Disclosures about Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis

The following table presents the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following:

	September 30, 2021
	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 and federal agencies	$	118,588	$	—	$	118,588	$	—
State and municipal	1,119,123		—		1,119,123		—
Federal agency collateralized mortgage obligations	75,525		—		75,525		—
Federal agency mortgage–backed pools	237,705		—		237,705		—
Private labeled mortgage–backed pools	32,937		—		32,937
Corporate notes	85,756		—		85,756		—
Total available for sale securities	1,669,634		—		1,669,634		—
Interest rate swap agreements asset	19,391		—		19,391		—
Forward sale commitments	666		—		666		—
Interest rate swap agreements liability	(24,044)		—		(24,044)		—
Commitments to originate loans	(333)		—		(333)		—

	December 31, 2020
	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 and federal agencies	$	19,715	$	—	$	19,715	$	—
State and municipal	837,843		—		837,843		—
Federal agency collateralized mortgage obligations	147,453		—		147,453		—
Federal agency mortgage–backed pools	118,799		—		118,799		—
Corporate notes	10,215		—		10,215		—
Total available for sale securities	1,134,025		—		1,134,025		—
Interest rate swap agreements asset	35,388		—		35,388		—
Forward sale commitments	1,045		—		1,045		—
Interest rate swap agreements liability	(43,631)		—		(43,631)		—

Realized Gains and Losses Included in Net Income for Periods in Consolidated Statements of Income

Realized gains and losses included in net income for the periods are reported in the condensed consolidated statements of income as follows:

	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Non-interest Income
Total gains and losses from:
Hedged loans	$	3,302	$	(3,162)	$	15,997	$	(29,492)
Fair value interest rate swap agreements	(3,302)		3,162		(15,997)		29,492
Derivative loan commitments	(167)		(679)		(712)		364
	$	(167)	$	(679)	$	(712)	$	364

Other Assets Measured at Fair Value on Nonrecurring Basis

Certain other assets are measured at fair value on a non-recurring basis in the ordinary course of business and are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment):

	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2021
Collateral dependent loans	$	18,848	$	—	$	—	$	18,848
Mortgage servicing rights	14,863		—		—		14,863
December 31, 2020
Collateral dependent loans	$	13,123	$	—	$	—	$	13,123
Mortgage servicing rights	12,472		—		—		12,472

Qualitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements, Other than Goodwill

The following table presents qualitative information about unobservable inputs used in recurring and non–recurring Level 3 fair value measurements, other than goodwill.

	September 30, 2021
	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Collateral dependent loans	$	18,848	Collateral based measurement	Discount to reflect current market conditions and ultimate collectibility	0.0%-65.0% (6.9%)
Mortgage servicing rights	14,863		Discounted cash flows	Discount rate, Constant prepayment rate, Probability of default	8.0%-8.0% (8.0%), 9.5%-16.7% (12.7%), 0.0%-18.5%(0.4%)

	December 31, 2020
	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Collateral dependent loans	$	13,123	Collateral based measurement	Discount to reflect current market conditions and ultimate collectibility	0.0%-72.0%(12.4%)
Mortgage servicing rights	12,472		Discounted cash flows	Discount rate, Constant prepayment rate, Probability of default	7.8%-7.8% (7.8%), 11.5%-20.9%(17.5%), 0.0%-1.0%(0.8%)