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Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis
The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):
Fair value at June 30, 2020TotalLevel 1Level 2Level 3
Marketable equity securities$3,033  $3,033  $—  $—  
Debt securities available for sale:
Obligations of U.S. government corporations and agencies434,814  —  434,814  —  
Obligations of states and political subdivisions109,646  —  109,646  —  
Corporate bonds2,570  —  2,570  —  
Asset backed securities449,250  —  449,250  —  
Loans held for sale8,352  —  8,352  —  
Mortgage servicing rights4,250  —  —  4,250  
Total assets measured at fair value$1,011,915  $3,033  $1,004,632  $4,250  

Fair value at December 31, 2019TotalLevel 1Level 2Level 3
Marketable equity securities$2,960  $2,960  $—  $—  
Debt securities available for sale:
Obligations of U.S. government corporations and agencies472,980  —  472,980  —  
Obligations of states and political subdivisions109,601  —  109,601  —  
Corporate bonds2,532  —  2,532  —  
Asset backed securities365,025  —  365,025  —  
Loans held for sale5,265  —  5,265  —  
Mortgage servicing rights6,200  —  —  6,200  
Total assets measured at fair value$964,563  $2,960  $955,403  $6,200  
Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis
The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands):
Three months ended June 30,Beginning
Balance		Transfers
into (out of)
Level 3		Change
Included
in Earnings		IssuancesEnding
Balance
2020: Mortgage servicing rights$5,168  —  $(1,236) $318  $4,250  
2019: Mortgage servicing rights$6,572  —  $(552) $209  $6,229  

Six months ended June 30,Beginning
Balance		Transfers
into (out of)
Level 3		Change
Included
in Earnings		IssuancesEnding
Balance
2020: Mortgage servicing rights$6,200  —  $(2,494) $544  $4,250  
2019: Mortgage servicing rights$7,098  —  $(1,197) $328  $6,229  
Quantitative Information about Recurring Level 3 Fair Value Measurements
The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2020 and December 31, 2019:
As of June 30, 2020:Fair Value
(in thousands)		Valuation
Technique		Unobservable
Inputs		Range,
Weighted
Average
Mortgage Servicing Rights$4,250  Discounted cash flowConstant prepayment rate
9% - 28%; 25%
Discount rate
10% - 14%; 12%
As of December 31, 2019:
Mortgage Servicing Rights$6,200  Discounted cash flowConstant prepayment rate
6% - 42.0%; 11.0%
Discount rate
10% - 14%; 12%
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis
The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated (in thousands):
June 30, 2020TotalLevel 1Level 2Level 3Total Losses
Fair value:
Individually evaluated loans$162  —  —  $162  $(16) 

December 31, 2019TotalLevel 1Level 2Level 3Total Losses
Fair value:
Individually evaluated loans$1,055  —  —  $1,055  $(652) 
Foreclosed assets417  —  —  417  (27) 
Total assets measured at fair value$1,472  —  —  $1,472  $(679) 

June 30, 2019TotalLevel 1Level 2Level 3Total Losses
Fair value:
Individually evaluated loans$1,164  —  —  $1,164  $(808) 
Foreclosed assets454  —  —  454  (63) 
Total assets measured at fair value$1,618  —  —  $1,618  $(871) 
Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2020:
June 30, 2020Fair Value
(in thousands)		Valuation
Technique		Unobservable InputsRange,
Weighted Average
Individually evaluated loans$162  Sales comparison
approach
Income approach		Adjustment for differences between
comparable sales
Capitalization rate		Not meaningful
N/A
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2019:
December 31, 2019Fair Value
(in thousands)		Valuation
Technique		Unobservable InputsRange,
Weighted Average
Individually evaluated loans$1,055  Sales comparison
approach
Income approach		Adjustment for differences between
comparable sales
Capitalization rate
Not meaningfulN/A
Foreclosed assets (Residential real estate)$417  Sales comparison
approach		Adjustment for differences between
comparable sales
Not meaningfulN/A
Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets
June 30, 2020December 31, 2019
(in thousands)Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Financial assets:
Level 1 inputs:
Cash and due from banks$78,666  $78,666  $92,816  $92,816  
Cash at Federal Reserve and other banks627,186  627,186  183,691  183,691  
Level 2 inputs:
Securities held to maturity337,165  354,179  375,606  381,525  
Restricted equity securities17,250   N/A 17,250  N/A
Level 3 inputs:
Loans, net4,721,666  4,716,869  4,276,750  4,263,064  
Financial liabilities:
Level 2 inputs:
Deposits6,248,258  6,250,757  5,366,994  5,365,921  
Other borrowings38,544  38,544  18,454  18,454  
Level 3 inputs:
Junior subordinated debt57,422  56,388  57,232  56,297  

(in thousands)Contract
Amount		Fair
Value		Contract
Amount		Fair
Value
Off-balance sheet:
Level 3 inputs:
Commitments$1,366,576  $13,666  $1,309,326  $13,093  
Standby letters of credit11,034  110  12,014  120  
Overdraft privilege commitments110,468  1,105  110,402  1,104