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Fair Value (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value  
Schedule of financial assets and liabilities measured on a recurring basis

Fair Value Measurements Using

 

    

    

    

Significant

    

 

Quoted Prices in

Other

Significant

 

Active Markets for

Observable

Unobservable

 

Identical Assets

Inputs

Inputs

 

Balance

(Level 1)

(Level 2)

(Level 3)

 

(Dollars in thousands)

 

Assets at June 30, 2022

Available-for-sale securities:

U.S. Treasury

$

250,126

$

250,126

$

$

Agency mortgage-backed securities

82,003

82,003

I/O strip receivables

173

173

Assets at December 31, 2021

Available-for-sale securities:

Agency mortgage-backed securities

$

102,252

$

$

102,252

$

I/O strip receivables

221

221

Schedule of carrying amounts and estimated fair values of financial instruments

Estimated Fair Value

    

    

    

Significant

    

    

Quoted Prices in

Other

Significant

Active Markets for

Observable

Unobservable

Carrying

Identical Assets

Inputs

Inputs

Amounts

(Level 1)

(Level 2)

(Level 3)

Total

(Dollars in thousands)

Assets:

Cash and cash equivalents

$

876,585

$

876,585

$

$

$

876,585

Securities available-for-sale

 

332,129

 

250,126

 

82,003

 

 

332,129

Securities held-to-maturity

 

723,716

 

 

650,829

 

 

650,829

Loans (including loans held-for-sale), net

 

3,039,243

 

 

2,281

 

2,945,005

 

2,947,286

FHLB stock, FRB stock, and other

investments

 

32,513

 

 

 

 

N/A

Accrued interest receivable

 

11,679

 

587

1,724

9,368

 

11,679

I/O strips receivables

 

173

 

 

173

 

 

173

Liabilities:

Time deposits

$

139,625

$

$

139,912

$

$

139,912

Other deposits

 

4,474,019

 

 

4,474,019

 

 

4,474,019

Subordinated debt

39,274

38,424

38,424

Accrued interest payable

 

423

 

 

423

 

 

423

 Estimated Fair Value

    

    

    

Significant

    

    

Quoted Prices in

Other

Significant

Active Markets for

Observable

Unobservable

Carrying

Identical Assets

Inputs

Inputs

Amounts

(Level 1)

(Level 2)

(Level 3)

Total

(Dollars in thousands)

Assets:

Cash and cash equivalents

$

1,306,216

$

1,306,216

$

$

$

1,306,216

Securities available-for-sale

 

102,252

 

 

102,252

 

 

102,252

Securities held-to-maturity

 

658,397

 

 

657,649

 

 

657,649

Loans (including loans held-for-sale), net

 

3,046,403

 

 

2,367

 

3,061,558

 

3,063,925

FHLB stock, FRB stock, and other

investments

 

32,504

 

 

 

 

N/A

Accrued interest receivable

 

10,781

 

1,719

9,062

 

10,781

I/O strips receivables

 

221

 

 

221

 

 

221

Liabilities:

Time deposits

$

139,834

$

$

140,086

$

$

140,086

Other deposits

 

4,619,578

 

 

4,619,578

 

 

4,619,578

Subordinated debt

39,925

40,425

40,425

Accrued interest payable

 

477

 

 

477

 

 

477