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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024
($ 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			$	—					$	276,040					$	—					$	276,040
Obligations of states and political subdivisions			—						409,197						—						409,197
Agency mortgage-backed securities			—						1,027,394						—						1,027,394
Corporate debt securities			—						20,746						—						20,746
U.S. Treasury Bills			—						128,893						—						128,893
Total securities available-for-sale			—						1,862,270						—						1,862,270
Other investments			—						2,983						—						2,983
Derivatives			—						15,144						—						15,144
Total assets			$	—					$	1,880,397					$	—					$	1,880,397
Liabilities
Derivatives			$	—					$	18,692					$	—					$	18,692
Total liabilities			$	—					$	18,692					$	—					$	18,692

			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
Agency 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
Derivative financial instruments			—						17,789						—						17,789
Total assets			$	—					$	1,639,003					$	—					$	1,639,003
Liabilities
Derivative financial instruments			$	—					$	16,184					$	—					$	16,184
Total liabilities			$	—					$	16,184					$	—					$	16,184

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, 2024
			(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			$	15,370					$	—					$	—					$	15,370
Other real estate			3,955						—						—						3,955
Total			$	19,325					$	—					$	—					$	19,325

			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

(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, 2024 and 2023. 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, 2024																		December 31, 2023
($ in thousands)			Carrying Amount						Estimated fair value						Level						Carrying Amount						Estimated fair value						Level
Balance sheet assets
Securities held-to-maturity, net			$	928,935					$	858,871					Level 2						$	750,434					$	696,647					Level 2
Other investments			69,801						69,801						Level 2						63,255						63,255						Level 2
Loans held-for-sale			110						110						Level 2						359						359						Level 2
Loans, net			11,082,405						10,983,459						Level 3						10,749,347						10,392,551						Level 3
State tax credits, held-for-sale			14,663						15,518						Level 3						22,115						23,897						Level 3
Servicing asset			2,256						3,570						Level 2						2,861						3,799						Level 2
Balance sheet liabilities
Certificates of deposit			$	1,369,604					$	1,364,377					Level 3						$	1,272,914					$	1,265,905					Level 3
Subordinated debentures and notes			156,551						155,102						Level 2						155,984						154,354						Level 2
Other borrowings			280,821						258,461						Level 2						297,829						274,658						Level 2

X

- 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
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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 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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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

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-Topic 820
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-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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