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Disclosures About Fair Value of Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2021
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, 2021, and December 31, 2020.
  Fair Value Measurements Using:
September 30, 2021Fair 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$1,000 $— $1,000 $— 
U.S. Government-sponsored agency securities11,557 — 11,557 — 
State and municipal1,534,555 — 1,528,990 5,565 
U.S. Government-sponsored mortgage-backed securities823,137 — 823,133 
Corporate obligations4,329 — 4,298 31 
Interest rate swap asset47,630 — 47,630 — 
Interest rate swap liability48,847 — 48,847 — 

  Fair Value Measurements Using:
December 31, 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. Government-sponsored agency securities$2,430 $— $2,430 $— 
State and municipal1,257,885 — 1,255,441 2,444 
U.S. Government-sponsored mortgage-backed securities654,669 — 654,665 
Corporate obligations4,135 — 4,104 31 
Interest rate swap asset74,335 — 74,335 — 
Interest rate swap liability76,353 — 76,353 — 
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, 2021 and 2020.
 Available for Sale Securities
Three Months EndedNine Months Ended
 September 30, 2021September 30, 2020September 30, 2021September 30, 2020
Balance at beginning of the period$5,795 $2,500 $2,479 $2,892 
Included in other comprehensive income(21)75 333 25 
Purchases, issuances and settlements— — 3,241 — 
Principal payments(174)(88)(453)(430)
Ending balance $5,600 $2,487 $5,600 $2,487 
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, 2021, and December 31, 2020.
  Fair Value Measurements Using
September 30, 2021Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant Unobservable
Inputs
(Level 3)
Collateral dependent loans$31,408 $— $— $31,408 
Other real estate owned96 — — 96 
  Fair Value Measurements Using
December 31, 2020Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
 Inputs
(Level 2)
Significant Unobservable
Inputs
(Level 3)
Collateral dependent loans$37,250 $— $— $37,250 
Other real estate owned544 — — 544 
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, 2021 and December 31, 2020.
September 30, 2021Fair ValueValuation TechniqueUnobservable InputsRange (Weighted-Average)
State and municipal securities$5,565 Discounted cash flowMaturity/Call date
1 month to 15 years
   US Muni BQ curve
A- to BBB--
   Discount rate
.75% - 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
—%
Collateral dependent loans$31,408 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability
0% - 10%
  Weighted-average discount by loan balance%
Other real estate owned$96 AppraisalsDiscount to reflect current market conditions
0% - 72%
Weighted-average discount of other real estate owned balance
44%
December 31, 2020Fair ValueValuation TechniqueUnobservable InputsRange (Weighted-Average)
State and municipal securities$2,444 Discounted cash flowMaturity/Call date
1 month to 15 years
   US Muni BQ curve
A- to BBB-
   Discount rate
1.50% - 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)$37,250 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability
0% - 10%
Weighted-average discount by loan balance
6%
   
Other real estate owned$544 AppraisalsDiscount to reflect current market conditions
0% - 30%
Weighted-average discount of other real estate owned balance
26%
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, 2021, and December 31, 2020.
September 30, 2021
 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$169,261 $169,261 $— $— 
Interest-bearing deposits369,447 369,447 — — 
Investment securities available for sale2,374,578 — 2,368,978 5,600 
Investment securities held to maturity2,070,938 — 2,071,246 15,309 
Loans held for sale5,990 — 5,990 — 
Loans, net8,841,604 — — 8,900,412 
Federal Home Loan Bank stock28,736 — 28,736 — 
Interest rate swap asset47,630 — 47,630 — 
Interest receivable53,079 — 53,079 — 
Liabilities:    
Deposits$12,348,689 $11,618,882 $727,961 $— 
Borrowings:  
Securities sold under repurchase agreements183,589 — 183,584 — 
Federal Home Loan Bank advances334,149 — 339,704 — 
Subordinated debentures and other borrowings118,558 — 107,595 — 
Interest rate swap liability48,847 — 48,847 — 
Interest payable3,736 — 3,736 — 

December 31, 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$192,896 $192,896 $— $— 
Interest-bearing deposits392,305 392,305 — — 
Investment securities available for sale1,919,119 — 1,916,640 2,479 
Investment securities held to maturity1,227,668 — 1,260,815 19,478 
Loans held for sale3,966 — 3,966 — 
Loans, net9,112,526 — — 9,191,628 
Federal Home Loan Bank stock28,736 — 28,736 — 
Interest rate swap asset74,335 — 74,335 — 
Interest receivable53,948 — 53,948 — 
Liabilities:    
Deposits$11,361,610 $10,482,865 $878,257 $— 
Borrowings:    
Securities sold under repurchase agreements177,102 — 177,097 — 
Federal Home Loan Bank advances389,430 — 399,991 — 
Subordinated debentures and other borrowings118,380 — 108,439 — 
Interest rate swap liability76,353 — 76,353 — 
Interest payable3,287 — 3,287 —