Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s available-for-sale securities, loans held-for-sale, and derivatives which are measured at fair value on a recurring basis as of December 31, 2024 and 2023 segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):

December 31, 2024	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Available-for-sale investment securities:
U.S. Treasury securities	$	273,562	$	—	$	—	$	273,562
Obligations of state and political subdivisions		—		1,440,245		—		1,440,245
Corporate bonds		—		101,238		—		101,238
Residential mortgage-backed securities		—		2,350,534		—		2,350,534
Commercial mortgage-backed securities		—		447,752		—		447,752
Other securities		4,428		—		—		4,428
Total	$	277,990	$	4,339,769	$	—	$	4,617,759
Loans held-for-sale	$	—	$	7,793	$	—	$	7,793
IRLCs	$	—	$	—	$	238	$	238
Forward mortgage-backed securities traded	$	—	$	84	$	—	$	84

December 31, 2023	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Available-for-sale investment securities:
U.S. Treasury securities	$	482,234	$	—		$	—	$	482,234
Obligations of state and political subdivisions		—		1,497,157			—		1,497,157
Corporate bonds		—		100,471			—		100,471
Residential mortgage-backed securities		—		2,364,092			—		2,364,092
Commercial mortgage-backed securities		—		284,324			—		284,324
Other securities		4,484		—			—		4,484
Total	$	486,718	$	4,246,044		$	—	$	4,732,762
Loans held-for-sale	$	—	$	11,077		$	—	$	11,077
IRLCs	$	—	$	—		$	427	$	427
Forward mortgage-backed securities traded	$	—	$	(288	)	$	—	$	(288	)

Summary of Loans Held-for-Sale at Fair Value

The following table summarizes the Company’s loans held-for-sale at fair value and the net unrealized gains as of the balance sheet dates shown below (in thousands):

	December 31,
	2024		2023
Unpaid principal balance on loans held-for-sale	$	7,636	$	10,757
Net unrealized gains on loans held-for-sale		157		320
Loans held-for-sale at fair value	$	7,793	$	11,077

Summary of Gain Loss on Sale of Mortgage Loans

The following table summarizes the Company’s gains on sale and fees of mortgage loans for the years ended December 31, 2024, 2023 and 2022 (in thousands):

	Years ended December 31,
	2024			2023			2022
Realized gain on sale and fees on mortgage loans*	$	13,170		$	12,116		$	20,357
Change in fair value on loans held-for-sale and IRLCs		(359	)		147			(1,554	)
Change in forward mortgage-backed securities trades		372			(373	)		232
Total gain on sale of mortgage loans	$	13,183		$	11,890		$	19,035

* This includes gain on loans held-for-sale carried under the fair value method and lower of cost or market.

Schedule of Estimated Fair Values and Carrying Values of All Financial Instruments

The estimated fair values and carrying values of all financial instruments under current authoritative guidance at December 31, 2024 and 2023, were as follows (in thousands):

	2024				2023
	Carrying		Estimated		Carrying			Estimated			Fair Value
	Value		Fair Value		Value			Fair Value			Hierarchy
Cash and due from banks	$	259,996	$	259,996	$	281,354		$	281,354		Level 1
Interest-bearing demand deposits in banks		503,417		503,417		255,237			255,237		Level 1
Available-for-sale securities		4,617,759		4,617,759		4,732,762			4,732,762		Levels 1 and 2
Loans held-for-investment, net of allowance for    credit losses		7,814,773		7,806,258		7,060,057			7,036,722		Level 3
Loans held-for-sale		8,235		8,276		14,253			14,378		Level 2
Accrued interest receivable		60,749		60,749		58,544			58,544		Level 2
Deposits with stated maturities		917,276		919,774		938,980			938,534		Level 2
Deposits with no stated maturities		11,181,898		11,181,898		10,199,320			10,199,320		Level 1
Repurchase Agreements		61,416		61,416		381,928			381,928		Level 2
Borrowings		135,603		135,603		22,153			22,153		Level 2
Accrued interest payable		6,909		6,909		10,215			10,215		Level 2
IRLCs		238		238		427			427		Level 3
Forward mortgage-backed securities trades		84		84		(288	)		(288	)	Level 2