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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Estimated Fair Values and Carrying Amounts of Financial Instruments
The carrying amount and estimated fair values of the Company's financial instruments, as well as the level within the fair value hierarchy, are included in the tables below. See Note 1, Summary of Significant Accounting Policies, for a description of how fair value measurements are determined.
 
 
December 31, 2019
(in thousands)
 
Carrying  Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
Measurement Category
 
 
 
 
 
 
 
 
 
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
 
Securities available for sale
$
3,933,360

 
$
3,933,360

 
$
—

 
$
3,933,360

 
$
—

 
Mortgage loans held for sale
213,357

 
213,357

 
—

 
213,357

 
—

 
Mortgage loans held for investment, at fair value option
2,792

 
2,792

 
—

 
—

 
2,792

 
Derivative instruments
104,151

 
104,151

 
—

 
104,151

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities

 

 

 

 
 
 
Derivative instruments
11,799

 
11,799

 
—

 
11,799

 
—

 
 
 
 
 
 
 
 
 
 
 
Amortized Cost
 
 
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
894,723

 
$
894,723

 
$
894,723

 
$
—

 
$
—

 
Securities held to maturity
182,961

 
189,899

 
—

 
189,899

 
—

 
Loans and leases, carried at amortized cost, net of unearned income and allowance for loan and lease losses
23,874,911

 
23,732,650

 
—

 
—

 
23,732,650

 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
25,219,349

 
25,229,566

 
—

 
25,229,566

 
—

 
Short-term borrowings
204,208

 
204,208

 
204,208

 
—

 
—

 
Long-term debt
1,343,687

 
1,296,696

 
—

 
—

 
1,296,696



 
 
December 31, 2018
(in thousands)
 
Carrying Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
Measurement Category
 
 
 
 
 
 
 
 
 
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
 
Securities available for sale
$
4,783,579

 
$
4,783,579

 
$
—

 
$
4,783,579

 
$
—

 
Mortgage loans held for sale
107,734

 
107,734

 
—

 
107,734

 
—

 
Mortgage loans held for investment, at fair value option
3,143

 
3,143

 
—

 
—

 
3,143

 
Derivative instruments
27,048

 
27,048

 
—

 
27,048

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
 
Derivative instruments
22,124

 
22,124

 
—

 
22,124

 
—

 
 
 
 
 
 
 
 
 
 
 
Amortized Cost
 
 
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
690,453

 
$
690,453

 
$
690,453

 
$
—

 
$
—

 
Securities held to maturity
207,446

 
204,277

 
—

 
204,277

 
—

 
Loans and leases, carried at amortized cost, net of unearned income and allowance for loan and lease losses
22,376,101

 
22,088,236

 
—

 
—

 
22,088,236

 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
23,763,431

 
23,752,139

 
—

 
23,752,139

 
—

 
Short-term borrowings
1,482,882

 
1,482,882

 
315,882

 
1,167,000

 
—

 
Long-term debt
1,166,151

 
1,154,062

 
—

 
—

 
1,154,062