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Fair Value Of Financial Instruments | 9 Months Ended
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Sep. 30, 2022
Fair Value Of Financial Instruments [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 September 30, 2022 and December 31, 2021:
| Carrying Amount |  | Estimated Fair Value at September 30, 2022
(In thousands) |  | Level 1 | Level 2 | Level 3 | Total
Financial Assets |  |  |  |  |  |
Loans: |  |  |  |  |  |
Business | $ | 5,528,895 |  |  | $ | — |  | $ | — |  | $ | 5,384,563 |  | $ | 5,384,563 |
Real estate - construction and land | 1,206,955 |  |  | — |  | — |  | 1,191,317 |  | 1,191,317 |
Real estate - business | 3,331,627 |  |  | — |  | — |  | 3,214,321 |  | 3,214,321 |
Real estate - personal | 2,862,519 |  |  | — |  | — |  | 2,628,213 |  | 2,628,213 |
Consumer | 2,116,371 |  |  | — |  | — |  | 2,072,740 |  | 2,072,740 |
Revolving home equity | 286,026 |  |  | — |  | — |  | 282,993 |  | 282,993 |
Consumer credit card | 563,349 |  |  | — |  | — |  | 525,940 |  | 525,940 |
Overdrafts | 3,216 |  |  | — |  | — |  | 3,160 |  | 3,160 |
Total loans | 15,898,958 |  |  | — |  | — |  | 15,303,247 |  | 15,303,247 |
Loans held for sale | 8,062 |  |  | — |  | 8,062 |  | — |  | 8,062 |
Investment securities | 12,899,146 |  |  | 1,042,431 |  | 11,633,549 |  | 223,166 |  | 12,899,146 |
Federal funds sold | 14,020 |  |  | 14,020 |  | — |  | — |  | 14,020 |
Securities purchased under agreements to resell | 1,275,000 |  |  | — |  | — |  | 1,243,913 |  | 1,243,913 |
Interest earning deposits with banks | 642,943 |  |  | 642,943 |  | — |  | — |  | 642,943 |
Cash and due from banks | 344,178 |  |  | 344,178 |  | — |  | — |  | 344,178 |
Derivative instruments | 38,460 |  |  | — |  | 38,419 |  | 41 |  | 38,460 |
Assets held in trust for deferred compensation plan | 16,588 |  |  | 16,588 |  | — |  | — |  | 16,588 |
Total | $ | 31,137,355 |  |  | $ | 2,060,160 |  | $ | 11,680,030 |  | $ | 16,770,367 |  | $ | 30,510,557 |
Financial Liabilities |  |  |  |  |  |
Non-interest bearing deposits | $ | 10,468,591 |  |  | $ | 10,468,591 |  | $ | — |  | $ | — |  | $ | 10,468,591 |
Savings, interest checking and money market deposits | 16,014,487 |  |  | 16,014,487 |  | — |  | — |  | 16,014,487 |
Certificates of deposit | 988,238 |  |  | — |  | — |  | 972,605 |  | 972,605 |
Federal funds purchased | 311,200 |  |  | 311,200 |  | — |  | — |  | 311,200 |
Securities sold under agreements to repurchase | 2,003,390 |  |  | — |  | — |  | 2,004,755 |  | 2,004,755 |
Other borrowings | 985 |  |  | — |  | 985 |  | — |  | 985 |
Derivative instruments | 55,768 |  |  | — |  | 55,669 |  | 99 |  | 55,768 |
Liabilities held in trust for deferred compensation plan | 16,588 |  |  | 16,588 |  | — |  | — |  | 16,588 |
Total | $ | 29,859,247 |  |  | $ | 26,810,866 |  | $ | 56,654 |  | $ | 2,977,459 |  | $ | 29,844,979 |
| Carrying Amount |  | Estimated Fair Value at December 31, 2021
(In thousands) |  | Level 1 | Level 2 | Level 3 | Total
Financial Assets |  |  |  |  |  |
Loans: |  |  |  |  |  |
Business | $ | 5,303,535 |  |  | $ | — |  | $ | — |  | $ | 5,229,153 |  | $ | 5,229,153 |
Real estate - construction and land | 1,118,266 |  |  | — |  | — |  | 1,099,747 |  | 1,099,747 |
Real estate - business | 3,058,837 |  |  | — |  | — |  | 3,054,481 |  | 3,054,481 |
Real estate - personal | 2,805,401 |  |  | — |  | — |  | 2,809,490 |  | 2,809,490 |
Consumer | 2,032,225 |  |  | — |  | — |  | 2,031,408 |  | 2,031,408 |
Revolving home equity | 275,945 |  |  | — |  | — |  | 273,450 |  | 273,450 |
Consumer credit card | 575,410 |  |  | — |  | — |  | 536,468 |  | 536,468 |
Overdrafts | 6,740 |  |  | — |  | — |  | 6,458 |  | 6,458 |
Total loans | 15,176,359 |  |  | — |  | — |  | 15,040,655 |  | 15,040,655 |
Loans held for sale | 8,615 |  |  | — |  | 8,615 |  | — |  | 8,615 |
Investment securities | 14,695,628 |  |  | 1,087,873 |  | 13,413,558 |  | 194,197 |  | 14,695,628 |
Federal funds sold | 2,800 |  |  | 2,800 |  | — |  | — |  | 2,800 |
Securities purchased under agreements to resell | 1,625,000 |  |  | — |  | — |  | 1,623,856 |  | 1,623,856 |
Interest earning deposits with banks | 3,971,217 |  |  | 3,971,217 |  | — |  | — |  | 3,971,217 |
Cash and due from banks | 305,539 |  |  | 305,539 |  | — |  | — |  | 305,539 |
Derivative instruments | 41,842 |  |  | — |  | 40,994 |  | 848 |  | 41,842 |
Assets held in trust for deferred compensation plan | 21,794 |  |  | 21,794 |  | — |  | — |  | 21,794 |
Total | $ | 35,848,794 |  |  | $ | 5,389,223 |  | $ | 13,463,167 |  | $ | 16,859,556 |  | $ | 35,711,946 |
Financial Liabilities |  |  |  |  |  |
Non-interest bearing deposits | $ | 11,772,374 |  |  | $ | 11,772,374 |  | $ | — |  | $ | — |  | $ | 11,772,374 |
Savings, interest checking and money market deposits | 16,598,085 |  |  | 16,598,085 |  | — |  | — |  | 16,598,085 |
Certificates of deposit | 1,442,614 |  |  | — |  | — |  | 1,438,919 |  | 1,438,919 |
Federal funds purchased | 43,385 |  |  | 43,385 |  | — |  | — |  | 43,385 |
Securities sold under agreements to repurchase | 2,979,582 |  |  | — |  | — |  | 2,979,677 |  | 2,979,677 |
Other borrowings | 12,514 |  |  | — |  | 12,514 |  | — |  | 12,514 |
Derivative instruments | 12,101 |  |  | — |  | 11,824 |  | 277 |  | 12,101 |
Liabilities held in trust for deferred compensation plan | 21,794 |  |  | 21,794 |  | — |  | — |  | 21,794 |
Total | $ | 32,882,449 |  |  | $ | 28,435,638 |  | $ | 24,338 |  | $ | 4,418,873 |  | $ | 32,878,849 |

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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 https://asc.fasb.org/extlink&oid=123594938&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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