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

3 Months Ended

Mar. 31, 2019

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 set 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, 2019
Assets:
AFS securities:
Federal agency	$	-	$	29,636	$	-	$	29,636
State & municipal		-		598		-		598
Mortgage-backed		-		516,167		-		516,167
Collateralized mortgage obligations		-		405,458		-		405,458
Total AFS securities	$	-	$	951,859	$	-	$	951,859
Equity securities		21,482		4,000		-		25,482
Derivatives		-		23,871		-		23,871
Total	$	21,482	$	979,730	$	-	$	1,001,212

Liabilities:
Derivatives	$	-	$	22,266	$	-	$	22,266
Total	$	-	$	22,266	$	-	$	22,266

(In thousands)	Level 1		Level 2		Level 3		December 31, 2018
Assets:
AFS securities:
Federal agency	$	-	$	84,299	$	-	$	84,299
State & municipal		-		29,915		-		29,915
Mortgage-backed		-		512,295		-		512,295
Collateralized mortgage obligations		-		371,987		-		371,987
Total AFS securities	$	-	$	998,496	$	-	$	998,496
Equity securities		19,053		4,000		-		23,053
Derivatives		-		20,000		-		20,000
Total	$	19,053	$	1,022,496	$	-	$	1,041,549

Liabilities:
Derivatives	$	-	$	17,572	$	-	$	17,572
Total	$	-	$	17,572	$	-	$	17,572

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, 2019				December 31, 2018
(In thousands)	Fair Value Hierarchy		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
HTM securities		2	$	780,565	$	782,761	$	783,599	$	778,675
Net loans		3		6,827,432		6,775,550		6,822,147		6,754,460
Financial liabilities:
Time deposits		2	$	922,304	$	915,990	$	930,678	$	920,534
Long-term debt		2		73,696		73,981		73,724		73,927
Junior subordinated debt		2		101,196		102,946		101,196		100,114