XML 43 R32.htm IDEA: XBRL DOCUMENT

Note 12 - Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

		*March 31, 2025*
		*Fair Value Measurements Using*												*Total Fair Value*
		*Level 1*				*Level 2*				*Level 3*				*Measurements*
		(In thousands)
Assets
Securities AFS
U.S. Treasury securities		$	541,644			$	—			$	—			$	541,644
U.S. government agency entities			—				8,723				—				8,723
Mortgage-backed securities			—				679,675				—				679,675
Collateralized mortgage obligations			—				24,663				—				24,663
Corporate debt securities			—				179,335				—				179,335
Total securities AFS			*541,644*				*892,396*				—				*1,434,040*

Equity securities
Mutual funds			5,615				—				—				5,615
Preferred stock of government sponsored entities			7,245				—				—				7,245
Other equity securities			15,839				—				—				15,839
Total equity securities			28,699				—				—				28,699

Interest rate swaps			—				32,468				—				32,468
Foreign exchange contracts			—				578				—				578
Total assets		$	570,343			$	925,442			$	—			$	1,495,785

Liabilities
Interest rate swaps		$	—			$	33,565			$	—			$	33,565
Foreign exchange contracts			—				324				—				324
Total liabilities		$	—			$	33,889			$	—			$	33,889

		*December 31, 2024*
		*Fair Value Measurements Using*												*Total Fair Value*
		*Level 1*				*Level 2*				*Level 3*				*Measurements*
		(In thousands)
Assets
Securities AFS
U.S. Treasury securities		$	621,462			$	—			$	—			$	621,462
U.S. government agency entities			—				9,149				—				9,149
Mortgage-backed securities			—				684,016				—				684,016
Collateralized mortgage obligations			—				24,556				—				24,556
Corporate debt securities			—				207,945				—				207,945
Total securities AFS			*621,462*				*925,666*				—				*1,547,128*

Equity securities
Mutual funds			5,532				—				—				5,532
Preferred stock of government sponsored entities			7,287				—				—				7,287
Other equity securities			20,071				—				—				20,071
Total equity securities			32,890				—				—				32,890

Interest rate swaps			—				39,958				—				39,958
Foreign exchange contracts			—				490				—				490
Total assets		$	654,352			$	966,114			$	—			$	1,620,466

Liabilities
Interest rate swaps		$	—			$	36,319			$	—			$	36,319
Foreign exchange contracts			—				785				—				785
Total liabilities		$	—			$	37,104			$	—			$	37,104

Fair Value Measurements, Nonrecurring [Table Text Block]

		*As of March 31, 2025*																*Total Losses*
		*Fair Value Measurements Using*												*Total Fair Value*				*For the Three Months Ended*
		*Level 1*				*Level 2*				*Level 3*				*Measurements*				*March 31, 2025*				*March 31, 2024*
		(In thousands)
Assets
Non-accrual loans by type:
Commercial loans		$	—			$	—			$	6,395			$	6,395			$	—			$	1,038
Commercial real estate loans			—				—				15,208				15,208				—				251
Residential mortgage loans and equity lines			—				—				236				236				—				—
Total non-accrual loans			—				—				21,839				21,839				—				1,289
Other real estate owned⁽¹⁾			—				—				19,600				19,600				—				—
Other equity securities			—				—				1,539				1,539				—				—
Investments in venture capital			—				—				84				84				—				—
Total assets		$	—			$	—			$	43,062			$	43,062			$	—			$	1,289

⁽¹⁾ Other real estate owned balance of $18.5 million in the Consolidated Balance Sheets is net of estimated disposal costs.

		*As of December 31, 2024*																*Total Losses*
		*Fair Value Measurements Using*												*Total Fair Value*				*For the Twelve Months Ended*
		*Level 1*				*Level 2*				*Level 3*				*Measurements*				*December 31, 2024*				*December 31, 2023*
		(In thousands)
Assets
Non-accrual loans by type:
Commercial loans		$	—			$	—			$	10,896			$	10,896			$	5,654			$	—
Commercial real estate loans			—				—				15,320				15,320				4,049				4,069
Commercial real estate loans			—				—				243				243				59				—
Total non-accrual loans			—				—				26,459				26,459				9,762				4,069
Other real estate owned ⁽¹⁾			—				—				24,126				24,126				—				—
Other equity securities			—				—				1,539				1,539				—				—
Investments in venture capital			—				—				86				86				147				227
Total assets		$	—			$	—			$	52,210			$	52,210			$	9,909			$	4,296

⁽¹⁾ Other real estate owned balance of $23.1 million in the Consolidated Balance Sheets is net of estimated disposal costs.

Fair Value, by Balance Sheet Grouping [Table Text Block]

		*March 31, 2025*								*December 31, 2024*
		*Carrying*								*Carrying*
		*Amount*				*Fair Value*				*Amount*				*Fair Value*
		(In thousands)
Financial Assets
Cash and due from banks		$	175,027			$	175,027			$	157,167			$	157,167
Short-term investments			1,209,487				1,209,487				882,353				882,353
Securities AFS			1,434,040				1,434,040				1,547,128				1,547,128
Loans held-for-sale			11,759				11,759				—				—
Loans held for investment, net			19,167,410				19,563,984				19,203,649				19,500,647
Equity securities			30,238				30,238				34,429				34,429
Investment in Federal Home Loan Bank stock			17,250				17,250				17,250				17,250

		*Notional*								*Notional*
		*Amount*				*Fair Value*				*Amount*				*Fair Value*
Foreign exchange contracts		$	155,622			$	578			$	62,794			$	490
Interest rate swaps			1,021,825				32,468				1,065,580				39,958

		*Carrying*								*Carrying*
		*Amount*				*Fair Value*				*Amount*				*Fair Value*
Financial Liabilities
Deposits		$	19,817,528			$	19,795,020			$	19,686,199			$	19,670,327
Advances from Federal Home Loan Bank			95,000				94,645				60,000				59,606
Other borrowings			17,696				15,446				17,740				15,281
Long-term debt			119,136				74,944				119,136				73,752

		*Notional*								*Notional*
		*Amount*				*Fair Value*				*Amount*				*Fair Value*
Foreign exchange contracts		$	87,174			$	324			$	171,945			$	785
Interest rate swaps			1,241,528				33,565				1,198,471				36,319

		*Notional*								*Notional*
		*Amount*				*Fair Value*				*Amount*				*Fair Value*
Off-Balance Sheet Financial Instruments
Commitments to extend credit		$	3,576,752			$	(20,113	)		$	3,470,296			$	(18,226	)
Standby letters of credit			444,189				(2,702	)			439,769				(2,900	)
Other letters of credit			10,645				(12	)			12,347				(14	)

Schedule Of Fair Value Of Financial Instruments [Table Text Block]

		*As of March 31, 2025*
		*Fair Value*				*Level 1*				*Level 2*				*Level 3*
		(In thousands)
Financial Assets
Cash and due from banks		$	175,027			$	175,027			$	—			$	—
Short-term investments			1,209,487				1,209,487				—				—
Loans held-for-sale			11,759				—				11,759				—
Loans held for investment, net			19,563,984				—				—				19,563,984
Equity securities			1,539				—				—				1,539
Investment in Federal Home Loan Bank stock			17,250				—				17,250				—
Financial Liabilities
Deposits			19,795,020				—				—				19,795,020
Advances from Federal Home Loan Bank			94,645				—				94,645				—
Other borrowings			15,446				—				—				15,446
Long-term debt			74,944				—				74,944				—

		*As of December 31, 2024*
		*Fair Value*				*Level 1*				*Level 2*				*Level 3*
		(In thousands)
Financial Assets
Cash and due from banks		$	157,167			$	157,167			$	—			$	—
Short-term investments			882,353				882,353				—				—
Loans held for investment, net			19,500,647				—				—				19,500,647
Equity securities			1,539				—				—				1,539
Investment in Federal Home Loan Bank stock			17,250				—				17,250				—
Financial Liabilities
Deposits			19,670,327				—				—				19,670,327
Advances from Federal Home Loan Bank			59,606				—				59,606				—
Other borrowings			15,281				—				—				15,281
Long-term debt			73,752				—				73,752				—