Estimated Fair Value of Financial Instruments and Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Assets		Inputs		Inputs		Total
	(Level 1)		(Level 2)		(Level 3)		Fair Value
	(in thousands)
September 30, 2017
Assets:
Investment securities, available for sale
U.S. Treasury and government agencies	$	5,697	$	136,134	$	—	$	141,831
Mortgage-backed securities		—		430,135		—		430,135
Obligations of states and political subdivisions		—		52,414		—		52,414
Other debt securities		—		5,100		—		5,100
Equity securities		4,858		12,954		—		17,812
Total securities available for sale		10,555		636,737		—		647,292
Derivative assets		—		6,251		—		6,251
Total Assets	$	10,555	$	642,988	$	—	$	653,543
Liabilities:
Derivative liabilities	$	—	$	5,380	$	—	$	5,380
Total Liabilities	$	—	$	5,380	$	—	$	5,380
December 31, 2016
Assets:
Investment securities, available for sale
U.S. Treasury and government agencies	$	5,931	$	111,428	$	—	$	117,359
Mortgage-backed securities		—		413,725		—		413,725
Obligations of states and political subdivisions		—		48,326		—		48,326
Other debt securities		—		5,412		—		5,412
Equity securities		7,748		14,134		—		21,882
Total securities available for sale		13,679		593,025		—		606,704
Derivative assets		—		3,378		—		3,378
Total Assets	$	13,679	$	596,403	$	—	$	610,082
Liabilities:
Derivative liabilities	$	—	$	2,345	$	—	$	2,345
Total Liabilities	$	—	$	2,345	$	—	$	2,345

Fair Value of Assets Measured on Non-recurring Basis

The following table sets forth the Company’s assets subject to fair value adjustments (impairment) on a non-recurring basis. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

	(Level 1)		(Level 2)		(Level 3)		Total Fair Value
			(in thousands)
September 30, 2017
Assets:
Impaired loans and leases	$	—	$	—	$	21,590	$	21,590
Loans held for sale		—		2,221		—		2,221
Other real estate owned and other repossessed assets		—		—		1,168		1,168
December 31, 2016
Assets:
Impaired loans and leases	$	—	$	—	$	25,285	$	25,285
Loans held for sale		—		1,742		—		1,742
Other real estate owned and other repossessed assets		—		—		1,072		1,072

Carrying Values and Fair Values of Company's Financial Instruments

The following table presents the carrying values, fair values and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2017 and December 31, 2016:

	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
September 30, 2017
Financial Assets:
Investment securities held to maturity	$	135,021	$	135,085	$	—	$	118,002	$	17,083
Federal Home Loan Bank and other membership bank stocks		12,783		12,783		—		12,783		—
Loans and leases, net		4,055,248		4,057,939		—		—		4,057,939
Financial Liabilities:
Certificates of deposit		720,040		717,318		—		717,318		—
Other borrowings		196,539		195,253		—		195,253		—
Subordinated debentures		104,872		96,717		—		—		96,717
December 31, 2016
Financial Assets:
Investment securities held to maturity	$	147,614	$	146,990	$	—	$	111,403	$	35,587
Federal Home Loan Bank and other membership bank stocks		15,099		15,099		—		15,099		—
Loans and leases, net		3,839,353		3,832,465		—		—		3,832,465
Financial Liabilities:
Certificates of deposit		544,908		543,399		—		543,399		—
Other borrowings		260,866		264,586		—		264,586		—
Subordinated debentures		104,784		94,476		—		—		94,476