Fair Value Of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value, by Balance Sheet Grouping [Table Text Block]

The estimated fair values of the Company’s financial instruments and the classification of their fair value measurement within the valuation hierarchy are as follows at December 31, 2023 and 2022:


	Carrying Amount		Estimated Fair Value at December 31, 2023
(In thousands)			Level 1		Level 2		Level 3		Total
Financial Assets
Loans:
Business	$	6,019,036	$	—	$	—	$	5,873,549	$	5,873,549
Real estate - construction and land	1,446,764		—		—		1,420,522		1,420,522
Real estate - business	3,719,306		—		—		3,594,834		3,594,834
Real estate - personal	3,026,041		—		—		2,568,026		2,568,026
Consumer	2,077,723		—		—		2,016,334		2,016,334
Revolving home equity	319,894		—		—		317,013		317,013
Consumer credit card	589,913		—		—		550,464		550,464
Overdrafts	6,802		—		—		6,649		6,649
Total loans	17,205,479		—		—		16,347,391		16,347,391
Loans held for sale	4,177		—		4,177		—		4,177




Investment securities	9,941,786		822,237		8,896,129		223,420		9,941,786
Federal funds sold	5,025		5,025		—		—		5,025
Securities purchased under agreements to resell	450,000		—		—		444,448		444,448
Interest earning deposits with banks	2,239,010		2,239,010		—		—		2,239,010
Cash and due from banks	443,147		443,147		—		—		443,147
Derivative instruments	116,876		—		116,710		166		116,876
Assets held in trust for deferred compensation plan	20,538		20,538		—		—		20,538
Total	$	30,426,038	$	3,529,957	$	9,017,016	$	17,015,425	$	29,562,398
Financial Liabilities
Non-interest bearing deposits	$	7,975,935	$	7,975,935	$	—	$	—	$	7,975,935
Savings, interest checking and money market deposits	14,512,273		14,512,273		—		—		14,512,273
Certificates of deposit	2,875,690		—		—		2,916,627		2,916,627
Federal funds purchased	261,305		261,305		—		—		261,305
Securities sold under agreements to repurchase	2,647,510		—		—		2,650,951		2,650,951
Other borrowings	1,366		—		1,366		—		1,366
Derivative instruments	37,899		—		37,704		195		37,899
Liabilities held in trust for deferred compensation plan	20,538		20,538		—		—		20,538
Total	$	28,332,516	$	22,770,051	$	39,070	$	5,567,773	$	28,376,894


	Carrying Amount		Estimated Fair Value at December 31, 2022
(In thousands)			Level 1		Level 2		Level 3		Total
Financial Assets
Loans:
Business	$	5,661,725	$	—	$	—	$	5,506,128	$	5,506,128
Real estate - construction and land	1,361,095		—		—		1,347,328		1,347,328
Real estate - business	3,406,981		—		—		3,289,655		3,289,655
Real estate - personal	2,918,078		—		—		2,654,423		2,654,423
Consumer	2,059,088		—		—		1,999,788		1,999,788
Revolving home equity	297,207		—		—		295,005		295,005
Consumer credit card	584,000		—		—		538,268		538,268
Overdrafts	14,957		—		—		14,666		14,666
Total loans	16,303,131		—		—		15,645,261		15,645,261
Loans held for sale	4,964		—		4,964		—		4,964




Investment securities	12,511,649		1,041,616		11,244,592		225,441		12,511,649
Federal funds sold	49,505		49,505		—		—		49,505
Securities purchased under agreements to resell	825,000		—		—		795,574		795,574
Interest earning deposits with banks	389,140		389,140		—		—		389,140
Cash and due from banks	452,496		452,496		—		—		452,496
Derivative instruments	60,492		—		60,458		34		60,492
Assets held in trust for deferred compensation plan	17,856		17,856		—		—		17,856
Total	$	30,614,233	$	1,950,613	$	11,310,014	$	16,666,310	$	29,926,937
Financial Liabilities
Non-interest bearing deposits	$	10,066,356	$	10,066,356	$	—	$	—	$	10,066,356
Savings, interest checking and money market deposits	15,126,981		15,126,981		—		—		15,126,981
Certificates of deposit	994,103		—		—		982,613		982,613
Federal funds purchased	159,860		159,860		—		—		159,860
Securities sold under agreements to repurchase	2,681,874		—		—		2,684,471		2,684,471
Other borrowings	8,831		—		8,831		—		8,831
Derivative instruments	54,984		—		54,865		119		54,984
Liabilities held in trust for deferred compensation plan	17,856		17,856		—		—		17,856
Total	$	29,110,845	$	25,371,053	$	63,696	$	3,667,203	$	29,101,952