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FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurements of Assets and Liabilities Recognized in the Balance Sheets Measured at Fair Value on Recurring Basis | The following tables present the fair value measurements of assets and liabilities recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2024 and 2023.
|  |  |  | Fair Value Measurements Using:
|  |  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
December 31, 2024 |  | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Available for sale securities: |  |  |  |  |  |  |  |
U.S. Government-sponsored agency securities |  | $ | 79,381 |  |  | $ | — |  |  | $ | 79,381 |  |  | $ | — |
State and municipal |  | 863,174 |  |  | — |  |  | 860,793 |  |  | 2,381 |
U.S. Government-sponsored mortgage-backed securities |  | 431,622 |  |  | — |  |  | 431,618 |  |  | 4 |
Corporate obligations |  | 12,298 |  |  | — |  |  | 12,267 |  |  | 31 |
Derivative assets |  | 77,133 |  |  | — |  |  | 77,133 |  |  | — |
Derivative liabilities |  | 76,568 |  |  | — |  |  | 76,568 |  |  | — |
|  |  |  | Fair Value Measurements Using:
|  |  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
December 31, 2023 |  | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Available for sale securities: |  |  |  |  |  |  |  |
U.S. Government-sponsored agency securities |  | $ | 95,307 |  |  | $ | — |  |  | $ | 95,307 |  |  | $ | — |
State and municipal |  | 1,065,171 |  |  | — |  |  | 1,061,896 |  |  | 3,275 |
U.S. Government-sponsored mortgage-backed securities |  | 454,815 |  |  | — |  |  | 454,811 |  |  | 4 |
Corporate obligations |  | 11,819 |  |  | — |  |  | 11,788 |  |  | 31 |
Derivative assets |  | 79,379 |  |  | — |  |  | 79,379 |  |  | — |
Derivative liabilities |  | 79,008 |  |  | — |  |  | 79,008 |  |  | — |
Schedule of Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Recognized in the Balance Sheets using Significant Unobservable Level 3 Inputs | The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying balance sheets using significant unobservable Level 3 inputs for year ended December 31, 2024 and 2023.
| Available for Sale Securities
| For The Year Ended
| December 31, 2024 |  | December 31, 2023
Beginning Balance | $ | 3,310 |  |  | $ | 3,439 |
Included in other comprehensive income (loss) | (908) |  |  | (186) |
Principal payments | 14 |  |  | 57 |
Ending balance | $ | 2,416 |  |  | $ | 3,310 |
Schedule of Description of Valuation Methodologies Used for Instruments Measured at Fair Value on a Non-Recurring Basis and Recognized in the Balance Sheets | Following is a description of valuation methodologies used for instruments measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy at December 31, 2024 and 2023.
|  |  |  | Fair Value Measurements Using
December 31, 2024 |  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Collateral dependent loans |  | $ | 46,810 |  |  | — |  |  | — |  |  | $ | 46,810 |
|  |  |  | Fair Value Measurements Using
December 31, 2023 |  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Collateral dependent loans |  | $ | 55,020 |  |  | — |  |  | — |  |  | $ | 55,020 |
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements Other than Goodwill | The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at December 31, 2024 and 2023.
December 31, 2024 | Fair Value |  | Valuation Technique |  | Unobservable Inputs |  | Range (Weighted-Average)
State and municipal securities | $ | 2,381 |  |  | Discounted cash flow |  | Maturity/Call date |  | 1 month to 6 years
|  |  |  |  | US Muni BQ curve |  | BBB
|  |  |  |  | Discount rate |  | 3.6% - 4.7%
|  |  |  |  | Weighted-average coupon |  | 3.6%
Corporate obligations and U.S. Government-sponsored mortgage-backed securities | $ | 35 |  |  | Discounted cash flow |  | Risk free rate |  | 3 month CME Term SOFR plus 26bps
|  |  |  |  | plus premium for illiquidity (basis points) |  | plus 200bps
|  |  |  |  | Weighted-average coupon |  | 0%
Collateral dependent loans | $ | 46,810 |  |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 0% - 16%
|  |  |  |  | Weighted-average discount by loan balance |  | 12.6%
December 31, 2023 | Fair Value |  | Valuation Technique |  | Unobservable Inputs |  | Range (Weighted-Average)
State and municipal securities | $ | 3,275 |  |  | Discounted cash flow |  | Maturity/Call date |  | 1 month to 15 years
|  |  |  |  | US Muni BQ curve |  | BBB
|  |  |  |  | Discount rate |  | 3.6% - 4.7%
|  |  |  |  | Weighted-average coupon |  | 3.3%
Corporate obligations and U.S. Government-sponsored mortgage-backed securities | $ | 35 |  |  | Discounted cash flow |  | Risk free rate |  | 3 month CME Term SOFR plus 26bps
|  |  |  |  | plus premium for illiquidity (basis points) |  | plus 200bps
|  |  |  |  | Weighted-average coupon |  | 0%
Collateral dependent loans | $ | 55,020 |  |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 0% - 10%
|  |  |  |  | Weighted-average discount by loan balance |  | 4.1%
Schedule of Estimated Fair Values of Financial Instruments | The following tables present estimated fair values of the Corporation’s financial instruments not carried at fair value and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2024 and 2023.
| 2024
| Carrying Amount |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Fair Value
Assets at December 31: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 87,616 |  |  | $ | 87,616 |  |  | $ | — |  |  | $ | — |  |  | $ | 87,616 |
Interest-bearing deposits | 298,891 |  |  | 298,891 |  |  | — |  |  | — |  |  | 298,891 |
Investment securities held to maturity | 2,074,220 |  |  | — |  |  | 1,716,647 |  |  | 6,873 |  |  | 1,723,520 |
Loans held for sale | 18,663 |  |  | — |  |  | 18,663 |  |  | — |  |  | 18,663 |
Loans | 12,661,602 |  |  | — |  |  | — |  |  | 12,437,523 |  |  | 12,437,523 |
Federal Home Loan Bank stock | 41,690 |  |  | — |  |  | 41,690 |  |  | — |  |  | 41,690 |
Interest receivable | 91,829 |  |  | — |  |  | 91,829 |  |  | — |  |  | 91,829 |
Liabilities at December 31: |  |  |  |  |  |  |  |  |
Deposits | 14,521,626 |  |  | $ | 12,502,819 |  |  | $ | 2,010,348 |  |  | $ | — |  |  | 14,513,167 |
Borrowings: |  |  |  |  |  |  |  |  |
Securities sold under repurchase agreements | 142,876 |  |  | — |  |  | 142,865 |  |  | — |  |  | 142,865 |
Federal Home Loan Bank advances | 822,554 |  |  | — |  |  | 816,786 |  |  | — |  |  | 816,786 |
Subordinated debentures and other borrowings | 93,529 |  |  | — |  |  | 84,108 |  |  | — |  |  | 84,108 |
Interest payable | 16,102 |  |  | — |  |  | 16,102 |  |  | — |  |  | 16,102 |
| 2023
| Carrying Amount |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Fair Value
Assets at December 31: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 112,649 |  |  | $ | 112,649 |  |  | $ | — |  |  | $ | — |  |  | $ | 112,649 |
Interest-bearing deposits | 436,080 |  |  | 436,080 |  |  | — |  |  | — |  |  | 436,080 |
Investment securities held to maturity, net | 2,184,252 |  |  | — |  |  | 1,859,974 |  |  | 10,400 |  |  | 1,870,374 |
Loans held for sale | 18,934 |  |  | — |  |  | 18,934 |  |  | — |  |  | 18,934 |
Loans | 12,281,093 |  |  | — |  |  | — |  |  | 11,958,301 |  |  | 11,958,301 |
Federal Home Loan Bank stock | 41,769 |  |  | — |  |  | 41,769 |  |  | — |  |  | 41,769 |
Interest receivable | 97,664 |  |  | — |  |  | 97,664 |  |  | — |  |  | 97,664 |
Liabilities at December 31: |  |  |  |  |  |  |  |  |
Deposits | $ | 14,821,453 |  |  | $ | 12,482,295 |  |  | $ | 2,329,662 |  |  | $ | — |  |  | 14,811,957 |
Borrowings: |  |  |  |  |  |  |  |  |
Securities sold under repurchase agreements | 157,280 |  |  | — |  |  | 157,265 |  |  | — |  |  | 157,265 |
Federal Home Loan Bank advances | 712,852 |  |  | — |  |  | 707,377 |  |  | — |  |  | 707,377 |
Subordinated debentures and other borrowings | 158,644 |  |  | — |  |  | 149,995 |  |  | — |  |  | 149,995 |
Interest payable | 18,912 |  |  | — |  |  | 18,912 |  |  | — |  |  | 18,912 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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/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 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 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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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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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