Disclosures about fair value of assets and liabilities (Tables)

6 Months Ended

Jun. 30, 2019

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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:

	June 30, 2019
	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	$	9,901		$	—	$	9,901		$	—
State and municipal		260,165			—		260,165			—
Federal agency collateralized mortgage obligations		231,522			—		231,522			—
Federal agency mortgage-backed pools		153,523			—		153,523			—
Corporate notes		18,308			—		18,308			—
Total available for sale securities		673,419			—		673,419			—
Hedged loans		258,180			—		258,180			—
Forward sale commitments		467			—		467			—
Interest rate swap agreements		(16,389	)		—		(16,389	)		—
Commitments to originate loans		—			—		—			—
	December 31, 2018
	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	$	16,608		$	—	$	16,608		$	—
State and municipal		209,303			—		209,303			—
Federal agency collateralized mortgage obligations		185,003			—		185,003			—
Federal agency mortgage-backed pools		178,736			—		178,736			—
Corporate notes		10,698			—		10,698			—
Total available for sale securities		600,348			—		600,348			—
Hedged loans		209,161			—		209,161			—
Forward sale commitments		135			—		135			—
Interest rate swap agreements		(1,801	)		—		(1,801	)		—
Commitments to originate loans		—			—		—			—

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:

Non-interest Income	Three Months Ended						Six Months Ended
Total gains and losses from:	June 30, 2019			June 30, 2018			June 30, 2019			June 30, 2018
Hedged loans	$	(7,529	)	$	976		$	(11,580	)	$	3,744
Fair value interest rate swap agreements		7,529			(976	)		11,580			(3,744	)
Derivative loan commitments		75			71			332			183
	$	75		$	71		$	332		$	183

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)
June 30, 2019
Impaired loans	$	7,847	$	—	$	—	$	7,847
Mortgage servicing rights		13,652		—		—		13,652
December 31, 2018
Impaired loans	$	5,661	$	—	$	—	$	5,661
Mortgage servicing rights		12,349		—		—		12,349

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.

	June 30, 2019
	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Impaired loans	$	7,847	Collateral based measurement	Discount to reflect current market conditions and ultimate collectability		0%-100% (9.1%)
Mortgage servicing rights		13,652	Discounted cash flows	Discount rate, Constant prepayment rate, Probability of default		9.7%-10.0% (9.8%), 9.6%-19.3% (11.0%), 0.0%-1.7% (0.7%)
	December 31, 2018
	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Impaired loans	$	5,661	Collateral based measurement	Discount to reflect current market conditions and ultimate collectability		0%-100% (15.5%)
Mortgage servicing rights		12,349	Discounted cash flows	Discount rate, Constant prepayment rate, Probability of default		10.2%-11.0% (10.3%), 9.1%-21.9% (9.3%), 0.1%-2.8% (0.6%)