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Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents assets and liabilities measured at fair value on a recurring basis (including items that are required to be measured at fair value) at December 31, 2025 and 2024.


	Fair value measurements at December 31, 2025 using
	Total fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(dollars in thousands)
Assets:
Loans held for sale	$	54,119	$	-	$	54,119	$	-
Available-for-sale investment securities:
U.S. government obligations and government-sponsored enterprises	6,349,320		928,287		5,421,033		-
Obligations of states and political subdivisions	16,644		-		16,644		-
Other securities	6,499		1,018		5,481		-
Equity investments	48,200		-		36,690		11,510

Derivatives	7,969		-		7,969		-
Total assets	$	6,482,752	$	929,305	$	5,541,937	$	11,510
Liabilities:
Derivatives	$	7,021	$	-	$	7,021	$	-
Total liabilities	$	7,021	$	-	$	7,021	$	-


	Fair value measurements at December 31, 2024 using
	Total fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(dollars in thousands)
Assets:
Loans held for sale	$	34,264	$	-	$	34,264	$	-
Available-for-sale investment securities:
U.S. government obligations and government-sponsored enterprises	5,553,593		1,269,553		4,284,040		-
Obligations of states and political subdivisions	21,141		-		21,141		-
Other securities	28,989		614		28,375		-
Equity investments	48,770		724		36,765		11,281
Trading	666		-		666		-
Derivatives	10,312		-		10,312		-
Total assets	$	5,697,735	$	1,270,891	$	4,415,563	$	11,281
Liabilities:
Derivatives	$	8,842	$	-	$	8,842	$	-
Total liabilities	$	8,842	$	-	$	8,842	$	-

Fair Value Measurements, Nonrecurring

The following table presents assets measured at fair value on a nonrecurring basis (including items that are required to be measured at fair value) at December 31, 2025 and 2024.


	Fair value measurements at December 31, 2025 using
	Total fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(dollars in thousands)
Assets:
Collateral dependent loans	$	20,628	$	-	$	-	$	20,628
Mortgage servicing rights	59,997		-		-		59,997
Total assets	$	80,625	$	-	$	-	$	80,625


	Fair value measurements at December 31, 2024 using
	Total fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(dollars in thousands)
Assets:
Collateral dependent loans	$	15,376	$	-	$	-	$	15,376
Mortgage servicing rights	60,339		-		-		60,339
Total assets	$	75,715	$	-	$	-	$	75,715

Schedule of Estimated Fair Values of the Company’s Financial Instruments

The estimated fair values of the Company’s financial instruments are as follows:


	December 31, 2025
	Carrying amount		Estimated fair value
			Level 1		Level 2		Level 3
	(dollars in thousands)
Financial Assets
Cash and due from banks	$	258,588	$	258,588	$	-	$	-
Short-term interest-bearing deposits	1,805,215		1,805,215		-		-
Time deposits	1,039		-		-		1,039
Federal funds sold and securities purchased under agreements to resell	340		340		-		-
Investment securities
Available for sale	6,372,463		929,305		5,443,158		-
Held to maturity	1,689		-		1,023		677
Equity	48,200		-		36,690		11,510
Trading	-		-		-		-
Net loans held for investment	11,284,931		-		-		11,285,348
Loans held for sale	54,119		-		54,119		-
Derivatives	7,969		-		7,969		-
Total assets	$	19,834,553	$	2,993,448	$	5,542,959	$	11,298,574


	December 31, 2024
	Carrying amount		Estimated fair value
			Level 1		Level 2		Level 3
	(dollars in thousands)
Financial Assets
Cash and due from banks	$	265,209	$	265,209	$	-	$	-
Short-term interest-bearing deposits	969,416		969,416		-		-
Time deposits	699		-		-		699
Federal funds sold and securities purchased under agreements to resell	7,183		7,183		-		-
Investment securities
Available for sale	5,603,723		1,270,167		4,333,556		-
Held to maturity	3,225		-		2,554		677
Equity	48,770		724		36,765		11,281
Trading	666		-		666		-
Net loans held for investment	11,469,812		-		-		11,283,393
Loans held for sale	34,264		-		34,264		-
Derivatives	10,312		-		10,312		-
Total assets	$	18,413,279	$	2,512,699	$	4,418,117	$	11,296,050


	December 31, 2025
	Carrying amount		Estimated fair value
			Level 1		Level 2		Level 3
	(dollars in thousands)
Financial Liabilities




Federal funds purchased and customer repurchase agreements	$	1,011,851	$	1,011,851	$	-	$	-
Accrued interest payable	9,306		9,306		-		-
Derivatives	7,021		-		7,021		-


	December 31, 2024
	Carrying amount		Estimated fair value
			Level 1		Level 2		Level 3
	(dollars in thousands)
Financial Liabilities




Federal funds purchased and customer repurchase agreements	$	1,007,295	$	1,007,295	$	-	$	-
Accrued interest payable	10,291		10,291		-		-
Derivatives	8,842		-		8,842		-