Fair Value (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024 and December 31, 2023, 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, 2024 and the year ended December 31, 2023.

	June 30, 2024
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	172,955	$	172,955	$	—	$	—
Mortgage-backed securities		1,448,704		—		1,448,704		—
Securities available for sale		1,621,659		172,955		1,448,704		—
LHFS		185,698		—		185,698		—
MSR		136,658		—		—		136,658
Other assets		26,880		9,991		16,198		691
Other liabilities		41,645		180		41,465		—

	December 31, 2023
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	372,368	$	372,368	$	—	$	—
U.S. Government agency obligations		5,792		—		5,792		—
Mortgage-backed securities		1,384,718		—		1,384,718		—
Securities available for sale		1,762,878		372,368		1,390,510		—
LHFS		184,812		—		184,812		—
MSR		131,870		—		—		131,870
Other assets - derivatives		23,316		7,685		14,786		845
Other liabilities - derivatives		35,600		21		35,579		—

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, 2024 and 2023 are summarized as follows ($ in thousands):

	MSR			Other Assets - Derivatives
Balance, January 1, 2024	$	131,870		$	845
Total net (loss) gain included in Mortgage banking, net (1)		(1,876	)		1,556
Additions		6,664			—
Sales		—			(1,710	)
Balance, June 30, 2024	$	136,658		$	691
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, 2024	$	3,498		$	1,304
Balance, January 1, 2023	$	129,677		$	157
Total net (loss) gain included in Mortgage banking, net (1)		(1,929	)		1,553
Additions		6,602			—
Sales		—			(1,239	)
Balance, June 30, 2023	$	134,350		$	471
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, 2023	$	1,926		$	514

(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, 2024 and December 31, 2023, are as follows ($ in thousands):

	June 30, 2024				December 31, 2023
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial Assets:
Level 2 Inputs:
Cash and short-term investments	$	822,141	$	822,141	$	975,343	$	975,343
Securities held to maturity		1,380,487		1,293,131		1,426,279		1,355,504
Level 3 Inputs:
Net LHFI		13,000,733		12,952,418		12,811,157		12,762,505
Financial Liabilities:
Level 2 Inputs:
Deposits		15,462,888		15,445,186		15,569,763		15,553,417
Federal funds purchased and securities sold under    repurchase agreements		314,121		314,121		405,745		405,745
Other borrowings		336,687		336,687		483,230		483,226
Subordinated notes		123,592		112,500		123,482		108,125
Junior subordinated debt securities		61,856		47,629		61,856		48,856

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 at June 30, 2024 and December 31, 2023 ($ in thousands):

	June 30, 2024		December 31, 2023
Fair value of LHFS	$	103,137	$	105,974
LHFS contractual principal outstanding		101,690		102,994
Fair value less unpaid principal	$	1,447	$	2,980