Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s financial assets and liabilities that were measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021:

			Fair Value Measurements Using
March 31, 2022	Fair Value		Level 1		Level 2		Level 3
Financial assets
Securities available-for-sale
U.S. Treasury Notes	$	24,225	$	24,225	$	—	$	—
U.S. Government agencies		140,240		—		140,240		—
Obligations of states, municipalities, and political    subdivisions		82,128		—		82,128		—
Mortgage-backed securities; residential
Agency		700,857		—		700,857		—
Non-Agency		130,424		—		130,424		—
Mortgage-backed securities; commercial
Agency		189,693		—		189,693		—
Corporate securities		65,142		—		65,142		—
Asset-backed securities		36,659		—		36,659		—
Equity and other securities, at fair value
Mutual funds		4,872		4,872		—		—
Equity securities		5,805		—		5,130		675
Servicing assets		24,497		—		—		24,497
Derivative assets		29,113		—		29,113		—
Financial liabilities
Derivative liabilities		7,475		—		7,475		—

			Fair Value Measurements Using
December 31, 2021	Fair Value		Level 1		Level 2		Level 3
Financial assets
Securities available-for-sale
U.S. Treasury Notes	$	18,476	$	18,476	$	—	$	—
U.S. Government agencies		139,390		—		139,390		—
Obligations of states, municipalities, and political    subdivisions		89,636		—		89,636
Mortgage-backed securities; residential
Agency		743,656		—		743,656		—
Non-Agency		145,236		—		145,236		—
Mortgage-backed securities; commercial
Agency		213,551		—		213,551		—
Corporate securities		67,346		—		67,346		—
Asset-backed securities		37,251		—		37,251		—
Equity and other securities, at fair value
Mutual funds		4,880		4,880		—		—
Equity securities		5,698		—		5,012		686
Servicing assets		23,744		—		—		23,744
Derivative assets		13,375		—		13,375		—
Financial liabilities
Derivative liabilities		9,665		—		9,665		—

Summary of Financial Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs

The following table presents additional information about financial assets measured at fair value on recurring basis for which the Company used significant unobservable inputs (Level 3):

	Three Months Ended March 31,
	2022			2021		2022			2021
	Investment Securities					Servicing Assets
Balance, beginning of period	$	686		$	685	$	23,744		$	22,042
Additions, net		—			—		1,984			1,603
Change in fair value		(11	)		1		(1,231	)		(1,505	)
Balance, end of period	$	675		$	686	$	24,497		$	22,140

Summary of Unobservable Inputs Used in the Fair Value Measurements on Recurring Basis

The following table presents additional information about the unobservable inputs used in the fair value measurements on recurring basis that were categorized within Level 3 of the fair value hierarchy as of March 31, 2022:

Financial Instruments	Valuation Technique	Unobservable Inputs	Range of Inputs	Weighted Average Range			Impact to Valuation from an Increased or Higher Input Value
Single issuer trust preferred	Discounted cash flow	Discount rate	3.2% - 6.4%		4.6	%	Decrease
Servicing assets	Discounted cash flow	Prepayment speeds	0.0% - 32.6%		13.5	%	Decrease
		Discount rate	(0.6)% - 53.1%		8.7	%	Decrease
		Expected weighted average loan life	0.0 - 9.2 years	3.9 years			Increase

Summary of Assets Measured at Fair Value on Non-Recurring Basis, Excluding Acquired Impaired Loans

The following tables summarize the

Company’s assets that were measured at fair value on a non-recurring basis, excluding acquired impaired loans, as of March 31, 2022 and December 31, 2021:

			Fair Value Measurements Using
March 31, 2022	Fair Value		Level 1		Level 2		Level 3
Non-recurring
Impaired loans (excluding acquired impaired loans)
Commercial real estate	$	29,074	$	—	$	—	$	29,074
Residential real estate		2,184		—		—		2,184
Commercial and industrial		19,455		—		—		19,455
Assets held for sale		9,153		—		—		9,153
Other real estate owned		2,221		—		—		2,221

			Fair Value Measurements Using
December 31, 2021	Fair Value		Level 1		Level 2		Level 3
Non-recurring
Impaired loans (excluding acquired impaired loans)
Commercial real estate	$	28,513	$	—	$	—	$	28,513
Residential real estate		1,802		—		—		1,802
Commercial and industrial		21,570		—		—		21,570
Assets held for sale		9,153		—		—		9,153
Other real estate owned		2,112		—		—		2,112

Summary of Estimated Fair Values of Financial Instruments

The estimated fair values of financial instruments not carried at fair value and levels within the fair value hierarchy are as follows:

			March 31,				December 31,
	Fair Value		2022				2021
	Hierarchy Level		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets
Cash and due from banks		1	$	48,015	$	48,015	$	35,247	$	35,247
Interest bearing deposits with other banks		2		105,564		105,564		122,684		122,684
Securities held-to-maturity		2		3,882		3,906		3,885		3,992
Restricted stock		2		13,977		13,977		22,002		22,002
Loans held for sale		3		39,520		39,520		64,460		69,081
Loans and lease receivables, net (less impaired    loans at fair value)		3		4,678,897		4,643,327		4,430,231		4,428,509
Accrued interest receivable		3		18,757		18,757		18,875		18,875
Financial liabilities
Non-interest-bearing deposits		2		2,281,612		2,281,612		2,158,420		2,158,420
Interest-bearing deposits		2		3,248,490		3,248,063		2,996,627		2,997,026
Accrued interest payable		2		1,402		1,402		262		262
Federal Home Loan Bank advances		2		280,000		280,000		490,000		490,000
Securities sold under repurchase agreement		2		31,450		31,450		29,723		29,723
Subordinated notes		2		73,560		79,159		73,517		81,744
Junior subordinated debentures		3		37,011		40,389		36,906		40,901