XML 42 R26.htm IDEA: XBRL DOCUMENT
v3.20.4

Fair Value Of Financial Instruments | 12 Months Ended
--- | ---
Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying amounts and estimated fair values of financial instruments held by the Company are set forth below. Fair value estimates are made at a specific point in time based on relevant market information. They do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for many of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, risk characteristics and economic conditions. These estimates are subjective, involve uncertainties, and cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The estimated fair values of the Company’s financial instruments and the classification of their fair value measurement within the valuation hierarchy are as follows at December 31, 2020 and 2019:
| Carrying Amount |  | Estimated Fair Value at December 31, 2020
(In thousands) |  | Level 1 | Level 2 | Level 3 | Total
Financial Assets |  |  |  |  |  |
Loans: |  |  |  |  |  |
Business | $ | 6,546,087 |  |  | $ | — |  | $ | — |  | $ | 6,467,572 |  | $ | 6,467,572 |
Real estate - construction and land | 1,021,595 |  |  | — |  | — |  | 995,873 |  | 995,873 |
Real estate - business | 3,026,117 |  |  | — |  | — |  | 3,016,576 |  | 3,016,576 |
Real estate - personal | 2,820,030 |  |  | — |  | — |  | 2,830,521 |  | 2,830,521 |
Consumer | 1,950,502 |  |  | — |  | — |  | 1,953,217 |  | 1,953,217 |
Revolving home equity | 307,083 |  |  | — |  | — |  | 304,434 |  | 304,434 |
Consumer credit card | 655,078 |  |  | — |  | — |  | 576,320 |  | 576,320 |
Overdrafts | 3,149 |  |  | — |  | — |  | 3,068 |  | 3,068 |
Total loans | 16,329,641 |  |  | — |  | — |  | 16,147,581 |  | 16,147,581 |
Loans held for sale | 45,089 |  |  | — |  | 45,089 |  | — |  | 45,089 |
Investment securities | 12,626,296 |  |  | 841,025 |  | 11,638,558 |  | 146,713 |  | 12,626,296 |
Securities purchased under agreements to resell | 850,000 |  |  | — |  | — |  | 894,338 |  | 894,338 |
Interest earning deposits with banks | 1,747,363 |  |  | 1,747,363 |  | — |  | — |  | 1,747,363 |
Cash and due from banks | 437,563 |  |  | 437,563 |  | — |  | — |  | 437,563 |
Derivative instruments | 89,889 |  |  | — |  | 86,447 |  | 3,442 |  | 89,889 |
Assets held in trust for deferred compensation plan | 19,278 |  |  | 19,278 |  | — |  | — |  | 19,278 |
Total | $ | 32,145,119 |  |  | $ | 3,045,229 |  | $ | 11,770,094 |  | $ | 17,192,074 |  | $ | 32,007,397 |
Financial Liabilities |  |  |  |  |  |
Non-interest bearing deposits | $ | 10,497,598 |  |  | $ | 10,497,598 |  | $ | — |  | $ | — |  | $ | 10,497,598 |
Savings, interest checking and money market deposits | 14,604,456 |  |  | 14,604,456 |  | — |  | — |  | 14,604,456 |
Certificates of deposit | 1,844,691 |  |  | — |  | — |  | 1,847,277 |  | 1,847,277 |
Federal funds purchased | 42,270 |  |  | 42,270 |  | — |  | — |  | 42,270 |
Securities sold under agreements to repurchase | 2,056,113 |  |  | — |  | — |  | 2,056,173 |  | 2,056,173 |
Derivative instruments | 18,675 |  |  | — |  | 17,974 |  | 701 |  | 18,675 |
Liabilities held in trust for deferred compensation plan | 19,278 |  |  | 19,278 |  | — |  | — |  | 19,278 |
Total | $ | 29,083,081 |  |  | $ | 25,163,602 |  | $ | 17,974 |  | $ | 3,904,151 |  | $ | 29,085,727 |
| Carrying Amount |  | Estimated Fair Value at December 31, 2019
(In thousands) |  | Level 1 | Level 2 | Level 3 | Total
Financial Assets |  |  |  |  |  |
Loans: |  |  |  |  |  |
Business | $ | 5,565,449 |  |  | $ | — |  | $ | — |  | $ | 5,526,303 |  | $ | 5,526,303 |
Real estate - construction and land | 899,377 |  |  | — |  | — |  | 898,152 |  | 898,152 |
Real estate - business | 2,833,554 |  |  | — |  | — |  | 2,849,213 |  | 2,849,213 |
Real estate - personal | 2,354,760 |  |  | — |  | — |  | 2,333,002 |  | 2,333,002 |
Consumer | 1,964,145 |  |  | — |  | — |  | 1,938,505 |  | 1,938,505 |
Revolving home equity | 349,251 |  |  | — |  | — |  | 344,424 |  | 344,424 |
Consumer credit card | 764,977 |  |  | — |  | — |  | 708,209 |  | 708,209 |
Overdrafts | 6,304 |  |  | — |  | — |  | 4,478 |  | 4,478 |
Total loans | 14,737,817 |  |  | — |  | — |  | 14,602,286 |  | 14,602,286 |
Loans held for sale | 13,809 |  |  | — |  | 13,809 |  | — |  | 13,809 |
Investment securities | 8,740,608 |  |  | 854,705 |  | 7,738,158 |  | 147,745 |  | 8,740,608 |
Securities purchased under agreements to resell | 850,000 |  |  | — |  | — |  | 869,592 |  | 869,592 |
Interest earning deposits with banks | 395,850 |  |  | 395,850 |  | — |  | — |  | 395,850 |
Cash and due from banks | 491,615 |  |  | 491,615 |  | — |  | — |  | 491,615 |
Derivative instruments | 105,674 |  |  | — |  | 105,075 |  | 599 |  | 105,674 |
Assets held in trust for deferred compensation plan | 16,518 |  |  | 16,518 |  | — |  | — |  | 16,518 |
Total | $ | 25,351,891 |  |  | $ | 1,758,688 |  | $ | 7,857,042 |  | $ | 15,620,222 |  | $ | 25,235,952 |
Financial Liabilities |  |  |  |  |  |
Non-interest bearing deposits | $ | 6,890,687 |  |  | $ | 6,890,687 |  | $ | — |  | $ | — |  | $ | 6,890,687 |
Savings, interest checking and money market deposits | 11,621,716 |  |  | 11,621,716 |  | — |  | — |  | 11,621,716 |
Certificates of deposit | 2,008,012 |  |  | — |  | — |  | 2,022,629 |  | 2,022,629 |
Federal funds purchased | 20,035 |  |  | 20,035 |  | — |  | — |  | 20,035 |
Securities sold under agreements to repurchase | 1,830,737 |  |  | — |  | — |  | 1,831,518 |  | 1,831,518 |
Other borrowings | 988 |  |  | — |  | 988 |  | — |  | 988 |
Derivative instruments | 10,219 |  |  | — |  | 9,989 |  | 230 |  | 10,219 |
Liabilities held in trust for deferred compensation plan | 16,518 |  |  | 16,518 |  | — |  | — |  | 16,518 |
Total | $ | 22,398,912 |  |  | $ | 18,548,956 |  | $ | 10,977 |  | $ | 3,854,377 |  | $ | 22,414,310 |

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 The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration