Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

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 December 31,:


	Level 1		Level 2		Level 3
	Quoted prices in active markets for identical assets		Significant other observable inputs		Significant unobservable inputs		Total Estimated Fair Value
2023
Available-for-sale securities	$	54,234	$	462,523	$	—	$	516,757
Loans held-for-sale	—		54,212		—		54,212
Mortgage servicing rights	—		—		76,701		76,701
Derivative financial instruments - assets	—		35,080		—		35,080
Derivative financial instruments - liabilities	—		(20,505)		—		(20,505)
Total	$	54,234	$	531,310	$	76,701	$	662,245
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 as of and for the years ended December 31,:


	2023		2022		2020
Balance, beginning of year	$	74,097	$	47,392	$	29,144
Total (losses) gains included in earnings	(6,649)		12,418		(5,606)
Purchases, issuances, sales and settlements:

Issuances	9,253		14,287		23,854


Balance, end of year	$	76,701	$	74,097	$	47,392

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 December 31,:


	Level 3
	2023		2022
Collateral dependent loans:
Commercial and industrial	$	2,756	$	5,229
Commercial real estate	—		607
Residential real estate	1,448		802

Consumer	—		3
Other	2,289		—
Total collateral dependent loans	$	6,493	$	6,641

Other real estate owned and foreclosed assets, net:

Commercial real estate	$	3,133	$	5,391
Residential real estate	967		967

Total other real estate owned and foreclosed assets, net:	$	4,100	$	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 December 31,:


			Estimated Fair Value
	Carrying Value		Total		Level 1		Level 2		Level 3
2023
Assets:
Cash and cash equivalents	$	479,362	$	479,362	$	479,362	$	—	$	—
Securities held-to-maturity	36,983		32,181		—		32,181		—
Loans (excluding collateral dependent loans at fair value)	6,260,603		6,121,749		—		—		6,121,749
Restricted equity securities	38,072		38,072		—		38,072		—
Accrued interest receivable	37,099		37,099		—		2,220		34,879

Liabilities:
Deposits (excluding demand deposits)	$	4,309,057	$	4,298,164	$	2,503,451	$	1,794,713	$	—
Securities sold under agreements to repurchase	24,693		24,693		—		24,693		—
FHLB advances	389,468		389,468		—		389,468		—


Subordinated debt, net	75,313		72,073		—		72,073		—
Accrued interest payable	13,580		13,580		—		13,580		—

2022
Assets:
Cash and cash equivalents	$	343,526	$	343,526	$	343,526	$	—	$	—
Securities held-to-maturity	38,901		33,218		—		33,218		—
Loans (excluding impaired loans)	5,871,274		5,756,197		—		—		5,756,197
Restricted equity securities	50,215		50,215		—		50,215		—
Accrued interest receivable	28,543		28,543		—		2,049		26,494

Liabilities:
Deposits (excluding demand deposits)	$	3,732,215	$	3,696,438	$	2,810,193	$	886,245	$	—
Securities sold under agreements to repurchase	36,721		36,721		—		36,721		—
FHLB advances	643,885		643,885		—		643,885		—

Convertible notes payable, net	5,355		5,329		—		5,329		—
Subordinated debt, net	74,880		71,618		—		71,618		—
Accrued interest payable	5,798		5,798		—		5,798		—