FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

Assets and liabilities measured at fair value on a recurring and nonrecurring basis were as follows at the dates indicated:


			Fair Value Measurements at Reporting Date Using
	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	December 31, 2024
	(Dollars in thousands)
Recurring fair value measurements
Assets
Trading securities	$	4,245	$	4,245	$	—	$	—
Equity securities	21,204		21,204		—		—
Securities available for sale
U.S. government agency securities	209,660		—		209,660		—
U.S. treasury securities	592,001		—		592,001		—
Agency mortgage-backed securities	378,161		—		378,161		—
Agency collateralized mortgage obligations	28,995		—		28,995		—
State, county, and municipal securities	194		—		194		—

Pooled trust preferred securities issued by banks and insurers	1,095		—		1,095		—
Small business administration pooled securities	40,838		—		40,838		—
Loans held for sale	7,271		—		7,271		—
Derivative instruments	103,958		—		103,958		—
Liabilities
Derivative instruments	123,755		—		123,755		—
Total recurring fair value measurements, net	$	1,263,867	$	25,449	$	1,238,418	$	—

Nonrecurring fair value measurements
Assets
Individually assessed collateral dependent loans (1)	$	43,766	$	—	$	—	$	43,766

Total nonrecurring fair value measurements	$	43,766	$	—	$	—	$	43,766


			Fair Value Measurements at Reporting Date Using
	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	December 31, 2023
	(Dollars in thousands)
Recurring fair value measurements
Assets
Trading securities	$	4,987	$	4,987	$	—	$	—
Equity securities	22,510		22,510		—		—
Securities available for sale
U.S. government agency securities	207,138		—		207,138		—
U.S. treasury securities	769,102		—		769,102		—
Agency mortgage-backed securities	277,047		—		277,047		—
Agency collateralized mortgage obligations	33,189		—		33,189		—
State, county, and municipal securities	190		—		190		—

Pooled trust preferred securities issued by banks and insurers	1,018		—		1,018		—
Small business administration pooled securities	46,572		—		46,572		—
Loans held for sale	6,368		—		6,368		—
Derivative instruments	103,948		—		103,948		—
Liabilities
Derivative instruments	133,868		—		133,868		—
Total recurring fair value measurements, net	$	1,338,201	$	27,497	$	1,310,704	$	—

Nonrecurring fair value measurements
Assets
Individually assessed collateral dependent loans (1)	$	28,881	$	—	$	—	$	28,881

Total nonrecurring fair value measurements	$	28,881	$	—	$	—	$	28,881

(1)The carrying value of individually assessed collateral dependent loans is based on the lower of amortized cost or fair value of the underlying collateral less costs to sell. The fair value of the underlying collateral is generally determined through independent appraisals, which generally include various Level 3 inputs which are not identifiable. Appraisals may be adjusted by management for qualitative factors such as economic factors and estimated liquidation expenses. The range of these possible adjustments may vary.

Schedule of Fair Values and Related Carrying Amounts by Balance Sheet Grouping

The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below at the dates indicated:


					Fair Value Measurements at Reporting Date Using
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	December 31, 2024
	(Dollars in thousands)
Financial assets
Securities held to maturity (a)

U.S. treasury securities	$	100,791	$	93,022	$	—	$	93,022	$	—
Agency mortgage-backed securities	788,470		726,362		—		726,362		—
Agency collateralized mortgage obligations	422,827		357,684		—		357,684		—


Small business administration pooled securities	122,868		114,733		—		114,733		—

Loans, net of allowance for credit losses (b)	14,294,628		13,213,596		—		—		13,213,596
Federal Home Loan Bank stock (c)	31,573		31,573		—		31,573		—
Cash surrender value of life insurance policies (d)	303,965		303,965		—		303,965		—
Financial liabilities
Deposit liabilities, other than time deposits (e)	$	12,558,632	$	12,558,632	$	—	$	12,558,632	$	—
Time certificates of deposits (f)	2,747,346		2,739,606		—		2,739,606		—
Federal Home Loan Bank borrowings (f)	638,514		638,489		—		638,489		—



Junior subordinated debentures (g)	62,860		61,661		—		61,661		—


					Fair Value Measurements at Reporting Date Using
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	December 31, 2023
Financial assets	(Dollars in thousands)
Securities held to maturity (a)
U.S. government agency securities	$	29,521	$	28,408	$	—	$	28,408	$	—
U.S. treasury securities	100,712		91,535		$	—	91,535		—
Agency mortgage-backed securities	829,431		763,728		—		763,728		—
Agency collateralized mortgage obligations	477,517		407,911		—		407,911		—

Single issuer trust preferred securities issued by banks	1,500		1,373		—		1,373		—
Small business administration pooled securities	130,426		124,653		—		124,653		—

Loans, net of allowance for loan losses (b)	14,106,967		13,079,368		—		—		13,079,368
Federal Home Loan Bank stock (c)	43,557		43,557		—		43,557		—
Cash surrender value of life insurance policies (d)	297,387		297,387		—		297,387		—
Financial liabilities
Deposit liabilities, other than time deposits (e)	$	12,684,068	$	12,684,068	$	—	$	12,684,068	$	—
Time certificates of deposits (f)	2,181,479		2,166,573		—		2,166,573		—
Federal Home Loan Bank borrowings (f)	1,105,541		1,103,845		—		1,103,845		—



Junior subordinated debentures (g)	62,858		58,911		—		58,911		—
Subordinated debentures (f)	49,980		49,613		—		—		49,613

(a)The fair values presented are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments and/or discounted cash flow analysis.

(b)Fair value of loans is measured using the exit price valuation method, determined primarily by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities or cash flows, while incorporating liquidity and credit assumptions. Additionally, this amount excludes individually assessed collateral dependent loans, which are deemed to be marked to fair value on a nonrecurring basis.

(c)Federal Home Loan Bank stock has no quoted market value and is carried at cost, therefore the carrying amount approximates fair value.

(d)Cash surrender value of life insurance is recorded at its cash surrender value (or the amount that can be realized upon surrender of the policy), therefore, carrying amount approximates fair value.

(e)Fair value of demand deposits, savings and interest checking accounts and money market deposits is the amount payable on demand at the reporting date.

(f)Fair value was determined by discounting anticipated future cash payments using rates currently available for instruments with similar remaining maturities.

(g)Fair value was determined based upon market prices of securities with similar terms and maturities.