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Fair Value Measurement (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value | Assets and liabilities measured at fair value are summarized in the tables below.
|  | Fair Value Measurements at September 30, 2024 Using: |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets measured at fair value on a recurring basis: |  |  |  |  |  |  |  |  |
Securities available-for-sale |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | — |  |  | $ | 69,198 |  |  | $ | — |
Obligations of states and political subdivisions |  |  |  |  |  | 337,805 |  |  |  |
Mortgage-backed securities in government sponsored entities |  |  | — |  |  |  | 219,785 |  |  |  | — |
Total securities available-for-sale |  |  | — |  |  | $ | 626,788 |  |  |  | — |
Equity securities |  |  | — |  |  |  | 2,325 |  |  |  | — |
Swap asset |  |  | — |  |  |  | 8,196 |  |  |  | — |
Liabilities measured at fair value on a recurring basis: |  |  |  |  |  |  |  |  |
Swap liability |  | $ | — |  |  | $ | 8,196 |  |  | $ | — |
|  | Fair Value Measurements at December 31, 2023 Using: |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets measured at fair value on a recurring basis: |  |  |  |  |  |  |  |  |
Securities available-for-sale |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | — |  |  | $ | 67,658 |  |  | $ | — |
Obligations of states and political subdivisions |  |  | — |  |  |  | 338,599 |  |  |  | — |
Mortgage-backed securities in government sponsored entities |  |  | — |  |  |  | 212,015 |  |  |  | — |
Total securities available-for-sale |  |  | — |  |  |  | 618,272 |  |  |  | — |
Equity securities |  |  | — |  |  |  | 2,169 |  |  |  | — |
Swap asset |  |  | — |  |  |  | 12,481 |  |  |  | — |
Liabilities measured at fair value on a recurring basis: |  |  |  |  |  |  |  |  |
Swap liability |  | $ | — |  |  | $ | 12,481 |  |  | $ | — |
Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost | The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at September 30, 2024 were as follows:
September 30, 2024 |  | Carrying Amount |  |  | Total Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from financial institutions |  | $ | 74,662 |  |  | $ | 74,662 |  |  | $ | 74,662 |  |  | $ | — |  |  | $ | — |
Investments in time deposits |  |  | 1,450 |  |  |  | 1,455 |  |  |  | — |  |  |  | 1,455 |  |  |  | — |
Other securities |  |  | 32,633 |  |  |  | 32,633 |  |  |  | 32,633 |  |  |  | — |  |  |  | — |
Loans, held for sale |  |  | 8,299 |  |  |  | 8,299 |  |  |  | 8,299 |  |  |  | — |  |  |  | — |
Loans, net of allowance |  |  | 3,002,678 |  |  |  | 2,897,584 |  |  |  | — |  |  |  | — |  |  |  | 2,897,584 |
Accrued interest receivable |  |  | 13,614 |  |  |  | 13,614 |  |  |  | 13,614 |  |  |  | — |  |  |  | — |
Mortgage Servicing Rights |  |  | 2,939 |  |  |  | 2,939 |  |  |  |  |  |  |  |  |  | 2,939 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonmaturing deposits |  |  | 2,218,420 |  |  |  | 2,218,420 |  |  |  | 2,218,420 |  |  |  | — |  |  |  | — |
Time deposits |  |  | 1,005,312 |  |  |  | 1,006,317 |  |  |  | — |  |  |  | — |  |  |  | 1,006,317 |
Short-term FHLB advances |  |  | 287,047 |  |  |  | 287,046 |  |  |  | 287,046 |  |  |  | — |  |  |  | — |
Long-term FHLB advances |  |  | 1,598 |  |  |  | 1,544 |  |  |  | — |  |  |  | — |  |  |  | 1,544 |
Subordinated debentures |  |  | 104,067 |  |  |  | 98,694 |  |  |  | — |  |  |  | — |  |  |  | 98,694 |
Other borrowings |  |  | 6,319 |  |  |  | 6,319 |  |  |  | — |  |  |  | — |  |  |  | 6,319 |
Accrued interest payable |  |  | 15,163 |  |  |  | 15,163 |  |  |  | 15,163 |  |  |  | — |  |  |  | — |
The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at December 31, 2023 were as follows:
December 31, 2023 |  | Carrying Amount |  |  | Total Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from financial institutions |  | $ | 60,406 |  |  | $ | 60,406 |  |  | $ | 60,406 |  |  | $ | — |  |  | $ | — |
Investments in time deposits |  | $ | 1,225 |  |  |  | 1,215 |  |  |  | — |  |  |  | 1,215 |  |  |  | — |
Other securities |  |  | 29,998 |  |  |  | 29,998 |  |  |  | 29,998 |  |  |  | — |  |  |  | — |
Loans, held for sale |  |  | 1,725 |  |  |  | 1,725 |  |  |  | 1,725 |  |  |  | — |  |  |  | — |
Loans, net of allowance |  |  | 2,824,568 |  |  |  | 2,679,988 |  |  |  | — |  |  |  | — |  |  |  | 2,679,988 |
Accrued interest receivable |  |  | 12,819 |  |  |  | 12,819 |  |  |  | 12,819 |  |  |  | — |  |  |  | — |
Mortgage Servicing Rights |  |  | 3,018 |  |  |  | 3,018 |  |  |  | — |  |  |  | — |  |  |  | 3,018 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonmaturing deposits |  |  | 2,084,216 |  |  |  | 2,084,216 |  |  |  | 2,084,216 |  |  |  | — |  |  |  | — |
Time deposits |  |  | 900,812 |  |  |  | 899,443 |  |  |  | — |  |  |  | — |  |  |  | 899,443 |
Short-term FHLB advances |  |  | 338,000 |  |  |  | 337,267 |  |  |  | 337,267 |  |  |  | — |  |  |  | — |
Long-term FHLB advances |  |  | 2,392 |  |  |  | 2,419 |  |  |  | — |  |  |  | — |  |  |  | 2,419 |
Subordinated debentures |  |  | 103,943 |  |  |  | 101,563 |  |  |  | — |  |  |  | — |  |  |  | 101,563 |
Other borrowings |  |  | 9,859 |  |  |  | 9,859 |  |  |  | — |  |  |  | — |  |  |  | 9,859 |
Accrued interest payable |  |  | 9,525 |  |  |  | 9,525 |  |  |  | 9,525 |  |  |  | — |  |  |  | — |

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