Fair Value (Tables)

9 Months Ended

Sep. 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)
September 30, 2024:
Assets
Derivative financial instruments	$	195,722	$	—	$	195,722	$	—
Mortgage loans held for sale		64,865		—		64,865		—
Trading securities		87,103		—		87,103		—
Securities available for sale:
U.S. Treasuries		2,685		—		2,685		—
U.S. Government agencies		175,724		—		175,724		—
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,486,086		—		1,486,086		—
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises		492,242		—		492,242		—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises		1,060,829		—		1,060,829		—
State and municipal obligations		989,303		—		989,303		—
Small Business Administration loan-backed securities		329,510		—		329,510		—
Corporate securities		27,984		—		27,984		—
Total securities available for sale		4,564,363		—		4,564,363		—
Mortgage servicing rights		83,512		—		—		83,512
SBA servicing asset		6,079		—		—		6,079
	$	5,001,644	$	—	$	4,912,053	$	89,591
Liabilities
Derivative financial instruments	$	606,194	$	—	$	606,194	$	—
December 31, 2023:
Assets
Derivative financial instruments	$	172,939	$	—	$	172,939	$	—
Mortgage 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

	September 30,		December 31,
(Dollars in thousands)	2024		2023
Fair value	$	64,865	$	50,888
Unpaid principal balance		62,770		49,025
Fair value less aggregated unpaid principal balance	$	2,095	$	1,863

	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2024		2023		2024		2023		Income Statement Location
Mortgage loans held for sale	$	(776)	$	(574)	$	232	$	(508)	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)
September 30, 2024:
OREO	$	1,199	$	—	$	—	$	1,199
Bank properties held for sale		5,227		—		—		5,227
Individually evaluated loans		63,415		—		—		63,415
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
			September 30,		December 31,
	Valuation Technique	Unobservable Input	2024		2023
Nonrecurring measurements:
Individually evaluated loans	Discounted appraisals and discounted cash flows	Collateral discounts	22	%	13	%
OREO and Bank properties held for sale	Discounted appraisals	Collateral discounts and estimated costs to sell	9	%	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
September 30, 2024
Financial assets:
Cash and cash equivalents	$	1,212,679	$	1,212,679	$	1,212,679	$	—	$	—
Trading securities		87,103		87,103		—		87,103		—
Investment securities		7,077,128		6,739,567		201,569		6,528,109		9,889
Loans held for sale		287,043		287,043		—		287,043		—
Loans, net of allowance for credit losses		33,080,211		31,879,975		—		—		31,879,975
Accrued interest receivable		165,533		165,533		—		24,818		140,715
Mortgage servicing rights		83,512		83,512		—		—		83,512
SBA servicing asset		6,079		6,079		—		—		6,079
Interest rate swap – non-designated hedge		194,037		194,037		—		194,037		—
Other derivative financial instruments (mortgage banking related)		1,685		1,685		—		1,685		—
Financial liabilities:
Deposits
Noninterest-bearing		10,376,531		10,376,531		—		10,376,531		—
Interest-bearing other than time deposits		22,607,022		22,607,022		—		22,607,022		—
Time deposits		4,654,642		4,636,870		—		4,636,870		—
Federal funds purchased and securities sold under agreements to repurchase		538,322		538,322		—		538,322		—
Corporate and subordinated debentures		391,626		390,833		—		390,833		—
Other borrowings		300,000		300,000		—		300,000		—
Accrued interest payable		52,625		52,625		—		52,625		—
Interest rate swap – non-designated hedge		605,918		605,918		—		605,918		—
Other derivative financial instruments (mortgage banking related)		276		276		—		276		—
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		7,209
Changes in fair value due to valuation inputs or assumptions		(2,346)
Changes in fair value due to decay		(6,515)
Fair value, September 30, 2024	$	83,512

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		1,612
Changes in fair value due to decay		(1,686)
Changes in fair value due to valuation inputs or assumptions		201
Fair value, September 30, 2024	$	6,079