XML 53 R42.htm IDEA: XBRL DOCUMENT v3.26.1
Fair Value (Tables)
3 Months Ended
Mar. 31, 2026
Schedule of 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, 2026:

Assets

Derivative financial instruments

$

191,332

$

$

191,332

$

Mortgage loans held for sale

 

48,094

 

 

48,094

 

Trading securities

 

117,590

 

 

117,590

 

Securities available for sale:

Residential mortgage-backed securities issued by U.S. government

agencies or sponsored enterprises

1,849,098

1,849,098

Residential collateralized mortgage-obligations issued by U.S. government

agencies or sponsored enterprises

2,104,555

2,104,555

Commercial mortgage-backed securities issued by U.S. government

agencies or sponsored enterprises

970,311

970,311

State and municipal obligations

 

1,041,195

 

 

1,041,195

 

Small Business Administration loan-backed securities

 

543,485

 

 

543,485

 

Corporate securities

21,704

21,704

Total securities available for sale

 

6,530,348

 

 

6,530,348

 

Mortgage servicing rights

 

90,018

 

 

 

90,018

SBA servicing asset

5,176

5,176

$

6,982,558

$

$

6,887,364

$

95,194

Liabilities

Derivative financial instruments

$

562,406

$

$

562,406

$

December 31, 2025:

Assets

Derivative financial instruments

$

222,886

$

$

222,886

$

Mortgage loans held for sale

 

61,400

 

 

61,400

 

Trading securities

 

110,183

 

 

110,183

 

Securities available for sale:

Residential mortgage-backed securities issued by U.S. government

agencies or sponsored enterprises

1,698,108

1,698,108

Residential collateralized mortgage-obligations issued by U.S. government

agencies or sponsored enterprises

2,185,584

2,185,584

Commercial mortgage-backed securities issued by U.S. government

agencies or sponsored enterprises

832,449

832,449

State and municipal obligations

 

1,007,412

 

 

1,007,412

 

Small Business Administration loan-backed securities

 

568,433

 

 

568,433

 

Corporate securities

 

21,770

 

 

21,770

 

Total securities available for sale

 

6,313,756

 

 

6,313,756

 

Mortgage servicing rights

 

84,032

 

 

 

84,032

SBA servicing asset

5,512

5,512

$

6,797,769

$

$

6,708,225

$

89,544

Liabilities

Derivative financial instruments

$

554,748

$

$

554,748

$

Schedule of mortgage loans held for sale

  ​ ​ ​

March 31,

December 31,

(Dollars in thousands)

  ​ ​ ​

2026

 

2025

Fair value

$

48,094

$

61,400

Unpaid principal balance

47,102

59,371

Fair value less aggregated unpaid principal balance

$

992

$

2,029

Schedule of amounts 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, 2026:

OREO

$

26,061

$

$

$

26,061

Individually evaluated loans

268,343

 

 

 

268,343

December 31, 2025:

OREO

$

8,771

$

$

$

8,771

Individually evaluated loans

 

328,452

 

 

 

328,452

Schedule of quantitative information about level 3 fair value measurements

Weighted Average Discount

March 31,

December 31,

  ​ ​ ​

Valuation Technique

  ​ ​ ​

Unobservable Input

  ​ ​ ​

2026

  ​ ​ ​

2025

Nonrecurring measurements:

Individually evaluated loans

 

Discounted appraisals and discounted cash flows

 

Collateral discounts

19

%

19

%

OREO and Bank properties held for sale

 

Discounted appraisals

 

Collateral discounts and estimated costs to sell

9

%

2

%

Schedule of estimated fair value, and related carrying amount, of the Company's financial instruments

  ​ ​ ​

Carrying

  ​ ​ ​

Fair

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

 

(Dollars in thousands)

Amount

Value

Level 1

Level 2

Level 3

 

March 31, 2026

Financial assets:

Cash and cash equivalents

$

2,867,082

$

2,867,082

$

2,867,082

$

$

Trading securities

117,590

117,590

117,590

Investment securities

 

8,908,521

 

8,585,410

 

272,804

 

8,214,486

 

98,120

Loans held for sale

327,935

330,177

330,177

Loans, net of allowance for credit losses

 

48,910,901

 

47,966,971

 

 

 

47,966,971

Accrued interest receivable

 

239,877

 

239,877

 

 

37,007

 

202,870

Mortgage servicing rights

 

90,018

 

90,018

 

 

 

90,018

SBA servicing asset

5,176

5,176

5,176

Interest rate swap – non-designated hedge

 

189,355

 

189,355

 

 

189,355

 

Other derivative financial instruments (mortgage banking related)

 

1,977

 

1,977

 

 

1,977

 

Financial liabilities:

Deposits

 

Noninterest-bearing

13,650,799

 

13,650,799

 

 

13,650,799

 

Interest-bearing other than time deposits

34,975,162

34,975,162

34,975,162

Time deposits

7,249,702

7,234,725

7,234,725

Federal funds purchased and securities sold under agreements to repurchase

 

643,386

 

643,386

 

 

643,386

 

Corporate and subordinated debentures

696,642

676,337

 

676,337

 

Accrued interest payable

 

46,748

 

46,748

 

 

46,748

 

Interest rate swap – non-designated hedge

 

560,264

 

560,264

 

 

560,264

 

Other derivative financial instruments (mortgage banking related)

 

2,142

 

2,142

 

 

2,142

 

December 31, 2025

Financial assets:

Cash and cash equivalents

$

3,172,483

$

3,172,483

$

3,172,483

$

$

Trading securities

110,183

110,183

110,183

Investment securities

 

8,715,214

 

8,400,034

 

274,730

 

8,046,606

 

78,698

Loans held for sale

345,343

348,381

348,381

Loans, net of allowance for credit losses

 

48,013,330

 

47,378,022

 

 

 

47,378,022

Accrued interest receivable

 

233,265

 

233,265

 

 

35,302

 

197,963

Mortgage servicing rights

 

84,032

 

84,032

 

 

 

84,032

SBA servicing asset

5,512

5,512

5,512

Interest rate swap – non-designated hedge

 

221,835

 

221,835

 

 

221,835

 

Other derivative financial instruments (mortgage banking related)

 

1,051

 

1,051

 

 

1,051

 

Financial liabilities:

Deposits

 

Noninterest-bearing

13,375,697

 

13,375,697

 

 

13,375,697

 

Interest-bearing other than time deposits

34,410,867

34,410,867

34,410,867

Time deposits

7,359,233

7,347,648

7,347,648

Federal funds purchased and securities sold under agreements to repurchase

 

618,215

 

618,215

 

 

618,215

 

Corporate and subordinated debentures

 

696,536

 

683,772

 

 

683,772

 

Accrued interest payable

 

48,972

 

48,972

 

 

48,972

 

Interest rate swap – non-designated hedge

 

554,433

 

554,433

 

 

554,433

 

Other derivative financial instruments (mortgage banking related)

315

315

 

 

315

 

Mortgage Servicing Rights  
Schedule of reconciliation of the beginning and ending balances of Level 3 assets, comprised of Mortgage Servicing Rights, SBA servicing asset and liabilities recorded at fair value on a recurring basis

(Dollars in thousands)

  ​ ​ ​

MSRs

 

Fair value, January 1, 2026

$

84,032

Servicing assets that resulted from transfers of financial assets

 

1,627

Changes in fair value due to valuation inputs or assumptions

 

6,564

Changes in fair value due to decay

 

(2,205)

Fair value, March 31, 2026

$

90,018

SBA servicing asset  
Schedule of reconciliation of the beginning and ending balances of Level 3 assets, comprised of Mortgage Servicing Rights, SBA servicing asset and liabilities recorded at fair value on a recurring basis

(Dollars in thousands)

  ​ ​ ​

SBA Servicing Asset

 

Fair value, January 1, 2026

$

5,512

Servicing assets that resulted from transfers of financial assets

156

Changes in fair value due to decay

(502)

Changes in fair value due to valuation inputs or assumptions

10

Fair value, March 31, 2026

$

5,176