XML 46 R35.htm IDEA: XBRL DOCUMENT
v3.20.2

FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis at September 30, 2020 and December 31, 2019 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at September 30, 2020 using
​ |  | ​ | ​ |  | Significant |  | ​ | ​ |  | ​ | ​
​ | ​ | Quoted Prices in | ​ | Other | ​ | Significant | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs | ​ | ​ | ​
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Balance
ASSETS | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
AFS securities: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. government and agency securities | ​ | $ | — | ​ | $ | 13,878 | ​ | $ | — | ​ | $ | 13,878
Obligations of states and political subdivisions | ​ |  | — | ​ |  | 796,856 | ​ |  | — | ​ |  | 796,856
Corporate and other bonds(1) | ​ |  | — | ​ |  | 148,918 | ​ |  | — | ​ |  | 148,918
Mortgage-backed securities | ​ |  | — | ​ |  | 1,482,067 | ​ |  | — | ​ |  | 1,482,067
Other securities | ​ |  | — | ​ |  | 1,621 | ​ |  | — | ​ |  | 1,621
Loans held for sale | ​ |  | — | ​ |  | 52,607 | ​ |  | — | ​ |  | 52,607
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | — | ​ |  | 187,299 | ​ |  | — | ​ |  | 187,299
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ | $ | — | ​ | $ | 187,299 | ​ | $ | — | ​ | $ | 187,299
Fair value hedges | ​ |  | — | ​ |  | 13,912 | ​ |  | — | ​ |  | 13,912
(1) | Other bonds include asset-backed securities.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at December 31, 2019 using
​ |  | ​ | ​ |  | Significant |  | ​ | ​ |  | ​ | ​
​ | ​ | Quoted Prices in | ​ | Other | ​ | Significant | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs | ​ | ​ | ​
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Balance
ASSETS | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
AFS securities: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. government and agency securities | ​ | $ | — | ​ | $ | 21,320 | ​ | $ | — | ​ | $ | 21,320
Obligations of states and political subdivisions | ​ | ​ | — | ​ | ​ | 447,091 | ​ | ​ | — | ​ | ​ | 447,091
Corporate and other bonds(1) | ​ |  | — | ​ |  | 135,959 | ​ |  | — | ​ |  | 135,959
Mortgage-backed securities | ​ |  | — | ​ |  | 1,337,996 | ​ |  | — | ​ |  | 1,337,996
Other securities | ​ |  | — | ​ |  | 3,079 | ​ |  | — | ​ |  | 3,079
Loans held for sale | ​ | ​ | — | ​ | ​ | 55,405 | ​ | ​ | — | ​ | ​ | 55,405
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | — | ​ |  | 54,345 | ​ |  | — | ​ |  | 54,345
Fair value hedges | ​ |  | — | ​ |  | 182 | ​ |  | — | ​ |  | 182
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ | $ | — | ​ | $ | 54,345 | ​ | $ | — | ​ | $ | 54,345
Cash flow hedges | ​ |  | — | ​ |  | 1,147 | ​ |  | — | ​ |  | 1,147
Fair value hedges | ​ |  | — | ​ |  | 6,256 | ​ |  | — | ​ |  | 6,256
(1) | Other bonds include asset-backed securities.
Carrying Values and Estimated Fair Values of the Company's Financial Instruments | The carrying values and estimated fair values of the Company’s financial instruments at September 30, 2020 and December 31, 2019 are as follows (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at September 30, 2020 using
​ |  | ​ | ​ |  | Quoted Prices |  | Significant |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | in Active | ​ | Other | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Markets for | ​ | Observable | ​ | Unobservable | ​ | Total Fair
​ | ​ | ​ | ​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs | ​ | Value
​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Balance
ASSETS | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 520,966 | ​ | $ | 520,966 | ​ | $ | — | ​ | $ | — | ​ | $ | 520,966
AFS securities | ​ |  | 2,443,340 | ​ |  | — | ​ |  | 2,443,340 | ​ |  | — | ​ |  | 2,443,340
HTM securities | ​ |  | 546,661 | ​ |  | — | ​ |  | 600,679 | ​ |  | 13,494 | ​ |  | 614,173
Restricted stock | ​ |  | 112,216 | ​ |  | — | ​ |  | 112,216 | ​ |  | — | ​ |  | 112,216
Loans held for sale | ​ |  | 52,607 | ​ |  | — | ​ |  | 52,607 | ​ |  | — | ​ |  | 52,607
Net loans | ​ |  | 14,209,093 | ​ |  | — | ​ |  | — | ​ |  | 14,102,010 | ​ |  | 14,102,010
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | 187,299 | ​ |  | — | ​ |  | 187,299 | ​ |  | — | ​ |  | 187,299
Accrued interest receivable | ​ |  | 71,475 | ​ |  | — | ​ |  | 71,475 | ​ |  | — | ​ |  | 71,475
BOLI | ​ |  | 325,538 | ​ |  | — | ​ |  | 325,538 | ​ |  | — | ​ |  | 325,538
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 15,576,098 | ​ | $ | — | ​ | $ | 15,624,786 | ​ | $ | — | ​ | $ | 15,624,786
Borrowings | ​ |  | 1,314,322 | ​ |  | — | ​ |  | 1,279,838 | ​ |  | — | ​ |  | 1,279,838
Accrued interest payable | ​ |  | 5,126 | ​ |  | — | ​ |  | 5,126 | ​ |  | — | ​ |  | 5,126
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | 187,299 | ​ |  | — | ​ |  | 187,299 | ​ |  | — | ​ |  | 187,299
Fair value hedges | ​ |  | 13,912 | ​ |  | — | ​ |  | 13,912 | ​ |  | — | ​ |  | 13,912
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at December 31, 2019 using
​ | ​ | ​ | ​ | ​ | Quoted Prices | ​ | Significant | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | in Active | ​ | Other | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Markets for | ​ | Observable | ​ | Unobservable | ​ | Total Fair
​ | ​ | ​ | ​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs | ​ | Value
​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Balance
ASSETS | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 436,032 | ​ | $ | 436,032 | ​ | $ | — | ​ | $ | — | ​ | $ | 436,032
AFS securities | ​ |  | 1,945,445 | ​ |  | — | ​ |  | 1,945,445 | ​ |  | — | ​ |  | 1,945,445
HTM securities | ​ |  | 555,144 | ​ |  | — | ​ |  | 585,820 | ​ |  | 17,683 | ​ |  | 603,503
Restricted stock | ​ |  | 130,848 | ​ |  | — | ​ |  | 130,848 | ​ |  | — | ​ |  | 130,848
Loans held for sale | ​ | ​ | 55,405 | ​ | ​ | — | ​ |  | 55,405 | ​ |  | — | ​ | ​ | 55,405
Net loans | ​ |  | 12,568,642 | ​ |  | — | ​ |  | — | ​ |  | 12,449,505 | ​ |  | 12,449,505
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | 54,345 | ​ |  | — | ​ |  | 54,345 | ​ |  | — | ​ |  | 54,345
Fair value hedges | ​ |  | 182 | ​ |  | — | ​ |  | 182 | ​ |  | — | ​ |  | 182
Accrued interest receivable | ​ |  | 52,721 | ​ |  | — | ​ |  | 52,721 | ​ |  | — | ​ |  | 52,721
BOLI | ​ |  | 322,917 | ​ |  | — | ​ |  | 322,917 | ​ |  | — | ​ |  | 322,917
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 13,304,981 | ​ | $ | — | ​ | $ | 13,349,943 | ​ | $ | — | ​ | $ | 13,349,943
Borrowings | ​ |  | 1,513,748 | ​ |  | — | ​ |  | 1,479,606 | ​ |  | — | ​ |  | 1,479,606
Accrued interest payable | ​ |  | 6,108 | ​ |  | — | ​ |  | 6,108 | ​ |  | — | ​ |  | 6,108
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | 54,345 | ​ |  | — | ​ |  | 54,345 | ​ |  | — | ​ |  | 54,345
Cash flow hedges | ​ |  | 1,147 | ​ |  | — | ​ |  | 1,147 | ​ |  | — | ​ |  | 1,147
Fair value hedges | ​ |  | 6,256 | ​ |  | — | ​ |  | 6,256 | ​ |  | — | ​ |  | 6,256

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 -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration