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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present assets and liabilities measured at fair value on a recurring basis and reported on the Consolidated Balance Sheets:

			September 30, 2025
			Level 1						Level 2						Level 3						Total
			(dollars in thousands)
Loans held for sale			$	—					$	19,875					$	—					$	19,875
AFS investment securities:
State and municipal securities			—						811,736						—						811,736
Corporate debt securities			—						255,039						—						255,039
Collateralized mortgage obligations			—						1,135,442						—						1,135,442
Residential mortgage-backed securities			—						858,992						—						858,992
Commercial mortgage-backed securities			—						532,867						—						532,867
Total AFS investment securities			—						3,594,076						—						3,594,076
Other assets:
Investments held in Rabbi Trust			39,004						—						—						39,004
Derivative assets			1,179						128,620						—						129,799
Total assets			$	40,183					$	3,742,571					$	—					$	3,782,754
Other liabilities:
Deferred compensation liabilities			$	39,004					$	—					$	—					$	39,004
Derivative liabilities			970						177,633						—						178,603
Total liabilities			$	39,974					$	177,633					$	—					$	217,607

			December 31, 2024
			Level 1						Level 2						Level 3						Total
			(dollars in thousands)
Loans held for sale			$	—					$	25,618					$	—					$	25,618
AFS investment securities:
State and municipal securities			—						814,887						—						814,887
Corporate debt securities			—						300,370						—						300,370
Collateralized mortgage obligations			—						788,885						—						788,885
Residential mortgage-backed securities			—						989,875						—						989,875
Commercial mortgage-backed securities			—						516,882						—						516,882
Total AFS investment securities			—						3,410,899						—						3,410,899
Other assets:
Investments held in Rabbi Trust			35,093						—						—						35,093
Derivative assets			1,682						159,939						—						161,621
Total assets			$	36,775					$	3,596,456					$	—					$	3,633,231
Other liabilities:
Deferred compensation liabilities			$	35,093					$	—					$	—					$	35,093
Derivative liabilities			1,596						252,821						—						254,417
Total liabilities			$	36,689					$	252,821					$	—					$	289,510

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

The following table presents Level 3 financial assets measured at fair value on a nonrecurring basis:

			September 30, 2025						December 31, 2024
			(dollars in thousands)
Loans, Net			$	132,833					$	168,668
OREO			2,305						2,621
MSRs(1)			50,731						53,972
SBA servicing asset			2,495						3,120
Total assets			$	188,364					$	228,381

(1) Amounts shown are estimated fair value. MSRs are recorded on the Corporation's Consolidated Balance Sheets at the lower of amortized cost or fair value.

See "Note 6 - Mortgage Servicing Rights" for additional information.

Details of Book Value and Fair Value of Financial Instruments

The following tables detail the book values and the estimated fair values of the Corporation's financial instruments:

			September 30, 2025
						Estimated Fair Value
			Carrying Amount			Level 1			Level 2			Level 3			Total
			(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents			$	814,197		$	814,197		$	—		$	—		$	814,197
FRB and FHLB stock			136,181			—			136,181			—			136,181
Loans held for sale			19,875			—			19,875			—			19,875
AFS investment securities			3,594,076			—			3,594,076			—			3,594,076
HTM investment securities			1,451,194			—			1,285,350			—			1,285,350
Loans, net			23,665,231			—			—			22,658,165			22,658,165
Accrued interest receivable			114,003			114,003			—			—			114,003
Other assets			723,378			556,827			131,831			55,531			744,189
FINANCIAL LIABILITIES
Demand and savings deposits			$	21,589,281		$	21,589,281		$	—		$	—		$	21,589,281
Brokered deposits			709,667			73,980			635,766			—			709,746
Time deposits			4,033,542			—			4,029,096			—			4,029,096
Accrued interest payable			22,583			22,583			—			—			22,583
FHLB advances			450,000			452,489			—			—			452,489
Senior debt and subordinated debt			367,557			—			357,016			—			357,016
Other borrowings			654,404			635,717			985			—			636,702
Other liabilities			394,603			202,396			177,633			14,575			394,604

			December 31, 2024
						Estimated Fair Value
			Carrying Amount			Level 1			Level 2			Level 3			Total
			(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents			$	1,063,871		$	1,063,871		$	—		$	—		$	1,063,871
FRB and FHLB stock			139,574			—			139,574			—			139,574
Loans held for sale			25,618			—			25,618			—			25,618
AFS investment securities			3,410,899			—			3,410,899			—			3,410,899
HTM investment securities			1,395,569			—			1,183,449			—			1,183,449
Loans, net			23,665,763			—			—			22,555,687			22,555,687
Accrued interest receivable			117,029			117,029			—			—			117,029
Other assets			736,502			543,251			159,939			59,713			762,903
FINANCIAL LIABILITIES
Demand and savings deposits			$	21,135,478		$	21,135,478		$	—		$	—		$	21,135,478
Brokered deposits			843,857			145,056			698,647			—			843,703
Time deposits			4,150,098			—			4,154,726			—			4,154,726
Accrued interest payable			31,620			31,620			—			—			31,620
FHLB advances			850,000			851,470			—			—			851,470
Senior debt and subordinated debt			367,316			—			253,818			—			253,818
Other borrowings			564,732			544,908			901			—			545,809
Other liabilities			467,011			200,029			252,821			14,161			467,011

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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