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Estimated Fair Values (Tables) | 3 Months Ended
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Mar. 31, 2019
Fair Value Disclosures [Abstract] |
Estimated Fair Values For Certain Financial Assets And Financial Liabilities | The table presents the carrying values and estimated fair values for financial instruments as of March 31, 2019 and December 31, 2018.
(Dollars in thousands) | March 31, 2019 |  | December 31, 2018
Carrying value |  | Fair value |  | Carrying value |  | Fair value
Cash and due from banks | $ | 268,599 |  |  | $ | 268,599 |  |  | $ | 327,440 |  |  | $ | 327,440 |
Overnight investments | 1,386,525 |  |  | 1,386,525 |  |  | 797,406 |  |  | 797,406 |
Investment securities available for sale | 4,589,800 |  |  | 4,589,800 |  |  | 4,557,110 |  |  | 4,557,110 |
Investment securities held to maturity | 2,214,829 |  |  | 2,254,924 |  |  | 2,184,653 |  |  | 2,201,502 |
Investment in marketable equity securities | 109,884 |  |  | 109,884 |  |  | 92,599 |  |  | 92,599 |
Loans held for sale | 53,232 |  |  | 53,232 |  |  | 45,505 |  |  | 45,505 |
Net loans and leases | 25,235,010 |  |  | 25,187,938 |  |  | 25,299,564 |  |  | 24,845,060 |
Income earned not collected | 113,812 |  |  | 113,812 |  |  | 109,903 |  |  | 109,903 |
Federal Home Loan Bank stock | 25,174 |  |  | 25,174 |  |  | 25,304 |  |  | 25,304 |
Mortgage and other servicing rights | 24,080 |  |  | 25,769 |  |  | 24,615 |  |  | 27,435 |
Deposits | 31,198,093 |  |  | 31,174,142 |  |  | 30,672,460 |  |  | 30,623,214 |
Securities sold under customer repurchase agreements | 508,508 |  |  | 508,508 |  |  | 543,936 |  |  | 543,936 |
Federal Home Loan Bank borrowings | 189,594 |  |  | 192,779 |  |  | 193,556 |  |  | 195,374 |
Subordinated debentures | 136,544 |  |  | 140,676 |  |  | 140,741 |  |  | 151,670 |
Other borrowings | 14,970 |  |  | 14,833 |  |  | 13,921 |  |  | 13,985 |
FDIC shared-loss payable | 107,256 |  |  | 109,947 |  |  | 105,618 |  |  | 105,846 |
Accrued interest payable | 7,169 |  |  | 7,169 |  |  | 3,712 |  |  | 3,712 |
Assets And Liabilities Carried At Fair Value On A Recurring Basis | For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of March 31, 2019 and December 31, 2018.
| March 31, 2019
|  |  | Fair value measurements using:
(Dollars in thousands) | Fair value |  | Level 1 inputs |  | Level 2 inputs |  | Level 3 inputs
Assets measured at fair value |  |  |  |  |  |  |
Investment securities available for sale |  |  |  |  |  |  |
U.S. Treasury | $ | 1,197,042 |  |  | $ | — |  |  | $ | 1,197,042 |  |  | $ | — |
Government agency | 350,527 |  |  | — |  |  | 350,527 |  |  | — |
Mortgage-backed securities | 2,895,944 |  |  | — |  |  | 2,895,944 |  |  | — |
Corporate bonds | 142,162 |  |  | — |  |  | — |  |  | 142,162 |
Other | 4,125 |  |  | — |  |  | — |  |  | 4,125 |
Total investment securities available for sale | $ | 4,589,800 |  |  | $ | — |  |  | $ | 4,443,513 |  |  | $ | 146,287 |
Marketable equity securities | $ | 109,884 |  |  | $ | 18,250 |  |  | $ | 91,634 |  |  | $ | — |
Loans held for sale | $ | 53,232 |  |  | $ | — |  |  | $ | 53,232 |  |  | $ | — |
| December 31, 2018
|  |  | Fair value measurements using:
| Fair value |  | Level 1 inputs |  | Level 2 inputs |  | Level 3 inputs
Assets measured at fair value |  |  |  |  |  |  |
Investment securities available for sale |  |  |  |  |  |  |
U.S. Treasury | $ | 1,247,710 |  |  | $ | — |  |  | $ | 1,247,710 |  |  | $ | — |
Government agency | 256,835 |  |  | — |  |  | 256,835 |  |  | — |
Mortgage-backed securities | 2,909,339 |  |  | — |  |  | 2,909,339 |  |  | — |
Corporate bonds | 139,101 |  |  | — |  |  | — |  |  | 139,101 |
Other | 4,125 |  |  | — |  |  | — |  |  | 4,125 |
Total investment securities available for sale | $ | 4,557,110 |  |  | $ | — |  |  | $ | 4,413,884 |  |  | $ | 143,226 |
Marketable equity securities | $ | 92,599 |  |  | $ | 17,887 |  |  | $ | 74,712 |  |  | $ | — |
Loans held for sale | $ | 45,505 |  |  | $ | — |  |  | $ | 45,505 |  |  | $ | — |
Fair Value of Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables summarize activity for Level 3 assets:
| Three months ended March 31, 2019
(Dollars in thousands) | Corporate bonds |  | Other
Balance at January 1, 2019 | $ | 139,101 |  |  | $ | 4,125 |
Transfers in | — |  |  | — |
Amounts included in net income | 39 |  |  | 6 |
Unrealized net gains (losses) included in other comprehensive income | 22 |  |  | (6 | )
Purchases | 3,000 |  |  | — |
Sales / Calls | — |  |  | — |
Balance at March 31, 2019 | $ | 142,162 |  |  | $ | 4,125 |
Fair Value Level 3 Significant Unobservable Input Assumptions |
(Dollars in thousands) |  |  |  | March 31, 2019
Level 3 assets |  | Valuation technique |  | Significant unobservable input |  | Fair Value
Corporate bonds |  | Indicative bid provided by broker |  | Multiple factors, including but not limited to, current operations, financial condition, cash flows, and recently executed financing transactions related to the company |  | $ | 142,162 |
Other |  | Indicative bid provided by broker |  | Multiple factors, including but not limited to, current operations, financial condition, cash flows, and recently executed financing transactions related to the company |  | 4,125 |
Fair Value Option | The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential real estate originated for sale measured at fair value as of March 31, 2019 and December 31, 2018.
| March 31, 2019
(Dollars in thousands) | Fair Value |  | Aggregate Unpaid Principal Balance |  | Difference
Originated loans held for sale | $ | 53,232 |  |  | $ | 51,550 |  |  | $ | 1,682 |
| December 31, 2018
| Fair Value |  | Aggregate Unpaid Principal Balance |  | Difference
Originated loans held for sale | $ | 45,505 |  |  | $ | 44,073 |  |  | $ | 1,432 |
No originated loans held for sale were 90 or more days past due or on nonaccrual status as of March 31, 2019 or December 31, 2018. We may be required to measure certain financial assets at fair value on a nonrecurring basis. These adjustments to fair value usually result from the application of lower of amortized cost or fair value accounting or write-downs of individual assets due to impairment. Impaired loans are deemed to be at fair value if an associated allowance or current period charge-off has been recorded. The value of impaired loans is determined by either collateral valuations or discounted present value of the expected cash flow calculations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 6% and 11% applied for estimated selling costs and other external factors that may impact the marketability of the property. Expected cash flows are determined using expected payment information at the individual loan level, discounted using the effective interest rate. The effective interest rate generally ranges between 2% and 18%. OREO acquired or written down within the previous 12 months is deemed to be at fair value. Asset valuations are determined by using appraisals or other third-party value estimates of the subject property with discounts generally between 6% and 11% applied for estimated selling costs and other external factors that may impact the marketability of the property. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. If there are any significant changes in the market or the subject property, valuations are adjusted or new appraisals ordered to ensure the reported values reflect the most current information.
Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis | For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of March 31, 2019 and December 31, 2018.
| March 31, 2019
|  |  | Fair value measurements using:
(Dollars in thousands) | Fair value |  | Level 1 inputs |  | Level 2 inputs |  | Level 3 inputs
Impaired loans | $ | 110,411 |  |  | $ | — |  |  | $ | — |  |  | $ | 110,411 |
Other real estate remeasured during the previous 12 months | 32,620 |  |  | — |  |  | — |  |  | 32,620 |
| December 31, 2018
|  |  | Fair value measurements using:
| Fair value |  | Level 1 inputs |  | Level 2 inputs |  | Level 3 inputs
Impaired loans | $ | 105,994 |  |  | $ | — |  |  | $ | — |  |  | $ | 105,994 |
Other real estate remeasured during the previous 12 months | 35,344 |  |  | — |  |  | — |  |  | 35,344 |

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