Fair Value (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets Reported at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below (dollars in thousands):

	Fair Value Measurements at December 31, 2023, using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Realized Gain/(Loss)
Securities:
U.S. government agencies	$	—	$	102,749	$	—	$	102,749	$	—
Mortgage-backed securities		—		99,544		—		99,544		—
State and political subdivisions		—		194,206		—		194,206		—
Corporate bonds		—		—		52,040		52,040		—
Collateralized loan obligations		—		570,662		—		570,662		—
Total available-for-sale securities	$	—	$	967,161	$	52,040	$	1,019,201	$	—

	Fair Value Measurements at December 31, 2022, using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Realized Gain/(Loss)
Securities:
U.S. government agencies	$	—	$	50,599	$	—	$	50,599	$	—
Mortgage-backed securities		—		122,532		—		122,532		—
State and political subdivisions		—		205,980		—		205,980		—
Corporate bonds		—		—		57,435		57,435		—
Collateralized loan obligations		—		498,377		—		498,377		—
Total available-for-sale securities	$	—	$	877,488	$	57,435	$	934,923	$	—

Reconciliation of All Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)

The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2023 and 2022 (dollars in thousands):

	Collateralized Loan Obligations				Corporate Bonds
	2023		2022		2023		2022
Balance of recurring Level 3 assets at January 1,	$	—	$	195,707	$	57,435	$	27,530
Total gains or losses for the period:
Included in other comprehensive income		—		—		(5,395)		—
Purchases		—		—		—		29,905
Transfers out of Level 3		—		(195,707)		—		—
Balance of recurring Level 3 assets at December 31,	$	—	$	—	$	52,040	$	57,435

Schedule of Assets Reported at Fair Value on a Nonrecurring Basis

Assets and liabilities measured at fair market value on a non-recurring basis are summarized below (dollars in thousands):

	Year Ended December 31, 2023
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Collateral dependent loans	$	—	$	5,889	$	—	$	5,889

	Year Ended December 31, 2022
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Collateral dependent impaired loans	$	—	$	18,141	$	—	$	18,141

Schedule of Quantitative Information About Level 3 Fair Value Measurements

The following table present quantitative information about recurring level 3 fair value measurements at December 31, 2023 (dollars in thousands):

					Range
	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Min	Max	Weighted Average
Corporate Bonds	$	52,040	New issue pricing	Risk appetite	N/A	N/A	N/A
			Secondary market pricing	Market volatility
			Credit quality of issuer
			Credit spread

The following table presents quantitative information about recurring level 3 fair value measurements at December 31, 2022 (dollars in thousands):

					Range
	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Min	Max	Weighted Average
Corporate Bonds	$	57,435	New issue pricing	Risk appetite	N/A	N/A	N/A
			Secondary market pricing	Market volatility
			Credit quality of issuer
			Credit spread