0000712534-23-000294 | 10-Q | XBRL Viewer

ACQUISITIONS

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Level One Bancorp, Inc.

On April 1, 2022, the Corporation acquired 100 percent of Level One Bancorp, Inc. ("Level One"). Level One, a Michigan corporation, merged with and into the Corporation (the "Merger"), whereupon the separate corporate existence of Level One ceased and the Corporation survived. Immediately following the Merger, Level One's wholly owned subsidiary, Level One Bank, merged with and into the Bank, with the Bank as the surviving bank.

Level One was headquartered in Farmington Hills, Michigan and had 17 banking centers serving the Michigan market. Pursuant to the merger agreement, each common shareholder of Level One received, for each outstanding share of Level One common stock held, (a) a 0.7167 share of the Corporation's common stock, and (b) a cash payment of $10.17. The Corporation issued 5.6 million shares of the Corporation's common stock and paid $79.3 million in cash, in exchange for all outstanding shares of Level One common stock.

Additionally, the Corporation issued 10,000 shares of newly created 7.5 percent non-cumulative perpetual preferred stock, with a liquidation preference of $2,500 per share, in exchange for the outstanding Level One Series B preferred stock. Likewise, each outstanding Level One depositary share representing a 1/100th interest in a share of the Level One Series B preferred stock was converted into a depositary share of the Corporation representing a 1/100th interest in a share of its newly issued preferred stock (Nasdaq: FRMEP).

The Corporation engaged in this transaction with the expectation that it would be accretive to income and add to the existing market area in Michigan that has a demographic profile consistent with many of the current Midwest markets served by the Bank. Goodwill resulted from this transaction due to the expected synergies and economies of scale.

Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on assumptions that are subject to change based on the timing of the transaction, the purchase price for the Level One acquisition is detailed in the following table.


	Fair Value
Cash and due from banks	$	217,104

Investment securities available for sale	370,071
Investment securities held to maturity	587
Loans held for sale	7,951
Loans	1,627,423
Allowance for credit losses - loans	(16,599)
Premises and equipment	11,848
Federal Home Loan Bank stock	11,688
Interest receivable	7,188
Cash surrender value of life insurance	30,143
Tax asset, deferred and receivable	16,223
Other assets	41,690
Deposits	(1,930,790)
Securities sold under repurchase agreements	(1,521)
Federal Home Loan Bank advances	(160,043)
Subordinated debentures	(32,631)
Interest payable	(1,065)
Other liabilities	(42,813)
Net tangible assets acquired	156,454
Other intangibles	18,642
Goodwill	166,617
Purchase price	$	341,713

The Corporation performed an evaluation of the loan portfolio in which there were loans that, at acquisition, had more than an insignificant amount of credit quality deterioration and were classified as purchased credit deteriorated ("PCD"). Details of the PCD loans are included in NOTE 4. LOANS AND ALLOWANCE of these Notes to Consolidated Condensed Financial Statements.

Of the total purchase price, $18.6 million has been allocated to other intangible assets. Approximately $17.2 million was allocated to a core deposit intangible, which will be amortized over its estimated life of 10 years. Approximately $1.4 million was allocated to a non-compete intangible, which will be amortized over its estimated life of 2 years. The remaining purchase price has been allocated to goodwill, which is not deductible for tax purposes.

Pro Forma Financial Information

The results of operations of Level One have been included in the Corporation's consolidated financial statements since the acquisition date. The following schedule includes pro forma results for the year ended December 31, 2022 as if the Level One acquisition occurred as of the beginning of the period presented.


	2022
Total revenue (net interest income plus other income)	$	654,313
Net income	$	221,631
Net income available to common stockholders	$	219,756
Earnings per common share:
Basic	$	3.72
Diluted	$	3.70

The pro forma information includes adjustments for interest income on loans and investment securities, interest expense on deposits and borrowings, premises expense for the banking centers acquired and amortization of intangibles arising from the transaction and the related income tax effects. The pro forma information includes operating revenue of $56.9 million from Level One since the date of acquisition, $16.8 million of provision expense related to CECL Day 1 adjustments for PCD loans, and $16.5 million of acquisition-related expenses. The pro forma information is presented for information purposes only and is not indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of January 1, 2022, nor is it intended to be a projection of future results.

LOANS AND ALLOWANCE - Amounts of Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Loan commitments to extend credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amounts of commitments	$ 5,074,572	$ 4,950,724
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amounts of commitments	$ 39,812	$ 40,784

INVESTMENT SECURITIES - Gross Gains and Losses on Sales and Redemptions of Available for Sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Sales and redemptions of investment securities available for sale:
Gross gains	$ 0	$ 495	$ 759	$ 1,176
Gross losses	(1,650)	(14)	(5,372)	(39)
Net gains (losses) on sales and redemptions of investment securities available for sale	$ (1,650)	$ 481	$ (4,613)	$ 1,137

NET INCOME PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Summary of Reconciliation of Basic and Diluted Net Income Per Share

The following tables reconcile basic and diluted net income per common share for the three and nine months ended September 30, 2023 and 2022.


	Three Months Ended September 30,
	2023					2022
	Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount		Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount
Net income available to common stockholders	$	55,898	59,335,877	$	0.95	$	63,283	59,096,688	$	1.08
Effect of potentially dilutive stock options and restricted stock awards			166,648					242,041
Diluted net income per common share	$	55,898	59,502,525	$	0.94	$	63,283	59,338,729	$	1.08



	Nine Months Ended September 30,

	2023					2022
	Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount		Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount
Net income available to common stockholders	$	179,901	59,272,401	$	3.04	$	150,391	57,200,843	$	2.63
Effect of potentially dilutive stock options and restricted stock awards			192,997					266,716
Diluted net income per common share	$	179,901	59,465,398	$	3.03	$	150,391	57,467,559	$	2.62

LOANS AND ALLOWANCE

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

LOANS AND ALLOWANCE

Loan Portfolio and Credit Quality

The Corporation's primary lending focus is small business and middle market commercial, commercial real estate, public finance and residential real estate, which results in portfolio diversification. The following tables show the composition of the loan portfolio and credit quality characteristics by collateral classification, excluding loans held for sale. Loans held for sale at September 30, 2023 and December 31, 2022, were $31.0 million and $9.1 million, respectively.

The following table illustrates the composition of the Corporation’s loan portfolio by loan class as of the dates indicated:


	September 30, 2023		December 31, 2022

Commercial and industrial loans	$	3,490,953	$	3,437,126
Agricultural land, production and other loans to farmers	233,838		241,793
Real estate loans:
Construction	1,022,261		835,582
Commercial real estate, non-owner occupied	2,360,596		2,407,475
Commercial real estate, owner occupied	1,153,707		1,246,528
Residential	2,257,385		2,096,655
Home equity	609,352		630,632
Individuals' loans for household and other personal expenditures	176,523		175,211
Public finance and other commercial loans	966,807		932,892
Loans	$	12,271,422	$	12,003,894

Credit Quality

As part of the ongoing monitoring of the credit quality of the Corporation's loan portfolio, management tracks certain credit quality indicators including trends related to: (i) the level of criticized commercial loans, (ii) net charge-offs, (iii) nonperforming loans, (iv) covenant failures and (v) the general national and local economic conditions.

The Corporation utilizes a risk grading of pass, special mention, substandard, doubtful and loss to assess the overall credit quality of large commercial loans. All large commercial credit grades are reviewed at a minimum of once a year for pass grade loans. Loans with grades below pass are reviewed more frequently depending on the grade. A description of the general characteristics of these grades is as follows:

•Pass - Loans that are considered to be of acceptable credit quality.

•Special Mention - Loans which possess some credit deficiency or potential weakness, which deserves close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Corporation's credit position at some future date. Special mention assets are not adversely classified and do not expose the Corporation to sufficient risk to warrant adverse classification.

•Substandard - A substandard loan is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified have a well-defined weakness that jeopardizes the liquidation of the debt. They are characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected.

•Doubtful - Loans that have all of the weaknesses of those classified as Substandard. However, based on currently existing facts, conditions and values, these weaknesses make full collection of principal highly questionable and improbable.

•Loss – Loans that are considered uncollectible and of such little value that continuing to carry them as an asset is not warranted. Loans will be classified as Loss when it is neither practical or desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future.

The following tables summarize the risk grading of the Corporation’s loan portfolio by loan class and by year of origination for the years indicated. Consumer loans are not risk graded. For the purposes of this disclosure, the consumer loans are classified in the following manner: loans that are less than 30 days past due are Pass, loans 30-89 days past due are Special Mention and loans greater than 89 days past due are Substandard. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date.


	September 30, 2023
	Term Loans (amortized cost basis by origination year)												Revolving loans amortized		Revolving loans converted
	2023		2022		2021		2020		2019		Prior		cost basis		to term		Total
Commercial and industrial loans
Pass	$	901,876	$	548,276	$	296,471	$	95,426	$	53,498	$	49,094	$	1,374,146	$	50	$	3,318,837
Special Mention	9,450		11,955		6,428		5,470		114		897		28,202		—		62,516
Substandard	5,902		20,082		16,554		1,959		4,701		1,655		48,890		—		99,743
Doubtful	908		3,945		—		2,149		—		—		2,855		—		9,857

Total Commercial and industrial loans	918,136		584,258		319,453		105,004		58,313		51,646		1,454,093		50		3,490,953
Current period gross write-offs	13,901		508		400		5,588		76		239		—		—		20,712
Agricultural land, production and other loans to farmers
Pass	22,521		38,866		33,059		32,234		13,819		26,251		65,513		—		232,263
Special Mention	—		266		—		—		—		597		—		—		863
Substandard	34		156		—		458		—		64		—		—		712


Total Agricultural land, production and other loans to farmers	22,555		39,288		33,059		32,692		13,819		26,912		65,513		—		233,838
Current period gross write-offs	—		—		—		—		—		—		—		—		—
Real estate loans:
Construction
Pass	362,578		295,563		266,129		14,325		4,047		2,526		11,577		—		956,745
Special Mention	35,063		424		—		20,846		—		—		—		—		56,333
Substandard	13		3,882		5,288		—		—		—		—		—		9,183


Total Construction	397,654		299,869		271,417		35,171		4,047		2,526		11,577		—		1,022,261
Current period gross write-offs	—		—		—		—		—		—		—		—		—
Commercial real estate, non-owner occupied
Pass	214,579		529,237		533,207		471,278		142,636		225,787		31,615		—		2,148,339
Special Mention	64,871		22,956		7,842		3,641		26,567		32,842		47		—		158,766
Substandard	18,666		9,807		92		22,216		—		2,339		247		—		53,367
Doubtful	—		124		—		—		—		—		—		—		124

Total Commercial real estate, non-owner occupied	298,116		562,124		541,141		497,135		169,203		260,968		31,909		—		2,360,596
Current period gross write-offs	—		2		—		—		—		—		—		—		2
Commercial real estate, owner occupied
Pass	119,212		207,077		270,151		269,190		101,546		87,685		27,327		—		1,082,188
Special Mention	5,178		13,603		9,437		6,053		2,831		5,110		334		—		42,546
Substandard	15,113		1,339		4,228		2,486		17		5,163		627		—		28,973


Total Commercial real estate, owner occupied	139,503		222,019		283,816		277,729		104,394		97,958		28,288		—		1,153,707
Current period gross write-offs	—		—		—		—		2		—		—		—		2
Residential
Pass	332,210		691,941		451,830		372,247		105,548		265,879		4,878		65		2,224,598
Special Mention	1,087		5,304		4,034		1,710		1,578		6,501		2,588		—		22,802
Substandard	357		3,338		2,234		974		528		2,523		31		—		9,985


Total Residential	333,654		700,583		458,098		374,931		107,654		274,903		7,497		65		2,257,385
Current period gross write-offs	—		42		135		3		—		63		—		—		243
Home equity
Pass	9,155		34,784		64,438		11,511		1,162		4,566		472,517		2,065		600,198
Special Mention	120		720		41		1,114		—		168		4,108		371		6,642
Substandard	63		—		599		—		—		93		1,374		383		2,512


Total Home Equity	9,338		35,504		65,078		12,625		1,162		4,827		477,999		2,819		609,352
Current period gross write-offs	—		160		182		149		193		1,422		—		—		2,106
Individuals' loans for household and other personal expenditures
Pass	32,590		52,860		31,275		8,070		2,735		6,572		40,907		597		175,606
Special Mention	29		388		250		34		11		11		193		1		917
Substandard	—		—		—		—		—		—		—		—		—


Total Individuals' loans for household and other personal expenditures	32,619		53,248		31,525		8,104		2,746		6,583		41,100		598		176,523
Current period gross write-offs	98		591		291		77		57		151		—		—		1,265
Public finance and other commercial loans
Pass	61,235		209,069		206,637		157,399		91,705		231,931		8,831		—		966,807




Total Public finance and other commercial loans	61,235		209,069		206,637		157,399		91,705		231,931		8,831		—		966,807
Loans	$	2,212,810	$	2,705,962	$	2,210,224	$	1,500,790	$	553,043	$	958,254	$	2,126,807	$	3,532	$	12,271,422
Total current period gross charge-offs	$	13,999	$	1,303	$	1,008	$	5,817	$	328	$	1,875	$	—	$	—	$	24,330


	December 31, 2022
	Term Loans (amortized cost basis by origination year)												Revolving loans amortized		Revolving loans converted
	2022		2021		2020		2019		2018		Prior		cost basis		to term		Total
Commercial and industrial loans
Pass	$	1,064,687	$	531,504	$	141,985	$	114,999	$	43,136	$	45,310	$	1,302,562	$	5,048	$	3,249,231
Special Mention	2,164		18,005		11,900		5,727		1,012		2,181		27,702		150		68,841
Substandard	27,512		26,571		5,531		10,606		4,674		567		43,450		143		119,054


Total Commercial and industrial loans	1,094,363		576,080		159,416		131,332		48,822		48,058		1,373,714		5,341		3,437,126
Agricultural land, production and other loans to farmers
Pass	44,446		36,299		35,791		15,296		3,752		28,910		73,402		—		237,896
Special Mention	286		784		—		—		281		632		—		—		1,983
Substandard	178		—		490		—		94		1,152		—		—		1,914


Total Agricultural land, production and other loans to farmers	44,910		37,083		36,281		15,296		4,127		30,694		73,402		—		241,793
Real estate loans:
Construction
Pass	366,414		301,986		117,541		11,428		857		3,224		17,167		—		818,617
Special Mention	16,922		—		—		—		—		—		—		—		16,922
Substandard	31		—		—		—		—		12		—		—		43


Total Construction	383,367		301,986		117,541		11,428		857		3,236		17,167		—		835,582
Commercial real estate, non-owner occupied
Pass	560,146		603,254		550,605		168,701		116,859		190,264		31,196		3,803		2,224,828
Special Mention	49,439		4,026		38,268		18,785		11,546		17,992		—		—		140,056
Substandard	21,123		8,128		8,026		—		4,442		872		—		—		42,591


Total Commercial real estate, non-owner occupied	630,708		615,408		596,899		187,486		132,847		209,128		31,196		3,803		2,407,475
Commercial real estate, owner occupied
Pass	260,725		316,665		330,441		114,015		63,816		81,286		33,123		3,378		1,203,449
Special Mention	7,744		6,125		2,245		3,481		1,210		2,984		1,328		—		25,117
Substandard	3,124		1,214		2,376		1,608		2,920		6,720		—		—		17,962


Total Commercial real estate, owner occupied	271,593		324,004		335,062		119,104		67,946		90,990		34,451		3,378		1,246,528
Residential
Pass	758,161		489,301		401,353		114,420		77,768		229,812		5,365		46		2,076,226
Special Mention	2,839		2,924		1,972		513		396		2,588		34		—		11,266
Substandard	1,399		1,824		1,811		805		1,468		1,741		60		55		9,163


Total Residential	762,399		494,049		405,136		115,738		79,632		234,141		5,459		101		2,096,655
Home equity
Pass	40,768		75,670		14,621		1,572		1,348		3,325		486,924		281		624,509
Special Mention	—		—		—		—		115		8		3,698		—		3,821
Substandard	—		79		—		—		65		60		2,098		—		2,302


Total Home Equity	40,768		75,749		14,621		1,572		1,528		3,393		492,720		281		630,632
Individuals' loans for household and other personal expenditures
Pass	67,883		43,639		13,025		5,389		5,830		3,775		35,091		—		174,632
Special Mention	178		134		77		33		28		17		16		—		483
Substandard	1		—		3		—		84		8		—		—		96


Total Individuals' loans for household and other personal expenditures	68,062		43,773		13,105		5,422		5,942		3,800		35,107		—		175,211
Public finance and other commercial loans
Pass	187,125		212,702		165,019		98,687		43,760		204,719		20,880		—		932,892




Total Public finance and other commercial loans	187,125		212,702		165,019		98,687		43,760		204,719		20,880		—		932,892
Loans	$	3,483,295	$	2,680,834	$	1,843,080	$	686,065	$	385,461	$	828,159	$	2,084,096	$	12,904	$	12,003,894

Total past due loans equaled $76.3 million as of September 30, 2023 representing a $25.3 million increase from $51.0 million at December 31, 2022. The 30-59 days past due loans decreased $3.2 million from December 31, 2022. The 60-89 days past due loans increased $12.7 million from December 31, 2022 as commercial and industrial, commercial real estate, owner occupied and residential segments increased $2.8 million, $1.2 million and $8.1 million, respectively. The 90 days or more past due loans increased $15.8 million from December 31, 2022 as commercial and industrial, commercial real estate, non-owner occupied and residential segments increased $6.9 million, $5.9 million and $3.1 million, respectively. The tables below show a past due aging of the Corporation’s loan portfolio, by loan class, as of the dates indicated:


	September 30, 2023
	Current		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total		Loans > 90 Days or More Past Due And Accruing
Commercial and industrial loans	$	3,474,368	$	4,005	$	3,224	$	9,356	$	3,490,953	$	12
Agricultural land, production and other loans to farmers	233,811		—		—		27		233,838		—
Real estate loans:
Construction	1,021,537		300		424		—		1,022,261		—
Commercial real estate, non-owner occupied	2,343,002		4,603		1,913		11,078		2,360,596		—
Commercial real estate, owner occupied	1,150,029		2,368		1,225		85		1,153,707		—
Residential	2,227,184		10,884		10,405		8,912		2,257,385		39
Home equity	602,829		2,878		1,325		2,320		609,352		38
Individuals' loans for household and other personal expenditures	175,605		773		145		—		176,523		—

Public finance and other commercial loans	966,774		33		—		—		966,807		—
Loans	$	12,195,139	$	25,844	$	18,661	$	31,778	$	12,271,422	$	89


	December 31, 2022
	Current		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total		Loans > 90 Days or More Past Due And Accruing
Commercial and industrial loans	$	3,429,314	$	4,904	$	434	$	2,474	$	3,437,126	$	1,147
Agricultural land, production and other loans to farmers	241,739		—		—		54		241,793		—
Real estate loans:
Construction	832,716		2,436		418		12		835,582		—
Commercial real estate, non-owner occupied	2,395,495		5,946		881		5,153		2,407,475		264
Commercial real estate, owner occupied	1,241,714		4,495		—		319		1,246,528		—
Residential	2,079,959		8,607		2,278		5,811		2,096,655		—
Home equity	624,543		2,206		1,782		2,101		630,632		326
Individuals' loans for household and other personal expenditures	174,629		343		142		97		175,211		—

Public finance and other commercial loans	932,778		114		—		—		932,892		—
Loans	$	11,952,887	$	29,051	$	5,935	$	16,021	$	12,003,894	$	1,737

Loans are reclassified to a nonaccruing status when, in management’s judgment, the collateral value and financial condition of the borrower do not justify accruing interest. At the time the accrual is discontinued, all unpaid accrued interest is reversed against earnings. Interest income accrued in prior years, if any, is charged to the allowance for credit losses. Payments subsequently received on nonaccrual loans are applied to principal. A loan is returned to accrual status when principal and interest are no longer past due and collectability is probable, typically after a minimum of six consecutive months of performance.

The following table summarizes the Corporation’s nonaccrual loans by loan class as of the dates indicated:


	September 30, 2023				December 31, 2022
	Nonaccrual Loans		Nonaccrual Loans with no Allowance for Credit Losses		Nonaccrual Loans		Nonaccrual Loans with no Allowance for Credit Losses
Commercial and industrial loans	$	14,737	$	1,020	$	3,292	$	481
Agricultural land, production and other loans to farmers	61		—		54		—
Real estate loans:
Construction	724		—		12		—
Commercial real estate, non-owner occupied	11,575		11,293		19,374		280
Commercial real estate, owner occupied	3,125		2,314		3,550		2,784
Residential	20,244		—		13,685		702
Home equity	2,534		—		2,247		—
Individuals' loans for household and other personal expenditures	102		—		110		—

Loans	$	53,102	$	14,627	$	42,324	$	4,247

Interest income on nonaccrual loans is recognized only to the extent that cash payments are received in excess of principal due. There was no interest income recognized on nonaccrual loans for the three and nine months ended September 30, 2023 or 2022.

Determining fair value for collateral dependent loans requires obtaining a current independent appraisal of the collateral and applying a discount factor, which includes selling costs if applicable, to the value. The fair value of real estate is generally based on appraisals by qualified licensed appraisers. The appraisers typically determine the value of the real estate by utilizing an income or market valuation approach. If an appraisal is not available, the fair value may be determined by using a cash flow analysis. Fair value on other collateral such as business assets is typically ascertained by assessing, either singularly or some combination of, asset appraisals, accounts receivable aging reports, inventory listings and or customer financial statements. Both appraised values and values based on borrower’s financial information are discounted as considered appropriate based on age and quality of the information and current market conditions.

The tables below present the amortized cost basis of collateral dependent loans by loan class and their respective collateral type, which are individually evaluated to determine expected credit losses. The total collateral dependent loan balance decreased $9.5 million, primarily related to a $9.4 million decrease in commercial real estate, non-owner occupied for the nine months ended September 30, 2023. The total related allowance balance increased $3.4 million, primarily related to an increase of $6.2 million in commercial and industrial, offset by a $2.0 million decrease in commercial real estate, non-owner occupied for the nine months ended September 30, 2023.


	September 30, 2023
	Commercial Real Estate		Residential Real Estate		Other		Total		Allowance on Collateral Dependent Loans
Commercial and industrial loans	$	—	$	—	$	39,343	$	39,343	$	14,542

Real estate loans:
Construction	—		8		—		8		1
Commercial real estate, non-owner occupied	17,145		—		—		17,145		57
Commercial real estate, owner occupied	10,568		—		—		10,568		—
Residential	—		1,464		—		1,464		235
Home equity	—		227		—		227		31


Loans	$	27,713	$	1,699	$	39,343	$	68,755	$	14,866


	December 31, 2022
	Commercial Real Estate		Residential Real Estate		Other		Total		Allowance on Collateral Dependent Loans
Commercial and industrial loans	$	—	$	—	$	42,101	$	42,101	$	8,367

Real estate loans:
Construction	—		10		—		10		1
Commercial real estate, non-owner occupied	26,534		—		—		26,534		2,064
Commercial real estate, owner occupied	6,986		—		—		6,986		776
Residential	—		2,382		—		2,382		260
Home equity	—		289		—		289		44


Loans	$	33,520	$	2,681	$	42,101	$	78,302	$	11,512

In certain situations, the Corporation may modify the terms of a loan to a debtor experiencing financial difficulty. The modifications may include principal forgiveness, interest rate reductions, payment delays, term extensions or combinations of the above. The following tables present the amortized cost basis of loans at September 30, 2023 that were both experiencing financial difficulty and modified during the three and nine months ended September 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below.


	Three Months Ended September 30, 2023
	Loan Modifications Made to Borrowers Experiencing Financial Difficulty
	Payment Delay		Term Extension		Combination Interest Rate Reduction & Term Extension		Combination Payment Delay & Term Extension		% of Total Class of Financing Receivable
Commercial and industrial loans	$	908	$	7,734	$	134	$	—		0.25	%

Real estate loans:

Commercial real estate, non-owner occupied	—		11,823		—		—			0.50	%
Commercial real estate, owner occupied	—		6,950		—		—			0.60	%

Home equity	—		63		—		—			0.01	%
Individuals' loans for household and other personal expenditures	—		—		—		1			—	%

Total	$	908	$	26,570	$	134	$	1


	Nine Months Ended September 30, 2023
	Loan Modifications Made to Borrowers Experiencing Financial Difficulty
	Payment Delay		Term Extension		Combination Interest Rate Reduction & Term Extension		Combination Payment Delay & Term Extension		% of Total Class of Financing Receivable
Commercial and industrial loans	$	908	$	14,822	$	239	$	—	0.46	%
Agricultural land, production and other loans to farmers	—		34		—		—		0.01	%
Real estate loans:
Construction	—		13		—		—		—	%
Commercial real estate, non-owner occupied	—		11,823		5,942		—		0.75	%
Commercial real estate, owner occupied	5,602		8,642		75		—		1.24	%
Residential	—		—		—		472		0.02	%
Home equity	—		63		—		—		0.01	%
Individuals' loans for household and other personal expenditures	—		—		—		1		—	%

Total	$	6,510	$	35,397	$	6,256	$	473

The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three and nine months ended September 30, 2023.

Three Months Ended September 30, 2023

Financial Effect of Loan Modifications

Payment Delay

Term Extension

Combination Interest Rate Reduction & Term Extension

Combination Payment Delay & Term Extension

Commercial and industrial loans

Provided payment deferrals with weighted average delayed amounts of $24,000.

Extended loans by a weighted average of 8 months

Reduced the weighted average contractual interest rate from 10.75% to 7.62%. Extended loans by a weighted average of 14 months.

Real estate loans:

Commercial real estate, non-owner occupied

Extended loans by a weighted average of 11 months.

Commercial real estate, owner occupied

Extended loans by a weighted average of 4 months.

Residential

Provided payment deferrals with weighted average delayed amounts of $300. Extended loans by a weighted average of 3 months.

Home equity

Extended loans by a weighted average of 5 months.

Nine Months Ended September 30, 2023

Financial Effect of Loan Modifications

Payment Delay

Term Extension

Combination Interest Rate Reduction & Term Extension

Combination Payment Delay & Term Extension

Commercial and industrial loans

Provided payment deferrals with weighted average delayed amounts of $24,000

Extended loans by a weighted average of 8 months.

Reduced the weighted average contractual interest rate from 9.66% to 7.39%. Extended loans by a weighted average of 13 months.

Agricultural land, production and other loans to farmers

Extended loans by a weighted average of 60 months.

Real estate loans:

Construction

Extended loans by a weighted average of 24 months.

Commercial real estate, non-owner occupied

Extended loans by a weighted average of 10 months.

Reduced the weighted average contractual interest rate from 7.81% to 7.40%. Extended loans by a weighted average of 41 months.

Commercial real estate, owner occupied

Provided payment deferrals with weighted average delayed amounts of $4.5 million.

Extended loans by a weighted average of 4 months.

Reduced the weighted average contractual interest rate from 10.25% to 6.61%. Extended loans by a weighted average of 114 months.

Residential

Provided payment deferrals with weighted average delayed amounts $3,400. Extended loans by a weighted average of 3 months.

Home equity

Extended loans by a weighted average of 5 months.

Provided payment deferrals with weighted average delayed amounts $300. Extended loans by a weighted average of 3 months.

The following tables present the amortized cost basis and payment status of loans that were modified during the three and nine months ended September 30, 2023 due to the borrowers experiencing financial difficulty.


	Three Months Ended September 30, 2023
	Payment Status
	Current		30-89 Days Past Due
Commercial and industrial loans	$	8,776	$	—

Real estate loans:

Commercial real estate, non-owner occupied	11,823		—
Commercial real estate, owner occupied	6,950		—

Home equity	63		—
Individuals' loans for household and other personal expenditures	—		1

Total	$	27,612	$	1


	Nine Months Ended September 30, 2023
	Payment Status
	Current		30-89 Days Past Due
Commercial and industrial loans	$	15,863	$	106
Agricultural land, production and other loans to farmers	34		—
Real estate loans:
Construction	13		—
Commercial real estate, non-owner occupied	17,765		—
Commercial real estate, owner occupied	13,157		1,162
Residential	472		—
Home equity	63		—
Individuals' loans for household and other personal expenditures	—		1

Total	$	47,367	$	1,269

Upon the Corporation's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

Purchased Credit Deteriorated Loans

The Corporation acquired Level One on April 1, 2022 and performed an evaluation of the loan portfolio in which there were loans that, at acquisition, had more than an insignificant amount of credit quality deterioration. The carrying amount of those loans is shown in the table below:


	Level One
Purchase price of loans at acquisition	$	41,347
CECL Day 1 PCD ACL	16,599

Par value of acquired loans at acquisition	$	57,946

Allowance for Credit Losses on Loans

The Allowance for Credit Losses on Loans ("ACL - Loans") is a valuation account that is deducted from the amortized cost basis of loans to present the net amount expected to be collected on loans over the contractual term. The ACL - Loans is adjusted by the provision for credit losses, which is reported in earnings, and reduced by charge offs for loans, net of recoveries. Provision for credit losses on loans reflects the totality of actions taken on all loans for a particular period including any necessary increases or decreases in the allowance related to changes in credit loss expectations associated with specific loans or pools of loans. Loans are charged off against the allowance when the uncollectibility of the loan is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged off and expected to be charged off.

The allowance represents the Corporation’s best estimate of current expected credit losses on loans using relevant available information, from internal and external sources, related to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. The current expected credit loss ("CECL") calculation is performed and evaluated quarterly and losses are estimated over the expected life of the loan. The level of the allowance for credit losses is believed to be adequate to absorb all expected future losses inherent in the loan portfolio at the measurement date.

In calculating the allowance for credit losses, the loan portfolio was pooled into ten loan segments with similar risk characteristics. Common characteristics include the type or purpose of the loan, underlying collateral and historical/expected credit loss patterns. In developing the loan segments, the Corporation analyzed the degree of correlation in how loans within each portfolio respond when subjected to varying economic conditions and scenarios as well as other portfolio stress factors.

The expected credit losses are measured over the life of each loan segment utilizing the Probability of Default / Loss Given Default methodology combined with economic forecast models to estimate the current expected credit loss inherent in the loan portfolio. This approach is also leveraged to estimate the expected credit losses associated with unfunded loan commitments incorporating expected utilization rates.

The Corporation sub-segmented certain commercial portfolios by risk level and certain consumer portfolios by delinquency status where appropriate. The Corporation utilized a four-quarter reasonable and supportable economic forecast period followed by a six-quarter, straight-line reversion period to the historical macroeconomic mean for the remaining life of the loans. Econometric modeling was performed using historical default rates and a selection of economic forecast scenarios published by Moody’s to develop a range of estimated credit losses for which to determine the best credit loss estimate within. Macroeconomic factors utilized in the modeling process include the national unemployment rate, BBB US corporate index, CRE price index and the home price index.

The Corporation qualitatively adjusts model results for risk factors that are not inherently considered in the quantitative modeling process, but are nonetheless relevant in assessing the expected credit losses within the loan portfolio. These adjustments may increase or decrease the estimate of expected credit losses based upon the assessed level of risk for each qualitative factor. The various risks that may be considered in making qualitative adjustments include, among other things, the impact of (i) changes in the nature and volume of the loan portfolio, (ii) changes in the existence, growth and effect of any concentrations in credit, (iii) changes in lending policies and procedures, including changes in underwriting standards and practices for collections, write-offs, and recoveries, (iv) changes in the quality of the credit review function, (v) changes in the experience, ability and depth of lending management and staff, and (vi) other environmental factors of a borrower such as regulatory, legal and technological considerations, as well as competition. At CECL adoption, the Corporation established certain qualitative factors that were expected to correlate to losses within the loan portfolio. During a scheduled review of qualitative factors in the third quarter of 2023, the Corporation determined there had been no evidence of correlation to losses for the one qualitative factor that included i) changes in experience, ability and depth of lending management and staff; ii) changes in lending policies and procedures; and iii) changes in the quality of the credit review function. The Corporation decided to refine this qualitative factor by separating it into three individual qualitative factors in order to improve our ability to assess risk for the three different factors and enhance our ability to correlate to losses. The Corporation’s evaluation resulted in an insignificant change to the ACL – Loans estimate.

In some cases, management may determine that an individual loan exhibits unique risk characteristics which differentiate the loan from other loans within the loan segments. In such cases, the loans are evaluated for expected credit losses on an individual basis and excluded from the collective evaluation. Specific reserve allocations of the allowance for credit losses are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower’s industry, among other things. A loan is considered to be collateral dependent when, based upon management's assessment, the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. In such cases, expected credit losses are based on the fair value of the collateral at the measurement date, adjusted for estimated selling costs if satisfaction of the loan depends on the sale of the collateral. The fair value of collateral supporting collateral dependent loans is evaluated on a quarterly basis.

The risk characteristics of the Corporation’s portfolio segments are as follows:

Commercial

Commercial lending is primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the tangible assets being financed such as equipment or real estate or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee. Other loans may be unsecured, secured but under-collateralized or otherwise made on the basis of the enterprise value of an organization. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers.

Commercial real estate

Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Corporation monitors commercial real estate loans based on collateral and risk grade criteria, as well as the levels of owner-occupied versus non-owner occupied loans.

Construction

Construction loans are underwritten utilizing a combination of tools and techniques including feasibility and market studies, independent appraisals and appraisal reviews, absorption and interest rate sensitivity analysis as well as the financial analysis of the developer and all guarantors. Construction loans are monitored by either in house or third party inspectors limiting advances to a percentage of costs or stabilized project value. These loans frequently involve the disbursement of significant funds with the repayment dependent upon the successful completion and, where necessary, the future stabilization of the project. The predominant inherent risk of this portfolio is associated with the borrower's ability to successfully complete a project on time, within budget and stabilize the projected as originally projected.

Consumer and Residential

With respect to residential loans that are secured by 1-4 family residences, which are typically owner occupied, the Corporation generally establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. Home equity loans are secured by a subordinate interest in 1-4 family residences, and consumer loans are secured by consumer assets such as automobiles or recreational vehicles. Some consumer loans, such as small installment loans and certain lines of credit, are unsecured. Repayment of these loans is primarily dependent on the personal income and credit rating of the borrowers and can also be impacted by changes in property values. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers.

The allowance for credit losses decreased $15.4 million and $17.5 million, due to net charge-offs during the three and nine months ended September 30, 2023, respectively. There were two large commercial and industrial loan charge-offs of $13.7 million and $5.4 million in the third quarter of 2023. These charge-offs, along with related specific reserves, materially represent the entire credit risk on the loans that were idiosyncratic in nature and are not indicative of a larger portfolio credit issue. There was $5.0 million in provision for credit losses during the three and nine months ended September 30, 2023. The allowance for credit losses increased $427,000 and $31.3 million for the three and nine months ended September 30, 2022, respectively. The increase for the nine months ended September 30, 2022 was primarily due to $16.6 million of allowance for credit losses on PCD loans acquired in the Level One acquisition established through accounting adjustments on the acquisition date. In addition, $14.0 million was recorded to establish an allowance for credit losses on non-PCD loans acquired in the Level One acquisition. The following tables summarize changes in the allowance for credit losses by loan segment for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30, 2023
	Commercial		Commercial Real Estate		Construction		Consumer & Residential		Total
Allowance for credit losses
Balances, June 30, 2023	$	108,373	$	39,157	$	30,073	$	43,544	$	221,147



Provision for credit losses	3,020		4,901		140		(3,061)		5,000


Recoveries on loans	179		—		—		367		546
Loans charged off	(19,833)		—		—		(1,078)		(20,911)
Balances, September 30, 2023	$	91,739	$	44,058	$	30,213	$	39,772	$	205,782



	Nine Months Ended September 30, 2023
	Commercial		Commercial Real Estate		Construction		Consumer & Residential		Total
Allowance for credit losses
Balances, December 31, 2022	$	102,216	$	46,839	$	28,955	$	45,267	$	223,277
Provision for credit losses	9,460		(2,833)		1,258		(2,885)		5,000


Recoveries on loans	775		56		—		1,004		1,835
Loans charged off	(20,712)		(4)		—		(3,614)		(24,330)
Balances, September 30, 2023	$	91,739	$	44,058	$	30,213	$	39,772	$	205,782


	Three Months Ended September 30, 2022
	Commercial		Commercial Real Estate		Construction		Consumer & Residential		Total
Allowance for credit losses
Balances, June 30, 2022	$	94,228	$	55,328	$	27,401	$	49,318	$	226,275
Provision for credit losses	10,142		(7,054)		186		(3,274)		—


Recoveries on loans	81		188		824		222		1,315
Loans charged off	(306)		(1)		—		(581)		(888)
Balances, September 30, 2022	$	104,145	$	48,461	$	28,411	$	45,685	$	226,702



	Nine Months Ended September 30, 2022
	Commercial		Commercial Real Estate		Construction		Consumer & Residential		Total
Allowance for credit losses
Balances, December 31, 2021	$	69,935	$	60,665	$	20,206	$	44,591	$	195,397
Provision for credit losses	18,518		(21,697)		5,862		(2,683)		—
CECL Day 1 non-PCD provision for credit losses	2,957		5,539		871		4,588		13,955
CECL Day 1 PCD ACL	12,970		2,981		648		—		16,599
Recoveries on loans	789		1,096		824		827		3,536
Loans charged off	(1,024)		(123)		—		(1,638)		(2,785)
Balances, September 30, 2022	$	104,145	$	48,461	$	28,411	$	45,685	$	226,702

Off-Balance Sheet Arrangements, Commitments And Contingencies

In the normal course of business, the Corporation has entered into off-balance sheet financial instruments which include commitments to extend credit and standby letters of credit. Commitments to extend credit are usually the result of lines of credit granted to existing borrowers under agreements that the total outstanding indebtedness will not exceed a specific amount during the term of the indebtedness. Typical borrowers are commercial customers that use lines of credit to supplement their treasury management functions, and thus their total outstanding indebtedness may fluctuate during any time period based on the seasonality of their business and the resultant timing for their cash flows. Other typical lines of credit are related to home equity loans granted to customers. Commitments to extend credit generally have fixed expiration dates or other termination clauses that may require a fee.

Standby letters of credit are generally issued on behalf of an applicant (the Corporation’s customer) to a specifically named beneficiary and are the result of a particular business arrangement that exists between the applicant and the beneficiary. Standby letters of credit have fixed expiration dates and are usually for terms of two years or less unless terminated beforehand due to criteria specified in the standby letter of credit. The standby letter of credit would permit the beneficiary to obtain payment from the Corporation under certain prescribed circumstances. Subsequently, the Corporation would seek reimbursement from the applicant pursuant to the terms of the standby letter of credit.

The Corporation typically follows the same credit policies and underwriting practices when making these commitments as it does for on-balance sheet instruments. Each customer’s creditworthiness is typically evaluated on a case-by-case basis, and the amount of collateral obtained, if any, is based on management’s credit evaluation of the customer. Collateral held varies but may include cash, real estate, marketable securities, accounts receivable, inventory, equipment and personal property.

The contractual amounts of these commitments are not reflected in the consolidated financial statements and only amounts drawn upon would be reflected in the future. Since many of the commitments are expected to expire without being drawn upon, the contractual amounts do not necessarily represent future cash requirements. However, should the commitments be drawn upon and should the Corporation’s customers default on their resulting obligation to the Corporation, the maximum exposure to credit loss, without consideration of collateral, is represented by the contractual amount of those commitments.

Financial instruments with off-balance sheet risk were as follows:


	September 30, 2023		December 31, 2022
Amounts of commitments:
Loan commitments to extend credit	$	5,074,572	$	4,950,724
Standby letters of credit	$	39,812	$	40,784

The adoption of the CECL methodology for measuring credit losses on January 1, 2021 resulted in an accrual for off-balance sheet commitments of $20.5 million. The Level One acquisition was responsible for an additional $2.8 million of provision for credit losses associated with off-balance sheet commitments, resulting in a total allowance for credit losses on off-balance sheet commitments of $23.3 million. Reserves for unfunded commitments were reduced by $3.0 million for the three and nine months ended September 30, 2023 due to a decline in unfunded commitment balances, resulting in a decrease in the reserve to $20.3 million. This reserve level is deemed appropriate by the Corporation and is reported in Other Liabilities as of September 30, 2023 in the Consolidated Condensed Balance Sheets.

The table below reflects the total allowance for credit losses for the off-balance sheet commitment for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Balance at beginning of the period	$	23,300	$	23,300	$	23,300	$	20,500

Provision for credit losses - unfunded commitments related to Level One	—		—		—		2,800
Provision for credit losses - unfunded commitments	(3,000)		—		(3,000)		—
Ending balance	$	20,300	$	23,300	$	20,300	$	23,300

LOANS AND ALLOWANCE - Purchased With Credit Deterioration (Details) $ in Thousands	Apr. 01, 2022 USD ($)
Receivables [Abstract]
Purchase price of loans at acquisition	$ 41,347
CECL Day 1 PCD ACL	16,599
Par value of acquired loans at acquisition	$ 57,946

GENERAL	9 Months Ended
GENERAL	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	GENERAL Financial Statement Preparation The Consolidated Condensed Balance Sheet of the Corporation as of December 31, 2022, has been derived from the audited consolidated balance sheet of the Corporation as of that date. Certain information and note disclosures normally included in the Corporation’s annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission. The results of operations for the three and nine months ended September 30, 2023, are not necessarily indicative of the results to be expected for the year. Reclassifications have been made to prior financial statements to conform to the current financial statement presentation. These reclassifications had no effect on net income. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses and fair value of financial instruments. Significant Accounting Policies The significant accounting policies followed by the Corporation and its wholly-owned subsidiaries for interim financial reporting are consistent with the accounting policies followed for annual financial reporting. All adjustments, which are of a normal recurring nature and are in the opinion of management necessary for a fair statement of the results for the periods reported, have been included in the accompanying Consolidated Condensed Financial Statements. Recent Accounting Changes Adopted in 2023 FASB Accounting Standards Updates - No. 2020-04 - Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Summary - The FASB issued ASU No. 2020-04 to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. LIBOR and other interbank offered rates are widely used benchmarks or reference rates in the United States and globally. Trillions of dollars in loans, derivatives, and other financial contracts reference LIBOR, the benchmark interest rate banks use to make short-term loans to each other. With global capital markets expected to move away from LIBOR and other interbank offered rates and move toward rates that are more observable or transaction based and less susceptible to manipulation, the FASB launched a broad project in late 2018 to address potential accounting challenges expected to arise from the transition. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period. With the issuance of ASU 2022-06 - Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, the sunset date for adoption of ASU 2020-04 was extended from December 31, 2022 to December 31, 2024. The Corporation adopted the expedients included in this ASU in the second quarter of 2023 as it transitioned its loans and other financial instruments to another reference rate. FASB Accounting Standards Updates - No. 2021-01 - Reference Rate Reform (Topic 848): Scope Summary - The FASB has published ASU 2021-01, Reference Rate Reform, which clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. If an entity elects to apply any of the amendments in this Update for an eligible hedging relationship, any adjustments as a result of those elections must be reflected as of the date the entity applies the election. With the issuance of ASU 2022-06 - Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, the sunset date for adoption of ASU 2021-01 was extended from December 31, 2022 to December 31, 2024. The Corporation adopted the expedients included in this ASU in the second quarter of 2023 as it transitioned its loans and other financial instruments to another reference rate. FASB Accounting Standards Updates - No. 2021-08 - Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Summary - The FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, that addressed diversity in practice related to the accounting for revenue contracts with customers acquired in a business combination. Under existing GAAP, an acquirer generally recognized assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers and other similar contracts that are accounted for in accordance with Topic 606, Revenue from Contracts with Customers, at fair value on the acquisition date. The FASB indicated that some stakeholders indicated that it is unclear how an acquirer should evaluate whether to recognize a contract liability from a revenue contract with a customer acquired in a business combination after Topic 606 was adopted. Furthermore, it was identified that under current practice, the timing of payment (payment terms) of a revenue contract may subsequently affect the post-acquisition revenue recognized by the acquirer. To address this, the ASU required entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. Finally, the amendments in the ASU improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. For public business entities, the amendments were effective for fiscal years beginning after December 31, 2022, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 31, 2023, including interim periods within those fiscal years. The amendments in this Update are applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption of the amendments was permitted, including adoption in an interim period. An entity that early adopted in an interim period applied the amendments (1) retrospectively to all business combinations for which the acquisition date occurred on or after the beginning of the fiscal year that included the interim period or early application, and (2) prospectively to all business combinations that occurred on or after the date of initial application. The Corporation adopted this guidance on January 1, 2023, but adoption of the standard did not have any impact on the Corporation's financial statements or disclosures. FASB Accounting Standards Updates - No. 2022-02 - Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures Summary - The FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, to improve the usefulness of information provided to investors about certain loan refinancings, restructurings, and writeoffs. Troubled Debt Restructurings ("TDR") by Creditors That Have Adopted CECL During the FASB’s post-implementation review of the credit losses standard, including a May 2021 roundtable, investors and other stakeholders questioned the relevance of the TDR designation and the usefulness of disclosures about those modifications. Some noted that measurement of expected losses under the CECL model already incorporated losses realized from restructurings that are TDRs and that relevant information for investors would be better conveyed through enhanced disclosures about certain modifications. The amendments in the new ASU eliminate the accounting guidance for TDRs by creditors that have adopted CECL while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty. Vintage Disclosures - Gross Writeoffs The disclosure of gross writeoff information by year of origination was cited by numerous investors as an essential input to their analysis. To address this feedback, the amendments in the new ASU require that a public business entity disclose current-period gross writeoffs by year of origination for financing receivables and net investment in leases. For entities that have adopted the amendments in ASU 2016-13, the amendments in this Update were effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Corporation adopted this Update on January 1, 2023 and the new disclosures required in this Update are included in NOTE 4. LOANS AND ALLOWANCE of these Notes to Consolidated Condensed Financial Statements. New Accounting Pronouncements Not Yet Adopted The Corporation continually monitors potential accounting pronouncements and the following pronouncements have been deemed to have the most applicability to the Corporation's financial statements: FASB Accounting Standards Updates - No. 2023-02 - Investments - Equity Method and Joint Ventures (Topic 323) - Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method Summary -The FASB issued ASU No. 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, that is intended to improve the accounting and disclosures for investments in tax credit structures. The ASU is a consensus of the FASB’s Emerging Issues Task Force ("EITF"). The ASU allows reporting entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. The ASU responds to stakeholder feedback that the proportional amortization method provides investors and other allocators of capital with a better understanding of the returns from investments that are made primarily for the purpose of receiving income tax credits and other income tax benefits. Reporting entities were previously permitted to apply the proportional amortization method only to qualifying tax equity investments in low-income housing tax credit (LIHTC) structures. In recent years, stakeholders asked the FASB to extend the application of the proportional amortization method to qualifying tax equity investments that generate tax credits through other programs, which resulted in the EITF addressing this issue. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. The Corporation is assessing the terms of this guidance, but adoption of the standard is not expected to have a significant impact on the Corporation's financial statements or disclosures.

ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Apr. 01, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 712,002	$ 712,002		$ 545,385
Level One
Business Acquisition [Line Items]
Cash and due from banks			$ 217,104
Investment securities available for sale			370,071
Investment securities held to maturity			587
Loans held for sale			7,951
Loans			1,627,423
Allowance for credit losses - loans			(16,599)
Premises and equipment			11,848
Federal Home Loan Bank stock			11,688
Interest receivable			7,188
Cash surrender value of life insurance			30,143
Tax asset, deferred and receivable			16,223
Other assets			41,690
Deposits			(1,930,790)
Securities sold under repurchase agreements			(1,521)
Federal Home Loan Bank advances			(160,043)
Subordinated debentures			(32,631)
Interest payable			(1,065)
Other liabilities			(42,813)
Net tangible assets acquired			156,454
Other intangibles			18,642
Goodwill			166,617
Purchase price			$ 341,713

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Preferred Stock Cumulative Preferred Stock	Preferred Stock Non-Cumulative Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2021		125	0	53,410,411
Beginning balance at Dec. 31, 2021	$ 1,912,571	$ 125	$ 0	$ 6,676	$ 985,818	$ 864,839	$ 55,113
Comprehensive income (loss):
Net income	151,329					151,329
Other comprehensive (loss) income, net of tax	(369,202)						(369,202)
Cash dividends on preferred stock	(938)					(938)
Cash dividends on common stock	(53,688)					(53,688)
Issuance of common stock related to acquisition (in shares)			10,000	5,588,962
Issuance of stock related to acquisition	262,389		$ 25,000	$ 699	236,690
Share-based compensation (in shares)				112,443
Share-based compensation	3,430			$ 14	3,416
Stock issued under employee benefit plans (in shares)				15,072
Stock issued under employee benefit plans	520			$ 2	518
Stock issued under dividend reinvestment and stock purchase plan (in shares)				37,693
Stock issued under dividend reinvestment and stock purchase plan	1,536			$ 5	1,531
Stock options exercised (in shares)				20,095
Stock options exercised	336			$ 3	333
Restricted shares withheld for taxes (in shares)				(39,262)
Restricted shares withheld for taxes	(1,617)			$ (6)	(1,611)
Ending balance (in shares) at Sep. 30, 2022		125	10,000	59,145,414
Ending balance at Sep. 30, 2022	1,906,666	$ 125	$ 25,000	$ 7,393	1,226,695	961,542	(314,089)
Beginning balance (in shares) at Jun. 30, 2022		125	10,000	59,059,866
Beginning balance at Jun. 30, 2022	1,977,641	$ 125	$ 25,000	$ 7,383	1,226,378	917,311	(198,556)
Comprehensive income (loss):
Net income	63,752					63,752
Other comprehensive (loss) income, net of tax	(115,533)						(115,533)
Cash dividends on preferred stock	(469)					(469)
Cash dividends on common stock	(19,052)					(19,052)
Share-based compensation (in shares)				105,409
Share-based compensation	1,186			$ 13	1,173
Stock issued under employee benefit plans (in shares)				6,017
Stock issued under employee benefit plans	203			$ 1	202
Stock issued under dividend reinvestment and stock purchase plan (in shares)				12,769
Stock issued under dividend reinvestment and stock purchase plan	528			$ 2	526
Restricted shares withheld for taxes (in shares)				(38,647)
Restricted shares withheld for taxes	(1,590)			$ (6)	(1,584)
Ending balance (in shares) at Sep. 30, 2022		125	10,000	59,145,414
Ending balance at Sep. 30, 2022	1,906,666	$ 125	$ 25,000	$ 7,393	1,226,695	961,542	(314,089)
Beginning balance (in shares) at Dec. 31, 2022		125	10,000	59,170,583
Beginning balance at Dec. 31, 2022	2,034,770	$ 125	$ 25,000	$ 7,396	1,228,626	1,012,774	(239,151)
Comprehensive income (loss):
Net income	181,307					181,307
Other comprehensive (loss) income, net of tax	(68,119)						(68,119)
Cash dividends on preferred stock	(1,406)					(1,406)
Cash dividends on common stock	(59,713)					(59,713)
Share-based compensation (in shares)				129,092
Share-based compensation	3,792			$ 16	3,776
Stock issued under employee benefit plans (in shares)				21,661
Stock issued under employee benefit plans	590			$ 3	587
Stock issued under dividend reinvestment and stock purchase plan (in shares)				52,061
Stock issued under dividend reinvestment and stock purchase plan	$ 1,603			$ 7	1,596
Stock options exercised (in shares)	65,025			65,025
Stock options exercised	$ 1,110			$ 8	1,102
Restricted shares withheld for taxes (in shares)				(40,400)
Restricted shares withheld for taxes	(1,290)			$ (5)	(1,285)
Ending balance (in shares) at Sep. 30, 2023		125	10,000	59,398,022
Ending balance at Sep. 30, 2023	2,092,644	$ 125	$ 25,000	$ 7,425	1,234,402	1,132,962	(307,270)
Beginning balance (in shares) at Jun. 30, 2023		125	10,000	59,297,148
Beginning balance at Jun. 30, 2023	2,145,565	$ 125	$ 25,000	$ 7,412	1,233,593	1,097,399	(217,964)
Comprehensive income (loss):
Net income	56,366					56,366
Other comprehensive (loss) income, net of tax	(89,306)						(89,306)
Cash dividends on preferred stock	(468)					(468)
Cash dividends on common stock	(20,335)					(20,335)
Share-based compensation (in shares)				114,435
Share-based compensation	1,360			$ 14	1,346
Stock issued under employee benefit plans (in shares)				8,226
Stock issued under employee benefit plans	210			$ 1	209
Stock issued under dividend reinvestment and stock purchase plan (in shares)				18,524
Stock issued under dividend reinvestment and stock purchase plan	539			$ 3	536
Restricted shares withheld for taxes (in shares)				(40,311)
Restricted shares withheld for taxes	(1,287)			$ (5)	(1,282)
Ending balance (in shares) at Sep. 30, 2023		125	10,000	59,398,022
Ending balance at Sep. 30, 2023	$ 2,092,644	$ 125	$ 25,000	$ 7,425	$ 1,234,402	$ 1,132,962	$ (307,270)

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details)	Sep. 30, 2023 USD ($) loan	Dec. 31, 2022 USD ($) instrument loan
Derivative [Line Items]
Termination value of derivatives in a net liability position	$ 105,000
Derivative collateral posted	$ 0
Derivatives Designated as Hedges \| Derivatives in Cash Flow Hedging Relationships \| Interest rate swaps
Derivative [Line Items]
Number of interest rate derivatives held \| instrument		1
Notional amount of interest rate derivatives		$ 10,000,000
Derivatives Designated as Hedges \| Derivatives in Cash Flow Hedging Relationships \| Interest rate swaps \| Federal Home Loan Bank advances
Derivative [Line Items]
Number of interest rate derivatives held \| loan	1	1
Notional amount of interest rate derivatives	$ 10,000,000

LOANS AND ALLOWANCE - Payment Status (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	$ 27,612	$ 47,367
30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	1	1,269
Commercial and industrial loans \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	8,776	15,863
Commercial and industrial loans \| 30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	0	106
Agricultural land, production and other loans to farmers \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers		34
Agricultural land, production and other loans to farmers \| 30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers		0
Construction \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers		13
Construction \| 30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers		0
Commercial real estate, non-owner occupied \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	11,823	17,765
Commercial real estate, non-owner occupied \| 30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	0	0
Commercial real estate, owner occupied \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	6,950	13,157
Commercial real estate, owner occupied \| 30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	0	1,162
Residential \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers		472
Residential \| 30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers		0
Home equity \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	63	63
Home equity \| 30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	0	0
Individuals' loans for household and other personal expenditures \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	0	0
Individuals' loans for household and other personal expenditures \| 30-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loan Modifications Made to Borrowers	$ 1	$ 1

INVESTMENT SECURITIES

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

INVESTMENT SECURITIES

The following table summarizes the amortized cost, gross unrealized gains and losses and approximate fair value of investment securities available for sale as of September 30, 2023 and December 31, 2022.


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale at September 30, 2023
U.S. Treasury	$	1,737	$	—	$	24	$	1,713
U.S. Government-sponsored agency securities	114,414		—		20,829		93,585
State and municipal	1,217,293		—		244,237		973,056
U.S. Government-sponsored mortgage-backed securities	536,530		—		116,567		419,963
Corporate obligations	12,960		—		1,141		11,819

Total available for sale	$	1,882,934	$	—	$	382,798	$	1,500,136


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale at December 31, 2022
U.S. Treasury	$	2,501	$	—	$	42	$	2,459
U.S. Government-sponsored agency securities	119,154		—		17,192		101,962
State and municipal	1,530,048		438		178,726		1,351,760
U.S. Government-sponsored mortgage-backed securities	608,630		1		100,358		508,273
Corporate obligations	13,014		—		807		12,207

Total available for sale	$	2,273,347	$	439	$	297,125	$	1,976,661

The following table summarizes the amortized cost, gross unrealized gains and losses, approximate fair value and allowance for credit losses on investment securities held to maturity as of September 30, 2023 and December 31, 2022.


	Amortized Cost		Allowance for Credit Losses		Net Carrying Amount		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held to maturity at September 30, 2023
U.S. Government-sponsored agency securities	$	378,706	$	—	$	378,706	$	—	$	78,882	$	299,824
State and municipal	1,107,325		245		1,107,080		14		258,536		848,803
U.S. Government-sponsored mortgage-backed securities	726,302		—		726,302		—		135,163		591,139
Foreign investment	1,500		—		1,500		—		41		1,459
Total held to maturity	$	2,213,833	$	245	$	2,213,588	$	14	$	472,622	$	1,741,225


	Amortized Cost		Allowance for Credit Losses		Net Carrying Amount		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held to maturity at December 31, 2022
U.S. Government-sponsored agency securities	$	392,246	$	—	$	392,246	$	—	$	69,147	$	323,099
State and municipal	1,117,552		245		1,117,307		647		197,064		921,135
U.S. Government-sponsored mortgage-backed securities	776,074		—		776,074		—		113,915		662,159
Foreign investment	1,500		—		1,500		—		28		1,472
Total held to maturity	$	2,287,372	$	245	$	2,287,127	$	647	$	380,154	$	1,907,865

Accrued interest on investment securities available for sale and held to maturity at September 30, 2023 and December 31, 2022 of $23.2 million and $29.5 million, respectively, are included in the Interest Receivable line on the Corporation's Consolidated Condensed Balance Sheets. The total amount of accrued interest is excluded from the amortized cost of available for sale and held to maturity securities presented above.

In determining the allowance for credit losses on investment securities available for sale that are in an unrealized loss position, the Corporation first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through the income statement. For investment securities available for sale that do not meet the aforementioned criteria, the Corporation evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Corporation considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Unrealized losses that have not been recorded through an allowance for credit losses is recognized in other comprehensive income. Adjustments to the allowance are reported in the income statement as a component of the provision for credit loss. The Corporation has made the accounting policy election to exclude accrued interest receivable on investment securities available for sale from the estimate of credit losses. Investment securities available for sale are charged off against the allowance or, in the absence of any allowance, written down through the income statement when deemed uncollectible or when either of the aforementioned criteria regarding intent or requirement to sell is met. The Corporation did not record an allowance for credit losses on its investment securities available for sale as the unrealized losses were attributable to changes in interest rates, not credit quality.

The allowance for credit losses on investment securities held to maturity is a contra asset-valuation account that is deducted from the amortized cost basis of investment securities held to maturity to present the net amount expected to be collected. Investment securities held to maturity are charged off against the allowance when deemed uncollectible. Adjustments to the allowance are reported in the income statement as a component of the provision for credit loss. The Corporation measures expected credit losses on investment securities held to maturity on a collective basis by major security type with each type sharing similar risk characteristics, and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The Corporation has made the accounting policy election to exclude accrued interest receivable on investment securities held to maturity from the estimate of credit losses. With regard to U.S. Government-sponsored agency and mortgage-backed securities, all these securities are issued by a U.S. government-sponsored entity and have an implicit or explicit government guarantee; therefore, no allowance for credit losses has been recorded for these securities. With regard to securities issued by states and municipalities and other investment securities held to maturity, management considers (1) issuer bond ratings, (2) historical loss rates for given bond ratings, (3) the financial condition of the issuer, and (4) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities. Historical loss rates associated with securities having similar grades as those in the Corporation's portfolio have been insignificant. Furthermore, as of September 30, 2023, there were no past due principal and interest payments associated with these securities. At CECL adoption, an allowance for credit losses of $245,000 was recorded on the state and municipal securities classified as held to maturity based on applying the long-term historical credit loss rate, as published by Moody’s, for similarly rated securities. The balance of the allowance for credit losses remained unchanged at $245,000 as of September 30, 2023.

On a quarterly basis, the Corporation monitors the credit quality of investment securities held to maturity through the use of credit ratings. The following table summarizes the amortized cost of investment securities held to maturity at September 30, 2023, aggregated by credit quality indicator.


	Held to Maturity
	State and municipal		Other		Total
Credit Rating:
Aaa	$	114,709	$	70,585	$	185,294
Aa1	153,408		—		153,408
Aa2	181,369		—		181,369
Aa3	133,499		—		133,499
A1	131,310		—		131,310
A2	10,172		—		10,172
A3	10,125		—		10,125

Non-rated	372,733		1,035,923		1,408,656
Total	$	1,107,325	$	1,106,508	$	2,213,833

The following tables summarize, as of September 30, 2023 and December 31, 2022, investment securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security type and length of time in a continuous unrealized loss position.


	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale at September 30, 2023
U.S. Treasury	$	397	$	1	$	1,316	$	23	$	1,713	$	24
U.S. Government-sponsored agency securities	796		3		92,789		20,826		93,585		20,829
State and municipal	86,964		10,369		886,092		233,868		973,056		244,237
U.S. Government-sponsored mortgage-backed securities	11,273		453		408,686		116,114		419,959		116,567
Corporate obligations	—		—		11,788		1,141		11,788		1,141
Total investment securities available for sale	$	99,430	$	10,826	$	1,400,671	$	371,972	$	1,500,101	$	382,798


	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale at December 31, 2022
U.S. Treasury	$	2,459	$	42	$	—	$	—	$	2,459	$	42
U.S. Government-sponsored agency securities	48,940		4,973		53,022		12,219		101,962		17,192
State and municipal	1,177,104		150,096		108,652		28,630		1,285,756		178,726
U.S. Government-sponsored mortgage-backed securities	182,700		16,910		325,455		83,448		508,155		100,358
Corporate obligations	12,176		807		—		—		12,176		807
Total investment securities available for sale	$	1,423,379	$	172,828	$	487,129	$	124,297	$	1,910,508	$	297,125

The following table summarizes investment securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security type and the number of securities in the portfolio as of the dates indicated.


	Gross Unrealized Losses		Number of Securities
Investment securities available for sale at September 30, 2023
U.S. Treasury	$	24	3
U.S. Government-sponsored agency securities	20,829		16
State and municipal	244,237		743
U.S. Government-sponsored mortgage-backed securities	116,567		164
Corporate obligations	1,141		10
Total investment securities available for sale	$	382,798	936


	Gross Unrealized Losses		Number of Securities
Investment securities available for sale at December 31, 2022
U.S. Treasury	$	42	5
U.S. Government-sponsored agency securities	17,192		16
State and municipal	178,726		946
U.S. Government-sponsored mortgage-backed securities	100,358		177
Corporate obligations	807		10
Total investment securities available for sale	$	297,125	1,154

The unrealized losses in the Corporation’s investment portfolio were the result of changes in interest rates and not credit quality. As a result, the Corporation expects to recover the amortized cost basis over the term of the securities. The Corporation does not intend to sell the investments and it is not more likely than not that the Corporation will be required to sell the investments before recovery of their amortized cost basis, which may be maturity.

Certain investment securities available for sale are reported in the financial statements at an amount less than their historical cost as indicated in the table below.


	September 30, 2023			December 31, 2022
Investments available for sale reported at less than historical cost:
Historical cost	$	1,882,899		$	2,207,633
Fair value	1,500,101			1,910,508
Gross unrealized losses	$	382,798		$	297,125
Percent of the Corporation's investments available for sale	99.99		%	96.65		%

In determining the fair value of the investment securities portfolio, the Corporation utilizes a third party for portfolio accounting services, including market value input, for those securities classified as Level 1 and Level 2 in the fair value hierarchy. The Corporation has obtained an understanding of what inputs are being used by the vendor in pricing the portfolio and how the vendor classified these securities based upon these inputs. From these discussions, the Corporation’s management is comfortable that the classifications are proper. The Corporation has gained trust in the data for two reasons: (a) independent spot testing of the data is conducted by the Corporation through obtaining market quotes from various brokers on a periodic basis; and (b) actual gains or losses resulting from the sale of certain securities has proven the data to be accurate over time. Fair value of securities classified as Level 3 in the valuation hierarchy was determined using a discounted cash flow model that incorporated market estimates of interest rates and volatility in markets that have not been active.

The amortized cost and fair value of investment securities available for sale and held to maturity at September 30, 2023 and December 31, 2022, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity are shown separately.


	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity Distribution at September 30, 2023
Due in one year or less	$	3,403	$	3,356	$	9,422	$	9,397
Due after one through five years	27,736		25,266		116,894		106,277
Due after five through ten years	127,442		110,668		134,603		117,134
Due after ten years	1,187,823		940,883		1,226,612		917,278
	1,346,404		1,080,173		1,487,531		1,150,086
U.S. Government-sponsored mortgage-backed securities	536,530		419,963		726,302		591,139

Total investment securities	$	1,882,934	$	1,500,136	$	2,213,833	$	1,741,225


	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity Distribution at December 31, 2022
Due in one year or less	$	2,822	$	2,809	$	13,697	$	13,749
Due after one through five years	11,694		11,265		80,697		76,453
Due after five through ten years	169,729		161,211		147,078		135,027
Due after ten years	1,480,472		1,293,103		1,269,826		1,020,477
	1,664,717		1,468,388		1,511,298		1,245,706
U.S. Government-sponsored mortgage-backed securities	608,630		508,273		776,074		662,159

Total investment securities	$	2,273,347	$	1,976,661	$	2,287,372	$	1,907,865

Securities with a carrying value of approximately $1.7 billion and $941.3 million were pledged at September 30, 2023 and December 31, 2022, respectively, to secure certain deposits and securities sold under repurchase agreements, and for other purposes as permitted or required by law. Pledged securities increased from December 31, 2022 as a result of the Corporation pledging additional securities to the Discount Window at the Federal Reserve Bank to be used as an alternative funding source, if needed.

The book value of securities pledged and available under agreements to repurchase amounted to $187.3 million at September 30, 2023 and $196.7 million at December 31, 2022.

Gross gains and losses on the sales and redemptions of investment securities available for sale for the three and nine months ended September 30, 2023 and 2022 are shown below.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Sales and redemptions of investment securities available for sale:
Gross gains	$	—	$	495	$	759	$	1,176
Gross losses	(1,650)		(14)		(5,372)		(39)

Net gains (losses) on sales and redemptions of investment securities available for sale	$	(1,650)	$	481	$	(4,613)	$	1,137

GOODWILL

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

Goodwill is recorded on the acquisition date of an entity. The Corporation has one year after the acquisition date, the measurement period, to record subsequent adjustments to goodwill for provisional amounts recorded at the acquisition date. The Level One acquisition on April 1, 2022 resulted in $166.6 million of goodwill. Details regarding the Level One acquisition are discussed in NOTE 2. ACQUISITIONS of these Notes to Consolidated Condensed Financial Statements. There have been no changes in goodwill since December 31, 2022. As such, the balance as of September 30, 2023 was $712.0 million.


	2022
Balance, January 1	$	545,385
Goodwill acquired	166,617


Balance, December 31	$	712,002

DERIVATIVE FINANCIAL INSTRUMENTS - Effect of Derivative Financial Instruments on Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Amount of Gain (Loss) Reclassed from Other Comprehensive Income (Loss) into Income (Effective Portion)	$ 0	$ (78)	$ (15)		$ (496)
Derivatives Designated as Hedging Instruments \| Interest rate contracts \| Interest Expense \| Cash Flow Hedging
Derivative [Line Items]
Amount of Gain (Loss) Reclassed from Other Comprehensive Income (Loss) into Income (Effective Portion)	$ 0	$ (78)	$ (15)	$ (496)

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for credit losses	$ 245	$ 245
Investment securities held to maturity - fair value	$ 1,741,225	$ 1,907,865
Common Stock, stated value (in dollars per share)	$ 0.125	$ 0.125
Common Stock, authorized (in shares)	100,000,000	100,000,000
Common Stock, issued (in shares)	59,398,022	59,170,583
Common Stock, outstanding (in shares)	59,398,022	59,170,583
Cumulative Preferred Stock
Preferred Stock, par value (in dollars per share)	$ 1,000	$ 1,000
Preferred Stock, liquidation value (in dollars per share)	$ 1,000	$ 1,000
Preferred Stock, authorized (in shares)	600	600
Preferred Stock, issued (in shares)	125	125
Preferred Stock, outstanding (in shares)	125	125
Series A Preferred Stock
Preferred Stock, par value (in dollars per share)	$ 0	$ 0
Preferred Stock, liquidation value (in dollars per share)	$ 2,500	$ 2,500
Preferred Stock, authorized (in shares)	10,000	10,000
Preferred Stock, issued (in shares)	10,000	10,000
Preferred Stock, outstanding (in shares)	10,000	10,000

OTHER INTANGIBLES (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Core Deposit and Other Intangibles

The carrying basis and accumulated amortization of recognized core deposit intangibles and other intangibles are noted below.


	September 30, 2023		December 31, 2022
Gross carrying amount	$	123,285	$	104,643

Other intangibles acquired	—		18,642

Accumulated amortization	(94,004)		(87,443)

Total core deposit and other intangibles	$	29,281	$	35,842

Summary of Estimated Future Amortization Expense

Estimated future amortization expense is summarized as follows:


	Amortization Expense
2023	$	2,183
2024	7,271
2025	6,028
2026	4,910
2027	3,603
After 2027	5,286
	$	29,281

TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2023

Transfers and Servicing [Abstract]

Summary of Collateral Pledged for All Repurchase Agreements Accounted for as Secured Borrowings

The collateral pledged for all repurchase agreements that are accounted for as secured borrowings as of September 30, 2023 and December 31, 2022 were:


	September 30, 2023
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater Than 90 Days		Total
U.S. Government-sponsored mortgage-backed securities	$	152,537	$	—	$	—	$	—	$	152,537


	December 31, 2022
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater Than 90 Days		Total
U.S. Government-sponsored mortgage-backed securities	$	167,413	$	—	$	—	$	—	$	167,413

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value of Derivative Financial Instruments and Their Classification on Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value
Asset Derivatives	$ 114,541	$ 93,036
Liability Derivatives	114,014	92,770
Other Assets \| Derivatives Not Designated as Hedging Instruments
Notional Amount
Included in other assets	1,398,799	1,204,321
Fair Value
Asset Derivatives	114,541	92,872
Other Liabilities \| Derivatives Not Designated as Hedging Instruments
Notional Amount
Included in other liabilities	1,365,918	1,196,898
Fair Value
Liability Derivatives	114,014	92,770
Interest rate swaps \| Other Assets \| Derivatives Not Designated as Hedging Instruments
Notional Amount
Included in other assets	1,321,737	1,184,866
Fair Value
Asset Derivatives	113,691	92,652
Interest rate swaps \| Other Liabilities \| Derivatives Not Designated as Hedging Instruments
Notional Amount
Included in other liabilities	1,321,737	1,184,866
Fair Value
Liability Derivatives	113,740	92,652
Forward contracts related to mortgage loans to be delivered for sale \| Other Assets \| Derivatives Not Designated as Hedging Instruments
Notional Amount
Included in other assets	66,301	14,406
Fair Value
Asset Derivatives	768	188
Forward contracts related to mortgage loans to be delivered for sale \| Other Liabilities \| Derivatives Not Designated as Hedging Instruments
Notional Amount
Included in other liabilities	14,847	4,483
Fair Value
Liability Derivatives	36	63
Interest rate lock commitments \| Other Assets \| Derivatives Not Designated as Hedging Instruments
Notional Amount
Included in other assets	10,761	5,049
Fair Value
Asset Derivatives	82	32
Interest rate lock commitments \| Other Liabilities \| Derivatives Not Designated as Hedging Instruments
Notional Amount
Included in other liabilities	29,334	7,549
Fair Value
Liability Derivatives	$ 238	$ 55

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends on preferred stock (in dollars per share)	$ 46.88	$ 46.88	$ 140.64	$ 93.76
Cash dividends on common stock (in dollars per share)	$ 0.34	$ 0.32	$ 1.00	$ 0.93

SHARE-BASED COMPENSATION - Components of Awards (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax compensation expense	$ 1,360	$ 1,186	$ 3,792	$ 3,430
Income tax expense (benefit)	(393)	(332)	(968)	(866)
Total share-based compensation expense, net of income taxes	967	854	2,824	2,564
Stock and ESPP Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax compensation expense	35	15	80	64
Income tax expense (benefit)	0	0	(62)	(74)
Total share-based compensation expense, net of income taxes	35	15	18	(10)
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax compensation expense	1,325	1,171	3,712	3,366
Income tax expense (benefit)	(393)	(332)	(906)	(792)
Total share-based compensation expense, net of income taxes	$ 932	$ 839	$ 2,806	$ 2,574

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Topic 718
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-Section 35
-Paragraph 1D
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+ Details

FAIR VALUES OF FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUES OF FINANCIAL INSTRUMENTS

The Corporation used fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The accounting guidance defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820 applies only when other guidance requires or permits assets or liabilities to be measured at fair value; it does not expand the use of fair value in any new circumstances.

As defined in ASC 820, fair value is the price to sell an asset or transfer a liability in an orderly transaction between market participants. It represents an exit price at the measurement date. Market participants are buyers and sellers, who are independent, knowledgeable, and willing and able to transact in the principal (or most advantageous) market for the asset or liability being measured. Current market conditions, including imbalances between supply and demand, are considered in determining fair value. The Corporation values its assets and liabilities in the principal market where it sells the particular asset or transfers the liability with the greatest volume and level of activity. In the absence of a principal market, the valuation is based on the most advantageous market for the asset or liability (i.e., the market where the asset could be sold or the liability transferred at a price that maximizes the amount to be received for the asset or minimizes the amount to be paid to transfer the liability).

Valuation inputs refer to the assumptions market participants would use in pricing a given asset or liability. Inputs can be observable or unobservable. Observable inputs are those assumptions which market participants would use in pricing the particular asset or liability. These inputs are based on market data and are obtained from a source independent of the Corporation. Unobservable inputs are assumptions based on the Corporation’s own information or estimate of assumptions used by market participants in pricing the asset or liability. Unobservable inputs are based on the best and most current information available on the measurement date. All inputs, whether observable or unobservable, are ranked in accordance with a prescribed fair value hierarchy which gives the highest ranking to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest ranking to unobservable inputs for which there is little or no market activity (Level 3). Fair values for assets or liabilities classified as Level 2 are based on one or a combination of the following factors: (i) quoted prices for similar assets; (ii) observable inputs for the asset or liability, such as interest rates or yield curves; or (iii) inputs derived principally from or corroborated by observable market data. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Corporation considers an input to be significant if it drives 10 percent or more of the total fair value of a particular asset or liability.

RECURRING MEASUREMENTS

Assets and liabilities are considered to be measured at fair value on a recurring basis if fair value is measured regularly (i.e., daily, weekly, monthly or quarterly). Recurring valuation occurs at a minimum on the measurement date. Assets and liabilities are considered to be measured at fair value on a nonrecurring basis if the fair value measurement of the instrument does not necessarily result in a change in the amount recorded on the balance sheet. Generally, nonrecurring valuation is the result of the application of other accounting pronouncements which require assets or liabilities to be assessed for impairment and recorded at the lower of cost or fair value. The fair value of assets or liabilities transferred in or out of Level 3 is measured on the transfer date, with any additional changes in fair value subsequent to the transfer considered to be realized or unrealized gains or losses.

Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis and recognized in the

accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy.

Investment Securities

Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury securities. Where significant observable inputs, other than Level 1 quoted prices, are available, securities are classified within Level 2 of the valuation hierarchy. Level 2 securities include U.S. Government-sponsored agency and mortgage-backed securities, state and municipal securities and corporate obligations securities. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy and include state and municipal securities, U.S. Government-sponsored mortgage-backed securities and corporate obligations securities. Level 3 fair value for securities was determined using a discounted cash flow model that incorporated market estimates of interest rates and volatility in markets that have not been active.

Third party vendors compile prices from various sources and may apply such techniques as matrix pricing to determine the value of identical or similar investment securities (Level 2). Matrix pricing is a mathematical technique widely used in the banking industry to value investment securities without relying exclusively on quoted prices for specific investment securities but rather relying on the investment securities’ relationship to other benchmark quoted investment securities. Any investment security not valued based upon the methods above are considered Level 3.

Derivative Financial Agreements

See information regarding the Corporation’s derivative financial agreements in NOTE 7. DERIVATIVE FINANCIAL INSTRUMENTS of these Notes to Consolidated Condensed Financial Statements.

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 September 30, 2023, and December 31, 2022.


			Fair Value Measurements Using:
September 30, 2023	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities:
U.S. Treasury	$	1,713	$	1,713	$	—	$	—
U.S. Government-sponsored agency securities	93,585		—		93,585		—
State and municipal	973,056		—		969,863		3,193
U.S. Government-sponsored mortgage-backed securities	419,963		—		419,959		4
Corporate obligations	11,819		—		11,788		31
Derivative assets	114,541		—		114,541		—
Derivative liabilities	114,014		—		114,014		—


			Fair Value Measurements Using:
December 31, 2022	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities:

U.S. Treasury	$	2,459	$	2,459	$	—	$	—
U.S. Government-sponsored agency securities	101,962		—		101,962		—
State and municipal	1,351,760		—		1,348,356		3,404
U.S. Government-sponsored mortgage-backed securities	508,273		—		508,269		4
Corporate obligations	12,207		—		12,176		31

Derivative assets	93,036		—		93,036		—
Derivative liabilities	92,770		—		92,770		—

Level 3 Reconciliation

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 the three and nine months ended September 30, 2023 and 2022.


	Available for Sale Securities
	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Balance at beginning of the period	$	3,348	$	8,630	$	3,439	$	5,491


Included in other comprehensive income	(30)		29		(28)		(597)
Purchases, issuances and settlements	—		—		—		5,111

Principal payments	(90)		(3,152)		(183)		(4,498)
Ending balance	$	3,228	$	5,507	$	3,228	$	5,507

There were no gains or losses included in earnings that were attributable to the changes in unrealized gains or losses related to assets or

liabilities held at September 30, 2023 or December 31, 2022.

Transfers Between Levels

There were no transfers in or out of Level 3 during the three and nine months ended September 30, 2023 and 2022.

Nonrecurring Measurements

Following is a description of valuation methodologies used for instruments measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy at September 30, 2023, and December 31, 2022.


			Fair Value Measurements Using
September 30, 2023	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Collateral dependent loans	$	50,607	$	—	$	—	$	50,607
Other real estate owned	362		—		—		362


			Fair Value Measurements Using
December 31, 2022	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Collateral dependent loans	$	55,290	$	—	$	—	$	55,290

Collateral Dependent Loans and Other Real Estate Owned

Determining fair value for collateral dependent loans and other real estate requires obtaining a current independent appraisal of the collateral and applying a discount factor, which includes selling costs if applicable, to the value. The fair value of real estate is generally based on appraisals by qualified licensed appraisers. The appraisers typically determine the value of the real estate by utilizing an income or market valuation approach. If an appraisal is not available, the fair value may be determined by using a cash flow analysis. Fair value on other collateral such as business assets is typically ascertained by assessing, either singularly or some combination of, asset appraisals, accounts receivable aging reports, inventory listings and or customer financial statements. Both appraised values and values based on borrower’s financial information are discounted as considered appropriate based on age and quality of the information and current market conditions.

Unobservable (Level 3) Inputs

The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at September 30, 2023 and December 31, 2022.

September 30, 2023

Fair Value

Valuation Technique

Unobservable Inputs

Range (Weighted-Average)

State and municipal securities

3,193

Discounted cash flow

Maturity/Call date

1 month to 15 years

US Muni BQ curve

BBB

Discount rate

4.2% - 5.1%

Weighted-average coupon

3.3%

Corporate obligations and U.S. Government-sponsored mortgage-backed securities

Discounted cash flow

Risk free rate

3 month CME Term SOFR plus 26bps

plus premium for illiquidity (basis points)

plus 200bps

Weighted-average coupon

Collateral dependent loans

50,607

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

0% - 10%

Weighted-average discount by loan balance

4.8%

Other real estate owned

362

Appraisals

Discount to reflect current market conditions

0% - 10%

Weighted-average discount of other real estate owned balance

7.2%

December 31, 2022

Fair Value

Valuation Technique

Unobservable Inputs

Range (Weighted-Average)

State and municipal securities

3,404

Discounted cash flow

Maturity/Call date

1 month to 15 years

US Muni BQ curve

A- to BBB

Discount rate

0.4% - 4%

Weighted-average coupon

3.4%

Corporate obligations and U.S. Government-sponsored mortgage-backed securities

Discounted cash flow

Risk free rate

3 month LIBOR

plus premium for illiquidity (basis points)

plus 200bps

Weighted-average coupon

Collateral dependent loans

55,290

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

0% - 10%

Weighted-average discount by loan balance

1.1%

The following is a discussion of the sensitivity of significant unobservable inputs, the interrelationships between those inputs and other unobservable inputs used in recurring fair value measurement and how those inputs might magnify or mitigate the effect of changes in the unobservable inputs on the fair value measurement.

State and Municipal Securities, Corporate Obligations and U.S. Government-sponsored Mortgage-Backed Securities

The significant unobservable inputs used in the fair value measurement of the Corporation's state and municipal securities, corporate obligations and U.S. Government-sponsored mortgage-backed securities are premiums for unrated securities and marketability discounts. Significant increases or decreases in either of those inputs in isolation would result in a significantly lower or higher fair value measurement. Generally, changes in either of those inputs will not affect the other input.

Fair Value 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 September 30, 2023 and December 31, 2022.


			September 30, 2023
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Carrying Amount		(Level 1)		(Level 2)		(Level 3)		Total Fair Value
Assets:
Cash and due from banks	$	125,173	$	125,173	$	—	$	—	$	125,173
Interest-bearing deposits	348,639		348,639		—		—		348,639
Investment securities available for sale	1,500,136		1,713		1,495,195		3,228		1,500,136
Investment securities held to maturity, net	2,213,588		—		1,730,830		10,395		1,741,225
Loans held for sale	30,972		—		30,972		—		30,972
Loans, net	12,065,640		—		—		11,801,546		11,801,546
Federal Home Loan Bank stock	41,797		—		41,797		—		41,797
Derivative assets	114,541		—		114,541		—		114,541
Interest receivable	90,011		—		90,011		—		90,011
Liabilities:
Deposits	$	14,646,576	$	12,524,202	$	2,104,703	$	—	14,628,905
Borrowings:

Securities sold under repurchase agreements	152,537		—		152,523		—		152,523
Federal Home Loan Bank advances	713,384		—		695,425		—		695,425
Subordinated debentures and other borrowings	158,665		—		135,847		—		135,847
Derivative liabilities	114,014		—		114,014		—		114,014
Interest payable	16,473		—		16,473		—		16,473


			December 31, 2022
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Carrying Amount		(Level 1)		(Level 2)		(Level 3)		Total Fair Value
Assets:
Cash and due from banks	$	122,594	$	122,594	$	—	$	—	$	122,594
Interest-bearing deposits	126,061		126,061		—		—		126,061
Investment securities available for sale	1,976,661		2,459		1,970,763		3,439		1,976,661
Investment securities held to maturity, net	2,287,127		—		1,893,271		14,594		1,907,865
Loans held for sale	9,094		—		9,094		—		9,094
Loans, net	11,780,617		—		—		11,156,217		11,156,217
Federal Home Loan Bank stock	38,525		—		38,525		—		38,525
Derivative assets	93,036		—		93,036		—		93,036
Interest receivable	85,070		—		85,070		—		85,070
Liabilities:
Deposits	$	14,382,745	$	13,105,936	$	1,251,017	$	—	14,356,953
Borrowings:
Federal funds purchased	171,560		—		171,560		—		171,560
Securities sold under repurchase agreements	167,413		—		167,396		—		167,396
Federal Home Loan Bank advances	823,674		—		615,211		—		615,211
Subordinated debentures and other borrowings	151,298		—		122,102		—		122,102
Derivative liabilities	92,770		—		92,770		—		92,770
Interest payable	7,530		—		7,530		—		7,530

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Financial Instruments and Classification on the Balance Sheet

The following table summarizes the Corporation's derivatives designated as hedges:

Asset Derivatives

Liability Derivatives

September 30, 2023

December 31, 2022

September 30, 2023

December 31, 2022

Balance
Sheet
Location

Fair
Value

Balance
Sheet
Location

Fair
Value

Balance
Sheet
Location

Fair
Value

Balance
Sheet
Location

Fair
Value

Cash flow hedges:

Interest rate swaps on borrowings

Other Assets

—

Other Assets

164

Other Liabilities

—

Other Liabilities

—

The table below presents the fair value of the Corporation’s non-designated hedges, as well as their classification on the Balance Sheet, as of September 30, 2023, and December 31, 2022.


	September 30, 2023				December 31, 2022
	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in other assets:
Interest rate swaps	$	1,321,737	$	113,691	$	1,184,866	$	92,652
Forward contracts related to mortgage loans to be delivered for sale	66,301		768		14,406		188
Interest rate lock commitments	10,761		82		5,049		32
Included in other assets	$	1,398,799	$	114,541	$	1,204,321	$	92,872
Included in other liabilities:
Interest rate swaps	$	1,321,737	$	113,740	$	1,184,866	$	92,652
Forward contracts related to mortgage loans to be delivered for sale	14,847		36		4,483		63
Interest rate lock commitments	29,334		238		7,549		55
Included in other liabilities	$	1,365,918	$	114,014	$	1,196,898	$	92,770

Summary of Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)

The amount of gain (loss) recognized in other comprehensive income (loss) is included in the table below for the periods indicated.


Derivatives in Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives (Effective Portion)
	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Interest Rate Products	$	(66)	$	94	$	(179)	$	507

Summary of Effect of Derivative Financial Instruments on the Income Statement

The amount of gain (loss) reclassified from other comprehensive income (loss) into income related to cash flow hedging relationships is included in the table below for the periods indicated.

Derivatives Designated as
Hedging Instruments

Location of Gain (Loss)
Recognized Income on
Derivative

Amount of Gain (Loss) Reclassed from Other Comprehensive Income (Loss) into Income (Effective Portion)

Three Months Ended
September 30, 2023

Three Months Ended
September 30, 2022

Interest rate contracts

Interest Expense

—

(78)

Derivatives Designated as
Hedging Instruments

Location of Gain (Loss)
Recognized Income on
Derivative

Amount of Gain (Loss) Reclassed from Other Comprehensive Income (Loss) into Income (Effective Portion)

Nine Months Ended
September 30, 2023

Nine Months Ended
September 30, 2022

Interest rate contracts

Interest Expense

(15)

(496)

The amount of gain (loss) recognized into income related to non-designated hedging instruments is included in the table below for the periods indicated.


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized Income on Derivative	Amount of Gain (Loss) Recognized into Income on Derivatives
		Three Months Ended September 30, 2023		Three Months Ended September 30, 2022
Forward contracts related to mortgage loans to be delivered for sale	Net gains and fees on sales of loans	$	982	$	237
Interest rate lock commitments	Net gains and fees on sales of loans	(100)		(350)
Total net gain/(loss) recognized in income		$	882	$	(113)



Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized Income on Derivative	Amount of Gain (Loss) Recognized into Income on Derivatives
		Nine Months Ended September 30, 2023		Nine Months Ended September 30, 2022
Forward contracts related to mortgage loans to be delivered for sale	Net gains and fees on sales of loans	$	1,691	$	993
Interest rate lock commitments	Net gains and fees on sales of loans	(133)		(235)
Total net gain/(loss) recognized in income		$	1,558	$	758

DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) Recognized Into Income Related to Non-designated Hedging Instruments (Details) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Amount of Gain (Loss) Recognized into Income on Derivatives	$ 882	$ (113)	$ 1,558	$ 758
Net gains and fees on sales of loans \| Forward contracts related to mortgage loans to be delivered for sale
Derivative [Line Items]
Amount of Gain (Loss) Recognized into Income on Derivatives	982	237	1,691	993
Net gains and fees on sales of loans \| Interest rate lock commitments
Derivative [Line Items]
Amount of Gain (Loss) Recognized into Income on Derivatives	$ (100)	$ (350)	$ (133)	$ (235)

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Summary of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, as of September 30, 2023 and 2022:


	Accumulated Other Comprehensive Income (Loss)
	Unrealized Gains (Losses) on Securities Available for Sale		Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Defined Benefit Plans		Total
Balance at December 31, 2022	$	(234,495)	$	130	$	(4,786)	$	(239,151)
Other comprehensive loss before reclassifications	(71,633)		(142)		—		(71,775)
Amounts reclassified from accumulated other comprehensive income	3,644		12		—		3,656
Period change	(67,989)		(130)		—		(68,119)

Balance at September 30, 2023	$	(302,484)	$	—	$	(4,786)	$	(307,270)


Balance at December 31, 2021	$	59,774	$	(660)	$	(4,001)	$	55,113
Other comprehensive income (loss) before reclassifications	(369,096)		400		—		(368,696)
Amounts reclassified from accumulated other comprehensive income	(898)		392		—		(506)
Period change	(369,994)		792		—		(369,202)

Balance at September 30, 2022	$	(310,220)	$	132	$	(4,001)	$	(314,089)

Summary of Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following tables present the reclassification adjustments out of accumulated other comprehensive income (loss) that were included in net income in the Consolidated Condensed Statements of Income for the three and nine months ended September 30, 2023 and 2022.


	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Three Months Ended September 30,
Details about Accumulated Other Comprehensive Income (Loss) Components	2023		2022		Affected Line Item in the Statements of Income
Unrealized gains (losses) on available for sale securities (1)
Realized securities gains (losses) reclassified into income	$	(1,650)	$	481	Other income - net realized gains (losses) on sales of available for sale securities
Related income tax benefit (expense)	346		(101)		Income tax expense
	$	(1,304)	$	380

Unrealized gains (losses) on cash flow hedges (2)
Interest rate contracts	$	—	$	(78)	Interest expense - subordinated debentures and term loans
Related income tax benefit (expense)	—		16		Income tax expense
	$	—	$	(62)






Total reclassifications for the period, net of tax	$	(1,304)	$	318




	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Nine Months Ended September 30,
Details about Accumulated Other Comprehensive Income (Loss) Components	2023		2022		Affected Line Item in the Statements of Income
Unrealized gains (losses) on available for sale securities (1)
Realized securities gains reclassified into income	$	(4,613)	$	1,137	Other income - net realized gains on sales of available for sale securities
Related income tax benefit (expense)	969		(239)		Income tax expense
	$	(3,644)	$	898

Unrealized gains (losses) on cash flow hedges (2)
Interest rate contracts	$	(15)	$	(496)	Interest expense - subordinated debentures and term loans
Related income tax benefit (expense)	3		104		Income tax expense
	$	(12)	$	(392)






Total reclassifications for the period, net of tax	$	(3,656)	$	506

(1) For additional detail related to unrealized gains (losses) on available for sale securities and related amounts reclassified from accumulated other comprehensive income see NOTE 3. INVESTMENT SECURITIES of these Notes to Consolidated Condensed Financial Statements.

(2) For additional detail related to unrealized gains (losses) on cash flow hedges and related amounts reclassified from accumulated other comprehensive income see NOTE 7. DERIVATIVE FINANCIAL INSTRUMENTS of these Notes to Consolidated Condensed Financial Statements.

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2023	Oct. 26, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity Registrant Name	FIRST MERCHANTS CORP
Entity Incorporation, State or Country Code	IN
Entity File Number	001-41342
Entity Tax Identification Number	35-1544218
Entity Address, Address Line One	200 East Jackson Street
Entity Address, City or Town	Muncie
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47305-2814
City Area Code	765
Local Phone Number	747-1500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,846,922
Entity Central Index Key	0000712534
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock, $0.125 stated value per share
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.125 stated value per share
Trading Symbol	FRME
Security Exchange Name	NASDAQ
Depositary Shares, each representing a 1/100th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series A
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/100th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	FRMEP
Security Exchange Name	NASDAQ

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Pay vs Performance Disclosure
Total reclassifications for the period, net of tax	$ 56,366	$ 63,752	$ 181,307	$ 151,329	$ 151,329

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
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+ Details

ACQUISITIONS - Narrative (Details) $ / shares in Units, $ in Thousands		9 Months Ended		12 Months Ended
	Apr. 01, 2022 USD ($) banking_center $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares
Business Acquisition [Line Items]
Cash paid in acquisition		$ 0	$ 79,324
Series A Preferred Stock
Business Acquisition [Line Items]
Preferred Stock, issued (in shares) \| shares		10,000		10,000
Liquidation value per share (in dollars per share) \| $ / shares		$ 2,500		$ 2,500
Preferred Class B
Business Acquisition [Line Items]
Entity listing, depository receipt ratio	0.01
Preferred Class B \| Level One
Business Acquisition [Line Items]
Entity listing, depository receipt ratio	0.01
Level One
Business Acquisition [Line Items]
Percentage of interest acquired	100.00%
Number of banking centers \| banking_center	17
Exchange ratio	0.7167
Cash payment per share (in dollars per share) \| $ / shares	$ 10.17
Cash paid in acquisition	$ 79,300
Other intangibles	18,642
Operating revenue				$ 56,900
Provision expense related to CECL Day 1 adjustments				16,800
Acquisition-related expenses				$ 16,500
Level One \| Other Intangible Assets
Business Acquisition [Line Items]
Other intangibles	18,600
Level One \| Core Deposits
Business Acquisition [Line Items]
Other intangibles	$ 17,200
Estimated life	10 years
Level One \| Non-compete
Business Acquisition [Line Items]
Other intangibles	$ 1,400
Estimated life	2 years
Level One \| Common Stock
Business Acquisition [Line Items]
Issuance of common stock related to acquisitions (in shares) \| shares	5,600,000
Level One \| Series A Preferred Stock
Business Acquisition [Line Items]
Preferred Stock, issued (in shares) \| shares	10,000
Dividend rate %	7.50%
Liquidation value per share (in dollars per share) \| $ / shares	$ 2,500

TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS (Details) - U.S. Government-sponsored mortgage-backed securities - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets Sold under Agreements to Repurchase [Line Items]
Remaining Contractual Maturity of the Agreements	$ 152,537	$ 167,413
Overnight and Continuous
Assets Sold under Agreements to Repurchase [Line Items]
Remaining Contractual Maturity of the Agreements	152,537	167,413
Up to 30 Days
Assets Sold under Agreements to Repurchase [Line Items]
Remaining Contractual Maturity of the Agreements	0	0
30-90 Days
Assets Sold under Agreements to Repurchase [Line Items]
Remaining Contractual Maturity of the Agreements	0	0
Greater Than 90 Days
Assets Sold under Agreements to Repurchase [Line Items]
Remaining Contractual Maturity of the Agreements	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUMENTS - Corporation's Derivatives Designated as Hedges (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Asset Derivatives	$ 114,541	$ 93,036
Liability Derivatives	114,014	92,770
Interest rate swaps on borrowings \| Derivatives Designated as Hedges \| Other Assets
Derivative [Line Items]
Asset Derivatives	0	164
Interest rate swaps on borrowings \| Derivatives Designated as Hedges \| Other Liabilities
Derivative [Line Items]
Liability Derivatives	$ 0	$ 0

INCOME TAX (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAX (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$ 13,728	$ 15,445	$ 44,589	$ 36,176
Tax-exempt interest income	(4,469)	(4,974)	(13,792)	(14,371)
Share-based compensation	(108)	(79)	(172)	(146)
Tax-exempt earnings and gains on life insurance	(369)	(1,397)	(1,080)	(2,026)
Tax credits	(84)	(122)	(249)	(292)
State Income Tax	254	658	1,474	1,177
Other	53	262	251	420
Actual Tax Expense	$ 9,005	$ 9,793	$ 31,021	$ 20,938
Effective Tax Rate	13.80%	13.30%	14.60%	12.20%

TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

9 Months Ended

Sep. 30, 2023

Transfers and Servicing [Abstract]

TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

The collateral pledged for all repurchase agreements that are accounted for as secured borrowings as of September 30, 2023 and December 31, 2022 were:


	September 30, 2023
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater Than 90 Days		Total
U.S. Government-sponsored mortgage-backed securities	$	152,537	$	—	$	—	$	—	$	152,537


	December 31, 2022
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater Than 90 Days		Total
U.S. Government-sponsored mortgage-backed securities	$	167,413	$	—	$	—	$	—	$	167,413

GOODWILL - Goodwill (Details) $ in Thousands	12 Months Ended
GOODWILL - Goodwill (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 545,385
Goodwill acquired	166,617
Ending balance	$ 712,002

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

FAIR VALUES OF FINANCIAL INSTRUMENTS - Fair Value Measurements of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	$ 1,500,136	$ 1,976,661
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	1,713	2,459
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	1,495,195	1,970,763
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	3,228	3,439
Recurring \| Derivative liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	114,014	92,770
Recurring \| U.S. Treasury
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	1,713	2,459
Recurring \| U.S. Government-sponsored agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	93,585	101,962
Recurring \| State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	973,056	1,351,760
Recurring \| U.S. Government-sponsored mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	419,963	508,273
Recurring \| Corporate obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	11,819	12,207
Recurring \| Derivative assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	114,541	93,036
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Derivative liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. Treasury
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	1,713	2,459
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. Government-sponsored agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. Government-sponsored mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Corporate obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Derivative assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0	0
Recurring \| Significant Other Observable Inputs (Level 2) \| Derivative liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	114,014	92,770
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. Treasury
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	0	0
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. Government-sponsored agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	93,585	101,962
Recurring \| Significant Other Observable Inputs (Level 2) \| State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	969,863	1,348,356
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. Government-sponsored mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	419,959	508,269
Recurring \| Significant Other Observable Inputs (Level 2) \| Corporate obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	11,788	12,176
Recurring \| Significant Other Observable Inputs (Level 2) \| Derivative assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	114,541	93,036
Recurring \| Significant Unobservable Inputs (Level 3) \| Derivative liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. Treasury
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. Government-sponsored agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	3,193	3,404
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. Government-sponsored mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	4	4
Recurring \| Significant Unobservable Inputs (Level 3) \| Corporate obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities available for sale	31	31
Recurring \| Significant Unobservable Inputs (Level 3) \| Derivative assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	$ 0	$ 0

SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

Stock options and RSAs have been issued to directors, officers and other management employees under the Corporation's 2009 Long-term Equity Incentive Plan, the 2019 Long-term Equity Incentive Plan, the Level One Bancorp, Inc. 2007 Stock Option Plan and the Equity Compensation Plan for Non-Employee Directors. The stock options, which have a ten year life, become 100 percent vested based on time ranging from one year to two years and are fully exercisable when vested. Option exercise prices equal the Corporation's common stock closing price on NASDAQ on the date of grant. The RSAs issued to employees and non-employee directors provide for the issuance of shares of the Corporation's common stock at no cost to the holder and generally vest after three years. The RSAs vest only if the employee is actively employed by the Corporation on the vesting date and, therefore, any unvested shares are forfeited. For non-employee directors, the RSAs vest only if the non-employee director remains as an active board member on the vesting date and, therefore, any unvested shares are forfeited. The RSAs for employees and non-employee directors are either immediately vested at retirement, disability or death, or, continue to vest after retirement, disability or death, depending on the plan under which the shares were granted.

The Corporation’s 2019 ESPP provides eligible employees of the Corporation and its subsidiaries an opportunity to purchase shares of common stock of the Corporation through quarterly offerings financed by payroll deductions. The price of the stock to be paid by the employees shall be equal to 85 percent of the average of the closing price of the Corporation’s common stock on each trading day during the offering period. However, in no event shall such purchase price be less than the lesser of an amount equal to 85 percent of the market price of the Corporation’s stock on the offering date or an amount equal to 85 percent of the market value on the date of purchase. Common stock purchases are made quarterly and are paid through advance payroll deductions up to a calendar year maximum of $25,000.

Compensation expense related to unvested share-based awards is recorded by recognizing the unamortized grant date fair value of these awards over the remaining service periods of those awards, with no change in historical reported fair values and earnings. Awards are valued at

fair value in accordance with provisions of share-based compensation guidance and are recognized on a straight-line basis over the service periods of each award. To complete the exercise of vested stock options, RSA’s and ESPP options, the Corporation generally issues new shares from its authorized but unissued share pool. Share-based compensation has been recognized as a component of salaries and benefits expense in the accompanying Consolidated Condensed Statements of Income.

Share-based compensation expense recognized in the Consolidated Condensed Statements of Income is based on awards ultimately expected to vest and is reduced for estimated forfeitures. Share-based compensation guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods, if actual forfeitures differ from those estimates. Pre-vesting forfeitures were estimated to be approximately 0.2 percent for the nine months ended September 30, 2023, based on historical experience.

The following table summarizes the components of the Corporation's share-based compensation awards recorded as an expense and the income tax benefit of such awards.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Stock and ESPP Options
Pre-tax compensation expense	$	35	$	15	$	80	$	64
Income tax expense (benefit)	—		—		(62)		(74)
Stock and ESPP option expense, net of income taxes	$	35	$	15	$	18	$	(10)
Restricted Stock Awards
Pre-tax compensation expense	$	1,325	$	1,171	$	3,712	$	3,366
Income tax expense (benefit)	(393)		(332)		(906)		(792)
Restricted stock awards expense, net of income taxes	$	932	$	839	$	2,806	$	2,574
Total Share-Based Compensation
Pre-tax compensation expense	$	1,360	$	1,186	$	3,792	$	3,430
Income tax expense (benefit)	(393)		(332)		(968)		(866)
Total share-based compensation expense, net of income taxes	$	967	$	854	$	2,824	$	2,564

The grant date fair value of ESPP options was estimated to be approximately $35,000 at the beginning of the July 1, 2023 quarterly offering period. The ESPP options vested during the three months ending September 30, 2023, leaving no unrecognized compensation expense related to unvested ESPP options at September 30, 2023.

Stock option activity under the Corporation's stock option plans as of September 30, 2023 and changes during the nine months ended September 30, 2023, were as follows:


	Number of Shares	Weighted-Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2023	155,100	$	18.89


Exercised	(65,025)	$	17.07

Outstanding September 30, 2023	90,075	$	20.21	2.18	$	685,817
Vested and Expected to Vest at September 30, 2023	90,075	$	20.21	2.18	$	685,817
Exercisable at September 30, 2023	90,075	$	20.21	2.18	$	685,817

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Corporation's closing stock price on the last trading day of the first nine months of 2023 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their stock options on September 30, 2023. The amount of aggregate intrinsic value will change based on the fair market value of the Corporation's common stock.

The aggregate intrinsic value of stock options exercised during the nine months ended September 30, 2023 and 2022 was $1.4 million and $470,000, respectively. Cash receipts of stock options exercised during the same periods were $1.1 million and $336,000, respectively.

The following table summarizes information on unvested RSAs outstanding as of September 30, 2023:


	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested RSAs at January 1, 2023	416,705	$	36.97
Granted	164,034	$	31.67
Vested	(129,092)	$	26.87
Forfeited	(1,700)	$	35.65
Unvested RSAs at September 30, 2023	449,947	$	37.94

As of September 30, 2023, unrecognized compensation expense related to RSAs was $10.4 million and is expected to be recognized over a weighted-average period of 2.0 years. The Corporation did not have any unrecognized compensation expense related to stock options as of September 30, 2023.

FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements of Assets and Liabilities Recognized in the Balance Sheets Measured at Fair Value on Recurring Basis


			Fair Value Measurements Using:
September 30, 2023	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities:
U.S. Treasury	$	1,713	$	1,713	$	—	$	—
U.S. Government-sponsored agency securities	93,585		—		93,585		—
State and municipal	973,056		—		969,863		3,193
U.S. Government-sponsored mortgage-backed securities	419,963		—		419,959		4
Corporate obligations	11,819		—		11,788		31
Derivative assets	114,541		—		114,541		—
Derivative liabilities	114,014		—		114,014		—


			Fair Value Measurements Using:
December 31, 2022	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities:

U.S. Treasury	$	2,459	$	2,459	$	—	$	—
U.S. Government-sponsored agency securities	101,962		—		101,962		—
State and municipal	1,351,760		—		1,348,356		3,404
U.S. Government-sponsored mortgage-backed securities	508,273		—		508,269		4
Corporate obligations	12,207		—		12,176		31

Derivative assets	93,036		—		93,036		—
Derivative liabilities	92,770		—		92,770		—

Summary 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 the three and nine months ended September 30, 2023 and 2022.


	Available for Sale Securities
	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Balance at beginning of the period	$	3,348	$	8,630	$	3,439	$	5,491


Included in other comprehensive income	(30)		29		(28)		(597)
Purchases, issuances and settlements	—		—		—		5,111

Principal payments	(90)		(3,152)		(183)		(4,498)
Ending balance	$	3,228	$	5,507	$	3,228	$	5,507

Summary of Description of Valuation Methodologies Used for Instruments Measured at Fair Value on a Non-Recurring Basis and Recognized in the Balance Sheets


			Fair Value Measurements Using
September 30, 2023	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Collateral dependent loans	$	50,607	$	—	$	—	$	50,607
Other real estate owned	362		—		—		362


			Fair Value Measurements Using
December 31, 2022	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Collateral dependent loans	$	55,290	$	—	$	—	$	55,290

Summary of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements Other than Goodwill

September 30, 2023

Fair Value

Valuation Technique

Unobservable Inputs

Range (Weighted-Average)

State and municipal securities

3,193

Discounted cash flow

Maturity/Call date

1 month to 15 years

US Muni BQ curve

BBB

Discount rate

4.2% - 5.1%

Weighted-average coupon

3.3%

Corporate obligations and U.S. Government-sponsored mortgage-backed securities

Discounted cash flow

Risk free rate

3 month CME Term SOFR plus 26bps

plus premium for illiquidity (basis points)

plus 200bps

Weighted-average coupon

Collateral dependent loans

50,607

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

0% - 10%

Weighted-average discount by loan balance

4.8%

Other real estate owned

362

Appraisals

Discount to reflect current market conditions

0% - 10%

Weighted-average discount of other real estate owned balance

7.2%

December 31, 2022

Fair Value

Valuation Technique

Unobservable Inputs

Range (Weighted-Average)

State and municipal securities

3,404

Discounted cash flow

Maturity/Call date

1 month to 15 years

US Muni BQ curve

A- to BBB

Discount rate

0.4% - 4%

Weighted-average coupon

3.4%

Corporate obligations and U.S. Government-sponsored mortgage-backed securities

Discounted cash flow

Risk free rate

3 month LIBOR

plus premium for illiquidity (basis points)

plus 200bps

Weighted-average coupon

Collateral dependent loans

55,290

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

0% - 10%

Weighted-average discount by loan balance

1.1%

Summary of Estimated Fair Values of Financial Instruments


			September 30, 2023
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Carrying Amount		(Level 1)		(Level 2)		(Level 3)		Total Fair Value
Assets:
Cash and due from banks	$	125,173	$	125,173	$	—	$	—	$	125,173
Interest-bearing deposits	348,639		348,639		—		—		348,639
Investment securities available for sale	1,500,136		1,713		1,495,195		3,228		1,500,136
Investment securities held to maturity, net	2,213,588		—		1,730,830		10,395		1,741,225
Loans held for sale	30,972		—		30,972		—		30,972
Loans, net	12,065,640		—		—		11,801,546		11,801,546
Federal Home Loan Bank stock	41,797		—		41,797		—		41,797
Derivative assets	114,541		—		114,541		—		114,541
Interest receivable	90,011		—		90,011		—		90,011
Liabilities:
Deposits	$	14,646,576	$	12,524,202	$	2,104,703	$	—	14,628,905
Borrowings:

Securities sold under repurchase agreements	152,537		—		152,523		—		152,523
Federal Home Loan Bank advances	713,384		—		695,425		—		695,425
Subordinated debentures and other borrowings	158,665		—		135,847		—		135,847
Derivative liabilities	114,014		—		114,014		—		114,014
Interest payable	16,473		—		16,473		—		16,473


			December 31, 2022
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Carrying Amount		(Level 1)		(Level 2)		(Level 3)		Total Fair Value
Assets:
Cash and due from banks	$	122,594	$	122,594	$	—	$	—	$	122,594
Interest-bearing deposits	126,061		126,061		—		—		126,061
Investment securities available for sale	1,976,661		2,459		1,970,763		3,439		1,976,661
Investment securities held to maturity, net	2,287,127		—		1,893,271		14,594		1,907,865
Loans held for sale	9,094		—		9,094		—		9,094
Loans, net	11,780,617		—		—		11,156,217		11,156,217
Federal Home Loan Bank stock	38,525		—		38,525		—		38,525
Derivative assets	93,036		—		93,036		—		93,036
Interest receivable	85,070		—		85,070		—		85,070
Liabilities:
Deposits	$	14,382,745	$	13,105,936	$	1,251,017	$	—	14,356,953
Borrowings:
Federal funds purchased	171,560		—		171,560		—		171,560
Securities sold under repurchase agreements	167,413		—		167,396		—		167,396
Federal Home Loan Bank advances	823,674		—		615,211		—		615,211
Subordinated debentures and other borrowings	151,298		—		122,102		—		122,102
Derivative liabilities	92,770		—		92,770		—		92,770
Interest payable	7,530		—		7,530		—		7,530

GENERAL (Policies)	9 Months Ended
GENERAL (Policies)	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statement Preparation	Financial Statement PreparationThe Consolidated Condensed Balance Sheet of the Corporation as of December 31, 2022, has been derived from the audited consolidated balance sheet of the Corporation as of that date. Certain information and note disclosures normally included in the Corporation’s annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission. The results of operations for the three and nine months ended September 30, 2023, are not necessarily indicative of the results to be expected for the year. Reclassifications have been made to prior financial statements to conform to the current financial statement presentation. These reclassifications had no effect on net income. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses and fair value of financial instruments.
Recent Accounting Changes Adopted in 2023	Recent Accounting Changes Adopted in 2023 FASB Accounting Standards Updates - No. 2020-04 - Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Summary - The FASB issued ASU No. 2020-04 to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. LIBOR and other interbank offered rates are widely used benchmarks or reference rates in the United States and globally. Trillions of dollars in loans, derivatives, and other financial contracts reference LIBOR, the benchmark interest rate banks use to make short-term loans to each other. With global capital markets expected to move away from LIBOR and other interbank offered rates and move toward rates that are more observable or transaction based and less susceptible to manipulation, the FASB launched a broad project in late 2018 to address potential accounting challenges expected to arise from the transition. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period. With the issuance of ASU 2022-06 - Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, the sunset date for adoption of ASU 2020-04 was extended from December 31, 2022 to December 31, 2024. The Corporation adopted the expedients included in this ASU in the second quarter of 2023 as it transitioned its loans and other financial instruments to another reference rate. FASB Accounting Standards Updates - No. 2021-01 - Reference Rate Reform (Topic 848): Scope Summary - The FASB has published ASU 2021-01, Reference Rate Reform, which clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. If an entity elects to apply any of the amendments in this Update for an eligible hedging relationship, any adjustments as a result of those elections must be reflected as of the date the entity applies the election. With the issuance of ASU 2022-06 - Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, the sunset date for adoption of ASU 2021-01 was extended from December 31, 2022 to December 31, 2024. The Corporation adopted the expedients included in this ASU in the second quarter of 2023 as it transitioned its loans and other financial instruments to another reference rate. FASB Accounting Standards Updates - No. 2021-08 - Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Summary - The FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, that addressed diversity in practice related to the accounting for revenue contracts with customers acquired in a business combination. Under existing GAAP, an acquirer generally recognized assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers and other similar contracts that are accounted for in accordance with Topic 606, Revenue from Contracts with Customers, at fair value on the acquisition date. The FASB indicated that some stakeholders indicated that it is unclear how an acquirer should evaluate whether to recognize a contract liability from a revenue contract with a customer acquired in a business combination after Topic 606 was adopted. Furthermore, it was identified that under current practice, the timing of payment (payment terms) of a revenue contract may subsequently affect the post-acquisition revenue recognized by the acquirer. To address this, the ASU required entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. Finally, the amendments in the ASU improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. For public business entities, the amendments were effective for fiscal years beginning after December 31, 2022, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 31, 2023, including interim periods within those fiscal years. The amendments in this Update are applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption of the amendments was permitted, including adoption in an interim period. An entity that early adopted in an interim period applied the amendments (1) retrospectively to all business combinations for which the acquisition date occurred on or after the beginning of the fiscal year that included the interim period or early application, and (2) prospectively to all business combinations that occurred on or after the date of initial application. The Corporation adopted this guidance on January 1, 2023, but adoption of the standard did not have any impact on the Corporation's financial statements or disclosures. FASB Accounting Standards Updates - No. 2022-02 - Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures Summary - The FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, to improve the usefulness of information provided to investors about certain loan refinancings, restructurings, and writeoffs. Troubled Debt Restructurings ("TDR") by Creditors That Have Adopted CECL During the FASB’s post-implementation review of the credit losses standard, including a May 2021 roundtable, investors and other stakeholders questioned the relevance of the TDR designation and the usefulness of disclosures about those modifications. Some noted that measurement of expected losses under the CECL model already incorporated losses realized from restructurings that are TDRs and that relevant information for investors would be better conveyed through enhanced disclosures about certain modifications. The amendments in the new ASU eliminate the accounting guidance for TDRs by creditors that have adopted CECL while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty. Vintage Disclosures - Gross Writeoffs The disclosure of gross writeoff information by year of origination was cited by numerous investors as an essential input to their analysis. To address this feedback, the amendments in the new ASU require that a public business entity disclose current-period gross writeoffs by year of origination for financing receivables and net investment in leases. For entities that have adopted the amendments in ASU 2016-13, the amendments in this Update were effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Corporation adopted this Update on January 1, 2023 and the new disclosures required in this Update are included in NOTE 4. LOANS AND ALLOWANCE of these Notes to Consolidated Condensed Financial Statements. New Accounting Pronouncements Not Yet Adopted The Corporation continually monitors potential accounting pronouncements and the following pronouncements have been deemed to have the most applicability to the Corporation's financial statements: FASB Accounting Standards Updates - No. 2023-02 - Investments - Equity Method and Joint Ventures (Topic 323) - Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method Summary -The FASB issued ASU No. 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, that is intended to improve the accounting and disclosures for investments in tax credit structures. The ASU is a consensus of the FASB’s Emerging Issues Task Force ("EITF"). The ASU allows reporting entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. The ASU responds to stakeholder feedback that the proportional amortization method provides investors and other allocators of capital with a better understanding of the returns from investments that are made primarily for the purpose of receiving income tax credits and other income tax benefits. Reporting entities were previously permitted to apply the proportional amortization method only to qualifying tax equity investments in low-income housing tax credit (LIHTC) structures. In recent years, stakeholders asked the FASB to extend the application of the proportional amortization method to qualifying tax equity investments that generate tax credits through other programs, which resulted in the EITF addressing this issue. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. The Corporation is assessing the terms of this guidance, but adoption of the standard is not expected to have a significant impact on the Corporation's financial statements or disclosures.

ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Preliminary Valuations of the Fair Value of Assets Acquired and Liabilities Assumed


	Fair Value
Cash and due from banks	$	217,104

Investment securities available for sale	370,071
Investment securities held to maturity	587
Loans held for sale	7,951
Loans	1,627,423
Allowance for credit losses - loans	(16,599)
Premises and equipment	11,848
Federal Home Loan Bank stock	11,688
Interest receivable	7,188
Cash surrender value of life insurance	30,143
Tax asset, deferred and receivable	16,223
Other assets	41,690
Deposits	(1,930,790)
Securities sold under repurchase agreements	(1,521)
Federal Home Loan Bank advances	(160,043)
Subordinated debentures	(32,631)
Interest payable	(1,065)
Other liabilities	(42,813)
Net tangible assets acquired	156,454
Other intangibles	18,642
Goodwill	166,617
Purchase price	$	341,713

Summary of Pro Forma Financial Information of Consolidated Financial Statements Since the Acquisition Date


	2022
Total revenue (net interest income plus other income)	$	654,313
Net income	$	221,631
Net income available to common stockholders	$	219,756
Earnings per common share:
Basic	$	3.72
Diluted	$	3.70

DERIVATIVE FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

Risk Management Objective of Using Derivatives

The Corporation is exposed to certain risks arising from both its business operations and economic conditions. The Corporation principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Corporation manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities and through the use of derivative financial instruments. Specifically, the Corporation enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Corporation’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Corporation’s known or expected cash payments principally related to certain variable-rate liabilities. The Corporation also has derivatives that are a result of a service the Corporation provides to certain qualifying customers, and, therefore, are not used to manage interest rate risk in the Corporation’s assets or liabilities. The Corporation manages a matched book with respect to its derivative instruments offered as a part of this service to its customers in order to minimize its net risk exposure resulting from such transactions.

Derivatives Designated as Hedges

The Corporation’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Corporation primarily uses interest rate swaps and interest rate caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the payment of fixed amounts to a counterparty in exchange for the Corporation receiving variable payments over the life of the agreements without exchange of the underlying notional amount. Interest rate caps designated as cash flow hedges involve the receipt of variable amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. As of December 31, 2022, the Corporation had one interest rate swap with a notional amount of $10.0 million that was used to hedge the variable cash outflows (SOFR-based) associated with one Federal Home Loan Bank advance. This interest swap matured in the third quarter of 2023.

The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During 2023, $10.0 million of interest rate swaps were used to hedge the variable cash outflows (SOFR-based) associated with one Federal Home Loan Bank advance. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the three and nine months ended September 30, 2023 and 2022, the Corporation did not recognize any ineffectiveness.

Amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest expense as interest payments are made on the Corporation's variable-rate liabilities. During the next twelve months, the Corporation doesn't expect to reclassify income (loss) from accumulated other comprehensive loss to interest income.

The following table summarizes the Corporation's derivatives designated as hedges:

Asset Derivatives

Liability Derivatives

September 30, 2023

December 31, 2022

September 30, 2023

December 31, 2022

Balance
Sheet
Location

Fair
Value

Balance
Sheet
Location

Fair
Value

Balance
Sheet
Location

Fair
Value

Balance
Sheet
Location

Fair
Value

Cash flow hedges:

Interest rate swaps on borrowings

Other Assets

—

Other Assets

164

Other Liabilities

—

Other Liabilities

—

The amount of gain (loss) recognized in other comprehensive income (loss) is included in the table below for the periods indicated.


Derivatives in Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives (Effective Portion)
	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Interest Rate Products	$	(66)	$	94	$	(179)	$	507

The amount of gain (loss) reclassified from other comprehensive income (loss) into income related to cash flow hedging relationships is included in the table below for the periods indicated.

Derivatives Designated as
Hedging Instruments

Location of Gain (Loss)
Recognized Income on
Derivative

Amount of Gain (Loss) Reclassed from Other Comprehensive Income (Loss) into Income (Effective Portion)

Three Months Ended
September 30, 2023

Three Months Ended
September 30, 2022

Interest rate contracts

Interest Expense

—

(78)

Derivatives Designated as
Hedging Instruments

Location of Gain (Loss)
Recognized Income on
Derivative

Amount of Gain (Loss) Reclassed from Other Comprehensive Income (Loss) into Income (Effective Portion)

Nine Months Ended
September 30, 2023

Nine Months Ended
September 30, 2022

Interest rate contracts

Interest Expense

(15)

(496)

Non-designated Hedges

The Corporation does not use derivatives for trading or speculative purposes. Derivatives not designated as hedges are not speculative and result from a service the Corporation provides to certain customers. The Corporation executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Corporation executes with a third party, such that the Corporation minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings.

Commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third party investors are considered derivatives. It is the Corporation's practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. These mortgage banking derivatives are not designated in hedge relationships. Fair values were estimated based on changes in mortgage interest rates from the date of the commitments. Changes in the fair value of these mortgage banking derivatives are included in net gains and fees on sales of loans.

The table below presents the fair value of the Corporation’s non-designated hedges, as well as their classification on the Balance Sheet, as of September 30, 2023, and December 31, 2022.


	September 30, 2023				December 31, 2022
	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in other assets:
Interest rate swaps	$	1,321,737	$	113,691	$	1,184,866	$	92,652
Forward contracts related to mortgage loans to be delivered for sale	66,301		768		14,406		188
Interest rate lock commitments	10,761		82		5,049		32
Included in other assets	$	1,398,799	$	114,541	$	1,204,321	$	92,872
Included in other liabilities:
Interest rate swaps	$	1,321,737	$	113,740	$	1,184,866	$	92,652
Forward contracts related to mortgage loans to be delivered for sale	14,847		36		4,483		63
Interest rate lock commitments	29,334		238		7,549		55
Included in other liabilities	$	1,365,918	$	114,014	$	1,196,898	$	92,770

In the normal course of business, the Corporation may decide to settle a forward contract rather than fulfill the contract. Cash received or paid in this settlement manner is included in "Net gains and fees on sales of loans" in the Consolidated Condensed Statements of Income and is considered a cost of executing a forward contract. The amount of gain (loss) recognized into income related to non-designated hedging instruments is included in the table below for the periods indicated.


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized Income on Derivative	Amount of Gain (Loss) Recognized into Income on Derivatives
		Three Months Ended September 30, 2023		Three Months Ended September 30, 2022
Forward contracts related to mortgage loans to be delivered for sale	Net gains and fees on sales of loans	$	982	$	237
Interest rate lock commitments	Net gains and fees on sales of loans	(100)		(350)
Total net gain/(loss) recognized in income		$	882	$	(113)



Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized Income on Derivative	Amount of Gain (Loss) Recognized into Income on Derivatives
		Nine Months Ended September 30, 2023		Nine Months Ended September 30, 2022
Forward contracts related to mortgage loans to be delivered for sale	Net gains and fees on sales of loans	$	1,691	$	993
Interest rate lock commitments	Net gains and fees on sales of loans	(133)		(235)
Total net gain/(loss) recognized in income		$	1,558	$	758

The Corporation’s exposure to credit risk occurs because of nonperformance by its counterparties. The counterparties approved by the Corporation are usually financial institutions, which are well capitalized and have credit ratings through Moody’s and/or Standard & Poor’s at or above investment grade. The Corporation’s control of such risk is through quarterly financial reviews, comparing mark-to-market values with policy limitations, credit ratings and collateral pledging.

Credit-risk-related Contingent Features

The Corporation has agreements with certain of its derivative counterparties that contain a provision where if the Corporation fails to maintain its status as a well or adequately capitalized institution, then the Corporation could be required to terminate or fully collateralize all outstanding derivative contracts. Additionally, the Corporation has agreements with certain of its derivative counterparties that contain a provision where if the Corporation defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Corporation could also be declared in default on its derivative obligations. As of September 30, 2023, the termination value of derivatives in a net liability position related to these agreements was $105,000, which resulted in no collateral pledged to counterparties as of September 30, 2023. While the Corporation did not breach any of these provisions as of September 30, 2023, if it had, the Corporation could have been required to settle its obligations under the agreements at their termination value.

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flow From Operating Activities:
Net income	$ 181,307	$ 151,329
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	2,000	16,755
Depreciation and amortization	8,666	8,802
Change in deferred taxes	3,957	2,676
Share-based compensation	3,792	3,430
Loans originated for sale	(567,626)	(178,972)
Proceeds from sales of loans held for sale	551,613	176,567
Gains on sales of loans held for sale	(5,865)	(3,851)
Net (gains) losses on sales of securities available for sale	4,613	(1,137)
Increase in cash surrender value of life insurance	(3,813)	(3,831)
Gains on life insurance benefits	(1,332)	(5,828)
Change in interest receivable	(4,941)	(7,230)
Change in interest payable	8,943	1,144
Other adjustments	(8,616)	(15,170)
Net cash provided by operating activities	172,698	144,684
Cash Flows from Investing Activities:
Net change in interest-bearing deposits	(222,578)	294,561
Purchases of:
Securities available for sale	(12,543)	(450,168)
Securities held to maturity	(5,653)	(288,094)
Proceeds from sales of securities available for sale	347,318	524,688
Proceeds from maturities of:
Securities available for sale	44,925	181,997
Securities held to maturity	76,427	127,582
Change in Federal Home Loan Bank stock	(3,272)	2,368
Net change in loans	(404,833)	(803,746)
Net cash and cash equivalents received (paid) in acquisition	0	137,780
Proceeds from the sale of other real estate owned	1,175	495
Proceeds from life insurance benefits	7,350	23,911
Proceeds from commercial portfolio loan sale	112,124	0
Other adjustments	(27,215)	(9,003)
Net cash used in investing activities	(86,775)	(257,629)
Net change in :
Demand and savings deposits	(581,735)	(29,993)
Certificates of deposit and other time deposits	845,566	(198,549)
Borrowings	754,229	913,330
Repayment of borrowings	(1,043,588)	(567,223)
Cash dividends on preferred stock	(1,406)	(938)
Cash dividends on common stock	(59,713)	(53,688)
Stock issued under employee benefit plans	590	520
Stock issued under dividend reinvestment and stock purchase plans	1,603	1,536
Stock options exercised	1,110	336
Net cash provided (used) by financing activities	(83,344)	65,331
Net Change in Cash and Cash Equivalents	2,579	(47,614)
Cash and Cash Equivalents, January 1	122,594	167,146
Cash and Cash Equivalents, September 30	125,173	119,532
Additional cash flow information:
Interest paid	232,616	40,568
Income tax paid	32,741	12,102
Loans transferred to other real estate owned	1,224	6,418
Fixed assets transferred to other real estate owned	3,226	1,398
Non-cash investing activities using trade date accounting	4,462	41,106
ROU assets obtained in exchange for new operating lease liabilities	1,630	9,081
Fair value of assets acquired	0	2,510,576
Cash paid in acquisition	0	(79,324)
Liabilities assumed	0	2,168,863
Common Stock
Additional cash flow information:
Less: common stock and preferred stock issued	0	237,389
Preferred Stock
Additional cash flow information:
Less: common stock and preferred stock issued	$ 0	$ 25,000

LOANS AND ALLOWANCE - Past Due Aging of Loan Portfolio by Loan Class (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans	$ 12,271,422	$ 12,003,894
Loans > 90 Days or More Past Due And Accruing	89	1,737
Current
Financing Receivable, Past Due [Line Items]
Loans	12,195,139	11,952,887
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	25,844	29,051
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	18,661	5,935
90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	31,778	16,021
Commercial and industrial loans
Financing Receivable, Past Due [Line Items]
Loans	3,490,953	3,437,126
Loans > 90 Days or More Past Due And Accruing	12	1,147
Commercial and industrial loans \| Current
Financing Receivable, Past Due [Line Items]
Loans	3,474,368	3,429,314
Commercial and industrial loans \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	4,005	4,904
Commercial and industrial loans \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	3,224	434
Commercial and industrial loans \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	9,356	2,474
Agricultural land, production and other loans to farmers
Financing Receivable, Past Due [Line Items]
Loans	233,838	241,793
Loans > 90 Days or More Past Due And Accruing	0	0
Agricultural land, production and other loans to farmers \| Current
Financing Receivable, Past Due [Line Items]
Loans	233,811	241,739
Agricultural land, production and other loans to farmers \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	0	0
Agricultural land, production and other loans to farmers \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	0	0
Agricultural land, production and other loans to farmers \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	27	54
Construction
Financing Receivable, Past Due [Line Items]
Loans	1,022,261	835,582
Loans > 90 Days or More Past Due And Accruing	0	0
Construction \| Current
Financing Receivable, Past Due [Line Items]
Loans	1,021,537	832,716
Construction \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	300	2,436
Construction \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	424	418
Construction \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	0	12
Commercial real estate, non-owner occupied
Financing Receivable, Past Due [Line Items]
Loans	2,360,596	2,407,475
Loans > 90 Days or More Past Due And Accruing	0	264
Commercial real estate, non-owner occupied \| Current
Financing Receivable, Past Due [Line Items]
Loans	2,343,002	2,395,495
Commercial real estate, non-owner occupied \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	4,603	5,946
Commercial real estate, non-owner occupied \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	1,913	881
Commercial real estate, non-owner occupied \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	11,078	5,153
Commercial real estate, owner occupied
Financing Receivable, Past Due [Line Items]
Loans	1,153,707	1,246,528
Loans > 90 Days or More Past Due And Accruing	0	0
Commercial real estate, owner occupied \| Current
Financing Receivable, Past Due [Line Items]
Loans	1,150,029	1,241,714
Commercial real estate, owner occupied \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	2,368	4,495
Commercial real estate, owner occupied \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	1,225	0
Commercial real estate, owner occupied \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	85	319
Residential
Financing Receivable, Past Due [Line Items]
Loans	2,257,385	2,096,655
Loans > 90 Days or More Past Due And Accruing	39	0
Residential \| Current
Financing Receivable, Past Due [Line Items]
Loans	2,227,184	2,079,959
Residential \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	10,884	8,607
Residential \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	10,405	2,278
Residential \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	8,912	5,811
Home equity
Financing Receivable, Past Due [Line Items]
Loans	609,352	630,632
Loans > 90 Days or More Past Due And Accruing	38	326
Home equity \| Current
Financing Receivable, Past Due [Line Items]
Loans	602,829	624,543
Home equity \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	2,878	2,206
Home equity \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	1,325	1,782
Home equity \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	2,320	2,101
Individuals' loans for household and other personal expenditures
Financing Receivable, Past Due [Line Items]
Loans	176,523	175,211
Loans > 90 Days or More Past Due And Accruing	0	0
Individuals' loans for household and other personal expenditures \| Current
Financing Receivable, Past Due [Line Items]
Loans	175,605	174,629
Individuals' loans for household and other personal expenditures \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	773	343
Individuals' loans for household and other personal expenditures \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	145	142
Individuals' loans for household and other personal expenditures \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	0	97
Public finance and other commercial loans
Financing Receivable, Past Due [Line Items]
Loans	966,807	932,892
Loans > 90 Days or More Past Due And Accruing	0	0
Public finance and other commercial loans \| Current
Financing Receivable, Past Due [Line Items]
Loans	966,774	932,778
Public finance and other commercial loans \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	33	114
Public finance and other commercial loans \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans	0	0
Public finance and other commercial loans \| 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans	$ 0	$ 0

INVESTMENT SECURITIES - Amortized Cost of Investment Securities Held to Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Total	$ 2,213,833	$ 2,287,372
Aaa
Schedule of Held-to-maturity Securities [Line Items]
Total	185,294
Aa1
Schedule of Held-to-maturity Securities [Line Items]
Total	153,408
Aa2
Schedule of Held-to-maturity Securities [Line Items]
Total	181,369
Aa3
Schedule of Held-to-maturity Securities [Line Items]
Total	133,499
A1
Schedule of Held-to-maturity Securities [Line Items]
Total	131,310
A2
Schedule of Held-to-maturity Securities [Line Items]
Total	10,172
A3
Schedule of Held-to-maturity Securities [Line Items]
Total	10,125
Non-rated
Schedule of Held-to-maturity Securities [Line Items]
Total	1,408,656
State and municipal
Schedule of Held-to-maturity Securities [Line Items]
Total	1,107,325	$ 1,117,552
State and municipal \| Aaa
Schedule of Held-to-maturity Securities [Line Items]
Total	114,709
State and municipal \| Aa1
Schedule of Held-to-maturity Securities [Line Items]
Total	153,408
State and municipal \| Aa2
Schedule of Held-to-maturity Securities [Line Items]
Total	181,369
State and municipal \| Aa3
Schedule of Held-to-maturity Securities [Line Items]
Total	133,499
State and municipal \| A1
Schedule of Held-to-maturity Securities [Line Items]
Total	131,310
State and municipal \| A2
Schedule of Held-to-maturity Securities [Line Items]
Total	10,172
State and municipal \| A3
Schedule of Held-to-maturity Securities [Line Items]
Total	10,125
State and municipal \| Non-rated
Schedule of Held-to-maturity Securities [Line Items]
Total	372,733
Other
Schedule of Held-to-maturity Securities [Line Items]
Total	1,106,508
Other \| Aaa
Schedule of Held-to-maturity Securities [Line Items]
Total	70,585
Other \| Aa1
Schedule of Held-to-maturity Securities [Line Items]
Total	0
Other \| Aa2
Schedule of Held-to-maturity Securities [Line Items]
Total	0
Other \| Aa3
Schedule of Held-to-maturity Securities [Line Items]
Total	0
Other \| A1
Schedule of Held-to-maturity Securities [Line Items]
Total	0
Other \| A2
Schedule of Held-to-maturity Securities [Line Items]
Total	0
Other \| A3
Schedule of Held-to-maturity Securities [Line Items]
Total	0
Other \| Non-rated
Schedule of Held-to-maturity Securities [Line Items]
Total	$ 1,035,923

ACQUISITIONS - Pro Forma Financial Information (Details) - Level One $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares
Business Acquisition [Line Items]
Total revenue (net interest income plus other income)	$ 654,313
Net income	221,631
Net income available to common stockholders	$ 219,756
Earnings per common share:
Basic (in dollars per share) \| $ / shares	$ 3.72
Diluted (in dollars per share) \| $ / shares	$ 3.70

LOANS AND ALLOWANCE - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
LOANS AND ALLOWANCE - Narrative (Details) - USD ($)	Apr. 01, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale		$ 30,972,000		$ 30,972,000			$ 9,094,000
Loans		12,271,422,000		12,271,422,000			12,003,894,000
Interest income recognized on non-accrual loans		0	$ 0	0	$ 0
Allowance for credit losses increase (decrease)		(15,400,000)	427,000,000,000	(17,500,000)	31,300,000
Loans charged off		20,911,000	888,000	24,330,000	2,785,000
Provision for credit losses		$ 5,000,000	0	$ 5,000,000	0
CECL Day 1 PCD ACL					16,599,000
CECL Day 1 non-PCD provision for credit losses					13,955,000
Standby letters of credit usual term		2 years		2 years
Off-balance sheet commitments		$ 20,300,000	23,300,000	$ 20,300,000	23,300,000	$ 23,300,000	23,300,000	$ 23,300,000	$ 20,500,000
Increase (decrease) in provision		(3,000,000)	$ 0	(3,000,000)	0
Adoption of the CECL
Accounts, Notes, Loans and Financing Receivable [Line Items]
Off-balance sheet commitments										$ 20,500,000
Level One
Accounts, Notes, Loans and Financing Receivable [Line Items]
CECL Day 1 PCD ACL					16,600,000
CECL Day 1 non-PCD provision for credit losses					$ 14,000,000
Increase (decrease) in provision	$ 2,800,000
Commercial and industrial loan one
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans charged off		13,700,000
Commercial and industrial loan two
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans charged off		5,400,000
Commercial and industrial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		3,490,953,000		3,490,953,000			3,437,126,000
Commercial real estate, owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		1,153,707,000		1,153,707,000			1,246,528,000
Commercial real estate, non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		2,360,596,000		2,360,596,000			2,407,475,000
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		2,257,385,000		2,257,385,000			2,096,655,000
Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		76,300,000		76,300,000			51,000,000
Increase in past due loans				25,300,000
30-59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		25,844,000		25,844,000			29,051,000
Increase in past due loans				3,200,000
30-59 Days Past Due \| Commercial and industrial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		4,005,000		4,005,000			4,904,000
30-59 Days Past Due \| Commercial real estate, owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		2,368,000		2,368,000			4,495,000
30-59 Days Past Due \| Commercial real estate, non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		4,603,000		4,603,000			5,946,000
30-59 Days Past Due \| Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		10,884,000		10,884,000			8,607,000
60-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		18,661,000		18,661,000			5,935,000
Increase in past due loans				12,700,000
60-89 Days Past Due \| Commercial and industrial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		3,224,000		3,224,000			434,000
Increase in past due loans				2,800,000
60-89 Days Past Due \| Commercial real estate, owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		1,225,000		1,225,000			0
Increase in past due loans				1,200,000
60-89 Days Past Due \| Commercial real estate, non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		1,913,000		1,913,000			881,000
60-89 Days Past Due \| Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		10,405,000		10,405,000			2,278,000
Increase in past due loans				8,100,000
90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		31,778,000		31,778,000			16,021,000
Increase in past due loans				15,800,000
90 Days or More Past Due \| Commercial and industrial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		9,356,000		9,356,000			2,474,000
Increase in past due loans				6,900,000
90 Days or More Past Due \| Commercial real estate, owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		85,000		85,000			319,000
90 Days or More Past Due \| Commercial real estate, non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		11,078,000		11,078,000			5,153,000
Increase in past due loans				5,900,000
90 Days or More Past Due \| Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		$ 8,912,000		8,912,000			$ 5,811,000
Increase in past due loans				$ 3,100,000

SHARE-BASED COMPENSATION - Unvested RSAs Outstanding (Details) - RSAs	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Number of Shares
Unvested RSAs, Beginning balance (in shares) \| shares	416,705
Granted (in shares) \| shares	164,034
Vested (in shares) \| shares	(129,092)
Forfeited (in shares) \| shares	(1,700)
Unvested RSAs, Ending balance (in shares) \| shares	449,947
Weighted-Average Grant Date Fair Value
Unvested RSAs, Beginning balance (in dollars per share) \| $ / shares	$ 36.97
Granted (in dollars per share) \| $ / shares	31.67
Vested (in dollars per share) \| $ / shares	26.87
Forfeited (in dollars per share) \| $ / shares	35.65
Unvested RSAs, Ending balance (in dollars per share) \| $ / shares	$ 37.94

LOANS AND ALLOWANCE - Composition of Loan Portfolio by Loan Class (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 12,271,422	$ 12,003,894
Commercial and industrial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	3,490,953	3,437,126
Agricultural land, production and other loans to farmers
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	233,838	241,793
Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,022,261	835,582
Commercial real estate, non-owner occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	2,360,596	2,407,475
Commercial real estate, owner occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,153,707	1,246,528
Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	2,257,385	2,096,655
Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	609,352	630,632
Individuals' loans for household and other personal expenditures
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	176,523	175,211
Public finance and other commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 966,807	$ 932,892

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and due from banks	$ 125,173	$ 122,594
Interest-bearing deposits	348,639	126,061
Investment securities available for sale	1,500,136	1,976,661
Investment securities held to maturity, net of allowance for credit losses of $245 and $245 (fair value of $1,741,225 and $1,907,865)	2,213,588	2,287,127
Loans held for sale	30,972	9,094
Loans	12,271,422	12,003,894
Less: Allowance for credit losses - loans	(205,782)	(223,277)
Net loans	12,065,640	11,780,617
Premises and equipment	132,441	117,118
Federal Home Loan Bank stock	41,797	38,525
Interest receivable	90,011	85,070
Goodwill	712,002	712,002
Other intangibles	29,281	35,842
Cash surrender value of life insurance	306,106	308,311
Other real estate owned	6,480	6,431
Tax asset, deferred and receivable	135,521	111,222
Other assets	258,861	221,631
TOTAL ASSETS	17,996,648	17,938,306
Deposits:
Noninterest-bearing	2,554,984	3,173,417
Interest-bearing	12,091,592	11,209,328
Total Deposits	14,646,576	14,382,745
Borrowings:
Federal funds purchased	0	171,560
Securities sold under repurchase agreements	152,537	167,413
Federal Home Loan Bank advances	713,384	823,674
Subordinated debentures and other borrowings	158,665	151,298
Total Borrowings	1,024,586	1,313,945
Interest payable	16,473	7,530
Other liabilities	216,369	199,316
Total Liabilities	15,904,004	15,903,536
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY
Common stock value	7,425	7,396
Additional paid-in capital	1,234,402	1,228,626
Retained earnings	1,132,962	1,012,774
Accumulated other comprehensive loss	(307,270)	(239,151)
Total Stockholders' Equity	2,092,644	2,034,770
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	17,996,648	17,938,306
Cumulative Preferred Stock
STOCKHOLDERS' EQUITY
Preferred stock value	125	125
Series A Preferred Stock
STOCKHOLDERS' EQUITY
Preferred stock value	$ 25,000	$ 25,000

INVESTMENT SECURITIES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Jan. 01, 2021
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Accrued interest on investment securities	$ 23,200	$ 29,500
Allowance for credit losses	245	245
Carrying value of securities pledged as collateral	1,700,000	941,300
Securities sold under repurchase agreements	187,300	196,700
State and municipal
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Allowance for credit losses	$ 245	$ 245
State and municipal \| CECL adoption
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Allowance for credit losses			$ 245

NET INCOME PER COMMON SHARE

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

NET INCOME PER COMMON SHARE

Basic net income per common share is computed by dividing net income available to common stockholders by the weighted-average common shares outstanding during the reporting period. Diluted net income per common share is computed by dividing net income available to common stockholders by the combination of the weighted-average common shares outstanding during the reporting period and all potentially dilutive common shares. Potentially dilutive common shares include stock options and RSAs issued under the Corporation's share-based compensation plans. Potentially dilutive common shares are excluded from the computation of diluted earnings per common share in the periods where the effect would be antidilutive.

The following tables reconcile basic and diluted net income per common share for the three and nine months ended September 30, 2023 and 2022.


	Three Months Ended September 30,
	2023					2022
	Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount		Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount
Net income available to common stockholders	$	55,898	59,335,877	$	0.95	$	63,283	59,096,688	$	1.08
Effect of potentially dilutive stock options and restricted stock awards			166,648					242,041
Diluted net income per common share	$	55,898	59,502,525	$	0.94	$	63,283	59,338,729	$	1.08



	Nine Months Ended September 30,

	2023					2022
	Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount		Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount
Net income available to common stockholders	$	179,901	59,272,401	$	3.04	$	150,391	57,200,843	$	2.63
Effect of potentially dilutive stock options and restricted stock awards			192,997					266,716
Diluted net income per common share	$	179,901	59,465,398	$	3.03	$	150,391	57,467,559	$	2.62

For the three and nine months ended September 30, 2023 and 2022, there were no stock options with an option price greater than the average market price of the common shares.

OTHER INTANGIBLES - Core Deposit Intangibles (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amount	$ 123,285	$ 104,643
Other intangibles acquired	0	18,642
Accumulated amortization	(94,004)	(87,443)
Total core deposit and other intangibles	$ 29,281	$ 35,842

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 56,366	$ 63,752	$ 181,307	$ 151,329
Unrealized loss on securities available-for-sale:
Unrealized holding loss arising during the period	(114,630)	(145,935)	(90,675)	(467,210)
Reclassification adjustment for losses/(gains) included in net income	1,650	(481)	4,613	(1,137)
Tax effect	23,726	30,747	18,073	98,353
Net of tax	(89,254)	(115,669)	(67,989)	(369,994)
Unrealized gain/(loss) on cash flow hedges:
Unrealized holding gain/(loss) arising during the period	(66)	94	(179)	507
Reclassification adjustment for losses/(gains) included in net income	0	78	15	496
Tax effect	14	(36)	34	(211)
Net of tax	(52)	136	(130)	792
Total other comprehensive income/(loss), net of tax	(89,306)	(115,533)	(68,119)	(369,202)
Comprehensive income/(loss)	$ (32,940)	$ (51,781)	$ 113,188	$ (217,873)

INCOME TAX

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAX

The following table summarizes the major components creating differences between income taxes at the federal statutory and the effective tax rate recorded in the consolidated statements of income for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022








Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	13,728		$	15,445		$	44,589		$	36,176
Tax-exempt interest income	(4,469)			(4,974)			(13,792)			(14,371)

Share-based compensation	(108)			(79)			(172)			(146)
Tax-exempt earnings and gains on life insurance	(369)			(1,397)			(1,080)			(2,026)
Tax credits	(84)			(122)			(249)			(292)

State Income Tax	254			658			1,474			1,177
Other	53			262			251			420
Actual Tax Expense	$	9,005		$	9,793		$	31,021		$	20,938

Effective Tax Rate	13.8		%	13.3		%	14.6		%	12.2		%

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

OTHER INTANGIBLES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Apr. 01, 2022
Indefinite-lived Intangible Assets [Line Items]
Intangible asset amortization	$ 2,182	$ 2,303	$ 6,561	$ 5,972
Minimum
Indefinite-lived Intangible Assets [Line Items]
Useful life of core deposit intangibles and other intangibles	2 years		2 years
Maximum
Indefinite-lived Intangible Assets [Line Items]
Useful life of core deposit intangibles and other intangibles	10 years		10 years
Level One
Indefinite-lived Intangible Assets [Line Items]
Other intangibles					$ 18,642
Level One \| Core Deposits
Indefinite-lived Intangible Assets [Line Items]
Other intangibles					17,200
Level One \| Non-compete
Indefinite-lived Intangible Assets [Line Items]
Other intangibles					$ 1,400

LOANS AND ALLOWANCE - Risk Grading of Loan Portfolio by Loan Class (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	$ 2,212,810	$ 3,483,295
Fiscal year before current fiscal year	2,705,962	2,680,834
Two years before current fiscal year	2,210,224	1,843,080
Three years before current fiscal year	1,500,790	686,065
Four years before current fiscal year	553,043	385,461
Prior	958,254	828,159
Revolving loans amortized cost basis	2,126,807	2,084,096
Revolving loans converted to term	3,532	12,904
Total	12,271,422	12,003,894
Commercial and industrial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	918,136	1,094,363
Current fiscal year, writeoff	13,901
Fiscal year before current fiscal year	584,258	576,080
Fiscal year before current fiscal year, writeoff	508
Two years before current fiscal year	319,453	159,416
Two years before current fiscal year, writeoff	400
Three years before current fiscal year	105,004	131,332
Three years before current fiscal year, writeoff	5,588
Four years before current fiscal year	58,313	48,822
Four years before current fiscal year, writeoff	76
Prior	51,646	48,058
Prior, writeoff	239
Revolving loans amortized cost basis	1,454,093	1,373,714
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	50	5,341
Revolving loans converted to term, writeoff	0
Total	3,490,953	3,437,126
Total, writeoff	20,712
Commercial and industrial loans \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	901,876	1,064,687
Fiscal year before current fiscal year	548,276	531,504
Two years before current fiscal year	296,471	141,985
Three years before current fiscal year	95,426	114,999
Four years before current fiscal year	53,498	43,136
Prior	49,094	45,310
Revolving loans amortized cost basis	1,374,146	1,302,562
Revolving loans converted to term	50	5,048
Total	3,318,837	3,249,231
Commercial and industrial loans \| Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	9,450	2,164
Fiscal year before current fiscal year	11,955	18,005
Two years before current fiscal year	6,428	11,900
Three years before current fiscal year	5,470	5,727
Four years before current fiscal year	114	1,012
Prior	897	2,181
Revolving loans amortized cost basis	28,202	27,702
Revolving loans converted to term	0	150
Total	62,516	68,841
Commercial and industrial loans \| Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	5,902	27,512
Fiscal year before current fiscal year	20,082	26,571
Two years before current fiscal year	16,554	5,531
Three years before current fiscal year	1,959	10,606
Four years before current fiscal year	4,701	4,674
Prior	1,655	567
Revolving loans amortized cost basis	48,890	43,450
Revolving loans converted to term	0	143
Total	99,743	119,054
Commercial and industrial loans \| Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	908
Fiscal year before current fiscal year	3,945
Two years before current fiscal year	0
Three years before current fiscal year	2,149
Four years before current fiscal year	0
Prior	0
Revolving loans amortized cost basis	2,855
Revolving loans converted to term	0
Total	9,857
Agricultural land, production and other loans to farmers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	22,555	44,910
Current fiscal year, writeoff	0
Fiscal year before current fiscal year	39,288	37,083
Fiscal year before current fiscal year, writeoff	0
Two years before current fiscal year	33,059	36,281
Two years before current fiscal year, writeoff	0
Three years before current fiscal year	32,692	15,296
Three years before current fiscal year, writeoff	0
Four years before current fiscal year	13,819	4,127
Four years before current fiscal year, writeoff	0
Prior	26,912	30,694
Prior, writeoff	0
Revolving loans amortized cost basis	65,513	73,402
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	0	0
Revolving loans converted to term, writeoff	0
Total	233,838	241,793
Total, writeoff	0
Agricultural land, production and other loans to farmers \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	22,521	44,446
Fiscal year before current fiscal year	38,866	36,299
Two years before current fiscal year	33,059	35,791
Three years before current fiscal year	32,234	15,296
Four years before current fiscal year	13,819	3,752
Prior	26,251	28,910
Revolving loans amortized cost basis	65,513	73,402
Revolving loans converted to term	0	0
Total	232,263	237,896
Agricultural land, production and other loans to farmers \| Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	0	286
Fiscal year before current fiscal year	266	784
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	281
Prior	597	632
Revolving loans amortized cost basis	0	0
Revolving loans converted to term	0	0
Total	863	1,983
Agricultural land, production and other loans to farmers \| Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	34	178
Fiscal year before current fiscal year	156	0
Two years before current fiscal year	0	490
Three years before current fiscal year	458	0
Four years before current fiscal year	0	94
Prior	64	1,152
Revolving loans amortized cost basis	0	0
Revolving loans converted to term	0	0
Total	712	1,914
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	397,654	383,367
Current fiscal year, writeoff	0
Fiscal year before current fiscal year	299,869	301,986
Fiscal year before current fiscal year, writeoff	0
Two years before current fiscal year	271,417	117,541
Two years before current fiscal year, writeoff	0
Three years before current fiscal year	35,171	11,428
Three years before current fiscal year, writeoff	0
Four years before current fiscal year	4,047	857
Four years before current fiscal year, writeoff	0
Prior	2,526	3,236
Prior, writeoff	0
Revolving loans amortized cost basis	11,577	17,167
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	0	0
Revolving loans converted to term, writeoff	0
Total	1,022,261	835,582
Total, writeoff	0
Construction \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	362,578	366,414
Fiscal year before current fiscal year	295,563	301,986
Two years before current fiscal year	266,129	117,541
Three years before current fiscal year	14,325	11,428
Four years before current fiscal year	4,047	857
Prior	2,526	3,224
Revolving loans amortized cost basis	11,577	17,167
Revolving loans converted to term	0	0
Total	956,745	818,617
Construction \| Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	35,063	16,922
Fiscal year before current fiscal year	424	0
Two years before current fiscal year	0	0
Three years before current fiscal year	20,846	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Revolving loans converted to term	0	0
Total	56,333	16,922
Construction \| Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	13	31
Fiscal year before current fiscal year	3,882	0
Two years before current fiscal year	5,288	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	12
Revolving loans amortized cost basis	0	0
Revolving loans converted to term	0	0
Total	9,183	43
Commercial real estate, non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	298,116	630,708
Current fiscal year, writeoff	0
Fiscal year before current fiscal year	562,124	615,408
Fiscal year before current fiscal year, writeoff	2
Two years before current fiscal year	541,141	596,899
Two years before current fiscal year, writeoff	0
Three years before current fiscal year	497,135	187,486
Three years before current fiscal year, writeoff	0
Four years before current fiscal year	169,203	132,847
Four years before current fiscal year, writeoff	0
Prior	260,968	209,128
Prior, writeoff	0
Revolving loans amortized cost basis	31,909	31,196
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	0	3,803
Revolving loans converted to term, writeoff	0
Total	2,360,596	2,407,475
Total, writeoff	2
Commercial real estate, non-owner occupied \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	214,579	560,146
Fiscal year before current fiscal year	529,237	603,254
Two years before current fiscal year	533,207	550,605
Three years before current fiscal year	471,278	168,701
Four years before current fiscal year	142,636	116,859
Prior	225,787	190,264
Revolving loans amortized cost basis	31,615	31,196
Revolving loans converted to term	0	3,803
Total	2,148,339	2,224,828
Commercial real estate, non-owner occupied \| Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	64,871	49,439
Fiscal year before current fiscal year	22,956	4,026
Two years before current fiscal year	7,842	38,268
Three years before current fiscal year	3,641	18,785
Four years before current fiscal year	26,567	11,546
Prior	32,842	17,992
Revolving loans amortized cost basis	47	0
Revolving loans converted to term	0	0
Total	158,766	140,056
Commercial real estate, non-owner occupied \| Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	18,666	21,123
Fiscal year before current fiscal year	9,807	8,128
Two years before current fiscal year	92	8,026
Three years before current fiscal year	22,216	0
Four years before current fiscal year	0	4,442
Prior	2,339	872
Revolving loans amortized cost basis	247	0
Revolving loans converted to term	0	0
Total	53,367	42,591
Commercial real estate, non-owner occupied \| Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	0
Fiscal year before current fiscal year	124
Two years before current fiscal year	0
Three years before current fiscal year	0
Four years before current fiscal year	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term	0
Total	124
Commercial real estate, owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	139,503	271,593
Current fiscal year, writeoff	0
Fiscal year before current fiscal year	222,019	324,004
Fiscal year before current fiscal year, writeoff	0
Two years before current fiscal year	283,816	335,062
Two years before current fiscal year, writeoff	0
Three years before current fiscal year	277,729	119,104
Three years before current fiscal year, writeoff	0
Four years before current fiscal year	104,394	67,946
Four years before current fiscal year, writeoff	2
Prior	97,958	90,990
Prior, writeoff	0
Revolving loans amortized cost basis	28,288	34,451
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	0	3,378
Revolving loans converted to term, writeoff	0
Total	1,153,707	1,246,528
Total, writeoff	2
Commercial real estate, owner occupied \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	119,212	260,725
Fiscal year before current fiscal year	207,077	316,665
Two years before current fiscal year	270,151	330,441
Three years before current fiscal year	269,190	114,015
Four years before current fiscal year	101,546	63,816
Prior	87,685	81,286
Revolving loans amortized cost basis	27,327	33,123
Revolving loans converted to term	0	3,378
Total	1,082,188	1,203,449
Commercial real estate, owner occupied \| Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	5,178	7,744
Fiscal year before current fiscal year	13,603	6,125
Two years before current fiscal year	9,437	2,245
Three years before current fiscal year	6,053	3,481
Four years before current fiscal year	2,831	1,210
Prior	5,110	2,984
Revolving loans amortized cost basis	334	1,328
Revolving loans converted to term	0	0
Total	42,546	25,117
Commercial real estate, owner occupied \| Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	15,113	3,124
Fiscal year before current fiscal year	1,339	1,214
Two years before current fiscal year	4,228	2,376
Three years before current fiscal year	2,486	1,608
Four years before current fiscal year	17	2,920
Prior	5,163	6,720
Revolving loans amortized cost basis	627	0
Revolving loans converted to term	0	0
Total	28,973	17,962
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	333,654	762,399
Current fiscal year, writeoff	0
Fiscal year before current fiscal year	700,583	494,049
Fiscal year before current fiscal year, writeoff	42
Two years before current fiscal year	458,098	405,136
Two years before current fiscal year, writeoff	135
Three years before current fiscal year	374,931	115,738
Three years before current fiscal year, writeoff	3
Four years before current fiscal year	107,654	79,632
Four years before current fiscal year, writeoff	0
Prior	274,903	234,141
Prior, writeoff	63
Revolving loans amortized cost basis	7,497	5,459
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	65	101
Revolving loans converted to term, writeoff	0
Total	2,257,385	2,096,655
Total, writeoff	243
Residential \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	332,210	758,161
Fiscal year before current fiscal year	691,941	489,301
Two years before current fiscal year	451,830	401,353
Three years before current fiscal year	372,247	114,420
Four years before current fiscal year	105,548	77,768
Prior	265,879	229,812
Revolving loans amortized cost basis	4,878	5,365
Revolving loans converted to term	65	46
Total	2,224,598	2,076,226
Residential \| Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	1,087	2,839
Fiscal year before current fiscal year	5,304	2,924
Two years before current fiscal year	4,034	1,972
Three years before current fiscal year	1,710	513
Four years before current fiscal year	1,578	396
Prior	6,501	2,588
Revolving loans amortized cost basis	2,588	34
Revolving loans converted to term	0	0
Total	22,802	11,266
Residential \| Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	357	1,399
Fiscal year before current fiscal year	3,338	1,824
Two years before current fiscal year	2,234	1,811
Three years before current fiscal year	974	805
Four years before current fiscal year	528	1,468
Prior	2,523	1,741
Revolving loans amortized cost basis	31	60
Revolving loans converted to term	0	55
Total	9,985	9,163
Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	9,338	40,768
Current fiscal year, writeoff	0
Fiscal year before current fiscal year	35,504	75,749
Fiscal year before current fiscal year, writeoff	160
Two years before current fiscal year	65,078	14,621
Two years before current fiscal year, writeoff	182
Three years before current fiscal year	12,625	1,572
Three years before current fiscal year, writeoff	149
Four years before current fiscal year	1,162	1,528
Four years before current fiscal year, writeoff	193
Prior	4,827	3,393
Prior, writeoff	1,422
Revolving loans amortized cost basis	477,999	492,720
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	2,819	281
Revolving loans converted to term, writeoff	0
Total	609,352	630,632
Total, writeoff	2,106
Home equity \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	9,155	40,768
Fiscal year before current fiscal year	34,784	75,670
Two years before current fiscal year	64,438	14,621
Three years before current fiscal year	11,511	1,572
Four years before current fiscal year	1,162	1,348
Prior	4,566	3,325
Revolving loans amortized cost basis	472,517	486,924
Revolving loans converted to term	2,065	281
Total	600,198	624,509
Home equity \| Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	120	0
Fiscal year before current fiscal year	720	0
Two years before current fiscal year	41	0
Three years before current fiscal year	1,114	0
Four years before current fiscal year	0	115
Prior	168	8
Revolving loans amortized cost basis	4,108	3,698
Revolving loans converted to term	371	0
Total	6,642	3,821
Home equity \| Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	63	0
Fiscal year before current fiscal year	0	79
Two years before current fiscal year	599	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	65
Prior	93	60
Revolving loans amortized cost basis	1,374	2,098
Revolving loans converted to term	383	0
Total	2,512	2,302
Individuals' loans for household and other personal expenditures
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	32,619	68,062
Current fiscal year, writeoff	98
Fiscal year before current fiscal year	53,248	43,773
Fiscal year before current fiscal year, writeoff	591
Two years before current fiscal year	31,525	13,105
Two years before current fiscal year, writeoff	291
Three years before current fiscal year	8,104	5,422
Three years before current fiscal year, writeoff	77
Four years before current fiscal year	2,746	5,942
Four years before current fiscal year, writeoff	57
Prior	6,583	3,800
Prior, writeoff	151
Revolving loans amortized cost basis	41,100	35,107
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	598	0
Revolving loans converted to term, writeoff	0
Total	176,523	175,211
Total, writeoff	1,265
Individuals' loans for household and other personal expenditures \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	32,590	67,883
Fiscal year before current fiscal year	52,860	43,639
Two years before current fiscal year	31,275	13,025
Three years before current fiscal year	8,070	5,389
Four years before current fiscal year	2,735	5,830
Prior	6,572	3,775
Revolving loans amortized cost basis	40,907	35,091
Revolving loans converted to term	597	0
Total	175,606	174,632
Individuals' loans for household and other personal expenditures \| Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	29	178
Fiscal year before current fiscal year	388	134
Two years before current fiscal year	250	77
Three years before current fiscal year	34	33
Four years before current fiscal year	11	28
Prior	11	17
Revolving loans amortized cost basis	193	16
Revolving loans converted to term	1	0
Total	917	483
Individuals' loans for household and other personal expenditures \| Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	0	1
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	3
Three years before current fiscal year	0	0
Four years before current fiscal year	0	84
Prior	0	8
Revolving loans amortized cost basis	0	0
Revolving loans converted to term	0	0
Total	0	96
Public finance and other commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	61,235	187,125
Current fiscal year, writeoff	13,999
Fiscal year before current fiscal year	209,069	212,702
Fiscal year before current fiscal year, writeoff	1,303
Two years before current fiscal year	206,637	165,019
Two years before current fiscal year, writeoff	1,008
Three years before current fiscal year	157,399	98,687
Three years before current fiscal year, writeoff	5,817
Four years before current fiscal year	91,705	43,760
Four years before current fiscal year, writeoff	328
Prior	231,931	204,719
Prior, writeoff	1,875
Revolving loans amortized cost basis	8,831	20,880
Revolving loans amortized cost basis, writeoff	0
Revolving loans converted to term	0	0
Revolving loans converted to term, writeoff	0
Total	966,807	932,892
Total, writeoff	24,330
Public finance and other commercial loans \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current fiscal year	61,235	187,125
Fiscal year before current fiscal year	209,069	212,702
Two years before current fiscal year	206,637	165,019
Three years before current fiscal year	157,399	98,687
Four years before current fiscal year	91,705	43,760
Prior	231,931	204,719
Revolving loans amortized cost basis	8,831	20,880
Revolving loans converted to term	0	0
Total	$ 966,807	$ 932,892

GENERAL LITIGATION AND REGULATORY EXAMINATIONS	9 Months Ended
GENERAL LITIGATION AND REGULATORY EXAMINATIONS	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
GENERAL LITIGATION AND REGULATORY EXAMINATIONS	GENERAL LITIGATION AND REGULATORY EXAMINATIONS The Corporation is subject to claims and lawsuits that arise primarily in the ordinary course of business. Additionally, the Corporation is also subject to periodic examinations by various regulatory agencies. It is the general opinion of management that the disposition or ultimate resolution of any such routine litigation or regulatory examinations will not have a material adverse effect on the consolidated financial position, results of operations and cash flow of the Corporation.

GOODWILL (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill


	2022
Balance, January 1	$	545,385
Goodwill acquired	166,617


Balance, December 31	$	712,002

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

FAIR VALUES OF FINANCIAL INSTRUMENTS - Valuation Methodologies Used for Instruments Measured at Fair Value on Non-Recurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	$ 50,607	$ 55,290
Collateral dependent loans \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	0	0
Collateral dependent loans \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	0	0
Collateral dependent loans \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	50,607	$ 55,290
Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	362
Other real estate owned \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	0
Other real estate owned \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	0
Other real estate owned \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	$ 362

LOANS AND ALLOWANCE - Allowance for Credit Losses, Off-balance Sheet (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	$ 23,300	$ 23,300	$ 23,300	$ 20,500
Provision for credit losses - unfunded commitments related to Level One	0	0	0	2,800
Provision for credit losses - unfunded commitments	(3,000)	0	(3,000)	0
Ending balance	$ 20,300	$ 23,300	$ 20,300	$ 23,300

NET INCOME PER COMMON SHARE - Narrative (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Stock options not included in the earnings per share calculation (in shares)	0	0

LOANS AND ALLOWANCE - Changes in Allowance for Loan Losses by Loan Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 221,147	$ 226,275	$ 223,277	$ 195,397
Provision for credit losses	5,000	0	5,000	0
CECL Day 1 non-PCD provision for credit losses				13,955
CECL Day 1 PCD ACL				16,599
Recoveries on loans	546	1,315	1,835	3,536
Loans charged off	(20,911)	(888)	(24,330)	(2,785)
Ending balance	205,782	226,702	205,782	226,702
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	108,373	94,228	102,216	69,935
Provision for credit losses	3,020	10,142	9,460	18,518
CECL Day 1 non-PCD provision for credit losses				2,957
CECL Day 1 PCD ACL				12,970
Recoveries on loans	179	81	775	789
Loans charged off	(19,833)	(306)	(20,712)	(1,024)
Ending balance	91,739	104,145	91,739	104,145
Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	39,157	55,328	46,839	60,665
Provision for credit losses	4,901	(7,054)	(2,833)	(21,697)
CECL Day 1 non-PCD provision for credit losses				5,539
CECL Day 1 PCD ACL				2,981
Recoveries on loans	0	188	56	1,096
Loans charged off	0	(1)	(4)	(123)
Ending balance	44,058	48,461	44,058	48,461
Construction
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	30,073	27,401	28,955	20,206
Provision for credit losses	140	186	1,258	5,862
CECL Day 1 non-PCD provision for credit losses				871
CECL Day 1 PCD ACL				648
Recoveries on loans	0	824	0	824
Loans charged off	0	0	0	0
Ending balance	30,213	28,411	30,213	28,411
Consumer & Residential
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	43,544	49,318	45,267	44,591
Provision for credit losses	(3,061)	(3,274)	(2,885)	(2,683)
CECL Day 1 non-PCD provision for credit losses				4,588
CECL Day 1 PCD ACL				0
Recoveries on loans	367	222	1,004	827
Loans charged off	(1,078)	(581)	(3,614)	(1,638)
Ending balance	$ 39,772	$ 45,685	$ 39,772	$ 45,685

ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table summarizes the changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, as of September 30, 2023 and 2022:


	Accumulated Other Comprehensive Income (Loss)
	Unrealized Gains (Losses) on Securities Available for Sale		Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Defined Benefit Plans		Total
Balance at December 31, 2022	$	(234,495)	$	130	$	(4,786)	$	(239,151)
Other comprehensive loss before reclassifications	(71,633)		(142)		—		(71,775)
Amounts reclassified from accumulated other comprehensive income	3,644		12		—		3,656
Period change	(67,989)		(130)		—		(68,119)

Balance at September 30, 2023	$	(302,484)	$	—	$	(4,786)	$	(307,270)


Balance at December 31, 2021	$	59,774	$	(660)	$	(4,001)	$	55,113
Other comprehensive income (loss) before reclassifications	(369,096)		400		—		(368,696)
Amounts reclassified from accumulated other comprehensive income	(898)		392		—		(506)
Period change	(369,994)		792		—		(369,202)

Balance at September 30, 2022	$	(310,220)	$	132	$	(4,001)	$	(314,089)


	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Three Months Ended September 30,
Details about Accumulated Other Comprehensive Income (Loss) Components	2023		2022		Affected Line Item in the Statements of Income
Unrealized gains (losses) on available for sale securities (1)
Realized securities gains (losses) reclassified into income	$	(1,650)	$	481	Other income - net realized gains (losses) on sales of available for sale securities
Related income tax benefit (expense)	346		(101)		Income tax expense
	$	(1,304)	$	380

Unrealized gains (losses) on cash flow hedges (2)
Interest rate contracts	$	—	$	(78)	Interest expense - subordinated debentures and term loans
Related income tax benefit (expense)	—		16		Income tax expense
	$	—	$	(62)






Total reclassifications for the period, net of tax	$	(1,304)	$	318




	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Nine Months Ended September 30,
Details about Accumulated Other Comprehensive Income (Loss) Components	2023		2022		Affected Line Item in the Statements of Income
Unrealized gains (losses) on available for sale securities (1)
Realized securities gains reclassified into income	$	(4,613)	$	1,137	Other income - net realized gains on sales of available for sale securities
Related income tax benefit (expense)	969		(239)		Income tax expense
	$	(3,644)	$	898

Unrealized gains (losses) on cash flow hedges (2)
Interest rate contracts	$	(15)	$	(496)	Interest expense - subordinated debentures and term loans
Related income tax benefit (expense)	3		104		Income tax expense
	$	(12)	$	(392)






Total reclassifications for the period, net of tax	$	(3,656)	$	506

FAIR VALUES OF FINANCIAL INSTRUMENTS - Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements using Significant Unobservable Level 3 Inputs (Details) - Recurring - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Available for Sale Securities
Balance at beginning of the period	$ 3,348	$ 8,630	$ 3,439	$ 5,491
Included in other comprehensive income	(30)	29	(28)	(597)
Purchases, issuances and settlements	0	0	0	5,111
Principal payments	(90)	(3,152)	(183)	(4,498)
Ending balance	$ 3,228	$ 5,507	$ 3,228	$ 5,507

ACCUMULATED OTHER COMPREHENSIVE LOSS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss)
Beginning balance	$ 2,145,565	$ 1,977,641	$ 2,034,770	$ 1,912,571
Other comprehensive loss before reclassifications			(71,775)	(368,696)
Amounts reclassified from accumulated other comprehensive income			3,656	(506)
Period change	(89,306)	(115,533)	(68,119)	(369,202)
Ending balance	2,092,644	1,906,666	2,092,644	1,906,666
Total
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(217,964)	(198,556)	(239,151)	55,113
Period change	(89,306)	(115,533)	(68,119)	(369,202)
Ending balance	(307,270)	(314,089)	(307,270)	(314,089)
Unrealized Gains (Losses) on Securities Available for Sale
Accumulated Other Comprehensive Income (Loss)
Beginning balance			(234,495)	59,774
Other comprehensive loss before reclassifications			(71,633)	(369,096)
Amounts reclassified from accumulated other comprehensive income			3,644	(898)
Period change			(67,989)	(369,994)
Ending balance	(302,484)	(310,220)	(302,484)	(310,220)
Unrealized Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss)
Beginning balance			130	(660)
Other comprehensive loss before reclassifications			(142)	400
Amounts reclassified from accumulated other comprehensive income			12	392
Period change			(130)	792
Ending balance	0	132	0	132
Unrealized Gains (Losses) on Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss)
Beginning balance			(4,786)	(4,001)
Other comprehensive loss before reclassifications			0	0
Amounts reclassified from accumulated other comprehensive income			0	0
Period change			0	0
Ending balance	$ (4,786)	$ (4,001)	$ (4,786)	$ (4,001)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

FAIR VALUES OF FINANCIAL INSTRUMENTS - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets:
Cash and due from banks	$ 125,173	$ 122,594
Interest-bearing deposits	348,639	126,061
Investment securities available for sale	1,500,136	1,976,661
Investment securities held to maturity, net	1,741,225	1,907,865
Loans held for sale	30,972	9,094
Loans, net	11,801,546	11,156,217
Federal Home Loan Bank stock	41,797	38,525
Derivative assets	114,541	93,036
Interest receivable	90,011	85,070
Liabilities:
Deposits	14,628,905	14,356,953
Borrowings:
Federal funds purchased		171,560
Securities sold under repurchase agreements	152,523	167,396
Federal Home Loan Bank advances	695,425	615,211
Subordinated debentures and other borrowings	135,847	122,102
Derivative liabilities	114,014	92,770
Interest payable	16,473	7,530
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash and due from banks	125,173	122,594
Interest-bearing deposits	348,639	126,061
Investment securities available for sale	1,713	2,459
Investment securities held to maturity, net	0	0
Loans held for sale	0	0
Loans, net	0	0
Federal Home Loan Bank stock	0	0
Derivative assets	0	0
Interest receivable	0	0
Liabilities:
Deposits	12,524,202	13,105,936
Borrowings:
Federal funds purchased		0
Securities sold under repurchase agreements	0	0
Federal Home Loan Bank advances	0	0
Subordinated debentures and other borrowings	0	0
Derivative liabilities	0	0
Interest payable	0	0
Significant Other Observable Inputs (Level 2)
Assets:
Cash and due from banks	0	0
Interest-bearing deposits	0	0
Investment securities available for sale	1,495,195	1,970,763
Investment securities held to maturity, net	1,730,830	1,893,271
Loans held for sale	30,972	9,094
Loans, net	0	0
Federal Home Loan Bank stock	41,797	38,525
Derivative assets	114,541	93,036
Interest receivable	90,011	85,070
Liabilities:
Deposits	2,104,703	1,251,017
Borrowings:
Federal funds purchased		171,560
Securities sold under repurchase agreements	152,523	167,396
Federal Home Loan Bank advances	695,425	615,211
Subordinated debentures and other borrowings	135,847	122,102
Derivative liabilities	114,014	92,770
Interest payable	16,473	7,530
Significant Unobservable Inputs (Level 3)
Assets:
Cash and due from banks	0	0
Interest-bearing deposits	0	0
Investment securities available for sale	3,228	3,439
Investment securities held to maturity, net	10,395	14,594
Loans held for sale	0	0
Loans, net	11,801,546	11,156,217
Federal Home Loan Bank stock	0	0
Derivative assets	0	0
Interest receivable	0	0
Liabilities:
Deposits	0	0
Borrowings:
Federal funds purchased		0
Securities sold under repurchase agreements	0	0
Federal Home Loan Bank advances	0	0
Subordinated debentures and other borrowings	0	0
Derivative liabilities	0	0
Interest payable	0	0
Carrying Amount
Assets:
Cash and due from banks	125,173	122,594
Interest-bearing deposits	348,639	126,061
Investment securities available for sale	1,500,136	1,976,661
Investment securities held to maturity, net	2,213,588	2,287,127
Loans held for sale	30,972	9,094
Loans, net	12,065,640	11,780,617
Federal Home Loan Bank stock	41,797	38,525
Derivative assets	114,541	93,036
Interest receivable	90,011	85,070
Liabilities:
Deposits	14,646,576	14,382,745
Borrowings:
Federal funds purchased		171,560
Securities sold under repurchase agreements	152,537	167,413
Federal Home Loan Bank advances	713,384	823,674
Subordinated debentures and other borrowings	158,665	151,298
Derivative liabilities	114,014	92,770
Interest payable	$ 16,473	$ 7,530

INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost, Gross Unrealized Gains and Losses and Approximate Fair Value of Investment Securities


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale at September 30, 2023
U.S. Treasury	$	1,737	$	—	$	24	$	1,713
U.S. Government-sponsored agency securities	114,414		—		20,829		93,585
State and municipal	1,217,293		—		244,237		973,056
U.S. Government-sponsored mortgage-backed securities	536,530		—		116,567		419,963
Corporate obligations	12,960		—		1,141		11,819

Total available for sale	$	1,882,934	$	—	$	382,798	$	1,500,136


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale at December 31, 2022
U.S. Treasury	$	2,501	$	—	$	42	$	2,459
U.S. Government-sponsored agency securities	119,154		—		17,192		101,962
State and municipal	1,530,048		438		178,726		1,351,760
U.S. Government-sponsored mortgage-backed securities	608,630		1		100,358		508,273
Corporate obligations	13,014		—		807		12,207

Total available for sale	$	2,273,347	$	439	$	297,125	$	1,976,661


	Amortized Cost		Allowance for Credit Losses		Net Carrying Amount		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held to maturity at September 30, 2023
U.S. Government-sponsored agency securities	$	378,706	$	—	$	378,706	$	—	$	78,882	$	299,824
State and municipal	1,107,325		245		1,107,080		14		258,536		848,803
U.S. Government-sponsored mortgage-backed securities	726,302		—		726,302		—		135,163		591,139
Foreign investment	1,500		—		1,500		—		41		1,459
Total held to maturity	$	2,213,833	$	245	$	2,213,588	$	14	$	472,622	$	1,741,225


	Amortized Cost		Allowance for Credit Losses		Net Carrying Amount		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held to maturity at December 31, 2022
U.S. Government-sponsored agency securities	$	392,246	$	—	$	392,246	$	—	$	69,147	$	323,099
State and municipal	1,117,552		245		1,117,307		647		197,064		921,135
U.S. Government-sponsored mortgage-backed securities	776,074		—		776,074		—		113,915		662,159
Foreign investment	1,500		—		1,500		—		28		1,472
Total held to maturity	$	2,287,372	$	245	$	2,287,127	$	647	$	380,154	$	1,907,865

Summary of Amortized Cost of Investment Securities Held to Maturity Aggregated by Credit Quality Indicator


	Held to Maturity
	State and municipal		Other		Total
Credit Rating:
Aaa	$	114,709	$	70,585	$	185,294
Aa1	153,408		—		153,408
Aa2	181,369		—		181,369
Aa3	133,499		—		133,499
A1	131,310		—		131,310
A2	10,172		—		10,172
A3	10,125		—		10,125

Non-rated	372,733		1,035,923		1,408,656
Total	$	1,107,325	$	1,106,508	$	2,213,833

Summary of Investment Securities in a Continuous Unrealized Loss Position


	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale at September 30, 2023
U.S. Treasury	$	397	$	1	$	1,316	$	23	$	1,713	$	24
U.S. Government-sponsored agency securities	796		3		92,789		20,826		93,585		20,829
State and municipal	86,964		10,369		886,092		233,868		973,056		244,237
U.S. Government-sponsored mortgage-backed securities	11,273		453		408,686		116,114		419,959		116,567
Corporate obligations	—		—		11,788		1,141		11,788		1,141
Total investment securities available for sale	$	99,430	$	10,826	$	1,400,671	$	371,972	$	1,500,101	$	382,798


	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale at December 31, 2022
U.S. Treasury	$	2,459	$	42	$	—	$	—	$	2,459	$	42
U.S. Government-sponsored agency securities	48,940		4,973		53,022		12,219		101,962		17,192
State and municipal	1,177,104		150,096		108,652		28,630		1,285,756		178,726
U.S. Government-sponsored mortgage-backed securities	182,700		16,910		325,455		83,448		508,155		100,358
Corporate obligations	12,176		807		—		—		12,176		807
Total investment securities available for sale	$	1,423,379	$	172,828	$	487,129	$	124,297	$	1,910,508	$	297,125


	Gross Unrealized Losses		Number of Securities
Investment securities available for sale at September 30, 2023
U.S. Treasury	$	24	3
U.S. Government-sponsored agency securities	20,829		16
State and municipal	244,237		743
U.S. Government-sponsored mortgage-backed securities	116,567		164
Corporate obligations	1,141		10
Total investment securities available for sale	$	382,798	936


	Gross Unrealized Losses		Number of Securities
Investment securities available for sale at December 31, 2022
U.S. Treasury	$	42	5
U.S. Government-sponsored agency securities	17,192		16
State and municipal	178,726		946
U.S. Government-sponsored mortgage-backed securities	100,358		177
Corporate obligations	807		10
Total investment securities available for sale	$	297,125	1,154

Summary of Investments in Debt and Equity Securities Reported in the Financial Statements at an Amount Less Than Their Historical Cost

Certain investment securities available for sale are reported in the financial statements at an amount less than their historical cost as indicated in the table below.


	September 30, 2023			December 31, 2022
Investments available for sale reported at less than historical cost:
Historical cost	$	1,882,899		$	2,207,633
Fair value	1,500,101			1,910,508
Gross unrealized losses	$	382,798		$	297,125
Percent of the Corporation's investments available for sale	99.99		%	96.65		%

Summary of Amortized Cost and Fair Value of Available for Sale Securities and Held to Maturity Securities by Contractual Maturity


	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity Distribution at September 30, 2023
Due in one year or less	$	3,403	$	3,356	$	9,422	$	9,397
Due after one through five years	27,736		25,266		116,894		106,277
Due after five through ten years	127,442		110,668		134,603		117,134
Due after ten years	1,187,823		940,883		1,226,612		917,278
	1,346,404		1,080,173		1,487,531		1,150,086
U.S. Government-sponsored mortgage-backed securities	536,530		419,963		726,302		591,139

Total investment securities	$	1,882,934	$	1,500,136	$	2,213,833	$	1,741,225


	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity Distribution at December 31, 2022
Due in one year or less	$	2,822	$	2,809	$	13,697	$	13,749
Due after one through five years	11,694		11,265		80,697		76,453
Due after five through ten years	169,729		161,211		147,078		135,027
Due after ten years	1,480,472		1,293,103		1,269,826		1,020,477
	1,664,717		1,468,388		1,511,298		1,245,706
U.S. Government-sponsored mortgage-backed securities	608,630		508,273		776,074		662,159

Total investment securities	$	2,273,347	$	1,976,661	$	2,287,372	$	1,907,865

Summary of Gross Gains and Losses on Sales and Redemptions of Available for Sale Securities

Gross gains and losses on the sales and redemptions of investment securities available for sale for the three and nine months ended September 30, 2023 and 2022 are shown below.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Sales and redemptions of investment securities available for sale:
Gross gains	$	—	$	495	$	759	$	1,176
Gross losses	(1,650)		(14)		(5,372)		(39)

Net gains (losses) on sales and redemptions of investment securities available for sale	$	(1,650)	$	481	$	(4,613)	$	1,137

INVESTMENT SECURITIES - Investments in Debt and Equity Securities Reported Less than Historical Cost (Details) - Investments reported at less than historical cost - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Historical cost	$ 1,882,899	$ 2,207,633
Fair value	1,500,101	1,910,508
Gross unrealized losses	$ 382,798	$ 297,125
Percent of the Corporation's investments available for sale	99.99%	96.65%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

LOANS AND ALLOWANCE (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Summary of Composition of Loan Portfolio by Loan Class

The following table illustrates the composition of the Corporation’s loan portfolio by loan class as of the dates indicated:


	September 30, 2023		December 31, 2022

Commercial and industrial loans	$	3,490,953	$	3,437,126
Agricultural land, production and other loans to farmers	233,838		241,793
Real estate loans:
Construction	1,022,261		835,582
Commercial real estate, non-owner occupied	2,360,596		2,407,475
Commercial real estate, owner occupied	1,153,707		1,246,528
Residential	2,257,385		2,096,655
Home equity	609,352		630,632
Individuals' loans for household and other personal expenditures	176,523		175,211
Public finance and other commercial loans	966,807		932,892
Loans	$	12,271,422	$	12,003,894

Summary of Credit Quality of Loan Portfolio by Loan Class


	September 30, 2023
	Term Loans (amortized cost basis by origination year)												Revolving loans amortized		Revolving loans converted
	2023		2022		2021		2020		2019		Prior		cost basis		to term		Total
Commercial and industrial loans
Pass	$	901,876	$	548,276	$	296,471	$	95,426	$	53,498	$	49,094	$	1,374,146	$	50	$	3,318,837
Special Mention	9,450		11,955		6,428		5,470		114		897		28,202		—		62,516
Substandard	5,902		20,082		16,554		1,959		4,701		1,655		48,890		—		99,743
Doubtful	908		3,945		—		2,149		—		—		2,855		—		9,857

Total Commercial and industrial loans	918,136		584,258		319,453		105,004		58,313		51,646		1,454,093		50		3,490,953
Current period gross write-offs	13,901		508		400		5,588		76		239		—		—		20,712
Agricultural land, production and other loans to farmers
Pass	22,521		38,866		33,059		32,234		13,819		26,251		65,513		—		232,263
Special Mention	—		266		—		—		—		597		—		—		863
Substandard	34		156		—		458		—		64		—		—		712


Total Agricultural land, production and other loans to farmers	22,555		39,288		33,059		32,692		13,819		26,912		65,513		—		233,838
Current period gross write-offs	—		—		—		—		—		—		—		—		—
Real estate loans:
Construction
Pass	362,578		295,563		266,129		14,325		4,047		2,526		11,577		—		956,745
Special Mention	35,063		424		—		20,846		—		—		—		—		56,333
Substandard	13		3,882		5,288		—		—		—		—		—		9,183


Total Construction	397,654		299,869		271,417		35,171		4,047		2,526		11,577		—		1,022,261
Current period gross write-offs	—		—		—		—		—		—		—		—		—
Commercial real estate, non-owner occupied
Pass	214,579		529,237		533,207		471,278		142,636		225,787		31,615		—		2,148,339
Special Mention	64,871		22,956		7,842		3,641		26,567		32,842		47		—		158,766
Substandard	18,666		9,807		92		22,216		—		2,339		247		—		53,367
Doubtful	—		124		—		—		—		—		—		—		124

Total Commercial real estate, non-owner occupied	298,116		562,124		541,141		497,135		169,203		260,968		31,909		—		2,360,596
Current period gross write-offs	—		2		—		—		—		—		—		—		2
Commercial real estate, owner occupied
Pass	119,212		207,077		270,151		269,190		101,546		87,685		27,327		—		1,082,188
Special Mention	5,178		13,603		9,437		6,053		2,831		5,110		334		—		42,546
Substandard	15,113		1,339		4,228		2,486		17		5,163		627		—		28,973


Total Commercial real estate, owner occupied	139,503		222,019		283,816		277,729		104,394		97,958		28,288		—		1,153,707
Current period gross write-offs	—		—		—		—		2		—		—		—		2
Residential
Pass	332,210		691,941		451,830		372,247		105,548		265,879		4,878		65		2,224,598
Special Mention	1,087		5,304		4,034		1,710		1,578		6,501		2,588		—		22,802
Substandard	357		3,338		2,234		974		528		2,523		31		—		9,985


Total Residential	333,654		700,583		458,098		374,931		107,654		274,903		7,497		65		2,257,385
Current period gross write-offs	—		42		135		3		—		63		—		—		243
Home equity
Pass	9,155		34,784		64,438		11,511		1,162		4,566		472,517		2,065		600,198
Special Mention	120		720		41		1,114		—		168		4,108		371		6,642
Substandard	63		—		599		—		—		93		1,374		383		2,512


Total Home Equity	9,338		35,504		65,078		12,625		1,162		4,827		477,999		2,819		609,352
Current period gross write-offs	—		160		182		149		193		1,422		—		—		2,106
Individuals' loans for household and other personal expenditures
Pass	32,590		52,860		31,275		8,070		2,735		6,572		40,907		597		175,606
Special Mention	29		388		250		34		11		11		193		1		917
Substandard	—		—		—		—		—		—		—		—		—


Total Individuals' loans for household and other personal expenditures	32,619		53,248		31,525		8,104		2,746		6,583		41,100		598		176,523
Current period gross write-offs	98		591		291		77		57		151		—		—		1,265
Public finance and other commercial loans
Pass	61,235		209,069		206,637		157,399		91,705		231,931		8,831		—		966,807




Total Public finance and other commercial loans	61,235		209,069		206,637		157,399		91,705		231,931		8,831		—		966,807
Loans	$	2,212,810	$	2,705,962	$	2,210,224	$	1,500,790	$	553,043	$	958,254	$	2,126,807	$	3,532	$	12,271,422
Total current period gross charge-offs	$	13,999	$	1,303	$	1,008	$	5,817	$	328	$	1,875	$	—	$	—	$	24,330


	December 31, 2022
	Term Loans (amortized cost basis by origination year)												Revolving loans amortized		Revolving loans converted
	2022		2021		2020		2019		2018		Prior		cost basis		to term		Total
Commercial and industrial loans
Pass	$	1,064,687	$	531,504	$	141,985	$	114,999	$	43,136	$	45,310	$	1,302,562	$	5,048	$	3,249,231
Special Mention	2,164		18,005		11,900		5,727		1,012		2,181		27,702		150		68,841
Substandard	27,512		26,571		5,531		10,606		4,674		567		43,450		143		119,054


Total Commercial and industrial loans	1,094,363		576,080		159,416		131,332		48,822		48,058		1,373,714		5,341		3,437,126
Agricultural land, production and other loans to farmers
Pass	44,446		36,299		35,791		15,296		3,752		28,910		73,402		—		237,896
Special Mention	286		784		—		—		281		632		—		—		1,983
Substandard	178		—		490		—		94		1,152		—		—		1,914


Total Agricultural land, production and other loans to farmers	44,910		37,083		36,281		15,296		4,127		30,694		73,402		—		241,793
Real estate loans:
Construction
Pass	366,414		301,986		117,541		11,428		857		3,224		17,167		—		818,617
Special Mention	16,922		—		—		—		—		—		—		—		16,922
Substandard	31		—		—		—		—		12		—		—		43


Total Construction	383,367		301,986		117,541		11,428		857		3,236		17,167		—		835,582
Commercial real estate, non-owner occupied
Pass	560,146		603,254		550,605		168,701		116,859		190,264		31,196		3,803		2,224,828
Special Mention	49,439		4,026		38,268		18,785		11,546		17,992		—		—		140,056
Substandard	21,123		8,128		8,026		—		4,442		872		—		—		42,591


Total Commercial real estate, non-owner occupied	630,708		615,408		596,899		187,486		132,847		209,128		31,196		3,803		2,407,475
Commercial real estate, owner occupied
Pass	260,725		316,665		330,441		114,015		63,816		81,286		33,123		3,378		1,203,449
Special Mention	7,744		6,125		2,245		3,481		1,210		2,984		1,328		—		25,117
Substandard	3,124		1,214		2,376		1,608		2,920		6,720		—		—		17,962


Total Commercial real estate, owner occupied	271,593		324,004		335,062		119,104		67,946		90,990		34,451		3,378		1,246,528
Residential
Pass	758,161		489,301		401,353		114,420		77,768		229,812		5,365		46		2,076,226
Special Mention	2,839		2,924		1,972		513		396		2,588		34		—		11,266
Substandard	1,399		1,824		1,811		805		1,468		1,741		60		55		9,163


Total Residential	762,399		494,049		405,136		115,738		79,632		234,141		5,459		101		2,096,655
Home equity
Pass	40,768		75,670		14,621		1,572		1,348		3,325		486,924		281		624,509
Special Mention	—		—		—		—		115		8		3,698		—		3,821
Substandard	—		79		—		—		65		60		2,098		—		2,302


Total Home Equity	40,768		75,749		14,621		1,572		1,528		3,393		492,720		281		630,632
Individuals' loans for household and other personal expenditures
Pass	67,883		43,639		13,025		5,389		5,830		3,775		35,091		—		174,632
Special Mention	178		134		77		33		28		17		16		—		483
Substandard	1		—		3		—		84		8		—		—		96


Total Individuals' loans for household and other personal expenditures	68,062		43,773		13,105		5,422		5,942		3,800		35,107		—		175,211
Public finance and other commercial loans
Pass	187,125		212,702		165,019		98,687		43,760		204,719		20,880		—		932,892




Total Public finance and other commercial loans	187,125		212,702		165,019		98,687		43,760		204,719		20,880		—		932,892
Loans	$	3,483,295	$	2,680,834	$	1,843,080	$	686,065	$	385,461	$	828,159	$	2,084,096	$	12,904	$	12,003,894


	September 30, 2023
	Commercial Real Estate		Residential Real Estate		Other		Total		Allowance on Collateral Dependent Loans
Commercial and industrial loans	$	—	$	—	$	39,343	$	39,343	$	14,542

Real estate loans:
Construction	—		8		—		8		1
Commercial real estate, non-owner occupied	17,145		—		—		17,145		57
Commercial real estate, owner occupied	10,568		—		—		10,568		—
Residential	—		1,464		—		1,464		235
Home equity	—		227		—		227		31


Loans	$	27,713	$	1,699	$	39,343	$	68,755	$	14,866


	December 31, 2022
	Commercial Real Estate		Residential Real Estate		Other		Total		Allowance on Collateral Dependent Loans
Commercial and industrial loans	$	—	$	—	$	42,101	$	42,101	$	8,367

Real estate loans:
Construction	—		10		—		10		1
Commercial real estate, non-owner occupied	26,534		—		—		26,534		2,064
Commercial real estate, owner occupied	6,986		—		—		6,986		776
Residential	—		2,382		—		2,382		260
Home equity	—		289		—		289		44


Loans	$	33,520	$	2,681	$	42,101	$	78,302	$	11,512

Summary of Past Due Aging of Loan Portfolio by Loan Class

The tables below show a past due aging of the Corporation’s loan portfolio, by loan class, as of the dates indicated:


	September 30, 2023
	Current		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total		Loans > 90 Days or More Past Due And Accruing
Commercial and industrial loans	$	3,474,368	$	4,005	$	3,224	$	9,356	$	3,490,953	$	12
Agricultural land, production and other loans to farmers	233,811		—		—		27		233,838		—
Real estate loans:
Construction	1,021,537		300		424		—		1,022,261		—
Commercial real estate, non-owner occupied	2,343,002		4,603		1,913		11,078		2,360,596		—
Commercial real estate, owner occupied	1,150,029		2,368		1,225		85		1,153,707		—
Residential	2,227,184		10,884		10,405		8,912		2,257,385		39
Home equity	602,829		2,878		1,325		2,320		609,352		38
Individuals' loans for household and other personal expenditures	175,605		773		145		—		176,523		—

Public finance and other commercial loans	966,774		33		—		—		966,807		—
Loans	$	12,195,139	$	25,844	$	18,661	$	31,778	$	12,271,422	$	89


	December 31, 2022
	Current		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total		Loans > 90 Days or More Past Due And Accruing
Commercial and industrial loans	$	3,429,314	$	4,904	$	434	$	2,474	$	3,437,126	$	1,147
Agricultural land, production and other loans to farmers	241,739		—		—		54		241,793		—
Real estate loans:
Construction	832,716		2,436		418		12		835,582		—
Commercial real estate, non-owner occupied	2,395,495		5,946		881		5,153		2,407,475		264
Commercial real estate, owner occupied	1,241,714		4,495		—		319		1,246,528		—
Residential	2,079,959		8,607		2,278		5,811		2,096,655		—
Home equity	624,543		2,206		1,782		2,101		630,632		326
Individuals' loans for household and other personal expenditures	174,629		343		142		97		175,211		—

Public finance and other commercial loans	932,778		114		—		—		932,892		—
Loans	$	11,952,887	$	29,051	$	5,935	$	16,021	$	12,003,894	$	1,737

Summary of Non-Accrual Loans by Loan class

The following table summarizes the Corporation’s nonaccrual loans by loan class as of the dates indicated:


	September 30, 2023				December 31, 2022
	Nonaccrual Loans		Nonaccrual Loans with no Allowance for Credit Losses		Nonaccrual Loans		Nonaccrual Loans with no Allowance for Credit Losses
Commercial and industrial loans	$	14,737	$	1,020	$	3,292	$	481
Agricultural land, production and other loans to farmers	61		—		54		—
Real estate loans:
Construction	724		—		12		—
Commercial real estate, non-owner occupied	11,575		11,293		19,374		280
Commercial real estate, owner occupied	3,125		2,314		3,550		2,784
Residential	20,244		—		13,685		702
Home equity	2,534		—		2,247		—
Individuals' loans for household and other personal expenditures	102		—		110		—

Loans	$	53,102	$	14,627	$	42,324	$	4,247

Summary of Modified Loans

The following tables present the amortized cost basis of loans at September 30, 2023 that were both experiencing financial difficulty and modified during the three and nine months ended September 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below.


	Three Months Ended September 30, 2023
	Loan Modifications Made to Borrowers Experiencing Financial Difficulty
	Payment Delay		Term Extension		Combination Interest Rate Reduction & Term Extension		Combination Payment Delay & Term Extension		% of Total Class of Financing Receivable
Commercial and industrial loans	$	908	$	7,734	$	134	$	—		0.25	%

Real estate loans:

Commercial real estate, non-owner occupied	—		11,823		—		—			0.50	%
Commercial real estate, owner occupied	—		6,950		—		—			0.60	%

Home equity	—		63		—		—			0.01	%
Individuals' loans for household and other personal expenditures	—		—		—		1			—	%

Total	$	908	$	26,570	$	134	$	1


	Nine Months Ended September 30, 2023
	Loan Modifications Made to Borrowers Experiencing Financial Difficulty
	Payment Delay		Term Extension		Combination Interest Rate Reduction & Term Extension		Combination Payment Delay & Term Extension		% of Total Class of Financing Receivable
Commercial and industrial loans	$	908	$	14,822	$	239	$	—	0.46	%
Agricultural land, production and other loans to farmers	—		34		—		—		0.01	%
Real estate loans:
Construction	—		13		—		—		—	%
Commercial real estate, non-owner occupied	—		11,823		5,942		—		0.75	%
Commercial real estate, owner occupied	5,602		8,642		75		—		1.24	%
Residential	—		—		—		472		0.02	%
Home equity	—		63		—		—		0.01	%
Individuals' loans for household and other personal expenditures	—		—		—		1		—	%

Total	$	6,510	$	35,397	$	6,256	$	473

The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three and nine months ended September 30, 2023.

Three Months Ended September 30, 2023

Financial Effect of Loan Modifications

Payment Delay

Term Extension

Combination Interest Rate Reduction & Term Extension

Combination Payment Delay & Term Extension

Commercial and industrial loans

Provided payment deferrals with weighted average delayed amounts of $24,000.

Extended loans by a weighted average of 8 months

Reduced the weighted average contractual interest rate from 10.75% to 7.62%. Extended loans by a weighted average of 14 months.

Real estate loans:

Commercial real estate, non-owner occupied

Extended loans by a weighted average of 11 months.

Commercial real estate, owner occupied

Extended loans by a weighted average of 4 months.

Residential

Provided payment deferrals with weighted average delayed amounts of $300. Extended loans by a weighted average of 3 months.

Home equity

Extended loans by a weighted average of 5 months.

Nine Months Ended September 30, 2023

Financial Effect of Loan Modifications

Payment Delay

Term Extension

Combination Interest Rate Reduction & Term Extension

Combination Payment Delay & Term Extension

Commercial and industrial loans

Provided payment deferrals with weighted average delayed amounts of $24,000

Extended loans by a weighted average of 8 months.

Reduced the weighted average contractual interest rate from 9.66% to 7.39%. Extended loans by a weighted average of 13 months.

Agricultural land, production and other loans to farmers

Extended loans by a weighted average of 60 months.

Real estate loans:

Construction

Extended loans by a weighted average of 24 months.

Commercial real estate, non-owner occupied

Extended loans by a weighted average of 10 months.

Reduced the weighted average contractual interest rate from 7.81% to 7.40%. Extended loans by a weighted average of 41 months.

Commercial real estate, owner occupied

Provided payment deferrals with weighted average delayed amounts of $4.5 million.

Extended loans by a weighted average of 4 months.

Reduced the weighted average contractual interest rate from 10.25% to 6.61%. Extended loans by a weighted average of 114 months.

Residential

Provided payment deferrals with weighted average delayed amounts $3,400. Extended loans by a weighted average of 3 months.

Home equity

Extended loans by a weighted average of 5 months.

Provided payment deferrals with weighted average delayed amounts $300. Extended loans by a weighted average of 3 months.


	Three Months Ended September 30, 2023
	Payment Status
	Current		30-89 Days Past Due
Commercial and industrial loans	$	8,776	$	—

Real estate loans:

Commercial real estate, non-owner occupied	11,823		—
Commercial real estate, owner occupied	6,950		—

Home equity	63		—
Individuals' loans for household and other personal expenditures	—		1

Total	$	27,612	$	1


	Nine Months Ended September 30, 2023
	Payment Status
	Current		30-89 Days Past Due
Commercial and industrial loans	$	15,863	$	106
Agricultural land, production and other loans to farmers	34		—
Real estate loans:
Construction	13		—
Commercial real estate, non-owner occupied	17,765		—
Commercial real estate, owner occupied	13,157		1,162
Residential	472		—
Home equity	63		—
Individuals' loans for household and other personal expenditures	—		1

Total	$	47,367	$	1,269

Schedule of Purchased Credit Deteriorated Loans

The carrying amount of those loans is shown in the table below:


	Level One
Purchase price of loans at acquisition	$	41,347
CECL Day 1 PCD ACL	16,599

Par value of acquired loans at acquisition	$	57,946

Summary of Changes in Allowance for Loan Losses

The following tables summarize changes in the allowance for credit losses by loan segment for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30, 2023
	Commercial		Commercial Real Estate		Construction		Consumer & Residential		Total
Allowance for credit losses
Balances, June 30, 2023	$	108,373	$	39,157	$	30,073	$	43,544	$	221,147



Provision for credit losses	3,020		4,901		140		(3,061)		5,000


Recoveries on loans	179		—		—		367		546
Loans charged off	(19,833)		—		—		(1,078)		(20,911)
Balances, September 30, 2023	$	91,739	$	44,058	$	30,213	$	39,772	$	205,782



	Nine Months Ended September 30, 2023
	Commercial		Commercial Real Estate		Construction		Consumer & Residential		Total
Allowance for credit losses
Balances, December 31, 2022	$	102,216	$	46,839	$	28,955	$	45,267	$	223,277
Provision for credit losses	9,460		(2,833)		1,258		(2,885)		5,000


Recoveries on loans	775		56		—		1,004		1,835
Loans charged off	(20,712)		(4)		—		(3,614)		(24,330)
Balances, September 30, 2023	$	91,739	$	44,058	$	30,213	$	39,772	$	205,782


	Three Months Ended September 30, 2022
	Commercial		Commercial Real Estate		Construction		Consumer & Residential		Total
Allowance for credit losses
Balances, June 30, 2022	$	94,228	$	55,328	$	27,401	$	49,318	$	226,275
Provision for credit losses	10,142		(7,054)		186		(3,274)		—


Recoveries on loans	81		188		824		222		1,315
Loans charged off	(306)		(1)		—		(581)		(888)
Balances, September 30, 2022	$	104,145	$	48,461	$	28,411	$	45,685	$	226,702



	Nine Months Ended September 30, 2022
	Commercial		Commercial Real Estate		Construction		Consumer & Residential		Total
Allowance for credit losses
Balances, December 31, 2021	$	69,935	$	60,665	$	20,206	$	44,591	$	195,397
Provision for credit losses	18,518		(21,697)		5,862		(2,683)		—
CECL Day 1 non-PCD provision for credit losses	2,957		5,539		871		4,588		13,955
CECL Day 1 PCD ACL	12,970		2,981		648		—		16,599
Recoveries on loans	789		1,096		824		827		3,536
Loans charged off	(1,024)		(123)		—		(1,638)		(2,785)
Balances, September 30, 2022	$	104,145	$	48,461	$	28,411	$	45,685	$	226,702

Summary of Financial Instruments with Off-balance Sheet Risk

Financial instruments with off-balance sheet risk were as follows:


	September 30, 2023		December 31, 2022
Amounts of commitments:
Loan commitments to extend credit	$	5,074,572	$	4,950,724
Standby letters of credit	$	39,812	$	40,784

Summary of Allowance for Credit Losses, Off-balance Sheet

The table below reflects the total allowance for credit losses for the off-balance sheet commitment for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Balance at beginning of the period	$	23,300	$	23,300	$	23,300	$	20,500

Provision for credit losses - unfunded commitments related to Level One	—		—		—		2,800
Provision for credit losses - unfunded commitments	(3,000)		—		(3,000)		—
Ending balance	$	20,300	$	23,300	$	20,300	$	23,300

LOANS AND ALLOWANCE - Amortized Cost Basis of Collateral Dependent Loans (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	$ 68,755		$ 78,302
Allowance on Collateral Dependent Loans	205,782	$ 221,147	223,277	$ 226,702	$ 226,275	$ 195,397
Commercial and industrial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	39,343		42,101
Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	8		10
Commercial real estate, non-owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	17,145		26,534
Commercial real estate, owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	10,568		6,986
Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	1,464		2,382
Home equity
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	227		289
Allowance on Collateral Dependent Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance on Collateral Dependent Loans	14,866		11,512
Decrease in individually evaluated for impairment	9,500
Net recoveries	3,400
Allowance on Collateral Dependent Loans \| Commercial and industrial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance on Collateral Dependent Loans	14,542		8,367
Net recoveries	6,200
Allowance on Collateral Dependent Loans \| Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance on Collateral Dependent Loans	1		1
Allowance on Collateral Dependent Loans \| Commercial real estate, non-owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance on Collateral Dependent Loans	57		2,064
Decrease in individually evaluated for impairment	9,400
Net recoveries	(2,000)
Allowance on Collateral Dependent Loans \| Commercial real estate, owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance on Collateral Dependent Loans	0		776
Allowance on Collateral Dependent Loans \| Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance on Collateral Dependent Loans	235		260
Allowance on Collateral Dependent Loans \| Home equity
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance on Collateral Dependent Loans	31		44
Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	27,713		33,520
Commercial Real Estate \| Commercial and industrial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Commercial Real Estate \| Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Commercial Real Estate \| Commercial real estate, non-owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	17,145		26,534
Commercial Real Estate \| Commercial real estate, owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	10,568		6,986
Commercial Real Estate \| Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Commercial Real Estate \| Home equity
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Residential Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	1,699		2,681
Residential Real Estate \| Commercial and industrial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Residential Real Estate \| Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	8		10
Residential Real Estate \| Commercial real estate, non-owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Residential Real Estate \| Commercial real estate, owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Residential Real Estate \| Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	1,464		2,382
Residential Real Estate \| Home equity
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	227		289
Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	39,343		42,101
Other \| Commercial and industrial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	39,343		42,101
Other \| Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Other \| Commercial real estate, non-owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Other \| Commercial real estate, owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Other \| Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0		0
Other \| Home equity
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	$ 0		$ 0

INCOME TAX (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Federal Statutory to Actual Tax Expense


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022








Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	13,728		$	15,445		$	44,589		$	36,176
Tax-exempt interest income	(4,469)			(4,974)			(13,792)			(14,371)

Share-based compensation	(108)			(79)			(172)			(146)
Tax-exempt earnings and gains on life insurance	(369)			(1,397)			(1,080)			(2,026)
Tax credits	(84)			(122)			(249)			(292)

State Income Tax	254			658			1,474			1,177
Other	53			262			251			420
Actual Tax Expense	$	9,005		$	9,793		$	31,021		$	20,938

Effective Tax Rate	13.8		%	13.3		%	14.6		%	12.2		%

GOODWILL - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Apr. 01, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill	$ 712,002	$ 712,002		$ 545,385
Level One
Goodwill [Line Items]
Goodwill			$ 166,617

- Definition

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

FAIR VALUES OF FINANCIAL INSTRUMENTS - Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements Other Than Goodwill (Details) - Significant Unobservable Inputs (Level 3) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
State and municipal securities \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 3,193	$ 3,404
State and municipal securities \| Discounted cash flow \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Maturity/Call date	1 month	1 month
US Muni BQ curve		A-
State and municipal securities \| Discounted cash flow \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Maturity/Call date	15 years	15 years
US Muni BQ curve	BBB	BBB
State and municipal securities \| Discounted cash flow \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.042	0.004
State and municipal securities \| Discounted cash flow \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.051	0.04
State and municipal securities \| Discounted cash flow \| Weighted-average coupon \| Weighted-average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.033	0.034
Corporate obligations and U.S. Government-sponsored mortgage-backed securities \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 35	$ 35
Corporate obligations and U.S. Government-sponsored mortgage-backed securities \| Discounted cash flow \| Weighted-average coupon \| Weighted-average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Corporate obligations and U.S. Government-sponsored mortgage-backed securities \| Discounted cash flow \| Risk free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount rate description		3 month LIBOR
Measurement input	0.0026
Corporate obligations and U.S. Government-sponsored mortgage-backed securities \| Discounted cash flow \| plus premium for illiquidity (basis points)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0200	0.0200
Collateral dependent loans \| Collateral based measurements
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 50,607	$ 55,290
Collateral dependent loans \| Collateral based measurements \| Discount to reflect current market conditions and ultimate collectability \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Collateral dependent loans \| Collateral based measurements \| Discount to reflect current market conditions and ultimate collectability \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.10	0.10
Collateral dependent loans \| Collateral based measurements \| Discount to reflect current market conditions and ultimate collectability \| Weighted-average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.048	0.011
Other real estate owned \| Appraisals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 362
Other real estate owned \| Appraisals \| Discount to reflect current market conditions \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, measurement input	0
Other real estate owned \| Appraisals \| Discount to reflect current market conditions \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, measurement input	0.10
Other real estate owned \| Appraisals \| Discount to reflect current market conditions \| Weighted-average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, measurement input	0.072

ACCUMULATED OTHER COMPREHENSIVE LOSS - Reclassification out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Other income - net realized gains (losses) on sales of available for sale securities	$ (1,650)	$ 481	$ (4,613)	$ 1,137
Interest expense - subordinated debentures and term loans	2,506	2,105	7,303	5,780
Income tax expense	(9,005)	(9,793)	(31,021)	(20,938)
Total reclassifications for the period, net of tax	56,366	63,752	181,307	151,329	$ 151,329
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period, net of tax	(1,304)	318	(3,656)	506
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) \| Unrealized gains (losses) on available for sale securities
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Other income - net realized gains (losses) on sales of available for sale securities	(1,650)	481	(4,613)	1,137
Income tax expense	346	(101)	969	(239)
Total reclassifications for the period, net of tax	(1,304)	380	(3,644)	898
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) \| Unrealized gains (losses) on cash flow hedges
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	0	16	3	104
Total reclassifications for the period, net of tax	0	(62)	(12)	(392)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) \| Unrealized gains (losses) on cash flow hedges \| Interest rate contracts
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Interest expense - subordinated debentures and term loans	$ 0	$ (78)	$ (15)	$ (496)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

INVESTMENT SECURITIES - Investments' Gross Unrealized Losses and Fair Value Aggregated by Investment Category and Length of Time in Continuous Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Fair Value
Less than 12 Months	$ 99,430	$ 1,423,379
12 Months or Longer	1,400,671	487,129
Total	1,500,101	1,910,508
Gross Unrealized Losses
Less than 12 Months	10,826	172,828
12 Months or Longer	371,972	124,297
Total	$ 382,798	$ 297,125
Number of Securities \| security	936	1,154
U.S. Treasury
Fair Value
Less than 12 Months	$ 397	$ 2,459
12 Months or Longer	1,316	0
Total	1,713	2,459
Gross Unrealized Losses
Less than 12 Months	1	42
12 Months or Longer	23	0
Total	$ 24	$ 42
Number of Securities \| security	3	5
U.S. Government-sponsored agency securities
Fair Value
Less than 12 Months	$ 796	$ 48,940
12 Months or Longer	92,789	53,022
Total	93,585	101,962
Gross Unrealized Losses
Less than 12 Months	3	4,973
12 Months or Longer	20,826	12,219
Total	$ 20,829	$ 17,192
Number of Securities \| security	16	16
State and municipal
Fair Value
Less than 12 Months	$ 86,964	$ 1,177,104
12 Months or Longer	886,092	108,652
Total	973,056	1,285,756
Gross Unrealized Losses
Less than 12 Months	10,369	150,096
12 Months or Longer	233,868	28,630
Total	$ 244,237	$ 178,726
Number of Securities \| security	743	946
U.S. Government-sponsored mortgage-backed securities
Fair Value
Less than 12 Months	$ 11,273	$ 182,700
12 Months or Longer	408,686	325,455
Total	419,959	508,155
Gross Unrealized Losses
Less than 12 Months	453	16,910
12 Months or Longer	116,114	83,448
Total	$ 116,567	$ 100,358
Number of Securities \| security	164	177
Corporate obligations
Fair Value
Less than 12 Months	$ 0	$ 12,176
12 Months or Longer	11,788	0
Total	11,788	12,176
Gross Unrealized Losses
Less than 12 Months	0	807
12 Months or Longer	1,141	0
Total	$ 1,141	$ 807
Number of Securities \| security	10	10

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

INVESTMENT SECURITIES - Amortized Cost and Fair Value of Available for Sale Securities and Held to Maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 3,403	$ 2,822
Due after one through five years	27,736	11,694
Due after five through ten years	127,442	169,729
Due after ten years	1,187,823	1,480,472
Total debt securities with a single maturity date	1,346,404	1,664,717
Total investment securities	1,882,934	2,273,347
Fair Value
Due in one year or less	3,356	2,809
Due after one through five years	25,266	11,265
Due after five through ten years	110,668	161,211
Due after ten years	940,883	1,293,103
Total debt securities with a single maturity date	1,080,173	1,468,388
Total investment securities	1,500,136	1,976,661
Amortized Cost
Due in one year or less	9,422	13,697
Due after one through five years	116,894	80,697
Due after five through ten years	134,603	147,078
Due after ten years	1,226,612	1,269,826
Total debt securities with a single maturity date	1,487,531	1,511,298
Total investment securities	2,213,833	2,287,372
Fair Value
Due in one year or less	9,397	13,749
Due after one through five years	106,277	76,453
Due after five through ten years	117,134	135,027
Due after ten years	917,278	1,020,477
Total debt securities with a single maturity date	1,150,086	1,245,706
Total investment securities	1,741,225	1,907,865
U.S. Government-sponsored mortgage-backed securities
Amortized Cost
U.S. Government-sponsored mortgage-backed securities	536,530	608,630
Fair Value
U.S. Government-sponsored mortgage-backed securities	419,963	508,273
Total investment securities	419,963	508,273
Amortized Cost
U.S. Government-sponsored mortgage-backed securities	726,302	776,074
Total investment securities	726,302	776,074
Fair Value
U.S. Government-sponsored mortgage-backed securities	591,139	662,159
Total investment securities	$ 591,139	$ 662,159

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Loans receivable:
Taxable	$ 191,705	$ 128,504	$ 550,314	$ 314,366
Tax exempt	8,288	6,500	23,757	18,194
Investment securities:
Taxable	8,590	10,055	26,563	28,937
Tax exempt	13,947	17,261	44,296	50,348
Deposits with financial institutions	5,884	704	9,685	1,544
Federal Home Loan Bank stock	719	314	2,281	635
Total Interest Income	229,133	163,338	656,896	414,024
INTEREST EXPENSE
Deposits	85,551	16,644	209,437	29,423
Federal funds purchased	0	418	1,420	494
Securities sold under repurchase agreements	797	372	2,624	595
Federal Home Loan Bank advances	6,896	3,493	20,775	6,485
Subordinated debentures and other borrowings	2,506	2,105	7,303	5,780
Total Interest Expense	95,750	23,032	241,559	42,777
NET INTEREST INCOME	133,383	140,306	415,337	371,247
Provision for credit losses	2,000	0	2,000	16,755
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	131,383	140,306	413,337	354,492
NONINTEREST INCOME
Net gains and fees on sales of loans	5,517	2,543	11,548	7,968
Increase in cash surrender value of life insurance	1,210	1,376	3,813	3,831
Gains on life insurance benefits	551	5,279	1,332	5,828
Net realized gains (losses) on sales of available for sale securities	(1,650)	481	(4,613)	1,137
Other income (loss)	1,229	(425)	2,874	1,257
Total Noninterest Income	27,842	29,617	79,158	83,791
NONINTEREST EXPENSES
Salaries and employee benefits	55,566	56,002	167,778	154,562
Net occupancy	6,837	6,738	20,770	19,573
Equipment	5,698	5,997	18,005	17,797
Marketing	2,369	2,401	4,780	4,551
Outside data processing fees	6,573	6,827	19,290	16,071
Printing and office supplies	333	472	1,150	1,198
Intangible asset amortization	2,182	2,303	6,561	5,972
FDIC assessments	2,981	2,824	7,117	7,940
Other real estate owned and foreclosure expenses	677	328	1,575	626
Professional and other outside services	3,833	4,461	12,191	17,681
Other expenses	6,805	8,025	20,950	20,045
Total Noninterest Expenses	93,854	96,378	280,167	266,016
INCOME BEFORE INCOME TAX	65,371	73,545	212,328	172,267
Income tax expense	9,005	9,793	31,021	20,938
NET INCOME	56,366	63,752	181,307	151,329
Preferred stock dividends	468	469	1,406	938
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$ 55,898	$ 63,283	$ 179,901	$ 150,391
Per Share Data:
Basic Net Income Available to Common Stockholders (in dollars per share)	$ 0.95	$ 1.08	$ 3.04	$ 2.63
Diluted Net Income Available to Common Stockholders (in dollars per share)	0.94	1.08	3.03	2.62
Cash Dividends Paid (in dollars per share)	$ 0.34	$ 0.32	$ 1.00	$ 0.93
Average Diluted Common Shares Outstanding (in shares)	59,502,525	59,338,729	59,465,398	57,467,559
Service charges on deposit accounts
NONINTEREST INCOME
Other income	$ 7,975	$ 7,165	$ 23,147	$ 21,274
Fiduciary and wealth management fees
NONINTEREST INCOME
Other income	7,394	7,221	22,653	22,187
Card payment fees
NONINTEREST INCOME
Other income	4,716	4,776	14,425	15,674
Derivative hedge fees
NONINTEREST INCOME
Other income	516	700	2,336	3,062
Other customer fees
NONINTEREST INCOME
Other income	$ 384	$ 501	$ 1,643	$ 1,573

INVESTMENT SECURITIES - Amortized Cost and Approximate Fair Value of Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available for sale securities
Amortized Cost	$ 1,882,934	$ 2,273,347
Gross Unrealized Gains	0	439
Gross Unrealized Losses	382,798	297,125
Fair Value	1,500,136	1,976,661
Held to maturity securities
Amortized Cost	2,213,833	2,287,372
Allowance for Credit Losses	245	245
Net Carrying Amount	2,213,588	2,287,127
Gross Unrealized Gains	14	647
Gross Unrealized Losses	472,622	380,154
Fair Value	1,741,225	1,907,865
U.S. Treasury
Available for sale securities
Amortized Cost	1,737	2,501
Gross Unrealized Gains	0	0
Gross Unrealized Losses	24	42
Fair Value	1,713	2,459
U.S. Government-sponsored agency securities
Available for sale securities
Amortized Cost	114,414	119,154
Gross Unrealized Gains	0	0
Gross Unrealized Losses	20,829	17,192
Fair Value	93,585	101,962
Held to maturity securities
Amortized Cost	378,706	392,246
Allowance for Credit Losses	0	0
Net Carrying Amount	378,706	392,246
Gross Unrealized Gains	0	0
Gross Unrealized Losses	78,882	69,147
Fair Value	299,824	323,099
State and municipal
Available for sale securities
Amortized Cost	1,217,293	1,530,048
Gross Unrealized Gains	0	438
Gross Unrealized Losses	244,237	178,726
Fair Value	973,056	1,351,760
Held to maturity securities
Amortized Cost	1,107,325	1,117,552
Allowance for Credit Losses	245	245
Net Carrying Amount	1,107,080	1,117,307
Gross Unrealized Gains	14	647
Gross Unrealized Losses	258,536	197,064
Fair Value	848,803	921,135
U.S. Government-sponsored mortgage-backed securities
Available for sale securities
Amortized Cost	536,530	608,630
Gross Unrealized Gains	0	1
Gross Unrealized Losses	116,567	100,358
Fair Value	419,963	508,273
Held to maturity securities
Amortized Cost	726,302	776,074
Allowance for Credit Losses	0	0
Net Carrying Amount	726,302	776,074
Gross Unrealized Gains	0	0
Gross Unrealized Losses	135,163	113,915
Fair Value	591,139	662,159
Corporate obligations
Available for sale securities
Amortized Cost	12,960	13,014
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,141	807
Fair Value	11,819	12,207
Foreign investment
Held to maturity securities
Amortized Cost	1,500	1,500
Allowance for Credit Losses	0	0
Net Carrying Amount	1,500	1,500
Gross Unrealized Gains	0	0
Gross Unrealized Losses	41	28
Fair Value	$ 1,459	$ 1,472

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($)		9 Months Ended
	Jul. 01, 2023	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate		0.20%
Aggregate intrinsic value of stock options exercised		$ 1,400,000	$ 470,000
Cash receipts of stock options exercised		$ 1,110,000	$ 336,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option term		10 years
Stock options vesting percentage		100.00%
Unrecognized compensation expense related to stock options		$ 0
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested period		1 year
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested period		2 years
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested period		3 years
Unrecognized compensation expense related to RSAs		$ 10,400,000
Unrecognized compensation expense expected recognition period		2 years
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of average closing price to be paid by employees		85.00%
Maximum common stock purchases through advance payroll deductions in a calendar year		$ 25,000
Grant date fair value	$ 35,000
Unrecognized compensation expense related to stock options		$ 0

OTHER INTANGIBLES

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

OTHER INTANGIBLES

Core deposit intangibles and other intangibles are recorded on the acquisition date of an entity. The Corporation has one year after the acquisition date, the measurement period, to record subsequent adjustments to these intangibles for provisional amounts recorded at the acquisition date. The Level One acquisition on April 1, 2022 resulted in a core deposit intangible of $17.2 million and other intangibles, consisting of non-compete intangibles, of $1.4 million. Details regarding the Level One acquisition are discussed in NOTE 2. ACQUISITIONS of these Notes to Consolidated Condensed Financial Statements. The carrying basis and accumulated amortization of recognized core deposit intangibles and other intangibles are noted below.


	September 30, 2023		December 31, 2022
Gross carrying amount	$	123,285	$	104,643

Other intangibles acquired	—		18,642

Accumulated amortization	(94,004)		(87,443)

Total core deposit and other intangibles	$	29,281	$	35,842

The core deposit intangibles and other intangibles are being amortized primarily on an accelerated basis over their estimated useful lives, generally over a period of two years to ten years. Intangible amortization expenses for each of the three and nine months ended September 30, 2023 were $2.2 million and $6.6 million, respectively. This was compared to the three and nine months ended September 30, 2022 which were $2.3 million and $6.0 million, respectively. Estimated future amortization expense is summarized as follows:


	Amortization Expense
2023	$	2,183
2024	7,271
2025	6,028
2026	4,910
2027	3,603
After 2027	5,286
	$	29,281

SHARE-BASED COMPENSATION - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Number of Shares
Beginning balance (in shares) \| shares	155,100
Exercised (in shares) \| shares	(65,025)
Ending balance (in shares) \| shares	90,075
Vested and expected to vest, number of shares (in shares) \| shares	90,075
Exercisable, number of shares (in shares) \| shares	90,075
Weighted-Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 18.89
Exercised (in dollars per share) \| $ / shares	17.07
Ending balance (in dollars per share) \| $ / shares	20.21
Vested and expected to vest, weighted-average exercise price (in dollars per share) \| $ / shares	20.21
Exercisable, weighted-average exercise price (in dollars per share) \| $ / shares	$ 20.21
Weighted Average Remaining Contractual Term (in Years)
Outstanding	2 years 2 months 4 days
Vested and expected to vest	2 years 2 months 4 days
Exercisable	2 years 2 months 4 days
Aggregate Intrinsic Value
Outstanding \| $	$ 685,817
Vested and expected to vest \| $	685,817
Exercisable \| $	$ 685,817

SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Components of Share Based Compensation Awards

The following table summarizes the components of the Corporation's share-based compensation awards recorded as an expense and the income tax benefit of such awards.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Stock and ESPP Options
Pre-tax compensation expense	$	35	$	15	$	80	$	64
Income tax expense (benefit)	—		—		(62)		(74)
Stock and ESPP option expense, net of income taxes	$	35	$	15	$	18	$	(10)
Restricted Stock Awards
Pre-tax compensation expense	$	1,325	$	1,171	$	3,712	$	3,366
Income tax expense (benefit)	(393)		(332)		(906)		(792)
Restricted stock awards expense, net of income taxes	$	932	$	839	$	2,806	$	2,574
Total Share-Based Compensation
Pre-tax compensation expense	$	1,360	$	1,186	$	3,792	$	3,430
Income tax expense (benefit)	(393)		(332)		(968)		(866)
Total share-based compensation expense, net of income taxes	$	967	$	854	$	2,824	$	2,564

Summary of Stock Option Activity Under Stock Option Plans

Stock option activity under the Corporation's stock option plans as of September 30, 2023 and changes during the nine months ended September 30, 2023, were as follows:


	Number of Shares	Weighted-Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2023	155,100	$	18.89


Exercised	(65,025)	$	17.07

Outstanding September 30, 2023	90,075	$	20.21	2.18	$	685,817
Vested and Expected to Vest at September 30, 2023	90,075	$	20.21	2.18	$	685,817
Exercisable at September 30, 2023	90,075	$	20.21	2.18	$	685,817

Summary of Unvested RSAs Outstanding

The following table summarizes information on unvested RSAs outstanding as of September 30, 2023:


	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested RSAs at January 1, 2023	416,705	$	36.97
Granted	164,034	$	31.67
Vested	(129,092)	$	26.87
Forfeited	(1,700)	$	35.65
Unvested RSAs at September 30, 2023	449,947	$	37.94

OTHER INTANGIBLES - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Amortization Expense
2023	$ 2,183
2024	7,271
2025	6,028
2026	4,910
2027	3,603
After 2027	5,286
Total core deposit and other intangibles	$ 29,281	$ 35,842

DERIVATIVE FINANCIAL INSTRUMENTS - Amount of Loss Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	$ (66)	$ 94	$ (179)		$ 507
Derivatives Designated as Hedging Instruments \| Derivatives in Cash Flow Hedging Relationships \| Interest Rate Products
Derivative [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	$ (66)	$ 94	$ (179)	$ 507

LOANS AND ALLOWANCE - Non-Accrual Loans by Loan Class (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 53,102	$ 42,324
Nonaccrual Loans with no Allowance for Credit Losses	14,627	4,247
Commercial and industrial loans
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	14,737	3,292
Nonaccrual Loans with no Allowance for Credit Losses	1,020	481
Agricultural land, production and other loans to farmers
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	61	54
Nonaccrual Loans with no Allowance for Credit Losses	0	0
Construction
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	724	12
Nonaccrual Loans with no Allowance for Credit Losses	0	0
Commercial real estate, non-owner occupied
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	11,575	19,374
Nonaccrual Loans with no Allowance for Credit Losses	11,293	280
Commercial real estate, owner occupied
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	3,125	3,550
Nonaccrual Loans with no Allowance for Credit Losses	2,314	2,784
Residential
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	20,244	13,685
Nonaccrual Loans with no Allowance for Credit Losses	0	702
Home equity
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	2,534	2,247
Nonaccrual Loans with no Allowance for Credit Losses	0	0
Individuals' loans for household and other personal expenditures
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	102	110
Nonaccrual Loans with no Allowance for Credit Losses	$ 0	$ 0

NET INCOME PER COMMON SHARE - Reconciliation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net Income Available to Common Stockholders
Net income available to common stockholders	$ 55,898	$ 63,283	$ 179,901	$ 150,391
Diluted net income per common share	$ 55,898	$ 63,283	$ 179,901	$ 150,391
Weighted-Average Common Shares
Net income available to common stockholders (in shares)	59,335,877	59,096,688	59,272,401	57,200,843
Effect of potentially dilutive stock options and restricted stock awards (in shares)	166,648	242,041	192,997	266,716
Diluted net income per common share (in shares)	59,502,525	59,338,729	59,465,398	57,467,559
Per Share Amount
Net income available to common stockholders (in dollars per share)	$ 0.95	$ 1.08	$ 3.04	$ 2.63
Diluted net income per common share (in dollars per share)	$ 0.94	$ 1.08	$ 3.03	$ 2.62