v3.25.4
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table sets forth our assets and liabilities measured at fair value on a recurring basis as of December 31,:
Level 1Level 2Level 3
Quoted prices
in active
markets for
identical
assets
Significant
other
observable
inputs
Significant
unobservable
inputs
Total
Estimated
Fair
Value
2025
Available-for-sale securities$33,270 $435,700 $— $468,970 
Loans held-for-sale— 100,539 — 100,539 
Mortgage servicing rights— — 86,651 86,651 
Derivative financial instruments - assets— 22,384 — 22,384 
Derivative financial instruments - liabilities— (15,531)— (15,531)
Total$33,270 $543,092 $86,651 $663,013 
2024
Available-for-sale securities$31,730 $437,346 $— $469,076 
Loans held-for-sale— 61,825 — 61,825 
Mortgage servicing rights— — 84,258 84,258 
Derivative financial instruments - assets— 36,088 — 36,088 
Derivative financial instruments - liabilities— (22,863)— (22,863)
Total$31,730 $512,396 $84,258 $628,384 
Schedule of Reconciliation for Level 3 Assets Measured at Fair Value on a Recurring Basis
The following table presents a reconciliation for our Level 3 assets measured at fair value on a recurring basis as of and for the years ended December 31,:
202520242023
Balance, beginning of year$84,258 $76,701 $74,097 
Total fair value adjustments included in earnings(12,191)(4,714)(6,649)
Purchases, issuances, sales and settlements:
Issuances14,584 12,271 9,253 
Balance, end of year$86,651 $84,258 $76,701 
Schedule of Assets and Liabilities Measured at Fair Value on a Non-recurring
The following table sets forth our assets and liabilities that were measured at fair value on a non-recurring basis as of December 31,:
Level 3
20252024
Collateral dependent loans:
Commercial and industrial$6,783 $12,430 
Commercial real estate3,515 — 
Residential real estate1,875 1,255 
Public finance— 5,766 
Other— 2,232 
Total collateral dependent loans$12,173 $21,683 
Other real estate owned and foreclosed assets, net:
Commercial real estate$8,960 $2,911 
Residential real estate880 2,227 
Other1,674 — 
Total other real estate owned and foreclosed assets, net:$11,514 $5,138 
Schedule of Estimated Fair Values of Financial Instruments Not Carried at Fair Value
The carrying amounts and estimated fair values of financial instruments not carried at fair value are as follows as of December 31,:
Estimated Fair Value
Carrying
Value
TotalLevel 1Level 2Level 3
2025
Assets:
Cash and cash equivalents$652,592 $652,592 $652,592 $— $— 
Securities held-to-maturity33,839 29,446 — 29,446 — 
Loans (excluding collateral dependent loans)6,613,099 6,544,724 — — 6,544,724 
Restricted equity securities24,775 24,775 — 24,775 — 
Accrued interest receivable32,255 32,255 — 2,224 30,031 
Liabilities:
Deposits (excluding demand deposits)$4,645,527 $4,602,421 $3,315,648 $1,286,773 $— 
Securities sold under agreements to repurchase11,160 11,160 — 11,160 — 
FHLB advances— — — — — 
Subordinated debt, net36,680 35,981 — — 35,981 
Accrued interest payable6,680 6,680 — 6,680 — 
2024
Assets:
Cash and cash equivalents$615,917 $615,917 $615,917 $— $— 
Securities held-to-maturity35,242 29,563 — 29,563 — 
Loans (excluding collateral dependent loans)6,344,377 6,191,461 — — 6,191,461 
Restricted equity securities28,917 28,917 — 28,917 — 
Accrued interest receivable32,102 32,102 — 2,131 29,971 
Liabilities:
Deposits (excluding demand deposits)$4,445,237 $4,436,305 $2,879,662 $1,556,643 $— 
Securities sold under agreements to repurchase14,699 14,699 — 14,699 — 
FHLB advances135,000 135,000 — 135,000 — 
Subordinated debt, net75,841 73,326 — — 73,326 
Accrued interest payable8,705 8,705 — 8,705 —