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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Estimated Fair Values Estimated fair values as of the periods indicated are as follows:
 March 31, 2021December 31, 2020
(In Thousands)Carrying AmountFair ValueCarrying AmountFair  Value
Financial assets:  
Level 1 inputs:  
     Cash, due from banks and deposits in other banks$203,590 $203,590 $115,965 $115,965 
     Investment securities available for sale93,802 93,802 58,865 58,865 
     Marketable equity securities9,471 9,471 9,052 9,052 
Level 2 inputs:  
     Investment securities available for sale210,008 210,008 188,768 188,768 
     Investment in Federal Home Loan Bank stock3,116 3,116 2,551 2,551 
     Loans held for sale116,128 116,128 146,178 146,178 
     Accrued interest receivable8,243 8,243 7,979 7,979 
     Interest rate swaps5,970 5,970 7,387 7,387 
     Retail interest rate contracts588 588 — — 
Level 3 inputs:  
     Investment securities held to maturity20,000 19,906 10,000 10,000 
     Loans 1,548,924 1,513,712 1,444,051 1,414,179 
     Purchased receivables, net11,818 11,818 13,922 13,922 
     Interest rate lock commitments2,713 2,713 4,034 4,034 
     Mortgage servicing rights11,65711,65711,218 11,218 
     Commercial servicing rights1,3271,3271,310 1,310 
Financial liabilities:  
Level 2 inputs:  
     Deposits$2,051,317 $2,052,781 $1,824,981 $1,826,990 
     Borrowings14,749 15,133 14,817 15,538 
     Accrued interest payable67 67 65 65 
     Interest rate swaps6,445 6,445 9,122 9,122 
     Retail interest rate contracts— — 880 880 
Level 3 inputs:
     Junior subordinated debentures10,310 9,869 10,310 10,475 
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table sets forth the balances as of the periods indicated of assets and liabilities measured at fair value on a recurring basis:
(In Thousands)TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
March 31, 2021    
Assets:
    Available for sale securities    
    U.S. Treasury and government sponsored entities$224,493 $77,184 $147,309 $— 
    Municipal securities856 — 856 — 
    Corporate bonds30,456 16,618 13,838 — 
    Collateralized loan obligations48,005 — 48,005 — 
           Total available for sale securities$303,810 $93,802 $210,008 $— 
    Marketable equity securities$9,471 $9,471 $— $— 
           Total marketable equity securities$9,471 $9,471 $— $— 
    Corporate bonds$19,906 $— $— $19,906 
           Total held to maturity securities$19,906 $— $— $19,906 
Interest rate swaps5,970 — 5,970 — 
Interest rate lock commitments2,713 — — 2,713 
Mortgage servicing rights11,657 — — 11,657 
Commercial servicing rights1,327 — — 1,327 
Retail interest rate contracts588 — 588 — 
           Total other assets$22,255 $— $6,558 $15,697 
Liabilities:
Interest rate swaps$6,445 $— $6,445 $— 
           Total other liabilities$6,445 $— $6,445 $— 
December 31, 2020    
Assets:
Available for sale securities    
U.S. Treasury and government sponsored entities$174,601 $37,548 $137,053 $— 
Municipal securities856 — 856 — 
Corporate bonds30,492 21,317 9,175 — 
Collateralized loan obligations41,684 — 41,684 — 
           Total available for sale securities$247,633 $58,865 $188,768 $— 
Marketable equity securities$9,052 $9,052 $— $— 
           Total marketable securities$9,052 $9,052 $— $— 
Corporate bonds$10,000 $— $— $10,000 
           Total held to maturity securities$10,000 $— $— $10,000 
Interest rate swaps7,387 — 7,387 — 
Interest rate lock commitments4,034 — — 4,034 
Mortgage servicing rights11,218 — — 11,218 
Commercial servicing rights1,310 — — 1,310 
           Total other assets$23,949 $— $7,387 $16,562 
Liabilities:
Interest rate swaps$9,122 $— $9,122 $— 
Retail interest rate contracts880 — 880 — 
           Total other liabilities$10,002 $— $10,002 $— 
Fair Value, Assets Measured on Recurring Basis using Significant Unobservable Inputs
The following tables provide a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three-month periods ended March 31, 2021 and 2020:
(In Thousands)Beginning balanceChange included in earningsPurchases and issuancesSales and settlementsEnding balanceNet change in unrealized gains (losses) relating to items held at end of period
Three Months Ended March 31, 2021 
Held to maturity securities$10,000 $— $10,000 $— $20,000 ($94)
Interest rate lock commitments4,034 (1,147)9,268 (9,442)2,713 2,713 
Mortgage servicing rights11,218 (1,009)1,448 — 11,657 — 
Commercial servicing rights1,310 (23)40 — 1,327 — 
Total$26,562 ($2,179)$20,756 ($9,442)$35,697 $2,619 
Three Months Ended March 31, 2020
Interest rate lock commitments$810 ($897)$7,507 ($4,232)$3,188 $3,188 
Mortgage servicing rights11,920 (930)663 — 11,653 — 
Commercial servicing rights1,214 (21)7 — 1,200 — 
Total$13,944 ($1,848)$8,177 ($4,232)$16,041 $3,188 
Fair Value, Assets Measured on Nonrecurring Basis As of and for the periods ending March 31, 2021 and December 31, 2020, except for certain assets as shown in the following table, no impairment or valuation adjustment was recognized for assets recognized at fair value on a nonrecurring basis.  For loans measured for impairment, the Company classifies fair value measurements using observable inputs, such as external appraisals, as Level 2 valuations in the fair value hierarchy, and unobservable inputs, such as in-house evaluations, as Level 3 valuations in the fair value hierarchy.    
(In Thousands)TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
March 31, 2021    
  Loans measured for impairment$5,995 $— $— $5,995 
Total$5,995 $— $— $5,995 
December 31, 2020    
  Loans measured for impairment$308 $— $— $308 
Total$308 $— $— $308 

    The following table presents the gains resulting from nonrecurring fair value adjustments for the three-month periods ended March 31, 2021 and 2020:
Three Months Ended March 31,
(In Thousands)20202019
Loans measured for impairment$985 $665 
Total loss from nonrecurring measurements$985 $665 
Schedule of Valuation Assumptions The following table provides a description of the valuation technique, unobservable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring and nonrecurring basis at March 31, 2021 and December 31, 2020:
Financial InstrumentValuation TechniqueUnobservable InputWeighted Average Rate Range
March 31, 2021
Loans measured for impairmentIn-house valuation of collateralDiscount rate
10% - 100%
Interest rate lock commitmentExternal pricing modelPull through rate93.28 %
Mortgage servicing rightsDiscounted cash flowConstant prepayment rate
8.13% - 12.87%
Discount rate7.75 %
Commercial servicing rightsDiscounted cash flowConstant prepayment rate
7.38% - 9.94%
Discount rate9.46 %
December 31, 2020
Loans measured for impairmentIn-house valuation of collateralDiscount rate30 %
Interest rate lock commitmentExternal pricing modelPull through rate90.65 %
Mortgage servicing rightsDiscounted cash flowConstant prepayment rate
7.77% - 13.17%
Discount rate
7.75% - 0.00%
Commercial servicing rightsDiscounted cash flowConstant prepayment rate
7.38% - 9.94%
Discount rate9.46 %