Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2020

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 September 30, 2020 and December 31, 2019:

			Fair Value Measurements Using
September 30, 2020	Fair Value		Level 1		Level 2		Level 3
Financial assets
Securities available-for-sale
U.S. Treasury Notes	$	25,951	$	25,951	$	—	$	—
U.S. Government agencies		104,710		—		104,710		—
Obligations of states, municipalities, and political    subdivisions		108,312		—		108,312		—
Mortgage-backed securities; residential
Agency		824,037		—		824,037		—
Non-Agency		64,096		—		64,096		—
Mortgage-backed securities; commercial
Agency		263,732		—		263,732		—
Non-Agency		11,643		—		11,643		—
Corporate securities		57,208		—		57,208		—
Asset-backed securities		49,522		—		49,522		—
Equity and other securities, at fair value
Mutual funds		2,992		2,992		—		—
Equity securities		5,343		—		4,659		684
Servicing assets		21,267		—		—		21,267
Derivative assets		19,133		—		19,133		—
Financial liabilities
Derivative liabilities		20,327		—		20,327		—

			Fair Value Measurements Using
December 31, 2019	Fair Value		Level 1		Level 2		Level 3
Financial assets
Securities available-for-sale
U.S. Treasury Notes	$	41,830	$	41,830	$	—	$	—
U.S. Government agencies		164,950		—		164,950		—
Obligations of states, municipalities, and political    subdivisions		94,832		—		94,832		—
Mortgage-backed securities; residential
Agency		490,236		—		490,236		—
Non-Agency		109,822		—		109,822		—
Mortgage-backed securities; commercial
Agency		159,701		—		159,701		—
Non-Agency		31,274		—		31,274		—
Corporate securities		49,330		—		49,330		—
Asset-backed securities		44,317		—		44,317		—
Equity and other securities, at fair value
Mutual funds		2,952		2,952		—		—
Equity securities		5,079		—		4,379		700
Servicing assets		19,471		—		—		19,471
Derivative assets		7,960		—		7,960		—
Financial liabilities
Derivative liabilities		8,519		—		8,519		—

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):

	Nine Months Ended September 30,
	2020			2019		2020			2019
	Investment Securities					Servicing Assets
Balance, beginning of period	$	700		$	886	$	19,471		$	19,693
Additions, net		—			—		4,449			4,340
Amortization		—			4		—			—
Change in fair value		(16	)		1		(2,653	)		(4,094	)
Balance, end of period	$	684		$	891	$	21,267		$	19,939

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 September 30, 2020:

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	4.4% - 6.4%		5.3	%	Decrease
Servicing assets	Discounted cash flow	Prepayment speeds	3.2% - 31.0%		16.0	%	Decrease
		Discount rate	0.1% - 43.3%		8.9	%	Decrease
		Expected weighted average loan life	0.1 - 8.6 years	3.7 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 September 30, 2020 and December 31, 2019:

			Fair Value Measurements Using
September 30, 2020	Fair Value		Level 1		Level 2		Level 3
Non-recurring
Impaired loans (excluding acquired impaired loans)
Commercial real estate	$	34,485	$	—	$	—	$	34,485
Residential real estate		1,559		—		—		1,559
Commercial and industrial		27,064		—		—		27,064
Assets held for sale		15,232		—		—		15,232
Other real estate owned		8,150		—		—		8,150

			Fair Value Measurements Using
December 31, 2019	Fair Value		Level 1		Level 2		Level 3
Non-recurring
Impaired loans (excluding acquired impaired loans)
Commercial real estate	$	23,782	$	—	$	—	$	23,782
Residential real estate		2,274		—		—		2,274
Construction, land development, and other land		2,644		—		—		2,644
Commercial and industrial		29,351		—		—		29,351
Assets held for sale		15,362		—		—		15,362
Other real estate owned		9,896		—		—		9,896

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:

			September 30,				December 31,
	Fair Value		2020				2019
	Hierarchy Level		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets
Cash and due from banks		1	$	47,433	$	47,433	$	48,228	$	48,228
Interest bearing deposits with other banks		2		53,645		53,645		32,509		32,509
Securities held-to-maturity		2		4,400		4,589		4,412		4,498
Other restricted stock		2		9,652		9,652		22,127		22,127
Loans held for sale		3		49,049		54,801		11,732		12,935
Loans and lease receivables, net (less impaired loans    at fair value		3		4,250,151		4,237,748		3,695,674		3,661,724
Accrued interest receivable		3		18,311		18,311		13,283		13,283
Financial liabilities
Non-interest-bearing deposits		2		1,718,682		1,718,682		1,279,641		1,279,641
Interest-bearing deposits		2		3,091,563		3,093,703		2,867,936		2,873,380
Accrued interest payable		2		2,460		2,460		3,677		3,677
Paycheck Protection Program Liquidity Facility		2		449,610		449,610		—		—
Federal Home Loan Bank advances		2		215,000		215,000		490,000		490,000
Securities sold under repurchase agreement		2		45,950		45,950		49,638		49,638
Subordinated notes		2		73,299		77,441		—		—
Junior subordinated debentures		3		36,331		40,414		37,334		42,881