferred Stock (in shares)	150,000	150,000
Shares Issued, Preferred Stock (in shares)	40,250	40,250
Shares Outstanding, Preferred Stock (in shares)	40,250	40,250
Series B preferred stock
Shares Issued, Preferred Stock (in shares)	80,500	80,500
Shares Outstanding, Preferred Stock (in shares)	80,500	80,500
Series C preferred stock
Shares Issued, Preferred Stock (in shares)	661	650
Shares Outstanding, Preferred Stock (in shares)	661	650
Nonvoting Common Stock
Shares Authorized, Common Stock (in shares)	6,653,347	6,653,347
Shares Issued, Common Stock (in shares)	0	0

Unaudited Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest income:
Loans and leases	$ 51,702	$ 47,377	$ 100,888	$ 106,295
Investments	3,737	3,940	6,383	7,841
Interest-earning deposits	116	344	276	1,727
Total interest income	55,555	51,661	107,547	115,863
Interest expense:
Deposits	10,106	15,953	20,860	43,197
Borrowings	2,537	2,224	5,119	4,260
Total interest expense	12,643	18,177	25,979	47,457
Net interest income	42,912	33,484	81,568	68,406
Provision for credit losses	96	6,005	320	8,998
Net interest income after provision for credit losses	42,816	27,479	81,248	59,408
Non-interest income:
Net gain on the sale and call of debt securities	98	14	97	71
Bank owned life insurance income	480	429	909	857
Other income	13	186	883	374
Total non-interest income	14,844	12,997	28,495	26,313
Non-interest expense:
Compensation and employee benefits	20,937	16,569	40,858	34,015
Premises and equipment expense	1,173	1,515	2,579	2,901
Professional fees	2,124	1,109	3,448	2,579
FDIC insurance expense	1,125	2,560	2,250	4,730
General insurance expense	341	278	639	540
State capital shares tax expense	777	366	1,427	749
Travel and entertainment expense	639	279	1,080	1,143
Technology and data services	3,687	2,414	6,787	4,717
Intangible amortization expense	478	486	956	988
Marketing and advertising	898	686	1,582	1,300
Other operating expenses	2,246	1,834	4,097	3,578
Total non-interest expense	34,425	28,096	65,703	57,240
Income before tax	23,235	12,380	44,040	28,481
Income tax expense	4,455	1,979	9,060	5,185
Net income	18,780	10,401	34,980	23,296
Preferred stock dividends	3,077	1,962	6,136	3,924
Net income available to common shareholders	$ 15,703	$ 8,439	$ 28,844	$ 19,372
Earnings per common share:
Basic (in usd per share)	$ 0.42	$ 0.30	$ 0.78	$ 0.69
Diluted (in usd per share)	$ 0.41	$ 0.30	$ 0.76	$ 0.68
Investment management fees
Non-interest income:
Total non-interest income	$ 9,451	$ 7,738	$ 18,451	$ 15,376
Service charges on deposits
Non-interest income:
Total non-interest income	325	315	641	528
Swap fees
Non-interest income:
Total non-interest income	3,913	3,853	6,624	8,226
Commitment and other loan fees
Non-interest income:
Total non-interest income	$ 564	$ 462	$ 890	$ 881

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 18,780	$ 10,401	$ 34,980	$ 23,296
Other comprehensive income (loss):
Unrealized holding gains (losses) on debt securities, net of tax expense (benefit) of $88, $2,791, $(216) and $(206), respectively	273	8,375	(681)	(1,048)
Reclassification adjustment for losses (gains) included in net income on debt securities, net of tax benefit (expense) of $24, $(2), $23 and $(5), respectively	75	(5)	74	(16)
Unrealized holding gains (losses) on derivatives, net of tax expense (benefit) of $(98), $(379), $466 and $(2,223), respectively	(311)	(1,200)	1,372	(7,067)
Reclassification adjustment for losses included in net income on derivatives, net of tax benefit of $209, $111, $413 and $150, respectively	658	349	1,300	469
Other comprehensive income (loss), net of tax	695	7,519	2,065	(7,662)
Total comprehensive income	19,475	17,920	37,045	15,634
Tax expense (benefit) on unrealized holding gains (losses) on debt securities	$ (88)	$ (2,791)	$ (216)	$ 206

Unaudited Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Tax expense (benefit) on unrealized holding gains (losses) on debt securities	$ (88)	$ (2,791)	$ (216)	$ 206
Tax benefit (expense) on debt securities losses (gains) reclassified from other comprehensive income	24	(2)	24	(5)
Tax expense (benefit) on unrealized holding gains (losses) on derivatives	(98)	(379)	466	(2,223)
Tax benefit (expense) on derivative losses (gains) reclassified from other comprehensive income	$ 209	$ 111	$ 413	$ 150

Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in-Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss), Net	Treasury Stock
Beginning balance at Dec. 31, 2019	$ 621,281	$ 116,079	$ 295,349	$ 23,095	$ 218,449	$ 1,132	$ (32,823)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,296				23,296
Other comprehensive income (loss)	(7,662)					(7,662)
Preferred stock dividends	(3,924)		0	0	(3,924)
Exercise of stock options	211		471	(260)			0
Purchase of treasury stock	(2,734)				0		(2,734)
Treasury stock reissuance	110				(25)		135
Cancellation of stock options	(2,484)			(2,484)
Stock-based compensation	4,737			4,737
Ending balance at Jun. 30, 2020	632,831	116,079	295,820	25,088	237,796	(6,530)	(35,422)
Beginning balance at Mar. 31, 2020	614,380	116,079	295,587	22,783	229,382	(14,049)	(35,402)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,401				10,401
Other comprehensive income (loss)	7,519					7,519
Preferred stock dividends	(1,962)	0			(1,962)
Exercise of stock options	120		233	(113)	0
Purchase of treasury stock	(155)		0	0			(155)
Treasury stock reissuance	110				(25)		135
Stock-based compensation	2,418			2,418
Ending balance at Jun. 30, 2020	632,831	116,079	295,820	25,088	237,796	(6,530)	(35,422)
Beginning balance at Dec. 31, 2020	757,145	177,143	331,098	33,824	254,054	(2,697)	(36,277)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	34,980				34,980
Other comprehensive income (loss)	2,065					2,065
Preferred stock dividends	(3,936)	2,200			(6,136)
Exercise of stock options	487		1,209	(722)
Purchase of treasury stock	(1,567)						(1,567)
Stock-based compensation	5,394			5,394
Ending balance at Jun. 30, 2021	794,568	179,343	332,307	38,496	282,898	(632)	(37,844)
Beginning balance at Mar. 31, 2021	774,286	178,243	332,070	35,853	267,195	(1,327)	(37,748)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,780				18,780
Other comprehensive income (loss)	695					695
Preferred stock dividends	(1,977)	1,100	0	0	(3,077)
Exercise of stock options	92		237	(145)			0
Purchase of treasury stock	(96)				0		(96)
Stock-based compensation	2,788			2,788
Ending balance at Jun. 30, 2021	$ 794,568	$ 179,343	$ 332,307	$ 38,496	$ 282,898	$ (632)	$ (37,844)

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 18,780		$ 10,401	$ 34,980	$ 23,296
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and intangible amortization expense				2,336	2,022
Amortization of deferred financing costs				108	33
Provision for credit losses	96		6,005	320	8,998
Stock-based compensation expense				5,394	4,737
Net gain on the sale or call of debt securities available-for-sale				(97)	(22)
Net gain on the call of debt securities held-to-maturity				0	(49)
Gains from debt securities trading				(105)	(239)
Purchase of debt securities trading				(9,440)	(20,932)
Proceeds from the sale of debt securities trading				9,545	21,171
Net amortization of premiums and discounts on debt securities				6,438	295
Decrease (increase) in investment management fees receivable, net				(645)	653
Decrease (increase) in accrued interest receivable				(1,031)	3,792
Decrease in accrued interest payable				(1,225)	(1,719)
Bank owned life insurance income	(480)		(429)	(909)	(857)
Increase in income taxes payable				4,137	455
Decrease in prepaid income taxes				1,186	3,941
Deferred tax provision				452	482
Decrease in accounts payable and other accrued expenses				(4,999)	(9,388)
Cash received for reimbursement of leasehold improvements				0	2,196
Other, net				(9,152)	(1,701)
Net cash provided by operating activities				37,293	37,164
Cash flows from investing activities:
Purchase of debt securities available-for-sale				(294,277)	(400,451)
Purchase of debt securities held-to-maturity				(481,630)	(287,826)
Proceeds from the sale of debt securities available-for-sale	74,710		6,071	74,710	56,038
Principal repayments and maturities of debt securities available-for-sale				44,104	27,993
Principal repayments and maturities of debt securities held-to-maturity				153,451	248,714
Purchase of bank owned life insurance				(25,000)	0
Investment in low income housing and historic tax credits				(5,487)	(6,194)
Investment in small business investment companies				(582)	(150)
Net redemption of Federal Home Loan Bank stock				1,467	11,043
Net increase in loans and leases				(1,047,956)	(593,041)
Proceeds from the sale of other real estate owned				0	1,527
Additions to office properties and equipment				(4,410)	(2,285)
Net cash used in investing activities				(1,585,610)	(944,632)
Cash flows from financing activities:
Net increase in deposit accounts				1,702,344	1,196,858
Net decrease in Federal Home Loan Bank advances				(50,000)	(55,000)
Net decrease in line of credit advances				(5,000)
Net decrease in line of credit advances					0
Net proceeds from issuance of subordinated notes payable				0	95,518
Net proceeds from exercise of stock options				487	211
Cancellation of stock options				0	(2,484)
Purchase of treasury stock				(1,567)	(2,624)
Dividends paid on preferred stock				(3,936)	(3,924)
Net cash provided by financing activities				1,642,328	1,228,555
Net change in cash and cash equivalents during the period				94,011	321,087
Cash and cash equivalents at beginning of the period		$ 435,442		435,442	403,855	$ 403,855
Cash and cash equivalents at end of the period	$ 529,453		$ 724,942	529,453	724,942	$ 435,442
Cash paid during the period for:
Interest expense				27,096	49,274
Income taxes				3,254	307
Transfer of debt securities available-for-sale to held-to-maturity		$ 480,800		480,769	0
Series C dividend distributable				$ 2,200	$ 0

Basis of Information and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
BASIS OF INFORMATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF INFORMATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATION TriState Capital Holdings, Inc. (“we,” “us,” “our,” the “holding company,” the “parent company,” or the “Company”) is a registered bank holding company pursuant to the Bank Holding Company Act of 1956, as amended. The Company has three wholly owned subsidiaries: TriState Capital Bank, a Pennsylvania-chartered state bank (the “Bank”); Chartwell Investment Partners, LLC, a registered investment adviser (“Chartwell”); and Chartwell TSC Securities Corp., a registered broker-dealer (“CTSC Securities”). The Bank was established to serve the commercial banking needs of middle-market businesses and financial services providers and focused private banking needs of high-net-worth individuals nation-wide. The Bank has two wholly owned subsidiaries: TSC Equipment Finance LLC (“TSC Equipment Finance”), established to hold and manage loans and leases of our equipment finance business, and Meadowood Asset Management, LLC (“Meadowood”), established to hold and manage other real estate owned by the Bank and/or foreclosed properties for the Bank. Chartwell provides investment management services primarily to institutional investors, mutual funds and individual investors. CTSC Securities supports marketing efforts for the proprietary investment products provided by Chartwell, including shares of mutual funds advised and/or administered by Chartwell. The Company and the Bank are subject to regulatory examination and supervision by the Federal Deposit Insurance Corporation (“FDIC”), the Pennsylvania Department of Banking and Securities and the Board of Governors of the Federal Reserve System (“Federal Reserve”). In addition, if the Bank’s consolidated total assets exceed $10 billion for four consecutive quarters, the Company and the Bank will become subject to the regulatory examination and supervision of the Consumer Financial Protection Bureau (“CFPB”) with respect to certain consumer protection laws. The Bank’s quarter-end consolidated assets exceeded $10 billion for two consecutive quarters as of June 30, 2021. Chartwell is a registered investment adviser regulated by the U.S. Securities and Exchange Commission (“SEC”). CTSC Securities is regulated by the SEC and the Financial Industry Regulatory Authority, Inc. (“FINRA”). The Bank conducts business through its main office located in Pittsburgh, Pennsylvania, as well as its four additional representative offices in Cleveland, Ohio; Philadelphia, Pennsylvania; Edison, New Jersey; and New York, New York. Chartwell conducts business through its office located in Berwyn, Pennsylvania, and CTSC Securities conducts business through its office located in Pittsburgh, Pennsylvania. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) in the United States of America requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of related revenues and expenses during the reporting period. Although our current estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be different than those anticipated in the estimates, which could materially affect the financial results of our operations and financial condition. Material estimates that are particularly susceptible to significant changes relate to the determination of the allowance for credit losses on loans and leases, valuation of goodwill and other intangible assets and their evaluation for impairment, fair value measurements and deferred income taxes and their related recoverability, each of which is discussed later in this section. CONSOLIDATION Our consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, the Bank, Chartwell and CTSC Securities, after elimination of inter-company accounts and transactions. The accounts of the Bank, in turn, include its wholly owned subsidiaries, TSC Equipment Finance and Meadowood, after elimination of inter-company accounts and transactions. The unaudited condensed consolidated financial statements of the Company presented herein have been prepared pursuant to SEC rules for Quarterly Reports on Form 10-Q and do not include all of the information and note disclosures required by GAAP for a full year presentation. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying unaudited condensed consolidated financial statements have been included. Interim results are not necessarily reflective of the results of the entire year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company and the related notes for the fiscal year ended December 31, 2020, included in the Company’s Annual Report on Form 10-K filed with the SEC on February 25, 2021. CASH AND CASH EQUIVALENTS For purposes of reporting cash flows, the Company has defined cash and cash equivalents as cash, interest-earning deposits with other institutions, federal funds sold and short-term investments that have an original maturity of 90 days or less. Under agreements with certain of its derivative counterparties, the Company is required to maintain minimum cash collateral posting thresholds with such counterparties. The cash subject to these agreements is considered restricted for these purposes. BUSINESS COMBINATIONS The Company accounts for business combinations using the acquisition method of accounting. Under this method of accounting, the acquired company’s net assets are recorded at fair value as of the date of acquisition, and the results of operations of the acquired company are combined with our results from that date forward. Acquisition costs are expensed when incurred. The difference between the purchase price, which includes an initial measurement of any contingent earn out, and the fair value of the net assets acquired (including identified intangibles) is recorded as goodwill in the consolidated statements of financial condition. A change in the initial estimate of any contingent earn out amount is recorded to non-interest expense in the consolidated statements of income. INVESTMENT SECURITIES The Company’s investments are classified as either: (1) held-to-maturity, which are debt securities that the Company intends to hold until maturity and are reported at amortized cost; (2) trading, which are debt securities bought and held principally for the purpose of selling them in the near term and reported at fair value, with unrealized gains and losses included in non-interest income; (3) available-for-sale, which are debt securities not classified as either held-to-maturity or trading securities and reported at fair value, with unrealized gains and losses reported as a component of accumulated other comprehensive income (loss), on an after-tax basis; or (4) equity securities, which are reported at fair value, with unrealized gains and losses included in non-interest income. The cost of securities sold is determined on a specific identification basis. Amortization of premiums and accretion of discounts are recorded to interest income on investments over the estimated life of the security utilizing the level yield method. Management evaluates expected credit losses on held-to-maturity debt securities on a collective or pool basis, by investment category and credit rating. The Company measures credit losses by comparing the present value of cash flows expected to be collected to the amortized cost basis of the security that considers historical credit loss information, adjusted for current conditions and reasonable and supportable economic forecasts. The Company’s investment securities can be classified into the following pools based on similar risk characteristics: (1) U.S. government agencies, (2) state and local municipalities, (3) domestic corporations, including trust preferred securities, and (4) non-agency securitizations. The Company’s U.S. government agency securities are issued by U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. For the remaining pools of securities, the credit rating of the issuers, the investment’s cash flow characteristics and the underlying instruments securitizing certain bonds are the most relevant risk characteristics of the investment portfolio. The Company’s investment policy only allows for purchases of investments with investment grade credit ratings and the Company continuously monitors for changes in credit ratings. Probability of default and loss given default rates are based on historical averages for each investment pool, adjusted to reflect the impact of a single, forward-looking forecast of certain macroeconomic variables, such as unemployment rates and interest rate spreads, which management considers to be both reasonable and supportable. The forecast of these macroeconomic variables is applied over a period of two years and reverts to historical averages over a three-year reversion period. Management evaluates available-for-sale debt securities in an unrealized loss position quarterly for expected credit losses. Management first determines whether it intends to sell or if it is more likely than not that it will be required to sell the impaired securities. This determination considers current and forecasted liquidity requirements, regulatory and capital requirements, and securities portfolio management. If the Company intends to sell an available-for-sale security with a fair value below amortized cost or if it is more likely than not that it will be required to sell such a security before recovery, the security’s amortized cost is written down to fair value through current period earnings. For available-for-sale debt securities that the Company does not intend to sell or it is more likely than not that it will not be required to sell before recovery, a provision for credit losses is recorded through current period earnings for the amount of the valuation decline below amortized cost that is attributable to credit losses. Management considers the extent to which fair value is less than amortized cost, credit ratings and other factors related to the security in assessing whether credit loss exists. The Company measures credit loss by comparing the present value of cash flows expected to be collected to the amortized cost basis of the security. An allowance for credit losses is recorded by the difference that the present value of cash flows expected to be collected is less than the amortized cost basis, limited by the amount that the fair value is less than the amortized cost basis. The remaining difference between the security’s fair value and amortized cost (that is, the decline in fair value not attributable to credit losses) is recognized in other comprehensive income (loss), in the consolidated statements of comprehensive income and the shareholders’ equity section of the consolidated statements of financial condition, on an after-tax basis. Changes in the allowance for credit losses are recorded as provision for credit losses. Losses are charged against the allowance when management believes the security is uncollectible or management intends to sell or is required to sell the security. The recognition of interest income on a debt security is discontinued when any principal or interest payment becomes 90 days past due, at which time the debt security is placed on non-accrual status. All accrued and unpaid interest on such debt security is then reversed. Accrued interest receivable is excluded from the estimate of expected credit losses. FEDERAL HOME LOAN BANK STOCK The Bank is a member of the Federal Home Loan Bank (“FHLB”) of Pittsburgh. Member institutions are required to invest in FHLB stock. The stock is carried at cost, which approximates its liquidation value, and it is evaluated for impairment based on the ultimate recoverability of the par value. The following matters are considered by management when evaluating the FHLB stock for impairment: the ability of the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB; the impact of legislative and regulatory changes on the institution and its customer base; and the Company’s intent and ability to hold its FHLB stock for the foreseeable future. Management believes the Company’s holdings in the FHLB stock were recoverable at par value as of June 30, 2021 and December 31, 2020. Cash and stock dividends are reported as interest income on investments in the consolidated statements of income. LOANS AND LEASES Loans and leases held-for-investment are stated at amortized cost. Amortized cost is the unpaid principal balance, net of deferred loan fees and costs. Loans held-for-sale are stated at the lower of cost or fair value. Interest income on loans is accrued at the contractual rate on the principal amount outstanding. Deferred loan fees and costs are amortized to interest income over the estimated life of the loan, taking into consideration scheduled payments and prepayments. The Company considers a loan to be a troubled debt restructuring (“TDR”) when there is a concession made to a financially troubled borrower without adequate consideration provided to the Company. The Company evaluates any loan reasonably expected to become a TDR, regardless of whether the loan is on accrual or non-accrual status. Once a loan is deemed to be a TDR, the Company considers whether the loan should be placed on non-accrual status. In assessing accrual status, the Company considers the likelihood that repayment and performance according to the original contractual terms will be achieved, as well as the borrower’s historical payment performance. A loan is designated and reported as a TDR until such loan is either paid off or sold unless the restructuring agreement specifies an interest rate equal to or greater than the rate that would be accepted at the time of the restructuring for a new loan with comparable risk and it is fully expected that the remaining principal and interest will be collected according to the restructured agreement. The recognition of interest income on a loan is discontinued when, in management’s opinion, it is probable the borrower is unable to meet payments as they become due or when the loan becomes 90 days past due, whichever occurs first, at which time the loan is placed on non-accrual status. All accrued and unpaid interest on such loans is then reversed. The interest ultimately collected is applied to reduce principal if there is doubt about the collectability of principal. If a borrower brings a loan current for which accrued interest has been reversed, then the recognition of interest income on the loan is resumed once the loan has been current for a period of six consecutive months or greater. The Company is a party to financial instruments with off-balance sheet risk, such as commitments to extend credit, in the normal course of business to meet the financing needs of its customers. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the lending agreement with such customer. Commitments generally have fixed expiration dates or other termination clauses (e.g., loans due on demand) and may require payment of a fee. Since some of the commitments are expected to expire without being drawn upon, the unfunded commitment amount does not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis using the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The amount of collateral obtained, if deemed necessary by the Company upon extension of a commitment, is based on management’s credit evaluation of the borrower. OTHER REAL ESTATE OWNED Real estate owned, other than bank premises, is recorded at fair value less estimated selling costs. Fair value is determined based on an independent appraisal. Expenses related to holding the property are charged against earnings when incurred. Depreciation is not recorded on other real estate owned (“OREO”) properties. ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of loans and leases to present management’s best estimate of the net amount expected to be collected. Adjustments to the allowance for credit losses are established through provisions for credit losses that are recorded in the consolidated statements of income. Loans and leases are charged off against the allowance for credit losses when management believes that the principal is uncollectible. If, at a later time, amounts are recovered with respect to loans and leases previously charged off, the recovered amount is credited to allowance for credit losses. Accrued interest receivable is excluded from the estimate of expected credit losses. The allowance for credit losses represent estimates of expected credit losses for homogeneous loan pools that share similar risk characteristics such as commercial and industrial (“C&I”) loans and leases, commercial real estate (“CRE”) loans, and private banking loans which include consumer lines of credit and residential mortgages. The Company periodically reassesses each loan pool to ensure that the loans within the pool continue to share similar risk characteristics. Non-accrual loans and loans designated as TDRs are assessed individually using a discounted cash flow method or, where a loan is collateral dependent, based upon the fair value of the collateral less estimated selling costs. The collateral on our private banking loans that is secured by cash, marketable securities and/or cash value life insurance is monitored daily and requires borrowers to continually replenish collateral as a result of fair value changes. Therefore, it is expected that the fair value of the collateral securing each loan will exceed the loan’s amortized cost basis and no allowance for the off-balance sheet exposure would be required under Accounting Standard Codification (“ASC”) 326-20-35-6, “Financial Assets Secured by Collateral Maintenance Provisions.” In estimating the general allowance for credit losses for loans evaluated on a collective or pool basis, management considers past events, current conditions, and reasonable and supportable economic forecasts, including historical charge-offs and subsequent recoveries. Management also considers qualitative factors that influence our credit quality, including, but not limited to, delinquency and non-performing loan trends, changes in loan underwriting guidelines and credit policies, and the results of internal loan reviews. Finally, management considers the impact of changes in current and forecasted local and regional economic conditions in the markets that we serve. Management bases the computation of the general allowance for credit losses on two factors: the primary factor and the secondary factor. The primary factor is based on the inherent risk identified by management within each of the Company’s three loan portfolios based on the historical loss experience of each loan portfolio. Management has developed a methodology that is applied to each of the three primary loan portfolios: C&I loans and leases, CRE loans and private banking loans (other than those secured by cash, marketable securities and/or cash value life insurance). For each portfolio, management estimates expected credit losses over the life of each loan utilizing lifetime or cumulative loss rate methodology, which identifies macroeconomic factors and asset-specific characteristics that are correlated with credit loss experience, including loan age, loan type, leverage, risk rating, interest rate spread and industry. The lifetime loss rate is applied to the amortized cost of the loan. This methodology builds on default and recovery probabilities by utilizing pool-specific historical loss rates to calculate expected credit losses. These pool-specific historical loss rates may be adjusted for a forecast of certain macroeconomic variables, as further discussed below, and other factors such as differences in underwriting standards, portfolio mix, or when historical asset terms do not reflect the contractual terms of the financial assets being evaluated as of the measurement date. Each time the Company measures expected credit losses, the Company assesses the relevancy of historical loss information and considers any necessary adjustments to address any differences in asset-specific characteristics. The allowance for credit losses represents management’s current estimate of expected credit losses in the loan and lease portfolio. Expected credit losses are estimated over the contractual term of the loans, which includes extension or renewal options that are not unconditionally cancellable by the Company and are adjusted for expected prepayments when appropriate. Management’s judgment takes into consideration past events, current conditions and reasonable and supportable economic forecasts including general economic conditions, diversification and seasoning of the loan portfolio, historic loss experience, identified credit problems, delinquency levels and adequacy of collateral. Although management believes it has used the best information available in making such determinations, and that the present allowance for credit losses represents management’s best estimate of current expected credit losses, future adjustments to the allowance may be necessary, and net income may be adversely affected if circumstances differ substantially from the assumptions used in determining the level of the allowance. The lifetime loss rates are estimated by analyzing a combination of internal and external data related to historical performance of each loan pool over a complete economic cycle. Loss rates are based on historical averages for each loan pool, adjusted to reflect the impact of a single, forward-looking forecast of certain macroeconomic variables such as gross domestic product (“GDP”), unemployment rates, corporate bond credit spreads and commercial property values, which management considers to be both reasonable and supportable. The single, forward-looking forecast of these macroeconomic variables is applied over the remaining life of the loan pools. The development of the reasonable and supportable forecast incorporates an assumption that each macroeconomic variable will revert to a long-term expectation starting in years two to four of the forecast and largely completing within the first five years of the forecast. The secondary factor is intended to capture additional risks related to events and circumstances that management believes have an impact on the performance of the loan portfolio that are not considered as part of the primary factor. Although this factor is more subjective in nature, the methodology focuses on internal and external trends in pre-specified categories, or risk factors, and applies a quantitative percentage that drives the secondary factor. Nine risk factors have been identified and each risk factor is assigned an allowance level based on management’s judgment as to the expected impact of each risk factor on each loan portfolio and is monitored on a quarterly basis. As the trend in any risk factor changes, management evaluates the need for a corresponding change to occur in the allowance associated with each respective risk factor to provide the most appropriate estimate of allowance for credit losses on loans and leases. The Company also maintains an allowance for credit losses on off-balance sheet credit exposures for unfunded loan commitments. This allowance is reflected as a component of other liabilities which represents management’s current estimate of expected losses in the unfunded loan commitments. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life based on management’s consideration of past events, current conditions and reasonable and supportable economic forecasts. Management tracks the level and trends in unused commitments and takes into consideration the same factors as those considered for purposes of the allowance for credit losses on outstanding loans. Unconditionally cancellable loans are excluded from the calculation of allowance for credit losses on off-balance sheet credit exposures. Results for the six months ended June 30, 2021 are presented under the current expected credit loss (“CECL”) methodology, in accordance with ASC Topic 326, while prior period amounts continue to be reported in accordance with ASC Topic 450, “Contingencies,” and specific reserves based upon ASC Topic 310, “Receivables.” ASC Topic 450 applies to homogeneous loan pools such as commercial loans, consumer lines of credit and residential mortgages that are not individually evaluated for impairment. ASC Topic 310 is applied to commercial and consumer loans that are individually evaluated for impairment. INVESTMENT MANAGEMENT FEES The Company recognizes investment management fee revenue when advisory services are performed. Fees are based on assets under management and are calculated pursuant to individual client contracts. Investment management fees are generally received on a quarterly basis. Certain incremental costs incurred to acquire some of our investment management contracts are deferred and amortized to non-interest expense over the estimated life of the contract. Investment management fees receivable represent amounts due for contractual investment management services provided to the Company’s clients, primarily institutional investors, mutual funds and individual investors. Management performs credit evaluations of its customers’ financial condition when it is deemed to be necessary and does not require collateral. The Company provides an allowance for uncollectible accounts based on specifically identified receivables. The Company has not experienced any losses on receivables for investment management fees for the six months ended June 30, 2021, and 2020. The Company had no allowance for credit losses on investment management fees as of June 30, 2021 and December 31, 2020. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Goodwill is not amortized and is subject to at least annual assessments for impairment by applying a fair value-based test. The Company reviews goodwill annually and again at any quarter-end if a material event occurs during the quarter that may affect goodwill. If goodwill testing is required, an assessment of qualitative factors can be completed before performing a goodwill impairment test. If an assessment of qualitative factors determines it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, then a goodwill impairment test is not required. Other intangible assets represent purchased assets that may lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. The Company has determined that certain of its acquired mutual fund client relationships meet the criteria to be considered indefinite-lived assets because the Company expects both the renewal of these contracts and the cash flows generated by these assets to continue indefinitely. Accordingly, the Company does not amortize these intangible assets, but instead reviews these assets annually or more frequently whenever events or circumstances occur indicating that the recorded indefinite-lived assets may be impaired. Each reporting period, the Company assesses whether events or circumstances have occurred which indicate that the indefinite life criteria are no longer met. If the indefinite life criteria are no longer met, the Company assesses whether the carrying value of these assets exceeds its fair value. If the carrying value exceeds the fair value of the assets, an impairment loss is recorded in an amount equal to any such excess and the assets are reclassified to finite-lived. Other intangible assets that the Company has determined to have finite lives, such as its trade names, client lists and non-compete agreements are amortized over their estimated useful lives. These finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, which range from four to 25 years. Finite-lived intangibles are evaluated for impairment on an annual basis or more frequently whenever events or circumstances occur indicating that the carrying amount of such assets may not be recoverable. OFFICE PROPERTIES AND EQUIPMENT Office properties and equipment are stated at cost less accumulated depreciation. Office properties include furniture, fixtures and leasehold improvements. Equipment includes computer equipment and internal use software. Depreciation is computed utilizing the straight-line method over the estimated useful lives of the related assets, except for leasehold improvements, which are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Estimated useful lives are dependent upon the nature and condition of the asset and range from three to 10 years. Repairs and maintenance are charged to expense as incurred, while improvements that extend the useful life of the assets are capitalized and depreciated to non-interest expense over the estimated remaining life of the asset. OPERATING LEASES The Company is a lessee in noncancellable operating leases, primarily for its office spaces and other office equipment. The Company accounts for leases in accordance with ASC Topic 842, “Leases,” and records operating leases as a right-of-use asset and an offsetting lease liability in the consolidated statements of financial condition at the present value of the unpaid lease payments. The Company generally uses its incremental borrowing rate as the discount rate for operating leases. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the right-of-use asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. BANK OWNED LIFE INSURANCE Bank owned life insurance (“BOLI”) policies on certain officers and employees are recorded at net cash surrender value on the consolidated statements of financial condition. Upon termination of a BOLI policy, the Company receives the cash surrender value. BOLI benefits are payable to the Company upon the death of the insured. Changes in net cash surrender value are recognized as non-interest income in the consolidated statements of income. DEPOSITS Deposits are stated at principal outstanding. Interest on deposits is accrued and charged to interest expense daily and is paid or credited in accordance with the terms of the respective accounts. BORROWINGS The Company records FHLB advances, line of credit borrowings and subordinated notes payable at their principal amount net of debt issuance costs. Interest expense is recognized based on the coupon rate of the obligations. Costs associated with the acquisition of subordinated notes payable are amortized to interest expense over the expected term of the borrowing. INCOME TAXES The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the tax effects of differences between the financial statement and tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities with regard to a change in tax rates is recognized in income in the period that includes the enactment date. Management assesses all available evidence to determine the amount of deferred tax assets that are more likely than not to be realized. The available evidence used in connection with the assessments includes taxable income in prior periods, projected taxable income, potential tax planning strategies and projected reversals of deferred tax items. These assessments involve a degree of subjectivity and may undergo significant change. Changes to the evidence used in the assessments could have a material adverse effect on the Company’s results of operations in the period in which they occur. The Company considers uncertain tax positions that it has taken or expects to take on a tax return. Any interest and penalties related to unrecognized tax benefits would be recognized in income tax expense in the consolidated statements of income. EARNINGS PER COMMON SHARE Earnings per common share (“EPS”) is computed using the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for common stock and participating securities, according to dividends and participation rights in undistributed earnings. Under this method, net earnings is reduced by the amount of dividends declared in the current period for common shareholders and participating security holders. The remaining earnings or “undistributed earnings” are allocated between common stock and participating securities to the extent that each security may share in earnings as if all the earnings for the period had been distributed. The two-class method requires that the Company’s Series C perpetual non-cumulative convertible non-voting preferred stock (the “Series C Preferred Stock”) and outstanding warrants to be treated as participating classes of securities in the computation of EPS. In addition, net income is reduced by dividends declared on all series of preferred stock to derive net income available to common shareholders. Basic EPS is computed by dividing net income allocable to common shareholders by the weighted average number of the Company’s common shares outstanding for the period, excluding non-vested restricted stock. Diluted EPS reflects the potential dilution upon the exercise of stock options and warrants, and the vesting of restricted stock awards granted utilizing the treasury stock method. STOCK-BASED COMPENSATION The Company accounts for its stock-based compensation awards based on estimated fair values of stock-based awards made to employees and directors. Compensation cost for all stock-based payments is based on the estimated grant-date fair value. The value of the portion of the award that is ultimately expected to vest is included in compensation and employee benefits expense in the consolidated statements of income and recorded as a component of additional paid-in capital. Compensation expense for all awards is recognized on a straight-line basis over the requisite service period for the entire grant. DERIVATIVES AND HEDGING ACTIVITIES All derivatives are evaluated at inception as to whether they are hedging or non-hedging activities. All derivatives are recognized as either assets or liabilities on the consolidated statements of financial condition and measured at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item. For derivatives designated as cash flow hedges, changes in fair value of the effective portion of the cash flow hedges are reported in accumulated other comprehensive income (loss). When the cash flows associated with the hedged item are realized, the gain or loss included in accumulated other comprehensive income (loss) is recognized in the consolidated statements of income. The Company also has interest rate derivative positions that are not designated as hedging instruments. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company is required to have minimum collateral posting thresholds with certain of its derivative counterparties, and this collateral is considered restricted cash. The Company executes interest rate derivatives with its commercial banking customers to facilitate their respective risk management strategies. The Company generates swap fee income through these transactions. These derivatives are simultaneously and economically hedged by offsetting derivatives that the Company executes with a third party, such that the Company generally eliminates its interest rate exposure resulting from such transactions and these derivatives are not designated as hedging instruments. Swap fees are based on the notional amount and weighted maturity of each individual transaction and are collected and recorded to non-interest income in the consolidated statements of income when the transaction is executed. FAIR VALUE MEASUREMENT Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability in a principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date, using assumptions market participants would use when pricing such an asset or liability. An orderly transaction assumes exposure to the market for a customary period for marketing activities prior to the measurement date and not a forced liquidation or distressed sale. Fair value measurement and disclosure guidance provides a three-level hierarchy that prioritizes the inputs of valuation techniques used to measure fair value into three broad categories: •Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities. •Level 2 – Observable inputs such as quoted prices for similar assets and liabilities in active markets, quoted prices for similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. •Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies, and similar techniques that use significant unobservable inputs. Fair value must be recorded for certain assets and liabilities every reporting period on a recurring basis or, under certain circumstances, on a non-recurring basis. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Unrealized holding gains and the non-credit component of unrealized losses on the Company’s debt securities available-for-sale are included in accumulated other comprehensive income (loss), net of applicable income taxes. Also included in accumulated other comprehensive income (loss) is the remaining unamortized balance of the unrealized holding gains (non-credit losses), net of applicable income taxes, that existed on the transfer date for debt securities reclassified into the held-to-maturity category from the available-for-sale category. Unrealized holding gains (losses) on the effective portion of the Company’s cash flow hedge derivatives are included in accumulated other comprehensive income (loss), net of applicable income taxes, which will be reclassified to interest expense as interest payments are made on the Company’s debt. Income tax effects in accumulated other comprehensive income (loss) are released as investments are sold or mature and as liabilities are extinguished. TREASURY STOCK The repurchase of the Company’s common stock is recorded at cost. At the time of reissuance, the treasury stock account is reduced using the average cost method. Gains and losses on the reissuance of common stock are recorded in additional paid-in capital, to the extent additional paid-in capital from any previous net gains on treasury share transactions exists. Any net deficiency is charged to retained earnings. RECLASSIFICATION Certain items previously reported have been reclassified to conform with the current year’s reporting presentation and are considered immaterial.

Investment Securities

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

INVESTMENT SECURITIES

Debt securities available-for-sale and held-to-maturity were comprised of the following as of June 30, 2021:


	June 30, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Allowance for Credit Losses (1)		Estimated Fair Value
Debt securities available-for-sale:

Corporate bonds	$	135,853	$	1,606	$	289	$	—	$	137,170
Residential mortgage-backed securities	97,572		78		99		—		97,551


Trust preferred securities	18,300		312		186		—		18,426
Agency collateralized mortgage obligations	19,050		86		—		—		19,136
Agency mortgage-backed securities	25,263		30		1		—		25,292
Agency debentures	7,598		748		—		—		8,346
Municipal bonds	5,204		4		—		—		5,208
Total debt securities available-for-sale	$	308,840	$	2,864	$	575	$	—	$	311,129

(1)Available-for-sale securities are recorded on the consolidated statements of financial condition at estimated fair value, net of allowance for credit losses, if applicable.


	June 30, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Estimated Fair Value		Allowance for Credit Losses (1)
Debt securities held-to-maturity:
Corporate bonds	$	30,670	$	1,051	$	27	31,694		$	47
Agency debentures	129,998		816		11		130,803		—
Municipal bonds	4,778		10		—		4,788		—
Residential mortgage-backed securities	230,913		285		1,710		229,488		23
Agency mortgage-backed securities	579,374		798		5,480		574,692		—
U.S. treasury notes	39,049		29		409		38,669		—
Total debt securities held-to-maturity	$	1,014,782	$	2,989	$	7,637	$	1,010,134	$	70

(1)Held-to-maturity securities are recorded on the consolidated statements of financial condition at amortized cost, net of allowance for credit losses.

During the first quarter of 2021, the Company transferred $480.8 million fair value of previously designated available-for-sale agency mortgage-backed securities to held-to-maturity designation.

Debt securities available-for-sale and held-to-maturity were comprised of the following as of December 31, 2020:


	December 31, 2020
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Allowance for Credit Losses (1)	Estimated Fair Value
Debt securities available-for-sale:

Corporate bonds	$	157,452	$	1,538	$	526	—	$	158,464
Trust preferred securities	18,228		57		198		—	18,087


Agency collateralized mortgage obligations	22,058		36		5		—	22,089
Agency mortgage-backed securities	406,741		3,595		209		—	410,127
Agency debentures	8,013		790		—		—	8,803
Total debt securities available-for-sale	$	612,492	$	6,016	$	938	—	$	617,570

(1)Available-for-sale securities are recorded on the consolidated statements of financial condition at estimated fair value, net of allowance for credit losses, if applicable.


	December 31, 2020
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Estimated Fair Value		Allowance for Credit Losses (1)










Debt securities held-to-maturity:
Corporate bonds	$	28,672	$	566	$	1	$	29,237	$	79
Agency debentures	48,130		1,051		—		49,181		—
Municipal bonds	6,577		45		—		6,622		—
Residential mortgage-backed securities	124,152		237		217		124,172		70
Agency mortgage-backed securities	4,309		778		—		5,087		—
Total debt securities held-to-maturity	$	211,840	$	2,677	$	218	$	214,299	$	149

(1)Held-to-maturity securities are recorded on the consolidated statements of financial condition at amortized cost, net of allowance for credit losses.

Interest income on investment securities was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020
Taxable interest income	$	3,552	$	3,609	$	5,990	$	7,001
Non-taxable interest income	31		26		57		137
Dividend income	154		305		336		703
Total interest income on investment securities	$	3,737	$	3,940	$	6,383	$	7,841

As of June 30, 2021, the contractual maturities of the debt securities were:


	June 30, 2021
	Available-for-Sale				Held-to-Maturity
(Dollars in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in less than one year	$	27,499	$	27,622	$	1,911	$	1,915
Due from one to five years	46,189		46,953		14,287		14,814
Due from five to ten years	71,638		72,292		198,863		199,664
Due after ten years	163,514		164,262		799,721		793,741
Total debt securities	$	308,840	$	311,129	$	1,014,782	$	1,010,134

The $164.3 million fair value of debt securities available-for-sale with a contractual maturity due after 10 years as of June 30, 2021, included $29.2 million, or 17.8%, that are floating-rate securities. The $198.9 million amortized cost of debt securities held-to-maturity with a contractual maturity due from five to 10 years as of June 30, 2021, included $19.3 million that have call provisions within the next five years that would either mature, if called, or become floating-rate securities after the call date.

Prepayments may shorten the contractual lives of the collateralized mortgage obligations, mortgage-backed securities and collateralized loan obligations.

Proceeds from the sale and call of debt securities available-for-sale and held-to-maturity and related gross realized gains and losses were:


	Available-for-Sale				Held-to-Maturity				Available-for-Sale				Held-to-Maturity
	Three Months Ended June 30,				Three Months Ended June 30,				Six Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020		2021		2020		2021		2020
Proceeds from sales	$	74,710	$	6,071	$	—	$	—	$	74,710	$	56,038	$	—	$	—
Proceeds from calls	1,000		3,580		40,000		125,405		13,000		3,580		43,555		247,758
Total proceeds	$	75,710	$	9,651	$	40,000	$	125,405	$	87,710	$	59,618	$	43,555	$	247,758

Gross realized gains	$	98	$	6	$	—	$	8	$	98	$	21	$	—	$	50
Gross realized losses	—		—		—		—		1		—		—		—
Net realized gains	$	98	$	6	$	—	$	8	$	97	$	21	$	—	$	50

Debt securities available-for-sale of $2.2 million as of June 30, 2021, were held in safekeeping at the FHLB and were included in the calculation of the Company’s borrowing capacity. Additionally, there were $38.7 million of debt securities held-to-maturity that were pledged as collateral for certain deposit relationships.

The following tables show a roll-forward of the allowance for credit losses on held-to-maturity securities for the three and six months ended June 30, 2021:


	Three Months Ended June 30, 2021
(Dollars in thousands)	Corporate bonds		Residential mortgage-backed securities		Municipal bonds		Agency debentures and mortgage-backed securities		U.S. treasury notes		Total
Balance, beginning of period	$	55	$	105	$	—	$	—	$	—	$	160

Provision (credit)	(8)		(82)		—		—		—		(90)
Charge-offs	—		—		—		—		—		—
Recoveries	—		—		—		—		—		—
Balance, end of period	$	47	$	23	$	—	$	—	$	—	$	70


	Six Months Ended June 30, 2021
(Dollars in thousands)	Corporate bonds		Residential mortgage-backed securities		Municipal bonds		Agency debentures and mortgage-backed securities		U.S. treasury notes		Total
Balance, beginning of period	$	79	$	70	$	—	$	—	$	—	$	149

Provision (credit)	(32)		(47)		—		—		—		(79)
Charge-offs	—		—		—		—		—		—
Recoveries	—		—		—		—		—		—
Balance, end of period	$	47	$	23	$	—	$	—	$	—	$	70

The following tables show the fair value and gross unrealized losses on debt securities available-for-sale, by investment category and length of time that the individual securities have been in a continuous unrealized loss position as of June 30, 2021 and December 31, 2020:


	June 30, 2021
	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Debt securities available-for-sale:

Corporate bonds	$	9,531	$	93	$	9,804	$	196	$	19,335	$	289
Residential mortgage-backed securities	57,494		99		—		—		57,494		99


Trust preferred securities	—		—		4,304		186		4,304		186

Agency mortgage-backed securities	—		—		92		1		92		1


Total debt securities available-for-sale (1)	$	67,025	$	192	$	14,200	$	383	$	81,225	$	575

(1)The number of investment positions with unrealized losses totaled 11 for available-for-sale securities.


	December 31, 2020
	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Debt securities available-for-sale:

Corporate bonds	$	28,796	$	277	$	9,751	$	249	$	38,547	$	526
Trust preferred securities	13,313		198		—		—		13,313		198


Agency collateralized mortgage obligations	—		—		9,863		5		9,863		5
Agency mortgage-backed securities	89,931		209		—		—		89,931		209

Total debt securities available-for-sale (1)	$	132,040	$	684	$	19,614	$	254	$	151,654	$	938

(1)The number of investment positions with unrealized losses totaled 33 for available-for-sale securities.

The changes in the fair values of our agency collateralized mortgage obligations and agency mortgage-backed securities are primarily the result of interest rate fluctuations. These agency securities are either explicitly or implicitly guaranteed by the U.S. government, highly rated, and have a long history of no credit losses. To assess for credit losses on debt securities available-for-sale in unrealized loss position, management evaluates the underlying issuer’s financial performance and the related credit rating information through a review of publicly available financial statements and other publicly available information. The most recent assessment for credit

losses did not identify any issues related to the ultimate repayment of principal and interest on these debt securities. In addition, the Company has the ability and intent to hold debt securities in an unrealized loss position until recovery of their amortized cost. Based on this, no allowance for credit losses has been recognized on debt securities available-for-sale in an unrealized loss position.

The Company monitors the credit quality of debt securities held-to-maturity including credit ratings quarterly. The following tables present the amortized costs basis of debt securities held-to-maturity by Moody’s bond credit rating.


	June 30, 2021
(Dollars in thousands)	Aaa		Aa		A		Baa		Ba		Total
Debt securities held-to-maturity:
Corporate bonds	$	—	$	—	$	—	$	30,670	$	—	$	30,670
Agency debentures	129,998		—		—		—		—		129,998
Municipal bonds	—		3,988		790		—		—		4,778
Residential mortgage-backed securities	230,913		—		—		—		—		230,913
Agency mortgage-backed securities	579,374		—		—		—		—		579,374
U.S. treasury notes	39,049		—		—		—		—		39,049
Total debt securities held-to-maturity	$	979,334	$	3,988	$	790	$	30,670	$	—	$	1,014,782

Accrued interest receivable of $2.0 million and $697,000 on debt securities held-to-maturity as of June 30, 2021 and December 31, 2020, respectively, was excluded from the amortized cost used in the allowance for credit losses. The Company had no debt securities held-to-maturity that were past due as of June 30, 2021.

There were no outstanding debt securities classified as trading as of June 30, 2021 and December 31, 2020.

There was $11.8 million and $13.3 million in FHLB stock outstanding as of June 30, 2021 and December 31, 2020, respectively.

Loans and Leases

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

LOANS AND LEASES

The Company generates loans through the private banking and middle-market banking channels. The private banking channel primarily includes loans made to high-net-worth individuals, trusts and businesses that are typically secured by cash, marketable securities and/or cash value life insurance. The middle-market banking channel consists of the Company’s C&I loan and lease portfolio and CRE loan portfolio, which serve middle-market businesses and real estate developers in our primary markets.

Loans and leases held-for-investment were comprised of the following:


	June 30, 2021
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Loans and leases held-for-investment, before deferred fees and costs	$	5,701,419	$	1,236,054	$	2,334,051	$	9,271,524
Net deferred loan costs (fees)	12,143		4,863		(5,608)		11,398
Loans and leases held-for-investment, net of deferred fees and costs	5,713,562		1,240,917		2,328,443		9,282,922
Allowance for credit losses on loans and leases	(2,107)		(8,969)		(21,501)		(32,577)
Loans and leases held-for-investment, net	$	5,711,455	$	1,231,948	$	2,306,942	$	9,250,345


	December 31, 2020
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Loans and leases held-for-investment, before deferred fees and costs	$	4,797,881	$	1,269,248	$	2,160,784	$	8,227,913
Net deferred loan costs (fees)	9,919		4,904		(5,318)		9,505
Loans and leases held-for-investment, net of deferred fees and costs	4,807,800		1,274,152		2,155,466		8,237,418
Allowance for credit losses on loans and leases	(2,047)		(5,254)		(27,329)		(34,630)
Loans and leases held-for-investment, net	$	4,805,753	$	1,268,898	$	2,128,137	$	8,202,788

The Company’s customers have unused loan commitments based on the availability of eligible collateral or other terms and conditions under their loan agreements. Included in unused loan commitments are unused availability under demand loans for our private

banking lines secured by cash, marketable securities and/or cash value life insurance, as well as commitments to fund loans secured by residential properties, commercial real estate, construction loans, business lines of credit and other unused commitments of loans in various stages of funding. Not all commitments will fund or fully fund as customers often only draw on a portion of their available credit. The amount of unfunded commitments, including standby letters of credit, as of June 30, 2021 and December 31, 2020, was $8.51 billion and $6.73 billion, respectively. The interest rate for each commitment is based on the prevailing market conditions at the time of funding. The total unfunded commitments above included loans in the process of origination totaling approximately $48.0 million and $39.6 million as of June 30, 2021 and December 31, 2020, respectively, which extend over varying periods of time.

The Company issues standby letters of credit in the normal course of business. Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party. The Company would be required to perform under a standby letter of credit when drawn upon by the guaranteed party in the case of non-performance by the Company’s customer. Collateral may be obtained based on management’s credit assessment of the customer. The amount of unfunded commitments related to standby letters of credit as of June 30, 2021 and December 31, 2020, included in the total unfunded commitments above, was $74.7 million and $82.0 million, respectively. Should the Company be obligated to perform under any standby letters of credit, the Company will seek repayment from the customer for amounts paid. During the six months ended June 30, 2021 and 2020, there were draws on letters of credit totaling $5,000 and $45,000, respectively, which were repaid by the borrowers. Most of these commitments are expected to expire without being drawn upon and the total amount does not necessarily represent future cash requirements.

The allowance for credit losses on off-balance-sheet credit exposures was $3.0 million and $3.4 million as of June 30, 2021 and December 31, 2020, respectively, which includes allowance for credit losses on unfunded loan commitments and standby letters of credit. The Company recorded a credit to provision on off-balance sheet exposures as liabilities of $364,000 and provision expense of $396,000 for the six months ended June 30, 2021 and 2020, respectively.

Allowance for Credit Losses on Loans and Leases

6 Months Ended

Jun. 30, 2021

Allowance for Credit Losses and Leases [Abstract]

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES

Our allowance for credit losses represents our current estimate of expected credit losses in the portfolio at a specific point in time. This estimate includes credit losses associated with loans and leases evaluated on a collective or pool basis, as well as expected credit losses of the individually evaluated loans and leases that do not share similar risk characteristics. Management evaluates the adequacy of the allowance at least quarterly, and in doing so relies on various factors including, but not limited to, assessment of historical loss experience, delinquency and non-accrual trends, portfolio growth, underlying collateral coverage and current economic conditions, and economic forecasts over a reasonable and supportable period of time. This evaluation is subjective and requires material estimates that may change over time. The calculation of the allowance for credit losses on loans and leases takes into consideration the inherent risk identified within each of the Company’s three primary loan portfolios. The lifetime loss rates are estimated by analyzing a combination of internal and external data related to historical performance of each loan pool over a complete economic cycle. Results for the six months ended June 30, 2021, are presented under CECL methodology while prior period amounts continue to be reported in accordance with previously applicable GAAP. Refer to Note 1, Summary of Significant Accounting Policies, to our unaudited condensed consolidated financial statements for more details on the Company’s policy on allowance for credit losses on loans and leases.

The following discusses key characteristics and risks within each primary loan portfolio:

Private Banking Loans

Our private banking lending business is conducted on a national basis. This loan portfolio primarily includes loans made to high-net-worth individuals, trusts and businesses that are typically secured by marketable securities, cash, and/or cash value life insurance. The Company actively monitors the value of the collateral securing these loans on a daily basis and requires borrowers to continually replenish collateral as a result of fair value changes. Therefore, it is expected that the fair value of the collateral value securing each loan will exceed the loan’s amortized cost basis and no allowance for credit loss is required under ASC 326-20-35-6, “Financial Assets Secured by Collateral Maintenance Provisions.”

This portfolio also has some loans that are secured by residential real estate or other financial assets and unsecured loans. The primary sources of repayment for these loans are the income and/or assets of the borrower. The underlying collateral is the most important indicator of risk for this loan portfolio. The overall lower risk profile of this portfolio is driven by loans secured by cash, marketable securities and/or cash value life insurance, which were 98.7% and 98.6% of total private banking loans as of June 30, 2021 and December 31, 2020, respectively.

Commercial Banking: Commercial and Industrial Loans and Leases

This loan and lease portfolio primarily include loans and leases made to financial services and other service and/or manufacturing companies generally for the purposes of financing production, operating capacity, accounts receivable, inventory, equipment,

acquisitions and/or recapitalizations. Cash flow from the borrower’s operations is the primary source of repayment for these loans and leases; however, most loans are collateralized by marketable securities or commercial assets.

The borrower’s industry and local and regional economic conditions are important indicators of risk for this loan portfolio. Collateral for these types of loans at times does not have sufficient value in a distressed or liquidation scenario to satisfy the outstanding debt. C&I loans collateralized by marketable securities are treated the same as private banking loans for purposes of the calculation of the allowance for credit losses on loans and leases.

Commercial Banking: Commercial Real Estate Loans

This loan portfolio includes loans secured by commercial purpose real estate, including both owner-occupied properties and investment properties for various purposes including office, industrial, multifamily, retail, hospitality, healthcare and self-storage. The primary source of repayment for CRE loans secured by owner-occupied properties is cash flow from the borrower’s operations. Individual project cash flows, global cash flows and liquidity from the developer, or the sale of the property are the primary sources of repayment for CRE loans secured by investment properties. Also included are commercial construction loans to finance the construction or renovation of structures as well as to finance the acquisition and development of raw land for various purposes. The increased level of risk for these loans is generally confined to the construction period. If problems arise, the project may not be completed and as such, may not provide sufficient cash flow on its own to service the debt or have sufficient value in a liquidation to cover the outstanding principal.

The underlying purpose and collateral of the loans are important indicators of risk for this loan portfolio. Additional risks exist and are dependent on several factors such as the condition of the local and regional economies, whether or not the project is owner-occupied, the type of project, and the experience and resources of the developer.

On a monthly basis, management monitors various credit quality indicators for the loan portfolio, including delinquency, non-performing status, changes in risk ratings, changes in the underlying performance of the borrowers and other relevant factors. On a daily basis, the Company monitors the collateral of loans secured by cash, marketable securities and/or cash value life insurance within the private banking portfolio which further reduces the risk profile of that portfolio. Refer to Note 1, Summary of Significant Accounting Policies, to our unaudited condensed consolidated financial statements for the Company’s policy for determining past due status of loans.

Loan risk ratings are assigned based upon the creditworthiness of the borrower and the quality of the collateral for loans secured by marketable securities. Loan risk ratings are reviewed on an ongoing basis according to internal policies and applicable regulatory guidance. Loans within the pass rating are believed to have a lower risk of loss than loans that are risk rated as special mention, substandard or doubtful, which are believed to have an increasing risk of loss. Management also monitors the loan portfolio through a formal periodic review process. All non-pass rated loans are reviewed monthly and higher risk-rated loans within the pass category are reviewed three times a year.

The Company’s risk ratings are consistent with regulatory guidance and are as follows:

Pass – A pass loan is currently performing in accordance with its contractual terms.

Special Mention – A special mention loan has potential weaknesses that warrant management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects or in our credit position at some future date. Economic and market conditions beyond the customer’s control may in the future necessitate this classification.

Substandard – A substandard loan is not adequately protected by the net worth and/or paying capacity of the obligor or by the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. These loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.

Doubtful – A doubtful loan has all the weaknesses inherent in a loan categorized as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable.

The following table presents the amortized cost basis of loans by portfolio, risk rating and year of origination:


	As of June 30, 2021
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans (1)		Total
Private Banking:
Pass	$	21,999	$	60,956	$	32,371	$	54,986	$	7,213	$	54,610	$	5,480,937	$	5,713,072
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		—		490		—		—		—		—		490
Doubtful	—		—		—		—		—		—		—		—
Total Private Banking Loans	21,999		60,956		32,861		54,986		7,213		54,610		5,480,937		5,713,562
Commercial and Industrial:
Pass	93,243		201,555		219,185		69,098		40,412		27,868		575,213		1,226,574
Special Mention	—		1,653		—		—		—		—		3,941		5,594
Substandard	—		—		—		—		—		—		124		124
Doubtful	—		750		—		7,875		—		—		—		8,625
Total Commercial and Industrial Loans	93,243		203,958		219,185		76,973		40,412		27,868		579,278		1,240,917
Commercial Real Estate:
Pass	254,610		549,228		572,712		404,876		200,338		299,341		28,100		2,309,205
Special Mention	—		—		—		—		—		2,409		—		2,409
Substandard	—		198		5,395		26		2,399		8,811		—		16,829
Doubtful	—		—		—		—		—		—		—		—
Total Commercial Real Estate Loans	254,610		549,426		578,107		404,902		202,737		310,561		28,100		2,328,443
Loans and leases held-for-investment	$	369,852	$	814,340	$	830,153	$	536,861	$	250,362	$	393,039	$	6,088,315	$	9,282,922

(1)The Company had no revolving loans which were converted to term loans included in loans and leases held-for-investment at June 30, 2021.


	As of December 31, 2020
(Dollars in thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans (1)		Total
Private Banking:
Pass	$	64,829	$	44,210	$	57,081	$	7,736	$	12,040	$	55,092	$	4,566,296	$	4,807,284
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		516		—		—		—		—		—		516
Doubtful	—		—		—		—		—		—		—		—
Total Private Banking Loans	64,829		44,726		57,081		7,736		12,040		55,092		4,566,296		4,807,800
Commercial and Industrial:
Pass	216,459		223,189		88,212		44,575		9,383		20,709		651,900		1,254,427
Special Mention	1,795		—		5,416		—		—		—		3,431		10,642
Substandard	750		—		7,875		—		—		—		458		9,083
Doubtful	—		—		—		—		—		—		—		—
Total Commercial and Industrial Loans	219,004		223,189		101,503		44,575		9,383		20,709		655,789		1,274,152
Commercial Real Estate:
Pass	514,920		617,120		435,708		202,001		181,108		134,700		38,802		2,124,359
Special Mention	446		5,395		4,308		—		1,186		145		—		11,480
Substandard	91		—		6,296		2,926		7,054		3,260		—		19,627
Doubtful	—		—		—		—		—		—		—		—
Total Commercial Real Estate Loans	515,457		622,515		446,312		204,927		189,348		138,105		38,802		2,155,466
Loans and leases held-for-investment	$	799,290	$	890,430	$	604,896	$	257,238	$	210,771	$	213,906	$	5,260,887	$	8,237,418

(1)The Company had no revolving loans which were converted to term loans included in loans and leases held-for-investment at December 31, 2020.

Accrued interest receivable of $16.6 million and $16.4 million on loans and leases as of June 30, 2021 and December 31, 2020, respectively, was excluded from the amortized cost used in the allowance for credit losses.

Changes in the allowance for credit losses on loans and leases were as follows for the three and six months ended June 30, 2021 and 2020:


	Three Months Ended June 30, 2021
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Balance, beginning of period	$	1,767	$	8,156	$	24,721	$	34,644
Provision (credit) for credit losses	340		700		(854)		186
Charge-offs	—		—		(2,366)		(2,366)
Recoveries	—		113		—		113
Balance, end of period	$	2,107	$	8,969	$	21,501	$	32,577


	Three Months Ended June 30, 2020
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Balance, beginning of period	$	2,174	$	6,685	$	8,445	$	17,304
Provision for credit losses	148		723		5,134		6,005
Charge-offs	(171)		—		—		(171)
Recoveries	—		138		—		138
Balance, end of period	$	2,151	$	7,546	$	13,579	$	23,276


	Six Months Ended June 30, 2021
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Balance, beginning of period	$	2,047	$	5,254	$	27,329	$	34,630
Provision (credit) for credit losses	60		3,801		(3,462)		399
Charge-offs	—		(199)		(2,366)		(2,565)
Recoveries	—		113		—		113
Balance, end of period	$	2,107	$	8,969	$	21,501	$	32,577


	Six Months Ended June 30, 2020
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Balance, beginning of period	$	1,973	$	5,262	$	6,873	$	14,108
Provision for credit losses	349		1,943		6,706		8,998
Charge-offs	(171)		—		—		(171)
Recoveries	—		341		—		341
Balance, end of period	$	2,151	$	7,546	$	13,579	$	23,276

The following tables present the age analysis of past due loans and leases segregated by class:


	June 30, 2021
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total
Private banking	$	425	$	—	$	43	$	468	$	5,713,094	$	5,713,562
Commercial and industrial	—		—		8,749		8,749		1,232,168		1,240,917
Commercial real estate	2,399		—		26		2,425		2,326,018		2,328,443
Loans and leases held-for-investment	$	2,824	$	—	$	8,818	$	11,642	$	9,271,280	$	9,282,922


	December 31, 2020
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total
Private banking	$	250	$	—	$	—	$	250	$	4,807,550	$	4,807,800
Commercial and industrial	—		—		458		458		1,273,694		1,274,152
Commercial real estate	2,926		—		6,296		9,222		2,146,244		2,155,466
Loans and leases held-for-investment	$	3,176	$	—	$	6,754	$	9,930	$	8,227,488	$	8,237,418

Individually Evaluated Loans

Management monitors the delinquency status of the Company’s loan portfolio on a monthly basis. Loans are considered non-performing when interest and principal are 90 days or more past due or management has determined that it is probable the borrower is unable to meet payments as they become due. The risk of loss is generally highest for non-performing loans.

The following tables present the Company’s amortized cost basis of individually evaluated loans and related information on those loans for the six months ended June 30, 2021 and 2020:


	As of and for the Six Months Ended June 30, 2021
(Dollars in thousands)	Amortized Cost		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With a related allowance recorded:
Private banking	$	—	$	—	$	—	$	—	$	—
Commercial and industrial	8,750		8,748		5,297		9,028		—
Commercial real estate	2,425		4,637		289		9,176		—
Total with a related allowance recorded	11,175		13,385		5,586		18,204		—
Without a related allowance recorded:
Private banking	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
Commercial real estate	—		—		—		—		—
Total without a related allowance recorded	—		—		—		—		—
Total:
Private banking	—		—		—		—		—
Commercial and industrial	8,750		8,748		5,297		9,028		—
Commercial real estate	2,425		4,637		289		9,176		—
Total	$	11,175	$	13,385	$	5,586	$	18,204	$	—


	As of and for the Twelve Months Ended December 31, 2020
(Dollars in thousands)	Amortized Cost		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With a related allowance recorded:
Private banking	$	—	$	—	$	—	$	—	$	—
Commercial and industrial	458		457		103		458		—
Commercial real estate	9,222		9,251		1,885		9,222		—
Total with a related allowance recorded	9,680		9,708		1,988		9,680		—
Without a related allowance recorded:
Private banking	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
Commercial real estate	—		—		—		—		—
Total without a related allowance recorded	—		—		—		—		—
Total:
Private banking	—		—		—		—		—
Commercial and industrial	458		457		103		458		—
Commercial real estate	9,222		9,251		1,885		9,222		—
Total	$	9,680	$	9,708	$	1,988	$	9,680	$	—

Individually evaluated loans were $11.2 million and $9.7 million as of June 30, 2021 and December 31, 2020, respectively. There was no interest income recognized on individually evaluated loans that were also on non-accrual status for the six months ended June 30, 2021, and the twelve months ended December 31, 2020. As of June 30, 2021, there was a loan for $43,000 that was 90 days or more past due and still accruing interest income, which was fully secured. As of December 31, 2020, there were no loans 90 days or more past due and still accruing interest income.

The Company estimates allowance for credit losses individually for loans that do not share similar risk characteristics, including non-accrual loans and loans designated as TDRs, using a discounted cash flow method or based on the fair value of the collateral less estimated selling costs. Based on those evaluations, there were specific reserves totaling $5.6 million and $2.0 million as of June 30, 2021 and December 31, 2020, respectively. Refer to Note 1, Summary of Significant Accounting Policies, to our unaudited condensed consolidated financial statements for the Company’s policy on evaluating loans for expected credit losses and interest income.

The following tables present the allowance for credit losses on loans and leases and amortized costs basis of individually evaluated loans:


	June 30, 2021
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Allowance for credit losses on loans and leases:
Individually evaluated for impairment	$	—	$	5,297	$	289	$	5,586
Collectively evaluated for impairment	2,107		3,672		21,212		26,991
Total allowance for credit losses on loans and leases	$	2,107	$	8,969	$	21,501	$	32,577
Loans and leases held-for-investment:
Individually evaluated for impairment	$	—	$	8,750	$	2,425	$	11,175
Collectively evaluated for impairment	5,713,562		1,232,167		2,326,018		9,271,747
Loans and leases held-for-investment	$	5,713,562	$	1,240,917	$	2,328,443	$	9,282,922


	December 31, 2020
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Allowance for credit losses on loans and leases:
Individually evaluated for impairment	$	—	$	103	$	1,885	$	1,988
Collectively evaluated for impairment	2,047		5,151		25,444		32,642
Total allowance for credit losses on loans and leases	$	2,047	$	5,254	$	27,329	$	34,630
Loans and leases held-for-investment:
Individually evaluated for impairment	$	—	$	458	$	9,222	$	9,680
Collectively evaluated for impairment	4,807,800		1,273,694		2,146,244		8,227,738
Loans and leases held-for-investment	$	4,807,800	$	1,274,152	$	2,155,466	$	8,237,418

Troubled Debt Restructuring

The aggregate recorded investment of impaired loans with terms modified through a troubled debt restructuring was $2.4 million and $2.9 million as of June 30, 2021 and December 31, 2020, respectively, which were also on non-accrual status. There were no unused commitments on loans designated as TDRs as of June 30, 2021 and December 31, 2020, respectively.

The modifications made to restructured loans typically consist of an extension of the payment terms or the deferral of principal payments. There were no loans modified as TDRs within 12 months of the corresponding balance sheet date with payment defaults during the six months ended June 30, 2021 and 2020.

There were no loans newly designated as TDRs during the three months ended June 30, 2021. The financial effects of our modifications made to loans newly designated as TDRs during the six months ended June 30, 2021, were as follows:


	Six Months Ended June 30, 2021
(Dollars in thousands)	Count	Recorded Investment at the time of Modification		Current Recorded Investment		Allowance for Credit Losses on Loans and Leases at the time of Modification		Current Allowance for Credit Losses on Loans and Leases
Commercial Real Estate:
Extended term, deferred principal	2	$	4,454	$	—	$	445	$	—
Total	2	$	4,454	$	—	$	445	$	—

There were no loans newly designated as TDRs during the three and six months ended June 30, 2020.

Other Real Estate Owned

As of June 30, 2021 and December 31, 2020, the balance of OREO was $2.6 million and $2.7 million, respectively. The change in the OREO balance from December 31, 2020 was attributable to a $155,000 write-down on an OREO property. There were no residential mortgage loans that were in the process of foreclosure as of June 30, 2021.

Deposits

6 Months Ended

Jun. 30, 2021

Deposits [Abstract]

DEPOSITS

As of June 30, 2021 and December 31, 2020, deposits were comprised of the following:


	Interest Rate Range	Weighted Average Interest Rate		Balance
(Dollars in thousands)	June 30, 2021	June 30, 2021	December 31, 2020	June 30, 2021		December 31, 2020
Demand and savings accounts:
Noninterest-bearing checking accounts	—	—	—	$	513,529	$	456,426
Interest-bearing checking accounts	0.05 to 1.70%	0.37%	0.38%	4,371,659		3,068,834
Money market deposit accounts	0.09 to 3.25%	0.48%	0.56%	4,383,597		3,927,797
Total demand and savings accounts				9,268,785		7,453,057
Certificates of deposit	0.02 to 3.22%	0.48%	1.08%	922,648		1,036,032
Total deposits				$	10,191,433	$	8,489,089
Weighted average rate on interest-bearing accounts		0.43%	0.56%

As of June 30, 2021 and December 31, 2020, the Bank had total brokered deposits of $1.07 billion and $753.3 million, respectively. Reciprocal deposits through Certificate of Deposit Account Registry Service® (“CDARS®”) and Insured Cash Sweep® (“ICS®”) totaled $2.01 billion and $1.72 billion as of June 30, 2021 and December 31, 2020, respectively, and were not considered brokered deposits.

As of June 30, 2021 and December 31, 2020, certificates of deposit with balances of $100,000 or more, excluding brokered and reciprocal deposits, totaled $570.8 million and $534.3 million, respectively. As of June 30, 2021 and December 31, 2020, certificates of deposit with balances of $250,000 or more, excluding brokered and reciprocal deposits, totaled $174.3 million and $159.6 million.

The contractual maturity of certificates of deposit was as follows:


(Dollars in thousands)	June 30, 2021		December 31, 2020
12 months or less	$	752,274	$	892,427
12 months to 24 months	150,995		132,443
24 months to 36 months	19,379		11,162



Total	$	922,648	$	1,036,032

Interest expense on deposits was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020
Interest-bearing checking accounts	$	3,214	$	2,719	$	6,008	$	7,933
Money market deposit accounts	5,636		7,377		11,600		22,031
Certificates of deposit	1,256		5,857		3,252		13,233
Total interest expense on deposits	$	10,106	$	15,953	$	20,860	$	43,197

Borrowings

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

BORROWINGS

As of June 30, 2021 and December 31, 2020, borrowings were comprised of the following:


	June 30, 2021				December 31, 2020
(Dollars in thousands)	Interest Rate	Ending Balance		Maturity Date	Interest Rate	Ending Balance		Maturity Date
FHLB borrowings:

Issued 6/21/2021	0.32%	$	50,000	9/20/2021	—%	$	—
Issued 6/2/2021	0.29%	50,000		9/2/2021	—%	—
Issued 6/1/2021	0.29%	150,000		9/1/2021	—%	—
Issued 12/21/2020	—%	—			0.39%	50,000		3/22/2021
Issued 12/2/2020	—%	—			0.33%	50,000		3/2/2021
Issued 12/1/2020	—%	—			0.33%	150,000		3/1/2021
Issued 10/8/2020	—%	—			0.39%	50,000		1/8/2021
Line of credit borrowings	—%	—			4.25%	5,000		10/17/2021
Subordinated notes payable (net of debt issuance costs of $1,900 and $2,007, respectively)	5.75%	95,600		5/15/2030	5.75%	95,493		5/15/2030
Total borrowings, net		$	345,600			$	400,493

In 2020, the Company completed underwritten public offerings of subordinated notes due 2030, raising aggregate proceeds of $97.5 million. The subordinated notes have a term of 10 years at a fixed-to-floating rate of 5.75%. The subordinated notes constitute Tier 2 capital for the Company under federal regulatory capital rules.

The Bank’s FHLB borrowing capacity is based on the collateral value of certain securities held in safekeeping at the FHLB and loans pledged to the FHLB. The Bank submits a quarterly Qualifying Collateral Report (“QCR”) to the FHLB to update the value of the loans pledged. As of June 30, 2021, the Bank’s borrowing capacity is based on the information provided in its March 31, 2021 QCR filing. As of June 30, 2021, the Bank had securities held in safekeeping at the FHLB with a fair value of $2.2 million, combined with pledged loans of $1.37 billion, for a gross borrowing capacity of $977.3 million, of which $250.0 million was outstanding in advances. As of December 31, 2020, there was $300.0 million outstanding in advances from the FHLB. When the Bank borrows from the FHLB, interest is charged at the FHLB’s posted rates at the time of the borrowing.

The Bank maintains an unsecured line of credit of $10.0 million with M&T Bank and an unsecured line of credit of $20.0 million with Texas Capital Bank. As of June 30, 2021 and December 31, 2020, there were no outstanding borrowings under these lines of credit, and they are available to the Bank at the lenders’ discretion. In addition, the Bank maintains an $8.0 million unsecured line of credit with PNC Bank for private label credit card facilities for certain existing commercial clients of the Bank, of which $3.2 million in notional value of credit cards have been issued. The clients of the Bank are responsible for repaying any balances due on these credit cards directly to PNC; however, if the customer fails to repay PNC, the Bank could be required to satisfy the obligation to PNC and initiate collection from its customer as part of the existing credit facility of that customer.

The Company maintains an unsecured line of credit of $75.0 million with The Huntington National Bank. As of June 30, 2021, there was no outstanding balance under this line of credit. As of December 31, 2020, the Company held an unsecured line of credit of $75.0 million with Texas Capital Bank and had $5.0 million in outstanding borrowings under this line of credit. The Company repaid these borrowings at Texas Capital Bank and subsequently terminated this line of credit on February 18, 2021.

Interest expense on borrowings was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020
FHLB borrowings	$	1,082	$	1,284	$	2,154	$	3,319
Line of credit borrowings	—		260		55		261
Subordinated notes payable	1,455		680		2,910		680
Total interest expense on borrowings	$	2,537	$	2,224	$	5,119	$	4,260

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Stock Transactions

6 Months Ended

Jun. 30, 2021

Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]

STOCK TRANSACTIONS

On December 30, 2020, the Company completed the private placement of securities pursuant to an Investment Agreement, dated October 10, 2020 and amended December 9, 2020, with T-VIII PubOpps LP (“T-VIII PubOpps”), an affiliate of investment funds managed by Stone Point Capital LLC. Pursuant to the Investment Agreement, the Company sold to T-VIII PubOpps (i) 2,770,083 shares of voting common stock for $40.0 million, (ii) 650 shares of Series C Preferred Stock for $65.0 million, and (iii) warrants to purchase up to 922,438 shares of voting common stock, or non-voting common stock at an exercise price of $17.50 per share. After two years, the Series C Preferred Stock is convertible into shares of non-voting common stock or, when transferred under certain limited circumstances to a holder other than an affiliate of Stone Point Capital LLC, voting common stock, at a price of 13.75 per share. The Series C Preferred Stock has a liquidation preference of $100,000 per share, and pays a quarterly dividend at an annualized rate of 6.75%. The Company received gross proceeds of $105.0 million at closing, and may receive up to an additional $16.1 million if the warrants are exercised in full. The net proceeds were recorded to shareholders’ equity at December 31, 2020 and allocated to the three equity instruments issued using the relative fair value method applied to common stock, preferred stock, and warrants issued, which were recorded to additional paid-in capital. The net proceeds constitute Tier 1 capital for the Company under federal regulatory capital rules.

During the six months ended June 30, 2021, the Company paid dividends of $3.9 million on its 6.75% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock, no par value (the “Series A Preferred Stock”) and its 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock, no par value (the “Series B Preferred Stock”), and dividends on its Series C Preferred Stock of 11 shares of Series C Preferred Stock, paid in kind, and cash paid in lieu of a fractional share. During the six months ended June 30, 2020, the Company paid dividends of $3.9 million on its Series A Preferred Stock and Series B Preferred Stock.

Under authorization by the Board of Directors of the Company (“Board”), the Company is permitted to repurchase its common stock up to prescribed amounts, of which $9.8 million remained available as of June 30, 2021. The Board also authorized the Company to utilize some of the share repurchase program authorizations to cancel certain options to purchase shares of its common stock granted by the Company.

During the six months ended June 30, 2021, treasury shares increased 77,555, or approximately $1.6 million, in connection with the net settlement of equity awards exercised or vested. During the six months ended June 30, 2020, the Company repurchased 40,000 shares of common stock for approximately $670,000, at an average cost of $16.76 per share, which shares are held as treasury stock. In addition to the shares purchased in the market, treasury shares increased 83,988, or approximately $2.1 million, in connection with the net settlement of equity awards exercised or vested during the six months ended June 30, 2020.

Under prior authorization of the Board, stock option cancellation programs were approved to allow for certain outstanding and vested stock option awards to be canceled by the option holder at a price based on the closing day’s stock price less the option exercise price. During the six months ended June 30, 2020, there were 212,447 options canceled for approximately $2.5 million, which was recorded as a reduction to additional paid-in capital.

The tables below show the changes in the Company’s preferred and common shares outstanding during the periods indicated:


	Number of Preferred Shares Outstanding	Number of Common Shares Outstanding	Number of Treasury Shares
Balance, December 31, 2019	120,750	29,355,986	2,126,422


Issuance of restricted common stock	—	597,070	—
Forfeitures of restricted common stock	—	(11,018)	—
Exercise of stock options	—	25,000	—
Purchase of treasury stock	—	(40,000)	40,000
Increase in treasury stock related to equity awards	—	(83,988)	83,988
Reissuance of treasury stock	—	8,500	(8,500)
Balance, June 30, 2020	120,750	29,851,550	2,241,910

Balance, December 31, 2020	121,400	32,620,150	2,299,422


Issuance of restricted common stock	—	595,386	—
Forfeitures of restricted common stock	—	(10,547)	—
Preferred stock dividend	11	—	—
Exercise of stock options	—	49,500	—

Increase in treasury stock related to equity awards	—	(77,555)	77,555

Balance, June 30, 2021	121,411	33,176,934	2,376,977

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Regulatory Capital

6 Months Ended

Jun. 30, 2021

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

REGULATORY CAPITAL

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weighting and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the tables below) of Common Equity Tier 1 (“CET 1”) capital, capital Tier 1 and Total capital (each as defined in the regulations) to risk-weighted assets (as defined in the regulations), and of Tier 1 capital to average assets (as defined in the regulations). As of June 30, 2021 and December 31, 2020, TriState Capital Holdings, Inc. and TriState Capital Bank exceeded all capital adequacy requirements to which they were subject.

Insured depository institutions are categorized as well capitalized if they meet minimum capital ratios as set forth in the tables below. The Bank exceeded the capital ratios necessary to be well capitalized under the regulatory framework for prompt corrective action. There have been no conditions or events since the filing of the most recent Call Report for the period ending June 30, 2021 that management believes have materially changed the Bank’s capital, as presented in the tables below.

A banking organization is also subject to certain limitations on capital distributions and discretionary bonus payments to executive officers if the organization does not maintain the necessary capital conservation buffer of CET 1 capital to risk-weighted assets ratio of 2.5% or more, in addition to the minimum risk-based capital adequacy levels shown in the tables below. Both the Company and the Bank were above the levels required to avoid limitations on capital distributions and discretionary bonus payments.

In 2020, U.S. federal regulatory authorities issued a final rule that provides banking organizations that adopt CECL during the 2020 calendar year with the option to delay the impact of CECL on regulatory capital for up to two years, beginning January 1, 2020, followed by a three-year transition period. The Company elected to utilize the two-year delay of CECL’s impact on its regulatory capital, from January 1, 2020 through December 31, 2021, followed by the three-year transition period of CECL impact on regulatory capital, from January 1, 2022 through December 31, 2024.

The following tables set forth certain information concerning the Company’s and the Bank’s regulatory capital as of June 30, 2021 and December 31, 2020:


	June 30, 2021
	Actual				For Capital Adequacy Purposes				To be Well Capitalized Under Prompt Corrective Action Provisions
(Dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
Total risk-based capital ratio
Company	$	868,225	13.94	%	$	498,423	8.00	%	N/A		N/A
Bank	$	823,458	13.26	%	$	496,642	8.00	%	$	620,802	10.00	%
Tier 1 risk-based capital ratio
Company	$	743,882	11.94	%	$	373,817	6.00	%	N/A		N/A
Bank	$	794,715	12.80	%	$	372,481	6.00	%	$	496,642	8.00	%
Common equity tier 1 risk-based capital ratio
Company	$	564,539	9.06	%	$	280,363	4.50	%	N/A		N/A
Bank	$	794,715	12.80	%	$	279,361	4.50	%	$	403,521	6.50	%
Tier 1 leverage ratio
Company	$	743,882	6.86	%	$	433,567	4.00	%	N/A		N/A
Bank	$	794,715	7.34	%	$	432,885	4.00	%	$	541,106	5.00	%


	December 31, 2020
	Actual				For Capital Adequacy Purposes				To be Well Capitalized Under Prompt Corrective Action Provisions
(Dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
Total risk-based capital ratio
Company	$	833,819	14.12	%	$	472,267	8.00	%	N/A		N/A
Bank	$	789,273	13.41	%	$	470,820	8.00	%	$	588,525	10.00	%
Tier 1 risk-based capital ratio
Company	$	707,711	11.99	%	$	354,200	6.00	%	N/A		N/A
Bank	$	758,658	12.89	%	$	353,115	6.00	%	$	470,820	8.00	%
Common equity tier 1 risk-based capital ratio
Company	$	530,568	8.99	%	$	265,650	4.50	%	N/A		N/A
Bank	$	758,658	12.89	%	$	264,836	4.50	%	$	382,542	6.50	%
Tier 1 leverage ratio
Company	$	707,711	7.29	%	$	388,408	4.00	%	N/A		N/A
Bank	$	758,658	7.83	%	$	387,626	4.00	%	$	484,533	5.00	%

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Earnings Per Common Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

The computation of basic and diluted earnings per common share for the periods presented were as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
(Dollars in thousands, except per share data)	2021		2020			2021		2020

Basic earnings per common share:
Net income	$	18,780	$	10,401		$	34,980	$	23,296
Less: Preferred dividends on Series A and Series B	$	1,962	$	1,962		3,924		3,924
Less: Preferred dividends on Series C	$	1,115	$	—		2,212		—
Net income available to common shareholders	$	15,703	$	8,439		$	28,844	$	19,372

Allocation of net income available:
Common shareholders	$	13,272	$	8,439		$	24,375	$	19,372
Series C convertible preferred shareholders	$	2,040	$	—		3,749		—
Warrant shareholders	$	391	$	—		720		—
Total	$	15,703	$	8,439		$	28,844	$	19,372

Basic weighted average common shares outstanding:
Basic common shares	31,280,481		28,223,085			31,252,632		28,201,837
Series C convertible preferred stock, as-if converted	4,807,272		—			4,807,272		—
Warrants, as-if exercised	922,438		—			922,438		—

Basic earnings per common share	$	0.42	$	0.30		$	0.78	$	0.69

Diluted earnings per common share:
Income available to common shareholders after allocation	$	13,272	$	8,439		$	24,375	$	19,372

Diluted weighted average common shares outstanding:
Basic common shares	31,280,481		28,223,085			31,252,632		28,201,837
Restricted stock - dilutive	719,504		221,456			871,255		324,498
Stock options - dilutive	147,773		83,420			154,395		161,469
Diluted common shares	32,147,758		28,527,961			32,278,282		28,687,804

Diluted earnings per common share	$	0.41	$	0.30		$	0.76	$	0.68

	Three Months Ended June 30,					Six Months Ended June 30,
Anti-dilutive shares:	2021		2020			2021		2020
Restricted stock	10,750		864,246			12,000		566,498
Stock options	—		5,500			—		—
Series C convertible preferred stock, as-if converted	4,807,272		—			4,807,272		—
Warrants, as-if exercised	922,438		—			922,438		—
Total anti-dilutive shares	5,740,460		869,746		869746	5,741,710		566,498

The Series C convertible preferred stock and warrants are anti-dilutive under the treasury stock method compared to the basic EPS calculation under the two-class method.

Derivatives and Hedging Activity

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES AND HEDGING ACTIVITY

RISK MANAGEMENT OBJECTIVE OF USING DERIVATIVES

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources, and duration of its debt funding and through the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash payments related to certain of the Company’s FHLB borrowings and to manage the volatility of the change in fair value related to certain of the Company’s equity investments. The Company also has derivatives that are a result of a service the Company provides to certain qualifying customers.

When providing this service, the Company generally enters into an offsetting derivative transaction in order to eliminate its interest rate risk exposure resulting from such transactions.

FAIR VALUES OF DERIVATIVE INSTRUMENTS ON THE STATEMENTS OF FINANCIAL CONDITION

The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the unaudited condensed consolidated statements of financial condition as of June 30, 2021 and December 31, 2020:

Asset Derivatives

Liability Derivatives

as of June 30, 2021

(Dollars in thousands)

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate products

Other assets

$

218

Other liabilities

$

5,554

Derivatives not designated as hedging instruments:

Interest rate products

Other assets

109,156

Other liabilities

109,215

Total

Other assets

$

109,374

Other liabilities

$

114,769

Asset Derivatives

Liability Derivatives

as of December 31, 2020

(Dollars in thousands)

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate products

Other assets

$

—

Other liabilities

$

9,082

Derivatives not designated as hedging instruments:

Interest rate products

Other assets

144,333

Other liabilities

144,351

Total

Other assets

$

144,333

Other liabilities

$

153,433

The following tables show the impact legally enforceable master netting agreements had on the Company’s derivative financial instruments as of June 30, 2021 and December 31, 2020:


	Offsetting of Derivative Assets
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position				Net Amount

(Dollars in thousands)							Financial Instruments		Cash Collateral Received
June 30, 2021	$	109,374	$	—	$	109,374	$	(8,179)	$	—	$	101,195

December 31, 2020	$	144,333	$	—	$	144,333	$	(94)	$	—	$	144,239


	Offsetting of Derivative Liabilities
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position				Net Amount

(Dollars in thousands)							Financial Instruments		Cash Collateral Posted
June 30, 2021	$	114,769	$	—	$	114,769	$	(8,179)	$	(95,293)	$	11,297

December 31, 2020	$	153,433	$	—	$	153,433	$	(94)	$	(150,238)	$	3,101

CASH FLOW HEDGES OF INTEREST RATE RISK

The Company’s objectives in using certain interest rate derivatives are to add stability to net interest income and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. The Company has entered into derivative contracts to hedge the variable cash flows associated with certain FHLB borrowings. These interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company effectively making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.

The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. The Company’s cash flow hedge derivatives did not have any hedge ineffectiveness recognized in earnings during the six months ended June 30, 2021.

Characteristics of the Company’s interest rate derivative transactions designated as cash flow hedges of interest rate risk as of June 30, 2021, were as follows:


(Dollars in thousands)	Notional Amount		Effective Rate (1)	Estimated Increase/ (Decrease) to Interest Expense in the Next Twelve Months		Maturity Date	Remaining Term (in Months)
Interest rate products:

Issued 5/30/2019	$	50,000	2.05%	$	871	6/1/2022	11
Issued 5/30/2019	50,000		2.03%	938		6/1/2023	23
Issued 5/30/2019	50,000		2.04%	944		6/1/2024	35
Issued 3/2/2020	50,000		0.98%	406		3/2/2025	44
Issued 3/20/2020	50,000		0.60%	214		3/20/2025	45
Total	$	250,000		$	3,373

(1)The effective rate is adjusted for the difference between the three-month FHLB advance rate and three-month LIBOR.

The tables below present the effective portion of the Company’s cash flow hedge instruments in the unaudited condensed consolidated statements of income and accumulated other comprehensive income (loss):


		Three Months Ended June 30,				Three Months Ended June 30,
(Dollars in thousands)		2021		2020		2021		2020
Derivatives designated as hedging instruments:	Location of Gain (Loss) Recognized in Income on Derivatives	Realized Gain (Loss) Recognized in Income on Derivatives				Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income on Derivatives
Interest rate products	Interest expense	$	(867)	$	(460)	$	(409)	$	(1,578)


		Six Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)		2021		2020		2021		2020
Derivatives designated as hedging instruments:	Location of Gain (Loss) Recognized in Income on Derivatives	Realized Gain (Loss) Recognized in Income on Derivatives				Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income on Derivatives
Interest rate products	Interest expense	$	(1,713)	$	(619)	$	1,807	$	(9,290)

NON-DESIGNATED HEDGES

The Company does not use derivatives for trading or speculative purposes. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate derivatives with its commercial banking customers to facilitate their respective risk management strategies. Those derivatives are simultaneously and economically hedged by offsetting derivatives that the Company executes with a third party, such that the Company generally eliminates its interest rate exposure resulting from such transactions. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. As of June 30, 2021, the Company had interest rate derivative transactions with an aggregate notional amount of $4.33 billion related to this program.

The table below presents the effect of the Company’s non-designated hedge instruments in the unaudited condensed consolidated statements of income:


		Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)		2021		2020		2021		2020
Derivatives not designated as hedging instruments:	Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives				Amount of Gain (Loss) Recognized in Income on Derivatives
Interest rate products	Non-interest income	$	(8)	$	(4)	$	23	$	(66)

CREDIT-RISK-RELATED CONTINGENT FEATURES

The Company has agreements with each of its derivative counterparties that contain a provision where, if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations.

The Company has agreements with certain of its derivative counterparties that contain a provision where, if either the Company or the counterparty fails to maintain its status as a well capitalized or adequately capitalized institution, then the Company or the counterparty could be required to terminate any outstanding derivative positions and settle its obligations under the agreement.

As of June 30, 2021, the termination value of derivatives for which the Company had master netting arrangements with the counterparty and in a net liability position was $95.6 million, including accrued interest. As of June 30, 2021, the Company has minimum collateral posting thresholds with certain of its derivative counterparties and has posted collateral of $100.9 million which is considered restricted cash. If the Company had breached any of these provisions as of June 30, 2021, it could have been required to settle its obligations under the agreements at their termination value.

Disclosures About Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value estimates of financial instruments are based on the present value of expected future cash flows, quoted market prices of similar financial instruments, if available, and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions and risk assumptions used. Therefore, fair value estimates may not be substantiated by comparison to independent markets and are not intended to reflect the proceeds that may be realized in an immediate settlement of instruments. Accordingly, the aggregate fair value amounts presented below do not represent the underlying value of the Company.

FAIR VALUE MEASUREMENTS

In accordance with U.S. GAAP, the Company must account for certain financial assets and liabilities at fair value on a recurring and non-recurring basis. The Company utilizes a three-level fair value hierarchy of valuation techniques to estimate the fair value of its financial assets and liabilities based on whether the inputs to those valuation techniques are observable or unobservable. The fair value hierarchy gives the highest priority to quoted prices with readily available independent data in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable market inputs (Level 3). When various inputs for measurement fall within multiple levels of the fair value hierarchy, the lowest level input that has a significant impact on fair value measurement is used.

Financial assets and liabilities are categorized based upon the following characteristics or inputs to the valuation techniques:

•Level 1 – Financial assets and liabilities for which inputs are observable and are obtained from reliable quoted prices for identical assets or liabilities in actively traded markets. This is the most reliable fair value measurement and includes, for example, active exchange-traded equity securities.

•Level 2 – Financial assets and liabilities for which values are based on quoted prices in markets that are not active or for which values are based on similar assets or liabilities that are actively traded. Level 2 also includes pricing models in which the inputs are corroborated by market data, for example, matrix pricing.

•Level 3 – Financial assets and liabilities for which values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Level 3 inputs include assumptions of a source independent of the reporting entity or the reporting entity’s own assumptions that are supported by little or no market activity or observable inputs.

The Company is responsible for the valuation process and as part of this process may use data from outside sources in establishing fair value. The Company performs due diligence to understand the inputs used or how the data was calculated or derived and corroborates the reasonableness of external inputs in the valuation process.

RECURRING FAIR VALUE MEASUREMENTS

The following tables represent assets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020:


	June 30, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Total Assets / Liabilities at Fair Value
Financial assets:
Debt securities available-for-sale:

Corporate bonds	$	—	$	137,170	$	—	$	137,170
Residential mortgage-backed securities	—		97,551		—		97,551
Trust preferred securities	—		18,426		—		18,426
Agency collateralized mortgage obligations	—		19,136		—		19,136
Agency mortgage-backed securities	—		25,292		—		25,292
Agency debentures	—		8,346		—		8,346
Municipal bonds	—		5,208		—		5,208

Interest rate swaps	—		109,374		—		109,374

Total financial assets	—		420,503		—		420,503

Financial liabilities:
Interest rate swaps	—		114,769		—		114,769


Total financial liabilities	$	—	$	114,769	$	—	$	114,769


	December 31, 2020
(Dollars in thousands)	Level 1		Level 2		Level 3		Total Assets / Liabilities at Fair Value
Financial assets:
Debt securities available-for-sale:

Corporate bonds	$	—	$	158,464	$	—	$	158,464
Trust preferred securities	—		18,087		—		18,087



Agency collateralized mortgage obligations	—		22,089		—		22,089
Agency mortgage-backed securities	—		410,127		—		410,127
Agency debentures	—		8,803		—		8,803


Interest rate swaps	—		144,333		—		144,333

Total financial assets	—		761,903		—		761,903

Financial liabilities:
Interest rate swaps	—		153,433		—		153,433


Total financial liabilities	$	—	$	153,433	$	—	$	153,433

INVESTMENT SECURITIES

Generally, debt securities are valued using pricing for similar securities, recently executed transactions, and other pricing models utilizing observable inputs and therefore are classified as Level 2.

INTEREST RATE SWAPS

The fair value of interest rate swaps is estimated using inputs that are observable or that can be corroborated by observable market data and therefore are classified as Level 2. These fair value estimations include primarily market observable inputs such as the forward LIBOR swap curve.

NON-RECURRING FAIR VALUE MEASUREMENTS

Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment.

The following tables represent the balances of assets measured at fair value on a non-recurring basis as of June 30, 2021 and December 31, 2020:


	June 30, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Total Assets at Fair Value
Loans measured for impairment, net	$	—	$	—	$	5,589	$	5,589
Other real estate owned	—		—		2,568		2,568
Total assets	$	—	$	—	$	8,157	$	8,157


	December 31, 2020
(Dollars in thousands)	Level 1		Level 2		Level 3		Total Assets at Fair Value
Loans measured for impairment, net	$	—	$	—	$	7,692	$	7,692
Other real estate owned	—		—		2,724		2,724
Total assets	$	—	$	—	$	10,416	$	10,416

As of June 30, 2021 and December 31, 2020, the Company recorded $5.6 million and $2.0 million, respectively, of specific reserves to allowance for credit losses on loans and leases as a result of adjusting the fair value of impaired loans.

INDIVIDUALLY EVALUATED LOANS

The Company evaluates individually loans that do not share similar risk characteristics, including non-accrual loans and loans designated as TDRs. Specific allowance for credit losses is measured based on a market approach, discounted cash flow of ongoing operations, discounted at the loan’s original effective interest rate, or a calculation of the fair value of the underlying collateral less estimated selling costs. Our policy is to obtain appraisals on collateral supporting individually evaluated loans on an annual basis, unless circumstances dictate a shorter time frame. Appraisals are reduced by estimated costs to sell the collateral, and, under certain circumstances, additional factors that may arise and cause us to believe our recoverable value may be less than the independent appraised value. Accordingly, individually evaluated loans are classified as Level 3.

OTHER REAL ESTATE OWNED

OREO is comprised of property acquired through foreclosure or voluntarily conveyed by borrowers. These assets are recorded on the date acquired at fair value, less estimated disposition costs, with the fair value being determined by appraisal. Our policy is to obtain appraisals on collateral supporting OREO on an annual basis, unless circumstances dictate a shorter time frame. Appraisals are reduced by estimated costs to sell the collateral and, under certain circumstances, additional factors that may arise and cause us to believe our recoverable value may be less than the independent appraised value. Accordingly, OREO is classified as Level 3.

LEVEL 3 VALUATION

The following tables present additional quantitative information about assets measured at fair value on a recurring and non-recurring basis and for which we have utilized Level 3 inputs to determine fair value as of June 30, 2021 and December 31, 2020:

June 30, 2021

(Dollars in thousands)

Fair Value

Valuation Techniques (1)(2)

Significant Unobservable Inputs

Weighted Average Discount Rate

Loans measured for impairment, net

$

2,139

Collateral

Appraisal value and discount due to salability conditions

3%

Loans measured for impairment, net

$

3,450

Market Approach

Market value and discount due to salability conditions

33%

Other real estate owned

$

2,568

Collateral

Appraisal value and discount due to salability conditions

17%

(1)Fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow of ongoing operations if the loan is not collateral dependent.

(2)The collateral which is used in the valuation of these loans is commercial real estate.

December 31, 2020

(Dollars in thousands)

Fair Value

Valuation Techniques (1)(2)

Significant Unobservable Inputs

Weighted Average
Discount Rate

Loans measured for impairment, net

$

7,692

Collateral

Appraisal value and discount due to salability conditions

23%

Other real estate owned

$

2,724

Collateral

Appraisal value and discount due to salability conditions

12%

(1)Fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow of ongoing operations if the loan is not collateral dependent.

(2)The collateral which is used in the valuation of these loans is commercial real estate.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The following table summarizes the carrying amounts and estimated fair values of financial instruments:


		June 30, 2021				December 31, 2020
(Dollars in thousands)	Fair Value Level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Cash and cash equivalents	1	$	529,453	$	529,453	$	435,442	$	435,442

Debt securities available-for-sale	2	311,129		311,129		617,570		617,570
Debt securities held-to-maturity	2	1,014,712		1,010,135		211,691		214,299


Federal Home Loan Bank stock	2	11,817		11,817		13,284		13,284

Loans and leases held-for-investment, net	3	9,250,345		9,241,724		8,202,788		8,199,922
Accrued interest receivable	2	19,814		19,814		18,783		18,783
Investment management fees receivable, net	2	8,580		8,580		7,935		7,935
Bank owned life insurance	2	97,695		97,695		71,787		71,787
Other real estate owned	3	2,568		2,568		2,724		2,724
Interest rate swaps	2	109,374		109,374		144,333		144,333


Financial liabilities:
Deposits	2	$	10,191,433	$	10,204,889	$	8,489,089	$	8,510,799
Borrowings, net	2	345,600		354,653		400,493		402,714

Interest rate swaps	2	114,769		114,769		153,433		153,433

During the six months ended June 30, 2021 and 2020, there were no transfers between fair value Levels 1, 2 or 3.

The following methods and assumptions were used to estimate the fair value of each class of financial instruments as of June 30, 2021 and December 31, 2020:

CASH AND CASH EQUIVALENTS

The carrying amount approximates fair value.

INVESTMENT SECURITIES

The fair values of debt securities available-for-sale, debt securities held-to-maturity, debt securities trading and equity securities are based on quoted market prices for the same or similar securities, recently executed transactions and pricing models.

FEDERAL HOME LOAN BANK STOCK

The carrying value of our FHLB stock, which is carried at cost, approximates fair value.

LOANS AND LEASES HELD-FOR-INVESTMENT

The fair value of loans and leases held-for-investment is estimated by discounting the future cash flows using market rates (utilizing both unobservable and certain observable inputs when applicable) at which similar loans would be made to borrowers with similar credit ratings over the estimated remaining maturities. Impaired loans are generally valued at the fair value of the associated collateral.

ACCRUED INTEREST RECEIVABLE

The carrying amount approximates fair value.

INVESTMENT MANAGEMENT FEES RECEIVABLE

The carrying amount approximates fair value.

BANK OWNED LIFE INSURANCE

The fair value of general account BOLI is based on the insurance contract net cash surrender value.

OTHER REAL ESTATE OWNED

OREO is carried at fair value less estimated selling costs.

DEPOSITS

The fair value of demand deposits is the amount payable on demand as of the reporting date, i.e., their carrying amounts. The fair value of fixed maturity deposits is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities.

BORROWINGS

The fair value of borrowings is calculated by discounting scheduled cash flows through the estimated maturity using period end market rates for borrowings of similar remaining maturities.

INTEREST RATE SWAPS

The fair value of interest rate swaps is estimated through the assistance of an independent third party and compared to the fair value determined by the swap counterparty to establish reasonableness.

OFF-BALANCE SHEET INSTRUMENTS

Fair values for the Company’s off-balance sheet instruments, which consist of lending commitments, standby letters of credit and risk participation agreements related to interest rate swap agreements, are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. Management believes that the fair value of these off-balance sheet instruments is not significant.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Changes in Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables show the changes in accumulated other comprehensive income (loss) net of tax, for the periods presented:


	Three Months Ended June 30,
	2021						2020
(Dollars in thousands)	Debt Securities		Derivatives		Total		Debt Securities		Derivatives		Total
Balance, beginning of period	$	2,879	$	(4,206)	$	(1,327)	$	(6,678)	$	(7,371)	$	(14,049)
Change in unrealized holding gains (losses)	273		(311)		(38)		8,375		(1,200)		7,175
Losses (gains) reclassified from other comprehensive income	75		658		733		(5)		349		344


Net other comprehensive income (loss)	348		347		695		8,370		(851)		7,519
Balance, end of period	$	3,227	$	(3,859)	$	(632)	$	1,692	$	(8,222)	$	(6,530)


	Six Months Ended June 30,
	2021						2020
(Dollars in thousands)	Debt Securities		Derivatives		Total		Debt Securities		Derivatives		Total
Balance, beginning of period	$	3,834	$	(6,531)	$	(2,697)	$	2,756	$	(1,624)	$	1,132
Change in unrealized holding gains (losses)	(681)		1,372		691		(1,048)		(7,067)		(8,115)
Losses (gains) reclassified from other comprehensive income	74		1,300		1,374		(16)		469		453


Net other comprehensive income (loss)	(607)		2,672		2,065		(1,064)		(6,598)		(7,662)
Balance, end of period	$	3,227	$	(3,859)	$	(632)	$	1,692	$	(8,222)	$	(6,530)

Contingent Liabilities	6 Months Ended
Contingent Liabilities	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES	CONTINGENT LIABILITIESFrom time to time the Company is a party to various litigation matters incidental to the conduct of its business. The Company is not aware of any material unasserted claims. In the opinion of management, there are no potential claims that would have a material adverse effect on the Company’s financial position, liquidity or results of operations.

Segments

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

SEGMENTS

The Company operates two reportable segments: Bank and Investment Management.

•The Bank segment provides commercial banking services to middle-market businesses and private banking services to high-net-worth individuals through the Bank subsidiary.

•The Investment Management segment provides advisory and sub-advisory investment management services primarily to institutional investors, mutual funds and individual investors through the Chartwell subsidiary. It also supports marketing efforts for Chartwell’s proprietary investment products through the CTSC Securities subsidiary.

The following tables provide financial information for the two segments of the Company as of and for the periods indicated. The information provided under the caption “Parent and Other” represents general operating activity of the Company not considered to be a reportable segment, which includes parent company activity as well as eliminations and adjustments that are necessary for purposes of reconciliation to the consolidated amounts.


(Dollars in thousands)	June 30, 2021		December 31, 2020
Assets:
Bank	$	11,461,329	$	9,819,719
Investment management	87,221		86,150
Parent and other	(7,378)		(9,053)
Total assets	$	11,541,172	$	9,896,816


	Three Months Ended June 30, 2021								Three Months Ended June 30, 2020
(Dollars in thousands)	Bank		Investment Management		Parent and Other		Consolidated		Bank		Investment Management		Parent and Other		Consolidated
Income statement data:
Interest income	$	55,555	$	—	$	—	$	55,555	$	51,661	$	—	$	—	$	51,661
Interest expense	11,199		—		1,444		12,643		17,251		—		926		18,177
Net interest income (loss)	44,356		—		(1,444)		42,912		34,410		—		(926)		33,484
Provision for credit losses	96		—		—		96		6,005		—		—		6,005
Net interest income (loss) after provision for credit losses	44,260		—		(1,444)		42,816		28,405		—		(926)		27,479
Non-interest income:
Investment management fees	—		9,774		(323)		9,451		—		7,897		(159)		7,738
Net gain on the sale and call of debt securities	98		—		—		98		14		—		—		14
Other non-interest income	5,283		12		—		5,295		5,215		30		—		5,245
Total non-interest income (loss)	5,381		9,786		(323)		14,844		5,229		7,927		(159)		12,997
Non-interest expense:
Intangible amortization expense	—		478		—		478		—		486		—		486

Other non-interest expense	25,570		7,826		551		33,947		19,967		7,003		640		27,610
Total non-interest expense	25,570		8,304		551		34,425		19,967		7,489		640		28,096
Income (loss) before tax	24,071		1,482		(2,318)		23,235		13,667		438		(1,725)		12,380
Income tax expense (benefit)	4,565		286		(396)		4,455		2,173		102		(296)		1,979
Net income (loss)	$	19,506	$	1,196	$	(1,922)	$	18,780	$	11,494	$	336	$	(1,429)	$	10,401


	Six Months Ended June 30, 2021								Six Months Ended June 30, 2020
(Dollars in thousands)	Bank		Investment Management		Parent and Other		Consolidated		Bank		Investment Management		Parent and Other		Consolidated
Income statement data:
Interest income	$	107,547	$	—	$	—	$	107,547	$	115,863	$	—	$	—	$	115,863
Interest expense	23,038		—		2,941		25,979		46,547		—		910		47,457
Net interest income (loss)	84,509		—		(2,941)		81,568		69,316		—		(910)		68,406
Provision for credit losses	320		—		—		320		8,998		—		—		8,998
Net interest income (loss) after provision for credit losses	84,189		—		(2,941)		81,248		60,318		—		(910)		59,408
Non-interest income:
Investment management fees	—		19,009		(558)		18,451		—		15,662		(286)		15,376
Net gain on the sale and call of debt securities	97		—		—		97		71		—		—		71
Other non-interest income	9,915		32		—		9,947		10,866		—		—		10,866
Total non-interest income (loss)	10,012		19,041		(558)		28,495		10,937		15,662		(286)		26,313
Non-interest expense:
Intangible amortization expense	—		956		—		956		—		988		—		988

Other non-interest expense	48,225		15,268		1,254		64,747		41,000		13,630		1,622		56,252
Total non-interest expense	48,225		16,224		1,254		65,703		41,000		14,618		1,622		57,240
Income (loss) before tax	45,976		2,817		(4,753)		44,040		30,255		1,044		(2,818)		28,481
Income tax expense (benefit)	9,294		596		(830)		9,060		5,521		130		(466)		5,185
Net income (loss)	$	36,682	$	2,221	$	(3,923)	$	34,980	$	24,734	$	914	$	(2,352)	$	23,296

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn July 13, 2021 the Board declared a dividend payable of approximately $679,000, or $0.42 per depositary share, on the Company’s Series A Preferred Stock and a dividend payable of approximately $1.3 million, or $0.40 per depositary share, on the Company’s Series B Preferred Stock, each of which is payable on October 1, 2021, to preferred shareholders of record as of the close of business on September 15, 2021. The Board also declared a dividend payable of 11 shares of the Company’s Series C Preferred Stock per share, and cash paid in lieu of a fractional share, which is payable on October 1, 2021, to preferred shareholders of record of the Series C Preferred Stock as of the close of business on September 15, 2021.

Basis of Information and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Nature of operation	NATURE OF OPERATION TriState Capital Holdings, Inc. (“we,” “us,” “our,” the “holding company,” the “parent company,” or the “Company”) is a registered bank holding company pursuant to the Bank Holding Company Act of 1956, as amended. The Company has three wholly owned subsidiaries: TriState Capital Bank, a Pennsylvania-chartered state bank (the “Bank”); Chartwell Investment Partners, LLC, a registered investment adviser (“Chartwell”); and Chartwell TSC Securities Corp., a registered broker-dealer (“CTSC Securities”). The Bank was established to serve the commercial banking needs of middle-market businesses and financial services providers and focused private banking needs of high-net-worth individuals nation-wide. The Bank has two wholly owned subsidiaries: TSC Equipment Finance LLC (“TSC Equipment Finance”), established to hold and manage loans and leases of our equipment finance business, and Meadowood Asset Management, LLC (“Meadowood”), established to hold and manage other real estate owned by the Bank and/or foreclosed properties for the Bank. Chartwell provides investment management services primarily to institutional investors, mutual funds and individual investors. CTSC Securities supports marketing efforts for the proprietary investment products provided by Chartwell, including shares of mutual funds advised and/or administered by Chartwell. The Company and the Bank are subject to regulatory examination and supervision by the Federal Deposit Insurance Corporation (“FDIC”), the Pennsylvania Department of Banking and Securities and the Board of Governors of the Federal Reserve System (“Federal Reserve”). In addition, if the Bank’s consolidated total assets exceed $10 billion for four consecutive quarters, the Company and the Bank will become subject to the regulatory examination and supervision of the Consumer Financial Protection Bureau (“CFPB”) with respect to certain consumer protection laws. The Bank’s quarter-end consolidated assets exceeded $10 billion for two consecutive quarters as of June 30, 2021. Chartwell is a registered investment adviser regulated by the U.S. Securities and Exchange Commission (“SEC”). CTSC Securities is regulated by the SEC and the Financial Industry Regulatory Authority, Inc. (“FINRA”). The Bank conducts business through its main office located in Pittsburgh, Pennsylvania, as well as its four additional representative offices in Cleveland, Ohio; Philadelphia, Pennsylvania; Edison, New Jersey; and New York, New York. Chartwell conducts business through its office located in Berwyn, Pennsylvania, and CTSC Securities conducts business through its office located in Pittsburgh, Pennsylvania.
Use of estimates	USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) in the United States of America requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of related revenues and expenses during the reporting period. Although our current estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be different than those anticipated in the estimates, which could materially affect the financial results of our operations and financial condition. Material estimates that are particularly susceptible to significant changes relate to the determination of the allowance for credit losses on loans and leases, valuation of goodwill and other intangible assets and their evaluation for impairment, fair value measurements and deferred income taxes and their related recoverability, each of which is discussed later in this section.
Consolidation	CONSOLIDATION Our consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, the Bank, Chartwell and CTSC Securities, after elimination of inter-company accounts and transactions. The accounts of the Bank, in turn, include its wholly owned subsidiaries, TSC Equipment Finance and Meadowood, after elimination of inter-company accounts and transactions. The unaudited condensed consolidated financial statements of the Company presented herein have been prepared pursuant to SEC rules for Quarterly Reports on Form 10-Q and do not include all of the information and note disclosures required by GAAP for a full year presentation. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying unaudited condensed consolidated financial statements have been included. Interim results are not necessarily reflective of the results of the entire year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company and the related notes for the fiscal year ended December 31, 2020, included in the Company’s Annual Report on Form 10-K filed with the SEC on February 25, 2021.
Cash and cash equivalents	CASH AND CASH EQUIVALENTSFor purposes of reporting cash flows, the Company has defined cash and cash equivalents as cash, interest-earning deposits with other institutions, federal funds sold and short-term investments that have an original maturity of 90 days or less. Under agreements with certain of its derivative counterparties, the Company is required to maintain minimum cash collateral posting thresholds with such counterparties. The cash subject to these agreements is considered restricted for these purposes.
Business combinations	BUSINESS COMBINATIONS The Company accounts for business combinations using the acquisition method of accounting. Under this method of accounting, the acquired company’s net assets are recorded at fair value as of the date of acquisition, and the results of operations of the acquired company are combined with our results from that date forward. Acquisition costs are expensed when incurred. The difference between the purchase price, which includes an initial measurement of any contingent earn out, and the fair value of the net assets acquired (including identified intangibles) is recorded as goodwill in the consolidated statements of financial condition. A change in the initial estimate of any contingent earn out amount is recorded to non-interest expense in the consolidated statements of income.
Investment securities	INVESTMENT SECURITIES The Company’s investments are classified as either: (1) held-to-maturity, which are debt securities that the Company intends to hold until maturity and are reported at amortized cost; (2) trading, which are debt securities bought and held principally for the purpose of selling them in the near term and reported at fair value, with unrealized gains and losses included in non-interest income; (3) available-for-sale, which are debt securities not classified as either held-to-maturity or trading securities and reported at fair value, with unrealized gains and losses reported as a component of accumulated other comprehensive income (loss), on an after-tax basis; or (4) equity securities, which are reported at fair value, with unrealized gains and losses included in non-interest income. The cost of securities sold is determined on a specific identification basis. Amortization of premiums and accretion of discounts are recorded to interest income on investments over the estimated life of the security utilizing the level yield method. Management evaluates expected credit losses on held-to-maturity debt securities on a collective or pool basis, by investment category and credit rating. The Company measures credit losses by comparing the present value of cash flows expected to be collected to the amortized cost basis of the security that considers historical credit loss information, adjusted for current conditions and reasonable and supportable economic forecasts. The Company’s investment securities can be classified into the following pools based on similar risk characteristics: (1) U.S. government agencies, (2) state and local municipalities, (3) domestic corporations, including trust preferred securities, and (4) non-agency securitizations. The Company’s U.S. government agency securities are issued by U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. For the remaining pools of securities, the credit rating of the issuers, the investment’s cash flow characteristics and the underlying instruments securitizing certain bonds are the most relevant risk characteristics of the investment portfolio. The Company’s investment policy only allows for purchases of investments with investment grade credit ratings and the Company continuously monitors for changes in credit ratings. Probability of default and loss given default rates are based on historical averages for each investment pool, adjusted to reflect the impact of a single, forward-looking forecast of certain macroeconomic variables, such as unemployment rates and interest rate spreads, which management considers to be both reasonable and supportable. The forecast of these macroeconomic variables is applied over a period of two years and reverts to historical averages over a three-year reversion period. Management evaluates available-for-sale debt securities in an unrealized loss position quarterly for expected credit losses. Management first determines whether it intends to sell or if it is more likely than not that it will be required to sell the impaired securities. This determination considers current and forecasted liquidity requirements, regulatory and capital requirements, and securities portfolio management. If the Company intends to sell an available-for-sale security with a fair value below amortized cost or if it is more likely than not that it will be required to sell such a security before recovery, the security’s amortized cost is written down to fair value through current period earnings. For available-for-sale debt securities that the Company does not intend to sell or it is more likely than not that it will not be required to sell before recovery, a provision for credit losses is recorded through current period earnings for the amount of the valuation decline below amortized cost that is attributable to credit losses. Management considers the extent to which fair value is less than amortized cost, credit ratings and other factors related to the security in assessing whether credit loss exists. The Company measures credit loss by comparing the present value of cash flows expected to be collected to the amortized cost basis of the security. An allowance for credit losses is recorded by the difference that the present value of cash flows expected to be collected is less than the amortized cost basis, limited by the amount that the fair value is less than the amortized cost basis. The remaining difference between the security’s fair value and amortized cost (that is, the decline in fair value not attributable to credit losses) is recognized in other comprehensive income (loss), in the consolidated statements of comprehensive income and the shareholders’ equity section of the consolidated statements of financial condition, on an after-tax basis. Changes in the allowance for credit losses are recorded as provision for credit losses. Losses are charged against the allowance when management believes the security is uncollectible or management intends to sell or is required to sell the security. The recognition of interest income on a debt security is discontinued when any principal or interest payment becomes 90 days past due, at which time the debt security is placed on non-accrual status. All accrued and unpaid interest on such debt security is then reversed. Accrued interest receivable is excluded from the estimate of expected credit losses.
Federal Home Loan Bank stock	FEDERAL HOME LOAN BANK STOCK The Bank is a member of the Federal Home Loan Bank (“FHLB”) of Pittsburgh. Member institutions are required to invest in FHLB stock. The stock is carried at cost, which approximates its liquidation value, and it is evaluated for impairment based on the ultimate recoverability of the par value. The following matters are considered by management when evaluating the FHLB stock for impairment: the ability of the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB; the impact of legislative and regulatory changes on the institution and its customer base; and the Company’s intent and ability to hold its FHLB stock for the foreseeable future. Management believes the Company’s holdings in the FHLB stock were recoverable at par value as of June 30, 2021 and December 31, 2020. Cash and stock dividends are reported as interest income on investments in the consolidated statements of income.
Loans and leases	LOANS AND LEASES Loans and leases held-for-investment are stated at amortized cost. Amortized cost is the unpaid principal balance, net of deferred loan fees and costs. Loans held-for-sale are stated at the lower of cost or fair value. Interest income on loans is accrued at the contractual rate on the principal amount outstanding. Deferred loan fees and costs are amortized to interest income over the estimated life of the loan, taking into consideration scheduled payments and prepayments. The Company considers a loan to be a troubled debt restructuring (“TDR”) when there is a concession made to a financially troubled borrower without adequate consideration provided to the Company. The Company evaluates any loan reasonably expected to become a TDR, regardless of whether the loan is on accrual or non-accrual status. Once a loan is deemed to be a TDR, the Company considers whether the loan should be placed on non-accrual status. In assessing accrual status, the Company considers the likelihood that repayment and performance according to the original contractual terms will be achieved, as well as the borrower’s historical payment performance. A loan is designated and reported as a TDR until such loan is either paid off or sold unless the restructuring agreement specifies an interest rate equal to or greater than the rate that would be accepted at the time of the restructuring for a new loan with comparable risk and it is fully expected that the remaining principal and interest will be collected according to the restructured agreement. The recognition of interest income on a loan is discontinued when, in management’s opinion, it is probable the borrower is unable to meet payments as they become due or when the loan becomes 90 days past due, whichever occurs first, at which time the loan is placed on non-accrual status. All accrued and unpaid interest on such loans is then reversed. The interest ultimately collected is applied to reduce principal if there is doubt about the collectability of principal. If a borrower brings a loan current for which accrued interest has been reversed, then the recognition of interest income on the loan is resumed once the loan has been current for a period of six consecutive months or greater. The Company is a party to financial instruments with off-balance sheet risk, such as commitments to extend credit, in the normal course of business to meet the financing needs of its customers. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the lending agreement with such customer. Commitments generally have fixed expiration dates or other termination clauses (e.g., loans due on demand) and may require payment of a fee. Since some of the commitments are expected to expire without being drawn upon, the unfunded commitment amount does not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis using the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The amount of collateral obtained, if deemed necessary by the Company upon extension of a commitment, is based on management’s credit evaluation of the borrower.
Other real estate owned	OTHER REAL ESTATE OWNED Real estate owned, other than bank premises, is recorded at fair value less estimated selling costs. Fair value is determined based on an independent appraisal. Expenses related to holding the property are charged against earnings when incurred. Depreciation is not recorded on other real estate owned (“OREO”) properties.
Allowance for credit losses and leases	ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of loans and leases to present management’s best estimate of the net amount expected to be collected. Adjustments to the allowance for credit losses are established through provisions for credit losses that are recorded in the consolidated statements of income. Loans and leases are charged off against the allowance for credit losses when management believes that the principal is uncollectible. If, at a later time, amounts are recovered with respect to loans and leases previously charged off, the recovered amount is credited to allowance for credit losses. Accrued interest receivable is excluded from the estimate of expected credit losses. The allowance for credit losses represent estimates of expected credit losses for homogeneous loan pools that share similar risk characteristics such as commercial and industrial (“C&I”) loans and leases, commercial real estate (“CRE”) loans, and private banking loans which include consumer lines of credit and residential mortgages. The Company periodically reassesses each loan pool to ensure that the loans within the pool continue to share similar risk characteristics. Non-accrual loans and loans designated as TDRs are assessed individually using a discounted cash flow method or, where a loan is collateral dependent, based upon the fair value of the collateral less estimated selling costs. The collateral on our private banking loans that is secured by cash, marketable securities and/or cash value life insurance is monitored daily and requires borrowers to continually replenish collateral as a result of fair value changes. Therefore, it is expected that the fair value of the collateral securing each loan will exceed the loan’s amortized cost basis and no allowance for the off-balance sheet exposure would be required under Accounting Standard Codification (“ASC”) 326-20-35-6, “Financial Assets Secured by Collateral Maintenance Provisions.” In estimating the general allowance for credit losses for loans evaluated on a collective or pool basis, management considers past events, current conditions, and reasonable and supportable economic forecasts, including historical charge-offs and subsequent recoveries. Management also considers qualitative factors that influence our credit quality, including, but not limited to, delinquency and non-performing loan trends, changes in loan underwriting guidelines and credit policies, and the results of internal loan reviews. Finally, management considers the impact of changes in current and forecasted local and regional economic conditions in the markets that we serve. Management bases the computation of the general allowance for credit losses on two factors: the primary factor and the secondary factor. The primary factor is based on the inherent risk identified by management within each of the Company’s three loan portfolios based on the historical loss experience of each loan portfolio. Management has developed a methodology that is applied to each of the three primary loan portfolios: C&I loans and leases, CRE loans and private banking loans (other than those secured by cash, marketable securities and/or cash value life insurance). For each portfolio, management estimates expected credit losses over the life of each loan utilizing lifetime or cumulative loss rate methodology, which identifies macroeconomic factors and asset-specific characteristics that are correlated with credit loss experience, including loan age, loan type, leverage, risk rating, interest rate spread and industry. The lifetime loss rate is applied to the amortized cost of the loan. This methodology builds on default and recovery probabilities by utilizing pool-specific historical loss rates to calculate expected credit losses. These pool-specific historical loss rates may be adjusted for a forecast of certain macroeconomic variables, as further discussed below, and other factors such as differences in underwriting standards, portfolio mix, or when historical asset terms do not reflect the contractual terms of the financial assets being evaluated as of the measurement date. Each time the Company measures expected credit losses, the Company assesses the relevancy of historical loss information and considers any necessary adjustments to address any differences in asset-specific characteristics. The allowance for credit losses represents management’s current estimate of expected credit losses in the loan and lease portfolio. Expected credit losses are estimated over the contractual term of the loans, which includes extension or renewal options that are not unconditionally cancellable by the Company and are adjusted for expected prepayments when appropriate. Management’s judgment takes into consideration past events, current conditions and reasonable and supportable economic forecasts including general economic conditions, diversification and seasoning of the loan portfolio, historic loss experience, identified credit problems, delinquency levels and adequacy of collateral. Although management believes it has used the best information available in making such determinations, and that the present allowance for credit losses represents management’s best estimate of current expected credit losses, future adjustments to the allowance may be necessary, and net income may be adversely affected if circumstances differ substantially from the assumptions used in determining the level of the allowance. The lifetime loss rates are estimated by analyzing a combination of internal and external data related to historical performance of each loan pool over a complete economic cycle. Loss rates are based on historical averages for each loan pool, adjusted to reflect the impact of a single, forward-looking forecast of certain macroeconomic variables such as gross domestic product (“GDP”), unemployment rates, corporate bond credit spreads and commercial property values, which management considers to be both reasonable and supportable. The single, forward-looking forecast of these macroeconomic variables is applied over the remaining life of the loan pools. The development of the reasonable and supportable forecast incorporates an assumption that each macroeconomic variable will revert to a long-term expectation starting in years two to four of the forecast and largely completing within the first five years of the forecast. The secondary factor is intended to capture additional risks related to events and circumstances that management believes have an impact on the performance of the loan portfolio that are not considered as part of the primary factor. Although this factor is more subjective in nature, the methodology focuses on internal and external trends in pre-specified categories, or risk factors, and applies a quantitative percentage that drives the secondary factor. Nine risk factors have been identified and each risk factor is assigned an allowance level based on management’s judgment as to the expected impact of each risk factor on each loan portfolio and is monitored on a quarterly basis. As the trend in any risk factor changes, management evaluates the need for a corresponding change to occur in the allowance associated with each respective risk factor to provide the most appropriate estimate of allowance for credit losses on loans and leases. The Company also maintains an allowance for credit losses on off-balance sheet credit exposures for unfunded loan commitments. This allowance is reflected as a component of other liabilities which represents management’s current estimate of expected losses in the unfunded loan commitments. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life based on management’s consideration of past events, current conditions and reasonable and supportable economic forecasts. Management tracks the level and trends in unused commitments and takes into consideration the same factors as those considered for purposes of the allowance for credit losses on outstanding loans. Unconditionally cancellable loans are excluded from the calculation of allowance for credit losses on off-balance sheet credit exposures. Results for the six months ended June 30, 2021 are presented under the current expected credit loss (“CECL”) methodology, in accordance with ASC Topic 326, while prior period amounts continue to be reported in accordance with ASC Topic 450, “Contingencies,” and specific reserves based upon ASC Topic 310, “Receivables.” ASC Topic 450 applies to homogeneous loan pools such as commercial loans, consumer lines of credit and residential mortgages that are not individually evaluated for impairment. ASC Topic 310 is applied to commercial and consumer loans that are individually evaluated for impairment.
Investment management fees	INVESTMENT MANAGEMENT FEES The Company recognizes investment management fee revenue when advisory services are performed. Fees are based on assets under management and are calculated pursuant to individual client contracts. Investment management fees are generally received on a quarterly basis. Certain incremental costs incurred to acquire some of our investment management contracts are deferred and amortized to non-interest expense over the estimated life of the contract. Investment management fees receivable represent amounts due for contractual investment management services provided to the Company’s clients, primarily institutional investors, mutual funds and individual investors. Management performs credit evaluations of its customers’ financial condition when it is deemed to be necessary and does not require collateral. The Company provides an allowance for uncollectible accounts based on specifically identified receivables.
Goodwill and other intangible assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Goodwill is not amortized and is subject to at least annual assessments for impairment by applying a fair value-based test. The Company reviews goodwill annually and again at any quarter-end if a material event occurs during the quarter that may affect goodwill. If goodwill testing is required, an assessment of qualitative factors can be completed before performing a goodwill impairment test. If an assessment of qualitative factors determines it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, then a goodwill impairment test is not required. Other intangible assets represent purchased assets that may lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. The Company has determined that certain of its acquired mutual fund client relationships meet the criteria to be considered indefinite-lived assets because the Company expects both the renewal of these contracts and the cash flows generated by these assets to continue indefinitely. Accordingly, the Company does not amortize these intangible assets, but instead reviews these assets annually or more frequently whenever events or circumstances occur indicating that the recorded indefinite-lived assets may be impaired. Each reporting period, the Company assesses whether events or circumstances have occurred which indicate that the indefinite life criteria are no longer met. If the indefinite life criteria are no longer met, the Company assesses whether the carrying value of these assets exceeds its fair value. If the carrying value exceeds the fair value of the assets, an impairment loss is recorded in an amount equal to any such excess and the assets are reclassified to finite-lived. Other intangible assets that the Company has determined to have finite lives, such as its trade names, client lists and non-compete agreements are amortized over their estimated useful lives. These finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, which range from four to 25 years. Finite-lived intangibles are evaluated for impairment on an annual basis or more frequently whenever events or circumstances occur indicating that the carrying amount of such assets may not be recoverable.
Office properties and equipment	OFFICE PROPERTIES AND EQUIPMENT Office properties and equipment are stated at cost less accumulated depreciation. Office properties include furniture, fixtures and leasehold improvements. Equipment includes computer equipment and internal use software. Depreciation is computed utilizing the straight-line method over the estimated useful lives of the related assets, except for leasehold improvements, which are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Estimated useful lives are dependent upon the nature and condition of the asset and range from three to 10 years. Repairs and maintenance are charged to expense as incurred, while improvements that extend the useful life of the assets are capitalized and depreciated to non-interest expense over the estimated remaining life of the asset.
Operating leases	OPERATING LEASES The Company is a lessee in noncancellable operating leases, primarily for its office spaces and other office equipment. The Company accounts for leases in accordance with ASC Topic 842, “Leases,” and records operating leases as a right-of-use asset and an offsetting lease liability in the consolidated statements of financial condition at the present value of the unpaid lease payments. The Company generally uses its incremental borrowing rate as the discount rate for operating leases. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the right-of-use asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Bank owned life insurance	BANK OWNED LIFE INSURANCE Bank owned life insurance (“BOLI”) policies on certain officers and employees are recorded at net cash surrender value on the consolidated statements of financial condition. Upon termination of a BOLI policy, the Company receives the cash surrender value. BOLI benefits are payable to the Company upon the death of the insured. Changes in net cash surrender value are recognized as non-interest income in the consolidated statements of income.
Deposits	DEPOSITS Deposits are stated at principal outstanding. Interest on deposits is accrued and charged to interest expense daily and is paid or credited in accordance with the terms of the respective accounts.
Borrowings	BORROWINGS The Company records FHLB advances, line of credit borrowings and subordinated notes payable at their principal amount net of debt issuance costs. Interest expense is recognized based on the coupon rate of the obligations. Costs associated with the acquisition of subordinated notes payable are amortized to interest expense over the expected term of the borrowing.
Income taxes	INCOME TAXES The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the tax effects of differences between the financial statement and tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities with regard to a change in tax rates is recognized in income in the period that includes the enactment date. Management assesses all available evidence to determine the amount of deferred tax assets that are more likely than not to be realized. The available evidence used in connection with the assessments includes taxable income in prior periods, projected taxable income, potential tax planning strategies and projected reversals of deferred tax items. These assessments involve a degree of subjectivity and may undergo significant change. Changes to the evidence used in the assessments could have a material adverse effect on the Company’s results of operations in the period in which they occur. The Company considers uncertain tax positions that it has taken or expects to take on a tax return. Any interest and penalties related to unrecognized tax benefits would be recognized in income tax expense in the consolidated statements of income.
Earnings per common share	EARNINGS PER COMMON SHARE Earnings per common share (“EPS”) is computed using the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for common stock and participating securities, according to dividends and participation rights in undistributed earnings. Under this method, net earnings is reduced by the amount of dividends declared in the current period for common shareholders and participating security holders. The remaining earnings or “undistributed earnings” are allocated between common stock and participating securities to the extent that each security may share in earnings as if all the earnings for the period had been distributed. The two-class method requires that the Company’s Series C perpetual non-cumulative convertible non-voting preferred stock (the “Series C Preferred Stock”) and outstanding warrants to be treated as participating classes of securities in the computation of EPS. In addition, net income is reduced by dividends declared on all series of preferred stock to derive net income available to common shareholders. Basic EPS is computed by dividing net income allocable to common shareholders by the weighted average number of the Company’s common shares outstanding for the period, excluding non-vested restricted stock. Diluted EPS reflects the potential dilution upon the exercise of stock options and warrants, and the vesting of restricted stock awards granted utilizing the treasury stock method.
Stock-based compensation	STOCK-BASED COMPENSATION The Company accounts for its stock-based compensation awards based on estimated fair values of stock-based awards made to employees and directors. Compensation cost for all stock-based payments is based on the estimated grant-date fair value. The value of the portion of the award that is ultimately expected to vest is included in compensation and employee benefits expense in the consolidated statements of income and recorded as a component of additional paid-in capital. Compensation expense for all awards is recognized on a straight-line basis over the requisite service period for the entire grant.
Derivatives and hedging activities	DERIVATIVES AND HEDGING ACTIVITIES All derivatives are evaluated at inception as to whether they are hedging or non-hedging activities. All derivatives are recognized as either assets or liabilities on the consolidated statements of financial condition and measured at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item. For derivatives designated as cash flow hedges, changes in fair value of the effective portion of the cash flow hedges are reported in accumulated other comprehensive income (loss). When the cash flows associated with the hedged item are realized, the gain or loss included in accumulated other comprehensive income (loss) is recognized in the consolidated statements of income. The Company also has interest rate derivative positions that are not designated as hedging instruments. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company is required to have minimum collateral posting thresholds with certain of its derivative counterparties, and this collateral is considered restricted cash. The Company executes interest rate derivatives with its commercial banking customers to facilitate their respective risk management strategies. The Company generates swap fee income through these transactions. These derivatives are simultaneously and economically hedged by offsetting derivatives that the Company executes with a third party, such that the Company generally eliminates its interest rate exposure resulting from such transactions and these derivatives are not designated as hedging instruments. Swap fees are based on the notional amount and weighted maturity of each individual transaction and are collected and recorded to non-interest income in the consolidated statements of income when the transaction is executed.
Fair value measurement	FAIR VALUE MEASUREMENT Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability in a principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date, using assumptions market participants would use when pricing such an asset or liability. An orderly transaction assumes exposure to the market for a customary period for marketing activities prior to the measurement date and not a forced liquidation or distressed sale. Fair value measurement and disclosure guidance provides a three-level hierarchy that prioritizes the inputs of valuation techniques used to measure fair value into three broad categories: •Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities. •Level 2 – Observable inputs such as quoted prices for similar assets and liabilities in active markets, quoted prices for similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. •Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies, and similar techniques that use significant unobservable inputs. Fair value must be recorded for certain assets and liabilities every reporting period on a recurring basis or, under certain circumstances, on a non-recurring basis.
Accumulated other comprehensive income (loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Unrealized holding gains and the non-credit component of unrealized losses on the Company’s debt securities available-for-sale are included in accumulated other comprehensive income (loss), net of applicable income taxes. Also included in accumulated other comprehensive income (loss) is the remaining unamortized balance of the unrealized holding gains (non-credit losses), net of applicable income taxes, that existed on the transfer date for debt securities reclassified into the held-to-maturity category from the available-for-sale category. Unrealized holding gains (losses) on the effective portion of the Company’s cash flow hedge derivatives are included in accumulated other comprehensive income (loss), net of applicable income taxes, which will be reclassified to interest expense as interest payments are made on the Company’s debt. Income tax effects in accumulated other comprehensive income (loss) are released as investments are sold or mature and as liabilities are extinguished.
Treasury stock	TREASURY STOCK The repurchase of the Company’s common stock is recorded at cost. At the time of reissuance, the treasury stock account is reduced using the average cost method. Gains and losses on the reissuance of common stock are recorded in additional paid-in capital, to the extent additional paid-in capital from any previous net gains on treasury share transactions exists. Any net deficiency is charged to retained earnings.
Reclassification	RECLASSIFICATION Certain items previously reported have been reclassified to conform with the current year’s reporting presentation and are considered immaterial.

Investment Securities (Tables)

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of investment securities available-for-sale

Debt securities available-for-sale and held-to-maturity were comprised of the following as of June 30, 2021:


	June 30, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Allowance for Credit Losses (1)		Estimated Fair Value
Debt securities available-for-sale:

Corporate bonds	$	135,853	$	1,606	$	289	$	—	$	137,170
Residential mortgage-backed securities	97,572		78		99		—		97,551


Trust preferred securities	18,300		312		186		—		18,426
Agency collateralized mortgage obligations	19,050		86		—		—		19,136
Agency mortgage-backed securities	25,263		30		1		—		25,292
Agency debentures	7,598		748		—		—		8,346
Municipal bonds	5,204		4		—		—		5,208
Total debt securities available-for-sale	$	308,840	$	2,864	$	575	$	—	$	311,129

(1)Available-for-sale securities are recorded on the consolidated statements of financial condition at estimated fair value, net of allowance for credit losses, if applicable.


	June 30, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Estimated Fair Value		Allowance for Credit Losses (1)
Debt securities held-to-maturity:
Corporate bonds	$	30,670	$	1,051	$	27	31,694		$	47
Agency debentures	129,998		816		11		130,803		—
Municipal bonds	4,778		10		—		4,788		—
Residential mortgage-backed securities	230,913		285		1,710		229,488		23
Agency mortgage-backed securities	579,374		798		5,480		574,692		—
U.S. treasury notes	39,049		29		409		38,669		—
Total debt securities held-to-maturity	$	1,014,782	$	2,989	$	7,637	$	1,010,134	$	70

(1)Held-to-maturity securities are recorded on the consolidated statements of financial condition at amortized cost, net of allowance for credit losses.

Debt securities available-for-sale and held-to-maturity were comprised of the following as of December 31, 2020:


	December 31, 2020
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Allowance for Credit Losses (1)	Estimated Fair Value
Debt securities available-for-sale:

Corporate bonds	$	157,452	$	1,538	$	526	—	$	158,464
Trust preferred securities	18,228		57		198		—	18,087


Agency collateralized mortgage obligations	22,058		36		5		—	22,089
Agency mortgage-backed securities	406,741		3,595		209		—	410,127
Agency debentures	8,013		790		—		—	8,803
Total debt securities available-for-sale	$	612,492	$	6,016	$	938	—	$	617,570

(1)Available-for-sale securities are recorded on the consolidated statements of financial condition at estimated fair value, net of allowance for credit losses, if applicable.


	December 31, 2020
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Estimated Fair Value		Allowance for Credit Losses (1)










Debt securities held-to-maturity:
Corporate bonds	$	28,672	$	566	$	1	$	29,237	$	79
Agency debentures	48,130		1,051		—		49,181		—
Municipal bonds	6,577		45		—		6,622		—
Residential mortgage-backed securities	124,152		237		217		124,172		70
Agency mortgage-backed securities	4,309		778		—		5,087		—
Total debt securities held-to-maturity	$	211,840	$	2,677	$	218	$	214,299	$	149

(1)Held-to-maturity securities are recorded on the consolidated statements of financial condition at amortized cost, net of allowance for credit losses.

Schedule of investment securities held-to-maturity

Debt securities available-for-sale and held-to-maturity were comprised of the following as of June 30, 2021:


	June 30, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Allowance for Credit Losses (1)		Estimated Fair Value
Debt securities available-for-sale:

Corporate bonds	$	135,853	$	1,606	$	289	$	—	$	137,170
Residential mortgage-backed securities	97,572		78		99		—		97,551


Trust preferred securities	18,300		312		186		—		18,426
Agency collateralized mortgage obligations	19,050		86		—		—		19,136
Agency mortgage-backed securities	25,263		30		1		—		25,292
Agency debentures	7,598		748		—		—		8,346
Municipal bonds	5,204		4		—		—		5,208
Total debt securities available-for-sale	$	308,840	$	2,864	$	575	$	—	$	311,129

(1)Available-for-sale securities are recorded on the consolidated statements of financial condition at estimated fair value, net of allowance for credit losses, if applicable.


	June 30, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Estimated Fair Value		Allowance for Credit Losses (1)
Debt securities held-to-maturity:
Corporate bonds	$	30,670	$	1,051	$	27	31,694		$	47
Agency debentures	129,998		816		11		130,803		—
Municipal bonds	4,778		10		—		4,788		—
Residential mortgage-backed securities	230,913		285		1,710		229,488		23
Agency mortgage-backed securities	579,374		798		5,480		574,692		—
U.S. treasury notes	39,049		29		409		38,669		—
Total debt securities held-to-maturity	$	1,014,782	$	2,989	$	7,637	$	1,010,134	$	70

(1)Held-to-maturity securities are recorded on the consolidated statements of financial condition at amortized cost, net of allowance for credit losses.

Debt securities available-for-sale and held-to-maturity were comprised of the following as of December 31, 2020:


	December 31, 2020
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Allowance for Credit Losses (1)	Estimated Fair Value
Debt securities available-for-sale:

Corporate bonds	$	157,452	$	1,538	$	526	—	$	158,464
Trust preferred securities	18,228		57		198		—	18,087


Agency collateralized mortgage obligations	22,058		36		5		—	22,089
Agency mortgage-backed securities	406,741		3,595		209		—	410,127
Agency debentures	8,013		790		—		—	8,803
Total debt securities available-for-sale	$	612,492	$	6,016	$	938	—	$	617,570

(1)Available-for-sale securities are recorded on the consolidated statements of financial condition at estimated fair value, net of allowance for credit losses, if applicable.


	December 31, 2020
(Dollars in thousands)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Estimated Fair Value		Allowance for Credit Losses (1)










Debt securities held-to-maturity:
Corporate bonds	$	28,672	$	566	$	1	$	29,237	$	79
Agency debentures	48,130		1,051		—		49,181		—
Municipal bonds	6,577		45		—		6,622		—
Residential mortgage-backed securities	124,152		237		217		124,172		70
Agency mortgage-backed securities	4,309		778		—		5,087		—
Total debt securities held-to-maturity	$	211,840	$	2,677	$	218	$	214,299	$	149

(1)Held-to-maturity securities are recorded on the consolidated statements of financial condition at amortized cost, net of allowance for credit losses.

Interest income on investment securities

Interest income on investment securities was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020
Taxable interest income	$	3,552	$	3,609	$	5,990	$	7,001
Non-taxable interest income	31		26		57		137
Dividend income	154		305		336		703
Total interest income on investment securities	$	3,737	$	3,940	$	6,383	$	7,841

Schedule of contractual maturities of debt securities

As of June 30, 2021, the contractual maturities of the debt securities were:


	June 30, 2021
	Available-for-Sale				Held-to-Maturity
(Dollars in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in less than one year	$	27,499	$	27,622	$	1,911	$	1,915
Due from one to five years	46,189		46,953		14,287		14,814
Due from five to ten years	71,638		72,292		198,863		199,664
Due after ten years	163,514		164,262		799,721		793,741
Total debt securities	$	308,840	$	311,129	$	1,014,782	$	1,010,134

Schedule of proceeds and realized gains and losses from investments securities

Proceeds from the sale and call of debt securities available-for-sale and held-to-maturity and related gross realized gains and losses were:


	Available-for-Sale				Held-to-Maturity				Available-for-Sale				Held-to-Maturity
	Three Months Ended June 30,				Three Months Ended June 30,				Six Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020		2021		2020		2021		2020
Proceeds from sales	$	74,710	$	6,071	$	—	$	—	$	74,710	$	56,038	$	—	$	—
Proceeds from calls	1,000		3,580		40,000		125,405		13,000		3,580		43,555		247,758
Total proceeds	$	75,710	$	9,651	$	40,000	$	125,405	$	87,710	$	59,618	$	43,555	$	247,758

Gross realized gains	$	98	$	6	$	—	$	8	$	98	$	21	$	—	$	50
Gross realized losses	—		—		—		—		1		—		—		—
Net realized gains	$	98	$	6	$	—	$	8	$	97	$	21	$	—	$	50

Schedule of debt securities, held-to-maturity, allowance for credit loss

The following tables show a roll-forward of the allowance for credit losses on held-to-maturity securities for the three and six months ended June 30, 2021:


	Three Months Ended June 30, 2021
(Dollars in thousands)	Corporate bonds		Residential mortgage-backed securities		Municipal bonds		Agency debentures and mortgage-backed securities		U.S. treasury notes		Total
Balance, beginning of period	$	55	$	105	$	—	$	—	$	—	$	160

Provision (credit)	(8)		(82)		—		—		—		(90)
Charge-offs	—		—		—		—		—		—
Recoveries	—		—		—		—		—		—
Balance, end of period	$	47	$	23	$	—	$	—	$	—	$	70


	Six Months Ended June 30, 2021
(Dollars in thousands)	Corporate bonds		Residential mortgage-backed securities		Municipal bonds		Agency debentures and mortgage-backed securities		U.S. treasury notes		Total
Balance, beginning of period	$	79	$	70	$	—	$	—	$	—	$	149

Provision (credit)	(32)		(47)		—		—		—		(79)
Charge-offs	—		—		—		—		—		—
Recoveries	—		—		—		—		—		—
Balance, end of period	$	47	$	23	$	—	$	—	$	—	$	70

Schedule of fair value and gross unrealized losses on investment equity securities

The following tables show the fair value and gross unrealized losses on debt securities available-for-sale, by investment category and length of time that the individual securities have been in a continuous unrealized loss position as of June 30, 2021 and December 31, 2020:


	June 30, 2021
	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Debt securities available-for-sale:

Corporate bonds	$	9,531	$	93	$	9,804	$	196	$	19,335	$	289
Residential mortgage-backed securities	57,494		99		—		—		57,494		99


Trust preferred securities	—		—		4,304		186		4,304		186

Agency mortgage-backed securities	—		—		92		1		92		1


Total debt securities available-for-sale (1)	$	67,025	$	192	$	14,200	$	383	$	81,225	$	575

(1)The number of investment positions with unrealized losses totaled 11 for available-for-sale securities.


	December 31, 2020
	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Debt securities available-for-sale:

Corporate bonds	$	28,796	$	277	$	9,751	$	249	$	38,547	$	526
Trust preferred securities	13,313		198		—		—		13,313		198


Agency collateralized mortgage obligations	—		—		9,863		5		9,863		5
Agency mortgage-backed securities	89,931		209		—		—		89,931		209

Total debt securities available-for-sale (1)	$	132,040	$	684	$	19,614	$	254	$	151,654	$	938

(1)The number of investment positions with unrealized losses totaled 33 for available-for-sale securities.

Schedule of debt securities, held-to-maturity, credit quality indicator

The Company monitors the credit quality of debt securities held-to-maturity including credit ratings quarterly. The following tables present the amortized costs basis of debt securities held-to-maturity by Moody’s bond credit rating.


	June 30, 2021
(Dollars in thousands)	Aaa		Aa		A		Baa		Ba		Total
Debt securities held-to-maturity:
Corporate bonds	$	—	$	—	$	—	$	30,670	$	—	$	30,670
Agency debentures	129,998		—		—		—		—		129,998
Municipal bonds	—		3,988		790		—		—		4,778
Residential mortgage-backed securities	230,913		—		—		—		—		230,913
Agency mortgage-backed securities	579,374		—		—		—		—		579,374
U.S. treasury notes	39,049		—		—		—		—		39,049
Total debt securities held-to-maturity	$	979,334	$	3,988	$	790	$	30,670	$	—	$	1,014,782

Loans and Leases (Tables)

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Schedule of loans receivable

Loans and leases held-for-investment were comprised of the following:


	June 30, 2021
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Loans and leases held-for-investment, before deferred fees and costs	$	5,701,419	$	1,236,054	$	2,334,051	$	9,271,524
Net deferred loan costs (fees)	12,143		4,863		(5,608)		11,398
Loans and leases held-for-investment, net of deferred fees and costs	5,713,562		1,240,917		2,328,443		9,282,922
Allowance for credit losses on loans and leases	(2,107)		(8,969)		(21,501)		(32,577)
Loans and leases held-for-investment, net	$	5,711,455	$	1,231,948	$	2,306,942	$	9,250,345


	December 31, 2020
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Loans and leases held-for-investment, before deferred fees and costs	$	4,797,881	$	1,269,248	$	2,160,784	$	8,227,913
Net deferred loan costs (fees)	9,919		4,904		(5,318)		9,505
Loans and leases held-for-investment, net of deferred fees and costs	4,807,800		1,274,152		2,155,466		8,237,418
Allowance for credit losses on loans and leases	(2,047)		(5,254)		(27,329)		(34,630)
Loans and leases held-for-investment, net	$	4,805,753	$	1,268,898	$	2,128,137	$	8,202,788

Allowance for Credit Losses on Loans and Leases (Tables)

6 Months Ended

Jun. 30, 2021

Allowance for Credit Losses and Leases [Abstract]

Schedule of loans by credit quality indicator

The following table presents the amortized cost basis of loans by portfolio, risk rating and year of origination:


	As of June 30, 2021
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans (1)		Total
Private Banking:
Pass	$	21,999	$	60,956	$	32,371	$	54,986	$	7,213	$	54,610	$	5,480,937	$	5,713,072
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		—		490		—		—		—		—		490
Doubtful	—		—		—		—		—		—		—		—
Total Private Banking Loans	21,999		60,956		32,861		54,986		7,213		54,610		5,480,937		5,713,562
Commercial and Industrial:
Pass	93,243		201,555		219,185		69,098		40,412		27,868		575,213		1,226,574
Special Mention	—		1,653		—		—		—		—		3,941		5,594
Substandard	—		—		—		—		—		—		124		124
Doubtful	—		750		—		7,875		—		—		—		8,625
Total Commercial and Industrial Loans	93,243		203,958		219,185		76,973		40,412		27,868		579,278		1,240,917
Commercial Real Estate:
Pass	254,610		549,228		572,712		404,876		200,338		299,341		28,100		2,309,205
Special Mention	—		—		—		—		—		2,409		—		2,409
Substandard	—		198		5,395		26		2,399		8,811		—		16,829
Doubtful	—		—		—		—		—		—		—		—
Total Commercial Real Estate Loans	254,610		549,426		578,107		404,902		202,737		310,561		28,100		2,328,443
Loans and leases held-for-investment	$	369,852	$	814,340	$	830,153	$	536,861	$	250,362	$	393,039	$	6,088,315	$	9,282,922

(1)The Company had no revolving loans which were converted to term loans included in loans and leases held-for-investment at June 30, 2021.


	As of December 31, 2020
(Dollars in thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans (1)		Total
Private Banking:
Pass	$	64,829	$	44,210	$	57,081	$	7,736	$	12,040	$	55,092	$	4,566,296	$	4,807,284
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		516		—		—		—		—		—		516
Doubtful	—		—		—		—		—		—		—		—
Total Private Banking Loans	64,829		44,726		57,081		7,736		12,040		55,092		4,566,296		4,807,800
Commercial and Industrial:
Pass	216,459		223,189		88,212		44,575		9,383		20,709		651,900		1,254,427
Special Mention	1,795		—		5,416		—		—		—		3,431		10,642
Substandard	750		—		7,875		—		—		—		458		9,083
Doubtful	—		—		—		—		—		—		—		—
Total Commercial and Industrial Loans	219,004		223,189		101,503		44,575		9,383		20,709		655,789		1,274,152
Commercial Real Estate:
Pass	514,920		617,120		435,708		202,001		181,108		134,700		38,802		2,124,359
Special Mention	446		5,395		4,308		—		1,186		145		—		11,480
Substandard	91		—		6,296		2,926		7,054		3,260		—		19,627
Doubtful	—		—		—		—		—		—		—		—
Total Commercial Real Estate Loans	515,457		622,515		446,312		204,927		189,348		138,105		38,802		2,155,466
Loans and leases held-for-investment	$	799,290	$	890,430	$	604,896	$	257,238	$	210,771	$	213,906	$	5,260,887	$	8,237,418

(1)The Company had no revolving loans which were converted to term loans included in loans and leases held-for-investment at December 31, 2020.

Schedule of changes in allowance for loan losses

Changes in the allowance for credit losses on loans and leases were as follows for the three and six months ended June 30, 2021 and 2020:


	Three Months Ended June 30, 2021
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Balance, beginning of period	$	1,767	$	8,156	$	24,721	$	34,644
Provision (credit) for credit losses	340		700		(854)		186
Charge-offs	—		—		(2,366)		(2,366)
Recoveries	—		113		—		113
Balance, end of period	$	2,107	$	8,969	$	21,501	$	32,577


	Three Months Ended June 30, 2020
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Balance, beginning of period	$	2,174	$	6,685	$	8,445	$	17,304
Provision for credit losses	148		723		5,134		6,005
Charge-offs	(171)		—		—		(171)
Recoveries	—		138		—		138
Balance, end of period	$	2,151	$	7,546	$	13,579	$	23,276


	Six Months Ended June 30, 2021
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Balance, beginning of period	$	2,047	$	5,254	$	27,329	$	34,630
Provision (credit) for credit losses	60		3,801		(3,462)		399
Charge-offs	—		(199)		(2,366)		(2,565)
Recoveries	—		113		—		113
Balance, end of period	$	2,107	$	8,969	$	21,501	$	32,577


	Six Months Ended June 30, 2020
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Balance, beginning of period	$	1,973	$	5,262	$	6,873	$	14,108
Provision for credit losses	349		1,943		6,706		8,998
Charge-offs	(171)		—		—		(171)
Recoveries	—		341		—		341
Balance, end of period	$	2,151	$	7,546	$	13,579	$	23,276

Schedule of past due loans by class

The following tables present the age analysis of past due loans and leases segregated by class:


	June 30, 2021
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total
Private banking	$	425	$	—	$	43	$	468	$	5,713,094	$	5,713,562
Commercial and industrial	—		—		8,749		8,749		1,232,168		1,240,917
Commercial real estate	2,399		—		26		2,425		2,326,018		2,328,443
Loans and leases held-for-investment	$	2,824	$	—	$	8,818	$	11,642	$	9,271,280	$	9,282,922


	December 31, 2020
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total
Private banking	$	250	$	—	$	—	$	250	$	4,807,550	$	4,807,800
Commercial and industrial	—		—		458		458		1,273,694		1,274,152
Commercial real estate	2,926		—		6,296		9,222		2,146,244		2,155,466
Loans and leases held-for-investment	$	3,176	$	—	$	6,754	$	9,930	$	8,227,488	$	8,237,418

Schedule of loans considered to be impaired

The following tables present the Company’s amortized cost basis of individually evaluated loans and related information on those loans for the six months ended June 30, 2021 and 2020:


	As of and for the Six Months Ended June 30, 2021
(Dollars in thousands)	Amortized Cost		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With a related allowance recorded:
Private banking	$	—	$	—	$	—	$	—	$	—
Commercial and industrial	8,750		8,748		5,297		9,028		—
Commercial real estate	2,425		4,637		289		9,176		—
Total with a related allowance recorded	11,175		13,385		5,586		18,204		—
Without a related allowance recorded:
Private banking	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
Commercial real estate	—		—		—		—		—
Total without a related allowance recorded	—		—		—		—		—
Total:
Private banking	—		—		—		—		—
Commercial and industrial	8,750		8,748		5,297		9,028		—
Commercial real estate	2,425		4,637		289		9,176		—
Total	$	11,175	$	13,385	$	5,586	$	18,204	$	—


	As of and for the Twelve Months Ended December 31, 2020
(Dollars in thousands)	Amortized Cost		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With a related allowance recorded:
Private banking	$	—	$	—	$	—	$	—	$	—
Commercial and industrial	458		457		103		458		—
Commercial real estate	9,222		9,251		1,885		9,222		—
Total with a related allowance recorded	9,680		9,708		1,988		9,680		—
Without a related allowance recorded:
Private banking	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
Commercial real estate	—		—		—		—		—
Total without a related allowance recorded	—		—		—		—		—
Total:
Private banking	—		—		—		—		—
Commercial and industrial	458		457		103		458		—
Commercial real estate	9,222		9,251		1,885		9,222		—
Total	$	9,680	$	9,708	$	1,988	$	9,680	$	—

Schedule of allowance for credit losses and investment in loans by class

The following tables present the allowance for credit losses on loans and leases and amortized costs basis of individually evaluated loans:


	June 30, 2021
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Allowance for credit losses on loans and leases:
Individually evaluated for impairment	$	—	$	5,297	$	289	$	5,586
Collectively evaluated for impairment	2,107		3,672		21,212		26,991
Total allowance for credit losses on loans and leases	$	2,107	$	8,969	$	21,501	$	32,577
Loans and leases held-for-investment:
Individually evaluated for impairment	$	—	$	8,750	$	2,425	$	11,175
Collectively evaluated for impairment	5,713,562		1,232,167		2,326,018		9,271,747
Loans and leases held-for-investment	$	5,713,562	$	1,240,917	$	2,328,443	$	9,282,922


	December 31, 2020
(Dollars in thousands)	Private Banking		Commercial and Industrial		Commercial Real Estate		Total
Allowance for credit losses on loans and leases:
Individually evaluated for impairment	$	—	$	103	$	1,885	$	1,988
Collectively evaluated for impairment	2,047		5,151		25,444		32,642
Total allowance for credit losses on loans and leases	$	2,047	$	5,254	$	27,329	$	34,630
Loans and leases held-for-investment:
Individually evaluated for impairment	$	—	$	458	$	9,222	$	9,680
Collectively evaluated for impairment	4,807,800		1,273,694		2,146,244		8,227,738
Loans and leases held-for-investment	$	4,807,800	$	1,274,152	$	2,155,466	$	8,237,418

Schedule of financial effects of modifications

The financial effects of our modifications made to loans newly designated as TDRs during the six months ended June 30, 2021, were as follows:


	Six Months Ended June 30, 2021
(Dollars in thousands)	Count	Recorded Investment at the time of Modification		Current Recorded Investment		Allowance for Credit Losses on Loans and Leases at the time of Modification		Current Allowance for Credit Losses on Loans and Leases
Commercial Real Estate:
Extended term, deferred principal	2	$	4,454	$	—	$	445	$	—
Total	2	$	4,454	$	—	$	445	$	—

Deposits (Tables)

6 Months Ended

Jun. 30, 2021

Deposits [Abstract]

Schedule of deposits

As of June 30, 2021 and December 31, 2020, deposits were comprised of the following:


	Interest Rate Range	Weighted Average Interest Rate		Balance
(Dollars in thousands)	June 30, 2021	June 30, 2021	December 31, 2020	June 30, 2021		December 31, 2020
Demand and savings accounts:
Noninterest-bearing checking accounts	—	—	—	$	513,529	$	456,426
Interest-bearing checking accounts	0.05 to 1.70%	0.37%	0.38%	4,371,659		3,068,834
Money market deposit accounts	0.09 to 3.25%	0.48%	0.56%	4,383,597		3,927,797
Total demand and savings accounts				9,268,785		7,453,057
Certificates of deposit	0.02 to 3.22%	0.48%	1.08%	922,648		1,036,032
Total deposits				$	10,191,433	$	8,489,089
Weighted average rate on interest-bearing accounts		0.43%	0.56%

Schedule of maturities of time deposits

The contractual maturity of certificates of deposit was as follows:


(Dollars in thousands)	June 30, 2021		December 31, 2020
12 months or less	$	752,274	$	892,427
12 months to 24 months	150,995		132,443
24 months to 36 months	19,379		11,162



Total	$	922,648	$	1,036,032

Schedule of interest expense on deposits by type of deposit

Interest expense on deposits was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020
Interest-bearing checking accounts	$	3,214	$	2,719	$	6,008	$	7,933
Money market deposit accounts	5,636		7,377		11,600		22,031
Certificates of deposit	1,256		5,857		3,252		13,233
Total interest expense on deposits	$	10,106	$	15,953	$	20,860	$	43,197

Borrowings (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of borrowings

As of June 30, 2021 and December 31, 2020, borrowings were comprised of the following:


	June 30, 2021				December 31, 2020
(Dollars in thousands)	Interest Rate	Ending Balance		Maturity Date	Interest Rate	Ending Balance		Maturity Date
FHLB borrowings:

Issued 6/21/2021	0.32%	$	50,000	9/20/2021	—%	$	—
Issued 6/2/2021	0.29%	50,000		9/2/2021	—%	—
Issued 6/1/2021	0.29%	150,000		9/1/2021	—%	—
Issued 12/21/2020	—%	—			0.39%	50,000		3/22/2021
Issued 12/2/2020	—%	—			0.33%	50,000		3/2/2021
Issued 12/1/2020	—%	—			0.33%	150,000		3/1/2021
Issued 10/8/2020	—%	—			0.39%	50,000		1/8/2021
Line of credit borrowings	—%	—			4.25%	5,000		10/17/2021
Subordinated notes payable (net of debt issuance costs of $1,900 and $2,007, respectively)	5.75%	95,600		5/15/2030	5.75%	95,493		5/15/2030
Total borrowings, net		$	345,600			$	400,493

Schedule of interest expense on borrowings

Interest expense on borrowings was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2021		2020		2021		2020
FHLB borrowings	$	1,082	$	1,284	$	2,154	$	3,319
Line of credit borrowings	—		260		55		261
Subordinated notes payable	1,455		680		2,910		680
Total interest expense on borrowings	$	2,537	$	2,224	$	5,119	$	4,260

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Stock Transactions (Tables)

6 Months Ended

Jun. 30, 2021

Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]

Schedule of preferred and common shares, activity

The tables below show the changes in the Company’s preferred and common shares outstanding during the periods indicated:


	Number of Preferred Shares Outstanding	Number of Common Shares Outstanding	Number of Treasury Shares
Balance, December 31, 2019	120,750	29,355,986	2,126,422


Issuance of restricted common stock	—	597,070	—
Forfeitures of restricted common stock	—	(11,018)	—
Exercise of stock options	—	25,000	—
Purchase of treasury stock	—	(40,000)	40,000
Increase in treasury stock related to equity awards	—	(83,988)	83,988
Reissuance of treasury stock	—	8,500	(8,500)
Balance, June 30, 2020	120,750	29,851,550	2,241,910

Balance, December 31, 2020	121,400	32,620,150	2,299,422


Issuance of restricted common stock	—	595,386	—
Forfeitures of restricted common stock	—	(10,547)	—
Preferred stock dividend	11	—	—
Exercise of stock options	—	49,500	—

Increase in treasury stock related to equity awards	—	(77,555)	77,555

Balance, June 30, 2021	121,411	33,176,934	2,376,977

Regulatory Capital (Tables)

6 Months Ended

Jun. 30, 2021

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Schedule of compliance with regulatory capital requirements under banking regulations

The following tables set forth certain information concerning the Company’s and the Bank’s regulatory capital as of June 30, 2021 and December 31, 2020:


	June 30, 2021
	Actual				For Capital Adequacy Purposes				To be Well Capitalized Under Prompt Corrective Action Provisions
(Dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
Total risk-based capital ratio
Company	$	868,225	13.94	%	$	498,423	8.00	%	N/A		N/A
Bank	$	823,458	13.26	%	$	496,642	8.00	%	$	620,802	10.00	%
Tier 1 risk-based capital ratio
Company	$	743,882	11.94	%	$	373,817	6.00	%	N/A		N/A
Bank	$	794,715	12.80	%	$	372,481	6.00	%	$	496,642	8.00	%
Common equity tier 1 risk-based capital ratio
Company	$	564,539	9.06	%	$	280,363	4.50	%	N/A		N/A
Bank	$	794,715	12.80	%	$	279,361	4.50	%	$	403,521	6.50	%
Tier 1 leverage ratio
Company	$	743,882	6.86	%	$	433,567	4.00	%	N/A		N/A
Bank	$	794,715	7.34	%	$	432,885	4.00	%	$	541,106	5.00	%


	December 31, 2020
	Actual				For Capital Adequacy Purposes				To be Well Capitalized Under Prompt Corrective Action Provisions
(Dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
Total risk-based capital ratio
Company	$	833,819	14.12	%	$	472,267	8.00	%	N/A		N/A
Bank	$	789,273	13.41	%	$	470,820	8.00	%	$	588,525	10.00	%
Tier 1 risk-based capital ratio
Company	$	707,711	11.99	%	$	354,200	6.00	%	N/A		N/A
Bank	$	758,658	12.89	%	$	353,115	6.00	%	$	470,820	8.00	%
Common equity tier 1 risk-based capital ratio
Company	$	530,568	8.99	%	$	265,650	4.50	%	N/A		N/A
Bank	$	758,658	12.89	%	$	264,836	4.50	%	$	382,542	6.50	%
Tier 1 leverage ratio
Company	$	707,711	7.29	%	$	388,408	4.00	%	N/A		N/A
Bank	$	758,658	7.83	%	$	387,626	4.00	%	$	484,533	5.00	%

Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of earnings per share, basic and diluted

The computation of basic and diluted earnings per common share for the periods presented were as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
(Dollars in thousands, except per share data)	2021		2020			2021		2020

Basic earnings per common share:
Net income	$	18,780	$	10,401		$	34,980	$	23,296
Less: Preferred dividends on Series A and Series B	$	1,962	$	1,962		3,924		3,924
Less: Preferred dividends on Series C	$	1,115	$	—		2,212		—
Net income available to common shareholders	$	15,703	$	8,439		$	28,844	$	19,372

Allocation of net income available:
Common shareholders	$	13,272	$	8,439		$	24,375	$	19,372
Series C convertible preferred shareholders	$	2,040	$	—		3,749		—
Warrant shareholders	$	391	$	—		720		—
Total	$	15,703	$	8,439		$	28,844	$	19,372

Basic weighted average common shares outstanding:
Basic common shares	31,280,481		28,223,085			31,252,632		28,201,837
Series C convertible preferred stock, as-if converted	4,807,272		—			4,807,272		—
Warrants, as-if exercised	922,438		—			922,438		—

Basic earnings per common share	$	0.42	$	0.30		$	0.78	$	0.69

Diluted earnings per common share:
Income available to common shareholders after allocation	$	13,272	$	8,439		$	24,375	$	19,372

Diluted weighted average common shares outstanding:
Basic common shares	31,280,481		28,223,085			31,252,632		28,201,837
Restricted stock - dilutive	719,504		221,456			871,255		324,498
Stock options - dilutive	147,773		83,420			154,395		161,469
Diluted common shares	32,147,758		28,527,961			32,278,282		28,687,804

Diluted earnings per common share	$	0.41	$	0.30		$	0.76	$	0.68

	Three Months Ended June 30,					Six Months Ended June 30,
Anti-dilutive shares:	2021		2020			2021		2020
Restricted stock	10,750		864,246			12,000		566,498
Stock options	—		5,500			—		—
Series C convertible preferred stock, as-if converted	4,807,272		—			4,807,272		—
Warrants, as-if exercised	922,438		—			922,438		—
Total anti-dilutive shares	5,740,460		869,746		869746	5,741,710		566,498

Schedule of antidilutive securities excluded from computation of earnings per share

The computation of basic and diluted earnings per common share for the periods presented were as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
(Dollars in thousands, except per share data)	2021		2020			2021		2020

Basic earnings per common share:
Net income	$	18,780	$	10,401		$	34,980	$	23,296
Less: Preferred dividends on Series A and Series B	$	1,962	$	1,962		3,924		3,924
Less: Preferred dividends on Series C	$	1,115	$	—		2,212		—
Net income available to common shareholders	$	15,703	$	8,439		$	28,844	$	19,372

Allocation of net income available:
Common shareholders	$	13,272	$	8,439		$	24,375	$	19,372
Series C convertible preferred shareholders	$	2,040	$	—		3,749		—
Warrant shareholders	$	391	$	—		720		—
Total	$	15,703	$	8,439		$	28,844	$	19,372

Basic weighted average common shares outstanding:
Basic common shares	31,280,481		28,223,085			31,252,632		28,201,837
Series C convertible preferred stock, as-if converted	4,807,272		—			4,807,272		—
Warrants, as-if exercised	922,438		—			922,438		—

Basic earnings per common share	$	0.42	$	0.30		$	0.78	$	0.69

Diluted earnings per common share:
Income available to common shareholders after allocation	$	13,272	$	8,439		$	24,375	$	19,372

Diluted weighted average common shares outstanding:
Basic common shares	31,280,481		28,223,085			31,252,632		28,201,837
Restricted stock - dilutive	719,504		221,456			871,255		324,498
Stock options - dilutive	147,773		83,420			154,395		161,469
Diluted common shares	32,147,758		28,527,961			32,278,282		28,687,804

Diluted earnings per common share	$	0.41	$	0.30		$	0.76	$	0.68

	Three Months Ended June 30,					Six Months Ended June 30,
Anti-dilutive shares:	2021		2020			2021		2020
Restricted stock	10,750		864,246			12,000		566,498
Stock options	—		5,500			—		—
Series C convertible preferred stock, as-if converted	4,807,272		—			4,807,272		—
Warrants, as-if exercised	922,438		—			922,438		—
Total anti-dilutive shares	5,740,460		869,746		869746	5,741,710		566,498

Derivatives and Hedging Activity (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments in statement of financial position, fair value

The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the unaudited condensed consolidated statements of financial condition as of June 30, 2021 and December 31, 2020:

Asset Derivatives

Liability Derivatives

as of June 30, 2021

(Dollars in thousands)

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate products

Other assets

$

218

Other liabilities

$

5,554

Derivatives not designated as hedging instruments:

Interest rate products

Other assets

109,156

Other liabilities

109,215

Total

Other assets

$

109,374

Other liabilities

$

114,769

Asset Derivatives

Liability Derivatives

as of December 31, 2020

(Dollars in thousands)

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate products

Other assets

$

—

Other liabilities

$

9,082

Derivatives not designated as hedging instruments:

Interest rate products

Other assets

144,333

Other liabilities

144,351

Total

Other assets

$

144,333

Other liabilities

$

153,433

Schedule of offsetting derivative assets

The following tables show the impact legally enforceable master netting agreements had on the Company’s derivative financial instruments as of June 30, 2021 and December 31, 2020:


	Offsetting of Derivative Assets
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position				Net Amount

(Dollars in thousands)							Financial Instruments		Cash Collateral Received
June 30, 2021	$	109,374	$	—	$	109,374	$	(8,179)	$	—	$	101,195

December 31, 2020	$	144,333	$	—	$	144,333	$	(94)	$	—	$	144,239

Schedule of offsetting derivative liabilities


	Offsetting of Derivative Liabilities
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position				Net Amount

(Dollars in thousands)							Financial Instruments		Cash Collateral Posted
June 30, 2021	$	114,769	$	—	$	114,769	$	(8,179)	$	(95,293)	$	11,297

December 31, 2020	$	153,433	$	—	$	153,433	$	(94)	$	(150,238)	$	3,101

Schedule of interest rate derivative transactions

Characteristics of the Company’s interest rate derivative transactions designated as cash flow hedges of interest rate risk as of June 30, 2021, were as follows:


(Dollars in thousands)	Notional Amount		Effective Rate (1)	Estimated Increase/ (Decrease) to Interest Expense in the Next Twelve Months		Maturity Date	Remaining Term (in Months)
Interest rate products:

Issued 5/30/2019	$	50,000	2.05%	$	871	6/1/2022	11
Issued 5/30/2019	50,000		2.03%	938		6/1/2023	23
Issued 5/30/2019	50,000		2.04%	944		6/1/2024	35
Issued 3/2/2020	50,000		0.98%	406		3/2/2025	44
Issued 3/20/2020	50,000		0.60%	214		3/20/2025	45
Total	$	250,000		$	3,373

(1)The effective rate is adjusted for the difference between the three-month FHLB advance rate and three-month LIBOR.

Schedule of derivative instruments, gain (loss) in statement of financial performance

The tables below present the effective portion of the Company’s cash flow hedge instruments in the unaudited condensed consolidated statements of income and accumulated other comprehensive income (loss):


		Three Months Ended June 30,				Three Months Ended June 30,
(Dollars in thousands)		2021		2020		2021		2020
Derivatives designated as hedging instruments:	Location of Gain (Loss) Recognized in Income on Derivatives	Realized Gain (Loss) Recognized in Income on Derivatives				Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income on Derivatives
Interest rate products	Interest expense	$	(867)	$	(460)	$	(409)	$	(1,578)


		Six Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)		2021		2020		2021		2020
Derivatives designated as hedging instruments:	Location of Gain (Loss) Recognized in Income on Derivatives	Realized Gain (Loss) Recognized in Income on Derivatives				Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income on Derivatives
Interest rate products	Interest expense	$	(1,713)	$	(619)	$	1,807	$	(9,290)

The table below presents the effect of the Company’s non-designated hedge instruments in the unaudited condensed consolidated statements of income:


		Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)		2021		2020		2021		2020
Derivatives not designated as hedging instruments:	Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives				Amount of Gain (Loss) Recognized in Income on Derivatives
Interest rate products	Non-interest income	$	(8)	$	(4)	$	23	$	(66)

Disclosures About Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of fair value, assets and liabilities measured on recurring basis

The following tables represent assets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020:


	June 30, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Total Assets / Liabilities at Fair Value
Financial assets:
Debt securities available-for-sale:

Corporate bonds	$	—	$	137,170	$	—	$	137,170
Residential mortgage-backed securities	—		97,551		—		97,551
Trust preferred securities	—		18,426		—		18,426
Agency collateralized mortgage obligations	—		19,136		—		19,136
Agency mortgage-backed securities	—		25,292		—		25,292
Agency debentures	—		8,346		—		8,346
Municipal bonds	—		5,208		—		5,208

Interest rate swaps	—		109,374		—		109,374

Total financial assets	—		420,503		—		420,503

Financial liabilities:
Interest rate swaps	—		114,769		—		114,769


Total financial liabilities	$	—	$	114,769	$	—	$	114,769


	December 31, 2020
(Dollars in thousands)	Level 1		Level 2		Level 3		Total Assets / Liabilities at Fair Value
Financial assets:
Debt securities available-for-sale:

Corporate bonds	$	—	$	158,464	$	—	$	158,464
Trust preferred securities	—		18,087		—		18,087



Agency collateralized mortgage obligations	—		22,089		—		22,089
Agency mortgage-backed securities	—		410,127		—		410,127
Agency debentures	—		8,803		—		8,803


Interest rate swaps	—		144,333		—		144,333

Total financial assets	—		761,903		—		761,903

Financial liabilities:
Interest rate swaps	—		153,433		—		153,433


Total financial liabilities	$	—	$	153,433	$	—	$	153,433

Schedule of fair value measurements, nonrecurring

The following tables represent the balances of assets measured at fair value on a non-recurring basis as of June 30, 2021 and December 31, 2020:


	June 30, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Total Assets at Fair Value
Loans measured for impairment, net	$	—	$	—	$	5,589	$	5,589
Other real estate owned	—		—		2,568		2,568
Total assets	$	—	$	—	$	8,157	$	8,157


	December 31, 2020
(Dollars in thousands)	Level 1		Level 2		Level 3		Total Assets at Fair Value
Loans measured for impairment, net	$	—	$	—	$	7,692	$	7,692
Other real estate owned	—		—		2,724		2,724
Total assets	$	—	$	—	$	10,416	$	10,416

Schedule of fair value inputs, assets, quantitative information

The following tables present additional quantitative information about assets measured at fair value on a recurring and non-recurring basis and for which we have utilized Level 3 inputs to determine fair value as of June 30, 2021 and December 31, 2020:

June 30, 2021

(Dollars in thousands)

Fair Value

Valuation Techniques (1)(2)

Significant Unobservable Inputs

Weighted Average Discount Rate

Loans measured for impairment, net

$

2,139

Collateral

Appraisal value and discount due to salability conditions

3%

Loans measured for impairment, net

$

3,450

Market Approach

Market value and discount due to salability conditions

33%

Other real estate owned

$

2,568

Collateral

Appraisal value and discount due to salability conditions

17%

(1)Fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow of ongoing operations if the loan is not collateral dependent.

(2)The collateral which is used in the valuation of these loans is commercial real estate.

December 31, 2020

(Dollars in thousands)

Fair Value

Valuation Techniques (1)(2)

Significant Unobservable Inputs

Weighted Average
Discount Rate

Loans measured for impairment, net

$

7,692

Collateral

Appraisal value and discount due to salability conditions

23%

Other real estate owned

$

2,724

Collateral

Appraisal value and discount due to salability conditions

12%

(1)Fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow of ongoing operations if the loan is not collateral dependent.

(2)The collateral which is used in the valuation of these loans is commercial real estate.

Schedule of fair and carrying value of financial assets and liabilities

The following table summarizes the carrying amounts and estimated fair values of financial instruments:


		June 30, 2021				December 31, 2020
(Dollars in thousands)	Fair Value Level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Cash and cash equivalents	1	$	529,453	$	529,453	$	435,442	$	435,442

Debt securities available-for-sale	2	311,129		311,129		617,570		617,570
Debt securities held-to-maturity	2	1,014,712		1,010,135		211,691		214,299


Federal Home Loan Bank stock	2	11,817		11,817		13,284		13,284

Loans and leases held-for-investment, net	3	9,250,345		9,241,724		8,202,788		8,199,922
Accrued interest receivable	2	19,814		19,814		18,783		18,783
Investment management fees receivable, net	2	8,580		8,580		7,935		7,935
Bank owned life insurance	2	97,695		97,695		71,787		71,787
Other real estate owned	3	2,568		2,568		2,724		2,724
Interest rate swaps	2	109,374		109,374		144,333		144,333


Financial liabilities:
Deposits	2	$	10,191,433	$	10,204,889	$	8,489,089	$	8,510,799
Borrowings, net	2	345,600		354,653		400,493		402,714

Interest rate swaps	2	114,769		114,769		153,433		153,433

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of changes in accumulated other comprehensive income (loss)

The following tables show the changes in accumulated other comprehensive income (loss) net of tax, for the periods presented:


	Three Months Ended June 30,
	2021						2020
(Dollars in thousands)	Debt Securities		Derivatives		Total		Debt Securities		Derivatives		Total
Balance, beginning of period	$	2,879	$	(4,206)	$	(1,327)	$	(6,678)	$	(7,371)	$	(14,049)
Change in unrealized holding gains (losses)	273		(311)		(38)		8,375		(1,200)		7,175
Losses (gains) reclassified from other comprehensive income	75		658		733		(5)		349		344


Net other comprehensive income (loss)	348		347		695		8,370		(851)		7,519
Balance, end of period	$	3,227	$	(3,859)	$	(632)	$	1,692	$	(8,222)	$	(6,530)


	Six Months Ended June 30,
	2021						2020
(Dollars in thousands)	Debt Securities		Derivatives		Total		Debt Securities		Derivatives		Total
Balance, beginning of period	$	3,834	$	(6,531)	$	(2,697)	$	2,756	$	(1,624)	$	1,132
Change in unrealized holding gains (losses)	(681)		1,372		691		(1,048)		(7,067)		(8,115)
Losses (gains) reclassified from other comprehensive income	74		1,300		1,374		(16)		469		453


Net other comprehensive income (loss)	(607)		2,672		2,065		(1,064)		(6,598)		(7,662)
Balance, end of period	$	3,227	$	(3,859)	$	(632)	$	1,692	$	(8,222)	$	(6,530)

Segments (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment

The following tables provide financial information for the two segments of the Company as of and for the periods indicated. The information provided under the caption “Parent and Other” represents general operating activity of the Company not considered to be a reportable segment, which includes parent company activity as well as eliminations and adjustments that are necessary for purposes of reconciliation to the consolidated amounts.


(Dollars in thousands)	June 30, 2021		December 31, 2020
Assets:
Bank	$	11,461,329	$	9,819,719
Investment management	87,221		86,150
Parent and other	(7,378)		(9,053)
Total assets	$	11,541,172	$	9,896,816


	Three Months Ended June 30, 2021								Three Months Ended June 30, 2020
(Dollars in thousands)	Bank		Investment Management		Parent and Other		Consolidated		Bank		Investment Management		Parent and Other		Consolidated
Income statement data:
Interest income	$	55,555	$	—	$	—	$	55,555	$	51,661	$	—	$	—	$	51,661
Interest expense	11,199		—		1,444		12,643		17,251		—		926		18,177
Net interest income (loss)	44,356		—		(1,444)		42,912		34,410		—		(926)		33,484
Provision for credit losses	96		—		—		96		6,005		—		—		6,005
Net interest income (loss) after provision for credit losses	44,260		—		(1,444)		42,816		28,405		—		(926)		27,479
Non-interest income:
Investment management fees	—		9,774		(323)		9,451		—		7,897		(159)		7,738
Net gain on the sale and call of debt securities	98		—		—		98		14		—		—		14
Other non-interest income	5,283		12		—		5,295		5,215		30		—		5,245
Total non-interest income (loss)	5,381		9,786		(323)		14,844		5,229		7,927		(159)		12,997
Non-interest expense:
Intangible amortization expense	—		478		—		478		—		486		—		486

Other non-interest expense	25,570		7,826		551		33,947		19,967		7,003		640		27,610
Total non-interest expense	25,570		8,304		551		34,425		19,967		7,489		640		28,096
Income (loss) before tax	24,071		1,482		(2,318)		23,235		13,667		438		(1,725)		12,380
Income tax expense (benefit)	4,565		286		(396)		4,455		2,173		102		(296)		1,979
Net income (loss)	$	19,506	$	1,196	$	(1,922)	$	18,780	$	11,494	$	336	$	(1,429)	$	10,401


	Six Months Ended June 30, 2021								Six Months Ended June 30, 2020
(Dollars in thousands)	Bank		Investment Management		Parent and Other		Consolidated		Bank		Investment Management		Parent and Other		Consolidated
Income statement data:
Interest income	$	107,547	$	—	$	—	$	107,547	$	115,863	$	—	$	—	$	115,863
Interest expense	23,038		—		2,941		25,979		46,547		—		910		47,457
Net interest income (loss)	84,509		—		(2,941)		81,568		69,316		—		(910)		68,406
Provision for credit losses	320		—		—		320		8,998		—		—		8,998
Net interest income (loss) after provision for credit losses	84,189		—		(2,941)		81,248		60,318		—		(910)		59,408
Non-interest income:
Investment management fees	—		19,009		(558)		18,451		—		15,662		(286)		15,376
Net gain on the sale and call of debt securities	97		—		—		97		71		—		—		71
Other non-interest income	9,915		32		—		9,947		10,866		—		—		10,866
Total non-interest income (loss)	10,012		19,041		(558)		28,495		10,937		15,662		(286)		26,313
Non-interest expense:
Intangible amortization expense	—		956		—		956		—		988		—		988

Other non-interest expense	48,225		15,268		1,254		64,747		41,000		13,630		1,622		56,252
Total non-interest expense	48,225		16,224		1,254		65,703		41,000		14,618		1,622		57,240
Income (loss) before tax	45,976		2,817		(4,753)		44,040		30,255		1,044		(2,818)		28,481
Income tax expense (benefit)	9,294		596		(830)		9,060		5,521		130		(466)		5,185
Net income (loss)	$	36,682	$	2,221	$	(3,923)	$	34,980	$	24,734	$	914	$	(2,352)	$	23,296

Basis of Information and Summary of Significant Accounting Policies - Narrative (Details)	6 Months Ended
	Jun. 30, 2021 USD ($) portfolio offices subsidiary	Dec. 31, 2020 USD ($)
Significant Accounting Policies [Line Items]
Number of wholly owned subsidiaries	3
Past due period for loans (in days)	90 days
Number of loan portfolios \| portfolio	3
Allowance for uncollectible accounts \| $	$ 0	$ 0
Minimum
Significant Accounting Policies [Line Items]
Past due period for loans (in days)	90 days
Consecutive period loan is current (in months)	6 months
Estimated useful lives of intangible assets (in years)	4 years
Estimated useful lives of office properties and equipment (in years)	3 years
Maximum
Significant Accounting Policies [Line Items]
Original maturity of short-term investments (in days)	90 days
Estimated useful lives of intangible assets (in years)	25 years
Estimated useful lives of office properties and equipment (in years)	10 years
Bank
Significant Accounting Policies [Line Items]
Number of wholly owned subsidiaries	2
Number of representative offices, additional to main office \| offices	4

Investment Securities - Investment Types (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt securities available-for-sale:
Amortized Cost	$ 308,840	$ 612,492
Gross Unrealized Appreciation	2,864	6,016
Gross Unrealized Depreciation	575	938
Allowance for Credit Losses	0	0
Debt securities available-for-sale, at fair value	311,129	617,570
Debt securities held-to-maturity:
Amortized Cost	1,014,782	211,840
Gross Unrealized Appreciation	2,989	2,677
Gross Unrealized Depreciation	7,637	218
Estimated Fair Value	1,010,134	214,299
Allowance for Credit Losses	70	149
Corporate bonds
Debt securities available-for-sale:
Amortized Cost	135,853	157,452
Gross Unrealized Appreciation	1,606	1,538
Gross Unrealized Depreciation	289	526
Allowance for Credit Losses	0	0
Debt securities available-for-sale, at fair value	137,170	158,464
Debt securities held-to-maturity:
Amortized Cost	30,670	28,672
Gross Unrealized Appreciation	1,051	566
Gross Unrealized Depreciation	27	1
Estimated Fair Value	31,694	29,237
Allowance for Credit Losses	47	79
Residential mortgage-backed securities
Debt securities available-for-sale:
Amortized Cost	97,572
Gross Unrealized Appreciation	78
Gross Unrealized Depreciation	99
Allowance for Credit Losses	0
Debt securities available-for-sale, at fair value	97,551
Debt securities held-to-maturity:
Amortized Cost	230,913	124,152
Gross Unrealized Appreciation	285	237
Gross Unrealized Depreciation	1,710	217
Estimated Fair Value	229,488	124,172
Allowance for Credit Losses	23	70
Trust preferred securities
Debt securities available-for-sale:
Amortized Cost	18,300	18,228
Gross Unrealized Appreciation	312	57
Gross Unrealized Depreciation	186	198
Allowance for Credit Losses	0	0
Debt securities available-for-sale, at fair value	18,426	18,087
Agency collateralized mortgage obligations
Debt securities available-for-sale:
Amortized Cost	19,050	22,058
Gross Unrealized Appreciation	86	36
Gross Unrealized Depreciation	0	5
Allowance for Credit Losses	0	0
Debt securities available-for-sale, at fair value	19,136	22,089
Agency mortgage-backed securities
Debt securities available-for-sale:
Amortized Cost	25,263	406,741
Gross Unrealized Appreciation	30	3,595
Gross Unrealized Depreciation	1	209
Allowance for Credit Losses	0	0
Debt securities available-for-sale, at fair value	25,292	410,127
Debt securities held-to-maturity:
Amortized Cost	579,374	4,309
Gross Unrealized Appreciation	798	778
Gross Unrealized Depreciation	5,480	0
Estimated Fair Value	574,692	5,087
Allowance for Credit Losses	0	0
Agency debentures
Debt securities available-for-sale:
Amortized Cost	7,598	8,013
Gross Unrealized Appreciation	748	790
Gross Unrealized Depreciation	0	0
Allowance for Credit Losses	0	0
Debt securities available-for-sale, at fair value	8,346	8,803
Debt securities held-to-maturity:
Amortized Cost	129,998	48,130
Gross Unrealized Appreciation	816	1,051
Gross Unrealized Depreciation	11	0
Estimated Fair Value	130,803	49,181
Allowance for Credit Losses	0	0
Municipal bonds
Debt securities available-for-sale:
Amortized Cost	5,204
Gross Unrealized Appreciation	4
Gross Unrealized Depreciation	0
Allowance for Credit Losses	0
Debt securities available-for-sale, at fair value	5,208
Debt securities held-to-maturity:
Amortized Cost	4,778	6,577
Gross Unrealized Appreciation	10	45
Gross Unrealized Depreciation	0	0
Estimated Fair Value	4,788	6,622
Allowance for Credit Losses	0	$ 0
U.S. treasury notes
Debt securities held-to-maturity:
Amortized Cost	39,049
Gross Unrealized Appreciation	29
Gross Unrealized Depreciation	409
Estimated Fair Value	38,669
Allowance for Credit Losses	$ 0

Investment Securities - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
Investment Securities - Narrative (Details) - USD ($)	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Transfer of debt securities available-for-sale to held-to-maturity	$ 480,800,000	$ 480,769,000	$ 0
Available-for-sale securities with a contractual maturity due after ten years		164,262,000
Floating rate available-for-sale securities with a contractual maturity due after ten years		$ 29,200,000
Percent of floating rate available-for-sale securities with a contractual maturity due after ten years		17.80%
Held-to-maturity securities, debt maturities due from five to ten years		$ 198,863,000
Held-to-maturity securities, debt maturities due from five to ten years, callable		19,300,000
Allowance for credit loss	$ 160,000	70,000		$ 149,000
Accrued interest receivable on debt securities held-to-maturity		2,000,000.0		697,000
Debt securities trading		0		0
Federal Home Loan Bank stock		11,817,000		$ 13,284,000
Total Past Due
Debt Securities, Available-for-sale [Line Items]
Allowance for credit loss		0
Federal Home Loan Bank
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities available to be pledged as collateral for borrowings		2,200,000
Debt securities held-to-maturity pledged as collateral		$ 38,700,000

Investment Securities - Interest Income on Investment Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Taxable interest income	$ 3,552	$ 3,609	$ 5,990	$ 7,001
Non-taxable interest income	31	26	57	137
Dividend income	154	305	336	703
Total interest income on investment securities	$ 3,737	$ 3,940	$ 6,383	$ 7,841

Investment Securities - Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Available-for-sale Securities, Debt Maturities, Amortized Cost
Due in less than one year	$ 27,499
Due from one to five years	46,189
Due from five to ten years	71,638
Due after ten years	163,514
Amortized Cost	308,840	$ 612,492
Available-for-sale Securities, Debt Maturities, Estimated Fair Value
Due in less than one year	27,622
Due from one to five years	46,953
Due from five to ten years	72,292
Due after ten years	164,262
Estimated Fair Value	311,129	617,570
Held-to-maturity Securities, Debt Maturities, Amortized Cost
Due in less than one year	1,911
Due from one to five years	14,287
Due from five to ten years	198,863
Due after ten years	799,721
Amortized Cost	1,014,782
Held-to-maturity Securities, Debt Maturities, Estimated Fair Value
Due in less than one year	1,915
Due from one to five years	14,814
Due from five to ten years	199,664
Due after ten years	793,741
Estimated Fair Value	$ 1,010,134	$ 214,299

Investment Securities - Gains and Losses on Sales and Calls of Investment Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Proceeds from sale of available-for-sale securities	$ 74,710	$ 6,071	$ 74,710	$ 56,038
Proceeds from call of available-for-sale securities	1,000	3,580	13,000	3,580
Total proceeds from sale and call of available-for-sale securities	75,710	9,651	87,710	59,618
Gross realized gains on available-for-sale securities	98	6	98	21
Gross realized losses on available-for-sale securities	0	0	1	0
Net realized gains on sale and call of available-for-sale securities	98	6	97	21
Proceeds from sale of held-to-maturity securities	0	0	0	0
Proceeds from call of held-to-maturity securities	40,000	125,405	43,555	247,758
Total proceeds from sale and call of held-to-maturity securities	40,000	125,405	43,555	247,758
Gross realized gains on held-to-maturity securities	0	8	0	50
Gross realized losses on held-to-maturity securities	0	0	0	0
Net realized gains on sale and call of held-to-maturity securities	$ 0	$ 8	$ 0	$ 50

Investment Securities - Debt Securities, Held-to-maturity, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance, beginning of period	$ 160	$ 149
Provision (credit)	(90)	(79)
Charge-offs	0	0
Recoveries	0	0
Balance, end of period	70	70
Corporate bonds
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance, beginning of period	55	79
Provision (credit)	(8)	(32)
Charge-offs	0	0
Recoveries	0	0
Balance, end of period	47	47
Residential mortgage-backed securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance, beginning of period	105	70
Provision (credit)	(82)	(47)
Charge-offs	0	0
Recoveries	0	0
Balance, end of period	23	23
Municipal bonds
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance, beginning of period	0	0
Provision (credit)	0	0
Charge-offs	0	0
Recoveries	0	0
Balance, end of period	0	0
Agency debentures and mortgage-backed securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance, beginning of period	0	0
Provision (credit)	0	0
Charge-offs	0	0
Recoveries	0	0
Balance, end of period	0	0
U.S. treasury notes
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance, beginning of period	0	0
Provision (credit)	0	0
Charge-offs	0	0
Recoveries	0	0
Balance, end of period	$ 0	$ 0

Investment Securities - Unrealized Losses (Details) $ in Thousands	Jun. 30, 2021 USD ($) position	Dec. 31, 2020 USD ($) position
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months	$ 67,025	$ 132,040
12 Months or More	14,200	19,614
Total	81,225	151,654
Unrealized losses, Debt securities available-for-sale
Less than 12 Months	192	684
12 Months or More	383	254
Total	$ 575	$ 938
Available-for-sale, number of positions in an unrealized loss position \| position	11	33
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months	$ 9,531	$ 28,796
12 Months or More	9,804	9,751
Total	19,335	38,547
Unrealized losses, Debt securities available-for-sale
Less than 12 Months	93	277
12 Months or More	196	249
Total	289	526
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months	57,494
12 Months or More	0
Total	57,494
Unrealized losses, Debt securities available-for-sale
Less than 12 Months	99
12 Months or More	0
Total	99
Trust preferred securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months	0	13,313
12 Months or More	4,304	0
Total	4,304	13,313
Unrealized losses, Debt securities available-for-sale
Less than 12 Months	0	198
12 Months or More	186	0
Total	186	198
Agency collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months		0
12 Months or More		9,863
Total		9,863
Unrealized losses, Debt securities available-for-sale
Less than 12 Months		0
12 Months or More		5
Total		5
Agency mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months	0	89,931
12 Months or More	92	0
Total	92	89,931
Unrealized losses, Debt securities available-for-sale
Less than 12 Months	0	209
12 Months or More	1	0
Total	$ 1	$ 209

Investment Securities - Credit Quality Indicator (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	$ 1,014,782
Corporate bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	30,670
Agency debentures
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	129,998
Municipal bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	4,778
Residential mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	230,913
Agency mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	579,374
U.S. treasury notes
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	39,049
Aaa
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	979,334
Aaa \| Corporate bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Aaa \| Agency debentures
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	129,998
Aaa \| Municipal bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Aaa \| Residential mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	230,913
Aaa \| Agency mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	579,374
Aaa \| U.S. treasury notes
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	39,049
Aa
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	3,988
Aa \| Corporate bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Aa \| Agency debentures
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Aa \| Municipal bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	3,988
Aa \| Residential mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Aa \| Agency mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Aa \| U.S. treasury notes
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
A
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	790
A \| Corporate bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
A \| Agency debentures
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
A \| Municipal bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	790
A \| Residential mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
A \| Agency mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
A \| U.S. treasury notes
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Baa
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	30,670
Baa \| Corporate bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	30,670
Baa \| Agency debentures
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Baa \| Municipal bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Baa \| Residential mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Baa \| Agency mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Baa \| U.S. treasury notes
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Ba
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Ba \| Corporate bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Ba \| Agency debentures
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Ba \| Municipal bonds
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Ba \| Residential mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Ba \| Agency mortgage-backed securities
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	0
Ba \| U.S. treasury notes
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt securities held-to-maturity, at amortized cost, net	$ 0

Loans and Leases - Loans Receivable by Class (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 9,282,922	$ 8,237,418
Allowance for credit losses on loans and leases	(32,577)	(34,630)
Loans and leases held-for-investment, net	9,250,345	8,202,788
Loans receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held-for-investment, before deferred fees and costs	9,271,524	8,227,913
Net deferred loan costs (fees)	11,398	9,505
Total	9,282,922	8,237,418
Allowance for credit losses on loans and leases	(32,577)	(34,630)
Loans and leases held-for-investment, net	9,250,345	8,202,788
Private Banking
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,713,562	4,807,800
Allowance for credit losses on loans and leases	(2,107)	(2,047)
Private Banking \| Loans receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held-for-investment, before deferred fees and costs	5,701,419	4,797,881
Net deferred loan costs (fees)	12,143	9,919
Total	5,713,562	4,807,800
Allowance for credit losses on loans and leases	(2,107)	(2,047)
Loans and leases held-for-investment, net	5,711,455	4,805,753
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,240,917	1,274,152
Allowance for credit losses on loans and leases	(8,969)	(5,254)
Commercial and Industrial \| Loans receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held-for-investment, before deferred fees and costs	1,236,054	1,269,248
Net deferred loan costs (fees)	4,863	4,904
Total	1,240,917	1,274,152
Allowance for credit losses on loans and leases	(8,969)	(5,254)
Loans and leases held-for-investment, net	1,231,948	1,268,898
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,328,443	2,155,466
Allowance for credit losses on loans and leases	(21,501)	(27,329)
Commercial Real Estate \| Loans receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held-for-investment, before deferred fees and costs	2,334,051	2,160,784
Net deferred loan costs (fees)	(5,608)	(5,318)
Total	2,328,443	2,155,466
Allowance for credit losses on loans and leases	(21,501)	(27,329)
Loans and leases held-for-investment, net	$ 2,306,942	$ 2,128,137

Loans and Leases - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unfunded commitments	$ 8,510,000		$ 6,730,000
Loans in the process of origination	48,000		39,600
Reserve for losses on unfunded commitments	3,000		3,400
Provision liability	364,000	$ 364,000
Off-balance sheet, credit loss, liability, credit loss expense	396,000	396,000
Standby letters of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unfunded commitments	74,700		$ 82,000
Standby letters of credit drawn during period	$ 5	$ 45

Allowance for Credit Losses on Loans and Leases - Narrative (Details)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2020 position	Jun. 30, 2021 USD ($) portfolio loans	Jun. 30, 2020 USD ($) position	Dec. 31, 2020 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Number of loan portfolios \| portfolio		3
Accrued interest receivable		$ 16,600,000		$ 16,400,000
Past due period for loans (in days)		90 days
Evaluated loans		$ 11,175,000		9,680,000
Interest income on impaired loans		0		0
Loans 90 days or more past due and still accruing		43,000		0
Related allowance on impaired loans		5,586,000		1,988,000
Unused commitments on TDRs		0
Loans modified as TDRs with payment defaults		$ 0	$ 0
Loan newly designated TRD's	0	2	0
Real estate acquired through foreclosure		$ 2,600,000		2,700,000
Write-down on an OREO property				155,000
Mortgage loans in process of foreclosure		$ 0
Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Past due period for loans (in days)		90 days
Private Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Evaluated loans		$ 0		0
Related allowance on impaired loans		$ 0		$ 0
Private Banking \| Cash and marketable securities collateral risk \| Concentration risk, percentage
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of private banking loans secured by cash and marketable securities		98.70%		98.60%
Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Loans modified through troubled debt restructurings		$ 2,400,000		$ 2,900,000

Allowance for Credit Losses on Loans and Leases - Credit Quality Indicator (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 9,282,922,000	$ 8,237,418,000
Revolving loans converted to term loans	0	0
Private Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	21,999,000	64,829,000
Year before current fiscal year	60,956,000	44,726,000
Two years before current fiscal year	32,861,000	57,081,000
Three years before current fiscal year	54,986,000	7,736,000
Four years before current fiscal year	7,213,000	12,040,000
Prior	54,610,000	55,092,000
Revolving Loans	5,480,937,000	4,566,296,000
Total	5,713,562,000	4,807,800,000
Private Banking \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	21,999,000	64,829,000
Year before current fiscal year	60,956,000	44,210,000
Two years before current fiscal year	32,371,000	57,081,000
Three years before current fiscal year	54,986,000	7,736,000
Four years before current fiscal year	7,213,000	12,040,000
Prior	54,610,000	55,092,000
Revolving Loans	5,480,937,000	4,566,296,000
Total	5,713,072,000	4,807,284,000
Private Banking \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Total	0	0
Private Banking \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year before current fiscal year	0	516,000
Two years before current fiscal year	490,000	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Total	490,000	516,000
Private Banking \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Total	0	0
Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	93,243,000	219,004,000
Year before current fiscal year	203,958,000	223,189,000
Two years before current fiscal year	219,185,000	101,503,000
Three years before current fiscal year	76,973,000	44,575,000
Four years before current fiscal year	40,412,000	9,383,000
Prior	27,868,000	20,709,000
Revolving Loans	579,278,000	655,789,000
Total	1,240,917,000	1,274,152,000
Commercial and Industrial \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	93,243,000	216,459,000
Year before current fiscal year	201,555,000	223,189,000
Two years before current fiscal year	219,185,000	88,212,000
Three years before current fiscal year	69,098,000	44,575,000
Four years before current fiscal year	40,412,000	9,383,000
Prior	27,868,000	20,709,000
Revolving Loans	575,213,000	651,900,000
Total	1,226,574,000	1,254,427,000
Commercial and Industrial \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	1,795,000
Year before current fiscal year	1,653,000	0
Two years before current fiscal year	0	5,416,000
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	3,941,000	3,431,000
Total	5,594,000	10,642,000
Commercial and Industrial \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	750,000
Year before current fiscal year	0	0
Two years before current fiscal year	0	7,875,000
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	124,000	458,000
Total	124,000	9,083,000
Commercial and Industrial \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year before current fiscal year	750,000	0
Two years before current fiscal year	0	0
Three years before current fiscal year	7,875,000	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Total	8,625,000	0
Commercial Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	254,610,000	515,457,000
Year before current fiscal year	549,426,000	622,515,000
Two years before current fiscal year	578,107,000	446,312,000
Three years before current fiscal year	404,902,000	204,927,000
Four years before current fiscal year	202,737,000	189,348,000
Prior	310,561,000	138,105,000
Revolving Loans	28,100,000	38,802,000
Total	2,328,443,000	2,155,466,000
Commercial Real Estate \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	254,610,000	514,920,000
Year before current fiscal year	549,228,000	617,120,000
Two years before current fiscal year	572,712,000	435,708,000
Three years before current fiscal year	404,876,000	202,001,000
Four years before current fiscal year	200,338,000	181,108,000
Prior	299,341,000	134,700,000
Revolving Loans	28,100,000	38,802,000
Total	2,309,205,000	2,124,359,000
Commercial Real Estate \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	446,000
Year before current fiscal year	0	5,395,000
Two years before current fiscal year	0	4,308,000
Three years before current fiscal year	0	0
Four years before current fiscal year	0	1,186,000
Prior	2,409,000	145,000
Revolving Loans	0	0
Total	2,409,000	11,480,000
Commercial Real Estate \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	91,000
Year before current fiscal year	198,000	0
Two years before current fiscal year	5,395,000	6,296,000
Three years before current fiscal year	26,000	2,926,000
Four years before current fiscal year	2,399,000	7,054,000
Prior	8,811,000	3,260,000
Revolving Loans	0	0
Total	16,829,000	19,627,000
Commercial Real Estate \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Total	0	0
Loans And Leases Held-For-Investment
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	369,852,000	799,290,000
Year before current fiscal year	814,340,000	890,430,000
Two years before current fiscal year	830,153,000	604,896,000
Three years before current fiscal year	536,861,000	257,238,000
Four years before current fiscal year	250,362,000	210,771,000
Prior	393,039,000	213,906,000
Revolving Loans	6,088,315,000	5,260,887,000
Total	$ 9,282,922,000	$ 8,237,418,000

Allowance for Credit Losses on Loans and Leases - Changes in Allowance (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Allowance for Loan and Lease Losses
Balance, beginning of period	$ 34,644	$ 17,304	$ 34,630	$ 14,108
Provision (credit) for credit losses	186	6,005	399	8,998
Charge-offs	(2,366)	(171)	(2,565)	(171)
Recoveries	113	138	113	341
Balance, end of period	32,577	23,276	32,577	23,276
Private Banking
Allowance for Loan and Lease Losses
Balance, beginning of period	1,767	2,174	2,047	1,973
Provision (credit) for credit losses	340	148	60	349
Charge-offs	0	(171)	0	(171)
Recoveries	0	0	0	0
Balance, end of period	2,107	2,151	2,107	2,151
Commercial and Industrial
Allowance for Loan and Lease Losses
Balance, beginning of period	8,156	6,685	5,254	5,262
Provision (credit) for credit losses	700	723	3,801	1,943
Charge-offs	0	0	(199)	0
Recoveries	113	138	113	341
Balance, end of period	8,969	7,546	8,969	7,546
Commercial Real Estate
Allowance for Loan and Lease Losses
Balance, beginning of period	24,721	8,445	27,329	6,873
Provision (credit) for credit losses	(854)	5,134	(3,462)	6,706
Charge-offs	(2,366)	0	(2,366)	0
Recoveries	0	0	0	0
Balance, end of period	$ 21,501	$ 13,579	$ 21,501	$ 13,579

Allowance for Credit Losses on Loans and Leases - Analysis of Past Due Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	$ 9,282,922	$ 8,237,418
Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	11,642	9,930
30-59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	2,824	3,176
60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	0	0
90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	8,818	6,754
Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	9,271,280	8,227,488
Private Banking
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	5,713,562	4,807,800
Private Banking \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	468	250
Private Banking \| 30-59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	425	250
Private Banking \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	0	0
Private Banking \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	43	0
Private Banking \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	5,713,094	4,807,550
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	1,240,917	1,274,152
Commercial and Industrial \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	8,749	458
Commercial and Industrial \| 30-59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	0	0
Commercial and Industrial \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	0	0
Commercial and Industrial \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	8,749	458
Commercial and Industrial \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	1,232,168	1,273,694
Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	2,328,443	2,155,466
Commercial Real Estate \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	2,425	9,222
Commercial Real Estate \| 30-59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	2,399	2,926
Commercial Real Estate \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	0	0
Commercial Real Estate \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	26	6,296
Commercial Real Estate \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and leases held-for-investment	$ 2,326,018	$ 2,146,244

Allowance for Credit Losses on Loans and Leases - Impaired Loans (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Amortized Cost
With a related allowance	$ 11,175	$ 9,680
Without a related allowance	0	0
Total	11,175	9,680
Unpaid Principal Balance
With a related allowance	13,385	9,708
Without a related allowance	0	0
Total	13,385	9,708
Related Allowance	5,586	1,988
Average Recorded Investment
With a related allowance	18,204	9,680
Without a related allowance	0	0
Total	18,204	9,680
Interest Income Recognized
With a related allowance	0	0
Without a related allowance	0	0
Total	0	0
Private banking
Amortized Cost
With a related allowance	0	0
Without a related allowance	0	0
Total	0	0
Unpaid Principal Balance
With a related allowance	0	0
Without a related allowance	0	0
Total	0	0
Related Allowance	0	0
Average Recorded Investment
With a related allowance	0	0
Without a related allowance	0	0
Total	0	0
Interest Income Recognized
With a related allowance	0	0
Without a related allowance	0	0
Total	0	0
Commercial and industrial
Amortized Cost
With a related allowance	8,750	458
Without a related allowance	0	0
Total	8,750	458
Unpaid Principal Balance
With a related allowance	8,748	457
Without a related allowance	0	0
Total	8,748	457
Related Allowance	5,297	103
Average Recorded Investment
With a related allowance	9,028	458
Without a related allowance	0	0
Total	9,028	458
Interest Income Recognized
With a related allowance	0	0
Without a related allowance	0	0
Total	0	0
Commercial real estate
Amortized Cost
With a related allowance	2,425	9,222
Without a related allowance	0	0
Total	2,425	9,222
Unpaid Principal Balance
With a related allowance	4,637	9,251
Without a related allowance	0	0
Total	4,637	9,251
Related Allowance	289	1,885
Average Recorded Investment
With a related allowance	9,176	9,222
Without a related allowance	0	0
Total	9,176	9,222
Interest Income Recognized
With a related allowance	0	0
Without a related allowance	0	0
Total	$ 0	$ 0

Allowance for Credit Losses on Loans and Leases - Allowance (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually evaluated for impairment	$ 5,586	$ 1,988
Collectively evaluated for impairment	26,991	32,642
Total allowance for credit losses on loans and leases	32,577	34,630
Loans and leases held-for-investment:
Individually evaluated for impairment	11,175	9,680
Collectively evaluated for impairment	9,271,747	8,227,738
Total	9,282,922	8,237,418
Private Banking
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	2,107	2,047
Total allowance for credit losses on loans and leases	2,107	2,047
Loans and leases held-for-investment:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	5,713,562	4,807,800
Total	5,713,562	4,807,800
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually evaluated for impairment	5,297	103
Collectively evaluated for impairment	3,672	5,151
Total allowance for credit losses on loans and leases	8,969	5,254
Loans and leases held-for-investment:
Individually evaluated for impairment	8,750	458
Collectively evaluated for impairment	1,232,167	1,273,694
Total	1,240,917	1,274,152
Commercial Real Estate
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Individually evaluated for impairment	289	1,885
Collectively evaluated for impairment	21,212	25,444
Total allowance for credit losses on loans and leases	21,501	27,329
Loans and leases held-for-investment:
Individually evaluated for impairment	2,425	9,222
Collectively evaluated for impairment	2,326,018	2,146,244
Total	$ 2,328,443	$ 2,155,466

Allowance for Credit Losses on Loans and Leases - Modifications (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020 position	Jun. 30, 2021 USD ($) loans	Jun. 30, 2020 position
Financing Receivable, Troubled Debt Restructuring [Line Items]
Count	0	2	0
Recorded Investment at the time of Modification		$ 4,454
Current Recorded Investment		0
Allowance for Credit Losses on Loans and Leases at the time of Modification		445
Current Allowance for Credit Losses on Loans and Leases		$ 0
Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Count \| loans		2
Recorded Investment at the time of Modification		$ 4,454
Current Recorded Investment		0
Allowance for Credit Losses on Loans and Leases at the time of Modification		445
Current Allowance for Credit Losses on Loans and Leases		$ 0

Deposits - Schedule of Deposits by Type (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Interest Rate Range Domestic Deposit Liabilities [Abstract]
Interest-bearing checking accounts, interest rate minimum	0.05%
Interest-bearing checking accounts, interest rate maximum	1.70%
Money market deposit accounts, interest rate minimum	0.09%
Money market deposit accounts, interest rate maximum	3.25%
Certificates of deposit, interest rate minimum	0.02%
Certificates of deposit, interest rate maximum	3.22%
Weighted Average Interest Rate
Interest-bearing checking accounts	0.37%	0.38%
Money market deposit accounts	0.48%	0.56%
Certificates of deposit	0.48%	1.08%
Weighted average rate on interest-bearing accounts	0.43%	0.56%
Demand and savings accounts:
Noninterest-bearing checking accounts	$ 513,529	$ 456,426
Interest-bearing checking accounts	4,371,659	3,068,834
Money market deposit accounts	4,383,597	3,927,797
Total demand and savings accounts	9,268,785	7,453,057
Certificates of deposit	922,648	1,036,032
Total deposits	$ 10,191,433	$ 8,489,089

Deposits - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Deposits [Abstract]
Brokered deposits	$ 1,070.0	$ 753.3
Reciprocal non-brokered	2,010.0	1,720.0
Certificates of deposit, $100,000 or more, excluding brokered and reciprocal	570.8	534.3
Certificates of deposit, $250,000 or more, excluding brokered and reciprocal	$ 174.3	$ 159.6

Deposits - Contractual Maturities of Time Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Time Deposits, Rolling Year Maturity [Abstract]
12 months or less	$ 752,274	$ 892,427
12 months to 24 months	150,995	132,443
24 months to 36 months	19,379	11,162
Total	$ 922,648	$ 1,036,032

Deposits - Interest Expense on Deposits by Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Deposits [Abstract]
Interest-bearing checking accounts	$ 3,214	$ 2,719	$ 6,008	$ 7,933
Money market deposit accounts	5,636	7,377	11,600	22,031
Certificates of deposit	1,256	5,857	3,252	13,233
Total interest expense on deposits	$ 10,106	$ 15,953	$ 20,860	$ 43,197

Borrowings - Schedule of Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total debt	$ 345,600	$ 400,493
Line of credit borrowings
Debt Instrument [Line Items]
Short term debt interest rate		4.25%
Short-term debt		$ 5,000
Issued 6/21/2021 \| Federal Home Loan Bank advances
Debt Instrument [Line Items]
Short term debt interest rate	0.32%
Short-term debt	$ 50,000
Issued 6/2/2021 \| Federal Home Loan Bank advances
Debt Instrument [Line Items]
Short term debt interest rate	0.29%
Short-term debt	$ 50,000
Issued 6/1/2021 \| Federal Home Loan Bank advances
Debt Instrument [Line Items]
Short term debt interest rate	0.29%
Short-term debt	$ 150,000
Issued 12/21/2020 \| Federal Home Loan Bank advances
Debt Instrument [Line Items]
Short term debt interest rate		0.39%
Short-term debt		$ 50,000
Issued 12/2/2020 \| Federal Home Loan Bank advances
Debt Instrument [Line Items]
Short term debt interest rate		0.33%
Short-term debt		$ 50,000
Issued 12/1/2020 \| Federal Home Loan Bank advances
Debt Instrument [Line Items]
Short term debt interest rate		0.33%
Short-term debt		$ 150,000
Issued 10/8/2020 \| Federal Home Loan Bank advances
Debt Instrument [Line Items]
Short term debt interest rate		0.39%
Short-term debt		$ 50,000
Subordinated Notes Payable 5.75 Percent \| Subordinated notes payable
Debt Instrument [Line Items]
Long term debt interest rate	5.75%	5.75%
Long-term debt	$ 95,600	$ 95,493
Debt issuance costs	$ 1,900	$ 2,007

Borrowings - Narrative (Details) - USD ($)	6 Months Ended		12 Months Ended
Borrowings - Narrative (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Short-term Debt [Line Items]
Net proceeds from issuance of subordinated notes payable	$ 0	$ 95,518,000
Line of credit borrowings
Short-term Debt [Line Items]
Short-term debt			$ 5,000,000
Federal Home Loan Bank
Short-term Debt [Line Items]
Pledged securities, for Federal Home Loan Bank	2,200,000
Bank subsidiary \| Federal Home Loan Bank advances
Short-term Debt [Line Items]
Short-term debt	250,000,000.0		300,000,000.0
Bank subsidiary \| Federal Home Loan Bank
Short-term Debt [Line Items]
Pledged securities, for Federal Home Loan Bank	2,200,000
Pledged loans receivable, for Federal Home Loan Bank	1,370,000,000
Bank subsidiary \| Federal Home Loan Bank \| Line of credit borrowings
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	977,300,000
Bank subsidiary \| M&T Bank \| Line of credit borrowings
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	10,000,000.0
Short-term debt	0		0
Bank subsidiary \| Texas Capital Bank \| Line of credit borrowings
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	20,000,000.0		75,000,000.0
Short-term debt	0		0
Amount outstanding			5,000,000.0
Bank subsidiary \| PNC Bank \| Financial Guarantee
Short-term Debt [Line Items]
Credit cards issued, notional amount	3,200,000
Bank subsidiary \| PNC Bank \| Line of credit borrowings
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	$ 8,000,000.0
Subordinated notes payable \| Subordinated Notes Payable 5.75 Percent
Short-term Debt [Line Items]
Net proceeds from issuance of subordinated notes payable			$ 97,500,000
Debt term			10 years
Long term debt interest rate	5.75%		5.75%

Borrowings - Interest Expense on Borrowings by Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Interest expense on borrowings	$ 2,537	$ 2,224	$ 5,119	$ 4,260
Subordinated notes payable
Debt Instrument [Line Items]
Interest expense on borrowings	1,455	680	2,910	680
FHLB borrowings
Debt Instrument [Line Items]
Interest expense on borrowings	1,082	1,284	2,154	3,319
Line of credit borrowings
Debt Instrument [Line Items]
Interest expense on borrowings	$ 0	$ 260	$ 55	$ 261

Stock Transactions - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Oct. 10, 2020 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 USD ($) $ / shares shares	Dec. 31, 2020 equityInstrument
Class of Stock [Line Items]
Dividends paid				$ 3,936	$ 3,924
Shares repurchased (shares) \| shares				77,555	83,988
Cost of shares repurchased		$ 96	$ 155	$ 1,567	$ 2,734
Treasury stock, acquired cost				1,600	$ 2,100
Canceled (in shares) \| shares					212,447
Payments for cancellation of stock options				0	$ 2,484
Private Placement to T-VIII PubOpps
Class of Stock [Line Items]
Proceeds from warrant exercises	$ 105,000
Additional proceeds if warrants exercised in full	$ 16,100
Number of equity instruments issued \| equityInstrument						3
Common Stock
Class of Stock [Line Items]
Shares repurchased (shares) \| shares					40,000
Common Stock \| Share repurchase program
Class of Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount		$ 9,800		$ 9,800
Shares repurchased (shares) \| shares					40,000
Cost of shares repurchased					$ 670
Average cost per share (usd per share) \| $ / shares					$ 16.76
Common Stock \| Private Placement to T-VIII PubOpps
Class of Stock [Line Items]
Number of shares issued in transaction (in shares) \| shares	2,770,083
Consideration received on transaction	$ 40,000
Number of securities called by warrants (in shares) \| shares	922,438
Exercise price of warrants (in USD per share) \| $ / shares	$ 17.50
Conversion period	2 years
Series C preferred stock
Class of Stock [Line Items]
Shares issued upon conversion (USD per share) \| $ / shares	$ 13.75
Stock dividends (in shares) \| shares				11
Series C preferred stock \| Private Placement to T-VIII PubOpps
Class of Stock [Line Items]
Number of shares issued in transaction (in shares) \| shares	650
Consideration received on transaction	$ 65,000
Liquidation preference (usd per share) \| $ / shares	$ 100,000
Dividend rate	6.75%
Series A Non-Cumulative Perpetual Stock
Class of Stock [Line Items]
Dividends paid				$ 3,900
Fixed-to-floating rate				6.75%
Series B Non-Cumulative Perpetual Preferred Stock
Class of Stock [Line Items]
Fixed-to-floating rate				6.375%
Series A and B Preferred Stock
Class of Stock [Line Items]
Dividends paid					$ 3,900

Stock Transactions - Shares Outstanding Activity (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Number of Shares Outstanding [Rollforward]
Preferred stock dividend	11
Purchase of treasury stock	(77,555)	(83,988)
Treasury Stock
Number of Shares Outstanding [Rollforward]
Balance, beginning of period (shares)	2,299,422	2,126,422
Purchase of treasury stock		40,000
Increase in treasury stock related to equity awards	77,555	83,988
Reissuance of treasury stock		(8,500)
Balance, ending of period (shares)	2,376,977	2,241,910
Preferred Shares
Number of Shares Outstanding [Rollforward]
Balance, beginning of period (shares)	121,400	120,750
Balance, ending of period (shares)	121,411	120,750
Common Stock
Number of Shares Outstanding [Rollforward]
Balance, beginning of period (shares)	32,620,150	29,355,986
Issuance of restricted common stock	595,386	597,070
Forfeitures of restricted common stock	(10,547)	(11,018)
Exercise of stock options	49,500	25,000
Purchase of treasury stock		(40,000)
Increase in treasury stock related to equity awards	(77,555)	(83,988)
Reissuance of treasury stock		8,500
Balance, ending of period (shares)	33,176,934	29,851,550

Regulatory Capital - Narrative (Details)	6 Months Ended
Regulatory Capital - Narrative (Details)	Jun. 30, 2021
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Percentage conservation buffer required for capital adequacy to risk weighted assets, fully phased-in	2.50%

Regulatory Capital - Regulatory Capital Requirements (Details) $ in Thousands	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
Total risk-based capital (Amount)
Total risk-based capital	$ 868,225	$ 833,819
Total risk-based capital required for capital adequacy	$ 498,423	$ 472,267
Total risk-based capital (Ratio)
Total risk-based capital, ratio	0.1394	0.1412
Total risk-based capital required for capital adequacy, ratio	0.0800	0.0800
Tier 1 risk-based capital (Amount)
Tier 1 risk-based capital	$ 743,882	$ 707,711
Tier 1 risk-based capital required for capital adequacy	$ 373,817	$ 354,200
Tier 1 risk-based capital (Ratio)
Tier 1 risk-based capital, ratio	0.1194	0.1199
Tier 1 risk-based capital required for capital adequacy, ratio	0.0600	0.0600
Common Equity Tier One Risk Based Capital (Amount)
Common equity tier 1 risk-based capital	$ 564,539	$ 530,568
Common equity tier 1 risk-based capital required for capital adequacy	$ 280,363	$ 265,650
Common Equity Tier One Risk Based Capital (Ratio)
Common equity tier 1 risk-based capital, ratio	0.0906	0.0899
Common equity tier 1 risk-based capital required for capital adequacy, ratio	4.50%	4.50%
Tier 1 leverage (Amount)
Tier 1 leverage capital	$ 743,882	$ 707,711
Tier 1 leverage capital required for capital adequacy	$ 433,567	$ 388,408
Tier 1 leverage (Ratio)
Tier 1 leverage capital, ratio	0.0686	0.0729
Tier 1 leverage capital required for capital adequacy, ratio	0.0400	0.0400
Bank subsidiary
Total risk-based capital (Amount)
Total risk-based capital	$ 823,458	$ 789,273
Total risk-based capital required for capital adequacy	496,642	470,820
Total risk-based capital required to be well capitalized	$ 620,802	$ 588,525
Total risk-based capital (Ratio)
Total risk-based capital, ratio	0.1326	0.1341
Total risk-based capital required for capital adequacy, ratio	0.0800	0.0800
Total risk-based capital required to be well capitalized, ratio	0.1000	0.1000
Tier 1 risk-based capital (Amount)
Tier 1 risk-based capital	$ 794,715	$ 758,658
Tier 1 risk-based capital required for capital adequacy	372,481	353,115
Tier 1 risk-based capital required to be well capitalized	$ 496,642	$ 470,820
Tier 1 risk-based capital (Ratio)
Tier 1 risk-based capital, ratio	0.1280	0.1289
Tier 1 risk-based capital required for capital adequacy, ratio	0.0600	0.0600
Tier 1 risk-based capital required to be well capitalized, ratio	0.0800	0.0800
Common Equity Tier One Risk Based Capital (Amount)
Common equity tier 1 risk-based capital	$ 794,715	$ 758,658
Common equity tier 1 risk-based capital required for capital adequacy	279,361	264,836
Common equity tier 1 risk-based capital required to be well capitalized	$ 403,521	$ 382,542
Common Equity Tier One Risk Based Capital (Ratio)
Common equity tier 1 risk-based capital, ratio	0.1280	0.1289
Common equity tier 1 risk-based capital required for capital adequacy, ratio	4.50%	4.50%
Common equity tier 1 risk-based capital required to be well capitalized, ratio	6.50%	6.50%
Tier 1 leverage (Amount)
Tier 1 leverage capital	$ 794,715	$ 758,658
Tier 1 leverage capital required for capital adequacy	432,885	387,626
Tier 1 leverage capital required to be well capitalized	$ 541,106	$ 484,533
Tier 1 leverage (Ratio)
Tier 1 leverage capital, ratio	0.0734	0.0783
Tier 1 leverage capital required for capital adequacy, ratio	0.0400	0.0400
Tier 1 leverage capital required to be well capitalized, ratio	0.0500	0.0500

Earnings Per Common Share - Schedule of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 18,780	$ 10,401	$ 34,980	$ 23,296
Preferred stock dividends	3,077	1,962	6,136	3,924
Net income available to common shareholders	15,703	8,439	28,844	19,372
Allocation of net income available:
Common shareholders	13,272	8,439	24,375	19,372
Series C convertible preferred shareholders	2,040	0	3,749	0
Warrant shareholders	$ 391	$ 0	$ 720	$ 0
Basic weighted average common shares outstanding:
Basic weighted average common shares outstanding (shares)	31,280,481	28,223,085	31,252,632	28,201,837
Series C convertible preferred stock, as-if converted (shares)	4,807,272	0	4,807,272	0
Warrants, as-if exercised (shares)	922,438	0	922,438	0
Basic (in usd per share)	$ 0.42	$ 0.30	$ 0.78	$ 0.69
Diluted earnings per common share:
Income available to common shareholders after allocation	$ 13,272	$ 8,439	$ 24,375	$ 19,372
Basic common shares (in shares)	31,280,481	28,223,085	31,252,632	28,201,837
Restricted stock - dilutive (shares)	719,504	221,456	871,255	324,498
Stock options - dilutive (shares)	147,773	83,420	154,395	161,469
Diluted weighted average common shares outstanding (shares)	32,147,758	28,527,961	32,278,282	28,687,804
Diluted (in usd per share)	$ 0.41	$ 0.30	$ 0.76	$ 0.68
Series A and B Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Preferred stock dividends	$ 1,962	$ 1,962	$ 3,924	$ 3,924
Series C preferred stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Preferred stock dividends	$ 1,115	$ 0	$ 2,212	$ 0

Earnings Per Common Share - Anti-Dilutive Shares (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (shares)	5,740,460	869,746	5,741,710	566,498
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (shares)	10,750	864,246	12,000	566,498
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (shares)	0	5,500	0	0
Series C preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (shares)	4,807,272	0	4,807,272	0
Warrants, as-if exercised
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (shares)	922,438	0	922,438	0

Derivatives and Hedging Activity - Financial Position, Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Asset derivatives, fair value	$ 109,374	$ 144,333
Liability derivatives, fair value	114,769	153,433
Other assets
Derivatives, Fair Value [Line Items]
Asset derivatives, fair value	109,374	144,333
Other liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives, fair value	114,769	153,433
Designated as hedging instrument \| Other assets \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Asset derivatives, fair value	218	0
Designated as hedging instrument \| Other liabilities \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Liability derivatives, fair value	5,554	9,082
Not designated as hedging instrument \| Other assets \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Asset derivatives, fair value	109,156	144,333
Not designated as hedging instrument \| Other liabilities \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Liability derivatives, fair value	$ 109,215	$ 144,351

Derivatives and Hedging Activity - Offsetting of Derivative Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Assets	$ 109,374	$ 144,333
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets presented in the Statement of Financial Position	109,374	144,333
Financial Instruments	(8,179)	(94)
Cash Collateral Received	0	0
Net Amount	$ 101,195	$ 144,239

Derivatives and Hedging Activity - Offsetting of Derivative Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Liabilities	$ 114,769	$ 153,433
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities presented in the Statement of Financial Position	114,769	153,433
Financial Instruments	(8,179)	(94)
Cash Collateral Posted	(95,293)	(150,238)
Net Amount	$ 11,297	$ 3,101

Derivatives and Hedging Activity - Interest Rate Derivative Transactions (Details) - Cash flow hedging - Interest rate swaps - Designated as hedging instrument $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($)
Derivative [Line Items]
Notional Amount	$ 250,000
Estimated Increase/ (Decrease) to Interest Expense in the Next Twelve Months	3,373
Issued 5/30/2019, Maturity 6/1/2022
Derivative [Line Items]
Notional Amount	$ 50,000
Effective Rate	2.05%
Estimated Increase/ (Decrease) to Interest Expense in the Next Twelve Months	$ 871
Remaining Term (in Months)	11 months
Issued 5/30/2019, Maturity 6/1/2023
Derivative [Line Items]
Notional Amount	$ 50,000
Effective Rate	2.03%
Estimated Increase/ (Decrease) to Interest Expense in the Next Twelve Months	$ 938
Remaining Term (in Months)	23 months
Issued 5/30/2019, Maturity 6/1/2024
Derivative [Line Items]
Notional Amount	$ 50,000
Effective Rate	2.04%
Estimated Increase/ (Decrease) to Interest Expense in the Next Twelve Months	$ 944
Remaining Term (in Months)	35 months
Issued 3/2/2020, Maturity 3/2/2025
Derivative [Line Items]
Notional Amount	$ 50,000
Effective Rate	0.98%
Estimated Increase/ (Decrease) to Interest Expense in the Next Twelve Months	$ 406
Remaining Term (in Months)	44 months
Issued 3/20/2020, Maturity 3/20/2025
Derivative [Line Items]
Notional Amount	$ 50,000
Effective Rate	0.60%
Estimated Increase/ (Decrease) to Interest Expense in the Next Twelve Months	$ 214
Remaining Term (in Months)	45 months

Derivatives and Hedging Activity - Gain (Loss) in Statement of Financial Performance (Details) - Interest rate swaps - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Not designated as hedging instrument \| Non-interest income
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ (8)	$ (4)	$ 23	$ (66)
Cash flow hedging \| Designated as hedging instrument \| Interest expense
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	(867)	(460)	(1,713)	(619)
Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income on Derivatives	$ (409)	$ (1,578)	$ 1,807	$ (9,290)

Derivatives and Hedging Activity - Narrative (Details) - Interest rate swaps $ in Millions	Jun. 30, 2021 USD ($)
Derivatives, Fair Value [Line Items]
Termination value of derivatives, including accrued interest, in a net liability position	$ 95.6
Collateral already posted amount	100.9
Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Derivative, aggregate notional amount	$ 4,330.0

Disclosures About Fair Value of Financial Instruments - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financial assets:
Debt securities available-for-sale	$ 311,129	$ 617,570
Level 2
Financial assets:
Debt securities available-for-sale	311,129	617,570
Fair value, measurements, recurring
Financial assets:
Total financial assets	420,503	761,903
Financial liabilities:
Total financial liabilities	114,769	153,433
Fair value, measurements, recurring \| Level 1
Financial assets:
Total financial assets	0	0
Financial liabilities:
Total financial liabilities	0	0
Fair value, measurements, recurring \| Level 2
Financial assets:
Total financial assets	420,503	761,903
Financial liabilities:
Total financial liabilities	114,769	153,433
Fair value, measurements, recurring \| Level 3
Financial assets:
Total financial assets	0	0
Financial liabilities:
Total financial liabilities	0	0
Fair value, measurements, recurring \| Interest rate swaps
Financial assets:
Interest rate swaps	109,374	144,333
Financial liabilities:
Interest rate swaps	114,769	153,433
Fair value, measurements, recurring \| Interest rate swaps \| Level 1
Financial assets:
Interest rate swaps	0	0
Financial liabilities:
Interest rate swaps	0	0
Fair value, measurements, recurring \| Interest rate swaps \| Level 2
Financial assets:
Interest rate swaps	109,374	144,333
Financial liabilities:
Interest rate swaps	114,769	153,433
Fair value, measurements, recurring \| Interest rate swaps \| Level 3
Financial assets:
Interest rate swaps	0	0
Financial liabilities:
Interest rate swaps	0	0
Fair value, measurements, recurring \| Corporate bonds
Financial assets:
Debt securities available-for-sale	137,170	158,464
Fair value, measurements, recurring \| Corporate bonds \| Level 1
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Corporate bonds \| Level 2
Financial assets:
Debt securities available-for-sale	137,170	158,464
Fair value, measurements, recurring \| Corporate bonds \| Level 3
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Residential mortgage-backed securities
Financial assets:
Debt securities available-for-sale	97,551
Fair value, measurements, recurring \| Residential mortgage-backed securities \| Level 1
Financial assets:
Debt securities available-for-sale	0
Fair value, measurements, recurring \| Residential mortgage-backed securities \| Level 2
Financial assets:
Debt securities available-for-sale	97,551
Fair value, measurements, recurring \| Residential mortgage-backed securities \| Level 3
Financial assets:
Debt securities available-for-sale	0
Fair value, measurements, recurring \| Trust preferred securities
Financial assets:
Debt securities available-for-sale	18,426	18,087
Fair value, measurements, recurring \| Trust preferred securities \| Level 1
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Trust preferred securities \| Level 2
Financial assets:
Debt securities available-for-sale	18,426	18,087
Fair value, measurements, recurring \| Trust preferred securities \| Level 3
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Agency collateralized mortgage obligations
Financial assets:
Debt securities available-for-sale	19,136	22,089
Fair value, measurements, recurring \| Agency collateralized mortgage obligations \| Level 1
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Agency collateralized mortgage obligations \| Level 2
Financial assets:
Debt securities available-for-sale	19,136	22,089
Fair value, measurements, recurring \| Agency collateralized mortgage obligations \| Level 3
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Agency mortgage-backed securities
Financial assets:
Debt securities available-for-sale	25,292	410,127
Fair value, measurements, recurring \| Agency mortgage-backed securities \| Level 1
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Agency mortgage-backed securities \| Level 2
Financial assets:
Debt securities available-for-sale	25,292	410,127
Fair value, measurements, recurring \| Agency mortgage-backed securities \| Level 3
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Agency debentures
Financial assets:
Debt securities available-for-sale	8,346	8,803
Fair value, measurements, recurring \| Agency debentures \| Level 1
Financial assets:
Debt securities available-for-sale	0	0
Fair value, measurements, recurring \| Agency debentures \| Level 2
Financial assets:
Debt securities available-for-sale	8,346	8,803
Fair value, measurements, recurring \| Agency debentures \| Level 3
Financial assets:
Debt securities available-for-sale	0	$ 0
Fair value, measurements, recurring \| Municipal bonds
Financial assets:
Debt securities available-for-sale	5,208
Fair value, measurements, recurring \| Municipal bonds \| Level 1
Financial assets:
Debt securities available-for-sale	0
Fair value, measurements, recurring \| Municipal bonds \| Level 2
Financial assets:
Debt securities available-for-sale	5,208
Fair value, measurements, recurring \| Municipal bonds \| Level 3
Financial assets:
Debt securities available-for-sale	$ 0

Disclosures About Fair Value of Financial Instruments - Fair Value Measurements, Nonrecurring (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Level 3
Financial assets:
Other real estate owned	$ 2,568	$ 2,724
Fair value, measurements, nonrecurring
Financial assets:
Loans measured for impairment, net	5,589	7,692
Other real estate owned	2,568	2,724
Total assets	8,157	10,416
Fair value, measurements, nonrecurring \| Level 1
Financial assets:
Loans measured for impairment, net	0	0
Other real estate owned	0	0
Total assets	0	0
Fair value, measurements, nonrecurring \| Level 2
Financial assets:
Loans measured for impairment, net	0	0
Other real estate owned	0	0
Total assets	0	0
Fair value, measurements, nonrecurring \| Level 3
Financial assets:
Loans measured for impairment, net	5,589	7,692
Other real estate owned	2,568	2,724
Total assets	$ 8,157	$ 10,416

Disclosures About Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Specific allowance for loan losses	$ 5,586	$ 1,988

Disclosures About Fair Value of Financial Instruments - Fair Value Inputs, Assets, Quantitative Information (Details) - Level 3 $ in Thousands	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
Loans measured for impairment, net \| Collateral
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 2,139	$ 7,692
Loans measured for impairment, net \| Collateral \| Appraisal value and discount due to salability conditions
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Discount Rate	0.03	0.23
Loans measured for impairment, net \| Market Approach
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 3,450
Loans measured for impairment, net \| Market Approach \| Market value and discount due to salability conditions
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Discount Rate	0.33
Other real estate owned \| Collateral
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 2,568	$ 2,724
Other real estate owned \| Collateral \| Appraisal value and discount due to salability conditions
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned	0.17	0.12

Disclosures About Fair Value of Financial Instruments - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financial assets:
Debt securities available-for-sale	$ 311,129	$ 617,570
Debt securities held-to-maturity	1,010,134	214,299
Investment management fees receivable, net	8,580	7,935
Interest rate swaps	109,374	144,333
Financial liabilities:
Derivative liability	114,769	153,433
Level 1
Financial assets:
Cash and cash equivalents	529,453	435,442
Level 2
Financial assets:
Debt securities available-for-sale	311,129	617,570
Debt securities held-to-maturity	1,010,135	214,299
Federal Home Loan Bank stock	11,817	13,284
Accrued interest receivable	19,814	18,783
Investment management fees receivable, net	8,580	7,935
Bank owned life insurance	97,695	71,787
Financial liabilities:
Deposits	10,204,889	8,510,799
Borrowings, net	354,653	402,714
Level 2 \| Interest rate swaps
Financial assets:
Interest rate swaps	109,374	144,333
Financial liabilities:
Derivative liability	114,769	153,433
Level 3
Financial assets:
Loans and leases held-for-investment, net	9,241,724	8,199,922
Other real estate owned	2,568	2,724
Carrying amount \| Level 1
Financial assets:
Cash and cash equivalents	529,453	435,442
Carrying amount \| Level 2
Financial assets:
Debt securities available-for-sale	311,129	617,570
Debt securities held-to-maturity	1,014,712	211,691
Federal Home Loan Bank stock	11,817	13,284
Accrued interest receivable	19,814	18,783
Investment management fees receivable, net	8,580	7,935
Bank owned life insurance	97,695	71,787
Financial liabilities:
Deposits	10,191,433	8,489,089
Borrowings, net	345,600	400,493
Carrying amount \| Level 2 \| Interest rate swaps
Financial assets:
Interest rate swaps	109,374	144,333
Financial liabilities:
Derivative liability	114,769	153,433
Carrying amount \| Level 3
Financial assets:
Loans and leases held-for-investment, net	9,250,345	8,202,788
Other real estate owned	$ 2,568	$ 2,724

Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	$ 774,286	$ 614,380	$ 757,145	$ 621,281
Change in unrealized holding gains (losses)	(38)	7,175	691	(8,115)
Losses (gains) reclassified from other comprehensive income	733	344	1,374	453
Net other comprehensive income (loss)	695	7,519	2,065	(7,662)
Ending balance	794,568	632,831	794,568	632,831
Debt Securities
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	2,879	(6,678)	3,834	2,756
Change in unrealized holding gains (losses)	273	8,375	(681)	(1,048)
Losses (gains) reclassified from other comprehensive income	75	(5)	74	(16)
Net other comprehensive income (loss)	348	8,370	(607)	(1,064)
Ending balance	3,227	1,692	3,227	1,692
Derivatives
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	(4,206)	(7,371)	(6,531)	(1,624)
Change in unrealized holding gains (losses)	(311)	(1,200)	1,372	(7,067)
Losses (gains) reclassified from other comprehensive income	658	349	1,300	469
Net other comprehensive income (loss)	347	(851)	2,672	(6,598)
Ending balance	(3,859)	(8,222)	(3,859)	(8,222)
Total
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	(1,327)	(14,049)	(2,697)	1,132
Net other comprehensive income (loss)	695	7,519	2,065	(7,662)
Ending balance	$ (632)	$ (6,530)	$ (632)	$ (6,530)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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+ Details

Segments - Schedule of Segment Reporting Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) segment	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			2
Total assets	$ 11,541,172		$ 11,541,172		$ 9,896,816
Income statement data:
Interest income	55,555	$ 51,661	107,547	$ 115,863
Interest expense	12,643	18,177	25,979	47,457
Net interest income	42,912	33,484	81,568	68,406
Provision for credit losses	96	6,005	320	8,998
Net interest income after provision for credit losses	42,816	27,479	81,248	59,408
Non-interest income:
Net gain on the sale and call of debt securities	98	14	97	71
Other non-interest income	5,295	5,245	9,947	10,866
Total non-interest income	14,844	12,997	28,495	26,313
Non-interest expense:
Intangible amortization expense	478	486	956	988
Other non-interest expense	33,947	27,610	64,747	56,252
Total non-interest expense	34,425	28,096	65,703	57,240
Income before tax	23,235	12,380	44,040	28,481
Income tax expense (benefit)	4,455	1,979	9,060	5,185
Net income	18,780	10,401	34,980	23,296
Investment management fees
Non-interest income:
Total non-interest income	9,451	7,738	18,451	15,376
Parent and other
Segment Reporting Information [Line Items]
Total assets	(7,378)		(7,378)		(9,053)
Income statement data:
Interest income	0	0	0	0
Interest expense	1,444	926	2,941	910
Net interest income	(1,444)	(926)	(2,941)	(910)
Provision for credit losses	0	0	0	0
Net interest income after provision for credit losses	(1,444)	(926)	(2,941)	(910)
Non-interest income:
Net gain on the sale and call of debt securities	0	0	0	0
Other non-interest income	0	0	0	0
Total non-interest income	(323)	(159)	(558)	(286)
Non-interest expense:
Intangible amortization expense	0	0	0	0
Other non-interest expense	551	640	1,254	1,622
Total non-interest expense	551	640	1,254	1,622
Income before tax	(2,318)	(1,725)	(4,753)	(2,818)
Income tax expense (benefit)	(396)	(296)	(830)	(466)
Net income	(1,922)	(1,429)	(3,923)	(2,352)
Parent and other \| Investment management fees
Non-interest income:
Total non-interest income	(323)	(159)	(558)	(286)
Bank \| Operating segments
Segment Reporting Information [Line Items]
Total assets	11,461,329		11,461,329		9,819,719
Income statement data:
Interest income	55,555	51,661	107,547	115,863
Interest expense	11,199	17,251	23,038	46,547
Net interest income	44,356	34,410	84,509	69,316
Provision for credit losses	96	6,005	320	8,998
Net interest income after provision for credit losses	44,260	28,405	84,189	60,318
Non-interest income:
Net gain on the sale and call of debt securities	98	14	97	71
Other non-interest income	5,283	5,215	9,915	10,866
Total non-interest income	5,381	5,229	10,012	10,937
Non-interest expense:
Intangible amortization expense	0	0	0	0
Other non-interest expense	25,570	19,967	48,225	41,000
Total non-interest expense	25,570	19,967	48,225	41,000
Income before tax	24,071	13,667	45,976	30,255
Income tax expense (benefit)	4,565	2,173	9,294	5,521
Net income	19,506	11,494	36,682	24,734
Bank \| Operating segments \| Investment management fees
Non-interest income:
Total non-interest income	0	0	0	0
Investment management \| Operating segments
Segment Reporting Information [Line Items]
Total assets	87,221		87,221		$ 86,150
Income statement data:
Interest income	0	0	0	0
Interest expense	0	0	0	0
Net interest income	0	0	0	0
Provision for credit losses	0	0	0	0
Net interest income after provision for credit losses	0	0	0	0
Non-interest income:
Net gain on the sale and call of debt securities	0	0	0	0
Other non-interest income	12	30	32	0
Total non-interest income	9,786	7,927	19,041	15,662
Non-interest expense:
Intangible amortization expense	478	486	956	988
Other non-interest expense	7,826	7,003	15,268	13,630
Total non-interest expense	8,304	7,489	16,224	14,618
Income before tax	1,482	438	2,817	1,044
Income tax expense (benefit)	286	102	596	130
Net income	1,196	336	2,221	914
Investment management \| Operating segments \| Investment management fees
Non-interest income:
Total non-interest income	$ 9,774	$ 7,897	$ 19,009	$ 15,662

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Jul. 13, 2021	Jun. 30, 2021	Jul. 31, 2021
Series A preferred stock \| Subsequent Event
Subsequent Event [Line Items]
Dividend payable	$ 679
Series A depositary share \| Subsequent Event
Subsequent Event [Line Items]
Dividends payable (usd per share)			$ 0.42
Series B preferred stock \| Subsequent Event
Subsequent Event [Line Items]
Dividend payable	$ 1,300
Series B depositary share \| Subsequent Event
Subsequent Event [Line Items]
Dividends payable (usd per share)	$ 0.40
Series C preferred stock
Subsequent Event [Line Items]
Stock dividends (in shares)		11
Series C preferred stock \| Subsequent Event
Subsequent Event [Line Items]
Stock dividends (in shares)	11