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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Mortgage Loans Held for Sale
The following table presents a summary of mortgage loans held for sale accounted for under the fair value option:
(Dollars in thousands)September 30,
2024		December 31,
2023
Aggregate fair value$20,864 $20,077 
Aggregate principal balance
20,389 19,480 
Difference between fair value and principal balance$475 $597 
Items Recorded at Fair Value on a Recurring Basis
The following tables present the balances of assets and liabilities reported at fair value on a recurring basis:
(Dollars in thousands)TotalQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
September 30, 2024
Assets:
Available for sale debt securities:
Obligations of U.S. government-sponsored enterprises
$231,944 $— $231,944 $— 
Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises
718,907 — 718,907 — 
Obligations of states and political subdivisions
664 — 664 — 
Individual name issuer trust preferred debt securities
9,193 — 9,193 — 
Corporate bonds
12,558 — 12,558 — 
Mortgage loans held for sale20,864 — 20,864 — 
Derivative assets37,047 — 37,047 — 
Total assets at fair value on a recurring basis$1,031,177 $— $1,031,177 $— 
Liabilities:
Derivative liabilities$38,545 $— $38,545 $— 
Total liabilities at fair value on a recurring basis$38,545 $— $38,545 $— 
(Dollars in thousands)TotalQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
December 31, 2023
Assets:
Available for sale debt securities:
Obligations of U.S. government-sponsored enterprises
$225,742 $— $225,742 $— 
Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises
753,956 — 753,956 — 
Individual name issuer trust preferred debt securities
8,793 — 8,793 — 
Corporate bonds
11,889 — 11,889 — 
Mortgage loans held for sale20,077 — 20,077 — 
Derivative assets51,966 — 51,966 — 
Total assets at fair value on a recurring basis$1,072,423 $— $1,072,423 $— 
Liabilities:
Derivative liabilities$52,814 $— $52,814 $— 
Total liabilities at fair value on a recurring basis$52,814 $— $52,814 $— 
Items Recorded at Fair Value on a Nonrecurring Basis
The following table presents the carrying value of assets held at September 30, 2024, which were written down to fair value
during the nine months ended September 30, 2024:
(Dollars in thousands)TotalQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Assets:
Collateral dependent individually analyzed loan$9,976 $— $— $9,976 
Loan servicing rights7,773 — — 7,773 
Total assets at fair value on a nonrecurring basis$17,749 $— $— $17,749 

The following table presents the carrying value of assets held at December 31, 2023, which were written down to fair value during the year ended December 31, 2023.
(Dollars in thousands)TotalQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Assets:
Collateral dependent individually analyzed loans$8,050 $— $— $8,050 
Loan servicing rights8,512 — — 8,512 
Total assets at fair value on a nonrecurring basis$16,562 $— $— $16,562 
Quantitative Information About Level 3 Assets Measured at Fair Value on a Nonrecurring Basis
The following tables present valuation techniques and unobservable inputs for assets measured at fair value on a nonrecurring
basis for which the Corporation has utilized Level 3 inputs to determine fair value:
(Dollars in thousands)Fair ValueValuation TechniqueUnobservable InputRange of Inputs Utilized
(Weighted Average)
September 30, 2024
Collateral dependent individually analyzed loan$9,976 Appraisals of collateralDiscount for costs to sell
2%
Appraisal adjustments
0%
Loan servicing rights7,773 Discounted cash flowDiscount rates
10% - 14% (10%)
Prepayment rates
5% - 42% (9%)
(Dollars in thousands)Fair ValueValuation TechniqueUnobservable InputInputs Utilized
(Weighted Average)
December 31, 2023
Collateral dependent individually analyzed loans$8,050 Appraisals of collateralDiscount for costs to sell
0%
Appraisal adjustments
0%
Loan servicing rights8,512 Discounted cash flowDiscount rates
10% - 14% (10%)
Prepayment rates
6% - 53% (9%)
Carrying Amounts and Estimated Fair Values of Financial Instruments
The estimated fair values and related carrying amounts for financial instruments for which fair value is only disclosed are presented in the tables below:
(Dollars in thousands)
September 30, 2024Carrying AmountTotal
Fair Value		Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Financial Assets:
Cash and cash equivalents$210,743 $210,743 $210,743 $— $— 
Loans, net of allowance for credit losses on loans (1)
5,472,240 5,297,579 — — 5,297,579 
FHLB stock
57,439 57,439 — 57,439 — 
Investment in BOLI
105,998 105,998 — 105,998 — 
Financial Liabilities:
Non-maturity deposits$3,584,267 $3,584,267 $— $3,584,267 $— 
Time deposits1,587,623 1,581,094 — 1,581,094 — 
FHLB advances
1,300,000 1,309,214 — 1,309,214 — 
Junior subordinated debentures22,681 19,254 — 19,254 — 
(1)The estimated fair value excludes a $19 thousand negative basis adjustment associated with fair value hedges. See Note 6 for additional disclosure.
(Dollars in thousands)
December 31, 2023Carrying AmountTotal
Fair Value		Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Financial Assets:
Cash and cash equivalents$90,184 $90,184 $90,184 $— $— 
Loans, net of allowance for credit losses on loans5,606,649 5,365,396 — — 5,365,396 
FHLB stock
51,893 51,893 — 51,893 — 
Investment in BOLI
103,736 103,736 — 103,736 — 
Financial Liabilities:
Non-maturity deposits$3,559,923 $3,559,923 $— $3,559,923 $— 
Time deposits1,788,237 1,773,643 — 1,773,643 — 
FHLB advances
1,190,000 1,192,262 — 1,192,262 — 
Junior subordinated debentures22,681 19,228 — 19,228 —