v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
The following tables summarize financial instruments measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:
 
March 31, 2026
($ in thousands)Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets
Securities available-for-sale
Obligations of U.S. Government-sponsored enterprises$— $158,346 $— $158,346 
Obligations of states and political subdivisions— 575,924 — 575,924 
Agency mortgage-backed securities— 1,868,590 — 1,868,590 
U.S. Treasury bills— 151,240 — 151,240 
Corporate debt securities— 19,567 — 19,567 
Total securities available-for-sale— 2,773,667 — 2,773,667 
Other investments— 3,102 — 3,102 
Derivative financial instruments— 9,829 — 9,829 
Total assets$— $2,786,598 $— $2,786,598 
Liabilities
Derivative financial instruments$— $9,222 $— $9,222 
Total liabilities$— $9,222 $— $9,222 

December 31, 2025
($ in thousands)Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets
Securities available-for-sale
Obligations of U.S. Government-sponsored enterprises$— $182,572 $— $182,572 
Obligations of states and political subdivisions— 572,705 — 572,705 
Agency mortgage-backed securities— 1,709,311 — 1,709,311 
U.S. Treasury bills— 170,984 — 170,984 
Corporate debt securities— 19,463 — 19,463 
Total securities available-for-sale— 2,655,035 — 2,655,035 
Other investments— 3,148 — 3,148 
Derivative financial instruments— 12,484 — 12,484 
Total assets$— $2,670,667 $— $2,670,667 
Liabilities
Derivative financial instruments$— $10,114 $— $10,114 
Total liabilities$— $10,114 $— $10,114 
From time to time, the Company measures certain assets at fair value on a nonrecurring basis. These include assets measured at the lower of cost or fair value that were recognized at fair value below cost at the end of the period. The following tables present financial instruments and non-financial assets still held as of the reporting date measured at fair value on a non-recurring basis:

March 31, 2026
($ in thousands)Total Fair ValueQuoted Prices in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
OREO7,762 — — 7,762 
December 31, 2025
($ in thousands)Total Fair ValueQuoted Prices in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Individually-evaluated loans$2,200 $— $— $2,200 
OREO81,544 — — 81,544 
Total$83,744 $— $— $83,744 

The following table is a summary of the carrying amounts and fair values of the Company’s financial instruments as of the dates presented:
 March 31, 2026December 31, 2025
($ in thousands)Carrying AmountEstimated fair valueLevelCarrying AmountEstimated fair valueLevel
Balance sheet assets    
Securities held-to-maturity, net$1,055,495 $1,003,521 Level 2$1,074,957 $1,039,814 Level 2
Other investments78,843 78,843 Level 277,737 77,737 Level 2
Loans held-for-sale418 418 Level 2928 928 Level 2
Loans, net11,550,716 11,564,404 Level 311,660,316 11,622,939 Level 3
State tax credits, held-for-sale10,422 10,836 Level 311,141 11,904 Level 3
Servicing asset3,306 5,194 Level 23,021 4,733 Level 2
Balance sheet liabilities    
Certificates of deposit$1,689,680 $1,685,777 Level 3$1,669,383 $1,665,449 Level 3
Subordinated debentures and notes93,759 91,862 Level 293,688 92,093 Level 2
Other borrowings319,345 297,318 Level 2387,717 364,901 Level 2

For information regarding the methods and assumptions used to estimate the fair value of each class of financial instruments refer to Note 17 – Fair Value Measurements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC.