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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The following tables present our assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy level at the dates presented:
March 31, 2022
(dollars in thousands)Level 1Level 2Level 3Total
ASSETS
Available-for-sale debt securities:
U.S. Treasury securities$129,994 $— $— $129,994 
Obligations of U.S. government corporations and agencies— 58,493 — 58,493 
Collateralized mortgage obligations of U.S. government corporations and agencies— 385,602 — 385,602 
Residential mortgage-backed securities of U.S. government corporations and agencies— 50,446 — 50,446 
Commercial mortgage-backed securities of U.S. government corporations and agencies— 330,811 — 330,811 
Corporate obligations— 500 — 500 
Obligations of states and political subdivisions— 71,234 — 71,234 
Total Available-for-sale Debt Securities129,994 897,086 — 1,027,080 
Marketable equity securities1,060 78 — 1,138 
Total Securities131,054 897,164 — 1,028,218 
Securities held in a deferred compensation plan8,888 — — 8,888 
Derivative financial assets:
Interest rate swaps - commercial loans— 29,056 — 29,056 
Interest rate lock commitments— — 185 185 
Forward sale contracts - mortgage loans— — 192 192 
Interest rate swaps - cash flow hedge— 135 — 135 
Total Assets$139,942 $926,355 $377 $1,066,674 
LIABILITIES
Derivative financial liabilities:
Interest rate swaps - commercial loans$— $29,092 $— $29,092 
Interest rate swaps - cash flow hedge— 2,600 — 2,600 
Total Liabilities$— $31,692 $— $31,692 
December 31, 2021
(dollars in thousands)Level 1Level 2Level 3Total
ASSETS
Available-for-sale debt securities:
U.S. Treasury securities$95,327 $— $— $95,327 
Obligations of U.S. government corporations and agencies— 70,348 — 70,348 
Collateralized mortgage obligations of U.S. government corporations and agencies— 270,294 — 270,294 
Residential mortgage-backed securities of U.S. government corporations and agencies— 56,793 — 56,793 
Commercial mortgage-backed securities of U.S. government corporations and agencies— 341,300 — 341,300 
Corporate obligations— 500 — 500 
Obligations of states and political subdivisions— 75,089 — 75,089 
Total Available-for-sale Debt Securities95,327 814,324 — 909,651 
Marketable equity securities1,061 81 — 1,142 
Total Securities96,388 814,405 — 910,793 
Securities held in a deferred compensation plan10,230 — — 10,230 
Derivative financial assets:
Interest rate swaps - commercial loans— 33,528 — 33,528 
Interest rate lock commitments— — 401 401 
Forward sale contracts - mortgage loans— — 4 4 
Interest rate swaps - cash flow hedge— — — — 
Total Assets$106,618 $847,933 $405 $954,956 
LIABILITIES
Derivative financial liabilities:
Interest rate swaps - commercial loans$— $33,631 $— $33,631 
Total Liabilities$— $33,631 $— $33,631 
Schedule of Assets Measured at Fair Value on Nonrecurring Basis by Significant Unobservable Inputs
For Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2022 and December 31, 2021, the significant unobservable inputs used in the fair value measurements were as follows:
March 31, 2022Valuation TechniqueSignificant Unobservable InputsRange
Weighted Average
(1)
(dollars in thousands)
Loans individually evaluated$5,919 Collateral methodAppraisal adjustment0%-10.00%0.96%
Total Assets$5,919 
(1) Weighted averages for loans individually evaluated were weighted by loan amounts.

December 31, 2021Valuation TechniqueSignificant Unobservable InputsRange
Weighted Average
(1) (2)
(dollars in thousands)
Loans individually evaluated$7,268 Collateral methodAppraisal adjustment0%-20%4.48%
Other real estate owned1,011 Collateral methodAppraisal adjustment2.53%2.53%
Total Assets$8,279 
(1) Weighted averages for loans individually evaluated were weighted by loan amounts.
(2) Weighted averages for other real estate owned were weighted by OREO balances.
Schedule of Carrying Values and Fair Values of Financial Instruments
The following tables present the carrying values and fair values of our financial instruments at the dates presented:
Carrying
Value(1)
Fair Value Measurements at March 31, 2022
(dollars in thousands)TotalLevel 1Level 2Level 3
ASSETS
Cash and due from banks, including interest-bearing deposits$823,757 $823,757 $823,757 $— $— 
Securities1,028,218 1,028,218 131,054 897,164 — 
Loans held for sale1,346 1,346 — — 1,346 
Portfolio loans, net6,863,996 6,671,212 — — 6,671,212 
Collateral receivable— — — — — 
Securities held in a deferred compensation plan8,888 8,888 8,888 — — 
Mortgage servicing rights7,789 9,791 — — 9,791 
Interest rate swaps - commercial loans29,056 29,056 — 29,056 — 
Interest rate swaps - cash flow hedge135 135 — 135 — 
Interest rate lock commitments185 185 — — 185 
Forward sale contracts192 192 — — 192 
LIABILITIES
Deposits$7,960,458 $7,947,434 $6,921,872 $1,025,562 $— 
Collateral payable23,501 23,501 23,501 — — 
Securities sold under repurchase agreements70,112 70,112 70,112 — — 
Long-term borrowings22,172 21,954 4,249 17,705 — 
Junior subordinated debt securities54,408 54,408 54,408 — — 
Interest rate swaps - commercial loans29,092 29,092 — 29,092 — 
Interest rate swaps - cash flow hedge2,600 2,600 — 2,600 — 
(1) As reported in the Consolidated Balance Sheets
Carrying
Value(1)
Fair Value Measurements at December 31, 2021
(dollars in thousands)TotalLevel 1Level 2Level 3
ASSETS
Cash and due from banks, including interest-bearing deposits$922,215 $922,215 $922,215 $— $— 
Securities910,793 910,793 96,388 814,405 — 
Loans held for sale1,522 1,522 — — 1,522 
Portfolio loans, net6,901,414 6,815,468 — — 6,815,468 
Collateral receivable37,363 37,363 37,363 — — 
Securities held in a deferred compensation plan10,230 10,230 10,230 — — 
Mortgage servicing rights7,677 7,677 — — 7,677 
Interest rate swaps33,528 33,528 — 33,528 — 
Interest rate lock commitments401 401 — — 401 
Forward sale contracts4 4 — — 4 
LIABILITIES
Deposits$7,996,524 $7,992,942 $6,908,453 $1,084,489 $— 
Securities sold under repurchase agreements84,491 84,491 84,491 — — 
Short-term borrowings— — — — — 
Long-term borrowings22,430 22,678 4,300 18,378 — 
Junior subordinated debt securities54,393 54,393 54,393 — — 
Interest rate swaps - commercial loans33,631 33,631 — 33,631 — 
(1) As reported in the Consolidated Balance Sheets