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Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements, Recurring and Nonrecurring

Assets and liabilities measured at fair value, including financial assets for which we have elected the fair value option, were as follows:

									Fair Value Measurements Using
			Fair Value Measure- ments						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Un- observable Inputs (Level 3)
			(In thousands)
September 30, 2025:
Measured at Fair Value on a Recurring Basis
Assets
Securities available for sale
U.S. agency			$	8,071					$	—					$	8,071					$	—
U.S. agency residential mortgage-backed			78,196						—						78,196						—
U.S. agency commercial mortgage-backed			7,455						—						7,455						—
Private label mortgage-backed			41,936						—						41,936						—
Other asset backed			32,129						—						32,129						—
Obligations of states and political subdivisions			279,615						—						279,615						—
Corporate			54,200						—						54,200						—
Trust preferred			981						—						981						—
Loans held for sale			11,654						—						11,654						—
Capitalized mortgage loan servicing rights			31,522						—						—						31,522
Derivatives (1)			32,106						—						32,106						—
Liabilities
Derivatives (2)			20,729						—						20,729						—
Measured at Fair Value on a Non-recurring Basis:
Assets
Collateral dependent loans (3)
Commercial
Commercial and industrial			8,386						—						—						8,386
Commercial real estate			10,892						—						—						10,892
Mortgage
1-4 family owner occupied - non-jumbo			661						—						—						661
1-4 family non-owner occupied			9						—						—						9
1-4 family - 2nd lien			198						—						—						198
Resort lending			37						—						—						37
Installment
Boat lending			205						—						—						205
Recreational vehicle lending			139						—						—						139
Other			57						—						—						57

________________________________

(1)Included in accrued income and other assets

(2)Included in accrued expenses and other liabilities

(3)Only includes individually evaluated loans with specific allocations of the ACL based on collateral value.

									Fair Value Measurements Using
			Fair Value Measure- ments						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Un- observable Inputs (Level 3)
			(In thousands)
December 31, 2024:
Measured at Fair Value on a Recurring Basis
Assets
Securities available for sale
U.S. agency			$	8,159					$	—					$	8,159					$	—
U.S. agency residential mortgage-backed			71,137						—						71,137						—
U.S. agency commercial mortgage-backed			11,641						—						11,641						—
Private label mortgage-backed			70,035						—						70,035						—
Other asset backed			38,516						—						38,516						—
Obligations of states and political subdivisions			288,791						—						288,791						—
Corporate			69,921						—						69,921						—
Trust preferred			982						—						982						—
Loans held for sale			7,643						—						7,643						—
Capitalized mortgage loan servicing rights			46,796						—						—						46,796
Derivatives (1)			37,059						—						37,059						—
Liabilities
Derivatives (2)			18,623						—						18,623						—
Measured at Fair Value on a Non-recurring Basis:
Assets
Collateral dependent loans (3)
Commercial
Commercial and industrial			4,205						—						—						4,205
Commercial real estate			132						—						—						132
Mortgage
1-4 family owner occupied - non-jumbo			627						—						—						627
1-4 family - 2nd lien			170						—						—						170
Resort lending			92						—						—						92
Installment
Boat lending			56						—						—						56
Recreational vehicle lending			172						—						—						172
Other			59						—						—						59

_________________________________

(1)Included in accrued income and other assets

(2)Included in accrued expenses and other liabilities

(3)Only includes individually evaluated loans with specific allocations of the ACL based on collateral value.

Schedule of Fair Value Option, Disclosures

Changes in fair values for financial assets which we have elected the fair value option for the periods presented were as follows:

			Changes in Fair Values for the Nine Month Periods Ended September 30 for items Measured at Fair Value Pursuant to Election of the Fair Value Option
			Net Gains (losses) on Assets						Mortgage Loan Servicing, net						Total Change in Fair Values Included in Current Period Earnings
			Mortgage Loans
			(In thousands)
2025
Loans held for sale			$	38					$	—					$	38
Capitalized mortgage loan servicing rights			—						(4,984)						(4,984)
2024
Loans held for sale			215						—						215
Capitalized mortgage loan servicing rights			—						(4,995)						(4,995)

Schedule of Reconciliation for all Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)

A reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follows:

			Capitalized Mortgage Loan Servicing Rights
			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(In thousands)												(In thousands)
Beginning balance			$	32,053					$	44,406					$	46,796					$	42,243
Total gains (losses) realized and unrealized:
Included in results of operations			(1,479)						(5,378)						(4,984)						(4,995)
Included in results of operations - gain on sale(1)			(61)						—						(233)						—
Included in other comprehensive loss			—						—						—						—
Purchases, issuances, settlements, maturities and calls			948						1,176						2,766						2,956
Sales(1)			61						—						(12,823)						—
Transfers in and/or out of Level 3			—						—						—						—
Ending balance			$	31,522					$	40,204					$	31,522					$	40,204
Amount of total losses for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at September 30			$	(1,479)					$	(5,378)					$	(4,984)					$	(4,995)

(1)     On January 31, 2025 we sold $931.6 million of mortgage loan servicing rights (26.3% of total servicing portfolio) and transferred the servicing on March 3, 2025. This sale represented approximately $13.1 million (27.9%) of the total capitalized mortgage loan servicing right asset. While there remains a customary hold back of final settlement funds of approximately $0.6 million relating to this transaction, we are not aware of any issues that will have a material impact on this final payment. We have until the first quarter, 2026 to receive this final payment. Transaction expenses relating to this sale were approximately $0.2 million and was expensed during the first nine months of 2025.

Schedule of Fair Value Measurement Inputs and Valuation Techniques (Level 3)

Quantitative information about our Level 3 fair value measurements measured on a recurring basis follows:

			Asset Fair Value						Valuation Technique						Unobservable Inputs						Range						Weighted Average
			(In thousands)
September 30, 2025
Capitalized mortgage loan servicing rights			$	31,522					Present value of net servicing revenue						Discount rate						9.50% to 31.06%						9.93		%
															Cost to service						$69 to $817						$	80
															Ancillary income						20 to 30						21
															Float rate						3.68		%				3.68		%
															Prepayment rate						5.39% to 32.90%						9.80		%
December 31, 2024
Capitalized mortgage loan servicing rights			$	46,796					Present value of net servicing revenue						Discount rate						10.00% to 19.15%						10.37		%
															Cost to service						$70 to $817						$	79
															Ancillary income						20 to 30						20
															Float rate						4.33		%				4.33		%
															Prepayment rate						5.40% to 28.28%						7.54%

Quantitative information about Level 3 fair value measurements measured on a non-recurring basis follows:

Asset Fair Value

Valuation Technique

Unobservable Inputs

Range

Weighted Average

(In thousands)

September 30, 2025

Collateral dependent loans

Commercial

$

7,272

Discounting financial statement and machinery and equipment appraised values

Discount rates used

40.0% to 70.0%

48.0

%

12,006

Sales comparison approach

Adjustment for differences between comparable sales

(18.0) to 42.0

(1.0)

Mortgage and Installment(1)

1,306

Sales comparison approach

Adjustment for differences between comparable sales

(28.0) to 16.9

(1.6)

December 31, 2024

Collateral dependent loans

Commercial

$

3,478

Discounting financial statement and machinery and equipment appraised values

Discount rates used

45.0% to 55.0%

50.5

%

859

Sales comparison approach

Adjustment for differences between comparable sales

(20.0) to 35.0

(1.4)

Mortgage and Installment(1)

1,176

Sales comparison approach

Adjustment for differences between comparable sales

(22.0) to 21.7

(0.4)

(1) In addition to the valuation techniques and unobservable inputs discussed above, at September 30, 2025 and December 31, 2024 certain collateral dependent installment loans totaling approximately $0.40 million and $0.29 million, respectively, are secured by collateral other than real estate. For the majority of these loans, we apply internal discount rates to industry valuation guides.

Schedule of Aggregate Fair Value and Aggregate Remaining Contractual Principal Balance for Loans Held for Sale

The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding for loans held for sale for which the fair value option has been elected for the periods presented.

			Aggregate Fair Value						Difference						Contractual Principal
			(In thousands)
Loans held for sale
September 30, 2025			$	11,654					$	116					$	11,538
December 31, 2024			7,643						78						7,565

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