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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2025
Fair value measurements  
Schedule of differences between the fair value carrying amount of mortgages held for sale measured at fair value and the aggregate unpaid principal amount
The following table shows the differences between the fair value carrying amount of mortgages held for sale measured at fair value and the aggregate unpaid principal amount the Company is contractually entitled to receive at maturity.
(Dollars in thousands)Fair value 
carrying
amount		Aggregate
unpaid principal		Excess of fair value carrying amount over (under) unpaid principal 
September 30, 2025    
Mortgages held for sale reported at fair value$7,110 $6,816 $294 (1)
December 31, 2024    
Mortgages held for sale reported at fair value$2,569 $2,343 $226 (1)
(1)The excess of fair value carrying amount over (under) unpaid principal is included in mortgage banking income and includes changes in fair value at and subsequent to funding and gains and losses on the related loan commitment prior to funding.
Schedule of assets and liabilities measured at fair value on a recurring basis
The following table shows the balance of assets and liabilities measured at fair value on a recurring basis.
(Dollars in thousands)Level 1Level 2Level 3Total
September 30, 2025    
Assets:    
Investment securities available-for-sale:    
U.S. Treasury and Federal agencies securities$406,996 $292,861 $— $699,857 
U.S. States and political subdivisions securities— 104,704 976 105,680 
Mortgage-backed securities — Federal agencies— 689,078 — 689,078 
Corporate debt securities— 502 — 502 
Total debt securities available-for-sale406,996 1,087,145 976 1,495,117 
Mortgages held for sale— 7,110 — 7,110 
Accrued income and other assets (interest rate swap agreements)— 18,141 — 18,141 
Total$406,996 $1,112,396 $976 $1,520,368 
Liabilities:    
Accrued expenses and other liabilities (interest rate swap agreements)$— $18,478 $— $18,478 
Total$— $18,478 $— $18,478 
December 31, 2024    
Assets:    
Investment securities available-for-sale:    
U.S. Treasury and Federal agencies securities$446,021 $311,728 $— $757,749 
U.S. States and political subdivisions securities— 81,600 1,032 82,632 
Mortgage-backed securities — Federal agencies— 695,918 — 695,918 
Total debt securities available-for-sale446,021 1,089,246 1,032 1,536,299 
Mortgages held for sale— 2,569 — 2,569 
Accrued income and other assets (interest rate swap agreements)— 16,424 — 16,424 
Total$446,021 $1,108,239 $1,032 $1,555,292 
Liabilities:    
Accrued expenses and other liabilities (interest rate swap agreements)$— $16,727 $— $16,727 
Total$— $16,727 $— $16,727 
Schedule of changes in investment securities available-for-sale Level 3 assets measured at fair value on a recurring basis
The following table shows changes in Level 3 assets measured at fair value on a recurring basis for the quarters ended September 30, 2025, and 2024.
(Dollars in thousands)U.S. States and
political
subdivisions
securities
Beginning balance July 1, 2025$971 
Total gains or losses (realized/unrealized): 
Included in earnings— 
Included in other comprehensive income (loss)5 
Purchases— 
Issuances— 
Sales— 
Settlements— 
Maturities— 
Transfers into Level 3— 
Transfers out of Level 3— 
Ending balance September 30, 2025$976 
Beginning balance July 1, 2024$1,037 
Total gains or losses (realized/unrealized): 
Included in earnings— 
Included in other comprehensive income (loss)21 
Purchases— 
Issuances— 
Sales— 
Settlements— 
Maturities— 
Transfers into Level 3— 
Transfers out of Level 3— 
Ending balance September 30, 2024$1,058 
Schedule of carrying value of assets measured at fair value on a non-recurring basis
The following table shows the carrying value of assets measured at fair value on a non-recurring basis.
(Dollars in thousands)Level 1Level 2Level 3Total
September 30, 2025    
Collateral-dependent impaired loans$— $— $28,781 $28,781 
Accrued income and other assets (mortgage servicing rights)— — 3,263 3,263 
Accrued income and other assets (repossessions)— — 435 435 
Accrued income and other assets (other real estate)— — 120 120 
Total$— $— $32,599 $32,599 
December 31, 2024    
Collateral-dependent impaired loans$— $— $725 $725 
Accrued income and other assets (mortgage servicing rights)— — 3,436 3,436 
Accrued income and other assets (repossessions)— — 155 155 
Accrued income and other assets (other real estate)— — 460 460 
Total$— $— $4,776 $4,776 
Schedule of fair values of financial instruments
The following table shows the fair values of the Company’s financial instruments.
(Dollars in thousands)Carrying or Contract ValueFair ValueLevel 1Level 2Level 3
September 30, 2025     
Assets:     
Cash and due from banks$75,316 $75,316 $75,316 $— $— 
Federal funds sold and interest bearing deposits with other banks138,942 138,942 138,942 — — 
Investment securities, available-for-sale1,495,117 1,495,117 406,996 1,087,145 976 
Other investments22,140 22,140 22,140 — — 
Mortgages held for sale7,110 7,110 — 7,110 — 
Loans and leases, net of allowance for loan and lease losses6,803,024 6,826,027 — — 6,826,027 
Mortgage servicing rights3,263 7,486 — — 7,486 
Accrued interest receivable32,138 32,138 — 32,138 — 
Interest rate swaps18,141 18,141 — 18,141 — 
Liabilities:     
Deposits$7,409,819 $7,407,686 $5,542,921 $1,864,765 $— 
Short-term borrowings73,574 73,574 73,527 47 — 
Long-term debt and mandatorily redeemable securities42,234 42,115 — 42,115 — 
Subordinated notes58,764 59,069 — 59,069 — 
Accrued interest payable27,780 27,780 — 27,780 — 
Interest rate swaps18,478 18,478 — 18,478 — 
Off-balance-sheet instruments *— 145 — 145 — 
December 31, 2024     
Assets:     
Cash and due from banks$76,837 $76,837 $76,837 $— $— 
Federal funds sold and interest bearing deposits with other banks47,989 47,989 47,989 — — 
Investment securities, available-for-sale1,536,299 1,536,299 446,021 1,089,246 1,032 
Other investments23,855 23,855 23,855 — — 
Mortgages held for sale2,569 2,569 — 2,569 — 
Loans and leases, net of allowance for loan and lease losses6,699,268 6,608,109 — — 6,608,109 
Mortgage servicing rights3,436 7,480 — — 7,480 
Accrued interest receivable32,790 32,790 — 32,790 — 
Interest rate swaps16,424 16,424 — 16,424 — 
Liabilities:     
Deposits$7,230,035 $7,226,239 $5,440,309 $1,785,930 $— 
Short-term borrowings249,198 249,198 74,198 175,000 — 
Long-term debt and mandatorily redeemable securities39,156 38,784 — 38,784 — 
Subordinated notes58,764 56,903 — 56,903 — 
Accrued interest payable36,494 36,494 — 36,494 — 
Interest rate swaps16,727 16,727 — 16,727 — 
Off-balance-sheet instruments *— 144 — 144 — 
* Represents estimated cash outflows required to currently settle the obligations at current market rates.
Recurring  
Fair value measurements  
Schedule of valuation methodology and unobservable inputs for Level 3 assets and liabilities measured at fair value on a recurring and non-recurring basis
The following table shows the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a recurring basis.
(Dollars in thousands)Fair ValueValuation MethodologyUnobservable InputsRange of InputsWeighted Average
September 30, 2025    
Debt securities available-for sale    
Direct placement municipal securities
$976 Discounted cash flowsCredit spread assumption
3.43% - 4.23%
3.76 %
December 31, 2024    
Debt securities available-for sale
    
Direct placement municipal securities
$1,032 Discounted cash flowsCredit spread assumption
1.15% - 4.59%
3.96 %
Non-recurring  
Fair value measurements  
Schedule of valuation methodology and unobservable inputs for Level 3 assets and liabilities measured at fair value on a recurring and non-recurring basis
The following table below shows the valuation methodology and unobservable inputs for Level 3 assets and liabilities measured at fair value on a non-recurring basis.
(Dollars in thousands)Carrying ValueFair ValueValuation MethodologyUnobservable InputsRange of InputsWeighted Average
September 30, 2025     
Collateral-dependent impaired loans$28,781 $28,781 Collateral based measurements including appraisals, trade publications, and auction valuesDiscount for lack of marketability and current conditions
15% - 45%
27.6%
Mortgage servicing rights3,263 7,486 Discounted cash flowsConstant prepayment rate (CPR)
6.8% - 31.0%
7.4%
    Discount rate
10.5% - 12.5%
10.7%
Repossessions435 444 Appraisals, trade publications and auction valuesDiscount for lack of marketability
0% - 40%
2%
Other real estate120 130 AppraisalsDiscount for lack of marketability
0% - 8%
8%
December 31, 2024     
Collateral-dependent impaired loans$725 $725 Collateral based measurements including appraisals, trade publications, and auction valuesDiscount for lack of marketability and current conditions
25% - 30%
28.0 %
Mortgage servicing rights3,436 7,480 Discounted cash flowsConstant prepayment rate (CPR)
7.6% - 23.0%
7.6 %
    Discount rate
11.1% - 13.1%
11.3 %
Repossessions155 170 Appraisals, trade publications and auction valuesDiscount for lack of marketability
0% - 10%
9 %
Other real estate460 500 AppraisalsDiscount for lack of marketability
0% - 8%
8 %