v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present assets and liabilities that are measured at fair value on a recurring basis as of the dates presented:
 
Level 1Level 2Level 3Totals
June 30, 2025
Financial assets:
Securities available for sale$— $2,471,487 $— $2,471,487 
Derivative instruments— 50,629 — 50,629 
Mortgage loans held for sale in loans held for sale— 356,791 — 356,791 
Total financial assets$— $2,878,907 $— $2,878,907 
Financial liabilities:
Derivative instruments:$— $46,204 $— $46,204 

Level 1Level 2Level 3Totals
December 31, 2024
Financial assets:
Securities available for sale$— $831,013 $— $831,013 
Derivative instruments— 38,954 — 38,954 
Mortgage loans held for sale in loans held for sale— 246,171 — 246,171 
Total financial assets$— $1,116,138 $— $1,116,138 
Financial liabilities:
Derivative instruments$— $32,268 $— $32,268 
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis The following tables provide the fair value measurement for assets measured at fair value on a nonrecurring basis that were still held on the Consolidated Balance Sheets as of the dates presented and the level within the fair value hierarchy each is classified:
 
June 30, 2025Level 1Level 2Level 3Totals
Individually evaluated loans, net of allowance for credit losses$— $— $42,838 $42,838 
OREO— — 3,151 3,151 
Total$— $— $45,989 $45,989 
 
December 31, 2024Level 1Level 2Level 3Totals
Individually evaluated loans, net of allowance for credit losses$— $— $38,374 $38,374 
OREO— — $3,666 3,666 
Total$— $— $42,040 $42,040 
Schedule of OREO Measured at Fair Value on a Nonrecurring Basis
The following table presents, as of the dates presented, OREO measured at fair value on a nonrecurring basis that was still held on the Consolidated Balance Sheets at period-end:
 
June 30,
2025		December 31, 2024
Carrying amount prior to remeasurement$3,736 $4,038 
Impairment recognized in results of operations(585)(372)
Fair value$3,151 $3,666 
Schedule of Significant Unobservable Inputs (Level 3) Used in Valuation of Assets and Liabilities Measured at Fair Value on Non Recurring Basis
The following table presents information as of June 30, 2025 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
 
Financial instrumentFair
Value		Valuation TechniqueSignificant
Unobservable Inputs		Range of Inputs
Individually evaluated loans, net of allowance for credit losses$42,838 Appraised value of collateral less estimated costs to sellEstimated costs to sell
4-10%
OREO$3,151 Appraised value of property less estimated costs to sellEstimated costs to sell
4-10%
Schedule of Differences Between Fair Value and Principal Balance for Mortgage Loans Held for Sale Measure at Fair Value
The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of June 30, 2025 and December 31, 2024:
 
Aggregate
Fair Value		Aggregate
Unpaid
Principal
Balance		Difference
June 30, 2025
Mortgage loans held for sale measured at fair value$356,791 $349,629 $7,162 
December 31, 2024
Mortgage loans held for sale measured at fair value$246,171 $244,218 $1,953 
Schedule of Assets and Liabilities Not Measured and Reported at Fair Value on a Recurring Basis or Nonrecurring Basis
The carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented:
 
  Fair Value
As of June 30, 2025Carrying
Value		Level 1Level 2Level 3Total
Financial assets
Cash and cash equivalents$1,378,612 $1,378,612 $— $— $1,378,612 
Securities held to maturity1,076,817 — 984,359 — 984,359 
Securities available for sale2,471,487 — 2,471,487 — 2,471,487 
Loans held for sale356,791 — 356,791 — 356,791 
Loans, net18,272,677 — — 18,123,260 18,123,260 
Mortgage servicing rights64,539 — — 80,772 80,772 
Derivative instruments50,629 — 50,629 — 50,629 
Financial liabilities
Deposits$21,582,637 $21,567,625 $— $21,567,625 
Short-term borrowings405,349 405,349 — — 405,349 
Junior subordinated debentures140,079 — 125,033 — 125,033 
Subordinated notes416,896 — 405,750 — 405,750 
Derivative instruments46,204 — 46,204 — 46,204 
 
  Fair Value
As of December 31, 2024Carrying
Value		Level 1Level 2Level 3Total
Financial assets
Cash and cash equivalents$1,092,032 $1,092,032 $— $— $1,092,032 
Securities held to maturity1,126,112 — 1,002,544 — 1,002,544 
Securities available for sale831,013 — 831,013 — 831,013 
Loans held for sale246,171 — 246,171 — 246,171 
Loans, net12,683,264 — — 12,340,638 12,340,638 
Mortgage servicing rights72,991 — — 96,290 96,290 
Derivative instruments38,954 — 38,954 — 38,954 
Financial liabilities
Deposits$14,572,612 $14,570,304 $— $14,570,304 
Short-term borrowings108,018 108,018 — — 108,018 
Junior subordinated debentures113,916 — 100,668 — 100,668 
Subordinated notes316,698 — 295,868 — 295,868 
Derivative instruments32,268 — 32,268 — 32,268