XML 71 R55.htm IDEA: XBRL DOCUMENT v3.25.4

Fair Value (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which we have elected the fair value option, are summarized below:

						Fair Value Measurements at December 31, 2025 Using
(dollars in thousands)			Carrying Value			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Financial Assets
Equity securities			$	128,857		$	128,857		$	—		$	—
Investment securities available-for-sale:
U.S. Treasury			214,544			214,544			—			—
U.S. government-sponsored entities and agencies			1,372,392			—			1,372,392			—
Mortgage-backed securities - Agency			9,168,035			—			9,168,035			—
States and political subdivisions			426,008			—			426,008			—
Pooled trust preferred securities			11,734			—			11,734			—
Other securities			191,737			—			191,737			—
Loans held-for-sale			52,911			—			52,911			—
Derivative assets			170,828			—			170,828			—
Financial Liabilities
Derivative liabilities			258,968			—			258,968			—
						Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)			Carrying Value			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Financial Assets
Equity securities			$	91,996		$	91,996		$	—		$	—
Investment securities available-for-sale:
U.S. Treasury			199,013			199,013			—			—
U.S. government-sponsored entities and agencies			1,257,906			—			1,257,906			—
Mortgage-backed securities - Agency			5,204,891			—			5,204,891			—
States and political subdivisions			485,544			—			485,544			—
Pooled trust preferred securities			11,322			—			11,322			—
Other securities			299,783			—			299,783			—
Loans held-for-sale			34,483			—			34,483			—
Derivative assets			146,478			—			146,478			—
Financial Liabilities
Derivative liabilities			244,313			—			244,313			—

Schedule of Assets Measured at Fair Value on a Non-Recurring Basis

Assets measured at fair value on a non-recurring basis at December 31, 2025 are summarized below:

						Fair Value Measurements at December 31, 2025 Using
(dollars in thousands)			Carrying Value			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Collateral Dependent Loans:
Commercial loans			$	55,471		$	—		$	—		$	55,471
Commercial real estate loans			109,852			—			—			109,852
Foreclosed Assets:
Commercial real estate			975			—			—			975
Residential			98			—			—			98

Assets measured at fair value on a non-recurring basis at December 31, 2024 are summarized below:

						Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)			Carrying Value			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Collateral Dependent Loans:
Commercial loans			$	33,658		$	—		$	—		$	33,658
Commercial real estate loans			121,393			—			—			121,393
Foreclosed Assets:
Commercial real estate			975			—			—			975
Residential			244			—			—			244

Schedule of Quantitative Information about Significant Unobservable Inputs Used in Fair Value Measurements

The table below provides quantitative information about significant unobservable inputs used in fair value measurements within Level 3 of the fair value hierarchy:

(dollars in thousands)

Fair Value

Valuation Techniques

Unobservable Input

Range (Weighted Average)(1)

December 31, 2025

Collateral Dependent Loans

Commercial loans

$

55,471

Discounted cash flow

Discount for type of property, age of appraisal, and current status

8% - 50% (35%)

Commercial real estate loans

109,852

Discounted cash flow

Discount for type of property, age of appraisal, and current status

2% - 61% (17%)

Foreclosed Assets

Commercial real estate (2)

975

Fair value of collateral

Discount for type of property, age of appraisal, and current status

30%

Residential (2)

98

Fair value of collateral

Discount for type of property, age of appraisal, and current status

44%

December 31, 2024

Collateral Dependent Loans

Commercial loans

$

33,658

Discounted cash flow

Discount for type of property, age of appraisal, and current status

9% - 49% (31%)

Commercial real estate loans

121,393

Discounted cash flow

Discount for type of property, age of appraisal, and current status

3% - 46% (18%)

Foreclosed Assets

Commercial real estate (2)

975

Fair value of collateral

Discount for type of property, age of appraisal, and current status

28%

Residential (2)

244

Fair value of collateral

Discount for type of property, age of appraisal, and current status

24%

(1)Unobservable inputs were weighted by the relative fair value of the instruments.

(2)There was only one foreclosed commercial real estate property and one foreclosed residential real estate property at December 31, 2025 and December 31, 2024 with write-downs during 2025 and 2024, so no range or weighted average is reported.

Schedule of Difference Between the Aggregate Fair Value and the Aggregate Remaining Principal Balance

The difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected was as follows:

(dollars in thousands)			Aggregate Fair Value			Difference			Contractual Principal
December 31, 2025
Loans held-for-sale			$	52,911		$	1,148		$	51,763
December 31, 2024
Loans held-for-sale			$	34,483		$	271		$	34,212

The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value:

(dollars in thousands)			Other Gains and (Losses)			Interest Income			Interest (Expense)			Total Changes in Fair Values Included in Current Period Earnings
Year Ended December 31, 2025
Loans held-for-sale			$	874		$	101		$	(98)		$	877
Year Ended December 31, 2024
Loans held-for-sale			$	(377)		$	32		$	(5)		$	(350)

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Not Carried at Fair Value

The carrying amounts and estimated fair values of financial instruments not carried at fair value were as follows:

						Fair Value Measurements at December 31, 2025 Using
(dollars in thousands)			Carrying Value			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Financial Assets
Cash, due from banks, money market,    and other interest-earning investments			$	1,826,177		$	1,826,177		$	—		$	—
Investment securities held-to-maturity:
U.S. government-sponsored entities and agencies			840,435			—			710,909			—
Mortgage-backed securities - Agency			910,323			—			782,818			—
State and political subdivisions			1,144,730			—			1,046,511			—
Loans, net:
Commercial			14,737,809			—			—			14,831,563
Commercial real estate			21,780,686			—			—			21,806,075
Residential real estate			8,433,102			—			—			7,526,511
Consumer			3,243,045			—			—			3,027,561
Accrued interest receivable			306,812			894			77,288			228,630
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits			$	13,247,483		$	13,247,483		$	—		$	—
Checking, NOW, savings, and money market    interest-bearing deposits			32,179,688			32,179,688			—			—
Time deposits			9,661,024			—			9,540,748			—
Federal funds purchased and interbank borrowings			100,197			100,197			—			—
Securities sold under agreements to repurchase			261,366			261,366			—			—
FHLB advances			6,237,375			—			6,229,752			—
Other borrowings			852,429			—			853,938			—
Accrued interest payable			65,291			—			65,291			—
Standby letters of credit			1,672			—			—			1,672
Off-Balance Sheet Financial Instruments
Commitments to extend credit			$	—		$	—		$	—		$	5,687

						Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)			Carrying Value			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Financial Assets
Cash, due from banks, money market,    and other interest-earning investments			$	1,227,968		$	1,227,968		$	—		$	—
Investment securities held-to-maturity:
U.S. government-sponsored entities and agencies			832,984			—			664,331			—
Mortgage-backed securities - Agency			970,212			—			800,666			—
State and political subdivisions			1,151,685			—			1,006,141			—
Loans, net:
Commercial			10,138,241			—			—			10,158,299
Commercial real estate			16,105,961			—			—			15,961,968
Residential real estate			6,774,664			—			—			6,080,709
Consumer			2,874,499			—			—			2,800,060
Accrued interest receivable			233,010			912			60,459			171,639
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits			$	9,399,019		$	9,399,019		$	—		$	—
Checking, NOW, savings, and money market    interest-bearing deposits			24,668,802			24,668,802			—			—
Time deposits			6,755,739			—			6,727,453			—
Federal funds purchased and interbank borrowings			385			385			—			—
Securities sold under agreements to repurchase			268,975			268,975			—			—
FHLB advances			4,452,559			—			4,340,188			—
Other borrowings			689,618			—			689,246			—
Accrued interest payable			65,057			—			65,057			—
Standby letters of credit			1,742			—			—			1,742
Off-Balance Sheet Financial Instruments
Commitments to extend credit			$	—		$	—		$	—		$	3,403

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-13

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information about asset and liability measured at fair value under fair value option.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

+ Details

Name:	us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration