0001140361-21-006657 | 10-K | XBRL Viewer

Accumulated other comprehensive income (loss)

749,056

696,214

417

(19,026)

Common stock in treasury, at cost, 6,022,399 and 5,854,882 shares at December 31, 2020 and 2019, respectively

(140,434)

(133,996)

Total stockholders' equity

1,187,618

1,120,397

Total liabilities and stockholders' equity

$ 10,932,906

$ 9,715,925

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Securities held to maturity fair value	$ 636,827	$ 641,262
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,500,000	2,500,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	49,651,493	49,651,493
Common stock in treasury, at cost (in shares)	6,022,399	5,854,882

Consolidated Statements of Income - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Interest, fee and dividend income

Interest and fees on loans

$ 307,859

$ 321,474

$ 300,827

Securities available for sale

22,434

23,303

26,920

Securities held to maturity

15,283

19,105

13,242

Other

2,706

3,652

3,266

Total interest, fee and dividend income

348,282

367,534

344,255

Interest expense

Deposits

22,070

39,986

22,144

Short-term borrowings

3,408

9,693

10,552

Long-term debt

1,553

1,875

1,790

Subordinated debt

2,842

Junior subordinated debt

2,731

4,425

4,140

Total interest expense

32,604

55,979

38,626

Net interest income

315,678

311,555

305,629

Provision for loan losses

^[1]

51,134

25,412

28,828

Net interest income after provision for loan losses

264,544

286,143

276,801

Noninterest income

Service charges on deposit accounts

13,201

17,151

17,224

ATM and debit card fees

25,960

23,893

22,699

Retirement plan administration fees

35,851

30,388

26,992

Wealth management

29,247

28,400

28,747

Insurance

14,757

15,770

15,122

Bank owned life insurance

5,743

5,355

5,091

Net securities (losses) gains

(388)

4,213

(6,341)

Other

21,905

18,853

15,228

Total noninterest income

146,276

144,023

124,762

Noninterest expense

Salaries and employee benefits

161,934

156,867

151,685

Occupancy

21,634

22,706

22,318

Data processing and communications

16,527

18,318

17,652

Professional fees and outside services

15,082

14,785

14,376

Equipment

19,889

18,583

17,037

Office supplies and postage

6,138

6,579

6,204

FDIC expenses

2,688

1,946

4,651

Advertising

2,288

2,773

2,782

Amortization of intangible assets

3,395

3,579

4,042

Loan collection and other real estate owned, net

3,295

4,158

4,217

Other

24,863

24,440

19,597

Total noninterest expense

277,733

274,734

264,561

Income before income tax expense

133,087

155,432

137,002

Income tax expense

28,699

34,411

24,436

Net income

$ 104,388

$ 121,021

$ 112,566

Earnings per share

Basic (in dollars per share)

$ 2.39

$ 2.76

$ 2.58

Diluted (in dollars per share)

$ 2.37

$ 2.74

$ 2.56

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 104,388	$ 121,021	$ 112,566
Securities available for sale:
Unrealized net holding gains (losses) arising during the period, gross	23,204	25,836	(11,985)
Tax effect	(5,800)	(6,459)	2,996
Unrealized net holding gains (losses) arising during the period, net	17,404	19,377	(8,989)
Reclassification adjustment for net (gains) losses in net income, gross	(3)	79	6,622
Tax effect	1	(20)	(1,655)
Reclassification adjustment for net (gains) losses in net income, net	(2)	59	4,967
Amortization of unrealized net gains for the reclassification of available for sale securities to held to maturity, gross	644	737	688
Tax effect	(161)	(184)	(172)
Amortization of unrealized net gains for the reclassification of available for sale securities to held to maturity, net	483	553	516
Total securities available for sale, net	17,885	19,989	(3,506)
Cash flow hedges:
Unrealized (losses) gains on derivatives (cash flow hedges), gross	(275)	(459)	1,218
Tax effect	69	115	(304)
Unrealized (losses) gains on derivatives (cash flow hedges), net	(206)	(344)	914
Reclassification of net unrealized losses (gains) on cash flow hedges to interest (income), gross	296	(2,012)	(2,300)
Tax effect	(74)	503	575
Reclassification of net unrealized losses (gains) on cash flow hedges to interest (income), net	222	(1,509)	(1,725)
Total cash flow hedges, net	16	(1,853)	(811)
Pension and other benefits:
Amortization of prior service cost and actuarial losses, gross	1,627	2,686	1,145
Tax effect	(407)	(672)	(286)
Amortization of prior service cost and actuarial losses, net	1,220	2,014	859
Decrease (increase) in unrecognized actuarial loss, gross	429	5,331	(12,457)
Tax effect	(107)	(1,333)	3,038
Decrease (increase) in unrecognized actuarial loss, net	322	3,998	(9,419)
Total pension and other benefits, net	1,542	6,012	(8,560)
Total other comprehensive income (loss)	19,443	24,148	(12,877)
Comprehensive income	$ 123,831	$ 145,169	$ 99,689

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in-Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Common Stock in Treasury [Member]	Total	Cumulative Effect Adjustment for ASU Implementation [Member] Common Stock [Member]	Cumulative Effect Adjustment for ASU Implementation [Member] Additional Paid-in-Capital [Member]	Cumulative Effect Adjustment for ASU Implementation [Member] Retained Earnings [Member]	Cumulative Effect Adjustment for ASU Implementation [Member] Accumulated Other Comprehensive (Loss) Income [Member]	Cumulative Effect Adjustment for ASU Implementation [Member] Common Stock in Treasury [Member]	Cumulative Effect Adjustment for ASU Implementation [Member]
Balance at Dec. 31, 2017	$ 497	$ 574,209	$ 543,713	$ (22,077)	$ (138,165)	$ 958,177
Balance (ASU 2016-01 [Member]) at Dec. 31, 2017							$ 0	$ 0	$ 2,618	$ (2,645)	$ 0	$ (27)
Balance (ASU 2018-02 [Member]) at Dec. 31, 2017							0	0	5,575	(5,575)	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	112,566	0	0	112,566
Cash dividends	0	0	(43,269)	0	0	(43,269)
Net issuance of shares to employee and other stock plans	0	(2,679)	0	0	2,082	(597)
Stock-based compensation	0	3,936	0	0	0	3,936
Other comprehensive income (loss)	0	0	0	(12,877)	0	(12,877)
Balance at Dec. 31, 2018	497	575,466	621,203	(43,174)	(136,083)	1,017,909
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	121,021	0	0	121,021
Cash dividends	0	0	(46,010)	0	0	(46,010)
Net issuance of shares to employee and other stock plans	0	(2,968)	0	0	2,087	(881)
Stock-based compensation	0	4,210	0	0	0	4,210
Other comprehensive income (loss)	0	0	0	24,148	0	24,148
Balance at Dec. 31, 2019	497	576,708	696,214	(19,026)	(133,996)	1,120,397
Balance (ASU 2016-13 [Member]) at Dec. 31, 2019							$ 0	$ 0	$ (4,339)	$ 0	$ 0	$ (4,339)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	104,388	0	0	104,388
Cash dividends	0	0	(47,207)	0	0	(47,207)
Purchase of treasury shares	0	0	0	0	(7,980)	(7,980)
Net issuance of shares to employee and other stock plans	0	(3,207)	0	0	1,542	(1,665)
Stock-based compensation	0	4,581	0	0	0	4,581
Other comprehensive income (loss)	0	0	0	19,443	0	19,443
Balance at Dec. 31, 2020	$ 497	$ 578,082	$ 749,056	$ 417	$ (140,434)	$ 1,187,618

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statements of Changes in Stockholders' Equity [Abstract]
Cash dividends - per share (in dollars per share)	$ 1.08	$ 1.05	$ 0.99
Purchase of treasury shares (in shares)	263,507
Net issuance of shares to employee benefit plans and other stock plans (in shares)	95,990	123,645	130,157

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Operating activities

Net income

$ 104,388

$ 121,021

$ 112,566

Adjustments to reconcile net income to net cash provided by operating activities

Provision for loan losses

^[1]

51,134

25,412

28,828

Depreciation and amortization of premises and equipment

9,772

9,497

9,280

Net amortization on securities

4,369

3,375

4,007

Amortization of intangible assets

3,395

3,579

4,042

Amortization of operating lease right-of-use assets

7,382

7,239

Excess tax benefit on stock-based compensation

(181)

(409)

(543)

Stock-based compensation expense

4,581

4,210

3,936

Bank owned life insurance income

(5,743)

(5,355)

(5,091)

Amortization of subordinated debt issuance costs

230

Proceeds from sale of loans held for sale

168,707

175,829

102,547

Originations of loans held for sale

(158,279)

(181,261)

(108,070)

Net gains on sales of loans held for sale

(1,989)

(786)

(286)

Net security losses (gains)

388

(4,213)

6,341

Net (gains) losses on sale of other real estate owned

(96)

227

(230)

Lease termination loss

4,284

1,872

Net change in other assets and other liabilities

(49,930)

(6,774)

(9,554)

Net cash provided by operating activities

142,412

153,463

147,773

Investing activities

Net cash used in acquisitions

(3,899)

(7,884)

Securities available for sale:

Proceeds from maturities, calls and principal paydowns

336,410

273,578

259,446

Proceeds from sales

26,203

101,315

Purchases

(689,932)

(252,963)

(132,448)

Securities held to maturity:

Proceeds from maturities, calls and principal paydowns

243,136

223,733

100,738

Proceeds from sales

996

Purchases

(230,951)

(70,660)

(400,602)

Equity securities:

Proceeds from calls

2,000

Proceeds from sales

3,966

3,318

Purchases

(93)

(2)

Other:

Net increase in loans

(378,765)

(272,698)

(331,166)

Proceeds from Federal Home Loan Bank stock redemption

63,305

182,752

246,844

Purchases of Federal Reserve Bank and Federal Home Loan Bank stock

(46,038)

(174,143)

(253,367)

Proceeds from settlement of bank owned life insurance

1,057

1,086

Purchases of premises and equipment, net

(8,157)

(6,647)

(7,402)

Proceeds from sales of other real estate owned

1,113

1,543

3,591

Net cash used in investing activities

(709,725)

(64,343)

(417,619)

Financing activities

Net increase in deposits

1,493,872

219,609

197,575

Net (decrease) increase in short-term borrowings

(486,889)

(216,421)

152,573

Proceeds from issuance of subordinated debt

100,000

Payment of subordinated debt issuance costs

(2,178)

Proceeds from issuance of long-term debt

10,598

25,000

Repayments of long-term debt

(25,114)

(20,111)

(40,145)

Proceeds from the issuance of shares to employee and other stock plans

184

725

1,296

Cash paid by employer for tax-withholding on stock issuance

(1,537)

(1,622)

(1,893)

Purchase of treasury stock

(7,980)

Cash dividends

(47,207)

(46,010)

(43,269)

Net cash provided by (used in) financing activities

1,023,151

(53,232)

291,137

Net increase in cash and cash equivalents

455,838

35,888

21,291

Cash and cash equivalents at beginning of year

216,843

180,955

159,664

Cash and cash equivalents at end of year

672,681

216,843

180,955

Cash paid during the year for:

Interest expense

31,692

55,908

36,691

Income taxes paid, net of refund

45,790

28,374

31,898

Noncash investing activities:

Loans transferred to other real estate owned

1,017

787

1,273

Acquisitions:

Fair value of assets acquired

$ 3,328

$ 0

$ 6,274

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

The accounting and reporting policies of NBT Bancorp Inc. (“NBT Bancorp”) and its subsidiaries, NBT Bank, National Association (“NBT Bank” or the “Bank”), NBT Financial Services, Inc. and NBT Holdings, Inc., conform, in all material respects, with generally accepted accounting principles in the United States of America (“GAAP”) and to general practices within the banking industry. Collectively, NBT Bancorp and its subsidiaries are referred to herein as (“the Company”).

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and such estimates could be material to the financial statements.

Estimates associated with the allowance for credit losses, provision for income taxes, pension accounting, fair values of financial instruments and status of contingencies are particularly susceptible to material change in the near term.

The following is a description of significant policies and practices:

Consolidation

The accompanying consolidated financial statements include the accounts of NBT Bancorp and its wholly-owned subsidiaries mentioned above. All material intercompany transactions have been eliminated in consolidation. Amounts previously reported in the consolidated financial statements are reclassified whenever necessary to conform to the current year’s presentation. In the “Parent Company Financial Information,” the investment in subsidiaries is recorded using the equity method of accounting.

The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity under GAAP. Voting interest entities are entities in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make decisions about the entity’s activities. The Company consolidates voting interest entities in which it has all, or at least a majority of, the voting interest. As defined in applicable accounting standards, variable interest entities (“VIEs”) are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when the Company has both the power and ability to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company’s wholly-owned subsidiaries CNBF Capital Trust I, NBT Statutory Trust I, NBT Statutory Trust II, Alliance Financial Capital Trust I and Alliance Financial Capital Trust II are VIEs for which the Company is not the primary beneficiary. Accordingly, the accounts of these entities are not included in the Company’s consolidated financial statements.

Segment Reporting

The Company’s operations are primarily in the community banking industry and include the provision of traditional banking services. The Company also provides other services through its subsidiaries such as insurance, retirement plan administration and trust administration. The Company operates solely in the geographical regions of central and upstate New York, northeastern Pennsylvania, western Massachusetts, southern New Hampshire, Vermont, the southern coastal Maine area and now entering central Connecticut. The Company has no reportable operating segments.

Cash Equivalents

The Company considers amounts due from correspondent banks, cash items in process of collection and institutional money market mutual funds to be cash equivalents for purposes of the consolidated statements of cash flows.

Securities

The Company classifies its securities at date of purchase as either held to maturity (“HTM”), available for sale (“AFS”) or equity. HTM debt securities are those that the Company has the ability and intent to hold until maturity. AFS debt securities are securities that are not classified as HTM. AFS securities are recorded at fair value. Unrealized holding gains and losses, net of the related tax effect, on AFS securities are excluded from earnings and are reported in the consolidated statements of changes in stockholders’ equity and the consolidated statements of comprehensive income as a component of accumulated other comprehensive income or loss (“AOCI”). HTM securities are recorded at amortized cost. Equity securities are recorded at fair value, with net unrealized gains and losses recognized in income. Transfers of securities between categories are recorded at fair value at the date of transfer. Non-marketable equity securities are carried at cost. Equity securities without readily determinable fair values are carried at cost. The Company performs a qualitative assessment to determine whether investments are impaired. Downward or upward adjustments are recognized through the income statement.

Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the interest method. Dividend and interest income are recognized when earned. Realized gains and losses on securities sold are derived using the specific identification method for determining the cost of securities sold.

Allowance for Credit Losses –HTM Debt Securities

With respect to its HTM debt securities, the Company is required to utilize the Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“CECL”) approach to estimate expected credit losses. Management measures expected credit losses on HTM debt securities on a collective basis by major security types that share similar risk characteristics, such as (as applicable): internal or external (third-party) credit score or credit ratings, risk ratings or classification, financial asset type, collateral type, size, effective interest rate, term, geographical location, industry of the borrower, vintage, historical or expected credit loss patterns, and reasonable and supportable forecast periods. Management classifies the HTM portfolio into the following major security types: U.S. government agency or U.S. government sponsored mortgage backed and collateralized mortgage obligations securities, and state and municipal debt securities.

The mortgage-backed and collateralized mortgage obligations HTM securities are issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government as to timely repayment of principal and interest, are highly rated by major rating agencies, and have a long history of no credit losses. Therefore, the Company did not record a credit loss for these securities.

State and municipal bonds carry a Moody’s rating of A to AAA. In addition, the Company has a limited amount of New York state local municipal bonds that are not rated. The estimate of expected credit losses on the HTM portfolio is based on the expected cash flows of each individual CUSIP over its contractual life and considers historical credit loss information, current conditions and reasonable and supportable forecasts. Given the rarity of municipal defaults and losses, the Company utilized Moody’s Municipal Loss Forecast Model as the sole source of municipal default and loss rates which provides decades of data across all municipal sectors and geographies. As with the loan portfolio, cash flows are forecast over a 6-quarter period under various weighted economic conditions, with a reversion to long-term average economic conditions over a 4-quarter period on a straight-line basis. Management may exercise discretion to make adjustments based on environmental factors. As of December 31, 2020, the Company determined that the expected credit loss on its municipal bond portfolio was de minimis, and therefore, an allowance for credit losses was not recorded.

Allowance for Credit Losses –AFS Debt Securities

The impairment model for AFS debt securities differs from the CECL approach utilized for HTM debt securities because AFS debt securities are measured at fair value rather than amortized cost. For AFS debt securities in an unrealized loss position, the Bank first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, in making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, adverse conditions specifically related to the security, failure of the issuer of the debt security to make scheduled interest or principal payments, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. The cash flows should be estimated using information relevant to the collectability of the security, including information about past events, current conditions and reasonable and supportable forecasts. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income.

Prior to the adoption of CECL on January 1, 2020, declines in the fair value of AFS and HTM securities below their amortized cost, less any current period credit loss, that are deemed to be other-than-temporary were reflected in earnings as realized losses, or in other comprehensive income (“OCI”).

Investments in Federal Reserve Bank and Federal Home Loan Bank (“FHLB”) stock are required for membership in those organizations and are carried at cost since there is no market value available. The FHLB New York continues to pay dividends and repurchase stock. As such, the Company has not recognized any impairment on its holdings of Federal Reserve Bank and FHLB stock.

Loan Held for Sale and Loan Servicing

Loans held for sale are recorded at the lower of cost or fair value on an individual basis. Loan sales are recorded when the sales are funded. Gains and losses on sales of loans held for sale are included in other noninterest income in the Consolidated Statements of Income. Mortgage loans held for sale are generally sold with servicing rights retained. Mortgage servicing rights are recorded at fair value upon sale of the loan, and are amortized in proportion to and over the period of estimated net servicing income.

Loans

Loans are recorded at their current unpaid principal balance, net of unearned income and unamortized loan fees and expenses, which are amortized under the effective interest method over the estimated lives of the loans. Interest income on loans is accrued based on the principal amount outstanding.

For all loan classes within the Company’s loan portfolio, loans are placed on nonaccrual status when timely collection of principal and/or interest in accordance with contractual terms is in doubt. Loans are transferred to nonaccrual status generally when principal or interest payments become ninety days delinquent, unless the loan is well secured and in the process of collection or sooner when management concludes circumstances indicate that borrowers may be unable to meet contractual principal or interest payments. When a loan is transferred to a nonaccrual status, all interest previously accrued in the current period but not collected is reversed against interest income in that period. Interest accrued in a prior period and not collected is charged-off against the allowance for credit losses.

If ultimate repayment of a nonaccrual loan is expected, any payments received are applied in accordance with contractual terms. If ultimate repayment of principal is not expected, any payment received on a nonaccrual loan is applied to principal until ultimate repayment becomes expected. For all loan classes within the Company’s loan portfolio, nonaccrual loans are returned to accrual status when they become current as to principal and interest and demonstrate a period of performance under the contractual terms and, in the opinion of management, are fully collectible as to principal and interest. For loans in all portfolios, the principal amount is charged off in full or in part as soon as management determines, based on available facts, that the collection of principal in full or in part is improbable. For Commercial loans, management considers specific facts and circumstances relative to individual credits in making such a determination. For Consumer and Residential Real Estate loan classes, management uses specific guidance and thresholds from the Federal Financial Institutions Examination Council’s Uniform Retail Credit Classification and Account Management Policy.

A loan is considered to be a troubled debt restructuring (“TDR”) when the Company grants a concession to the borrower because of the borrower’s financial condition that the Company would not otherwise consider. Such concessions generally include one or a combination of the following: an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; a temporary reduction in the interest rate; or a change in scheduled payment amount. TDR loans are nonaccrual loans; however, they can be returned to accrual status after a period of performance, generally evidenced by six months of compliance with their modified terms.

Section 4013 of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was enacted on March 27, 2020, provides that a qualified loan modification is exempt by law from classification as a troubled debt restructuring as defined by GAAP. To be eligible, each loan modification must be (1) related to the coronavirus (“COVID-19”) pandemic; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (a) 60 days after the date of termination of the National Emergency or (b) December 31, 2020. On August 3, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) issued a joint statement on additional loan accommodations related to COVID-19. The joint statement clarifies that for loan modifications in which Section 4013 is being applied, subsequent modifications could also be eligible under Section 4013. Accordingly, the Company is offering modifications made in response to COVID-19 to borrowers who were current and otherwise not past due in accordance with the criteria stated in Section 4013. These include short-term, 180 days or less, modifications in the form of payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment. Accordingly, the Company did not account for such loan modifications as TDRs. As of December 31, 2020, there were $110.8 million in loans in modification programs related to COVID-19. On December 27, 2020, the Consolidated Appropriations Act amended section 2014 of the CARES Act extending the exemption of qualified loan modifications from classification as a troubled debt restructuring as defined by GAAP to the earlier of January 1, 2022, or 60 days after the National Emergency concerning COVID-19 ends.

Allowance for Credit Losses - Loans

The CECL approach requires an estimate of the credit losses expected over the life of a loan (or pool of loans). It replaces the incurred loss approach’s threshold that required the recognition of a credit loss when it was probable a loss event was incurred. The allowance for credit losses is a valuation account that is deducted from, or added to, the loans’ amortized cost basis to present the net, lifetime amount expected to be collected on the loans. Loan losses are charged off against the allowance when management believes a loan balance is confirmed to be uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.

Management estimates the allowance balance using relevant available information, from internal and external sources, related to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Company historical loss experience was supplemented with peer information when there was insufficient loss data for the Company. Peer selection was based on a review of institutions with comparable loss experience as well as loan yield, bank size, portfolio concentration and geography. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level or term as well as changes in environmental conditions, such as changes in unemployment rates, production metrics, property values, or other relevant factors. Significant management judgment is required at each point in the measurement process.

Portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses. Upon adoption of CECL, management revised the manner in which loans were pooled for similar risk characteristics. Management developed segments for estimating loss based on type of borrower and collateral which is generally based upon federal call report segmentation and have been combined or subsegmented as needed to ensure loans of similar risk profiles are appropriately pooled.

The following table illustrates the portfolio and class segments for the Company’s loan portfolio in 2020:

Portfolio Segment	Class
Commercial Loans	Commercial & Industrial Paycheck Protection Program Commercial Real Estate
Consumer Loans	Auto Other Consumer
Residential Loans

Commercial Loans

The Company offers a variety of commercial loan products. The Company’s underwriting analysis for commercial loans typically includes credit verification, independent appraisals, a review of the borrower’s financial condition and a detailed analysis of the borrower’s underlying cash flows.

Commercial and Industrial (“C&I”) – The Company offers a variety of loan options to meet the specific needs of our C&I customers including term loans, time notes and lines of credit. Such loans are made available to businesses for working capital needs and are typically collateralized by business assets such as equipment, accounts receivable and perishable agricultural products, which are exposed to industry price volatility. To reduce these risks, management also attempts to obtain personal guarantees of the owners or to obtain government loan guarantees to provide further support.

Paycheck Protection Program (“PPP”) – Section 1102 of the CARES Ac) created the Paycheck Protection Program, a program administered by the Small Business Administration (the “SBA”) to provide loans to small businesses for payroll and other basic expenses during the COVID-19 pandemic. The Company has participated in the PPP as a lender. These loans are eligible to be forgiven if certain conditions are satisfied and are fully guaranteed by the SBA. Additionally, loan payments will also be deferred for six months of the loan. The PPP commenced on April 3, 2020 and was available to qualified borrowers through August 8, 2020, or as long as the appropriated funding was available. No collateral or personal guarantees are required. Neither the government nor lenders are permitted to charge the recipients any fees. The Company began accepting applications from qualified borrowers on April 3, 2020 and as of December 31, 2020 processed approximately 3,000 loans totaling over $548 million in relief. On December 27, 2020, President Trump signed into law the Consolidated Appropriation Act (“CAA”). The CAA, among other things, extends the life of the PPP, effectively creating a second round of PPP loans for eligible businesses. The Company is participating in the CAA’s second round of PPP lending beginning in January 2021.

Commercial Real Estate (“CRE”) – The Company offers CRE loans to finance real estate purchases, refinancing’s, expansions and improvements to commercial and agricultural properties. CRE loans are loans that are secured by liens on real estate, which may include both owner-occupied and nonowner-occupied properties, such as apartments, commercial structures, health care facilities and other facilities. The Company’s underwriting analysis includes credit verification, independent appraisals, a review of the borrower’s financial condition and a detailed analysis of the borrower’s underlying cash flows. These loans are typically originated in amounts of no more than 80% of the appraised value of the property. Government loan guarantees may be obtained to provide further support for agricultural property.

Consumer Loans

The Company offers a variety of Consumer loan products including Auto and Other Consumer loans.

Auto – The Company provides both direct and indirect financing of automobiles (“Auto”). The Company maintains relationships with many dealers primarily in the communities that we serve. Through these relationships, the Company primarily finances the purchases of automobiles indirectly through dealer relationships. Most of these loans carry a fixed rate of interest with principal repayment terms typically ranging from three to six years, based upon the nature of the collateral and the size of the loan.

Other Consumer – The Other Consumer loan segment consists primarily of specialty lending loans and direct consumer loans. The Company offers unsecured specialty lending consumer loans across a national footprint originated through our relationships with national technology-driven consumer lending companies to finance such things as dental and medical procedures, K-12 tuition, solar energy installations and other consumer purpose loans. Advances of credit through this specialty lending business line are subject to the Company’s underwriting standards including criteria such as FICO score and debt to income thresholds. The Company offers a variety of direct consumer installment loans to finance various personal expenditures. In addition to installment loans, the Company also offers personal lines of credit, overdraft protection, debt consolidation, education and other uses. Consumer installment loans carry a fixed rate of interest with principal repayment terms typically ranging from one to fifteen years, based upon the nature of the collateral and the size of the loan. Consumer installment loans are often secured with collateral consisting of a perfected lien on the asset being purchased or a perfected lien on a consumer’s deposit account. Risk is reduced through underwriting criteria, which include credit verification, appraisals, a review of the borrower’s financial condition and personal cash flows. A security interest, with title insurance when necessary, is taken in the underlying real estate.

Residential

Residential loans consist primarily of loans secured by a first or second mortgage on primary residences, home equity loans and lines of credit in first and second lien positions and residential construction loans. We originate adjustable-rate and fixed rate, one-to-four-family residential loans for the construction or purchase of a residential property or the refinancing of a mortgage. These loans are collateralized by properties located in the Company’s market area. Loans on one-to-four-family residential are generally originated in amounts of no more than 85% of the purchase price or appraised value (whichever is lower) or have private mortgage insurance. Mortgage title insurance and hazard insurance are normally required. Construction loans have a unique risk because they are secured by an incomplete dwelling. This risk is reduced through periodic site inspections, including one at each loan draw period. For home equity loans, consumers are able to borrow up to 85% of the equity in their homes and are generally tied to Prime with a ten-year draw followed by a fifteen-year amortization. These loans carry a higher risk than first mortgage residential loans as they are often in a second position with respect to collateral.

Historical credit loss experience for both the Company and segment-specific peers provides the basis for the estimation of expected credit losses, where observed credit losses are converted to probability of default rate (“PD”) curves through the use of segment-specific loss given default (“LGD”) risk factors that convert default rates to loss severity based on industry-level, observed relationships between the two variables for each asset class, primarily due to the nature of the underlying collateral. These risk factors were assessed for reasonableness against the Company’s own loss experience and adjusted in certain cases when the relationship between the Company’s historical default and loss severity deviate from that of the wider industry. The historical PDR curves, together with corresponding economic conditions, establish a quantitative relationship between economic conditions and loan performance through an economic cycle.

Using the historical relationship between economic conditions and loan performance, management’s expectation of future loan performance is incorporated using externally developed economic forecasts which are probabilistically weighted to reflect potential forecast inaccuracy and model limitations. These forecasts are applied over a period that management has determined to be reasonable and supportable. Beyond the period over which management can develop or source a reasonable and supportable forecast, the model will revert to long-term average economic conditions using a straight-line, time-based methodology.

The allowance for credit losses is measured on a collective (pool) basis, with both a quantitative and qualitative analysis that is applied on a quarterly basis, when similar risk characteristics exist. The respective quantitative allowance for each segment is measured using an econometric, discounted PD/LGD modeling methodology in which distinct, segment-specific multi-variate regression models are applied to multiple, probabilistically weighted external economic forecasts. Under the discounted cash flows methodology, expected credit losses are estimated over the effective life of the loans by measuring the difference between the net present value of modeled cash flows and amortized cost basis. Contractual cash flows over the contractual life of the loans are the basis for modeled cash flows, adjusted for modeled defaults and expected prepayments and discounted at the loan-level stated interest rate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a TDR will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company.

After quantitative considerations, management applies additional qualitative adjustments so that the allowance for credit loss is reflective of the estimate of lifetime losses that exist in the loan portfolio at the balance sheet date. Qualitative considerations include limitations inherent in the quantitative model; trends experienced in nonperforming and delinquent loans; changes in value of underlying collateral; changes in lending policies and procedures; nature and composition of loans; portfolio concentrations that may affect loss experience across one or more components of the portfolio; the experience, ability and depth of lending management and staff; the Company’s credit review system; and the effect of external factors; such as competition, legal and regulatory requirements.

Loans that do not share risk characteristics and meet materiality criteria are evaluated on an individual basis and are excluded from the pooled evaluation. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. If the loan is not collateral dependent, the allowance for credit losses related to individually assessed loans is based on discounted expected cash flows using the loan’s initial effective interest rate. Generally, individually assessed loans are collateral dependent.

A loan for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties is considered to be a TDR. The allowance for credit losses on a TDR is measured using the same method as all other loans held for investment, except that the original interest rate is used to discount the expected cash flows, not the rate specified within the restructuring.

Allowance for Credit Losses on Off-Balance Sheet Credit Exposures

The Company estimates expected credit losses over the contractual period in which the Company has exposure to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses on off-balance sheet credit exposures is adjusted as an expense in other noninterest expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over their estimated lives. Estimating credit losses on unfunded commitments requires the Bank to consider the following categories of off-balance sheet credit exposure: unfunded commitments to extend credit, unfunded lines of credit, and standby letters of credit. Each of these unfunded commitments is then analyzed for a probability of funding to calculate a probable funding amount. The life of loan loss factor by related portfolio segment from the loan allowance for credit loss calculation is then applied to the probable funding amount to calculate a reserve on unfunded commitments.

Accrued Interest Receivable

Upon adoption of CECL on January 1, 2020, the Company made the following elections regarding accrued interest receivable: (1) presented accrued interest receivable balances separately within other assets balance sheet line item; (2) excluded interest receivable that is included in amortized cost of financing receivables from related disclosures requirements and (3) continued our policy to write off accrued interest receivable by reversing interest income. For loans, write off typically occurs upon becoming over 90 to 120 days past due and therefore the amount of such write offs are immaterial. For loans given short-term loan modifications to assist borrowers during the COVID-19 national emergency, this accounting policy would not apply as the length of time between interest recognition and the write-off of uncollectible interest could exceed 120 days. Therefore, the Company estimated an allowance for credit losses for accrued interest receivable related to loans with short-term modifications due to the pandemic. Historically, the Company has not experienced uncollectible accrued interest receivable on investment securities.

Allowance for Loan Losses – Incurred Loss Method

Prior to the adoption of CECL on January 1, 2020, the Company calculated the allowance for loan losses using the incurred loss method whereby the allowance represented management’s estimate of probable incurred losses inherent in the current loan portfolio. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, additions and reductions of the allowance for loan losses may fluctuate from one reporting period to another based on changes in economic conditions or changes in the values of properties securing loans in the process of foreclosure. The evaluation of the various components of the allowance for loan losses requires considerable judgment in order to estimate inherent loss exposures.

Historical loss rates are first applied to pools of loans with similar risk characteristics. Each segment has a distinct set of risk characteristics monitored by management. Unique characteristics such as borrower type, loan type, collateral type and risk characteristics define each class segment. The Company further assess and monitor risk and performance at a more disaggregated level, which includes our internal risk grading system for the Commercial segments. Under the incurred loss method, the loan portfolio was segmented into the Commercial, Consumer and Residential Real Estate portfolio segments. The Commercial segment was further pooled into three classes: Commercial and Industrial, Commercial Real Estate and Business Banking. The Consumer segment was further pooled into three classes: Indirect Auto, Specialty Lending and Direct. Those segments were further segregated between our loans accounted for under the amortized cost method (referred to as “originated” loans) and loans acquired in a business combination (referred to as “acquired” loans).

Loss rates are calculated by historical charge-offs that have occurred within each pool of loans over the lookback period (“LBP”), multiplied by the loss emergence period (“LEP”). The LBP represents the historical data period utilized to calculate loss rates. The LEP is an estimate of the average amount of time from the point at which a loss is incurred on a loan to the point at which the loss is confirmed. In general, the LEP will be shorter in an economic slowdown or recession and longer during times of economic stability or growth, as customers are better able to delay loss confirmation after a potential loss event has occurred. In conjunction with our annual review of the allowance for loan loss assumptions, the Company updates our study of LEPs for each portfolio segment using our loan charge-off history.

After consideration of the historic loss analysis, management applies additional qualitative adjustments so that the allowance for loan losses is reflective of the estimate of incurred losses that exist in the loan portfolio at the balance sheet date. Qualitative adjustments are made if, in the judgment of management, incurred loan losses inherent in the loan portfolio are not fully captured in the historical loss analysis. Qualitative considerations include the loan portfolio trends, composition and nature of loans; changes in lending policies and procedures, including underwriting standards and collection, charge-offs and recoveries; trends experienced in nonperforming and delinquent loans; current economic conditions in the Company’s market; portfolio concentrations that may affect loss experience across one of more components of the portfolio; the effect of external factors such as competition, legal and regulatory requirements; and the experience, ability and depth of lending management and staff.

The allowance for loan losses related to impaired loans specifically allocated for impairment is based on discounted expected cash flows using the loan’s initial effective interest rate or the fair value of the collateral for certain loans where repayment of the loan is expected to be provided solely by the underlying collateral (“collateral dependent”). The Company’s impaired loans, if any, are generally collateral dependent. The Company considers the estimated cost to sell, on a discounted basis, when determining the fair value of collateral in the measurement of impairment if those costs are expected to reduce the cash flows available to repay or otherwise satisfy the loans.

After a thorough consideration and validation of the factors discussed above, required additions or reductions to the allowance for loan losses are made periodically by charges or credits to the provision for loan losses. These are necessary to maintain the allowance at a level which management believes is reasonably reflective of the level of incurred credit losses inherent in the portfolio. Loan losses are charged off against the allowance, while recoveries of amounts previously charged off are credited to the allowance.

Premises and Equipment

Premises and equipment are stated at cost, less accumulated depreciation. Depreciation of premises and equipment is determined using the straight-line method over the estimated useful lives of the respective assets. Expenditures for maintenance, repairs and minor replacements are charged to expense as incurred.

Leases

The Company determines if a lease is present at the inception of an agreement. Right-of-use (“ROU”) assets and lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the Company’s incremental borrowing rate at the lease commencement date. ROU assets and operating lease liabilities, are included in other assets and other liabilities, respectively, on the consolidated balance sheets. Leases with original terms of 12 months or less are recognized in profit or loss on a straight-line basis over the lease term.

Operating lease ROU assets represent the Company’s right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets are further adjusted for lease incentives. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in occupancy expense in the consolidated statements of income.

The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. For real estate leases, non-lease components and other non-components, such as common area maintenance charges, real estate taxes and insurance are not included in the measurement of the lease liability since they are generally able to be segregated. Our leases relate primarily to office space and bank branches, and some contain options to renew the lease. These options to renew are generally not considered reasonably certain to exercise, and are therefore not included in the lease term until such time that the option to renew is reasonably certain.

Other Real Estate Owned

Other real estate owned (“OREO”) consists of properties acquired through foreclosure or by acceptance of a deed in lieu of foreclosure. These assets are recorded at the lower of fair value of the asset acquired less estimated costs to sell or “cost” (defined as the fair value at initial foreclosure). At the time of foreclosure, or when foreclosure occurs in-substance, the excess, if any, of the loan over the fair market value of the assets received, less estimated selling costs, is charged to the allowance for loan losses and any subsequent valuation write-downs are charged to other expense. In connection with the determination of the allowance for loan losses and the valuation of OREO, management obtains appraisals for properties. Operating costs associated with the properties are charged to expense as incurred. Gains on the sale of OREO are included in income when title has passed and the sale has met the minimum down payment requirements prescribed by GAAP. The balance of OREO is recorded in other assets on the consolidated balance sheets.

Goodwill and Other Intangible Assets

Goodwill represents the cost of acquired business in excess of the fair value of the related net assets acquired. Goodwill is not amortized but tested at the reporting unit level for impairment on an annual basis and on an interim basis or when events or circumstances dictate. The Company has elected June 30 as the annual impairment testing date for the insurance and retirement services reporting units and December 31 for the Bank reporting unit.

The Company has the option to first assess qualitative factors, by performing a qualitative analysis, to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the events or circumstances, the Company determines it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, the impairment test is not required. If the Company concludes otherwise, the Company is required to perform a quantitative impairment test. In the quantitative impairment test, the estimated fair value of a reporting unit is compared to the carrying amount in order to determine if impairment is indicated. If the estimated fair value exceeds the carrying amount, the reporting unit is not deemed to be impaired. If the estimated fair value is below the carrying value of the reporting unit, the difference is the amount of impairment.

Intangible assets that have indefinite useful lives are not amortized, but are tested at least annually for impairment. Intangible assets that have finite useful lives are amortized over their useful lives. Core deposit intangibles and trust intangibles at the Company are amortized using the sum-of-the-years’-digits method. Covenants not to compete are amortized on a straight-line basis. Customer lists are amortized using an accelerated method. When facts and circumstances indicate potential impairment of amortizable intangible assets, the Company evaluates the recoverability of the asset carrying value, using estimates of undiscounted future cash flows over the remaining asset life. Any impairment loss is measured by the excess of carrying value over fair value.

Determining the fair value of a reporting unit under the goodwill impairment tests and determining the fair value of other intangible assets are judgmental and often involve the use of significant estimates and assumptions. Estimates of fair value are primarily determined using the discounted cash flows method, which uses significant estimates and assumptions including projected future cash flows, discount rates reflecting the market rate of return and projected growth rates. Future events may impact such estimates and assumptions and could cause the Company to conclude that our goodwill or intangible assets have become impaired, which would result in recording an impairment loss.

Bank-Owned Life Insurance

The Bank has purchased life insurance policies on certain employees, key executives and directors. Bank-owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.

Treasury Stock

Treasury stock acquisitions are recorded at cost. Subsequent sales of treasury stock are recorded on an average cost basis. Gains on the sale of treasury stock are credited to additional paid-in-capital. Losses on the sale of treasury stock are charged to additional paid-in-capital to the extent of previous gains, otherwise charged to retained earnings.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred income taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes interest accrued and penalties related to unrecognized tax benefits in income tax expense.

Tax positions are recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded.

Pension Costs

The Company has a qualified, noncontributory, defined benefit pension plan covering substantially all of its employees, as well as supplemental employee retirement plans to certain current and former executives and a defined benefit postretirement healthcare plan that covers certain employees. Costs associated with these plans, based on actuarial computations of current and future benefits for employees, are charged to current operating expenses.

Stock-Based Compensation

The Company maintains various long-term incentive stock benefit plans under which restricted stock units are granted to certain directors and key employees. Compensation expense are recognized in the consolidated statements of income over the requisite service period, based on the grant-date fair value of the award. For restricted stock units, compensation expense is recognized ratably over the vesting period for the fair value of the award, measured at the grant date.

Earnings Per Share

Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity (such as the Company’s dilutive stock options and restricted stock units).

Comprehensive Income

At the Company, comprehensive income represents net income plus OCI, which consists primarily of the net change in unrealized gains (losses) on AFS debt securities for the period, changes in the funded status of employee benefit plans and unrealized gains (losses) on derivatives designated as hedging instruments. AOCI represents the net unrealized gains (losses) on AFS debt securities, the previously unrecognized portion of the funded status of employee benefit plans and the fair value of instruments designated as hedging instruments, net of income taxes, as of the consolidated balance sheet dates.

Derivative Instruments and Hedging Activities

The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting.

For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. For derivatives designated as cash flow hedges, changes in fair value of the cash flow hedges are reported in OCI. When the cash flows associated with the hedged item are realized, the gain or loss included in OCI is recognized in the consolidated statements of income.

When the Company purchases or sells a portion of a commercial loan that has an existing interest rate swap, it may enter into a risk participation agreement to provide credit protection to the financial institution that originated the swap transaction should the borrower fail to perform on its obligation. The Company enters into both risk participation agreements in which it purchases credit protection from other financial institutions and those in which it provides credit protection to other financial institutions. Any fee paid to the Company under a risk participation agreement is in consideration of the credit risk of the counterparties and is recognized in the income statement. Credit risk on the risk participation agreements is determined after considering the risk rating, probability of default and loss given default of the counterparties.

Fair Value Measurements

GAAP states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value measurements are not adjusted for transaction costs. A fair value hierarchy exists within GAAP that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability;

Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).

A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The types of instruments valued based on quoted market prices in active markets include most U.S. government and agency securities, many other sovereign government obligations, liquid mortgage products, active listed equities and most money market securities. Such instruments are generally classified within Level 1 or Level 2 of the fair value hierarchy. The Company does not adjust the quoted price for such instruments.

Certain common equity securities are reported at fair value utilizing Level 1 inputs (exchange quoted prices). Other investment securities are reported at fair value utilizing Level 1 and Level 2 inputs. The prices for Level 2 instruments are obtained through an independent pricing service or dealer market participants with whom the Company has historically transacted both purchases and sales of investment securities. Prices obtained from these sources include prices derived from market quotations and matrix pricing. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Management reviews the methodologies used in pricing the securities by its third party providers.

Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions. Valuations are adjusted to reflect illiquidity and/or non-transferability and such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate will be used. Management’s best estimate consists of both internal and external support on certain Level 3 investments. Subsequent to inception, management only changes Level 3 inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending third-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalizations and other transactions across the capital structure, offerings in the equity or debt markets and changes in financial ratios or cash flows.

Other Financial Instruments

The Company is a party to certain instruments with off-balance-sheet risk such as commitments to extend credit, unused lines of credit, standby letter of credit and certain agricultural real estate loans sold to investors with recourse. The Company’s policy is to record such instruments when funded.

Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. The risk involved in issuing standby letters of credit is essentially the same as the credit risk involved in extending loan facilities to customers. Under the standby letters of credit, the Company is required to make payments to the beneficiary of the letters of credit upon request by the beneficiary contingent upon the customer’s failure to perform under the terms of the underlying contract with the beneficiary. Standby letters of credit typically have one year expirations with an option to renew upon annual review. The Company typically receives a fee for these transactions. The fair value of standby letters of credit is recorded upon inception.

Repurchase Agreements

Repurchase agreements are accounted for as secured financing transactions since the Company maintains effective control over the transferred securities and the transfer meets the other criteria for such accounting. Obligations to repurchase securities sold are reflected as a liability in the consolidated balance sheets. The securities underlying the agreements are delivered to a custodial account for the benefit of the counterparties with whom each transaction is executed. The counterparties, who may sell, loan or otherwise dispose of such securities to other parties in the normal course of their operations, agree to resell to the Company the same securities at the maturities of the agreements.

Revenue from Contracts with Customers

Effective January 1, 2018, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Accounting Standards Codification (“ASC”) Topic 606) (“ASC 606” and “ASU 2014-09”), and all subsequent ASUs that modified ASC 606. The implementation of ASC 606 did not have a material impact on the measurement or recognition of revenue; as such, a cumulative effect adjustment to opening retained earnings was not deemed necessary. ASC 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities and certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives and certain credit card fees are also not in scope. ASC 606 is applicable to noninterest revenue streams such as retirement plan administration fees, trust and asset management income, deposit related fees and annuity and insurance commissions; however, the recognition of these revenue streams did not change significantly upon adoption of ASC 606.

Service Charges on Deposit Accounts

Service charges on deposit accounts consist of overdraft fees, monthly service fees, check orders and other deposit account related fees. Overdraft, monthly service, check orders and other deposit account related fees are transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts.

ATM and Debit Card Fees

ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Debit card income is primarily comprised of interchange fees earned whenever the Company’s debit cards are processed through card payment networks. The Company’s performance obligations for these revenue streams are satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month.

Retirement Plan Administration Fees

Retirement plan administration fees are primarily generated for services related to the recordkeeping, administration and plan design solutions of defined benefit, defined contribution and revenue sharing plans. Revenue is recognized in arrears for services already provided in accordance with fees established in contracts with customers or based on rates agreed to with investment trade platforms based on ending investment balances held. The Company’s performance obligation is satisfied, and related revenue recognized based on services completed or ending investment balances, for which receivables are recorded at the time of revenue recognition.

Wealth Management

Wealth Management revenue primarily is comprised of trust and other financial services revenue. Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts, pensions and other customer assets. The Company’s performance obligation is generally satisfied with the resulting fees recognized monthly, based upon services completed or the month-end market value of the assets under management and the applicable fee rate. Payment is generally received shortly after services are rendered or a few days after month end through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. Financial services revenue primarily consists of commissions received on brokered investment product sales. For other financial services revenue, the Company’s performance obligation is generally satisfied upon the issuance of the annuity policy. Shortly after the policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. The Company does not earn a significant amount of trailing commission fees on brokered investment product sales. The majority of the trailing commission fees are calculated based on a percentage of market value of a period end and revenue is recognized when an investment product’s market value can be determined.

Insurance Revenue

Insurance and other financial services revenue primarily consists of commissions received on insurance. The Company acts as an intermediary between the Company’s customer and the insurance carrier. The Company’s performance obligation related to insurance sales for both property and casualty insurance and employee benefit plans is generally satisfied upon the later of the issuance or effective date of the policy. The Company earns performance based incentives, commonly known as contingency payments, which usually are based on certain criteria established by the insurance carrier such as premium volume, growth and insured loss ratios. Contingent payments are accrued for based upon management’s expectations for the year. Commission expense associated with sales of insurance products is expensed as incurred. The Company does not earn a significant amount of trailing commission fees on insurance product sales. The majority of the trailing commission fees are calculated based on a percentage of market value of a period end and revenue is recognized when an investment product’s market value can be determined.

Other

Other noninterest income consists of other recurring revenue streams such as account and loan fees, interest rate swap fees, safe deposit box rental fees and other miscellaneous revenue streams. These revenue streams are primarily transactional based and payment is received immediately or in the following month, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time.

The following table presents noninterest income, segregated by revenue streams in-scope and out-of-scope of ASC 606:

	Years Ended December 31,
(In thousands)	2020		2019		2018
Noninterest income
In-Scope of ASC 606:
Service charges on deposit accounts	$	13,201	$	17,151	$	17,224
ATM and debit card fees		25,960		23,893		22,699
Retirement plan administration fees		35,851		30,388		26,992
Wealth management		29,247		28,400		28,747
Insurance		14,757		15,770		15,122
Other		21,905		18,853		15,228
Total noninterest income in-scope of ASC 606	$	140,921	$	134,455	$	126,012
Total noninterest income out-of-scope of ASC 606	$	5,355	$	9,568	$	(1,250	)
Total noninterest income	$	146,276	$	144,023	$	124,762

Contract Balances

A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration or before payment is due, which would result in contract receivables or assets, respectively. A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment or for which payment is due from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances.

Contract Acquisition Costs

ASC 606 requires the capitalization, and subsequently amortization into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained. The Company elected the practical expedient, which allows immediate expensing of contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less, and did not capitalize any contract acquisition costs upon adoption of ASC 606 as of or during the year ended December 31, 2020.

Trust Operations

Assets held by the Company in a fiduciary or agency capacity for its customers are not included in the accompanying consolidated balance sheets, since such assets are not assets of the Company.

Subsequent Events

The Company has evaluated subsequent events for potential recognition and/or disclosure and there were none identified.

Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2020

Recent Accounting Pronouncements

2.	Recent Accounting Pronouncements

Recently Adopted Accounting Standards

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and all related subsequent amendments thereto. ASU 2016-13 introduces new guidance that make substantive changes to the accounting for credit losses. ASU 2016-13 introduces the CECL model, which applies to financial assets subject to credit losses and measured at amortized cost, as well as certain off-balance sheet credit exposures. This includes loans, loan commitments, standby letters of credit, net investments in leases recognized by a lessor and HTM debt securities. The CECL model requires an entity to estimate credit losses expected over the life of an exposure, considering information about historical events, current conditions and reasonable and supportable forecasts and is generally expected to result in earlier recognition of credit losses. ASU 2016-13 also modifies certain provisions of the current other-than-temporary impairment model for AFS debt securities. Credit losses on AFS debt securities will be limited to the difference between the security’s amortized cost basis and its fair value and will be recognized through an allowance for credit losses rather than as a direct reduction in amortized cost basis. ASU 2016-13 also provides for a simplified accounting model for purchased financial assets with more than insignificant credit deterioration since their origination. ASU 2016-13 requires expanded disclosures including, but not limited to, (1) information about the methods and assumptions used to estimate expected credit losses, including changes in the factors that influenced management’s estimate and the reasons for those changes, (2) financing receivables and net investment in leases measured at amortized cost, further disaggregation of information about the credit quality of those assets and (3) a rollforward of the allowance for credit losses for HTM and AFS securities. The standard also changes the accounting for purchased credit-impaired debt securities and loans. ASU 2016-13 was effective for the Company on January 1, 2020. Management expects that the CECL model may create more volatility in the level of our allowance for loan losses from quarter to quarter as changes in the level of allowance for loan losses will be dependent upon, among other things, macroeconomic forecasts and conditions, loan portfolio volumes and credit quality.

The Company adopted CECL on January 1, 2020 (“Day 1”) using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a net decrease to retained earnings of $4.3 million as of January 1, 2020 for the cumulative effect of adopting ASC 326. The transition adjustment includes a $3.0 million impact due to the allowance for credit losses on loans, a $2.8 million impact due to the allowance for credit losses on off-balance sheet credit exposure, and a $1.5 million impact to the deferred tax asset. The Company did not record an allowance for HTM debt securities on January 1, 2020 as the amount of credit risk was deemed immaterial. The Company did not record an allowance for credit losses on its AFS debt securities under the newly codified AFS debt security impairment model, as the majority of these securities are government agency-backed securities for which the risk of loss is minimal. Refer to Note 4 Securities and Note 6 Allowance for Credit Losses and Credit Quality of Loans to the Company’s consolidated financial statements included in this Form 10-K for more information.

In December 2018, the Office of Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (“FDIC”) approved a final rule to address changes to credit loss accounting under GAAP, including banking organizations’ implementation of CECL. The final rule provides banking organizations the option to phase in over a three-year period the day-one adverse effects on regulatory capital that may result from the adoption of the new accounting standard. In March 2020, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC announced an interim final rule to delay the estimated impact on regulatory capital stemming from the implementation of CECL. The interim final rule maintains the three-year transition option in the previous rule and provides banks the option to delay for two years an estimate of CECL’s effect on regulatory capital, relative to the incurred loss methodology’s effect on regulatory capital, followed by a three-year transition period (five-year transition option). The Company adopted the capital transition relief over the permissible five-year period.

On March 22, 2020, a statement was issued by the Company’s banking regulators and titled the “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus” that encourages financial institutions to work prudently with borrowers who are or may be unable to meet their contractual payment obligations due to the effects of the recent COVID-19 pandemic. Additionally, Section 4013 of the CARES Act, which was enacted on March 27, 2020, further provides that a qualified loan modification is exempt by law from classification as a troubled debt restructuring as defined by GAAP. To be eligible, each loan modification must be (1) related to the COVID-19 event; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (a) 60 days after the date of termination of the National Emergency or (b) December 31, 2020. On August 3, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) issued a joint statement on additional loan accommodations related to COVID-19. The joint statement clarifies that for loan modifications in which Section 4013 is being applied, subsequent modifications could also be eligible under Section 4013. Accordingly, the Company is offering modifications made in response to COVID-19 to borrowers who were current and otherwise not past due in accordance with the criteria stated in Section 4013. These include short-term, 180 days or less, modifications in the form of payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment. Accordingly, the Company did not account for such loan modifications as TDRs. As of December 31, 2020, there were $110.8 million in loans in modification programs related to COVID-19. On December 27, 2020, the Consolidated Appropriations Act amended section 2014 of the CARES Act extending the exemption of qualified loan modifications from classification as a troubled debt restructuring as defined by GAAP to the earlier of January 1, 2022, or 60 days after the National Emergency concerning COVID-19 ends.

In August 2018, the FASB issued ASU 2018-13, Fair value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair value Measurement. The provisions of ASU 2018-13 modify the disclosure requirements on fair value measurements in ASC 820. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. ASU 2018-13 is effective January 1, 2020. The adoption did not have a material impact on the consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) – Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. ASU 2018-15 amends existing guidance and requires a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize and which costs to expense. ASU 2018-15 is effective for the Company on January 1, 2020. The adoption did not have a material impact on the consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans - General (Subtopic 715-20), provides changes to the disclosure requirements for defined benefit plans. The amended guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amendments are a result of the disclosure framework project that focuses on improvements to the effectiveness of disclosures in the notes to financial statements. The amendments remove and add certain disclosure requirements. The disclosure requirements being removed relating to public companies are: (1) the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year, (2) the amount and timing of plan assets expected to be returned to the employer, (3) the 2001 disclosure requirement relating to Japanese Welfare Pension Insurance Law, (4) related party disclosures about the amount of future annual benefits covered by insurance, and (5) the effects of a one-percentage-point change in assumed health care cost trends on the benefit cost and obligation. The disclosure requirements being added relating to public companies are (1) the weighted-average interest crediting rates for cash balance plans, and (2) an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. ASU 2018-14 is effective for the Company on January 1, 2021 and early adoption is permitted. The Company adopted the provisions of ASU 2018-14 as of December 31, 2020 and it did not have a material impact on its disclosures to the consolidated financial statements.

Accounting Standards Issued Not Yet Adopted

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. On January 7, 2021, the FASB issued ASU 2021-01, which refines the scope of ASC 848 and clarifies some of its guidance. The ASU and related amendments provide temporary optional expedients and exceptions to the existing guidance for applying GAAP to affected contract modifications and hedge accounting relationships in the transition away from the London Interbank Offered Rate (“LIBOR”) or other interbank offered rate on financial reporting. The guidance also allows a one-time election to sell and/or reclassify to AFS or trading HTM debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective March 12, 2020 through December 31, 2022 and permits relief solely for reference rate reform actions and permits different elections over the effective date for legacy and new activity. The Company is evaluating the impact of adopting the new guidance on the consolidated financial statements and does not expect it will have a material impact on the consolidated financial statements.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU removes specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether the following apply in a given period: (1) exception to the incremental approach for intraperiod tax allocation; (2) exceptions to accounting for basis differences when there are ownership changes in foreign investments; and (3) exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. The ASU also improves financial statement preparers’ application of income tax-related guidance and simplifies GAAP for: (1) franchise taxes that are partially based on income; (2) transactions with a government that result in a step up in the tax basis of goodwill; (3) separate financial statements of legal entities that are not subject to tax; and (4) enacted changes in tax laws in interim periods. The amendments in this ASU are effective for the Company on January 1, 2021, and interim periods within those fiscal years. Early adoption is permitted. The adoption did not have a material impact on the consolidated financial statements and related disclosures.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=112272810&loc=SL108384541-122693

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (j)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI http://asc.fasb.org/extlink&oid=112272810&loc=d3e31137-122693

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)

Allowance for Credit Losses and Credit Quality of Loans [Abstract]

Acquisitions

12 Months Ended

Dec. 31, 2020

Acquisitions [Abstract]

Acquisitions

3.	Acquisitions

In 2020, the Company acquired Alliance Benefit Group of Illinois, Inc. for a total consideration of $9.1 million. As part of the acquisition, the Company recorded goodwill of $5.8 million and $5.1 million contingent consideration recorded in other liabilities on the consolidated balance sheet as of December 31, 2020.

In 2018, the Company acquired Retirement Plan Services, LLC for a total consideration of $13.0 million. As part of the acquisition, the Company recorded goodwill of $6.7 million and $5.1 million contingent consideration recorded in other liabilities on the consolidated balance sheet as of December 31, 2018.

The operating results of acquired companies are included in the consolidated results after the dates of acquisition.

Securities

12 Months Ended

Dec. 31, 2020

Securities [Abstract]

Securities

4.	Securities

The amortized cost, estimated fair value and unrealized gains (losses) of AFS securities are as follows:

(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
As of December 31, 2020
Federal agency	$	245,590	$	59	$	2,052	$	243,597
State & municipal		42,550		630		-		43,180
Mortgage-backed:
Government-sponsored enterprises		521,448		17,079		22		538,505
U.S. government agency securities		55,049		2,332		47		57,334
Collateralized mortgage obligations:
Government-sponsored enterprises		311,710		7,549		58		319,201
U.S. government agency securities		114,864		3,739		-		118,603
Corporate		27,500		778		-		28,278
Total AFS securities	$	1,318,711	$	32,166	$	2,179	$	1,348,698
As of December 31, 2019
Federal agency	$	34,998	$	3	$	243	$	34,758
State & municipal		2,533		-		20		2,513
Mortgage-backed:
Government-sponsored enterprises		453,614		4,982		239		458,357
U.S. government securities		44,758		667		156		45,269
Collateralized mortgage obligations:
Government-sponsored enterprises		328,499		1,949		467		329,981
U.S. government securities		104,152		718		408		104,462
Total AFS securities	$	968,554	$	8,319	$	1,533	$	975,340

There was no allowance for credit losses on AFS securities as of the year ending December 31, 2020.

The components of net realized gains (losses) on AFS securities are as follows. These amounts were reclassified out of AOCI and into earnings.

	Years Ended December 31,
(In thousands)	2020		2019			2018
Gross realized gains	$	3	$	73		$	-
Gross realized (losses)		-		(152	)		(6,622	)
Net AFS realized gains (losses)	$	3	$	(79	)	$	(6,622	)

Included in net realized gains (losses) on AFS securities, the Company recorded gains from calls of approximately $3 thousand for the year ended December 31, 2020, $25 thousand for the year ended December 31, 2019 and none for the year ended December 31, 2018.

The amortized cost, estimated fair value and unrealized gains (losses) of HTM securities are as follows:

(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
As of December 31, 2020
Federal agency	$	100,000	$	-	$	1,658	$	98,342
Mortgage-backed:
Government-sponsored enterprises		107,914		4,583		-		112,497
U.S. government agency securities		11,533		979		-		12,512
Collateralized mortgage obligations:
Government-sponsored enterprises		103,105		4,477		-		107,582
U.S. government agency securities		79,145		3,950		-		83,095
State & municipal		214,863		7,953		17		222,799
Total HTM securities	$	616,560	$	21,942	$	1,675	$	636,827
As of December 31, 2019
Mortgage-backed:
Government-sponsored enterprises	$	149,448	$	3,184	$	155	$	152,477
U.S. government agency securities		13,667		584		-		14,251
Collateralized mortgage obligations:
Government-sponsored enterprises		189,402		2,165		368		191,199
U.S. government agency securities		110,498		3,256		100		113,654
State & municipal		167,059		2,628		6		169,681
Total HTM securities	$	630,074	$	11,817	$	629	$	641,262

At December 31, 2020 and 2019, all of the mortgaged-backed HTM securities were comprised of U.S. government agency and Government-sponsored enterprises securities. There was no allowance for credit losses on HTM securities as of December 31, 2020.

Included in net realized gains (losses), the Company recorded gains from calls on HTM securities of approximately $24 thousand for the year ended December 31, 2020 and approximately $12 thousand for the year ended December 31, 2019. There were no recorded gains from calls on HTM securities included in the net realizes gains (losses) for the year ended December 31, 2018.

During the year ended December 31, 2020, the Company sold HTM securities with an amortized cost of $1.0 million and resulted in a realized loss of $1 thousand. Due to significant deterioration in the creditworthiness of the issuer of the HTM securities, the circumstances caused the Company to change its intent to hold the HTM securities sold to maturity, which did not affect the Company’s intent to hold the remainder of the HTM portfolio to maturity. There were no sales of HTM securities in the years ended December 31, 2019 and 2018.

AFS and HTM securities with amortized costs totaling $1.4 billion at December 31, 2020 and $1.3 billion at December 31, 2019 were pledged to secure public deposits and for other purposes required or permitted by law. Additionally, at December 31, 2020 and 2019, AFS and HTM securities with an amortized cost of $305.2 million and $189.8 million, respectively, were pledged as collateral for securities sold under repurchase agreements.

The following tables set forth information with regard to gains and (losses) on equity securities:

	Years Ended December 31,
(In thousands)	2020			2019
Net (losses) and gains recognized on equity securities	$	(414	)	$	4,280
Less: Net gains recognized during the period on equity securities sold during the period		-			3,966
Unrealized (losses) and gains recognized on equity securities still held	$	(414	)	$	314

Included in the net realized gains and (losses) recognized on equity securities during the year ended December 31, 2019, the Company recorded a $4.0 million gain from the sale of Visa Class B common stock, which had no readily determinable fair value at the time of the sale. As of December 31, 2020 and 2019 the carrying value of equity securities without readily determinable fair values was $2.0 million and $4.0 million, respectively. The Company performed a qualitative assessment to determine whether the investments were impaired and identified no areas of concern as of December 31, 2020 and 2019. There were no impairments, downward or upward adjustments recognized for equity securities without readily determinable fair values during the years ended December 31, 2020 and 2019.

The following tables set forth information with regard to contractual maturities of debt securities at December 31, 2020:

(In thousands)	Amortized Cost		Estimated Fair Value
AFS debt securities:
Within one year	$	438	$	449
From one to five years		21,476		22,324
From five to ten years		545,330		551,215
After ten years		751,467		774,710
Total AFS debt securities	$	1,318,711	$	1,348,698
HTM debt securities:
Within one year	$	18,088	$	18,104
From one to five years		58,963		60,483
From five to ten years		231,927		237,275
After ten years		307,582		320,965
Total HTM debt securities	$	616,560	$	636,827

Maturities of mortgage-backed, collateralized mortgage obligations and asset-backed securities are stated based on their estimated average lives. Actual maturities may differ from estimated average lives or contractual maturities because, in certain cases, borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

Except for U.S. Government securities and Government-sponsored enterprises securities, there were no holdings, when taken in the aggregate, of any single issuer that exceeded 10% of consolidated stockholders’ equity at December 31, 2020 and 2019.

The following table sets forth information with regard to investment securities with unrealized losses, for which an allowance for credit losses has not been recorded at December 31, 2020, segregated according to the length of time the securities had been in a continuous unrealized loss position:

	Less Than 12 Months							12 Months or Longer							Total
(In thousands)	Fair Value		Unrealized Losses			Number of Positions		Fair Value		Unrealized Losses			Number of Positions		Fair Value		Unrealized Losses			Number of Positions
As of December 31, 2020
AFS securities:
Federal agency	$	148,537	$	(2,052	)		10	$	-	$	-			-	$	148,537	$	(2,052	)		10
Mortgage-backed		47,269		(60	)		3		800		(9	)		4		48,069		(69	)		7
Collateralized mortgage obligations		17,837		(58	)		6		-		-			-		17,837		(58	)		6
Total securities with unrealized losses	$	213,643	$	(2,170	)		19	$	800	$	(9	)		4	$	214,443	$	(2,179	)		23

HTM securities:
Federal agency	$	98,342	$	(1,658	)		4	$	-	$	-			-	$	98,342	$	(1,658	)		4
State & municipal		4,805		(17	)		5		-		-			-		4,805		(17	)		5
Total securities with unrealized losses	$	103,147	$	(1,675	)		9	$	-	$	-			-	$	103,147	$	(1,675	)		9

As of December 31, 2019
AFS securities:
Federal agency	$	14,891	$	(109	)		2	$	9,866	$	(134	)		1	$	24,757	$	(243	)		3
State & municipal		2,503		(20	)		1		-		-			-		2,503		(20	)		1
Mortgage-backed		67,986		(273	)		21		37,745		(122	)		16		105,731		(395	)		37
Collateralized mortgage obligations		113,121		(316	)		24		49,632		(559	)		17		162,753		(875	)		41
Total securities with unrealized losses	$	198,501	$	(718	)		48	$	97,243	$	(815	)		34	$	295,744	$	(1,533	)		82

HTM securities:
Mortgage-backed	$	-	$	-			-	$	25,370	$	(155	)		2	$	25,370	$	(155	)		2
Collateralized mortgage obligations		18,040		(181	)		3		22,389		(287	)		5		40,429		(468	)		8
State & municipal		2,257		(6	)		4		-		-			-		2,257		(6	)		4
Total securities with unrealized losses	$	20,297	$	(187	)		7	$	47,759	$	(442	)		7	$	68,056	$	(629	)		14

The Company does not believe the AFS securities that were in an unrealized loss position as of December 31, 2020, which consisted of 23 individual securities, represented a credit loss impairment. AFS debt securities in unrealized loss positions are evaluated for impairment related to credit losses at least quarterly. As of December 31, 2020, the majority of the AFS securities in an unrealized loss position consisted of debt securities issued by U.S. government agencies or U.S. government-sponsored enterprises that carry the explicit and/or implicit guarantee of the U.S. government, which are widely recognized as “risk-free” and have a long history of zero credit losses. Total gross unrealized losses were primarily attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. The Company does not intend to sell, nor is it more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, which may be at maturity. The Company elected to exclude accrued interest receivable (“AIR”) from the amortized cost basis of debt securities disclosed throughout this footnote. AIR on AFS debt securities totaled $3.3 million at December 31, 2020 and is excluded from the estimate of credit losses and reported in the financial statement line for other assets.

None of the bank’s HTM debt securities were past due or on nonaccrual status as of the year ended December 31, 2020. There was no accrued interest reversed against interest income for the year ended December 31, 2020 as all securities remained on accrual status. In addition, there were no collateral dependent HTM debt securities as of year ended December 31, 2020. 65% of the Company’s HTM debt securities are issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk-free,” and have a long history of zero credit loss. Therefore, the Company did not record an allowance for credit losses for these securities as of December 31, 2020. The remaining HTM debt securities at December 31, 2020 were comprised of state and municipal obligations with bond ratings of A to AAA. Utilizing the CECL approach, the Company determined that the expected credit loss on its HTM municipal bond portfolio was immaterial and therefore no allowance for credit loss was recorded as of December 31, 2020. AIR on HTM debt securities totaled $2.7 million at December 31, 2020 and is excluded from the estimate of credit losses and reported in the financial statement line for other assets.

Loans

12 Months Ended

Dec. 31, 2020

Loans [Abstract]

Loans

5. Loans

A summary of loans, net of deferred fees and origination costs, by category is as follows:

	At December 31,
(In thousands)	2020		2019
Commercial	$	1,267,679	$	1,302,209
Commercial Real Estate		2,380,358		2,142,057
Paycheck Protection Program		430,810		-
Residential Real Estate		1,466,662		1,445,156
Indirect Auto		931,286		1,193,635
Specialty Lending		579,644		542,063
Home Equity		387,974		444,082
Other Consumer		54,472		66,896
Total loans	$	7,498,885	$	7,136,098

Included in the above loans are net deferred loan origination costs totaling $9.4 million and $35.3 million at December 31, 2020 and 2019, respectively. The Company had $1.1 million residential loans held for sale as of December 31, 2020. The Company had $11.5 million of residential loans held for sale as of December 31, 2019.

The total amount of loans serviced by the Company for unrelated third parties was $614.5 million and $612.3 million at December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, the Company had $1.3 million and $0.8 million, respectively, of mortgage servicing rights.

At December 31, 2020 and 2019, the Company serviced $25.7 million and $25.6 million, respectively, of agricultural loans sold with recourse. Due to sufficient collateral on these loans and government guarantees, no reserve is considered necessary at December 31, 2020 and 2019.

FHLB advances are collateralized by a blanket lien on the Company’s residential real estate mortgages.

In the ordinary course of business, the Company has made loans at prevailing rates and terms to directors, officers and other related parties. Such loans, in management’s opinion, do not present more than the normal risk of collectability or incorporate other unfavorable features. The aggregate amount of loans outstanding to qualifying related parties and changes during the years are summarized as follows:

(In thousands)	2020			2019
Balance at January 1	$	2,166		$	1,638
New loans		1,524			587
Adjustment due to change in composition of related parties		2,448			389
Repayments		(202	)		(448	)
Balance at December 31	$	5,936		$	2,166

Allowance for Credit Losses and Credit Quality of Loans

12 Months Ended

Dec. 31, 2020

Allowance for Credit Losses and Credit Quality of Loans

6. Allowance for Credit Losses and Credit Quality of Loans

As previously mentioned in Note 1 Summary of Significant Accounting Policies, the Company’s January 1, 2020 adoption of CECL resulted in a significant change to our methodology for estimating the allowance for credit losses since December 31, 2019. Portfolio segmentation has been redefined under CECL and therefore prior year tables are presented separately.

The Day 1 increase in the allowance for credit loss on loans relating to adoption of ASU 2016-13 was $3.0 million, which decreased retained earnings by $2.3 million and increased the deferred tax asset by $0.7 million.

There were no loans purchased with credit deterioration during the year ended December 31, 2020. During 2020, the Company purchased $51.9 million of consumer loans at a 1% discount. The allowance for credit losses recorded for these loans on the purchase date was $3.6 million. The Company made a policy election to report AIR in the other assets line item on the balance sheet. AIR on loans totaled $23.7 million at December 31, 2020 and was included in the allowance for loan credit losses to estimate the impact of accrued interest receivable related to loans with modifications due to the pandemic as the length of time between interest recognition and the write-off of uncollectible interest could exceed 120 days, exempting these loans from our policy election for accrued interest receivable. The estimated allowance for credit losses related to AIR at December 31, 2020 was $0.6 million.

The Day 1 and December 31, 2020 allowance for credit losses calculation incorporated a 6-quarter forecast period to account for forecast economic conditions under each scenario utilized in the measurement. For periods beyond the 6-quarter forecast, the model reverted to long-term economic conditions over a 4-quarter reversion period on a straight-line basis.

The quantitative model as of December 31, 2020 incorporated a baseline economic outlook, along with alternative upside and downside scenarios sourced from a reputable third-party to accommodate other potential economic conditions in the model. The baseline outlook reflected an unemployment rate environment above pre-COVID-19 levels for the entire forecast period, though steadily improving, before returning to low single digits by the end of 2023. Northeast GDP’s annual growth was expected to start 2021 in the low to mid-single digits, with a peak growth rate of 8% in the fourth quarter of 2021 and steadily falling back down to normalized levels through 2023 and 2024. Other utilized economic variables show improvement in their respective forecasts, namely business output. Key assumptions in the baseline economic outlook included an additional stimulus package passed at the same timing and a comparable level to that of the actual $900 billion COVID-19 relief package passed in December 2020 along with no significant secondary surge in COVID-19 cases or pandemic-related business closures. The alternative downside scenario assumed deteriorated economic and epidemiological conditions from the baseline outlook. In the same way, the alternative upside scenario assumed a faster economic recovery and more effective management of the COVID-19 virus from the baseline outlook. These scenarios and their respective weightings are evaluated at each measurement date and reflect management’s expectations as of December 31, 2020. Additional adjustments were made for COVID-19 related factors not incorporated in the forecasts, such as the mitigating impact of unprecedented stimulus in 2020, including direct payments to individuals, increased unemployment benefits, the Company’s loan deferral and modification initiatives and various government-sponsored loan programs. The commercial & industrial and consumer segment models were based upon percent change in unemployment with modeled values as of December 31, 2020 well outside the observed historical experience. Therefore, adjustments were required to produce outputs more aligned with default expectations given the forecast economic environment. Additionally, the Company identified a slightly higher level of criticized and classified loans during 2020 than those contemplated by the model during similar economic conditions in the past for which an adjustment was made for estimated expected additional losses above modeled output. These factors were considered through a separate quantitative process and incorporated into the estimate for allowance for credit losses at December 31, 2020.

The allowance for credit losses totaled $110.0 million at December 31, 2020, compared to $73.0 million at December 31, 2019. The allowance for credit losses as a percentage of loans was 1.47% at December 31, 2020, compared to 1.02% at December 31, 2019. The increase in the allowance for credit losses from January 1, 2020 to December 31, 2020 was primarily due to the deteriorated economic forecast due to the COVID-19 pandemic.

The provision for loan losses was $51.1 million for the twelve months ended December 31, 2020, compared to $25.4 million for the twelve months ended December 31, 2019. The increase to provision expense was driven by the deteriorated economic forecast due to the COVID-19 pandemic. The Company expects that with the adoption of CECL beginning on January 1, 2020, provision expense may become more volatile due to changes in CECL model assumptions of credit quality, macroeconomic factors and conditions, and loan composition, which drive the allowance for credit losses balance.

The following table illustrate the changes in the allowance for credit losses by our portfolio segments:

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of January 1, 2020 (after adoption of ASC 326)	$	27,156		$	32,122		$	16,721		$	75,999
Charge-offs		(4,005	)		(21,938	)		(1,135	)		(27,078	)
Recoveries		786			8,541			618			9,945
Provision		27,005			19,078			5,051			51,134
Ending Balance as of December 31, 2020	$	50,942		$	37,803		$	21,255		$	110,000

The increase in the allowance for credit losses from Day 1 to December 31, 2020 was primarily due to the deterioration of macroeconomic factors surrounding the COVID-19 pandemic.

Individually Evaluated Loans

As of December 31, 2020, there were five relationships identified to be evaluated for loss on an individual basis which had an amortized cost basis of $15.2 million. The allowance for credit loss was $3.2 million and was determined by an estimate of the fair value of the collateral which consisted of business assets (accounts receivable, inventory and machinery, real estate and equipment). As of Day 1, there were no relationships identified to be evaluated for loss on an individual basis.

The following table sets forth information with regard to past due and nonperforming loans by loan segment:

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of December 31, 2020
Commercial Loans:
C&I	$	2,235	$	2,394	$	23	$	4,652	$	4,278	$	1,116,686	$	1,125,616
CRE		682		-		470		1,152		19,971		2,391,162		2,412,285
PPP		-		-		-		-		-		430,810		430,810
Total Commercial Loans	$	2,917	$	2,394	$	493	$	5,804	$	24,249	$	3,938,658	$	3,968,711
Consumer Loans:
Auto	$	9,125	$	1,553	$	866	$	11,544	$	2,730	$	877,831	$	892,105
Other Consumer		3,711		1,929		1,272		6,912		290		640,952		648,154
Total Consumer Loans	$	12,836	$	3,482	$	2,138	$	18,456	$	3,020	$	1,518,783	$	1,540,259
Residential	$	2,719	$	309	$	518	$	3,546	$	17,378	$	1,968,991	$	1,989,915
Total Loans	$	18,472	$	6,185	$	3,149	$	27,806	$	44,647	$	7,426,432	$	7,498,885

As of December 31, 2020, there were no loans in nonaccrual without an allowance for credit losses.

Credit Quality Indicators

The Company has developed an internal loan grading system to evaluate and quantify the Company’s loan portfolio with respect to quality and risk. The system focuses on, among other things, financial strength of borrowers, experience and depth of borrower’s management, primary and secondary sources of repayment, payment history, nature of the business and outlook on particular industries. The internal grading system enables the Company to monitor the quality of the entire loan portfolio on a consistent basis and provide management with an early warning system, enabling recognition and response to problem loans and potential problem loans.

Commercial Grading System

For C&I, PPP and CRE loans, the Company uses a grading system that relies on quantifiable and measurable characteristics when available. This includes comparison of financial strength to available industry averages, comparison of transaction factors (loan terms and conditions) to loan policy and comparison of credit history to stated repayment terms and industry averages. Some grading factors are necessarily more subjective such as economic and industry factors, regulatory environment and management. C&I and CRE loans are graded Doubtful, Substandard, Special Mention and Pass. The increase in non-pass credits from December 31, 2019 was primarily due to the Company’s proactive approach to downgrade loans that were both in payment deferral due to the COVID-19 pandemic and in higher risk industries such as entertainment, restaurants, retail, healthcare and accommodations.

Doubtful

A Doubtful loan has a high probability of total or substantial loss, but because of specific pending events that may strengthen the asset, its classification as a loss is deferred. Doubtful borrowers are usually in default, lack adequate liquidity or capital and lack the resources necessary to remain an operating entity. Pending events can include mergers, acquisitions, liquidations, capital injections, the perfection of liens on additional collateral, the valuation of collateral and refinancing. Generally, pending events should be resolved within a relatively short period and the ratings will be adjusted based on the new information. Nonaccrual treatment is required for Doubtful assets because of the high probability of loss.

Substandard

Substandard loans have a high probability of payment default or they have other well-defined weaknesses. They require more intensive supervision by bank management. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity or marginal capitalization. Repayment may depend on collateral or other credit risk mitigants. For some Substandard loans, the likelihood of full collection of interest and principal may be in doubt and those loans should be placed on nonaccrual. Although Substandard assets in the aggregate will have a distinct potential for loss, an individual asset’s loss potential does not have to be distinct for the asset to be rated Substandard.

Special Mention

Special Mention loans have potential weaknesses that may, if not checked or corrected, weaken the asset or inadequately protect the Company’s position at some future date. These loans pose elevated risk, but their weakness does not yet justify a Substandard classification. Borrowers may be experiencing adverse operating trends (i.e., declining revenues or margins) or may be struggling with an ill-proportioned balance sheet (i.e., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a Special Mention rating. Although a Special Mention loan has a higher probability of default than a Pass asset, its default is not imminent.

Pass

Loans graded as Pass encompass all loans not graded as Doubtful, Substandard or Special Mention. Pass loans are in compliance with loan covenants and payments are generally made as agreed. Pass loans range from superior quality to fair quality. Pass loans also include any portion of a government guaranteed loan, including PPP loans.

Consumer and Residential Grading System

Consumer and Residential loans are graded as either Nonperforming or Performing.

Nonperforming

Nonperforming loans are loans that are 1) over 90 days past due and interest is still accruing or 2) on nonaccrual status.

Performing

All loans not meeting any of the above criteria are considered Performing.

The following tables illustrate the Company’s credit quality by loan class by vintage as of December 31, 2020:

(In thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
C&I
By Internally Assigned Grade:
Pass	$	331,921	$	182,329	$	91,230	$	41,856	$	32,625	$	32,609	$	322,674	$	412	$	1,035,656
Special Mention		20,064		6,534		5,053		4,702		1,624		2,830		13,614		-		54,421
Substandard		338		6,364		10,219		3,388		791		4,272		9,945		14		35,331
Doubtful		-		-		-		207		-		1		-		-		208
Total C&I	$	352,323	$	195,227	$	106,502	$	50,153	$	35,040	$	39,712	$	346,233	$	426	$	1,125,616

CRE
By Internally Assigned Grade:
Pass	$	469,919	$	361,187	$	256,154	$	271,874	$	212,197	$	383,690	$	113,128	$	4,034	$	2,072,183
Special Mention		2,051		44,034		22,260		55,039		36,830		43,537		1,297		11,524		216,572
Substandard		536		5,307		18,298		15,691		6,018		62,168		1,501		4,642		114,161
Doubtful		-		1,897		-		-		-		7,472		-		-		9,369
Total CRE	$	472,506	$	412,425	$	296,712	$	342,604	$	255,045	$	496,867	$	115,926	$	20,200	$	2,412,285

PPP
By Internally Assigned Grade:
Pass	$	430,810	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	430,810
Total PPP	$	430,810	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	430,810

Auto
By Payment Activity:
Performing	$	197,881	$	314,034	$	201,850	$	115,977	$	45,495	$	13,250	$	22	$	-	$	888,509
Nonperforming		359		1,140		1,135		525		437		-		-		-		3,596
Total Auto	$	198,240	$	315,174	$	202,985	$	116,502	$	45,932	$	13,250	$	22	$	-	$	892,105

Other Consumer
By Payment Activity:
Performing	$	234,628	$	178,411	$	127,549	$	55,676	$	14,255	$	17,414	$	18,588	$	71	$	646,592
Nonperforming		339		418		307		265		90		133		10		-		1,562
Total Other Consumer	$	234,967	$	178,829	$	127,856	$	55,941	$	14,345	$	17,547	$	18,598	$	71	$	648,154

Residential
By Payment Activity:
Performing	$	237,338	$	210,505	$	213,437	$	182,993	$	164,424	$	684,495	$	268,878	$	9,991	$	1,972,061
Nonperforming		1,245		659		2,318		2,535		902		10,195		-		-		17,854
Total Residential	$	238,583	$	211,164	$	215,755	$	185,528	$	165,326	$	694,690	$	268,878	$	9,991	$	1,989,915

Total Loans	$	1,927,429	$	1,312,819	$	949,810	$	750,728	$	515,688	$	1,262,066	$	749,657	$	30,688	$	7,498,885

Allowance for Credit Losses on Off-Balance Sheet Credit Exposures

As of December 31, 2020, the allowance for losses on unfunded commitments totaled $6.4 million, compared to $0.9 million as of December 31, 2019. Prior to January 1, 2020, the Company calculated the allowance for losses on unfunded commitments using the incurred loss methodology.

Troubled Debt Restructuring

When the Company modifies a loan in a troubled debt restructuring, such modifications generally include one or a combination of the following: an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; temporary reduction in the interest rate; or change in scheduled payment amount. Residential and Consumer TDRs occurring during 2020 were due to the reduction in the interest rate or extension of the term.

An allowance for impaired commercial and consumer loans that have been modified in a TDR is measured based on the present value of the expected future cash flows, discounted at the contractual interest rate of the original loan agreement, except when the sole (remaining) source of repayment for the loan is the operation or liquidation of the collateral. In these cases, management uses the current fair value of the collateral, less selling costs. If management determines that the value of the modified loan is less than the recorded investment in the loan an impairment charge would be recorded.

The Company began offering loan modifications to assist borrowers during the COVID-19 national emergency. The CARES Act, along with a joint agency statement issued by banking regulatory agencies, provides that modifications made in response to COVID-19 do not need to be accounted for as a TDR. The Company evaluated the modification programs provided to its borrowers and has concluded the modifications were generally made in accordance with the CARES Act guidance to borrowers who were in good standing prior to the COVID-19 pandemic and are not required to be designated as TDRs. See Note 2 Recent Accounting Pronouncements for more information.

The following tables illustrate the recorded investment and number of modifications designated as TDRs, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring:

	Year Ended December 31, 2020
(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial Loans:
C&I		1	$	22	$	22
Total Commercial Loans		1	$	22	$	22
Consumer Loans:
Auto		1	$	44	$	44
Total Consumer Loans		1	$	44	$	44
Residential		35	$	2,834	$	2,960
Total Troubled Debt Restructurings		37	$	2,900	$	3,026

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the year:

	Year Ended December 31, 2020
(Dollars in thousands)	Number of Contracts		Recorded Investment
Commercial Loans:
C&I		1	$	387
CRE		1		168
Total Commercial Loans		2	$	555
Consumer Loans:
Auto		1	$	6
Total Consumer Loans		1	$	6
Residential		61	$	3,213
Total Trouble Debt Restructurings		64	$	3,774

Allowance for Loan Losses

Prior to the adoption of ASU 2016-13 on January 1, 2020, the Company’s calculated allowance for loan losses under the incurred loss methodology. The following tables are disclosures related to the allowance for loan losses in prior periods.

The following tables illustrate the changes in the allowance for loan losses by our portfolio segments:

(In thousands)	Commercial Loans			Consumer Loans			Residential Real Estate			Total
Balance as of December 31, 2018	$	32,759		$	37,178		$	2,568		$	72,505
Charge-offs		(3,151	)		(28,398	)		(991	)		(32,540	)
Recoveries		534			6,913			141			7,588
Provision		4,383			19,954			1,075			25,412
Ending Balance as of December 31, 2019	$	34,525		$	35,647		$	2,793		$	72,965

Balance as of December 31, 2017	$	27,606		$	36,830		$	5,064		$	69,500
Charge-offs		(3,463	)		(29,752	)		(913	)		(34,128	)
Recoveries		1,178			6,821			306			8,305
Provision		7,438			23,279			(1,889	)		28,828
Ending Balance as of December 31, 2018	$	32,759		$	37,178		$	2,568		$	72,505

The following table illustrates the allowance for loan losses and the recorded investment by portfolio segments:

(In thousands)	Commercial Loans		Consumer Loans		Residential Real Estate		Total
As of December 31, 2019
Allowance for loan losses	$	34,525	$	35,647	$	2,793	$	72,965
Allowance for loans individually evaluated for impairment		-		-		-		-
Allowance for loans collectively evaluated for impairment	$	34,525	$	35,647	$	2,793	$	72,965
Ending balance of loans	$	3,444,266	$	2,246,676	$	1,445,156	$	7,136,098
Ending balance of originated loans individually evaluated for impairment		3,488		7,044		7,721		18,253
Ending balance of acquired loans collectively evaluated for impairment		115,266		23,733		125,879		264,878
Ending balance of originated loans collectively evaluated for impairment	$	3,325,512	$	2,215,899	$	1,311,556	$	6,852,967

The following table sets forth information with regard to past due and nonperforming loans by loan class:

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of December 31, 2019
Originated
Commercial Loans:
C&I	$	1,227	$	-	$	-	$	1,227	$	1,177	$	838,502	$	840,906
CRE		3,576		-		-		3,576		4,847		1,941,143		1,949,566
Business Banking		794		162		-		956		7,035		530,537		538,528
Total Commercial Loans	$	5,597	$	162	$	-	$	5,759	$	13,059	$	3,310,182	$	3,329,000
Consumer Loans:
Indirect Auto	$	11,860	$	2,108	$	1,005	$	14,973	$	2,175	$	1,176,487	$	1,193,635
Specialty Lending		3,153		2,087		1,307		6,547		-		535,516		542,063
Direct		2,564		564		478		3,606		2,475		481,164		487,245
Total Consumer Loans	$	17,577	$	4,759	$	2,790	$	25,126	$	4,650	$	2,193,167	$	2,222,943
Residential Real Estate	$	1,179	$	190	$	663	$	2,032	$	5,872	$	1,311,373	$	1,319,277
Total Originated Loans	$	24,353	$	5,111	$	3,453	$	32,917	$	23,581	$	6,814,722	$	6,871,220

Acquired
Commercial Loans:
C&I	$	149	$	-	$	-	$	149	$	-	$	19,215	$	19,364
CRE		-		-		-		-		-		60,937		60,937
Business Banking		397		287		-		684		382		33,899		34,965
Total Commercial Loans	$	546	$	287	$	-	$	833	$	382	$	114,051	$	115,266
Consumer Loans:
Direct	$	136	$	58	$	-	$	194	$	105	$	23,434	$	23,733
Total Consumer Loans	$	136	$	58	$	-	$	194	$	105	$	23,434	$	23,733
Residential Real Estate	$	575	$	20	$	264	$	859	$	1,106	$	123,914	$	125,879
Total Acquired Loans	$	1,257	$	365	$	264	$	1,886	$	1,593	$	261,399	$	264,878

Total Loans	$	25,610	$	5,476	$	3,717	$	34,803	$	25,174	$	7,076,121	$	7,136,098

The following table provides information on loans specifically evaluated for impairment:

	December 31, 2019
(In thousands)	Recorded Investment Balance (Book)		Unpaid Principal Balance (Legal)		Related Allowance
Originated
With no related allowance recorded:
Commercial Loans:
C&I	$	76	$	302
CRE		2,410		2,437		-
Business Banking		1,002		1,443
Total Commercial Loans	$	3,488	$	4,182
Consumer Loans:
Indirect Auto	$	154	$	242
Direct		6,862		8,335
Specialty Lending		28		28
Total Consumer Loans	$	7,044	$	8,605
Residential Real Estate	$	7,721	$	9,754
Total	$	18,253	$	22,541

Total Loans	$	18,253	$	22,541	$	-

The following table summarizes the average recorded investments on loans specifically evaluated for impairment and the interest income recognized:

	December 31, 2019				December 31, 2018
(In thousands)	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Originated
Commercial Loans:
C&I	$	242	$	1	$	453	$	1
CRE		3,311		123		4,078		128
Business Banking		1,089		24		1,018		26
Total Commercial Loans	$	4,642	$	148	$	5,549	$	155
Consumer Loans:
Indirect Auto	$	192	$	10	$	179	$	10
Direct		7,387		382		7,922		431
Specialty Lending		7		1		-		-
Total Consumer Loans	$	7,586	$	393	$	8,101	$	441
Residential Real Estate	$	7,505	$	350	$	6,779	$	305
Total Originated	$	19,733	$	891	$	20,429	$	901

Total Loans	$	19,733	$	891	$	20,429	$	901

Under the incurred loss method, classified loans, including all TDRs and nonaccrual Commercial loans that are graded Substandard, Doubtful or Loss, with outstanding balances of $1.0 million or more are evaluated for impairment through the Company’s quarterly status review process. In the third quarter of 2019 the threshold for evaluating loans for impairment was increased from $750 thousand. In determining that we will be unable to collect all principal and/or interest payments due in accordance with the contractual terms of the loan agreements, we consider factors such as payment history and changes in the financial condition of individual borrowers, local economic conditions, historical loss experience and the conditions of the various markets in which the collateral may be liquidated. For loans that are identified as impaired, impairment is measured by one of three methods: 1) the fair value of collateral less cost to sell, 2) present value of expected future cash flows or 3) the loan’s observable market price. These impaired loans are reviewed on a quarterly basis for changes in the level of impairment. Impaired amounts are charged off immediately if such amounts are determined by management to be uncollectable. Any change to the previously recognized impairment loss is recognized as a component of the provision for loan losses.

The following tables illustrate the Company’s credit quality by loan class:

(In thousands)	As of December 31, 2019
Originated
Commercial Credit Exposure
By Internally Assigned Grade:	C&I		CRE		Total
Pass	$	782,763	$	1,868,678	$	2,651,441
Special Mention		28,380		30,519		58,899
Substandard		29,257		50,369		79,626
Doubtful		506		-		506
Total	$	840,906	$	1,949,566	$	2,790,472

Business Banking Credit Exposure	Business
By Internally Assigned Grade:	Banking		Total
Non-classified	$	524,725	$	524,725
Classified		13,803		13,803
Total	$	538,528	$	538,528

Consumer Credit Exposure			Specialty
By Payment Activity:	Indirect Auto		Lending		Direct		Total
Performing	$	1,190,455	$	540,756	$	484,292	$	2,215,503
Nonperforming		3,180		1,307		2,953		7,440
Total	$	1,193,635	$	542,063	$	487,245	$	2,222,943

Residential Real Estate Credit Exposure	Residential
By Payment Activity:	Real Estate		Total
Performing	$	1,312,742	$	1,312,742
Nonperforming		6,535		6,535
Total	$	1,319,277	$	1,319,277

Acquired
Commercial Credit Exposure
By Internally Assigned Grade:	C&I		CRE		Total
Pass	$	17,801	$	60,545	$	78,346
Special Mention		1,269		-		1,269
Substandard		294		392		686
Total	$	19,364	$	60,937	$	80,301

Business Banking Credit Exposure	Business
By Internally Assigned Grade:	Banking		Total
Non-classified	$	32,030	$	32,030
Classified		2,935		2,935
Total	$	34,965	$	34,965

Consumer Credit Exposure
By Payment Activity:	Direct		Total
Performing	$	23,628	$	23,628
Nonperforming		105		105
Total	$	23,733	$	23,733

Residential Real Estate Credit Exposure	Residential
By Payment Activity:	Real Estate		Total
Performing	$	124,509	$	124,509
Nonperforming		1,370		1,370
Total	$	125,879	$	125,879

The following tables illustrate the recorded investment and number of modifications for modified loans, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring:

	Year Ended December 31, 2019
(Dollars in thousands)	Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Commercial Loans:
C&I		1	$	65	$	65
CRE		1		402		402
Business Banking		3		425		431
Total Commercial Loans		5	$	892	$	898
Consumer Loans:
Indirect Auto		9	$	134	$	134
Direct		11		450		480
Total Consumer Loans		20	$	584	$	614
Residential Real Estate		12	$	1,032	$	1,091
Total Troubled Debt Restructurings		37	$	2,508	$	2,603

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the period:

	Year Ended December 31, 2019
(Dollars in thousands)	Number of Contracts		Recorded Investment
Consumer Loans:
Indirect Auto		3	$	18
Direct		29		1,385
Total Consumer Loans		32	$	1,403
Residential Real Estate		23	$	1,203
Total Troubled Debt Restructurings		55	$	2,606

Premises, Equipment and Leases

12 Months Ended

Dec. 31, 2020

Premises, Equipment and Leases [Abstract]

Premises, Equipment and Leases

7. Premises, Equipment and Leases

A summary of premises and equipment follows:

	December 31,
(In thousands)	2020		2019
Land, buildings and improvements	$	125,002	$	121,479
Equipment		55,195		58,431
Premises and equipment before accumulated depreciation	$	180,197	$	179,910
Accumulated depreciation		105,991		104,279
Total premises and equipment	$	74,206	$	75,631

Buildings and improvements are depreciated based on useful lives of five to twenty years. Equipment is depreciated based on useful lives of three to ten years.

Operating leases in which we are the lessee are recorded as operating lease ROU assets and operating lease liabilities, included in other assets and other liabilities, respectively, on the consolidated balance sheets. The Company does not have any significant finance leases in which we are the lessee as of December 31, 2020 and December 31, 2019.

Operating lease ROU assets represent the Company’s right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the Company’s incremental borrowing rate at the lease commencement date. ROU assets are further adjusted for lease incentives. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in occupancy expense in the consolidated statements of income.

We have made a policy election to exclude the recognition requirements to all classes of leases with original terms of 12 months or less. Instead, the short-term lease payments are recognized in profit or loss on a straight-line basis over the lease term.

Our leases relate primarily to office space and bank branches, and some contain options to renew the lease. These options to renew are generally not considered reasonably certain to exercise, and are therefore not included in the lease term until such time that the option to renew is reasonably certain. As of December 31, 2020, operating lease ROU assets and liabilities were $26.4 million and $32.8 million, respectively. As of December 31, 2019 operating lease ROU assets and liabilities were $34.8 million and $37.3 million, respectively.

The table below summarizes our net lease cost:

	December 31,
(In thousands)	2020			2019
Operating lease cost	$	7,382		$	7,239
Variable lease cost		2,141			2,231
Short-term lease cost		453			356
Sublease income		(502	)		(448	)
Total premises and equipment	$	9,474		$	9,378

The table below show future minimum rental commitments related to non-cancelable operating leases for the next five years and thereafter as of December 31, 2020.

(In thousands)
2021	$	7,209
2022		6,339
2023		5,251
2024		4,581
2025		3,411
Thereafter		10,023
Total lease payments	$	36,814
Less: interest		(3,990	)
Present value of lease liabilities	$	32,824

The following table shows the weighted average remaining operating lease term, the weighted average discount rate and supplemental information on the consolidated statements of cash flows for operating leases:

	December 31,
(In thousands except for percent and period data)	2020			2019
Weighted average remaining lease term, in years		7.21			7.69
Weighted average discount rate		3.02	%		3.00	%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,934		$	6,211
ROU assets obtained in exchange for lease liabilities		3,441			41,008

As of December 31, 2020 there are no new significant leases that have not yet commenced.

Rental expense included in occupancy expense amounted to $8.0 million in 2020, $8.0 million in December 31, 2019 and $8.6 million in December 31, 2018.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

8. Goodwill and Other Intangible Assets

A summary of goodwill is as follows:

(In thousands)
January 1, 2020	$	274,769
Goodwill acquired		5,772
December 31, 2020	$	280,541

January 1, 2019	$	274,769
Goodwill acquired		-
December 31, 2019	$	274,769

The Company has intangible assets with definite useful lives capitalized on its consolidated balance sheet in the form of core deposit and other identified intangible assets. These intangible assets are amortized over their estimated useful lives, which range primarily from one to twenty years.

There was no impairment of goodwill recorded during the year ended December 31, 2020 and 2019.

A summary of core deposit and other intangible assets follows:

	December 31,
(In thousands)	2020		2019
Core deposit intangibles:
Gross carrying amount	$	8,951	$	8,951
Less: accumulated amortization		8,463		7,988
Net carrying amount	$	488	$	963

Identified intangible assets:
Gross carrying amount	$	27,057	$	34,623
Less: accumulated amortization		15,810		23,566
Net carrying amount	$	11,247	$	11,057

Total intangibles:
Gross carrying amount	$	36,008	$	43,574
Less: accumulated amortization		24,273		31,554
Net carrying amount	$	11,735	$	12,020

Amortization expense on intangible assets with definite useful lives totaled $3.4 million for 2020, $3.6 million for 2019 and $4.0 million for 2018. Amortization expense on intangible assets with definite useful lives is expected to total $2.8 million for 2021, $2.2 million for 2022, $1.8 million for 2023, $1.5 million for 2024, $1.2 million for 2025 and $2.3 million thereafter. Other identified intangible assets include customer lists and non-compete agreements.

During the years ended December 31, 2020 and 2019, there was no impairment of intangible assets.

Deposits

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Deposits

9. Deposits

The following table sets forth the maturity distribution of time deposits:

(In thousands)	December 31, 2020
Within one year	$	476,983
After one but within two years		77,081
After two but within three years		36,857
After three but within four years		27,888
After four but within five years		14,381
After five years		289
Total	$	633,479

Time deposits of $250,000 or more aggregated $104.1 million and $140.4 million December 31, 2020 and 2019, respectively.

Borrowings

12 Months Ended

Dec. 31, 2020

Borrowings [Abstract]

Borrowings

10. Borrowings

Short-Term Borrowings

In addition to the liquidity provided by balance sheet cash flows, liquidity must also be supplemented with additional sources such as credit lines from correspondent banks as well as borrowings from the FHLB and the Federal Reserve Bank. Other funding alternatives may also be appropriate from time to time, including wholesale and retail repurchase agreements and brokered certificate of deposit (“CD”) accounts.

Short-term borrowings totaled $168.4 million and $655.3 million at December 31, 2020 and 2019, respectively, and consist of Federal funds purchased and securities sold under repurchase agreements, which generally represent overnight borrowing transactions and other short-term borrowings, primarily FHLB advances, with original maturities of one year or less.

The Company has unused lines of credit with the FHLB and access to brokered deposits available for short-term financing. Those sources totaled approximately $3.1 billion and $2.4 billion at December 31, 2020 and 2019, respectively. Borrowings on the FHLB lines are secured by FHLB stock, certain securities and one-to-four family first lien mortgage loans. Securities collateralizing repurchase agreements are held in safekeeping by nonaffiliated financial institutions and are under the Company’s control.

Information related to short-term borrowings is summarized as follows as of December 31:

(Dollars in thousands)	2020			2019			2018
Federal funds purchased:
Balance at year-end	$	-		$	65,000		$	80,000
Average during the year		14,727			47,137			66,839
Maximum month end balance		40,000			80,000			80,000
Weighted average rate during the year		2.05	%		3.90	%		3.43	%
Weighted average rate at year-end		-			2.84	%		4.25	%

Securities sold under repurchase agreements:
Balance at year-end	$	143,386		$	143,775		$	160,696
Average during the year		154,383			123,337			146,135
Maximum month end balance		176,840			146,410			170,350
Weighted average rate during the year		0.17	%		0.33	%		0.16	%
Weighted average rate at year-end		0.20	%		0.40	%		0.38	%

Other short-term borrowings:
Balance at year-end	$	25,000		$	446,500		$	631,000
Average during the year		183,699			403,453			514,662
Maximum month end balance		366,500			576,000			653,000
Weighted average rate during the year		1.55	%		1.85	%		1.56	%
Weighted average rate at year-end		1.99	%		1.73	%		1.82	%

See Note 4 for additional information regarding securities pledged as collateral for securities sold under the repurchase agreements.

Long-Term Debt

Long-term debt consists of obligations having an original maturity at issuance of more than one year. A majority of the Company’s long-term debt is comprised of FHLB advances collateralized by the FHLB stock owned by the Company, and a blanket lien on its residential real estate mortgage loans. As of December 31, 2020 the Company had no callable long-term debt. A summary is as follows:

(Dollars in thousands)	December 31, 2020			December 31, 2019
Maturity	Amount		Weighted Average Rate	Amount		Weighted Average Rate
2020	$	-	-	$	25,000	2.34%
2021		25,003	2.56%		25,021	2.56%
2022		10,598	2.53%		10,598	2.53%
2031		3,496	2.45%		3,592	2.45%
Total	$	39,097		$	64,211

Subordinated Debt

On June 23, 2020, the Company issued $100.0 million aggregate principal amount of 5.00% fixed-to-floating rate subordinated notes due 2030. The subordinated notes, which qualify as Tier 2 capital, bear interest at an annual rate of 5.00%, payable semi-annually in arrears commencing on January 1, 2021, and a floating rate of interest equivalent to the three-month Secured Overnight Financing Rate (“SOFR”) plus a spread of 4.85%, payable quarterly in arrears commencing on October 1, 2025. The subordinated notes issuance costs of $2.2 million are being amortized on a straight-line basis into interest expense over five years.

The Company may redeem the subordinated notes (1) in whole or in part beginning with the interest payment date of July 1, 2025, and on any interest payment date thereafter or (2) in whole but not in part upon the occurrence of a “Tax Event”, a “Tier 2 Capital Event” or in the event the Company is required to register as an investment company pursuant to the Investment Company Act of 1940, as amended. The redemption price for any redemption is 100% of the principal amount of the subordinated notes being redeemed, plus accrued and unpaid interest thereon to, but excluding, the date of redemption. Any redemption of the subordinated notes will be subject to the receipt of the approval of the Board of Governors of the Federal Reserve System to the extent then required under applicable laws or regulations, including capital regulations.

The following table summarizes the Company’s subordinated debt:

(Dollars in thousands)		December 31, 2020
Subordinated notes issued June 2020 – fixed interest rate of 5.00% through June 2025 and a variable interest rate equivalent to three-month SOFR plus 4.85% thereafter, maturing July 1, 2030	-	$	100,000
Unamortized debt issuance costs			(1,948	)
Total subordinated debt, net		$	98,052

Junior Subordinated Debt

The Company sponsors five business trusts, CNBF Capital Trust I, NBT Statutory Trust I, NBT Statutory Trust II, Alliance Financial Capital Trust I and Alliance Financial Capital Trust II (collectively, the “Trusts”). The Company’s junior subordinated debentures include amounts related to the Company’s NBT Statutory Trust I and II as well as junior subordinated debentures associated with one statutory trust affiliate that was acquired from our merger with CNB Financial Corp. and two statutory trusts that were acquired from our acquisition of Alliance Financial Corporation (“Alliance”). The Trusts were formed for the purpose of issuing company-obligated mandatorily redeemable trust preferred securities to third-party investors and investing in the proceeds from the sale of such preferred securities solely in junior subordinated debt securities of the Company for general corporate purposes. The Company guarantees, on a limited basis, payments of distributions on the trust preferred securities and payments on redemption of the trust preferred securities. The Trusts are VIEs for which the Company is not the primary beneficiary, as defined by GAAP. In accordance with GAAP, the accounts of the Trusts are not included in the Company’s consolidated financial statements. See Note 1 for additional information about the Company’s consolidation policy.

The debentures held by each trust are the sole assets of that trust. The Trusts hold, as their sole assets, junior subordinated debentures of the Company with face amounts totaling $98.0 million at December 31, 2020. The Company owns all of the common securities of the Trusts and has accordingly recorded $3.2 million in equity method investments classified as other assets in our consolidated balance sheets at December 31, 2020. The Company owns all of the common stock of the Trusts, which have issued trust preferred securities in conjunction with the Company issuing trust preferred debentures to the Trusts. The terms of the trust preferred debentures are substantially the same as the terms of the trust preferred securities.

As of December 31, 2020, the Trusts had the following trust preferred securities outstanding and held the following junior subordinated debentures of the Company (dollars in thousands):

Description	Issuance Date	Trust Preferred Securities Outstanding		Interest Rate	Trust Preferred Debt Owed To Trust		Final Maturity Date
CNBF Capital Trust I	August 1999	$	18,000	3-month LIBOR plus 2.75%	$	18,720	August 2029
NBT Statutory Trust I	November 2005		5,000	3-month LIBOR plus 1.40%		5,155	December 2035
NBT Statutory Trust II	February 2006		50,000	3-month LIBOR plus 1.40%		51,547	March 2036
Alliance Financial Capital Trust I	December 2003		10,000	3-month LIBOR plus 2.85%		10,310	January 2034
Alliance Financial Capital Trust II	September 2006		15,000	3-month LIBOR plus 1.65%		15,464	September 2036

The Company’s junior subordinated debentures are redeemable prior to the maturity date at our option upon each trust’s stated option repurchase dates and from time to time thereafter. These debentures are also redeemable in whole at any time upon the occurrence of specific events defined within the trust indenture. Our obligations under the debentures and related documents, taken together, constitute a full and unconditional guarantee by the Company of the issuers’ obligations under the trust preferred securities. The Company owns all of the common stock of the Trusts, which have issued trust preferred securities in conjunction with the Company issuing trust preferred debentures to the Trusts. The terms of the trust preferred debentures are substantially the same as the terms of the trust preferred securities.

With respect to the Trusts, the Company has the right to defer payments of interest on the debentures issued to the Trusts at any time or from time to time for a period of up to ten consecutive semi-annual periods with respect to each deferral period. Under the terms of the debentures, if in certain circumstances there is an event of default under the debentures or the Company elects to defer interest on the debentures, the Company may not, with certain exceptions, declare or pay any dividends or distributions on its capital stock or purchase or acquire any of its capital stock.

Despite the fact that the Trusts are not included in the Company’s consolidated financial statements, $97 million of the $101 million in trust preferred securities issued by these subsidiary trusts is included in the Tier 1 capital of the Company for regulatory capital purposes as allowed by the Federal Reserve Board (NBT Bank owns $1.0 million of CNBF Trust I securities). The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires bank holding companies with assets greater than $500 million to be subject to the same capital requirements as insured depository institutions, meaning, for instance, that such bank holding companies will not be able to count trust preferred securities issued after May 19, 2010 as Tier 1 capital. The aforementioned Trusts are grandfathered with respect to this enactment based on their date of issuance.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Income Taxes

11. Income Taxes

The significant components of income tax expense attributable to operations are as follows:

	Years Ended December 31,
(In thousands)	2020			2019			2018
Current
Federal	$	36,358		$	28,475		$	15,762
State		9,768			7,653			5,977
Total Current	$	46,126		$	36,128		$	21,739

Deferred
Federal	$	(14,021	)	$	(1,379	)	$	2,281
State		(3,406	)		(338	)		416
Total Deferred	$	(17,427	)	$	(1,717	)	$	2,697
Total income tax expense	$	28,699		$	34,411		$	24,436

During 2018, the Company recorded a $5.5 million benefit primarily related to changes in accounting methods approved by the Internal Revenue Services in the fourth quarter of 2018.

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

	December 31,
(In thousands)	2020		2019
Deferred tax assets:
Allowance for loan losses	$	27,282	$	18,535
Lease liability		8,141		9,331
Deferred compensation		11,602		8,336
Postretirement benefit obligation		1,511		1,631
Fair value adjustments from acquisitions		259		422
Loan fees		5,400		1,384
Accrued liabilities		1,307		1,176
Stock-based compensation expense		3,213		3,032
Other		3,558		1,498
Total deferred tax assets	$	62,273	$	45,345
Deferred tax liabilities:
Pension benefits	$	14,406	$	13,014
Lease right-of-use asset		6,567		9,259
Amortization of intangible assets		12,725		12,202
Premises and equipment, primarily due to accelerated depreciation		4,774		5,137
Unrealized gain on securities		7,732		1,770
Other		952		1,429
Total deferred tax liabilities	$	47,156	$	42,811
Net deferred tax asset at year-end	$	15,117	$	2,534
Net deferred tax asset at beginning of year		2,534		8,795
Increase (decrease) in net deferred tax asset	$	12,583	$	(6,261	)

Realization of deferred tax assets is dependent upon the generation of future taxable income. A valuation allowance is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. Based on available evidence, gross deferred tax assets will ultimately be realized and a valuation allowance was not deemed necessary at December 31, 2020 and 2019.

The following is a reconciliation of the provision for income taxes to the amount computed by applying the applicable Federal statutory rate to income before taxes:

	Years Ended December 31
(In thousands)	2020			2019			2018
Federal income tax at statutory rate	$	27,948		$	32,641		$	28,770
Tax exempt income		(981	)		(1,233	)		(1,456	)
Net increase in cash surrender value of life insurance		(1,135	)		(927	)		(973	)
Federal tax credit		(1,705	)		(1,458	)		(1,499	)
State taxes, net of federal tax benefit		5,026			5,773			5,051
Accounting method changes - tax rate change impact		-			-			(5,326	)
Stock-based compensation, excess tax benefit		(152	)		(342	)		(456	)
Other, net		(302	)		(43	)		325
Income tax expense	$	28,699		$	34,411		$	24,436

A reconciliation of the beginning and ending balance of Federal and State gross unrecognized tax benefits (“UTBs”) is as follows:

(In thousands)	2020		2019
Balance at January 1	$	779	$	641
Additions for tax positions of prior years		254		26
Current period tax positions		145		112
Balance at December 31	$	1,178	$	779
Amount that would affect the effective tax rate if recognized, gross of tax	$	931	$	615

The Company recognizes interest and penalties on the income tax expense line in the accompanying consolidated statements of income. The Company monitors changes in tax statutes and regulations to determine if significant changes will occur over the next 12 months. As of December 31, 2020, no significant changes to UTBs are projected; however, tax audit examinations are possible, but it is not reasonably possible to estimate when examinations in subsequent years will be completed. The Company recognized an insignificant amount of interest expense related to UTBs in the consolidated statement of income for the year ended December 31, 2020.

As of December 31, 2020, the Company is no longer subject to U.S. Federal tax examination by tax authorities for years prior to 2016 and New York State for years prior to 2015. The tax years 2015 to 2019 are currently being audited by New York State.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Employee Benefit Plans [Abstract]

Employee Benefit Plans

12. Employee Benefit Plans

Defined Benefit Post-Retirement Plans

The Company has a qualified, noncontributory, defined benefit pension plan (“the Plan”) covering substantially all of its employees at December 31, 2020. Benefits paid from the plan are based on age, years of service, compensation and social security benefits and are determined in accordance with defined formulas. The Company’s policy is to fund the Plan in accordance with Employee Retirement Income Security Act of 1974 standards. Assets of the Plan are invested in publicly traded stocks and mutual funds. Prior to January 1, 2000, the Plan was a traditional defined benefit plan based on final average compensation. On January 1, 2000, the Plan was converted to a cash balance plan with grandfathering provisions for existing participants. Effective March 1, 2013, the Plan was amended. Benefit accruals for participants who, as of January 1, 2000, elected to continue participating in the traditional defined benefit plan design were frozen as of March 1, 2013. In May 2013, the noncontributory, frozen, defined benefit pension plan assumed from Alliance in the acquisition was merged into the Plan.

In addition to the Plan, the Company provides supplemental employee retirement plans to certain current and former executives. The Company also assumed supplemental retirement plans for certain former executives in the Alliance acquisition.

These supplemental employee retirement plans and the Plan are collectively referred to herein as “Pension Benefits.”

In addition, the Company provides certain health care benefits for retired employees. Benefits were accrued over the employees’ active service period. Only employees that were employed by the Company on or before January 1, 2000 are eligible to receive post-retirement health care benefits. The Plan is contributory for participating retirees, requiring participants to absorb certain deductibles and coinsurance amounts with contributions adjusted annually to reflect cost sharing provisions and benefit limitations called for in the Plan. Employees become eligible for these benefits if they reach normal retirement age while working for the Company. For eligible employees described above, the Company funds the cost of post-retirement health care as benefits are paid. The Company elected to recognize the transition obligation on a delayed basis over twenty years. In addition, the Company assumed post-retirement medical life insurance benefits for certain Alliance employees, retirees and their spouses, if applicable, in the Alliance acquisition. These post-retirement benefits are referred to herein as “Other Benefits.”

Accounting standards require an employer to: (1) recognize the overfunded or underfunded status of defined benefit post-retirement plans, which is measured as the difference between plan assets at fair value and the benefit obligation, as an asset or liability in its balance sheet; (2) recognize changes in that funded status in the year in which the changes occur through comprehensive income; and (3) measure the defined benefit plan assets and obligations as of the date of its year-end balance sheet.

In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans - General (Subtopic 715-20), provides changes to the disclosure requirements for defined benefit plans. The Company adopted the provisions of ASU 2018-14 as of December 31, 2020 and it did not have a material impact on its disclosures to the consolidated financial statements.

The components of AOCI, which have not yet been recognized as components of net periodic benefit cost, related to pensions and other post-retirement benefits are summarized below:

	Pension Benefits				Other Benefits
(In thousands)	2020		2019		2020		2019
Net actuarial loss	$	26,108	$	28,334	$	317	$	125
Prior service cost		378		491		43		94
Total amounts recognized in AOCI (pre-tax)	$	26,486	$	28,825	$	360	$	219

A December 31 measurement date is used for the pension, supplemental pension and post-retirement benefit plans. The following table sets forth changes in benefit obligations, changes in plan assets and the funded status of the pension plans and other post-retirement benefits:

	Pension Benefits						Other Benefits
(In thousands)	2020			2019			2020			2019
Change in benefit obligation:
Benefit obligation at beginning of year	$	90,586		$	85,134		$	6,083		$	7,034
Service cost		1,840			1,723			8			7
Interest cost		3,237			3,942			213			272
Plan participants’ contributions		-			-			173			201
Actuarial loss (gain)		3,411			6,030			191			(719	)
Curtailments		(67	)		-			-			-
Benefits paid		(8,813	)		(6,243	)		(669	)		(712	)
Projected benefit obligation at end of year	$	90,194		$	90,586		$	5,999		$	6,083
Change in plan assets:
Fair value of plan assets at beginning of year	$	122,995		$	109,746		$	-		$	-
Gain on plan assets		12,449			18,120			-			-
Employer contributions		1,932			1,372			496			511
Plan participants’ contributions		-			-			173			201
Benefits paid		(8,813	)		(6,243	)		(669	)		(712	)
Fair value of plan assets at end of year	$	128,563		$	122,995		$	-		$	-

Funded (unfunded) status at year end	$	38,369		$	32,409		$	(5,999	)	$	(6,083	)

An asset is recognized for an overfunded plan and a liability is recognized for an underfunded plan. The accumulated benefit obligation for pension benefits was $90.2 million and $90.6 million at December 31, 2020 and 2019, respectively. The accumulated benefit obligation for other post-retirement benefits was $6.0 million and $6.1 million at December 31, 2020 and 2019, respectively. The funded status of the pension and other post-retirement benefit plans has been recognized as follows in the consolidated balance sheets at December 31, 2020 and 2019.

	Pension Benefits						Other Benefits
(In thousands)	2020			2019			2020			2019
Other assets	$	57,456		$	51,988		$	-		$	-
Other liabilities		(19,087	)		(19,579	)		(5,999	)		(6,083	)
Funded status	$	38,369		$	32,409		$	(5,999	)	$	(6,083	)

The following assumptions were used to determine the benefit obligation and the net periodic pension cost for the years indicated:

	Years Ended December 31,
	2020	2019	2018
Weighted average assumptions:
The following assumptions were used to determine benefit obligations:
Discount rate	3.08% - 3.25%	3.69% - 3.73%	4.79% - 4.80%
Expected long-term return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Interest rate of credit for cash balance plan	1.62%	2.28%	3.36%

The following assumptions were used to determine net periodic pension cost:
Discount rate	3.69% - 3.73%	4.79% - 4.80%	4.20% - 4.21%
Expected long-term return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Interest rate of credit for cash balance plan	2.28%	3.36%	2.80%

Net periodic benefit cost and other amounts recognized in OCI for the years ended December 31 included the following components:

	Pension Benefits									Other Benefits
(In thousands)	2020			2019			2018			2020			2019			2018
Components of net periodic (benefit) cost:
Service cost	$	1,840		$	1,723		$	1,659		$	8		$	7		$	10
Interest cost		3,237			3,942			3,645			213			272			327
Expected return on plan assets		(8,410	)		(7,480	)		(8,478	)		-			-			-
Additional gain due to curtailment		(74	)		-			-			-			-			-
Amortization of prior service cost		41			43			40			51			50			51
Amortization of unrecognized net loss		1,535			2,593			930			-			-			124
Net periodic pension (benefit) cost	$	(1,831	)	$	821		$	(2,204	)	$	272		$	329		$	512

Other changes in plan assets and benefit obligations recognized in OCI (pre-tax):
Net (gain) loss	$	(628	)	$	(4,611	)	$	12,882		$	192		$	(720	)	$	(762	)
Prior service cost		-			-			337			-			-			-
Additional gain due to curtailment		7			-			-			-			-			-
Amortization of prior service cost		(41	)		(43	)		(40	)		(51	)		(50	)		(51	)
Amortization of unrecognized net (loss)		(1,535	)		(2,593	)		(930	)		-			-			(124	)
Total recognized in OCI	$	(2,197	)	$	(7,247	)	$	12,249		$	141		$	(770	)	$	(937	)

Total recognized in net periodic (benefit) cost and OCI, pre-tax	$	(4,028	)	$	(6,426	)	$	10,045		$	413		$	(441	)	$	(425	)

The service cost component of the net periodic (benefit) cost is included in Salaries and Employee Benefits and the interest cost, expected return on plan assets and net amortization components are included in Other Noninterest Expense on the consolidated statements of income.

The following table sets forth estimated future benefit payments for the pension plans and other post-retirement benefit plans as of December 31, 2020:

(In thousands)	Pension Benefits		Other Benefits
2021	$	6,910	$	453
2022		6,977		451
2023		6,807		448
2024		7,083		443
2025		7,409		436
2026 - 2030		33,579		1,962

The Company made no voluntary contributions to the pension and other benefit plans during the year ended December 31, 2020 and 2019.

For measurement purposes, the annual rates of increase in the per capita cost of covered medical and prescription drug benefits for fiscal year 2020 were assumed to be 4.5% to 7.0% percent. The rates were assumed to decrease gradually to 3.8% for fiscal year 2075 and remain at that level thereafter. Assumed health care cost trend rates have a significant effect on amounts reported for health care plans.

Plan Investment Policy

The Company’s key investment objectives in managing its defined benefit plan assets are to ensure that present and future benefit obligations to all participants and beneficiaries are met as they become due; to provide a total return that, over the long-term, maximizes the ratio of the plan assets to liabilities, while minimizing the present value of required Company contributions, at the appropriate levels of risk; to meet statutory requirements and regulatory agencies’ requirements; and to satisfy applicable accounting standards. The Company periodically evaluates the asset allocations, funded status, rate of return assumption and contribution strategy for satisfaction of our investment objectives.

The target and actual allocations expressed as a percentage of the defined benefit pension plan’s assets are as follows:

	Target 2020	2020	2019
Cash and cash equivalents	0 - 15%	3%	3%
Fixed income securities	30 - 60%	38%	40%
Equities	40 - 70%	59%	57%
Total		100%	100%

Only high-quality bonds are to be included in the portfolio. All issues that are rated lower than A by Standard and Poor’s are to be excluded. Equity securities at December 31, 2020 and 2019 do not include any Company common stock.

The following table presents the financial instruments recorded at fair value on a recurring basis by the Plan:

(In thousands)	Level 1		Level 2		December 31, 2020
Cash and cash equivalents	$	3,461	$	-	$	3,461
Foreign equity mutual funds		41,000		-		41,000
Equity mutual funds		35,637		-		35,637
U.S. government bonds		-		47		47
Corporate bonds		-		48,418		48,418
Total	$	80,098	$	48,465	$	128,563

	Level 1		Level 2		December 31, 2019
Cash and cash equivalents	$	4,143	$	-	$	4,143
Foreign equity mutual funds		40,239		-		40,239
Equity mutual funds		29,886		-		29,886
U.S. government bonds		-		58		58
Corporate bonds		-		48,669		48,669
Total	$	74,268	$	48,727	$	122,995

The plan had no financial instruments recorded at fair value on a non-recurring basis as of December 31, 2020 and 2019.

Determination of Assumed Rate of Return

The expected long-term rate-of-return on assets was 7.0% at December 31, 2020 and 2019. This assumption represents the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation. The assumption has been determined by reflecting expectations regarding future rates of return for the portfolio considering the asset distribution and related historical rates of return. The appropriateness of the assumption is reviewed annually.

Employee 401(k) and Employee Stock Ownership Plans

The Company maintains a 401(k) and employee stock ownership plan (the “401(k) Plan”). The Company contributes to the 401(k) Plan based on employees’ contributions out of their annual salaries. In addition, the Company may also make discretionary contributions to the 401(k) Plan based on profitability. Participation in the 401(k) Plan is contingent upon certain age and service requirements. The employer contributions associated with the 401(k) Plan were $3.6 million in 2020, $3.6 million in 2019 and $3.2 million in 2018.

Other Retirement Benefits

Included in other liabilities is $1.6 million and $1.7 million at December 31, 2020 and 2019, respectively, for supplemental retirement benefits for retired executives from legacy plans assumed in acquisitions. The Company recognized $0.2 million, $0.1 million and $0.1 million in expense for each of the years ended December 31, 2020, 2019 and 2018 respectively, related to these plans.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Regulatory Capital Requirements [Abstract]

Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

Stock-Based Compensation [Abstract]

Stock-Based Compensation

13. Stock-Based Compensation

In May 2018, the Company adopted the NBT Bancorp Inc. 2018 Omnibus Incentive Plan (the “Stock Plan”) replacing the 2008 Omnibus Incentive Plan which automatically expired in April 2018. Under the terms of the Stock Plan, equity-based awards are granted to directors and employees to increase their direct proprietary interest in the operations and success of the Company. The Stock Plan assumed all prior equity-based incentive plans and any new equity-based awards are granted under the terms of the Stock Plan. Restricted shares granted under the Plan typically vest after three or five years for employees and three years for non-employee directors. Restricted stock units granted under the Stock Plan may have different terms and conditions. Performance shares and units granted under the Stock Plan for executives may have different terms and conditions. Since 2011, the Company primarily grants restricted stock unit awards. Stock option grants since that time were reloads of existing grants which terminate ten years from the date of the grant. Under terms of the Stock Plan, stock options are granted to purchase shares of the Company’s common stock at a price equal to the fair market value of the common stock on the date of the grant. Shares issued as a result of stock option exercises and vesting of restricted shares and stock unit awards are funded from the Company’s treasury stock.

The Company has outstanding restricted stock granted from various plans at December 31, 2020. The Company recognized $4.6 million, $4.2 million and $3.9 million in stock-based compensation expense related to these stock awards for the years ended December 31, 2020, 2019 and 2018, respectively. Tax benefits recognized with respect to restricted stock awards and stock units were $1.0 million, $1.1 million and $1.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. Unrecognized compensation cost related to restricted stock units totaled $5.1 million at December 31, 2020 and will be recognized over 1.5 years on a weighted average basis. Shares issued are funded from the Company’s treasury stock. The following table summarizes information for unvested restricted stock units outstanding as of December 31, 2020:

	Number of Shares			Weighted- Average Grant Date Fair Value
Unvested at January 1, 2020		555,440		$	30.11
Forfeited		(2,315	)		34.82
Vested		(115,432	)		29.93
Granted		147,562			28.61
Unvested at December 31, 2020		585,255		$	29.78

The following table summarizes information concerning stock options outstanding:

(In thousands, except share and per share data)	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2020		33,145		$	23.73
Exercised		(8,845	)		20.87
Expired		(10,500	)		20.74
Outstanding at December 31, 2020		13,800		$	27.83		3.36	$	75

Exercisable at December 31, 2020		13,800		$	27.83		3.36	$	75

There was no stock-based compensation expense for stock option awards for the year ended December 31, 2020. Total stock-based compensation expense for stock option awards totaled $1 thousand and $11 thousand for the years ended December 31, 2019 and 2018, respectively. Cash proceeds, tax benefits and intrinsic value related to total stock options exercised is as follows:

	Years Ended December 31,
(In thousands)	2020		2019		2018
Proceeds from stock options exercised	$	185	$	725	$	999
Tax benefits related to stock options exercised		41		123		173
Intrinsic value of stock options exercised		165		490		692
Fair value of shares vested during the year		-		13		16

The Company has 781,123 securities remaining available to be granted as part of the Plan at December 31, 2020.

Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity [Abstract]

Stockholders' Equity

14. Stockholders’ Equity

In accordance with GAAP, unrecognized prior service costs and net actuarial gains or losses associated with the Company’s pension and postretirement benefit plans and unrealized gains on derivatives and on AFS securities are included in AOCI, net of tax. For the years ended December 31, components of AOCI are:

(In thousands)	2020			2019			2018
Unrecognized prior service cost and net actuarial (losses) on pension plans	$	(20,134	)	$	(21,677	)	$	(27,689	)
Unrealized (losses) gains on derivatives (cash flow hedges)		(16	)		(32	)		1,821
Unrealized net holding gains (losses) on AFS securities		20,567			2,683			(17,306	)
AOCI	$	417		$	(19,026	)	$	(43,174	)

Certain restrictions exist regarding the ability of the subsidiary bank to transfer funds to the Company in the form of cash dividends. The approval of the OCC is required to pay dividends when a bank fails to meet certain minimum regulatory capital standards or when such dividends are in excess of a subsidiary bank’s earnings retained in the current year plus retained net profits for the preceding two years as specified in applicable OCC regulations. At December 31, 2020, approximately $194.2 million of the total stockholders’ equity of the Bank was available for payment of dividends to the Company without approval by the OCC. The Bank’s ability to pay dividends also is subject to the Bank being in compliance with regulatory capital requirements. The Bank is currently in compliance with these requirements. Under the State of Delaware General Corporation Law, the Company may declare and pay dividends either out of accumulated net retained earnings or capital surplus.

The Company purchased 263,507 shares of its common stock during the year ended December 31, 2020, for a total of $8.0 million at an average price of $30.28 per share under its previously announced plan. As of December 31, 2020, there were 736,493 shares available for repurchase under this plan, which expires on December 31, 2021. On January 27, 2021, the NBT Board of Directors approved an increase to the total number of shares authorized under the stock repurchase program to 2 million shares from 1 million shares, previously.

Regulatory Capital Requirements

12 Months Ended

Dec. 31, 2020

Regulatory Capital Requirements

15. Regulatory Capital Requirements

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of NBT Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 Capital to risk-weighted assets and of Tier 1 capital to average assets. In addition to maintaining minimum capital ratios, the Company is subject to a capital conservation buffer (“Buffer”) of 2.50% above the minimum to avoid restriction on capital distributions and discretionary bonus paychecks to officers. At December 31, 2020 and 2019, the Company and the Bank meet all capital adequacy requirements to which they were subject.

Under their prompt corrective action regulations, regulatory authorities are required to take certain supervisory actions (and may take additional discretionary actions) with respect to an undercapitalized institution. Such actions could have a direct material effect on an institution’s financial statements. The regulations establish a framework for the classification of banks into five categories: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. As of December 31, 2020 and 2019, the most recent notifications from the Bank’s regulators categorized the Bank as well-capitalized under the regulatory framework for prompt corrective action. To be categorized as well-capitalized the Bank must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 Capital to Average Asset ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the Bank’s category.

In March 2020, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC announced an interim final rule to delay the estimated impact on regulatory capital stemming from the implementation of CECL. Under the modified CECL transition provision, the regulatory capital impact of the January 1, 2020 CECL adoption date adjustment to the allowance for credit losses (after-tax) has been deferred and will phase into regulatory capital at 25% per year commencing January 1, 2022. For the ongoing impact of CECL, the Company is allowed to defer the regulatory capital impact of the allowance for credit losses in an amount equal to 25% of the change in the allowance for credit losses (pre-tax) recognized through earnings for each period between January 1, 2020 and December 31, 2021. The cumulative adjustment to the allowance for credit losses between January 1, 2020 and December 31, 2021, will also phase into regulatory capital at 25% per year commencing January 1, 2022. The Company adopted the capital transition relief over the permissible five-year period.

The Company and NBT Bank’s actual capital amounts and ratios are presented as follows:

	Actual					Regulatory Ratio Requirements
(Dollars in thousands)	Amount		Ratio			Minimum Capital Adequacy			Minimum plus Buffer			For Classification as Well- Capitalized
As of December 31, 2020
Tier I Capital (to average assets)
Company	$	1,018,320		9.56	%		4.00	%					5.00	%
NBT Bank		1,054,097		9.95	%		4.00	%					5.00	%
Common Equity Tier 1 Capital
Company		921,320		11.84	%		4.50	%		7.00	%		6.50	%
NBT Bank		1,054,097		13.67	%		4.50	%		7.00	%		6.50	%
Tier I Capital (to risk-weighted assets)
Company		1,018,320		13.09	%		6.00	%		8.50	%		8.00	%
NBT Bank		1,054,097		13.67	%		6.00	%		8.50	%		8.00	%
Total Capital (to risk-weighted assets)
Company		1,215,672		15.62	%		8.00	%		10.50	%		10.00	%
NBT Bank		1,150,544		14.93	%		8.00	%		10.50	%		10.00	%

As of December 31, 2019
Tier I Capital (to average assets)
Company	$	963,147		10.33	%		4.00	%					5.00	%
NBT Bank		894,407		9.64	%		4.00	%					5.00	%
Common Equity Tier 1 Capital
Company		866,147		11.29	%		4.50	%		7.00	%		6.50	%
NBT Bank		894,407		11.76	%		4.50	%		7.00	%		6.50	%
Tier I Capital (to risk-weighted assets)
Company		963,147		12.56	%		6.00	%		8.50	%		8.00	%
NBT Bank		894,407		11.76	%		6.00	%		8.50	%		8.00	%
Total Capital (to risk-weighted assets)
Company		1,037,041		13.52	%		8.00	%		10.50	%		10.00	%
NBT Bank		968,301		12.73	%		8.00	%		10.50	%		10.00	%

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

Reclassification Adjustments Out of Other Comprehensive Income (Loss) [Abstract]

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

16. Earnings Per Share

The following is a reconciliation of basic and diluted EPS for the years presented in the consolidated statements of income:

	Years Ended December 31,
	2020						2019						2018
(In thousands except per share data)	Net Income		Weighted Average Shares		Per Share Amount		Net Income		Weighted Average Shares		Per Share Amount		Net Income		Weighted Average Shares		Per Share Amount
Basic EPS	$	104,388		43,693	$	2.39	$	121,021		43,815	$	2.76	$	112,566		43,701	$	2.58
Effect of dilutive securities:
Stock-based compensation				296						309						319
Diluted EPS	$	104,388		43,989	$	2.37	$	121,021		44,124	$	2.74	$	112,566		44,020	$	2.56

There was a nominal number of weighted average stock options outstanding for the years ended December 31, 2020, 2019 and 2018, respectively, that were not considered in the calculation of diluted EPS since the stock options’ exercise prices were greater than the average market price during these periods.

Reclassification Adjustments Out of Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2020

Reclassification Adjustments Out of Other Comprehensive Income (Loss)

17. Reclassification Adjustments Out of Other Comprehensive Income (Loss)

The following table summarizes the reclassification adjustments out of AOCI:

Detail About AOCI Components	Amount Reclassified From AOCI									Affected Line Item in the Consolidated Statements of Comprehensive Income (Loss)
(In thousands)	Years Ended December 31,
(In thousands)	2020			2019			2018
AFS securities:
(Gains) losses on AFS securities	$	(3	)	$	79		$	6,622		Net securities (gains) losses
Amortization of unrealized gains related to securities transfer		644			737			688		Interest income
Tax effect	$	(160	)	$	(204	)	$	(1,827	)	Income tax (benefit)
Net of tax	$	481		$	612		$	5,483

Cash flow hedges:
Net unrealized losses (gains) on cash flow hedges reclassified to interest expense	$	296		$	(2,012	)	$	(2,300	)	Interest expense
Tax effect	$	(74	)	$	503		$	575		Income tax (benefit) expense
Net of tax	$	222		$	(1,509	)	$	(1,725	)

Pension and other benefits:
Amortization of net losses	$	1,535		$	2,593		$	1,054		Other noninterest expense
Amortization of prior service costs		92			93			91		Other noninterest expense
Tax effect	$	(407	)	$	(672	)	$	(286	)	Income tax (benefit)
Net of tax	$	1,220		$	2,014		$	859

Total reclassifications, net of tax	$	1,923		$	1,117		$	4,617

Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2020

Commitments and Contingent Liabilities [Abstract]

Commitments and Contingent Liabilities

18. Commitments and Contingent Liabilities

The Company’s concentrations of credit risk are reflected in the consolidated balance sheets. The concentrations of credit risk with standby letters of credit, unused lines of credit, commitments to originate new loans and loans sold with recourse generally follow the loan classifications.

At December 31, 2020, approximately 59% of the Company’s loans were secured by real estate located in central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and southern coastal Maine area. Accordingly, the ultimate collectability of a substantial portion of the Company’s portfolio is susceptible to changes in market conditions of those areas. Management is not aware of any material concentrations of credit to any industry or individual borrowers.

The Company is a party to certain financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, unused lines of credit, standby letters of credit and certain agricultural real estate loans sold to investors with recourse, with the sold portion having a government guarantee that is assignable back to the Company upon repurchase of the loan in the event of default. The Company’s exposure to credit loss in the event of nonperformance by the other party to the commitments to extend credit, unused lines of credit, standby letters of credit and loans sold with recourse is represented by the contractual amount of those instruments. The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies. Collateral may be obtained based on management’s assessment of the customer’s creditworthiness.

	At December 31,
(In thousands)	2020		2019
Unused lines of credit	$	351,876	$	340,703
Commitments to extend credits, primarily variable rate		1,831,671		1,579,414
Standby letters of credit		54,009		34,479
Loans sold with recourse		25,659		25,639

Since many loan commitments, standby letters of credit and guarantees and indemnification contracts expire without being funded in whole or in part, the contract amounts are not necessarily indicative of future cash flows. The Company does not issue any guarantees that would require liability-recognition or disclosure, other than its standby letters of credit.

The Company guarantees the obligations or performance of customers by issuing standby letters of credit to third-parties. These standby letters of credit are frequently issued in support of third-party debt, such as corporate debt issuances, industrial revenue bonds and municipal securities. The risk involved in issuing standby letters of credit is essentially the same as the credit risk involved in extending loan facilities to customers and letters of credit are subject to the same credit origination, portfolio maintenance and management procedures in effect to monitor other credit and off-balance sheet products. Typically, these instruments have one year expirations with an option to renew upon annual review; therefore, the total amounts do not necessarily represent future cash requirements. The fair value of the Company’s standby letters of credit at December 31, 2020 and 2019 was not significant.

In the normal course of business there are various outstanding legal proceedings. If legal costs are deemed material by management, the Company accrues for the estimated loss from a loss contingency if the information available indicates that it is probable that a liability had been incurred at the date of the financial statements and the amount of loss can be reasonably estimated.

The Company is required to maintain reserve balances with the Federal Reserve Bank. The required average total reserve for NBT Bank for the 14-day maintenance period ending December 30, 2020 was $64.6 million.

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities [Abstract]

Derivative Instruments and Hedging Activities

19. Derivative Instruments and Hedging Activities

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, primarily by managing the amount, sources and duration of its assets and liabilities and through the use of derivative instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to certain fixed rate borrowings. The Company also has interest rate derivatives that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk in the Company’s assets or liabilities. The Company manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions.

Derivatives Not Designated as Hedging Instruments

The Company enters into interest rate swaps to facilitate customer transactions and meet their financing needs. These swaps are considered derivatives, but are not designated in hedging relationships. These instruments have interest rate and credit risk associated with them. To mitigate the interest rate risk, the Company enters into offsetting interest rate swaps with counterparties. The counterparty swaps are also considered derivatives and are also not designated in hedging relationships. Interest rate swaps are recorded within other assets or other liabilities on the consolidated balance sheet at their estimated fair value. Changes to the fair value of assets and liabilities arising from these derivatives are included, net, in other operating income in the consolidated statement of income.

As of December 31, 2020 the Company had seventeen risk participation agreements with financial institution counterparties for interest rate swaps related to participated loans. The fair values included in other assets and other liabilities on the consolidated balance sheet applicable to these agreements amount to $292 thousand and $125 thousand, respectively as of December 31, 2020. As of December 31, 2019 the Company had fifteen risk participation agreements with financial institution counterparties for interest rate swaps related to participated loans. The fair values included in other assets and other liabilities on the consolidated balance sheet applicable to these agreements amount to $112 thousand and $82 thousand, respectively. Risk participation agreements provide credit protection to the financial institution that originated the swap transaction should the borrower fail to perform on its obligation. The Company enters into both risk participation agreements in which it purchases credit protection from other financial institutions and those in which it provides credit protection to other financial institutions.

Derivatives Designated as Hedging Instruments

The Company has entered into interest rate swaps to modify the interest rate characteristics of certain short-term FHLB advances from variable rate to fixed rate in order to reduce the impact of changes in future cash flows due to market interest rate changes. These agreements are designated as cash flow hedges.

The following table depicts the fair value adjustment recorded related to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements:

	December 31,
(In thousands)	2020		2019
Derivatives Not Designated as Hedging Instruments:
Fair value adjustment included in other assets and other liabilities
Interest rate derivatives	$	108,487	$	41,650
Notional amount
Interest rate derivatives		2,447,168		963,209
Risk participation agreements		112,313		97,614
Derivatives Designated as Hedging Instruments:
Fair value adjustment included in other assets
Interest rate derivatives		-		4
Fair value adjustment included in other liabilities
Interest rate derivatives		34		45
Notional amount
Interest rate derivatives		25,000		50,000

For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in AOCI and subsequently reclassified into interest expense in the same period during which the hedge transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s short-term rate borrowings. During the next twelve months, the Company estimates that an additional $21 thousand will be reclassified from AOCI as a reduction to interest expense.

The following table indicates the effect of cash flow hedge accounting on AOCI and on the consolidated statement of income:

	December 31,
(In thousands)	2020			2019			2018
Derivatives Designated as Hedging Instruments:
Interest rate derivatives - included component
Amount of (loss) gain recognized in OCI	$	(275	)	$	(459	)	$	1,218
Amount of loss (gain) reclassified from AOCI into interest expense		296			(2,012	)		(2,300	)

The following table indicates the gain or loss recognized in income on derivatives not designated as a hedging relationship:

	December 31,
(In thousands)	2020		2019		2018
Derivatives Not Designated as Hedging Instruments:
Increase (decrease) in other income	$	1	$	295	$	(120	)

Fair Values of Financial Instruments

12 Months Ended

Dec. 31, 2020

Fair Values of Financial Instruments [Abstract]

Fair Values of Financial Instruments

20. Fair Values of Financial Instruments

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).

A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The types of instruments valued based on quoted prices in markets that are not active, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency include most investment-grade and high-yield corporate bonds, less liquid mortgage products, less liquid agency securities, less liquid listed equities, state, municipal and provincial obligations and certain physical commodities. Such instruments are generally classified within Level 2 of the fair value hierarchy. Certain common equity securities are reported at fair value utilizing Level 1 inputs (exchange quoted prices). Other investment securities are reported at fair value utilizing Level 1 and Level 2 inputs. The prices for Level 2 instruments are obtained through an independent pricing service or dealer market participants with whom the Company has historically transacted both purchases and sales of investment securities. Prices obtained from these sources include prices derived from market quotations and matrix pricing. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Management reviews the methodologies used in pricing the securities by its third party providers.

The following tables sets 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		December 31, 2020
Assets:
AFS securities:
Federal agency	$	-	$	243,597	$	-	$	243,597
State & municipal		-		43,180		-		43,180
Mortgage-backed		-		595,839		-		595,839
Collateralized mortgage obligations		-		437,804		-		437,804
Corporate		-		28,278		-		28,278
Total AFS securities	$	-	$	1,348,698	$	-	$	1,348,698
Equity securities		28,737		2,000		-		30,737
Derivatives		-		108,779		-		108,779
Total	$	28,737	$	1,459,477	$	-	$	1,488,214

Liabilities:
Derivatives	$	-	$	108,646	$	-	$	108,646
Total	$	-	$	108,646	$	-	$	108,646

(In thousands)	Level 1		Level 2		Level 3		December 31, 2019
Assets:
AFS securities:
Federal agency	$	-	$	34,758	$	-	$	34,758
State & municipal		-		2,513		-		2,513
Mortgage-backed		-		503,626		-		503,626
Collateralized mortgage obligations		-		434,443		-		434,443
Total AFS securities	$	-	$	975,340	$	-	$	975,340
Equity securities		23,771		4,000		-		27,771
Derivatives		-		41,766		-		41,766
Total	$	23,771	$	1,021,106	$	-	$	1,044,877

Liabilities:
Derivatives	$	-	$	41,777	$	-	$	41,777
Total	$	-	$	41,777	$	-	$	41,777

GAAP requires disclosure of assets and liabilities measured and recorded at fair value on a non-recurring basis such as goodwill, loans held for sale, other real estate owned, collateral-dependent impaired loans, mortgage servicing rights and HTM securities. The non-recurring fair value measurements recorded during the years ended December 31, 2020 and 2019 were related to impaired loans, write-downs of other real estate owned and write-down of branch assets to fair value. The Company uses the fair value of underlying collateral, less costs to sell, to estimate the allowance for credit losses for individually evaluated collateral dependent loans. The appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses ranging from 10% to 50%. Based on the valuation techniques used, the fair value measurements for collateral dependent individually evaluated loans are classified as Level 3.

As of December 31, 2020 the Company had collateral dependent individually evaluated loans with a carrying value of $15.2 million, which had an estimated allowance for credit loss of $3.2 million. As of December 31, 2019 the Company had no collateral dependent loans.

During the year ended December 31, 2020, the Company recorded a $0.5 million write-off of branch locations due to a pending disposition of the locations. During the year ended December 31, 2019, the Company recorded a $1.0 million write-down of a branch location to fair value of $0.2 million due to a pending disposition of the location.

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.

		December 31, 2020				December 31, 2019
(In thousands)	Fair Value Hierarchy		Carrying Amount	Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
HTM securities	2	$	616,560	$	636,827	$	630,074	$	641,262
Net loans	3		7,390,004		7,530,033		7,074,864		6,999,690
Financial liabilities:
Time deposits	2	$	633,479	$	638,721	$	861,193	$	858,085
Long-term debt	2		39,097		39,820		64,211		64,373
Subordinated debt	1		100,000		103,277		-		-
Junior subordinated debt	2		101,196		108,926		101,196		105,694

Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, the Company has a substantial wealth operation that contributes net fee income annually. The wealth management operation is not considered a financial instrument and its value has not been incorporated into the fair value estimates. Other significant assets and liabilities include the benefits resulting from the low-cost funding of deposit liabilities as compared to the cost of borrowing funds in the market and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimate of fair value.

HTM Securities

The fair value of the Company’s HTM securities is primarily measured using information from a third-party pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things.

Net Loans

Net loans include portfolio loans and loans held for sale. Loans were first segregated by type and then further segmented into fixed and variable rate and loan quality categories. Expected future cash flows were projected based on contractual cash flows, adjusted for estimated prepayments, which also includes credit risk, illiquidity risk and other market factors to calculate the exit price fair value in accordance with ASC 820.

Time Deposits

The fair value of time deposits was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. The fair values of the Company’s time deposit liabilities do not take into consideration the value of the Company’s long-term relationships with depositors, which may have significant value.

Long-Term Debt

The fair value of long-term debt was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments.

Subordinated Debt

The fair value of subordinated debt has been measured using the observable market price as of the period reported.

Junior Subordinated Debt

The fair value of junior subordinated debt has been estimated using a discounted cash flow analysis.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Parent Company Financial Information [Abstract]

Parent Company Financial Information

12 Months Ended

Dec. 31, 2020

Parent Company Financial Information

21. Parent Company Financial Information

Condensed Balance Sheets

	December 31,
(In thousands)	2020		2019
Assets
Cash and cash equivalents	$	37,915	$	9,387
Equity securities, at estimated fair value		25,111		22,441
Investment in subsidiaries, on equity basis		1,345,317		1,209,752
Other assets		30,577		30,855
Total assets	$	1,438,920	$	1,272,435
Liabilities and Stockholders’ Equity
Total liabilities	$	251,302	$	152,038
Stockholders’ equity		1,187,618		1,120,397
Total liabilities and stockholders’ equity	$	1,438,920	$	1,272,435

Condensed Statements of Income

	Years Ended December 31,
(In thousands)	2020			2019			2018
Dividends from subsidiaries	$	77,000		$	50,200		$	43,000
Management fee from subsidiaries		4,151			7,981			7,907
Net securities (losses) gains		(483	)		165			399
Interest, dividends and other income		824			876			905
Total revenue	$	81,492		$	59,222		$	52,211
Operating expenses		11,825			14,262			14,226
Income before income tax benefit and equity in undistributed income of subsidiaries	$	69,667		$	44,960		$	37,985
Income tax benefit		(2,653	)		(1,588	)		(1,608	)
Equity in undistributed income of subsidiaries		32,068			74,473			72,973
Net income	$	104,388		$	121,021		$	112,566

Condensed Statements of Cash Flow

	Years Ended December 31,
(In thousands)	2020			2019			2018
Operating activities
Net income	$	104,388		$	121,021		$	112,566
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of premises and equipment		1,739			2,298			2,814
Excess tax benefit on stock-based compensation		(181	)		(409	)		(543	)
Stock-based compensation expense		4,581			4,210			3,936
Net securities losses (gains)		483			(165	)		(399	)
Equity in undistributed income of subsidiaries		(32,068	)		(74,473	)		(72,973	)
Bank owned life insurance income		(391	)		(398	)		(424	)
Amortization of subordinated debt issuance costs		230			-			-
Net change in other assets and other liabilities		(3,535	)		(1,573	)		(6,124	)
Net cash provided by operating activities	$	75,246		$	50,511		$	38,853
Investing activities
Investment in the Bank	$	(90,000	)	$	-		$	-
Proceeds from calls of equity securities		2,000			-			-
Proceeds on sales of equity securities		-			-			3,318
Purchases of equity securities		-			(93	)		(2	)
Net cash (used in) provided by investing activities	$	(88,000	)	$	(93	)	$	3,316
Financing activities
Proceeds from issuance of subordinated debt	$	100,000		$	-		$	-
Payment of subordinated debt issuance costs		(2,178	)		-			-
Proceeds from the issuance of shares to employee and other stock plans		184			725			1,296
Cash paid by employer for tax-withholding on stock issuance		(1,537	)		(1,622	)		(1,893	)
Purchases of treasury shares		(7,980	)		-			-
Cash dividends		(47,207	)		(46,010	)		(43,269	)
Net cash provided by (used in) financing activities	$	41,282		$	(46,907	)	$	(43,866	)
Net increase (decrease) in cash and cash equivalents	$	28,528		$	3,511		$	(1,697	)
Cash and cash equivalents at beginning of year		9,387			5,876			7,572
Cash and cash equivalents at end of year	$	37,915		$	9,387		$	5,876

A statement of changes in stockholders’ equity has not been presented since it is the same as the consolidated statement of changes in stockholders’ equity previously presented.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Allowance for Credit Losses –HTM Debt Securities

Allowance for Credit Losses –AFS Debt Securities

Loan Held for Sale and Loan Servicing

Loans

Allowance for Credit Losses - Loans

The following table illustrates the portfolio and class segments for the Company’s loan portfolio in 2020:

Portfolio Segment	Class
Commercial Loans	Commercial & Industrial Paycheck Protection Program Commercial Real Estate
Consumer Loans	Auto Other Consumer
Residential Loans

Commercial Loans

Consumer Loans

The Company offers a variety of Consumer loan products including Auto and Other Consumer loans.

Residential

Allowance for Credit Losses on Off-Balance Sheet Credit Exposures

Accrued Interest Receivable

Allowance for Loan Losses – Incurred Loss Method

Premises and Equipment

Leases

Operating lease ROU assets represent the Company’s right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets are further adjusted for lease incentives. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in occupancy expense in the consolidated statements of income.

Other Real Estate Owned

Goodwill and Other Intangible Assets

Bank-Owned Life Insurance

Treasury Stock

Income Taxes

Pension Costs

Stock-Based Compensation

Earnings Per Share

Comprehensive Income

Derivative Instruments and Hedging Activities

Fair Value Measurements

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).

A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

Other Financial Instruments

Repurchase Agreements

Revenue from Contracts with Customers

Service Charges on Deposit Accounts

ATM and Debit Card Fees

Retirement Plan Administration Fees

Wealth Management

Insurance Revenue

Other

The following table presents noninterest income, segregated by revenue streams in-scope and out-of-scope of ASC 606:

	Years Ended December 31,
(In thousands)	2020		2019		2018
Noninterest income
In-Scope of ASC 606:
Service charges on deposit accounts	$	13,201	$	17,151	$	17,224
ATM and debit card fees		25,960		23,893		22,699
Retirement plan administration fees		35,851		30,388		26,992
Wealth management		29,247		28,400		28,747
Insurance		14,757		15,770		15,122
Other		21,905		18,853		15,228
Total noninterest income in-scope of ASC 606	$	140,921	$	134,455	$	126,012
Total noninterest income out-of-scope of ASC 606	$	5,355	$	9,568	$	(1,250	)
Total noninterest income	$	146,276	$	144,023	$	124,762

Contract Balances

Contract Acquisition Costs

Trust Operations

Assets held by the Company in a fiduciary or agency capacity for its customers are not included in the accompanying consolidated balance sheets, since such assets are not assets of the Company.

Subsequent Events

The Company has evaluated subsequent events for potential recognition and/or disclosure and there were none identified.

Recent Accounting Pronouncements (Policies)	12 Months Ended
Recent Accounting Pronouncements (Policies)	Dec. 31, 2020
Recent Accounting Pronouncements [Abstract]
Recently Adopted Accounting Standards and Accounting Standards Issued Not Yet Adopted	Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and all related subsequent amendments thereto. ASU 2016-13 introduces new guidance that make substantive changes to the accounting for credit losses. ASU 2016-13 introduces the CECL model, which applies to financial assets subject to credit losses and measured at amortized cost, as well as certain off-balance sheet credit exposures. This includes loans, loan commitments, standby letters of credit, net investments in leases recognized by a lessor and HTM debt securities. The CECL model requires an entity to estimate credit losses expected over the life of an exposure, considering information about historical events, current conditions and reasonable and supportable forecasts and is generally expected to result in earlier recognition of credit losses. ASU 2016-13 also modifies certain provisions of the current other-than-temporary impairment model for AFS debt securities. Credit losses on AFS debt securities will be limited to the difference between the security’s amortized cost basis and its fair value and will be recognized through an allowance for credit losses rather than as a direct reduction in amortized cost basis. ASU 2016-13 also provides for a simplified accounting model for purchased financial assets with more than insignificant credit deterioration since their origination. ASU 2016-13 requires expanded disclosures including, but not limited to, (1) information about the methods and assumptions used to estimate expected credit losses, including changes in the factors that influenced management’s estimate and the reasons for those changes, (2) financing receivables and net investment in leases measured at amortized cost, further disaggregation of information about the credit quality of those assets and (3) a rollforward of the allowance for credit losses for HTM and AFS securities. The standard also changes the accounting for purchased credit-impaired debt securities and loans. ASU 2016-13 was effective for the Company on January 1, 2020. Management expects that the CECL model may create more volatility in the level of our allowance for loan losses from quarter to quarter as changes in the level of allowance for loan losses will be dependent upon, among other things, macroeconomic forecasts and conditions, loan portfolio volumes and credit quality. The Company adopted CECL on January 1, 2020 (“Day 1”) using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a net decrease to retained earnings of $4.3 million as of January 1, 2020 for the cumulative effect of adopting ASC 326. The transition adjustment includes a $3.0 million impact due to the allowance for credit losses on loans, a $2.8 million impact due to the allowance for credit losses on off-balance sheet credit exposure, and a $1.5 million impact to the deferred tax asset. The Company did not record an allowance for HTM debt securities on January 1, 2020 as the amount of credit risk was deemed immaterial. The Company did not record an allowance for credit losses on its AFS debt securities under the newly codified AFS debt security impairment model, as the majority of these securities are government agency-backed securities for which the risk of loss is minimal. Refer to Note 4 Securities and Note 6 Allowance for Credit Losses and Credit Quality of Loans to the Company’s consolidated financial statements included in this Form 10-K for more information. In December 2018, the Office of Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (“FDIC”) approved a final rule to address changes to credit loss accounting under GAAP, including banking organizations’ implementation of CECL. The final rule provides banking organizations the option to phase in over a three-year period the day-one adverse effects on regulatory capital that may result from the adoption of the new accounting standard. In March 2020, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC announced an interim final rule to delay the estimated impact on regulatory capital stemming from the implementation of CECL. The interim final rule maintains the three-year transition option in the previous rule and provides banks the option to delay for two years an estimate of CECL’s effect on regulatory capital, relative to the incurred loss methodology’s effect on regulatory capital, followed by a three-year transition period (five-year transition option). The Company adopted the capital transition relief over the permissible five-year period. On March 22, 2020, a statement was issued by the Company’s banking regulators and titled the “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus” that encourages financial institutions to work prudently with borrowers who are or may be unable to meet their contractual payment obligations due to the effects of the recent COVID-19 pandemic. Additionally, Section 4013 of the CARES Act, which was enacted on March 27, 2020, further provides that a qualified loan modification is exempt by law from classification as a troubled debt restructuring as defined by GAAP. To be eligible, each loan modification must be (1) related to the COVID-19 event; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (a) 60 days after the date of termination of the National Emergency or (b) December 31, 2020. On August 3, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) issued a joint statement on additional loan accommodations related to COVID-19. The joint statement clarifies that for loan modifications in which Section 4013 is being applied, subsequent modifications could also be eligible under Section 4013. Accordingly, the Company is offering modifications made in response to COVID-19 to borrowers who were current and otherwise not past due in accordance with the criteria stated in Section 4013. These include short-term, 180 days or less, modifications in the form of payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment. Accordingly, the Company did not account for such loan modifications as TDRs. As of December 31, 2020, there were $110.8 million in loans in modification programs related to COVID-19. On December 27, 2020, the Consolidated Appropriations Act amended section 2014 of the CARES Act extending the exemption of qualified loan modifications from classification as a troubled debt restructuring as defined by GAAP to the earlier of January 1, 2022, or 60 days after the National Emergency concerning COVID-19 ends. In August 2018, the FASB issued ASU 2018-13, Fair value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair value Measurement. The provisions of ASU 2018-13 modify the disclosure requirements on fair value measurements in ASC 820. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. ASU 2018-13 is effective January 1, 2020. The adoption did not have a material impact on the consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) – Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. ASU 2018-15 amends existing guidance and requires a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize and which costs to expense. ASU 2018-15 is effective for the Company on January 1, 2020. The adoption did not have a material impact on the consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans - General (Subtopic 715-20), provides changes to the disclosure requirements for defined benefit plans. The amended guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amendments are a result of the disclosure framework project that focuses on improvements to the effectiveness of disclosures in the notes to financial statements. The amendments remove and add certain disclosure requirements. The disclosure requirements being removed relating to public companies are: (1) the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year, (2) the amount and timing of plan assets expected to be returned to the employer, (3) the 2001 disclosure requirement relating to Japanese Welfare Pension Insurance Law, (4) related party disclosures about the amount of future annual benefits covered by insurance, and (5) the effects of a one-percentage-point change in assumed health care cost trends on the benefit cost and obligation. The disclosure requirements being added relating to public companies are (1) the weighted-average interest crediting rates for cash balance plans, and (2) an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. ASU 2018-14 is effective for the Company on January 1, 2021 and early adoption is permitted. The Company adopted the provisions of ASU 2018-14 as of December 31, 2020 and it did not have a material impact on its disclosures to the consolidated financial statements. Accounting Standards Issued Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. On January 7, 2021, the FASB issued ASU 2021-01, which refines the scope of ASC 848 and clarifies some of its guidance. The ASU and related amendments provide temporary optional expedients and exceptions to the existing guidance for applying GAAP to affected contract modifications and hedge accounting relationships in the transition away from the London Interbank Offered Rate (“LIBOR”) or other interbank offered rate on financial reporting. The guidance also allows a one-time election to sell and/or reclassify to AFS or trading HTM debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective March 12, 2020 through December 31, 2022 and permits relief solely for reference rate reform actions and permits different elections over the effective date for legacy and new activity. The Company is evaluating the impact of adopting the new guidance on the consolidated financial statements and does not expect it will have a material impact on the consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU removes specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether the following apply in a given period: (1) exception to the incremental approach for intraperiod tax allocation; (2) exceptions to accounting for basis differences when there are ownership changes in foreign investments; and (3) exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. The ASU also improves financial statement preparers’ application of income tax-related guidance and simplifies GAAP for: (1) franchise taxes that are partially based on income; (2) transactions with a government that result in a step up in the tax basis of goodwill; (3) separate financial statements of legal entities that are not subject to tax; and (4) enacted changes in tax laws in interim periods. The amendments in this ASU are effective for the Company on January 1, 2021, and interim periods within those fiscal years. Early adoption is permitted. The adoption did not have a material impact on the consolidated financial statements and related disclosures.

Securities (Policies)	12 Months Ended
Securities (Policies)	Dec. 31, 2020
Securities [Abstract]
Investment, Policy	The Company does not believe the AFS securities that were in an unrealized loss position as of December 31, 2020, which consisted of 23 individual securities, represented a credit loss impairment. AFS debt securities in unrealized loss positions are evaluated for impairment related to credit losses at least quarterly. As of December 31, 2020, the majority of the AFS securities in an unrealized loss position consisted of debt securities issued by U.S. government agencies or U.S. government-sponsored enterprises that carry the explicit and/or implicit guarantee of the U.S. government, which are widely recognized as “risk-free” and have a long history of zero credit losses. Total gross unrealized losses were primarily attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. The Company does not intend to sell, nor is it more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, which may be at maturity. The Company elected to exclude accrued interest receivable (“AIR”) from the amortized cost basis of debt securities disclosed throughout this footnote. AIR on AFS debt securities totaled $3.3 million at December 31, 2020 and is excluded from the estimate of credit losses and reported in the financial statement line for other assets. None of the bank’s HTM debt securities were past due or on nonaccrual status as of the year ended December 31, 2020. There was no accrued interest reversed against interest income for the year ended December 31, 2020 as all securities remained on accrual status. In addition, there were no collateral dependent HTM debt securities as of year ended December 31, 2020. 65% of the Company’s HTM debt securities are issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk-free,” and have a long history of zero credit loss. Therefore, the Company did not record an allowance for credit losses for these securities as of December 31, 2020. The remaining HTM debt securities at December 31, 2020 were comprised of state and municipal obligations with bond ratings of A to AAA. Utilizing the CECL approach, the Company determined that the expected credit loss on its HTM municipal bond portfolio was immaterial and therefore no allowance for credit loss was recorded as of December 31, 2020. AIR on HTM debt securities totaled $2.7 million at December 31, 2020 and is excluded from the estimate of credit losses and reported in the financial statement line for other assets.

Allowance for Credit Losses and Credit Quality of Loans (Policies)	12 Months Ended
	Dec. 31, 2020
Allowance for Credit Losses and Credit Quality of Loans [Abstract]
Allowance for Credit Losses	The Day 1 increase in the allowance for credit loss on loans relating to adoption of ASU 2016-13 was $3.0 million, which decreased retained earnings by $2.3 million and increased the deferred tax asset by $0.7 million. There were no loans purchased with credit deterioration during the year ended December 31, 2020. During 2020, the Company purchased $51.9 million of consumer loans at a 1% discount. The allowance for credit losses recorded for these loans on the purchase date was $3.6 million. The Company made a policy election to report AIR in the other assets line item on the balance sheet. AIR on loans totaled $23.7 million at December 31, 2020 and was included in the allowance for loan credit losses to estimate the impact of accrued interest receivable related to loans with modifications due to the pandemic as the length of time between interest recognition and the write-off of uncollectible interest could exceed 120 days, exempting these loans from our policy election for accrued interest receivable. The estimated allowance for credit losses related to AIR at December 31, 2020 was $0.6 million. The Day 1 and December 31, 2020 allowance for credit losses calculation incorporated a 6-quarter forecast period to account for forecast economic conditions under each scenario utilized in the measurement. For periods beyond the 6-quarter forecast, the model reverted to long-term economic conditions over a 4-quarter reversion period on a straight-line basis. The quantitative model as of December 31, 2020 incorporated a baseline economic outlook, along with alternative upside and downside scenarios sourced from a reputable third-party to accommodate other potential economic conditions in the model. The baseline outlook reflected an unemployment rate environment above pre-COVID-19 levels for the entire forecast period, though steadily improving, before returning to low single digits by the end of 2023. Northeast GDP’s annual growth was expected to start 2021 in the low to mid-single digits, with a peak growth rate of 8% in the fourth quarter of 2021 and steadily falling back down to normalized levels through 2023 and 2024. Other utilized economic variables show improvement in their respective forecasts, namely business output. Key assumptions in the baseline economic outlook included an additional stimulus package passed at the same timing and a comparable level to that of the actual $900 billion COVID-19 relief package passed in December 2020 along with no significant secondary surge in COVID-19 cases or pandemic-related business closures. The alternative downside scenario assumed deteriorated economic and epidemiological conditions from the baseline outlook. In the same way, the alternative upside scenario assumed a faster economic recovery and more effective management of the COVID-19 virus from the baseline outlook. These scenarios and their respective weightings are evaluated at each measurement date and reflect management’s expectations as of December 31, 2020. Additional adjustments were made for COVID-19 related factors not incorporated in the forecasts, such as the mitigating impact of unprecedented stimulus in 2020, including direct payments to individuals, increased unemployment benefits, the Company’s loan deferral and modification initiatives and various government-sponsored loan programs. The commercial & industrial and consumer segment models were based upon percent change in unemployment with modeled values as of December 31, 2020 well outside the observed historical experience. Therefore, adjustments were required to produce outputs more aligned with default expectations given the forecast economic environment. Additionally, the Company identified a slightly higher level of criticized and classified loans during 2020 than those contemplated by the model during similar economic conditions in the past for which an adjustment was made for estimated expected additional losses above modeled output. These factors were considered through a separate quantitative process and incorporated into the estimate for allowance for credit losses at December 31, 2020. The allowance for credit losses totaled $110.0 million at December 31, 2020, compared to $73.0 million at December 31, 2019. The allowance for credit losses as a percentage of loans was 1.47% at December 31, 2020, compared to 1.02% at December 31, 2019. The increase in the allowance for credit losses from January 1, 2020 to December 31, 2020 was primarily due to the deteriorated economic forecast due to the COVID-19 pandemic. The provision for loan losses was $51.1 million for the twelve months ended December 31, 2020, compared to $25.4 million for the twelve months ended December 31, 2019. The increase to provision expense was driven by the deteriorated economic forecast due to the COVID-19 pandemic. The Company expects that with the adoption of CECL beginning on January 1, 2020, provision expense may become more volatile due to changes in CECL model assumptions of credit quality, macroeconomic factors and conditions, and loan composition, which drive the allowance for credit losses balance. The increase in the allowance for credit losses from Day 1 to December 31, 2020 was primarily due to the deterioration of macroeconomic factors surrounding the COVID-19 pandemic. Individually Evaluated Loans As of December 31, 2020, there were five relationships identified to be evaluated for loss on an individual basis which had an amortized cost basis of $15.2 million. The allowance for credit loss was $3.2 million and was determined by an estimate of the fair value of the collateral which consisted of business assets (accounts receivable, inventory and machinery, real estate and equipment). As of Day 1, there were no relationships identified to be evaluated for loss on an individual basis. As of December 31, 2020, there were no loans in nonaccrual without an allowance for credit losses. Credit Quality Indicators The Company has developed an internal loan grading system to evaluate and quantify the Company’s loan portfolio with respect to quality and risk. The system focuses on, among other things, financial strength of borrowers, experience and depth of borrower’s management, primary and secondary sources of repayment, payment history, nature of the business and outlook on particular industries. The internal grading system enables the Company to monitor the quality of the entire loan portfolio on a consistent basis and provide management with an early warning system, enabling recognition and response to problem loans and potential problem loans. Commercial Grading System For C&I, PPP and CRE loans, the Company uses a grading system that relies on quantifiable and measurable characteristics when available. This includes comparison of financial strength to available industry averages, comparison of transaction factors (loan terms and conditions) to loan policy and comparison of credit history to stated repayment terms and industry averages. Some grading factors are necessarily more subjective such as economic and industry factors, regulatory environment and management. C&I and CRE loans are graded Doubtful, Substandard, Special Mention and Pass. The increase in non-pass credits from December 31, 2019 was primarily due to the Company’s proactive approach to downgrade loans that were both in payment deferral due to the COVID-19 pandemic and in higher risk industries such as entertainment, restaurants, retail, healthcare and accommodations. Doubtful A Doubtful loan has a high probability of total or substantial loss, but because of specific pending events that may strengthen the asset, its classification as a loss is deferred. Doubtful borrowers are usually in default, lack adequate liquidity or capital and lack the resources necessary to remain an operating entity. Pending events can include mergers, acquisitions, liquidations, capital injections, the perfection of liens on additional collateral, the valuation of collateral and refinancing. Generally, pending events should be resolved within a relatively short period and the ratings will be adjusted based on the new information. Nonaccrual treatment is required for Doubtful assets because of the high probability of loss. Substandard Substandard loans have a high probability of payment default or they have other well-defined weaknesses. They require more intensive supervision by bank management. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity or marginal capitalization. Repayment may depend on collateral or other credit risk mitigants. For some Substandard loans, the likelihood of full collection of interest and principal may be in doubt and those loans should be placed on nonaccrual. Although Substandard assets in the aggregate will have a distinct potential for loss, an individual asset’s loss potential does not have to be distinct for the asset to be rated Substandard. Special Mention Special Mention loans have potential weaknesses that may, if not checked or corrected, weaken the asset or inadequately protect the Company’s position at some future date. These loans pose elevated risk, but their weakness does not yet justify a Substandard classification. Borrowers may be experiencing adverse operating trends (i.e., declining revenues or margins) or may be struggling with an ill-proportioned balance sheet (i.e., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a Special Mention rating. Although a Special Mention loan has a higher probability of default than a Pass asset, its default is not imminent. Pass Loans graded as Pass encompass all loans not graded as Doubtful, Substandard or Special Mention. Pass loans are in compliance with loan covenants and payments are generally made as agreed. Pass loans range from superior quality to fair quality. Pass loans also include any portion of a government guaranteed loan, including PPP loans. Consumer and Residential Grading System Consumer and Residential loans are graded as either Nonperforming or Performing. Nonperforming Nonperforming loans are loans that are 1) over 90 days past due and interest is still accruing or 2) on nonaccrual status. Performing All loans not meeting any of the above criteria are considered Performing. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures As of December 31, 2020, the allowance for losses on unfunded commitments totaled $6.4 million, compared to $0.9 million as of December 31, 2019. Prior to January 1, 2020, the Company calculated the allowance for losses on unfunded commitments using the incurred loss methodology.
Troubled Debt Restructuring	Troubled Debt Restructuring When the Company modifies a loan in a troubled debt restructuring, such modifications generally include one or a combination of the following: an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; temporary reduction in the interest rate; or change in scheduled payment amount. Residential and Consumer TDRs occurring during 2020 were due to the reduction in the interest rate or extension of the term. An allowance for impaired commercial and consumer loans that have been modified in a TDR is measured based on the present value of the expected future cash flows, discounted at the contractual interest rate of the original loan agreement, except when the sole (remaining) source of repayment for the loan is the operation or liquidation of the collateral. In these cases, management uses the current fair value of the collateral, less selling costs. If management determines that the value of the modified loan is less than the recorded investment in the loan an impairment charge would be recorded. The Company began offering loan modifications to assist borrowers during the COVID-19 national emergency. The CARES Act, along with a joint agency statement issued by banking regulatory agencies, provides that modifications made in response to COVID-19 do not need to be accounted for as a TDR. The Company evaluated the modification programs provided to its borrowers and has concluded the modifications were generally made in accordance with the CARES Act guidance to borrowers who were in good standing prior to the COVID-19 pandemic and are not required to be designated as TDRs. See Note 2 Recent Accounting Pronouncements for more information.

Describes an entity's accounting policy and methodology for estimating its allowance for loan and lease losses, and its accounting policy for nonperforming loans. The description identifies the factors that influenced management of the entity in establishing the level of the allowance (for example, historical losses and existing economic conditions) and also may include discussion of the risk elements relevant to particular categories of receivables. The disclosure also may describe any liability the entity has recorded for off-balance sheet credit losses and may include the basis for determining each element of the allowance for loan and lease losses. The disclosure also could discuss the entity's policy for (1) placing loans on nonaccrual status (or discontinuing accrual of interest) and recording payments received on nonaccrual loans, and the policy for resuming accrual of interest, (2) charging-off uncollectible loans, and (3) determining past due or delinquency status (that is, whether past due status is based on how recently payments have been received or contractual terms).

Summary of Significant Accounting Policies [Abstract]

Employee Benefit Plans (Policies)	12 Months Ended
Employee Benefit Plans (Policies)	Dec. 31, 2020
Employee Benefit Plans [Abstract]
Postemployment Benefit Plans, Policy	The Company has a qualified, noncontributory, defined benefit pension plan (“the Plan”) covering substantially all of its employees at December 31, 2020. Benefits paid from the plan are based on age, years of service, compensation and social security benefits and are determined in accordance with defined formulas. The Company’s policy is to fund the Plan in accordance with Employee Retirement Income Security Act of 1974 standards. Assets of the Plan are invested in publicly traded stocks and mutual funds. Prior to January 1, 2000, the Plan was a traditional defined benefit plan based on final average compensation. On January 1, 2000, the Plan was converted to a cash balance plan with grandfathering provisions for existing participants. Effective March 1, 2013, the Plan was amended. Benefit accruals for participants who, as of January 1, 2000, elected to continue participating in the traditional defined benefit plan design were frozen as of March 1, 2013. In May 2013, the noncontributory, frozen, defined benefit pension plan assumed from Alliance in the acquisition was merged into the Plan. In addition to the Plan, the Company provides supplemental employee retirement plans to certain current and former executives. The Company also assumed supplemental retirement plans for certain former executives in the Alliance acquisition. These supplemental employee retirement plans and the Plan are collectively referred to herein as “Pension Benefits.” In addition, the Company provides certain health care benefits for retired employees. Benefits were accrued over the employees’ active service period. Only employees that were employed by the Company on or before January 1, 2000 are eligible to receive post-retirement health care benefits. The Plan is contributory for participating retirees, requiring participants to absorb certain deductibles and coinsurance amounts with contributions adjusted annually to reflect cost sharing provisions and benefit limitations called for in the Plan. Employees become eligible for these benefits if they reach normal retirement age while working for the Company. For eligible employees described above, the Company funds the cost of post-retirement health care as benefits are paid. The Company elected to recognize the transition obligation on a delayed basis over twenty years. In addition, the Company assumed post-retirement medical life insurance benefits for certain Alliance employees, retirees and their spouses, if applicable, in the Alliance acquisition. These post-retirement benefits are referred to herein as “Other Benefits.” Accounting standards require an employer to: (1) recognize the overfunded or underfunded status of defined benefit post-retirement plans, which is measured as the difference between plan assets at fair value and the benefit obligation, as an asset or liability in its balance sheet; (2) recognize changes in that funded status in the year in which the changes occur through comprehensive income; and (3) measure the defined benefit plan assets and obligations as of the date of its year-end balance sheet.

Fair Values of Financial Instruments (Policies)	12 Months Ended
Fair Values of Financial Instruments (Policies)	Dec. 31, 2020
Fair Values of Financial Instruments [Abstract]
Fair Value of Financial Instruments, Policy	GAAP states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value measurements are not adjusted for transaction costs. A fair value hierarchy exists within GAAP that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The types of instruments valued based on quoted market prices in active markets include most U.S. government and agency securities, many other sovereign government obligations, liquid mortgage products, active listed equities and most money market securities. Such instruments are generally classified within Level 1 or Level 2 of the fair value hierarchy. The Company does not adjust the quoted prices for such instruments. The types of instruments valued based on quoted prices in markets that are not active, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency include most investment-grade and high-yield corporate bonds, less liquid mortgage products, less liquid agency securities, less liquid listed equities, state, municipal and provincial obligations and certain physical commodities. Such instruments are generally classified within Level 2 of the fair value hierarchy. Certain common equity securities are reported at fair value utilizing Level 1 inputs (exchange quoted prices). Other investment securities are reported at fair value utilizing Level 1 and Level 2 inputs. The prices for Level 2 instruments are obtained through an independent pricing service or dealer market participants with whom the Company has historically transacted both purchases and sales of investment securities. Prices obtained from these sources include prices derived from market quotations and matrix pricing. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Management reviews the methodologies used in pricing the securities by its third party providers. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions. Valuations are adjusted to reflect illiquidity and/or non-transferability and such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate will be used. Management’s best estimate consists of both internal and external support on certain Level 3 investments. Subsequent to inception, management only changes Level 3 inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending third-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalizations and other transactions across the capital structure, offerings in the equity or debt markets and changes in financial ratios or cash flows. GAAP requires disclosure of assets and liabilities measured and recorded at fair value on a non-recurring basis such as goodwill, loans held for sale, other real estate owned, collateral-dependent impaired loans, mortgage servicing rights and HTM securities. The non-recurring fair value measurements recorded during the years ended December 31, 2020 and 2019 were related to impaired loans, write-downs of other real estate owned and write-down of branch assets to fair value. The Company uses the fair value of underlying collateral, less costs to sell, to estimate the allowance for credit losses for individually evaluated collateral dependent loans. The appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses ranging from 10% to 50%. Based on the valuation techniques used, the fair value measurements for collateral dependent individually evaluated loans are classified as Level 3. As of December 31, 2020 the Company had collateral dependent individually evaluated loans with a carrying value of $15.2 million, which had an estimated allowance for credit loss of $3.2 million. As of December 31, 2019 the Company had no collateral dependent loans. During the year ended December 31, 2020, the Company recorded a $0.5 million write-off of branch locations due to a pending disposition of the locations. During the year ended December 31, 2019, the Company recorded a $1.0 million write-down of a branch location to fair value of $0.2 million due to a pending disposition of the location. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, the Company has a substantial wealth operation that contributes net fee income annually. The wealth management operation is not considered a financial instrument and its value has not been incorporated into the fair value estimates. Other significant assets and liabilities include the benefits resulting from the low-cost funding of deposit liabilities as compared to the cost of borrowing funds in the market and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimate of fair value. HTM Securities The fair value of the Company’s HTM securities is primarily measured using information from a third-party pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Net Loans Net loans include portfolio loans and loans held for sale. Loans were first segregated by type and then further segmented into fixed and variable rate and loan quality categories. Expected future cash flows were projected based on contractual cash flows, adjusted for estimated prepayments, which also includes credit risk, illiquidity risk and other market factors to calculate the exit price fair value in accordance with ASC 820. Time Deposits The fair value of time deposits was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. The fair values of the Company’s time deposit liabilities do not take into consideration the value of the Company’s long-term relationships with depositors, which may have significant value. Long-Term Debt The fair value of long-term debt was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. Subordinated Debt The fair value of subordinated debt has been measured using the observable market price as of the period reported. Junior Subordinated Debt The fair value of junior subordinated debt has been estimated using a discounted cash flow analysis.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Portfolio and Class Segments

The following table illustrates the portfolio and class segments for the Company’s loan portfolio in 2020:

Portfolio Segment	Class
Commercial Loans	Commercial & Industrial Paycheck Protection Program Commercial Real Estate
Consumer Loans	Auto Other Consumer
Residential Loans

Noninterest Income, Segregated by Revenue Streams in-Scope and Out-of-Scope of ASC 606

The following table presents noninterest income, segregated by revenue streams in-scope and out-of-scope of ASC 606:

	Years Ended December 31,
(In thousands)	2020		2019		2018
Noninterest income
In-Scope of ASC 606:
Service charges on deposit accounts	$	13,201	$	17,151	$	17,224
ATM and debit card fees		25,960		23,893		22,699
Retirement plan administration fees		35,851		30,388		26,992
Wealth management		29,247		28,400		28,747
Insurance		14,757		15,770		15,122
Other		21,905		18,853		15,228
Total noninterest income in-scope of ASC 606	$	140,921	$	134,455	$	126,012
Total noninterest income out-of-scope of ASC 606	$	5,355	$	9,568	$	(1,250	)
Total noninterest income	$	146,276	$	144,023	$	124,762

Securities (Tables)

12 Months Ended

Dec. 31, 2020

Securities [Abstract]

Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of Available for Sale ("AFS") Securities

The amortized cost, estimated fair value and unrealized gains (losses) of AFS securities are as follows:

(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
As of December 31, 2020
Federal agency	$	245,590	$	59	$	2,052	$	243,597
State & municipal		42,550		630		-		43,180
Mortgage-backed:
Government-sponsored enterprises		521,448		17,079		22		538,505
U.S. government agency securities		55,049		2,332		47		57,334
Collateralized mortgage obligations:
Government-sponsored enterprises		311,710		7,549		58		319,201
U.S. government agency securities		114,864		3,739		-		118,603
Corporate		27,500		778		-		28,278
Total AFS securities	$	1,318,711	$	32,166	$	2,179	$	1,348,698
As of December 31, 2019
Federal agency	$	34,998	$	3	$	243	$	34,758
State & municipal		2,533		-		20		2,513
Mortgage-backed:
Government-sponsored enterprises		453,614		4,982		239		458,357
U.S. government securities		44,758		667		156		45,269
Collateralized mortgage obligations:
Government-sponsored enterprises		328,499		1,949		467		329,981
U.S. government securities		104,152		718		408		104,462
Total AFS securities	$	968,554	$	8,319	$	1,533	$	975,340

Components of Net Realized Gains (Losses) on Sale of AFS Securities

The components of net realized gains (losses) on AFS securities are as follows. These amounts were reclassified out of AOCI and into earnings.

	Years Ended December 31,
(In thousands)	2020		2019			2018
Gross realized gains	$	3	$	73		$	-
Gross realized (losses)		-		(152	)		(6,622	)
Net AFS realized gains (losses)	$	3	$	(79	)	$	(6,622	)

Amortized Cost, Estimated Fair Value, and Unrealized Gains (Losses) of Held to Maturity Securities

The amortized cost, estimated fair value and unrealized gains (losses) of HTM securities are as follows:

(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
As of December 31, 2020
Federal agency	$	100,000	$	-	$	1,658	$	98,342
Mortgage-backed:
Government-sponsored enterprises		107,914		4,583		-		112,497
U.S. government agency securities		11,533		979		-		12,512
Collateralized mortgage obligations:
Government-sponsored enterprises		103,105		4,477		-		107,582
U.S. government agency securities		79,145		3,950		-		83,095
State & municipal		214,863		7,953		17		222,799
Total HTM securities	$	616,560	$	21,942	$	1,675	$	636,827
As of December 31, 2019
Mortgage-backed:
Government-sponsored enterprises	$	149,448	$	3,184	$	155	$	152,477
U.S. government agency securities		13,667		584		-		14,251
Collateralized mortgage obligations:
Government-sponsored enterprises		189,402		2,165		368		191,199
U.S. government agency securities		110,498		3,256		100		113,654
State & municipal		167,059		2,628		6		169,681
Total HTM securities	$	630,074	$	11,817	$	629	$	641,262

Gains and (Losses) on Equity Securities

The following tables set forth information with regard to gains and (losses) on equity securities:

	Years Ended December 31,
(In thousands)	2020			2019
Net (losses) and gains recognized on equity securities	$	(414	)	$	4,280
Less: Net gains recognized during the period on equity securities sold during the period		-			3,966
Unrealized (losses) and gains recognized on equity securities still held	$	(414	)	$	314

Contractual Maturities of Debt Securities

The following tables set forth information with regard to contractual maturities of debt securities at December 31, 2020:

(In thousands)	Amortized Cost		Estimated Fair Value
AFS debt securities:
Within one year	$	438	$	449
From one to five years		21,476		22,324
From five to ten years		545,330		551,215
After ten years		751,467		774,710
Total AFS debt securities	$	1,318,711	$	1,348,698
HTM debt securities:
Within one year	$	18,088	$	18,104
From one to five years		58,963		60,483
From five to ten years		231,927		237,275
After ten years		307,582		320,965
Total HTM debt securities	$	616,560	$	636,827

Investment Securities with Unrealized Losses

	Less Than 12 Months							12 Months or Longer							Total
(In thousands)	Fair Value		Unrealized Losses			Number of Positions		Fair Value		Unrealized Losses			Number of Positions		Fair Value		Unrealized Losses			Number of Positions
As of December 31, 2020
AFS securities:
Federal agency	$	148,537	$	(2,052	)		10	$	-	$	-			-	$	148,537	$	(2,052	)		10
Mortgage-backed		47,269		(60	)		3		800		(9	)		4		48,069		(69	)		7
Collateralized mortgage obligations		17,837		(58	)		6		-		-			-		17,837		(58	)		6
Total securities with unrealized losses	$	213,643	$	(2,170	)		19	$	800	$	(9	)		4	$	214,443	$	(2,179	)		23

HTM securities:
Federal agency	$	98,342	$	(1,658	)		4	$	-	$	-			-	$	98,342	$	(1,658	)		4
State & municipal		4,805		(17	)		5		-		-			-		4,805		(17	)		5
Total securities with unrealized losses	$	103,147	$	(1,675	)		9	$	-	$	-			-	$	103,147	$	(1,675	)		9

As of December 31, 2019
AFS securities:
Federal agency	$	14,891	$	(109	)		2	$	9,866	$	(134	)		1	$	24,757	$	(243	)		3
State & municipal		2,503		(20	)		1		-		-			-		2,503		(20	)		1
Mortgage-backed		67,986		(273	)		21		37,745		(122	)		16		105,731		(395	)		37
Collateralized mortgage obligations		113,121		(316	)		24		49,632		(559	)		17		162,753		(875	)		41
Total securities with unrealized losses	$	198,501	$	(718	)		48	$	97,243	$	(815	)		34	$	295,744	$	(1,533	)		82

HTM securities:
Mortgage-backed	$	-	$	-			-	$	25,370	$	(155	)		2	$	25,370	$	(155	)		2
Collateralized mortgage obligations		18,040		(181	)		3		22,389		(287	)		5		40,429		(468	)		8
State & municipal		2,257		(6	)		4		-		-			-		2,257		(6	)		4
Total securities with unrealized losses	$	20,297	$	(187	)		7	$	47,759	$	(442	)		7	$	68,056	$	(629	)		14

Loans (Tables)

12 Months Ended

Dec. 31, 2020

Loans [Abstract]

Loans, Net of Deferred Fees and Origination Costs

A summary of loans, net of deferred fees and origination costs, by category is as follows:

	At December 31,
(In thousands)	2020		2019
Commercial	$	1,267,679	$	1,302,209
Commercial Real Estate		2,380,358		2,142,057
Paycheck Protection Program		430,810		-
Residential Real Estate		1,466,662		1,445,156
Indirect Auto		931,286		1,193,635
Specialty Lending		579,644		542,063
Home Equity		387,974		444,082
Other Consumer		54,472		66,896
Total loans	$	7,498,885	$	7,136,098

Related Party Loans

(In thousands)	2020			2019
Balance at January 1	$	2,166		$	1,638
New loans		1,524			587
Adjustment due to change in composition of related parties		2,448			389
Repayments		(202	)		(448	)
Balance at December 31	$	5,936		$	2,166

Allowance for Credit Losses and Credit Quality of Loans (Tables)

12 Months Ended

Dec. 31, 2020

Allowance for Credit Losses and Credit Quality of Loans [Abstract]

Allowance for Loan Losses by Portfolio

The following table illustrate the changes in the allowance for credit losses by our portfolio segments:

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of January 1, 2020 (after adoption of ASC 326)	$	27,156		$	32,122		$	16,721		$	75,999
Charge-offs		(4,005	)		(21,938	)		(1,135	)		(27,078	)
Recoveries		786			8,541			618			9,945
Provision		27,005			19,078			5,051			51,134
Ending Balance as of December 31, 2020	$	50,942		$	37,803		$	21,255		$	110,000

The following tables illustrate the changes in the allowance for loan losses by our portfolio segments:

(In thousands)	Commercial Loans			Consumer Loans			Residential Real Estate			Total
Balance as of December 31, 2018	$	32,759		$	37,178		$	2,568		$	72,505
Charge-offs		(3,151	)		(28,398	)		(991	)		(32,540	)
Recoveries		534			6,913			141			7,588
Provision		4,383			19,954			1,075			25,412
Ending Balance as of December 31, 2019	$	34,525		$	35,647		$	2,793		$	72,965

Balance as of December 31, 2017	$	27,606		$	36,830		$	5,064		$	69,500
Charge-offs		(3,463	)		(29,752	)		(913	)		(34,128	)
Recoveries		1,178			6,821			306			8,305
Provision		7,438			23,279			(1,889	)		28,828
Ending Balance as of December 31, 2018	$	32,759		$	37,178		$	2,568		$	72,505

The following table illustrates the allowance for loan losses and the recorded investment by portfolio segments:

(In thousands)	Commercial Loans		Consumer Loans		Residential Real Estate		Total
As of December 31, 2019
Allowance for loan losses	$	34,525	$	35,647	$	2,793	$	72,965
Allowance for loans individually evaluated for impairment		-		-		-		-
Allowance for loans collectively evaluated for impairment	$	34,525	$	35,647	$	2,793	$	72,965
Ending balance of loans	$	3,444,266	$	2,246,676	$	1,445,156	$	7,136,098
Ending balance of originated loans individually evaluated for impairment		3,488		7,044		7,721		18,253
Ending balance of acquired loans collectively evaluated for impairment		115,266		23,733		125,879		264,878
Ending balance of originated loans collectively evaluated for impairment	$	3,325,512	$	2,215,899	$	1,311,556	$	6,852,967

Past due and Nonperforming Loans by Loan Class

The following table sets forth information with regard to past due and nonperforming loans by loan segment:

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of December 31, 2020
Commercial Loans:
C&I	$	2,235	$	2,394	$	23	$	4,652	$	4,278	$	1,116,686	$	1,125,616
CRE		682		-		470		1,152		19,971		2,391,162		2,412,285
PPP		-		-		-		-		-		430,810		430,810
Total Commercial Loans	$	2,917	$	2,394	$	493	$	5,804	$	24,249	$	3,938,658	$	3,968,711
Consumer Loans:
Auto	$	9,125	$	1,553	$	866	$	11,544	$	2,730	$	877,831	$	892,105
Other Consumer		3,711		1,929		1,272		6,912		290		640,952		648,154
Total Consumer Loans	$	12,836	$	3,482	$	2,138	$	18,456	$	3,020	$	1,518,783	$	1,540,259
Residential	$	2,719	$	309	$	518	$	3,546	$	17,378	$	1,968,991	$	1,989,915
Total Loans	$	18,472	$	6,185	$	3,149	$	27,806	$	44,647	$	7,426,432	$	7,498,885

The following table sets forth information with regard to past due and nonperforming loans by loan class:

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of December 31, 2019
Originated
Commercial Loans:
C&I	$	1,227	$	-	$	-	$	1,227	$	1,177	$	838,502	$	840,906
CRE		3,576		-		-		3,576		4,847		1,941,143		1,949,566
Business Banking		794		162		-		956		7,035		530,537		538,528
Total Commercial Loans	$	5,597	$	162	$	-	$	5,759	$	13,059	$	3,310,182	$	3,329,000
Consumer Loans:
Indirect Auto	$	11,860	$	2,108	$	1,005	$	14,973	$	2,175	$	1,176,487	$	1,193,635
Specialty Lending		3,153		2,087		1,307		6,547		-		535,516		542,063
Direct		2,564		564		478		3,606		2,475		481,164		487,245
Total Consumer Loans	$	17,577	$	4,759	$	2,790	$	25,126	$	4,650	$	2,193,167	$	2,222,943
Residential Real Estate	$	1,179	$	190	$	663	$	2,032	$	5,872	$	1,311,373	$	1,319,277
Total Originated Loans	$	24,353	$	5,111	$	3,453	$	32,917	$	23,581	$	6,814,722	$	6,871,220

Acquired
Commercial Loans:
C&I	$	149	$	-	$	-	$	149	$	-	$	19,215	$	19,364
CRE		-		-		-		-		-		60,937		60,937
Business Banking		397		287		-		684		382		33,899		34,965
Total Commercial Loans	$	546	$	287	$	-	$	833	$	382	$	114,051	$	115,266
Consumer Loans:
Direct	$	136	$	58	$	-	$	194	$	105	$	23,434	$	23,733
Total Consumer Loans	$	136	$	58	$	-	$	194	$	105	$	23,434	$	23,733
Residential Real Estate	$	575	$	20	$	264	$	859	$	1,106	$	123,914	$	125,879
Total Acquired Loans	$	1,257	$	365	$	264	$	1,886	$	1,593	$	261,399	$	264,878

Total Loans	$	25,610	$	5,476	$	3,717	$	34,803	$	25,174	$	7,076,121	$	7,136,098

Financing Receivable Credit Quality by Loan Class

The following tables illustrate the Company’s credit quality by loan class by vintage as of December 31, 2020:

(In thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
C&I
By Internally Assigned Grade:
Pass	$	331,921	$	182,329	$	91,230	$	41,856	$	32,625	$	32,609	$	322,674	$	412	$	1,035,656
Special Mention		20,064		6,534		5,053		4,702		1,624		2,830		13,614		-		54,421
Substandard		338		6,364		10,219		3,388		791		4,272		9,945		14		35,331
Doubtful		-		-		-		207		-		1		-		-		208
Total C&I	$	352,323	$	195,227	$	106,502	$	50,153	$	35,040	$	39,712	$	346,233	$	426	$	1,125,616

CRE
By Internally Assigned Grade:
Pass	$	469,919	$	361,187	$	256,154	$	271,874	$	212,197	$	383,690	$	113,128	$	4,034	$	2,072,183
Special Mention		2,051		44,034		22,260		55,039		36,830		43,537		1,297		11,524		216,572
Substandard		536		5,307		18,298		15,691		6,018		62,168		1,501		4,642		114,161
Doubtful		-		1,897		-		-		-		7,472		-		-		9,369
Total CRE	$	472,506	$	412,425	$	296,712	$	342,604	$	255,045	$	496,867	$	115,926	$	20,200	$	2,412,285

PPP
By Internally Assigned Grade:
Pass	$	430,810	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	430,810
Total PPP	$	430,810	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	430,810

Auto
By Payment Activity:
Performing	$	197,881	$	314,034	$	201,850	$	115,977	$	45,495	$	13,250	$	22	$	-	$	888,509
Nonperforming		359		1,140		1,135		525		437		-		-		-		3,596
Total Auto	$	198,240	$	315,174	$	202,985	$	116,502	$	45,932	$	13,250	$	22	$	-	$	892,105

Other Consumer
By Payment Activity:
Performing	$	234,628	$	178,411	$	127,549	$	55,676	$	14,255	$	17,414	$	18,588	$	71	$	646,592
Nonperforming		339		418		307		265		90		133		10		-		1,562
Total Other Consumer	$	234,967	$	178,829	$	127,856	$	55,941	$	14,345	$	17,547	$	18,598	$	71	$	648,154

Residential
By Payment Activity:
Performing	$	237,338	$	210,505	$	213,437	$	182,993	$	164,424	$	684,495	$	268,878	$	9,991	$	1,972,061
Nonperforming		1,245		659		2,318		2,535		902		10,195		-		-		17,854
Total Residential	$	238,583	$	211,164	$	215,755	$	185,528	$	165,326	$	694,690	$	268,878	$	9,991	$	1,989,915

Total Loans	$	1,927,429	$	1,312,819	$	949,810	$	750,728	$	515,688	$	1,262,066	$	749,657	$	30,688	$	7,498,885

(In thousands)	As of December 31, 2019
Originated
Commercial Credit Exposure
By Internally Assigned Grade:	C&I		CRE		Total
Pass	$	782,763	$	1,868,678	$	2,651,441
Special Mention		28,380		30,519		58,899
Substandard		29,257		50,369		79,626
Doubtful		506		-		506
Total	$	840,906	$	1,949,566	$	2,790,472

Business Banking Credit Exposure	Business
By Internally Assigned Grade:	Banking		Total
Non-classified	$	524,725	$	524,725
Classified		13,803		13,803
Total	$	538,528	$	538,528

Consumer Credit Exposure			Specialty
By Payment Activity:	Indirect Auto		Lending		Direct		Total
Performing	$	1,190,455	$	540,756	$	484,292	$	2,215,503
Nonperforming		3,180		1,307		2,953		7,440
Total	$	1,193,635	$	542,063	$	487,245	$	2,222,943

Residential Real Estate Credit Exposure	Residential
By Payment Activity:	Real Estate		Total
Performing	$	1,312,742	$	1,312,742
Nonperforming		6,535		6,535
Total	$	1,319,277	$	1,319,277

Acquired
Commercial Credit Exposure
By Internally Assigned Grade:	C&I		CRE		Total
Pass	$	17,801	$	60,545	$	78,346
Special Mention		1,269		-		1,269
Substandard		294		392		686
Total	$	19,364	$	60,937	$	80,301

Business Banking Credit Exposure	Business
By Internally Assigned Grade:	Banking		Total
Non-classified	$	32,030	$	32,030
Classified		2,935		2,935
Total	$	34,965	$	34,965

Consumer Credit Exposure
By Payment Activity:	Direct		Total
Performing	$	23,628	$	23,628
Nonperforming		105		105
Total	$	23,733	$	23,733

Residential Real Estate Credit Exposure	Residential
By Payment Activity:	Real Estate		Total
Performing	$	124,509	$	124,509
Nonperforming		1,370		1,370
Total	$	125,879	$	125,879

Troubled Debt Restructurings on Financing Receivables

	Year Ended December 31, 2020
(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial Loans:
C&I		1	$	22	$	22
Total Commercial Loans		1	$	22	$	22
Consumer Loans:
Auto		1	$	44	$	44
Total Consumer Loans		1	$	44	$	44
Residential		35	$	2,834	$	2,960
Total Troubled Debt Restructurings		37	$	2,900	$	3,026

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the year:

	Year Ended December 31, 2020
(Dollars in thousands)	Number of Contracts		Recorded Investment
Commercial Loans:
C&I		1	$	387
CRE		1		168
Total Commercial Loans		2	$	555
Consumer Loans:
Auto		1	$	6
Total Consumer Loans		1	$	6
Residential		61	$	3,213
Total Trouble Debt Restructurings		64	$	3,774

	Year Ended December 31, 2019
(Dollars in thousands)	Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Commercial Loans:
C&I		1	$	65	$	65
CRE		1		402		402
Business Banking		3		425		431
Total Commercial Loans		5	$	892	$	898
Consumer Loans:
Indirect Auto		9	$	134	$	134
Direct		11		450		480
Total Consumer Loans		20	$	584	$	614
Residential Real Estate		12	$	1,032	$	1,091
Total Troubled Debt Restructurings		37	$	2,508	$	2,603

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the period:

	Year Ended December 31, 2019
(Dollars in thousands)	Number of Contracts		Recorded Investment
Consumer Loans:
Indirect Auto		3	$	18
Direct		29		1,385
Total Consumer Loans		32	$	1,403
Residential Real Estate		23	$	1,203
Total Troubled Debt Restructurings		55	$	2,606

Impaired Loans and Specific Reserve Allocations

The following table provides information on loans specifically evaluated for impairment:

	December 31, 2019
(In thousands)	Recorded Investment Balance (Book)		Unpaid Principal Balance (Legal)		Related Allowance
Originated
With no related allowance recorded:
Commercial Loans:
C&I	$	76	$	302
CRE		2,410		2,437		-
Business Banking		1,002		1,443
Total Commercial Loans	$	3,488	$	4,182
Consumer Loans:
Indirect Auto	$	154	$	242
Direct		6,862		8,335
Specialty Lending		28		28
Total Consumer Loans	$	7,044	$	8,605
Residential Real Estate	$	7,721	$	9,754
Total	$	18,253	$	22,541

Total Loans	$	18,253	$	22,541	$	-

The following table summarizes the average recorded investments on loans specifically evaluated for impairment and the interest income recognized:

	December 31, 2019				December 31, 2018
(In thousands)	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Originated
Commercial Loans:
C&I	$	242	$	1	$	453	$	1
CRE		3,311		123		4,078		128
Business Banking		1,089		24		1,018		26
Total Commercial Loans	$	4,642	$	148	$	5,549	$	155
Consumer Loans:
Indirect Auto	$	192	$	10	$	179	$	10
Direct		7,387		382		7,922		431
Specialty Lending		7		1		-		-
Total Consumer Loans	$	7,586	$	393	$	8,101	$	441
Residential Real Estate	$	7,505	$	350	$	6,779	$	305
Total Originated	$	19,733	$	891	$	20,429	$	901

Total Loans	$	19,733	$	891	$	20,429	$	901

Premises, Equipment and Leases (Tables)

12 Months Ended

Dec. 31, 2020

Premises, Equipment and Leases [Abstract]

Summary of Premises and Equipment

A summary of premises and equipment follows:

	December 31,
(In thousands)	2020		2019
Land, buildings and improvements	$	125,002	$	121,479
Equipment		55,195		58,431
Premises and equipment before accumulated depreciation	$	180,197	$	179,910
Accumulated depreciation		105,991		104,279
Total premises and equipment	$	74,206	$	75,631

Net Lease Cost

The table below summarizes our net lease cost:

	December 31,
(In thousands)	2020			2019
Operating lease cost	$	7,382		$	7,239
Variable lease cost		2,141			2,231
Short-term lease cost		453			356
Sublease income		(502	)		(448	)
Total premises and equipment	$	9,474		$	9,378

Future Minimum Rental Commitments Related to Non-cancelable Operating Leases

The table below show future minimum rental commitments related to non-cancelable operating leases for the next five years and thereafter as of December 31, 2020.

(In thousands)
2021	$	7,209
2022		6,339
2023		5,251
2024		4,581
2025		3,411
Thereafter		10,023
Total lease payments	$	36,814
Less: interest		(3,990	)
Present value of lease liabilities	$	32,824

Additional Information for Operating Leases

	December 31,
(In thousands except for percent and period data)	2020			2019
Weighted average remaining lease term, in years		7.21			7.69
Weighted average discount rate		3.02	%		3.00	%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,934		$	6,211
ROU assets obtained in exchange for lease liabilities		3,441			41,008

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Other Intangible Assets [Abstract]

Summary of Goodwill

A summary of goodwill is as follows:

(In thousands)
January 1, 2020	$	274,769
Goodwill acquired		5,772
December 31, 2020	$	280,541

January 1, 2019	$	274,769
Goodwill acquired		-
December 31, 2019	$	274,769

Summary of Core Deposit and Other Intangible Assets

A summary of core deposit and other intangible assets follows:

	December 31,
(In thousands)	2020		2019
Core deposit intangibles:
Gross carrying amount	$	8,951	$	8,951
Less: accumulated amortization		8,463		7,988
Net carrying amount	$	488	$	963

Identified intangible assets:
Gross carrying amount	$	27,057	$	34,623
Less: accumulated amortization		15,810		23,566
Net carrying amount	$	11,247	$	11,057

Total intangibles:
Gross carrying amount	$	36,008	$	43,574
Less: accumulated amortization		24,273		31,554
Net carrying amount	$	11,735	$	12,020

Deposits (Tables)

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Maturity Distribution of Time Deposits

The following table sets forth the maturity distribution of time deposits:

(In thousands)	December 31, 2020
Within one year	$	476,983
After one but within two years		77,081
After two but within three years		36,857
After three but within four years		27,888
After four but within five years		14,381
After five years		289
Total	$	633,479

Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Borrowings [Abstract]

Information related to short-term borrowings is summarized as follows as of December 31:

(Dollars in thousands)	2020			2019			2018
Federal funds purchased:
Balance at year-end	$	-		$	65,000		$	80,000
Average during the year		14,727			47,137			66,839
Maximum month end balance		40,000			80,000			80,000
Weighted average rate during the year		2.05	%		3.90	%		3.43	%
Weighted average rate at year-end		-			2.84	%		4.25	%

Securities sold under repurchase agreements:
Balance at year-end	$	143,386		$	143,775		$	160,696
Average during the year		154,383			123,337			146,135
Maximum month end balance		176,840			146,410			170,350
Weighted average rate during the year		0.17	%		0.33	%		0.16	%
Weighted average rate at year-end		0.20	%		0.40	%		0.38	%

Other short-term borrowings:
Balance at year-end	$	25,000		$	446,500		$	631,000
Average during the year		183,699			403,453			514,662
Maximum month end balance		366,500			576,000			653,000
Weighted average rate during the year		1.55	%		1.85	%		1.56	%
Weighted average rate at year-end		1.99	%		1.73	%		1.82	%

Summary of Long-term Debt

(Dollars in thousands)	December 31, 2020			December 31, 2019
Maturity	Amount		Weighted Average Rate	Amount		Weighted Average Rate
2020	$	-	-	$	25,000	2.34%
2021		25,003	2.56%		25,021	2.56%
2022		10,598	2.53%		10,598	2.53%
2031		3,496	2.45%		3,592	2.45%
Total	$	39,097		$	64,211

Subordinated Debt

The following table summarizes the Company’s subordinated debt:

(Dollars in thousands)		December 31, 2020
Subordinated notes issued June 2020 – fixed interest rate of 5.00% through June 2025 and a variable interest rate equivalent to three-month SOFR plus 4.85% thereafter, maturing July 1, 2030	-	$	100,000
Unamortized debt issuance costs			(1,948	)
Total subordinated debt, net		$	98,052

Schedule of Debt of VIE where Entity is not Primary Beneficiary

As of December 31, 2020, the Trusts had the following trust preferred securities outstanding and held the following junior subordinated debentures of the Company (dollars in thousands):

Description	Issuance Date	Trust Preferred Securities Outstanding		Interest Rate	Trust Preferred Debt Owed To Trust		Final Maturity Date
CNBF Capital Trust I	August 1999	$	18,000	3-month LIBOR plus 2.75%	$	18,720	August 2029
NBT Statutory Trust I	November 2005		5,000	3-month LIBOR plus 1.40%		5,155	December 2035
NBT Statutory Trust II	February 2006		50,000	3-month LIBOR plus 1.40%		51,547	March 2036
Alliance Financial Capital Trust I	December 2003		10,000	3-month LIBOR plus 2.85%		10,310	January 2034
Alliance Financial Capital Trust II	September 2006		15,000	3-month LIBOR plus 1.65%		15,464	September 2036

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

Components of Income Tax Expense Attributable to Operations

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

The significant components of income tax expense attributable to operations are as follows:

	Years Ended December 31,
(In thousands)	2020			2019			2018
Current
Federal	$	36,358		$	28,475		$	15,762
State		9,768			7,653			5,977
Total Current	$	46,126		$	36,128		$	21,739

Deferred
Federal	$	(14,021	)	$	(1,379	)	$	2,281
State		(3,406	)		(338	)		416
Total Deferred	$	(17,427	)	$	(1,717	)	$	2,697
Total income tax expense	$	28,699		$	34,411		$	24,436

Components of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

	December 31,
(In thousands)	2020		2019
Deferred tax assets:
Allowance for loan losses	$	27,282	$	18,535
Lease liability		8,141		9,331
Deferred compensation		11,602		8,336
Postretirement benefit obligation		1,511		1,631
Fair value adjustments from acquisitions		259		422
Loan fees		5,400		1,384
Accrued liabilities		1,307		1,176
Stock-based compensation expense		3,213		3,032
Other		3,558		1,498
Total deferred tax assets	$	62,273	$	45,345
Deferred tax liabilities:
Pension benefits	$	14,406	$	13,014
Lease right-of-use asset		6,567		9,259
Amortization of intangible assets		12,725		12,202
Premises and equipment, primarily due to accelerated depreciation		4,774		5,137
Unrealized gain on securities		7,732		1,770
Other		952		1,429
Total deferred tax liabilities	$	47,156	$	42,811
Net deferred tax asset at year-end	$	15,117	$	2,534
Net deferred tax asset at beginning of year		2,534		8,795
Increase (decrease) in net deferred tax asset	$	12,583	$	(6,261	)

Reconciliation of the Provision for Income taxes to the Amount Computed by Applying the Federal Statutory Rate

The following is a reconciliation of the provision for income taxes to the amount computed by applying the applicable Federal statutory rate to income before taxes:

	Years Ended December 31
(In thousands)	2020			2019			2018
Federal income tax at statutory rate	$	27,948		$	32,641		$	28,770
Tax exempt income		(981	)		(1,233	)		(1,456	)
Net increase in cash surrender value of life insurance		(1,135	)		(927	)		(973	)
Federal tax credit		(1,705	)		(1,458	)		(1,499	)
State taxes, net of federal tax benefit		5,026			5,773			5,051
Accounting method changes - tax rate change impact		-			-			(5,326	)
Stock-based compensation, excess tax benefit		(152	)		(342	)		(456	)
Other, net		(302	)		(43	)		325
Income tax expense	$	28,699		$	34,411		$	24,436

Reconciliation of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of Federal and State gross unrecognized tax benefits (“UTBs”) is as follows:

(In thousands)	2020		2019
Balance at January 1	$	779	$	641
Additions for tax positions of prior years		254		26
Current period tax positions		145		112
Balance at December 31	$	1,178	$	779
Amount that would affect the effective tax rate if recognized, gross of tax	$	931	$	615

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Employee Benefit Plans [Abstract]

Components of Accumulated Other Comprehensive Income (Loss), Net Periodic Benefit Cost

The components of AOCI, which have not yet been recognized as components of net periodic benefit cost, related to pensions and other post-retirement benefits are summarized below:

	Pension Benefits				Other Benefits
(In thousands)	2020		2019		2020		2019
Net actuarial loss	$	26,108	$	28,334	$	317	$	125
Prior service cost		378		491		43		94
Total amounts recognized in AOCI (pre-tax)	$	26,486	$	28,825	$	360	$	219

Changes in Benefit Obligations, Changes in Plan Assets, and the Funded Status of the Pension Plans and Postretirement Benefits

	Pension Benefits						Other Benefits
(In thousands)	2020			2019			2020			2019
Change in benefit obligation:
Benefit obligation at beginning of year	$	90,586		$	85,134		$	6,083		$	7,034
Service cost		1,840			1,723			8			7
Interest cost		3,237			3,942			213			272
Plan participants’ contributions		-			-			173			201
Actuarial loss (gain)		3,411			6,030			191			(719	)
Curtailments		(67	)		-			-			-
Benefits paid		(8,813	)		(6,243	)		(669	)		(712	)
Projected benefit obligation at end of year	$	90,194		$	90,586		$	5,999		$	6,083
Change in plan assets:
Fair value of plan assets at beginning of year	$	122,995		$	109,746		$	-		$	-
Gain on plan assets		12,449			18,120			-			-
Employer contributions		1,932			1,372			496			511
Plan participants’ contributions		-			-			173			201
Benefits paid		(8,813	)		(6,243	)		(669	)		(712	)
Fair value of plan assets at end of year	$	128,563		$	122,995		$	-		$	-

Funded (unfunded) status at year end	$	38,369		$	32,409		$	(5,999	)	$	(6,083	)

Amounts Recognized in Balance Sheet

	Pension Benefits						Other Benefits
(In thousands)	2020			2019			2020			2019
Other assets	$	57,456		$	51,988		$	-		$	-
Other liabilities		(19,087	)		(19,579	)		(5,999	)		(6,083	)
Funded status	$	38,369		$	32,409		$	(5,999	)	$	(6,083	)

Assumptions used to Determine Benefit Obligations and Net Periodic Pension Cost

The following assumptions were used to determine the benefit obligation and the net periodic pension cost for the years indicated:

	Years Ended December 31,
	2020	2019	2018
Weighted average assumptions:
The following assumptions were used to determine benefit obligations:
Discount rate	3.08% - 3.25%	3.69% - 3.73%	4.79% - 4.80%
Expected long-term return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Interest rate of credit for cash balance plan	1.62%	2.28%	3.36%

The following assumptions were used to determine net periodic pension cost:
Discount rate	3.69% - 3.73%	4.79% - 4.80%	4.20% - 4.21%
Expected long-term return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Interest rate of credit for cash balance plan	2.28%	3.36%	2.80%

Net Periodic Pension Benefits and Other Benefit Costs

Net periodic benefit cost and other amounts recognized in OCI for the years ended December 31 included the following components:

	Pension Benefits									Other Benefits
(In thousands)	2020			2019			2018			2020			2019			2018
Components of net periodic (benefit) cost:
Service cost	$	1,840		$	1,723		$	1,659		$	8		$	7		$	10
Interest cost		3,237			3,942			3,645			213			272			327
Expected return on plan assets		(8,410	)		(7,480	)		(8,478	)		-			-			-
Additional gain due to curtailment		(74	)		-			-			-			-			-
Amortization of prior service cost		41			43			40			51			50			51
Amortization of unrecognized net loss		1,535			2,593			930			-			-			124
Net periodic pension (benefit) cost	$	(1,831	)	$	821		$	(2,204	)	$	272		$	329		$	512

Other changes in plan assets and benefit obligations recognized in OCI (pre-tax):
Net (gain) loss	$	(628	)	$	(4,611	)	$	12,882		$	192		$	(720	)	$	(762	)
Prior service cost		-			-			337			-			-			-
Additional gain due to curtailment		7			-			-			-			-			-
Amortization of prior service cost		(41	)		(43	)		(40	)		(51	)		(50	)		(51	)
Amortization of unrecognized net (loss)		(1,535	)		(2,593	)		(930	)		-			-			(124	)
Total recognized in OCI	$	(2,197	)	$	(7,247	)	$	12,249		$	141		$	(770	)	$	(937	)

Total recognized in net periodic (benefit) cost and OCI, pre-tax	$	(4,028	)	$	(6,426	)	$	10,045		$	413		$	(441	)	$	(425	)

Estimated Future Benefit Payments for the Pension Plans and Other Postretirement Benefit Plans

The following table sets forth estimated future benefit payments for the pension plans and other post-retirement benefit plans as of December 31, 2020:

(In thousands)	Pension Benefits		Other Benefits
2021	$	6,910	$	453
2022		6,977		451
2023		6,807		448
2024		7,083		443
2025		7,409		436
2026 - 2030		33,579		1,962

Target and Actual Allocations of Defined Benefit Pension Plan's Assets

The target and actual allocations expressed as a percentage of the defined benefit pension plan’s assets are as follows:

	Target 2020	2020	2019
Cash and cash equivalents	0 - 15%	3%	3%
Fixed income securities	30 - 60%	38%	40%
Equities	40 - 70%	59%	57%
Total		100%	100%

Financial Instruments Recorded at Fair Value on a Recurring Basis by the Plan

The following table presents the financial instruments recorded at fair value on a recurring basis by the Plan:

(In thousands)	Level 1		Level 2		December 31, 2020
Cash and cash equivalents	$	3,461	$	-	$	3,461
Foreign equity mutual funds		41,000		-		41,000
Equity mutual funds		35,637		-		35,637
U.S. government bonds		-		47		47
Corporate bonds		-		48,418		48,418
Total	$	80,098	$	48,465	$	128,563

	Level 1		Level 2		December 31, 2019
Cash and cash equivalents	$	4,143	$	-	$	4,143
Foreign equity mutual funds		40,239		-		40,239
Equity mutual funds		29,886		-		29,886
U.S. government bonds		-		58		58
Corporate bonds		-		48,669		48,669
Total	$	74,268	$	48,727	$	122,995

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Stock-Based Compensation [Abstract]

Unvested Restricted Stock Units Activity

	Number of Shares			Weighted- Average Grant Date Fair Value
Unvested at January 1, 2020		555,440		$	30.11
Forfeited		(2,315	)		34.82
Vested		(115,432	)		29.93
Granted		147,562			28.61
Unvested at December 31, 2020		585,255		$	29.78

Stock Option Activity

The following table summarizes information concerning stock options outstanding:

(In thousands, except share and per share data)	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2020		33,145		$	23.73
Exercised		(8,845	)		20.87
Expired		(10,500	)		20.74
Outstanding at December 31, 2020		13,800		$	27.83		3.36	$	75

Exercisable at December 31, 2020		13,800		$	27.83		3.36	$	75

Cash Proceeds, Tax Benefits and Intrinsic Value of Stock Options Exercised

	Years Ended December 31,
(In thousands)	2020		2019		2018
Proceeds from stock options exercised	$	185	$	725	$	999
Tax benefits related to stock options exercised		41		123		173
Intrinsic value of stock options exercised		165		490		692
Fair value of shares vested during the year		-		13		16

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity [Abstract]

Components of Accumulated Other Comprehensive (Loss) Income

(In thousands)	2020			2019			2018
Unrecognized prior service cost and net actuarial (losses) on pension plans	$	(20,134	)	$	(21,677	)	$	(27,689	)
Unrealized (losses) gains on derivatives (cash flow hedges)		(16	)		(32	)		1,821
Unrealized net holding gains (losses) on AFS securities		20,567			2,683			(17,306	)
AOCI	$	417		$	(19,026	)	$	(43,174	)

Regulatory Capital Requirements (Tables)

12 Months Ended

Dec. 31, 2020

Regulatory Capital Requirements [Abstract]

Compliance with Regulatory Compliance Requirements Under Banking Regulations

The Company and NBT Bank’s actual capital amounts and ratios are presented as follows:

	Actual					Regulatory Ratio Requirements
(Dollars in thousands)	Amount		Ratio			Minimum Capital Adequacy			Minimum plus Buffer			For Classification as Well- Capitalized
As of December 31, 2020
Tier I Capital (to average assets)
Company	$	1,018,320		9.56	%		4.00	%					5.00	%
NBT Bank		1,054,097		9.95	%		4.00	%					5.00	%
Common Equity Tier 1 Capital
Company		921,320		11.84	%		4.50	%		7.00	%		6.50	%
NBT Bank		1,054,097		13.67	%		4.50	%		7.00	%		6.50	%
Tier I Capital (to risk-weighted assets)
Company		1,018,320		13.09	%		6.00	%		8.50	%		8.00	%
NBT Bank		1,054,097		13.67	%		6.00	%		8.50	%		8.00	%
Total Capital (to risk-weighted assets)
Company		1,215,672		15.62	%		8.00	%		10.50	%		10.00	%
NBT Bank		1,150,544		14.93	%		8.00	%		10.50	%		10.00	%

As of December 31, 2019
Tier I Capital (to average assets)
Company	$	963,147		10.33	%		4.00	%					5.00	%
NBT Bank		894,407		9.64	%		4.00	%					5.00	%
Common Equity Tier 1 Capital
Company		866,147		11.29	%		4.50	%		7.00	%		6.50	%
NBT Bank		894,407		11.76	%		4.50	%		7.00	%		6.50	%
Tier I Capital (to risk-weighted assets)
Company		963,147		12.56	%		6.00	%		8.50	%		8.00	%
NBT Bank		894,407		11.76	%		6.00	%		8.50	%		8.00	%
Total Capital (to risk-weighted assets)
Company		1,037,041		13.52	%		8.00	%		10.50	%		10.00	%
NBT Bank		968,301		12.73	%		8.00	%		10.50	%		10.00	%

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Earnings Per Share

The following is a reconciliation of basic and diluted EPS for the years presented in the consolidated statements of income:

	Years Ended December 31,
	2020						2019						2018
(In thousands except per share data)	Net Income		Weighted Average Shares		Per Share Amount		Net Income		Weighted Average Shares		Per Share Amount		Net Income		Weighted Average Shares		Per Share Amount
Basic EPS	$	104,388		43,693	$	2.39	$	121,021		43,815	$	2.76	$	112,566		43,701	$	2.58
Effect of dilutive securities:
Stock-based compensation				296						309						319
Diluted EPS	$	104,388		43,989	$	2.37	$	121,021		44,124	$	2.74	$	112,566		44,020	$	2.56

Reclassification Adjustments Out of Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2020

Reclassification Adjustments Out of Other Comprehensive Income (Loss) [Abstract]

Reclassification Adjustments out of AOCI

The following table summarizes the reclassification adjustments out of AOCI:

Detail About AOCI Components	Amount Reclassified From AOCI									Affected Line Item in the Consolidated Statements of Comprehensive Income (Loss)
(In thousands)	Years Ended December 31,
(In thousands)	2020			2019			2018
AFS securities:
(Gains) losses on AFS securities	$	(3	)	$	79		$	6,622		Net securities (gains) losses
Amortization of unrealized gains related to securities transfer		644			737			688		Interest income
Tax effect	$	(160	)	$	(204	)	$	(1,827	)	Income tax (benefit)
Net of tax	$	481		$	612		$	5,483

Cash flow hedges:
Net unrealized losses (gains) on cash flow hedges reclassified to interest expense	$	296		$	(2,012	)	$	(2,300	)	Interest expense
Tax effect	$	(74	)	$	503		$	575		Income tax (benefit) expense
Net of tax	$	222		$	(1,509	)	$	(1,725	)

Pension and other benefits:
Amortization of net losses	$	1,535		$	2,593		$	1,054		Other noninterest expense
Amortization of prior service costs		92			93			91		Other noninterest expense
Tax effect	$	(407	)	$	(672	)	$	(286	)	Income tax (benefit)
Net of tax	$	1,220		$	2,014		$	859

Total reclassifications, net of tax	$	1,923		$	1,117		$	4,617

Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingent Liabilities [Abstract]

Maximum Commitments Potential Obligation

	At December 31,
(In thousands)	2020		2019
Unused lines of credit	$	351,876	$	340,703
Commitments to extend credits, primarily variable rate		1,831,671		1,579,414
Standby letters of credit		54,009		34,479
Loans sold with recourse		25,659		25,639

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Fair Value Adjustment Recorded Related to Notional Amount of Derivatives Outstanding and Notional Amount of Risk Participation Agreements

The following table depicts the fair value adjustment recorded related to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements:

	December 31,
(In thousands)	2020		2019
Derivatives Not Designated as Hedging Instruments:
Fair value adjustment included in other assets and other liabilities
Interest rate derivatives	$	108,487	$	41,650
Notional amount
Interest rate derivatives		2,447,168		963,209
Risk participation agreements		112,313		97,614
Derivatives Designated as Hedging Instruments:
Fair value adjustment included in other assets
Interest rate derivatives		-		4
Fair value adjustment included in other liabilities
Interest rate derivatives		34		45
Notional amount
Interest rate derivatives		25,000		50,000

Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Effect of Derivatives on AOCI and on Consolidated Statement of Income

The following table indicates the effect of cash flow hedge accounting on AOCI and on the consolidated statement of income:

	December 31,
(In thousands)	2020			2019			2018
Derivatives Designated as Hedging Instruments:
Interest rate derivatives - included component
Amount of (loss) gain recognized in OCI	$	(275	)	$	(459	)	$	1,218
Amount of loss (gain) reclassified from AOCI into interest expense		296			(2,012	)		(2,300	)

Not Designated as Hedging Instrument [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Effect of Derivatives on AOCI and on Consolidated Statement of Income

The following table indicates the gain or loss recognized in income on derivatives not designated as a hedging relationship:

	December 31,
(In thousands)	2020		2019		2018
Derivatives Not Designated as Hedging Instruments:
Increase (decrease) in other income	$	1	$	295	$	(120	)

Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Values of Financial Instruments [Abstract]

Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis

(In thousands)	Level 1		Level 2		Level 3		December 31, 2020
Assets:
AFS securities:
Federal agency	$	-	$	243,597	$	-	$	243,597
State & municipal		-		43,180		-		43,180
Mortgage-backed		-		595,839		-		595,839
Collateralized mortgage obligations		-		437,804		-		437,804
Corporate		-		28,278		-		28,278
Total AFS securities	$	-	$	1,348,698	$	-	$	1,348,698
Equity securities		28,737		2,000		-		30,737
Derivatives		-		108,779		-		108,779
Total	$	28,737	$	1,459,477	$	-	$	1,488,214

Liabilities:
Derivatives	$	-	$	108,646	$	-	$	108,646
Total	$	-	$	108,646	$	-	$	108,646

(In thousands)	Level 1		Level 2		Level 3		December 31, 2019
Assets:
AFS securities:
Federal agency	$	-	$	34,758	$	-	$	34,758
State & municipal		-		2,513		-		2,513
Mortgage-backed		-		503,626		-		503,626
Collateralized mortgage obligations		-		434,443		-		434,443
Total AFS securities	$	-	$	975,340	$	-	$	975,340
Equity securities		23,771		4,000		-		27,771
Derivatives		-		41,766		-		41,766
Total	$	23,771	$	1,021,106	$	-	$	1,044,877

Liabilities:
Derivatives	$	-	$	41,777	$	-	$	41,777
Total	$	-	$	41,777	$	-	$	41,777

Information with Regard to Estimated Fair Values of Financial Instruments

		December 31, 2020				December 31, 2019
(In thousands)	Fair Value Hierarchy		Carrying Amount	Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
HTM securities	2	$	616,560	$	636,827	$	630,074	$	641,262
Net loans	3		7,390,004		7,530,033		7,074,864		6,999,690
Financial liabilities:
Time deposits	2	$	633,479	$	638,721	$	861,193	$	858,085
Long-term debt	2		39,097		39,820		64,211		64,373
Subordinated debt	1		100,000		103,277		-		-
Junior subordinated debt	2		101,196		108,926		101,196		105,694

Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Parent Company Financial Information [Abstract]

Parent Company Financial Information

Condensed Balance Sheets

	December 31,
(In thousands)	2020		2019
Assets
Cash and cash equivalents	$	37,915	$	9,387
Equity securities, at estimated fair value		25,111		22,441
Investment in subsidiaries, on equity basis		1,345,317		1,209,752
Other assets		30,577		30,855
Total assets	$	1,438,920	$	1,272,435
Liabilities and Stockholders’ Equity
Total liabilities	$	251,302	$	152,038
Stockholders’ equity		1,187,618		1,120,397
Total liabilities and stockholders’ equity	$	1,438,920	$	1,272,435

Condensed Statements of Income

	Years Ended December 31,
(In thousands)	2020			2019			2018
Dividends from subsidiaries	$	77,000		$	50,200		$	43,000
Management fee from subsidiaries		4,151			7,981			7,907
Net securities (losses) gains		(483	)		165			399
Interest, dividends and other income		824			876			905
Total revenue	$	81,492		$	59,222		$	52,211
Operating expenses		11,825			14,262			14,226
Income before income tax benefit and equity in undistributed income of subsidiaries	$	69,667		$	44,960		$	37,985
Income tax benefit		(2,653	)		(1,588	)		(1,608	)
Equity in undistributed income of subsidiaries		32,068			74,473			72,973
Net income	$	104,388		$	121,021		$	112,566

Condensed Statements of Cash Flow

	Years Ended December 31,
(In thousands)	2020			2019			2018
Operating activities
Net income	$	104,388		$	121,021		$	112,566
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of premises and equipment		1,739			2,298			2,814
Excess tax benefit on stock-based compensation		(181	)		(409	)		(543	)
Stock-based compensation expense		4,581			4,210			3,936
Net securities losses (gains)		483			(165	)		(399	)
Equity in undistributed income of subsidiaries		(32,068	)		(74,473	)		(72,973	)
Bank owned life insurance income		(391	)		(398	)		(424	)
Amortization of subordinated debt issuance costs		230			-			-
Net change in other assets and other liabilities		(3,535	)		(1,573	)		(6,124	)
Net cash provided by operating activities	$	75,246		$	50,511		$	38,853
Investing activities
Investment in the Bank	$	(90,000	)	$	-		$	-
Proceeds from calls of equity securities		2,000			-			-
Proceeds on sales of equity securities		-			-			3,318
Purchases of equity securities		-			(93	)		(2	)
Net cash (used in) provided by investing activities	$	(88,000	)	$	(93	)	$	3,316
Financing activities
Proceeds from issuance of subordinated debt	$	100,000		$	-		$	-
Payment of subordinated debt issuance costs		(2,178	)		-			-
Proceeds from the issuance of shares to employee and other stock plans		184			725			1,296
Cash paid by employer for tax-withholding on stock issuance		(1,537	)		(1,622	)		(1,893	)
Purchases of treasury shares		(7,980	)		-			-
Cash dividends		(47,207	)		(46,010	)		(43,269	)
Net cash provided by (used in) financing activities	$	41,282		$	(46,907	)	$	(43,866	)
Net increase (decrease) in cash and cash equivalents	$	28,528		$	3,511		$	(1,697	)
Cash and cash equivalents at beginning of year		9,387			5,876			7,572
Cash and cash equivalents at end of year	$	37,915		$	9,387		$	5,876

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) Loan	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Loans [Abstract]
Minimum number of days past due for loans to be considered nonperforming	90 days
Period of sustained repayment performance for nonperforming TDRs to be returned to performing status	6 months
Other Financial Instruments [Abstract]
Standby letters of credit expiration period	1 year
Noninterest Income [Abstract]
Total noninterest income in-scope of ASC 606	$ 140,921	$ 134,455	$ 126,012
Total noninterest income out-of-scope of ASC 606	5,355	9,568	(1,250)
Total noninterest income	$ 146,276	144,023	124,762
Minimum [Member]
Allowance for Credit Losses [Abstract]
Threshold period past due for loans to be written off	90 days
Maximum [Member]
Allowance for Credit Losses [Abstract]
Threshold period past due for loans to be written off	120 days
Paycheck Protection Program [Member]
Allowance for Credit Losses [Abstract]
Number of loans processed \| Loan	3,000
Paycheck Protection Program [Member] \| Minimum [Member]
Allowance for Credit Losses [Abstract]
Amount of loans processed	$ 548,000
COVID-19 [Member]
Loans [Abstract]
Loans in modification programs related to COVID-19	110,800
Service Charges on Deposit Accounts [Member]
Noninterest Income [Abstract]
Total noninterest income in-scope of ASC 606	13,201	17,151	17,224
ATM and Debit Card Fees [Member]
Noninterest Income [Abstract]
Total noninterest income in-scope of ASC 606	25,960	23,893	22,699
Retirement Plan Administration Fees [Member]
Noninterest Income [Abstract]
Total noninterest income in-scope of ASC 606	35,851	30,388	26,992
Wealth Management [Member]
Noninterest Income [Abstract]
Total noninterest income in-scope of ASC 606	29,247	28,400	28,747
Insurance [Member]
Noninterest Income [Abstract]
Total noninterest income in-scope of ASC 606	14,757	15,770	15,122
Other [Member]
Noninterest Income [Abstract]
Total noninterest income in-scope of ASC 606	$ 21,905	$ 18,853	$ 15,228
Commercial Loans [Member] \| Commercial Real Estate [Member] \| Maximum [Member]
Allowance for Credit Losses [Abstract]
Loan amount, percentage of appraised value or purchase price of the property	80.00%
Consumer Loans [Member] \| Auto [Member] \| Minimum [Member]
Allowance for Credit Losses [Abstract]
Principal repayment term of loan	3 years
Consumer Loans [Member] \| Auto [Member] \| Maximum [Member]
Allowance for Credit Losses [Abstract]
Principal repayment term of loan	6 years
Consumer Loans [Member] \| Installment Loans [Member] \| Minimum [Member]
Allowance for Credit Losses [Abstract]
Principal repayment term of loan	1 year
Consumer Loans [Member] \| Installment Loans [Member] \| Maximum [Member]
Allowance for Credit Losses [Abstract]
Principal repayment term of loan	15 years
Residential [Member] \| Maximum [Member]
Allowance for Credit Losses [Abstract]
Loan amount, percentage of appraised value or purchase price of the property	85.00%
Residential [Member] \| Home Equity [Member] \| Maximum [Member]
Allowance for Credit Losses [Abstract]
Loan amount, percentage of equity in property	85.00%
Term of draw	10 years
Term of amortization	15 years

Recent Accounting Pronouncements (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

$ 749,056

$ 696,214

^[1]

110,000

COVID-19 [Member]

Loans in modification programs related to COVID-19

110,800

ASU 2016-13 [Member]

ASU 2016-13 [Member] | Cumulative Effect Adjustment for ASU Implementation [Member]

$ 110,000

75,999

(4,300)

Allowance for credit losses on off-balance sheet credit exposure

3,000

2,800

Deferred tax asset

$ (1,500)

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Acquisitions (Details) - USD ($) $ in Thousands	12 Months Ended
Acquisitions (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisitions [Abstract]
Goodwill acquired	$ 5,772	$ 0
Alliance Benefit Group of Illinois, Inc. [Member]
Business Acquisitions [Abstract]
Total consideration paid	9,100
Goodwill acquired	5,800
Contingent consideration, liability	$ 5,100
Retirement Plan Services, LLC [Member]
Business Acquisitions [Abstract]
Total consideration paid			$ 13,000
Goodwill acquired			6,700
Contingent consideration, liability			$ 5,100

Securities, Available for Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt securities, available-for-sale [Abstract]
Amortized cost	$ 1,318,711	$ 968,554
Unrealized gains	32,166	8,319
Unrealized losses	2,179	1,533
Estimated fair value	1,348,698	975,340
Allowance for credit losses on AFS securities	0
Components of net realized gains (losses) on sale of AFS securities [Abstract]
Gross realized gains	3	73	$ 0
Gross realized (losses)	0	(152)	(6,622)
Net AFS realized gains (losses)	3	(79)	(6,622)
Gains from calls on securities available for sale	3	25	$ 0
Federal Agency [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	245,590	34,998
Unrealized gains	59	3
Unrealized losses	2,052	243
Estimated fair value	243,597	34,758
State & Municipal [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	42,550	2,533
Unrealized gains	630	0
Unrealized losses	0	20
Estimated fair value	43,180	2,513
Mortgage-Backed, Government Sponsored Enterprises [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	521,448	453,614
Unrealized gains	17,079	4,982
Unrealized losses	22	239
Estimated fair value	538,505	458,357
Mortgage-backed Securities, U.S. Government Agency Securities [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	55,049	44,758
Unrealized gains	2,332	667
Unrealized losses	47	156
Estimated fair value	57,334	45,269
Collateralized Mortgage Obligations, Government-Sponsored Enterprises [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	311,710	328,499
Unrealized gains	7,549	1,949
Unrealized losses	58	467
Estimated fair value	319,201	329,981
Collateralized Mortgage Obligations, U.S. Government Agency Securities [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	114,864	104,152
Unrealized gains	3,739	718
Unrealized losses	0	408
Estimated fair value	118,603	$ 104,462
Corporate [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	27,500
Unrealized gains	778
Unrealized losses	0
Estimated fair value	$ 28,278

Securities, Held to Maturity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	$ 616,560	$ 630,074
Unrealized gains	21,942	11,817
Unrealized losses	1,675	629
Estimated fair value	636,827	641,262
Allowance for credit losses on HTM securities	0
Transactions of HTM securities [Abstract]
Gains from calls on HTM securities	24	12	$ 0
Held-to-maturity securities sold, amortized cost	1,000	0	$ 0
Held-to-maturity securities sold, realized loss	1
Federal Agency [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	100,000
Unrealized gains	0
Unrealized losses	1,658
Estimated fair value	98,342
Mortgage-backed Securities, Government-Sponsored Enterprises [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	107,914	149,448
Unrealized gains	4,583	3,184
Unrealized losses	0	155
Estimated fair value	112,497	152,477
Mortgage-Backed, U.S. Government Agency Securities [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	11,533	13,667
Unrealized gains	979	584
Unrealized losses	0	0
Estimated fair value	12,512	14,251
Collateralized Mortgage Obligations, Government-Sponsored Enterprises [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	103,105	189,402
Unrealized gains	4,477	2,165
Unrealized losses	0	368
Estimated fair value	107,582	191,199
Collateralized Mortgage Obligations, U.S. Government Agency Securities [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	79,145	110,498
Unrealized gains	3,950	3,256
Unrealized losses	0	100
Estimated fair value	83,095	113,654
State & Municipal [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	214,863	167,059
Unrealized gains	7,953	2,628
Unrealized losses	17	6
Estimated fair value	222,799	169,681
Public Deposits and Other Purposes [Member]
Securities pledged [Abstract]
Amortized costs of securities available for sale and held to maturity pledged	1,400,000	1,300,000
Securities Sold under Repurchase Agreements [Member]
Securities pledged [Abstract]
Amortized costs of securities available for sale and held to maturity pledged	$ 305,200	$ 189,800

Securities, Gains and (Losses) on Equity Securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) Issuer	Dec. 31, 2019 USD ($) Issuer
Gains (losses) on equity securities [Abstract]
Net (losses) and gains recognized on equity securities	$ (414)	$ 4,280
Less: Net gains recognized during the period on equity securities sold during the period	0	3,966
Unrealized (losses) and gains recognized on equity securities still held	(414)	314
Equity Securities without Readily Determinable Fair Value, Annual Amount [Abstract]
Carrying amount of equity securities without readily determinable fair values	2,000	4,000
Impairment adjustments of equity securities without readily determinable fair values	0	0
Downward adjustments of equity securities without readily determinable fair values	0	0
Upward adjustments of equity securities without readily determinable fair values	$ 0	$ 0
Number of issuers whose holdings exceeded 10% of consolidated stockholders' equity, excluding U.S. Government securities \| Issuer	0	0
Visa Class B Common Stock [Member]
Equity Securities without Readily Determinable Fair Value, Annual Amount [Abstract]
Gain from sale of equity securities without readily determinable fair value		$ 4,000

Securities, AFS Debt Securities, Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Available-for-sale Securities, Debt Maturities, Amortized Cost [Abstract]
Within one year	$ 438
From one to five years	21,476
From five to ten years	545,330
After ten years	751,467
Amortized cost	1,318,711	$ 968,554
Available-for-sale Securities, Debt Maturities, Estimated Fair Value [Abstract]
Within one year	449
From one to five years	22,324
From five to ten years	551,215
After ten years	774,710
Fair value	$ 1,348,698	$ 975,340

Securities, HTM Debt Securities, Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract]
Within one year	$ 18,088
From one to five years	58,963
From five to ten years	231,927
After ten years	307,582
Amortized cost	616,560	$ 630,074
Held-to-maturity Securities, Debt Maturities, Estimated Fair Value [Abstract]
Within one year	18,104
From one to five years	60,483
From five to ten years	237,275
After ten years	320,965
Fair value	$ 636,827	$ 641,262

Securities, AFS Securities in Continuous Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2020 USD ($) Position	Dec. 31, 2019 USD ($) Position
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 213,643	$ 198,501
12 months or longer	800	97,243
Total	214,443	295,744
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(2,170)	(718)
12 months or longer	(9)	(815)
Total	$ (2,179)	$ (1,533)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	19	48
12 months or longer \| Position	4	34
Total \| Position	23	82
AIR on AFS debt securities	$ 3,300
Federal Agency [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	148,537	$ 14,891
12 months or longer	0	9,866
Total	148,537	24,757
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(2,052)	(109)
12 months or longer	0	(134)
Total	$ (2,052)	$ (243)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	10	2
12 months or longer \| Position	0	1
Total \| Position	10	3
State & Municipal [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months		$ 2,503
12 months or longer		0
Total		2,503
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months		(20)
12 months or longer		0
Total		$ (20)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position		1
12 months or longer \| Position		0
Total \| Position		1
Mortgage-Backed [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 47,269	$ 67,986
12 months or longer	800	37,745
Total	48,069	105,731
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(60)	(273)
12 months or longer	(9)	(122)
Total	$ (69)	$ (395)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	3	21
12 months or longer \| Position	4	16
Total \| Position	7	37
Collateralized Mortgage Obligations [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 17,837	$ 113,121
12 months or longer	0	49,632
Total	17,837	162,753
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(58)	(316)
12 months or longer	0	(559)
Total	$ (58)	$ (875)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	6	24
12 months or longer \| Position	0	17
Total \| Position	6	41

Securities, HTM Securities in Continuous Unrealized Loss Position (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) Position	Dec. 31, 2019 USD ($) Position
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 103,147	$ 20,297
12 months or longer	0	47,759
Total	103,147	68,056
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(1,675)	(187)
12 months or longer	0	(442)
Total	$ (1,675)	$ (629)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	9	7
12 months or longer \| Position	0	7
Total \| Position	9	14
Held-to-maturity, past due	$ 0
Accrued interest reversed against interest income	0
Collateral-dependent HTM debt securities	0
AIR on HTM debt securities	2,700
Federal Agency [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	98,342
12 months or longer	0
Total	98,342
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(1,658)
12 months or longer	0
Total	$ (1,658)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	4
12 months or longer \| Position	0
Total \| Position	4
Mortgage-Backed [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months		$ 0
12 months or longer		25,370
Total		25,370
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months		0
12 months or longer		(155)
Total		$ (155)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position		0
12 months or longer \| Position		2
Total \| Position		2
Collateralized Mortgage Obligations [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months		$ 18,040
12 months or longer		22,389
Total		40,429
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months		(181)
12 months or longer		(287)
Total		$ (468)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position		3
12 months or longer \| Position		5
Total \| Position		8
State & Municipal [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 4,805	$ 2,257
12 months or longer	0	0
Total	4,805	2,257
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(17)	(6)
12 months or longer	0	0
Total	$ (17)	$ (6)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	5	4
12 months or longer \| Position	0	0
Total \| Position	5	4
US Government Agencies Debt Securities and US Government-sponsored Enterprises Debt Securities [Member]
Unrealized Loss Position, Number of Positions [Abstract]
Held-to-maturity debt securities, percentage	65.00%

Loans (Details) - USD ($) $ in Thousands	12 Months Ended
Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Summary of Loans [Abstract]
Net Loans	$ 7,498,885	$ 7,136,098
Deferred loan origination costs, net	9,400	35,300
Residential loans held for sale	1,100	11,500
Loans serviced for unrelated third parties	614,500	612,300
Mortgage servicing rights	1,300	800
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance at January 1	2,166	1,638
New loans	1,524	587
Adjustment due to change in composition of related parties	2,448	389
Repayments	(202)	(448)
Balance at December 31	5,936	2,166
Commercial [Member]
Summary of Loans [Abstract]
Net Loans	1,267,679	1,302,209
Commercial Real Estate [Member]
Summary of Loans [Abstract]
Net Loans	2,380,358	2,142,057
Paycheck Protection Program [Member]
Summary of Loans [Abstract]
Net Loans	430,810	0
Residential Real Estate [Member]
Summary of Loans [Abstract]
Net Loans	1,466,662	1,445,156
Indirect Auto [Member]
Summary of Loans [Abstract]
Net Loans	931,286	1,193,635
Specialty Lending [Member]
Summary of Loans [Abstract]
Net Loans	579,644	542,063
Home Equity [Member]
Summary of Loans [Abstract]
Net Loans	387,974	444,082
Other Consumer [Member]
Summary of Loans [Abstract]
Net Loans	54,472	66,896
Agricultural and Agricultural Real Estate Mortgages [Member]
Summary of Loans [Abstract]
Loans serviced for unrelated third parties	$ 25,700	$ 25,600

Allowance for Credit Losses and Credit Quality of Loans (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

^[1]

$ 110,000

$ 72,965

^[1]

$ 72,505

$ 69,500

Loans purchased with credit deterioration

749,056

$ 696,214

$ 0

Percentage of allowance of credit losses

1.47%

1.02%

Provision for loan and lease losses

$ 51,100

$ 25,400

ASU 2016-13 [Member]

ASU 2016-13 [Member] | Loans [Member]

110,000

75,999

3,000

ASU 2016-13 [Member] | Accrued Interest Receivable [Member]

(2,300)

Deferred tax asset

700

Write-off of uncollectible interest period

600

AIR on loans

$ 23,700

120 days

Consumer Loans [Member]

Amount of loans purchased

35,647

$ 37,178

$ 36,830

$ 51,900

Discount on loans purchased

1.00%

Allowance for credit losses on loans purchased

$ 3,600

Consumer Loans [Member] | ASU 2016-13 [Member]

Activity in allowance for credit losses by portfolio segment [Roll Forward]

$ 37,803

$ 32,122

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Allowance for Credit Losses and Credit Quality of Loans, Allowance for Loan Losses by Portfolio Segments (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2020

USD ($)

Activity in allowance for credit losses by portfolio segment [Roll Forward]

$ 110,000

^[1]

ASU 2016-13 [Member]

75,999

(27,078)

9,945

51,134

Commercial Loans [Member] | ASU 2016-13 [Member]

110,000

Activity in allowance for credit losses by portfolio segment [Roll Forward]

27,156

(4,005)

786

27,005

Consumer Loans [Member] | ASU 2016-13 [Member]

50,942

Activity in allowance for credit losses by portfolio segment [Roll Forward]

32,122

(21,938)

8,541

19,078

Residential Real Estate [Member] | ASU 2016-13 [Member]

37,803

Activity in allowance for credit losses by portfolio segment [Roll Forward]

16,721

(1,135)

618

5,051

Allowance for Credit Losses and Credit Quality of Loans [Abstract]

$ 21,255

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Allowance for Credit Losses and Credit Quality of Loans, Credit Quality Indicators (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Minimum number of days past due for loans to be considered nonperforming	90 days
Credit Quality by Loan Class [Abstract]
2020	$ 1,927,429
2019	1,312,819
2018	949,810
2017	750,728
2016	515,688
Prior	1,262,066
Revolving Loans Amortized Cost Basis	749,657
Revolving Loans Converted to Term	30,688
Total	7,498,885
C&I [Member]
Credit Quality by Loan Class [Abstract]
2020	352,323
2019	195,227
2018	106,502
2017	50,153
2016	35,040
Prior	39,712
Revolving Loans Amortized Cost Basis	346,233
Revolving Loans Converted to Term	426
Total	1,125,616
C&I [Member] \| Pass [Member]
Credit Quality by Loan Class [Abstract]
2020	331,921
2019	182,329
2018	91,230
2017	41,856
2016	32,625
Prior	32,609
Revolving Loans Amortized Cost Basis	322,674
Revolving Loans Converted to Term	412
Total	1,035,656
C&I [Member] \| Special Mention [Member]
Credit Quality by Loan Class [Abstract]
2020	20,064
2019	6,534
2018	5,053
2017	4,702
2016	1,624
Prior	2,830
Revolving Loans Amortized Cost Basis	13,614
Revolving Loans Converted to Term	0
Total	54,421
C&I [Member] \| Substandard [Member]
Credit Quality by Loan Class [Abstract]
2020	338
2019	6,364
2018	10,219
2017	3,388
2016	791
Prior	4,272
Revolving Loans Amortized Cost Basis	9,945
Revolving Loans Converted to Term	14
Total	35,331
C&I [Member] \| Doubtful [Member]
Credit Quality by Loan Class [Abstract]
2020	0
2019	0
2018	0
2017	207
2016	0
Prior	1
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	208
CRE [Member]
Credit Quality by Loan Class [Abstract]
2020	472,506
2019	412,425
2018	296,712
2017	342,604
2016	255,045
Prior	496,867
Revolving Loans Amortized Cost Basis	115,926
Revolving Loans Converted to Term	20,200
Total	2,412,285
CRE [Member] \| Pass [Member]
Credit Quality by Loan Class [Abstract]
2020	469,919
2019	361,187
2018	256,154
2017	271,874
2016	212,197
Prior	383,690
Revolving Loans Amortized Cost Basis	113,128
Revolving Loans Converted to Term	4,034
Total	2,072,183
CRE [Member] \| Special Mention [Member]
Credit Quality by Loan Class [Abstract]
2020	2,051
2019	44,034
2018	22,260
2017	55,039
2016	36,830
Prior	43,537
Revolving Loans Amortized Cost Basis	1,297
Revolving Loans Converted to Term	11,524
Total	216,572
CRE [Member] \| Substandard [Member]
Credit Quality by Loan Class [Abstract]
2020	536
2019	5,307
2018	18,298
2017	15,691
2016	6,018
Prior	62,168
Revolving Loans Amortized Cost Basis	1,501
Revolving Loans Converted to Term	4,642
Total	114,161
CRE [Member] \| Doubtful [Member]
Credit Quality by Loan Class [Abstract]
2020	0
2019	1,897
2018	0
2017	0
2016	0
Prior	7,472
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	9,369
PPP [Member]
Credit Quality by Loan Class [Abstract]
2020	430,810
2019	0
2018	0
2017	0
2016	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	430,810
PPP [Member] \| Pass [Member]
Credit Quality by Loan Class [Abstract]
2020	430,810
2019	0
2018	0
2017	0
2016	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	430,810
Auto [Member]
Credit Quality by Loan Class [Abstract]
2020	198,240
2019	315,174
2018	202,985
2017	116,502
2016	45,932
Prior	13,250
Revolving Loans Amortized Cost Basis	22
Revolving Loans Converted to Term	0
Total	892,105
Auto [Member] \| Performing [Member]
Credit Quality by Loan Class [Abstract]
2020	197,881
2019	314,034
2018	201,850
2017	115,977
2016	45,495
Prior	13,250
Revolving Loans Amortized Cost Basis	22
Revolving Loans Converted to Term	0
Total	888,509
Auto [Member] \| Nonperforming [Member]
Credit Quality by Loan Class [Abstract]
2020	359
2019	1,140
2018	1,135
2017	525
2016	437
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	3,596
Other Consumer [Member]
Credit Quality by Loan Class [Abstract]
2020	234,967
2019	178,829
2018	127,856
2017	55,941
2016	14,345
Prior	17,547
Revolving Loans Amortized Cost Basis	18,598
Revolving Loans Converted to Term	71
Total	648,154
Other Consumer [Member] \| Performing [Member]
Credit Quality by Loan Class [Abstract]
2020	234,628
2019	178,411
2018	127,549
2017	55,676
2016	14,255
Prior	17,414
Revolving Loans Amortized Cost Basis	18,588
Revolving Loans Converted to Term	71
Total	646,592
Other Consumer [Member] \| Nonperforming [Member]
Credit Quality by Loan Class [Abstract]
2020	339
2019	418
2018	307
2017	265
2016	90
Prior	133
Revolving Loans Amortized Cost Basis	10
Revolving Loans Converted to Term	0
Total	1,562
Residential [Member]
Credit Quality by Loan Class [Abstract]
2020	238,583
2019	211,164
2018	215,755
2017	185,528
2016	165,326
Prior	694,690
Revolving Loans Amortized Cost Basis	268,878
Revolving Loans Converted to Term	9,991
Total	1,989,915
Residential [Member] \| Performing [Member]
Credit Quality by Loan Class [Abstract]
2020	237,338
2019	210,505
2018	213,437
2017	182,993
2016	164,424
Prior	684,495
Revolving Loans Amortized Cost Basis	268,878
Revolving Loans Converted to Term	9,991
Total	1,972,061
Residential [Member] \| Nonperforming [Member]
Credit Quality by Loan Class [Abstract]
2020	1,245
2019	659
2018	2,318
2017	2,535
2016	902
Prior	10,195
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	$ 17,854

Allowance for Credit Losses and Credit Quality of Loans, Allowance for Credit Losses on Off-Balance Sheet Credit Exposures (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

^[1]

$ 110,000

Unfunded Commitment [Member]

$ 72,965

^[1]

$ 72,505

$ 69,500

Allowance for Credit Losses and Credit Quality of Loans [Abstract]

$ 6,400

Changes in allowance for loan losses by portfolio segment [Roll Forward]

$ 900

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Allowance for Credit Losses and Credit Quality of Loans, Troubled Debt Restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) Contract	Dec. 31, 2019 USD ($) Contract
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract	37	37
Pre-modification outstanding recorded investment	$ 2,900	$ 2,508
Post-modification outstanding recorded investment	$ 3,026	$ 2,603
Number of contracts \| Contract	64	55
Recorded Investment	$ 3,774	$ 2,606
Commercial Loans [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract	1	5
Pre-modification outstanding recorded investment	$ 22	$ 892
Post-modification outstanding recorded investment	$ 22	$ 898
Number of contracts \| Contract	2
Recorded Investment	$ 555
Commercial Loans [Member] \| C&I [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract	1	1
Pre-modification outstanding recorded investment	$ 22	$ 65
Post-modification outstanding recorded investment	$ 22	$ 65
Number of contracts \| Contract	1
Recorded Investment	$ 387
Commercial Loans [Member] \| CRE [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract		1
Pre-modification outstanding recorded investment		$ 402
Post-modification outstanding recorded investment		$ 402
Number of contracts \| Contract	1
Recorded Investment	$ 168
Commercial Loans [Member] \| Business Banking [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract		3
Pre-modification outstanding recorded investment		$ 425
Post-modification outstanding recorded investment		$ 431
Consumer Loans [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract	1	20
Pre-modification outstanding recorded investment	$ 44	$ 584
Post-modification outstanding recorded investment	$ 44	$ 614
Number of contracts \| Contract	1	32
Recorded Investment	$ 6	$ 1,403
Consumer Loans [Member] \| Auto [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract	1
Pre-modification outstanding recorded investment	$ 44
Post-modification outstanding recorded investment	$ 44
Number of contracts \| Contract	1
Recorded Investment	$ 6
Consumer Loans [Member] \| Indirect Auto [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract		9
Pre-modification outstanding recorded investment		$ 134
Post-modification outstanding recorded investment		$ 134
Number of contracts \| Contract		3
Recorded Investment		$ 18
Consumer Loans [Member] \| Direct [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract		11
Pre-modification outstanding recorded investment		$ 450
Post-modification outstanding recorded investment		$ 480
Number of contracts \| Contract		29
Recorded Investment		$ 1,385
Residential [Member]
Troubled Debt Restructuring [Abstract]
Number of contracts \| Contract	35	12
Pre-modification outstanding recorded investment	$ 2,834	$ 1,032
Post-modification outstanding recorded investment	$ 2,960	$ 1,091
Number of contracts \| Contract	61	23
Recorded Investment	$ 3,213	$ 1,203

Allowance for Credit Losses and Credit Quality of Loans, Changes in Allowance for Loan Losses by Portfolio Segment (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 72,965

^[1]

$ 72,505

$ 69,500

(32,540)

(34,128)

7,588

8,305

^[1]

51,134

25,412

28,828

Commercial Loans [Member]

72,965

^[1]

72,505

Changes in allowance for loan losses by portfolio segment [Roll Forward]

34,525

32,759

27,606

(3,151)

(3,463)

534

1,178

4,383

7,438

Changes in allowance for loan losses by portfolio segment [Roll Forward]

34,525

32,759

Consumer Loans [Member]

35,647

37,178

36,830

(28,398)

(29,752)

6,913

6,821

19,954

23,279

Residential Real Estate [Member]

35,647

37,178

Changes in allowance for loan losses by portfolio segment [Roll Forward]

$ 2,793

2,568

5,064

(991)

(913)

141

306

1,075

(1,889)

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

$ 2,793

$ 2,568

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Allowance for Credit Losses and Credit Quality of Loans, Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Allowance for loans individually evaluated for impairment

$ 72,965

^[1]

$ 72,505

$ 69,500

Allowance for loans collectively evaluated for impairment

72,965

Commercial Loans [Member]

7,136,098

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Allowance for loans individually evaluated for impairment

34,525

32,759

27,606

Allowance for loans collectively evaluated for impairment

34,525

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

3,444,266

Consumer Loans [Member]

Allowance for loans individually evaluated for impairment

35,647

37,178

36,830

Allowance for loans collectively evaluated for impairment

35,647

Residential Real Estate [Member]

2,246,676

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Allowance for loans individually evaluated for impairment

2,793

$ 2,568

$ 5,064

Allowance for loans collectively evaluated for impairment

2,793

Originated Loans [Member]

1,445,156

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Ending balance of loans individually evaluated for impairment

18,253

Ending balance of loans collectively evaluated for impairment

6,852,967

Originated Loans [Member] | Commercial Loans [Member]

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Ending balance of loans individually evaluated for impairment

3,488

Ending balance of loans collectively evaluated for impairment

3,325,512

Originated Loans [Member] | Consumer Loans [Member]

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Ending balance of loans individually evaluated for impairment

7,044

Ending balance of loans collectively evaluated for impairment

2,215,899

Originated Loans [Member] | Residential Real Estate [Member]

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Ending balance of loans individually evaluated for impairment

7,721

Ending balance of loans collectively evaluated for impairment

1,311,556

Acquired Loans [Member]

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Ending balance of loans collectively evaluated for impairment

264,878

Acquired Loans [Member] | Commercial Loans [Member]

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Ending balance of loans collectively evaluated for impairment

115,266

Acquired Loans [Member] | Consumer Loans [Member]

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Ending balance of loans collectively evaluated for impairment

23,733

Acquired Loans [Member] | Residential Real Estate [Member]

Allowance for loan losses and recorded investment by portfolio segment [Abstract]

Ending balance of loans collectively evaluated for impairment

$ 125,879

[1]	Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

Allowance for Credit Losses and Credit Quality of Loans, Impairment Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2019
Total Loans [Abstract]
Recorded investment balance (book)		$ 18,253
Unpaid principal balance (legal)		22,541
Related allowance		0
Threshold balance for classified loans to be evaluated individually for impairment	$ 1,000		$ 750
Originated Loans [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		18,253
Unpaid principal balance (legal)		22,541
Originated Loans [Member] \| Commercial Loans [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		3,488
Unpaid principal balance (legal)		4,182
Originated Loans [Member] \| Commercial Loans [Member] \| C&I [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		76
Unpaid principal balance (legal)		302
Originated Loans [Member] \| Commercial Loans [Member] \| CRE [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		2,410
Unpaid principal balance (legal)		2,437
Originated Loans [Member] \| Commercial Loans [Member] \| Business Banking [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		1,002
Unpaid principal balance (legal)		1,443
Originated Loans [Member] \| Consumer Loans [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		7,044
Unpaid principal balance (legal)		8,605
Originated Loans [Member] \| Consumer Loans [Member] \| Indirect Auto [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		154
Unpaid principal balance (legal)		242
Originated Loans [Member] \| Consumer Loans [Member] \| Direct [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		6,862
Unpaid principal balance (legal)		8,335
Originated Loans [Member] \| Consumer Loans [Member] \| Specialty Lending [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		28
Unpaid principal balance (legal)		28
Originated Loans [Member] \| Residential Real Estate [Member]
With no related allowance recorded [Abstract]
Recorded investment balance (book)		7,721
Unpaid principal balance (legal)		$ 9,754

Allowance for Credit Losses and Credit Quality of Loans, Average Recorded Investments on Loans Specifically Evaluated for Impairment and Interest Income Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	$ 19,733	$ 20,429
Interest income recognized	891	901
Originated Loans [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	19,733	20,429
Interest income recognized	891	901
Originated Loans [Member] \| Commercial Loans [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	4,642	5,549
Interest income recognized	148	155
Originated Loans [Member] \| Commercial Loans [Member] \| C&I [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	242	453
Interest income recognized	1	1
Originated Loans [Member] \| Commercial Loans [Member] \| CRE [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	3,311	4,078
Interest income recognized	123	128
Originated Loans [Member] \| Commercial Loans [Member] \| Business Banking [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	1,089	1,018
Interest income recognized	24	26
Originated Loans [Member] \| Consumer Loans [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	7,586	8,101
Interest income recognized	393	441
Originated Loans [Member] \| Consumer Loans [Member] \| Indirect Auto [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	192	179
Interest income recognized	10	10
Originated Loans [Member] \| Consumer Loans [Member] \| Direct [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	7,387	7,922
Interest income recognized	382	431
Originated Loans [Member] \| Consumer Loans [Member] \| Specialty Lending [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	7	0
Interest income recognized	1	0
Originated Loans [Member] \| Residential Real Estate [Member]
Average Recorded Investment and Interest Income Recognized [Abstract]
Average recorded investment	7,505	6,779
Interest income recognized	$ 350	$ 305

Premises, Equipment and Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Premises and Equipment [Abstract]
Premises and equipment before accumulated depreciation	$ 180,197	$ 179,910
Accumulated depreciation	105,991	104,279
Total premises and equipment	74,206	75,631
Operating lease ROU assets	$ 26,400	$ 34,800
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets
Net Lease Cost [Abstract]
Operating lease cost	$ 7,382	$ 7,239
Variable lease cost	2,141	2,231
Short-term lease cost	453	356
Sublease income	(502)	(448)
Total premises and equipment	9,474	9,378
Future Minimum Rental Commitments Related to Non-cancelable Operating Leases [Abstract]
2021	7,209
2022	6,339
2023	5,251
2024	4,581
2025	3,411
Thereafter	10,023
Total lease payments	36,814
Less: interest	(3,990)
Present value of lease liabilities	$ 32,824	$ 37,300
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities
Additional Information Related to Operating Leases [Abstract]
Weighted average remaining lease term, in years	7 years 2 months 15 days	7 years 8 months 8 days
Weighted average discount rate	3.02%	3.00%
Cash paid for amounts included in the measurement of lease liabilities [Abstract]
Operating cash flows from operating leases	$ 7,934	$ 6,211
ROU assets obtained in exchange for lease liabilities	3,441	41,008
Rental expense	8,000	8,000	$ 8,600
Land, Buildings and Improvements [Member]
Premises and Equipment [Abstract]
Premises and equipment before accumulated depreciation	125,002	121,479
Equipment [Member]
Premises and Equipment [Abstract]
Premises and equipment before accumulated depreciation	$ 55,195	$ 58,431
Equipment [Member] \| Minimum [Member]
Premises and Equipment [Abstract]
Property, plant and equipment, useful life	3 years
Equipment [Member] \| Maximum [Member]
Premises and Equipment [Abstract]
Property, plant and equipment, useful life	10 years
Building and Improvements [Member] \| Minimum [Member]
Premises and Equipment [Abstract]
Property, plant and equipment, useful life	5 years
Building and Improvements [Member] \| Maximum [Member]
Premises and Equipment [Abstract]
Property, plant and equipment, useful life	20 years

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Beginning balance	$ 274,769	$ 274,769
Goodwill acquired	5,772	0
Ending balance	280,541	274,769	$ 274,769
Finite-Lived Intangible Assets [Abstract]
Gross carrying amount	36,008	43,574
Less: accumulated amortization	24,273	31,554
Net carrying amount	11,735	12,020
Impairment of goodwill	0	0
Amortization Expense [Abstract]
Amortization of intangible assets	3,395	3,579	$ 4,042
Future Amortization Expense [Abstract]
2021	2,800
2022	2,200
2023	1,800
2024	1,500
2025	1,200
Thereafter	2,300
Impairment of intangible assets	$ 0	0
Minimum [Member]
Finite-Lived Intangible Assets [Abstract]
Intangible asset useful life	1 year
Maximum [Member]
Finite-Lived Intangible Assets [Abstract]
Intangible asset useful life	20 years
Core Deposits Intangibles [Member]
Finite-Lived Intangible Assets [Abstract]
Gross carrying amount	$ 8,951	8,951
Less: accumulated amortization	8,463	7,988
Net carrying amount	488	963
Identified Intangible Assets [Member]
Finite-Lived Intangible Assets [Abstract]
Gross carrying amount	27,057	34,623
Less: accumulated amortization	15,810	23,566
Net carrying amount	$ 11,247	$ 11,057

Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Maturities of Time Deposits [Abstract]
Within one year	$ 476,983
After one but within two years	77,081
After two but within three years	36,857
After three but within four years	27,888
After four but within five years	14,381
After five years	289
Total	633,479	$ 861,193
Time Deposits, $250,000 or More [Abstract]
Time deposits of $250,000 or more	$ 104,100	$ 140,400

Borrowings, Short-Term Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Short-term borrowings [Abstract]
Balance at year-end	$ 168,386	$ 655,275
FHLB, unused lines of credit available for short-term financing	3,100,000	2,400,000
Federal Funds Purchased [Member]
Short-term borrowings [Abstract]
Balance at year-end	0	65,000	$ 80,000
Average during the year	14,727	47,137	66,839
Maximum month end balance	$ 40,000	$ 80,000	$ 80,000
Weighted average rate during the year	2.05%	3.90%	3.43%
Weighted average rate at year-end	0.00%	2.84%	4.25%
Securities Sold Under Repurchase Agreements [Member]
Short-term borrowings [Abstract]
Balance at year-end	$ 143,386	$ 143,775	$ 160,696
Average during the year	154,383	123,337	146,135
Maximum month end balance	$ 176,840	$ 146,410	$ 170,350
Weighted average rate during the year	0.17%	0.33%	0.16%
Weighted average rate at year-end	0.20%	0.40%	0.38%
Other Short-Term Borrowings [Member]
Short-term borrowings [Abstract]
Balance at year-end	$ 25,000	$ 446,500	$ 631,000
Average during the year	183,699	403,453	514,662
Maximum month end balance	$ 366,500	$ 576,000	$ 653,000
Weighted average rate during the year	1.55%	1.85%	1.56%
Weighted average rate at year-end	1.99%	1.73%	1.82%

Borrowings, Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long-term debt by maturity, amount [Abstract]
Due in next 12 months	$ 25,003	$ 25,000
Due in year two	10,598	25,021
Due in year three		10,598
Due in year eleven	3,496
Due in year twelve		3,592
Total	$ 39,097	$ 64,211
Long-term debt by maturity, weighted average rate [Abstract]
Due in next 12 months	2.56%	2.34%
Due in year two	2.53%	2.56%
Due in year three		2.53%
Due in year eleven	2.45%
Due in year twelve		2.45%

Borrowings, Subordinated Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Summary of Subordinated Notes [Abstract]
Total subordinated debt, net	$ 98,052	$ 0
Subordinated Notes [Member]
Subordinated Debt [Abstract]
Debt instrument, rate on fixed portion	5.00%
Debt issuance cost	$ 2,200
Debt instrument, redemption price percentage of principal amount	100.00%
Summary of Subordinated Notes [Abstract]
Subordinated notes issued June 2020 - fixed interest rate of 5.00% through June 2025 and a variable interest rate equivalent to three-month SOFR plus 4.85% thereafter, maturing July 1, 2030	$ 100,000
Unamortized debt issuance costs	(1,948)
Total subordinated debt, net	$ 98,052
Subordinated Notes [Member] \| Minimum [Member]
Subordinated Debt [Abstract]
Debt issuance cost amortization period	5 years
Subordinated Notes [Member] \| SOFR [Member]
Subordinated Debt [Abstract]
Term of variable rate basis	3 months
Basis spread on variable rate	4.85%

Borrowings, Junior Subordinated Debt (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) Trust Period
Junior Subordinated Debt [Abstract]
Number of statutory business trusts included in the Trusts \| Trust	5
Minimum assets for bank holding companies to be subject to the same capital requirements as insured depository institutions	$ 500,000
CNBF Capital Trust I [Member]
Junior Subordinated Debt [Abstract]
Number of wholly owned Delaware statutory business trusts \| Trust	1
CNBF Capital Trust I [Member] \| LIBOR [Member]
Junior Subordinated Debt [Abstract]
Issuance Date	Aug. 01, 1999
Trust Preferred Securities Outstanding	$ 18,000
Variable rate basis	3-month LIBOR
Basis spread on variable rate	2.75%
Trust Preferred Debt Owed To Trust	$ 18,720
Final Maturity Date	Aug. 01, 2029
NBT Statutory Trust I [Member] \| LIBOR [Member]
Junior Subordinated Debt [Abstract]
Issuance Date	Nov. 01, 2005
Trust Preferred Securities Outstanding	$ 5,000
Variable rate basis	3-month LIBOR
Basis spread on variable rate	1.40%
Trust Preferred Debt Owed To Trust	$ 5,155
Final Maturity Date	Dec. 01, 2035
NBT Statutory Trust II [Member] \| LIBOR [Member]
Junior Subordinated Debt [Abstract]
Issuance Date	Feb. 01, 2006
Trust Preferred Securities Outstanding	$ 50,000
Variable rate basis	3-month LIBOR
Basis spread on variable rate	1.40%
Trust Preferred Debt Owed To Trust	$ 51,547
Final Maturity Date	Mar. 01, 2036
Alliance Financial Capital Trust I [Member] \| LIBOR [Member]
Junior Subordinated Debt [Abstract]
Issuance Date	Dec. 01, 2003
Trust Preferred Securities Outstanding	$ 10,000
Variable rate basis	3-month LIBOR
Basis spread on variable rate	2.85%
Trust Preferred Debt Owed To Trust	$ 10,310
Final Maturity Date	Jan. 01, 2034
Alliance Financial Capital Trust II [Member] \| LIBOR [Member]
Junior Subordinated Debt [Abstract]
Issuance Date	Sep. 01, 2006
Trust Preferred Securities Outstanding	$ 15,000
Variable rate basis	3-month LIBOR
Basis spread on variable rate	1.65%
Trust Preferred Debt Owed To Trust	$ 15,464
Final Maturity Date	Sep. 01, 2036
Alliance Financial Capital [Member]
Junior Subordinated Debt [Abstract]
Number of wholly owned Delaware statutory business trusts \| Trust	2
Trusts [Member]
Junior Subordinated Debt [Abstract]
Trust Preferred Securities Outstanding	$ 98,000
Trust Preferred Debt Owed To Trust	101,000
Trust equity method investment	$ 3,200
Debentures period semi-annual deferral periods \| Period	10
Trust preferred securities included in Tier I capital	$ 97,000
NBT Bancorp Inc [Member]
Junior Subordinated Debt [Abstract]
Trust equity method investment	$ 1,000

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current [Abstract]
Federal	$ 36,358	$ 28,475	$ 15,762
State	9,768	7,653	5,977
Total Current	46,126	36,128	21,739
Deferred [Abstract]
Federal	(14,021)	(1,379)	2,281
State	(3,406)	(338)	416
Total Deferred	(17,427)	(1,717)	2,697
Total income tax expense	28,699	34,411	24,436
Components of income taxes [Abstract]
Tax benefit primarily related to changes in accounting method			5,500
Deferred tax assets [Abstract]
Allowance for loan losses	27,282	18,535
Lease liability	8,141	9,331
Deferred compensation	11,602	8,336
Postretirement benefit obligation	1,511	1,631
Fair value adjustments from acquisitions	259	422
Loan fees	5,400	1,384
Accrued liabilities	1,307	1,176
Stock-based compensation expense	3,213	3,032
Other	3,558	1,498
Total deferred tax assets	62,273	45,345
Deferred tax liabilities [Abstract]
Pension benefits	14,406	13,014
Lease right-of-use asset	6,567	9,259
Amortization of intangible assets	12,725	12,202
Premises and equipment, primarily due to accelerated depreciation	4,774	5,137
Unrealized gain on securities	7,732	1,770
Other	952	1,429
Total deferred tax liabilities	47,156	42,811
Net deferred tax asset at year-end	15,117	2,534	8,795
Net deferred tax asset at beginning of year	2,534	8,795
Increase (decrease) in net deferred tax asset	12,583	(6,261)
Income tax reconciliation [Abstract]
Federal income tax at statutory rate	27,948	32,641	28,770
Tax exempt income	(981)	(1,233)	(1,456)
Net increase in cash surrender value of life insurance	(1,135)	(927)	(973)
Federal tax credit	(1,705)	(1,458)	(1,499)
State taxes, net of federal tax benefit	5,026	5,773	5,051
Accounting method changes - tax rate change impact	0	0	(5,326)
Stock-based compensation, excess tax benefit	(152)	(342)	(456)
Other, net	(302)	(43)	325
Total income tax expense	28,699	34,411	24,436
Reconciliation of gross unrecognized tax benefits [Roll Forward]
Beginning balance	779	641
Additions for tax positions of prior years	254	26
Current period tax positions	145	112
Ending balance	1,178	779	$ 641
Amount that would affect the effective tax rate if recognized, gross of tax	$ 931	$ 615
State and Local Jurisdiction [Member] \| New York State Division of Taxation and Finance [Member]
Income Tax Examination [Abstract]
Tax years under examination	2015 2016 2017 2018 2019

Employee Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined benefit plan disclosure [Abstract]
Transition obligation period of recognition	20 years
Assumptions used to determine benefit obligations [Abstract]
Expected long-term return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Interest rate of credit for cash balance plan	1.62%	2.28%	3.36%
Assumptions used to determine net periodic pension cost [Abstract]
Expected long-term return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Interest rate of credit for cash balance plan	2.28%	3.36%	2.80%
Other changes in plan assets and benefit obligation recognized in OCI (pre-tax) [Abstract]
Net (gain) loss	$ (429)	$ (5,331)	$ 12,457
Amortization of unrecognized net (loss)	$ 107	$ 1,333	$ (3,038)
Estimate future benefit payments [Abstract]
Ultimate health care cost trend rate	3.80%
Actual plan asset allocations [Abstract]
Actual plan asset allocations	100.00%	100.00%
Minimum [Member]
Assumptions used to determine benefit obligations [Abstract]
Discount rate	3.08%	3.69%	4.79%
Assumptions used to determine net periodic pension cost [Abstract]
Discount rate	3.69%	4.79%	4.20%
Estimate future benefit payments [Abstract]
Annual rates of increase in the per capita cost of covered medical and prescription drug benefits,	4.50%
Maximum [Member]
Assumptions used to determine benefit obligations [Abstract]
Discount rate	3.25%	3.73%	4.80%
Assumptions used to determine net periodic pension cost [Abstract]
Discount rate	3.73%	4.80%	4.21%
Estimate future benefit payments [Abstract]
Annual rates of increase in the per capita cost of covered medical and prescription drug benefits,	7.00%
Pension Benefits [Member]
Accumulated other comprehensive income (loss), before tax [Abstract]
Net actuarial loss	$ 26,108	$ 28,334
Prior service cost	378	491
Total amounts recognized in AOCI (pre-tax)	26,486	28,825
Change in benefit obligation [Roll Forward]
Benefit obligation at beginning of year	90,586	85,134
Service cost	1,840	1,723	$ 1,659
Interest cost	3,237	3,942	3,645
Plan participants' contributions	0	0
Actuarial loss (gain)	3,411	6,030
Curtailments	(67)	0
Benefits paid	(8,813)	(6,243)
Projected benefit obligation at end of year	90,194	90,586	85,134
Change in plan assets [Roll Forward]
Fair value of plan assets at beginning of year	122,995	109,746
Gain on plan assets	12,449	18,120
Employer contributions	1,932	1,372
Plan participants' contributions	0	0
Benefits paid	(8,813)	(6,243)
Fair value of plan assets at end of year	128,563	122,995	109,746
Funded (unfunded) status at year end	38,369	32,409
Accumulated benefit obligation	90,200	90,600
Amounts recognized in Balance Sheet [Abstract]
Funded (unfunded) status at year end	38,369	32,409
Components of net periodic (benefit) cost [Abstract]
Service cost	1,840	1,723	1,659
Interest cost	3,237	3,942	3,645
Expected return on plan assets	(8,410)	(7,480)	(8,478)
Additional gain due to curtailment	(74)	0	0
Amortization of prior service cost	41	43	40
Amortization of unrecognized net loss	1,535	2,593	930
Net periodic pension (benefit) cost	(1,831)	821	(2,204)
Other changes in plan assets and benefit obligation recognized in OCI (pre-tax) [Abstract]
Net (gain) loss	(628)	(4,611)	12,882
Prior service cost	0	0	337
Additional gain due to curtailment	7	0	0
Amortization of prior service cost	(41)	(43)	(40)
Amortization of unrecognized net (loss)	(1,535)	(2,593)	(930)
Total recognized in OCI	(2,197)	(7,247)	12,249
Total recognized in net periodic (benefit) cost and OCI, pre-tax	(4,028)	(6,426)	10,045
Estimate future benefit payments [Abstract]
2021	6,910
2022	6,977
2023	6,807
2024	7,083
2025	7,409
2026 - 2030	33,579
Employer voluntary contribution to plan	0	0
Pension Benefits [Member] \| Other Assets [Member]
Amounts recognized in Balance Sheet [Abstract]
Assets recognized	57,456	51,988
Pension Benefits [Member] \| Other Liabilities [Member]
Amounts recognized in Balance Sheet [Abstract]
Liabilities recognized	$ (19,087)	$ (19,579)
Pension Benefits [Member] \| Cash and Cash Equivalents [Member]
Actual plan asset allocations [Abstract]
Actual plan asset allocations	3.00%	3.00%
Pension Benefits [Member] \| Cash and Cash Equivalents [Member] \| Minimum [Member]
Target asset allocations [Abstract]
Target allocation percentage of assets	0.00%
Pension Benefits [Member] \| Cash and Cash Equivalents [Member] \| Maximum [Member]
Target asset allocations [Abstract]
Target allocation percentage of assets	15.00%
Pension Benefits [Member] \| Fixed Income Securities [Member]
Actual plan asset allocations [Abstract]
Actual plan asset allocations	38.00%	40.00%
Pension Benefits [Member] \| Fixed Income Securities [Member] \| Minimum [Member]
Target asset allocations [Abstract]
Target allocation percentage of assets	30.00%
Pension Benefits [Member] \| Fixed Income Securities [Member] \| Maximum [Member]
Target asset allocations [Abstract]
Target allocation percentage of assets	60.00%
Pension Benefits [Member] \| Equities [Member]
Actual plan asset allocations [Abstract]
Actual plan asset allocations	59.00%	57.00%
Pension Benefits [Member] \| Equities [Member] \| Minimum [Member]
Target asset allocations [Abstract]
Target allocation percentage of assets	40.00%
Pension Benefits [Member] \| Equities [Member] \| Maximum [Member]
Target asset allocations [Abstract]
Target allocation percentage of assets	70.00%
Other Benefits [Member]
Accumulated other comprehensive income (loss), before tax [Abstract]
Net actuarial loss	$ 317	$ 125
Prior service cost	43	94
Total amounts recognized in AOCI (pre-tax)	360	219
Change in benefit obligation [Roll Forward]
Benefit obligation at beginning of year	6,083	7,034
Service cost	8	7	10
Interest cost	213	272	327
Plan participants' contributions	173	201
Actuarial loss (gain)	191	(719)
Curtailments	0	0
Benefits paid	(669)	(712)
Projected benefit obligation at end of year	5,999	6,083	7,034
Change in plan assets [Roll Forward]
Fair value of plan assets at beginning of year	0	0
Gain on plan assets	0	0
Employer contributions	496	511
Plan participants' contributions	173	201
Benefits paid	(669)	(712)
Fair value of plan assets at end of year	0	0	0
Funded (unfunded) status at year end	(5,999)	(6,083)
Accumulated benefit obligation	6,000	6,100
Amounts recognized in Balance Sheet [Abstract]
Funded (unfunded) status at year end	(5,999)	(6,083)
Components of net periodic (benefit) cost [Abstract]
Service cost	8	7	10
Interest cost	213	272	327
Expected return on plan assets	0	0	0
Additional gain due to curtailment	0	0	0
Amortization of prior service cost	51	50	51
Amortization of unrecognized net loss	0	0	124
Net periodic pension (benefit) cost	272	329	512
Other changes in plan assets and benefit obligation recognized in OCI (pre-tax) [Abstract]
Net (gain) loss	192	(720)	(762)
Prior service cost	0	0	0
Additional gain due to curtailment	0	0	0
Amortization of prior service cost	(51)	(50)	(51)
Amortization of unrecognized net (loss)	0	0	(124)
Total recognized in OCI	141	(770)	(937)
Total recognized in net periodic (benefit) cost and OCI, pre-tax	413	(441)	$ (425)
Estimate future benefit payments [Abstract]
2021	453
2022	451
2023	448
2024	443
2025	436
2026 - 2030	1,962
Employer voluntary contribution to plan	0	0
Other Benefits [Member] \| Other Assets [Member]
Amounts recognized in Balance Sheet [Abstract]
Assets recognized	0	0
Other Benefits [Member] \| Other Liabilities [Member]
Amounts recognized in Balance Sheet [Abstract]
Liabilities recognized	$ (5,999)	$ (6,083)

Employee Benefit Plans, Financial Instruments Recorded At Fair Value On A Recurring Basis By The Plan (Details) - Pension Benefits [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	$ 128,563	$ 122,995	$ 109,746
Recurring Basis [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	128,563	122,995
Recurring Basis [Member] \| Level 1 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	80,098	74,268
Recurring Basis [Member] \| Level 2 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	48,465	48,727
Recurring Basis [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	3,461	4,143
Recurring Basis [Member] \| Cash and Cash Equivalents [Member] \| Level 1 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	3,461	4,143
Recurring Basis [Member] \| Cash and Cash Equivalents [Member] \| Level 2 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	0	0
Recurring Basis [Member] \| Foreign Equity Mutual Funds [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	41,000	40,239
Recurring Basis [Member] \| Foreign Equity Mutual Funds [Member] \| Level 1 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	41,000	40,239
Recurring Basis [Member] \| Foreign Equity Mutual Funds [Member] \| Level 2 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	0	0
Recurring Basis [Member] \| Equity Mutual Funds [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	35,637	29,886
Recurring Basis [Member] \| Equity Mutual Funds [Member] \| Level 1 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	35,637	29,886
Recurring Basis [Member] \| Equity Mutual Funds [Member] \| Level 2 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	0	0
Recurring Basis [Member] \| US Government Bonds [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	47	58
Recurring Basis [Member] \| US Government Bonds [Member] \| Level 1 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	0	0
Recurring Basis [Member] \| US Government Bonds [Member] \| Level 2 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	47	58
Recurring Basis [Member] \| Corporate Bonds [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	48,418	48,669
Recurring Basis [Member] \| Corporate Bonds [Member] \| Level 1 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	0	0
Recurring Basis [Member] \| Corporate Bonds [Member] \| Level 2 [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Fair value of plan assets	$ 48,418	$ 48,669

Employee Benefit Plans, 401(k) Plan and Other Retirement Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Retirement Benefits [Abstract]
Supplemental retirement benefits for retired executives under other retirement benefits plan	$ 1.6	$ 1.7
Expense related to other retirement benefits plan	0.2	0.1	$ 0.1
401(K) Plan [Member]
Defined benefit plan disclosure [Abstract]
Employer contribution to plan	$ 3.6	$ 3.6	$ 3.2

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Additional disclosures [Abstract]
Stock-based compensation expense	$ 4,581	$ 4,210	$ 3,936
Number of shares available for future grant (in shares)	781,123
Stock Options [Member]
Share-based compensation [Abstract]
Stock awards termination period	10 years
Stock options [Roll Forward]
Outstanding, beginning of period (in shares)	33,145
Exercised (in shares)	(8,845)
Expired (in shares)	(10,500)
Outstanding, end of period (in shares)	13,800	33,145
Exercisable, end of period (in shares)	13,800
Stock options, weighted average exercise price [Abstract]
Outstanding, beginning of period (in dollars per share)	$ 23.73
Exercised (in dollars per share)	20.87
Expired (in dollars per share)	20.74
Outstanding, end of period (in dollars per share)	27.83	$ 23.73
Exercisable, end of period (in dollars per share)	$ 27.83
Additional disclosures [Abstract]
Weighted average remaining contractual term, outstanding, end of period	3 years 4 months 9 days
Weighted average remaining contractual term, exercisable, end of period	3 years 4 months 9 days
Aggregate intrinsic value, outstanding, end of period	$ 75
Aggregate intrinsic value, exercisable, end of period	75
Stock-based compensation expense	0	$ 1	11
Proceeds from stock options exercised	185	725	999
Tax benefits related to stock options exercised	41	123	173
Intrinsic value of stock options exercised	165	490	692
Fair value of shares vested during the year	0	13	16
Restricted Stock [Member]
Additional disclosures [Abstract]
Stock-based compensation expense	$ 4,600	$ 4,200	3,900
Restricted Stock [Member] \| Employees [Member] \| Minimum [Member]
Share-based compensation [Abstract]
Stock awards vesting period	3 years
Restricted Stock [Member] \| Employees [Member] \| Maximum [Member]
Share-based compensation [Abstract]
Stock awards vesting period	5 years
Restricted Stock [Member] \| Non-employee Directors [Member]
Share-based compensation [Abstract]
Stock awards vesting period	3 years
Restricted Stock Units (RSUs) [Member]
Restricted stock and restricted stock units [Roll Forward]
Unvested, beginning of period (in shares)	555,440
Forfeited (in shares)	(2,315)
Vested (in shares)	(115,432)
Granted (in shares)	147,562
Unvested, end of period (in shares)	585,255	555,440
Restricted stock and restricted stock units, weighted average grant date fair value [Abstract]
Unvested, beginning of period (in dollars per share)	$ 30.11
Forfeited (in dollars per share)	34.82
Vested (in dollars per share)	29.93
Granted (in dollars per share)	28.61
Unvested, end of period (in dollars per share)	$ 29.78	$ 30.11
Restricted Stock Awards and Stock Units [Member]
Additional disclosures [Abstract]
Tax benefit on restricted stock awards	$ 1,000	$ 1,100	$ 1,200
Unrecognized compensation cost	$ 5,100
Unrecognized compensation cost, weighted average period of recognition	1 year 6 months

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Jan. 27, 2021	Dec. 31, 2019	Dec. 31, 2018
Stockholders' Equity [Abstract]
Unrecognized prior service cost and net actuarial (losses) on pension plans	$ (20,134)		$ (21,677)	$ (27,689)
Unrealized (losses) gains on derivatives (cash flow hedges)	(16)		(32)	1,821
Unrealized net holding gains (losses) on AFS securities	20,567		2,683	(17,306)
AOCI	$ 417		$ (19,026)	$ (43,174)
Preceding period of retained net profits for approval of Office of Comptroller of the Currency	2 years
Statutory amount available for dividend payments	$ 194,200
Stock Repurchase Program [Abstract]
Purchase of common stock (in shares)	263,507
Purchase of common stock value	$ 7,980
Average price per share (in dollars per share)	$ 30.28
Number of shares available for repurchase under stock repurchase program (in shares)	736,493
Number of shares authorized under stock repurchase program (in shares)	1,000,000
Subsequent Event [Member]
Stock Repurchase Program [Abstract]
Number of shares authorized under stock repurchase program (in shares)		2,000,000

Regulatory Capital Requirements (Details) $ in Thousands	12 Months Ended
Regulatory Capital Requirements (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Tier I Capital (to average assets) [Abstract]
Tier I capital to average assets	$ 1,018,320	$ 963,147
Tier I capital to average assets ratio	0.0956	0.1033
Minimum Tier I leverage capital required for capital adequacy to average assets	0.0400	0.0400
Tier I leverage capital required for classification as well capitalized to average assets	0.0500	0.0500
Common Equity Tier I Capital [Abstract]
Common equity Tier I capital	$ 921,320	$ 866,147
Common equity Tier I capital ratio	0.1184	0.1129
Minimum Tier I capital required for capital adequacy	0.0450	0.0450
Minimum Tier I capital required for capital adequacy plus buffer	0.0700	0.0700
Tier I capital required for classification as well capitalized	0.0650	0.0650
Tier I Capital (to risk weighted assets) [Abstract]
Tier I capital to risk weighted assets	$ 1,018,320	$ 963,147
Tier I capital to risk weighted assets ratio	0.1309	0.1256
Minimum Tier I capital required for capital adequacy to risk weighted assets	0.0600	0.0600
Minimum Tier I capital required for capital adequacy plus buffer to risk weighted assets	0.0850	0.0850
Tier I capital required for classification as well capitalized to risk weighted assets	0.0800	0.0800
Total Capital (to risk weighted assets) [Abstract]
Total capital to risk weighted assets	$ 1,215,672	$ 1,037,041
Total capital to risk weighted assets ratio	0.1562	0.1352
Minimum capital required for capital adequacy to risk weighted assets	0.0800	0.0800
Total capital required for capital adequacy plus buffer to average assets	0.1050	0.1050
Capital required for classification as well capitalized to risk weighted assets	0.1000	0.1000
Permissible capital transition relief period	5 years
NBT Bank [Member]
Tier I Capital (to average assets) [Abstract]
Tier I capital to average assets	$ 1,054,097	$ 894,407
Tier I capital to average assets ratio	0.0995	0.0964
Minimum Tier I leverage capital required for capital adequacy to average assets	0.0400	0.0400
Tier I leverage capital required for classification as well capitalized to average assets	0.0500	0.0500
Common Equity Tier I Capital [Abstract]
Common equity Tier I capital	$ 1,054,097	$ 894,407
Common equity Tier I capital ratio	0.1367	0.1176
Minimum Tier I capital required for capital adequacy	0.0450	0.0450
Minimum Tier I capital required for capital adequacy plus buffer	0.0700	0.0700
Tier I capital required for classification as well capitalized	0.0650	0.0650
Tier I Capital (to risk weighted assets) [Abstract]
Tier I capital to risk weighted assets	$ 1,054,097	$ 894,407
Tier I capital to risk weighted assets ratio	0.1367	0.1176
Minimum Tier I capital required for capital adequacy to risk weighted assets	0.0600	0.0600
Minimum Tier I capital required for capital adequacy plus buffer to risk weighted assets	0.0850	0.0850
Tier I capital required for classification as well capitalized to risk weighted assets	0.0800	0.0800
Total Capital (to risk weighted assets) [Abstract]
Total capital to risk weighted assets	$ 1,150,544	$ 968,301
Total capital to risk weighted assets ratio	0.1493	0.1273
Minimum capital required for capital adequacy to risk weighted assets	0.0800	0.0800
Total capital required for capital adequacy plus buffer to average assets	0.1050	0.1050
Capital required for classification as well capitalized to risk weighted assets	0.1000	0.1000

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic EPS [Abstract]
Net income	$ 104,388	$ 121,021	$ 112,566
Weighted average shares, basic (in shares)	43,693	43,815	43,701
Basic EPS (in dollars per share)	$ 2.39	$ 2.76	$ 2.58
Diluted earnings per share [Abstract]
Net income	$ 104,388	$ 121,021	$ 112,566
Dilutive effect of stock based compensation (in shares)	296	309	319
Weighted average shares, diluted (in shares)	43,989	44,124	44,020
Diluted EPS (in dollars per share)	$ 2.37	$ 2.74	$ 2.56

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794