Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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)
June 30, 2021
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	281,344	$	—	$	281,344	$	—
Mortgage-backed securities:
U.S. Government agencies	1,009,907		—		1,009,907		—
Private label	10,057		—		5,833		4,224
Trust preferred securities	4,283		—		4,283		—
Corporate securities	33,845		—		29,841		4,004
Marketable equity securities	9,134		4,019		5,115		—
Certificates of deposit held for investment	1,245		—		1,245		—
Derivative assets	37,138		—		37,138		—
Financial Liabilities
Derivative liabilities	34,297		—		34,297		—
Nonrecurring fair value measurements
Financial Assets
Loans individually evaluated	$	8,214	$	—	$	—	$	8,214	$	(478)
Non-Financial Assets
Other real estate owned	1,309		—		—		1,309		(2)
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
Loans individually evaluated	$	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
June 30, 2021
Assets:
Cash and cash equivalents	$	609,890	$	609,890	$	609,890	$	—	$	—
Securities available-for-sale	1,340,681		1,340,681		—		1,332,453		8,228
Marketable equity securities	9,134		9,134		4,019		5,115		—
Net loans	3,509,400		3,447,763		—		—		3,447,763
Accrued interest receivable	15,967		15,967		15,967		—		—
Derivative assets	37,138		37,138		—		37,138		—
Liabilities:
Deposits	4,804,546		4,809,759		3,651,155		1,158,604		—
Short-term debt	311,316		311,316		—		311,316		—
Accrued interest payable	815		815		815		—		—
Derivative liabilities	34,297		34,297		—		34,297		—
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		—