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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis The tables below summarize financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy of ASC Topic 820 utilized to measure fair value.
Level 1 InputsLevel 2 InputsLevel 3 InputsTotal Fair Value
September 30, 2024
Securities available for sale:
U.S. Treasury$3,987,746 $— $— $3,987,746 
Residential mortgage-backed securities— 6,692,663 — 6,692,663 
States and political subdivisions— 4,596,560 — 4,596,560 
Other— 43,074 — 43,074 
Trading account securities:
U.S. Treasury32,261 — — 32,261 
States and political subdivisions— 92 — 92 
Derivative assets:
Interest rate swaps, caps, and floors— 76,790 — 76,790 
Commodity swaps and options— 64,082 — 64,082 
Derivative liabilities:
Interest rate swaps, caps, and floors— 76,706 — 76,706 
Commodity swaps and options— 62,798 — 62,798 
December 31, 2023
Securities available for sale:
U.S. Treasury$4,927,589 $— $— $4,927,589 
Residential mortgage-backed securities— 6,596,682 — 6,596,682 
States and political subdivisions— 5,011,331 — 5,011,331 
Other— 42,769 — 42,769 
Trading account securities:
U.S. Treasury30,265 — — 30,265 
States and political subdivisions— 1,452 — 1,452 
Derivative assets:
Interest rate swaps, caps, and floors— 90,715 — 90,715 
Commodity swaps and options— 70,710 — 70,710 
Foreign currency forward contracts22 — — 22 
Derivative liabilities:
Interest rate swaps, caps, and floors— 90,525 — 90,525 
Commodity swaps and options— 69,447 — 69,447 
Foreign currency forward contracts19 — — 19 
Impaired Loans Remeasured And Reported At Fair Value Specific Valuation Allowance Allocation Method Of Underlying Collateral [Table Text Block]
The following table presents collateral dependent loans that were remeasured and reported at fair value through a specific allocation of the allowance for credit losses on loans based upon the fair value of the underlying collateral during the reported periods.
Nine Months Ended
September 30, 2024
Nine Months Ended
September 30, 2023
Level 2Level 3Level 2Level 3
Carrying value before allocations$18,831 $43,046 $20,051 $24,921 
Specific (allocations) reversals of prior allocations(2,220)(13,145)(1,452)(4,849)
Fair value$16,611 $29,901 $18,599 $20,072 
Foreclosed Assets Remeasured And Reported At Fair Value
The following table presents foreclosed assets that were remeasured and reported at fair value during the reported periods:
Nine Months Ended
September 30,
20242023
Foreclosed assets remeasured at initial recognition:
Carrying value of foreclosed assets prior to remeasurement$2,633 $— 
Charge-offs recognized in the allowance for loan losses— — 
Fair value$2,633 $— 
Estimated Fair Values of Financial Instruments The estimated fair values of financial instruments that are reported at amortized cost in our consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows:
September 30, 2024December 31, 2023
Carrying
Amount
Estimated
Fair Value
Carrying
Amount
Estimated
Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents$9,198,374 $9,198,374 $8,687,276 $8,687,276 
Securities held to maturity3,569,718 3,498,271 3,619,428 3,532,044 
Accrued interest receivable194,562 194,562 251,385 251,385 
Level 3 inputs:
Loans, net19,791,734 19,490,209 18,578,255 18,117,369 
Financial liabilities:
Level 2 inputs:
Deposits41,720,621 41,712,765 41,920,568 41,903,580 
Federal funds purchased22,375 22,375 14,200 14,200 
Repurchase agreements4,014,037 4,014,037 4,127,188 4,127,188 
Junior subordinated deferrable interest debentures123,170 123,712 123,127 123,712 
Subordinated notes99,609 99,319 99,491 96,071 
Accrued interest payable66,462 66,462 61,222 61,222