Fair Value Measurements (Tables)


	Total		Level 1		Level 2		Level 3
March 31, 2026
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	177,299	$	—	$	177,299	$	—
Mortgage-backed securities:
U.S. Government agencies	1,238,097		—		1,238,097		—
Private label	5,010		—		5,010		—
Trust preferred securities	4,397		—		4,397		—
Corporate securities	16,295		—		16,295		—
Marketable equity securities	5,575		1,765		3,810		—
Derivative assets	33,935		—		33,935		—
Financial Liabilities
Derivative liabilities	33,229		—		33,229		—

Nonrecurring fair value measurements
Financial Assets
Collateral-dependent individually evaluated loans	$	4,972	—		—		4,972
Non-Financial Assets
Other real estate owned	693		—		—		693

December 31, 2025
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	179,724	$	—	$	179,724	$	—
Mortgage-backed securities:
U.S. Government agencies	1,297,789		—		1,297,789		—
Private label	5,032		—		5,032		—
Trust preferred securities	4,424		—		4,424		—
Corporate securities	16,389		—		16,389		—
Marketable equity securities	5,568		1,757		3,811		—
Derivative assets	35,093		—		35,093		—
Financial Liabilities
Derivative liabilities	34,372		—		34,372		—

Nonrecurring fair value measurements
Financial Assets
Collateral-dependent individually evaluated loans	7,354		—		—		$	7,354
Non-Financial Assets
Other real estate owned	482		—		—		482

The following table represents the estimates of fair value of financial instruments (in thousands). For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as noninterest-bearing demand, interest-bearing demand and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.


	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
March 31, 2026
Assets:
Cash and cash equivalents	$	299,017	$	299,017	$	299,017	$	—	$	—
Securities available-for-sale	1,441,098		1,441,098		—		1,441,098		—
Marketable equity securities	5,575		5,575		1,765		3,810		—
Net loans	4,475,985		4,373,037		—		—		4,373,037
Accrued interest receivable	21,645		21,645		—		21,645		—
Derivative assets	33,935		33,935		—		33,935		—

Liabilities:
Deposits	5,343,604		5,334,841		4,033,468		1,301,373		—
Securities sold under agreements to repurchase	374,825		374,825		—		374,825		—
FHLB long-term advances	150,000		150,952		—		150,952		—
Accrued interest payable	5,684		5,684		—		5,684		—
Derivative liabilities	33,229		33,229		—		33,229		—

December 31, 2025
Assets:
Cash and cash equivalents	$	191,919	$	191,919	$	191,919	$	—	$	—
Securities available-for-sale	1,503,358		1,503,358		—		1,503,358		—
Marketable equity securities	5,568		5,568		1,757		3,811		—
Net loans	4,487,143		4,399,501		—		—		4,399,501
Accrued interest receivable	20,718		20,718		—		20,718		—
Derivative assets	35,093		35,093		—		35,093		—

Liabilities:
Deposits	5,300,988		5,292,774		3,997,627		1,295,147		—
Securities sold under agreements to repurchase	367,674		367,674		—		367,674		—
FHLB long-term advances	150,000		151,967		—		151,967		—
Accrued interest payable	5,842		5,842		—		5,842		—
Derivative liabilities	34,372		34,372		—		34,372		—