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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 31, 2021
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 March 31, 2021 and December 31, 2020 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at March 31, 2021 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 | ​ | $ | — | ​ | $ | 11,677 | ​ | $ | — | ​ | $ | 11,677
Obligations of states and political subdivisions | ​ |  | — | ​ |  | 899,098 | ​ |  | — | ​ |  | 899,098
Corporate and other bonds(1) | ​ |  | — | ​ |  | 147,608 | ​ |  | — | ​ |  | 147,608
Mortgage-backed securities | ​ |  | — | ​ |  | 1,637,035 | ​ |  | — | ​ |  | 1,637,035
Other securities | ​ |  | — | ​ |  | 1,625 | ​ |  | — | ​ |  | 1,625
Loans held for sale | ​ |  | — | ​ |  | 49,082 | ​ |  | — | ​ |  | 49,082
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | — | ​ |  | 106,450 | ​ |  | — | ​ |  | 106,450
Fair value hedges | ​ |  | — | ​ |  | 2,139 | ​ |  | — | ​ |  | 2,139
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ | $ | — | ​ | $ | 106,450 | ​ | $ | — | ​ | $ | 106,450
Cash flow hedges | ​ |  | — | ​ |  | 1,808 | ​ |  | — | ​ |  | 1,808
Fair value hedges | ​ |  | — | ​ |  | 7,949 | ​ |  | — | ​ |  | 7,949
(1) | Other bonds include asset-backed securities.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at December 31, 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 | ​ | $ | — | ​ | $ | 13,394 | ​ | $ | — | ​ | $ | 13,394
Obligations of states and political subdivisions | ​ | ​ | — | ​ | ​ | 837,326 | ​ | ​ | — | ​ | ​ | 837,326
Corporate and other bonds(1) | ​ |  | — | ​ |  | 151,078 | ​ |  | — | ​ |  | 151,078
Mortgage-backed securities | ​ |  | — | ​ |  | 1,536,996 | ​ |  | — | ​ |  | 1,536,996
Other securities | ​ |  | — | ​ |  | 1,625 | ​ |  | — | ​ |  | 1,625
Loans held for sale | ​ | ​ | — | ​ | ​ | 96,742 | ​ | ​ | — | ​ | ​ | 96,742
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | — | ​ |  | 163,360 | ​ |  | — | ​ |  | 163,360
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ | $ | — | ​ | $ | 163,360 | ​ | $ | — | ​ | $ | 163,360
Fair value hedges | ​ |  | — | ​ |  | 12,483 | ​ |  | — | ​ |  | 12,483
(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 March 31, 2021 and December 31, 2020 are as follows (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at March 31, 2021 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 | ​ | $ | 400,880 | ​ | $ | 400,880 | ​ | $ | — | ​ | $ | — | ​ | $ | 400,880
AFS securities | ​ |  | 2,697,043 | ​ |  | — | ​ |  | 2,697,043 | ​ |  | — | ​ |  | 2,697,043
HTM securities | ​ |  | 543,575 | ​ |  | — | ​ |  | 593,589 | ​ |  | 12,770 | ​ |  | 606,359
Restricted stock | ​ |  | 76,824 | ​ |  | — | ​ |  | 76,824 | ​ |  | — | ​ |  | 76,824
Loans held for sale | ​ |  | 49,082 | ​ |  | — | ​ |  | 49,082 | ​ |  | — | ​ |  | 49,082
Net loans | ​ |  | 14,129,369 | ​ |  | — | ​ |  | — | ​ |  | 13,950,754 | ​ |  | 13,950,754
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | 106,450 | ​ |  | — | ​ |  | 106,450 | ​ |  | — | ​ |  | 106,450
Fair value hedges | ​ |  | 2,139 | ​ |  | — | ​ |  | 2,139 | ​ |  | — | ​ |  | 2,139
Accrued interest receivable | ​ |  | 74,603 | ​ |  | — | ​ |  | 74,603 | ​ |  | — | ​ |  | 74,603
BOLI | ​ |  | 328,627 | ​ |  | — | ​ |  | 328,627 | ​ |  | — | ​ |  | 328,627
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 16,298,017 | ​ | $ | — | ​ | $ | 16,328,962 | ​ | $ | — | ​ | $ | 16,328,962
Borrowings | ​ |  | 563,600 | ​ |  | — | ​ |  | 538,488 | ​ |  | — | ​ |  | 538,488
Accrued interest payable | ​ |  | 3,561 | ​ |  | — | ​ |  | 3,561 | ​ |  | — | ​ |  | 3,561
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | 106,450 | ​ |  | — | ​ |  | 106,450 | ​ |  | — | ​ |  | 106,450
Cash flow hedges | ​ |  | 1,808 | ​ |  | — | ​ |  | 1,808 | ​ |  | — | ​ |  | 1,808
Fair value hedges | ​ |  | 7,949 | ​ |  | — | ​ |  | 7,949 | ​ |  | — | ​ |  | 7,949
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at December 31, 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 | ​ | $ | 493,294 | ​ | $ | 493,294 | ​ | $ | — | ​ | $ | — | ​ | $ | 493,294
AFS securities | ​ |  | 2,540,419 | ​ |  | — | ​ |  | 2,540,419 | ​ |  | — | ​ |  | 2,540,419
HTM securities | ​ |  | 544,851 | ​ |  | — | ​ |  | 606,496 | ​ |  | 13,269 | ​ |  | 619,765
Restricted stock | ​ |  | 94,782 | ​ |  | — | ​ |  | 94,782 | ​ |  | — | ​ |  | 94,782
Loans held for sale | ​ | ​ | 96,742 | ​ | ​ | — | ​ |  | 96,742 | ​ |  | — | ​ | ​ | 96,742
Net loans | ​ |  | 13,860,774 | ​ |  | — | ​ |  | — | ​ |  | 13,710,640 | ​ |  | 13,710,640
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | 163,360 | ​ |  | — | ​ |  | 163,360 | ​ |  | — | ​ |  | 163,360
Accrued interest receivable | ​ |  | 75,757 | ​ |  | — | ​ |  | 75,757 | ​ |  | — | ​ |  | 75,757
BOLI | ​ |  | 326,892 | ​ |  | — | ​ |  | 326,892 | ​ |  | — | ​ |  | 326,892
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 15,722,765 | ​ | $ | — | ​ | $ | 15,763,991 | ​ | $ | — | ​ | $ | 15,763,991
Borrowings | ​ |  | 840,717 | ​ |  | — | ​ |  | 821,516 | ​ |  | — | ​ |  | 821,516
Accrued interest payable | ​ |  | 2,516 | ​ |  | — | ​ |  | 2,516 | ​ |  | — | ​ |  | 2,516
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swap | ​ |  | 163,360 | ​ |  | — | ​ |  | 163,360 | ​ |  | — | ​ |  | 163,360
Fair value hedges | ​ |  | 12,483 | ​ |  | — | ​ |  | 12,483 | ​ |  | — | ​ |  | 12,483

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- 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
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- 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
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