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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis are as follows:

						Fair Value Measurements at Reporting Date Using
As of September 30, 2025			Fair Value			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Investment debt securities available-for-sale:
U.S. Treasury notes			$	235.8		$			—			$	235.8		$			—
State, county, and municipal securities			218.2						—			218.2						—
Obligations of U.S. government agencies			201.9						—			201.9						—
U.S. agency commercial mortgage-backed securities			900.3						—			900.3						—
U.S. agency residential mortgage-backed securities			1,370.8						—			1,370.8						—
U.S. agency collateralized mortgage obligations			956.3						—			956.3						—
Private mortgage-backed securities			178.0						—			178.0						—
Collateralized loan obligations			671.9						—			671.9						—
Corporate securities			162.3						—			162.3						—
Loans held for sale			0.6						—			0.6						—
Derivative assets:
Interest rate swap contracts			26.9						—			26.9						—
Derivative liabilities:
Interest rate collars			—						—			—						—
Interest rate swap contracts			81.0						—			81.0						—
Deferred compensation plan assets			22.4						22.4			—						—

						Fair Value Measurements at Reporting Date Using
As of December 31, 2024			Fair Value			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Investment debt securities available-for-sale:
U.S. Treasury notes			$	226.9		$			—			$	226.9		$			—
State, county and municipal securities			212.0						—			212.0						—
Obligations of U.S. government agencies			213.3						—			213.3						—
U.S. agency commercial mortgage-backed securities			982.8						—			982.8						—
U.S. agency residential mortgage-backed securities			1,175.8						—			1,175.8						—
U.S. agency collateralized mortgage obligations			1,050.9						—			1,050.9						—
Private mortgage-backed securities			190.5						—			190.5						—
Collateralized loan obligations			772.0						—			772.0						—
Corporate securities			232.9						—			232.9						—
Loans held for sale			0.9						—			0.9						—
Derivative assets:
Interest rate swap contracts			44.9						—			44.9						—
Derivative liabilities
Interest rate collars			1.0						—			1.0						—
Interest rate swap contracts			132.8						—			132.8						—
Deferred compensation plan assets			22.7						22.7			—						—

Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Non-Recurring Basis

The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis with an adjustment during the period presented. The fair values may not be current as of the reporting date but represent fair values as of the most recent fair value change that occurred with the reporting period. Accordingly, carrying values may not equal the current fair value:

As of September 30, 2025			Fair Value			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Collateral-dependent loans			$	22.8		$			—			$			—			$	22.8
Loans held for sale			259.8						—						—			259.8
Long-lived assets to be disposed of by sale			5.1						—						—			5.1
As of December 31, 2024
Collateral-dependent loans			$	97.6		$			—			$			—			$	97.6

Fair Value Inputs, Assets, Quantitative Information

The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair values:

As of September 30, 2025			Fair Value			Valuation Technique			Unobservable Inputs			Range (Weighted Average)
Collateral-dependent loans			$	22.8		Appraisal			Appraisal adjustment			5%			-			73%			(55%)
Loans held for sale			259.8			Fair value of collateral			Discount for type of property, age of appraisal, and current status			—%			-			7%			(2)%
Long-lived assets to be disposed of by sale			5.1			Appraisal			Appraisal adjustment			—%			-			—%			—%
As of December 31, 2024
Collateral-dependent loans			$	97.6		Appraisal			Appraisal adjustment			—%			-			87%			(40%)

Fair Value, by Balance Sheet Grouping

The estimated fair values of financial instruments that are reported in the Company’s consolidated balance sheets, and are segregated by the level of the valuation inputs within the fair value hierarchy that are utilized to measure fair value, are as follows:

									Fair Value Measurements at Reporting Date Using
As of September 30, 2025			Carrying Amount			Estimated Fair Value			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents			$	1,449.2		$	1,449.2		$	1,449.2		$	—		$	—
Investment debt securities held-to-maturity			2,410.3			2,185.4			—			2,185.4			—
Accrued interest receivable			106.6			106.6			—			106.6			—
Mortgage servicing rights, net			23.8			34.2			—			—			34.2
Net loans held for investment			15,628.6			15,330.7			—			—			15,330.7
Total financial assets			$	19,618.5		$	19,106.1		$	1,449.2		$	2,292.0		$	15,364.9
Financial liabilities:
Total deposits, excluding time deposits			$	19,834.4		$	19,834.4		$	19,834.4		$	—		$	—
Time deposits			2,770.6			2,758.9			—			2,758.9			—
Securities sold under repurchase agreements			485.2			485.2			—			485.2			—
Accrued interest payable			42.4			42.4			—			42.4			—
Long-term debt			146.2			153.4			—			153.4			—
Subordinated debentures held by subsidiary trusts			163.1			150.3			—			150.3			—
Total financial liabilities			$	23,441.9		$	23,424.6		$	19,834.4		$	3,590.2		$	—

									Fair Value Measurements at Reporting Date Using
As of December 31, 2024			Carrying Amount			Estimated Fair Value			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents			$	896.6		$	896.6		$	896.6		$	—		$	—
Investment debt securities held-to-maturity			2,687.5			2,358.6			—			2,358.6			—
Accrued interest receivable			116.8			116.8			—			116.8			—
Mortgage servicing rights, net			25.7			35.4			—			—			35.4
Net loans held for investment			17,640.8			17,154.7			—			—			17,154.7
Total financial assets			$	21,367.4		$	20,562.1		$	896.6		$	2,475.4		$	17,190.1
Financial liabilities:
Total deposits, excluding time deposits			$	20,125.1		$	20,125.1		$	20,125.1		$	—		$	—
Time deposits			2,890.5			2,875.5			—			2,875.5			—
Securities sold under repurchase agreements			523.9			523.9			—			523.9			—
Other borrowed funds			1,567.5			1,567.5			—			1,567.5			—
Accrued interest payable			47.0			47.0			—			47.0			—
Long-term debt			132.2			131.9			—			131.9			—
Subordinated debentures held by subsidiary trusts			163.1			152.3			—			152.3			—
Total financial liabilities			$	25,449.3		$	25,423.2		$	20,125.1		$	5,298.1		$	—

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
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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
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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.

+ References

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-Name Accounting Standards Codification
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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
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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