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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table sets forth our assets and liabilities measured at fair value on a recurring basis as of:

			Level 1						Level 2						Level 3
			Quoted prices in active markets for identical assets						Significant other observable inputs						Significant unobservable inputs						Total Estimated Fair Value
March 31, 2025
Available-for-sale securities			$	32,341					$	448,274					$	—					$	480,615
Loans held-for-sale			—						65,603						—						65,603
Mortgage servicing rights			—						—						82,927						82,927
Derivative financial instruments - assets			—						29,678						—						29,678
Derivative financial instruments - liabilities			—						(18,226)						—						(18,226)
Total			$	32,341					$	525,329					$	82,927					$	640,597
December 31, 2024
Available-for-sale securities			$	31,730					$	437,346					$	—					$	469,076
Loans held-for-sale			—						61,825						—						61,825
Mortgage servicing rights			—						—						84,258						84,258
Derivative financial instruments - assets			—						36,088						—						36,088
Derivative financial instruments - liabilities			—						(22,863)						—						(22,863)
Total			$	31,730					$	512,396					$	84,258					$	628,384

Schedule of Reconciliation for Level 3 Assets Measured at Fair Value on a Recurring Basis

The following table presents a reconciliation for our Level 3 assets measured at fair value on a recurring basis:

			For the three months ended March 31,
			2025						2024
Balance, beginning of period			$	84,258					$	76,701
Total losses included in earnings			(3,984)						(316)
Purchases, issuances, sales and settlements:
Issuances			2,653						2,031
Balance, end of period			$	82,927					$	78,416

Schedule of Assets and Liabilities Measured at Fair Value on a Non-recurring

The following table sets forth our assets and liabilities that were measured at fair value on a non-recurring basis as of:

			Level 3
			March 31, 2025						December 31, 2024
Collateral dependent loans:
Commercial and industrial			$	16,027					$	12,430
Commercial real estate			3,515						—
Residential real estate			1,640						1,255
Public finance			5,766						5,766
Other			2,232						2,232
Total collateral dependent loans			$	29,180					$	21,683
Other real estate owned and foreclosed assets, net:
Commercial real estate			$	2,892					$	2,911
Residential real estate			2,022						2,227
Total other real estate owned and foreclosed assets, net:			$	4,914					$	5,138

Schedule of Estimated Fair Values of Financial Instruments Not Carried at Fair Value

The carrying amounts and estimated fair values of financial instruments not carried at fair value are as follows as of:

									Estimated Fair Value
			Carrying Value						Total						Level 1						Level 2						Level 3
March 31, 2025
Assets:
Cash and cash equivalents			$	621,377					$	621,377					$	621,377					$	—					$	—
Securities held-to-maturity			34,914						29,881						—						29,881						—
Loans (excluding collateral dependent loans)			6,435,412						6,315,871						—						—						6,315,871
Restricted equity securities			24,729						24,729						—						24,729						—
Accrued interest receivable			33,668						33,668						—						2,534						31,134
Liabilities:
Deposits (excluding demand deposits)			$	4,590,720					$	4,583,991					$	3,014,580					$	1,569,411					$	—
Securities sold under agreements to repurchase			8,515						8,515						—						8,515						—
FHLB advances			35,000						35,000						—						35,000						—
Subordinated debt, net			75,969						73,835						—						73,835						—
Accrued interest payable			9,060						9,060						—						9,060						—
December 31, 2024
Assets:
Cash and cash equivalents			$	615,917					$	615,917					$	615,917					$	—					$	—
Securities held-to-maturity			35,242						29,563						—						29,563						—
Loans (excluding collateral dependent loans)			6,344,377						6,191,461						—						—						6,191,461
Restricted equity securities			28,917						28,917						—						28,917						—
Accrued interest receivable			32,102						32,102						—						2,131						29,971
Liabilities:
Deposits (excluding demand deposits)			$	4,445,237					$	4,436,305					$	2,879,662					$	1,556,643					$	—
Securities sold under agreements to repurchase			14,699						14,699						—						14,699						—
FHLB advances			135,000						135,000						—						135,000						—
Subordinated debt, net			75,841						73,326						—						73,326						—
Accrued interest payable			8,705						8,705						—						8,705						—

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://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

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-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.

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-Name Accounting Standards Codification
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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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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