v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented.
(in thousands)Fair Value Measurements Using
Measured at Fair Value on a Recurring Basis:TotalLevel 1Level 2Level 3
June 30, 2026
U.S. Treasury securities$284,702 $— $284,702 $— 
U.S. government agency securities26,777 — 26,777 — 
State, county and municipals350,226 — 349,644 582 
Mortgage-backed securities1,216,526 — 1,216,526 — 
Corporate debt securities128,732 — 122,527 6,205 
Securities AFS
$2,006,963 $— $2,000,176 $6,787 
Other investments (equity securities)$12,763 $12,763 $— $— 
Derivative assets$16,297 $— $16,063 $234 
Derivative liabilities$16,101 $— $16,069 $32 
December 31, 2025
U.S. Treasury securities$24,054 $— $24,054 $— 
U.S. government agency securities4,172 — 4,172 — 
State, county and municipals274,824 — 274,057 767 
Mortgage-backed securities496,781 — 496,781 — 
Corporate debt securities60,003 — 54,146 5,857 
Securities AFS
$859,834 $— $853,210 $6,624 
Other investments (equity securities)$9,505 $9,505 $— $— 
Derivative assets$610 $— $376 $234 
Derivative liabilities$450 $— $376 $74 
Schedule of Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis
The following table presents the changes in Level 3 securities AFS measured at fair value on a recurring basis.
(in thousands)Six Months EndedYear Ended
Level 3 Fair Value Measurements:June 30, 2026December 31, 2025
Balance at beginning of year$6,624 $7,625 
Transfer out(2,003)— 
Purchases (acquired with MidWestOne)
2,741 — 
Maturities / Paydowns(677)(1,099)
Unrealized gain / (loss)102 98 
Balance at end of period$6,787 $6,624 
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis
The following table presents the Company’s assets measured at fair value on a nonrecurring basis, aggregated by level in the fair value hierarchy within which those measurements fall.
(in thousands)Fair Value Measurements Using
Measured at Fair Value on a Nonrecurring Basis:TotalLevel 1Level 2Level 3
June 30, 2026
Collateral dependent loans$49,591 $— $— $49,591 
MSR asset (disclosure)27,307 — — 27,307 
December 31, 2025
Collateral dependent loans$27,426 $— $— $27,426 
MSR asset (disclosure)18,474 — — 18,474 
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments
The carrying amounts and estimated fair values of the Company’s financial instruments are shown below.
June 30, 2026
(in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$465,248 $465,248 $465,248 $— $— 
Securities AFS2,006,963 2,006,963 — 2,000,176 6,787 
Other investments, including equity securities116,575 116,560 12,763 83,981 19,816 
Loans held for sale19,388 19,786 — 19,786 — 
Other assets held for sale (loans)401,899 401,899 — — 401,899 
Loans, net10,714,580 10,499,054 — — 10,499,054 
MSR asset24,476 27,307 — — 27,307 
LSR asset4,416 4,416 — — 4,416 
Accrued interest receivable53,263 53,263 53,263 — — 
Financial liabilities:
Deposits$12,523,336 $12,514,031 $— $— $12,514,031 
Long-term borrowings92,750 85,725 — — 85,725 
Other liabilities held for sale (deposits)387,939 387,939 — — 387,939 
Accrued interest payable15,198 15,198 15,198 — — 
December 31, 2025
(in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$660,232 $660,232 $660,232 $— $— 
Securities AFS859,834 859,834 — 853,210 6,624 
Other investments63,247 63,241 9,505 43,233 10,503 
Loans held for sale13,620 13,935 — 13,935 — 
Loans, net6,767,539 6,627,011 — — 6,627,011 
MSR asset13,173 18,474 — — 18,474 
LSR asset5,152 5,152 — — 5,152 
Accrued interest receivable26,602 26,602 26,602 — — 
Financial liabilities:
Deposits$7,730,771 $7,737,106 $— $— $7,737,106 
Long-term borrowings134,860 131,840 — — 131,840 
Accrued interest payable8,672 8,672 8,672 — —