XML 48 R37.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis
Financial assets and financial liabilities measured at fair value on a recurring basis are as follows:
 Fair Value Measurements at Reporting Date Using
As of June 30, 2024Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Investment debt securities available-for-sale:    
U.S. Treasury notes$222.9 $—$222.9 $—
State, county, and municipal securities213.0 —213.0 —
Obligations of U.S. government agencies162.9 —162.9 —
U.S. agency commercial mortgage-backed securities1,107.7 —1,107.7 —
U.S. agency residential mortgage-backed securities1,267.2 —1,267.2 —
Collateralized mortgage obligations1,124.6 —1,124.6 —
Private mortgage-backed securities198.4 —198.4 —
Collateralized loan obligations1,068.6 —1,068.6 —
Corporate securities237.8 —237.8 —
Loans held for sale3.1 —3.1 —
Derivative assets:
Interest rate swap contracts45.0 —45.0 —
Derivative liabilities:
Interest rate collars4.0 —4.0 —
Interest rate swap contracts153.2 —153.2 —
Deferred compensation plan assets20.6 —20.6 —
Deferred compensation plan liabilities20.6 —20.6 —
 Fair Value Measurements at Reporting Date Using
As of December 31, 2023Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Investment debt securities available-for-sale:    
U.S. Treasury notes$224.7 $—$224.7 $—
State, county and municipal securities219.8 —219.8 —
Obligations of U.S. government agencies168.5 —168.5 —
U.S. agency commercial mortgage-backed securities1,105.6 —1,105.6 —
U.S. agency residential mortgage-backed securities1,366.9 —1,366.9 —
Collateralized mortgage obligations1,189.5 —1,189.5 —
Private mortgage-backed securities210.4 —210.4 —
Collateralized loan obligations1,119.7 —1,119.7 —
Corporate securities236.4 —236.4 —
Loans held for sale0.5 —0.5 —
Derivative assets:
Interest rate swap contracts37.3 —37.3 —
Forward loan sales contracts0.1 —0.1 —
Derivative liabilities
Interest rate collars3.6 —3.6 —
Interest rate swap contracts123.5 —123.5 —
Risk participation agreements0.1 —0.1 —
Forward loan sales contracts0.1 —0.1 —
Deferred compensation plan assets19.2 —19.2 —
Deferred compensation plan liabilities19.2 —19.2 —
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Non-Recurring Basis The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis:
 Fair Value Measurements at Reporting Date Using
As of June 30, 2024Fair ValueQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Collateral-dependent loans$103.9 $—$—$103.9 
Loans held for sale19.2 ——19.2 
Other real estate owned6.7 ——6.7 
Long-lived assets to be disposed of by sale1.0 ——1.0 
 Fair Value Measurements at Reporting Date Using
As of December 31, 2023Fair ValueQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Collateral-dependent loans$52.6 $—$—$52.6 
Loans held for sale46.9 ——46.9 
Other real estate owned16.5 ——16.5 
Long-lived assets to be disposed of by sale1.0 ——1.0 
Fair Value Inputs, Assets, Quantitative Information
The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair values:
Fair Value As of
June 30, 2024December 31, 2023Valuation
Technique		Unobservable
Inputs		Range
(Weighted Average)
Collateral-dependent loans$103.9 $52.6 AppraisalAppraisal adjustment0%-85%(41%)
Loans held for sale19.2 46.9 Fair value of collateralDiscount for type of property, age of appraisal, and current status0-28(24)
Other real estate owned6.7 16.5 AppraisalAppraisal adjustment19-90(43)
Long-lived assets to be disposed of by sale1.0 1.0 AppraisalAppraisal adjustment0-00
Fair Value, by Balance Sheet Grouping
The estimated fair values of financial instruments that are reported in the Company’s consolidated balance sheets, and are segregated by the level of the valuation inputs within the fair value hierarchy that are utilized to measure fair value, are as follows:
 Fair Value Measurements at Reporting Date Using
As of June 30, 2024Carrying AmountEstimated
Fair Value		Quoted Prices in Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial assets:
Cash and cash equivalents$958.5 $958.5 $958.5 $— $— 
Investment debt securities available-for-sale5,603.1 5,603.1 — 5,603.1 — 
Investment debt securities held-to-maturity2,798.5 2,440.4 — 2,440.4 — 
Accrued interest receivable126.4 126.4 — 126.4 — 
Mortgage servicing rights, net27.0 38.9 — 38.9 — 
Loans held for sale22.3 22.3 — 3.1 19.2 
Net loans held for investment18,002.2 17,259.6 — 17,155.7 103.9 
Derivative assets45.0 45.0 — 45.0 — 
Deferred compensation plan assets20.6 20.6 — 20.6 — 
Total financial assets$27,603.6 $26,514.8 $958.5 $25,433.2 $123.1 
Financial liabilities:
Total deposits, excluding time deposits$20,029.9 $20,029.9 $20,029.9 $— $— 
Time deposits2,840.8 2,814.2 — 2,814.2 — 
Securities sold under repurchase agreements741.8 741.8 — 741.8 — 
Other borrowed funds2,430.0 2,430.0 — 2,430.0 — 
Accrued interest payable71.1 71.1 — 71.1 — 
Long-term debt383.4 380.7 — 380.7 — 
Subordinated debentures held by subsidiary trusts163.1 153.9 — 153.9 — 
Derivative liabilities157.2 157.2 — 157.2 — 
Deferred compensation plan liabilities20.6 20.6 — 20.6 — 
Total financial liabilities$26,837.9 $26,799.4 $20,029.9 $6,769.5 $— 
 Fair Value Measurements at Reporting Date Using
As of December 31, 2023Carrying AmountEstimated
Fair Value		Quoted Prices in Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial assets:
Cash and cash equivalents$578.0 $578.0 $578.0 $— $— 
Investment debt securities available-for-sale5,841.5 5,841.5 — 5,841.5 — 
Investment debt securities held-to-maturity3,207.9 2,874.0 — 2,874.0 — 
Accrued interest receivable129.1 129.1 — 129.1 — 
Mortgage servicing rights, net28.3 38.8 — 38.8 — 
Loans held for sale47.4 47.4 — 0.5 46.9 
Net loans held for investment18,051.9 17,334.4 — 17,281.8 52.6 
Derivative assets37.4 37.4 — 37.4 — 
Deferred compensation plan assets19.2 19.2 — 19.2 — 
Total financial assets$27,940.7 $26,899.8 $578.0 $26,222.3 $99.5 
Financial liabilities:
Total deposits, excluding time deposits$20,313.2 $20,313.2 $20,313.2 $— $— 
Time deposits3,009.9 2,981.7 — 2,981.7 — 
Securities sold under repurchase agreements782.7 782.7 — 782.7 — 
Other borrowed funds2,603.0 2,603.0 — 2,603.0 — 
Accrued interest payable52.2 52.2 — 52.2 — 
Long-term debt120.8 115.6 — 115.6 — 
Subordinated debentures held by subsidiary trusts163.1 151.1 — 151.1 — 
Derivative liabilities127.3 127.3 — 127.3 — 
Deferred compensation plan liabilities19.2 19.2 — 19.2 — 
Total financial liabilities$27,191.4 $27,146.0 $20,313.2 $6,832.8 $—