XML 45 R35.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table sets forth our assets and liabilities measured at fair value on a recurring basis as of:
Level 1Level 2Level 3
Quoted prices
in active
markets for
identical
assets		Significant
other
observable
inputs		Significant
unobservable
inputs		Total
Estimated
Fair
Value
June 30, 2024
Available-for-sale securities$39,347 $452,302 $— $491,649 
Loans held-for-sale— 66,571 — 66,571 
Mortgage servicing rights— — 80,744 80,744 
Derivative financial instruments - assets— 40,680 — 40,680 
Derivative financial instruments - liabilities— (23,911)— (23,911)
Total$39,347 $535,642 $80,744 $655,733 
December 31, 2023
Available-for-sale securities$54,234 $462,523 $— $516,757 
Loans held-for-sale— 54,212 — 54,212 
Mortgage servicing rights— — 76,701 76,701 
Derivative financial instruments - assets— 35,073 — 35,073 
Derivative financial instruments - liabilities— (20,475)— (20,475)
Total$54,234 $531,333 $76,701 $662,268 
Schedule of Reconciliation for Level 3 Assets Measured at Fair Value on a Recurring Basis
The following table presents a reconciliation for our Level 3 assets measured at fair value on a recurring basis:
For the three months ended
June 30,
For the six months ended
June 30,
2024202320242023
Balance, beginning of period$78,416 $73,424 $76,701 $74,097 
Total (losses) gains included in earnings(938)2,069 (1,254)(651)
Purchases, issuances, sales and settlements:
Issuances3,266 2,897 5,297 4,944 
Balance, end of period$80,744 $78,390 $80,744 $78,390 
Schedule of Assets and Liabilities Measured at Fair Value on a Non-recurring The following table sets forth our assets and liabilities that were measured at fair value on a non-recurring basis as of:
Level 3
June 30,
2024		December 31,
2023
Collateral dependent loans:
Commercial and industrial$6,597 $2,756 
Commercial real estate3,751 — 
Residential real estate2,101 1,448 
Public finance5,766 — 
Other2,325 2,289 
Total collateral dependent loans$20,540 $6,493 
Other real estate owned and foreclosed assets, net:
Commercial real estate$3,134 $3,133 
Residential real estate1,363 967 
Total other real estate owned and foreclosed assets, net:$4,497 $4,100 
Schedule of Estimated Fair Values of Financial Instruments Not Carried at Fair Value
The carrying amounts and estimated fair values of financial instruments not carried at fair value are as follows as of:
Estimated Fair Value
Carrying
Value		TotalLevel 1Level 2Level 3
June 30, 2024
Assets:
Cash and cash equivalents$535,766 $535,766 $535,766 $— $— 
Securities held-to-maturity36,310 31,084 — 31,084 — 
Loans (excluding collateral dependent loans at fair value)6,316,622 6,177,915 — — 6,177,915 
Restricted equity securities30,846 30,846 — 30,846 — 
Accrued interest receivable37,892 37,892 — 2,277 35,615 
Liabilities:
Deposits (excluding demand deposits)$4,518,985 $4,509,757 $2,548,126 $1,961,631 $— 
Securities sold under agreements to repurchase20,408 20,408 — 20,408 — 
FHLB advances145,000 145,000 — 145,000 — 
Subordinated debt, net75,577 72,075 — 72,075 — 
Accrued interest payable9,199 9,199 — 9,199 — 
December 31, 2023
Assets:
Cash and cash equivalents$479,362 $479,362 $479,362 $— $— 
Securities held-to-maturity36,983 32,181 — 32,181 — 
Loans (excluding collateral dependent loans at fair value)6,260,603 6,121,749 — — 6,121,749 
Restricted equity securities38,072 38,072 — 38,072 — 
Accrued interest receivable37,099 37,099 — 2,220 34,879 
Liabilities:
Deposits (excluding demand deposits)$4,309,057 $4,298,164 $2,503,451 $1,794,713 $— 
Securities sold under agreements to repurchase24,693 24,693 — 24,693 — 
FHLB advances389,468 389,468 — 389,468 — 
Subordinated debt, net75,313 72,073 — 72,073 — 
Accrued interest payable13,580 13,580 — 13,580 —