Fair Value (Tables)

6 Months Ended

Jun. 30, 2024

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)
June 30, 2024:
Assets
Derivative financial instruments	$	185,036	$	—	$	185,036	$	—
Loans held for sale		100,007		—		100,007		—
Trading securities		92,161		—		92,161		—
Securities available for sale:
U.S. Treasuries		37,945		—		37,945		—
U.S. Government agencies		195,123		—		195,123		—
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,448,928		—		1,448,928		—
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises		490,544		—		490,544		—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,008,962		—		1,008,962		—
State and municipal obligations		952,702		—		952,702		—
Small Business Administration loan-backed securities		336,742		—		336,742		—
Corporate securities		27,318		—		27,318		—
Total securities available for sale		4,498,264		—		4,498,264		—
Mortgage servicing rights		88,904		—		—		88,904
SBA servicing asset		6,307		—		—		6,307
	$	4,970,679	$	—	$	4,875,468	$	95,211
Liabilities
Derivative financial instruments	$	955,347	$	—	$	955,347	$	—
December 31, 2023:
Assets
Derivative financial instruments	$	172,939	$	—	$	172,939	$	—
Loans held for sale		50,888		—		50,888		—
Trading securities		31,321		—		31,321		—
Securities available for sale:
U.S. Treasuries		73,890		—		73,890		—
U.S. Government agencies		224,706		—		224,706		—
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,558,306		—		1,558,306		—
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises		527,422		—		527,422		—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,024,170		—		1,024,170		—
State and municipal obligations		977,461		—		977,461		—
Small Business Administration loan-backed securities		371,686		—		371,686		—
Corporate securities		26,747		—		26,747		—
Total securities available for sale		4,784,388		—		4,784,388		—
Mortgage servicing rights		85,164		—		—		85,164
SBA servicing asset		5,952		—		—		5,952
	$	5,130,652	$	—	$	5,039,536	$	91,116
Liabilities
Derivative financial instruments	$	804,486	$	—	$	804,486	$	—

Schedule of mortgage loans held for sale

	June 30,		December 31,
(Dollars in thousands)	2024		2023
Fair value	$	100,007	$	50,888
Unpaid principal balance		97,136		49,025
Fair value less aggregated unpaid principal balance	$	2,871	$	1,863

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2024		2023		2024		2023		Income Statement Location
Mortgage loans held for sale	$	1,152	$	75	$	1,008	$	66	Mortgage banking income

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)
June 30, 2024:
OREO	$	3,057	$	—	$	—	$	3,057
Bank properties held for sale		6,100		—		—		6,100
Individually evaluated loans		80,620		—		—		80,620
December 31, 2023:
OREO	$	837	$	—	$	—	$	837
Bank properties held for sale		12,401		—		—		12,401
Individually evaluated loans		73,518		—		—		73,518

Schedule of quantitative information about level 3 fair value measurements

			Weighted Average Discount
			June 30,		December 31,
	Valuation Technique	Unobservable Input	2024		2023
Nonrecurring measurements:
Individually evaluated loans	Discounted appraisals and discounted cash flows	Collateral discounts	12	%	13	%
OREO and Bank properties held for sale	Discounted appraisals	Collateral discounts and estimated costs to sell	7	%	12	%

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
June 30, 2024
Financial assets:
Cash and cash equivalents	$	1,117,166	$	1,117,166	$	1,117,166	$	—	$	—
Trading securities		92,161		92,161		—		92,161		—
Investment securities		7,048,308		6,620,721		201,516		6,419,205		—
Loans held for sale		100,007		100,007		—		100,007		—
Loans, net of allowance for credit losses		32,762,266		31,609,083		—		—		31,609,083
Accrued interest receivable		159,862		159,862		—		25,803		134,059
Mortgage servicing rights		88,904		88,904		—		—		88,904
SBA servicing asset		6,307		6,307		—		—		6,307
Interest rate swap – non-designated hedge		182,802		182,802		—		182,802		—
Other derivative financial instruments (mortgage banking related)		2,234		2,234		—		2,234		—
Financial liabilities:
Deposits
Noninterest-bearing		10,374,464		10,374,464		—		10,374,464		—
Interest-bearing other than time deposits		22,144,872		22,144,872		—		22,144,872		—
Time deposits		4,579,066		4,540,610		—		4,540,610		—
Federal funds purchased and securities sold under agreements to repurchase		542,403		542,403		—		542,403		—
Corporate and subordinated debentures		391,719		385,136		—		385,136		—
Other borrowings		300,000		300,000		—		300,000		—
Accrued interest payable		55,343		55,343		—		55,343		—
Interest rate swap – non-designated hedge		955,347		955,347		—		955,347		—
Other derivative financial instruments (mortgage banking related)		—		—		—		—		—
December 31, 2023
Financial assets:
Cash and cash equivalents	$	998,877	$	998,877	$	998,877	$	—	$	—
Trading securities		31,321		31,321		—		31,321		—
Investment securities		7,463,871		7,061,167		192,043		6,869,124		—
Loans held for sale		50,888		50,888		—		50,888		—
Loans, net of allowance for credit losses		31,931,916		30,709,513		—		—		30,709,513
Accrued interest receivable		154,400		154,400		—		26,706		127,694
Mortgage servicing rights		85,164		85,164		—		—		85,164
SBA servicing asset		5,952		5,952		—		—		5,952
Interest rate swap – non-designated hedge		169,180		169,180		—		169,180		—
Other derivative financial instruments (mortgage banking related)		3,759		3,759		—		3,759		—
Financial liabilities:
Deposits
Noninterest-bearing		10,649,274		10,649,274		—		10,649,274		—
Interest-bearing other than time deposits		22,149,682		22,149,682		—		22,149,682		—
Time deposits		4,249,953		4,208,498		—		4,208,498		—
Federal funds purchased and securities sold under agreements to repurchase		489,185		489,185		—		489,185		—
Corporate and subordinated debentures		391,904		388,909		—		388,909		—
Other borrowings		100,000		100,000		—		100,000		—
Accrued interest payable		56,808		56,808		—		56,808		—
Interest rate swap – non-designated hedge		803,539		803,539		—		803,539		—
Other derivative financial instruments (mortgage banking related)		947		947		—		947		—

Mortgage Servicing Rights

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, 2024	$	85,164
Servicing assets that resulted from transfers of financial assets		4,533
Changes in fair value due to valuation inputs or assumptions		3,214
Changes in fair value due to decay		(4,007)
Fair value, June 30, 2024	$	88,904

SBA servicing asset

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)	SBA Servicing Asset
Fair value, January 1, 2024	$	5,952
Servicing assets that resulted from transfers of financial assets		1,113
Changes in fair value due to decay		(956)
Changes in fair value due to valuation inputs or assumptions		198
Fair value, June 30, 2024	$	6,307