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FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables present financial instruments carried at fair value as of December 31, 2023 and December 31, 2022 by level in the valuation hierarchy (as described above):
 
December 31, 2023
(Dollars in thousands)
Quoted Prices in Active Markets
for Identical Asset (Level 1)
Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $464,619 $— $464,619 
FNMA MBS— 3,042,350 — 3,042,350 
FHLMC MBS— 115,532 — 115,532 
GNMA MBS— 43,340 — 43,340 
GSE agency notes— 180,696 — 180,696 
Other assets— 153,569 78 153,647 
Total assets measured at fair value on a recurring basis$— $4,000,106 $78 $4,000,184 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $137,616 $14,026 $151,642 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $17,434 $17,434 
Other real estate owned— — 1,569 1,569 
Loans held for sale— 29,268 — 29,268 
Total assets measured at fair value on a nonrecurring basis$— $29,268 $19,003 $48,271 
December 31, 2022
(Dollars in thousands)Quoted Prices in Active Markets
for Identical Asset (Level 1)		Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $506,380 $— $506,380 
FNMA MBS— 3,250,258 — 3,250,258 
FHLMC MBS— 121,999 — 121,999 
GNMA MBS— 36,138 — 36,138 
GSE agency notes— 178,285 — 178,285 
Other assets— 156,912 81 156,993 
Total assets measured at fair value on a recurring basis$— $4,249,972 $81 $4,250,053 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $156,520 $17,102 $173,622 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $26,120 $26,120 
Other real estate owned— — 833 833 
Loans held for sale— 42,985 — 42,985 
Total assets measured at fair value on a nonrecurring basis$— $42,985 $26,953 $69,938 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following table provides a description of the valuation techniques and significant unobservable inputs for the Company's financial instruments classified as Level 3 as of December 31, 2023 and December 31, 2022:
(Dollars in thousands)December 31, 2023
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange (Weighted Average)
Other investments$17,434 Observed market comparable transactionsPeriod of observed transactions
December 2023
Other real estate owned1,569 Fair market value of collateralCosts to sell
10.0%-20.0% (18.1%)
Other assets (Risk participation agreements purchased)78 Credit Value AdjustmentCDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (195 bps)
LGD: –% - 30% (30%)
Other liabilities (Risk participation agreements sold)3 Credit Value AdjustmentCDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (95 bps)
LGD: 30%
Other liabilities14,023 Discounted cash flowTiming of Visa litigation resolution
1.00 - 4.75 years (3.06 years or 4Q 2025)
(Dollars in thousands)December 31, 2022
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$26,120 Observed market comparable transactionsPeriod of observed transactionsMay 2022
Other real estate owned833 Fair market value of collateralCosts to sell
10.0%
Other assets (Risk participation agreements purchased)81
Credit Value Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 250 bps (205 bps)
LGD: –% - 30% (30%)
Other liabilities (Risk participation agreements sold)2 
Credit Value Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (158 bps)
LGD: 30%
Other liabilities (Financial derivative related to
sales of certain Visa Class B shares)		17,100 Discounted cash flowTiming of Visa litigation resolution
1.00 - 5.75 years (3.61 years or 4Q 2025)
Book Value and Estimated Fair Value of Financial Instruments
The book value and estimated fair value of the Company's financial instruments are as follows:
 
December 31,
Fair Value
Measurement
20232022
(Dollars in thousands)Book ValueFair ValueBook ValueFair Value
Financial assets:
Cash, cash equivalents and restricted cashLevel 1$1,092,900 $1,092,900 $837,258 $837,258 
Investment securities, available for saleLevel 23,846,537 3,846,537 4,093,060 4,093,060 
Investment securities, held to maturity, netLevel 21,058,557 985,931 1,111,619 1,040,104 
Other investmentsLevel 317,434 17,434 26,120 26,120 
Loans, held for saleLevel 229,268 29,268 42,985 42,985 
Loans and leases, net(1)
Level 312,583,202 12,514,431 11,759,992 11,567,888 
Stock in FHLB of PittsburghLevel 215,398 15,398 24,116 24,116 
Accrued interest receivableLevel 285,979 85,979 74,448 74,448 
Other assetsLevels 2, 3153,647 153,647 156,993 156,993 
Financial liabilities:
DepositsLevel 2$16,474,086 $16,449,198 $16,203,569 $16,156,124 
Borrowed fundsLevel 2895,076 912,760 726,894 709,014 
Standby letters of creditLevel 3814 814 739 739 
Accrued interest payableLevel 246,684 46,684 5,174 5,174 
Other liabilitiesLevels 2, 3151,642 151,642 173,622 173,622 
(1)Includes reverse mortgage loans.