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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Summary of Financial Instruments Measured at Fair Value on a Recurring Basis | The following table summarizes financial instruments 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.
| December 31, 2023
($ in thousands) | 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 |  |  |  |  |  |  |
Securities available-for-sale |  |  |  |  |  |  |
Obligations of U.S. Government-sponsored enterprises | $ | — |  |  | $ | 296,446 |  |  | $ | — |  |  | $ | 296,446 |
Obligations of states and political subdivisions | — |  |  | 432,171 |  |  | — |  |  | 432,171 |
Residential mortgage-backed securities | — |  |  | 700,381 |  |  | — |  |  | 700,381 |
Corporate debt securities | — |  |  | 181,701 |  |  | — |  |  | 181,701 |
U.S. Treasury Bills | — |  |  | 7,574 |  |  | — |  |  | 7,574 |
Total securities available-for-sale | — |  |  | 1,618,273 |  |  | — |  |  | 1,618,273 |
Other investments | — |  |  | 2,941 |  |  | — |  |  | 2,941 |
Derivatives | — |  |  | 17,789 |  |  | — |  |  | 17,789 |
Total assets | $ | — |  |  | $ | 1,639,003 |  |  | $ | — |  |  | $ | 1,639,003 |
Liabilities |  |  |  |  |  |  |
Derivatives | $ | — |  |  | $ | 16,184 |  |  | $ | — |  |  | $ | 16,184 |
Total liabilities | $ | — |  |  | $ | 16,184 |  |  | $ | — |  |  | $ | 16,184 |
| December 31, 2022
($ in thousands) | 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 |  |  |  |  |  |  |
Securities available-for-sale |  |  |  |  |  |  |
Obligations of U.S. Government-sponsored enterprises | $ | — |  |  | $ | 237,785 |  |  | $ | — |  |  | $ | 237,785 |
Obligations of states and political subdivisions | — |  |  | 417,444 |  |  | — |  |  | 417,444 |
Residential mortgage-backed securities | — |  |  | 659,404 |  |  | — |  |  | 659,404 |
Corporate debt securities | — |  |  | 12,640 |  |  | — |  |  | 12,640 |
U.S. Treasury Bills | — |  |  | 208,534 |  |  | — |  |  | 208,534 |
Total securities available-for-sale | — |  |  | 1,535,807 |  |  | — |  |  | 1,535,807 |
Other investments | — |  |  | 2,667 |  |  | — |  |  | 2,667 |
Derivative financial instruments | — |  |  | 22,958 |  |  | — |  |  | 22,958 |
Total assets | $ | — |  |  | $ | 1,561,432 |  |  | $ | — |  |  | $ | 1,561,432 |
Liabilities |  |  |  |  |  |  |
Derivative financial instruments | $ | — |  |  | $ | 21,581 |  |  | $ | — |  |  | $ | 21,581 |
Total liabilities | $ | — |  |  | $ | 21,581 |  |  | $ | — |  |  | $ | 21,581 |
Summary of Financial Instruments and Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis | The following tables present financial instruments and non-financial assets still held as of the reporting date measured at fair value on a non-recurring basis.
| December 31, 2023
| (1) |  | (1) |  | (1) |  | (1)
($ in thousands) | Total Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Individually-evaluated loans | $ | 5,138 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,138 |
Other real estate | 5,736 |  |  | — |  |  | — |  |  | 5,736 |
Total | $ | 10,874 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,874 |
| December 31, 2022
| (1) |  | (1) |  | (1) |  | (1)
($ in thousands) | Total Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Other real estate | 269 |  |  | — |  |  | — |  |  | 269 |
Loan servicing asset | 1,027 |  |  | — |  |  | 1,027 |  |  | — |
Total | $ | 1,296 |  |  | $ | — |  |  | $ | 1,027 |  |  | $ | 269 |
(1) The amounts represent balances measured at fair value during the period and still held as of the reporting date.
Summary of Carrying Amount and Fair Values of Financial Instruments Reported on the Balance Sheets | Following is a summary of the carrying amounts and fair values of the Company’s financial instruments on the consolidated balance sheets at December 31, 2023 and 2022. This summary excludes certain financial assets and liabilities for which carrying value approximates fair value and financial instruments that are recorded at fair value on a recurring basis disclosed above. Financial instruments for which carrying values approximate fair value include cash and due from banks, federal funds sold, interest bearing deposits, accrued interest receivable/payable, demand, savings and money market deposits.
| December 31, 2023 |  | December 31, 2022
($ in thousands) | Carrying Amount |  | Estimated fair value |  | Level |  | Carrying Amount |  | Estimated fair value |  | Level
Balance sheet assets |  |  |  |  |  |  |  |  |  |  |
Securities held-to-maturity | $ | 750,434 |  |  | $ | 696,647 |  |  | Level 2 |  | $ | 709,915 |  |  | $ | 628,517 |  |  | Level 2
Other investments | 63,255 |  |  | 63,255 |  |  | Level 2 |  | 61,123 |  |  | 61,123 |  |  | Level 2
Loans held-for-sale | 359 |  |  | 359 |  |  | Level 2 |  | 1,228 |  |  | 1,228 |  |  | Level 2
Loans, net | 10,749,347 |  |  | 10,392,551 |  |  | Level 3 |  | 9,600,206 |  |  | 9,328,844 |  |  | Level 3
State tax credits, held-for-sale | 22,115 |  |  | 23,897 |  |  | Level 3 |  | 27,700 |  |  | 28,880 |  |  | Level 3
Servicing asset | 2,861 |  |  | 3,799 |  |  | Level 2 |  | 3,648 |  |  | 3,905 |  |  | Level 2
Balance sheet liabilities |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit | $ | 1,272,914 |  |  | $ | 1,265,905 |  |  | Level 3 |  | $ | 530,708 |  |  | $ | 512,229 |  |  | Level 3
Subordinated debentures and notes | 155,984 |  |  | 154,354 |  |  | Level 2 |  | 155,433 |  |  | 152,679 |  |  | Level 2
FHLB advances | — |  |  | — |  |  | Level 2 |  | 100,000 |  |  | 100,004 |  |  | Level 2
Other borrowings | 297,829 |  |  | 274,658 |  |  | Level 2 |  | 324,119 |  |  | 324,119 |  |  | Level 2

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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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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 + 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/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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