XML 45 R38.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present for each of the fair value hierarchy levels the Company’s financial assets and liabilities that are measured at fair value on a recurring basis on the consolidated balance sheets at March 31, 2026 and December 31, 2025:


		March 31, 2026
($ in thousands)		Level 1				Level 2				Level 3				Total
Assets
Available for sale debt securities:
U.S. Treasury and government agency securities		$	—			$	282,467			$	—			$	282,467
Municipal obligations			—				180,143				—				180,143
Corporate debt securities			—				16,237				—				16,237
Residential mortgage-backed securities			—				2,333,405				—				2,333,405
Commercial mortgage-backed securities			—				3,140,320				—				3,140,320
Collateralized mortgage obligations			—				23,814				—				23,814
Total available for sale securities			—				5,976,386				—				5,976,386
Mortgage loans held for sale			—				36,477				—				36,477
Derivative assets (1)			—				55,683				—				55,683
Total recurring fair value measurements - assets		$	—			$	6,068,546			$	—			$	6,068,546
Liabilities
Derivative liabilities (1)		$	—			$	90,061			$	1,082			$	91,143
Total recurring fair value measurements - liabilities		$	—			$	90,061			$	1,082			$	91,143

(1) For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.


		December 31, 2025
($ in thousands)		Level 1				Level 2				Level 3				Total
Assets
Available for sale debt securities:
U.S. Treasury and government agency securities		$	—			$	269,332			$	—			$	269,332
Municipal obligations			—				191,328				—				191,328
Corporate debt securities			—				16,357				—				16,357
Residential mortgage-backed securities			—				2,375,629				—				2,375,629
Commercial mortgage-backed securities			—				3,083,325				—				3,083,325
Collateralized mortgage obligations			—				25,946				—				25,946
Total available for sale securities			—				5,961,917				—				5,961,917
Mortgage loans held for sale			—				33,158				—				33,158
Derivative assets (1)			—				63,126				—				63,126
Total recurring fair value measurements - assets		$	—			$	6,058,201			$	—			$	6,058,201
Liabilities
Derivative liabilities (1)		$	—			$	94,083			$	1,284			$	95,367
Total recurring fair value measurements - liabilities		$	—			$	94,083			$	1,284			$	95,367

(1) For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.

Financial Assets Measured at Fair Value on Nonrecurring Basis

The following tables present the Company’s financial assets that are measured at fair value on a nonrecurring basis for each of the fair value hierarchy levels.


		March 31, 2026
($ in thousands)		Level 1				Level 2				Level 3				Total
Collateral-dependent individually evaluated loans		$	—			$	—			$	26,109			$	26,109
Other real estate owned and foreclosed assets			—				—				11,257				11,257
Total nonrecurring fair value measurements		$	—			$	—			$	37,366			$	37,366


		December 31, 2025
($ in thousands)		Level 1				Level 2				Level 3				Total
Collateral-dependent individually evaluated loans		$	—			$	—			$	33,762			$	33,762
Other real estate owned and foreclosed assets, net			—				—				14,788				14,788
Total nonrecurring fair value measurements		$	—			$	—			$	48,550			$	48,550

Estimated Fair Values of Financial Instruments

The following tables present the estimated fair values of the Company’s financial instruments by fair value hierarchy levels and the corresponding carrying amounts.


	March 31, 2026
										Total Fair			Carrying
($ in thousands)	Level 1			Level 2			Level 3			Value			Amount
Financial assets:
Cash, interest-bearing bank deposits, and federal funds sold	$	779,018		$	212		$	—		$	779,230		$	779,230
Available for sale securities		—			5,976,386			—			5,976,386			5,976,386
Held to maturity securities		—			1,926,729			—			1,926,729			2,051,628
Loans, net		—			—			23,577,647			23,577,647			23,680,524
Loans held for sale		—			63,090			—			63,090			63,090
Derivative financial instruments		—			55,683			—			55,683			55,683
Financial liabilities:
Deposits	$	—		$	—		$	29,072,945		$	29,072,945		$	29,082,134
Federal funds purchased		—			325			—			325			325
Securities sold under agreements to repurchase		—			660,126			—			660,126			660,126
Short-term FHLB Borrowings		—			700,215			—			700,215			700,000
Long-term debt		—			155,330			—			155,330			193,785
Derivative financial instruments		—			90,061			1,082			91,143			91,143


	December 31, 2025
($ in thousands)	Level 1			Level 2			Level 3			Total Fair Value			Carrying Amount
Financial assets:
Cash, interest-bearing bank deposits, and federal funds sold	$	695,032		$	229		$	—		$	695,261		$	695,261
Available for sale securities		—			5,961,917			—			5,961,917			5,961,917
Held to maturity securities		—			2,011,026			—			2,011,026			2,132,882
Loans, net		—			—			23,588,681			23,588,681			23,650,709
Loans held for sale		—			33,158			—			33,158			33,158
Derivative financial instruments		—			63,126			—			63,126			63,126
Financial liabilities:
Deposits	$	—		$	—		$	29,274,190		$	29,274,190		$	29,279,774
Federal funds purchased		—			70,400			—			70,400			70,400
Securities sold under agreements to repurchase		—			546,892			—			546,892			546,892
Short-term FHLB Borrowings		—			400,000			—			400,000			400,000
Long-term debt		—			162,257			—			162,257			199,407
Derivative financial instruments		—			94,083			1,284			95,367			95,367