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v3.20.2

Fair Value Accounting and Measurement (Tables) | 9 Months Ended
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Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at September 30, 2020 and December 31, 2019 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
|  | Fair Value |  | Fair Value Measurements at Reporting Date Using
|  | Level 1 |  | Level 2 |  | Level 3
September 30, 2020 |  | (in thousands)
Assets |  |  |  |  |  |  |  |
Debt securities available for sale: |  |  |  |  |  |  |  |
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations |  | $ | 3,121,642 |  |  | $ | — |  |  | $ | 3,121,642 |  |  | $ | — |
Other asset-backed securities |  | 293,024 |  |  | — |  |  | 293,024 |  |  | — |
State and municipal securities |  | 557,444 |  |  | — |  |  | 557,444 |  |  | — |
U.S. government agency and government-sponsored enterprise securities |  | 309,610 |  |  | — |  |  | 309,610 |  |  | — |
Total debt securities available for sale |  | $ | 4,281,720 |  |  | $ | — |  |  | $ | 4,281,720 |  |  | $ | — |
Other assets: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | 53,202 |  |  | $ | — |  |  | $ | 53,202 |  |  | $ | — |
Interest rate collar |  | $ | 35,668 |  |  | $ | — |  |  | $ | 35,668 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | 53,677 |  |  | $ | — |  |  | $ | 53,677 |  |  | $ | — |
|  | Fair Value |  | Fair Value Measurements at Reporting Date Using
|  | Level 1 |  | Level 2 |  | Level 3
December 31, 2019 |  | (in thousands)
Assets |  |  |  |  |  |  |  |
Debt securities available for sale: |  |  |  |  |  |  |  |
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations |  | $ | 2,892,950 |  |  | $ | — |  |  | $ | 2,892,950 |  |  | $ | — |
Other asset-backed securities |  | 196,050 |  |  | — |  |  | 196,050 |  |  | — |
State and municipal securities |  | 488,802 |  |  | — |  |  | 488,802 |  |  | — |
U.S. government agency and government-sponsored enterprise securities |  | 168,340 |  |  | — |  |  | 168,340 |  |  | — |
Total debt securities available for sale |  | $ | 3,746,142 |  |  | $ | — |  |  | $ | 3,746,142 |  |  | $ | — |
Other assets: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | 19,144 |  |  | $ | — |  |  | $ | 19,144 |  |  | $ | — |
Interest rate collar |  | $ | 14,727 |  |  | $ | — |  |  | $ | 14,727 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | 19,145 |  |  | $ | — |  |  | $ | 19,145 |  |  | $ | — |
Equity Securities without Readily Determinable Fair Value [Table Text Block] | The following table presents the carrying value of equity securities, without readily determinable fair values, still held as of September 30, 2020, that are measured under the measurement alternative and related adjustments recorded during the periods presented for those securities with observable price changes. These securities are included in the nonrecurring fair value tables when applicable price changes are observable.
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Equity securities without readily determinable fair values |  | (in thousands)
Carrying value, beginning of period |  | $ | 13,425 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Upward carrying value changes |  | — |  |  | — |  |  | 13,425 |  |  | — |
Carrying value, end of period |  | $ | 13,425 |  |  | $ | — |  |  | $ | 13,425 |  |  | $ | — |
Financial Assets Accounted For Fair Value On Nonrecurring Basis | The following tables set forth information related to the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the current and prior year quarterly periods:
|  | Fair Value at September 30, 2020 |  | Fair Value Measurements at Reporting Date Using |  | Gains During the Three Months Ended September 30, 2020 |  | Losses During the Nine Months Ended September 30, 2020
|  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in thousands)
Collateral dependent loans |  | $ | 11,899 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,899 |  |  | $ | (153) |  |  | $ | 4,941 |
|  | Fair Value at September 30, 2019 |  | Fair Value Measurements at Reporting Date Using |  | Losses During the Three Months Ended September 30, 2019 |  | Losses During the Nine Months Ended September 30, 2019
|  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in thousands)
Collateral dependent loans |  | $ | 8,990 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,990 |  |  | $ | 1,722 |  |  | $ | 3,299 |
Fair Value, by Balance Sheet Grouping | The following tables summarize carrying amounts and estimated fair values of selected financial instruments by level within the fair value hierarchy at September 30, 2020 and December 31, 2019:
|  | September 30, 2020
|  | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Assets |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 193,823 |  |  | $ | 193,823 |  |  | $ | 193,823 |  |  | $ | — |  |  | $ | — |
Interest-earning deposits with banks |  | 736,422 |  |  | 736,422 |  |  | 736,422 |  |  | — |  |  | — |
Debt securities available for sale |  | 4,281,720 |  |  | 4,281,720 |  |  | — |  |  | 4,281,720 |  |  | — |
Equity securities without readily determinable fair values |  | 13,425 |  |  | 13,425 |  |  | — |  |  | — |  |  | 13,425 |
FHLB stock |  | 10,280 |  |  | 10,280 |  |  | — |  |  | 10,280 |  |  | — |
Loans held for sale |  | 24,407 |  |  | 24,407 |  |  | — |  |  | 24,407 |  |  | — |
Loans |  | 9,531,979 |  |  | 9,980,912 |  |  | — |  |  | — |  |  | 9,980,912 |
Interest rate contracts |  | 53,202 |  |  | 53,202 |  |  | — |  |  | 53,202 |  |  | — |
Interest rate collar |  | 35,668 |  |  | 35,668 |  |  | — |  |  | 35,668 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |  |
Time deposits |  | $ | 337,228 |  |  | $ | 337,386 |  |  | $ | — |  |  | $ | 337,386 |  |  | $ | — |
FHLB advances |  | 7,427 |  |  | 9,354 |  |  | — |  |  | 9,354 |  |  | — |
Repurchase agreements |  | 26,966 |  |  | 26,966 |  |  | — |  |  | 26,966 |  |  | — |
Subordinated debentures |  | 35,139 |  |  | 35,368 |  |  | — |  |  | 35,368 |  |  | — |
Interest rate contracts |  | 53,677 |  |  | 53,677 |  |  | — |  |  | 53,677 |  |  | — |
|  | December 31, 2019
|  | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Assets |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 223,541 |  |  | $ | 223,541 |  |  | $ | 223,541 |  |  | $ | — |  |  | $ | — |
Interest-earning deposits with banks |  | 24,132 |  |  | 24,132 |  |  | 24,132 |  |  | — |  |  | — |
Debt securities available for sale |  | 3,746,142 |  |  | 3,746,142 |  |  | — |  |  | 3,746,142 |  |  | — |
FHLB stock |  | 48,120 |  |  | 48,120 |  |  | — |  |  | 48,120 |  |  | — |
Loans held for sale |  | 17,718 |  |  | 17,718 |  |  | — |  |  | 17,718 |  |  | — |
Loans |  | 8,659,497 |  |  | 8,883,865 |  |  | — |  |  | — |  |  | 8,883,865 |
Interest rate contracts |  | 19,144 |  |  | 19,144 |  |  | — |  |  | 19,144 |  |  | — |
Interest rate collar |  | 14,727 |  |  | 14,727 |  |  | — |  |  | 14,727 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |  |
Time deposits |  | $ | 400,070 |  |  | $ | 397,736 |  |  | $ | — |  |  | $ | 397,736 |  |  | $ | — |
FHLB advances |  | 953,469 |  |  | 952,762 |  |  | — |  |  | 952,762 |  |  | — |
Repurchase agreements |  | 64,437 |  |  | 64,437 |  |  | — |  |  | 64,437 |  |  | — |
Subordinated debentures |  | 35,277 |  |  | 35,491 |  |  | — |  |  | 35,491 |  |  | — |
Interest rate contracts |  | 19,145 |  |  | 19,145 |  |  | — |  |  | 19,145 |  |  | — |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Fair Value Inputs, Assets, Quantitative Information | The range and weighted average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets, along with the valuation techniques used, are shown in the following table:
|  | Fair Value at September 30, 2020 |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average) (1)
|  | (dollars in thousands)
Collateral dependent loans (2) |  | $ | 11,899 |  |  | Fair Market Value of Collateral |  | Adjustment to Stated Value |  | 0.00% - 100.00% (15.57%)
__________ (1) Discount applied to appraised value or stated value (in the case of accounts receivable, fixed assets and inventory). (2) Collateral consists of accounts receivable, fixed assets, inventory and real estate.
|  | Fair Value at September 30, 2019 |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average) (1)
|  | (dollars in thousands)
Collateral dependent loans (2) |  | $ | 8,990 |  |  | Fair Market Value of Collateral |  | Adjustment to Stated Value |  | 0.00% - 100.00% (42.09%)
__________ (1) Discount applied to appraised value or stated value (in the case of accounts receivable, fixed assets and inventory). (2) Collateral consists of cash, accounts receivable, fixed assets, inventory and real estate.

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