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FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Schedule of carrying amount and estimated fair value of financial instruments |
|  |  |  |  | Fair Value Measurement Using
(dollars in thousands) | Carrying Amount |  | Estimated Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
September 30, 2021 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 108,669 |  |  | $ | 108,669 |  |  | $ | 108,669 |  |  | $ | — |  |  | $ | — |
Interest-bearing deposits in other banks | 240,173 |  |  | 240,173 |  |  | 240,173 |  |  | — |  |  | — |
Investment securities | 1,537,043 |  |  | 1,537,043 |  |  | 1,593 |  |  | 1,526,686 |  |  | 8,764 |
Loans held for sale | 5,290 |  |  | 5,290 |  |  | — |  |  | 5,290 |  |  | — |
Net loans | 4,971,210 |  |  | 4,880,971 |  |  | — |  |  | — |  |  | 4,880,971 |
Accrued interest receivable | 17,110 |  |  | 17,110 |  |  | 17,110 |  |  | — |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Noninterest-bearing demand | 2,195,404 |  |  | 2,195,404 |  |  | 2,195,404 |  |  | — |  |  | — |
Interest-bearing demand and savings and money market | 3,669,594 |  |  | 3,669,594 |  |  | 3,669,594 |  |  | — |  |  | — |
Time | 650,865 |  |  | 650,025 |  |  | — |  |  | — |  |  | 650,025 |
Long-term debt | 105,556 |  |  | 94,288 |  |  | — |  |  | — |  |  | 94,288 |
Accrued interest payable (included in other liabilities) | 1,708 |  |  | 1,708 |  |  | 1,708 |  |  | — |  |  | — |
|  |  |  |  |  |  | Fair Value Measurement Using
(dollars in thousands) | Notional Amount |  | Carrying Amount |  | Estimated Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
September 30, 2021 |  |  |  |  |  |  |  |  |  |  |
Derivatives: |  |  |  |  |  |  |  |  |  |  |
Interest rate lock commitments | $ | 16,412 |  |  | $ | 114 |  |  | $ | 114 |  |  | $ | — |  |  | $ | 114 |  |  | $ | — |
Forward sale commitments | 20,168 |  |  | 169 |  |  | 169 |  |  | — |  |  | 169 |  |  | — |
Risk participation agreements | 37,590 |  |  | (19) |  |  | (19) |  |  | — |  |  | — |  |  | (19) |
Back-to-back swap agreements: |  |  |  |  |  |  |  |  |  |  |
Assets | 15,964 |  |  | 127 |  |  | 127 |  |  | — |  |  | — |  |  | 127 |
Liabilities | 15,964 |  |  | (127) |  |  | (127) |  |  | — |  |  | — |  |  | (127) |
Off-balance sheet financial instruments: |  |  |  |  |  |  |  |  |  |  |
Commitments to extend credit | 1,364,784 |  |  | — |  |  | 1,653 |  |  | — |  |  | 1,653 |  |  | — |
Standby letters of credit and financial guarantees written | 10,967 |  |  | — |  |  | 165 |  |  | — |  |  | 165 |  |  | — |
|  |  |  |  | Fair Value Measurement Using
(dollars in thousands) | Carrying Amount |  | Estimated Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
December 31, 2020 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 97,546 |  |  | $ | 97,546 |  |  | $ | 97,546 |  |  | $ | — |  |  | $ | — |
Interest-bearing deposits in other banks | 6,521 |  |  | 6,521 |  |  | 6,521 |  |  | — |  |  | — |
Investment securities | 1,183,960 |  |  | 1,183,960 |  |  | 1,351 |  |  | 1,170,283 |  |  | 12,326 |
Loans held for sale | 16,687 |  |  | 16,687 |  |  | — |  |  | 16,687 |  |  | — |
Net loans | 4,880,844 |  |  | 4,795,776 |  |  | — |  |  | — |  |  | 4,795,776 |
Accrued interest receivable | 20,224 |  |  | 20,224 |  |  | 20,224 |  |  | — |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Noninterest-bearing demand | 1,790,269 |  |  | 1,790,269 |  |  | 1,790,269 |  |  | — |  |  | — |
Interest-bearing demand and savings and money market | 3,106,931 |  |  | 3,106,931 |  |  | 3,106,931 |  |  | — |  |  | — |
Time | 898,918 |  |  | 899,562 |  |  | — |  |  | — |  |  | 899,562 |
Short-term borrowings | 22,000 |  |  | 22,000 |  |  | — |  |  | 22,000 |  |  | — |
Long-term debt | 105,385 |  |  | 92,488 |  |  | — |  |  | — |  |  | 92,488 |
Accrued interest payable (included in other liabilities) | 1,727 |  |  | 1,727 |  |  | 1,727 |  |  | — |  |  | — |
Schedule of balances of assets and liabilities measured at fair value on a recurring basis | The following tables present the fair value of assets and liabilities measured on a recurring basis as of September 30, 2021 and December 31, 2020:
|  |  | Fair Value at Reporting Date Using
(dollars in thousands) | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
September 30, 2021 |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |
States and political subdivisions | $ | 211,867 |  |  | $ | — |  |  | $ | 204,031 |  |  | $ | 7,836 |
Corporate securities | 41,250 |  |  | — |  |  | 41,250 |  |  | — |
U.S. Treasury obligations and direct obligations of U.S Government agencies | 37,789 |  |  | — |  |  | 37,789 |  |  | — |
Mortgage-backed securities: |  |  |  |  |  |  |
Residential - U.S. Government sponsored entities | 1,111,763 |  |  | — |  |  | 1,111,763 |  |  | — |
Commercial - U.S. Government agencies and sponsored entities | 76,756 |  |  | — |  |  | 76,756 |  |  | — |
Residential - Non-government agencies | 13,655 |  |  | — |  |  | 12,727 |  |  | 928 |
Commercial - Non-government agencies | 42,370 |  |  | — |  |  | 42,370 |  |  | — |
Total available-for-sale securities | 1,535,450 |  |  | — |  |  | 1,526,686 |  |  | 8,764 |
Equity securities | 1,593 |  |  | 1,593 |  |  | — |  |  | — |
Derivatives: Interest rate lock, forward sale commitments, risk participation agreements and back-to-back swap agreements | 264 |  |  | — |  |  | 283 |  |  | (19) |
Total | $ | 1,537,307 |  |  | $ | 1,593 |  |  | $ | 1,526,969 |  |  | $ | 8,745 |
|  |  | Fair Value at Reporting Date Using
(dollars in thousands) | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
December 31, 2020 |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |
States and political subdivisions | $ | 168,766 |  |  | $ | — |  |  | $ | 157,429 |  |  | $ | 11,337 |
Corporate securities | 48,008 |  |  | — |  |  | 48,008 |  |  | — |
U.S. Treasury obligations and direct obligations of U.S Government agencies | 33,145 |  |  | — |  |  | 33,145 |  |  | — |
Mortgage-backed securities: |  |  |  |  |  |  |
Residential - U.S. Government sponsored entities | 778,826 |  |  | — |  |  | 778,826 |  |  | — |
Commercial - U.S. Government agencies and sponsored entities | 87,469 |  |  | — |  |  | 87,469 |  |  | — |
Residential - Non-government agencies | 23,423 |  |  | — |  |  | 22,434 |  |  | 989 |
Commercial - Non-government agencies | 42,972 |  |  | — |  |  | 42,972 |  |  | — |
Total available-for-sale securities | 1,182,609 |  |  | — |  |  | 1,170,283 |  |  | 12,326 |
Equity securities | 1,351 |  |  | 1,351 |  |  | — |  |  | — |
Derivatives: Interest rate lock, forward sale commitments, risk participation agreements and back-to-back swap agreements | (145) |  |  | — |  |  | (97) |  |  | (48) |
Total | $ | 1,183,815 |  |  | $ | 1,351 |  |  | $ | 1,170,186 |  |  | $ | 12,278 |
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis | For the nine months ended September 30, 2021 and 2020, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:
| Available-For-Sale Debt Securities: |  |
(dollars in thousands) | States and Political Subdivisions |  | Residential - Non-Government Agencies |  | Total
Balance at December 31, 2020 | $ | 11,337 |  |  | $ | 989 |  |  | $ | 12,326 |
Principal payments received | (2,787) |  |  | (16) |  |  | (2,803) |
Unrealized net loss included in other comprehensive income | (714) |  |  | (45) |  |  | (759) |
Balance at September 30, 2021 | $ | 7,836 |  |  | $ | 928 |  |  | $ | 8,764 |
Balance at December 31, 2019 | $ | 11,255 |  |  | $ | — |  |  | $ | 11,255 |
Principal payments received | (319) |  |  | — |  |  | (319) |
Unrealized net gain included in other comprehensive income | 598 |  |  | — |  |  | 598 |
Purchases | — |  |  | 994 |  |  | 994 |
Balance at September 30, 2020 | $ | 11,534 |  |  | $ | 994 |  |  | $ | 12,528 |
Schedule of level of valuation assumptions used to determine the fair value of assets measured on a nonrecurring basis | as of September 30, 2021 and December 31, 2020.

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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) whether recognized or not in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition and the measurements of those instruments, assets and liabilities. Such disclosures about the financial instruments, assets and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References No definition available. + Details
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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 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&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 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: 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=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: 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=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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