Disclosures about Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present the fair value measurements of assets and liabilities recognized in the accompanying consolidated Balance Sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2020 and December 31, 2019:

			March 31, 2020
			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
	(Dollars in thousands)
Available-for-sale securities
Mortgage-backed - GSE residential	$	149,821	$	—	$	149,821	$	—
Collateralized mortgage obligations - GSE residential	118,938		—		118,938		—
State and political subdivisions	462,850		—		462,850		—
Corporate bonds	1,415		—		1,415		—
Mutual funds	2,207		—		2,207		—
Derivative assets	28,041		—		28,041		—
Derivative liabilities	$	28,139	$	—	$	28,139	$	—

			December 31, 2019
			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
	(Dollars in thousands)
Available-for-sale securities
Mortgage-backed - GSE residential	$	152,512	$	—	$	152,512	$	—
Collateralized mortgage obligations - GSE residential	129,212		—		129,212		—
State and political subdivisions	456,340		—		456,340		—
Corporate bonds	1,409		—		1,409		—
Mutual funds	2,161		—		2,161		—
Derivative assets	9,838		—		9,838		—
Derivative liabilities	$	9,907	$	—	$	9,907	$	—

Fair Value Measurements, Nonrecurring

The following tables present assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2020 and December 31, 2019:

			March 31, 2020
			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
	(Dollars in thousands)
Collateral-dependent impaired loans	$	24,679	$	—	$	—	$	24,679

			December 31, 2019
			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
	(Dollars in thousands)
Collateral-dependent impaired loans	$	20,889	$	—	$	—	$	20,889

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables present quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements at March 31, 2020 and December 31, 2019:

	March 31, 2020
	Fair Value		Valuation Techniques	Unobservable Inputs	Range (Weighted Average)
	(Dollars in thousands)
Collateral-dependent impaired loans	$	24,679	Market comparable properties	Marketability discount	10% - 15% (12%)

	December 31, 2019
	Fair Value		Valuation Techniques	Unobservable Inputs	Range (Weighted Average)
	(Dollars in thousands)
Collateral-dependent impaired loans	$	20,889	Market comparable properties	Marketability discount	10% - 15% (12%)

Fair Value, by Balance Sheet Grouping

The following tables present the estimated fair values of the Company’s financial instruments at March 31, 2020 and December 31, 2019:

	March 31, 2020
	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets
Cash and cash equivalents	$	158,987	$	158,987	$	—	$	—	$	158,987
Available-for-sale securities	735,231		—		735,231		—		735,231
Loans, net of allowance for loan losses	3,950,993		—		—		3,946,203		3,946,203
Restricted equity securities	18,539		—		—		18,539		18,539
Interest receivable	16,958		—		16,958		—		16,958
Derivative assets	28,041		—		28,041		—		28,041
	$	4,908,749	$	158,987	$	780,230	$	3,964,742	$	4,903,959
Financial Liabilities
Deposits	$	3,972,822	$	567,215	$	—	$	3,428,178	$	3,995,393
Federal funds purchased and repurchase agreements	38,946		—		38,946		—		38,946
Federal Home Loan Bank advances	402,680		—		423,799		—		423,799
Other borrowings	931		—		1,576		—		1,576
Interest payable	3,365		—		3,365		—		3,365
Derivative liabilities	28,139		—		28,139		—		28,139
	$	4,446,883	$	567,215	$	495,825	$	3,428,178	$	4,491,218

	December 31, 2019
	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets
Cash and cash equivalents	$	187,320	$	187,320	$	—	$	—	$	187,320
Available-for-sale securities	741,634		—		741,634		—		741,634
Loans, net of allowance for loan losses	3,795,348		—		—		3,810,818		3,810,818
Restricted equity securities	17,278		—		—		17,278		17,278
Interest receivable	15,716		—		15,716		—		15,716
Derivative assets	9,838		—		9,838		—		9,838
	$	4,767,134	$	187,320	$	767,188	$	3,828,096	$	4,782,604
Financial Liabilities
Deposits	$	3,923,759	$	521,826	$	—	$	3,407,012	$	3,928,838
Federal funds purchased and repurchase agreements	14,921		—		14,921		—		14,921
Federal Home Loan Bank advances	358,743		—		357,859		—		357,859
Other borrowings	921		—		2,147		—		2,147
Interest payable	4,584		—		4,584		—		4,584
Derivative liabilities	9,907		—		9,907		—		9,907
	$	4,312,835	$	521,826	$	389,418	$	3,407,012	$	4,318,256