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Fair Value of Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Summary of Assets Measured on a Recurring Basis | The following table provides the fair value for assets and liabilities required to be measured and reported at fair value on a recurring basis on the Unaudited Consolidated Balance Sheets by level in the fair value hierarchy.
|  | Recurring Fair Value Measurements at Reporting Date
|  | September 30, 2024 |  | December 31, 2023
(Dollars in thousands) |  | Level 1 | Level 2 |  |  | Level 1 | Level 2 |
Assets: |  |  |  |  |  |  |  |
Available-for-sale investment securities: |  |  |  |  |  |  |  |
Obligations of: |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 27,961 |  | $ | — |  |  |  | $ | 30,296 |  | $ | — |  |
U.S. government sponsored agencies |  | — |  | 174,708 |  |  |  | — |  | 118,607 |  |
States and political subdivisions |  | — |  | 206,779 |  |  |  | — |  | 213,296 |  |
Residential mortgage-backed securities |  | — |  | 607,726 |  |  |  | — |  | 628,924 |  |
Commercial mortgage-backed securities |  | — |  | 57,437 |  |  |  | — |  | 51,234 |  |
Bank-issued trust preferred securities |  | — |  | 6,056 |  |  |  | — |  | 5,965 |  |
Total available-for-sale securities |  | $ | 27,961 |  | $ | 1,052,706 |  |  |  | $ | 30,296 |  | $ | 1,018,026 |  |
Equity investment securities (a) |  | 187 |  | 241 |  |  |  | 191 |  | 237 |  |
Derivative assets (b) |  | — |  | 13,685 |  |  |  | — |  | 22,304 |  |
Liabilities: |  |  |  |  |  |  |  |
Derivative liabilities (c) |  | $ | — |  | $ | 12,354 |  |  |  | $ | — |  | $ | 19,122 |  |
(a) Included in "Other investment securities" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 3 Investment Securities" of the Notes to the Unaudited Condensed Consolidated Financial Statements. (b) Included in "Other assets" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 10 Derivative Financial Instruments" of the Notes to the Unaudited Condensed Consolidated Financial Statements. (c) Included in "Accrued expenses and other liabilities" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 10 Derivative Financial Instruments" of the Notes to the Unaudited Condensed Consolidated Financial Statements.
Summary of Assets and Liabilities Measured on a Non-Recurring Basis | The following table provides the fair value for each class of assets and liabilities required to be measured and reported at fair value on a non-recurring basis on the Unaudited Consolidated Balance Sheets by level in the fair value hierarchy at September 30, 2024 and December 31, 2023.
|  |  | Non-Recurring Fair Value Measurements at Reporting Date
|  |  | September 30, 2024 |  |  | December 31, 2023
(Dollars in thousands) |  |  | Level 2 | Level 3 |  |  | Level 2 | Level 3
Assets: |  |  |  |  |  |  |  |
Collateral dependent loans |  |  | $ | — |  | $ | 10,948 |  |  |  | $ | — |  | $ | 501 |
Loans held for sale (a) |  |  | 1,928 |  | — |  |  |  | 1,663 |  | — |
Other real estate owned |  |  | — |  | — |  |  |  | — |  | 7,118 |
(a) Loans held for sale are presented gross of a valuation allowance of $74 and $163 at September 30, 2024 and at December 31, 2023, respectively.
Summary of Financial Instruments Not Required to be Measured at Fair Value | The following table provides the carrying amount for each class of assets and liabilities and the fair value for certain financial instruments that are not required to be measured or reported at fair value on the Unaudited Consolidated Balance Sheets.
|  | Fair Value Measurements of Other Financial Instruments
(Dollars in thousands) |  | Fair Value Hierarchy Level | September 30, 2024 |  | December 31, 2023
| Carrying Amount | Fair Value |  | Carrying Amount | Fair Value
Assets: |  |  |  |  |  |  |
Cash and cash equivalents |  | 1 | $ | 283,707 |  | $ | 283,707 |  |  | $ | 426,722 |  | $ | 426,722 |
Held-to-maturity investment securities: |  |  |  |  |  |  |
Obligations of: |  |  |  |  |  |  |
U.S. government sponsored agencies |  | 2 | 196,642 |  | 191,610 |  |  | 188,475 |  | 180,825 |
States and political subdivisions (a) |  | 2 | 141,918 |  | 115,674 |  |  | 144,496 |  | 114,288 |
Residential mortgage-backed securities |  | 2 | 256,329 |  | 243,499 |  |  | 248,559 |  | 231,620 |
Commercial mortgage-backed securities |  | 2 | 98,984 |  | 85,746 |  |  | 102,365 |  | 85,289 |
Total held-to-maturity securities |  |  | 693,873 |  | 636,529 |  |  | 683,895 |  | 612,022 |
Other investment securities: |  |  |  |  |  |  |
Other investment securities at cost: |  |  |  |  |  |  |
Federal Home Loan Bank ("FHLB") stock |  | N/A | 20,245 |  | 20,245 |  |  | 29,949 |  | 29,949 |
Federal Reserve Bank ("FRB") stock |  | N/A | 27,114 |  | 27,114 |  |  | 26,896 |  | 26,896 |
Total other investment securities at cost |  |  | 47,359 |  | 47,359 |  |  | 56,845 |  | 56,845 |
Other investment securities at fair value: |  |  |  |  |  |  |
Nonqualified deferred compensation (b) |  | 1 | 4,729 |  | 4,729 |  |  | 3,162 |  | 3,162 |
Other investment securities (c) |  | 2 | 3,175 |  | 3,175 |  |  | 2,985 |  | 2,985 |
Total other investment securities |  |  | 55,263 |  | 55,263 |  |  | 62,992 |  | 62,992 |
Loans and leases, net of deferred fees and costs (d) |  | 3 | 6,271,839 |  | 6,229,349 |  |  | 6,159,196 |  | 6,064,999 |
Bank owned life insurance |  | 2 | 143,065 |  | 143,065 |  |  | 140,554 |  | 140,554 |
Liabilities: |  |  |  |  |  |  |
Deposits |  | 2 | $ | 7,483,157 |  | $ | 6,811,258 |  |  | $ | 7,152,297 |  | $ | 6,319,885 |
Short-term borrowings |  | 2 | 175,945 |  | 187,869 |  |  | 601,121 |  | 619,999 |
Long-term borrowings |  | 2 | 236,824 |  | 252,873 |  |  | 216,241 |  | 222,743 |
(a) Obligations of states and political subdivisions are presented gross of an allowance for credit losses of $236 and $238 at September 30, 2024 and December 31, 2023, respectively. (b) Investments in the nonqualified deferred compensation plan consist of mutual funds. (c) "Other investment securities", as reported on the Unaudited Consolidated Balance Sheets, also included equity investment securities at September 30, 2024 and at December 31, 2023, which are reported in the Assets and Liabilities Required to be Measured and Reported at Fair Value on a Recurring Basis table above and not included in this table. (d) Loans and leases, net of deferred fees and costs, are presented gross of an allowance for credit losses of $66.6 million and $62.0 million at September 30, 2024 and at December 31, 2023, respectively.

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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://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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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- 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 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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