Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2022 and December 31, 2021:

			Fair Value Measurements Using
June 30, 2022	Fair Value		Level 1		Level 2		Level 3
Financial assets
Securities available-for-sale
U.S. Treasury Notes	$	31,782	$	31,782	$	—	$	—
U.S. Government agencies		135,519		—		135,519		—
Obligations of states, municipalities, and political    subdivisions		77,453		—		77,453		—
Mortgage-backed securities; residential
Agency		655,462		—		655,462		—
Non-Agency		117,737		—		117,737		—
Mortgage-backed securities; commercial
Agency		173,107		—		173,107		—
Corporate securities		45,961		—		45,961		—
Asset-backed securities		36,117		—		36,117		—
Equity and other securities, at fair value
Mutual funds		2,643		2,643		—		—
Equity securities		5,217		—		4,554		663
Servicing assets		22,155		—		—		22,155
Derivative assets		39,142		—		39,142		—
Financial liabilities
Derivative liabilities		10,154		—		10,154		—

			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):

	Six Months Ended June 30,
	2022			2021		2022			2021
	Investment Securities					Servicing Assets
Balance, beginning of period	$	686		$	685	$	23,744		$	22,042
Additions, net		—			—		4,278			4,139
Change in fair value		(23	)		—		(5,867	)		(1,498	)
Balance, end of period	$	663		$	685	$	22,155		$	24,683

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 June 30, 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	4.0% - 6.4%		5.0	%	Decrease
Servicing assets	Discounted cash flow	Prepayment speeds	0.0% - 32.9%		13.5	%	Decrease
		Discount rate	0.0% - 54.3%		11.5	%	Decrease
		Expected weighted average loan life	0.0 - 9.0 years	3.8 years			Increase

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

Adjustments to fair value based on such non-recurring transactions generally result from the application of lower-of-cost-or-market accounting or write-downs of individual assets due to impairment. 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 June 30, 2022 and December 31, 2021:

			Fair Value Measurements Using
June 30, 2022	Fair Value		Level 1		Level 2		Level 3
Non-recurring
Impaired loans (excluding acquired impaired loans)
Commercial real estate	$	39,198	$	—	$	—	$	39,198
Residential real estate		5,188		—		—		5,188
Commercial and industrial		16,433		—		—		16,433
Assets held for sale		8,949		—		—		8,949
Other real estate owned		4,749		—		—		4,749

			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:

			June 30,				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	$	58,844	$	58,844	$	35,247	$	35,247
Interest bearing deposits with other banks		2		83,057		83,057		122,684		122,684
Securities held-to-maturity		2		3,880		3,876		3,885		3,992
Restricted stock		2		30,002		30,002		22,002		22,002
Loans held for sale		3		17,284		17,815		64,460		69,081
Loans and lease receivables, net (less impaired    loans at fair value)		3		5,039,275		4,984,367		4,430,231		4,428,509
Accrued interest receivable		3		19,323		19,323		18,875		18,875
Financial liabilities
Non-interest-bearing deposits		2		2,180,927		2,180,927		2,158,420		2,158,420
Interest-bearing deposits		2		3,207,450		3,205,937		2,996,627		2,997,026
Accrued interest payable		2		631		631		262		262
Federal Home Loan Bank advances		2		650,000		650,000		490,000		490,000
Federal funds purchased		2		45,000		45,000		—		—
Securities sold under repurchase agreement		2		53,092		53,092		29,723		29,723
Subordinated notes		2		73,604		77,269		73,517		81,744
Junior subordinated debentures		3		37,123		39,763		36,906		40,901