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Fair Value (Tables)
3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized below:
 Fair Value Measurements at March 31, 2021 Using
 Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant
Unobservable
 Inputs (Level 3)
Total
Assets:
Obligations of State and Political Subdivisions$— $623,848 $— $623,848 
MBS/CMO— 653,449 — 653,449 
US Gov't Sponsored Entities & Agencies— 108,576 — 108,576 
Total Securities$— $1,385,873 $— $1,385,873 
Loans Held-for-Sale$— $18,493 $— $18,493 
Derivative Assets$— $5,772 $— $5,772 
Derivative Liabilities$— $5,970 $— $5,970 

 Fair Value Measurements at December 31, 2020 Using
 Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant
Unobservable  Inputs (Level 3)
Total
Assets:
Obligations of State and Political Subdivisions$— $580,750 $497 $581,247 
MBS/CMO — 548,307 — 548,307 
US Gov't Sponsored Entities & Agencies— 88,298 — 88,298 
Total Securities$— $1,217,355 $497 $1,217,852 
Loans Held-for-Sale$— $16,904 $— $16,904 
Derivative Assets$— $8,806 $— $8,806 
Derivative Liabilities$— $9,353 $— $9,353 
Schedule of Aggregate Fair Value, Contractual Balance and Gain (Loss) of Loans Held-for-Sale
As of March 31, 2021 and December 31, 2020, the aggregate fair value, contractual balance (including accrued interest), and gain or loss on Loans Held-for-Sale was as follows:
March 31, 2021December 31, 2020
Aggregate Fair Value$18,493 $16,904 
Contractual Balance18,014 16,378 
Gain (Loss)479 526 
Schedule of Reconciliation of all Assets Measured at Fair Value on Recurring Basis, Using Significant Unobservable Inputs (Level 3)
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2021 and 2020:
 Obligations of State and Political Subdivisions
 20212020
Balance of Recurring Level 3 Assets at January 1$497 $4,021 
Total Losses Included in Other Comprehensive Income(2)(16)
Maturities / Calls(495)(523)
Purchases— — 
Balance of Recurring Level 3 Assets at March 31$— $3,482 
Schedule of Assets and Liabilities Measured at Fair Value on Non-Recurring Basis
Assets and liabilities measured at fair value on a non-recurring basis are summarized below:
 Fair Value Measurements at March 31, 2021 Using
 Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable 
Inputs (Level 3)
Total
Assets:    
Individually Analyzed Loans    
Commercial and Industrial Loans$— $— $4,662 $4,662 
Commercial Real Estate Loans$— $— $7,548 $7,548 
Agricultural Loans$— $— $548 $548 
Consumer Loans$— $— $— $— 
Home Equity Loans$— $— $369 $369 
Residential Mortgage Loans$— $— $507 $507 

Fair Value Measurements at December 31, 2020 Using
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable 
Inputs (Level 3)
Total
Assets:
Individually Analyzed Loans
Commercial and Industrial Loans$— $— $4,985 $4,985 
Commercial Real Estate Loans$— $— $8,893 $8,893 
Agricultural Loans$— $— $551 $551 
Consumer Loans$— $— $— $— 
Home Equity Loans$— $— $369 $369 
Residential Mortgage Loans$— $— $75 $75 
Schedule of Fair Value Assets and Liabilities Measured on Nonrecurring Basis Valuation Techniques
The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at March 31, 2021 and December 31, 2020:
March 31, 2021Fair ValueValuation Technique(s)Unobservable Input(s)Range (Weighted Average)
Individual Analyzed Loans -
    Commercial and Industrial Loans
$4,662 Sales comparison approachAdjustment for physical condition of comparable properties sold
26%-100%
(60%)
Individual Analyzed Loans -
    Commercial Real Estate Loans
$7,548 Sales comparison approachAdjustment for physical condition of comparable properties sold
22%-100%
(40%)
Individual Analyzed Loans -
    Agricultural Loans
$548 Sales comparison approachAdjustment for physical condition of comparable properties sold
30%-96%
(64%)
Individual Analyzed Loans -
    Consumer Loans
$— Sales comparison approachAdjustment for physical condition of comparable properties sold
 100%
(100%)
Individual Analyzed Loans -
    Home Equity Loans
$369 Sales comparison approachAdjustment for physical condition of comparable properties sold
23%-23%
(23%)
Individual Analyzed Loans -
    Residential Mortgage Loans
$507 Sales comparison approachAdjustment for physical condition of comparable properties sold
7%-51%
(31%)

December 31, 2020Fair ValueValuation Technique(s)Unobservable Input(s)Range (Weighted Average)
Individual Analyzed Loans -
    Commercial and Industrial Loans
$4,985 Sales comparison approachAdjustment for physical condition of comparable properties sold
26%-100%
(61%)
Individual Analyzed Loans -
    Commercial Real Estate Loans
$8,893 Sales comparison approachAdjustment for physical condition of comparable properties sold
30%-100%
(56%)
Individual Analyzed Loans -
    Agricultural Loans
$551 Sales comparison approachAdjustment for physical condition of comparable properties sold
30%-96% (65%)
Individual Analyzed Loans -
    Consumer Loans
$— Sales comparison approachAdjustment for physical condition of comparable properties sold
 100%
(100%)
Individual Analyzed Loans -
    Home Equity Loans
$369 Sales comparison approachAdjustment for physical condition of comparable properties sold
9%-9%
(9%)
Individual Analyzed Loans -
    Residential Mortgage Loans
$75 Sales comparison approachAdjustment for physical condition of comparable properties sold
43%-97%
(67%)
Schedule of Carrying Amounts and Estimated Fair Values of Company's Financial Instruments
The carrying amounts and estimated fair values of the Company’s financial instruments not previously presented are provided in the tables below for the periods ending March 31, 2021 and December 31, 2020. Not all of the Company’s assets and liabilities are considered financial instruments, and therefore are not included in the tables. Because no active market exists for a significant portion of the Company’s financial instruments, fair value estimates were based on subjective judgments, and therefore cannot be determined with precision.
  Fair Value Measurements at
March 31, 2021 Using
 Carrying ValueLevel 1Level 2Level 3Total
Financial Assets:     
Cash and Short-term Investments$393,244 $102,758 $290,486 $— $393,244 
Interest Bearing Time Deposits with Banks1,241 — 1,241 — 1,241 
Loans, Net3,058,470 — — 3,067,070 3,067,070 
Accrued Interest Receivable20,285 — 7,144 13,141 20,285 
Financial Liabilities:     
Demand, Savings, and Money Market Deposits(3,931,903)(3,931,903)— — (3,931,903)
Time Deposits(446,770)— (446,842)— (446,842)
Short-term Borrowings(39,863)— (39,863)— (39,863)
Long-term Debt(133,684)— (79,865)(51,180)(131,045)
Accrued Interest Payable(1,286)— (1,253)(33)(1,286)

  Fair Value Measurements at
December 31, 2020 Using
 Carrying ValueLevel 1Level 2Level 3Total
Financial Assets:     
Cash and Short-term Investments$345,748 $57,972 $287,776 $— $345,748 
Interest Bearing Time Deposits with Banks1,241 — 1,241 — 1,241 
Loans, Net3,026,340 — — 3,032,690 3,032,690 
Accrued Interest Receivable20,278 — 6,137 14,141 20,278 
Financial Liabilities:     
Demand, Savings, and Money Market Deposits(3,612,078)(3,612,078)— — (3,612,078)
Time Deposits(494,452)— (495,171)— (495,171)
Short-term Borrowings(52,905)— (52,905)— (52,905)
Long-term Debt(141,624)— (88,342)(54,960)(143,302)
Accrued Interest Payable(1,084)— (1,049)(35)(1,084)