Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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)
June 30, 2023
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	225,601	$	—	$	225,601	$	—
Mortgage-backed securities:
U.S. Government agencies	1,158,458		—		1,158,458		—
Private label	6,790		—		4,712		2,078
Trust preferred securities	4,192		—		4,192		—
Corporate securities	24,892		—		24,892		—
Marketable equity securities	7,637		3,551		4,086		—
Certificates of deposit held for investment	249		—		249		—
Derivative assets	77,148		—		77,148		—
Financial Liabilities
Derivative liabilities	59,270		—		59,270		—
Nonrecurring fair value measurements
Non-Financial Assets
Other real estate owned	874		—		—		874		29
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
June 30, 2023
Assets:
Cash and cash equivalents	$	231,281	$	231,281	$	231,281	$	—	$	—
Securities available-for-sale	1,419,933		1,419,933		—		1,417,855		2,078
Marketable equity securities	7,637		7,637		3,551		4,086		—
Net loans	3,899,391		3,754,410		—		—		3,754,410
Accrued interest receivable	17,973		17,973		17,973		—		—
Derivative assets	77,148		77,148		—		77,148		—
Liabilities:
Deposits	5,015,063		4,577,560		3,641,957		935,603		—
Customer repurchase agreements	271,714		271,714		—		271,714		—
Long-term debt	100,000		100,000		—		100,000		—
Accrued interest payable	2,781		2,781		2,781		—		—
Derivative liabilities	59,270		59,270		—		59,270		—
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	65,057		65,057		—		65,057		—