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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring And Nonrecurring Basis

The following table presents assets and liabilities measured at fair value (in thousands):

			Total			Level 1			Level 2			Level 3			Total Gains (Losses)
September 30, 2023
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions			$	200,448		$	—		$	200,448		$	—
Mortgage-backed securities:
U.S. Government agencies			1,121,603			—			1,121,603			—
Private label			6,545			—			4,667			1,878
Trust preferred securities			4,307			—			4,307			—
Corporate securities			25,316			—			25,316			—
Marketable equity securities			7,638			3,554			4,084			—
Derivative assets			89,503			—			89,503			—
Financial Liabilities
Derivative liabilities			71,678			—			71,678			—
Nonrecurring fair value measurements
Non-Financial Assets
Other real estate owned			720			—			—			720			90
December 31, 2022
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions			$	268,315		$	—		$	268,315		$	—
Mortgage-backed securities:
U.S. Government agencies			1,202,279			—			1,202,279			—
Private label			7,231			—			4,772			2,459
Trust preferred securities			3,828			—			3,828			—
Corporate securities			23,867			—			23,867			—
Marketable equity securities			7,569			3,851			3,718			—
Certificates of deposit held for investment			747			—			747			—
Derivative assets			81,838			—			81,838			—
Financial Liabilities
Derivative liabilities			65,056			—			65,056			—
Nonrecurring fair value measurements
Non-Financial Assets
Other real estate owned			909			—			—			909			(90)

Schedule Of Estimates Of Fair Value Of Financial Instruments

The following table represents the estimates of fair value of financial instruments (in thousands). For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as noninterest-bearing demand, interest-bearing demand and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.

			Carrying Amount			Fair Value			Level 1			Level 2			Level 3
September 30, 2023
Assets:
Cash and cash equivalents			$	110,716		$	110,716		$	110,716		$	—		$	—
Securities available-for-sale			1,358,219			1,358,219			—			1,356,341			1,878
Marketable equity securities			7,638			7,638			3,554			4,084			—
Net loans			3,984,354			3,805,058			—			—			3,805,058
Accrued interest receivable			19,223			19,223			19,223			—			—
Derivative assets			89,503			89,503			—			89,503			—
Liabilities:
Deposits			4,945,134			4,597,310			3,611,660			985,650			—
Customer repurchase agreements			278,671			278,671			—			278,671			—
Long-term debt			100,000			96,888			—			96,888			—
Accrued interest payable			3,581			3,581			3,581			—			—
Derivative liabilities			71,678			71,678			—			71,678			—
December 31, 2022
Assets:
Cash and cash equivalents			$	200,000		$	200,000		$	200,000		$	—		$	—
Securities available-for-sale			1,505,520			1,505,520			—			1,503,061			2,459
Marketable equity securities			7,569			7,569			3,851			3,718			—
Net loans			3,629,150			3,491,318			—			—			3,491,318
Accrued interest receivable			18,287			18,287			18,287			—			—
Derivative assets			81,838			81,838			—			81,838			—
Liabilities:
Deposits			4,869,866			4,867,883			3,981,766			886,117			—
Customer repurchase agreements			290,964			290,964			—			290,964			—
Accrued interest payable			953			953			953			—			—
Derivative liabilities			65,057			65,057			—			65,057			—

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

Reference 4: 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

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X

- 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 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-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 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

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