0001140361-21-016193 | 10-Q | XBRL Viewer

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Securities (Policies)	3 Months Ended
Securities (Policies)	Mar. 31, 2021
Securities [Abstract]
Investment, Policy	The Company does not believe the AFS securities that were in an unrealized loss position as of March 31, 2021 and December 31, 2020, which consisted of 83 and 23 individual securities, respectively, 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 March 31, 2021 and 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 $3.2 million at March 31, 2021 and $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 non-accrual status as of March 31, 2021 and December 31, 2020. There was no accrued interest reversed against interest income for the three months ended March 31, 2021 or 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 March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, 59% and 65%, respectively, of the Company’s HTM debt securities were 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 March 31, 2021 and December 31, 2020. The remaining HTM debt securities at March 31, 2021 and December 31, 2020 were comprised of state and municipal obligations with bond ratings of A to AAA. Utilizing the Current Expected Credit Losses (“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 March 31, 2021 and December 31, 2020. AIR on HTM debt securities totaled $2.7 million at March 31, 2021 and December 31, 2020 and is excluded from the estimate of credit losses and reported in the other assets financial statement line.

Allowance for Credit Losses and Credit Quality of Loans, Troubled Debt Restructuring (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($) Contract	Mar. 31, 2020 USD ($) Contract
Recorded Investment and Number of Modifications Designated as TDRs [Abstract]
Number of contracts \| Contract	3	8
Pre-modification outstanding recorded investment	$ 242	$ 735
Post-modification outstanding recorded investment	$ 252	$ 779
Recorded Investment and Number of Modifications for TDRs Where a Concession Has Been Made and Subsequently Defaulted [Abstract]
Number of contracts \| Contract	19	17
Recorded Investment	$ 642	$ 1,190
Commercial Loans [Member]
Recorded Investment and Number of Modifications for TDRs Where a Concession Has Been Made and Subsequently Defaulted [Abstract]
Number of contracts \| Contract	0	1
Recorded Investment	$ 0	$ 387
Commercial Loans [Member] \| C&I [Member]
Recorded Investment and Number of Modifications for TDRs Where a Concession Has Been Made and Subsequently Defaulted [Abstract]
Number of contracts \| Contract	0	1
Recorded Investment	$ 0	$ 387
Consumer Loans [Member]
Recorded Investment and Number of Modifications Designated as TDRs [Abstract]
Number of contracts \| Contract	0	1
Pre-modification outstanding recorded investment	$ 0	$ 44
Post-modification outstanding recorded investment	$ 0	$ 44
Recorded Investment and Number of Modifications for TDRs Where a Concession Has Been Made and Subsequently Defaulted [Abstract]
Number of contracts \| Contract	2	0
Recorded Investment	$ 18	$ 0
Consumer Loans [Member] \| Auto [Member]
Recorded Investment and Number of Modifications Designated as TDRs [Abstract]
Number of contracts \| Contract	0	1
Pre-modification outstanding recorded investment	$ 0	$ 44
Post-modification outstanding recorded investment	$ 0	$ 44
Recorded Investment and Number of Modifications for TDRs Where a Concession Has Been Made and Subsequently Defaulted [Abstract]
Number of contracts \| Contract	2	0
Recorded Investment	$ 18	$ 0
Residential [Member]
Recorded Investment and Number of Modifications Designated as TDRs [Abstract]
Number of contracts \| Contract	3	7
Pre-modification outstanding recorded investment	$ 242	$ 691
Post-modification outstanding recorded investment	$ 252	$ 735
Recorded Investment and Number of Modifications for TDRs Where a Concession Has Been Made and Subsequently Defaulted [Abstract]
Number of contracts \| Contract	17	16
Recorded Investment	$ 624	$ 803

Allowance for Credit Losses and Credit Quality of Loans, Allowance for Credit Losses by Portfolio Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Activity in allowance for credit losses by portfolio segment [Roll Forward]
Balance, beginning of period	$ 110,000	$ 75,999
Charge-offs	(4,660)	(8,226)
Recoveries	2,456	2,587
Provision	(2,796)	29,640
Balance, end of period	105,000	100,000
Commercial Loans [Member]
Activity in allowance for credit losses by portfolio segment [Roll Forward]
Balance, beginning of period	50,942	27,156
Charge-offs	(242)	(1,020)
Recoveries	118	228
Provision	(773)	15,848
Balance, end of period	50,045	42,212
Consumer Loans [Member]
Activity in allowance for credit losses by portfolio segment [Roll Forward]
Balance, beginning of period	37,803	32,122
Charge-offs	(4,348)	(6,891)
Recoveries	2,075	2,235
Provision	(950)	10,080
Balance, end of period	34,580	37,546
Residential [Member]
Activity in allowance for credit losses by portfolio segment [Roll Forward]
Balance, beginning of period	21,255	16,721
Charge-offs	(70)	(315)
Recoveries	263	124
Provision	(1,073)	3,712
Balance, end of period	$ 20,375	$ 20,242

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2021
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements include the accounts of NBT Bancorp Inc. and its wholly-owned subsidiaries, the Bank, NBT Financial and NBT Holdings. Collectively, NBT Bancorp Inc. and its subsidiaries are referred to herein as (“the Company”). The interim data includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods in accordance with generally accepted accounting principles in the United States of America (“GAAP”). These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s 2020 Annual Report on Form 10-K. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. All material intercompany transactions have been eliminated in consolidation. Amounts previously reported in the consolidated financial statements are reclassified whenever necessary to conform to current period presentation. The Company has evaluated subsequent events for potential recognition and/or disclosure and there were none identified.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results may differ from those estimates and such differences could be material to the financial statements.

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Guarantor Obligations [Abstract]
Obligation instrument term	1 year
Commitment to Extend Credits and Unused Lines of Credit [Member]
Guarantor Obligations [Abstract]
Commitments - maximum potential obligation	$ 2,100.0	$ 2,200.0
Standby Letters of Credit [Member]
Guarantor Obligations [Abstract]
Commitments - maximum potential obligation	$ 54.6	$ 54.0

Securities, Gains and (Losses) on Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Gains (losses) on equity securities [Abstract]
Net gains and (losses) recognized on equity securities	$ 452	$ (815)
Less: Net gains and (losses) recognized on equity securities sold during the period	0	0
Unrealized gains and (losses) recognized on equity securities still held	452	(815)
Equity Securities without Readily Determinable Fair Value, Annual Amount [Abstract]
Carrying amount of equity securities without readily determinable fair values	2,000		$ 2,000
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

Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities [Abstract]

Derivative Instruments and Hedging Activities

9.	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.

The Company is subject to over-the-counter derivative clearing requirements, which require certain derivatives to be cleared through central clearing houses. Accordingly, the Company began to clear certain derivative transactions through the Chicago Mercantile Exchange Clearing House (“CME”) in January of 2021. This clearing house requires the Company to post initial and variation margin to mitigate the risk of non-payment, the latter of which is received or paid daily based on the net asset or liability position of the contracts. A daily settlement occurs through the CME for changes in the fair value of centrally cleared derivatives. Not all of the derivatives are required to be cleared through the daily clearing agent. As a result, the total fair values of loan level derivative assets and liabilities recognized on the Company’s financial statements are not equal and offsetting.

As of March 31, 2021 and December 31, 2020, the Company had seventeen risk participation agreements with financial institution counterparties for interest rate swaps related to participated loans. 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 previously entered into interest rate swaps to modify the interest rate characteristics of certain short-term Federal Home Loan Bank (“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 summarizes the derivatives outstanding:

(In thousands)	Notional Amount		Balance Sheet Location	Fair Value		Notional Amount		Balance Sheet Location	Fair Value
As of March 31, 2021
Derivatives not designated as hedging instruments
Interest rate derivatives	$	1,268,421	Other assets	$	70,589	$	1,268,421	Other liabilities	$	70,589
Risk participation agreements		72,131	Other assets		124		39,153	Other liabilities		72
Total derivatives not designated as hedging instruments				$	70,713				$	70,661
Netting adjustments⁽¹⁾					100					513
Net derivatives in the balance sheet				$	70,613				$	70,148
Derivatives not offset on the balance sheet				$	9,911				$	9,911
Cash collateral⁽²⁾					-					50,126
Net derivative amounts				$	60,702				$	10,111

As of December 31, 2020
Derivatives designated as hedging instruments
Interest rate derivatives	$	-	Other assets	$	-	$	25,000	Other liabilities	$	34

Derivatives not designated as hedging instruments
Interest rate derivatives	$	1,223,584	Other assets	$	108,487	$	1,223,584	Other liabilities	$	108,487
Risk participation agreements		72,528	Other assets		292		39,785	Other liabilities		125
Total derivatives not designated as hedging instruments				$	108,779				$	108,612
Cash collateral⁽²⁾					-					107,350
Net derivative amounts				$	108,779				$	1,262

(1)Netting adjustments represents the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance on the settle to market rules for cleared derivatives. The CME legally characterizes the variation margin posted between counterparties as settlements of the outstanding derivative contracts instead of cash collateral. Company began to clear certain derivative transactions through the CME in 2021.

(2)Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consist of securities and is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above.

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 three months ended March 31, 2021 the Company’s final cash flow hedge of interest rate risk matured and the renaming balance was reclassified from AOCI as a reduction to interest expense. There is no additional amount that 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 unaudited interim consolidated statement of income:

	March 31,
(In thousands)	2021		2020
Derivatives designated as hedging instruments:
Interest rate derivatives - included component
Amount of (loss) recognized in other comprehensive income	$	-	$	(255	)
Amount of loss reclassified from AOCI into interest expense		21		10

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

	March 31,
(In thousands)	2021			2020
Derivatives not designated as hedging instruments:
(Increase) decrease in other income	$	(115	)	$	143

Securities, Available for Sale (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Debt securities, available-for-sale [Abstract]
Amortized cost	$ 1,380,352		$ 1,318,711
Unrealized gains	23,958		32,166
Unrealized losses	17,282		2,179
Estimated fair value	1,387,028		1,348,698
Allowance for credit losses on AFS securities	0		0
Gross realized gains	0	$ 3
Gross realized losses	0
Gains from calls on securities available for sale		$ 3
Federal Agency [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	258,479		245,590
Unrealized gains	2		59
Unrealized losses	9,594		2,052
Estimated fair value	248,887		243,597
State & Municipal [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	49,048		42,550
Unrealized gains	128		630
Unrealized losses	1,151		0
Estimated fair value	48,025		43,180
Mortgage-Backed, Government Sponsored Enterprises [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	606,988		521,448
Unrealized gains	12,506		17,079
Unrealized losses	5,448		22
Estimated fair value	614,046		538,505
Mortgage-Backed, U.S. Government Agency Securities [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	57,913		55,049
Unrealized gains	1,390		2,332
Unrealized losses	110		47
Estimated fair value	59,193		57,334
Collateralized Mortgage Obligations, Government-Sponsored Enterprises [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	278,532		311,710
Unrealized gains	6,568		7,549
Unrealized losses	934		58
Estimated fair value	284,166		319,201
Collateralized Mortgage Obligations, U.S. Government Agency Securities [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	101,892		114,864
Unrealized gains	2,655		3,739
Unrealized losses	0		0
Estimated fair value	104,547		118,603
Corporate [Member]
Debt securities, available-for-sale [Abstract]
Amortized cost	27,500		27,500
Unrealized gains	709		778
Unrealized losses	45		0
Estimated fair value	$ 28,164		$ 28,278

Defined Benefit Post-Retirement Plans

3 Months Ended

Mar. 31, 2021

Employee Benefit Plans [Abstract]

Defined Benefit Post-Retirement Plans

6.	Defined Benefit Post-Retirement Plans

The Company has a qualified, noncontributory, defined benefit pension plan (“the Plan”) covering substantially all of its employees at March 31, 2021. Benefits paid from the Plan are based on age, years of service, compensation, 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. 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 former executives of Alliance Financial Corporation (“Alliance”) when the Company acquired Alliance. 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. 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.”

The Company made no voluntary contributions to the pension and other benefits plans during the three months ended March 31, 2021 and 2020.

The components of expense for Pension Benefits and Other Benefits are set forth below:

	Pension Benefits						Other Benefits
	Three Months Ended March 31,						Three Months Ended March 31,
(In thousands)	2021			2020			2021		2020
Components of net periodic (benefit) cost:
Service cost	$	485		$	446		$	2	$	2
Interest cost		677			809			45		55
Expected return on plan assets		(2,203	)		(2,105	)		-		-
Net amortization		313			368			13		13
Total net periodic (benefit) cost	$	(728	)	$	(482	)	$	60	$	70

The service cost component of 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 unaudited interim consolidated statements of income.

- Definition

The entire disclosure for retirement benefits.

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+ Details

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

3 Months Ended

Mar. 31, 2021

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 December 31, 2020	$	50,942		$	37,803		$	21,255		$	110,000
Charge-offs		(242	)		(4,348	)		(70	)		(4,660	)
Recoveries		118			2,075			263			2,456
Provision		(773	)		(950	)		(1,073	)		(2,796	)
Ending balance as of March 31, 2021	$	50,045		$	34,580		$	20,375		$	105,000

Balance as of January 1, 2020 (after adoption of ASC 326)	$	27,156		$	32,122		$	16,721		$	75,999
Charge-offs		(1,020	)		(6,891	)		(315	)		(8,226	)
Recoveries		228			2,235			124			2,587
Provision		15,848			10,080			3,712			29,640
Ending balance as of March 31, 2020	$	42,212		$	37,546		$	20,242		$	100,000

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 March 31, 2021
Commercial loans:
C&I	$	1,985	$	402	$	-	$	2,387	$	4,994	$	1,145,359	$	1,152,740
CRE		374		291		74		739		19,512		2,430,963		2,451,214
PPP		-		-		-		-		-		536,494		536,494
Total commercial loans	$	2,359	$	693	$	74	$	3,126	$	24,506	$	4,112,816	$	4,140,448
Consumer loans:
Auto	$	4,365	$	847	$	503	$	5,715	$	1,789	$	865,474	$	872,978
Other consumer		2,867		1,830		1,109		5,806		286		633,245		639,337
Total consumer loans	$	7,232	$	2,677	$	1,612	$	11,521	$	2,075	$	1,498,719	$	1,512,315
Residential	$	1,096	$	339	$	469	$	1,904	$	16,818	$	1,961,974	$	1,980,696
Total loans	$	10,687	$	3,709	$	2,155	$	16,551	$	43,399	$	7,573,509	$	7,633,459

(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

Financing Receivable Credit Quality by Loan Class

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

(In thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of March 31, 2021
C&I
By internally assigned grade:
Pass	$	113,273	$	305,135	$	157,578	$	82,451	$	34,635	$	55,540	$	310,850	$	10,149	$	1,069,611
Special mention		13		15,988		6,099		4,576		4,149		4,001		17,420		-		52,246
Substandard		-		405		7,672		8,262		2,865		4,411		6,537		527		30,679
Doubtful		-		-		-		-		203		1		-		-		204
Total C&I	$	113,286	$	321,528	$	171,349	$	95,289	$	41,852	$	63,953	$	334,807	$	10,676	$	1,152,740

CRE
By internally assigned grade:
Pass	$	132,195	$	452,951	$	356,643	$	260,570	$	253,673	$	535,309	$	134,394	$	2,860	$	2,128,595
Special mention		-		2,544		41,189		7,508		54,121		88,045		1,293		-		194,700
Substandard		-		534		20,160		17,651		13,719		65,288		1,253		-		118,605
Doubtful		-		-		1,897		-		-		7,417		-		-		9,314
Total CRE	$	132,195	$	456,029	$	419,889	$	285,729	$	321,513	$	696,059	$	136,940	$	2,860	$	2,451,214

PPP
By internally assigned grade:
Pass	$	218,938	$	317,556	$	-	$	-	$	-	$	-	$	-	$	-	$	536,494
Total PPP	$	218,938	$	317,556	$	-	$	-	$	-	$	-	$	-	$	-	$	536,494

Auto
By payment activity:
Performing	$	98,666	$	183,147	$	280,077	$	173,240	$	94,084	$	41,451	$	21	$	-	$	870,686
Nonperforming		10		271		596		751		664		-		-		-		2,292
Total auto	$	98,676	$	183,418	$	280,673	$	173,991	$	94,748	$	41,451	$	21	$	-	$	872,978

Other consumer
By payment activity:
Performing	$	67,050	$	208,960	$	159,896	$	112,634	$	47,920	$	26,535	$	14,923	$	24	$	637,942
Nonperforming		-		197		467		344		239		121		10		17		1,395
Total other consumer	$	67,050	$	209,157	$	160,363	$	112,978	$	48,159	$	26,656	$	14,933	$	41	$	639,337

Residential
By payment activity:
Performing	$	67,100	$	233,363	$	204,995	$	204,255	$	173,135	$	808,168	$	259,861	$	12,532	$	1,963,409
Nonperforming		-		1,379		650		2,298		2,228		10,670		-		62		17,287
Total residential	$	67,100	$	234,742	$	205,645	$	206,553	$	175,363	$	818,838	$	259,861	$	12,594	$	1,980,696

Total loans	$	697,245	$	1,722,430	$	1,237,919	$	874,540	$	681,635	$	1,646,957	$	746,562	$	26,171	$	7,633,459

(In thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31, 2020
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

Troubled Debt Restructurings on Financing Receivables

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:

	Three Months Ended March 31, 2021						Three Months Ended March 31, 2020
(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Consumer loans:
Auto		-	$	-	$	-		1	$	44	$	44
Total consumer loans		-	$	-	$	-		1	$	44	$	44
Residential		3	$	242	$	252		7	$	691	$	735
Total TDRs		3	$	242	$	252		8	$	735	$	779

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:

	Three Months Ended March 31, 2021				Three Months Ended March 31, 2020
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Commercial loans:
C&I		-	$	-		1	$	387
Total commercial loans		-	$	-		1	$	387
Consumer loans:
Auto		2	$	18		-	$	-
Total consumer loans		2	$	18		-	$	-
Residential		17	$	624		16	$	803
Total TDRs		19	$	642		17	$	1,190

Allowance for Credit Losses and Credit Quality of Loans, Allowance for Credit Losses on Off-Balance Sheet Credit Exposures (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Allowance for Credit Losses and Credit Quality of Loans [Abstract]
Allowance for credit losses	$ 105,000	$ 110,000	$ 100,000	$ 75,999
Unfunded Commitment [Member]
Allowance for Credit Losses and Credit Quality of Loans [Abstract]
Allowance for credit losses	$ 5,900	$ 6,400

Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2021

Recent Accounting Pronouncements [Abstract]

Recent Accounting Pronouncements

3.	Recent Accounting Pronouncements

Recently Adopted Accounting Standards

In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“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 were effective for the Company on January 1, 2021, and interim periods within those fiscal years. The adoption did not have a material impact on the consolidated financial statements and related disclosures.

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 Accounting Standards Codification 848 (“ASC 848”) and clarifies some of its guidance. ASU 2020-04 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 available for sale (“AFS”) or trading held to maturity (“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.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Earnings Per Share

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

	Three Months Ended March 31,
(In thousands, except per share data)	2021		2020
Basic EPS:
Weighted average common shares outstanding		43,559		43,835
Net income available to common stockholders	$	39,846	$	10,368
Basic EPS	$	0.91	$	0.24

Diluted EPS:
Weighted average common shares outstanding		43,559		43,835
Dilutive effect of common stock options and restricted stock		331		295
Weighted average common shares and common share equivalents		43,890		44,130
Net income available to common stockholders	$	39,846	$	10,368
Diluted EPS	$	0.91	$	0.23

Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Measurements and Fair Value of Financial Instruments [Abstract]

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

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		March 31, 2021
Assets:
AFS securities:
Federal agency	$	-	$	248,887	$	-	$	248,887
State & municipal		-		48,025		-		48,025
Mortgage-backed		-		673,239		-		673,239
Collateralized mortgage obligations		-		388,713		-		388,713
Corporate		-		28,164		-		28,164
Total AFS securities	$	-	$	1,387,028	$	-	$	1,387,028
Equity securities		30,247		2,000		-		32,247
Derivatives		-		70,713		-		70,713
Total	$	30,247	$	1,459,741	$	-	$	1,489,988

Liabilities:
Derivatives	$	-	$	70,661	$	-	$	70,661
Total	$	-	$	70,661	$	-	$	70,661

(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

Information with Regard to Estimated Fair Values of Financial Instruments

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.

		March 31, 2021				December 31, 2020
(In thousands)	Fair Value Hierarchy	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
HTM securities	2	$	592,999	$	600,176	$	616,560	$	636,827
Net loans	3		7,634,754		7,677,033		7,390,004		7,530,033
Financial liabilities:
Time deposits	2	$	604,373	$	606,134	$	633,479	$	638,721
Long-term debt	2		14,069		14,651		39,097		39,820
Subordinated debt	1		100,000		105,024		100,000		103,277
Junior subordinated debt	2		101,196		108,841		101,196		108,926

Fair Value Measurements and Fair Value of Financial Instruments (Policies)	3 Months Ended
	Mar. 31, 2021
Fair Value Measurements and Fair Value 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; and 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 nontransferability 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 three month period ended March 31, 2021 and the year ended December 31, 2020 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 March 31, 2021, the Company had collateral dependent individually evaluated loans with a carrying value of $15.8 million, which had an estimated allowance for credit loss of $3.9 million. 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. 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

3 Months Ended

Mar. 31, 2021

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited interim consolidated financial statements include the accounts of NBT Bancorp Inc. and its wholly-owned subsidiaries, the Bank, NBT Financial and NBT Holdings. Collectively, NBT Bancorp Inc. and its subsidiaries are referred to herein as (“the Company”). The interim data includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods in accordance with generally accepted accounting principles in the United States of America (“GAAP”). These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s 2020 Annual Report on Form 10-K. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. All material intercompany transactions have been eliminated in consolidation. Amounts previously reported in the consolidated financial statements are reclassified whenever necessary to conform to current period presentation. The Company has evaluated subsequent events for potential recognition and/or disclosure and there were none identified.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results may differ from those estimates and such differences could be material to the financial statements.

Recent Accounting Pronouncements (Policies)	3 Months Ended
Recent Accounting Pronouncements (Policies)	Mar. 31, 2021
Recent Accounting Pronouncements [Abstract]
Recently Adopted Accounting Standards and Accounting Standards Issued Not Yet Adopted	Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“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 were effective for the Company on January 1, 2021, and interim periods within those fiscal years. The adoption did not have a material impact on the consolidated financial statements and related disclosures. 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 Accounting Standards Codification 848 (“ASC 848”) and clarifies some of its guidance. ASU 2020-04 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 available for sale (“AFS”) or trading held to maturity (“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.

Securities, AFS Debt Securities, Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Available-for-sale Securities, Debt Maturities, Amortized Cost [Abstract]
Within one year	$ 1,710
From one to five years	22,127
From five to ten years	572,232
After ten years	784,283
Amortized cost	1,380,352	$ 1,318,711
Available-for-sale Securities, Debt Maturities, Estimated Fair Value [Abstract]
Within one year	1,724
From one to five years	22,984
From five to ten years	564,112
After ten years	798,208
Fair value	$ 1,387,028	$ 1,348,698

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 182,830	$ 159,995
Short-term interest bearing accounts	972,195	512,686
Equity securities, at fair value	32,247	30,737
Securities available for sale, at fair value	1,387,028	1,348,698
Securities held to maturity (fair value $600,176 and $636,827, respectively)	592,999	616,560
Federal Reserve and Federal Home Loan Bank stock	25,127	27,353
Loans held for sale	1,295	1,119
Loans	7,633,459	7,498,885
Less allowance for loan losses	105,000	110,000
Net loans	7,528,459	7,388,885
Premises and equipment, net	72,705	74,206
Goodwill	280,541	280,541
Intangible assets, net	10,923	11,735
Bank owned life insurance	187,458	186,434
Other assets	263,446	293,957
Total assets	11,537,253	10,932,906
Liabilities
Demand (noninterest bearing)	3,495,622	3,241,123
Savings, NOW and money market	5,715,935	5,207,090
Time	604,373	633,479
Total deposits	9,815,930	9,081,692
Short-term borrowings	95,339	168,386
Long-term debt	14,069	39,097
Subordinated debt, net	98,162	98,052
Junior subordinated debt	101,196	101,196
Other liabilities	221,576	256,865
Total liabilities	10,346,272	9,745,288
Stockholders' equity
Preferred stock, $0.01 par value. Authorized 2,500,000 shares at March 31, 2021 and December 31, 2020	0	0
Common stock, $0.01 par value. Authorized 100,000,000 shares at March 31, 2021 and December 31, 2020, issued 49,651,493 at March 31, 2021 and December 31, 2020	497	497
Additional paid-in-capital	578,597	578,082
Retained earnings	777,170	749,056
Accumulated other comprehensive (loss) income	(16,699)	417
Common stock in treasury, at cost, 6,226,291 and 6,022,399 shares at March 31, 2021 and December 31, 2020, respectively	(148,584)	(140,434)
Total stockholders' equity	1,190,981	1,187,618
Total liabilities and stockholders' equity	$ 11,537,253	$ 10,932,906

Securities, HTM Debt Securities, Contractual Maturities (Details) $ in Thousands	Mar. 31, 2021 USD ($) Issuer	Dec. 31, 2020 USD ($) Issuer
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract]
Within one year	$ 18,116
From one to five years	57,331
From five to ten years	228,313
After ten years	289,239
Amortized cost	592,999	$ 616,560
Held-to-maturity Securities, Debt Maturities, Estimated Fair Value [Abstract]
Within one year	18,155
From one to five years	58,621
From five to ten years	227,625
After ten years	295,775
Fair value	$ 600,176	$ 636,827
Number of issuers whose holdings exceeded 10% of consolidated stockholders' equity, excluding U.S. Government securities and Government-sponsored enterprises securities \| Issuer	0	0

Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Summary of Derivatives Outstanding

The following table summarizes the derivatives outstanding:

(In thousands)	Notional Amount		Balance Sheet Location	Fair Value		Notional Amount		Balance Sheet Location	Fair Value
As of March 31, 2021
Derivatives not designated as hedging instruments
Interest rate derivatives	$	1,268,421	Other assets	$	70,589	$	1,268,421	Other liabilities	$	70,589
Risk participation agreements		72,131	Other assets		124		39,153	Other liabilities		72
Total derivatives not designated as hedging instruments				$	70,713				$	70,661
Netting adjustments⁽¹⁾					100					513
Net derivatives in the balance sheet				$	70,613				$	70,148
Derivatives not offset on the balance sheet				$	9,911				$	9,911
Cash collateral⁽²⁾					-					50,126
Net derivative amounts				$	60,702				$	10,111

As of December 31, 2020
Derivatives designated as hedging instruments
Interest rate derivatives	$	-	Other assets	$	-	$	25,000	Other liabilities	$	34

Derivatives not designated as hedging instruments
Interest rate derivatives	$	1,223,584	Other assets	$	108,487	$	1,223,584	Other liabilities	$	108,487
Risk participation agreements		72,528	Other assets		292		39,785	Other liabilities		125
Total derivatives not designated as hedging instruments				$	108,779				$	108,612
Cash collateral⁽²⁾					-					107,350
Net derivative amounts				$	108,779				$	1,262

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 unaudited interim consolidated statement of income:

	March 31,
(In thousands)	2021		2020
Derivatives designated as hedging instruments:
Interest rate derivatives - included component
Amount of (loss) recognized in other comprehensive income	$	-	$	(255	)
Amount of loss reclassified from AOCI into interest expense		21		10

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:

	March 31,
(In thousands)	2021			2020
Derivatives not designated as hedging instruments:
(Increase) decrease in other income	$	(115	)	$	143

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

Fair Value Measurements and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
AFS securities [Abstract]
AFS securities	$ 1,387,028	$ 1,348,698
Equity securities	32,247	30,737
Fair Value Measurements [Abstract]
Collateral dependent impaired loans with specific reserve	15,800	15,200
Reserves on collateral dependent impaired loans	$ 3,900	3,200
Minimum [Member]
Fair Value Measurements [Abstract]
Liquidation expense ratio on impaired collateral	10.00%
Maximum [Member]
Fair Value Measurements [Abstract]
Liquidation expense ratio on impaired collateral	50.00%
Recurring Basis [Member]
AFS securities [Abstract]
AFS securities	$ 1,387,028	1,348,698
Equity securities	32,247	30,737
Derivatives	70,713	108,779
Total	1,489,988	1,488,214
Liabilities [Abstract]
Derivatives	70,661	108,646
Total	70,661	108,646
Recurring Basis [Member] \| Level 1 [Member]
AFS securities [Abstract]
AFS securities	0	0
Equity securities	30,247	28,737
Derivatives	0	0
Total	30,247	28,737
Liabilities [Abstract]
Derivatives	0	0
Total	0	0
Recurring Basis [Member] \| Level 2 [Member]
AFS securities [Abstract]
AFS securities	1,387,028	1,348,698
Equity securities	2,000	2,000
Derivatives	70,713	108,779
Total	1,459,741	1,459,477
Liabilities [Abstract]
Derivatives	70,661	108,646
Total	70,661	108,646
Recurring Basis [Member] \| Level 3 [Member]
AFS securities [Abstract]
AFS securities	0	0
Equity securities	0	0
Derivatives	0	0
Total	0	0
Liabilities [Abstract]
Derivatives	0	0
Total	0	0
Recurring Basis [Member] \| Federal Agency [Member]
AFS securities [Abstract]
AFS securities	248,887	243,597
Recurring Basis [Member] \| Federal Agency [Member] \| Level 1 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| Federal Agency [Member] \| Level 2 [Member]
AFS securities [Abstract]
AFS securities	248,887	243,597
Recurring Basis [Member] \| Federal Agency [Member] \| Level 3 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| State & Municipal [Member]
AFS securities [Abstract]
AFS securities	48,025	43,180
Recurring Basis [Member] \| State & Municipal [Member] \| Level 1 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| State & Municipal [Member] \| Level 2 [Member]
AFS securities [Abstract]
AFS securities	48,025	43,180
Recurring Basis [Member] \| State & Municipal [Member] \| Level 3 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| Mortgage-Backed [Member]
AFS securities [Abstract]
AFS securities	673,239	595,839
Recurring Basis [Member] \| Mortgage-Backed [Member] \| Level 1 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| Mortgage-Backed [Member] \| Level 2 [Member]
AFS securities [Abstract]
AFS securities	673,239	595,839
Recurring Basis [Member] \| Mortgage-Backed [Member] \| Level 3 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| Collateralized Mortgage Obligations [Member]
AFS securities [Abstract]
AFS securities	388,713	437,804
Recurring Basis [Member] \| Collateralized Mortgage Obligations [Member] \| Level 1 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| Collateralized Mortgage Obligations [Member] \| Level 2 [Member]
AFS securities [Abstract]
AFS securities	388,713	437,804
Recurring Basis [Member] \| Collateralized Mortgage Obligations [Member] \| Level 3 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| Corporate [Member]
AFS securities [Abstract]
AFS securities	28,164	28,278
Recurring Basis [Member] \| Corporate [Member] \| Level 1 [Member]
AFS securities [Abstract]
AFS securities	0	0
Recurring Basis [Member] \| Corporate [Member] \| Level 2 [Member]
AFS securities [Abstract]
AFS securities	28,164	28,278
Recurring Basis [Member] \| Corporate [Member] \| Level 3 [Member]
AFS securities [Abstract]
AFS securities	$ 0	$ 0

Description of Business (Policies)	3 Months Ended
Description of Business (Policies)	Mar. 31, 2021
Description of Business [Abstract]
Nature of Operations	NBT Bancorp Inc. (the “Company”) is a registered financial holding company incorporated in the state of Delaware in 1986, with its principal headquarters located in Norwich, New York. The principal assets of the Company consist of all of the outstanding shares of common stock of its subsidiaries, including: NBT Bank, National Association (the “Bank”), NBT Financial Services, Inc. (“NBT Financial”), NBT Holdings, Inc. (“NBT Holdings”), 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 principal sources of revenue are the management fees and dividends it receives from the Bank, NBT Financial and NBT Holdings. The Company’s business, primarily conducted through the Bank, consists of providing commercial banking, retail banking and wealth management services primarily to customers in its market area, which includes central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont, the southern coastal Maine area and central Connecticut. The Company has been, and intends to continue to be, a community-oriented financial institution offering a variety of financial services. The Company’s business philosophy is to operate as a community bank with local decision-making, providing a broad array of banking and financial services to retail, commercial and municipal customers.

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Comprehensive Income (unaudited) [Abstract]
Net income	$ 39,846	$ 10,368
Securities available for sale:
Unrealized net holding (losses) gains arising during the period, gross	(23,311)	21,339
Tax effect	5,827	(5,335)
Unrealized net holding (losses) gains arising during the period, net	(17,484)	16,004
Reclassification adjustment for net gains in net income, gross	0	(3)
Tax effect	0	1
Reclassification adjustment for net gains in net income, net	0	(2)
Amortization of unrealized net gains for the reclassification of available for sale securities to held to maturity, gross	142	173
Tax effect	(35)	(43)
Amortization of unrealized net gains for the reclassification of available for sale securities to held to maturity, net	107	130
Total securities available for sale, net	(17,377)	16,132
Cash flow hedges:
Unrealized losses on derivatives (cash flow hedges), gross	0	(255)
Tax effect	0	64
Unrealized losses on derivatives (cash flow hedges), net	0	(191)
Reclassification of net unrealized losses on cash flow hedges to interest (income), gross	21	10
Tax effect	(5)	(3)
Reclassification of net unrealized losses on cash flow hedges to interest (income), net	16	7
Total cash flow hedges, net	16	(184)
Pension and other benefits:
Amortization of prior service cost and actuarial losses, gross	326	381
Tax effect	(81)	(95)
Amortization of prior service cost and actuarial losses, net	245	286
Total pension and other benefits, net	245	286
Total other comprehensive (loss) income	(17,116)	16,234
Comprehensive income	$ 22,730	$ 26,602

Allowance for Credit Losses and Credit Quality of Loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Allowance for Credit Losses [Abstract]
Allowance for credit losses	$ 105,000	$ 110,000	$ 100,000	$ 75,999
Percentage of allowance of credit losses	1.38%	1.47%
Retained earnings	$ 777,170	$ 749,056
Loans purchased with credit deterioration	0	0
Accrued Interest Receivable [Member]
Allowance for Credit Losses [Abstract]
Allowance for credit losses	500	600
AIR on loans	$ 22,600	23,700
Write-off of uncollectible interest period	120 days
ASU 2016-13 [Member] \| Loans [Member]
Allowance for Credit Losses [Abstract]
Allowance for credit losses				3,000
Retained earnings				(2,300)
Deferred tax asset				700
Consumer Loans [Member]
Allowance for Credit Losses [Abstract]
Allowance for credit losses	$ 34,580	37,803	$ 37,546	$ 32,122
Amount of loans purchased		$ 51,900
Discount on loans purchased		1.00%
Allowance for credit losses on loans purchased		$ 3,600

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Securities held to maturity fair value	$ 600,176	$ 636,827
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)	6,226,291	6,022,399

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Entity Registrant Name	NBT BANCORP INC
Entity Central Index Key	0000790359
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	0-14703
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-1268674
Entity Address, Address Line One	52 South Broad Street
Entity Address, City or Town	Norwich
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	13815
City Area Code	607
Local Phone Number	337-2265
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NBTB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		43,425,202

Reclassification Adjustments Out of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reclassification Adjustment out of AOCI [Abstract]
Net securities (gains) losses	$ 467	$ (812)
Interest income (expense)	79,055	77,181
Other noninterest expense	2,757	6,957
Income tax (benefit)	11,155	1,715
Net income	39,846	10,368
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of AOCI [Abstract]
Total reclassifications during the period, net of tax	368	421
Accumulated Net Unrealized Investment Gain (Loss) [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of AOCI [Abstract]
Income tax (benefit)	(35)	(42)
Net income	107	128
Gains on AFS Securities [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of AOCI [Abstract]
Net securities (gains) losses	0	(3)
Amortization of Unrealized Gains Related to Securities Transfer [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of AOCI [Abstract]
Interest income (expense)	142	173
Net Unrealized Losses on Cash Flow Hedges Reclassified to Interest Expense [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of AOCI [Abstract]
Interest income (expense)	21	10
Income tax (benefit)	(5)	(3)
Net income	16	7
Accumulated Defined Benefit Plans Adjustment [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of AOCI [Abstract]
Income tax (benefit)	(81)	(95)
Net income	245	286
Amortization of Net Losses [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of AOCI [Abstract]
Other noninterest expense	298	358
Amortization of Prior Service Costs [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of AOCI [Abstract]
Other noninterest expense	$ 28	$ 23

Allowance for Credit Losses and Credit Quality of Loans

3 Months Ended

Mar. 31, 2021

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

Allowance for Credit Losses and Credit Quality of Loans

5.	Allowance for Credit Losses and Credit Quality of Loans

The allowance for credit losses totaled $105.0 million at March 31, 2021, compared to $110.0 million at December 31, 2020. The allowance for credit losses as a percentage of loans was 1.38% at March 31, 2021, compared to 1.47% at December 31, 2020. The decrease in the allowance for credit losses from December 31, 2020 to March 31, 2021 was primarily due to the positive impact the improving economic conditions had on expected credit losses.

The Day 1 increase in the allowance for credit loss on loans relating to adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments was $3.0 million which decreased retained earnings by $2.3 million and increased the deferred tax asset by $0.7 million. The increase in the allowance for credit losses from Day 1 to March 31, 2020 was primarily due to macroeconomic factors surrounding the coronavirus (“COVID-19”) pandemic.

The March 31, 2021, December 31, 2020, March 31, 2020 and Day 1 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 reverts to long-term economic conditions over a 4-quarter reversion period on a straight-line basis. The Company considers a baseline, upside, and downside economic forecast in measuring in the allowance.

The quantitative model as of March 31, 2021 incorporated a baseline economic outlook along with an alternative downside scenario 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 to below 5% by mid-2022. Northeast GDP’s annualized growth (on a quarterly basis) was expected to start 2021 in the low to mid-single digits, with a peak growth rate of 10% in the fourth quarter of 2021 and steadily falling back down to normalized levels through 2023. Other utilized economic variables also showed improvement in their respective forecasts. Key assumptions in the baseline economic outlook included herd immunity expected by summer 2021, additional legislation focused on infrastructure and social benefits enacted in the second half of 2021 and GDP growth expectations at levels not seen since the 1980s. The alternative downside scenario assumed deteriorated economic and epidemiological conditions from the baseline outlook, leading to a double-dip recession. The alternative upside scenario was not incorporated by management because of the underlying assumptions, forecasted economic data and modeled default rates. These scenarios and their respective weightings are evaluated at each measurement date and reflect management’s expectations as of March 31, 2021. Additional adjustments were made for COVID-19 related factors not incorporated in the forecasts, such as the mitigating impact of unprecedented stimulus in 2020 and 2021, including direct payments to individuals, increased unemployment benefits, the Company’s loan deferral and modification initiatives and various government-sponsored loan programs. Additionally, the Company identified a slightly higher level of criticized and classified loans at in the first quarter of 2021 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 March 31, 2021.

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.

There were no loans purchased with credit deterioration during the three months ended March 31, 2021 or 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 $22.6 million at March 31, 2021 and $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 March 31, 2021 was $0.5 million and $0.6 million at December 31, 2020.

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 December 31, 2020	$	50,942		$	37,803		$	21,255		$	110,000
Charge-offs		(242	)		(4,348	)		(70	)		(4,660	)
Recoveries		118			2,075			263			2,456
Provision		(773	)		(950	)		(1,073	)		(2,796	)
Ending balance as of March 31, 2021	$	50,045		$	34,580		$	20,375		$	105,000

Balance as of January 1, 2020 (after adoption of ASC 326)	$	27,156		$	32,122		$	16,721		$	75,999
Charge-offs		(1,020	)		(6,891	)		(315	)		(8,226	)
Recoveries		228			2,235			124			2,587
Provision		15,848			10,080			3,712			29,640
Ending balance as of March 31, 2020	$	42,212		$	37,546		$	20,242		$	100,000

The decrease in the allowance for credit losses from December 31, 2020 to March 31, 2021 was primarily due to an improvement in the economic forecast. The increase in the allowance for credit losses from Day 1 to March 31, 2020 was primarily due to macroeconomic factors surrounding the COVID-19 pandemic.

Individually Evaluated Loans

As of March 31, 2021, there were five relationships identified to be evaluated for loss on an individual basis which had an amortized cost basis of $15.8 million. These loans’ allowance for credit loss was $3.9 million and was determined by an estimate of the fair value of the collateral which consisted of business assets (accounts receivable, inventory and machinery and equipment). As of December 31, 2020, the same five relationships were identified to be evaluated for loss on an individual basis which had an amortized cost basis of $15.2 million and the allowance for credit loss was $3.2 million. 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 March 31, 2021
Commercial loans:
C&I	$	1,985	$	402	$	-	$	2,387	$	4,994	$	1,145,359	$	1,152,740
CRE		374		291		74		739		19,512		2,430,963		2,451,214
PPP		-		-		-		-		-		536,494		536,494
Total commercial loans	$	2,359	$	693	$	74	$	3,126	$	24,506	$	4,112,816	$	4,140,448
Consumer loans:
Auto	$	4,365	$	847	$	503	$	5,715	$	1,789	$	865,474	$	872,978
Other consumer		2,867		1,830		1,109		5,806		286		633,245		639,337
Total consumer loans	$	7,232	$	2,677	$	1,612	$	11,521	$	2,075	$	1,498,719	$	1,512,315
Residential	$	1,096	$	339	$	469	$	1,904	$	16,818	$	1,961,974	$	1,980,696
Total loans	$	10,687	$	3,709	$	2,155	$	16,551	$	43,399	$	7,573,509	$	7,633,459

(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 March 31, 2021 and December 31, 2020, there were no loans in non-accrual 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 Commercial and Industrial (“C&I”), Paycheck Protection Program (“PPP”) and Commercial Real Estate (“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.

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:

(In thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of March 31, 2021
C&I
By internally assigned grade:
Pass	$	113,273	$	305,135	$	157,578	$	82,451	$	34,635	$	55,540	$	310,850	$	10,149	$	1,069,611
Special mention		13		15,988		6,099		4,576		4,149		4,001		17,420		-		52,246
Substandard		-		405		7,672		8,262		2,865		4,411		6,537		527		30,679
Doubtful		-		-		-		-		203		1		-		-		204
Total C&I	$	113,286	$	321,528	$	171,349	$	95,289	$	41,852	$	63,953	$	334,807	$	10,676	$	1,152,740

CRE
By internally assigned grade:
Pass	$	132,195	$	452,951	$	356,643	$	260,570	$	253,673	$	535,309	$	134,394	$	2,860	$	2,128,595
Special mention		-		2,544		41,189		7,508		54,121		88,045		1,293		-		194,700
Substandard		-		534		20,160		17,651		13,719		65,288		1,253		-		118,605
Doubtful		-		-		1,897		-		-		7,417		-		-		9,314
Total CRE	$	132,195	$	456,029	$	419,889	$	285,729	$	321,513	$	696,059	$	136,940	$	2,860	$	2,451,214

PPP
By internally assigned grade:
Pass	$	218,938	$	317,556	$	-	$	-	$	-	$	-	$	-	$	-	$	536,494
Total PPP	$	218,938	$	317,556	$	-	$	-	$	-	$	-	$	-	$	-	$	536,494

Auto
By payment activity:
Performing	$	98,666	$	183,147	$	280,077	$	173,240	$	94,084	$	41,451	$	21	$	-	$	870,686
Nonperforming		10		271		596		751		664		-		-		-		2,292
Total auto	$	98,676	$	183,418	$	280,673	$	173,991	$	94,748	$	41,451	$	21	$	-	$	872,978

Other consumer
By payment activity:
Performing	$	67,050	$	208,960	$	159,896	$	112,634	$	47,920	$	26,535	$	14,923	$	24	$	637,942
Nonperforming		-		197		467		344		239		121		10		17		1,395
Total other consumer	$	67,050	$	209,157	$	160,363	$	112,978	$	48,159	$	26,656	$	14,933	$	41	$	639,337

Residential
By payment activity:
Performing	$	67,100	$	233,363	$	204,995	$	204,255	$	173,135	$	808,168	$	259,861	$	12,532	$	1,963,409
Nonperforming		-		1,379		650		2,298		2,228		10,670		-		62		17,287
Total residential	$	67,100	$	234,742	$	205,645	$	206,553	$	175,363	$	818,838	$	259,861	$	12,594	$	1,980,696

Total loans	$	697,245	$	1,722,430	$	1,237,919	$	874,540	$	681,635	$	1,646,957	$	746,562	$	26,171	$	7,633,459

(In thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31, 2020
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 March 31, 2021, the allowance for losses on unfunded commitments totaled $5.9 million, compared to $6.4 million as of December 31, 2020

Troubled Debt Restructuring

When the Company modifies a loan in a troubled debt restructuring (“TDR”), 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 2021 and 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 Coronavirus Aid, Relief and Economic Security Act (“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.

	Three Months Ended March 31, 2021						Three Months Ended March 31, 2020
(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Consumer loans:
Auto		-	$	-	$	-		1	$	44	$	44
Total consumer loans		-	$	-	$	-		1	$	44	$	44
Residential		3	$	242	$	252		7	$	691	$	735
Total TDRs		3	$	242	$	252		8	$	735	$	779

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:

	Three Months Ended March 31, 2021				Three Months Ended March 31, 2020
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Commercial loans:
C&I		-	$	-		1	$	387
Total commercial loans		-	$	-		1	$	387
Consumer loans:
Auto		2	$	18		-	$	-
Total consumer loans		2	$	18		-	$	-
Residential		17	$	624		16	$	803
Total TDRs		19	$	642		17	$	1,190

Defined Benefit Post-Retirement Plans (Tables)

3 Months Ended

Mar. 31, 2021

Employee Benefit Plans [Abstract]

Net Periodic Pension Benefits and Other Benefit Costs

The components of expense for Pension Benefits and Other Benefits are set forth below:

	Pension Benefits						Other Benefits
	Three Months Ended March 31,						Three Months Ended March 31,
(In thousands)	2021			2020			2021		2020
Components of net periodic (benefit) cost:
Service cost	$	485		$	446		$	2	$	2
Interest cost		677			809			45		55
Expected return on plan assets		(2,203	)		(2,105	)		-		-
Net amortization		313			368			13		13
Total net periodic (benefit) cost	$	(728	)	$	(482	)	$	60	$	70

Reclassification Adjustments Out of Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2021

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

Reclassification Adjustments Out of Other Comprehensive Income (Loss)

8.	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)
	Three Months Ended
(In thousands)	March 31, 2021			March 31, 2020
AFS securities:
Gains on AFS securities	$	-		$	(3	)	Net securities (gains) losses
Amortization of unrealized gains related to securities transfer		142			173		Interest income
Tax effect	$	(35	)	$	(42	)	Income tax (benefit)
Net of tax	$	107		$	128

Cash flow hedges:
Net unrealized losses on cash flow hedges reclassified to interest expense	$	21		$	10		Interest expense
Tax effect	$	(5	)	$	(3	)	Income tax (benefit)
Net of tax	$	16		$	7

Pension and other benefits:
Amortization of net losses	$	298		$	358		Other noninterest expense
Amortization of prior service costs		28			23		Other noninterest expense
Tax effect	$	(81	)	$	(95	)	Income tax (benefit)
Net of tax	$	245		$	286

Total reclassifications, net of tax	$	368		$	421

Derivative Instruments and Hedging Activities (Details)
$ in Thousands

3 Months Ended

Mar. 31, 2021

USD ($)

Agreement

Mar. 31, 2020

USD ($)

Dec. 31, 2020

USD ($)

Agreement

Interest rate derivatives - Included Component [Abstract]

Amount of (loss) recognized in other comprehensive income

$ 0

$ (255)

Amount of loss reclassified from AOCI into interest expense

Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member]

Interest rate derivatives - Included Component [Abstract]

Amount of (loss) recognized in other comprehensive income

(255)

Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Interest (Income) Expense [Member]

Interest rate derivatives - Included Component [Abstract]

Amount of loss reclassified from AOCI into interest expense

Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member]

Derivative Liability [Abstract]

Amount to be reclassified from AOCI as a reduction to interest expense during next twelve months

Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Other Assets [Member]

Derivative Asset [Abstract]

Derivatives, notional amount

$ 0

Derivatives, fair value

Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Other Liabilities [Member]

Derivative Liability [Abstract]

Derivatives, notional amount

25,000

Derivatives, fair value

Derivatives Not Designated as Hedging Instruments [Member]

Derivative Asset [Abstract]

Derivatives, fair value

70,713

108,779

Netting adjustments, fair value

^[1]

100

Net derivatives in the balance sheet, fair value

70,613

Derivatives not offset on the balance sheet, fair value

9,911

Cash collateral, fair value

^[2]

Net derivative amounts, fair value

60,702

108,779

Derivative Liability [Abstract]

Derivatives, fair value

70,661

108,612

Netting adjustments, fair value

^[1]

513

Net derivatives in the balance sheet, fair value

70,148

Derivatives not offset on the balance sheet, fair value

9,911

Cash collateral, fair value

^[2]

50,126

107,350

Net derivative amounts, fair value

10,111

$ 1,262

Derivatives Not Designated as Hedging Instruments [Member] | Other Income [Member]

Gain or loss recognized in income on derivatives not designating as a hedging relationship [Abstract]

(Increase) decrease in other income

$ (115)

$ 143

Derivatives Not Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member]

Interest rate derivatives [Abstract]

Number of risk participation agreements held | Agreement

Derivatives Not Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member] | Other Assets [Member]

Derivative Asset [Abstract]

Derivatives, notional amount

$ 1,268,421

$ 1,223,584

Derivatives, fair value

70,589

108,487

Derivatives Not Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member] | Other Liabilities [Member]

Derivative Liability [Abstract]

Derivatives, notional amount

1,268,421

1,223,584

Derivatives, fair value

70,589

108,487

Derivatives Not Designated as Hedging Instruments [Member] | Risk Participation Agreements [Member] | Other Assets [Member]

Derivative Asset [Abstract]

Derivatives, notional amount

72,131

72,528

Derivatives, fair value

124

292

Derivatives Not Designated as Hedging Instruments [Member] | Risk Participation Agreements [Member] | Other Liabilities [Member]

Derivative Liability [Abstract]

Derivatives, notional amount

39,153

39,785

Derivatives, fair value

$ 72

$ 125

[1]

Netting adjustments represents the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance on the settle to market rules for cleared derivatives. The CME legally characterizes the variation margin posted between counterparties as settlements of the outstanding derivative contracts instead of cash collateral. Company began to clear certain derivative transactions through the CME in 2021.

[2]

Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consist of securities and is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above.

Earnings Per Share (Policies)	3 Months Ended
Earnings Per Share (Policies)	Mar. 31, 2021
Earnings Per Share [Abstract]
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).

Commitments and Contingencies

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies [Abstract]

Commitments and Contingencies

11.	Commitments and Contingencies

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 investments. 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. Commitments to extend credit and unused lines of credit totaled $2.1 billion at March 31, 2021 and $2.2 billion at December 31, 2020.

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 generally 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. Standby letters of credit totaled $54.6 million at March 31, 2021 and $54.0 million at December 31, 2020. As of March 31, 2021 and December 31, 2020, the fair value of the Company’s standby letters of credit was not significant.

Defined Benefit Post-Retirement Plans (Policies)	3 Months Ended
Defined Benefit Post-Retirement Plans (Policies)	Mar. 31, 2021
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 March 31, 2021. Benefits paid from the Plan are based on age, years of service, compensation, 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. 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 former executives of Alliance Financial Corporation (“Alliance”) when the Company acquired Alliance. 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. 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.” The Company made no voluntary contributions to the pension and other benefits plans during the three months ended March 31, 2021 and 2020.

Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest, fee and dividend income
Interest and fees on loans	$ 75,093	$ 78,728
Securities available for sale	5,544	5,753
Securities held to maturity	3,382	4,091
Other	291	829
Total interest, fee and dividend income	84,310	89,401
Interest expense
Deposits	3,172	9,104
Short-term borrowings	70	1,797
Long-term debt	124	393
Subordinated debt	1,359	0
Junior subordinated debt	530	926
Total interest expense	5,255	12,220
Net interest income	79,055	77,181
Provision for loan losses	(2,796)	29,640
Net interest income after provision for loan losses	81,851	47,541
Noninterest income
Service charges on deposit accounts	3,027	3,997
ATM and debit card fees	6,862	5,854
Retirement plan administration fees	10,098	7,941
Wealth management	7,910	7,273
Insurance	3,461	4,269
Bank owned life insurance income	1,381	1,374
Net securities gains (losses)	467	(812)
Other	3,832	5,527
Total noninterest income	37,038	35,423
Noninterest expense
Salaries and employee benefits	41,601	40,750
Occupancy	5,873	5,995
Data processing and communications	4,731	4,233
Professional fees and outside services	3,589	3,897
Equipment	5,177	4,642
Office supplies and postage	1,499	1,636
FDIC expenses	808	311
Advertising	451	609
Amortization of intangible assets	812	834
Loan collection and other real estate owned, net	590	1,017
Other	2,757	6,957
Total noninterest expense	67,888	70,881
Income before income tax expense	51,001	12,083
Income tax expense	11,155	1,715
Net income	$ 39,846	$ 10,368
Earnings per share
Basic (in dollars per share)	$ 0.91	$ 0.24
Diluted (in dollars per share)	$ 0.91	$ 0.23

Consolidated Statements of Stockholders' Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Stockholders' Equity (unaudited) [Abstract]
Cash dividends - per share (in dollars per share)	$ 0.27	$ 0.54
Purchase of treasury shares (in shares)	257,031	263,507
Net issuance of shares to employee benefit plans and other stock plans (in shares)	53,139	54,341

Defined Benefit Post-Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Benefit Plans [Abstract]
Employer contributions	$ 0	$ 0
Pension Benefits [Member]
Components of net periodic (benefit) cost [Abstract]
Service cost	485	446
Interest cost	677	809
Expected return on plan assets	(2,203)	(2,105)
Net amortization	313	368
Net periodic pension (benefit) cost	(728)	(482)
Other Benefits [Member]
Components of net periodic (benefit) cost [Abstract]
Service cost	2	2
Interest cost	45	55
Expected return on plan assets	0	0
Net amortization	13	13
Net periodic pension (benefit) cost	$ 60	$ 70

Securities, HTM Securities in Continuous Unrealized Loss Position (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021 USD ($) Position	Dec. 31, 2020 USD ($) Position
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 172,786	$ 103,147
12 months or longer	0	0
Total	172,786	103,147
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(8,316)	(1,675)
12 months or longer	0	0
Total	$ (8,316)	$ (1,675)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	61	9
12 months or longer \| Position	0	0
Total \| Position	61	9
Held-to-maturity, past due	$ 0	$ 0
Accrued interest reversed against interest income	0	0
Collateral-dependent HTM debt securities	0	0
AIR on HTM debt securities	2,700	2,700
Federal Agency [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	94,159	98,342
12 months or longer	0	0
Total	94,159	98,342
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(5,841)	(1,658)
12 months or longer	0	0
Total	$ (5,841)	$ (1,658)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	4	4
12 months or longer \| Position	0	0
Total \| Position	4	4
Mortgage-Backed [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 8,312
12 months or longer	0
Total	8,312
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(108)
12 months or longer	0
Total	$ (108)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	1
12 months or longer \| Position	0
Total \| Position	1
State & Municipal [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 70,315	$ 4,805
12 months or longer	0	0
Total	70,315	4,805
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(2,367)	(17)
12 months or longer	0	0
Total	$ (2,367)	$ (17)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	56	5
12 months or longer \| Position	0	0
Total \| Position	56	5
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	59.00%	65.00%

Fair Value Measurements and Fair Value of Financial Instruments, Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial assets [Abstract]
HTM securities	$ 600,176	$ 636,827
Carrying Amount [Member] \| Level 1 [Member]
Financial liabilities [Abstract]
Subordinated debt	100,000	100,000
Carrying Amount [Member] \| Level 2 [Member]
Financial assets [Abstract]
HTM securities	592,999	616,560
Financial liabilities [Abstract]
Time deposits	604,373	633,479
Long-term debt	14,069	39,097
Junior subordinated debt	101,196	101,196
Carrying Amount [Member] \| Level 3 [Member]
Financial assets [Abstract]
Net loans	7,634,754	7,390,004
Estimated Fair Value [Member] \| Level 1 [Member]
Financial liabilities [Abstract]
Subordinated debt	105,024	103,277
Estimated Fair Value [Member] \| Level 2 [Member]
Financial assets [Abstract]
HTM securities	600,176	636,827
Financial liabilities [Abstract]
Time deposits	606,134	638,721
Long-term debt	14,651	39,820
Junior subordinated debt	108,841	108,926
Estimated Fair Value [Member] \| Level 3 [Member]
Financial assets [Abstract]
Net loans	$ 7,677,033	$ 7,530,033

Securities

3 Months Ended

Mar. 31, 2021

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 March 31, 2021
Federal agency	$	258,479	$	2	$	9,594	$	248,887
State & municipal		49,048		128		1,151		48,025
Mortgage-backed:
Government-sponsored enterprises		606,988		12,506		5,448		614,046
U.S. government agency securities		57,913		1,390		110		59,193
Collateralized mortgage obligations:
Government-sponsored enterprises		278,532		6,568		934		284,166
U.S. government agency securities		101,892		2,655		-		104,547
Corporate		27,500		709		45		28,164
Total AFS securities	$	1,380,352	$	23,958	$	17,282	$	1,387,028
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

There was no allowance for credit losses on AFS securities as March 31, 2021 and December 31, 2020.

During the three months ended March 31, 2021 there were no gains or losses reclassified out of accumulated other comprehensive income (loss) (“AOCI”) and into earnings. During the three months ended March 31, 2020 there were $3 thousand of gross realized gains reclassified out of AOCI and into earnings. Included in net realized gains (losses) on AFS securities, the Company recorded gains from call of approximately $3 thousand for the three months ended March 31, 2020.

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

(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
As of March 31, 2021
Federal agency	$	100,000	$	-	$	5,841	$	94,159
Mortgage-backed:
Government-sponsored enterprises		92,584		3,312		108		95,788
U.S. government agency securities		10,309		670		-		10,979
Collateralized mortgage obligations:
Government-sponsored enterprises		92,059		4,078		-		96,137
U.S. government agency securities		53,814		2,124		-		55,938
State & municipal		244,233		5,309		2,367		247,175
Total HTM securities	$	592,999	$	15,493	$	8,316	$	600,176
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

At March 31, 2021 and December 31, 2020, 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 March 31, 2021 and December 31, 2020.

Included in net realized gains (losses), the Company recorded gains from calls on HTM securities of approximately $15 thousand for the three months ended March 31, 2021. There were no recorded gains from calls on HTM securities included in net realized gains (losses) for the three months ended March 31, 2020.

AFS and HTM securities with amortized costs totaling $1.6 billion at March 31, 2021 and $1.4 billion December 31, 2020 were pledged to secure public deposits and for other purposes required or permitted by law. Additionally, at March 31, 2021 and December 31, 2020, AFS and HTM securities with an amortized cost of $273.2 million and $305.2 million, respectively, were pledged as collateral for securities sold under repurchase agreements.

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

	Three Months Ended March 31,
(In thousands)	2021		2020
Net gains and (losses) recognized on equity securities	$	452	$	(815	)
Less: Net gains and (losses) recognized on equity securities sold during the period		-		-
Unrealized gains and (losses) recognized on equity securities still held	$	452	$	(815	)

As of March 31, 2021 and December 31, 2020, the carrying value of equity securities without readily determinable fair values was $2.0 million. The Company performed a qualitative assessment to determine whether the investments were impaired and identified no areas of concern as of March 31, 2021 and 2020. There were no impairments, downward or upward adjustments recognized for equity securities without readily determinable fair values during the three months ended March 31, 2021 and 2020.

The following table sets forth information with regard to contractual maturities of debt securities at March 31, 2021:

(In thousands)	Amortized Cost		Estimated Fair Value
AFS debt securities:
Within one year	$	1,710	$	1,724
From one to five years		22,127		22,984
From five to ten years		572,232		564,112
After ten years		784,283		798,208
Total AFS debt securities	$	1,380,352	$	1,387,028
HTM debt securities:
Within one year	$	18,116	$	18,155
From one to five years		57,331		58,621
From five to ten years		228,313		227,625
After ten years		289,239		295,775
Total HTM debt securities	$	592,999	$	600,176

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 March 31, 2021 and December 31, 2020.

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, 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 March 31, 2021
AFS securities:
Federal agency	$	238,885	$	(9,594	)		16	$	-	$	-			-	$	238,885	$	(9,594	)		16
State & municipal		45,370		(1,151	)		28		-		-			-		45,370		(1,151	)		28
Mortgage-backed		289,888		(5,549	)		21		787		(9	)		4		290,675		(5,558	)		25
Collateralized mortgage obligations		32,238		(934	)		11		-		-			-		32,238		(934	)		11
Corporate		7,455		(45	)		3		-		-			-		7,455		(45	)		3
Total securities with unrealized losses	$	613,836	$	(17,273	)		79	$	787	$	(9	)		4	$	614,623	$	(17,282	)		83

HTM securities:
Federal agency	$	94,159	$	(5,841	)		4	$	-	$	-			-	$	94,159	$	(5,841	)		4
Mortgage-backed		8,312		(108	)		1		-		-			-		8,312		(108	)		1
State & municipal		70,315		(2,367	)		56		-		-			-		70,315		(2,367	)		56
Total securities with unrealized losses	$	172,786	$	(8,316	)		61	$	-	$	-			-	$	172,786	$	(8,316	)		61

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

The Company does not believe the AFS securities that were in an unrealized loss position as of March 31, 2021 and December 31, 2020, which consisted of 83 and 23 individual securities, respectively, 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 March 31, 2021 and 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 $3.2 million at March 31, 2021 and $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 non-accrual status as of March 31, 2021 and December 31, 2020. There was no accrued interest reversed against interest income for the three months ended March 31, 2021 or 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 March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, 59% and 65%, respectively, of the Company’s HTM debt securities were 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 March 31, 2021 and December 31, 2020. The remaining HTM debt securities at March 31, 2021 and December 31, 2020 were comprised of state and municipal obligations with bond ratings of A to AAA. Utilizing the Current Expected Credit Losses (“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 March 31, 2021 and December 31, 2020. AIR on HTM debt securities totaled $2.7 million at March 31, 2021 and December 31, 2020 and is excluded from the estimate of credit losses and reported in the other assets financial statement line.

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net income	$ 39,846	$ 10,368
Adjustments to reconcile net income to net cash provided by operating activities
Provision for loan losses	(2,796)	29,640
Depreciation and amortization of premises and equipment	2,441	2,478
Net amortization on securities	1,477	722
Amortization of intangible assets	812	834
Amortization of operating lease right-of-use assets	1,821	1,829
Excess tax benefit on stock-based compensation	(107)	(189)
Stock-based compensation expense	2,668	2,675
Bank owned life insurance income	(1,381)	(1,374)
Amortization of subordinated debt issuance costs	110	0
Proceeds from sale of loans held for sale	13,877	50,946
Originations of loans held for sale	(13,943)	(46,956)
Net gain on sale of loans held for sale	(110)	(242)
Net security (gains) losses	(467)	812
Net losses on sale of other real estate owned	0	11
Net change in other assets and other liabilities	(1,946)	(10,627)
Net cash provided by operating activities	42,302	40,927
Securities available for sale:
Proceeds from maturities, calls and principal paydowns	95,274	83,394
Purchases	(158,196)	(88,209)
Securities held to maturity:
Proceeds from maturities, calls and principal paydowns	66,282	39,843
Purchases	(42,760)	(31,163)
Other:
Net increase in loans	(136,778)	(116,434)
Proceeds from Federal Home Loan Bank stock redemption	2,252	35,664
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock	(26)	(32,062)
Proceeds from settlement of bank owned life insurance	357	0
Purchases of premises and equipment, net	(901)	(3,348)
Proceeds from sales of other real estate owned	140	80
Net cash used in investing activities	(174,356)	(112,235)
Financing activities
Net increase in deposits	734,238	276,818
Net decrease in short-term borrowings	(73,048)	(106,371)
Repayments of long-term debt	(25,027)	(28)
Proceeds from the issuance of shares to employee and other stock plans	112	184
Cash paid by employer for tax-withholding on stock issuance	(1,125)	(1,166)
Purchase of treasury stock	(9,020)	(7,980)
Cash dividends	(11,732)	(23,632)
Net cash provided by financing activities	614,398	137,825
Net increase in cash and cash equivalents	482,344	66,517
Cash and cash equivalents at beginning of period	672,681	216,843
Cash and cash equivalents at end of period	1,155,025	283,360
Cash paid during the period for:
Interest expense	7,105	12,530
Income taxes paid, net of refund	2,540	1,960
Noncash investing activities:
Loans transferred to other real estate owned	$ 0	$ 1,017

Earnings Per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

7.	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).

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

	Three Months Ended March 31,
(In thousands, except per share data)	2021		2020
Basic EPS:
Weighted average common shares outstanding		43,559		43,835
Net income available to common stockholders	$	39,846	$	10,368
Basic EPS	$	0.91	$	0.24

Diluted EPS:
Weighted average common shares outstanding		43,559		43,835
Dilutive effect of common stock options and restricted stock		331		295
Weighted average common shares and common share equivalents		43,890		44,130
Net income available to common stockholders	$	39,846	$	10,368
Diluted EPS	$	0.91	$	0.23

There was a nominal number of stock options outstanding for the three months ended March 31, 2021 and March 31, 2020, 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.

Description of Business

3 Months Ended

Mar. 31, 2021

Description of Business [Abstract]

Description of Business

1.	Description of Business

NBT Bancorp Inc. (the “Company”) is a registered financial holding company incorporated in the state of Delaware in 1986, with its principal headquarters located in Norwich, New York. The principal assets of the Company consist of all of the outstanding shares of common stock of its subsidiaries, including: NBT Bank, National Association (the “Bank”), NBT Financial Services, Inc. (“NBT Financial”), NBT Holdings, Inc. (“NBT Holdings”), 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 principal sources of revenue are the management fees and dividends it receives from the Bank, NBT Financial and NBT Holdings.

The Company’s business, primarily conducted through the Bank, consists of providing commercial banking, retail banking and wealth management services primarily to customers in its market area, which includes central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont, the southern coastal Maine area and central Connecticut. The Company has been, and intends to continue to be, a community-oriented financial institution offering a variety of financial services. The Company’s business philosophy is to operate as a community bank with local decision-making, providing a broad array of banking and financial services to retail, commercial and municipal customers.

Securities, AFS Securities in Continuous Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2021 USD ($) Position	Dec. 31, 2020 USD ($) Position
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 613,836	$ 213,643
12 months or longer	787	800
Total	614,623	214,443
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(17,273)	(2,170)
12 months or longer	(9)	(9)
Total	$ (17,282)	$ (2,179)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	79	19
12 months or longer \| Position	4	4
Total \| Position	83	23
AIR on AFS debt securities	$ 3,200	$ 3,300
Federal Agency [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	238,885	148,537
12 months or longer	0	0
Total	238,885	148,537
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(9,594)	(2,052)
12 months or longer	0	0
Total	$ (9,594)	$ (2,052)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	16	10
12 months or longer \| Position	0	0
Total \| Position	16	10
State & Municipal [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 45,370
12 months or longer	0
Total	45,370
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(1,151)
12 months or longer	0
Total	$ (1,151)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	28
12 months or longer \| Position	0
Total \| Position	28
Mortgage-Backed [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 289,888	$ 47,269
12 months or longer	787	800
Total	290,675	48,069
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(5,549)	(60)
12 months or longer	(9)	(9)
Total	$ (5,558)	$ (69)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	21	3
12 months or longer \| Position	4	4
Total \| Position	25	7
Collateralized Mortgage Obligations [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 32,238	$ 17,837
12 months or longer	0	0
Total	32,238	17,837
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(934)	(58)
12 months or longer	0	0
Total	$ (934)	$ (58)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	11	6
12 months or longer \| Position	0	0
Total \| Position	11	6
Corporate [Member]
Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months	$ 7,455
12 months or longer	0
Total	7,455
Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	(45)
12 months or longer	0
Total	$ (45)
Unrealized Loss Position, Number of Positions [Abstract]
Less than 12 months \| Position	3
12 months or longer \| Position	0
Total \| Position	3

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Basic EPS [Abstract]
Weighted average common shares outstanding (in shares)	43,559	43,835
Net income available to common stockholders	$ 39,846	$ 10,368
Basic EPS (in dollars per share)	$ 0.91	$ 0.24
Diluted EPS [Abstract]
Weighted average common shares outstanding (in shares)	43,559	43,835
Dilutive effect of common stock options and restricted stock (in shares)	331	295
Weighted average common shares and common share equivalents (in shares)	43,890	44,130
Net income available to common stockholders	$ 39,846	$ 10,368
Diluted EPS (in dollars per share)	$ 0.91	$ 0.23

- Definition

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

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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Statements of Stockholders' Equity (unaudited) - 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, 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	10,368	0	0	10,368
Cash dividends	0	0	(23,632)	0	0	(23,632)
Purchase of treasury shares	0	0	0	0	(7,980)	(7,980)
Net issuance of shares to employee and other stock plans	0	(2,303)	0	0	759	(1,544)
Stock-based compensation	0	2,675	0	0	0	2,675
Other comprehensive income (loss)	0	0	0	16,234	0	16,234
Balance at Mar. 31, 2020	497	577,080	678,611	(2,792)	(141,217)	1,112,179
Balance at Dec. 31, 2020	497	578,082	749,056	417	(140,434)	1,187,618
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	39,846	0	0	39,846
Cash dividends	0	0	(11,732)	0	0	(11,732)
Purchase of treasury shares	0	0	0	0	(9,020)	(9,020)
Net issuance of shares to employee and other stock plans	0	(2,153)	0	0	870	(1,283)
Stock-based compensation	0	2,668	0	0	0	2,668
Other comprehensive income (loss)	0	0	0	(17,116)	0	(17,116)
Balance at Mar. 31, 2021	$ 497	$ 578,597	$ 777,170	$ (16,699)	$ (148,584)	$ 1,190,981

- Definition

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

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Securities (Tables)

3 Months Ended

Mar. 31, 2021

Securities [Abstract]

Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of 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 March 31, 2021
Federal agency	$	258,479	$	2	$	9,594	$	248,887
State & municipal		49,048		128		1,151		48,025
Mortgage-backed:
Government-sponsored enterprises		606,988		12,506		5,448		614,046
U.S. government agency securities		57,913		1,390		110		59,193
Collateralized mortgage obligations:
Government-sponsored enterprises		278,532		6,568		934		284,166
U.S. government agency securities		101,892		2,655		-		104,547
Corporate		27,500		709		45		28,164
Total AFS securities	$	1,380,352	$	23,958	$	17,282	$	1,387,028
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

Amortized Cost, Estimated Fair Value, and Unrealized Gains (Losses) of Securities HTM

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

(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
As of March 31, 2021
Federal agency	$	100,000	$	-	$	5,841	$	94,159
Mortgage-backed:
Government-sponsored enterprises		92,584		3,312		108		95,788
U.S. government agency securities		10,309		670		-		10,979
Collateralized mortgage obligations:
Government-sponsored enterprises		92,059		4,078		-		96,137
U.S. government agency securities		53,814		2,124		-		55,938
State & municipal		244,233		5,309		2,367		247,175
Total HTM securities	$	592,999	$	15,493	$	8,316	$	600,176
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

Gains and Losses on Equity Securities

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

	Three Months Ended March 31,
(In thousands)	2021		2020
Net gains and (losses) recognized on equity securities	$	452	$	(815	)
Less: Net gains and (losses) recognized on equity securities sold during the period		-		-
Unrealized gains and (losses) recognized on equity securities still held	$	452	$	(815	)

Contractual Maturities of Debt Securities

The following table sets forth information with regard to contractual maturities of debt securities at March 31, 2021:

(In thousands)	Amortized Cost		Estimated Fair Value
AFS debt securities:
Within one year	$	1,710	$	1,724
From one to five years		22,127		22,984
From five to ten years		572,232		564,112
After ten years		784,283		798,208
Total AFS debt securities	$	1,380,352	$	1,387,028
HTM debt securities:
Within one year	$	18,116	$	18,155
From one to five years		57,331		58,621
From five to ten years		228,313		227,625
After ten years		289,239		295,775
Total HTM debt securities	$	592,999	$	600,176

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 March 31, 2021
AFS securities:
Federal agency	$	238,885	$	(9,594	)		16	$	-	$	-			-	$	238,885	$	(9,594	)		16
State & municipal		45,370		(1,151	)		28		-		-			-		45,370		(1,151	)		28
Mortgage-backed		289,888		(5,549	)		21		787		(9	)		4		290,675		(5,558	)		25
Collateralized mortgage obligations		32,238		(934	)		11		-		-			-		32,238		(934	)		11
Corporate		7,455		(45	)		3		-		-			-		7,455		(45	)		3
Total securities with unrealized losses	$	613,836	$	(17,273	)		79	$	787	$	(9	)		4	$	614,623	$	(17,282	)		83

HTM securities:
Federal agency	$	94,159	$	(5,841	)		4	$	-	$	-			-	$	94,159	$	(5,841	)		4
Mortgage-backed		8,312		(108	)		1		-		-			-		8,312		(108	)		1
State & municipal		70,315		(2,367	)		56		-		-			-		70,315		(2,367	)		56
Total securities with unrealized losses	$	172,786	$	(8,316	)		61	$	-	$	-			-	$	172,786	$	(8,316	)		61

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

Allowance for Credit Losses and Credit Quality of Loans (Policies)	3 Months Ended
	Mar. 31, 2021
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, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments was $3.0 million which decreased retained earnings by $2.3 million and increased the deferred tax asset by $0.7 million. The increase in the allowance for credit losses from Day 1 to March 31, 2020 was primarily due to macroeconomic factors surrounding the coronavirus (“COVID-19”) pandemic. The March 31, 2021, December 31, 2020, March 31, 2020 and Day 1 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 reverts to long-term economic conditions over a 4-quarter reversion period on a straight-line basis. The Company considers a baseline, upside, and downside economic forecast in measuring in the allowance. The quantitative model as of March 31, 2021 incorporated a baseline economic outlook along with an alternative downside scenario 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 to below 5% by mid-2022. Northeast GDP’s annualized growth (on a quarterly basis) was expected to start 2021 in the low to mid-single digits, with a peak growth rate of 10% in the fourth quarter of 2021 and steadily falling back down to normalized levels through 2023. Other utilized economic variables also showed improvement in their respective forecasts. Key assumptions in the baseline economic outlook included herd immunity expected by summer 2021, additional legislation focused on infrastructure and social benefits enacted in the second half of 2021 and GDP growth expectations at levels not seen since the 1980s. The alternative downside scenario assumed deteriorated economic and epidemiological conditions from the baseline outlook, leading to a double-dip recession. The alternative upside scenario was not incorporated by management because of the underlying assumptions, forecasted economic data and modeled default rates. These scenarios and their respective weightings are evaluated at each measurement date and reflect management’s expectations as of March 31, 2021. Additional adjustments were made for COVID-19 related factors not incorporated in the forecasts, such as the mitigating impact of unprecedented stimulus in 2020 and 2021, including direct payments to individuals, increased unemployment benefits, the Company’s loan deferral and modification initiatives and various government-sponsored loan programs. Additionally, the Company identified a slightly higher level of criticized and classified loans at in the first quarter of 2021 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 March 31, 2021. 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. There were no loans purchased with credit deterioration during the three months ended March 31, 2021 or 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 $22.6 million at March 31, 2021 and $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 March 31, 2021 was $0.5 million and $0.6 million at December 31, 2020. The decrease in the allowance for credit losses from December 31, 2020 to March 31, 2021 was primarily due to an improvement in the economic forecast. The increase in the allowance for credit losses from Day 1 to March 31, 2020 was primarily due to macroeconomic factors surrounding the COVID-19 pandemic. Individually Evaluated Loans As of March 31, 2021, there were five relationships identified to be evaluated for loss on an individual basis which had an amortized cost basis of $15.8 million. These loans’ allowance for credit loss was $3.9 million and was determined by an estimate of the fair value of the collateral which consisted of business assets (accounts receivable, inventory and machinery and equipment). As of December 31, 2020, the same five relationships were identified to be evaluated for loss on an individual basis which had an amortized cost basis of $15.2 million and the allowance for credit loss was $3.2 million. As of Day 1, there were no relationships identified to be evaluated for loss on an individual basis. 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 Commercial and Industrial (“C&I”), Paycheck Protection Program (“PPP”) and Commercial Real Estate (“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. 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 March 31, 2021, the allowance for losses on unfunded commitments totaled $5.9 million, compared to $6.4 million as of December 31, 2020
Troubled Debt Restructuring	Troubled Debt Restructuring When the Company modifies a loan in a troubled debt restructuring (“TDR”), 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 2021 and 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 Coronavirus Aid, Relief and Economic Security Act (“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.

- Definition

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).

+ References + Details

Allowance for Credit Losses and Credit Quality of Loans, Past Due Loans (Details) $ in Thousands	Mar. 31, 2021 USD ($) Relationship	Dec. 31, 2020 USD ($) Relationship
Allowance for Credit Losses and Credit Quality of Loans [Abstract]
Individually evaluated loans, number of relationships \| Relationship	5	5
Individually evaluated loans, amortized cost	$ 15,800	$ 15,200
Individually evaluated loans, allowance for credit losses	3,900	3,200
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	16,551	27,806
Nonaccrual	43,399	44,647
Current	7,573,509	7,426,432
Recorded total loans	7,633,459	7,498,885
Loans in non-accrual without an allowance for credit losses	0	0
31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	10,687	18,472
61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	3,709	6,185
Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	2,155	3,149
Commercial Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	3,126	5,804
Nonaccrual	24,506	24,249
Current	4,112,816	3,938,658
Recorded total loans	4,140,448	3,968,711
Commercial Loans [Member] \| 31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	2,359	2,917
Commercial Loans [Member] \| 61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	693	2,394
Commercial Loans [Member] \| Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	74	493
Commercial Loans [Member] \| C&I [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	2,387	4,652
Nonaccrual	4,994	4,278
Current	1,145,359	1,116,686
Recorded total loans	1,152,740	1,125,616
Commercial Loans [Member] \| C&I [Member] \| 31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	1,985	2,235
Commercial Loans [Member] \| C&I [Member] \| 61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	402	2,394
Commercial Loans [Member] \| C&I [Member] \| Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	0	23
Commercial Loans [Member] \| CRE [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	739	1,152
Nonaccrual	19,512	19,971
Current	2,430,963	2,391,162
Recorded total loans	2,451,214	2,412,285
Commercial Loans [Member] \| CRE [Member] \| 31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	374	682
Commercial Loans [Member] \| CRE [Member] \| 61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	291	0
Commercial Loans [Member] \| CRE [Member] \| Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	74	470
Commercial Loans [Member] \| PPP [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	0	0
Nonaccrual	0	0
Current	536,494	430,810
Recorded total loans	536,494	430,810
Commercial Loans [Member] \| PPP [Member] \| 31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	0	0
Commercial Loans [Member] \| PPP [Member] \| 61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	0	0
Commercial Loans [Member] \| PPP [Member] \| Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	0	0
Consumer Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	11,521	18,456
Nonaccrual	2,075	3,020
Current	1,498,719	1,518,783
Recorded total loans	1,512,315	1,540,259
Consumer Loans [Member] \| 31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	7,232	12,836
Consumer Loans [Member] \| 61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	2,677	3,482
Consumer Loans [Member] \| Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	1,612	2,138
Consumer Loans [Member] \| Auto [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	5,715	11,544
Nonaccrual	1,789	2,730
Current	865,474	877,831
Recorded total loans	872,978	892,105
Consumer Loans [Member] \| Auto [Member] \| 31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	4,365	9,125
Consumer Loans [Member] \| Auto [Member] \| 61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	847	1,553
Consumer Loans [Member] \| Auto [Member] \| Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	503	866
Consumer Loans [Member] \| Other Consumer [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	5,806	6,912
Nonaccrual	286	290
Current	633,245	640,952
Recorded total loans	639,337	648,154
Consumer Loans [Member] \| Other Consumer [Member] \| 31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	2,867	3,711
Consumer Loans [Member] \| Other Consumer [Member] \| 61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	1,830	1,929
Consumer Loans [Member] \| Other Consumer [Member] \| Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	1,109	1,272
Residential [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	1,904	3,546
Nonaccrual	16,818	17,378
Current	1,961,974	1,968,991
Recorded total loans	1,980,696	1,989,915
Residential [Member] \| 31-60 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	1,096	2,719
Residential [Member] \| 61-90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	339	309
Residential [Member] \| Greater Than 90 Days Past Due Accruing [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due accruing	$ 469	$ 518

Allowance for Credit Losses and Credit Quality of Loans, Credit Quality Indicators (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
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]
2021/2020	$ 697,245	$ 1,927,429
2020/2019	1,722,430	1,312,819
2019/2018	1,237,919	949,810
2018/2017	874,540	750,728
2017/2016	681,635	515,688
Prior	1,646,957	1,262,066
Revolving Loans Amortized Cost Basis	746,562	749,657
Revolving Loans Converted to Term	26,171	30,688
Total	7,633,459	7,498,885
C&I [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	113,286	352,323
2020/2019	321,528	195,227
2019/2018	171,349	106,502
2018/2017	95,289	50,153
2017/2016	41,852	35,040
Prior	63,953	39,712
Revolving Loans Amortized Cost Basis	334,807	346,233
Revolving Loans Converted to Term	10,676	426
Total	1,152,740	1,125,616
C&I [Member] \| Pass [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	113,273	331,921
2020/2019	305,135	182,329
2019/2018	157,578	91,230
2018/2017	82,451	41,856
2017/2016	34,635	32,625
Prior	55,540	32,609
Revolving Loans Amortized Cost Basis	310,850	322,674
Revolving Loans Converted to Term	10,149	412
Total	1,069,611	1,035,656
C&I [Member] \| Special Mention [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	13	20,064
2020/2019	15,988	6,534
2019/2018	6,099	5,053
2018/2017	4,576	4,702
2017/2016	4,149	1,624
Prior	4,001	2,830
Revolving Loans Amortized Cost Basis	17,420	13,614
Revolving Loans Converted to Term	0	0
Total	52,246	54,421
C&I [Member] \| Substandard [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	0	338
2020/2019	405	6,364
2019/2018	7,672	10,219
2018/2017	8,262	3,388
2017/2016	2,865	791
Prior	4,411	4,272
Revolving Loans Amortized Cost Basis	6,537	9,945
Revolving Loans Converted to Term	527	14
Total	30,679	35,331
C&I [Member] \| Doubtful [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	0	0
2020/2019	0	0
2019/2018	0	0
2018/2017	0	207
2017/2016	203	0
Prior	1	1
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	204	208
CRE [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	132,195	472,506
2020/2019	456,029	412,425
2019/2018	419,889	296,712
2018/2017	285,729	342,604
2017/2016	321,513	255,045
Prior	696,059	496,867
Revolving Loans Amortized Cost Basis	136,940	115,926
Revolving Loans Converted to Term	2,860	20,200
Total	2,451,214	2,412,285
CRE [Member] \| Pass [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	132,195	469,919
2020/2019	452,951	361,187
2019/2018	356,643	256,154
2018/2017	260,570	271,874
2017/2016	253,673	212,197
Prior	535,309	383,690
Revolving Loans Amortized Cost Basis	134,394	113,128
Revolving Loans Converted to Term	2,860	4,034
Total	2,128,595	2,072,183
CRE [Member] \| Special Mention [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	0	2,051
2020/2019	2,544	44,034
2019/2018	41,189	22,260
2018/2017	7,508	55,039
2017/2016	54,121	36,830
Prior	88,045	43,537
Revolving Loans Amortized Cost Basis	1,293	1,297
Revolving Loans Converted to Term	0	11,524
Total	194,700	216,572
CRE [Member] \| Substandard [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	0	536
2020/2019	534	5,307
2019/2018	20,160	18,298
2018/2017	17,651	15,691
2017/2016	13,719	6,018
Prior	65,288	62,168
Revolving Loans Amortized Cost Basis	1,253	1,501
Revolving Loans Converted to Term	0	4,642
Total	118,605	114,161
CRE [Member] \| Doubtful [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	0	0
2020/2019	0	1,897
2019/2018	1,897	0
2018/2017	0	0
2017/2016	0	0
Prior	7,417	7,472
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	9,314	9,369
PPP [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	218,938	430,810
2020/2019	317,556	0
2019/2018	0	0
2018/2017	0	0
2017/2016	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	536,494	430,810
PPP [Member] \| Pass [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	218,938	430,810
2020/2019	317,556	0
2019/2018	0	0
2018/2017	0	0
2017/2016	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	536,494	430,810
Auto [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	98,676	198,240
2020/2019	183,418	315,174
2019/2018	280,673	202,985
2018/2017	173,991	116,502
2017/2016	94,748	45,932
Prior	41,451	13,250
Revolving Loans Amortized Cost Basis	21	22
Revolving Loans Converted to Term	0	0
Total	872,978	892,105
Auto [Member] \| Performing [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	98,666	197,881
2020/2019	183,147	314,034
2019/2018	280,077	201,850
2018/2017	173,240	115,977
2017/2016	94,084	45,495
Prior	41,451	13,250
Revolving Loans Amortized Cost Basis	21	22
Revolving Loans Converted to Term	0	0
Total	870,686	888,509
Auto [Member] \| Nonperforming [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	10	359
2020/2019	271	1,140
2019/2018	596	1,135
2018/2017	751	525
2017/2016	664	437
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	2,292	3,596
Other Consumer [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	67,050	234,967
2020/2019	209,157	178,829
2019/2018	160,363	127,856
2018/2017	112,978	55,941
2017/2016	48,159	14,345
Prior	26,656	17,547
Revolving Loans Amortized Cost Basis	14,933	18,598
Revolving Loans Converted to Term	41	71
Total	639,337	648,154
Other Consumer [Member] \| Performing [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	67,050	234,628
2020/2019	208,960	178,411
2019/2018	159,896	127,549
2018/2017	112,634	55,676
2017/2016	47,920	14,255
Prior	26,535	17,414
Revolving Loans Amortized Cost Basis	14,923	18,588
Revolving Loans Converted to Term	24	71
Total	637,942	646,592
Other Consumer [Member] \| Nonperforming [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	0	339
2020/2019	197	418
2019/2018	467	307
2018/2017	344	265
2017/2016	239	90
Prior	121	133
Revolving Loans Amortized Cost Basis	10	10
Revolving Loans Converted to Term	17	0
Total	1,395	1,562
Residential [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	67,100	238,583
2020/2019	234,742	211,164
2019/2018	205,645	215,755
2018/2017	206,553	185,528
2017/2016	175,363	165,326
Prior	818,838	694,690
Revolving Loans Amortized Cost Basis	259,861	268,878
Revolving Loans Converted to Term	12,594	9,991
Total	1,980,696	1,989,915
Residential [Member] \| Performing [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	67,100	237,338
2020/2019	233,363	210,505
2019/2018	204,995	213,437
2018/2017	204,255	182,993
2017/2016	173,135	164,424
Prior	808,168	684,495
Revolving Loans Amortized Cost Basis	259,861	268,878
Revolving Loans Converted to Term	12,532	9,991
Total	1,963,409	1,972,061
Residential [Member] \| Nonperforming [Member]
Credit Quality by Loan Class [Abstract]
2021/2020	0	1,245
2020/2019	1,379	659
2019/2018	650	2,318
2018/2017	2,298	2,535
2017/2016	2,228	902
Prior	10,670	10,195
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	62	0
Total	$ 17,287	$ 17,854

Fair Value Measurements and Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2021

Fair Value Measurements and Fair Value of Financial Instruments [Abstract]

Fair Value Measurements and Fair Value of Financial Instruments

10.	Fair Value Measurements and Fair Value of Financial Instruments

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; and

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 nontransferability 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.

(In thousands)	Level 1		Level 2		Level 3		March 31, 2021
Assets:
AFS securities:
Federal agency	$	-	$	248,887	$	-	$	248,887
State & municipal		-		48,025		-		48,025
Mortgage-backed		-		673,239		-		673,239
Collateralized mortgage obligations		-		388,713		-		388,713
Corporate		-		28,164		-		28,164
Total AFS securities	$	-	$	1,387,028	$	-	$	1,387,028
Equity securities		30,247		2,000		-		32,247
Derivatives		-		70,713		-		70,713
Total	$	30,247	$	1,459,741	$	-	$	1,489,988

Liabilities:
Derivatives	$	-	$	70,661	$	-	$	70,661
Total	$	-	$	70,661	$	-	$	70,661

(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

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 three month period ended March 31, 2021 and the year ended December 31, 2020 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 March 31, 2021, the Company had collateral dependent individually evaluated loans with a carrying value of $15.8 million, which had an estimated allowance for credit loss of $3.9 million. 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.

		March 31, 2021				December 31, 2020
(In thousands)	Fair Value Hierarchy	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
HTM securities	2	$	592,999	$	600,176	$	616,560	$	636,827
Net loans	3		7,634,754		7,677,033		7,390,004		7,530,033
Financial liabilities:
Time deposits	2	$	604,373	$	606,134	$	633,479	$	638,721
Long-term debt	2		14,069		14,651		39,097		39,820
Subordinated debt	1		100,000		105,024		100,000		103,277
Junior subordinated debt	2		101,196		108,841		101,196		108,926

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.

- Definition

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.

+ References + Details

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

3 Months Ended

Mar. 31, 2021

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)
	Three Months Ended
(In thousands)	March 31, 2021			March 31, 2020
AFS securities:
Gains on AFS securities	$	-		$	(3	)	Net securities (gains) losses
Amortization of unrealized gains related to securities transfer		142			173		Interest income
Tax effect	$	(35	)	$	(42	)	Income tax (benefit)
Net of tax	$	107		$	128

Cash flow hedges:
Net unrealized losses on cash flow hedges reclassified to interest expense	$	21		$	10		Interest expense
Tax effect	$	(5	)	$	(3	)	Income tax (benefit)
Net of tax	$	16		$	7

Pension and other benefits:
Amortization of net losses	$	298		$	358		Other noninterest expense
Amortization of prior service costs		28			23		Other noninterest expense
Tax effect	$	(81	)	$	(95	)	Income tax (benefit)
Net of tax	$	245		$	286

Total reclassifications, net of tax	$	368		$	421

Securities, Held to Maturity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	$ 592,999		$ 616,560
Unrealized gains	15,493		21,942
Unrealized losses	8,316		1,675
Estimated fair value	600,176		636,827
Allowance for credit losses on HTM securities	0		0
Gains from calls on HTM securities	15	$ 0
Amortized costs of securities available for sale and held to maturity pledged	1,600,000		1,400,000
Amortized costs of securities AFS and HTM pledged as collateral for repurchase agreements	273,200		305,200
Federal Agency [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	100,000		100,000
Unrealized gains	0		0
Unrealized losses	5,841		1,658
Estimated fair value	94,159		98,342
Mortgage-Backed, Government Sponsored Enterprises [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	92,584		107,914
Unrealized gains	3,312		4,583
Unrealized losses	108		0
Estimated fair value	95,788		112,497
Mortgage-Backed, U.S. Government Agency Securities [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	10,309		11,533
Unrealized gains	670		979
Unrealized losses	0		0
Estimated fair value	10,979		12,512
Collateralized Mortgage Obligations, Government-Sponsored Enterprises [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	92,059		103,105
Unrealized gains	4,078		4,477
Unrealized losses	0		0
Estimated fair value	96,137		107,582
Collateralized Mortgage Obligations, U.S. Government Agency Securities [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	53,814		79,145
Unrealized gains	2,124		3,950
Unrealized losses	0		0
Estimated fair value	55,938		83,095
State & Municipal [Member]
Held-to-maturity securities, fair value to amortized cost [Abstract]
Amortized cost	244,233		214,863
Unrealized gains	5,309		7,953
Unrealized losses	2,367		17
Estimated fair value	$ 247,175		$ 222,799