Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Financial Instruments Measured on Recurring Basis

The following table sets forth the Company’s financial assets by level within the fair value hierarchy that were measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025.


			Fair Value Measurements Using
(In thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2026
Available-for-sale securities

U.S. Government agencies	$	46,329	$	—	$	46,329	$	—
Mortgage-backed securities	2,128,732		—		2,128,732		—
State and political subdivisions	838,880		—		838,880		—
Other securities	138,345		—		138,345		—
Mortgage loans held for sale	14,311		—		—		14,311
Assets held in trading accounts	14,543		14,543		—		—
Derivative asset	83,688		—		83,688		—
Derivative liability	(36,783)		—		(36,783)		—

December 31, 2025
Available-for-sale securities

U.S. Government agencies	$	47,172	$	—	$	47,172	$	—
Mortgage-backed securities	2,201,958		—		2,201,958		—
States and political subdivisions	859,071		—		859,071		—
Other securities	158,020		—		158,020		—
Mortgage loans held for sale	17,438		—		—		17,438
Assets held in trading accounts	11,685		11,685		—		—
Derivative asset	87,463		—		87,463		—
Derivative liability	(31,522)		—		(31,522)		—

Schedule of Financial Assets Measure on Nonrecurring Basis

The following table sets forth the Company’s assets by level within the fair value hierarchy that were measured at fair value on a nonrecurring basis as of March 31, 2026 and December 31, 2025.


			Fair Value Measurements Using
(In thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2026
Individually assessed loans (1) (2) (collateral-dependent)	$	110,365	$	—	$	—	$	110,365
Foreclosed assets and other real estate owned (1)	3,346		—		—		3,346

December 31, 2025
Individually assessed loans (1) (2) (collateral-dependent)	$	112,374	$	—	$	—	$	112,374
Foreclosed assets and other real estate owned (1)	1,081		—		—		1,081

________________________

(1)These amounts represent the resulting carrying amounts on the consolidated balance sheets for collateral-dependent loans and foreclosed assets and other real estate owned for which fair value re-measurements took place during the period.

(2)Identified reserves of $8.2 million and $9.1 million were related to collateral-dependent loans for which fair value re-measurements took place during the periods ended March 31, 2026 and December 31, 2025, respectively.

Schedule of Estimated Fair Values and Related Carrying Amounts

The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows:


	Carrying		Fair Value Measurements
(In thousands)	Amount		Level 1		Level 2		Level 3		Total
March 31, 2026
Financial assets:
Cash and cash equivalents	$	548,483	$	548,483	$	—	$	—	$	548,483
Interest bearing balances due from banks - time	100		—		100		—		100

Interest receivable	101,557		—		101,557		—		101,557
Loans, net	17,702,975		—		—		17,527,125		17,527,125

Financial liabilities:
Noninterest bearing transaction accounts	4,289,697		—		4,289,697		—		4,289,697
Interest bearing transaction accounts and savings deposits	11,311,979		—		11,311,979		—		11,311,979
Time deposits	4,601,107		—		—		4,588,801		4,588,801
Federal funds purchased and securities sold under agreements to repurchase	8,708		—		8,708		—		8,708
Other borrowings	446,756		—		445,953		—		445,953
Subordinated notes and debentures	315,700		—		325,562		—		325,562
Interest payable	34,910		—		34,910		—		34,910

December 31, 2025
Financial assets:
Cash and cash equivalents	$	711,913	$	711,913	$	—	$	—	$	711,913
Interest bearing balances due from banks - time	100		—		100		—		100

Interest receivable	104,062		—		104,062		—		104,062
Loans, net	17,267,802		—		—		17,056,124		17,056,124

Financial liabilities:
Noninterest bearing transaction accounts	4,330,211		—		4,330,211		—		4,330,211
Interest bearing transaction accounts and savings deposits	11,141,169		—		11,141,169		—		11,141,169
Time deposits	4,712,658		—		—		4,704,667		4,704,667
Federal funds purchased and securities sold under agreements to repurchase	21,383		—		21,383		—		21,383
Other borrowings	302,253		—		301,500		—		301,500
Subordinated notes and debentures	317,714		—		328,419		—		328,419
Interest payable	34,683		—		34,683		—		34,683