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Fair Value Accounting and Measurement (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at December 31, 2021 and 2020 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 at December 31, 2021 |  | Fair Value Measurements at Reporting Date Using
|  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Assets |  |  |  |  |  |  |  |
Debt securities available for sale: |  |  |  |  |  |  |  |
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations |  | $ | 3,745,601 |  |  | $ | — |  |  | $ | 3,745,601 |  |  | $ | — |
Other asset-backed securities |  | 463,063 |  |  | — |  |  | 463,063 |  |  | — |
State and municipal securities |  | 997,291 |  |  | — |  |  | 997,291 |  |  | — |
U.S. government agency and government-sponsored enterprise securities |  | 252,576 |  |  | — |  |  | 252,576 |  |  | — |
U.S. government securities |  | 157,536 |  |  | 157,536 |  |  | — |  |  | — |
Non-agency collateralized mortgage obligations |  | $ | 294,932 |  |  | $ | — |  |  | $ | 294,932 |  |  | $ | — |
Total debt securities available for sale |  | $ | 5,910,999 |  |  | $ | 157,536 |  |  | $ | 5,753,463 |  |  | $ | — |
Loans held for sale |  | $ | 9,570 |  |  | $ | — |  |  | $ | 9,570 |  |  | $ | — |
Other assets: |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | 356 |  |  | $ | — |  |  | $ | — |  |  | $ | 356 |
Interest rate swap contracts |  | $ | 24,257 |  |  | $ | — |  |  | $ | 24,257 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |  |
Interest rate forward loan sales contracts |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |  |  | $ | — |
Interest rate swap contracts |  | $ | 24,257 |  |  | $ | — |  |  | $ | 24,257 |  |  | $ | — |
|  | Fair Value at December 31, 2020 |  | Fair Value Measurements at Reporting Date Using
|  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Assets |  |  |  |  |  |  |  |
Debt securities available for sale: |  |  |  |  |  |  |  |
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations |  | $ | 3,814,387 |  |  | $ | — |  |  | $ | 3,814,387 |  |  | $ | — |
Other asset-backed securities |  | 357,479 |  |  | — |  |  | 357,479 |  |  | — |
State and municipal securities |  | 753,572 |  |  | — |  |  | 753,572 |  |  | — |
U.S. government agency and government-sponsored enterprise securities |  | 284,696 |  |  | — |  |  | 284,696 |  |  | — |
Total debt securities available for sale |  | $ | 5,210,134 |  |  | $ | — |  |  | $ | 5,210,134 |  |  | $ | — |
Loans held for sale |  | $ | 14,760 |  |  | $ | — |  |  | $ | 14,760 |  |  | $ | — |
Other assets: |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | 1,096 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,096 |
Interest rate swap contracts |  | $ | 46,184 |  |  | $ | — |  |  | $ | 46,184 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |  |
Interest rate forward loan sales contracts |  | $ | 165 |  |  | $ | — |  |  | $ | 165 |  |  | $ | — |
Interest rate swap contracts |  | $ | 46,637 |  |  | $ | — |  |  | $ | 46,637 |  |  | $ | — |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table includes a rollforward of interest rate lock commitments which utilize Level 3 inputs to determine the fair value on a recurring basis.
|  | Years Ended December 31,
|  | 2021 |  | 2020
|  | (in thousands)
Balance at the beginning of the period |  | $ | 1,096 |  |  | $ | — |
Change included in earnings |  | 7,051 |  |  | 2,795 |
Settlements |  | (7,791) |  |  | (1,699) |
Balance at the end of the period |  | $ | 356 |  |  | $ | 1,096 |
Equity Securities without Readily Determinable Fair Value | The following table presents the carrying value of equity securities, without readily determinable fair values, still held as of December 31, 2021, 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.
|  | Years Ended December 31,
|  | 2021 |  | 2020
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 table sets forth the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the years ended December 31, 2021 and 2020:
|  | Fair Value at December 31, 2021 |  | Fair Value Measurements at Reporting Date Using |  | Gains (Losses) During the Year Ended December 31, 2021
|  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in thousands)
Collateral dependent loans |  | $ | 7,615 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,615 |  |  | $ | (1,976) |
OREO |  | $ | 375 |  |  | $ | — |  |  | $ | — |  |  | $ | 375 |  |  | $ | (140) |
|  | Fair Value at December 31, 2020 |  | Fair Value Measurements at Reporting Date Using |  | Gains (Losses) During the Year Ended December 31, 2020
|  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in thousands)
Collateral dependent loans |  | $ | 15,569 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,569 |  |  | $ | (8,700) |
OREO |  | 525 |  |  | — |  |  | — |  |  | 525 |  |  | (70) |
Equity securities |  | 13,425 |  |  | — |  |  | 13,425 |  |  | — |  |  | 13,425 |
Fair Value, by Balance Sheet Grouping | The following tables summarize carrying amounts and estimated fair values of selected financial instruments for the periods indicated:
|  | December 31, 2021
|  | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Assets |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 153,414 |  |  | $ | 153,414 |  |  | $ | 153,414 |  |  | $ | — |  |  | $ | — |
Interest-earning deposits with banks |  | 671,300 |  |  | 671,300 |  |  | 671,300 |  |  | — |  |  | — |
Debt securities available for sale |  | 5,910,999 |  |  | 5,910,999 |  |  | 157,536 |  |  | 5,753,463 |  |  | — |
Debt securities held to maturity |  | 2,148,327 |  |  | 2,122,606 |  |  | — |  |  | 2,122,606 |  |  | — |
FHLB stock |  | 10,280 |  |  | 10,280 |  |  | — |  |  | 10,280 |  |  | — |
Loans held for sale |  | 9,774 |  |  | 9,774 |  |  | — |  |  | 9,774 |  |  | — |
Loans |  | 10,486,359 |  |  | 10,679,349 |  |  | — |  |  | — |  |  | 10,679,349 |
Interest rate contracts |  | 24,257 |  |  | 24,257 |  |  | — |  |  | 24,257 |  |  | — |
Interest rate lock commitments |  | 356 |  |  | 356 |  |  | — |  |  | — |  |  | 356 |
Liabilities |  |  |  |  |  |  |  |  |  |
Time deposits |  | $ | 445,957 |  |  | $ | 430,682 |  |  | $ | — |  |  | $ | 430,682 |  |  | $ | — |
FHLB advances and FRB borrowings |  | 7,359 |  |  | 8,752 |  |  | — |  |  | 8,752 |  |  | — |
Repurchase agreements |  | 86,013 |  |  | 86,013 |  |  | — |  |  | 86,013 |  |  | — |
Subordinated debentures |  | 10,000 |  |  | 10,125 |  |  | — |  |  | 10,125 |  |  | — |
Junior subordinated debentures |  | 10,310 |  |  | 9,927 |  |  | — |  |  | 9,927 |  |  | — |
Interest rate contracts |  | 24,257 |  |  | 24,257 |  |  | — |  |  | 24,257 |  |  | — |
Interest rate forward loan sales contracts |  | 27 |  |  | 27 |  |  | — |  |  | 27 |  |  | — |
|  | December 31, 2020
|  | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Assets |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 218,899 |  |  | $ | 218,899 |  |  | $ | 218,899 |  |  | $ | — |  |  | $ | — |
Interest-earning deposits with banks |  | 434,867 |  |  | 434,867 |  |  | 434,867 |  |  | — |  |  | — |
Debt securities available for sale |  | 5,210,134 |  |  | 5,210,134 |  |  | — |  |  | 5,210,134 |  |  | — |
FHLB stock |  | 10,280 |  |  | 10,280 |  |  | — |  |  | 10,280 |  |  | — |
Loans held for sale |  | 26,481 |  |  | 26,481 |  |  | — |  |  | 26,481 |  |  | — |
Loans |  | 9,278,520 |  |  | 9,720,592 |  |  | — |  |  | — |  |  | 9,720,592 |
Interest rate contracts |  | 46,184 |  |  | 46,184 |  |  | — |  |  | 46,184 |  |  | — |
Interest rate lock commitments |  | 1,096 |  |  | 1,096 |  |  | — |  |  | — |  |  | 1,096 |
Liabilities |  |  |  |  |  |  |  |  |  |
Time deposits |  | $ | 338,845 |  |  | $ | 338,815 |  |  | $ | — |  |  | $ | 338,815 |  |  | $ | — |
FHLB advances and FRB borrowings |  | 7,414 |  |  | 9,295 |  |  | — |  |  | 9,295 |  |  | — |
Repurchase agreements |  | 73,859 |  |  | 73,859 |  |  | — |  |  | 73,859 |  |  | — |
Subordinated debentures |  | 35,092 |  |  | 35,414 |  |  | — |  |  | 35,414 |  |  | — |
Interest rate contracts |  | 46,637 |  |  | 46,637 |  |  | — |  |  | 46,637 |  |  | — |
Interest rate forward loan sales contracts |  | 165 |  |  | 165 |  |  | — |  |  | 165 |  |  | — |
Fair Value Option, Disclosures | The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale sold under the mandatory delivery method and accounted for under the fair value option as of December 31, 2021 and 2020:
December 31,
2021 |  | 2020
Fair Value |  | Aggregate Unpaid Principal Balance |  | Fair Value Less Aggregate Unpaid Principal Balance |  | Fair Value |  | Aggregate Unpaid Principal Balance |  | Fair Value Less Aggregate Unpaid Principal Balance
(in thousands)
$ | 9,570 |  |  | $ | 9,401 |  |  | $ | 169 |  |  | $ | 14,760 |  |  | $ | 14,252 |  |  | $ | 508 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Fair Value Assets and Liabilities Measured on recurring basis valuation technique | The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring basis at December 31, 2021.
|  | Fair Value at December 31, 2021 |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average)
|  | (dollars in thousands)
Interest rate lock commitments |  | $ | 356 |  |  | Internal pricing model |  | Pull-through rate |  | 80.22% - 96.59% (87.84%)
|  | Fair Value at December 31, 2020 |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average)
|  | (dollars in thousands)
Interest rate lock commitments |  | $ | 1,096 |  |  | Internal pricing model |  | Pull-through rate |  | 75.43% - 96.63% (88.13%)
Fair Value, Inputs, Level 3 | Fair Value, Nonrecurring |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Fair value assets measured on nonrecurring basis valuation technique | The range and weighted average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets during 2021 and 2020, along with the valuation techniques used, are shown in the following tables:
|  | Fair Value at December 31, 2021 |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average) (1)
|  | (dollars in thousands)
Collateral dependent loans (2) |  | $ | 7,615 |  |  | Fair Market Value of Collateral |  | Adjustment to Stated Value |  | 0.00% - 100.00% (48.00%)
OREO |  | $ | 375 |  |  | Fair Market Value of Collateral |  | Adjustment to Appraisal Value |  | N/A (3)
__________ (1) Adjustment applied to appraisal value and stated value (in the case of fixed assets, accounts receivable and inventory). (2) Collateral consists of accounts receivable, inventory, fixed assets, intangible assets and real estate. (3) Quantitative disclosures are not provided for OREO because there were no adjustments made to the appraisal values or stated values during the period.
|  | Fair Value at December 31, 2020 |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average) (1)
|  | (dollars in thousands)
Collateral dependent loans (2) |  | $ | 15,569 |  |  | Fair Market Value of Collateral |  | Adjustment to Stated Value |  | 0.00% - 100.00% (41.36%)
OREO |  | $ | 525 |  |  | Fair Market Value of Collateral |  | Adjustment to Appraisal Value |  | N/A (3)
__________ (1) Adjustment applied to appraisal value and stated value (in the case of fixed assets, accounts receivable and inventory). (2) Collateral consists of accounts receivable, inventory, fixed assets, real estate and cash. (3) Quantitative disclosures are not provided for OREO because there were no adjustments made to the appraisal values or stated values during the period.

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