Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Assets and liabilities measured at fair value on a recurring and nonrecurring basis were as follows as of the dates indicated:

			Fair Value Measurements at Reporting Date Using
	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	June 30, 2021
	(Dollars in thousands)
Recurring fair value measurements
Assets
Trading securities	$	3,439	$	3,439	$	—	$	—
Equity securities	22,975		22,975		—		—
Securities available for sale
U.S. government agency securities	194,042		—		194,042		—
U.S. treasury securities	132,351		—		132,351		—
Agency mortgage-backed securities	314,096		—		314,096		—
Agency collateralized mortgage obligations	95,837		—		95,837		—
State, county, and municipal securities	555		—		555		—
Single issuer trust preferred securities issued by banks and insurers	490		—		490		—
Pooled trust preferred securities issued by banks and insurers	1,061		—		1,061		—
Small business administration pooled securities	56,084		—		56,084		—
Loans held for sale	25,561		—		25,561		—
Derivative instruments	127,044		—		127,044		—
Liabilities
Derivative instruments	88,887		—		88,887		—
Total recurring fair value measurements	$	884,648	$	26,414	$	858,234	$	—
Nonrecurring fair value measurements
Assets
Individually assessed collateral dependent loans (1)	$	30,276	$	—	$	—	$	30,276
Total nonrecurring fair value measurements	$	30,276	$	—	$	—	$	30,276

			Fair Value Measurements at Reporting Date Using
	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	December 31, 2020
	(Dollars in thousands)
Recurring fair value measurements
Assets
Trading securities	$	2,838	$	2,838	$	—	$	—
Equity securities	22,107		22,107		—		—
Securities available for sale
U.S. government agency securities	24,116		—		24,116		—
Agency mortgage-backed securities	233,629		—		233,629		—
Agency collateralized mortgage obligations	91,683		—		91,683		—
State, county, and municipal securities	807		—		807		—
Single issuer trust preferred securities issued by banks and insurers	488		—		488		—
Pooled trust preferred securities issued by banks and insurers	1,056		—		1,056		—
Small business administration pooled securities	61,081		—		61,081		—
Loans held for sale	58,104		—		58,104		—
Derivative instruments	187,399		—		187,399		—
Liabilities
Derivative instruments	134,064		—		134,064		—
Total recurring fair value measurements	$	549,244	$	24,945	$	524,299	$	—
Nonrecurring fair value measurements:
Assets
Individually assessed collateral dependent loans (1)	$	31,510	$	—	$	—	$	31,510
Total nonrecurring fair value measurements	$	31,510	$	—	$	—	$	31,510

(1) The fair value of individually assessed collateral dependent loans is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. Appraisals may be adjusted by management for qualitative factors such as economic factors and estimated liquidation expenses. The range of these possible adjustments may vary.

The estimated fair values and related carrying amounts for 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:

					Fair Value Measurements at Reporting Date Using
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	June 30, 2021
	(Dollars in thousands)
Financial assets
Securities held to maturity (a)
U.S. government agency securities	$	33,853	$	33,730	$	—	$	33,730	$	—
U.S. treasury securities	$	3,010	$	3,038	$	—	$	3,038	$	—
Agency mortgage-backed securities	381,030		392,042		—		392,042		—
Agency collateralized mortgage obligations	418,112		421,841		—		421,841		—
Single issuer trust preferred securities issued by banks	1,500		1,508		—		1,508		—
Small business administration pooled securities	24,316		25,642		—		25,642		—
Loans, net of allowance for credit losses (b)	8,806,355		8,782,780		—		—		8,782,780
Federal Home Loan Bank stock (c)	9,079		9,079		—		9,079		—
Cash surrender value of life insurance policies (d)	242,963		242,963		—		242,963		—
Financial liabilities
Deposit liabilities, other than time deposits (e)	$	11,169,652	$	11,169,652	$	—	$	11,169,652	$	—
Time certificates of deposits (f)	817,319		819,067		—		819,067		—
Federal Home Loan Bank borrowings (f)	35,693		35,723		—		35,723		—
Long-term borrowings (f)	23,425		23,095		—		23,095		—
Junior subordinated debentures (g)	62,852		68,545		—		68,545		—
Subordinated debentures (f)	49,743		47,146		—		—		47,146

					Fair Value Measurements at Reporting Date Using
	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	December 31, 2020
	(Dollars in thousands)
Financial assets
Securities held to maturity (a)
U.S. treasury securities	$	4,017	$	4,077	$	—	$	4,077	$	—
Agency mortgage-backed securities	356,085		374,121		—		374,121		—
Agency collateralized mortgage obligations	335,993		344,119		—		344,119		—
Single issuer trust preferred securities issued by banks	1,500		1,498		—		1,498		—
Small business administration pooled securities	26,917		28,362		—		28,362		—
Loans, net of allowance for credit losses (b)	9,247,964		9,253,381		—		—		9,253,381
Federal Home Loan Bank stock (c)	10,250		10,250		—		10,250		—
Cash surrender value of life insurance policies (d)	200,525		200,525		—		200,525		—
Financial liabilities
Deposit liabilities, other than time deposits (e)	$	10,042,541	$	10,042,541	$	—	$	10,042,541	$	—
Time certificates of deposits (f)	950,629		955,598		—		955,598		—
Federal Home Loan Bank borrowings (f)	35,740		35,885		—		35,885		—
Long-term borrowings (f)	32,773		32,033		—		32,033		—
Junior subordinated debentures (g)	62,851		70,238		—		70,238		—
Subordinated debentures (f)	49,696		46,486		—		—		46,486

(a)The fair values presented are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments and/or discounted cash flow analysis.

(b)Fair value of loans is measured using the exit price valuation method, determined primarily by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities or cash flows, while incorporating liquidity and credit assumptions. Additionally, this amount excludes individually assessed collateral dependent loans, which are deemed to be marked to fair value on a nonrecurring basis.

(c)Federal Home Loan Bank stock has no quoted market value and is carried at cost; therefore the carrying amount approximates fair value.

(d)Cash surrender value of life insurance policies is recorded at its cash surrender value (or the amount that can be realized upon surrender of the policy), therefore, carrying amount approximates fair value.

(e)Fair value of demand deposits, savings and interest checking accounts and money market deposits is the amount payable on demand at the reporting date.

(f)Fair value was determined by discounting anticipated future cash payments using rates currently available for instruments with similar remaining maturities.

(g)Fair value was determined based upon market prices of securities with similar terms and maturities.