Fair Value Measurements (Tables)

9 Months Ended

Sep. 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)
September 30, 2021
Recurring fair value measurements
Financial Assets
Obligations of states and political subdivisions	$	275,084	$	—	$	275,084	$	—
Mortgage-backed securities:
U.S. Government agencies	1,054,423		—		1,054,423		—
Private label	9,565		—		5,766		3,799
Trust preferred securities	4,449		—		4,449		—
Corporate securities	28,556		—		28,556		—
Marketable equity securities	9,159		4,089		5,070		—
Certificates of deposit held for investment	996		—		996		—
Derivative assets	33,076		—		33,076		—
Financial Liabilities
Derivative liabilities	29,985		—		29,985		—
Nonrecurring fair value measurements
Financial Assets
Loans individually evaluated	$	788	$	—	$	—	$	788	$	(478)
Non-Financial Assets
Other real estate owned	1,335		—		—		1,335		(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	$	4,101	$	—	$	—	$	4,101	$	(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
September 30, 2021
Assets:
Cash and cash equivalents	$	639,549	$	639,549	$	639,549	$	—	$	—
Securities available-for-sale	1,372,077		1,372,077		—		1,368,278		3,799
Marketable equity securities	9,159		9,159		4,089		5,070		—
Net loans	3,503,174		3,422,601		—		—		3,422,601
Accrued interest receivable	16,224		16,224		16,224		—		—
Derivative assets	33,076		33,076		—		33,076		—
Liabilities:
Deposits	4,887,476		4,890,521		3,783,407		1,107,114		—
Short-term debt	296,642		296,642		—		296,642		—
Accrued interest payable	815		815		815		—		—
Derivative liabilities	29,985		29,985		—		29,985		—
December 31, 2020
Assets:
Cash and cash equivalents	$	528,659	$	528,659	$	528,659	$	—	$	—
Securities available-for-sale	1,176,797		1,176,797		—		1,167,962		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		—