v3.25.2
FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Summary of Fair Value Measurements of Assets and Liabilities Recognized in the Balance Sheets Measured at Fair Value on Recurring Basis
The following table presents the fair value measurements of assets and liabilities recognized in the accompanying balance sheets on a recurring basis, along with their classification within the fair value hierarchy as of June 30, 2025, and December 31, 2024.

  Fair Value Measurements Using:
June 30, 2025Fair ValueQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Available for sale securities:    
U.S. Government-sponsored agency securities$78,239 $— $78,239 $— 
State and municipal840,013 — 837,848 2,165 
U.S. Government-sponsored mortgage-backed securities429,461 — 429,461 — 
Corporate obligations10,417 — 10,386 31 
Derivative assets57,560 — 57,560 — 
Derivative liabilities56,552 — 56,552 — 


  Fair Value Measurements Using:
December 31, 2024Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Available for sale securities:    
U.S. Government-sponsored agency securities$79,381 $— $79,381 $— 
State and municipal863,174 — 860,793 2,381 
U.S. Government-sponsored mortgage-backed securities431,622 — 431,618 4 
Corporate obligations12,298 — 12,267 31 
Derivative assets77,133 — 77,133 — 
Derivative liabilities76,568 — 76,568 — 
Summary of Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Recognized in the Balance Sheets using Significant Unobservable Level 3 Inputs
The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying
balance sheets using significant unobservable Level 3 inputs for the three and six months ended June 30, 2025 and 2024.
 Available for Sale Securities
Three Months EndedSix Months Ended
 June 30, 2025June 30, 2024June 30, 2025June 30, 2024
Balance at beginning of the period$2,182 $3,247 $2,416 $3,310 
Included in other comprehensive income16 (21)9 11 
Principal payments(2)(2)(229)(97)
Ending balance $2,196 $3,224 $2,196 $3,224 
Summary of Description of Valuation Methodologies Used for Instruments Measured at Fair Value on a Non-Recurring Basis and Recognized in the Balance Sheets
Following is a description of valuation methodologies used for instruments measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy at June 30, 2025, and December 31, 2024.
Fair Value Measurements Using
June 30, 2025Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant Unobservable
Inputs
(Level 3)
Collateral dependent loans$66,469 $— $— $66,469 


Fair Value Measurements Using
December 31, 2024Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable
 Inputs
(Level 2)		Significant Unobservable
Inputs
(Level 3)
Collateral dependent loans$46,810 $— $— $46,810 
Summary of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements Other than Goodwill
The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at June 30, 2025 and December 31, 2024.

June 30, 2025Fair ValueValuation TechniqueUnobservable InputsRange (Weighted-Average)
State and municipal securities$2,165 Discounted cash flowMaturity/Call date
1 month to 5 years
   US Muni BQ curve
BBB
   Discount rate
3.7% - 5.6%
Weighted-average coupon
3.6%
Corporate obligations $31 Discounted cash flowRisk free rate
3 month CME Term SOFR plus 26bps
   plus premium for illiquidity (basis points)
plus 200bps
Weighted-average coupon
0%
Collateral dependent loans$66,469 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability
0% - 16%
  Weighted-average discount by loan balance
1.1%
December 31, 2024Fair ValueValuation TechniqueUnobservable InputsRange (Weighted-Average)
State and municipal securities$2,381 Discounted cash flowMaturity/Call date
1 month to 6 years
  US Muni BQ curve
BBB
  Discount rate
3.6% - 4.7%
Weighted-average coupon
3.6%
Corporate obligations and U.S. Government-sponsored mortgage-backed securities$35 Discounted cash flowRisk free rate
3 month CME Term
SOFR plus 26bps
   plus premium for illiquidity (basis points)
plus 200bps
Weighted-average coupon
0%
Collateral dependent loans$46,810 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability
0% - 16%
Weighted-average discount by loan balance
12.6%
Summary of Estimated Fair Values of Financial Instruments
The following tables present estimated fair values of the Corporation’s financial instruments not carried at fair value and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2025 and December 31, 2024.

June 30, 2025
Quoted Prices in Active Markets
for Identical
Assets		Significant
Other
Observable
Inputs		Significant Unobservable
Inputs
Carrying Amount(Level 1)(Level 2)(Level 3)Total Fair Value
Assets:
Cash and due from banks$81,567 $81,567 $— $— $81,567 
Interest-bearing deposits223,343 223,343 — — 223,343 
Investment securities held to maturity, net of allowance for credit losses2,022,826 — 1,682,022 5,218 1,687,240 
Loans held for sale28,783 — 28,783 — 28,783 
Net loans13,101,443 — — 12,938,362 12,938,362 
Federal Home Loan Bank stock47,290 — 47,290 — 47,290 
Interest receivable93,258 — 93,258 — 93,258 
Liabilities:
Deposits$14,797,578 $12,783,354 $2,009,119 $— 14,792,473 
Borrowings:
Securities sold under repurchase agreements114,758 — 114,750 — 114,750 
Federal Home Loan Bank advances898,702 — 902,797 — 902,797 
Subordinated debentures and other borrowings62,617 — 58,539 — 58,539 
Interest payable16,174 — 16,174 — 16,174 
December 31, 2024
Quoted Prices in Active Markets
for Identical
Assets		Significant
Other
Observable
Inputs		Significant Unobservable
Inputs
Carrying Amount(Level 1)(Level 2)(Level 3)Total Fair Value
Assets:
Cash and due from banks$87,616 $87,616 $— $— $87,616 
Interest-bearing deposits298,891 298,891 — — 298,891 
Investment securities held to maturity, net2,074,220 — 1,716,647 6,873 1,723,520 
Loans held for sale18,663 — 18,663 — 18,663 
Net loans12,661,602 — — 12,437,523 12,437,523 
Federal Home Loan Bank stock41,690 — 41,690 — 41,690 
Interest receivable91,829 — 91,829 — 91,829 
Liabilities:
Deposits$14,521,626 $12,502,819 $2,010,348 $— 14,513,167 
Borrowings:
Securities sold under repurchase agreements142,876 — 142,865 — 142,865 
Federal Home Loan Bank advances822,554 — 816,786 — 816,786 
Subordinated debentures and other borrowings93,529 — 84,108 — 84,108 
Interest payable16,102 — 16,102 — 16,102