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FAIR VALUE MEASURES (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of 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)March 31, 2025December 31, 2024
Mortgage loans held for sale$545,388 $528,599 
Total loans held for sale$545,388 $528,599 
Schedule of 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 March 31, 2025 and December 31, 2024:

(dollars in thousands) 
March 31, 2025December 31, 2024
Aggregate fair value of mortgage loans held for sale$545,388 $528,599 
Aggregate unpaid principal balance of mortgage loans held for sale534,583 525,071 
Past-due loans of 90 days or more467 — 
Nonaccrual loans467 — 
Unpaid principal balance of nonaccrual loans462 — 
Schedule of 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 March 31, 2025 and December 31, 2024:

Recurring Basis
Fair Value Measurements
 March 31, 2025
(dollars in thousands) 
Fair ValueLevel 1Level 2Level 3
Financial assets:    
Debt securities available-for-sale:
U.S. Treasuries$929,918 $929,918 $— $— 
U.S. government sponsored agencies996 — 996 — 
State, county and municipal securities24,763 — 24,763 — 
Corporate debt securities10,442 — 9,392 1,050 
SBA pool securities65,710 — 65,710 — 
Mortgage-backed securities911,182 — 911,182 — 
Loans held for sale545,388 — 545,388 — 
Derivative financial instruments6,303 — 6,303 — 
Mortgage banking derivative instruments5,416 — 5,416 — 
Total recurring assets at fair value$2,500,118 $929,918 $1,569,150 $1,050 
Financial liabilities:    
Derivative financial instruments$6,439 $— $6,439 $— 
Risk participation agreement22 — 22 — 
Mortgage banking derivative instruments2,867 — 2,867 — 
Total recurring liabilities at fair value$9,328 $— $9,328 $— 

Recurring Basis
Fair Value Measurements
 December 31, 2024
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
Financial assets:    
Debt securities available-for-sale:
U.S. Treasuries$796,464 $796,464 $— $— 
U.S. government sponsored agencies994 — 994 — 
State, county and municipal securities24,740 — 24,740 — 
Corporate debt securities10,283 — 9,263 1,020 
SBA pool securities70,482 — 70,482 — 
Mortgage-backed securities768,297 — 768,297 — 
Loans held for sale528,599 — 528,599 — 
Derivative financial instruments8,717 — 8,717 — 
Mortgage banking derivative instruments7,299 — 7,299 — 
Total recurring assets at fair value$2,215,875 $796,464 $1,418,391 $1,020 
Financial liabilities:    
Derivative financial instruments$8,718 $— $8,718 $— 
Risk participation agreement13 — 13 — 
Total recurring liabilities at fair value$8,731 $— $8,731 $— 
Schedule 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 March 31, 2025 and December 31, 2024:

 Nonrecurring Basis
Fair Value Measurements
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
March 31, 2025    
Collateral-dependent loans$41,780 $— $— $41,780 
Other real estate owned276 — — 276 
Total nonrecurring assets at fair value$42,056 $— $— $42,056 
December 31, 2024    
Collateral-dependent loans$45,697 $— $— $45,697 
Other real estate owned1,010 — — 1,010 
Total nonrecurring assets at fair value$46,707 $— $— $46,707 
Schedule 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
March 31, 2025     
Recurring:     
Debt securities available-for-sale$1,050 Discounted cash flowsProbability of Default10.2%10.2%
Loss Given Default45%45%
Nonrecurring:     
Collateral-dependent loans$41,780 Third-party appraisals and discounted cash flowsCollateral discounts and
discount rates
16% - 51%
29%
Other real estate owned$276 Third-party appraisals and sales contractsCollateral discounts and estimated
costs to sell
15%
15%
December 31, 2024     
Recurring:     
Debt securities available-for-sale$1,020 Discounted cash flowsProbability of Default10.3%10.3%
Loss Given Default45%45%
Nonrecurring:   
Collateral-dependent loans$45,697 Third-party appraisals and discounted cash flowsCollateral discounts and
discount rates
15% - 60%
30%
Other real estate owned$1,010 Third-party appraisals and sales contractsCollateral discounts and estimated
costs to sell
15% - 44%
27%
Schedule of 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
  March 31, 2025
(dollars in thousands)Carrying
Amount
Level 1Level 2Level 3Total
Financial assets:     
Cash and due from banks$253,289 $253,289 $— $— $253,289 
Interest-bearing deposits in banks1,039,111 1,039,111 — — 1,039,111 
Debt securities held-to-maturity173,757 — 154,859 — 154,859 
Loans, net20,319,309 — — 19,900,724 19,900,724 
Financial liabilities:     
Deposits21,912,409 — 21,911,054 — 21,911,054 
Other borrowings276,744 — 272,495 — 272,495 
Subordinated deferrable interest debentures132,807 — 141,372 — 141,372 

Fair Value Measurements
  December 31, 2024
(dollars in thousands)Carrying
Amount
Level 1Level 2Level 3Total
Financial assets:     
Cash and due from banks$244,980 $244,980 $— $— $244,980 
Interest-bearing deposits in banks975,397 975,397 — — 975,397 
Debt securities held-to-maturity164,677 — 144,028 — 144,028 
Loans, net20,356,125 — — 19,882,553 19,882,553 
Financial liabilities:     
Deposits21,722,448 — 21,721,421 — 21,721,421 
Other borrowings291,788 — 291,213 — 291,213 
Subordinated deferrable interest debentures132,309 — 142,202 — 142,202