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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 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:
September 30, 2022
(dollars in thousands)Level 1Level 2Level 3Total
ASSETS
Available-for-sale debt securities:
U.S. Treasury securities$120,825 $— $— $120,825 
Obligations of U.S. government corporations and agencies— 51,784 — 51,784 
Collateralized mortgage obligations of U.S. government corporations and agencies— 419,719 — 419,719 
Residential mortgage-backed securities of U.S. government corporations and agencies— 41,984 — 41,984 
Commercial mortgage-backed securities of U.S. government corporations and agencies— 323,469 — 323,469 
Corporate obligations— 500 — 500 
Obligations of states and political subdivisions— 38,122 — 38,122 
Total Available-for-sale Debt Securities120,825 875,578 — 996,403 
Marketable equity securities963 62 — 1,025 
Total Securities121,788 875,640 — 997,428 
Securities held in a deferred compensation plan7,354 — — 7,354 
Derivative financial assets:
Interest rate swaps - commercial loans— 88,888 — 88,888 
Forward sale contracts - mortgage loans— — 8 8 
Total Assets$129,142 $964,528 $8 $1,093,678 
LIABILITIES
Derivative financial liabilities:
Interest rate swaps - commercial loans$— $88,920 $— $88,920 
Interest rate lock commitments— — 3 3 
Interest rate swaps - cash flow hedge— 22,724 — 22,724 
Total Liabilities$— $111,644 $3 $111,647 
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 
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 Level 3 assets measured at fair value on a nonrecurring basis and the significant unobservable inputs used in the fair value measurements as of December 31, 2021 were as follows:
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 September 30, 2022
(dollars in thousands)TotalLevel 1Level 2Level 3
ASSETS
Cash and due from banks, including interest-bearing deposits$134,903 $134,903 $134,903 $— $— 
Securities997,428 997,428 121,788 875,640 — 
Loans held for sale1,039 1,039 — — 1,039 
Portfolio loans, net6,997,222 6,729,260 — — 6,729,260 
Collateral receivable5,529 5,529 5,529 — — 
Securities held in a deferred compensation plan7,354 7,354 7,354 — — 
Mortgage servicing rights7,374 7,374 — — 7,374 
Interest rate swaps - commercial loans88,888 88,888 — 88,888 — 
Forward sale contracts8 8 — — 8 
LIABILITIES
Deposits$7,410,597 $7,382,732 $6,457,813 $924,919 $— 
Collateral payable69,183 69,183 69,183 — — 
Short-term borrowings35,000 35,000 35,000 — — 
Long-term borrowings14,853 14,257 4,156 10,101 — 
Junior subordinated debt securities54,438 54,438 54,438 — — 
Interest rate swaps - commercial loans88,920 88,920 — 88,920 — 
Interest rate swaps - cash flow hedge22,724 22,724 — 22,724 — 
Interest rate lock commitments3 3 — — 3 
(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