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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis The tables below summarize financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020, segregated by the level of the valuation inputs within the fair value hierarchy of ASC Topic 820 utilized to measure fair value.
Level 1 InputsLevel 2 InputsLevel 3 InputsTotal Fair Value
June 30, 2021
Securities available for sale:
U.S. Treasury$1,497,722 $— $— $1,497,722 
Residential mortgage-backed securities— 1,761,629 — 1,761,629 
States and political subdivisions— 7,538,819 — 7,538,819 
Other— 42,356 — 42,356 
Trading account securities:
U.S. Treasury24,137 — — 24,137 
Derivative assets:
Interest rate swaps, caps and floors— 58,079 — 58,079 
Commodity swaps and options— 164,716 — 164,716 
Derivative liabilities:
Interest rate swaps, caps and floors— 28,734 — 28,734 
Commodity swaps and options— 163,387 — 163,387 
December 31, 2020
Securities available for sale:
U.S. Treasury$1,119,633 $— $— $1,119,633 
Residential mortgage-backed securities— 1,987,679 — 1,987,679 
States and political subdivisions— 7,287,902 — 7,287,902 
Other— 42,351 — 42,351 
Trading account securities:
U.S. Treasury23,996 — — 23,996 
States and political subdivisions— 460 — 460 
Derivative assets:
Interest rate swaps, caps and floors— 85,665 — 85,665 
Commodity swaps and options— 45,535 456 45,991 
Derivative liabilities:
Interest rate swaps, caps and floors— 35,187 — 35,187 
Commodity swaps and options— 45,099 — 45,099 
Impaired Loans Remeasured And Reported At Fair Value Specific Valuation Allowance Allocation Method Of Underlying Collateral [Table Text Block]
The following table presents collateral dependent loans that were remeasured and reported at fair value through a specific allocation of the allowance for credit losses on loans based upon the fair value of the underlying collateral during the reported periods.
Six Months Ended
June 30, 2021
Six Months Ended
June 30, 2020
Level 2Level 3Level 2Level 3
Carrying value before allocations
$3,399 $19,423 $5,257 $5,006 
Specific (allocations) reversals of prior allocations
(336)(3,273)(731)4,209 
Fair value$3,063 $16,150 $4,526 $9,215 
Foreclosed Assets Remeasured and Reported at Fair Value The following table presents foreclosed assets that were remeasured and reported at fair value during the reported periods:
Six Months Ended
June 30,
20212020
Foreclosed assets remeasured subsequent to initial recognition:
Carrying value of foreclosed assets prior to remeasurement$— $328 
Write-downs included in other non-interest expense— (231)
Fair value$— $97 
Estimated Fair Values of Financial Instruments The estimated fair values of financial instruments that are reported at amortized cost in our consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows:
June 30, 2021December 31, 2020
Carrying
Amount
Estimated
Fair Value
Carrying
Amount
Estimated
Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents$15,184,395 $15,184,395 $10,288,853 $10,288,853 
Securities held to maturity1,813,405 1,896,235 1,945,673 2,052,896 
Cash surrender value of life insurance policies189,818 189,818 189,984 189,984 
Accrued interest receivable176,226 176,226 181,432 181,432 
Level 3 inputs:
Loans, net16,341,038 16,444,306 17,218,132 17,390,683 
Financial liabilities:
Level 2 inputs:
Deposits38,734,140 38,735,017 35,015,761 35,018,185 
Federal funds purchased26,700 26,700 48,850 48,850 
Repurchase agreements2,216,889 2,216,889 2,068,147 2,068,147 
Junior subordinated deferrable interest debentures136,385 137,115 136,357 137,115 
Subordinated notes99,100 114,015 99,021 115,717 
Accrued interest payable3,799 3,799 8,127 8,127