Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring And Nonrecurring Basis

The following table presents assets and liabilities measured at fair value (in thousands):

	Total		Level 1		Level 2		Level 3		Total Gains (Losses)
March 31, 2021
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	279,753	$	—	$	279,753	$	—
Mortgage-backed securities:
U.S. Government agencies	855,554		—		855,554		—
Private label	10,396		—		5,786		4,610
Trust preferred securities	4,275		—		4,275		—
Corporate securities	33,275		—		29,271		4,004
Marketable equity securities	11,757		6,726		5,031		—
Certificates of deposit held for investment	1,992		—		1,992		—
Derivative assets	33,446		—		33,446		—
Financial Liabilities
Derivative liabilities	29,773		—		29,773		—
Nonrecurring fair value measurements
Financial Assets
Loans individually evaluated	$	7,475	$	—	$	—	$	7,475	$	56
Non-Financial Assets
Other real estate owned	1,625		—		—		1,625		(1)
December 31, 2020
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	277,811	$	—	$	277,811	$	—
Mortgage-backed securities:
U.S. Government agencies	850,384		—		850,384		—
Private label	10,892		—		6,061		4,831
Trust preferred securities	4,100		—		4,100		—
Corporate securities	33,610		—		29,606		4,004
Marketable equity securities	11,839		6,800		5,039		—
Certificates of deposit held for investment	1,992		—		1,992		—
Derivative assets	53,166		—		53,166		—
Financial Liabilities
Derivative liabilities	53,288		—		53,288		—
Nonrecurring fair value measurements
Financial Assets
Impaired loans	$	7,634	$	—	$	—	$	7,634	$	(1,118)
Non-Financial Assets
Other real estate owned	1,650		—		—		1,650		(292)

Schedule Of Estimates Of Fair Value Of Financial Instruments

The following table represents the estimates of fair value of financial instruments (in thousands). For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as noninterest-bearing demand, interest-bearing demand and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.

	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
March 31, 2021
Assets:
Cash and cash equivalents	$	756,799	$	756,799	$	756,799	$	—	$	—
Securities available-for-sale	1,185,245		1,185,245		—		1,176,631		8,614
Marketable equity securities	11,757		11,757		6,726		5,031		—
Net loans	3,522,647		3,473,330		—		—		3,473,330
Accrued interest receivable	16,231		16,231		16,231		—		—
Derivative assets	33,446		33,446		—		33,446		—
Liabilities:
Deposits	4,796,835		4,805,356		3,586,962		1,218,394		—
Short-term debt	316,003		316,003		—		316,003		—
Accrued interest payable	1,169		1,169		1,169		—		—
Derivative liabilities	29,773		29,773		—		29,773		—
December 31, 2020
Assets:
Cash and cash equivalents	$	528,659	$	528,659	$	528,659	$	—	$	—
Securities available-for-sale	1,178,789		1,178,789		—		1,169,954		8,835
Marketable equity securities	11,839		11,839		6,800		5,039		—
Net loans	3,597,570		3,578,013		—		—		3,578,013
Accrued interest receivable	15,793		15,793		15,793		—		—
Derivative assets	53,166		53,166		—		53,166		—
Liabilities:
Deposits	4,652,216		4,665,905		3,392,194		1,273,711		—
Short-term debt	295,956		295,956		—		295,956		—
Accrued interest payable	1,586		1,586		1,586		—		—
Derivative liabilities	53,288		53,288		—		53,288		—