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Fair Value (Tables)

3 Months Ended

Mar. 31, 2026

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 March 31, 2026 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	$	135,411	$	—	$	—	$	135,411
Obligations of State and Political Subdivisions	—		486,535		—		486,535
MBS/CMO	—		740,928		—		740,928
US Gov’t Sponsored Entities & Agencies	—		304,056		—		304,056
Total Securities	$	135,411	$	1,531,519	$	—	$	1,666,930

Loans Held-for-Sale	$	—	$	15,451	$	—	$	15,451

Mortgage Servicing Rights	$	—	$	4,533	$	—	$	4,533

Derivative Assets	$	—	$	3,785	$	—	$	3,785

Derivative Liabilities	$	—	$	3,868	$	—	$	3,868


	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

Schedule of Aggregate Fair Value, Contractual Balance and Gain (Loss) of Loans Held-for-Sale

As of March 31, 2026 and December 31, 2025, the aggregate fair value, contractual balance (including accrued interest), and gain or loss on Loans Held-for-Sale was as follows:


	March 31, 2026		December 31, 2025

Aggregate Fair Value	$	15,451	$	7,817
Contractual Balance	15,340		7,660
Gain	111		157

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 March 31, 2026 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	$	—	$	—	$	13,385	$	13,385
Commercial Real Estate Loans	$	—	$	—	$	19,909	$	19,909
Agricultural Loans	$	—	$	—	$	2,270	$	2,270
Consumer Loans	$	—	$	—	$	—	$	—
Home Equity Loans	$	—	$	—	$	330	$	330
Residential Mortgage Loans	$	—	$	—	$	241	$	241


	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

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

The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at March 31, 2026 and December 31, 2025:


March 31, 2026	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)

Collateral Dependent Loans - Commercial and Industrial Loans	$	13,385	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20%-100% (72%)
Collateral Dependent Loans - Commercial Real Estate Loans	$	19,909	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20%-100% (85%)
Collateral Dependent Loans - Agricultural Loans	$	2,270	Sales comparison approach	Adjustment for physical condition of comparable properties sold	10%-58% (33%)
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	$	241	Sales comparison approach	Adjustment for physical condition of comparable properties sold	20%-20% (20%)


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%)

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 ended March 31, 2026 and December 31, 2025. 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 March 31, 2026 Using
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Short-term Investments	$	123,927	$	75,956	$	47,971	$	—	$	123,927
Interest Bearing Time Deposits with Banks	500		—		500		—		500
Loans, Net	5,734,746		—		—		5,681,915		5,681,915
Accrued Interest Receivable	37,683		—		8,716		28,967		37,683
Financial Liabilities:
Demand, Savings, and Money Market Deposits	(5,695,388)		(5,695,388)		—		—		(5,695,388)
Time Deposits	(1,285,520)		—		(1,280,698)		—		(1,280,698)
Short-term Borrowings	(30,362)		—		(30,362)		—		(30,362)
Long-term Debt	(138,873)		—		(102,613)		(34,758)		(137,371)
Accrued Interest Payable	(6,936)		—		(6,637)		(299)		(6,936)


			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)