XML 55 R42.htm IDEA: XBRL DOCUMENT v3.22.2.2
Fair Value (Tables)
9 Months Ended
Sep. 30, 2022
Fair Value.  
Schedule of recorded amount of assets and liabilities measured at fair value on a recurring basis

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Quoted Prices

    

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In Active

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Significant

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Markets

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Other

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Significant

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for Identical

​

Observable

​

Unobservable

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​

Assets

​

Inputs

​

Inputs

(Dollars in thousands)

​

Fair Value

​

(Level 1)

​

(Level 2)

​

(Level 3)

September 30, 2022:

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​

​

​

​

​

​

​

​

​

​

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Derivative financial instruments

​

$

1,083,803

​

$

—

​

$

1,083,803

​

$

—

Loans held for sale

​

 

34,477

​

 

—

​

 

34,477

​

 

—

Trading securities

​

 

51,940

​

 

—

​

 

51,940

​

 

—

Securities available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasuries

​

​

264,425

​

​

—

​

​

264,425

​

​

—

U.S. Government agencies

​

​

218,623

​

​

—

​

​

218,623

​

​

—

Residential mortgage-backed securities issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

1,730,067

​

​

—

​

​

1,730,067

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​

—

Residential collateralized mortgage-obligations issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

627,812

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​

—

​

​

627,812

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​

—

Commercial mortgage-backed securities issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

1,027,776

​

​

—

​

​

1,027,776

​

​

—

State and municipal obligations

​

 

1,003,318

​

 

—

​

 

1,003,318

​

 

—

Small Business Administration loan-backed securities

​

 

464,236

​

 

—

​

 

464,236

​

 

—

Corporate securities

​

​

33,353

​

​

—

​

​

33,353

​

​

—

Total securities available for sale

​

 

5,369,610

​

 

—

​

 

5,369,610

​

 

—

Mortgage servicing rights

​

 

90,459

​

 

—

​

 

—

​

 

90,459

SBA servicing assets

​

​

6,981

​

​

—

​

​

—

​

​

6,981

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​

$

6,637,270

​

$

—

​

$

6,539,830

​

$

97,440

Liabilities

​

​

​

​

​

​

​

​

​

​

​

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Derivative financial instruments

​

$

1,082,948

​

$

—

​

$

1,082,948

​

$

—

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​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2021:

​

​

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​

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​

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Assets

​

​

​

​

​

​

​

​

​

​

​

​

Derivative financial instruments

​

$

414,742

​

$

—

​

$

414,742

​

$

—

Loans held for sale

​

 

191,723

​

 

—

​

 

191,723

​

 

—

Trading securities

​

 

77,689

​

 

—

​

 

77,689

​

 

—

Securities available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agencies

​

​

97,117

​

​

—

​

​

97,117

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​

—

Residential mortgage-backed securities issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

1,831,039

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​

—

​

​

1,831,039

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​

—

Residential collateralized mortgage-obligations issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

725,995

​

​

—

​

​

725,995

​

​

—

Commercial mortgage-backed securities issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

1,207,241

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​

—

​

​

1,207,241

​

​

—

State and municipal obligations

​

 

812,689

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—

​

 

812,689

​

 

—

Small Business Administration loan-backed securities

​

 

500,663

​

 

—

​

 

500,663

​

 

—

Corporate securities

​

 

18,734

​

 

—

​

 

18,734

​

 

—

Total securities available for sale

​

 

5,193,478

​

 

—

​

 

5,193,478

​

 

—

Mortgage servicing rights

​

 

65,620

​

 

—

​

 

—

​

 

65,620

​

​

$

5,943,252

​

$

—

​

$

5,877,632

​

$

65,620

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Derivative financial instruments

​

$

410,137

​

$

—

​

$

410,137

​

$

—

Schedule of reconciliation of the beginning and ending balances of Level 3 assets, comprised of Mortgage Servicing Rights, and liabilities recorded at fair value on a recurring basis

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(Dollars in thousands)

    

Assets

    

Liabilities

 

Fair value, January 1, 2022

​

$

65,620

​

$

—

​

Servicing assets that resulted from transfers of financial assets

​

 

14,617

​

 

—

​

Changes in fair value due to valuation inputs or assumptions

​

 

18,274

​

 

—

​

Changes in fair value due to decay

​

 

(8,052)

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—

​

Fair value, September 30, 2022

​

$

90,459

​

$

—

​

Schedule of amounts of assets and liabilities measured at fair value on a nonrecurring basis

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​

​

​

    

​

​

    

Quoted Prices

    

​

​

    

​

​

 

​

​

​

​

​

In Active

​

Significant

​

​

​

 

​

​

​

​

​

Markets

​

Other

​

Significant

 

​

​

​

​

​

for Identical

​

Observable

​

Unobservable

 

​

​

​

​

​

Assets

​

Inputs

​

Inputs

 

(Dollars in thousands)

​

Fair Value

​

(Level 1)

​

(Level 2)

​

(Level 3)

 

September 30, 2022:

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OREO

​

$

2,160

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$

—

​

$

—

​

$

2,160

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Bank property held for sale

​

​

25,043

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​

—

​

 

—

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​

25,043

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Individually evaluated loans

​

 

52,368

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—

​

 

—

​

 

52,368

​

December 31, 2021:

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OREO

​

$

2,736

​

$

—

​

$

—

​

$

2,736

​

Bank property held for sale

​

​

9,578

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​

—

​

 

—

​

​

9,578

​

Individually evaluated loans

​

 

20,802

​

 

—

​

 

—

​

 

20,802

​

Schedule of quantitative information about level 3 fair value measurements

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Weighted Average

​

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​

September 30,

​

December 31,

​

    

Valuation Technique

    

Unobservable Input

    

2022

    

2021

Nonrecurring measurements:

​

​

​

​

​

​

​

​

​

​

Individually evaluated loans

 

Discounted appraisals and discounted cash flows

 

Collateral discounts

​

25

%

​

9

%

OREO and premises held for sale

 

Discounted appraisals

 

Collateral discounts and estimated costs to sell

​

15

%

​

24

%

Schedule of estimated fair value, and related carrying amount, of the Company's financial instruments

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Carrying

    

Fair

    

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(Dollars in thousands)

​

Amount

​

Value

​

Level 1

​

Level 2

​

Level 3

 

September 30, 2022

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Financial assets:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

2,809,695

​

$

2,809,695

​

$

2,809,695

​

$

—

​

$

—

​

Trading securities

​

​

51,940

​

​

51,940

​

​

—

​

​

51,940

​

​

—

​

Investment securities

​

 

8,287,543

​

 

7,848,527

​

 

179,755

​

 

7,668,772

​

 

—

​

Loans held for sale

​

​

34,477

​

​

34,477

​

​

—

​

​

34,477

​

​

—

​

Loans, net of allowance for credit losses

​

 

28,511,905

​

 

28,271,062

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—

​

 

—

​

 

28,271,062

​

Accrued interest receivable

​

 

124,553

​

 

124,553

​

 

—

​

 

28,508

​

 

96,045

​

Mortgage servicing rights

​

 

90,459

​

 

90,459

​

 

—

​

 

—

​

 

90,459

​

SBA servicing assets

​

​

6,981

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​

—

​

​

—

​

​

—

​

​

6,981

​

Interest rate swap - non-designated hedge

​

 

1,081,768

​

 

1,081,768

​

 

—

​

 

1,081,768

​

 

—

​

Other derivative financial instruments (mortgage banking related)

​

 

2,035

​

 

2,035

​

 

—

​

 

2,035

​

 

—

​

Financial liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

 

37,666,021

​

 

37,578,773

​

 

—

​

 

37,578,773

​

 

—

​

Federal funds purchased and securities sold under agreements to repurchase

​

 

557,802

​

 

557,802

​

 

—

​

 

557,802

​

 

—

​

Other borrowings

​

 

392,368

​

 

379,992

​

 

—

​

 

379,992

​

 

—

​

Accrued interest payable

​

 

6,354

​

 

6,354

​

 

—

​

 

6,354

​

 

—

​

Interest rate swap - non-designated hedge

​

 

1,081,267

​

 

1,081,267

​

 

—

​

 

1,081,267

​

 

—

​

Other derivative financial instruments (mortgage banking related)

​

 

1,681

​

 

1,681

​

 

—

​

 

1,681

​

 

—

​

Off balance sheet financial instruments:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commitments to extend credit

​

 

—

​

 

(92,429)

​

 

—

​

 

(92,429)

​

 

—

​

December 31, 2021

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​

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​

​

​

​

​

​

​

​

​

​

​

Financial assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

6,843,147

​

$

6,843,147

​

$

6,843,147

​

$

—

​

$

—

​

Trading securities

​

​

77,689

​

​

77,689

​

​

—

​

​

77,689

​

​

—

​

Investment securities

​

 

7,173,947

​

 

7,132,110

​

 

160,568

​

 

6,971,542

​

 

—

​

Loans held for sale

​

​

191,723

​

​

191,723

​

​

—

​

​

191,723

​

​

—

​

Loans, net of allowance for credit losses

​

 

23,626,359

​

 

23,921,372

​

 

—

​

 

—

​

 

23,921,372

​

Accrued interest receivable

​

 

90,069

​

 

90,069

​

 

—

​

 

19,241

​

 

70,828

​

Mortgage servicing rights

​

 

65,620

​

 

65,620

​

 

—

​

 

—

​

 

65,620

​

Interest rate swap - non-designated hedge

​

 

408,776

​

 

408,776

​

 

—

​

 

408,776

​

 

—

​

Other derivative financial instruments (mortgage banking related)

​

 

5,966

​

 

5,966

​

 

—

​

 

5,966

​

 

—

​

Financial liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

 

35,054,829

​

 

35,050,516

​

 

—

​

 

35,050,516

​

 

—

​

Federal funds purchased and securities sold under agreements to repurchase

​

 

781,239

​

 

781,239

​

 

—

​

 

781,239

​

 

—

​

Other borrowings

​

 

327,066

​

 

334,640

​

 

—

​

 

334,640

​

 

—

​

Accrued interest payable

​

 

3,345

​

 

3,345

​

 

—

​

 

3,345

​

 

—

​

Interest rate swap - non-designated hedge

​

 

410,137

​

 

410,137

​

 

—

​

 

410,137

​

 

—

​

Off balance sheet financial instruments:

​

 

​

​

 

​

​

​

​

​

​

​

​

​

​

​

Commitments to extend credit

​

​

—

​

 

93,501

​

 

—

​

 

93,501

​

 

—

​