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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 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 December 31, 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$226.9 $— $226.9 $— 
State, county, and municipal securities212.0 — 212.0 — 
Obligations of U.S. government agencies213.3 — 213.3 — 
U.S. agency commercial mortgage-backed securities982.8 — 982.8 — 
U.S. agency residential mortgage-backed securities1,175.8 — 1,175.8 — 
U.S. agency collateralized mortgage obligations1,050.9 — 1,050.9 — 
Private mortgage-backed securities190.5 — 190.5 — 
Collateralized loan obligations772.0 — 772.0 — 
Corporate securities232.9 — 232.9 — 
Loans held for sale0.9 — 0.9 — 
Derivative assets:
Interest rate swap contracts44.9 — 44.9 — 
Derivative liabilities:
Interest rate collars1.0 — 1.0 — 
Interest rate swap contracts132.8 — 132.8 — 
Deferred compensation plan assets22.7 22.7 — — 
Deferred compensation plan liabilities22.7 22.7 — — 
 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 securities
1,366.9 — 1,366.9 — 
U.S. agency 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 December 31, 2024BalanceQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Collateral-dependent loans$97.6 $— $— $97.6 

  Fair Value Measurements at Reporting Date Using
As of December 31, 2023BalanceQuoted 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:
As of December 31, 2024Fair ValueValuation TechniqueUnobservable InputsRange (Weighted Average)
Collateral-dependent loans$97.6 AppraisalAppraisal adjustment—%-87%(40%)
As of December 31, 2023
Collateral-dependent loans$52.6 AppraisalAppraisal adjustment0%-100%(36%)
Loans held for sale46.9 Fair value of collateralDiscount for type of property, age of appraisal, and current status5%23%(14%)
Other real estate owned16.5 AppraisalAppraisal adjustment10%-43%(48%)
Long-lived assets to be disposed of by sale1.0 AppraisalAppraisal adjustment0%-0%0%
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 December 31, 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$896.6 $896.6 $896.6 $— $— 
Investment debt securities held-to-maturity2,687.5 2,358.6 — 2,358.6 — 
Accrued interest receivable116.8 116.8 — 116.8 — 
Mortgage servicing rights, net25.7 35.4 — 35.4 — 
Net loans held for investment17,640.8 17,154.7 — — 17,154.7 
Total financial assets$21,367.4 $20,562.1 $896.6 $2,510.8 $17,154.7 
Financial liabilities:
Total deposits, excluding time deposits$20,125.1 $20,125.1 $20,125.1 $— $— 
Time deposits2,890.5 2,875.5 — 2,875.5 — 
Securities sold under repurchase agreements523.9 523.9 — 523.9 — 
Other borrowed funds1,567.5 1,567.5 — 1,567.5 — 
Accrued interest payable47.0 47.0 — 47.0 — 
Long-term debt132.2 131.9 — 131.9 — 
Subordinated debentures held by subsidiary trusts163.1 152.3 — 152.3 — 
Total financial liabilities$25,449.3 $25,423.2 $20,125.1 $5,298.1 $— 
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 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 — 
Net loans held for investment18,051.9 17,334.4 — 17,281.8 52.6 
Total financial assets$21,995.2 $20,954.3 $578.0 $20,323.7 $52.6 
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 — 
Total financial liabilities$27,044.9 $26,999.5 $20,313.2 $6,686.3 $—