Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 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
September 30, 2026
Securities available for sale:
U.S. Treasury	$	2,383,514	$	—	$	—	$	2,383,514
Residential mortgage-backed securities	—		9,541,066		—		9,541,066
States and political subdivisions	—		5,131,795		—		5,131,795
Other	—		42,253		—		42,253
Trading account securities:
U.S. Treasury	37,986		—		—		37,986
States and political subdivisions	—		11,661		—		11,661
Derivative assets:
Interest rate swaps, caps, and floors	—		85,788		—		85,788
Commodity swaps and options	—		162,184		—		162,184
Foreign currency forward contracts	—		39		—		39
Derivative liabilities:
Interest rate swaps, caps, and floors	—		85,995		—		85,995
Commodity swaps and options	—		159,879		—		159,879

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.


	Nine Months Ended September 30, 2026				Nine Months Ended September 30, 2025
	Level 2		Level 3		Level 2		Level 3
Carrying value before allocations	$	15,983	$	5,630	$	6,719	$	11,078
Specific (allocations) reversals of prior allocations	(379)		(474)		(648)		(706)
Fair value	$	15,604	$	5,156	$	6,071	$	10,372

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,
	2026		2025
Foreclosed assets remeasured at initial recognition:
Carrying value of foreclosed assets prior to remeasurement	$	2,685	$	659
Charge-offs recognized in the allowance for credit losses on loans	(353)		—
Fair value	$	2,332	$	659
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:


	September 30, 2026				December 31, 2025
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	7,102,383	$	7,102,383	$	8,874,055	$	8,874,055
Securities held to maturity	3,362,788		2,952,778		3,431,179		3,295,431
Accrued interest receivable	206,801		206,801		256,093		256,093
Level 3 inputs:
Loans, net	23,366,709		23,017,880		21,610,317		21,559,335
Financial liabilities:
Level 2 inputs:
Deposits	44,222,371		44,204,565		42,917,864		42,908,091
Federal funds purchased	20,000		20,000		18,775		18,775
Repurchase agreements	5,116,888		5,116,888		4,525,855		4,525,855
Junior subordinated deferrable interest debentures	123,285		123,712		123,242		123,712
Subordinated notes	99,922		99,666		99,804		100,053
Accrued interest payable	42,920		42,920		45,737		45,737