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Fair Value (Tables) | 3 Months Ended
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Mar. 31, 2021
Fair Value |
Schedule of recorded amount of assets and liabilities measured at fair value on a recurring basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | ​ | ​ |  | Quoted Prices |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | In Active | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Markets | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
(Dollars in thousands) | ​ | Fair Value | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
March 31, 2021: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments | ​ | $ | 416,329 | ​ | $ | — | ​ | $ | 416,329 | ​ | $ | —
Loans held for sale | ​ |  | 352,997 | ​ |  | — | ​ |  | 352,997 | ​ |  | —
Trading securities | ​ |  | 83,947 | ​ |  | — | ​ |  | 83,947 | ​ |  | —
Securities available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government agencies | ​ | ​ | 23,553 | ​ | ​ | — | ​ | ​ | 23,553 | ​ | ​ | —
Residential mortgage-backed securities issued by U.S. government | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
agencies or sponsored enterprises | ​ | ​ | 1,544,600 | ​ | ​ | — | ​ | ​ | 1,544,600 | ​ | ​ | —
Residential collateralized mortgage-obligations issued by U.S. government | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
agencies or sponsored enterprises | ​ | ​ | 694,632 | ​ | ​ | — | ​ | ​ | 694,632 | ​ | ​ | —
Commercial mortgage-backed securities issued by U.S. government | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
agencies or sponsored enterprises | ​ | ​ | 580,379 | ​ | ​ | — | ​ | ​ | 580,379 | ​ | ​ | —
State and municipal obligations | ​ |  | 596,103 | ​ |  | — | ​ |  | 596,103 | ​ |  | —
Small Business Administration loan-backed securities | ​ |  | 438,537 | ​ |  | — | ​ |  | 438,537 | ​ |  | —
Corporate securities | ​ | ​ | 13,686 | ​ | ​ | — | ​ | ​ | 13,686 | ​ | ​ | —
Total securities available for sale | ​ |  | 3,891,490 | ​ |  | — | ​ |  | 3,891,490 | ​ |  | —
Mortgage servicing rights | ​ |  | 54,285 | ​ |  | — | ​ |  | — | ​ |  | 54,285
​ | ​ | $ | 4,799,048 | ​ | $ | — | ​ | $ | 4,744,763 | ​ | $ | 54,285
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments | ​ | $ | 402,256 | ​ | $ | — | ​ | $ | 402,256 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2020: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments | ​ | $ | 813,899 | ​ | $ | — | ​ | $ | 813,899 | ​ | $ | —
Loans held for sale | ​ |  | 290,467 | ​ |  | — | ​ |  | 290,467 | ​ |  | —
Trading securities | ​ |  | 10,674 | ​ |  | — | ​ |  | 10,674 | ​ |  | —
Securities available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government agencies | ​ | ​ | 29,256 | ​ | ​ | — | ​ | ​ | 29,256 | ​ | ​ | —
Residential mortgage-backed securities issued by U.S. government | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
agencies or sponsored enterprises | ​ | ​ | 1,379,978 | ​ | ​ | — | ​ | ​ | 1,379,978 | ​ | ​ | —
Residential collateralized mortgage-obligations issued by U.S. government | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
agencies or sponsored enterprises | ​ | ​ | 650,646 | ​ | ​ | — | ​ | ​ | 650,646 | ​ | ​ | —
Commercial mortgage-backed securities issued by U.S. government | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
agencies or sponsored enterprises | ​ | ​ | 334,834 | ​ | ​ | — | ​ | ​ | 334,834 | ​ | ​ | —
State and municipal obligations | ​ |  | 520,039 | ​ |  | — | ​ |  | 520,039 | ​ |  | —
Small Business Administration loan-backed securities | ​ |  | 402,217 | ​ |  | — | ​ |  | 402,217 | ​ |  | —
Corporate securities | ​ |  | 13,702 | ​ |  | — | ​ |  | 13,702 | ​ |  | —
Total securities available for sale | ​ |  | 3,330,672 | ​ |  | — | ​ |  | 3,330,672 | ​ |  | —
Mortgage servicing rights | ​ |  | 43,820 | ​ |  | — | ​ |  | — | ​ |  | 43,820
​ | ​ | $ | 4,489,532 | ​ | $ | — | ​ | $ | 4,445,712 | ​ | $ | 43,820
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments | ​ | $ | 804,832 | ​ | $ | — | ​ | $ | 804,832 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of reconciliation of the beginning and ending balances of Level 3 assets and liabilities recorded at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) |  | Assets |  | Liabilities |
Fair value, January 1, 2021 | ​ | $ | 43,820 | ​ | $ | — | ​
Servicing assets that resulted from transfers of financial assets | ​ |  | 6,950 | ​ |  | — | ​
Changes in fair value due to valuation inputs or assumptions | ​ |  | 6,575 | ​ |  | — | ​
Changes in fair value due to decay | ​ |  | (3,060) | ​ |  | — | ​
Fair value , March 31, 2021 | ​ | $ | 54,285 | ​ | $ | — | ​
Schedule of amounts of assets and liabilities measured at fair value on a nonrecurring basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a nonrecurring basis:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices |  | ​ | ​ |  | ​ | ​ |
​ | ​ | ​ | ​ | ​ | In Active | ​ | Significant | ​ | ​ | ​ |
​ | ​ | ​ | ​ | ​ | Markets | ​ | Other | ​ | Significant |
​ | ​ | ​ | ​ | ​ | for Identical | ​ | Observable | ​ | Unobservable |
​ | ​ | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs |
(Dollars in thousands) | ​ | Fair Value | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) |
March 31, 2021: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OREO | ​ | $ | 11,471 | ​ | $ | — | ​ | $ | — | ​ | $ | 11,471 | ​
Bank property held for sale | ​ | ​ | 31,193 | ​ | ​ | — | ​ |  | — | ​ | ​ | 31,193 | ​
Impaired loans | ​ |  | 8,764 | ​ |  | — | ​ |  | — | ​ |  | 8,764 | ​
December 31, 2020: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OREO | ​ | $ | 11,914 | ​ | $ | — | ​ | $ | — | ​ | $ | 11,914 | ​
Bank property held for sale | ​ | ​ | 36,006 | ​ | ​ | — | ​ |  | — | ​ | ​ | 36,006 | ​
Impaired loans | ​ |  | 17,609 | ​ |  | — | ​ |  | — | ​ |  | 17,609 | ​
Quantitative Information about Level 3 Fair Value Measurements | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Weighted Average
​ | ​ | ​ | ​ | ​ | ​ | March 31, | ​ | December 31,
​ |  | Valuation Technique |  | Unobservable Input |  | 2021 |  | 2020
Nonrecurring measurements: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans |  | Discounted appraisals and discounted cash flows |  | Collateral discounts | ​ | 13 | % | ​ | 5 | %
OREO and premises held for sale |  | Discounted appraisals |  | Collateral discounts and estimated costs to sell | ​ | 13 | % | ​ | 14 | %
Schedule of estimated fair value, and related carrying amount, of the Company's financial instruments | The estimated fair value, and related carrying amount, of our financial instruments are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Carrying |  | Fair |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
(Dollars in thousands) | ​ | Amount | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 |
March 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 5,974,137 | ​ | $ | 5,974,137 | ​ | $ | 5,974,137 | ​ | $ | — | ​ | $ | — | ​
Trading securities | ​ | ​ | 83,947 | ​ | ​ | 83,947 | ​ | ​ | — | ​ | ​ | 83,947 | ​ | ​ | — | ​
Investment securities | ​ |  | 5,267,271 | ​ |  | 5,233,723 | ​ |  | 161,468 | ​ |  | 5,072,255 | ​ |  | — | ​
Loans held for sale | ​ | ​ | 352,997 | ​ | ​ | 352,997 | ​ | ​ | — | ​ | ​ | 352,997 | ​ | ​ | — | ​
Loans, net of allowance for loan losses | ​ |  | 24,085,005 | ​ |  | 24,421,405 | ​ |  | — | ​ |  | — | ​ |  | 24,421,405 | ​
Accrued interest receivable | ​ |  | 105,865 | ​ |  | 105,865 | ​ |  | — | ​ |  | 13,758 | ​ |  | 92,107 | ​
Mortgage servicing rights | ​ |  | 54,285 | ​ |  | 54,285 | ​ |  | — | ​ |  | — | ​ |  | 54,285 | ​
Interest rate swap - non-designated hedge | ​ |  | 398,221 | ​ |  | 398,221 | ​ |  | — | ​ |  | 398,221 | ​ |  | — | ​
Other derivative financial instruments (mortgage banking related) | ​ |  | 18,108 | ​ |  | 18,108 | ​ |  | — | ​ |  | 18,108 | ​ |  | — | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ |  | 32,441,410 | ​ |  | 32,458,336 | ​ |  | — | ​ |  | 32,458,336 | ​ |  | — | ​
Federal funds purchased and securities sold under agreements to repurchase | ​ |  | 878,581 | ​ |  | 878,581 | ​ |  | — | ​ |  | 878,581 | ​ |  | — | ​
Other borrowings | ​ |  | 390,323 | ​ |  | 388,127 | ​ |  | — | ​ |  | 388,127 | ​ |  | — | ​
Accrued interest payable | ​ |  | 8,498 | ​ |  | 8,498 | ​ |  | — | ​ |  | 8,498 | ​ |  | — | ​
Interest rate swap - non-designated hedge | ​ |  | 399,625 | ​ |  | 399,625 | ​ |  | — | ​ |  | 399,625 | ​ |  | — | ​
Other derivative financial instruments (mortgage banking related) | ​ |  | 2,631 | ​ |  | 2,631 | ​ |  | — | ​ |  | 2,631 | ​ |  | — | ​
Off balance sheet financial instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commitments to extend credit | ​ |  | — | ​ |  | 84,280 | ​ |  | — | ​ |  | 84,280 | ​ |  | — | ​
December 31, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 4,609,255 | ​ | $ | 4,609,255 | ​ | $ | 4,609,255 | ​ | $ | — | ​ | $ | — | ​
Trading securities | ​ | ​ | 10,674 | ​ | ​ | 10,674 | ​ | ​ | — | ​ | ​ | 10,674 | ​ | ​ | — | ​
Investment securities | ​ |  | 4,446,657 | ​ |  | 4,448,300 | ​ |  | 160,443 | ​ |  | 4,287,857 | ​ |  | — | ​
Loans held for sale | ​ | ​ | 290,467 | ​ | ​ | 290,467 | ​ | ​ | — | ​ | ​ | 290,467 | ​ | ​ | — | ​
Loans, net of allowance for loan losses | ​ |  | 24,206,825 | ​ |  | 24,757,859 | ​ |  | — | ​ |  | — | ​ |  | 24,757,859 | ​
Accrued interest receivable | ​ |  | 107,601 | ​ |  | 107,601 | ​ |  | — | ​ |  | 12,952 | ​ |  | 94,649 | ​
Mortgage servicing rights | ​ |  | 43,820 | ​ |  | 43,820 | ​ |  | — | ​ |  | — | ​ |  | 43,820 | ​
Interest rate swap - non-designated hedge | ​ |  | 802,763 | ​ |  | 802,763 | ​ |  | — | ​ |  | 802,763 | ​ |  | — | ​
Other derivative financial instruments (mortgage banking related) | ​ |  | 11,136 | ​ |  | 11,136 | ​ |  | — | ​ |  | 11,136 | ​ |  | — | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ |  | 30,693,882 | ​ |  | 30,719,416 | ​ |  | — | ​ |  | 30,719,416 | ​ |  | — | ​
Federal funds purchased and securities sold under agreements to repurchase | ​ |  | 779,666 | ​ |  | 779,666 | ​ |  | — | ​ |  | 779,666 | ​ |  | — | ​
Other borrowings | ​ |  | 390,179 | ​ |  | 386,126 | ​ |  | — | ​ |  | 386,126 | ​ |  | — | ​
Accrued interest payable | ​ |  | 7,103 | ​ |  | 7,103 | ​ |  | — | ​ |  | 7,103 | ​ |  | — | ​
Interest rate swap - non-designated hedge | ​ |  | 804,832 | ​ |  | 804,832 | ​ |  | — | ​ |  | 804,832 | ​ |  | — | ​
Off balance sheet financial instruments: | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commitments to extend credit | ​ | ​ | — | ​ |  | 136,726 | ​ |  | — | ​ |  | 136,726 | ​ |  | — | ​

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- Definition Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset or liability. + References No definition available. + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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