XML 34 R27.htm IDEA: XBRL DOCUMENT
v3.24.3

Fair Value (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Fair Value Assets and Liabilities Measured on Recurring Basis | The following tables present fair values for assets and liabilities measured at fair value on a recurring basis:
|  | As of September 30, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (Dollars in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | — |  |  | $ | 16,282 |  |  | $ | — |  |  | $ | 16,282 |
Collateralized mortgage obligations |  |  | — |  |  |  | 206,799 |  |  |  | — |  |  |  | 206,799 |
Mortgage-backed securities |  |  | — |  |  |  | 108,333 |  |  |  | — |  |  |  | 108,333 |
Derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | — |  |  | $ | 276 |  |  | $ | — |  |  | $ | 276 |
Forward mortgage-backed securities trades |  |  | — |  |  |  | 27 |  |  |  | — |  |  |  | 27 |
Loan customer counterparty |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Financial institution counterparty |  |  | — |  |  |  | 1,365 |  |  |  | — |  |  |  | 1,365 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Forward mortgage-backed securities trades |  |  | — |  |  |  | 80 |  |  |  | — |  |  |  | 80 |
Loan customer counterparty |  |  | — |  |  |  | 1,375 |  |  |  | — |  |  |  | 1,375 |
Financial institution counterparty |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | As of December 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (Dollars in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | — |  |  | $ | 21,787 |  |  | $ | — |  |  | $ | 21,787 |
Collateralized mortgage obligations |  |  | — |  |  |  | 320,044 |  |  |  | — |  |  |  | 320,044 |
Mortgage-backed securities |  |  | — |  |  |  | 96,757 |  |  |  | — |  |  |  | 96,757 |
Derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | — |  |  | $ | 218 |  |  | $ | — |  |  | $ | 218 |
Forward mortgage-backed securities trades |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Loan customer counterparty |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Financial institution counterparty |  |  | — |  |  |  | 3,876 |  |  |  | — |  |  |  | 3,876 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Forward mortgage-backed securities trades |  |  | — |  |  |  | 161 |  |  |  | — |  |  |  | 161 |
Loan customer counterparty |  |  | — |  |  |  | 3,899 |  |  |  | — |  |  |  | 3,899 |
Financial institution counterparty |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Summary of Carrying and Fair Value Information of Financial Instruments | The following tables present carrying and fair value information of financial instruments as of the dates indicated:
|  | As of September 30, 2024 |
|  | Carrying |  |  | Estimated Fair Value |
|  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (Dollars in thousands) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 2,209,863 |  |  | $ | 2,209,863 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,209,863 |
Federal funds sold |  |  | 208 |  |  |  | 208 |  |  |  | — |  |  |  | — |  |  |  | 208 |
Held to maturity securities |  |  | 10,969,342 |  |  |  | — |  |  |  | 9,964,060 |  |  |  | — |  |  |  | 9,964,060 |
Loans held for sale |  |  | 6,113 |  |  |  | — |  |  |  | 6,113 |  |  |  | — |  |  |  | 6,113 |
Loans held for investment, net of allowance |  |  | 20,791,636 |  |  |  | — |  |  |  | — |  |  |  | 19,152,919 |  |  |  | 19,152,919 |
Loans held for investment - Warehouse Purchase Program |  |  | 1,228,706 |  |  |  | — |  |  |  | 1,228,706 |  |  |  | — |  |  |  | 1,228,706 |
Other real estate owned |  |  | 5,757 |  |  |  | — |  |  |  | 5,757 |  |  |  | — |  |  |  | 5,757 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing |  | $ | 9,811,361 |  |  | $ | — |  |  | $ | 9,811,361 |  |  | $ | — |  |  | $ | 9,811,361 |
Interest-bearing |  |  | 18,276,250 |  |  |  | — |  |  |  | 18,258,729 |  |  |  | — |  |  |  | 18,258,729 |
Other borrowings |  |  | 3,900,000 |  |  |  | — |  |  |  | 3,896,912 |  |  |  | — |  |  |  | 3,896,912 |
Securities sold under repurchase agreements |  |  | 228,896 |  |  |  | — |  |  |  | 228,876 |  |  |  | — |  |  |  | 228,876 |
|  | As of December 31, 2023 |
|  | Carrying |  |  | Estimated Fair Value |
|  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (Dollars in thousands) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 458,153 |  |  | $ | 458,153 |  |  | $ | — |  |  | $ | — |  |  | $ | 458,153 |
Federal funds sold |  |  | 260 |  |  |  | 260 |  |  |  | — |  |  |  | — |  |  |  | 260 |
Held to maturity securities |  |  | 12,365,308 |  |  |  | — |  |  |  | 10,984,598 |  |  |  | — |  |  |  | 10,984,598 |
Loans held for sale |  |  | 5,734 |  |  |  | — |  |  |  | 5,734 |  |  |  | — |  |  |  | 5,734 |
Loans held for investment, net of allowance |  |  | 20,020,197 |  |  |  | — |  |  |  | — |  |  |  | 18,321,054 |  |  |  | 18,321,054 |
Loans held for investment - Warehouse Purchase Program |  |  | 822,245 |  |  |  | — |  |  |  | 822,245 |  |  |  | — |  |  |  | 822,245 |
Other real estate owned |  |  | 1,708 |  |  |  | — |  |  |  | 1,708 |  |  |  | — |  |  |  | 1,708 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing |  | $ | 9,776,572 |  |  | $ | — |  |  | $ | 9,776,572 |  |  | $ | — |  |  | $ | 9,776,572 |
Interest-bearing |  |  | 17,403,237 |  |  |  | — |  |  |  | 17,371,523 |  |  |  | — |  |  |  | 17,371,523 |
Other borrowings |  |  | 3,725,000 |  |  |  | — |  |  |  | 3,725,000 |  |  |  | — |  |  |  | 3,725,000 |
Securities sold under repurchase agreements |  |  | 309,277 |  |  |  | — |  |  |  | 309,245 |  |  |  | — |  |  |  | 309,245 |

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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -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 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