Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Assets and liabilities measured at fair value on a recurring and non-recurring 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)
	June 30, 2026
	(Dollars in thousands)
Recurring fair value measurements
Assets
Trading securities	$	4,835	$	4,835	$	—	$	—
Equity securities	21,602		21,602		—		—
Securities available for sale
U.S. government agency securities	218,788		—		218,788		—
U.S. treasury securities	379,175		—		379,175		—
Agency mortgage-backed securities	961,809		—		961,809		—
Agency collateralized mortgage obligations	251,529		—		251,529		—

Municipal securities	228,801		—		228,801		—


Pooled trust preferred securities issued by banks and insurers	966		—		966		—
Small business administration pooled securities	34,904		—		34,904		—
Loans held for sale	21,982		—		21,982		—
Derivative instruments	56,600		—		56,600		—
Liabilities
Derivative instruments	65,323		—		65,323		—
Total recurring fair value measurements	$	2,115,668	$	26,437	$	2,089,231	$	—

Non-recurring fair value measurements
Assets
Individually assessed collateral dependent loans (1)	$	70,653	$	—	$	—	$	70,653
Other real estate owned and other foreclosed assets	206		—		—		206
Total non-recurring fair value measurements	$	70,859	$	—	$	—	$	70,859


			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, 2025
	(Dollars in thousands)
Recurring fair value measurements
Assets
Trading securities	$	4,720	$	4,720	$	—	$	—
Equity securities	21,581		21,581		—		—
Securities available for sale
U.S. government agency securities	218,672		—		218,672		—
U.S. treasury securities	471,084		—		471,084		—
Agency mortgage-backed securities	772,963		—		772,963		—
Agency collateralized mortgage obligations	269,576		—		269,576		—

Municipal securities	233,078		—		233,078		—


Pooled trust preferred securities issued by banks and insurers	1,042		—		1,042		—
Small business administration pooled securities	37,832		—		37,832		—
Loans held for sale	35,909		—		35,909		—
Derivative instruments	60,130		—		60,130		—
Liabilities
Derivative instruments	67,965		—		67,965		—
Total recurring fair value measurements, net	$	2,058,622	$	26,301	$	2,032,321	$	—

Non-recurring fair value measurements
Assets
Individually assessed collateral dependent loans (1)	$	79,868	$	—	$	—	$	79,868
Other real estate owned and other foreclosed assets	2,100		—		—		2,100
Total non-recurring fair value measurements	$	81,968	$	—	$	—	$	81,968

(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.

The estimated fair values and related carrying amounts for assets and liabilities

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)
	June 30, 2026
	(Dollars in thousands)
Financial assets
Securities held to maturity (a)

U.S. treasury securities	$	100,911	$	97,503	$	—	$	97,503	$	—
Agency mortgage-backed securities	653,630		615,058		—		615,058		—
Agency collateralized mortgage obligations	348,671		303,073		—		303,073		—


Small business administration pooled securities	107,098		102,010		—		102,010		—

Loans, net of allowance for credit losses (b)	18,127,775		17,770,945		—		—		17,770,945
Federal Home Loan Bank stock (c)	13,631		13,631		—		13,631		—
Cash surrender value of life insurance policies (d)	381,230		381,230		—		381,230		—
Financial liabilities
Deposit liabilities, other than time deposits (e)	$	17,142,663	$	17,142,663	$	—	$	17,142,663	$	—
Time certificates of deposits (f)	3,249,455		3,241,759		—		3,241,759		—
Federal Home Loan Bank and other borrowings (f)	216,719		217,510		—		217,510		—


Line of credit (f)	124,984		128,366		—		128,366		—

Junior subordinated debentures (g)	62,864		62,689		—		62,689		—
Subordinated debentures (h)	296,898		309,000		—		—		309,000


					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, 2025
	(Dollars in thousands)
Financial assets
Securities held to maturity (a)

U.S. treasury securities	$	100,872	$	97,124	$	—	$	97,124	$	—
Agency mortgage-backed securities	694,903		659,415		—		659,415		—
Agency collateralized mortgage obligations	370,698		325,798		—		325,798		—


Small business administration pooled securities	112,554		108,396		—		108,396		—

Loans, net of allowance for credit losses (b)	18,234,032		17,842,036		—		—		17,842,036
Federal Home Loan Bank stock (c)	21,835		21,835		—		21,835		—
Cash surrender value of life insurance policies (d)	378,576		378,576		—		378,576		—
Financial liabilities
Deposit liabilities, other than time deposits (e)	$	16,858,570	$	16,858,570	$	—	$	16,858,570	$	—
Time certificates of deposits (f)	3,268,220		3,262,605		—		3,262,605		—
Federal Home Loan Bank and other borrowings (f)	416,549		417,352		—		417,352		—


Line of credit (f)	49,953		52,494		—		52,494		—

Junior subordinated debentures (g)	62,862		62,492		—		62,492		—
Subordinated debentures (f)	296,483		308,794		—		—		308,794

(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 non-recurring 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 policies 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.