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FAIR VALUE MEASURES (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Loans Held For Sale Fair Value
The Company's loans held for sale under the fair value option are comprised of the following:
(dollars in thousands)September 30, 2020December 31, 2019
Mortgage loans held for sale$1,348,193 $1,647,900 
SBA loans held for sale19,851 8,811 
Total loans held for sale$1,368,044 $1,656,711 
Difference Between Fair Value and Principal Balance for Mortgage Loans Held for Sale Measured at Fair Value
The following table summarizes the difference between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of September 30, 2020 and December 31, 2019:
(dollars in thousands) 
September 30, 2020December 31, 2019
Aggregate fair value of mortgage loans held for sale$1,348,193 $1,647,900 
Aggregate unpaid principal balance of mortgage loans held for sale1,280,559 1,598,057 
Past-due loans of 90 days or more— 1,649 
Nonaccrual loans— 1,649 
Unpaid principal balance of nonaccrual loans— 1,616 
 
The following table summarizes the difference between the fair value and the principal balance for SBA loans held for sale measured at fair value as of September 30, 2020 and December 31, 2019:
(dollars in thousands) 
September 30, 2020December 31, 2019
Aggregate fair value of SBA loans held for sale$19,851 $8,811 
Aggregate unpaid principal balance of SBA loans held for sale17,867 8,206 
Past-due loans of 90 days or more— — 
Nonaccrual loans— — 
Fair Value Measurements of Assets and Liabilities Measured on Recurring Basis
The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of September 30, 2020 and December 31, 2019:
Recurring Basis
Fair Value Measurements
 September 30, 2020
(dollars in thousands) 
Fair ValueLevel 1Level 2Level 3
Financial assets:    
U.S. government sponsored agencies$17,604 $— $17,604 $— 
State, county and municipal securities87,648 — 87,648 — 
Corporate debt securities52,141 — 50,956 1,185 
SBA pool securities65,116 — 65,116 — 
Mortgage-backed securities894,927 — 894,927 — 
Loans held for sale1,368,044 — 1,368,044 — 
Mortgage banking derivative instruments64,694 — 64,694 — 
Total recurring assets at fair value$2,550,174 $— $2,548,989 $1,185 
Financial liabilities:    
Mortgage banking derivative instruments$6,177 $— $6,177 $— 
Total recurring liabilities at fair value$6,177 $— $6,177 $— 

Recurring Basis
Fair Value Measurements
 December 31, 2019
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
Financial assets:    
U.S. government sponsored agencies$22,362 $— $22,362 $— 
State, county and municipal securities105,260 — 105,260 — 
Corporate debt securities52,999 — 51,499 1,500 
SBA pool securities73,912 — 73,912 — 
Mortgage-backed securities1,148,870 — 1,148,870 — 
Loans held for sale1,656,711 — 1,656,711 — 
Mortgage banking derivative instruments7,814 — 7,814 — 
Total recurring assets at fair value$3,067,928 $— $3,066,428 $1,500 
Financial liabilities:    
Derivative financial instruments$187 $— $187 $— 
Mortgage banking derivative instruments4,471 — 4,471 — 
Total recurring liabilities at fair value$4,658 $— $4,658 $— 
Summary of Fair Value Measurements of Assets Measured at Fair Value on Non-Recurring Basis
The following table presents the fair value measurements of assets measured at fair value on a non-recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy as of September 30, 2020 and December 31, 2019:
 Nonrecurring Basis
Fair Value Measurements
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
September 30, 2020    
Collateral-dependent loans$148,083 $— $— $148,083 
Other real estate owned4,239 — — 4,239 
Mortgage servicing rights114,396 — 114,396 — 
SBA servicing rights6,062 — 6,062 — 
Total nonrecurring assets at fair value$272,780 $— $120,458 $152,322 
December 31, 2019    
Impaired loans carried at fair value$43,788 $— $— $43,788 
Other real estate owned17,289 — — 17,289 
Total nonrecurring assets at fair value$61,077 $— $— $61,077 
Summary of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets and Liabilities
The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets:
(dollars in thousands)Fair ValueValuation
Technique		Unobservable InputsRange of
Discounts		Weighted
Average
Discount
September 30, 2020     
Recurring:     
Investment securities available for sale$1,185 Discounted cash flowsProbability of default14.6%14.6%
Loss given default31%31%
Nonrecurring:     
Collateral-dependent loans$148,083 Third-party appraisals and discounted cash flowsCollateral discounts and
discount rates
20% - 77%
45%
Other real estate owned$4,239 Third-party appraisals and sales contractsCollateral discounts and estimated
costs to sell
0% - 75%
21%
December 31, 2019     
Recurring:     
Investment securities available for sale$1,500 Discounted par valuesCredit quality of underlying issuer0%0%
Nonrecurring:    
Impaired loans$43,788 Third-party appraisals and discounted cash flowsCollateral discounts and
discount rates
1% - 95%
27%
Other real estate owned$17,289 Third-party appraisals and sales contractsCollateral discounts and estimated
costs to sell
9% - 89%
31%
Carrying Amount and Estimated Fair Value of Financial Instruments
The carrying amount and estimated fair value of the Company’s financial instruments, not shown elsewhere in these financial statements, were as follows.
Fair Value Measurements
  September 30, 2020
(dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total
Financial assets:     
Cash and due from banks$257,026 $257,026 $— $— $257,026 
Federal funds sold and interest-bearing accounts494,765 494,765 — — 494,765 
Time deposits in other banks249 — 249 — 249 
Loans, net14,563,586 — — 14,657,861 14,657,861 
Accrued interest receivable79,403 — 4,485 74,918 79,403 
Financial liabilities:     
Deposits16,063,806 — 16,076,073 — 16,076,073 
Securities sold under agreements to repurchase9,103 9,103 — — 9,103 
Other borrowings875,255 — 877,424 — 877,424 
Subordinated deferrable interest debentures123,860 — 116,193 — 116,193 
FDIC loss-share payable19,476 — — 19,639 19,639 
Accrued interest payable6,443 — 6,443 — 6,443 
  
Fair Value Measurements
  December 31, 2019
(dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total
Financial assets:     
Cash and due from banks$246,234 $246,234 $— $— $246,234 
Federal funds sold and interest-bearing accounts375,615 375,615 — — 375,615 
Time deposits in other banks249 — 249 — 249 
Loans, net12,736,499 — — 12,806,709 12,806,709 
Accrued interest receivable52,362 — 5,179 47,183 52,362 
Financial liabilities:     
Deposits14,027,073 — 14,035,686 — 14,035,686 
Securities sold under agreements to repurchase20,635 20,635 — — 20,635 
Other borrowings1,398,709 — 1,402,510 — 1,402,510 
Subordinated deferrable interest debentures127,560 — 126,815 — 126,815 
FDIC loss-share payable19,642 — — 19,657 19,657 
Accrued interest payable11,524 — 11,524 — 11,524