Fair Value (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value Recurring Basis

The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis at June 30, 2022 and December 31, 2021, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value ($ in thousands). There were no transfers between fair value levels for the six months ended June 30, 2022 and the year ended December 31, 2021.

	June 30, 2022
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	419,696	$	419,696	$	—	$	—
U.S. Government agency obligations		11,947		—		11,947		—
Obligations of states and political subdivisions		5,179		—		5,179		—
Mortgage-backed securities		2,207,542		—		2,207,542		—
Securities available for sale		2,644,364		419,696		2,224,668		—
LHFS		190,186		—		190,186		—
MSR		121,014		—		—		121,014
Other assets - derivatives		5,569		70		3,917		1,582
Other liabilities - derivatives		28,575		2,108		26,467		—

	December 31, 2021
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	344,640	$	344,640	$	—	$	—
U.S. Government agency obligations		13,727		—		13,727		—
Obligations of states and political subdivisions		5,714		—		5,714		—
Mortgage-backed securities		2,874,796		—		2,874,796		—
Securities available for sale		3,238,877		344,640		2,894,237		—
LHFS		275,706		—		275,706		—
MSR		87,687		—		—		87,687
Other assets - derivatives		24,809		2,794		20,156		1,859
Other liabilities - derivatives		4,677		414		4,263		—

Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis

The changes in Level 3 assets measured at fair value on a recurring basis for the six months ended June 30, 2022 and 2021 are summarized as follows ($ in thousands):

	MSR			Other Assets - Derivatives
Balance, January 1, 2022	$	87,687		$	1,859
Total net (loss) gain included in Mortgage banking, net (1)		23,168			769
Additions		10,159			—
Sales		—			(1,046	)
Balance, June 30, 2022	$	121,014		$	1,582
The amount of total gains (losses) for the period included in earnings    that are attributable to the change in unrealized gains or    losses still held at June 30, 2022	$	30,759		$	(411	)
Balance, January 1, 2021	$	66,464		$	9,560
Total net (loss) gain included in Mortgage banking, net (1)		(901	)		5,857
Additions		15,201			—
Sales		—			(11,532	)
Balance, June 30, 2021	$	80,764		$	3,885
The amount of total gains (losses) for the period included in    earnings that are attributable to the change in unrealized    gains or losses still held at June 30, 2021	$	9,231		$	2,592

(1)Total net (loss) gain included in Mortgage banking, net relating to the MSR includes changes in fair value due to market changes and due to run-off.

Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at June 30, 2022 and December 31, 2021, are as follows ($ in thousands):

	June 30, 2022				December 31, 2021
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial Assets:
Level 2 Inputs:
Cash and short-term investments	$	742,461	$	742,461	$	2,266,829	$	2,266,829
Securities held to maturity		1,137,754		1,102,459		342,537		353,511
Level 3 Inputs:
Net LHFI and PPP loans		10,854,249		10,746,795		10,181,708		10,123,379
Financial Liabilities:
Level 2 Inputs:
Deposits		14,770,168		14,749,561		15,087,160		15,084,440
Federal funds purchased and securities sold under    repurchase agreements		70,157		70,157		238,577		238,577
Other borrowings		72,553		72,547		91,025		91,022
Subordinated notes		123,152		117,813		123,042		128,438
Junior subordinated debt securities		61,856		48,248		61,856		49,485

Fair Value and the Contractual Principal Outstanding of the LHFS

The following table provides information about the fair value and the contractual principal outstanding of LHFS accounted for under the fair value option as of June 30, 2022 and December 31, 2021 ($ in thousands):

	June 30, 2022		December 31, 2021
Fair value of LHFS	$	123,452	$	191,242
LHFS contractual principal outstanding		121,536		186,535
Fair value less unpaid principal	$	1,916	$	4,707