Fair Value (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2022 and 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 years ended December 31, 2022 and 2021.

	December 31, 2022
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	391,513	$	391,513	$	—	$	—
U.S. Government agency obligations		7,766		—		7,766		—
Obligations of states and political subdivisions		4,862		—		4,862		—
Mortgage-backed securities		1,619,941		—		1,619,941		—
Securities available for sale		2,024,082		391,513		1,632,569		—
LHFS		135,226		—		135,226		—
MSR		129,677		—		—		129,677
Other assets - derivatives		8,871		54		8,660		157
Other liabilities - derivatives		45,379		474		44,905		—

	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 years ended December 31, 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)		24,147			(131	)
Additions		17,843			—
Sales		—			(1,571	)
Balance, December 31, 2022	$	129,677		$	157
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    December 31, 2022	$	38,181		$	(1,214	)
Balance, January 1, 2021	$	66,464		$	9,560
Total net (loss) gain included in Mortgage banking, net (1)		(6,902	)		9,104
Additions		28,125			—
Sales		—			(16,805	)
Balance, December 31, 2021	$	87,687		$	1,859
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    December 31, 2021	$	13,258		$	3,159

(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 December 31, 2022 and 2021 were as follows ($ in thousands):

	December 31, 2022				December 31, 2021
	Carrying  Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial Assets:
Level 2 Inputs:
Cash and short-term investments	$	738,787	$	738,787	$	2,266,829	$	2,266,829
Securities held to maturity		1,494,514		1,406,589		342,537		353,511
Level 3 Inputs:
Net LHFI and PPP loans		12,083,825		11,850,318		10,181,708		10,123,379
Financial Liabilities:
Level 2 Inputs:
Deposits		14,437,648		14,404,661		15,087,160		15,084,440
Federal funds purchased and securities sold under    repurchase agreements		449,331		449,331		238,577		238,577
Other borrowings		1,050,938		1,050,932		91,025		91,022
Subordinated notes		123,262		113,125		123,042		128,438
Junior subordinated debt securities		61,856		46,392		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 the LHFS accounted for under the fair value option at December 31, 2022 and 2021 ($ in thousands):

	December 31,
	2022		2021
Fair value of LHFS	$	64,421	$	191,242
LHFS contractual principal outstanding		63,427		186,535
Fair value less unpaid principal	$	994	$	4,707