Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

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 June 30, 2026 and December 31, 2025, segregated by the level of the valuation inputs within the fair value hierarchy of ASC Topic 820 utilized to measure fair value.


	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
June 30, 2026
Securities available for sale:
U.S. Treasury	$	2,925,951	$	—	$	—	$	2,925,951
Residential mortgage-backed securities	—		9,819,310		—		9,819,310
States and political subdivisions	—		5,302,145		—		5,302,145
Other	—		42,567		—		42,567
Trading account securities:
U.S. Treasury	38,037		—		—		38,037
States and political subdivisions	—		1,116		—		1,116
Derivative assets:
Interest rate swaps, caps, and floors	—		55,257		—		55,257
Commodity swaps and options	—		62,313		—		62,313

Derivative liabilities:
Interest rate swaps, caps, and floors	—		54,846		—		54,846
Commodity swaps and options	—		60,177		—		60,177

December 31, 2025
Securities available for sale:
U.S. Treasury	$	2,456,517	$	—	$	—	$	2,456,517
Residential mortgage-backed securities	—		8,121,794		—		8,121,794
States and political subdivisions	—		5,349,857		—		5,349,857
Other	—		42,428		—		42,428
Trading account securities:
U.S. Treasury	36,650		—		—		36,650
States and political subdivisions	—		954		—		954
Derivative assets:
Interest rate swaps, caps, and floors	—		58,663		—		58,663
Commodity swaps and options	—		52,364		—		52,364

Derivative liabilities:
Interest rate swaps, caps, and floors	—		58,665		—		58,665
Commodity swaps and options	—		50,598		—		50,598

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.


	Six Months Ended June 30, 2026				Six Months Ended June 30, 2025
	Level 2		Level 3		Level 2		Level 3
Carrying value before allocations	$	61,352	$	7,401	$	6,691	$	15,830
Specific (allocations) reversals of prior allocations	(2,191)		(771)		(528)		(1,921)
Fair value	$	59,161	$	6,630	$	6,163	$	13,909

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:


	Six Months Ended June 30,
	2026		2025




Foreclosed assets remeasured subsequent to initial recognition:
Carrying value of foreclosed assets prior to remeasurement	$	867	$	—
Write-downs included in other non-interest expense	(212)		—
Fair value	$	655	$	—

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 of ASC 820 utilized to measure fair value, were as follows:


	June 30, 2026				December 31, 2025
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	6,467,194	$	6,467,194	$	8,874,055	$	8,874,055
Securities held to maturity	3,385,507		3,250,816		3,431,179		3,295,431
Accrued interest receivable	255,130		255,130		256,093		256,093
Level 3 inputs:
Loans, net	22,691,946		22,509,277		21,610,317		21,559,335
Financial liabilities:
Level 2 inputs:
Deposits	43,334,015		43,320,873		42,917,864		42,908,091
Federal funds purchased	25,500		25,500		18,775		18,775
Repurchase agreements	4,886,598		4,886,598		4,525,855		4,525,855
Junior subordinated deferrable interest debentures	123,271		123,712		123,242		123,712
Subordinated notes	99,883		99,832		99,804		100,053
Accrued interest payable	43,694		43,694		45,737		45,737