Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring And Nonrecurring Basis

The following table presents assets and liabilities measured at fair value (in thousands):

	Total		Level 1		Level 2		Level 3		Total Gains (Losses)
March 31, 2023
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	228,874	$	—	$	228,874	$	—
Mortgage-backed securities:
U.S. Government agencies	1,191,960		—		1,191,960		—
Private label	7,153		—		4,815		2,338
Trust preferred securities	4,125		—		4,125		—
Corporate securities	24,147		—		24,147		—
Marketable equity securities	7,930		3,770		4,160		—
Certificates of deposit held for investment	498		—		498		—
Derivative assets	66,820		—		66,820		—
Financial Liabilities
Derivative liabilities	52,159		—		52,159		—
Nonrecurring fair value measurements
Non-Financial Assets
Other real estate owned	843		—		—		843		(141)
December 31, 2022
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	268,315	$	—	$	268,315	$	—
Mortgage-backed securities:
U.S. Government agencies	1,202,279		—		1,202,279		—
Private label	7,231		—		4,772		2,459
Trust preferred securities	3,828		—		3,828		—
Corporate securities	23,867		—		23,867		—
Marketable equity securities	7,569		3,851		3,718		—
Certificates of deposit held for investment	747		—		747		—
Derivative assets	81,838		—		81,838		—
Financial Liabilities
Derivative liabilities	65,056		—		65,056		—
Nonrecurring fair value measurements
Non-Financial Assets
Other real estate owned	909		—		—		909		(90)

Schedule Of Estimates Of Fair Value Of Financial Instruments

The following table represents the estimates of fair value of financial instruments (in thousands). For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as noninterest-bearing demand, interest-bearing demand and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.

	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
March 31, 2023
Assets:
Cash and cash equivalents	$	302,810	$	302,810	$	302,810	$	—	$	—
Securities available-for-sale	1,456,259		1,456,259		—		1,453,921		2,338
Marketable equity securities	7,930		7,930		3,770		4,160		—
Net loans	3,871,962		3,735,004		—		—		3,735,004
Accrued interest receivable	18,395		18,395		18,395		—		—
Derivative assets	66,820		66,820		—		66,820		—
Liabilities:
Deposits	5,136,765		5,113,715		4,174,530		939,185		—
Short-term debt	293,256		293,256		—		293,256		—
Accrued interest payable	1,585		1,585		1,585		—		—
Derivative liabilities	52,159		52,159		—		52,159		—
December 31, 2022
Assets:
Cash and cash equivalents	$	200,000	$	200,000	$	200,000	$	—	$	—
Securities available-for-sale	1,505,520		1,505,520		—		1,503,061		2,459
Marketable equity securities	7,569		7,569		3,851		3,718		—
Net loans	3,629,150		3,491,318		—		—		3,491,318
Accrued interest receivable	18,287		18,287		18,287		—		—
Derivative assets	81,838		81,838		—		81,838		—
Liabilities:
Deposits	4,869,866		4,867,883		3,981,766		886,117		—
Short-term debt	290,964		290,964		—		290,964		—
Accrued interest payable	953		953		953		—		—
Derivative liabilities	65,056		65,056		—		65,056		—