v3.26.3
Fair Value of Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Summary of Assets Measured on a Recurring Basis
The following table provides the fair values for assets and liabilities required to be measured and reported at fair value on a recurring basis on the Unaudited Consolidated Balance Sheets by level in the fair value hierarchy at September 30, 2026 and at December 31, 2025.
Recurring Fair Value Measurements at Reporting Date
September 30, 2026December 31, 2025
(Dollars in thousands)Level 1Level 2Level 1Level 2
Assets:
Available-for-sale investment securities:
Obligations of:
U.S. Treasury and government agencies
$16,985 $— $— $17,580 
 U.S. government sponsored agencies— 185,022 — 206,330 
States and political subdivisions
— 98,025 — 170,832 
Residential mortgage-backed securities— 453,661 — 544,038 
Commercial mortgage-backed securities— 48,572 — 41,804 
Bank-issued trust preferred securities— 2,854 — 3,783 
Total available-for-sale securities$16,985 $788,134 $— $984,367 
Equity investment securities (a)207 262 176 239 
Nonqualified deferred compensation (a) (b)6,713 — 6,074 — 
Derivative assets (c)— 21,695 — 9,708 
Liabilities:
Derivative liabilities (d)$— $21,120 $— $9,275 
(a)    Included in "Other investments" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 3 Investment Securities" of the Notes to the Unaudited Condensed Consolidated Financial Statements.
(b) Investments in the nonqualified deferred compensation plan consist of mutual funds.
(c)    Included in "Other assets" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 10 Derivative Financial Instruments" of the Notes to the Unaudited Condensed Consolidated Financial Statements.
(d)    Included in "Accrued expenses and other liabilities" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 10 Derivative Financial Instruments" of the Notes to the Unaudited Condensed Consolidated Financial Statements.
Summary of Assets and Liabilities Measured on a Non-Recurring Basis
The following table provides the fair values for each class of assets and liabilities required to be measured and reported at fair value on a non-recurring basis on the Unaudited Consolidated Balance Sheets by level in the fair value hierarchy at September 30, 2026 and at December 31, 2025.
Non-Recurring Fair Value Measurements at Reporting Date
September 30, 2026December 31, 2025
(Dollars in thousands)Level 2Level 3Level 2Level 3
Assets:
Collateral dependent loans$— $34,273 $— $7,738 
Loans held for sale (a)2,197 — 1,678 — 
Other real estate owned— 316 — — 
(a) Loans held for sale are presented gross of a valuation allowance of $109 and $57 at September 30, 2026 and at December 31, 2025, respectively.
Summary of Financial Instruments Not Required to be Measured at Fair Value
The following table provides the carrying amount for each class of assets and liabilities and the fair value for certain financial instruments that are not required to be measured or reported at fair value on the Unaudited Consolidated Balance Sheets.
Fair Value Measurements of Other Financial Instruments
(Dollars in thousands)Fair Value Hierarchy LevelSeptember 30, 2026December 31, 2025
Carrying AmountFair ValueCarrying AmountFair Value
Assets:
Cash and cash equivalents1$300,775 300,775 $188,951 $188,951 
Held-to-maturity investment securities:
   Obligations of:
U.S. government sponsored agencies2261,616 236,778 261,826 254,435 
States and political subdivisions (a)2138,405 104,169 140,843 115,657 
Residential mortgage-backed securities2381,224 345,888 423,628 413,123 
Commercial mortgage-backed securities297,064 79,591 96,776 84,499 
        Total held-to-maturity securities878,309 766,426 923,073 867,714 
Other investments:
Other investments at cost:
Federal Home Loan Bank ("FHLB") stock 342,617 42,617 30,843 30,843 
Federal Reserve Bank ("FRB") stock327,114 27,114 27,114 27,114 
Other investments (b)34,616 4,616 4,210 4,210 
Total other investments at cost74,347 74,347 62,167 62,167 
Loans and leases, net of deferred fees and costs (c)36,840,809 6,504,654 6,756,907 6,697,321 
Bank owned life insurance 2151,820 151,820 148,264 148,264 
Liabilities:
Deposits2$7,442,094 $6,016,507 $7,704,583 $6,660,991 
Short-term borrowings2704,120 704,063 435,926 435,923 
Long-term borrowings2155,054 164,834 204,138 222,323 
(a) Obligations of states and political subdivisions are presented gross of an allowance for credit losses of $233 and $236 at September 30, 2026 and at December 31, 2025, respectively.
(b)     "Other investments", as reported on the Unaudited Consolidated Balance Sheets, also included equity investment securities at September 30, 2026
and at December 31, 2025, which are reported in the "Assets and Liabilities Required to be Measured and Reported at Fair Value on a Recurring Basis"
table above and not included in this table.
(c) Loans and leases, net of deferred fees and costs, are presented gross of an allowance for credit losses of $75.7 million at both September 30, 2026 and December 31, 2025.