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FAIR VALUE MEASUREMENT AND DISCLOSURE (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, for the dates indicated:
(In thousands)Fair
Value
Readily
Available
Market
Prices
(Level 1)
Observable
Market
Data
(Level 2)
Company
Determined
Fair Value
(Level 3)
June 30, 2023   
Financial assets:   
Trading securities$4,235 $4,235 $— $— 
AFS debt securities:  
Obligations of states and political subdivisions48,623 — 48,623 — 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises486,780 — 486,780 — 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises100,701 — 100,701 — 
Corporate bonds22,101 — 22,101 — 
Loans held for sale12,036 — 12,036 — 
Customer loan swaps15,329 — 15,329 — 
Interest rate contracts18,433 — 18,433 — 
Fixed rate mortgage interest rate lock commitments110 — 110 — 
Forward delivery commitments143 — 143 — 
Financial liabilities:  
Deferred compensation$4,235 $4,235 $— $— 
Customer loan swaps15,366 — 15,366 — 
Interest rate contracts4,398 — 4,398 — 
Fixed rate mortgage interest rate lock commitments162 — 162 — 
Forward delivery commitments— — 
December 31, 2022   
Financial assets:   
Trading securities$3,990 $3,990 $— $— 
AFS debt securities:
Obligations of states and political subdivisions49,226 — 49,226 — 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises514,019 — 514,019 — 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises109,347 — 109,347 — 
Corporate bonds23,283 — 23,283 — 
Loans held for sale5,197 — 5,197 — 
Customer loan swaps14,802 — 14,802 — 
Interest rate contracts13,051 — 13,051 — 
Fixed rate mortgage interest rate lock commitments31 — 31 — 
Forward delivery commitments114 — 114 — 
Financial liabilities:  
Deferred compensation$3,990 $3,990 $— $— 
Customer loan swaps14,850 — 14,850 — 
Interest rate contracts5,515 — 5,515 — 
Fixed rate mortgage interest rate lock commitments87 — 87 — 
Valuation Methodology and Unobservable Inputs for Level Three Assets Measured at Fair Value on Non Recurring Basis
Carrying Amounts and Estimated Fair Value for Financial Instrument Assets and Liabilities
The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below as of the dates indicated:
Carrying
Amount
Fair ValueReadily
Available
Market
Prices
(Level 1)
Observable
Market
Prices
(Level 2)
Company
Determined
Market
Prices
(Level 3)
June 30, 2023
Financial assets:     
HTM debt securities$534,584 $495,590 $— $495,590 $— 
Commercial real estate loans(1)(2)
1,658,496 1,564,814 — — 1,564,814 
Commercial loans(2)
417,642 403,100 — — 403,100 
Residential real estate loans(2)
1,737,676 1,512,478 — — 1,512,478 
Home equity loans(2)
230,221 228,473 — — 228,473 
Consumer loans(2)
19,113 16,873 — — 16,873 
Servicing assets2,363 4,283 — — 4,283 
Financial liabilities:     
Time deposits$449,265 $439,762 $— $439,762 $— 
Short-term borrowings448,182 447,761 — 447,761 — 
Subordinated debentures44,331 31,032 — 31,032 — 
December 31, 2022
Financial assets:
HTM debt securities$546,583 $506,193 $— $506,193 $— 
Commercial real estate loans(1)(2)
1,605,279 1,550,379 — — 1,550,379 
Commercial loans(2)
424,685 414,353 — — 414,353 
Residential real estate loans(2)
1,691,177 1,494,707 — — 1,494,707 
Home equity loans(2)
232,203 237,967 — — 237,967 
Consumer loans(2)
20,087 17,853 — — 17,853 
Servicing assets2,458 4,412 — — 4,412 
Financial liabilities:
Time deposits$300,451 $291,568 $— $291,568 $— 
Short-term borrowings265,176 264,779 — 264,779 — 
Subordinated debentures44,331 31,032 — 31,032 — 
(1)    Commercial real estate loan includes non-owner-occupied and owner-occupied properties.
(2)    The presented carrying amount is net of the allocated ACL on loans.