Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Measurements and Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis

The following tables sets forth the Company’s financial assets and liabilities measured on a recurring basis that were accounted for at fair value. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

(In thousands)	Level 1		Level 2		Level 3		March 31, 2023
Assets:
AFS securities:
U.S. treasury	$	123,579	$	-	$	-	$	123,579
Federal agency		-		210,220		-		210,220
State & municipal		-		85,033		-		85,033
Mortgage-backed		-		463,578		-		463,578
Collateralized mortgage obligations		-		582,361		-		582,361
Corporate		-		47,237		-		47,237
Total AFS securities	$	123,579	$	1,388,429	$	-	$	1,512,008
Equity securities		31,807		1,000		-		32,807
Derivatives		-		94,228		-		94,228
Total	$	155,386	$	1,483,657	$	-	$	1,639,043
Liabilities:
Derivatives	$	-	$	94,184	$	-	$	94,184
Total	$	-	$	94,184	$	-	$	94,184

(In thousands)	Level 1		Level 2		Level 3		December 31, 2022
Assets:
AFS securities:
U.S. treasury	$	121,658	$	-	$	-	$	121,658
Federal agency		-		206,419		-		206,419
State & municipal		-		82,851		-		82,851
Mortgage-backed		-		473,694		-		473,694
Collateralized mortgage obligations		-		588,363		-		588,363
Corporate		-		54,240		-		54,240
Total AFS securities	$	121,658	$	1,405,567	$	-	$	1,527,225
Equity securities		29,784		1,000		-		30,784
Derivatives		-		93,185		-		93,185
Total	$	151,442	$	1,499,752	$	-	$	1,651,194
Liabilities:
Derivatives	$	-	$	117,257	$	-	$	117,257
Total	$	-	$	117,257	$	-	$	117,257

Information with Regard to Estimated Fair Values of Financial Instruments

The following table sets forth information with regard to estimated fair values of financial instruments. This table excludes financial instruments for which the carrying amount approximates fair value. Financial instruments for which the fair value approximates carrying value include cash and cash equivalents, AFS securities, equity securities, accrued interest receivable, non-maturity deposits, short-term borrowings, accrued interest payable and derivatives.

			March 31, 2023				December 31, 2022
(In thousands)	Fair Value Hierarchy		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
HTM securities		2	$	906,824	$	812,664	$	919,517	$	812,647
Net loans		3		8,164,753		7,785,338		8,049,909		7,840,350
Financial liabilities:
Time deposits		2	$	784,467	$	743,678	$	433,772	$	413,868
Long-term debt		2		29,790		29,469		4,815		4,539
Subordinated debt		1		98,000		91,506		98,000		92,883
Junior subordinated debt		2		101,196		98,443		101,196		98,372