FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The carrying amounts and estimated fair values of financial instruments that are reported at cost on the balance sheet were as follows:

	December 31, 2023
	Carrying Amount		Estimated Fair Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
Financial assets
Cash and cash equivalents	$	399,237	$	399,237	$	—	$	—	$	399,237
Available for sale securities	1,395,680		—		1,395,680		—		1,395,680
Loans held for investment, net of allowance	7,833,449		—		—		7,627,962		7,627,962
Accrued interest receivable	44,244		118		6,716		37,410		44,244
Financial liabilities
Deposits	$	8,873,467	$	—	$	8,866,645	$	—	$	8,866,645
Accrued interest payable	11,288		—		11,288		—		11,288
Borrowed funds	50,000		—		50,000		—		50,000
Subordinated debt	109,765		—		109,390		—		109,390

	December 31, 2022
	Carrying Amount		Estimated Fair Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
Financial assets
Cash and cash equivalents	$	371,705	$	371,705	$	—	$	—	$	371,705
Available for sale securities	1,807,586		—		1,807,586		—		1,807,586
Loans held for investment, net of allowance	7,661,571		—		—		7,555,602		7,555,602
Accrued interest receivable	44,743		25		10,585		34,133		44,743
Financial liabilities
Deposits	$	9,267,632	$	—	$	9,256,141	$	—	$	9,256,141
Accrued interest payable	2,098		—		2,098		—		2,098
Borrowed funds	63,925		—		63,999		—		63,999
Subordinated debt	109,367		—		107,910		—		107,910

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis were as follows:

	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(In thousands)
Financial assets
Available for sale securities:
U.S. government and agency securities	$	—	$	297,418	$	—	$	297,418
Municipal securities	—		204,059		—		204,059
Agency mortgage-backed pass-through securities	—		387,873		—		387,873
Agency collateralized mortgage obligations	—		398,117		—		398,117
Corporate bonds and other	—		108,213		—		108,213
Interest rate swaps	—		6,692		—		6,692
Credit risk participation agreements	—		—		20		20
Total fair value of financial assets	$	—	$	1,402,372	$	20	$	1,402,392
Financial liabilities
Interest rate swaps	$	—	$	6,692	$	—	$	6,692
Total fair value of financial liabilities	$	—	$	6,692	$	—	$	6,692

	December 31, 2022
	Level 1			Level 2		Level 3			Total
	(In thousands)
Financial assets
Available for sale securities:
U.S. government and agency securities	$	—		$	414,280	$	—		$	414,280
Municipal securities	—			540,569		—			540,569
Agency mortgage-backed pass-through securities	—			328,801		—			328,801
Agency collateralized mortgage obligations	—			394,130		—			394,130
Corporate bonds and other	—			129,806		—			129,806
Interest rate swaps	—			9,263		—			9,263
Credit risk participation agreements	—		—	—		27		—	27
Total fair value of financial assets	$	—		$	1,816,849	$	27		$	1,816,876
Financial liabilities
Interest rate swaps	$	—		$	9,263	$	—		$	9,263
Total fair value of financial liabilities	$	—		$	9,263	$	—		$	9,263

Fair Value Measurements, Nonrecurring

There were no liabilities measured at fair value on a nonrecurring basis at December 31, 2023 and 2022. Assets measured on a nonrecurring basis for the periods noted are summarized in the table below.

	December 31, 2023
	Level 1		Level 2		Level 3
	(In thousands)
Loans:
Commercial and industrial	$	—	$	—	$	10,084
Commercial real estate (including multi-family residential)	—		—		7,134
Commercial real estate construction and land development	—		—		6,654
1-4 family residential (including home equity)	—		—		3,892
Consumer and other	—		—		106
Branch assets held for sale	2,033		—		—
	$	2,033	$	—	$	27,870

	December 31, 2022
	Level 1		Level 2		Level 3
	(In thousands)
Loans:
Commercial and industrial	$	—	$	—	$	21,948
Commercial real estate (including multi-family residential)	—		—		11,566
1-4 family residential (including home equity)	—		—		2,883
Branch assets held for sale	5,165		—		—
	$	5,165	$	—	$	36,397