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Fair Value (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized below:


	Fair Value Measurements at December 31, 2025 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
U.S. Treasury	$	152,090	$	—	$	—	$	152,090
Obligations of State and Political Subdivisions	—		497,606		—		497,606
MBS/CMO	—		719,542		—		719,542
US Gov’t Sponsored Entities & Agencies	—		288,156		—		288,156
Total Securities	$	152,090	$	1,505,304	$	—	$	1,657,394

Loans Held-for-Sale	$	—	$	7,817	$	—	$	7,817

Mortgage Servicing Rights	$	—	$	4,544	$	—	$	4,544

Derivative Assets	$	—	$	4,145	$	—	$	4,145

Derivative Liabilities	$	—	$	4,212	$	—	$	4,212


	Fair Value Measurements at December 31, 2024 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
U.S. Treasury	$	110,864	$	—	$	—	$	110,864
Obligations of State and Political Subdivisions	—		463,169		—		$	463,169
MBS/CMO	—		702,179		—		$	702,179
US Gov’t Sponsored Entities & Agencies	—		241,075		—		241,075
Total Securities	$	110,864	$	1,406,423	$	—	$	1,517,287

Loans Held-for-Sale	$	—	$	8,239	$	—	$	8,239

Mortgage Servicing Rights	$	—	$	179	$	—	$	179

Derivative Assets	$	—	$	6,439	$	—	$	6,439

Derivative Liabilities	$	—	$	6,476	$	—	$	6,476

Schedule of Aggregate Fair Value, Contractual Balance and Gains or Loss of Loans Held-for-Sale

As of December 31, 2025 and 2024, the aggregate fair value, contractual balance (including accrued interest), and gain or loss on Loans Held-for-Sale were as follows:


	2025		2024
Aggregate Fair Value	$	7,817	$	8,239
Contractual Balance	7,660		8,111
Gain (Loss)	157		128

Schedule of Reconciliation of all Assets Measured at Fair Value on Recurring Basis, Using Significant Unobservable Inputs (Level 3)

The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2025 and 2024:


	Obligations of State and Political Subdivisions				MBS/CMO
	2025		2024		2025		2024
Balance of Recurring Level 3 Assets at January 1	$	—	$	75	$	—	$	984
Total Gains (Losses) Included in Other Comprehensive Income	—		2		—		69
Maturities / Calls	—		(15)		—		—
Transfers out of Level 3	—		(62)		—		(1,053)
Balance of Recurring Level 3 Assets at December 31	$	—	$	—	$	—	$	—

Schedule of Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

Assets and liabilities measured at fair value on a non-recurring basis are summarized below:


	Fair Value Measurements at December 31, 2025 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Collateral Dependent Loans
Commercial and Industrial Loans	$	—	$	—	$	14,914	$	14,914
Commercial Real Estate Loans	—		—		23,698		23,698
Agricultural Loans	—		—		2,544		2,544
Consumer Loans	—		—		—		—
Home Equity Loans	—		—		330		330
Residential Mortgage Loans	—		—		366		366


	Fair Value Measurements at December 31, 2024 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Collateral Dependent Loans
Commercial and Industrial Loans	$	—	$	—	$	3,695	$	3,695
Commercial Real Estate Loans	—		—		1,402		1,402
Agricultural Loans	—		—		1,910		1,910
Consumer Loans	—		—		10		10
Home Equity Loans	—		—		328		328
Residential Mortgage Loans	—		—		303		303

Schedule of Fair Value Assets and Liabilities Measured on Nonrecurring Basis Validation Techniques

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2025 and 2024:


December 31, 2025	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
Collateral Dependent Loans - Commercial and Industrial Loans	$	14,914	Sales comparison approach	Adjustment for physical condition of comparable properties sold	7% - 100% (69%)
Collateral Dependent Loans - Commercial Real Estate Loans	$	23,698	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20% - 100% (89%)
Collateral Dependent Loans - Agricultural Loans	$	2,544	Sales comparison approach	Adjustment for physical condition of comparable properties sold	10% - 53% (37%)
Collateral Dependent Loans - Consumer Loans	$	—	Sales comparison approach	Adjustment for physical condition of comparable properties sold	0% - 0% (0%)
Collateral Dependent Loans - Home Equity Loans	$	330	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20% - 20% (20%)
Collateral Dependent Loans - Residential Mortgage Loans	$	366	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20% -20% (20%)


December 31, 2024	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
Collateral Dependent Loans - Commercial and Industrial Loans	$	3,695	Sales comparison approach	Adjustment for physical condition of comparable properties sold	30% - 88% (53%)
Collateral Dependent Loans - Commercial Real Estate Loans	$	1,402	Sales comparison approach	Adjustment for physical condition of comparable properties sold	30% - 68% (46%)
Collateral Dependent Loans - Agricultural Loans	$	1,910	Sales comparison approach	Adjustment for physical condition of comparable properties sold	30% - 100% (57%)
Collateral Dependent Loans - Consumer Loans	$	10	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20% - 20% (20%)
Collateral Dependent Loans - Home Equity Loans	$	328	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20% - 20% (20%)
Collateral Dependent Loans - Residential Mortgage Loans	$	303	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20% - 20% (20%)

Schedule of Carrying Amounts and Estimated Fair Values of Company's Financial Instruments

The carrying amounts and estimated fair values of the Company’s financial instruments not previously presented are provided in the tables below for the periods ending December 31, 2025 and 2024. Not all of the Company’s assets and liabilities are considered financial instruments, and therefore are not included in the tables. Because no active market exists for a significant portion of the Company’s financial instruments, fair value estimates were based on subjective judgments, and therefore cannot be determined with precision.


			Fair Value Measurements at December 31, 2025 Using
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Short-term Investments	$	118,382	$	71,428	$	46,954	$	—	$	118,382
Interest Bearing Time Deposits with Banks	500		—		500		—		500
Loans, Net	5,755,551		—		—		5,702,933		5,702,933
Accrued Interest Receivable	38,997		—		9,496		29,501		38,997
Financial Liabilities:
Demand, Savings, and Money Market Deposits	(5,700,205)		(5,700,205)		—		—		(5,700,205)
Time Deposits	(1,289,537)		—		(1,286,002)		—		(1,286,002)
Short-term Borrowings	(43,852)		—		(43,852)		—		(43,852)
Long-term Debt	(138,831)		—		(102,892)		(34,126)		(137,018)
Accrued Interest Payable	(10,243)		—		(9,925)		(318)		(10,243)


			Fair Value Measurements at December 31, 2024 Using
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Short-term Investments	$	188,792	$	69,249	$	119,543	$	—	$	188,792
Interest Bearing Time Deposits with Banks	500		—		500		—		500
Loans, Net	4,072,818		—		—		3,993,595		3,993,595
Accrued Interest Receivable	31,280		—		8,499		22,781		31,280
Financial Liabilities:
Demand, Savings, and Money Market Deposits	(4,412,474)		(4,412,474)		—		—		(4,412,474)
Time Deposits	(916,601)		—		(911,059)		—		(911,059)
Short-term Borrowings	(56,862)		—		(56,862)		—		(56,862)
Long-term Debt	(153,269)		—		(77,591)		(75,210)		(152,801)
Accrued Interest Payable	(8,468)		—		(8,116)		(352)		(8,468)

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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