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Fair Value Disclosures
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Disclosures Fair Value Disclosures
Fair Value Hierarchy
The Company uses fair value measurements to record fair value adjustments to certain financial and nonfinancial assets and liabilities and to determine fair value disclosures. Various financial instruments such as AFS and trading securities are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets and liabilities on a nonrecurring basis, such as loans, loans held for sale, mortgage servicing rights, and certain other investment securities. These nonrecurring fair value adjustments typically involve lower of cost or market accounting or write-downs of individual assets.
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, the Company uses various valuation techniques and assumptions when estimating fair value, which are in accordance with ASC 820. ASC 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:
•Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
•Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liabilities, either directly or indirectly (such as interest rates, yield curves, and prepayment speeds).
•Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value. These may be internally developed, using the Company's best information and assumptions that a market participant would consider.
The valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis are described in Note 16, “Fair Value Disclosures” to the Company's 2025 Annual Report on Form 10-K. There have been no significant changes in these methodologies since then.
Instruments Measured at Fair Value on a Recurring Basis
The following table presents assets and liabilities measured at fair value on a recurring basis (including items that are required to be measured at fair value) at June 30, 2026 and December 31, 2025. There were no transfers among levels during the first six months ended June 30, 2026 or the year ended December 31, 2025.
Fair Value
June 30,
2026		Fair value measurements at report date using
Quoted prices
in active
markets for
identical
assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
(dollars in thousands)
Assets:
Loans held for sale$27,751 $- $27,751 $- 
Available for sale investment securities:
U.S. government obligations and government-sponsored enterprises6,997,928 1,201,915 5,796,013 - 
Obligations of states and political subdivisions
14,312 - 14,312 - 
Other securities4,410 1,106 3,304 - 
Equity investments53,898 2,833 39,477 11,588 
Derivatives7,122 - 7,122 - 
Total assets$7,105,422 $1,205,855 $5,887,979 $11,588 
Liabilities:
Derivatives$5,958 $- $5,958 $- 
Total liabilities$5,958 $- $5,958 $- 
Fair value measurements at report date using
Fair Value
December 31,
2025		Quoted prices
in active
markets for
identical
assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
(dollars in thousands)
Assets:
Loans held for sale$54,119 $- $54,119 $- 
Available for sale investment securities:
U.S. government obligations and government-sponsored enterprises
6,349,320 928,287 5,421,033 - 
Obligations of states and political subdivisions
16,644 - 16,644 - 
Other securities
6,499 1,018 5,481 - 
Equity investments48,200 - 36,690 11,510 
Derivatives7,969 - 7,969 - 
Total assets$6,482,752 $929,305 $5,541,937 $11,510 
Liabilities:
Derivatives$7,021 $- $7,021 $- 
Total liabilities$7,021 $- $7,021 $- 
The following table provides the assets measured at fair value on a nonrecurring basis during the first six months of 2026 and 2025, and still held as of June 30, 2026 and 2025.
Fair value measurements at report date using
Fair Value
June 30,
2026		Quoted prices
in active
markets for
identical
assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
(dollars in thousands)
Assets:
Collateral dependent loans$31,450 $- $- $31,450 
Mortgage servicing rights63,405 - - 63,405 
Total assets$94,855 $- $- $94,855 
Fair value measurements at report date using
Fair Value
June 30,
2025		Quoted prices
in active
markets for
identical
assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
(dollars in thousands)
Assets:
Collateral dependent loans$23,560 $- $- $23,560 
Mortgage servicing rights61,299 - - 61,299 
Total assets$84,859 $- $- $84,859 
Fair Value of Financial Instruments
Fair value estimates are made at a specific point in time based on relevant market information. They do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for many of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, risk characteristics and economic conditions. These estimates are subjective, involve uncertainties, and cannot be determined with precision. Changes in assumptions could significantly affect the estimates.
The estimated fair values of the Company's financial assets and the classification of their fair value measurement within the valuation hierarchy are as follows at June 30, 2026 and December 31, 2025:
June 30, 2026
Carrying
amount		Estimated Fair Value
Level 1Level 2Level 3
(dollars in thousands)
Financial Assets:
Cash and due from banks$244,257 $244,257 $- $- 
Short-term interest-bearing deposits524,595 524,595 - - 
Interest-bearing deposits450 450 - - 
Investment securities
Available for sale7,016,650 1,203,022 5,813,628 - 
Held to maturity1,526 - 1,542 - 
Equity53,898 2,833 39,477 11,588 
Net loans held for investment11,523,199 - - 11,491,904 
Loans held for sale27,751 - 27,751 - 
Derivatives7,122 - 7,122 - 
Total assets$19,399,448 $1,975,157 $5,889,520 $11,503,492 
December 31, 2025
Carrying
amount		Estimated Fair Value
Level 1Level 2Level 3
(dollars in thousands)
Financial Assets
Cash and due from banks$258,588 $258,588 $- $- 
Short-term interest-bearing deposits1,805,555 1,805,555 - - 
Interest-bearing deposits1,039 - - 1,039 
Investment securities
Available for sale6,372,463 929,305 5,443,158 - 
Held to maturity1,689 - 1,023 677 
Equity48,200 - 36,690 11,510 
Net loans held for investment11,284,931 - - 11,285,348 
Loans held for sale54,119 - 54,119 - 
Derivatives7,969 - 7,969 - 
Total assets$19,834,553 $2,993,448 $5,542,959 $11,298,574 
The estimated fair values of the Company's financial liabilities and the classification of their fair value measurement within the valuation hierarchy are as follows at June 30, 2026 and December 31, 2025:
June 30, 2026
Carrying
amount		Estimated Fair Value
Level 1Level 2Level 3
(dollars in thousands)
Financial Liabilities
Federal funds purchased and customer repurchase agreements$913,127 $913,127 $- $- 
Accrued interest payable8,214 8,214 - - 
Derivatives5,958 - 5,958 - 
December 31, 2025
Carrying
amount		Estimated Fair Value
Level 1Level 2Level 3
(dollars in thousands)
Financial Liabilities
Federal funds purchased and customer repurchase agreements
$1,011,851 $1,011,851 $- $- 
Accrued interest payable9,306 9,306 - - 
Derivatives7,021 - 7,021 -