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Disclosures About Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of fair value measurements of assets and liabilities recognized in Consolidated Condensed Balance Sheets measured at fair value

The following table presents the fair value measurements of assets and liabilities recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the ASC 820 fair value hierarchy in which the fair value measurements fall at March 31, 2021, and December 31, 2020.

									Fair Value Measurements Using:
March 31, 2021			Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Available for sale securities:
U.S. Treasury			$	1,000					$	—					$	1,000					$	—
U.S. Government-sponsored agency securities			11,381						—						11,381						—
State and municipal			1,366,162						—						1,364,051						2,111
U.S. Government-sponsored mortgage-backed securities			1,022,863						—						1,022,859						4
Corporate obligations			4,162						—						4,131						31
Interest rate swap asset			48,576						—						48,576						—
Interest rate swap liability			50,284						—						50,284						—

									Fair Value Measurements Using:
December 31, 2020			Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Available for sale securities:
U.S. Government-sponsored agency securities			$	2,430					$	—					$	2,430					$	—
State and municipal			1,257,885						—						1,255,441						2,444
U.S. Government-sponsored mortgage-backed securities			654,669						—						654,665						4
Corporate obligations			4,135						—						4,104						31
Interest rate swap asset			74,335						—						74,335						—
Interest rate swap liability			76,353						—						76,353						—

Schedule of reconciliation of beginning and ending balances of recurring fair value measurements recognized in Consolidated Condensed Balance Sheets using significant unobservable Level 3 inputs

The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying

balance sheets using significant unobservable Level 3 inputs for the three months ended March 31, 2021 and 2020.

			Available for Sale Securities
			Three Months Ended
			March 31, 2021						March 31, 2020
Balance at beginning of the period			$	2,479					$	2,893
Included in other comprehensive income			(60)						(20)
Principal payments			(273)						(344)
Ending balance			$	2,146					$	2,529

Schedule of description of valuation methodologies used for instruments measured at fair value on a non-recurring basis and recognized in Consolidated Condensed Balance Sheets

Following is a description of valuation methodologies used for instruments measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy for March 31, 2021, and December 31, 2020.

												Fair Value Measurements Using
March 31, 2021						Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Collateral dependent loans						$	40,698					$	—					$	—					$	40,698
Other real estate owned						185						—						—						185

												Fair Value Measurements Using
December 31, 2020						Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable  Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Impaired loans (collateral dependent)						$	37,250					$	—					$	—					$	37,250
Other real estate owned						544						—						—						544

Schedule of unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at March 31, 2021 and December 31, 2020.

March 31, 2021

Fair Value

Valuation Technique

Unobservable Inputs

Range (Weighted-Average)

State and municipal securities

$

2,111

Discounted cash flow

Maturity/Call date

1 month to 15 years

US Muni BQ curve

A- to BBB-

Discount rate

2% - 4%

Weighted-average coupon

4%

Corporate obligations and U.S. Government-sponsored mortgage-backed securities

$

35

Discounted cash flow

Risk free rate

3 month LIBOR

plus premium for illiquidity

plus 200bps

Weighted-average coupon

—%

Collateral dependent loans

$

40,698

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

0% - 10%

Weighted-average discount by loan balance

4%

Other real estate owned

$

185

Appraisals

Discount to reflect current market conditions

0% - 72%

Weighted-average discount of other real estate owned balance

39%

December 31, 2020

Fair Value

Valuation Technique

Unobservable Inputs

Range (Weighted-Average)

State and municipal securities

$

2,444

Discounted cash flow

Maturity/Call date

1 month to 15 years

US Muni BQ curve

A- to BBB-

Discount rate

2% - 4%

Weighted-average coupon

4%

Corporate obligations and U.S Government-sponsored mortgage-backed securities

$

35

Discounted cash flow

Risk free rate

3 month LIBOR

plus premium for illiquidity

plus 200bps

Weighted-average coupon

—%

Impaired loans (collateral dependent)

$

37,250

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

0% - 10%

Weighted-average discount by loan balance

6%

Other real estate owned

$

544

Appraisals

Discount to reflect current market conditions

0% - 30%

Weighted-average discount of other real estate owned balance

26%

Schedule of estimated fair values of financial instruments

The following table presents estimated fair values of the Corporation’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2021, and December 31, 2020.

									March 31, 2021
									Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
			Carrying Amount						(Level 1)						(Level 2)						(Level 3)
Assets:
Cash and cash equivalents			$	187,901					$	187,901					$	—					$	—
Interest-bearing deposits			392,806						392,806						—						—
Investment securities available for sale			2,405,568						—						2,403,422						2,146
Investment securities held to maturity			1,295,289						—						1,299,944						18,836
Loans held for sale			4,430						—						4,430						—
Loans			9,117,146						—						—						9,168,023
Federal Home Loan Bank stock			28,736						—						28,736						—
Interest rate swap asset			48,576						—						48,576						—
Interest receivable			54,662						—						54,662						—
Liabilities:
Deposits			$	11,951,780					$	11,103,474					$	847,398					$	—
Borrowings:
Securities sold under repurchase agreements			185,721						—						185,716						—
Federal Home Loan Bank advances			359,337						—						366,179						—
Subordinated debentures and other borrowings			118,439						—						108,124						—
Interest rate swap liability			50,284						—						50,284						—
Interest payable			4,020						—						4,020						—

									December 31, 2020
									Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
			Carrying Amount						(Level 1)						(Level 2)						(Level 3)
Assets:
Cash and cash equivalents			$	192,896					$	192,896					$	—					$	—
Interest-bearing deposits			392,305						392,305						—						—
Investment securities available for sale			1,919,119						—						1,916,640						2,479
Investment securities held to maturity			1,227,668						—						1,260,815						19,478
Loans held for sale			3,966						—						3,966						—
Loans			9,112,526						—						—						9,191,628
Federal Home Loan Bank stock			28,736						—						28,736						—
Interest rate swap asset			74,335						—						74,335						—
Interest receivable			53,948						—						53,948						—
Liabilities:
Deposits			$	11,361,610					$	10,482,865					$	878,257					$	—
Borrowings:
Securities sold under repurchase agreements			177,102						—						177,097						—
Federal Home Loan Bank advances			389,430						—						399,991						—
Subordinated debentures and other borrowings			118,380						—						108,439						—
Interest rate swap liability			76,353						—						76,353						—
Interest payable			3,287						—						3,287						—

X

- Definition

Fair Value, Assets And Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation

+ References

No definition available.

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-Name Accounting Standards Codification
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-Subparagraph (a)
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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