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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on a recurring basis
The following tables present assets and liabilities that are measured at fair value on a recurring basis as of the dates presented:
 
Level 1Level 2Level 3Totals
March 31, 2021
Financial assets:
Securities available for sale$— $1,536,041 $— $1,536,041 
Derivative instruments— 49,227 — 49,227 
Mortgage loans held for sale in loans held for sale— 502,002 — 502,002 
Total financial assets$— $2,087,270 $— $2,087,270 
Financial liabilities:
Derivative instruments:$— $18,985 $— $18,985 

Level 1Level 2Level 3Totals
December 31, 2020
Financial assets:
Trust preferred securities$— $— $9,012 $9,012 
Other available for sale securities— 1,334,445 — 1,334,445 
Total securities available for sale— 1,334,445 9,012 1,343,457 
Derivative instruments— 33,574 — 33,574 
Mortgage loans held for sale in loans held for sale— 417,771 — 417,771 
Total financial assets$— $1,785,790 $9,012 $1,794,802 
Financial liabilities:
Derivative instruments$— $21,107 $— $21,107 
Reconciliation for assets and liabilities measured at fair value on a recurring basis
The following tables provide a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs, or Level 3 inputs, as of the dates presented:
 
 20212020
Three Months Ended March 31, 2021Trust preferred
securities		Trust preferred
securities
Three Months Ended March 31,
Balance at beginning of period$9,012 $9,986 
   Accretion included in net income7 9 
   Unrealized gains (losses) included in other comprehensive income941 (1,319)
   Realized losses2,061 — 
   Sales(12,021)— 
   Settlements— (72)
Balance at end of period$— $8,604 
Assets measured at fair value on a nonrecurring basis
The following tables provide the fair value measurement for assets measured at fair value on a nonrecurring basis that were still held on the Consolidated Balance Sheets as of the dates presented and the level within the fair value hierarchy each is classified:
 
March 31, 2021Level 1Level 2Level 3Totals
Individually evaluated loans, net of allowance for credit losses$— $— $8,810 $8,810 
OREO— — 215 215 
Mortgage servicing rights— — 80,263 80,263 
Total$— $— $89,288 $89,288 
 
December 31, 2020Level 1Level 2Level 3Totals
Individually evaluated loans, net of allowance for credit losses$— $— $24,145 $24,145 
OREO— — 2,736 2,736 
Mortgage servicing rights— — 62,994 62,994 
Total$— $— $89,875 $89,875 
OREO measured at fair value on a nonrecurring basis
The following table presents OREO measured at fair value on a nonrecurring basis that was still held on the Consolidated Balance Sheets as of the dates presented:
 
March 31,
2021		December 31, 2020
Carrying amount prior to remeasurement$285 $4,051 
Impairment recognized in results of operations(70)(1,315)
Fair value$215 $2,736 
Significant unobservable inputs (Level 3) used in valuation of assets and liabilities measured at fair value on non recurring basis
The following table presents information as of March 31, 2021 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
 
Financial instrumentFair
Value		Valuation TechniqueSignificant
Unobservable Inputs		Range of Inputs
Individually evaluated loans, net of allowance for credit losses$8,810 Appraised value of collateral less estimated costs to sellEstimated costs to sell
4-10%
OREO$215 Appraised value of property less estimated costs to sellEstimated costs to sell
4-10%
Summarizes differences between fair value and principal balance for mortgage loans held for sale measure at fair value
The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of March 31, 2021 and December 31, 2020:
 
Aggregate
Fair Value		Aggregate
Unpaid
Principal
Balance		Difference
March 31, 2021
Mortgage loans held for sale measured at fair value$502,002 $492,064 $9,938 
December 31, 2020
Mortgage loans held for sale measured at fair value$417,771 $395,602 $22,169 
Assets and liabilities not measured and reported at fair value on a recurring basis or nonrecurring basis
The carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented:
 
  Fair Value
As of March 31, 2021Carrying
Value		Level 1Level 2Level 3Total
Financial assets
Cash and cash equivalents$1,261,916 $1,261,916 $— $— $1,261,916 
Securities available for sale1,536,041 — 1,536,041 — 1,536,041 
Loans held for sale502,002 — 502,002 — 502,002 
Loans, net10,515,302 — — 10,420,129 10,420,129 
Mortgage servicing rights80,263 — — 83,730 83,730 
Derivative instruments49,227 — 49,227 — 49,227 
Financial liabilities
Deposits$12,736,908 $11,133,259 $1,610,535 $— $12,743,794 
Short-term borrowings12,154 12,154 — — 12,154 
Federal Home Loan Bank advances152,124 — 157,139 — 157,139 
Junior subordinated debentures110,939 — 99,076 — 99,076 
Subordinated notes204,597 — 219,900 — 219,900 
Derivative instruments18,985 — 18,985 — 18,985 
 
  Fair Value
As of December 31, 2020Carrying
Value		Level 1Level 2Level 3Total
Financial assets
Cash and cash equivalents$633,203 $633,203 $— $— $633,203 
Securities available for sale1,343,457 — 1,334,445 9,012 1,343,457 
Loans held for sale417,771 — 417,771 — 417,771 
Loans, net10,757,503 — — 10,668,625 10,668,625 
Mortgage servicing rights62,994 — — 62,994 62,994 
Derivative instruments33,574 — 33,574 — 33,574 
Financial liabilities
Deposits$12,059,081 $10,363,193 $1,706,005 $— $12,069,198 
Short-term borrowings21,340 21,340 — — 21,340 
Federal Home Loan Bank advances152,167 — 158,914 — 158,914 
Junior subordinated debentures110,794 — 93,092 — 93,092 
Subordinated notes212,009 — 217,575 — 217,575 
Derivative instruments21,107 — 21,107 — 21,107