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Fair Value Measurements
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
The following table summarizes financial instruments measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:
 
 March 31, 2021
(in thousands)Quoted Prices in
Active Markets
for Identical Assets
(Level 1)		Significant
Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets    
Securities available for sale    
Obligations of U.S. Government-sponsored enterprises$— $23,445 $— $23,445 
Obligations of states and political subdivisions— 403,557 — 403,557 
Agency mortgage-backed securities— 492,081 — 492,081 
U.S. Treasury bills— 11,409 — 11,409 
Corporate debt securities— 15,168 — 15,168 
Total securities available for sale— 945,660 — 945,660 
Derivatives— 20,271 — 20,271 
Total assets$— $965,931 $— $965,931 
Liabilities    
Derivatives$— $24,799 $— $24,799 
Total liabilities$— $24,799 $— $24,799 

December 31, 2020
(in thousands)Quoted Prices in
Active Markets
for Identical Assets
(Level 1)		Significant
Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets    
Securities available for sale    
Obligations of U.S. Government-sponsored enterprises$— $15,161 $— $15,161 
Obligations of states and political subdivisions— 344,232 — 344,232 
Residential mortgage-backed securities— 526,572 — 526,572 
Corporate debt securities— 14,998 — 14,998 
U.S. Treasury bills— 11,466 — 11,466 
Total securities available-for-sale— 912,429 — 912,429 
Derivative financial instruments— 28,703 — 28,703 
Total assets$— $941,132 $— $941,132 
Liabilities    
Derivatives$— $34,967 $— $34,967 
Total liabilities$— $34,967 $— $34,967 
From time to time, the Company measures certain assets at fair value on a nonrecurring basis. These include assets measured at the lower of cost or fair value that were recognized at fair value below cost at the end of the period.
March 31, 2021
(in thousands)Total Fair ValueQuoted Prices in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Nonaccrual loans (1)$2,503 $— $— $2,503 
(1) The amounts represent only balances measured at fair value during the period and still held as of the reporting date.

The following table presents the losses recorded in relation to assets measured on a nonrecurring basis and still held as of the reporting date.
Three months ended
(in thousands)March 31, 2021March 31, 2020
Nonaccrual loans$1,742 $11 
Other real estate— 777 
Total$1,742 $788 

Following is a summary of the carrying amounts and fair values of certain financial instruments:
 March 31, 2021December 31, 2020
(in thousands)Carrying AmountEstimated fair valueLevelCarrying AmountEstimated fair valueLevel
Balance sheet assets    
Securities held-to-maturity, net$467,059 $470,099 Level 2$487,610 $501,523 Level 2
Other investments51,099 51,099 Level 248,764 48,764 Level 2
Loans held for sale8,531 8,531 Level 213,564 13,564 Level 2
Loans, net7,157,254 7,099,662 Level 37,088,264 7,067,562 Level 3
State tax credits, held for sale34,287 37,802 Level 336,853 39,925 Level 3
Balance sheet liabilities    
Certificates of deposit$521,351 $525,000 Level 3$550,095 $553,946 Level 3
Subordinated debentures and notes203,778 193,071 Level 2203,637 192,889 Level 2
FHLB advances50,000 51,694 Level 250,000 51,871 Level 2
Other borrowings and notes payable229,389 229,389 Level 2301,081 301,081 Level 2

For information regarding the methods and assumptions used to estimate the fair value of each class of financial instruments refer to Note 19 – Fair Value Measurements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC.