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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of fair values of financial assets and liabilities measured on a recurring basis
The following tables present assets and liabilities that are measured at fair value on a recurring basis as of the dates presented:
Level 1Level 2Level 3Totals
December 31, 2023
Financial assets:
Securities available for sale$— $923,279 $— $923,279 
Total securities available for sale— 923,279 — 923,279 
Derivative instruments— 37,151 — 37,151 
Mortgage loans held for sale in loans held for sale— 179,756 — 179,756 
Total financial assets$— $1,140,186 $— $1,140,186 
Financial liabilities:
Derivative instruments$— $33,608 $— $33,608 
Level 1Level 2Level 3Totals
December 31, 2022
Financial assets:
Securities available for sale:
Other available for sale securities$— $1,533,942 $— $1,533,942 
Total securities available for sale— 1,533,942 — 1,533,942 
Derivative instruments— 38,047 — 38,047 
Mortgage loans held for sale in loans held for sale— 110,105 — 110,105 
Total financial assets$— $1,682,094 $— $1,682,094 
Financial liabilities:
Derivative instruments$— $33,185 $— $33,185 
Schedule of impaired loans measured at fair value on a nonrecurring basis Consolidated Balance Sheets at period end and the level within the fair value hierarchy each is classified: 
Level 1Level 2Level 3Totals
December 31, 2023
Individually evaluated loans, net of allowance for credit losses$— $— $21,303 $21,303 
Total$— $— $21,303 $21,303 
Level 1Level 2Level 3Totals
December 31, 2022
Individually evaluated loans, net of allowance for credit losses$— $— $14,732 $14,732 
OREO— — 1,763 1,763 
Total$— $— $16,495 $16,495 
Schedule of OREO measured at fair value on a nonrecurring basis The following table presents, as of December 31, 2022, OREO measured at fair value on a nonrecurring basis that was still held in the Consolidated Balance Sheets at period-end.
December 31, 2022
Carrying amount prior to remeasurement$1,842 
Impairment recognized in results of operations(79)
Fair value$1,763 
Significant unobservable inputs (Level 3) used in valuation of assets and liabilities measured at fair value on non recurring basis
The following table presents information as of December 31, 2023 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
Financial instrumentFair
Value
Valuation TechniqueSignificant
Unobservable Inputs
Range of Inputs
Individually evaluated loans, net of allowance for credit losses$21,303 Appraised value of collateral less estimated costs to sellEstimated costs to sell
4-10%
OREO$— Appraised value of property less estimated costs to sellEstimated costs to sell
4-10%
Summarizes differences between fair value and principal balance for mortgage loans held for sale measure at fair value
The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of December 31, 2023 and December 31, 2022:
Aggregate
Fair Value
Aggregate
Unpaid
Principal
Balance
Difference
December 31, 2023
Mortgage loans held for sale measured at fair value$179,756 $174,471 $5,285 
December 31, 2022
Mortgage loans held for sale measured at fair value$110,105 $108,143 $1,962 
Schedule of assets and liabilities not measured and reported at fair value on a recurring basis or nonrecurring basis
The carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented:
  Fair Value
 Carrying
Value
Level 1Level 2Level 3Total
December 31, 2023
Financial assets
Cash and cash equivalents$801,351 $801,351 $— $— $801,351 
Securities held to maturity1,221,464 — 1,121,830 — 1,121,830 
Securities available for sale923,279 — 923,279 — 923,279 
Loans held for sale179,756 — 179,756 — 179,756 
Loans, net12,152,652 — — 11,594,363 11,594,363 
Mortgage servicing rights91,688 — — 117,664 117,664 
Derivative instruments37,151 — 37,151 — 37,151 
Financial liabilities
Deposits$14,076,785 $11,381,556 $2,678,494 $— $14,060,050 
Short-term borrowings307,577 307,577 — — 307,577 
Junior subordinated debentures112,978 — 96,435 — 96,435 
Subordinated notes316,422 — 255,192 — 255,192 
Derivative instruments33,608 — 33,608 — 33,608 
  Fair Value
 Carrying
Value
Level 1Level 2Level 3Total
December 31, 2022
Financial assets
Cash and cash equivalents$575,992 $575,992 $— $— $575,992 
Securities held to maturity1,324,040 — 1,206,540 — 1,206,540 
Securities available for sale1,533,942 — 1,533,942 — 1,533,942 
Loans held for sale110,105 — 110,105 — 110,105 
Loans, net11,386,214 — — 10,850,181 10,850,181 
Mortgage servicing rights84,448 — — 122,454 122,454 
Derivative instruments38,047 — 38,047  38,047 
Financial liabilities
Deposits$13,486,966 $11,791,526 $1,653,891 $— $13,445,417 
Short-term borrowings712,232 712,232 — — 712,232 
Junior subordinated debentures112,042 — 98,574 — 98,574 
Subordinated notes316,091 — 277,500 — 277,500 
Derivative instruments33,185 — 33,185 — 33,185