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Fair Values of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements of Assets and Liabilities Recognized in the Balance Sheets Measured at Fair Value on Recurring Basis
The following table presents the fair value measurements of assets and liabilities recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the ASC 820-10 fair value hierarchy in which the fair value measurements fall at December 31, 2022 and 2021.
  Fair Value Measurements Using:
  Quoted Prices in Active
Markets for Identical Assets
Significant Other Observable InputsSignificant
Unobservable Inputs
December 31, 2022Fair Value(Level 1)(Level 2)(Level 3)
Available for sale securities:
U.S. Government-sponsored agency securities$101,962 $— $101,962 $— 
U.S. Treasury 2,459 2,459 — — 
State and municipal1,351,760 — 1,348,356 3,404 
U.S. Government-sponsored mortgage-backed securities508,273 — 508,269 
Corporate obligations12,207 — 12,176 31 
Derivative assets93,036 — 93,036 — 
Derivative liabilities92,770 — 92,770 — 

  Fair Value Measurements Using:
  Quoted Prices in Active
Markets for Identical Assets
Significant Other Observable InputsSignificant
Unobservable Inputs
December 31, 2021Fair Value(Level 1)(Level 2)(Level 3)
Available for sale securities:
U.S. Government-sponsored agency securities$95,136 $— $95,136 $— 
U.S. Treasury999 999 — — 
State and municipal1,576,532 — 1,571,076 5,456 
U.S. Government-sponsored mortgage-backed securities667,605 — 667,601 
Corporate obligations4,279 — 4,248 31 
Interest rate swap asset41,133 — 41,133 — 
Interest rate swap liability41,968 — 41,968 — 
Schedule of Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Recognized in the Balance Sheets using Significant Unobservable Level 3 Inputs
The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying balance sheets using significant unobservable Level 3 inputs for year ended December 31, 2022 and 2021.
Available for Sale Securities
For The Year Ended
 December 31, 2022December 31, 2021
Beginning Balance$5,491 $2,479 
Included in other comprehensive income(612)227 
Purchases, issuances, and settlements5,111 3,241 
Principal payments(6,551)(456)
Ending balance$3,439 $5,491 
Schedule of Description of Valuation Methodologies Used for Instruments Measured at Fair Value on a Non-Recurring Basis and Recognized in the Balance Sheets
Following is a description of valuation methodologies used for instruments measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy for year ended December 31, 2022 and 2021.
  Fair Value Measurements Using
  Quoted Prices in Active
Markets for Identical Assets
Significant Other Observable InputsSignificant
Unobservable Inputs
December 31, 2022Fair Value(Level 1)(Level 2)(Level 3)
Collateral dependent loans$55,290 — — $55,290 


  Fair Value Measurements Using
  Quoted Prices in Active
Markets for Identical Assets
Significant Other Observable InputsSignificant
Unobservable Inputs
December 31, 2021Fair Value(Level 1)(Level 2)(Level 3)
Collateral dependent loans$24,491 — — $24,491 
Other real estate owned$96 — — $96 
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements Other than Goodwill
The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at December 31, 2022 and 2021.
December 31, 2022Fair ValueValuation TechniqueUnobservable InputsRange (Weighted-Average)
State and municipal securities$3,404 Discounted cash flowMaturity Call Date
US Muni BQ curve
Discount rate
Weighted-average coupon
1 month to 15 years
A- to BBB
0.4% - 4%
3.4%
Corporate obligations and U.S. Government-sponsored mortgage backed securities$35 Discounted cash flowRisk free rate
plus Premium for illiquidity
Weighted-average coupon
3 month LIBOR
plus 200bps
0%
Collateral dependent loans$55,290 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability
Weighted-average discount by loan balance
0% - 10% 1.1%
December 31, 2021Fair ValueValuation TechniqueUnobservable InputsRange (Weighted-Average)
State and municipal securities$5,456 Discounted cash flowMaturity Call Date
US Muni BQ curve
Discount rate
Weighted-average coupon
1 month to 15 years
A- to BBB-
0.75% - 4%
3.7%

Corporate obligations and U.S. Government-sponsored mortgage backed securities$35 Discounted cash flowRisk free rate
plus Premium for illiquidity
Weighted-average coupon
3 month LIBOR
plus 200bps
0%
Collateral dependent loans$24,491 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability
Weighted-average discount by loan balance
0% - 10% 5.5%
Other real estate owned$96 AppraisalsDiscount to reflect current market conditions
Weighted-average discount of other real estate owned balance
0% - 44% 43.5%
Schedule of Estimated Fair Values of Financial Instruments
The following table presents estimated fair values of the Corporation's financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2022 and 2021.
 2022
 Carrying
Amount
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Assets at December 31:   
Cash and due from banks$122,594 $122,594 $— $— 
Interest-bearing deposits126,061 126,061 — — 
Investment securities available for sale1,976,661 2,459 1,970,763 3,439 
Investment securities held to maturity2,287,127 — 1,893,271 14,594 
Loans held for sale9,094 — 9,094 — 
Loans11,780,617 — — 11,156,217 
Federal Home Loan Bank stock38,525 — 38,525 — 
Derivative assets93,036 — 93,036 — 
Interest receivable85,070 — 85,070 — 
Liabilities at December 31:
Deposits$14,382,745 $13,105,936 $1,251,017 $— 
Borrowings:
Federal funds purchased171,560 — 171,560 — 
Securities sold under repurchase agreements167,413 — 167,396 — 
Federal Home Loan Bank advances823,674 — 615,211 — 
Subordinated debentures and other borrowings151,298 — 122,102 — 
Derivative liabilities92,770 — 92,770 — 
Interest payable7,530 — 7,530 — 


 2021
 Carrying
Amount
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Assets at December 31:   
Cash and due from banks$167,146 $167,146 $— $— 
Interest-bearing deposits474,154 474,154 — — 
Investment securities available for sale2,344,551 999 2,338,061 5,491 
Investment securities held to maturity2,179,802 — 2,188,600 13,903 
Loans held for sale11,187 — 11,187 — 
Loans9,046,464 — — 9,068,319 
Federal Home Loan Bank stock28,736 — 28,736 — 
Interest rate swap asset41,133 — 41,133 — 
Interest receivable57,187 — 57,187 — 
Liabilities at December 31:
Deposits$12,732,577 $12,038,992 $690,089 $— 
Borrowings:
Securities sold under repurchase agreements181,577 — 181,572 — 
Federal Home Loan Bank advances334,055 — 337,005 — 
Subordinated debentures and other borrowings118,618 — 107,892 — 
Interest rate swap liability41,968 — 41,968 — 
Interest payable2,762 — 2,762 —