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Fair Value of Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair value measurement of assets and liabilities measured at fair value on a recurring basis
The following tables disclose the fair value measurement of assets and liabilities measured at fair value on a recurring basis:
 
  Fair Value Measurements
At the End of the Reporting Period Using
(Dollars in thousands)Fair Value December 31, 2019Quoted Prices
in Active
Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Debt securities, available-for-sale
U.S. government and federal agency$20,044  —  20,044  —  
U.S. government sponsored enterprises43,677  —  43,677  —  
State and local governments702,398  —  702,398  —  
Corporate bonds157,602  —  157,602  —  
Residential mortgage-backed securities738,724  —  738,724  —  
Commercial mortgage-backed securities912,807  —  912,807  —  
Loans held for sale, at fair value
69,194  —  69,194  —  
Total assets measured at fair value on a recurring basis
$2,644,446  —  2,644,446  —  

  Fair Value Measurements
At the End of the Reporting Period Using
(Dollars in thousands)Fair Value December 31, 2018Quoted Prices
in Active
Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Debt securities, available-for-sale
U.S. government and federal agency$23,649  —  23,649  —  
U.S. government sponsored enterprises120,208  —  120,208  —  
State and local governments852,250  —  852,250  —  
Corporate bonds290,817  —  290,817  —  
Residential mortgage-backed securities792,915  —  792,915  —  
Commercial mortgage-backed securities491,824  —  491,824  —  
Loans held for sale, at fair value33,156  —  33,156  —  
Total assets measured at fair value on a recurring basis
$2,604,819  —  2,604,819  —  
Interest rate swaps$3,769  —  3,769  —  
Total liabilities measured at fair value on a recurring basis
$3,769  —  3,769  —  
Fair value measurement of assets measured at fair value on a non-recurring basis
The following tables disclose the fair value measurement of assets with a recorded change during the period resulting from re-measuring the assets at fair value on a non-recurring basis:
  Fair Value Measurements
At the End of the Reporting Period Using
(Dollars in thousands)Fair Value December 31, 2019Quoted Prices
in Active
Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Other real estate owned$1,983  —  —  1,983  
Collateral-dependent impaired loans, net of ALLL23  —  —  23  
Total assets measured at fair value on a non-recurring basis
$2,006  —  —  2,006  

  Fair Value Measurements
At the End of the Reporting Period Using
(Dollars in thousands)Fair Value December 31, 2018Quoted Prices
in Active
Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Other real estate owned$1,011  —  —  1,011  
Collateral-dependent impaired loans, net of ALLL6,985  —  —  6,985  
Total assets measured at fair value on a non-recurring basis
$7,996  —  —  7,996  
Quantitative information about assets measured at fair value on a non-recurring basis for which Level 3 inputs were used
The following tables present additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair value:

 Fair ValueQuantitative Information about Level 3 Fair Value Measurements
(Dollars in thousands)December 31,
2019
Valuation TechniqueUnobservable Input
Range (Weighted- Average) 1
Other real estate owned$1,983  Sales comparison approachSelling costs6.0% - 10.0% (7.3%)
Adjustment to comparables0.0% - 11.1% (4.5%)
Collateral-dependent
impaired loans, net of ALLL
$ Cost approachSelling costs10.0% - 10.0% (10.0%)
14  Sales comparison approachAdjustment to comparables0.0% - 0.0% (0.0%)
$23  

 Fair ValueQuantitative Information about Level 3 Fair Value Measurements
(Dollars in thousands)December 31,
2018
Valuation TechniqueUnobservable Input
Range (Weighted- Average) 1
Other real estate owned$1,011  Sales comparison approachSelling costs8.0% - 15.0% (9.2%)
Collateral-dependent impaired loans, net of ALLL$2,384  Sales comparison approachSelling costs8.0% - 20.0% (9.9%)
4,601  Combined approachSelling costs10.0% - 10.0% (10.0%)
$6,985  
______________________________
1 The range for selling cost inputs represents reductions to the fair value of the assets.
Carrying amounts and estimated fair values of financial instruments
The following tables present the carrying amounts, estimated fair values and the level within the fair value hierarchy of the Company’s financial instruments not carried at fair value. Receivables and payables due in one year or less, equity securities without readily determinable fair values and deposits with no defined or contractual maturities are excluded.

  Fair Value Measurements
At the End of the Reporting Period Using
(Dollars in thousands)Carrying Amount December 31, 2019Quoted Prices
in Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Financial assets
Cash and cash equivalents$330,961  330,961  —  —  
Debt securities, held-to-maturity224,611  —  234,396  —  
Loans receivable, net of ALLL9,388,320  —  —  9,438,121  
Total financial assets$9,943,892  330,961  234,396  9,438,121  
Financial liabilities
Term deposits$1,011,798  —  1,017,505  —  
FHLB advances38,611  —  38,787  —  
Repurchase agreements and other borrowed funds
598,644  —  598,644  —  
Subordinated debentures139,914  —  124,094  —  
Total financial liabilities$1,788,967  —  1,779,030  —  
  Fair Value Measurements
At the End of the Reporting Period Using
(Dollars in thousands)Carrying Amount December 31, 2018Quoted Prices
in Active  Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Financial assets
Cash and cash equivalents$203,790  203,790  —  —  
Debt securities, held-to-maturity297,915  —  288,256  —  
Loans receivable, net of ALLL8,156,310  —  —  8,079,112  
Total financial assets$8,658,015  203,790  288,256  8,079,112  
Financial liabilities
Term deposits$1,070,208  —  1,069,777  —  
FHLB advances440,175  —  439,615  —  
Repurchase agreements and other borrowed funds
410,859  —  410,859  —  
Subordinated debentures134,051  —  120,302  —  
Total financial liabilities$2,055,293  —  2,040,553  —