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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table sets forth our assets and liabilities measured at fair value on a recurring basis as of:
Level 1Level 2Level 3
Quoted prices
in active
markets for
identical
assets
Significant
other
observable
inputs
Significant
unobservable
inputs
Total
Estimated
Fair
Value
September 30, 2023
Available-for-sale securities$52,853 $443,139 $— $495,992 
Loans held-for-sale— 51,465 — 51,465 
Mortgage servicing rights— — 81,036 81,036 
Derivative financial instruments - assets— 50,815 — 50,815 
Derivative financial instruments - liabilities— (31,593)— (31,593)
Total$52,853 $513,826 $81,036 $647,715 
December 31, 2022
Available-for-sale securities$56,649 $480,324 $— $536,973 
Loans held-for-sale— 57,323 — 57,323 
Mortgage servicing rights— — 74,097 74,097 
Derivative financial instruments - assets— 40,287 — 40,287 
Derivative financial instruments - liabilities— (24,527)— (24,527)
Total$56,649 $553,407 $74,097 $684,153 
Schedule of Reconciliation for Level 3 Assets Measured at Fair Value on a Recurring Basis
The following table presents a reconciliation for our Level 3 assets measured at fair value on a recurring basis:
For the three months ended
September 30,
For the nine months ended
September 30,
2023202220232022
Balance, beginning of period$78,390 $66,047 $74,097 $47,392 
Total (losses) gains included in earnings(44)4,314 (695)14,777 
Purchases, issuances, sales and settlements:
Issuances2,690 3,489 7,634 11,681 
Balance, end of period$81,036 $73,850 $81,036 $73,850 
Schedule of Assets and Liabilities Measured at Fair Value on a Non-recurring The following table sets forth our assets and liabilities that were measured at fair value on a non-recurring basis as of:
Level 3
September 30,
2023
December 31,
2022
Collateral dependent loans:
Commercial and industrial$7,197 $5,229 
Commercial real estate500 607 
Residential real estate1,230 802 
Consumer— 
Total collateral dependent loans$8,927 $6,641 
Other real estate owned and foreclosed assets, net:
Commercial real estate$7,428 $5,391 
Residential real estate967 967 
Total other real estate owned and foreclosed assets, net:$8,395 $6,358 
Schedule of Estimated Fair Values of Financial Instruments Not Carried at Fair Value
The carrying amounts and estimated fair values of financial instruments not carried at fair value are as follows as of:
Estimated Fair Value
Carrying
Value
TotalLevel 1Level 2Level 3
September 30, 2023
Assets:
Cash and cash equivalents$443,887 $443,887 $443,887 $— $— 
Securities held-to-maturity37,410 30,792 — 30,792 — 
Loans (excluding collateral dependent loans at fair value)6,170,595 6,036,398 — — 6,036,398 
Restricted equity securities35,396 35,396 — 35,396 — 
Accrued interest receivable37,218 37,218 — 2,328 34,890 
Liabilities:
Deposits (excluding demand deposits)$4,288,352 $4,273,238 $2,511,783 $1,761,455 $— 
Securities sold under agreements to repurchase25,868 25,868 — 25,868 — 
FHLB advances330,000 330,000 — 330,000 — 
Subordinated debt, net75,180 70,934 — 70,934 — 
Accrued interest payable9,862 9,862 — 9,862 — 
December 31, 2022
Assets:
Cash and cash equivalents$343,526 $343,526 $343,526 $— $— 
Securities held-to-maturity38,901 33,218 — 33,218 — 
Loans (excluding impaired loans)5,871,274 5,756,197 — — 5,756,197 
Restricted equity securities50,215 50,215 — 50,215 — 
Accrued interest receivable28,543 28,543 — 2,049 26,494 
Liabilities:
Deposits (excluding demand deposits)$3,732,215 $3,696,438 $— $3,696,438 $— 
Securities sold under agreements to repurchase36,721 36,721 — 36,721 — 
FHLB advances643,885 643,885 — 643,885 — 
Convertible notes payable, net5,355 5,329 — 5,329 — 
Subordinated debt, net74,880 71,618 — 71,618 — 
Accrued interest payable5,798 5,798 — 5,798 —