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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 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 Consolidated Balance Sheets by level in the fair value hierarchy. At December 31, 2024 and at December 31, 2023, there were no assets or liabilities measured on a recurring basis that were considered Level 3 measurements.

			Recurring Fair Value Measurements at Reporting Date
			December 31, 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			$	15,196		$	—								$	30,296		$	—
U.S. government sponsored agencies			—			209,083									—			118,607
States and political subdivisions			—			196,301									—			213,296
Residential mortgage-backed securities			—			601,802									—			628,924
Commercial mortgage-backed securities			—			55,065									—			51,234
Bank-issued trust preferred securities			—			6,108									—			5,965
Total available-for-sale securities			15,196			1,068,359									30,296			1,018,026
Equity investment securities (a)			197			244									191			237
Derivative assets (b)			—			18,743									—			22,304
Liabilities:
Derivative liabilities (c)			—			17,046									$	—		$	19,122

(a) Included in “Other investment securities” on the Consolidated Balance Sheets. For additional information, see “Note 3 Investment Securities.”

(b) Included in “Other assets” on the Consolidated Balance Sheets. For additional information, see “Note 15 Derivative Financial Instruments.”

(c) Included in “Accrued expenses and other liabilities” on the Consolidated Balance Sheets. For additional information, see “Note 15 Derivative Financial Instruments.”

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 Consolidated Balance Sheets by level in the fair value hierarchy. At December 31, 2024 and at December 31, 2023, there were no assets or liabilities measured on a non-recurring basis that were considered Level 1 measurements.

									Non-Recurring Fair Value Measurements at Reporting Date
									December 31, 2024												December 31, 2023
(Dollars in thousands)									Level 2			Level 3									Level 2			Level 3
Collateral dependent loans									$	—		$	4,375								$	—		$	501
Loans held for sale (a)									1,499			—									1,663			—
Other real estate owned (“OREO”)									—			5,891									—			7,118

(a) Loans held for sale are presented gross of a valuation allowance of $166 and $163 at December 31, 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 Consolidated Balance Sheets. 

			Fair Value Measurements of Other Financial Instruments
(Dollars in thousands)			Fair Value Hierarchy Level			December 31, 2024									December 31, 2023
						Carrying Amount			Fair Value						Carrying Amount			Fair Value
												Assets:
Cash and cash equivalents			1			$	217,664		$	217,664					$	426,722		$	426,722
Held-to-maturity investment securities:
Obligations of:
U.S. government sponsored agencies			2			233,302			223,294						188,475			180,825
States and political subdivisions (a)			2			142,691			110,848						144,496			114,288
Residential mortgage-backed securities			2			300,290			276,278						248,559			231,620
Commercial mortgage-backed securities			2			98,754			82,079						102,365			85,289
Total held-to-maturity securities						775,037			692,499						683,895			612,022
Other investment securities:
Other investment securities at cost:
Federal Home Loan Bank (“FHLB”) stock			N/A			24,606			24,606						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						51,720			51,720						56,845			56,845
Other investment securities at fair value:
Nonqualified deferred compensation (b)			1			4,898			4,898						3,162			3,162
Other investment securities (c)			2			3,073			3,073						2,985			2,985
Total other investment securities at fair value						59,691			59,691						62,992			62,992
Loans and leases, net of deferred fees and costs (d)			3			6,358,003			6,240,751						6,159,196			6,064,999
Bank owned life insurance			2			143,710			143,710						140,554			140,554
Financial liabilities:
Deposits			2			$	7,590,205		$	6,713,360					$	7,102,921		$	6,270,496
Short-term borrowings			2			193,474			204,577						650,497			668,956
Long-term borrowings			2			238,073			251,736						216,241			222,376

(a) Held-to-maturity investment securities are presented gross of an allowance for credit losses of $237 and $238, at December 31, 2024 and at December 31, 2023, respectively.

(b) Nonqualified deferred compensation includes underlying investments in mutual funds.

(c) “Other investment securities,” as reported on the Consolidated Balance Sheets, also included equity investment securities at December 31, 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 $63.3 million and $62.0 million, as of December 31, 2024 and 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

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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

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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 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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