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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

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

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):

			Fair Value Measurements at June 30, 2025, Using:
			Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
			(Level 1)						(Level 2)						(Level 3)						Total
Financial assets
Investment Securities
U.S. Treasuries and government agencies			$	153,345					$	—					$	—					$	153,345
Obligations of states and municipalities			—						809,133						—						809,133
Residential mortgage backed - agency			—						55,137						—						55,137
Residential mortgage backed - non-agency			—						233,004						—						233,004
Commercial mortgage backed - agency			—						54,449						—						54,449
Commercial mortgage backed - non-agency			—						130,108						—						130,108
Asset-backed			—						56,426						—						56,426
Other			—						31,009						—						31,009
Total investment securities available-for-sale			$	153,345					$	1,369,266					$	—					$	1,522,611
Loans held-for-sale			$	—					$	1,511					$	—					$	1,511
Equity investments			$	—					$	13,038					$	—					$	13,038
Derivatives			$	—					$	2,575					$	—					$	2,575
Financial liabilities
Derivatives			$	—					$	2,133					$	—					$	2,133

			Fair Value Measurements at December 31, 2024, Using:
			Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
			(Level 1)						(Level 2)						(Level 3)						Total
Financial assets
Investment Securities
U.S. Treasuries and government agencies			$	149,127					$	—					$	—					$	149,127
Obligations of states and municipalities			—						698,724						—						698,724
Residential mortgage backed - agency			—						53,186						—						53,186
Residential mortgage backed - non-agency			—						247,876						—						247,876
Commercial mortgage backed - agency			—						33,071						—						33,071
Commercial mortgage backed - non-agency			—						154,511						—						154,511
Asset-backed			—						64,056						—						64,056
Other			—						31,820						—						31,820
Total investment securities available-for-sale			$	149,127					$	1,283,244					$	—					$	1,432,371
Loans held-for-sale			$	—					$	2,331					$	—					$	2,331
Equity investments			$	—					$	12,407					$	—					$	12,407
Derivatives			$	—					$	3,191					$	—					$	3,191
Financial liabilities
Derivatives			$	—					$	1,988					$	—					$	1,988

Schedule of Fair Value Measurements, Nonrecurring

Assets that were measured at fair value on a non-recurring basis during the period are summarized below (in thousands):

						Fair Value Measurements at June 30, 2025, Using:
						Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
						(Level 1)						(Level 2)						(Level 3)						Total
Collateral dependent loans
Commercial real estate						$	—					$	—					$	1,164					$	1,164
Owner-occupied commercial real estate						—						—						—						—
Acquisition, construction & development						—						—						233						233
Commercial & industrial						—						—						185						185
Single family residential						—						—						—						—
Consumer non-real estate and other						—						—						—						—
Other real estate owned						—						—						2,742						2,742

			Fair Value Measurements at December 31, 2024, Using:
			Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
			(Level 1)						(Level 2)						(Level 3)						Total
Collateral dependent loans
Commercial real estate			$	—					$	—					$	2,668					$	2,668
Owner-occupied commercial real estate			—						—						—						—
Acquisition, construction & development			—						—						232						232
Commercial & industrial			—						—						249						249
Single family residential			—						—						872						872
Consumer non-real estate and other			—						—						—						—
Other real estate owned			—						—						2,783						2,783

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following table presents quantitative information about Level 3 Fair Value Measurements for assets measured at fair value on a non-recurring basis at June 30, 2025, and December 31, 2024 (in thousands except for percentages):

Description

Fair Value

Valuation Techniques

Unobservable Inputs

Range

June 30, 2025

Collateral dependent loans

$

1,582

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Other real estate owned

2,742

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

December 31, 2024

Collateral dependent loans

$

4,021

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Other real estate owned

2,783

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Schedule of Fair Value Disclosure of Asset and Liability not Measured at Fair Value

The carrying amounts and estimated fair values of financial instruments not carried at fair value, at June 30, 2025, and December 31, 2024, were as follows (in thousands):

									Fair Value Measurements at June 30, 2025, Using:
			Carrying Amount						Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
									(Level 1)						(Level 2)						(Level 3)						Total
Financial Assets
Cash and due from banks			$	65,173					$	65,173					$	—					$	—					$	65,173
Interest-earning deposits with banks			259,973						259,973						—						—						259,973
Loans, net			5,523,201						—						—						5,443,667						5,443,667
Accrued interest			35,453						—						35,453						—						35,453
Financial Liabilities
Non-interest-bearing deposits			$	1,363,617					$	—					$	1,363,617					$	—					$	1,363,617
Interest-bearing deposits			5,027,357						—						5,020,026						—						5,020,026
Short-term borrowings			650,000						—						649,183						—						649,183
Subordinated debentures, net			97,552						—						98,107						—						98,107
Subordinated debentures owed to unconsolidated subsidiary trusts			17,140						—						16,368						—						16,368
Accrued interest			4,890						—						4,890						—						4,890

									Fair Value Measurements at December 31, 2024, Using:
			Carrying Amount						Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
									(Level 1)						(Level 2)						(Level 3)						Total
Financial Assets
Cash and due from banks			$	35,554					$	35,554					$	—					$	—					$	35,554
Interest-bearing deposits with banks			99,760						99,760						—						—						99,760
Loans, net			5,604,196						—						—						5,465,722						5,465,722
Accrued interest			34,454						—						34,454						—						34,454
Financial Liabilities
Non-interest-bearing deposits			$	1,379,940					$	—					$	1,379,940					$	—					$	1,379,940
Interest-bearing deposits			5,135,299						—						5,126,423						—						5,126,423
Short-term borrowings			365,000						—						364,985						—						364,985
Subordinated debentures, net			94,872						—						91,760						—						91,760
Subordinated debentures owed to unconsolidated subsidiary trusts			17,013						—						14,587						—						14,587
Accrued interest			6,157						—						6,157						—						6,157

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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
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Tabular disclosure of information about fair value of asset and liability not measured at fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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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)
-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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-Publisher FASB
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