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Disclosures About Fair Value of Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements of assets and liabilities recognized in Consolidated Condensed Balance Sheets measured at fair value
The following table presents the fair value measurements of assets and liabilities recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the ASC 820 fair value hierarchy in which the fair value measurements fall at September 30, 2020, and December 31, 2019.
  Fair Value Measurements Using:
September 30, 2020Fair ValueQuoted 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$300 $— $300 $— 
U.S. Government-sponsored agency securities2,444 — 2,444 — 
State and municipal1,146,946 — 1,144,494 2,452 
U.S. Government-sponsored mortgage-backed securities670,395 — 670,391 
Corporate obligations4,075 — 4,044 31 
Interest rate swap asset82,010 — 82,010 — 
Interest rate swap liability84,254 — 84,254 — 
  Fair Value Measurements Using:
December 31, 2019Fair ValueQuoted 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. Government-sponsored agency securities$38,875 $— $38,875 $— 
State and municipal899,796 — 896,938 2,858 
U.S. Government-sponsored mortgage-backed securities851,323 — 851,319 
Corporate obligations31 — — 31 
Interest rate swap asset27,855 — 27,855 — 
Interest rate swap liability29,299 — 29,299 — 
Schedule of reconciliation of beginning and ending balances of recurring fair value measurements recognized in Consolidated Condensed Balance Sheets using significant unobservable Level 3 inputs
The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying
balance sheets using significant unobservable Level 3 inputs for the three and nine months ended September 30, 2020 and 2019.
 Available for Sale Securities
Three Months EndedNine Months Ended
 September 30, 2020September 30, 2019September 30, 2020September 30, 2019
Balance at beginning of the period$2,500 $2,975 $2,892 $3,328 
Included in other comprehensive income75 25 85 
Principal payments(88)(85)(430)(517)
Ending balance $2,487 $2,896 $2,487 $2,896 
Schedule of description of valuation methodologies used for instruments measured at fair value on a non-recurring basis and recognized in Consolidated Condensed Balance Sheets
Following is a description of valuation methodologies used for instruments measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy for September 30, 2020, and December 31, 2019.
  Fair Value Measurements Using
September 30, 2020Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant Unobservable
Inputs
(Level 3)
Impaired loans (collateral dependent)$34,418 $— $— $34,418 
Other real estate owned464 — — 464 
  Fair Value Measurements Using
December 31, 2019Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
 Inputs
(Level 2)
Significant Unobservable
Inputs
(Level 3)
Impaired loans (collateral dependent)$5,653 $— $— $5,653 
Other real estate owned194 — — 194 
Schedule of unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill
The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at September 30, 2020 and December 31, 2019.
September 30, 2020Fair ValueValuation TechniqueUnobservable InputsRange (Weighted-Average)
State and municipal securities$2,452 Discounted cash flowMaturity/Call date
1 month to 15 years
   US Muni BQ curve
A- to BBB-
   Discount rate
1.5% - 4%
Weighted-average coupon%
Corporate obligations and U.S. Government-sponsored mortgage-backed securities$35 Discounted cash flowRisk free rate
3 month LIBOR
   plus premium for illiquidity
plus 200bps
Weighted-average coupon— %
Impaired loans (collateral dependent)$34,418 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability
 0% - 10%
  Weighted-average discount by loan balance
7%
Other real estate owned$464 AppraisalsDiscount to reflect current market conditions
0% - 72%
Weighted-average discount of other real estate owned balance32 %
December 31, 2019Fair ValueValuation TechniqueUnobservable InputsRange (Weighted-Average)
State and municipal securities$2,858 Discounted cash flowMaturity/Call date
1 month to 15 years
   US Muni BQ curve
A- to BBB-
   Discount rate
2% - 5%
Weighted-average coupon%
Corporate obligations and U.S Government-sponsored mortgage-backed securities$35 Discounted cash flowRisk free rate
3 month LIBOR
   plus premium for illiquidity
plus 200bps
Weighted-average coupon— %
Impaired loans (collateral dependent)$5,653 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability
0% - 10%
Weighted-average discount by loan balance%
   
Other real estate owned$194 AppraisalsDiscount to reflect current market conditions
0% - 37%
Weighted-average discount of other real estate owned balance37 %
Schedule of estimated fair values of financial instruments
The following table presents estimated fair values of the Corporation’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2020, and December 31, 2019.
September 30, 2020
 Quoted Prices in Active Markets
for Identical
Assets
Significant
Other
Observable
Inputs
Significant Unobservable
Inputs
 Carrying Amount(Level 1)(Level 2)(Level 3)
Assets:    
Cash and cash equivalents$164,632 $164,632 $— $— 
Interest-bearing deposits273,936 273,936 — — 
Investment securities available for sale1,824,160 — 1,821,673 2,487 
Investment securities held to maturity1,109,126 — 1,131,014 21,504 
Loans held for sale3,183 — 3,183 — 
Loans9,117,107 — — 9,198,466 
Federal Home Loan Bank stock28,736 — 28,736 — 
Interest rate swap asset82,010 — 82,010 — 
Interest receivable52,992 — 52,992 — 
Liabilities:    
Deposits$10,906,153 $9,797,840 $1,108,656 $— 
Borrowings:  
Federal funds purchased80,000 — 80,000 — 
Securities sold under repurchase agreements187,732 — 187,732 — 
Federal Home Loan Bank advances399,522 — 413,532 — 
Subordinated debentures and other borrowings118,320 — 108,427 — 
Interest rate swap liability84,254 — 84,254 — 
Interest payable5,038 — 5,038 — 
December 31, 2019
 Quoted Prices in Active Markets
for Identical
Assets
Significant
Other
Observable
Inputs
Significant Unobservable
Inputs
 Carrying Amount(Level 1)(Level 2)(Level 3)
Assets:    
Cash and cash equivalents$177,201 $177,201 $— $— 
Interest-bearing deposits118,263 118,263 — — 
Investment securities available for sale1,790,025 — 1,787,132 2,893 
Investment securities held to maturity806,038 — 799,884 27,682 
Loans held for sale9,037 — 9,037 — 
Loans8,379,026 — — 8,335,340 
Federal Home Loan Bank stock28,736 — 28,736 — 
Interest rate swap asset27,855 — 27,855 — 
Interest receivable48,901 — 48,901 — 
Liabilities:    
Deposits$9,839,956 $8,146,745 $1,675,202 $— 
Borrowings:    
Federal funds purchased55,000 — 55,000 — 
Securities sold under repurchase agreements187,946 — 187,801 — 
Federal Home Loan Bank advances351,072 — 352,581 — 
Subordinated debentures and other borrowings138,685 — 123,571 — 
Interest rate swap liability29,299 — 29,299 — 
Interest payable6,754 — 6,754 —