Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2025	Aug. 04, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2025
Document Transition Report	false
Entity File Number	001-36461
Entity Registrant Name	FIRST FOUNDATION INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8639702
Entity Address, Address Line One	5221 N. O’Connor Blvd
Entity Address, Address Line Two	Suite 1375
Entity Address, City or Town	Irving
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75039
City Area Code	469
Local Phone Number	638-9636
Title of 12(b) Security	Common Stock
Trading Symbol	FFWM
Security Exchange Name	NYSE
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		82,386,071
Amendment Flag	false
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001413837

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 1,055,614	$ 1,016,132
Securities available-for-sale ("AFS"), at fair value (amortized cost of $1,485,810 and $1,335,225 at June 30, 2025 and December 31, 2024 respectively; net of allowance for credit losses of $651 and $4,134 at June 30, 2025 and December 31, 2024 respectively)	1,469,122	1,313,885
Securities held-to-maturity ("HTM") (fair value of $604,367 and $636,840 at June 30, 2025 and December 31, 2024, respectively)	663,807	712,105
Loans held for sale ("LHFS")	476,727	1,285,819
Loans held for investment	7,548,323	7,941,393
Less: Allowance for credit losses	(37,560)	(32,302)
Total loans held for investment, net	7,510,763	7,909,091
Investment in Federal Home Loan Bank ("FHLB") stock	50,077	37,869
Accrued interest receivable	50,538	54,804
Deferred taxes	87,006	76,650
Premises and equipment, net	35,890	35,806
Real estate owned ("REO")	6,210	6,210
Bank owned life insurance	50,686	49,993
Core deposit intangibles	2,947	3,558
Derivative assets		5,086
Other assets	128,975	138,257
Total Assets	11,588,362	12,645,265
Liabilities:
Deposits	8,593,693	9,870,279
Borrowings	1,669,315	1,425,369
Subordinated debt	173,490	173,459
Derivative liabilities	8,689
Accounts payable and other liabilities	92,549	122,795
Total Liabilities	10,537,736	11,591,902
Shareholders' Equity
Preferred stock, $0.001 par value, 29,811 shares issued and outstanding at June 30, 2025 and December 31, 2024	87,649	87,649
Common stock, $0.001 par value; 200,000,000 shares authorized at June 30, 2025 and December 31, 2024; 82,386,071 shares and 82,365,388 shares issued and outstanding, respectively	82	82
Additional paid-in-capital	852,982	849,509
Retained earnings	124,244	125,038
Accumulated other comprehensive loss	(14,331)	(8,915)
Total Shareholders' Equity	1,050,626	1,053,363
Total Liabilities and Shareholders' Equity	$ 11,588,362	$ 12,645,265

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
CONSOLIDATED BALANCE SHEETS
Amortized Cost	$ 1,485,810	$ 1,335,225
Allowance for credit losses	651	4,134
Securities HTM	$ 604,367	$ 636,840
Preferred stock par or stated value per share	$ 0.001	$ 0.001
Preferred stock, shares issued	29,811	29,811
Preferred stock, shares outstanding	29,811	29,811
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	82,386,071	82,365,388
Common stock, shares outstanding	82,386,071	82,365,388

CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Interest income:
Loans	$ 100,166	$ 120,244	$ 206,666	$ 238,688
Securities	23,646	17,975	44,741	37,749
FHLB Stock, fed funds sold and interest-bearing deposits	13,313	12,695	27,460	24,930
Total interest income	137,125	150,914	278,867	301,367
Interest expense:
Deposits	67,318	91,388	140,637	185,880
Borrowings	18,020	13,992	32,954	29,862
Subordinated debt	1,705	1,705	3,395	3,410
Total interest expense	87,043	107,085	176,986	219,152
Net interest income	50,082	43,829	101,881	82,215
Provision (reversal) for credit losses	2,366	(806)	5,783	(229)
Net interest income after provision for credit losses	47,716	44,635	96,098	82,444
Noninterest income:
Asset management, consulting and other fees	$ 8,601	$ 9,183	$ 17,520	$ 17,797
Type of Revenue [Extensible List]	us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember	us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember	us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember	us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember
(Loss) gain on sale of loans	$ (10,405)	$ 415	$ (10,405)	$ 678
Gain on sale of securities available-for-sale		983	4,702	1,204
Capital market activities	(289)	836	2,542	1,673
Gain on sale of REO				679
Other income	3,431	2,241	6,581	4,310
Total noninterest income	1,338	13,658	20,940	26,341
Noninterest expense:
Compensation and benefits	22,890	19,095	47,998	38,502
Occupancy and depreciation	8,333	9,026	16,778	18,113
Professional services and marketing costs	7,238	3,667	13,145	7,057
Customer service costs	12,983	16,104	28,034	26,842
Other expenses	8,480	7,737	15,690	15,724
Total noninterest expense	59,924	55,629	121,645	106,238
(Loss) income before income taxes	(10,870)	2,664	(4,607)	2,547
Income tax benefit	(3,180)	(421)	(3,813)	(1,331)
Net (loss) income	$ (7,690)	$ 3,085	$ (794)	$ 3,878
Net income per share:
Basic (in dollars per share)	$ (0.09)	$ 0.05	$ (0.01)	$ 0.07
Diluted (in dollars per share)	$ (0.09)	$ 0.05	$ (0.01)	$ 0.07
Shares used in computation:
Basic (in shares)	82,386,071	56,523,640	82,379,878	56,504,148
Diluted (in shares)	82,386,071	56,532,465	82,379,878	56,515,844

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED - USD ($) $ in Thousands	Common Stock	Preferred Stock	Convertible Warrants	Additional Paid-in-Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Beginning balance at Dec. 31, 2023	$ 56			$ 720,899	$ 218,575	$ (14,187)	$ 925,343
Beginning balance (in shares) at Dec. 31, 2023	56,467,623
Net (loss) income					3,878		3,878
Other comprehensive income (loss)						4,239	4,239
Stock based compensation				1,057			1,057
Cash dividend					(1,132)		(1,132)
Stock grants - vesting of restricted stock units	$ 1						1
Stock grants - vesting of restricted stock units (in shares)	93,780
Repurchase of shares from restricted shares vesting				(142)			(142)
Repurchase of shares from restricted shares vesting (in shares)	(18,021)
Ending balance at Jun. 30, 2024	$ 57			721,814	221,321	(9,948)	933,244
Ending balance (in shares) at Jun. 30, 2024	56,543,382
Beginning balance at Mar. 31, 2024	$ 57			721,362	218,802	(11,487)	928,734
Beginning balance (in shares) at Mar. 31, 2024	56,511,864
Net (loss) income					3,085		3,085
Other comprehensive income (loss)						1,539	1,539
Stock based compensation				452			452
Cash dividend					(566)		(566)
Stock grants - vesting of restricted stock units (in shares)	31,518
Ending balance at Jun. 30, 2024	$ 57			721,814	221,321	(9,948)	933,244
Ending balance (in shares) at Jun. 30, 2024	56,543,382
Beginning balance at Dec. 31, 2024	$ 82	$ 87,649	$ 51,004	798,505	125,038	(8,915)	1,053,363
Beginning balance (in shares) at Dec. 31, 2024	82,365,388	29,811	6
Net (loss) income					(794)		(794)
Other comprehensive income (loss)						(5,416)	(5,416)
Stock based compensation				3,473			3,473
Stock grants - vesting of restricted stock units (in shares)	28,312
Repurchase of shares from restricted shares vesting (in shares)	(7,629)
Ending balance at Jun. 30, 2025	$ 82	$ 87,649	$ 51,004	801,978	124,244	(14,331)	1,050,626
Ending balance (in shares) at Jun. 30, 2025	82,386,071	29,811	6
Beginning balance at Mar. 31, 2025	$ 82	$ 87,649	$ 51,004	800,142	131,935	(10,201)	1,060,611
Beginning balance (in shares) at Mar. 31, 2025	82,386,071	29,811	6
Net (loss) income					(7,690)		(7,690)
Other comprehensive income (loss)						(4,130)	(4,130)
Stock based compensation				1,836			1,836
Other					(1)		(1)
Ending balance at Jun. 30, 2025	$ 82	$ 87,649	$ 51,004	$ 801,978	$ 124,244	$ (14,331)	$ 1,050,626
Ending balance (in shares) at Jun. 30, 2025	82,386,071	29,811	6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - UNAUDITED - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net (loss) income	$ (7,690)	$ 3,085	$ (794)	$ 3,878
Other comprehensive (loss) income, net of tax:
Unrealized holding (losses) gains on securities arising during the period	(1,611)	1,282	4,154	(966)
Reclassification adjustment for gain included in net income		(695)	(3,327)	(852)
Total change in unrealized (loss) gain on available-for-sale securities	(1,611)	587	827	(1,818)
Unrealized (loss) gain on cash flow hedge arising during this period	(2,257)	1,068	(5,760)	6,267
Amortization of unrealized (loss) gain on securities transferred from available-for-sale to held-to-maturity	(262)	(116)	(483)	(210)
Total other comprehensive (loss) income	(4,130)	1,539	(5,416)	4,239
Total comprehensive (loss) income	$ (11,820)	$ 4,624	$ (6,210)	$ 8,117

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Cash Flows from Operating Activities:
Net (loss) income	$ (794)	$ 3,878
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Provision (reversal) for credit losses - loans	6,417	952
Provision (reversal) for credit losses - securities AFS	(66)	(878)
Stock-based compensation expense	3,473	1,057
Depreciation and amortization	2,217	2,384
Deferred tax benefit	(8,434)	(6,599)
Amortization of premium (discount) on securities	1,855	(11,112)
Amortization of core deposit intangible	611	726
Amortization of mortgage servicing rights - net	3,284	1,138
Gain on sale of REO		(679)
Loss (gain) on sale of loans	10,405	(678)
Gain on sale of securities available-for-sale	(4,702)	(1,204)
Loss (gain) from hedging activities	7,110	(1,673)
Change in fair value of LHFS	(15,403)
Amortization of OCI - securities transfer to HTM	(483)	(210)
Decrease in accrued interest receivable and other assets	6,633	10,259
(Decrease) increase in accounts payable and other liabilities	(28,931)	728
Net cash used in operating activities	(16,808)	(1,911)
Cash Flows from Investing Activities:
Net decrease in loans	399,346	81,580
Proceeds from sale of loans	806,919	8,770
Proceeds from sale of REO		2,850
Purchase of premises and equipment	(2,387)	(1,536)
Disposals of premises and equipment	86	1
Proceeds from sale of land		1,650
Loss on sale of land		391
Purchases of securities AFS	(703,278)	(1,564,389)
Proceeds from sale of securities available-for-sale	470,940	749,020
Maturities of securities AFS	85,519	423,979
Maturities of securities HTM	47,378	33,984
Impairment of securities AFS	(3,416)
Net increase in FHLB stock	(12,208)	(13,197)
Net cash provided by (used in) investing activities	1,088,899	(276,897)
Cash Flows from Financing Activities:
(Decrease) increase in deposits	(1,276,586)	67,412
Proceeds from FHLB & FRB advances	1,600,000	2,793,475
Repayments on FHLB & FRB advances	(1,350,000)	(2,465,402)
Net increase in subordinated debt	31	31
Net decrease in repurchase agreements	(6,054)	(20,577)
Dividends paid		(1,132)
Repurchase of stock		(142)
Net cash (used in) provided by financing activities	(1,032,609)	373,665
Increase in cash and cash equivalents	39,482	94,857
Cash and cash equivalents at beginning of year	1,016,132	1,326,629
Cash and cash equivalents at end of period	1,055,614	1,421,486
Supplemental disclosures of cash flow information:
Income taxes		270
Interest	158,710	181,281
Noncash transactions:
Right of use lease assets and liabilities recognized		3,608
Chargeoffs against allowance for credit losses - loans	895	$ 862
Chargeoffs against allowance for credit losses - securities	3,361
Mortgage servicing rights from loan sales	$ 2,574

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations and Principles of Consolidation

First Foundation Inc. (“FFI”) is a financial services holding company whose operations are conducted through its wholly owned subsidiaries: First Foundation Advisors (“FFA”) and First Foundation Bank (“FFB” or the “Bank”) and the wholly owned subsidiaries of FFB, First Foundation Public Finance (“FFPF”), First Foundation Insurance Services (“FFIS”) and Blue Moon Management, LLC (collectively the “Company”). FFI also has two inactive wholly owned subsidiaries, First Foundation Consulting and First Foundation Advisors, LLC. FFI is incorporated in the state of Delaware. The corporate headquarters for FFI is located in Irving, Texas. The Company provides a comprehensive platform of financial services to individuals, businesses and other organizations and has offices in California, Nevada, Florida, Texas, and Hawaii.

The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and prevailing practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates.

The accompanying unaudited consolidated financial statements include the accounts of the Company as of June 30, 2025 and December 31, 2024, and for the six months ended June 30, 2025 and 2024, and include all information and footnotes required for interim financial reporting presentation. All intercompany accounts and transactions have been eliminated in consolidation. The results for the 2025 interim periods are not necessarily indicative of the results expected for the full year. These financial statements assume that readers have read the most recent Annual Report on Form 10-K filed with the SEC which contains the latest available audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2024.

Significant Accounting Policies

The accounting and reporting policies of the Company are based upon GAAP and conform to predominant practices within the banking industry. We have not made any changes in our significant accounting policies from those disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC.

New Accounting Pronouncements

Recent Accounting Guidance Not Yet Effective

In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (Topic 740 – Improvements to Income Tax Disclosures. The FASB issued this Update to enhance the transparency and decision usefulness of income tax disclosures. The amendments to this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid. The amendments in this Update are effective for annual periods beginning after December 15, 2024, and are not expected to have a material impact on the Company’s consolidated financial statements.

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2025

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

NOTE 2: FAIR VALUE MEASUREMENTS

Assets Measured at Fair Value on a Recurring Basis

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Current accounting guidance establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s estimates for market assumptions. These two types of inputs create the following fair value hierarchy:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. An active market is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever possible.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Valuations may be determined using pricing models, discounted cash flow methodologies, or similar techniques.

The following tables show the recorded amounts of assets and liabilities measured at fair value on a recurring basis as of:


			Fair Value Measurement Level
(dollars in thousands)	Total		Level 1		Level 2		Level 3
June 30, 2025:
Investment securities available-for-sale:
Collateralized mortgage obligations	$	204,419	$	—	$	204,419	$	—
Agency mortgage-backed securities		1,089,071		—		1,089,071		—
Municipal bonds		46,209		—		46,209		—
SBA securities		7,889		—		7,889		—
Beneficial interests in FHLMC securitization		841		—		—		841
Corporate bonds		119,701		—		119,701		—
U.S. Treasury		992		992		—		—
Total investment securities available for sale at fair value on a recurring basis	$	1,469,122	$	992	$	1,467,289	$	841

Derivative liabilities:
Interest rate swap and cash flow hedge	$	8,689	$	—	$	8,689	$	—

December 31, 2024:
Investment securities available-for-sale:
Collateralized mortgage obligations	$	9,842	$	—	$	9,842	$	—
Agency mortgage-backed securities		1,121,626		—		1,121,626		—
Municipal bonds		45,535		—		45,535		—
SBA securities		9,145		—		9,145		—
Beneficial interests in FHLMC securitization		1,242		—		—		1,242
Corporate bonds		125,817		14,100		111,717		—
U.S. Treasury		678		678		—		—
Total investment securities available for sale at fair value on a recurring basis	$	1,313,885	$	14,778	$	1,297,865	$	1,242

Derivatives assets:
Cash flow hedge	$	5,086	$	—	$	5,086	$	—

The decrease in Level 3 assets from December 31, 2024 was due to securitization paydowns in the FHLMC portfolio in the year-to-date period ended June 30, 2025.

Assets Measured at Fair Value on a Nonrecurring Basis

From time to time, we may be required to measure other assets at fair value on a nonrecurring basis. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets.

Loans. Loans measured at fair value on a nonrecurring basis include collateral dependent loans held for investment. The specific reserves for these loans are based on collateral value, net of estimated disposition costs and other identified quantitative inputs. Collateral value is determined based on independent third-party appraisals or internally-developed discounted cash flow analyses. Internal discounted cash flow analyses are also utilized to estimate the fair value of these loans, which considers internally-developed, unobservable inputs such as discount rates, default rates, and loss severity. When the fair value of the collateral is based on an observable market price or a current appraised value, we

measure the impaired loan at nonrecurring Level 2. When an appraised value is not available, or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price or a discounted cash flow has been used to determine the fair value, we measure the collateral-dependent loan at nonrecurring Level 3. Loans for which an appraised value is not available include commercial loans which are secured by non-real estate assets such as accounts receivable and inventory. To establish fair value for these loans, we apply a recovery factor against eligible receivables and inventory. This recovery factor may be either increased or decreased subject to additional support and analysis of the quality of receivables and the companies owing the receivables. The total collateral-dependent loans were $26.2 million and $27.0 million at June 30, 2025 and December 31, 2024, respectively. Specific reserves related to these loans totaled $0.5 million and $0.7 million at June 30, 2025 and December 31, 2024, respectively.

Real Estate Owned (REO). The fair value of REO is based on external appraised values that include adjustments for estimated selling costs and assumptions of market conditions that are not directly observable, resulting in a Level 3 classification. Real estate owned classified as Level 3 totaled $6.2 million at June 30, 2025 and December 31, 2024, respectively.

Mortgage Servicing Rights. When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income, resulting in a Level 3 classification. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. At June 30, 2025, there was no valuation allowance on the mortgage servicing rights. Significant assumptions in the valuation of these Level 3 mortgage servicing rights as of June 30, 2025, included prepayment rates ranging from 20% to 30% and a discount rate of 10%.

Loans Held for Sale. Loans held for sale are accounted for at the lower of amortized cost or fair value. The fair value for loans held for sale is based upon a discounted cash flow model which involves estimating the future cash flows from the loans in the portfolio and discounting to a present value. Contractual cash flows associated with the loans are adjusted to reflect certain assumptions, such as prepayment, default, and loss severity assumptions, to form expected prepayment and credit-adjusted expected cash flows. The expected cash flows are then discounted to present value at a rate of return which considers other costs and risks, such as market risk and liquidity. The carrying amount and fair value of loans held for sale were $477 million and $1.3 billion, respectively at June 30, 2025 and December 31, 2024.

Significant assumptions in the valuation of these Level 3 loans held for sale as of June 30, 2025, included prepayment rates of 5% and 20% for fixed-rate and floating-rate loans, respectively; discount rates ranging from 2.50% to 5.85%; and an annual expected loss assumption rate of 0.05%. These assumptions applied to 89.8% of the total principal balance of the loan portfolio. The remaining 10.2% of the principal balance of the loan portfolio consisted of twenty loans that were rated as substandard, and for which separate assumptions were used to account for the lower credit quality of the loans. Significant assumptions in the valuation of these Level 3 loans held for sale as of December 31, 2024, included prepayment rates of 5% and 15% for fixed-rate and floating-rate loans, respectively; discount rates ranging from 2.10% to 6.25%; and annual expected loss assumption rate of 0.05%. These assumptions applied to 97.4% of the total principal balance of the loan portfolio. The remaining 2.6% of the principal balance of the loan portfolio consisted of seventeen loans that were rated as substandard, and for which separate assumptions were used to account for the lower credit quality of the loans.

Fair Value of Financial Instruments

FASB ASC 825-10, “Disclosures about Fair Value of Financial Instruments” requires disclosure of the fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate such value. The methodologies for estimating the fair value of financial assets and financial liabilities measured at fair value on a recurring and non-recurring basis are discussed above. The estimated fair value amounts have been determined by management using available market information and appropriate valuation methodologies and are based on the exit price notion set forth by ASU 2016-01. In cases where quoted market prices are not available, fair values are based on estimates using present value or other market value techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. The aggregate fair value amounts presented below do not represent the underlying value of the Company.

Fair value estimates are made at a discrete point in time based on relevant market information and other information about the financial instruments. Because no active market exists for a significant portion of our financial instruments, fair value estimates are based in large part on judgments we make primarily regarding current economic conditions, risk characteristics of various financial instruments, prepayment rates, and future expected loss experience. These estimates are subjective in nature and invariably involve some inherent uncertainties. Additionally, unexpected changes in events or circumstances can occur that could require us to make changes to our assumptions and which, in turn, could significantly affect and require us to make changes to our previous estimates of fair value.

In addition, the fair value estimates are based on existing on-and off-balance sheet financial instruments without attempting to estimate the value of existing and anticipated future customer relationships and the value of assets and liabilities that are not considered financial instruments, such as premises and equipment and other real estate owned.

The following methods and assumptions were used to estimate the fair value of financial instruments:

Cash and Cash Equivalents. The fair value of cash and cash equivalents approximates its carrying value.

Interest-Bearing Deposits with Financial Institutions. The fair value of interest-bearing deposits maturing within ninety days approximate their carrying values. These financial instruments are classified as a component of cash and cash equivalents in the accompanying consolidated balance sheets.

Investment Securities Available-for-Sale. Investment securities available for sale are measured at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. When a market is illiquid or there is a lack of transparency around the inputs to valuation, the securities are classified as Level 3 and reliance is placed upon external third-party models, and management judgment and evaluation for valuation. Level 1 investment securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 investment securities include mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. Investment securities classified as Level 3 include beneficial interests in FHLMC securitizations. Significant assumptions in the valuation of these Level 3 securities as of June 30, 2025 included a prepayment rate of 20% and a discount rate of 6.25%. Significant assumptions used in the valuation of these Level 3 investment securities as of December 31, 2024 included a prepayment rate of 20% and a discount rate of 6.87%.

Investment Securities Held-to-Maturity. Investment securities held-to-maturity are carried at amortized cost, adjusted for premiums and discounts that are recognized in interest income using the interest method over the period to maturity. Investment securities held-to-maturity consist of agency mortgage-backed securities issued by government sponsored entities. Fair value is determined based upon the same independent pricing model utilized for valuation of Level 2 investment securities available-for-sale.

Investment in Equity Securities. The fair value on investment in equity securities is the carrying amount and is evaluated for impairment on an annual basis.

Loans Held for Investment. The fair value for loans with variable interest rates is the carrying amount. The fair value of fixed-rate loans is derived by calculating the discounted value of future cash flows expected to be received by the various homogeneous categories of loans or by reference to secondary market pricing. All loans have been adjusted to reflect changes in credit risk.

Accrued Interest Receivable. The fair value of accrued interest receivable on loans and investment securities approximates its carrying value.

Derivative Instruments (Cash Flow Hedge). The Bank entered into a pay-fixed, receive-variable interest rate swap agreement with a counterparty. This agreement was solely undertaken as a cash flow hedge of interest rate risk, specifically of the risk of changes in cash flows on interest payments associated with a stream of variable-rate, short-term borrowings for a corresponding amount that are attributable to changes in the future financing rates of each rolling maturity. We estimate the fair value of this agreement based on inputs from a third-party pricing model, which incorporates such factors as the Treasury curve, the secured overnight financial rate (“SOFR”), and the pay rate on the interest rate swaps. The fair value of this derivative instrument is based on a discounted cash flow approach. The observable nature of the inputs used in deriving its fair value results in a Level 2 classification.

At June 30, 2025, the fair value of the hedge was ($2.9) million and is classified as derivative liabilities on the accompanying balance sheet.

Derivative Instruments (Interest Rate Swap). On January 29, 2025, the Bank entered into an interest rate swap agreement with an institutional counterparty to hedge the interest rate risk to earnings associated with fair value changes in the valuation allowance of loans held for sale. The hedging instrument is a pay-fixed, receive-variable amortizing interest rate swap agreement with an original notional amount of $1.0 billion. In the second quarter of 2025, the Company partially terminated $625 million notional amount in conjunction with the sale of $858 million principal balance of multifamily loans held for sale, resulting in $375 million notional amount remaining. We estimate the fair value of this agreement based on inputs from a third-party pricing model, which incorporates such factors as the Treasury curve, the secured overnight financial rate (“SOFR”), and the pay rate on the interest rate swaps. The fair value of this derivative instrument is based on a discounted cash flow approach. The observable nature of the inputs used in deriving its fair value results in a Level 2 classification.

At June 30, 2025, the fair value of the hedge was ($5.8) million and is classified as derivative liabilities on the accompanying balance sheet.

Deposits. The fair value of demand deposits, savings deposits, and money market deposits is defined as the amounts payable on demand resulting in a Level 1 classification. The fair value of fixed maturity certificates of deposit is estimated based on the discounted value of the future cash flows expected to be paid on the deposits resulting in a Level 2 classification.

Borrowings. The fair value of borrowings is the carrying value of overnight FHLB advances and federal funds purchased that approximate fair value because of the short-term maturity of these instruments, resulting in a Level 2

classification. The fair value of borrowings in the form of FHLB putable advances also approximates carrying value and are classified as Level 2 instruments.

Subordinated debt. The fair value of term borrowings is derived by calculating the discounted value of future cash flows expected to be paid out by the Company resulting in a Level 3 classification.

Accrued Interest Payable. The fair value of accrued interest payable on deposits, borrowings, and subordinated debt approximates its carrying value.

The following table sets forth the estimated fair values and related carrying amounts of our financial instruments as of:


	Carrying		Fair Value Measurement Level
(dollars in thousands)	Value		1		2		3		Total
June 30, 2025:
Assets:
Cash and cash equivalents	$	1,055,614	$	1,055,614	$	—	$	—	$	1,055,614
Securities AFS, net		1,469,122		992		1,467,289		841		1,469,122
Securities HTM		663,807		—		604,367		—		604,367
Loans held for sale		476,727		—		—		476,727		476,727
Loans held for investment, net		7,510,763		—		44,196		7,335,483		7,379,679
Investment in equity securities		11,799		—		—		11,799		11,799
Accrued interest receivable		50,538		50,538		—		—		50,538
Liabilities:
Deposits	$	8,593,693	$	6,744,399	$	1,856,771	$	—	$	8,601,170
Borrowings		1,669,315		—		1,696,461		—		1,696,461
Subordinated debt		173,490		—		—		156,564		156,564
Accrued interest payable		18,273		18,273		—		—		18,273
Derivative liabilities		8,689		—		8,689		—		8,689

December 31, 2024:
Assets:
Cash and cash equivalents	$	1,016,132	$	1,016,132	$	—	$	—	$	1,016,132
Securities AFS, net		1,313,885		14,778		1,297,865		1,242		1,313,885
Securities HTM		712,105		—		636,840		—		636,840
Loans held for sale		1,285,819		—		—		1,285,819		1,285,819
Loans held for investment, net		7,909,091		—		16,663		7,595,925		7,612,588
Investment in equity securities		11,798		—		—		11,798		11,798
Accrued interest receivable		54,804		54,804		—		—		54,804
Derivative assets		5,086		—		5,086		—		5,086
Liabilities:
Deposits	$	9,870,279	$	7,476,826	$	2,389,896	$	—	$	9,866,722
Borrowings		1,425,369		—		1,430,337		—		1,430,337
Subordinated debt		173,459		—		—		142,631		142,631
Accrued interest payable		27,701		27,701		—		—		27,701

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

SECURITIES

6 Months Ended

Jun. 30, 2025

SECURITIES

SECURITIES

NOTE 3: SECURITIES

The following table provides a summary of the Company’s securities AFS portfolio as of:


	Amortized		Gross Unrealized				Allowance for		Estimated
(dollars in thousands)	Cost		Gains		Losses		Credit Losses		Fair Value
June 30, 2025:
Collateralized mortgage obligations	$	205,981	$	—	$	(1,562)	$	—	$	204,419
Agency mortgage-backed securities		1,093,563		243		(4,735)		—		1,089,071
Municipal bonds		48,749		—		(2,540)		—		46,209
SBA securities		7,945		4		(60)		—		7,889
Beneficial interests in FHLMC securitization		841		—		—		—		841
Corporate bonds		127,732		—		(7,380)		(651)		119,701
U.S. Treasury		999		6		(13)		—		992
Total	$	1,485,810	$	253	$	(16,290)	$	(651)	$	1,469,122

December 31, 2024:
Collateralized mortgage obligations	$	11,121	$	—	$	(1,279)	$	—	$	9,842
Agency mortgage-backed securities		1,126,861		2,308		(7,543)		—		1,121,626
Municipal bonds		48,921		—		(3,386)		—		45,535
SBA securities		9,236		2		(93)		—		9,145
Beneficial interests in FHLMC securitization		4,619		—		—		(3,377)		1,242
Corporate bonds		133,767		—		(7,193)		(757)		125,817
U.S. Treasury		700		—		(22)		—		678
Total	$	1,335,225	$	2,310	$	(19,516)	$	(4,134)	$	1,313,885

The following table provides a summary of the Company’s securities HTM portfolio as of:


	Amortized		Gross Unrecognized				Allowance for		Estimated
(dollars in thousands)	Cost		Gains		Losses		Credit Losses		Fair Value
June 30, 2025:
Agency mortgage-backed securities	$	663,807	$	—	$	(59,440)	$	—	$	604,367
Total	$	663,807	$	—	$	(59,440)	$	—	$	604,367

December 31, 2024:
Agency mortgage-backed securities	$	712,105	$	—	$	(75,265)	$	—	$	636,840
Total	$	712,105	$	—	$	(75,265)	$	—	$	636,840

As of June 30, 2025, the tables above include $392.0 million in agency mortgage-backed securities pledged as collateral to the state of Florida to meet regulatory requirements; $1.9 million in U.S. Treasury and agency mortgage-backed securities pledged as collateral to various states to meet regulatory requirements related to the Bank’s trust operations; $259.0 million of agency mortgage-backed securities pledged as collateral as support for the Bank’s obligations under loan sales and securitization agreements entered into from 2018 and 2021; and $73.6 million in securities consisting of SBA securities, collateralized mortgage obligations, and agency mortgage-backed securities pledged as collateral for repurchase agreements obtained from a prior bank acquisition. A total of $1.1 billion in SBA and agency mortgage-backed securities, collateralized mortgage obligations, corporate and municipal bonds are pledged as collateral to the Federal Reserve Bank’s discount window from which the Bank may borrow.

As of December 31, 2024, the tables above include $325.7 million in agency mortgage-backed securities pledged as collateral to the state of Florida to meet regulatory requirements; $1.3 million in U.S. Treasury securities pledged as collateral to various states to meet regulatory requirements related to the Bank’s trust operations; $256.5 million of agency mortgage-backed securities pledged as collateral as support for the Bank’s obligations under loan sales and securitization agreements entered into from 2018 and 2021; and $77.3 million in securities consisting of SBA securities, collateralized mortgage obligations, and agency mortgage-backed securities pledged as collateral for repurchase agreements obtained from a prior bank acquisition. A total of $916.8 million in SBA and agency mortgage-backed securities, collateralized mortgage obligations, corporate and municipal bonds are pledged as collateral to the Federal Reserve Bank’s discount window from which the Bank may borrow.

We monitor the credit quality of these securities by evaluating various quantitative attributes. The credit quality indicators the Company monitors include, but are not limited to, credit ratings of individual securities and the credit rating of United States government-sponsored enterprises that guarantee the securities. Credit ratings express opinions about the credit quality of a security. Securities rated investment grade, as defined by nationally recognized statistical rating organizations (“NRSROs”), are generally considered by the rating agencies and market participants to be low credit risk. As of June 30, 2025, all of the Company’s securities were either investment grade or were issued by a U.S. government agency or government-sponsored enterprise (“GSE”) with an investment grade rating, with the exception of two corporate bonds having a combined market value of $32.0 million and one agency commercial mortgage-backed security with a marked value of $841 thousand which were below investment grade.

The tables below indicate the gross unrealized losses and fair values of our securities AFS portfolio, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position.


	Securities with Unrealized Loss at June 30, 2025
	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Collateralized mortgage obligations	$	197,644	$	(459)	$	6,775	$	(1,103)	$	204,419	$	(1,562)
Agency mortgage-backed securities		996,966		(4,476)		3,803		(259)		1,000,769		(4,735)
Municipal bonds		492		(8)		45,488		(2,532)		45,980		(2,540)
SBA securities		204		—		6,646		(60)		6,850		(60)
Corporate bonds		19,876		(124)		100,476		(7,256)		120,352		(7,380)
U.S. Treasury		—		—		487		(13)		487		(13)
Total	$	1,215,182	$	(5,067)	$	163,675	$	(11,223)	$	1,378,857	$	(16,290)


	Securities with Unrealized Loss at December 31, 2024
	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Collateralized mortgage obligations	$	2,874	$	(51)	$	6,968	$	(1,228)	$	9,842	$	(1,279)
Agency mortgage-backed securities		719,329		(7,218)		4,280		(325)		723,609		(7,543)
Municipal bonds		2,129		(101)		43,405		(3,285)		45,534		(3,386)
SBA securities		614		(1)		7,739		(92)		8,353		(93)
Corporate bonds		14,242		(758)		112,333		(6,435)		126,575		(7,193)
U.S. Treasury		—		—		678		(22)		678		(22)
Total	$	739,188	$	(8,129)	$	175,403	$	(11,387)	$	914,591	$	(19,516)

Unrealized losses in the securities AFS portfolio have not been recognized into income because the securities are either of high credit quality, management does not intend to sell, it is not more likely than not that management would be required to sell the securities prior to their anticipated recovery, or the decline in fair value is largely due to changes in discount rates and assumptions regarding future interest rates. The fair value is expected to recover as the bonds approach maturity.

The tables below indicate the gross unrecognized losses and fair value of our securities HTM portfolio, aggregated by investment category and length of time that the individual securities have been in a continuous unrecognized loss position.


	Securities with Unrecognized Loss at June 30, 2025
	Less than 12 months				12 months or more				Total
	Fair		Unrecognized		Fair		Unrecognized		Fair		Unrecognized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Agency mortgage-backed securities	$	—	$	—	$	604,367	$	(59,440)	$	604,367	$	(59,440)
Total	$	—	$	—	$	604,367	$	(59,440)	$	604,367	$	(59,440)


	Securities with Unrecognized Loss at December 31, 2024
	Less than 12 months				12 months or more				Total
	Fair		Unrecognized		Fair		Unrecognized		Fair		Unrecognized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Agency mortgage-backed securities	$	15,440	$	(61)	$	621,400	$	(75,204)	$	636,840	$	(75,265)
Total	$	15,440	$	(61)	$	621,400	$	(75,204)	$	636,840	$	(75,265)

During the six-month period ended June 30, 2025, $466 million par value of securities available-for-sale were sold, resulting in a gain on sale of securities available-for-sale of $4.7 million. During the six-month period ended June 30, 2024, $747.8 million par value of securities available-for-sale were sold, resulting in gross realized gains of $1.4 million and gross realized losses of $0.2 million.

The following is a rollforward of the Company’s allowance for credit losses related to investments for the following periods:


		Beginning		Provision (Reversal)						Ending
(dollars in thousands)		Balance		for Credit Losses		Charge-offs		Recoveries		Balance

Three Months Ended June 30, 2025:
Beneficial interests in FHLMC securitization	$	3,361	$	—	$	(3,361)	$	—	$	—
Corporate bonds		666		(15)		—		—		651
Total	$	4,027	$	(15)	$	(3,361)	$	—	$	651

Six Months Ended June 30, 2025:
Beneficial interests in FHLMC securitization	$	3,377	$	(16)	$	(3,361)	$	—	$	—
Corporate bonds		757		(106)		—		—		651
Total	$	4,134	$	(122)	$	(3,361)	$	—	$	651

Three Months Ended June 30, 2024:
Beneficial interests in FHLMC securitization	$	6,593	$	(91)	$	—	$	—	$	6,502
Corporate bonds		1,318		(478)		—		—		840
Total	$	7,911	$	(569)	$	—	$	—	$	7,342

Six Months Ended June 30, 2024:
Beneficial interests in FHLMC securitization	$	6,818	$	(316)	$	—	$	—	$	6,502
Corporate bonds		1,402		(562)		—		—		840
Total	$	8,220	$	(878)	$	—	$	—	$	7,342

During the six-month periods ending June 30, 2025 and June 30, 2024, the Company recorded a provision (reversal) for credit losses of ($122) thousand and ($878) thousand, respectively. During the quarter ended June 30, 2025, an interest-only strip security was written down to its fair value resulting in a charge-off of $3.4 million to the provision. There were no charge-offs recorded for the year-ago quarter or six-month period ended June 30, 2024.

On a quarterly basis, the Company engages with an independent third party to perform an analysis of expected credit losses for its municipal and corporate bond securities in order to supplement our own internal review. As of June 30, 2025, the analysis concluded and the Company concurred that fourteen corporate bonds were impacted by credit loss, for which $106 thousand was recorded as reversal of provision to the allowance for credit losses (“ACL”) related to available-for-sale securities and that no municipal bond securities were impacted by credit loss. The ACL related to available-for-sale securities totaled $651 thousand and $4.1 million as of June 30, 2025 and December 31, 2024, respectively.

The amortized cost and fair value of investment securities AFS by contractual maturity were as follows for the periods indicated:


	1 Year or			More than 1 Year			More than 5 Years			More than
(dollars in thousands)	Less			through 5 Years			through 10 Years			10 Years			Total
June 30, 2025
Amortized Cost:
Collateralized mortgage obligations	$	—		$	216		$	417		$	205,348		$	205,981
Agency mortgage-backed securities		—			2,525			—			1,091,038			1,093,563
Municipal bonds		2,604			20,552			24,497			1,096			48,749
SBA securities		—			485			111			7,349			7,945
Beneficial interests in FHLMC securitization		—			841			—			—			841
Corporate bonds		3,005			57,969			61,236			5,522			127,732
U.S. Treasury		500			499			—			—			999
Total	$	6,109		$	83,087		$	86,261		$	1,310,353		$	1,485,810
Weighted average yield		2.67	%		5.53	%		3.10	%		5.34	%		5.21	%
Estimated Fair Value:
Collateralized mortgage obligations	$	—		$	205		$	394		$	203,820		$	204,419
Agency mortgage-backed securities		—			2,463			—			1,086,608			1,089,071
Municipal bonds		2,602			19,881			22,872			854			46,209
SBA securities		—			484			111			7,294			7,889
Beneficial interests in FHLMC securitization		—			841			—			—			841
Corporate bonds		2,932			56,452			56,578			4,390			120,352
U.S. Treasury		487			505			—			—			992
Total	$	6,021		$	80,831		$	79,955		$	1,302,966		$	1,469,773


	1 Year or			More than 1 Year			More than 5 Years			More than
(dollars in thousands)	Less			through 5 Years			through 10 Years			10 Years			Total
December 31, 2024
Amortized Cost:
Collateralized mortgage obligations	$	—		$	276		$	154		$	10,691		$	11,121
Agency mortgage-backed securities		48			2,992			—			1,123,821			1,126,861
Municipal bonds		2,594			14,874			29,218			2,235			48,921
SBA securities		—			418			388			8,430			9,236
Beneficial interests in FHLMC securitization		—			4,619			—			—			4,619
Corporate bonds		—			61,961			66,282			5,524			133,767
U.S. Treasury		200			500			—			—			700
Total	$	2,842		$	85,640		$	96,042		$	1,150,701		$	1,335,225
Weighted average yield		1.99	%		5.83	%		3.01	%		5.50	%		5.34	%
Estimated Fair Value:
Collateralized mortgage obligations	$	—		$	256		$	150		$	9,436		$	9,842
Agency mortgage-backed securities		47			2,882			—			1,118,697			1,121,626
Municipal bonds		2,573			14,120			27,065			1,777			45,535
SBA securities		—			416			388			8,341			9,145
Beneficial interests in FHLMC securitization		—			4,619			—			—			4,619
Corporate bonds		—			60,318			61,889			4,367			126,574
U.S. Treasury		200			478			—			—			678
Total	$	2,820		$	83,089		$	89,492		$	1,142,618		$	1,318,019

The amortized cost and fair value of investment securities HTM by contractual maturity were as follows for the periods indicated:


	1 Year or			More than 1 Year			More than 5 Years			More than
(dollars in thousands)	Less			through 5 Years			through 10 Years			10 Years			Total
June 30, 2025
Amortized Cost:
Agency mortgage-backed securities	$	—		$	5,752		$	9,027		$	649,028		$	663,807
Total	$	—		$	5,752		$	9,027		$	649,028		$	663,807
Weighted average yield		—	%		1.08	%		1.77	%		2.22	%		2.21	%

Estimated Fair Value:
Agency mortgage-backed securities	$	—		$	5,476		$	8,329		$	590,562		$	604,367
Total	$	—		$	5,476		$	8,329		$	590,562		$	604,367


	1 Year or			More than 1 Year			More than 5 Years			More than
(dollars in thousands)	Less			through 5 Years			through 10 Years			10 Years			Total
December 31, 2024
Amortized Cost:
Agency mortgage-backed securities	$	—		$	4,542		$	8,900		$	698,663		$	712,105
Total	$	—		$	4,542		$	8,900		$	698,663		$	712,105
Weighted average yield		—	%		0.99	%		1.58	%		2.24	%		2.22	%

Estimated Fair Value:
Agency mortgage-backed securities	$	—		$	4,287		$	8,128		$	624,425		$	636,840
Total	$	—		$	4,287		$	8,128		$	624,425		$	636,840

LOANS

6 Months Ended

Jun. 30, 2025

LOANS

LOANS

NOTE 4: LOANS

The following is a summary of our loans held for investment as of:


	June 30,		December 31,
(dollars in thousands)	2025		2024
Outstanding principal balance:
Loans secured by real estate:
Residential properties:
Multifamily	$	3,288,093	$	3,341,823
Single-family		822,508		873,491
Total real estate loans secured by residential properties		4,110,601		4,215,314
Commercial properties		818,738		904,167
Land and construction		43,361		69,246
Total real estate loans		4,972,700		5,188,727
Commercial and industrial loans		2,568,621		2,746,351
Consumer loans		1,544		1,137
Total loans		7,542,865		7,936,215
Premiums, discounts and deferred fees and expenses		5,458		5,178
Total	$	7,548,323	$	7,941,393

The Company’s loans held for investment portfolio is segmented according to loans that share similar attributes and risk characteristics. In addition, the Company’s loans held for sale portfolio, which is not included in the table above, and consisting entirely of multifamily loans, totaled $0.5 billion at June 30, 2025 and $1.3 billion at December 31, 2024, respectively.

Loans secured by real estate include those secured by either residential or commercial real estate properties, such as multifamily and single-family residential loans; owner occupied and non-owner occupied commercial real estate loans; and land and construction loans.

Commercial and industrial loans are loans to businesses where the operating cash flow of the business is the primary source of payment. This segment includes commercial revolving lines of credit and term loans, municipal finance loans, equipment finance loans and SBA loans.

Consumer loans include personal installment loans and line of credit, and home equity lines of credit. These loan products are offered as an accommodation to clients of our primary business lines.

Loans with a collateral value totaling $170.6 million and $176.0 million were pledged as collateral to secure borrowings with the Federal Reserve Bank at June 30, 2025 and December 31, 2024, respectively. Loans with a market value of $3.1 billion and $4.1 billion were pledged as collateral to secure borrowings with the FHLB at June 30, 2025 and December 31, 2024, respectively.

During the six-month period ended June 30, 2025, loans totaling $858 million in unpaid principal balance were sold, resulting in a net loss on sale of loans of $10.4 million. During the six-month period ended June 30, 2024, loans totaling $8.1 million in unpaid principal balance were sold, resulting in a net gain on sale of loans of $678 thousand.

The following table summarizes our delinquent and nonaccrual loans as of:


	Past Due and Still Accruing												Total Past
							90 Days						Due and
(dollars in thousands)	30–59 Days			60-89 Days			or More			Nonaccrual			Nonaccrual			Current		Total
June 30, 2025:
Real estate loans:
Residential properties	$	10,858		$	—		$	—		$	18,779		$	29,637		$	4,090,114	$	4,119,751
Commercial properties		3,180			—			355			6,006			9,541			808,801		818,342
Land and construction		—			—			—			—			—			43,317		43,317
Commercial and industrial loans		637			168			—			9,842			10,647			2,554,717		2,565,364
Consumer loans		—			—			—			—			—			1,549		1,549
Total	$	14,675		$	168		$	355		$	34,627		$	49,825		$	7,498,498	$	7,548,323

Percentage of total loans		0.19	%		0.00	%		0.00	%		0.46	%		0.66	%

December 31, 2024:
Real estate loans:
Residential properties	$	7,083		$	—		$	—		$	23,324		$	30,407		$	4,193,994	$	4,224,401
Commercial properties		7,944			428			12,900			7,946			29,218			874,463		903,681
Land and construction		—			—			—			—			—			69,134		69,134
Commercial and industrial loans		997			617			—			9,174			10,788			2,732,226		2,743,014
Consumer loans		—			—			—			—			—			1,163		1,163
Total	$	16,024		$	1,045		$	12,900		$	40,444		$	70,413		$	7,870,980	$	7,941,393

Percentage of total loans		0.20	%		0.01	%		0.16	%		0.51	%		0.89	%

The following table summarizes our nonaccrual loans as of:


	Nonaccrual		Nonaccrual
	with Allowance		with no Allowance
(dollars in thousands)	for Credit Losses		for Credit Losses
June 30, 2025:
Real estate loans:
Residential properties	$	1,363	$	17,416
Commercial properties		585		5,421
Commercial and industrial loans		9,834		8
Total	$	11,782	$	22,845

December 31, 2024:
Real estate loans:
Residential properties	$	1,420	$	21,904
Commercial properties		3,449		4,497
Commercial and industrial loans		9,174		—
Total	$	14,043	$	26,401

The Company provides modifications to borrowers experiencing financial difficulty, which may include interest rate reduction, term extensions, principal forgiveness, other-than-insignificant payment delays, or a combination of any of these items. A loan modification or refinancing results in a new loan if the terms of the new loan are at least as favorable to the lender as the terms with customers with similar collection risks that are not refinancing or restructuring their loans and the modification to the terms of the loan are more than minor. If a loan modification or refinancing does not result in a new loan, it is classified as a loan modification.

The following table presents our loan modifications made to borrowers experiencing financial difficulty by type of modification for the six-month periods ended June 30, 2025 and 2024, respectively with related amortized cost balances, respective percentage share of the total class of loans, and the related financial effect:


	June 30, 2025:
	Term Extension
		Amortized Cost Basis	% of Total Class of Loans		Financial Effect
Residential loans	$	36	0.001	%	1 loan with 4 months of payment deferrals.
Commercial real estate loans	$	411	0.05	%	1 loan with 6 month term extension.
Commercial and industrial loans	$	4,679	0.18	%	1 loan with payment deferral of 151 months with 50% payments until paid in full; 8 loans with payment deferrals of either 2 or 3 months with $100 monthly payments; 2 loans with payment deferrals of 2 months; 3 loans with term extensions and payment deferrals ranging from 12 to 52 months.
Total	$	5,126

	Combination
		Amortized Cost Basis	% of Total Class of Loans		Financial Effect
Commercial and industrial loans	$	291	0.01	%	4 loans with extensions of loan maturity of 2 and 3 months and payment deferral.
Total	$	291

	Total
		Amortized Cost Basis	% of Total Class of Loans
Residential loans	$	36	0.001	%
Commercial real estate loans		411	0.05	%
Commercial and industrial loans		4,970	0.19	%
Total	$	5,417

	June 30, 2024:
	Term Extension
		Amortized Cost Basis	% of Total Class of Loans		Financial Effect
Commercial real estate loans	$	12,900	1.30	%	1 loan with term extension of 10 months.
Commercial and industrial loans	$	1,269	0.04	%	4 loans with various extensions of loan maturity ranging from 3 to 62.5 months. 1 loan with 3-month extension and 3-month forbearance. 1 loan with $100 payments through 3 months.
Total	$	14,169

	Combination
		Amortized Cost Basis	% of Total Class of Loans		Financial Effect
Commercial and industrial loans		7,183	0.01	%	4 loans with various extensions of loan maturity ranging from 6 to 19 months and payment deferral. 1 loan with 5 month forbearance followed by interest rate reduction. 1 loan with $100 payments through 3 months with payment deferral.
Total	$	7,183

	Total
		Amortized Cost Basis	% of Total Class of Loans
Commercial real estate loans		12,900	1.30	%
Commercial and industrial loans		8,452	0.05	%
Total	$	21,352

The following table presents the amortized cost basis of loans that had a payment default during the six-month period ended June 30, 2025 which were modified in the previous twelve-month period of July 1, 2024 to June 30, 2025:


	June 30, 2025:
	Term Extension
		# of Loans Defaulted		Amortized Cost Basis
Commercial and industrial loans		2	$	66
Total		2	$	66

	Combination
		# of Loans Defaulted		Amortized Cost Basis
Commercial and industrial loans		1	$	154
Total		1	$	154

	Total
		# of Loans Defaulted		Amortized Cost Basis
Commercial and industrial loans		3	$	220
Total		3	$	220

None of the loans modified during the twelve-month period of July 1, 2023 to June 30, 2024 subsequently had a payment default during the six-month period ended June 30, 2024.

The following table presents the payment status of our loan modifications made during the previous twelve-month periods ended July 1, 2024 to June 30, 2025 and July 1, 2023 to June 30, 2024, respectively:


			30-89 Days		90+ Days
(dollars in thousands)		Current	Past Due		Past Due			Nonaccrual	Total
June 30, 2025:
Residential loans	$	39	$	—	$	—	$	—	$	39
Commercial real estate loans		—		—		—		411		411
Commercial and industrial loans		2,069		—		—		8,284		10,353
Total	$	2,108	$	—	$	—	$	8,695	$	10,803

			30-89 Days		90+ Days
(dollars in thousands)		Current	Past Due		Past Due			Nonaccrual	Total
June 30, 2024:
Residential loans	$	247	$	—	$	—	$	—	$	247
Commercial real estate loans		13,515		—		—		—		13,515
Commercial and industrial loans		13,635		—		—		8,055		21,690
Total	$	27,397	$	—	$	—	$	8,055	$	35,452

ALLOWANCE FOR CREDIT LOSSES

6 Months Ended

Jun. 30, 2025

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES

NOTE 5: ALLOWANCE FOR CREDIT LOSSES

The Company accounts for ACL related to loans held for investment in accordance with ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the Company to record an estimate of current expected credit losses (“CECL”) for loans at the time of origination. The ACL is maintained at a level deemed appropriate by management to provide for expected credit losses in the portfolio as of the date of the consolidated balance sheet.

The measurement of the ACL is performed by collectively pooling and evaluating loans with similar risk characteristics. The quantitative CECL model estimates credit losses by applying pool-specific probability of default (“PD”) and loss given default (“LGD”) rates to the expected exposure at default ("EAD") over the contractual life of the loans. A significant portion of the ACL is calculated and measured on a collective pool basis, representing $7.4 billion or approximately 98.1% of the total blended loans held for investment portfolio as of June 30, 2025. Pooled loan segments consisted of multifamily, commercial, single-family, non-owner occupied commercial real estate, and construction loans. The remaining portion of the loan portfolio, representing $121 million or approximately 1.6% of the total blended loan portfolio, consisted of small homogeneous loan portfolios which has its quantitative reserve calculated separately based on historical loss factors for the respective portfolios or, if no historical loss is available, based on peer group historical losses. These loan portfolios include equipment finance, land, consumer and commercial small balance loans. In addition, collateral dependent loans totaling $26.2 million or approximately 0.3% of the total blended portfolio are separately valued based on the fair value of the underlying collateral.

As of December 31, 2024, the ACL was calculated and measured on a collective pool basis, representing $7.8 billion or approximately 97.6% of the total blended loans held for investment portfolio. Pooled loan segments consisted of multifamily, commercial, single-family, non-owner occupied commercial real estate, and construction loans. The remaining portion of the loan portfolio, representing $164.7 million or 2.1% of the total blended loan portfolio, consisted of small homogeneous loan portfolios which has its quantitative reserve calculated separately based on historical loss factors for the respective portfolios or, if no historical loss is available, based upon peer group historical losses. These loan portfolios include equipment finance, land, consumer and commercial small balance loans. In addition, collateral dependent loans totaling $27.0 million or 0.3% of the total blended portfolio were separately valued based on the fair value of the underlying collateral.

The measurement also incorporates qualitative components such as internal and external risk factors that may not be adequately assessed in the quantitative model. Qualitative adjustments primarily relate to segments of the loan portfolio deemed by management to be of a higher-risk profile or other factors where management believes the quantitative component of the ACL model may not be fully reflective of levels deemed adequate in the judgment of management. Qualitative adjustments may also relate to uncertainty as to future macroeconomic conditions and the related impact on certain loan segments. Management reviews the need for an appropriate level of quantitative adjustments on a quarterly basis, and as such, the amount and allocation of qualitative adjustments may change in future periods. Management applies a two-year time horizon in its ACL model at which there is a gradual reversion back to historical loss experience over a two year period.

For purposes of calculating the ACL, the Company has elected to include deferred loan fees and expenses in the loan balance and exclude accrued interest from loan balances.

The following is a rollforward of the allowance for credit losses related to loans held for investment for the following periods:


			Provision
	Beginning		(Reversal) for						Ending
(dollars in thousands)	Balance		Credit Losses		Charge-offs		Recoveries		Balance
Three Months Ended June 30, 2025:
Real estate loans:
Residential properties	$	6,544	$	236	$	—	$	—	$	6,780
Commercial properties		5,861		529		—		—		6,390
Land and construction		46		47		—		—		93
Commercial and industrial loans		22,739		1,680		(492)		357		24,284
Consumer loans		10		3		—		—		13
Total	$	35,200	$	2,495	$	(492)	$	357	$	37,560

Six Months Ended June 30, 2025:
Real estate loans:
Residential properties	$	7,216	$	(442)	$	—	$	6	$	6,780
Commercial properties		6,683		(293)		—		—		6,390
Land and construction		61		32		—		—		93
Commercial and industrial loans		18,333		6,284		(895)		562		24,284
Consumer loans		9		4		—		—		13
Total	$	32,302	$	5,585	$	(895)	$	568	$	37,560

Three Months Ended June 30, 2024:
Real estate loans:
Residential properties	$	8,374		639		—		—	$	9,013
Commercial properties		4,597		1,489		—		—		6,086
Land and construction		66		11		—		—		77
Commercial and industrial loans		16,251		(1,930)		(369)		152		14,104
Consumer loans		7		8		—		—		15
Total	$	29,295	$	217	$	(369)	$	152	$	29,295

Six Months Ended June 30, 2024:
Real estate loans:
Residential properties	$	9,921	$	(908)	$	—	$	—	$	9,013
Commercial properties		4,148		1,938		—		—		6,086
Land and construction		332		(255)		—		—		77
Commercial and industrial loans		14,796		(133)		(862)		303		14,104
Consumer loans		8		6		—		1		15
Total	$	29,205	$	648	$	(862)	$	304	$	29,295

The Company maintained an allowance for unfunded loan commitments totaling $1.7 million and $1.3 million at June 30, 2025 and December 31, 2024, respectively, which is included in accounts payable and other liabilities. The allowance is calculated based mostly on loss rates for the type of loan/collateral in which the loan commitment relates with a drawdown probability applied to the available credit balance based on utilization rates for the prior year.

The Company’s primary regulatory agencies periodically review the allowance for credit losses and such agencies may require the Company to recognize additions to the allowance based on information and factors available to them at the time of their examinations. Accordingly, no assurance can be given that the Company will not recognize additional provisions for credit losses with respect to the loan portfolio.

A loan is considered collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the operation or sale of the collateral. Collateral dependent loans are evaluated individually to determine expected credit losses and any ACL allocation is determined based upon the amount by which amortized costs exceed the estimated fair value of the collateral, adjusted for estimated selling costs (if applicable). The following table presents the amortized cost basis of collateral dependent loans and the related ACL allocated to these loans as of the dates indicated:


					Equipment/					ACL
(dollars in thousands)	Real Estate		Cash		Receivables		Total			Allocation
June 30, 2025:
Loans secured by real estate:
Residential properties
Multifamily	$	1,449	$	—	$	—	$	1,449	$	—
Single-family		15,967		—		—		15,967		—
Commercial real estate loans		5,421		—		—		5,421		—
Commercial loans		8		—		3,339		3,347		509
Total	$	22,845	$	—	$	3,339	$	26,184	$	509

December 31, 2024:
Loans secured by real estate:
Residential properties
Multifamily	$	2,802	$	—	$	—	$	2,802	$	—
Single-family		15,856		—		—		15,856		—
Commercial real estate loans		4,497		—		—		4,497		—
Commercial loans		—		—		3,935		3,935		697
Total	$	23,155	$	—	$	3,935	$	27,090	$	697

Credit Risk Management

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, collateral adequacy, credit documentation, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis typically includes larger, non-homogeneous loans such as loans secured by multifamily or commercial real estate and commercial and industrial loans. This analysis is performed on an ongoing basis as new information is obtained. The Company uses the following definitions for risk ratings:

Pass: Loans classified as pass are strong credits with no existing or known potential weaknesses deserving of management’s close attention.

Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Loans listed as pass include larger non-homogeneous loans not meeting the risk rating definitions above and smaller, homogeneous loans not assessed on an individual basis.

The following tables present risk categories of loans held for investment based on year of origination, and includes gross charge-offs in accordance with ASU 2022-02 as of the dates presented:


													Revolving
(dollars in thousands)	2025		2024		2023		2022		2021		Prior		Loans		Total
June 30, 2025:
Loans secured by real estate:
Residential
Multifamily
Pass	$	60,610	$	87,402	$	534	$	1,679,791	$	731,151	$	488,825	$	—	$	3,048,313
Special mention		—		—		—		21,402		48,611		54,576		—		124,589
Substandard		—		—		—		5,998		14,601		100,410		—		121,009
Total	$	60,610	$	87,402	$	534	$	1,707,191	$	794,363	$	643,811	$	—	$	3,293,911
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Single-family
Pass	$	618	$	5,400	$	9,400	$	240,404	$	247,346	$	267,671	$	37,121	$	807,960
Special mention		—		—		—		—		—		—		526		526
Substandard		—		—		—		—		—		17,196		158		17,354
Total	$	618	$	5,400	$	9,400	$	240,404	$	247,346	$	284,867	$	37,805	$	825,840
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate
Pass	$	—	$	3,123	$	2,377	$	210,730	$	101,932	$	467,033	$	—	$	785,195
Special mention		—		—		—		7,722		1,171		12,941		—		21,834
Substandard		—		—		—		—		3,118		8,195		—		11,313
Total	$	—	$	3,123	$	2,377	$	218,452	$	106,221	$	488,169	$	—	$	818,342
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Land and construction
Pass	$	—	$	122	$	—	$	33,542	$	4,373	$	5,136	$	—	$	43,173
Special mention		—		—		—		—		—		144		—		144
Substandard		—		—		—		—		—		—		—		—
Total	$	—	$	122	$	—	$	33,542	$	4,373	$	5,280	$	—	$	43,317
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial
Pass	$	3,334	$	63,857	$	106,996	$	907,490	$	169,743	$	99,280	$	1,083,838	$	2,434,538
Special mention		—		627		4,465		9,719		52,670		657		9,713		77,851
Substandard		1,575		2,438		40,037		23		296		2,226		6,380		52,975
Total	$	4,909	$	66,922	$	151,498	$	917,232	$	222,709	$	102,163	$	1,099,931	$	2,565,364
Gross charge-offs	$	—	$	32	$	352	$	290	$	210	$	11	$	—	$	895

Consumer
Pass	$	70	$	—	$	591	$	—	$	102	$	44	$	742	$	1,549
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total	$	70	$	—	$	591	$	—	$	102	$	44	$	742	$	1,549
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total loans
Pass	$	64,632	$	159,904	$	119,898	$	3,071,957	$	1,254,647	$	1,327,989	$	1,121,701	$	7,120,728
Special mention		—		627		4,465		38,843		102,452		68,318		10,239		224,944
Substandard		1,575		2,438		40,037		6,021		18,015		128,027		6,538		202,651
Total	$	66,207	$	162,969	$	164,400	$	3,116,821	$	1,375,114	$	1,524,334	$	1,138,478	$	7,548,323
Gross charge-offs	$	—	$	32	$	352	$	290	$	210	$	11	$	—	$	895


													Revolving
(dollars in thousands)	2024		2023		2022		2021		2020		Prior		Loans		Total
December 31, 2024:
Loans secured by real estate:
Residential
Multifamily
Pass	$	101,311	$	539	$	1,701,974	$	749,864	$	369,887	$	241,935	$	—	$	3,165,510
Special mention		—		—		—		47,090		18,572		8,623		—		74,285
Substandard		—		—		13,231		—		18,234		76,185		—		107,650
Total	$	101,311	$	539	$	1,715,205	$	796,954	$	406,693	$	326,743	$	—	$	3,347,445
Gross charge-offs	$	—		—		—		—		—		657		—	$	657

Single-family
Pass	$	5,410	$	9,441	$	247,252	$	255,096	$	90,422	$	203,116	$	44,580	$	855,317
Special mention		—		—		—		—		—		—		510		510
Substandard		—		—		—		—		—		21,104		25		21,129
Total	$	5,410	$	9,441	$	247,252	$	255,096	$	90,422	$	224,220	$	45,115	$	876,956
Gross charge-offs	$	—		—		—		—		—		—		—	$	—

Commercial real estate
Pass	$	3,784	$	2,398	$	217,827	$	115,582	$	136,414	$	378,101	$	—	$	854,106
Special mention		—		—		1,637		1,299		7,966		4,795		—		15,697
Substandard		—		12,900		—		—		845		20,133		—		33,878
Total	$	3,784	$	15,298	$	219,464	$	116,881	$	145,225	$	403,029	$	—	$	903,681
Gross charge-offs	$	—		—		—		—		—		964		—	$	964

Land and construction
Pass	$	125	$	24,970	$	32,877	$	4,444	$	1,035	$	5,683	$	—	$	69,134
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total	$	125	$	24,970	$	32,877	$	4,444	$	1,035	$	5,683	$	—	$	69,134
Gross charge-offs	$	—		—		—		—		—		—		—	$	—

Commercial
Pass	$	66,699	$	151,580	$	972,111	$	234,062	$	88,657	$	27,220	$	1,147,464	$	2,687,793
Special mention		690		3,400		9,430		24,087		—		605		7,602		45,814
Substandard		2,593		31		28		422		12		2,218		4,103		9,407
Total	$	69,982	$	155,011	$	981,569	$	258,571	$	88,669	$	30,043	$	1,159,169	$	2,743,014
Gross charge-offs	$	572		622		1,310		795		3,437		4,530		5,504	$	16,770

Consumer
Pass	$	89	$	5	$	—	$	107	$	—	$	49	$	913	$	1,163
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total	$	89	$	5	$	—	$	107	$	—	$	49	$	913	$	1,163
Gross charge-offs	$	—		—		—		—		—		—		23	$	23

Total loans
Pass	$	177,418	$	188,933	$	3,172,041	$	1,359,155	$	686,415	$	856,104	$	1,192,957	$	7,633,023
Special mention		690		3,400		11,067		72,476		26,538		14,023		8,112		136,306
Substandard		2,593		12,931		13,259		422		19,091		119,640		4,128		172,064
Total	$	180,701	$	205,264	$	3,196,367	$	1,432,053	$	732,044	$	989,767	$	1,205,197	$	7,941,393
Gross charge-offs	$	572		622		1,310		795		3,437		6,151		5,527	$	18,414

CORE DEPOSIT INTANGIBLES

6 Months Ended

Jun. 30, 2025

CORE DEPOSIT INTANGIBLES

CORE DEPOSIT INTANGIBLES

NOTE 6: CORE DEPOSIT INTANGIBLES

Core deposit intangibles are intangible assets having definite useful lives arising from whole bank acquisitions. Core deposit intangibles are amortized on an accelerated method over their estimated useful lives, ranging from 7 to 10 years. At June 30, 2025 and December 31, 2024, core deposit intangible assets totaled $2.9 million and $3.6 million, respectively, and we recognized $611 thousand and $756 thousand in core deposit intangible amortization expense for the six-month periods ended June 30, 2025 and June 30, 2024, respectively.

DERIVATIVE ASSETS AND LIABILITIES

6 Months Ended

Jun. 30, 2025

DERIVATIVE ASSETS AND LIABILITIES

DERIVATIVE ASSETS AND LIABILITIES

NOTE 7: DERIVATIVE ASSETS AND LIABILITIES

On February 1, 2024, the Bank entered into an interest rate swap agreement with an institutional counterparty to hedge against our exposure to changes in interest rates as part of our overall interest rate risk management strategy. On the date the agreement was entered into, the derivative was designated as a cash flow hedge, as it was undertaken to manage the risk of changes in cash flows on interest payments associated with a stream of variable-rate, short-term borrowings for a corresponding amount that are attributable to changes in the future financing rates of each rolling maturity. At inception and on a quarterly basis thereafter, an assessment is performed to determine the effectiveness of the derivative at reducing the risk associated with the hedged exposure. A cash flow hedge designated as highly effective is carried at fair value on the balance sheet with the portion of change in fair value of the cash flow hedge considered highly effective recognized in accumulated other comprehensive income (“AOCI”). If the cash flow hedge becomes ineffective, the portion of the change in fair value of the cash flow hedge considered ineffective is reclassified from AOCI to earnings.

The hedging instrument is a pay-fixed, receive variable interest rate swap agreement having a beginning notional amount of $450 million. The Bank pays quarterly interest at a fixed-rate of 3.583% and receives quarterly interest payments calculated at the Daily Simple SOFR over the same period. The original term of the agreement is five years, expiring on February 1, 2029. On March 28, 2024, the original hedge position notional amount was reduced by $100 million, and a corresponding amount of the hedged item was simultaneously de-designated, resulting in the recording of a gain of $1.7 million, classified as capital markets activities on the accompanying statements of operations.

At June 30, 2025, the fair value of the cash flow hedge was ($2.9) million and is classified as derivative liabilities with a corresponding amount classified as a component of AOCI on the accompanying balance sheet. At December 31, 2024, the fair value of the cash flow hedge was $5.1 million and is classified as derivative assets with a corresponding amount classified as a component of AOCI on the accompanying balance sheet.

On January 29, 2025, the Bank entered into an interest rate swap agreement with an institutional counterparty to hedge the interest rate risk to earnings associated with the fair value changes in the valuation allowance of loans held for sale. The hedging instrument is a pay-fixed, receive-variable amortizing interest rate swap agreement with a notional amount of $1.0 billion. In the second quarter of 2025, the Company partially terminated $625 million notional amount in conjunction with the sale of $858 million principal balance of multifamily loans held for sale, resulting in $375 million notional amount remaining and recognition of a $7.1 million realized loss on partial termination, which is included as a component of capital markets activity on the consolidated statements of operations. The Bank pays quarterly interest at a fixed-rate of 4.03% and receives quarterly interest payments calculated at the Daily Simple SOFR over the same period. The term of the agreement is four years, expiring on January 29, 2029. Since the fair value changes of the valuation allowance for loans held for sale already flow through earnings, the Bank has elected to not designate the hedge for hedge accounting to ensure that changes in the derivative’s value are reported in current earnings each period.

At June 30, 2025, the fair value of the hedge was ($5.8) million and is classified as derivative liabilities on the accompanying balance sheet.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

LOAN SALES AND MORTGAGE SERVICING RIGHTS

6 Months Ended

Jun. 30, 2025

LOAN SALES AND MORTGAGE SERVICING RIGHTS

LOAN SALES AND MORTGAGE SERVICING RIGHTS

NOTE 8: LOAN SALES AND MORTGAGE SERVICING RIGHTS

The Company has retained servicing rights for the majority of the loans sold and recognized mortgage servicing rights in connection with multifamily loan sale transactions that have occurred in the current and prior years. As of June 30, 2025, mortgage servicing rights totaled $7.9 million with no valuation allowance. At December 31, 2024, mortgage servicing rights totaled $6.4 million with no valuation allowance. Mortgage servicing rights are classified as a component of other assets in the accompanying consolidated balance sheets. The amount of loans serviced for others totaled $2.1 billion and $1.3 billion at June 30, 2025 and December 31, 2024, respectively. Servicing fees collected for the six-month periods ended June 30, 2025 and 2024 totaled $2.1 million and $1.2 million, respectively.

There were no loan sale or purchase transactions that resulted in the recognition of mortgage servicing rights in the six-month period ended June 30, 2024.

DEPOSITS

6 Months Ended

Jun. 30, 2025

DEPOSITS

DEPOSITS

NOTE 9: DEPOSITS

The following table summarizes the outstanding balance of deposits and average rates paid thereon as of:


	June 30, 2025				December 31, 2024
			Weighted				Weighted
(dollars in thousands)	Amount		Average Rate		Amount		Average Rate
Demand deposits:
Noninterest-bearing	$	1,467,203	—		$	1,956,628	—
Interest-bearing		1,672,287	2.99	%		1,995,397	3.29	%
Money market and savings		3,604,909	3.55	%		3,524,801	3.60	%
Certificates of deposit		1,849,294	4.50	%		2,393,453	4.72	%
Total	$	8,593,693	3.04	%	$	9,870,279	3.09	%

The following table provides the remaining maturities of certificate of deposit accounts of greater than $250,000 as of:


	June 30, 2025		December 31, 2024
Large Denomination Certificates of Deposit Maturity Distribution	(dollars in thousands)

3 months or less	$	65,181	$	76,691
Over 3 months through 6 months		59,578		44,619
Over 6 months through 12 months		76,369		92,960
Over 12 months		541		13,417
Total	$	201,669	$	227,687

Large depositor relationships, consisting of deposit relationships which exceed 2% of total deposits, accounted for, in the aggregate, 13.4% and 19.7% of our total deposits as of June 30, 2025 and December 31, 2024, respectively. The composition of our large depositor relationships includes mortgage servicing clients who have maintained long-term depository relationships with us. The balances in these depository accounts are subject to seasonal inflows and outflows, common in the mortgage servicing industry.

Accrued interest payable on deposits, which is included in accounts payable and other liabilities, was $18.3 million and $27.7 million at June 30, 2025 and December 31, 2024, respectively.

BORROWINGS

6 Months Ended

Jun. 30, 2025

BORROWINGS

BORROWINGS

NOTE 10: BORROWINGS

The Bank has established secured and unsecured lines of credit under which it may borrow funds from time to time on a term or overnight basis from the FHLB, Federal Reserve Bank of San Francisco (the “Federal Reserve Bank”), and other institutions. At June, 2025, our borrowings consisted of $1.0 billion in FHLB putable advances at the Bank, $650 million of FHLB term advances at the Bank, and $19 million in repurchase agreements at the Bank. At December 31, 2024, our borrowings consisted of $1.0 billion in FHLB putable advances at the Bank, $400 million of FHLB term advances at the Bank, and $25 million in repurchase agreements at the Bank.

FHLB Advances

The FHLB putable advances outstanding at June 30, 2025 had a weighted average remaining life of 5.75 years and a weighted average interest rate of 3.74%. The putable advances can be called quarterly until maturity at the option of the FHLB at various put dates. $300 million attained its first quarterly put date in March 2025 and $700 million attained its first quarterly put date in June 2025, for which none of the puts were exercised.

The FHLB term advances outstanding at June 30, 2025 consist of the following:

$250 million in a one-month fixed-rate advance maturing on July 7, 2025 at an interest rate of 4.55%.

$300 million in a three-year fixed-rate advance maturing on May 28, 2027 at an interest rate of 4.95%.

$100 million in a five-year fixed-rate advance maturing on June 28, 2028 at an interest rate of 4.21%.

FHLB advances are collateralized primarily by loans secured by single-family, multifamily, and commercial real estate properties with a market value of $3.1 billion as of June 30, 2025. The Bank’s total unused borrowing capacity from the FHLB as of June 30, 2025 was $612 million. As of June 30, 2025, the Bank had in place $126 million in letters of credit from the FHLB, $116 million of which is used as collateral for the 2025 and 2024 multifamily loan sale/securitizations, and $10 million of which is used as collateral for public fund deposits.

The FHLB putable advances outstanding at December 31, 2024 had a weighted average remaining life of 6.25 years and a weighted average interest rate of 3.74%. The FHLB term advances outstanding at December 31, 2024 consisted of: $300 million in a three-year fixed-rate advance maturing on May 28, 2027 at an interest rate of 4.95%, and $100 million in a five-year fixed-rate advance maturing on June 28, 2028 at an interest rate of 4.21%. FHLB advances outstanding at December 31, 2024 were collateralized primarily by loans secured by single-family, multifamily, and commercial real estate properties with a market value of $4.1 billion. The Bank’s total unused borrowing capacity from the FHLB at December 31, 2024 was $1.7 billion. The Bank had in place $69 million in letters of credit from the FHLB, $59 million of which is used as collateral for the 2024 multifamily loan sale/securitization, and $10 million of which is used as collateral for public fund deposits.

Federal Reserve Bank Borrowings

The Bank has a secured line of credit with the Federal Reserve Bank including the secured borrowing capacity through the Federal Reserve Bank’s Discount Window, and Borrower-in-Custody (“BIC”) programs. At June 30, 2025, and December 31, 2024, the Bank did not have any borrowings outstanding under any of the Federal Reserve Bank programs. The Bank had secured unused borrowing capacity under this agreement of $1.3 billion and $1.1 billion as of June 30, 2025 and December 31, 2024, respectively.

Uncommitted Credit Facilities:

The Bank has a total of $240 million in borrowing capacity through unsecured federal funds lines, ranging in size from $20 million to $100 million, with six correspondent financial institutions. At June 30, 2025 and December 31, 2024, there were no balances outstanding under these arrangements.

Holding Company Line of Credit:

FFI has entered into a loan agreement with an unaffiliated lender that provides for a revolving line of credit for up to $20 million maturing in June 2026. The loan bears an interest rate of Prime rate, plus 50 basis points (0.50%). FFI’s obligations under the loan agreement are secured by, among other things, a pledge of all of its equity in the Bank. As of June 30, 2025 and December 31, 2024, there were no balances outstanding under this agreement.

Repurchase Agreements:

The repurchase agreements are treated as overnight borrowings with the obligations to repurchase securities sold reflected as a liability. The investment securities underlying these agreements remain in the Company’s securities AFS portfolio. As of June 30, 2025 and December 31, 2024, the repurchase agreements are collateralized by investment securities with a fair value of approximately $73.6 million and $77.3 million, respectively.

- 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.

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+ Details

SUBORDINATED DEBT

6 Months Ended

Jun. 30, 2025

SUBORDINATED DEBT.

SUBORDINATED DEBT

NOTE 11: SUBORDINATED DEBT

At June 30, 2025 and December 31, 2024, FFI had two issuances of subordinated notes outstanding with an aggregate carrying value of $173 million. At June 30, 2025 and December 31, 2024, FFI was in compliance with all covenants under its subordinated debt agreements. The following table summarizes the outstanding subordinated notes as of the dates indicated:


		Current		Current			Carrying Value
	Stated	Interest		Principal			June 30,		December 31,
(dollars in thousands)	Maturity	Rate		Balance		2025		2024
Subordinated notes
Subordinated notes due 2032, 3.50% per annum until February 1, 2027, 3-month SOFR + 2.04% thereafter.	February 1, 2032	3.50	%	$	150,000	$	148,418	$	148,298
Subordinated notes due 2030, 6.0% per annum until June 30, 2025, 3-month SOFR + 5.90% thereafter.	June 30, 2030	6.00	%		24,165		25,072		25,161
Total				$	174,165	$	173,490	$	173,459

INCOME TAXES

6 Months Ended

Jun. 30, 2025

INCOME TAXES

INCOME TAXES

NOTE 12: INCOME TAXES

For the six-month period ended June 30, 2025, the Company recorded an income tax benefit of $3.8 million which generated an effective tax rate of 82.8%. For the six-month period ended June 30, 2024, the Company recorded an income tax benefit of $1.3 million and had an effective tax rate of -52.3%. The changes in the effective tax rate were predominately due to the changes in pretax income, as well as the impact of tax-exempt interest income and tax benefits associated with low-income housing tax credit investments. The effective tax rates differ from the combined federal and state statutory rates for the Company of 27.8% and 28.2% for the six-month periods ended June 30, 2025 and June 30, 2024 respectively due primarily to various permanent tax differences, including tax-exempt income, tax credits from low-income housing tax credit investments, and other items that impact our effective tax rate.

The Company accounts for income taxes by recognizing deferred tax assets and liabilities based upon future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company has experienced cumulative losses over the past three years, primarily due to

the significant increase in market rates experienced since 2022 and the mark-to-market adjustment related to the transfer of approximately $1.9 billion of multifamily loans from loans held for investment to loans held for sale in the third quarter of 2024. However, the Company has not recorded a valuation allowance against its deferred tax assets, as it has implemented a tax planning strategy that is expected to generate sufficient taxable income to realize these assets. This strategy includes dispositioning the aforementioned multifamily loans transferred to loans held for sale. Removing these relatively low-yielding assets from the balance sheet will improve profitability, either through the reduction of high-cost funding or reinvestment of proceeds into higher-yielding assets. Management has evaluated the feasibility of this strategy under current tax laws and considers it both prudent and objectively verifiable. The Company will continue to monitor its performance and reassess the need for a valuation allowance if necessary.

Deferred tax assets totaled $87.0 million and $76.7 million at June 30, 2025 and December 31, 2024, respectively.

- Definition

The entire disclosure for income tax.

+ References

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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2025

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

NOTE 13: SHAREHOLDERS’ EQUITY

FFI is a holding company and does not have any direct operating activities. Any future cash flow needs of FFI are expected to be met by its existing cash and cash equivalents and dividends from its subsidiaries. The Bank is subject to various laws and regulations that limit the amount of dividends that a bank can pay without obtaining prior approval from bank regulators. Additionally, under the terms of the holding company line of credit agreement, FFI may only declare and pay a dividend if the total amount of dividends and stock repurchases does not exceed 50% of FFI’s earnings before interest, taxes, depreciation, and amortization (“EBITDA”) for the current twelve-month period. FFI’s cash and cash equivalents totaled $7.7 million at June 30, 2025 and December 31, 2024.

On July 8, 2024, the Company raised approximately $228 million of gross proceeds in an equity capital raise (“July 2024 Capital Raise”) with certain investors. In the July 2024 Capital Raise, the Company sold and issued to the investors: (a) 11,308,676 shares of common stock at a purchase price per share of $4.10 (on July 1, 2024, the day before the announcement of the July 2024 Capital Raise, the closing price of the common stock was $6.47); (b) 29,811 shares of a new series of preferred stock, par value $0.001 per share, of the Company designated as Series A Noncumulative Convertible Preferred Stock (the “Series A Preferred Stock”), at a price per share of $4,100, and each share of which is convertible into 1,000 shares of common stock, and all of which shares of Series A Preferred Stock represent the right (on an as converted basis) to receive approximately 29,811,000 shares of common stock; (c) 14,490 shares of a new series of preferred stock, par value $0.001 per share, of the Company designated as Series B Noncumulative Preferred Stock (the “Series B Preferred Stock”), at a price per share of $4,100, each share of which is convertible into 1,000 shares of common stock, and all of which shares of Series B Preferred Stock represent the right (on an as converted basis) to receive approximately 14,490,000 shares of common stock; and (d) Issued Warrants, affording the holder thereof the right, until the seven-year anniversary of the issuance of such Issued Warrant, to purchase for $5,125 per share, 22,239 shares of Series C non-voting, common-equivalent preferred stock (the “Series C NVCE Stock”). Each share of Series C NVCE Stock is convertible into 1,000 shares of common stock, all of which shares of Series C NVCE Stock, upon issuance, will represent the right (on an as converted basis) to receive approximately 22,239,000 shares of common stock. The investors were subject to a 180-day lock-up period with respect to the securities purchased. Net proceeds from the July 2024 Capital Raise of $214.5 million, consisting of the $228 million gross proceeds less issuance costs of $13.5 million, were allocated amongst the newly issued equity instruments under the relative fair value method. Under the relative fair value method, each equity instrument was allocated a portion of the net proceeds based on the proportion of its fair value to the sum of the fair values of all of the equity instruments covered in the allocation.

On September 30, 2024, stockholders approved and adopted an amendment to the Company’s certificate of incorporation, as amended, to increase the number of authorized shares of common stock from 100,000,000 shares to 200,000,000 shares and also approved the issuance of shares of common stock in connection with the July 2024 Capital Raise pursuant to NYSE listing rules. As a result of these approvals, all of the issued and outstanding shares of the Series B Preferred Stock automatically converted into shares of common stock as of the close of business on October 2, 2024, in accordance with the terms of the Certificate of Designation for the Series B Preferred Stock. In addition, the quarterly non-

cumulative cash dividend (annual rate of 13%) and liquidation preference rights of the Series A Preferred Stock ceased to apply. Shares of Series A Preferred Stock (a) are now entitled to receive dividends at the same time and on the same terms as shares of common stock in accordance with the Certificate of Designation for the Series A Preferred Stock, and (b) rank as equal to shares of common stock in any liquidation of the Company. Furthermore, the Company will not be required to issue any cash-settled warrants to the investors who participated in the July 2024 Capital Raise. At June 30, 2025 and December 31, 2024, there were no declared dividends outstanding with respect to the Series A Preferred Stock.

- Definition

The entire disclosure for equity.

+ References

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

EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2025

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 14: EARNINGS PER SHARE

Basic earnings per share (“EPS”) excludes dilution and is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if contracts to issue common stock were exercised or converted into common stock that would then share in earnings. As part of the aforementioned July 2024 Capital Raise, the Company issued warrants (See Note 13: Shareholders’ Equity) which are considered for potential dilution. In addition to the warrants, other contingent shares issuable include restricted stock units issued by the Company under its equity incentive plans.

For the three-month period ended June 30, 2025, the average common share price was below the $5.125 per share exercise price (on an as-converted basis) of the warrants. For the six-month period ended June 30, 2025, the average common share price was above the $5.125 per share exercise price (on an as-converted basis) of the warrants. As the average common share price was above the $5.125 per share exercise price (on an as-converted basis) of the warrants for the six-month period June 30, 2025, the warrants would have been included in the dilutive share count and diluted earnings per share for the six-month period ended June 30, 2025, if the Company had positive earnings for the period. In addition, 8,825 and 11,696 in restricted stock units are included in diluted shares for the three-month and six-month periods ended of June 30, 2024, respectively.

There were no stock options outstanding as of June 30, 2025 and June 30, 2024, respectively.

The following table sets forth the Company’s unaudited earnings per share calculations for the three-month and six-month periods ended June 30:


	Three Months Ended				Three Months Ended
	June 30, 2025				June 30, 2024
(dollars in thousands, except per share amounts)	Basic		Diluted		Basic		Diluted
Net (loss) income	$	(7,690)	$	(7,690)	$	3,085	$	3,085
Weighted average basic common shares outstanding		82,386,071		82,386,071		56,523,640		56,523,640
Dilutive effect of options, restricted stock, warrants, and contingent shares issuable				—				8,825
Diluted common shares outstanding				82,386,071				56,532,465
Net (loss) income per share	$	(0.09)	$	(0.09)	$	0.05	$	0.05


	Six Months Ended				Six Months Ended
	June 30, 2025				June 30, 2024
(dollars in thousands, except share and per share amounts)	Basic		Diluted		Basic		Diluted
Net (loss) income	$	(794)	$	(794)	$	3,878	$	3,878
Weighted average basic common shares outstanding		82,379,878		82,379,878		56,504,148		56,504,148
Dilutive effect of options, restricted stock, warrants, and contingent shares issuable				—				11,696
Diluted common shares outstanding				82,379,878				56,515,844
Net (loss) income per share	$	(0.01)	$	(0.01)	$	0.07	$	0.07

SEGMENT REPORTING

6 Months Ended

Jun. 30, 2025

SEGMENT REPORTING

SEGMENT REPORTING

NOTE 15: SEGMENT REPORTING

For the three and six months ended June 30, 2025 and 2024, the Company had two reportable business segments: Banking (FFB) and Wealth Management (FFA). The results of FFI and any elimination entries are included in the column labeled Other. The reportable segments are determined by products and services offered and the corporate structure. Business segment earnings before taxes are the primary measure of the segment’s performance as evaluated by management. Business segment earnings before taxes include direct revenue and expenses of the segment as well as corporate and inter-company cost allocations. Allocations of corporate expenses, such as finance and accounting, data processing and human resources are calculated based on estimated activity or usage levels. The management accounting process measures the performance of the operating segments based on the Company’s management structure and is not necessarily comparable with similar information for other financial services companies. If the management structures and/or the allocation process changes, allocations, transfers, and assignments may change.

In accordance with ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, the significant expenses shown in the tables below are those that are regularly provided to the chief operating decision maker (“CODM”) who regularly uses them, along with other information in assessing the segments’ performance and in decisions regarding the allocation of resources. With respect to ASU 2023-07, the CODM for the Company is the

Chief Executive Officer. The following tables show key operating results for each of our business segments used to arrive at our consolidated totals for the following periods:


			Wealth
(dollars in thousands)	Banking		Management		Other		Total
Three Months Ended June 30, 2025:
Interest income	$	137,125	$	—	$	—	$	137,125
Interest expense		85,338		—		1,705		87,043
Net interest income		51,787		—		(1,705)		50,082
Provision for credit losses		2,366		—		—		2,366
Noninterest income		(5,384)		7,077		(355)		1,338
Noninterest expense
Compensation and benefits		17,517		5,124		249		22,890
Customer service costs		12,983		—		—		12,983
Professional services and marketing costs		5,844		928		466		7,238
Other		15,446		654		713		16,813
(Loss) income before income taxes		(7,753)		371		(3,488)		(10,870)
Income tax (benefit) expense		(2,336)		107		(951)		(3,180)
Net (loss) income	$	(5,417)	$	264	$	(2,537)	$	(7,690)

Three Months Ended June 30, 2024:
Interest income	$	150,914	$	—	$	—	$	150,914
Interest expense		105,380		—		1,705		107,085
Net interest income		45,534		—		(1,705)		43,829
Provision (reversal) for credit losses		(806)		—		—		(806)
Noninterest income		6,241		7,790		(373)		13,658
Noninterest expense
Compensation and benefits		14,821		4,079		195		19,095
Customer service costs		16,104		—		—		16,104
Professional services and marketing costs		2,656		926		85		3,667
Other		15,720		679		364		16,763
Income (loss) before income taxes		3,280		2,106		(2,722)		2,664
Income tax (benefit) expense		(255)		594		(760)		(421)
Net income (loss)	$	3,535	$	1,512	$	(1,962)	$	3,085


			Wealth
(dollars in thousands)	Banking		Management		Other		Total
Six Months Ended June 30, 2025:
Interest income	$	278,867	$	—	$	—	$	278,867
Interest expense		173,591		—		3,395		176,986
Net interest income		105,276		—		(3,395)		101,881
Provision for credit losses		5,783		—		—		5,783
Noninterest income		7,026		14,626		(712)		20,940
Noninterest expense
Compensation and benefits		38,343		10,846		(1,191)		47,998
Customer service costs		28,034		—		—		28,034
Professional services and marketing costs		10,339		2,037		769		13,145
Other		30,200		1,278		990		32,468
(Loss) income before income taxes		(397)		465		(4,675)		(4,607)
Income tax expense (benefit)		(2,709)		146		(1,250)		(3,813)
Net income (loss)	$	2,312	$	319	$	(3,425)	$	(794)

Six Months Ended June 30, 2024:
Interest income	$	301,367	$	—	$	—	$	301,367
Interest expense		215,742		—		3,410		219,152
Net interest income		85,625		—		(3,410)		82,215
Provision (reversal) for credit losses		(229)		—		—		(229)
Noninterest income		11,924		15,139		(722)		26,341
Noninterest expense
Compensation and benefits		29,993		8,174		335		38,502
Customer service costs		26,842		—		—		26,842
Professional services and marketing costs		5,188		1,827		42		7,057
Other		31,818		1,359		660		33,837
Income (loss) before income taxes		3,937		3,779		(5,169)		2,547
Income tax (benefit) expense		(966)		1,081		(1,446)		(1,331)
Net income (loss)	$	4,903	$	2,698	$	(3,723)	$	3,878

- 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.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (7,690)	$ 3,085	$ (794)	$ 3,878

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Paragraph 1A
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
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Reference 43: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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Reference 44: http://www.xbrl.org/2003/role/disclosureRef
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Reference 45: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 46: http://www.xbrl.org/2003/role/disclosureRef
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Reference 47: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
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Reference 48: http://www.xbrl.org/2003/role/disclosureRef
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Reference 49: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	First Foundation Inc. (“FFI”) is a financial services holding company whose operations are conducted through its wholly owned subsidiaries: First Foundation Advisors (“FFA”) and First Foundation Bank (“FFB” or the “Bank”) and the wholly owned subsidiaries of FFB, First Foundation Public Finance (“FFPF”), First Foundation Insurance Services (“FFIS”) and Blue Moon Management, LLC (collectively the “Company”). FFI also has two inactive wholly owned subsidiaries, First Foundation Consulting and First Foundation Advisors, LLC. FFI is incorporated in the state of Delaware. The corporate headquarters for FFI is located in Irving, Texas. The Company provides a comprehensive platform of financial services to individuals, businesses and other organizations and has offices in California, Nevada, Florida, Texas, and Hawaii.
Basis of presentation	The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and prevailing practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. The accompanying unaudited consolidated financial statements include the accounts of the Company as of June 30, 2025 and December 31, 2024, and for the six months ended June 30, 2025 and 2024, and include all information and footnotes required for interim financial reporting presentation. All intercompany accounts and transactions have been eliminated in consolidation. The results for the 2025 interim periods are not necessarily indicative of the results expected for the full year. These financial statements assume that readers have read the most recent Annual Report on Form 10-K filed with the SEC which contains the latest available audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2024.
New Accounting Pronouncements	New Accounting Pronouncements Recent Accounting Guidance Not Yet Effective In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (Topic 740 – Improvements to Income Tax Disclosures. The FASB issued this Update to enhance the transparency and decision usefulness of income tax disclosures. The amendments to this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid. The amendments in this Update are effective for annual periods beginning after December 15, 2024, and are not expected to have a material impact on the Company’s consolidated financial statements.

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2025

FAIR VALUE MEASUREMENTS

Recorded Amounts of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables show the recorded amounts of assets and liabilities measured at fair value on a recurring basis as of:


			Fair Value Measurement Level
(dollars in thousands)	Total		Level 1		Level 2		Level 3
June 30, 2025:
Investment securities available-for-sale:
Collateralized mortgage obligations	$	204,419	$	—	$	204,419	$	—
Agency mortgage-backed securities		1,089,071		—		1,089,071		—
Municipal bonds		46,209		—		46,209		—
SBA securities		7,889		—		7,889		—
Beneficial interests in FHLMC securitization		841		—		—		841
Corporate bonds		119,701		—		119,701		—
U.S. Treasury		992		992		—		—
Total investment securities available for sale at fair value on a recurring basis	$	1,469,122	$	992	$	1,467,289	$	841

Derivative liabilities:
Interest rate swap and cash flow hedge	$	8,689	$	—	$	8,689	$	—

December 31, 2024:
Investment securities available-for-sale:
Collateralized mortgage obligations	$	9,842	$	—	$	9,842	$	—
Agency mortgage-backed securities		1,121,626		—		1,121,626		—
Municipal bonds		45,535		—		45,535		—
SBA securities		9,145		—		9,145		—
Beneficial interests in FHLMC securitization		1,242		—		—		1,242
Corporate bonds		125,817		14,100		111,717		—
U.S. Treasury		678		678		—		—
Total investment securities available for sale at fair value on a recurring basis	$	1,313,885	$	14,778	$	1,297,865	$	1,242

Derivatives assets:
Cash flow hedge	$	5,086	$	—	$	5,086	$	—

Carrying Amounts and Estimated Fair Value of Financial Instruments

The following table sets forth the estimated fair values and related carrying amounts of our financial instruments as of:


	Carrying		Fair Value Measurement Level
(dollars in thousands)	Value		1		2		3		Total
June 30, 2025:
Assets:
Cash and cash equivalents	$	1,055,614	$	1,055,614	$	—	$	—	$	1,055,614
Securities AFS, net		1,469,122		992		1,467,289		841		1,469,122
Securities HTM		663,807		—		604,367		—		604,367
Loans held for sale		476,727		—		—		476,727		476,727
Loans held for investment, net		7,510,763		—		44,196		7,335,483		7,379,679
Investment in equity securities		11,799		—		—		11,799		11,799
Accrued interest receivable		50,538		50,538		—		—		50,538
Liabilities:
Deposits	$	8,593,693	$	6,744,399	$	1,856,771	$	—	$	8,601,170
Borrowings		1,669,315		—		1,696,461		—		1,696,461
Subordinated debt		173,490		—		—		156,564		156,564
Accrued interest payable		18,273		18,273		—		—		18,273
Derivative liabilities		8,689		—		8,689		—		8,689

December 31, 2024:
Assets:
Cash and cash equivalents	$	1,016,132	$	1,016,132	$	—	$	—	$	1,016,132
Securities AFS, net		1,313,885		14,778		1,297,865		1,242		1,313,885
Securities HTM		712,105		—		636,840		—		636,840
Loans held for sale		1,285,819		—		—		1,285,819		1,285,819
Loans held for investment, net		7,909,091		—		16,663		7,595,925		7,612,588
Investment in equity securities		11,798		—		—		11,798		11,798
Accrued interest receivable		54,804		54,804		—		—		54,804
Derivative assets		5,086		—		5,086		—		5,086
Liabilities:
Deposits	$	9,870,279	$	7,476,826	$	2,389,896	$	—	$	9,866,722
Borrowings		1,425,369		—		1,430,337		—		1,430,337
Subordinated debt		173,459		—		—		142,631		142,631
Accrued interest payable		27,701		27,701		—		—		27,701

SECURITIES (Tables)

6 Months Ended

Jun. 30, 2025

SECURITIES

Summary of AFS Securities Portfolio

The following table provides a summary of the Company’s securities AFS portfolio as of:


	Amortized		Gross Unrealized				Allowance for		Estimated
(dollars in thousands)	Cost		Gains		Losses		Credit Losses		Fair Value
June 30, 2025:
Collateralized mortgage obligations	$	205,981	$	—	$	(1,562)	$	—	$	204,419
Agency mortgage-backed securities		1,093,563		243		(4,735)		—		1,089,071
Municipal bonds		48,749		—		(2,540)		—		46,209
SBA securities		7,945		4		(60)		—		7,889
Beneficial interests in FHLMC securitization		841		—		—		—		841
Corporate bonds		127,732		—		(7,380)		(651)		119,701
U.S. Treasury		999		6		(13)		—		992
Total	$	1,485,810	$	253	$	(16,290)	$	(651)	$	1,469,122

December 31, 2024:
Collateralized mortgage obligations	$	11,121	$	—	$	(1,279)	$	—	$	9,842
Agency mortgage-backed securities		1,126,861		2,308		(7,543)		—		1,121,626
Municipal bonds		48,921		—		(3,386)		—		45,535
SBA securities		9,236		2		(93)		—		9,145
Beneficial interests in FHLMC securitization		4,619		—		—		(3,377)		1,242
Corporate bonds		133,767		—		(7,193)		(757)		125,817
U.S. Treasury		700		—		(22)		—		678
Total	$	1,335,225	$	2,310	$	(19,516)	$	(4,134)	$	1,313,885

Summary of HTM Securities Portfolio


	Amortized		Gross Unrecognized				Allowance for		Estimated
(dollars in thousands)	Cost		Gains		Losses		Credit Losses		Fair Value
June 30, 2025:
Agency mortgage-backed securities	$	663,807	$	—	$	(59,440)	$	—	$	604,367
Total	$	663,807	$	—	$	(59,440)	$	—	$	604,367

December 31, 2024:
Agency mortgage-backed securities	$	712,105	$	—	$	(75,265)	$	—	$	636,840
Total	$	712,105	$	—	$	(75,265)	$	—	$	636,840

Schedule of Securities in a Continuous Unrealized Loss Position Aggregated by Investment Category and Length of Time

The tables below indicate the gross unrealized losses and fair values of our securities AFS portfolio, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position.


	Securities with Unrealized Loss at June 30, 2025
	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Collateralized mortgage obligations	$	197,644	$	(459)	$	6,775	$	(1,103)	$	204,419	$	(1,562)
Agency mortgage-backed securities		996,966		(4,476)		3,803		(259)		1,000,769		(4,735)
Municipal bonds		492		(8)		45,488		(2,532)		45,980		(2,540)
SBA securities		204		—		6,646		(60)		6,850		(60)
Corporate bonds		19,876		(124)		100,476		(7,256)		120,352		(7,380)
U.S. Treasury		—		—		487		(13)		487		(13)
Total	$	1,215,182	$	(5,067)	$	163,675	$	(11,223)	$	1,378,857	$	(16,290)


	Securities with Unrealized Loss at December 31, 2024
	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Collateralized mortgage obligations	$	2,874	$	(51)	$	6,968	$	(1,228)	$	9,842	$	(1,279)
Agency mortgage-backed securities		719,329		(7,218)		4,280		(325)		723,609		(7,543)
Municipal bonds		2,129		(101)		43,405		(3,285)		45,534		(3,386)
SBA securities		614		(1)		7,739		(92)		8,353		(93)
Corporate bonds		14,242		(758)		112,333		(6,435)		126,575		(7,193)
U.S. Treasury		—		—		678		(22)		678		(22)
Total	$	739,188	$	(8,129)	$	175,403	$	(11,387)	$	914,591	$	(19,516)


	Securities with Unrecognized Loss at June 30, 2025
	Less than 12 months				12 months or more				Total
	Fair		Unrecognized		Fair		Unrecognized		Fair		Unrecognized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Agency mortgage-backed securities	$	—	$	—	$	604,367	$	(59,440)	$	604,367	$	(59,440)
Total	$	—	$	—	$	604,367	$	(59,440)	$	604,367	$	(59,440)


	Securities with Unrecognized Loss at December 31, 2024
	Less than 12 months				12 months or more				Total
	Fair		Unrecognized		Fair		Unrecognized		Fair		Unrecognized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Agency mortgage-backed securities	$	15,440	$	(61)	$	621,400	$	(75,204)	$	636,840	$	(75,265)
Total	$	15,440	$	(61)	$	621,400	$	(75,204)	$	636,840	$	(75,265)

Summary of Allowance For Credit Losses - Securities AFS


		Beginning		Provision (Reversal)						Ending
(dollars in thousands)		Balance		for Credit Losses		Charge-offs		Recoveries		Balance

Three Months Ended June 30, 2025:
Beneficial interests in FHLMC securitization	$	3,361	$	—	$	(3,361)	$	—	$	—
Corporate bonds		666		(15)		—		—		651
Total	$	4,027	$	(15)	$	(3,361)	$	—	$	651

Six Months Ended June 30, 2025:
Beneficial interests in FHLMC securitization	$	3,377	$	(16)	$	(3,361)	$	—	$	—
Corporate bonds		757		(106)		—		—		651
Total	$	4,134	$	(122)	$	(3,361)	$	—	$	651

Three Months Ended June 30, 2024:
Beneficial interests in FHLMC securitization	$	6,593	$	(91)	$	—	$	—	$	6,502
Corporate bonds		1,318		(478)		—		—		840
Total	$	7,911	$	(569)	$	—	$	—	$	7,342

Six Months Ended June 30, 2024:
Beneficial interests in FHLMC securitization	$	6,818	$	(316)	$	—	$	—	$	6,502
Corporate bonds		1,402		(562)		—		—		840
Total	$	8,220	$	(878)	$	—	$	—	$	7,342

Schedule Maturities of Securities AFS by Contractual Maturity

The amortized cost and fair value of investment securities AFS by contractual maturity were as follows for the periods indicated:


	1 Year or			More than 1 Year			More than 5 Years			More than
(dollars in thousands)	Less			through 5 Years			through 10 Years			10 Years			Total
June 30, 2025
Amortized Cost:
Collateralized mortgage obligations	$	—		$	216		$	417		$	205,348		$	205,981
Agency mortgage-backed securities		—			2,525			—			1,091,038			1,093,563
Municipal bonds		2,604			20,552			24,497			1,096			48,749
SBA securities		—			485			111			7,349			7,945
Beneficial interests in FHLMC securitization		—			841			—			—			841
Corporate bonds		3,005			57,969			61,236			5,522			127,732
U.S. Treasury		500			499			—			—			999
Total	$	6,109		$	83,087		$	86,261		$	1,310,353		$	1,485,810
Weighted average yield		2.67	%		5.53	%		3.10	%		5.34	%		5.21	%
Estimated Fair Value:
Collateralized mortgage obligations	$	—		$	205		$	394		$	203,820		$	204,419
Agency mortgage-backed securities		—			2,463			—			1,086,608			1,089,071
Municipal bonds		2,602			19,881			22,872			854			46,209
SBA securities		—			484			111			7,294			7,889
Beneficial interests in FHLMC securitization		—			841			—			—			841
Corporate bonds		2,932			56,452			56,578			4,390			120,352
U.S. Treasury		487			505			—			—			992
Total	$	6,021		$	80,831		$	79,955		$	1,302,966		$	1,469,773


	1 Year or			More than 1 Year			More than 5 Years			More than
(dollars in thousands)	Less			through 5 Years			through 10 Years			10 Years			Total
December 31, 2024
Amortized Cost:
Collateralized mortgage obligations	$	—		$	276		$	154		$	10,691		$	11,121
Agency mortgage-backed securities		48			2,992			—			1,123,821			1,126,861
Municipal bonds		2,594			14,874			29,218			2,235			48,921
SBA securities		—			418			388			8,430			9,236
Beneficial interests in FHLMC securitization		—			4,619			—			—			4,619
Corporate bonds		—			61,961			66,282			5,524			133,767
U.S. Treasury		200			500			—			—			700
Total	$	2,842		$	85,640		$	96,042		$	1,150,701		$	1,335,225
Weighted average yield		1.99	%		5.83	%		3.01	%		5.50	%		5.34	%
Estimated Fair Value:
Collateralized mortgage obligations	$	—		$	256		$	150		$	9,436		$	9,842
Agency mortgage-backed securities		47			2,882			—			1,118,697			1,121,626
Municipal bonds		2,573			14,120			27,065			1,777			45,535
SBA securities		—			416			388			8,341			9,145
Beneficial interests in FHLMC securitization		—			4,619			—			—			4,619
Corporate bonds		—			60,318			61,889			4,367			126,574
U.S. Treasury		200			478			—			—			678
Total	$	2,820		$	83,089		$	89,492		$	1,142,618		$	1,318,019

Schedule of Maturities of Securities HTM


	1 Year or			More than 1 Year			More than 5 Years			More than
(dollars in thousands)	Less			through 5 Years			through 10 Years			10 Years			Total
June 30, 2025
Amortized Cost:
Agency mortgage-backed securities	$	—		$	5,752		$	9,027		$	649,028		$	663,807
Total	$	—		$	5,752		$	9,027		$	649,028		$	663,807
Weighted average yield		—	%		1.08	%		1.77	%		2.22	%		2.21	%

Estimated Fair Value:
Agency mortgage-backed securities	$	—		$	5,476		$	8,329		$	590,562		$	604,367
Total	$	—		$	5,476		$	8,329		$	590,562		$	604,367


	1 Year or			More than 1 Year			More than 5 Years			More than
(dollars in thousands)	Less			through 5 Years			through 10 Years			10 Years			Total
December 31, 2024
Amortized Cost:
Agency mortgage-backed securities	$	—		$	4,542		$	8,900		$	698,663		$	712,105
Total	$	—		$	4,542		$	8,900		$	698,663		$	712,105
Weighted average yield		—	%		0.99	%		1.58	%		2.24	%		2.22	%

Estimated Fair Value:
Agency mortgage-backed securities	$	—		$	4,287		$	8,128		$	624,425		$	636,840
Total	$	—		$	4,287		$	8,128		$	624,425		$	636,840

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Section 50
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
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-Topic 320
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Topic 320
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

LOANS (Tables)

6 Months Ended

Jun. 30, 2025

LOANS

Schedule of summary of loans held for investment


	June 30,		December 31,
(dollars in thousands)	2025		2024
Outstanding principal balance:
Loans secured by real estate:
Residential properties:
Multifamily	$	3,288,093	$	3,341,823
Single-family		822,508		873,491
Total real estate loans secured by residential properties		4,110,601		4,215,314
Commercial properties		818,738		904,167
Land and construction		43,361		69,246
Total real estate loans		4,972,700		5,188,727
Commercial and industrial loans		2,568,621		2,746,351
Consumer loans		1,544		1,137
Total loans		7,542,865		7,936,215
Premiums, discounts and deferred fees and expenses		5,458		5,178
Total	$	7,548,323	$	7,941,393

Summary of delinquent and nonaccrual loans

The following table summarizes our delinquent and nonaccrual loans as of:


	Past Due and Still Accruing												Total Past
							90 Days						Due and
(dollars in thousands)	30–59 Days			60-89 Days			or More			Nonaccrual			Nonaccrual			Current		Total
June 30, 2025:
Real estate loans:
Residential properties	$	10,858		$	—		$	—		$	18,779		$	29,637		$	4,090,114	$	4,119,751
Commercial properties		3,180			—			355			6,006			9,541			808,801		818,342
Land and construction		—			—			—			—			—			43,317		43,317
Commercial and industrial loans		637			168			—			9,842			10,647			2,554,717		2,565,364
Consumer loans		—			—			—			—			—			1,549		1,549
Total	$	14,675		$	168		$	355		$	34,627		$	49,825		$	7,498,498	$	7,548,323

Percentage of total loans		0.19	%		0.00	%		0.00	%		0.46	%		0.66	%

December 31, 2024:
Real estate loans:
Residential properties	$	7,083		$	—		$	—		$	23,324		$	30,407		$	4,193,994	$	4,224,401
Commercial properties		7,944			428			12,900			7,946			29,218			874,463		903,681
Land and construction		—			—			—			—			—			69,134		69,134
Commercial and industrial loans		997			617			—			9,174			10,788			2,732,226		2,743,014
Consumer loans		—			—			—			—			—			1,163		1,163
Total	$	16,024		$	1,045		$	12,900		$	40,444		$	70,413		$	7,870,980	$	7,941,393

Percentage of total loans		0.20	%		0.01	%		0.16	%		0.51	%		0.89	%

Summary of nonaccrual loans


	Nonaccrual		Nonaccrual
	with Allowance		with no Allowance
(dollars in thousands)	for Credit Losses		for Credit Losses
June 30, 2025:
Real estate loans:
Residential properties	$	1,363	$	17,416
Commercial properties		585		5,421
Commercial and industrial loans		9,834		8
Total	$	11,782	$	22,845

December 31, 2024:
Real estate loans:
Residential properties	$	1,420	$	21,904
Commercial properties		3,449		4,497
Commercial and industrial loans		9,174		—
Total	$	14,043	$	26,401

Schedule of composition of TDRs by accrual and nonaccrual status


	June 30, 2025:
	Term Extension
		Amortized Cost Basis	% of Total Class of Loans		Financial Effect
Residential loans	$	36	0.001	%	1 loan with 4 months of payment deferrals.
Commercial real estate loans	$	411	0.05	%	1 loan with 6 month term extension.
Commercial and industrial loans	$	4,679	0.18	%	1 loan with payment deferral of 151 months with 50% payments until paid in full; 8 loans with payment deferrals of either 2 or 3 months with $100 monthly payments; 2 loans with payment deferrals of 2 months; 3 loans with term extensions and payment deferrals ranging from 12 to 52 months.
Total	$	5,126

	Combination
		Amortized Cost Basis	% of Total Class of Loans		Financial Effect
Commercial and industrial loans	$	291	0.01	%	4 loans with extensions of loan maturity of 2 and 3 months and payment deferral.
Total	$	291

	Total
		Amortized Cost Basis	% of Total Class of Loans
Residential loans	$	36	0.001	%
Commercial real estate loans		411	0.05	%
Commercial and industrial loans		4,970	0.19	%
Total	$	5,417

	June 30, 2024:
	Term Extension
		Amortized Cost Basis	% of Total Class of Loans		Financial Effect
Commercial real estate loans	$	12,900	1.30	%	1 loan with term extension of 10 months.
Commercial and industrial loans	$	1,269	0.04	%	4 loans with various extensions of loan maturity ranging from 3 to 62.5 months. 1 loan with 3-month extension and 3-month forbearance. 1 loan with $100 payments through 3 months.
Total	$	14,169

	Combination
		Amortized Cost Basis	% of Total Class of Loans		Financial Effect
Commercial and industrial loans		7,183	0.01	%	4 loans with various extensions of loan maturity ranging from 6 to 19 months and payment deferral. 1 loan with 5 month forbearance followed by interest rate reduction. 1 loan with $100 payments through 3 months with payment deferral.
Total	$	7,183

	Total
		Amortized Cost Basis	% of Total Class of Loans
Commercial real estate loans		12,900	1.30	%
Commercial and industrial loans		8,452	0.05	%
Total	$	21,352

Schedule of financing receivable 12 months after modification


	June 30, 2025:
	Term Extension
		# of Loans Defaulted		Amortized Cost Basis
Commercial and industrial loans		2	$	66
Total		2	$	66

	Combination
		# of Loans Defaulted		Amortized Cost Basis
Commercial and industrial loans		1	$	154
Total		1	$	154

	Total
		# of Loans Defaulted		Amortized Cost Basis
Commercial and industrial loans		3	$	220
Total		3	$	220

The following table presents the payment status of our loan modifications made during the previous twelve-month periods ended July 1, 2024 to June 30, 2025 and July 1, 2023 to June 30, 2024, respectively:


			30-89 Days		90+ Days
(dollars in thousands)		Current	Past Due		Past Due			Nonaccrual	Total
June 30, 2025:
Residential loans	$	39	$	—	$	—	$	—	$	39
Commercial real estate loans		—		—		—		411		411
Commercial and industrial loans		2,069		—		—		8,284		10,353
Total	$	2,108	$	—	$	—	$	8,695	$	10,803

			30-89 Days		90+ Days
(dollars in thousands)		Current	Past Due		Past Due			Nonaccrual	Total
June 30, 2024:
Residential loans	$	247	$	—	$	—	$	—	$	247
Commercial real estate loans		13,515		—		—		—		13,515
Commercial and industrial loans		13,635		—		—		8,055		21,690
Total	$	27,397	$	—	$	—	$	8,055	$	35,452

ALLOWANCE FOR CREDIT LOSSES (Tables)

6 Months Ended

Jun. 30, 2025

ALLOWANCE FOR CREDIT LOSSES

Schedule of allowance for credit losses

The following is a rollforward of the allowance for credit losses related to loans held for investment for the following periods:


			Provision
	Beginning		(Reversal) for						Ending
(dollars in thousands)	Balance		Credit Losses		Charge-offs		Recoveries		Balance
Three Months Ended June 30, 2025:
Real estate loans:
Residential properties	$	6,544	$	236	$	—	$	—	$	6,780
Commercial properties		5,861		529		—		—		6,390
Land and construction		46		47		—		—		93
Commercial and industrial loans		22,739		1,680		(492)		357		24,284
Consumer loans		10		3		—		—		13
Total	$	35,200	$	2,495	$	(492)	$	357	$	37,560

Six Months Ended June 30, 2025:
Real estate loans:
Residential properties	$	7,216	$	(442)	$	—	$	6	$	6,780
Commercial properties		6,683		(293)		—		—		6,390
Land and construction		61		32		—		—		93
Commercial and industrial loans		18,333		6,284		(895)		562		24,284
Consumer loans		9		4		—		—		13
Total	$	32,302	$	5,585	$	(895)	$	568	$	37,560

Three Months Ended June 30, 2024:
Real estate loans:
Residential properties	$	8,374		639		—		—	$	9,013
Commercial properties		4,597		1,489		—		—		6,086
Land and construction		66		11		—		—		77
Commercial and industrial loans		16,251		(1,930)		(369)		152		14,104
Consumer loans		7		8		—		—		15
Total	$	29,295	$	217	$	(369)	$	152	$	29,295

Six Months Ended June 30, 2024:
Real estate loans:
Residential properties	$	9,921	$	(908)	$	—	$	—	$	9,013
Commercial properties		4,148		1,938		—		—		6,086
Land and construction		332		(255)		—		—		77
Commercial and industrial loans		14,796		(133)		(862)		303		14,104
Consumer loans		8		6		—		1		15
Total	$	29,205	$	648	$	(862)	$	304	$	29,295

Schedule of the amortized cost basis of collateral dependent loans and the related ACL allocated to these loans

A loan is considered collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the operation or sale of the collateral. Collateral dependent loans are evaluated individually to determine expected credit losses and any ACL allocation is determined based upon the amount by which amortized costs exceed the estimated fair value of the collateral, adjusted for estimated selling costs (if applicable). The following table presents the amortized cost basis of collateral dependent loans and the related ACL allocated to these loans as of the dates indicated:


					Equipment/					ACL
(dollars in thousands)	Real Estate		Cash		Receivables		Total			Allocation
June 30, 2025:
Loans secured by real estate:
Residential properties
Multifamily	$	1,449	$	—	$	—	$	1,449	$	—
Single-family		15,967		—		—		15,967		—
Commercial real estate loans		5,421		—		—		5,421		—
Commercial loans		8		—		3,339		3,347		509
Total	$	22,845	$	—	$	3,339	$	26,184	$	509

December 31, 2024:
Loans secured by real estate:
Residential properties
Multifamily	$	2,802	$	—	$	—	$	2,802	$	—
Single-family		15,856		—		—		15,856		—
Commercial real estate loans		4,497		—		—		4,497		—
Commercial loans		—		—		3,935		3,935		697
Total	$	23,155	$	—	$	3,935	$	27,090	$	697

Summary of risk categories of loans based on year of origination

The following tables present risk categories of loans held for investment based on year of origination, and includes gross charge-offs in accordance with ASU 2022-02 as of the dates presented:


													Revolving
(dollars in thousands)	2025		2024		2023		2022		2021		Prior		Loans		Total
June 30, 2025:
Loans secured by real estate:
Residential
Multifamily
Pass	$	60,610	$	87,402	$	534	$	1,679,791	$	731,151	$	488,825	$	—	$	3,048,313
Special mention		—		—		—		21,402		48,611		54,576		—		124,589
Substandard		—		—		—		5,998		14,601		100,410		—		121,009
Total	$	60,610	$	87,402	$	534	$	1,707,191	$	794,363	$	643,811	$	—	$	3,293,911
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Single-family
Pass	$	618	$	5,400	$	9,400	$	240,404	$	247,346	$	267,671	$	37,121	$	807,960
Special mention		—		—		—		—		—		—		526		526
Substandard		—		—		—		—		—		17,196		158		17,354
Total	$	618	$	5,400	$	9,400	$	240,404	$	247,346	$	284,867	$	37,805	$	825,840
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate
Pass	$	—	$	3,123	$	2,377	$	210,730	$	101,932	$	467,033	$	—	$	785,195
Special mention		—		—		—		7,722		1,171		12,941		—		21,834
Substandard		—		—		—		—		3,118		8,195		—		11,313
Total	$	—	$	3,123	$	2,377	$	218,452	$	106,221	$	488,169	$	—	$	818,342
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Land and construction
Pass	$	—	$	122	$	—	$	33,542	$	4,373	$	5,136	$	—	$	43,173
Special mention		—		—		—		—		—		144		—		144
Substandard		—		—		—		—		—		—		—		—
Total	$	—	$	122	$	—	$	33,542	$	4,373	$	5,280	$	—	$	43,317
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial
Pass	$	3,334	$	63,857	$	106,996	$	907,490	$	169,743	$	99,280	$	1,083,838	$	2,434,538
Special mention		—		627		4,465		9,719		52,670		657		9,713		77,851
Substandard		1,575		2,438		40,037		23		296		2,226		6,380		52,975
Total	$	4,909	$	66,922	$	151,498	$	917,232	$	222,709	$	102,163	$	1,099,931	$	2,565,364
Gross charge-offs	$	—	$	32	$	352	$	290	$	210	$	11	$	—	$	895

Consumer
Pass	$	70	$	—	$	591	$	—	$	102	$	44	$	742	$	1,549
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total	$	70	$	—	$	591	$	—	$	102	$	44	$	742	$	1,549
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total loans
Pass	$	64,632	$	159,904	$	119,898	$	3,071,957	$	1,254,647	$	1,327,989	$	1,121,701	$	7,120,728
Special mention		—		627		4,465		38,843		102,452		68,318		10,239		224,944
Substandard		1,575		2,438		40,037		6,021		18,015		128,027		6,538		202,651
Total	$	66,207	$	162,969	$	164,400	$	3,116,821	$	1,375,114	$	1,524,334	$	1,138,478	$	7,548,323
Gross charge-offs	$	—	$	32	$	352	$	290	$	210	$	11	$	—	$	895


													Revolving
(dollars in thousands)	2024		2023		2022		2021		2020		Prior		Loans		Total
December 31, 2024:
Loans secured by real estate:
Residential
Multifamily
Pass	$	101,311	$	539	$	1,701,974	$	749,864	$	369,887	$	241,935	$	—	$	3,165,510
Special mention		—		—		—		47,090		18,572		8,623		—		74,285
Substandard		—		—		13,231		—		18,234		76,185		—		107,650
Total	$	101,311	$	539	$	1,715,205	$	796,954	$	406,693	$	326,743	$	—	$	3,347,445
Gross charge-offs	$	—		—		—		—		—		657		—	$	657

Single-family
Pass	$	5,410	$	9,441	$	247,252	$	255,096	$	90,422	$	203,116	$	44,580	$	855,317
Special mention		—		—		—		—		—		—		510		510
Substandard		—		—		—		—		—		21,104		25		21,129
Total	$	5,410	$	9,441	$	247,252	$	255,096	$	90,422	$	224,220	$	45,115	$	876,956
Gross charge-offs	$	—		—		—		—		—		—		—	$	—

Commercial real estate
Pass	$	3,784	$	2,398	$	217,827	$	115,582	$	136,414	$	378,101	$	—	$	854,106
Special mention		—		—		1,637		1,299		7,966		4,795		—		15,697
Substandard		—		12,900		—		—		845		20,133		—		33,878
Total	$	3,784	$	15,298	$	219,464	$	116,881	$	145,225	$	403,029	$	—	$	903,681
Gross charge-offs	$	—		—		—		—		—		964		—	$	964

Land and construction
Pass	$	125	$	24,970	$	32,877	$	4,444	$	1,035	$	5,683	$	—	$	69,134
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total	$	125	$	24,970	$	32,877	$	4,444	$	1,035	$	5,683	$	—	$	69,134
Gross charge-offs	$	—		—		—		—		—		—		—	$	—

Commercial
Pass	$	66,699	$	151,580	$	972,111	$	234,062	$	88,657	$	27,220	$	1,147,464	$	2,687,793
Special mention		690		3,400		9,430		24,087		—		605		7,602		45,814
Substandard		2,593		31		28		422		12		2,218		4,103		9,407
Total	$	69,982	$	155,011	$	981,569	$	258,571	$	88,669	$	30,043	$	1,159,169	$	2,743,014
Gross charge-offs	$	572		622		1,310		795		3,437		4,530		5,504	$	16,770

Consumer
Pass	$	89	$	5	$	—	$	107	$	—	$	49	$	913	$	1,163
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total	$	89	$	5	$	—	$	107	$	—	$	49	$	913	$	1,163
Gross charge-offs	$	—		—		—		—		—		—		23	$	23

Total loans
Pass	$	177,418	$	188,933	$	3,172,041	$	1,359,155	$	686,415	$	856,104	$	1,192,957	$	7,633,023
Special mention		690		3,400		11,067		72,476		26,538		14,023		8,112		136,306
Substandard		2,593		12,931		13,259		422		19,091		119,640		4,128		172,064
Total	$	180,701	$	205,264	$	3,196,367	$	1,432,053	$	732,044	$	989,767	$	1,205,197	$	7,941,393
Gross charge-offs	$	572		622		1,310		795		3,437		6,151		5,527	$	18,414

DEPOSITS (Tables)

6 Months Ended

Jun. 30, 2025

DEPOSITS

Summary of Outstanding Balance of Deposits and Average Rates


	June 30, 2025				December 31, 2024
			Weighted				Weighted
(dollars in thousands)	Amount		Average Rate		Amount		Average Rate
Demand deposits:
Noninterest-bearing	$	1,467,203	—		$	1,956,628	—
Interest-bearing		1,672,287	2.99	%		1,995,397	3.29	%
Money market and savings		3,604,909	3.55	%		3,524,801	3.60	%
Certificates of deposit		1,849,294	4.50	%		2,393,453	4.72	%
Total	$	8,593,693	3.04	%	$	9,870,279	3.09	%

Summary of Large Denomination Certificates of Deposit Maturity Distribution


	June 30, 2025		December 31, 2024
Large Denomination Certificates of Deposit Maturity Distribution	(dollars in thousands)

3 months or less	$	65,181	$	76,691
Over 3 months through 6 months		59,578		44,619
Over 6 months through 12 months		76,369		92,960
Over 12 months		541		13,417
Total	$	201,669	$	227,687

SUBORDINATED DEBT (Tables)

6 Months Ended

Jun. 30, 2025

SUBORDINATED DEBT.

Summary of outstanding subordinated notes


		Current		Current			Carrying Value
	Stated	Interest		Principal			June 30,		December 31,
(dollars in thousands)	Maturity	Rate		Balance		2025		2024
Subordinated notes
Subordinated notes due 2032, 3.50% per annum until February 1, 2027, 3-month SOFR + 2.04% thereafter.	February 1, 2032	3.50	%	$	150,000	$	148,418	$	148,298
Subordinated notes due 2030, 6.0% per annum until June 30, 2025, 3-month SOFR + 5.90% thereafter.	June 30, 2030	6.00	%		24,165		25,072		25,161
Total				$	174,165	$	173,490	$	173,459

EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2025

EARNINGS PER SHARE

Summary of computation of basic and diluted earnings per share


	Three Months Ended				Three Months Ended
	June 30, 2025				June 30, 2024
(dollars in thousands, except per share amounts)	Basic		Diluted		Basic		Diluted
Net (loss) income	$	(7,690)	$	(7,690)	$	3,085	$	3,085
Weighted average basic common shares outstanding		82,386,071		82,386,071		56,523,640		56,523,640
Dilutive effect of options, restricted stock, warrants, and contingent shares issuable				—				8,825
Diluted common shares outstanding				82,386,071				56,532,465
Net (loss) income per share	$	(0.09)	$	(0.09)	$	0.05	$	0.05


	Six Months Ended				Six Months Ended
	June 30, 2025				June 30, 2024
(dollars in thousands, except share and per share amounts)	Basic		Diluted		Basic		Diluted
Net (loss) income	$	(794)	$	(794)	$	3,878	$	3,878
Weighted average basic common shares outstanding		82,379,878		82,379,878		56,504,148		56,504,148
Dilutive effect of options, restricted stock, warrants, and contingent shares issuable				—				11,696
Diluted common shares outstanding				82,379,878				56,515,844
Net (loss) income per share	$	(0.01)	$	(0.01)	$	0.07	$	0.07

SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2025

SEGMENT REPORTING

Summary of key operating results of business segments


			Wealth
(dollars in thousands)	Banking		Management		Other		Total
Three Months Ended June 30, 2025:
Interest income	$	137,125	$	—	$	—	$	137,125
Interest expense		85,338		—		1,705		87,043
Net interest income		51,787		—		(1,705)		50,082
Provision for credit losses		2,366		—		—		2,366
Noninterest income		(5,384)		7,077		(355)		1,338
Noninterest expense
Compensation and benefits		17,517		5,124		249		22,890
Customer service costs		12,983		—		—		12,983
Professional services and marketing costs		5,844		928		466		7,238
Other		15,446		654		713		16,813
(Loss) income before income taxes		(7,753)		371		(3,488)		(10,870)
Income tax (benefit) expense		(2,336)		107		(951)		(3,180)
Net (loss) income	$	(5,417)	$	264	$	(2,537)	$	(7,690)

Three Months Ended June 30, 2024:
Interest income	$	150,914	$	—	$	—	$	150,914
Interest expense		105,380		—		1,705		107,085
Net interest income		45,534		—		(1,705)		43,829
Provision (reversal) for credit losses		(806)		—		—		(806)
Noninterest income		6,241		7,790		(373)		13,658
Noninterest expense
Compensation and benefits		14,821		4,079		195		19,095
Customer service costs		16,104		—		—		16,104
Professional services and marketing costs		2,656		926		85		3,667
Other		15,720		679		364		16,763
Income (loss) before income taxes		3,280		2,106		(2,722)		2,664
Income tax (benefit) expense		(255)		594		(760)		(421)
Net income (loss)	$	3,535	$	1,512	$	(1,962)	$	3,085


			Wealth
(dollars in thousands)	Banking		Management		Other		Total
Six Months Ended June 30, 2025:
Interest income	$	278,867	$	—	$	—	$	278,867
Interest expense		173,591		—		3,395		176,986
Net interest income		105,276		—		(3,395)		101,881
Provision for credit losses		5,783		—		—		5,783
Noninterest income		7,026		14,626		(712)		20,940
Noninterest expense
Compensation and benefits		38,343		10,846		(1,191)		47,998
Customer service costs		28,034		—		—		28,034
Professional services and marketing costs		10,339		2,037		769		13,145
Other		30,200		1,278		990		32,468
(Loss) income before income taxes		(397)		465		(4,675)		(4,607)
Income tax expense (benefit)		(2,709)		146		(1,250)		(3,813)
Net income (loss)	$	2,312	$	319	$	(3,425)	$	(794)

Six Months Ended June 30, 2024:
Interest income	$	301,367	$	—	$	—	$	301,367
Interest expense		215,742		—		3,410		219,152
Net interest income		85,625		—		(3,410)		82,215
Provision (reversal) for credit losses		(229)		—		—		(229)
Noninterest income		11,924		15,139		(722)		26,341
Noninterest expense
Compensation and benefits		29,993		8,174		335		38,502
Customer service costs		26,842		—		—		26,842
Professional services and marketing costs		5,188		1,827		42		7,057
Other		31,818		1,359		660		33,837
Income (loss) before income taxes		3,937		3,779		(5,169)		2,547
Income tax (benefit) expense		(966)		1,081		(1,446)		(1,331)
Net income (loss)	$	4,903	$	2,698	$	(3,723)	$	3,878

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jun. 30, 2025 subsidiary
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of inactive wholly owned subsidiaries	2

FAIR VALUE MEASUREMENTS - Recorded Amounts of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	$ 1,469,122	$ 1,313,885
Derivative assets		5,086
Derivative liabilities	8,689
Agency mortgage-backed securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	1,089,071	1,121,626
Municipal bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	46,209	45,535
SBA securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	7,889	9,145
Beneficial interests in FHLMC securitization
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	841	1,242
Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	119,701	125,817
U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	992	678
Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investments, Fair Value Disclosure	1,469,122	1,313,885
Derivative assets		5,086
Derivative liabilities	8,689
Fair Value on Recurring Basis \| Collateralized mortgage obligations
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	204,419	9,842
Fair Value on Recurring Basis \| Agency mortgage-backed securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	1,089,071	1,121,626
Fair Value on Recurring Basis \| Municipal bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	46,209	45,535
Fair Value on Recurring Basis \| SBA securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	7,889	9,145
Fair Value on Recurring Basis \| Beneficial interests in FHLMC securitization
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	841	1,242
Fair Value on Recurring Basis \| Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	119,701	125,817
Fair Value on Recurring Basis \| U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	992	678
Fair Value Measurement Level 1 \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investments, Fair Value Disclosure	992	14,778
Fair Value Measurement Level 1 \| Fair Value on Recurring Basis \| Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale		14,100
Fair Value Measurement Level 1 \| Fair Value on Recurring Basis \| U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	992	678
Fair Value Measurement Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Derivative assets		5,086
Derivative liabilities	8,689
Fair Value Measurement Level 2 \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investments, Fair Value Disclosure	1,467,289	1,297,865
Derivative assets		5,086
Derivative liabilities	8,689
Fair Value Measurement Level 2 \| Fair Value on Recurring Basis \| Collateralized mortgage obligations
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	204,419	9,842
Fair Value Measurement Level 2 \| Fair Value on Recurring Basis \| Agency mortgage-backed securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	1,089,071	1,121,626
Fair Value Measurement Level 2 \| Fair Value on Recurring Basis \| Municipal bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	46,209	45,535
Fair Value Measurement Level 2 \| Fair Value on Recurring Basis \| SBA securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	7,889	9,145
Fair Value Measurement Level 2 \| Fair Value on Recurring Basis \| Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	119,701	111,717
Fair Value Measurement Level 3 \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investments, Fair Value Disclosure	841	1,242
Fair Value Measurement Level 3 \| Fair Value on Recurring Basis \| Beneficial interests in FHLMC securitization
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Investment securities available-for-sale	$ 841	$ 1,242

FAIR VALUE MEASUREMENTS - Valuation Assumptions (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2025 USD ($) loan	Mar. 31, 2025 USD ($)	Dec. 31, 2024 USD ($) loan	Sep. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Real estate owned ("REO")		$ 6,210		$ 6,210
Amortized cost		7,548,323		7,941,393
Gain on sale of REO	$ 679
Loans held for sale, carrying value		476,727		1,285,819
Loans held for sale, fair value		476,727		1,285,819
Reserves related to impaired loans	$ 29,295	37,560	$ 35,200	32,302		$ 29,295	$ 29,205
Mortgage servicing rights, valuation allowance		0		0	$ 0
Substandard
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Amortized cost		202,651		172,064
Collateral Dependent Loans
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Amortized cost		26,184		27,090
Reserves related to impaired loans		509		697
Fair Value Measurement Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loans held for sale, fair value		$ 476,727		$ 1,285,819
Percentage of principal balance loans held for sale		89.80%		97.40%
Fair Value Measurement Level 3 \| Substandard
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Percentage of principal balance loans held for sale		10.20%		2.60%
Number of loans held for sale \| loan		20		17
Fair Value Measurement Level 3 \| Collateral Dependent Loans
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Amortized cost		$ 26,200		$ 27,000
Fair Value Measurement Level 3 \| Prepayment Rate \| Financing Receivable With Fixed Interest Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loan, held-for-sale, measurement input		0.05		0.05
Fair Value Measurement Level 3 \| Prepayment Rate \| Financing Receivable With Floating Interest Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loan, held-for-sale, measurement input		0.20		0.15
Fair Value Measurement Level 3 \| Prepayment Rate \| Beneficial interests in FHLMC securitization
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Alternative investment measurement input		0.20		0.20
Fair Value Measurement Level 3 \| Prepayment Rate \| Minimum \| Mortgage Servicing Rights.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Alternative investment measurement input		0.20
Fair Value Measurement Level 3 \| Prepayment Rate \| Maximum \| Mortgage Servicing Rights.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Alternative investment measurement input		0.30
Fair Value Measurement Level 3 \| Discount Rate \| Mortgage Servicing Rights.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Alternative investment measurement input		0.10
Fair Value Measurement Level 3 \| Discount Rate \| Beneficial interests in FHLMC securitization
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Alternative investment measurement input		0.0625		0.0687
Fair Value Measurement Level 3 \| Discount Rate \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loan, held-for-sale, measurement input		0.025		0.021
Fair Value Measurement Level 3 \| Discount Rate \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loan, held-for-sale, measurement input		0.0585		0.0625
Fair Value Measurement Level 3 \| Expected loss assumption rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loan, held-for-sale, measurement input		0.0005		0.0005

FAIR VALUE MEASUREMENTS - Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2025	Jan. 29, 2025	Feb. 01, 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liabilities	$ 8,689
Multifamily
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Principal balance, loan held for sale	858,000
Interest Rate Swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notional amount, Asset	375,000		$ 450,000
Notional amount in conjunction	625,000
Derivative Liabilities	5,800
Fair Value Measurement Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liabilities	8,689
Fair Value Measurement Level 2 \| Cash Flow Hedge
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liabilities	2,900
Fair Value Measurement Level 2 \| Interest Rate Swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notional amount, Asset	375,000	$ 1,000,000
Notional amount in conjunction	625,000
Derivative Liabilities	$ 5,800

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-7A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
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+ Details

FAIR VALUE MEASUREMENTS - Carrying Amounts and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Assets:
Cash and cash equivalents	$ 1,055,614	$ 1,016,132
Securities AFS, net	1,469,122	1,313,885
Securities HTM	663,807	712,105
Loans held for sale	476,727	1,285,819
Loans held for investment, net	7,510,763	7,909,091
Investment in equity securities	11,799	11,798
Accrued interest receivable	50,538	54,804
Derivative assets		5,086
Liabilities:
Deposits	8,593,693	9,870,279
Borrowings	1,669,315	1,425,369
Subordinated debt	173,490	173,459
Derivative liabilities	8,689
Accrued interest payable	18,273	27,701
Assets Fair Value:
Cash and cash equivalents	1,055,614	1,016,132
Securities AFS, net	1,469,122	1,313,885
Securities HTM	604,367	636,840
Loans held for sale	476,727	1,285,819
Loans held for investment, net	7,379,679	7,612,588
Investment in equity securities	11,799	11,798
Accrued interest receivable	50,538	54,804
Liabilities Fair Value:
Deposits	8,601,170	9,866,722
Borrowings	1,696,461	1,430,337
Subordinated debt	156,564	142,631
Accrued interest payable	18,273	27,701
Derivative liabilities	8,689
Fair Value Measurement Level 1
Assets Fair Value:
Cash and cash equivalents	1,055,614	1,016,132
Securities AFS, net	992	14,778
Accrued interest receivable	50,538	54,804
Liabilities Fair Value:
Deposits	6,744,399	7,476,826
Accrued interest payable	18,273	27,701
Fair Value Measurement Level 2
Assets:
Derivative assets		5,086
Liabilities:
Derivative liabilities	8,689
Assets Fair Value:
Securities AFS, net	1,467,289	1,297,865
Securities HTM	604,367	636,840
Loans held for investment, net	44,196	16,663
Liabilities Fair Value:
Deposits	1,856,771	2,389,896
Borrowings	1,696,461	1,430,337
Derivative liabilities	8,689
Fair Value Measurement Level 3
Assets:
Investment in equity securities	11,799	11,798
Assets Fair Value:
Securities AFS, net	841	1,242
Loans held for sale	476,727	1,285,819
Loans held for investment, net	7,335,483	7,595,925
Investment in equity securities	11,799	11,798
Liabilities Fair Value:
Subordinated debt	$ 156,564	$ 142,631

SECURITIES - Summary of AFS Securities Portfolio (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities
Amortized Cost	$ 1,485,810		$ 1,335,225
Gross Unrealized Gains	253		2,310
Gross Unrealized Losses	(16,290)		(19,516)
Allowance for Credit Losses	(651)	$ (4,027)	(4,134)	$ (7,342)	$ (7,911)	$ (8,220)
Estimated Fair Value	1,469,122		1,313,885
Agency mortgage-backed securities
Schedule Of Available For Sale Securities
Amortized Cost	1,093,563		1,126,861
Gross Unrealized Gains	243		2,308
Gross Unrealized Losses	(4,735)		(7,543)
Estimated Fair Value	1,089,071		1,121,626
Municipal bonds
Schedule Of Available For Sale Securities
Amortized Cost	48,749		48,921
Gross Unrealized Losses	(2,540)		(3,386)
Estimated Fair Value	46,209		45,535
SBA securities
Schedule Of Available For Sale Securities
Amortized Cost	7,945		9,236
Gross Unrealized Gains	4		2
Gross Unrealized Losses	(60)		(93)
Estimated Fair Value	7,889		9,145
Beneficial interests in FHLMC securitization
Schedule Of Available For Sale Securities
Amortized Cost	841		4,619
Allowance for Credit Losses		(3,361)	(3,377)	(6,502)	(6,593)	(6,818)
Estimated Fair Value	841		1,242
Corporate bonds
Schedule Of Available For Sale Securities
Amortized Cost	127,732		133,767
Gross Unrealized Losses	(7,380)		(7,193)
Allowance for Credit Losses	(651)	$ (666)	(757)	$ (840)	$ (1,318)	$ (1,402)
Estimated Fair Value	119,701		125,817
U.S. Treasury
Schedule Of Available For Sale Securities
Amortized Cost	999		700
Gross Unrealized Gains	6
Gross Unrealized Losses	(13)		(22)
Estimated Fair Value	992		678
Collateralized mortgage obligations
Schedule Of Available For Sale Securities
Amortized Cost	205,981		11,121
Gross Unrealized Losses	(1,562)		(1,279)
Estimated Fair Value	$ 204,419		$ 9,842

SECURITIES - Summary of HTM Securities Portfolio (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Schedule of Held-to-maturity Securities
Amortized Cost	$ 663,807	$ 712,105
Gross Unrealized Loss	(59,440)	(75,265)
Estimated Fair Value	604,367	636,840
Agency mortgage-backed securities
Schedule of Held-to-maturity Securities
Amortized Cost	663,807	712,105
Gross Unrealized Loss	(59,440)	(75,265)
Estimated Fair Value	$ 604,367	$ 636,840

- Definition

Fair value of investment in debt security measured at amortized cost (held-to-maturity).

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

SECURITIES - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
SECURITIES - Additional Information (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities
Investment securities available-for-sale	$ 1,469,122,000		$ 1,469,122,000			$ 1,313,885,000
Securities available-for-sale			466,000,000	$ 747,800,000
Debt securities, available-for-sale, realized gain			4,700,000	1,400,000
Debt securities, available-for-sale, realized loss				200,000
Provision (reversal) for credit losses - securities AFS	(15,000)	$ (569,000)	(122,000)	(878,000)
Charge-offs related to interest -only strip securities	3,400,000	0		0
Allowance for credit losses	651,000	7,342,000	651,000	7,342,000	$ 4,027,000	4,134,000	$ 7,911,000	$ 8,220,000
Federal funds purchased \| Asset pledged as collateral
Schedule Of Available For Sale Securities
Investment securities available-for-sale	1,100,000,000		1,100,000,000			916,800,000
Repurchase agreements \| Asset pledged as collateral
Schedule Of Available For Sale Securities
Investment securities available-for-sale	73,600,000		73,600,000			77,300,000
Agency mortgage-backed securities
Schedule Of Available For Sale Securities
Investment securities available-for-sale	1,089,071,000		1,089,071,000			1,121,626,000
Agency mortgage-backed securities \| Asset pledged as collateral
Schedule Of Available For Sale Securities
Investment securities available-for-sale	259,000,000		259,000,000			256,500,000
Agency mortgage-backed securities \| Federal funds purchased \| Asset pledged as collateral
Schedule Of Available For Sale Securities
Investment securities available-for-sale	392,000,000		392,000,000			325,700,000
Agency mortgage-backed securities \| Noninvestment Grade
Schedule Of Available For Sale Securities
Investment securities available-for-sale	841,000		841,000
U.S. Treasury
Schedule Of Available For Sale Securities
Investment securities available-for-sale	992,000		992,000			678,000
U.S. Treasury \| Asset pledged as collateral
Schedule Of Available For Sale Securities
Investment securities available-for-sale	1,900,000		1,900,000			1,300,000
Corporate bonds
Schedule Of Available For Sale Securities
Investment securities available-for-sale	119,701,000		119,701,000			125,817,000
Provision (reversal) for credit losses - securities AFS	(15,000)	(478,000)	$ (106,000)	(562,000)
Number of financial instruments impacted by credit loss			14
Allowance for credit losses	651,000	$ 840,000	$ 651,000	$ 840,000	$ 666,000	$ 757,000	$ 1,318,000	$ 1,402,000
Corporate bonds \| Noninvestment Grade
Schedule Of Available For Sale Securities
Investment securities available-for-sale	$ 32,000,000		$ 32,000,000

SECURITIES - Schedule of AFS Securities in a Continuous Unrealized Loss Position Aggregated by Investment Category and Length of Time (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Schedule Of Available For Sale Securities
Less than 12 months, Fair Value	$ 1,215,182	$ 739,188
Less than 12 months, Unrealized Loss	(5,067)	(8,129)
12 months or more, Fair Value	163,675	175,403
12 months or more, Unrealized Loss	(11,223)	(11,387)
Total, Fair Value	1,378,857	914,591
Total, Unrealized Loss	(16,290)	(19,516)
Agency mortgage-backed securities
Schedule Of Available For Sale Securities
Less than 12 months, Fair Value	996,966	719,329
Less than 12 months, Unrealized Loss	(4,476)	(7,218)
12 months or more, Fair Value	3,803	4,280
12 months or more, Unrealized Loss	(259)	(325)
Total, Fair Value	1,000,769	723,609
Total, Unrealized Loss	(4,735)	(7,543)
Municipal bonds
Schedule Of Available For Sale Securities
Less than 12 months, Fair Value	492	2,129
Less than 12 months, Unrealized Loss	(8)	(101)
12 months or more, Fair Value	45,488	43,405
12 months or more, Unrealized Loss	(2,532)	(3,285)
Total, Fair Value	45,980	45,534
Total, Unrealized Loss	(2,540)	(3,386)
SBA securities
Schedule Of Available For Sale Securities
Less than 12 months, Fair Value	204	614
Less than 12 months, Unrealized Loss		(1)
12 months or more, Fair Value	6,646	7,739
12 months or more, Unrealized Loss	(60)	(92)
Total, Fair Value	6,850	8,353
Total, Unrealized Loss	(60)	(93)
Corporate bonds
Schedule Of Available For Sale Securities
Less than 12 months, Fair Value	19,876	14,242
Less than 12 months, Unrealized Loss	(124)	(758)
12 months or more, Fair Value	100,476	112,333
12 months or more, Unrealized Loss	(7,256)	(6,435)
Total, Fair Value	120,352	126,575
Total, Unrealized Loss	(7,380)	(7,193)
U.S. Treasury
Schedule Of Available For Sale Securities
12 months or more, Fair Value	487	678
12 months or more, Unrealized Loss	(13)	(22)
Total, Fair Value	487	678
Total, Unrealized Loss	(13)	(22)
Collateralized mortgage obligations
Schedule Of Available For Sale Securities
Less than 12 months, Fair Value	197,644	2,874
Less than 12 months, Unrealized Loss	(459)	(51)
12 months or more, Fair Value	6,775	6,968
12 months or more, Unrealized Loss	(1,103)	(1,228)
Total, Fair Value	204,419	9,842
Total, Unrealized Loss	$ (1,562)	$ (1,279)

SECURITIES - Schedule of HTM Securities in a Continuous Unrealized Loss Position Aggregated by Investment Category and Length of Time (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Schedule of Held-to-maturity Securities
Less than 12 months, Fair Value		$ 15,440
Less than 12 months, Unrecognized Loss		(61)
12 months or more, Fair Value	$ 604,367	621,400
12 months or more, Unrecognized Loss	(59,440)	(75,204)
Total, Fair Value	604,367	636,840
Total, Unrecognized Loss	(59,440)	(75,265)
Agency mortgage-backed securities
Schedule of Held-to-maturity Securities
Less than 12 months, Fair Value		15,440
Less than 12 months, Unrecognized Loss		(61)
12 months or more, Fair Value	604,367	621,400
12 months or more, Unrecognized Loss	(59,440)	(75,204)
Total, Fair Value	604,367	636,840
Total, Unrecognized Loss	$ (59,440)	$ (75,265)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 5A
-Subparagraph (c)
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

+ Details

SECURITIES - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Schedule Of Available For Sale Securities
Beginning Balance for period	$ 4,027	$ 7,911	$ 4,134	$ 8,220
Provision (Reversal) for Credit Losses	(15)	(569)	(122)	(878)
Charge-offs	(3,361)		(3,361)
Ending Balance for period	651	7,342	651	7,342
Beneficial interests in FHLMC securitization
Schedule Of Available For Sale Securities
Beginning Balance for period	3,361	6,593	3,377	6,818
Provision (Reversal) for Credit Losses		(91)	(16)	(316)
Charge-offs	(3,361)		(3,361)
Ending Balance for period		6,502		6,502
Corporate bonds
Schedule Of Available For Sale Securities
Beginning Balance for period	666	1,318	757	1,402
Provision (Reversal) for Credit Losses	(15)	(478)	(106)	(562)
Ending Balance for period	$ 651	$ 840	$ 651	$ 840

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

SECURITIES - Scheduled Maturities of Securities AFS and the Related Weighted Average Yields (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Schedule Of Available For Sale Securities
Amortized cost, 1 Year or Less	$ 6,109	$ 2,842
Amortized cost, More than 1 Year through 5 Years	83,087	85,640
Amortized cost, More than 5 Years through 10 Years	86,261	96,042
Amortized cost, More than 10 Years	1,310,353	1,150,701
Amortized cost, total	$ 1,485,810	$ 1,335,225
Weighted average yield, 1 Year or Less	2.67%	1.99%
Weighted average yield, More than 1 Year through 5 Years	5.53%	5.83%
Weighted average yield, More than 5 Years through 10 Years	3.10%	3.01%
Weighted average yield, More than 10 Years	5.34%	5.50%
Weighted average yield, total	5.21%	5.34%
Estimated fair value, 1 Year or Less	$ 6,021	$ 2,820
Estimated fair value, More than 1 Year through 5 Years	80,831	83,089
Estimated fair value, More than 5 Years through 10 Years	79,955	89,492
Estimated fair value, More than 10 Years	1,302,966	1,142,618
Estimated fair value, total	1,469,773	1,318,019
Agency mortgage-backed securities
Schedule Of Available For Sale Securities
Amortized cost, 1 Year or Less		48
Amortized cost, More than 1 Year through 5 Years	2,525	2,992
Amortized cost, More than 10 Years	1,091,038	1,123,821
Amortized cost, total	1,093,563	1,126,861
Estimated fair value, 1 Year or Less		47
Estimated fair value, More than 1 Year through 5 Years	2,463	2,882
Estimated fair value, More than 10 Years	1,086,608	1,118,697
Estimated fair value, total	1,089,071	1,121,626
Municipal bonds
Schedule Of Available For Sale Securities
Amortized cost, 1 Year or Less	2,604	2,594
Amortized cost, More than 1 Year through 5 Years	20,552	14,874
Amortized cost, More than 5 Years through 10 Years	24,497	29,218
Amortized cost, More than 10 Years	1,096	2,235
Amortized cost, total	48,749	48,921
Estimated fair value, 1 Year or Less	2,602	2,573
Estimated fair value, More than 1 Year through 5 Years	19,881	14,120
Estimated fair value, More than 5 Years through 10 Years	22,872	27,065
Estimated fair value, More than 10 Years	854	1,777
Estimated fair value, total	46,209	45,535
SBA securities
Schedule Of Available For Sale Securities
Amortized cost, More than 1 Year through 5 Years	485	418
Amortized cost, More than 5 Years through 10 Years	111	388
Amortized cost, More than 10 Years	7,349	8,430
Amortized cost, total	7,945	9,236
Estimated fair value, More than 1 Year through 5 Years	484	416
Estimated fair value, More than 5 Years through 10 Years	111	388
Estimated fair value, More than 10 Years	7,294	8,341
Estimated fair value, total	7,889	9,145
Beneficial interests in FHLMC securitization
Schedule Of Available For Sale Securities
Amortized cost, More than 1 Year through 5 Years	841	4,619
Amortized cost, total	841	4,619
Estimated fair value, More than 1 Year through 5 Years	841	4,619
Estimated fair value, total	841	4,619
Corporate bonds
Schedule Of Available For Sale Securities
Amortized cost, 1 Year or Less	3,005
Amortized cost, More than 1 Year through 5 Years	57,969	61,961
Amortized cost, More than 5 Years through 10 Years	61,236	66,282
Amortized cost, More than 10 Years	5,522	5,524
Amortized cost, total	127,732	133,767
Estimated fair value, 1 Year or Less	2,932
Estimated fair value, More than 1 Year through 5 Years	56,452	60,318
Estimated fair value, More than 5 Years through 10 Years	56,578	61,889
Estimated fair value, More than 10 Years	4,390	4,367
Estimated fair value, total	120,352	126,574
U.S. Treasury
Schedule Of Available For Sale Securities
Amortized cost, 1 Year or Less	500	200
Amortized cost, More than 1 Year through 5 Years	499	500
Amortized cost, total	999	700
Estimated fair value, 1 Year or Less	487	200
Estimated fair value, More than 1 Year through 5 Years	505	478
Estimated fair value, total	992	678
Collateralized mortgage obligations
Schedule Of Available For Sale Securities
Amortized cost, More than 1 Year through 5 Years	216	276
Amortized cost, More than 5 Years through 10 Years	417	154
Amortized cost, More than 10 Years	205,348	10,691
Amortized cost, total	205,981	11,121
Estimated fair value, More than 1 Year through 5 Years	205	256
Estimated fair value, More than 5 Years through 10 Years	394	150
Estimated fair value, More than 10 Years	203,820	9,436
Estimated fair value, total	$ 204,419	$ 9,842

SECURITIES - Scheduled Maturities of Securities HTM and the Related Weighted Average Yields (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
HTM - Amortized Cost
Amortized cost, More than 1 Year through 5 Years	$ 5,752	$ 4,542
Amortized cost, More than 5 Years through 10 Years	9,027	8,900
Amortized cost, More than 10 Years	649,028	698,663
Amortized cost, total	$ 663,807	$ 712,105
HTM - Weighted average yield
Weighted average yield, More than 1 Year through 5 Years	1.08%	0.99%
Weighted average yield, More than 5 Years through 10 Years	1.77%	1.58%
Weighted average yield, More than 10 Years	2.22%	2.24%
Weighted average yield, total	2.21%	2.22%
HTM - Estimated Fair Value
Estimated fair value, More than 1 Year through 5 Years	$ 5,476	$ 4,287
Estimated fair value, More than 5 Years through 10 Years	8,329	8,128
Estimated fair value, More than 10 Years	590,562	624,425
Estimated fair value, total	604,367	636,840
Agency mortgage-backed securities
HTM - Amortized Cost
Amortized cost, More than 1 Year through 5 Years	5,752	4,542
Amortized cost, More than 5 Years through 10 Years	9,027	8,900
Amortized cost, More than 10 Years	649,028	698,663
Amortized cost, total	663,807	712,105
HTM - Estimated Fair Value
Estimated fair value, More than 1 Year through 5 Years	5,476	4,287
Estimated fair value, More than 5 Years through 10 Years	8,329	8,128
Estimated fair value, More than 10 Years	590,562	624,425
Estimated fair value, total	$ 604,367	$ 636,840

LOANS - Summary of Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
LOANS - Summary of Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Loans
Total loans	$ 7,542,865		$ 7,542,865		$ 7,936,215
Premiums, discounts and deferred fees and expenses	5,458		5,458		5,178
Total loans	7,548,323		7,548,323		7,941,393
Loans held for sale ("LHFS")	476,727		476,727		1,285,819
Securities pledged as collateral	73,600		73,600		77,300
Unpaid principal balance of loans sold			858,000	$ 8,100
Loss (gain) on sale of loans	10,405	$ (415)	10,405	$ (678)
Asset pledged as collateral \| Federal Reserve Bank advances \| Loan Origination Commitments
Loans
Securities pledged as collateral	170,600		170,600		176,000
Asset pledged as collateral \| Federal Home Loan Bank Advances \| Loan Origination Commitments
Loans
Securities pledged as collateral	3,100,000		3,100,000		4,100,000
Multifamily
Loans
Total loans	3,293,911		3,293,911		3,347,445
Loans held for sale ("LHFS")	500,000		500,000		1,300,000
Single family
Loans
Total loans	825,840		825,840		876,956
Commercial properties
Loans
Total loans	818,342		818,342		903,681
Land and construction
Loans
Total loans	43,317		43,317		69,134
Commercial and industrial loans
Loans
Total loans	2,568,621		2,568,621		2,746,351
Total loans	2,565,364		2,565,364		2,743,014
Consumer loans
Loans
Total loans	1,544		1,544		1,137
Total loans	1,549		1,549		1,163
Real estate loans
Loans
Total loans	4,972,700		4,972,700		5,188,727
Real estate loans \| Residential properties
Loans
Total loans	4,110,601		4,110,601		4,215,314
Total loans	4,119,751		4,119,751		4,224,401
Real estate loans \| Multifamily
Loans
Total loans	3,288,093		3,288,093		3,341,823
Real estate loans \| Single family
Loans
Total loans	822,508		822,508		873,491
Real estate loans \| Commercial properties
Loans
Total loans	818,738		818,738		904,167
Total loans	818,342		818,342		903,681
Real estate loans \| Land and construction
Loans
Total loans	43,361		43,361		69,246
Total loans	$ 43,317		$ 43,317		$ 69,134

LOANS - Summary of Delinquent and Nonaccrual Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Loans
Nonaccrual	$ 34,627	$ 40,444
Total	$ 7,548,323	$ 7,941,393
Percentage of Total Loans Due Nonaccrual	0.46%	0.51%
Financial Asset, Past Due
Loans
Total	$ 49,825	$ 70,413
Percentage of Total Loans	0.66%	0.89%
30-59 Days
Loans
Total	$ 14,675	$ 16,024
Percentage of Total Loans Due 30-59 Days	0.19%	0.20%
60-89 Days
Loans
Total	$ 168	$ 1,045
Percentage of Total Loans Due 60-89 Days	0.00%	0.01%
90 Days or More
Loans
Total	$ 355	$ 12,900
Percentage of Total Loans Due 90 Days or More	0.00%	0.16%
Financial Asset, Not Past Due
Loans
Total	$ 7,498,498	$ 7,870,980
Commercial properties
Loans
Total	818,342	903,681
Land and construction
Loans
Total	43,317	69,134
Commercial and industrial loans
Loans
Nonaccrual	9,842	9,174
Total	2,565,364	2,743,014
Commercial and industrial loans \| Financial Asset, Past Due
Loans
Total	10,647	10,788
Commercial and industrial loans \| 30-59 Days
Loans
Total	637	997
Commercial and industrial loans \| 60-89 Days
Loans
Total	168	617
Commercial and industrial loans \| Financial Asset, Not Past Due
Loans
Total	2,554,717	2,732,226
Consumer loans
Loans
Total	1,549	1,163
Consumer loans \| Financial Asset, Not Past Due
Loans
Total	1,549	1,163
Real estate loans \| Residential loans
Loans
Nonaccrual	18,779	23,324
Total	4,119,751	4,224,401
Real estate loans \| Residential loans \| Financial Asset, Past Due
Loans
Total	29,637	30,407
Real estate loans \| Residential loans \| 30-59 Days
Loans
Total	10,858	7,083
Real estate loans \| Residential loans \| Financial Asset, Not Past Due
Loans
Total	4,090,114	4,193,994
Real estate loans \| Commercial properties
Loans
Nonaccrual	6,006	7,946
Total	818,342	903,681
Real estate loans \| Commercial properties \| Financial Asset, Past Due
Loans
Total	9,541	29,218
Real estate loans \| Commercial properties \| 30-59 Days
Loans
Total	3,180	7,944
Real estate loans \| Commercial properties \| 60-89 Days
Loans
Total		428
Real estate loans \| Commercial properties \| 90 Days or More
Loans
Total	355	12,900
Real estate loans \| Commercial properties \| Financial Asset, Not Past Due
Loans
Total	808,801	874,463
Real estate loans \| Land and construction
Loans
Total	43,317	69,134
Real estate loans \| Land and construction \| Financial Asset, Not Past Due
Loans
Total	$ 43,317	$ 69,134

LOANS - Summary of Nonaccrual Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Loans
Nonaccrual with Allowance for Credit Losses	$ 11,782	$ 14,043
Nonaccrual with no Allowance for Credit Losses	22,845	26,401
Commercial and industrial loans
Loans
Nonaccrual with Allowance for Credit Losses	9,834	9,174
Nonaccrual with no Allowance for Credit Losses	8
Real estate loans \| Residential loans
Loans
Nonaccrual with Allowance for Credit Losses	1,363	1,420
Nonaccrual with no Allowance for Credit Losses	17,416	21,904
Real estate loans \| Commercial properties
Loans
Nonaccrual with Allowance for Credit Losses	585	3,449
Nonaccrual with no Allowance for Credit Losses	$ 5,421	$ 4,497

LOANS - Summary of Loan Modifications (Details)	6 Months Ended
LOANS - Summary of Loan Modifications (Details)	Jun. 30, 2025 USD ($) loan	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) loan
Financing Receivable Modifications
Amortized Cost Basis	$ 5,417,000	$ 21,352,000	$ 21,352,000	$ 21,352,000	$ 21,352,000
Number of loans modified \| loan	3
Amortized Cost Basis with Payment Default	$ 220,000
Loan modifications made during the previous twelve-month period	10,803,000	35,452,000	35,452,000	35,452,000	35,452,000
Loans modified			0
Financial Asset, Not Past Due
Financing Receivable Modifications
Loan modifications made during the previous twelve-month period	2,108,000	27,397,000	27,397,000	27,397,000	27,397,000
Nonaccrual
Financing Receivable Modifications
Loan modifications made during the previous twelve-month period	8,695,000	8,055,000	8,055,000	8,055,000	8,055,000
Term Extension
Financing Receivable Modifications
Amortized Cost Basis	$ 5,126,000	14,169,000	14,169,000	14,169,000	14,169,000
Number of loans modified \| loan	2
Amortized Cost Basis with Payment Default	$ 66,000
Combination of Payment Deferral and Extended Maturity
Financing Receivable Modifications
Amortized Cost Basis	$ 291,000	7,183,000	7,183,000	7,183,000	7,183,000
Number of loans modified \| loan	1
Amortized Cost Basis with Payment Default	$ 154,000
Residential loans \| Real estate loans
Financing Receivable Modifications
Amortized Cost Basis	$ 36,000
% of Total Class of Loans	0.001%
Loan modifications made during the previous twelve-month period	$ 39,000	247,000	247,000	247,000	247,000
Residential loans \| Real estate loans \| Financial Asset, Not Past Due
Financing Receivable Modifications
Loan modifications made during the previous twelve-month period	39,000	247,000	247,000	247,000	247,000
Residential loans \| Real estate loans \| Term Extension
Financing Receivable Modifications
Amortized Cost Basis	$ 36,000
% of Total Class of Loans	0.001%
Residential loans \| Real estate loans \| Payment Deferral
Financing Receivable Modifications
Number of loans modified \| loan	1
Extended Term	4 months
Commercial properties \| Real estate loans
Financing Receivable Modifications
Amortized Cost Basis	$ 411,000	12,900,000	12,900,000	$ 12,900,000	12,900,000
% of Total Class of Loans	0.05%			1.30%
Loan modifications made during the previous twelve-month period	$ 411,000	13,515,000	13,515,000	$ 13,515,000	13,515,000
Commercial properties \| Real estate loans \| Financial Asset, Not Past Due
Financing Receivable Modifications
Loan modifications made during the previous twelve-month period		13,515,000	13,515,000	13,515,000	13,515,000
Commercial properties \| Real estate loans \| Nonaccrual
Financing Receivable Modifications
Loan modifications made during the previous twelve-month period	411,000
Commercial properties \| Real estate loans \| Term Extension
Financing Receivable Modifications
Amortized Cost Basis	$ 411,000	$ 12,900,000	12,900,000	$ 12,900,000	$ 12,900,000
% of Total Class of Loans	0.05%			1.30%
Number of loans modified \| loan					1
Payment Deferral Term		10 months
Commercial properties \| Real estate loans \| Extended Maturity Six Months [Member]
Financing Receivable Modifications
Number of loans modified \| loan	1
Payment Deferral Term	6 months
Commercial and industrial loans
Financing Receivable Modifications
Amortized Cost Basis	$ 4,970,000	$ 8,452,000	8,452,000	$ 8,452,000	$ 8,452,000
% of Total Class of Loans	0.19%			0.05%
Number of loans modified \| loan	3
Amortized Cost Basis with Payment Default	$ 220,000
Loan modifications made during the previous twelve-month period	10,353,000	21,690,000	21,690,000	$ 21,690,000	21,690,000
Commercial and industrial loans \| Financial Asset, Not Past Due
Financing Receivable Modifications
Loan modifications made during the previous twelve-month period	2,069,000	13,635,000	13,635,000	13,635,000	13,635,000
Commercial and industrial loans \| Nonaccrual
Financing Receivable Modifications
Loan modifications made during the previous twelve-month period	8,284,000	8,055,000	8,055,000	8,055,000	8,055,000
Commercial and industrial loans \| Term Extension
Financing Receivable Modifications
Amortized Cost Basis	$ 4,679,000	$ 1,269,000	1,269,000	$ 1,269,000	$ 1,269,000
% of Total Class of Loans	0.18%			0.04%
Number of loans modified \| loan	2
Amortized Cost Basis with Payment Default	$ 66,000
Commercial and industrial loans \| Extended Maturity Loan One [Member]
Financing Receivable Modifications
Extended Term		5 months
Commercial and industrial loans \| Extended Maturity Loan Two [Member]
Financing Receivable Modifications
Number of loans modified \| loan					1
Extended Term		3 months
Commercial and industrial loans \| Extended Maturity Loan Three [Member]
Financing Receivable Modifications
Number of loans modified \| loan					1
Payment Deferral Term		3 months
Financing receivable, excluding accrued interest, modified, payments			100
Commercial and industrial loans \| Payment Deferral
Financing Receivable Modifications
Number of loans modified \| loan	2
Payment Deferral Term	2 months
Commercial and industrial loans \| Payment Deferral Of Fifty Percentage
Financing Receivable Modifications
Number of loans modified \| loan	1
Payment Deferral Term	151 months
Financing receivable modified, percentage	50.00%
Commercial and industrial loans \| Payment Deferral Of One Hundred Dollars
Financing Receivable Modifications
Number of loans modified \| loan	8
Financing receivable, excluding accrued interest, modified, payments	$ 100
Commercial and industrial loans \| Payment Deferral Of One Hundred Dollars \| Minimum
Financing Receivable Modifications
Payment Deferral Term	2 months
Commercial and industrial loans \| Payment Deferral Of One Hundred Dollars \| Maximum
Financing Receivable Modifications
Payment Deferral Term	3 months
Commercial and industrial loans \| Extended Maturity for One Loan
Financing Receivable Modifications
Number of loans modified				1	4
Payment Deferral Term		3 months
Commercial and industrial loans \| Extended Maturity for One Loan \| Minimum
Financing Receivable Modifications
Payment Deferral Term		3 months
Commercial and industrial loans \| Extended Maturity for One Loan \| Maximum
Financing Receivable Modifications
Payment Deferral Term		62 months 15 days
Commercial and industrial loans \| Combination of Payment Deferral and Extended Maturity
Financing Receivable Modifications
Amortized Cost Basis	$ 291,000	$ 7,183,000	$ 7,183,000	$ 7,183,000	$ 7,183,000
% of Total Class of Loans	0.01%			0.01%
Number of loans modified \| loan	1				4
Amortized Cost Basis with Payment Default	$ 154,000
Commercial and industrial loans \| Combination of Payment Deferral and Extended Maturity \| Minimum
Financing Receivable Modifications
Payment Deferral Term		6 months
Commercial and industrial loans \| Combination of Payment Deferral and Extended Maturity \| Maximum
Financing Receivable Modifications
Payment Deferral Term		19 months
Commercial and industrial loans \| Term extensions and payment deferrals, One
Financing Receivable Modifications
Number of loans modified \| loan	4
Commercial and industrial loans \| Term extensions and payment deferrals, One \| Minimum
Financing Receivable Modifications
Payment Deferral Term	2 months
Commercial and industrial loans \| Term extensions and payment deferrals, One \| Maximum
Financing Receivable Modifications
Payment Deferral Term	3 months
Commercial and industrial loans \| Term extensions and payment deferrals, Two
Financing Receivable Modifications
Number of loans modified \| loan	3
Commercial and industrial loans \| Term extensions and payment deferrals, Two \| Minimum
Financing Receivable Modifications
Payment Deferral Term	12 months
Commercial and industrial loans \| Term extensions and payment deferrals, Two \| Maximum
Financing Receivable Modifications
Payment Deferral Term	52 months

ALLOWANCE FOR CREDIT LOSSES - Bank's Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Financing Receivable Allowance For Credit Losses
Financing receivables collectively evaluated for impairment	$ 7,400,000		$ 7,400,000		$ 7,800,000
Percentage of financing receivables collectively evaluated for impairment	98.10%		98.10%		97.60%
Financing receivables individually evaluated for impairment	$ 121,000		$ 121,000		$ 164,700
Percentage of financing receivables individually evaluated for impairment	1.60%		1.60%		2.10%
Financing Receivable, Allowance for Credit Loss, Beginning Balance	$ 35,200	$ 29,295	$ 32,302	$ 29,205
Provision (Reversal) for Credit Losses	2,495	217	5,585	648
Charge-offs	(492)	(369)	(895)	(862)
Recoveries	357	152	568	304
Financing Receivable, Allowance for Credit Loss, Ending Balance	37,560	29,295	$ 37,560	29,295
Qualitative assessment horizon			2 years
Collateral pledged
Financing Receivable Allowance For Credit Losses
Financing receivables individually evaluated for impairment	$ 26,200		$ 26,200		$ 27,000
Percentage of financing receivables individually evaluated for impairment	0.30%		0.30%		0.30%
Unfunded loan commitment
Financing Receivable Allowance For Credit Losses
Financing Receivable, Allowance for Credit Loss, Beginning Balance			$ 1,300
Financing Receivable, Allowance for Credit Loss, Ending Balance	$ 1,700		1,700
Residential properties
Financing Receivable Allowance For Credit Losses
Financing Receivable, Allowance for Credit Loss, Beginning Balance	6,544	8,374	7,216	9,921
Provision (Reversal) for Credit Losses	236	639	(442)	(908)
Recoveries			6
Financing Receivable, Allowance for Credit Loss, Ending Balance	6,780	9,013	6,780	9,013
Commercial properties
Financing Receivable Allowance For Credit Losses
Financing Receivable, Allowance for Credit Loss, Beginning Balance	5,861	4,597	6,683	4,148
Provision (Reversal) for Credit Losses	529	1,489	(293)	1,938
Financing Receivable, Allowance for Credit Loss, Ending Balance	6,390	6,086	6,390	6,086
Land and construction
Financing Receivable Allowance For Credit Losses
Financing Receivable, Allowance for Credit Loss, Beginning Balance	46	66	61	332
Provision (Reversal) for Credit Losses	47	11	32	(255)
Financing Receivable, Allowance for Credit Loss, Ending Balance	93	77	93	77
Commercial and industrial loans
Financing Receivable Allowance For Credit Losses
Financing Receivable, Allowance for Credit Loss, Beginning Balance	22,739	16,251	18,333	14,796
Provision (Reversal) for Credit Losses	1,680	(1,930)	6,284	(133)
Charge-offs	(492)	(369)	(895)	(862)
Recoveries	357	152	562	303
Financing Receivable, Allowance for Credit Loss, Ending Balance	24,284	14,104	24,284	14,104
Consumer loans
Financing Receivable Allowance For Credit Losses
Financing Receivable, Allowance for Credit Loss, Beginning Balance	10	7	9	8
Provision (Reversal) for Credit Losses	3	8	4	6
Recoveries				1
Financing Receivable, Allowance for Credit Loss, Ending Balance	$ 13	$ 15	$ 13	$ 15

ALLOWANCE FOR CREDIT LOSSES - Amortized Cost Basis of Collateral Dependent Loans Individually Evaluated to Determine Credit Losses and Related ACL Allocated to Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable Allowance For Credit Losses
Amortized cost	$ 7,548,323		$ 7,941,393
Total Allowance for Credit Losses	37,560	$ 35,200	32,302	$ 29,295	$ 29,295	$ 29,205
Residential properties
Financing Receivable Allowance For Credit Losses
Total Allowance for Credit Losses	6,780	6,544	7,216	9,013	8,374	9,921
Multifamily
Financing Receivable Allowance For Credit Losses
Amortized cost	3,293,911		3,347,445
Single family
Financing Receivable Allowance For Credit Losses
Amortized cost	825,840		876,956
Commercial real estate
Financing Receivable Allowance For Credit Losses
Amortized cost	818,342		903,681
Total Allowance for Credit Losses	6,390	5,861	6,683	6,086	4,597	4,148
Commercial
Financing Receivable Allowance For Credit Losses
Amortized cost	2,565,364		2,743,014
Total Allowance for Credit Losses	24,284	$ 22,739	18,333	$ 14,104	$ 16,251	$ 14,796
Collateral Dependent Loans
Financing Receivable Allowance For Credit Losses
Amortized cost	26,184		27,090
Total Allowance for Credit Losses	509		697
Collateral Dependent Loans \| Real Estate
Financing Receivable Allowance For Credit Losses
Amortized cost	22,845		23,155
Collateral Dependent Loans \| Equipment/Receivables
Financing Receivable Allowance For Credit Losses
Amortized cost	3,339		3,935
Collateral Dependent Loans \| Multifamily
Financing Receivable Allowance For Credit Losses
Amortized cost	1,449		2,802
Collateral Dependent Loans \| Multifamily \| Real Estate
Financing Receivable Allowance For Credit Losses
Amortized cost	1,449		2,802
Collateral Dependent Loans \| Single family
Financing Receivable Allowance For Credit Losses
Amortized cost	15,967		15,856
Collateral Dependent Loans \| Single family \| Real Estate
Financing Receivable Allowance For Credit Losses
Amortized cost	15,967		15,856
Collateral Dependent Loans \| Commercial real estate
Financing Receivable Allowance For Credit Losses
Amortized cost	5,421		4,497
Collateral Dependent Loans \| Commercial real estate \| Real Estate
Financing Receivable Allowance For Credit Losses
Amortized cost	5,421		4,497
Collateral Dependent Loans \| Commercial
Financing Receivable Allowance For Credit Losses
Amortized cost	3,347		3,935
Total Allowance for Credit Losses	509		697
Collateral Dependent Loans \| Commercial \| Real Estate
Financing Receivable Allowance For Credit Losses
Amortized cost	8
Collateral Dependent Loans \| Commercial \| Equipment/Receivables
Financing Receivable Allowance For Credit Losses
Amortized cost	$ 3,339		$ 3,935

ALLOWANCE FOR CREDIT LOSSES - Risk Category of Loans Based on Year of Origination (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2025	Dec. 31, 2024
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	$ 66,207	$ 180,701
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	162,969	205,264
Financing Receivable Originated Two Years Before Latest Fiscal Year	164,400	3,196,367
Financing Receivable Originated Three Years Before Latest Fiscal Year	3,116,821	1,432,053
Financing Receivable Originated Four Years Before Latest Fiscal Year	1,375,114	732,044
Prior	1,524,334	989,767
Revolving Loans	1,138,478	1,205,197
Total	7,548,323	7,941,393
Financing Receivable Recorded Investment
Gross charge-offs Originated In Current Fiscal Year		572
Gross charge-offs Originated In Fiscal Year Before Latest Fiscal Year	32	622
Gross charge-offs Originated Two Years Before Latest Fiscal Year	352	1,310
Gross charge-offs Originated Three Years Before Latest Fiscal Year	290	795
Gross charge-offs Originated Four Years Before Latest Fiscal Year	210	3,437
Gross charge-offs Prior	11	6,151
Gross charge-offs Revolving Loans		5,527
Gross charge-offs Total loans	895	18,414
Pass
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	64,632	177,418
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	159,904	188,933
Financing Receivable Originated Two Years Before Latest Fiscal Year	119,898	3,172,041
Financing Receivable Originated Three Years Before Latest Fiscal Year	3,071,957	1,359,155
Financing Receivable Originated Four Years Before Latest Fiscal Year	1,254,647	686,415
Prior	1,327,989	856,104
Revolving Loans	1,121,701	1,192,957
Total	7,120,728	7,633,023
Special Mention
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year		690
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	627	3,400
Financing Receivable Originated Two Years Before Latest Fiscal Year	4,465	11,067
Financing Receivable Originated Three Years Before Latest Fiscal Year	38,843	72,476
Financing Receivable Originated Four Years Before Latest Fiscal Year	102,452	26,538
Prior	68,318	14,023
Revolving Loans	10,239	8,112
Total	224,944	136,306
Substandard
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	1,575	2,593
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	2,438	12,931
Financing Receivable Originated Two Years Before Latest Fiscal Year	40,037	13,259
Financing Receivable Originated Three Years Before Latest Fiscal Year	6,021	422
Financing Receivable Originated Four Years Before Latest Fiscal Year	18,015	19,091
Prior	128,027	119,640
Revolving Loans	6,538	4,128
Total	202,651	172,064
Multifamily
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	60,610	101,311
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	87,402	539
Financing Receivable Originated Two Years Before Latest Fiscal Year	534	1,715,205
Financing Receivable Originated Three Years Before Latest Fiscal Year	1,707,191	796,954
Financing Receivable Originated Four Years Before Latest Fiscal Year	794,363	406,693
Prior	643,811	326,743
Total	3,293,911	3,347,445
Financing Receivable Recorded Investment
Gross charge-offs Prior		657
Gross charge-offs Total loans		657
Multifamily \| Pass
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	60,610	101,311
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	87,402	539
Financing Receivable Originated Two Years Before Latest Fiscal Year	534	1,701,974
Financing Receivable Originated Three Years Before Latest Fiscal Year	1,679,791	749,864
Financing Receivable Originated Four Years Before Latest Fiscal Year	731,151	369,887
Prior	488,825	241,935
Total	3,048,313	3,165,510
Multifamily \| Special Mention
Financing Receivable Recorded Investment
Financing Receivable Originated Three Years Before Latest Fiscal Year	21,402	47,090
Financing Receivable Originated Four Years Before Latest Fiscal Year	48,611	18,572
Prior	54,576	8,623
Total	124,589	74,285
Multifamily \| Substandard
Financing Receivable Recorded Investment
Financing Receivable Originated Two Years Before Latest Fiscal Year		13,231
Financing Receivable Originated Three Years Before Latest Fiscal Year	5,998
Financing Receivable Originated Four Years Before Latest Fiscal Year	14,601	18,234
Prior	100,410	76,185
Total	121,009	107,650
Single family
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	618	5,410
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	5,400	9,441
Financing Receivable Originated Two Years Before Latest Fiscal Year	9,400	247,252
Financing Receivable Originated Three Years Before Latest Fiscal Year	240,404	255,096
Financing Receivable Originated Four Years Before Latest Fiscal Year	247,346	90,422
Prior	284,867	224,220
Revolving Loans	37,805	45,115
Total	825,840	876,956
Single family \| Pass
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	618	5,410
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	5,400	9,441
Financing Receivable Originated Two Years Before Latest Fiscal Year	9,400	247,252
Financing Receivable Originated Three Years Before Latest Fiscal Year	240,404	255,096
Financing Receivable Originated Four Years Before Latest Fiscal Year	247,346	90,422
Prior	267,671	203,116
Revolving Loans	37,121	44,580
Total	807,960	855,317
Single family \| Special Mention
Financing Receivable Recorded Investment
Revolving Loans	526	510
Total	526	510
Single family \| Substandard
Financing Receivable Recorded Investment
Prior	17,196	21,104
Revolving Loans	158	25
Total	17,354	21,129
Commercial real estate
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year		3,784
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	3,123	15,298
Financing Receivable Originated Two Years Before Latest Fiscal Year	2,377	219,464
Financing Receivable Originated Three Years Before Latest Fiscal Year	218,452	116,881
Financing Receivable Originated Four Years Before Latest Fiscal Year	106,221	145,225
Prior	488,169	403,029
Total	818,342	903,681
Financing Receivable Recorded Investment
Gross charge-offs Prior		964
Gross charge-offs Total loans		964
Commercial real estate \| Pass
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year		3,784
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	3,123	2,398
Financing Receivable Originated Two Years Before Latest Fiscal Year	2,377	217,827
Financing Receivable Originated Three Years Before Latest Fiscal Year	210,730	115,582
Financing Receivable Originated Four Years Before Latest Fiscal Year	101,932	136,414
Prior	467,033	378,101
Total	785,195	854,106
Commercial real estate \| Special Mention
Financing Receivable Recorded Investment
Financing Receivable Originated Two Years Before Latest Fiscal Year		1,637
Financing Receivable Originated Three Years Before Latest Fiscal Year	7,722	1,299
Financing Receivable Originated Four Years Before Latest Fiscal Year	1,171	7,966
Prior	12,941	4,795
Total	21,834	15,697
Commercial real estate \| Substandard
Financing Receivable Recorded Investment
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year		12,900
Financing Receivable Originated Four Years Before Latest Fiscal Year	3,118	845
Prior	8,195	20,133
Total	11,313	33,878
Land and construction
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year		125
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	122	24,970
Financing Receivable Originated Two Years Before Latest Fiscal Year		32,877
Financing Receivable Originated Three Years Before Latest Fiscal Year	33,542	4,444
Financing Receivable Originated Four Years Before Latest Fiscal Year	4,373	1,035
Prior	5,280	5,683
Total	43,317	69,134
Land and construction \| Pass
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year		125
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	122	24,970
Financing Receivable Originated Two Years Before Latest Fiscal Year		32,877
Financing Receivable Originated Three Years Before Latest Fiscal Year	33,542	4,444
Financing Receivable Originated Four Years Before Latest Fiscal Year	4,373	1,035
Prior	5,136	5,683
Total	43,173	69,134
Land and construction \| Special Mention
Financing Receivable Recorded Investment
Prior	144
Total	144
Commercial
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	4,909	69,982
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	66,922	155,011
Financing Receivable Originated Two Years Before Latest Fiscal Year	151,498	981,569
Financing Receivable Originated Three Years Before Latest Fiscal Year	917,232	258,571
Financing Receivable Originated Four Years Before Latest Fiscal Year	222,709	88,669
Prior	102,163	30,043
Revolving Loans	1,099,931	1,159,169
Total	2,565,364	2,743,014
Financing Receivable Recorded Investment
Gross charge-offs Originated In Current Fiscal Year		572
Gross charge-offs Originated In Fiscal Year Before Latest Fiscal Year	32	622
Gross charge-offs Originated Two Years Before Latest Fiscal Year	352	1,310
Gross charge-offs Originated Three Years Before Latest Fiscal Year	290	795
Gross charge-offs Originated Four Years Before Latest Fiscal Year	210	3,437
Gross charge-offs Prior	11	4,530
Gross charge-offs Revolving Loans		5,504
Gross charge-offs Total loans	895	16,770
Commercial \| Pass
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	3,334	66,699
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	63,857	151,580
Financing Receivable Originated Two Years Before Latest Fiscal Year	106,996	972,111
Financing Receivable Originated Three Years Before Latest Fiscal Year	907,490	234,062
Financing Receivable Originated Four Years Before Latest Fiscal Year	169,743	88,657
Prior	99,280	27,220
Revolving Loans	1,083,838	1,147,464
Total	2,434,538	2,687,793
Commercial \| Special Mention
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year		690
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	627	3,400
Financing Receivable Originated Two Years Before Latest Fiscal Year	4,465	9,430
Financing Receivable Originated Three Years Before Latest Fiscal Year	9,719	24,087
Financing Receivable Originated Four Years Before Latest Fiscal Year	52,670
Prior	657	605
Revolving Loans	9,713	7,602
Total	77,851	45,814
Commercial \| Substandard
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	1,575	2,593
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year	2,438	31
Financing Receivable Originated Two Years Before Latest Fiscal Year	40,037	28
Financing Receivable Originated Three Years Before Latest Fiscal Year	23	422
Financing Receivable Originated Four Years Before Latest Fiscal Year	296	12
Prior	2,226	2,218
Revolving Loans	6,380	4,103
Total	52,975	9,407
Consumer loans
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	70	89
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year		5
Financing Receivable Originated Two Years Before Latest Fiscal Year	591
Financing Receivable Originated Three Years Before Latest Fiscal Year		107
Financing Receivable Originated Four Years Before Latest Fiscal Year	102
Prior	44	49
Revolving Loans	742	913
Total	1,549	1,163
Financing Receivable Recorded Investment
Gross charge-offs Revolving Loans		23
Gross charge-offs Total loans		23
Consumer loans \| Pass
Financing Receivable Recorded Investment
Financing Receivable Originated In Current Fiscal Year	70	89
Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year		5
Financing Receivable Originated Two Years Before Latest Fiscal Year	591
Financing Receivable Originated Three Years Before Latest Fiscal Year		107
Financing Receivable Originated Four Years Before Latest Fiscal Year	102
Prior	44	49
Revolving Loans	742	913
Total	$ 1,549	$ 1,163

CORE DEPOSIT INTANGIBLES (Details) - USD ($) $ in Thousands	6 Months Ended
CORE DEPOSIT INTANGIBLES (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Core Deposit
CORE DEPOSIT INTANGIBLES
Core deposit intangible assets	$ 2,900		$ 3,600
Core deposit intangible amortization expense	$ 611	$ 756
Minimum
CORE DEPOSIT INTANGIBLES
Estimated useful lives of other intangible assets	7 years
Maximum
CORE DEPOSIT INTANGIBLES
Estimated useful lives of other intangible assets	10 years

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

DERIVATIVE ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands				3 Months Ended		6 Months Ended
	Jan. 29, 2025	Mar. 28, 2024	Feb. 01, 2024	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Derivatives Fair Value [Line Items]
Loss from hedging activities						$ (7,110)	$ 1,673
Gain from derivative activity				$ (289)	$ 836	2,542	$ 1,673
Cash flow hedge classified as derivative liabilities				(2,900)		(2,900)
Cash flow hedge classified as derivative assets								$ 5,100
Derivative Liabilities				8,689		8,689
Multifamily
Derivatives Fair Value [Line Items]
Principal balance, loan held for sale				858,000
Interest Rate Swaps
Derivatives Fair Value [Line Items]
Derivative instrument, notional amounts	$ 1,000,000
Notional amount, Asset			$ 450,000	375,000		375,000
Loss from hedging activities				(7,100)
Fixed interest rate	4.03%		3.583%
Term of the agreement	4 years		5 years
Notional amount reduction		$ 100,000
Gain from derivative activity		$ 1,700
Notional amount in conjunction				625,000
Derivative Liabilities				$ 5,800		$ 5,800
Derivative, Term of Contract	4 years		5 years

LOAN SALES AND MORTGAGE SERVICING RIGHTS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024	Sep. 30, 2024
LOAN SALES AND MORTGAGE SERVICING RIGHTS
Mortgage servicing rights	$ 7,900		$ 6,400
Mortgage servicing rights, valuation allowance	0		0	$ 0
Loans serviced for other financial institution	2,100,000		$ 1,300,000
Servicing fees earned on loans	$ 2,100	$ 1,200
Sale of multifamily loans through securitization		$ 0

- Definition

Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements.

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+ Details

DEPOSITS - Summary of Outstanding Balance of Deposits and Average Rates (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
DEPOSITS
Demand deposits, Noninterest-bearing	$ 1,467,203	$ 1,956,628
Demand deposits, Interest-bearing	1,672,287	1,995,397
Money market and savings	3,604,909	3,524,801
Certificates of deposit	1,849,294	2,393,453
Total	$ 8,593,693	$ 9,870,279
Demand deposits, Interest-bearing, Weighted Average Rate	2.99%	3.29%
Money market and savings, Weighted Average Rate	3.55%	3.60%
Certificates of deposit, Weighted Average Rate	4.50%	4.72%
Total, Weighted Average Rate	3.04%	3.09%

DEPOSITS - Remaining Maturities of Certificate of Deposit Accounts (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
DEPOSITS
3 months or less	$ 65,181	$ 76,691
Over 3 months through 6 months	59,578	44,619
Over 6 months through 12 months	76,369	92,960
Over 12 months	541	13,417
Total	$ 201,669	$ 227,687

DEPOSITS - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2025	Dec. 31, 2024
DEPOSITS
Large depositor relationships, percentage of total deposits	2.00%
Large depositor relationships, consisting of deposit relationships, total deposits	13.40%	19.70%
Accrued interest payable on deposits	$ 18.3	$ 27.7

BORROWINGS (Details)	6 Months Ended	12 Months Ended
BORROWINGS (Details)	Jun. 30, 2025 USD ($)	Dec. 31, 2024 USD ($)
Borrowings
Borrowing in term FHLB	$ 650,000,000	$ 400,000,000
Loans held for investment	3,100,000,000	4,100,000,000
Federal Home Loan Bank, maximum borrowing capacity	612,000,000	1,700,000,000
Federal Home Loan Bank, additional credit available	126,000,000	69,000,000
Unsecured debt	$ 240,000,000
Number of financial institutions	6
Securities pledged as collateral	$ 73,600,000	77,300,000
FHLB putable advances
Borrowings
FHLB advances	$ 1,000,000,000	$ 1,000,000,000
Weighted average life	5 years 9 months	6 years 3 months
Weighted average interest rate	3.74%	3.74%
FHLB Putable Advances Exercisable In December 2024, First Quarterly Put In March 2025
Borrowings
FHLB putable advances eligible for exercising	$ 300,000,000
FHLB Putable Advances Exercisable In Beginning in June 2025
Borrowings
FHLB putable advances eligible for exercising	700,000,000
Minimum
Borrowings
Unsecured debt	20,000,000
Maximum
Borrowings
Unsecured debt	100,000,000
Revolving Credit Facility
Borrowings
Line of credit, borrowing capacity	$ 20,000,000
Debt instrument basis point rate	0.50%
Long-term line of credit	$ 0	$ 0
FHLB Advances Maturing on July 7, 2025
Borrowings
FHLB advances	$ 250,000,000
Debt Instrument, Term	1 month
Interest rate (as a percent)	4.55%
FHLB Advances Maturing on May 28, 2027
Borrowings
FHLB advances	$ 300,000,000	$ 300,000,000
Debt Instrument, Term	3 years	3 years
Interest rate (as a percent)	4.95%	4.95%
FHLB Advances Maturing on June 28, 2028
Borrowings
FHLB advances	$ 100,000,000	$ 100,000,000
Debt Instrument, Term	5 years	5 years
Interest rate (as a percent)	4.21%	4.21%
Multifamily Loan Sale
Borrowings
Federal Home Loan Bank, additional credit available	$ 116,000,000	$ 59,000,000
Deposits
Borrowings
Federal Home Loan Bank, additional credit available	10,000,000	10,000,000
Subordinated notes due 2030
Borrowings
Secured debt	19,000,000	25,000,000
Unsecured federal funds
Borrowings
Unsecured debt	0	0
Bank Term Funding Program
Borrowings
Remaining borrowing capacity	$ 1,300,000,000	$ 1,100,000,000

SUBORDINATED DEBT (Details) $ in Thousands	6 Months Ended	12 Months Ended
SUBORDINATED DEBT (Details) $ in Thousands	Jun. 30, 2025 USD ($) item	Dec. 31, 2024 USD ($) item
Subordinated Debt
Number of subordinated notes \| item	2	2
Current Principal Balance	$ 174,165
Carrying Value	$ 173,490	$ 173,459
Subordinated notes due 2032
Subordinated Debt
Current Interest Rate	3.50%
Interest rate added to base rate	2.04%
Current Principal Balance	$ 150,000
Carrying Value	$ 148,418	148,298
Subordinated notes due 2030
Subordinated Debt
Current Interest Rate	6.00%
Interest rate added to base rate	5.90%
Current Principal Balance	$ 24,165
Carrying Value	$ 25,072	$ 25,161

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
INCOME TAXES
Taxes on income	$ 3,180		$ 421	$ 3,813	$ 1,331
Effective income tax rate				82.80%	(52.30%)
Combined federal and state statutory rates				27.80%	28.20%
Reclassification of loans from loans held for investments to loans held for sale		$ 1,900,000
Deferred tax assets	$ 87,006			$ 87,006		$ 76,650

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

SHAREHOLDERS' EQUITY (Details) $ / shares in Units, $ in Thousands			1 Months Ended	6 Months Ended	12 Months Ended
	Sep. 30, 2024 shares	Jul. 08, 2024 USD ($)	Jul. 31, 2024 USD ($) D $ / shares shares	Jun. 30, 2025 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Sep. 29, 2024 shares	Jul. 01, 2024 $ / shares
Subsidiary Sale Of Stock [Line Items]
Cash and cash equivalents \| $				$ 1,055,614	$ 1,016,132
Preferred stock par or stated value per share \| $ / shares				$ 0.001	$ 0.001
Warrants exercise price \| $ / shares				$ 5.125
Common stock, shares authorized	200,000,000			200,000,000	200,000,000	100,000,000
Non-cumulative cash dividend rate	13.00%
Preferred stock dividends \| $				$ 0	$ 0
July 2024 Capital Raise
Subsidiary Sale Of Stock [Line Items]
Amount of capital raise \| $		$ 228,000	$ 228,000
Lock in period \| D			180
Net proceeds \| $			$ 214,500
Issuance costs \| $			$ 13,500
July 2024 Capital Raise \| Common Stock
Subsidiary Sale Of Stock [Line Items]
New shares issued			11,308,676
Price per share (USD/Share) \| $ / shares			$ 4.1
Closing price of common stock \| $ / shares							$ 6.47
July 2024 Capital Raise \| Warrants
Subsidiary Sale Of Stock [Line Items]
Warrants exercise price \| $ / shares			$ 5,125
Warrants Exercise Period			7 years
July 2024 Capital Raise \| Series A Preferred Stock
Subsidiary Sale Of Stock [Line Items]
New shares issued			29,811
Price per share (USD/Share) \| $ / shares			$ 4,100
Preferred stock par or stated value per share \| $ / shares			$ 0.001
Number of common stock issued for each of convertible preferred stock			1,000
Total number of common shares issued for preferred shares			29,811,000
July 2024 Capital Raise \| Series B Preferred Stock
Subsidiary Sale Of Stock [Line Items]
New shares issued			14,490
Price per share (USD/Share) \| $ / shares			$ 4,100
Preferred stock par or stated value per share \| $ / shares			$ 0.001
Number of common stock issued for each of convertible preferred stock			1,000
Total number of common shares issued for preferred shares			14,490,000
July 2024 Capital Raise \| Series C Non-Voting Common Stock
Subsidiary Sale Of Stock [Line Items]
New shares issued			22,239
Number of common stock issued for each of convertible preferred stock			1,000
Total number of common shares issued for preferred shares			22,239,000
FFI
Subsidiary Sale Of Stock [Line Items]
Dividend payment restrictions (as a percent)				50.00%
Cash and cash equivalents \| $				$ 7,700	$ 7,700

EARNINGS PER SHARE - Summary of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
EARNINGS PER SHARE
Net (loss) income, Basic	$ (7,690)	$ 3,085	$ (794)	$ 3,878
Net (loss) income, Diluted	$ (7,690)	$ 3,085	$ (794)	$ 3,878
Weighted average basic common shares outstanding	82,386,071	56,523,640	82,379,878	56,504,148
Dilutive effect of options, restricted stock, warrants, and contingent shares issuable		8,825		11,696
Diluted common shares outstanding	82,386,071	56,532,465	82,379,878	56,515,844
Net (loss) income per share, Basic	$ (0.09)	$ 0.05	$ (0.01)	$ 0.07
Net (loss) income per share, Diluted	$ (0.09)	$ 0.05	$ (0.01)	$ 0.07

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479887/480-10-S45-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3A
-Subparagraph (24)(d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480244/480-10-S99-3A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
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-Name Accounting Standards Codification
-Section 45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

EARNINGS PER SHARE - Anti-dilutive (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Average share price		$ 5.125
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	8,825		11,696
Employee Stock Option [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share		0	0

SEGMENT REPORTING (Details) - segment	3 Months Ended		6 Months Ended
SEGMENT REPORTING (Details) - segment	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
SEGMENT REPORTING
Reportable business segments	2	2	2	2

SEGMENT REPORTING - Summary of Key Operating Results of Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Segment Reporting Information
Interest income	$ 137,125	$ 150,914	$ 278,867	$ 301,367
Interest expense	87,043	107,085	176,986	219,152
Net interest income	50,082	43,829	101,881	82,215
Provision (reversal) for credit losses	2,366	(806)	5,783	(229)
Noninterest income	1,338	13,658	20,940	26,341
Compensation and benefits	22,890	19,095	47,998	38,502
Customer service costs	12,983	16,104	28,034	26,842
Professional services and marketing costs	7,238	3,667	13,145	7,057
Other	16,813	16,763	32,468	33,837
(Loss) income before income taxes	(10,870)	2,664	(4,607)	2,547
Income tax expense (benefit)	(3,180)	(421)	(3,813)	(1,331)
Net Income (Loss)	(7,690)	3,085	(794)	3,878
Operating Segments \| Banking
Segment Reporting Information
Interest income	137,125	150,914	278,867	301,367
Interest expense	85,338	105,380	173,591	215,742
Net interest income	51,787	45,534	105,276	85,625
Provision (reversal) for credit losses	2,366	(806)	5,783	(229)
Noninterest income	(5,384)	6,241	7,026	11,924
Compensation and benefits	17,517	14,821	38,343	29,993
Customer service costs	12,983	16,104	28,034	26,842
Professional services and marketing costs	5,844	2,656	10,339	5,188
Other	15,446	15,720	30,200	31,818
(Loss) income before income taxes	(7,753)	3,280	(397)	3,937
Income tax expense (benefit)	(2,336)	(255)	(2,709)	(966)
Net Income (Loss)	(5,417)	3,535	2,312	4,903
Operating Segments \| Wealth Management
Segment Reporting Information
Noninterest income	7,077	7,790	14,626	15,139
Compensation and benefits	5,124	4,079	10,846	8,174
Professional services and marketing costs	928	926	2,037	1,827
Other	654	679	1,278	1,359
(Loss) income before income taxes	371	2,106	465	3,779
Income tax expense (benefit)	107	594	146	1,081
Net Income (Loss)	264	1,512	319	2,698
Other
Segment Reporting Information
Interest expense	1,705	1,705	3,395	3,410
Net interest income	(1,705)	(1,705)	(3,395)	(3,410)
Noninterest income	(355)	(373)	(712)	(722)
Compensation and benefits	249	195	(1,191)	335
Professional services and marketing costs	466	85	769	42
Other	713	364	990	660
(Loss) income before income taxes	(3,488)	(2,722)	(4,675)	(5,169)
Income tax expense (benefit)	(951)	(760)	(1,250)	(1,446)
Net Income (Loss)	$ (2,537)	$ (1,962)	$ (3,425)	$ (3,723)