XML 43 R32.htm IDEA: XBRL DOCUMENT
v3.23.3

FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
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, 2023 and December 31, 2022 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at September 30, 2023 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 | ​ | $ | 59,568 | ​ | $ | 2,270 | ​ | $ | — | ​ | $ | 61,838
Obligations of states and political subdivisions | ​ |  | — | ​ |  | 417,460 | ​ |  | — | ​ |  | 417,460
Corporate and other bonds(1) | ​ |  | — | ​ |  | 242,818 | ​ |  | — | ​ |  | 242,818
MBS | ​ |  | — | ​ |  | 1,361,085 | ​ |  | — | ​ |  | 1,361,085
Other securities | ​ |  | — | ​ |  | 1,727 | ​ |  | — | ​ |  | 1,727
LHFS | ​ |  | — | ​ |  | 6,608 | ​ |  | — | ​ |  | 6,608
Financial Derivatives(2) | ​ |  | — | ​ |  | 123,019 | ​ |  | — | ​ |  | 123,019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Derivatives(2) | ​ | $ | — | ​ | $ | 291,769 | ​ | $ | — | ​ | $ | 291,769
(1) Other bonds include asset-backed securities. (2) Includes hedged and non-hedged derivatives. ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at December 31, 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 | ​ | $ | 56,606 | ​ | $ | 5,337 | ​ | $ | — | ​ | $ | 61,943
Obligations of states and political subdivisions | ​ | ​ | — | ​ | ​ | 807,435 | ​ | ​ | — | ​ | ​ | 807,435
Corporate and other bonds(1) | ​ |  | — | ​ |  | 226,380 | ​ |  | — | ​ |  | 226,380
MBS | ​ |  | — | ​ |  | 1,644,394 | ​ |  | — | ​ |  | 1,644,394
Other securities | ​ |  | — | ​ |  | 1,664 | ​ |  | — | ​ |  | 1,664
LHFS | ​ | ​ | — | ​ | ​ | 3,936 | ​ | ​ | — | ​ | ​ | 3,936
Financial Derivatives(2) | ​ |  | — | ​ |  | 80,310 | ​ |  | — | ​ |  | 80,310
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Financial Derivatives(2) | ​ | $ | — | ​ | $ | 236,000 | ​ | $ | — | ​ | $ | 236,000
(1) Other bonds include asset-backed securities. (2) Includes hedged and non-hedged derivatives.
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, 2023 and December 31, 2022 are as follows (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at September 30, 2023 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 | ​ | $ | 398,945 | ​ | $ | 398,945 | ​ | $ | — | ​ | $ | — | ​ | $ | 398,945
AFS securities | ​ |  | 2,084,928 | ​ |  | 59,568 | ​ |  | 2,025,360 | ​ |  | — | ​ |  | 2,084,928
HTM securities | ​ |  | 843,269 | ​ |  | — | ​ |  | 760,786 | ​ |  | 1,260 | ​ |  | 762,046
Restricted stock | ​ |  | 104,785 | ​ |  | — | ​ |  | 104,785 | ​ |  | — | ​ |  | 104,785
LHFS | ​ |  | 6,608 | ​ |  | — | ​ |  | 6,608 | ​ |  | — | ​ |  | 6,608
LHFI, net of deferred fees and costs | ​ |  | 15,283,620 | ​ |  | — | ​ |  | — | ​ |  | 14,712,224 | ​ |  | 14,712,224
Financial Derivatives(1) | ​ |  | 123,019 | ​ |  | — | ​ |  | 123,019 | ​ |  | — | ​ |  | 123,019
Accrued interest receivable | ​ |  | 85,663 | ​ |  | — | ​ |  | 85,663 | ​ |  | — | ​ |  | 85,663
BOLI | ​ |  | 449,452 | ​ |  | — | ​ |  | 449,452 | ​ |  | — | ​ |  | 449,452
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 16,786,505 | ​ | $ | — | ​ | $ | 16,758,971 | ​ | $ | — | ​ | $ | 16,758,971
Borrowings | ​ |  | 1,020,669 | ​ |  | — | ​ |  | 947,640 | ​ |  | — | ​ |  | 947,640
Accrued interest payable | ​ |  | 17,046 | ​ |  | — | ​ |  | 17,046 | ​ |  | — | ​ |  | 17,046
Financial Derivatives(1) | ​ |  | 291,769 | ​ |  | — | ​ |  | 291,769 | ​ |  | — | ​ |  | 291,769
(1) Includes hedged and non-hedged derivatives. ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements at December 31, 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 | ​ | $ | 319,948 | ​ | $ | 319,948 | ​ | $ | — | ​ | $ | — | ​ | $ | 319,948
AFS securities | ​ |  | 2,741,816 | ​ |  | 56,606 | ​ |  | 2,685,210 | ​ |  | — | ​ |  | 2,741,816
HTM securities | ​ |  | 847,732 | ​ |  | — | ​ |  | 798,778 | ​ |  | 3,109 | ​ |  | 801,887
Restricted stock | ​ |  | 120,213 | ​ |  | — | ​ |  | 120,213 | ​ |  | — | ​ |  | 120,213
LHFS | ​ | ​ | 3,936 | ​ | ​ | — | ​ |  | 3,936 | ​ |  | — | ​ | ​ | 3,936
LHFI, net of deferred fees and costs | ​ |  | 14,449,142 | ​ |  | — | ​ |  | — | ​ |  | 13,974,926 | ​ |  | 13,974,926
Financial Derivatives(1) | ​ |  | 80,310 | ​ |  | — | ​ |  | 80,310 | ​ |  | — | ​ |  | 80,310
Accrued interest receivable | ​ |  | 81,953 | ​ |  | — | ​ |  | 81,953 | ​ |  | — | ​ |  | 81,953
BOLI | ​ |  | 440,656 | ​ |  | — | ​ |  | 440,656 | ​ |  | — | ​ |  | 440,656
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 15,931,677 | ​ | $ | — | ​ | $ | 15,927,361 | ​ | $ | — | ​ | $ | 15,927,361
Borrowings | ​ |  | 1,708,700 | ​ |  | — | ​ |  | 1,645,095 | ​ |  | — | ​ |  | 1,645,095
Accrued interest payable | ​ |  | 5,268 | ​ |  | — | ​ |  | 5,268 | ​ |  | — | ​ |  | 5,268
Financial Derivatives(1) | ​ |  | 236,000 | ​ |  | — | ​ |  | 236,000 | ​ |  | — | ​ |  | 236,000
(1) Includes hedged and non-hedged derivatives.

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 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: 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/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration