Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Measurements

Schedule of financial assets and financial liabilities measured at fair value on a recurring basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
March 31, 2020	Inputs		Inputs		Inputs		Fair Value
Debt securities available for sale
U.S. Treasury securities	$	—	$	45,394	$	—	$	45,394
Obligations of U.S. government corporations and agencies		—		90,574		—		90,574
Obligations of states and political subdivisions		—		284,747		—		284,747
Commercial mortgage-backed securities		—		245,421		—		245,421
Residential mortgage-backed securities		—		1,000,857		—		1,000,857
Corporate debt securities		—		98,952		—		98,952
Equity securities		—		4,936		—		4,936
Loans held for sale		—		89,943		—		89,943
Derivative assets		—		40,978		—		40,978
Derivative liabilities		—		46,600		—		46,600

	Level 1		Level 2		Level 3		Total
December 31, 2019	Inputs		Inputs		Inputs		Fair Value
Debt securities available for sale
U.S. Treasury securities	$	—	$	51,737	$	—	$	51,737
Obligations of U.S. government corporations and agencies		—		163,000		—		163,000
Obligations of states and political subdivisions		—		268,291		—		268,291
Commercial mortgage-backed securities		—		139,287		—		139,287
Residential mortgage-backed securities		—		921,966		—		921,966
Corporate debt securities		—		103,976		—		103,976
Equity securities		—		5,952		—		5,952
Loans held for sale		—		68,699		—		68,699
Derivative assets		—		13,400		—		13,400
Derivative liabilities		—		14,821		—		14,821

Schedule of assets and liabilities measured at fair value on a non-recurring basis

The following table summarizes assets and liabilities measured at fair value on a non-recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
March 31, 2020
Loans evaluated individually	$	—	$	—	$	1,413	$	1,413
OREO		—		—		55		55
Bank property held for sale		—		—		3,413		3,413

December 31, 2019
Loans evaluated individually	$	—	$	—	$	2,686	$	2,686
OREO		—		—		55		55
Bank property held for sale		—		—		4,004		4,004

Schedule of quantitative information about Level 3 fair value measurements

The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized level 3 inputs to determine fair value (dollars in thousands):

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable	Range
	Estimate		Techniques	Input	(Weighted Average)
March 31, 2020
Loans evaluated individually	$	1,413	Appraisal of collateral	Appraisal adjustments	-0.3% to -100% (-69.6)%
OREO		55	Appraisal of collateral	Appraisal adjustments	-25.0% to -100% (-65.0)%
Bank property held for sale		3,413	Appraisal of collateral or real estate listing price	Appraisal adjustments	-6.2% to -64.9% (-27.3)%
December 31, 2019
Loans evaluated individually	$	2,686	Appraisal of collateral	Appraisal adjustments	-2.9% to -100% (-57.8)%
OREO		55	Appraisal of collateral	Appraisal adjustments	-25.0% to -100% (-65.0)%
Bank property held for sale		4,004	Appraisal of collateral or real estate listing price	Appraisal adjustments	-6.2% to -71.3% (-40.7)%

Schedule of estimated fair values of financial instruments

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable	Range
	Estimate		Techniques	Input	(Weighted Average)
March 31, 2020
Loans evaluated individually	$	1,413	Appraisal of collateral	Appraisal adjustments	-0.3% to -100% (-69.6)%
OREO		55	Appraisal of collateral	Appraisal adjustments	-25.0% to -100% (-65.0)%
Bank property held for sale		3,413	Appraisal of collateral or real estate listing price	Appraisal adjustments	-6.2% to -64.9% (-27.3)%
December 31, 2019
Loans evaluated individually	$	2,686	Appraisal of collateral	Appraisal adjustments	-2.9% to -100% (-57.8)%
OREO		55	Appraisal of collateral	Appraisal adjustments	-25.0% to -100% (-65.0)%
Bank property held for sale		4,004	Appraisal of collateral or real estate listing price	Appraisal adjustments	-6.2% to -71.3% (-40.7)%