Fair Value (Tables)

12 Months Ended

Dec. 31, 2019

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 as of December 31, 2019 and 2018, 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, 2019 and 2018.

	December 31, 2019
	Total		Level 1		Level 2		Level 3
U.S. Government agency obligations	$	22,327	$	—	$	22,327	$	—
Obligations of states and political subdivisions		25,465		—		25,465		—
Mortgage-backed securities		1,554,612		—		1,554,612		—
Securities available for sale		1,602,404		—		1,602,404		—
Loans held for sale		226,347		—		226,347		—
Mortgage servicing rights		79,394		—		—		79,394
Other assets - derivatives		17,956		244		16,273		1,439
Other liabilities - derivatives		6,063		4,414		1,649		—

	December 31, 2018
	Total		Level 1		Level 2		Level 3
U.S. Government agency obligations	$	30,335	$	—	$	30,335	$	—
Obligations of states and political subdivisions		50,676		—		50,676		—
Mortgage-backed securities		1,730,802		—		1,730,802		—
Securities available for sale		1,811,813		—		1,811,813		—
Loans held for sale		153,799		—		153,799		—
Mortgage servicing rights		95,596		—		—		95,596
Other assets - derivatives		12,347		5,006		6,154		1,187
Other liabilities - derivatives		4,213		66		4,147		—

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, 2019 and 2018 are summarized as follows ($ in thousands):

	MSR			Other Assets - Derivatives
Balance, January 1, 2019	$	95,596		$	1,187
Total net (loss) gain included in Mortgage banking, net (1)		(32,913	)		6,775
Additions		16,711			—
Sales		—			(6,523	)
Balance, December 31, 2019	$	79,394		$	1,439
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, 2019	$	(21,078	)	$	1,284
Balance, January 1, 2018	$	84,269		$	900
Total net (loss) gain included in Mortgage banking, net (1)		(4,432	)		4,390
Additions		15,759			—
Sales		—			(4,103	)
Balance, December 31, 2018	$	95,596		$	1,187
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, 2018	$	7,342		$	636

(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, 2019 and 2018 were as follows ($ in thousands):

	December 31, 2019				December 31, 2018
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial Assets:
Level 2 Inputs:
Cash and short-term investments	$	358,916	$	358,916	$	350,391	$	350,391
Securities held to maturity		738,099		746,202		909,643		889,733
Level 3 Inputs:
Net LHFI		9,251,351		9,235,674		8,756,578		8,757,817
Net acquired loans		71,786		71,786		105,701		105,701
Financial Liabilities:
Level 2 Inputs:
Deposits		11,245,557		11,250,071		11,364,411		11,365,203
Federal funds purchased and securities sold under    repurchase agreements		256,020		256,020		50,471		50,471
Other borrowings		85,396		85,374		79,885		79,827
Junior subordinated debt securities		61,856		50,722		61,856		53,196

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 as of December 31, 2019 and 2018 ($ in thousands):

	December 31,
	2019		2018
Fair value of LHFS	$	169,285	$	92,235
LHFS contractual principal outstanding		164,420		89,056
Fair value less unpaid principal	$	4,865	$	3,179