Fair Value (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of recorded amount of assets and liabilities measured at fair value on a recurring basis

			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)
March 31, 2023:
Assets
Derivative financial instruments	$	159,287	$	—	$	159,287	$	—
Loans held for sale		27,289		—		27,289		—
Trading securities		16,039		—		16,039		—
Securities available for sale:
U.S. Treasuries		268,096		—		268,096		—
U.S. Government agencies		220,259		—		220,259		—
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,673,162		—		1,673,162		—
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises		591,412		—		591,412		—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		987,437		—		987,437		—
State and municipal obligations		966,957		—		966,957		—
Small Business Administration loan-backed securities		425,492		—		425,492		—
Corporate securities		27,184		—		27,184		—
Total securities available for sale		5,159,999		—		5,159,999		—
Mortgage servicing rights		85,406		—		—		85,406
SBA servicing asset		6,521		—		—		6,521
	$	5,454,541	$	—	$	5,362,614	$	91,927
Liabilities
Derivative financial instruments	$	806,584	$	—	$	806,584	$	—
December 31, 2022:
Assets
Derivative financial instruments	$	211,016	$	—	$	211,016	$	—
Loans held for sale		28,968		—		28,968		—
Trading securities		31,263		—		31,263		—
Securities available for sale:
U.S. Treasuries		265,638		—		265,638		—
U.S. Government agencies		219,088		—		219,088		—
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,698,353		—		1,698,353		—
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises		601,045		—		601,045		—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,000,398		—		1,000,398		—
State and municipal obligations		1,064,852		—		1,064,852		—
Small Business Administration loan-backed securities		444,810		—		444,810		—
Corporate securities		32,638		—		32,638		—
Total securities available for sale		5,326,822		—		5,326,822		—
Mortgage servicing rights		86,610		—		—		86,610
SBA servicing asset		6,068		—		—		6,068
	$	5,690,747	$	—	$	5,598,069	$	92,678
Liabilities
Derivative financial instruments	$	1,034,143	$	—	$	1,034,143	$	—

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

(Dollars in thousands)	MSRs
Fair value, January 1, 2023	$	86,610
Servicing assets that resulted from transfers of financial assets		1,494
Changes in fair value due to valuation inputs or assumptions		(1,289)
Changes in fair value due to decay		(1,409)
Fair value, March 31, 2023	$	85,406

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

			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)
March 31, 2023:
OREO	$	3,473	$	—	$	—	$	3,473
Bank properties held for sale		16,724		—		—		16,724
Individually evaluated loans		28,650		—		—		28,650
December 31, 2022:
OREO	$	1,023	$	—	$	—	$	1,023
Bank properties held for sale		17,754		—		—		17,754
Individually evaluated loans		20,802		—		—		20,802

Schedule of quantitative information about level 3 fair value measurements

			Weighted Average
			March 31,		December 31,
	Valuation Technique	Unobservable Input	2023		2022
Nonrecurring measurements:
Individually evaluated loans	Discounted appraisals and discounted cash flows	Collateral discounts	24	%	31	%
OREO and Bank properties held for sale	Discounted appraisals	Collateral discounts and estimated costs to sell	15	%	16	%

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

	Carrying		Fair
(Dollars in thousands)	Amount		Value		Level 1		Level 2		Level 3
March 31, 2023
Financial assets:
Cash and cash equivalents	$	1,996,662	$	1,996,662	$	1,996,662	$	—	$	—
Trading securities		16,039		16,039		—		16,039		—
Investment securities		8,014,663		7,567,328		179,717		7,387,611		—
Loans held for sale		27,289		27,289		—		27,289		—
Loans, net of allowance for credit losses		30,325,497		29,646,800		—		—		29,646,800
Accrued interest receivable		138,515		138,515		—		26,888		111,627
Mortgage servicing rights		85,406		85,406		—		—		85,406
SBA servicing asset		6,521		—		—		—		6,521
Interest rate swap - non-designated hedge		157,014		157,014		—		157,014		—
Other derivative financial instruments (mortgage banking related)		2,273		2,273		—		2,273		—
Financial liabilities:
Deposits		36,401,592		36,333,275		—		36,333,275		—
Federal funds purchased and securities sold under agreements to repurchase		544,108		556,417		—		556,417		—
Corporate and subordinated debentures		392,182		380,925		—		380,925		—
Other borrowings		900,000		900,000		—		900,000		—
Accrued interest payable		20,411		20,411		—		20,411		—
Interest rate swap - non-designated hedge		806,584		806,584		—		806,584		—
Other derivative financial instruments (mortgage banking related)		—		—		—		—		—
Off balance sheet financial instruments:
Commitments to extend credit		—		(255,022)		—		(255,022)		—
December 31, 2022
Financial assets:
Cash and cash equivalents	$	1,312,563	$	1,312,563	$	1,312,563	$	—	$	—
Trading securities		31,263		31,263		—		31,263		—
Investment securities		8,189,780		7,756,707		179,717		7,576,990		—
Loans held for sale		28,968		28,968		—		28,968		—
Loans, net of allowance for credit losses		29,821,418		29,329,499		—		—		29,329,499
Accrued interest receivable		134,594		134,594		—		28,449		106,145
Mortgage servicing rights		86,610		86,610		—		—		86,610
SBA servicing asset		6,068		—		—		—		6,068
Interest rate swap - non-designated hedge		210,216		210,216		—		210,216		—
Other derivative financial instruments (mortgage banking related)		800		800		—		800		—
Financial liabilities:
Deposits		36,350,623		36,264,401		—		36,264,401		—
Federal funds purchased and securities sold under agreements to repurchase		556,417		556,417		—		556,417		—
Corporate and subordinated debentures		392,275		377,360		—		377,360		—
Accrued interest payable		6,218		6,218		—		3,345		—
Interest rate swap - non-designated hedge		1,033,980		1,033,980		—		1,033,980		—
Other derivative financial instruments (mortgage banking related)		163		163		—		163		—
Off balance sheet financial instruments:
Commitments to extend credit		—		(184,801)		—		(184,801)		—

SBA servicing asset

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

(Dollars in thousands)	SBA Servicing Asset
Fair value, January 1, 2023	$	6,068
Servicing assets that resulted from transfers of financial assets		334
Changes in fair value due to decay		(236)
Changes in fair value due to valuation inputs or assumptions		355
Fair value, March 31, 2023	$	6,521