XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.22.2.2

FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
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, 2022 and December 31, 2021 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at September 30, 2022 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 | ​ | $ | 56,073 | ​ | $ | 5,563 | ​ | $ | — | ​ | $ | 61,636
Obligations of states and political subdivisions | ​ |  | — | ​ |  | 764,543 | ​ |  | — | ​ |  | 764,543
Corporate and other bonds(1) | ​ |  | — | ​ |  | 231,088 | ​ |  | — | ​ |  | 231,088
MBS | ​ |  | — | ​ |  | 1,658,402 | ​ |  | — | ​ |  | 1,658,402
Other securities | ​ |  | — | ​ |  | 1,654 | ​ |  | — | ​ |  | 1,654
LHFS | ​ |  | — | ​ |  | 12,889 | ​ |  | — | ​ |  | 12,889
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate contracts(2) | ​ |  | — | ​ |  | 72,627 | ​ |  | — | ​ |  | 72,627
Fair value hedges | ​ |  | — | ​ |  | 4,511 | ​ |  | — | ​ |  | 4,511
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate contracts(2) | ​ | $ | — | ​ | $ | 242,969 | ​ | $ | — | ​ | $ | 242,969
Cash flow hedges | ​ |  | — | ​ |  | 7,735 | ​ |  | — | ​ |  | 7,735
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Other bonds include asset-backed securities. (2) Includes RPAs. ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at December 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 | ​ | $ | 64,474 | ​ | $ | 9,375 | ​ | $ | — | ​ | $ | 73,849
Obligations of states and political subdivisions | ​ | ​ | — | ​ | ​ | 1,008,396 | ​ | ​ | — | ​ | ​ | 1,008,396
Corporate and other bonds(1) | ​ |  | — | ​ |  | 153,376 | ​ |  | — | ​ |  | 153,376
MBS | ​ |  | — | ​ |  | 2,244,389 | ​ |  | — | ​ |  | 2,244,389
Other securities | ​ |  | — | ​ |  | 1,640 | ​ |  | — | ​ |  | 1,640
LHFS | ​ | ​ | — | ​ | ​ | 20,861 | ​ | ​ | — | ​ | ​ | 20,861
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate contracts | ​ |  | — | ​ |  | 73,696 | ​ |  | — | ​ |  | 73,696
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate contracts | ​ | $ | — | ​ | $ | 49,051 | ​ | $ | — | ​ | $ | 49,051
Fair value hedges | ​ |  | — | ​ |  | 5,387 | ​ |  | — | ​ |  | 5,387
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(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, 2022 and December 31, 2021 are as follows (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at September 30, 2022 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 | ​ | $ | 390,942 | ​ | $ | 390,942 | ​ | $ | — | ​ | $ | — | ​ | $ | 390,942
AFS securities | ​ |  | 2,717,323 | ​ |  | 56,073 | ​ |  | 2,661,250 | ​ |  | — | ​ |  | 2,717,323
HTM securities | ​ |  | 841,349 | ​ |  | — | ​ |  | 762,307 | ​ |  | 3,173 | ​ |  | 765,480
Restricted stock | ​ |  | 82,050 | ​ |  | — | ​ |  | 82,050 | ​ |  | — | ​ |  | 82,050
LHFS | ​ |  | 12,889 | ​ |  | — | ​ |  | 12,889 | ​ |  | — | ​ |  | 12,889
Net loans | ​ |  | 13,810,711 | ​ |  | — | ​ |  | — | ​ |  | 13,330,986 | ​ |  | 13,330,986
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate contracts(1) | ​ |  | 72,627 | ​ |  | — | ​ |  | 72,627 | ​ |  | — | ​ |  | 72,627
Fair value hedges | ​ |  | 4,511 | ​ |  | — | ​ |  | 4,511 | ​ |  | — | ​ |  | 4,511
Accrued interest receivable | ​ |  | 68,747 | ​ |  | — | ​ |  | 68,747 | ​ |  | — | ​ |  | 68,747
BOLI | ​ |  | 437,988 | ​ |  | — | ​ |  | 437,988 | ​ |  | — | ​ |  | 437,988
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 16,546,216 | ​ | $ | — | ​ | $ | 16,560,956 | ​ | $ | — | ​ | $ | 16,560,956
Borrowings | ​ |  | 669,558 | ​ |  | — | ​ |  | 605,018 | ​ |  | — | ​ |  | 605,018
Accrued interest payable | ​ |  | 3,910 | ​ |  | — | ​ |  | 3,910 | ​ |  | — | ​ |  | 3,910
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate contracts(1) | ​ |  | 242,969 | ​ |  | — | ​ |  | 242,969 | ​ |  | — | ​ |  | 242,969
Cash flow hedges | ​ |  | 7,735 | ​ |  | — | ​ |  | 7,735 | ​ |  | — | ​ |  | 7,735
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Includes RPAs. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at December 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 | ​ | $ | 802,501 | ​ | $ | 802,501 | ​ | $ | — | ​ | $ | — | ​ | $ | 802,501
AFS securities | ​ |  | 3,481,650 | ​ |  | 64,474 | ​ |  | 3,417,176 | ​ |  | — | ​ |  | 3,481,650
HTM securities | ​ |  | 628,000 | ​ |  | — | ​ |  | 686,733 | ​ |  | 7,041 | ​ |  | 693,774
Restricted stock | ​ |  | 76,825 | ​ |  | — | ​ |  | 76,825 | ​ |  | — | ​ |  | 76,825
LHFS | ​ | ​ | 20,861 | ​ | ​ | — | ​ |  | 20,861 | ​ |  | — | ​ | ​ | 20,861
Net loans | ​ |  | 13,096,056 | ​ |  | — | ​ |  | — | ​ |  | 12,861,274 | ​ |  | 12,861,274
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate contracts | ​ |  | 73,696 | ​ |  | — | ​ |  | 73,696 | ​ |  | — | ​ |  | 73,696
Accrued interest receivable | ​ |  | 65,015 | ​ |  | — | ​ |  | 65,015 | ​ |  | — | ​ |  | 65,015
BOLI | ​ |  | 431,517 | ​ |  | — | ​ |  | 431,517 | ​ |  | — | ​ |  | 431,517
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 16,611,068 | ​ | $ | — | ​ | $ | 16,630,087 | ​ | $ | — | ​ | $ | 16,630,087
Borrowings | ​ |  | 506,594 | ​ |  | — | ​ |  | 488,796 | ​ |  | — | ​ |  | 488,796
Accrued interest payable | ​ |  | 933 | ​ |  | — | ​ |  | 933 | ​ |  | — | ​ |  | 933
Derivatives: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate contracts | ​ |  | 49,051 | ​ |  | — | ​ |  | 49,051 | ​ |  | — | ​ |  | 49,051
Fair value hedges | ​ |  | 5,387 | ​ |  | — | ​ |  | 5,387 | ​ |  | — | ​ |  | 5,387

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 https://asc.fasb.org/extlink&oid=123594938&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + 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/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration