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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Summary of Estimated Fair Values of Financial Instruments

The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall.

			September 30, 2021
			Carrying Amount						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets
Cash and due from banks			$	971,817					$	971,817					$	—					$	—
Interest–earning time deposits			5,767						—						5,881						—
Investment securities, held to maturity			769,240						—						768,099						—
Loans held for sale			4,811						—						—						4,811
Loans (excluding loan level hedges), net			3,603,302						—						—						3,518,194
Stock in FHLB			24,440						—						24,440						—
Interest receivable			24,762						—						24,762						—
Liabilities
Non–interest bearing deposits			$	1,324,757					$	1,324,757					$	—					$	—
Interest bearing deposits			4,655,142						—						4,603,849						—
Borrowings			670,753						—						669,517						—
Subordinated notes			58,713						—						58,176						—
Junior subordinated debentures issued to capital trusts			56,722						—						53,384						—
Interest payable			1,427						—						1,427						—

			December 31, 2020
			Carrying Amount						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets
Cash and due from banks			$	249,711					$	249,711					$	—					$	—
Interest–earning time deposits			8,965						—						9,136						—
Investment securities, held to maturity			168,676						—						179,990						—
Loans held for sale			13,538						—						—						13,538
Loans (excluding loan level hedges), net			3,810,356						—						—						3,767,348
Stock in FHLB			23,023						—						23,023						—
Interest receivable			21,396						—						21,396						—
Liabilities
Non–interest bearing deposits			$	1,053,242					$	1,053,242					$	—					$	—
Interest bearing deposits			3,477,891						—						3,466,522						—
Borrowings			475,000						—						483,245						—
Subordinated notes			58,603						—						57,626						—
Junior subordinated debentures issued to capital trusts			56,548						—						52,676						—
Interest payable			2,712						—						2,712						—

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ 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 (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- References

No definition available.

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