v3.26.1
Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Summary of Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis
The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):
Fair value at June 30, 2026TotalLevel 1Level 2Level 3
Marketable equity securities$2,665 $2,665 $— $— 
Debt securities available for sale:
Obligations of U.S. government and agencies1,097,211 — 1,097,211 — 
Obligations of states and political subdivisions219,136 — 219,136 — 
Corporate bonds989 — 989 — 
Asset backed securities245,315 — 245,315 — 
Non-agency mortgage backed securities133,018 — 133,018 — 
Loans held for sale1,880 — 1,880 — 
Mortgage servicing rights6,502 — — 6,502 
Total assets measured at fair value$1,706,716 $2,665 $1,697,549 $6,502 
Fair value at December 31, 2025TotalLevel 1Level 2Level 3
Marketable equity securities$2,692 $2,692 $— $— 
Debt securities available for sale:
Obligations of U.S. government and agencies1,064,028 — 1,064,028 — 
Obligations of states and political subdivisions220,686 — 220,686 — 
Corporate bonds4,958 — 4,958 — 
Asset backed securities269,520 — 269,520 — 
Non-agency mortgage backed securities172,739 — 172,739 — 
Loans held for sale2,695 — 2,695 — 
Mortgage servicing rights6,640 — — 6,640 
Total assets measured at fair value$1,743,958 $2,692 $1,734,626 $6,640 
Summary of Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis
The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands):
Three months ended June 30,Beginning
Balance		Transfers
into (out of)
Level 3		Change
Included
in Earnings		IssuancesEnding
Balance
2026: Mortgage servicing rights
$6,530 — $(174)$146 $6,502 
2025: Mortgage servicing rights
$6,614 — $(52)$201 $6,763 
Summary of Quantitative Information about Recurring Level 3 Fair Value Measurements
The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2026 and December 31, 2025:
As of June 30, 2026:Fair Value
(in thousands)		Valuation
Technique		Unobservable
Inputs		Range,
Weighted
Average
Mortgage Servicing Rights$6,502 Discounted cash flowConstant prepayment rate
6% - 13%; 7.4%
Discount rate
10% - 14%; 12%
As of December 31, 2025:
Mortgage Servicing Rights$6,640 Discounted cash flowConstant prepayment rate
6% - 12.0%; 7.0%
Discount rate
10% - 14%; 12%
Summary of Assets and Liabilities Measured at Fair Value on Nonrecurring Basis
The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated, that had a write-down or an additional allowance provided during the periods indicated (in thousands):
June 30, 2026TotalLevel 1Level 2Level 3
Fair value:
Collateral dependent loans$13,263 — — $13,263 
Foreclosed assets978 — — 978 
Total assets measured at fair value$14,241 — — $14,241 
December 31, 2025TotalLevel 1Level 2Level 3
Fair value:
Collateral dependent loans$7,545 — — $7,545 
Foreclosed assets3,562 — — 3,562 
Total assets measured at fair value$11,107 — — $11,107 

The tables below present the net (losses) gains resulting from non-recurring fair value adjustments of assets and liabilities for the periods indicated (in thousands):
Three months ended June 30,Six months ended June 30,
2026202520262025
Collateral dependent loans$1,891 $(2,485)$204 $(7,498)
Foreclosed assets(188)(3)(188)(3)
Total losses from non-recurring measurements$1,703 $(2,488)$16 $(7,501)
Summary of Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2026:
June 30, 2026Fair Value
(in thousands)		Valuation
Technique		Unobservable InputsRange,
Weighted Average
Collateral dependent loans$13,263 Sales comparison
approach
Income approach		Adjustment for differences between
comparable sales;
Capitalization rate		Not meaningful
N/A
Foreclosed assets (Land)$355 Sales comparison
approach
Adjustment for differences between
comparable sales;
Not meaningful
N/A
Foreclosed assets (SFR)$623 Sales comparison
approach
Adjustment for differences between
comparable sales;
Not meaningful
N/A
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2025:
December 31, 2025Fair Value
(in thousands)		Valuation
Technique		Unobservable InputsRange,
Weighted Average
Collateral dependent loans$7,545 Sales comparison
approach
Income approach		Adjustment for differences between
comparable sales;
Capitalization rate
Not meaningful
N/A
Foreclosed assets (Farmland)$2,928 Sales comparison
approach
Adjustment for differences between
comparable sales
Not meaningful
N/A
Foreclosed assets (SFR)$634 Sales comparison
approach		Adjustment for differences between
comparable sales
Not meaningful
N/A
Summary of Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets
June 30, 2026December 31, 2025
(in thousands)Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Financial assets:
Level 1 inputs:
Cash and due from banks$77,063 $77,063 $92,914 $92,914 
Cash at Federal Reserve and other banks28,158 28,158 64,100 64,100 
Level 2 inputs:
Securities held to maturity80,789 76,715 90,544 86,987 
Level 3 inputs:
Loans, net7,180,903 7,032,976 6,985,325 6,803,008 
Financial liabilities:
Level 2 inputs:
Demand, money market, and savings deposits7,225,819 7,225,819 7,153,859 7,153,859 
Time deposits1,143,011 1,142,439 1,110,042 1,109,820 
Other borrowings10,519 10,519 11,713 11,713 
Level 3 inputs:
Junior subordinated debt41,238 40,393 41,238 40,673