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Fair Value Measurement (Tables)
 9 Months Ended
Sep. 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 September 30, 2020TotalLevel 1Level 2Level 3
Marketable equity securities$3,032 $3,032 $— $— 
Debt securities available for sale:
Obligations of U.S. government corporations and agencies573,888 — 573,888 — 
Obligations of states and political subdivisions112,725 — 112,725 — 
Corporate bonds2,522 — 2,522 — 
Asset backed securities453,792 — 453,792 — 
Loans held for sale6,570 — 6,570 — 
Mortgage servicing rights4,920 — — 4,920 
Total assets measured at fair value$1,157,449 $3,032 $1,149,497 $4,920 

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 September 30,Beginning
Balance		Transfers
into (out of)
Level 3		Change
Included
in Earnings		IssuancesEnding
Balance
2020: Mortgage servicing rights$4,250 — $236 $434 $4,920 
2019: Mortgage servicing rights$6,229 — $(455)$298 $6,072 

Nine months ended September 30, 2020Beginning
Balance		Transfers
into (out of)
Level 3		Change
Included
in Earnings		IssuancesEnding
Balance
2020: Mortgage servicing rights$6,200 — $(2,258)$978 $4,920 
2019: Mortgage servicing rights$7,098 — $(1,652)$626 $6,072 
Quantitative Information about Recurring Level 3 Fair Value Measurements
The following table presents quantitative information about recurring Level 3 fair value measurements at September 30, 2020 and December 31, 2019:
As of September 30, 2020:Fair Value
(in thousands)		Valuation
Technique		Unobservable
Inputs		Range,
Weighted
Average
Mortgage Servicing Rights$4,920 Discounted cash flowConstant prepayment rate
15% - 32%; 19%
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):
September 30, 2020TotalLevel 1Level 2Level 3Total Losses
Fair value:
Individually evaluated loans$1,024 — — $1,024 $(309)

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)

September 30, 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)
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 September 30, 2020:
September 30, 2020Fair Value
(in thousands)		Valuation
Technique		Unobservable InputsRange,
Weighted Average
Individually evaluated loans$1,024 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$346 Sales comparison
approach
Income approach		Adjustment for differences between
comparable sales
Capitalization rate
Not meaningful
N/A
Foreclosed assets (Residential real estate)$445 Sales comparison
approach		Adjustment for differences between
comparable sales
Not meaningful
N/A
Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets
September 30, 2020December 31, 2019
(in thousands)Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Financial assets:
Level 1 inputs:
Cash and due from banks$71,034 $71,034 $92,816 $92,816 
Cash at Federal Reserve and other banks581,548 581,548 183,691 183,691 
Level 2 inputs:
Securities held to maturity310,696 377,442 375,606 381,525 
Restricted equity securities17,250 N/A17,250 N/A
Level 3 inputs:
Loans, net4,738,763 4,841,120 4,276,750 4,263,064 
Financial liabilities:
Level 2 inputs:
Deposits6,340,588 6,346,930 5,366,994 5,365,921 
Other borrowings27,055 27,055 18,454 18,454 
Level 3 inputs:
Junior subordinated debt57,527 55,348 57,232 56,297 

(in thousands)Contract
Amount		Fair
Value		Contract
Amount		Fair
Value
Off-balance sheet:
Level 3 inputs:
Commitments$1,320,988 $13,210 $1,309,326 $13,093 
Standby letters of credit11,255 113 12,014 120 
Overdraft privilege commitments110,271 1,103 110,402 1,104