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Fair Value Disclosures (Tables)

9 Months Ended

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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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).

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-Topic 820
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