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Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2026

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 March 31, 2026 and December 31, 2025. There were no transfers among levels during the first three months ended March 31, 2026 or the year ended December 31, 2025.


	Fair Value March 31, 2026		Fair value measurements at report date using
			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	$	29,457	$	-	$	29,457	$	-
Available for sale investment securities:
U.S. government obligations and government-sponsored enterprises	6,720,940		1,097,308		5,623,633		-
Obligations of states and political subdivisions	15,892		-		15,892		-
Other securities	4,740		610		4,129		-
Equity investments	48,174		-		36,661		11,513

Derivatives	7,732		-		7,732		-
Total assets	$	6,826,934	$	1,097,918	$	5,717,503	$	11,513

Liabilities:
Derivatives	$	6,168	$	-	$	6,168	$	-
Total liabilities	$	6,168	$	-	$	6,168	$	-


			Fair value measurements at report date using
	Fair Value December 31, 2025		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, Nonrecurring

The following table provides the assets measured at fair value on a nonrecurring basis during the first three months of 2026 and 2025, and still held as of March 31, 2026 and 2025.


			Fair value measurements at report date using
	Fair Value March 31, 2026		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	$	24,996	$	-	$	-	$	24,996
Mortgage servicing rights	61,916		-		-		61,916
Total assets	$	86,912	$	-	$	-	$	86,912


			Fair value measurements at report date using
	Fair Value March 31, 2025		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	$	23,868	$	-	$	-	$	23,868
Mortgage servicing rights	62,757		-		-		62,757
Total assets	$	86,625	$	-	$	-	$	86,625

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

The estimated fair values of the Company's financial assets and the classification of their fair value measurement within the valuation hierarchy are as follows at March 31, 2026 and December 31, 2025:


	March 31, 2026
	Carrying amount		Estimated Fair Value
			Level 1		Level 2		Level 3
	(dollars in thousands)
Financial Assets:
Cash and due from banks	$	190,868	$	190,868	$	-	$	-
Short-term interest-bearing deposits	1,185,077		1,185,077		-		-
Interest-bearing deposits	750		750		-		-
Federal funds sold and securities purchased under agreements to resell	1,433		1,433		-		-
Investment securities
Available for sale	6,741,573		1,097,918		5,643,654		-
Held to maturity	1,528		-		862		677
Equity	48,174		-		36,661		11,513
Net loans held for investment	11,382,681		-		-		11,364,316
Loans held for sale	29,457		-		29,457		-
Derivatives	7,732		-		7,732		-
Total assets	$	19,589,273	$	2,476,045	$	5,718,366	$	11,376,506


	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		-		-
Interest-bearing 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

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	$	5,542,960	$	11,298,574

The estimated fair values of the Company's financial liabilities and the classification of their fair value measurement within the valuation hierarchy are as follows at March 31, 2026 and December 31, 2025:


	March 31, 2026
	Carrying amount		Estimated Fair Value
			Level 1		Level 2		Level 3
	(dollars in thousands)
Financial Liabilities
Federal funds purchased and customer repurchase agreements	$	1,066,923	$	1,066,923	$	-	$	-
Accrued interest payable	8,279		8,279		-		-
Derivatives	6,284		-		6,284		-


	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		-