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Fair Value Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes the Company’s available-for-sale securities, loans held-for-sale, and derivatives which are measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands):
September 30, 2025 |  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 101,970 |  |  | $ | — |  |  | $ | — |  |  | $ | 101,970 |
Obligations of state and political subdivisions |  |  | — |  |  |  | 1,733,911 |  |  |  | — |  |  |  | 1,733,911 |
Corporate bonds |  |  | — |  |  |  | 83,396 |  |  |  | — |  |  |  | 83,396 |
Residential mortgage-backed securities |  |  | — |  |  |  | 2,470,798 |  |  |  | — |  |  |  | 2,470,798 |
Commercial mortgage-backed securities |  |  | — |  |  |  | 854,188 |  |  |  | — |  |  |  | 854,188 |
Other securities |  |  | 16,550 |  |  |  | — |  |  |  | — |  |  |  | 16,550 |
Total |  | $ | 118,520 |  |  | $ | 5,142,293 |  |  | $ | — |  |  | $ | 5,260,813 |
Loans held-for-sale |  | $ | — |  |  | $ | 25,180 |  |  | $ | — |  |  | $ | 25,180 |
IRLCs |  | $ | — |  |  | $ | — |  |  | $ | 726 |  |  | $ | 726 |
Forward mortgage-backed securities trades |  | $ | — |  |  | $ | (214 | ) |  | $ | — |  |  | $ | (214 | )
September 30, 2024 |  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 293,014 |  |  | $ | — |  |  | $ | — |  |  | $ | 293,014 |
Obligations of states and political subdivisions |  |  | — |  |  |  | 1,471,483 |  |  |  | — |  |  |  | 1,471,483 |
Corporate bonds |  |  | — |  |  |  | 102,471 |  |  |  | — |  |  |  | 102,471 |
Residential mortgage-backed securities |  |  | — |  |  |  | 2,423,930 |  |  |  | — |  |  |  | 2,423,930 |
Commercial mortgage-backed securities |  |  | — |  |  |  | 316,836 |  |  |  | — |  |  |  | 316,836 |
Other securities |  |  | 4,565 |  |  |  | — |  |  |  | — |  |  |  | 4,565 |
Total |  | $ | 297,579 |  |  | $ | 4,314,720 |  |  | $ | — |  |  | $ | 4,612,299 |
Loans held-for-sale |  | $ | — |  |  | $ | 16,513 |  |  | $ | — |  |  | $ | 16,513 |
IRLCs |  | $ | — |  |  | $ | — |  |  | $ | 499 |  |  | $ | 499 |
Forward mortgage-backed securities trades |  | $ | — |  |  | $ | (98 | ) |  | $ | — |  |  | $ | (98 | )
December 31, 2024 |  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 273,562 |  |  | $ | — |  |  | $ | — |  |  | $ | 273,562 |
Obligations of state and political subdivisions |  |  | — |  |  |  | 1,440,245 |  |  |  | — |  |  |  | 1,440,245 |
Corporate bonds |  |  | — |  |  |  | 101,238 |  |  |  | — |  |  |  | 101,238 |
Residential mortgage-backed securities |  |  | — |  |  |  | 2,350,534 |  |  |  | — |  |  |  | 2,350,534 |
Commercial mortgage-backed securities |  |  | — |  |  |  | 447,752 |  |  |  | — |  |  |  | 447,752 |
Other securities |  |  | 4,428 |  |  |  | — |  |  |  | — |  |  |  | 4,428 |
Total |  | $ | 277,990 |  |  | $ | 4,339,769 |  |  | $ | — |  |  | $ | 4,617,759 |
Loans held-for-sale |  | $ | — |  |  | $ | 7,793 |  |  | $ | — |  |  | $ | 7,793 |
IRLCs |  | $ | — |  |  | $ | — |  |  | $ | 238 |  |  | $ | 238 |
Forward mortgage-backed securities trades |  | $ | — |  |  | $ | 84 |  |  | $ | — |  |  | $ | 84 |
Summary of Loans Held-for-Sale at Fair Value | The following table summarizes the Company’s loans held-for-sale at fair value and the net unrealized gains as of the balance sheet dates shown below (dollars in thousands):
|  | September 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |  |  | 2024 |
Unpaid principal balance on loans held-for-sale |  | $ | 24,453 |  |  | $ | 16,086 |  |  | $ | 7,636 |
Net unrealized gains on loans held-for-sale |  |  | 727 |  |  |  | 427 |  |  |  | 157 |
Loans held-for-sale at fair value |  | $ | 25,180 |  |  | $ | 16,513 |  |  | $ | 7,793 |
Summary of Gain Loss on Sale of Mortgage Loans | The following table summarizes the Company’s gains on sale and fees of mortgage loans for the three and nine-months ended September 30, 2025 and 2024 (dollars in thousands):
|  | Three-Months Ended September 30, |  |  | Nine-Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Realized gain on sale and fees on mortgage loans* |  | $ | 4,537 |  |  | $ | 3,463 |  |  | $ | 10,678 |  |  | $ | 9,813 |
Change in fair value on loans held-for-sale and IRLCs |  |  | (531 | ) |  |  | (10 | ) |  |  | 954 |  |  |  | 171 |
Change in forward mortgage-backed securities trades |  |  | 369 |  |  |  | (94 | ) |  |  | (299 | ) |  |  | 190 |
Total gain on sale of mortgage loans |  | $ | 4,375 |  |  | $ | 3,359 |  |  | $ | 11,333 |  |  | $ | 10,174 |
* This includes gains on loans held-for-sale carried under the fair value method and lower of cost or market.
Schedule of Estimated Fair Values and Carrying Values of All Financial Instruments | The estimated fair values and carrying values of all financial instruments under current authoritative guidance were as follows (dollars in thousands).
|  | September 30, |  |  | December 31, |  |  |
|  | 2025 |  |  | 2024 |  |  | 2024 |  |  |
|  | Carrying Value |  |  | Estimated Fair Value |  |  | Carrying Value |  |  | Estimated Fair Value |  |  | Carrying Value |  |  | Estimated Fair Value |  |  | Fair Value Hierarchy
Cash and due from banks |  | $ | 237,466 |  |  | $ | 237,466 |  |  | $ | 296,188 |  |  | $ | 296,188 |  |  | $ | 259,996 |  |  | $ | 259,996 |  |  | Level 1
Federal funds sold |  |  | 11,750 |  |  |  | 11,750 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | Level 1
Interest-bearing demand deposits in banks |  |  | 401,580 |  |  |  | 401,580 |  |  |  | 287,476 |  |  |  | 287,476 |  |  |  | 503,417 |  |  |  | 503,417 |  |  | Level 1
Available-for-sale securities |  |  | 5,260,813 |  |  |  | 5,260,813 |  |  |  | 4,612,299 |  |  |  | 4,612,299 |  |  |  | 4,617,759 |  |  |  | 4,617,759 |  |  | Levels 1 and 2
Loans held-for-investment, net of allowance for credit losses |  |  | 8,137,667 |  |  |  | 8,153,930 |  |  |  | 7,623,255 |  |  |  | 7,607,920 |  |  |  | 7,814,773 |  |  |  | 7,806,258 |  |  | Level 3
Loans held-for-sale |  |  | 26,015 |  |  |  | 26,102 |  |  |  | 20,114 |  |  |  | 20,293 |  |  |  | 8,235 |  |  |  | 8,276 |  |  | Level 2
Accrued interest receivable |  |  | 62,138 |  |  |  | 62,138 |  |  |  | 56,427 |  |  |  | 56,427 |  |  |  | 60,749 |  |  |  | 60,749 |  |  | Level 2
Deposits with stated maturities |  |  | 908,636 |  |  |  | 910,133 |  |  |  | 1,009,667 |  |  |  | 1,011,199 |  |  |  | 917,276 |  |  |  | 919,774 |  |  | Level 2
Deposits with no stated maturities |  |  | 11,937,612 |  |  |  | 11,937,612 |  |  |  | 10,746,194 |  |  |  | 10,746,194 |  |  |  | 11,181,898 |  |  |  | 11,181,898 |  |  | Level 1
Repurchase Agreements |  |  | 50,646 |  |  |  | 50,646 |  |  |  | 57,557 |  |  |  | 57,557 |  |  |  | 61,416 |  |  |  | 61,416 |  |  | Level 2
Borrowings |  |  | 21,956 |  |  |  | 21,956 |  |  |  | 25,978 |  |  |  | 25,978 |  |  |  | 135,603 |  |  |  | 135,603 |  |  | Level 2
Accrued interest payable |  |  | 6,059 |  |  |  | 6,059 |  |  |  | 9,502 |  |  |  | 9,502 |  |  |  | 6,909 |  |  |  | 6,909 |  |  | Level 2
IRLCs |  |  | 726 |  |  |  | 726 |  |  |  | 499 |  |  |  | 499 |  |  |  | 238 |  |  |  | 238 |  |  | Level 3
Forward mortgage-backed securities trades asset (liability) |  |  | (214 | ) |  |  | (214 | ) |  |  | (98 | ) |  |  | (98 | ) |  |  | 84 |  |  |  | 84 |  |  | Level 2

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -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 (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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