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FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of fair value measurement on recurring and nonrecurring basis segregated by level of valuation inputs within fair value hierarchy utilized to measure fair value

The following tables summarize assets measured at fair value on a recurring and nonrecurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):

			December 31, 2022
									Fair Value Measurements at the End of the Reporting Period Using
			Carrying Amount						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Recurring fair value measurements
Investment securities:
State and political subdivisions			$	964,852					$	—					$	964,852					$	—
Corporate bonds and other			8,704						—						8,704						—
MBS: (1)
Residential			315,027						—						315,027						—
Commercial			10,431						—						10,431						—
Equity investments:
Equity investments			5,235						5,235						—						—
Derivative assets:
Interest rate swaps			82,306						—						82,306						—
Total asset recurring fair value measurements			$	1,386,555					$	5,235					$	1,381,320					$	—
Derivative liabilities:
Interest rate swaps			$	21,217					$	—					$	21,217					$	—
Total liability recurring fair value measurements			$	21,217					$	—					$	21,217					$	—
Nonrecurring fair value measurements
Foreclosed assets			$	167					$	—					$	—					$	167
Collateral-dependent loans (2)			7,815						—						—						7,815
Total asset nonrecurring fair value measurements			$	7,982					$	—					$	—					$	7,982

			December 31, 2021
									Fair Value Measurements at the End of the Reporting Period Using
			Carrying Amount						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Recurring fair value measurements
Investment securities:
U.S. Treasury			$	58,877					$	58,877					$	—					$	—
State and political subdivisions			2,051,936						—						2,051,936						—
Corporate bonds and other			135,532						—						135,532						—
MBS: (1)
Residential			426,350						—						426,350						—
Commercial			91,630						—						91,630						—
Equity investments:
Equity investments			5,920						5,920						—						—
Derivative assets:
Interest rate swaps			18,231						—						18,231						—
Total asset recurring fair value measurements			$	2,788,476					$	64,797					$	2,723,679					$	—
Derivative liabilities:
Interest rate swaps			$	19,823					$	—					$	19,823					$	—
Total liability recurring fair value measurements			$	19,823					$	—					$	19,823					$	—
Nonrecurring fair value measurements
Collateral-dependent loans (2)			$	8,458					$	—					$	—					$	8,458
Total asset nonrecurring fair value measurements			$	8,458					$	—					$	—					$	8,458

(1)All MBS are issued and/or guaranteed by U.S. government agencies or U.S. GSEs.

(2)Consists of individually evaluated loans. Loans for which the fair value of the collateral and commercial real estate fair value of the properties is less than cost basis are presented net of allowance. Losses on these loans represent charge-offs which are netted against the allowance for loan losses.

Financial assets, financial liabilities, and unrecognized financial instruments at carrying amount and fair value

The following tables present our financial assets and financial liabilities measured on a nonrecurring basis at both their respective carrying amounts and estimated fair value (in thousands):

									Estimated Fair Value
December 31, 2022			Carrying Amount						Total						Level 1						Level 2						Level 3
Financial Assets:
Cash and cash equivalents			$	199,252					$	199,252					$	199,252					$	—					$	—
Investment securities:
HTM, at carrying value			1,190,108						1,023,376						—						1,023,376						—
MBS:
HTM, at carrying value			136,621						125,780						—						125,780						—
FHLB stock, at cost			9,190						9,190						—						9,190						—
Equity investments			5,946						5,946						—						5,946						—
Loans, net of allowance for loan losses			4,111,176						3,880,664						—						—						3,880,664
Loans held for sale			667						667						—						667						—
Financial Liabilities:
Deposits			$	6,198,019					$	6,158,517					$	—					$	6,158,517					$	—
Other borrowings			221,153						221,153						—						221,153						—
FHLB borrowings			153,358						140,976						—						140,976						—
Subordinated notes, net of unamortized debt issuance costs			98,674						91,357						—						91,357						—
Trust preferred subordinated debentures, net of unamortized debt issuance costs			60,265						60,594						—						60,594						—

									Estimated Fair Value
December 31, 2021			Carrying Amount						Total						Level 1						Level 2						Level 3
Financial assets:
Cash and cash equivalents			$	201,753					$	201,753					$	201,753					$	—					$	—
Investment securities:
HTM, at carrying value			788						791						—						791						—
MBS:
HTM, at carrying value			89,992						94,444						—						94,444						—
FHLB stock, at cost			14,375						14,375						—						14,375						—
Equity investments			5,921						5,921						—						5,921						—
Loans, net of allowance for loan losses			3,609,889						3,748,116						—						—						3,748,116
Loans held for sale			1,684						1,684						—						1,684						—
Financial liabilities:
Deposits			$	5,722,327					$	5,721,694					$	—					$	5,721,694					$	—
Other borrowings			23,219						23,219						—						23,219						—
FHLB borrowings			344,038						346,604						—						346,604						—
Subordinated notes, net of unamortized debt issuance costs			98,534						98,642						—						98,642						—
Trust preferred subordinated debentures, net of unamortized debt issuance costs			60,260						48,480						—						48,480						—

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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X

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- References

No definition available.

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