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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Estimated Fair Values Estimated fair values as of the periods indicated are as follows:
 September 30, 2021December 31, 2020
(In Thousands)Carrying AmountFair ValueCarrying AmountFair  Value
Financial assets:  
Level 1 inputs:  
     Cash, due from banks and deposits in other banks$492,279 $492,279 $115,965 $115,965 
     Investment securities available for sale121,787 121,787 58,865 58,865 
     Marketable equity securities8,551 8,551 9,052 9,052 
Level 2 inputs:  
     Investment securities available for sale256,485 256,485 188,768 188,768 
     Investment in Federal Home Loan Bank stock3,110 3,110 2,551 2,551 
     Loans held for sale106,224 106,224 146,178 146,178 
     Accrued interest receivable7,546 7,546 7,979 7,979 
     Interest rate swaps6,132 6,132 7,387 7,387 
Level 3 inputs:  
     Investment securities held to maturity20,000 19,264 10,000 10,000 
     Loans 1,450,657 1,419,567 1,444,051 1,414,179 
     Purchased receivables, net20,118 20,118 13,922 13,922 
     Interest rate lock commitments3,248 3,248 4,034 4,034 
     Mortgage servicing rights13,08013,08011,218 11,218 
     Commercial servicing rights1,2781,2781,310 1,310 
Financial liabilities:  
Level 2 inputs:  
     Deposits$2,296,541 $2,297,426 $1,824,981 $1,826,990 
     Borrowings14,605 14,809 14,817 15,538 
     Accrued interest payable129 129 65 65 
     Interest rate swaps7,032 7,032 9,122 9,122 
     Retail interest rate contracts— — 880 880 
Level 3 inputs:
     Junior subordinated debentures10,310 9,833 10,310 10,475 
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table sets forth the balances as of the periods indicated of assets and liabilities measured at fair value on a recurring basis:
(In Thousands)TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
September 30, 2021    
Assets:
    Available for sale securities    
    U.S. Treasury and government sponsored entities$299,824 $102,014 $197,810 $— 
    Municipal securities850 — 850 — 
    Corporate bonds35,411 19,773 15,638 — 
    Collateralized loan obligations43,037 — 43,037 — 
           Total available for sale securities$379,122 $121,787 $257,335 $— 
    Marketable equity securities$8,551 $8,551 $— $— 
           Total marketable equity securities$8,551 $8,551 $— $— 
Interest rate swaps6,132 — 6,132 — 
Interest rate lock commitments3,248 — — 3,248 
Mortgage servicing rights13,080 — — 13,080 
Commercial servicing rights1,278 — — 1,278 
Retail interest rate contracts126 — 126 — 
           Total other assets$23,864 $— $6,258 $17,606 
Liabilities:
Interest rate swaps$7,032 $— $7,032 $— 
           Total other liabilities$7,032 $— $7,032 $— 
December 31, 2020    
Assets:
Available for sale securities    
U.S. Treasury and government sponsored entities$174,601 $37,548 $137,053 $— 
Municipal securities856 — 856 — 
Corporate bonds30,492 21,317 9,175 — 
Collateralized loan obligations41,684 — 41,684 — 
           Total available for sale securities$247,633 $58,865 $188,768 $— 
Marketable equity securities$9,052 $9,052 $— $— 
           Total marketable securities$9,052 $9,052 $— $— 
Interest rate swaps7,387 — 7,387 — 
Interest rate lock commitments4,034 — — 4,034 
Mortgage servicing rights11,218 — — 11,218 
Commercial servicing rights1,310 — — 1,310 
           Total other assets$23,949 $— $7,387 $16,562 
Liabilities:
Interest rate swaps$9,122 $— $9,122 $— 
Retail interest rate contracts880 — 880 — 
           Total other liabilities$10,002 $— $10,002 $— 
Fair Value, Assets Measured on Recurring Basis using Significant Unobservable Inputs
The following tables provide a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three and nine-month periods ended September 30, 2021 and 2020:
(In Thousands)Beginning balanceChange included in earningsPurchases and issuancesSales and settlementsEnding balanceNet change in unrealized gains (losses) relating to items held at end of period
Three Months Ended September 30, 2021 
Interest rate lock commitments$3,044 ($867)$7,428 ($6,357)$3,248 $3,248 
Mortgage servicing rights12,835 (1,458)1,703 — 13,080 — 
Commercial servicing rights1,292 (58)44 — 1,278 — 
Total$17,171 ($2,383)$9,175 ($6,357)$17,606 $3,248 
Three Months Ended September 30, 2020
Interest rate lock commitments$4,653 ($1,784)$15,329 ($11,679)$6,519 $6,519 
Mortgage servicing rights10,721 (1,505)1,373 — 10,589 — 
Commercial servicing rights1,162 (101)225 — 1,286 — 
Total$16,536 ($3,390)$16,927 ($11,679)$18,394 $6,519 
(In Thousands)Beginning balanceChange included in earningsPurchases and issuancesSales and settlementsEnding balanceNet change in unrealized gains (losses) relating to items held at end of period
Nine Months Ended September 30, 2021 
Interest rate lock commitments$4,034 ($2,881)$23,879 ($21,784)$3,248 $3,248 
Mortgage servicing rights11,218 (3,034)4,896 — 13,080 — 
Commercial servicing rights1,310 (134)102 — 1,278 — 
Total$16,562 ($6,049)$28,877 ($21,784)$17,606 $3,248 
Nine Months Ended September 30, 2020
Interest rate lock commitments$810 ($4,923)$40,441 ($29,809)$6,519 $6,519 
Mortgage servicing rights11,920 (4,363)3,032 — 10,589 — 
Commercial servicing rights1,214 (180)252 — 1,286 — 
Total$13,944 ($9,466)$43,725 ($29,809)$18,394 $6,519 
Fair Value, Assets Measured on Nonrecurring Basis As of and for the periods ending September 30, 2021 and December 31, 2020, except for certain assets as shown in the following table, no impairment or valuation adjustment was recognized for assets recognized at fair value on a nonrecurring basis.  For loans measured for impairment, the Company classifies fair value measurements using observable inputs, such as external appraisals, as Level 2 valuations in the fair value hierarchy, and unobservable inputs, such as in-house evaluations, as Level 3 valuations in the fair value hierarchy.    
(In Thousands)TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
September 30, 2021    
  Loans measured for impairment$4,282 $— $— $4,282 
Total$4,282 $— $— $4,282 
December 31, 2020    
  Loans measured for impairment$308 $— $— $308 
Total$308 $— $— $308 

    The following table presents the (gains) losses resulting from nonrecurring fair value adjustments for the three and nine-month periods ended September 30, 2021 and 2020:
Three Months Ended September 30,Nine Months Ended September 30,
(In Thousands)2021202020212020
Loans measured for impairment($122)$10 $650 $24 
Total loss from nonrecurring measurements($122)$10 $650 $24 
Schedule of Valuation Assumptions The following table provides a description of the valuation technique, unobservable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring and nonrecurring basis at September 30, 2021 and December 31, 2020:
Financial InstrumentValuation TechniqueUnobservable InputWeighted Average Rate Range
September 30, 2021
Loans measured for impairmentIn-house valuation of collateralDiscount rate
10% - 100%
Interest rate lock commitmentExternal pricing modelPull through rate92.46 %
Mortgage servicing rightsDiscounted cash flowConstant prepayment rate
9.93% - 14.02%
Discount rate8 %
Commercial servicing rightsDiscounted cash flowConstant prepayment rate
7.38% - 9.94%
Discount rate9.46 %
December 31, 2020
Loans measured for impairmentIn-house valuation of collateralDiscount rate30 %
Interest rate lock commitmentExternal pricing modelPull through rate90.65 %
Mortgage servicing rightsDiscounted cash flowConstant prepayment rate
7.77% - 13.17%
Discount rate
0.00% - 7.75%
Commercial servicing rightsDiscounted cash flowConstant prepayment rate
7.38% - 9.94%
Discount rate9.46 %