v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):
Fair Value Measurements at March 31, 2026, Using:
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs
(Level 1)(Level 2)(Level 3)Total
Financial assets
Investment Securities
U.S. Treasuries and government agencies$149,463 $— $— $149,463 
Obligations of states and municipalities— 990,269 — 990,269 
Residential mortgage backed - agency— 57,375 — 57,375 
Residential mortgage backed - non-agency— 372,486 — 372,486 
Commercial mortgage backed - agency— 71,684 — 71,684 
Commercial mortgage backed - non-agency— 98,377 — 98,377 
Asset-backed— 50,300 — 50,300 
Other— 36,083 — 36,083 
Total investment securities available-for-sale$149,463 $1,676,574 $— $1,826,037 
Loans held-for-sale$— $— $— $— 
Equity investments$— $13,919 $— $13,919 
Derivatives$— $3,036 $— $3,036 
Financial liabilities
Derivatives$— $1,452 $— $1,452 
Fair Value Measurements at December 31, 2025, Using:
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs
(Level 1)(Level 2)(Level 3)Total
Financial assets
Investment Securities
U.S. Treasuries and government agencies$150,124 $— $— $150,124 
Obligations of states and municipalities— 922,574 — 922,574 
Residential mortgage backed - agency— 55,385 — 55,385 
Residential mortgage backed - non-agency— 218,092 — 218,092 
Commercial mortgage backed - agency— 73,896 — 73,896 
Commercial mortgage backed - non-agency— 111,109 — 111,109 
Asset-backed— 53,466 — 53,466 
Other— 31,308 — 31,308 
Total investment securities available-for-sale$150,124 $1,465,830 $— $1,615,954 
Loans held-for-sale$— $365 $— $365 
Equity investments$— $14,201 $— $14,201 
Derivatives$— $2,604 $— $2,604 
Financial liabilities
Derivatives$— $2,671 $— $2,671 
Schedule of Fair Value Measurements, Nonrecurring
Assets that were measured at fair value on a non-recurring basis during the period are summarized below (in thousands):
Fair Value Measurements at March 31, 2026, Using:
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs
(Level 1)(Level 2)(Level 3)Total
Collateral dependent loans
Commercial real estate$— $— $15,820 $15,820 
Owner-occupied commercial real estate— — 328 328 
Acquisition, construction & development— — 5,804 5,804 
Commercial & industrial— — 194 194 
Single family residential— — 633 633 
Consumer non-real estate and other— — — — 
Other real estate owned— — 3,106 3,106 
Fair Value Measurements at December 31, 2025, Using:
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs
(Level 1)(Level 2)(Level 3)Total
Collateral dependent loans
Commercial real estate$— $— $10,377 $10,377 
Owner-occupied commercial real estate— — — — 
Acquisition, construction & development— — 2,640 2,640 
Commercial & industrial— — 213 213 
Single family residential— — 223 223 
Consumer non-real estate and other— — — — 
Other real estate owned— — 2,689 2,689 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following table presents quantitative information about Level 3 Fair Value Measurements for assets measured at fair value on a non-recurring basis at March 31, 2026, and December 31, 2025 (in thousands except for percentages):
DescriptionFair ValueValuation TechniquesUnobservable InputsRange
March 31, 2026
Collateral dependent loans$22,779 Appraisal of collateralManagement adjustments (e.g., liquidity, selling costs, etc.)
5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs
Other real estate owned3,106 Appraisal of collateralManagement adjustments (e.g., liquidity, selling costs, etc.)
5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs
December 31, 2025
Collateral dependent loans$13,453 Appraisal of collateralManagement adjustments (e.g., liquidity, selling costs, etc.)
5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs
Other real estate owned2,689 Appraisal of collateralManagement adjustments (e.g., liquidity, selling costs, etc.)
5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs
Schedule of Fair Value Disclosure of Asset and Liability not Measured at Fair Value
The carrying amounts and estimated fair values of financial instruments not carried at fair value, at March 31, 2026, and December 31, 2025, were as follows (in thousands):
Fair Value Measurements at March 31, 2026, Using:
Carrying AmountQuoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs
(Level 1)(Level 2)(Level 3)Total
Financial Assets
Cash and due from banks$53,940 $53,940 $— $— $53,940 
Interest-earning deposits with banks15,652 15,652 — — 15,652 
Loans, net5,336,712 — — 5,312,163 5,312,163 
Accrued interest37,625 — 37,625 — 37,625 
Financial Liabilities
Non-interest-bearing deposits$1,367,050 $— $1,367,050 $— $1,367,050 
Interest-bearing deposits4,965,215 — 4,959,923 — 4,959,923 
Short-term borrowings525,000 — 523,406 — 523,406 
Subordinated debentures, net71,510 — 68,093 — 68,093 
Subordinated debentures owed to unconsolidated subsidiary trusts17,331 — 16,438 — 16,438 
Accrued interest6,637 — 6,637 — 6,637 
Fair Value Measurements at December 31, 2025, Using:
Carrying AmountQuoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs
(Level 1)(Level 2)(Level 3)Total
Financial Assets
Cash and due from banks$53,497 $53,497 $— $— $53,497 
Interest-bearing deposits with banks235,630 235,630 — — 235,630 
Loans, net5,319,853 — — 5,284,210 5,284,210 
Accrued interest35,442 — 35,442 — 35,442 
Financial Liabilities
Non-interest-bearing deposits$1,336,380 $— $1,336,380 $— $1,336,380 
Interest-bearing deposits5,067,561 — 5,062,925 — 5,062,925 
Short-term borrowings450,000 — 450,005 — 450,005 
Subordinated debentures, net70,222 — 70,800 — 70,800 
Subordinated debentures owed to unconsolidated subsidiary trusts17,268 — 16,494 — 16,494 
Accrued interest4,447 — 4,447 — 4,447