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Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2018
Fair Value |
Schedule of assets and liabilities measured at fair value on a recurring basis |
|  | Fair Value Measurements as of June 30, 2018
|  | Quoted Prices in |  | Significant |  |  |  |
|  | Active Markets for |  | Other |  | Significant |  |
|  | Identical Assets |  | Observable |  | Unobservable |  |
(dollars in thousands) |  | (Level 1) |  | Inputs (Level 2) |  | Inputs (Level 3) |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | — |  | $ | 386,057 |  | $ | — |  | $ | 386,057
Government-sponsored enterprises debt securities |  |  | — |  |  | 238,527 |  |  | — |  |  | 238,527
Government agency mortgage-backed securities(1) |  |  | — |  |  | 438,850 |  |  | — |  |  | 438,850
Government-sponsored enterprises mortgage-backed securities(1) |  |  | — |  |  | 161,241 |  |  | — |  |  | 161,241
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |
Government agency |  |  | — |  |  | 2,924,806 |  |  | — |  |  | 2,924,806
Government-sponsored enterprises |  |  | — |  |  | 673,254 |  |  | — |  |  | 673,254
Debt securities issued by states and political subdivisions |  |  | — |  |  | 19,816 |  |  | — |  |  | 19,816
Total available-for-sale securities |  |  | — |  |  | 4,842,551 |  |  | — |  |  | 4,842,551
Other assets(2) |  |  | — |  |  | 5,384 |  |  | — |  |  | 5,384
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Other liabilities(3) |  |  | — |  |  | (23,313) |  |  | (4,114) |  |  | (27,427)
Total |  | $ | — |  | $ | 4,824,622 |  | $ | (4,114) |  | $ | 4,820,508
|  | Fair Value Measurements as of December 31, 2017
|  | Quoted Prices in |  | Significant |  |  |  |  |
|  | Active Markets for |  | Other |  | Significant |  |
|  | Identical Assets |  | Observable |  | Unobservable |  |
(dollars in thousands) |  | (Level 1) |  | Inputs (Level 2) |  | Inputs (Level 3) |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | — |  | $ | 392,255 |  | $ | — |  | $ | 392,255
Government-sponsored enterprises debt securities |  |  | — |  |  | 242,601 |  |  | — |  |  | 242,601
Government agency mortgage-backed securities(1) |  |  | — |  |  | 351,390 |  |  | — |  |  | 351,390
Government-sponsored enterprises mortgage-backed securities(1) |  |  | — |  |  | 174,741 |  |  | — |  |  | 174,741
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |
Government agency |  |  | — |  |  | 3,290,474 |  |  | — |  |  | 3,290,474
Government-sponsored enterprises |  |  | — |  |  | 762,718 |  |  | — |  |  | 762,718
Debt securities issued by states and political subdivisions |  |  | — |  |  | 20,479 |  |  | — |  |  | 20,479
Total available-for-sale securities |  |  | — |  |  | 5,234,658 |  |  | — |  |  | 5,234,658
Other assets(2) |  |  | — |  |  | 14,682 |  |  | — |  |  | 14,682
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Other liabilities(3) |  |  | — |  |  | (15,049) |  |  | (5,439) |  |  | (20,488)
Total |  | $ | — |  | $ | 5,234,291 |  | $ | (5,439) |  | $ | 5,228,852
| (1) |  | Backed by residential real estate.
| (2) |  | Other assets include derivative assets.
| (3) |  | Other liabilities include derivative liabilities.
Summary of changes in Level 3 liabilities measured at fair value on a recurring basis |
|  | Visa Derivative
(dollars in thousands) |  | 2018 |  | 2017
Three Months Ended June 30, |  |  |  |  |  |
Balance as of April 1, |  | $ | (4,845) |  | $ | (6,987)
Total net gains (losses) included in other noninterest income |  |  | 4 |  |  | (35)
Settlements |  |  | 727 |  |  | 529
Balance as of June 30, |  | $ | (4,114) |  | $ | (6,493)
Total net gains (losses) included in net income attributable to the change in unrealized gains or losses related to liabilities still held as of June 30, |  | $ | 4 |  | $ | (35)
Six Months Ended June 30, |  |  |  |  |  |
Balance as of January 1, |  | $ | (5,439) |  | $ | (7,460)
Total net losses included in other noninterest income |  |  | (80) |  |  | (32)
Settlements |  |  | 1,405 |  |  | 999
Balance as of June 30, |  | $ | (4,114) |  | $ | (6,493)
Total net losses included in net income attributable to the change in unrealized gains or losses related to liabilities still held as of June 30, |  | $ | (80) |  | $ | (32)
Summary of estimated fair value of financial instruments not required to be carried at fair value on a recurring basis |
|  | June 30, 2018
|  |  |  |  | Fair Value Measurements
|  |  |  |  | Quoted Prices in |  | Significant |  | Significant |  |
|  |  |  |  | Active Markets |  | Other |  | Unobservable |  |
|  |  |  |  | for Identical |  | Observable |  | Inputs |  |
(dollars in thousands) |  | Book Value |  | Assets (Level 1) |  | Inputs (Level 2) |  | (Level 3) |  | Total
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 943,800 |  | $ | 332,102 |  | $ | 611,689 |  | $ | — |  | $ | 943,791
Loans held for sale |  |  | 2,037 |  |  | — |  |  | 2,044 |  |  | — |  |  | 2,044
Loans(1) |  |  | 12,475,920 |  |  | — |  |  | — |  |  | 12,364,858 |  |  | 12,364,858
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 17,395,538 |  | $ | 13,506,195 |  | $ | 3,865,849 |  | $ | — |  | $ | 17,372,044
Long-term debt(2) |  |  | 200,000 |  |  | — |  |  | 200,903 |  |  | — |  |  | 200,903
| (1) |  | Excludes financing leases of $161.8 million at June 30, 2018.
| (2) |  | Excludes capital lease obligations of $34 thousand at June 30, 2018.
|  | December 31, 2017
|  |  |  |  | Fair Value Measurements
|  |  |  |  | Quoted Prices in |  | Significant |  | Significant |  |
|  |  |  |  | Active Markets |  | Other |  | Unobservable |  |
|  |  |  |  | for Identical |  | Observable |  | Inputs |  |
(dollars in thousands) |  | Book Value |  | Assets (Level 1) |  | Inputs (Level 2) |  | (Level 3) |  | Total
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,034,644 |  | $ | 367,084 |  | $ | 667,560 |  | $ | — |  | $ | 1,034,644
Loans held for sale |  |  | 556 |  |  | — |  |  | 559 |  |  | — |  |  | 559
Loans(1) |  |  | 12,112,303 |  |  | — |  |  | — |  |  | 12,426,506 |  |  | 12,426,506
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 17,612,122 |  | $ | 13,438,240 |  | $ | 4,160,393 |  | $ | — |  | $ | 17,598,633
Excludes financing leases of $165.1 million at December 31, 2017.
Schedule of assets with fair value adjustments on a nonrecurring basis |
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3
June 30, 2018 |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | — |  | $ | — |  | $ | —
December 31, 2017 |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | — |  | $ | — |  | $ | 87
Schedule of significant unobservable inputs used in fair value measurements for Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis |
|  | Quantitative Information about Level 3 Fair Value Measurements at June 30, 2018
|  |  |  |  |  |  | Significant |  | Range
(dollars in thousands) |  | Fair value |  | Valuation Technique |  | Unobservable Input |  | (Weighted Average)
Other liabilities |  | $ | (4,114) |  | Discounted Cash Flow |  | Expected Conversion Rate |  | 1.6298
|  |  |  |  |  |  | Expected Term |  | 4 years
|  |  |  |  |  |  | Growth Rate |  | 15%
|  | Quantitative Information about Level 3 Fair Value Measurements at December 31, 2017
|  |  |  |  |  |  |  |  | Range
(dollars in thousands) |  | Fair value |  | Valuation Technique |  | Unobservable Input |  | (Weighted Average)
Impaired loans |  | $ | 87 |  | Appraisal Value |  | Appraisal Value |  | n/m(1)
Other liabilities |  | $ | (5,439) |  | Discounted Cash Flow |  | Expected Conversion Rate |  | 1.6483
|  |  |  |  |  |  | Expected Term |  | 4 years
|  |  |  |  |  |  | Growth Rate |  | 15%
The fair value of these assets is determined based on appraised values of collateral or broker price opinions, the range of which is not meaningful to disclose.

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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition 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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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