FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis at June 30, 2022 and December 31, 2021 (dollars in thousands):

	Fair Value Measurements at June 30, 2022 using
			Significant
	Quoted Prices in		Other		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	Level 1		Level 2		Level 3		Balance
ASSETS
AFS securities:
U.S. government and agency securities	$	58,817	$	6,923	$	—	$	65,740
Obligations of states and political subdivisions		—		822,427		—		822,427
Corporate and other bonds(1)		—		177,892		—		177,892
MBS		—		1,883,713		—		1,883,713
Other securities		—		1,649		—		1,649
LHFS		—		15,866		—		15,866
Derivatives:
Interest rate contracts		—		34,354		—		34,354
Fair value hedges		—		1,171		—		1,171
LIABILITIES
Derivatives:
Interest rate contracts	$	—	$	146,260	$	—	$	146,260
Fair value hedges		—		37		—		37

⁽¹⁾ Other bonds include asset-backed securities.

	Fair Value Measurements at December 31, 2021 using
			Significant
	Quoted Prices in		Other		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	Level 1		Level 2		Level 3		Balance
ASSETS
AFS securities:
U.S. government and agency securities	$	64,474	$	9,375	$	—	$	73,849
Obligations of states and political subdivisions		—		1,008,396		—		1,008,396
Corporate and other bonds(1)		—		153,376		—		153,376
MBS		—		2,244,389		—		2,244,389
Other securities		—		1,640		—		1,640
LHFS		—		20,861		—		20,861
Derivatives:
Interest rate contracts		—		73,696		—		73,696
LIABILITIES
Derivatives:
Interest rate contracts	$	—	$	49,051	$	—	$	49,051
Fair value hedges		—		5,387		—		5,387

⁽¹⁾ Other bonds include asset-backed securities.

Carrying Values and Estimated Fair Values of the Company's Financial Instruments

The carrying values and estimated fair values of the Company’s financial instruments at June 30, 2022 and December 31, 2021 are as follows (dollars in thousands):

	Fair Value Measurements at June 30, 2022 using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable		Total Fair
			Identical Assets		Inputs		Inputs		Value
	Carrying
	Value		Level 1		Level 2		Level 3		Balance
ASSETS
Cash and cash equivalents	$	241,376	$	241,376	$	—	$	—	$	241,376
AFS securities		2,951,421		58,817		2,892,604		—		2,951,421
HTM securities		780,749		—		738,397		4,822		743,219
Restricted stock		87,908		—		87,908		—		87,908
LHFS		15,866		—		15,866		—		15,866
Net loans		13,551,224		—		—		13,058,756		13,058,756
Derivatives:
Interest rate contracts		34,354		—		34,354		—		34,354
Fair value hedges		1,171		—		1,171		—		1,171
Accrued interest receivable		67,231		—		67,231		—		67,231
BOLI		436,703		—		436,703		—		436,703
LIABILITIES
Deposits	$	16,128,635	$	—	$	16,142,580	$	—	$	16,142,580
Borrowings		797,948		—		466,601		—		466,601
Accrued interest payable		1,349		—		1,349		—		1,349
Derivatives:
Interest rate contracts		146,260		—		146,260		—		146,260
Fair value hedges		37		—		37		—		37

	Fair Value Measurements at December 31, 2021 using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable		Total Fair
			Identical Assets		Inputs		Inputs		Value
	Carrying
	Value		Level 1		Level 2		Level 3		Balance
ASSETS
Cash and cash equivalents	$	802,501	$	802,501	$	—	$	—	$	802,501
AFS securities		3,481,650		64,474		3,417,176		—		3,481,650
HTM securities		628,000		—		686,733		7,041		693,774
Restricted stock		76,825		—		76,825		—		76,825
LHFS		20,861		—		20,861		—		20,861
Net loans		13,096,056		—		—		12,861,274		12,861,274
Derivatives:
Interest rate contracts		73,696		—		73,696		—		73,696
Accrued interest receivable		65,015		—		65,015		—		65,015
BOLI		431,517		—		431,517		—		431,517
LIABILITIES
Deposits	$	16,611,068	$	—	$	16,630,087	$	—	$	16,630,087
Borrowings		506,594		—		488,796		—		488,796
Accrued interest payable		933		—		933		—		933
Derivatives:
Interest rate contracts		49,051		—		49,051		—		49,051
Fair value hedges		5,387		—		5,387		—		5,387