Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Investments, All Other Investments [Abstract]

Carrying Amounts and Fair Values of Company's Financial Instruments

The following presents (in thousands) the carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of December 31, 2019 and December 31, 2018. This table excludes financial instruments for which the carrying amount approximates fair value. Financial assets for which the fair value approximates carrying value include cash and cash equivalents, short-term investments, FHLBB stock and accrued interest receivable. Financial liabilities for which the fair value approximates carrying value include non-maturity deposits, short-term borrowings and accrued interest payable.

					Fair Value Measurements
	Carrying Amount		Estimated Fair Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
(dollars in thousands)
December 31, 2019
Financial assets:
Securities held-to-maturity	$	2,351,120	$	2,361,304	$	—	$	2,361,304	$	—
Loans(1)		2,396,534		2,424,770		—		—		2,424,770
Financial liabilities:
Time deposits		555,447		560,746		—		560,746		—
Other borrowed funds		370,955		374,531		—		374,531		—
Subordinated debentures		36,083		36,083		—		36,083		—
December 31, 2018
Financial assets:
Securities held-to-maturity	$	2,046,647	$	1,991,421	$	—	$	1,991,421	$	—
Loans(1)		2,257,035		2,279,712		—		—		2,279,712
Financial liabilities:
Time deposits		560,579		559,988		—		559,988		—
Other borrowed funds		202,378		203,122		—		203,122		—
Subordinated debentures		36,083		36,083		—		36,083		—

(1) Comprised of loans (including collateral dependent impaired loans), net of deferred loan costs and the allowance for loan losses.