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Fair Value (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value |
Schedule of assets and liabilities measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements as of December 31, 2021
​ | ​ | 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 and government agency debt securities | ​ | $ | — | ​ | $ | 192,563 | ​ | $ | — | ​ | $ | 192,563
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency(1) | ​ | ​ | — | ​ | ​ | 137,264 | ​ | ​ | — | ​ | ​ | 137,264
Residential - Government-sponsored enterprises(1) | ​ | ​ | — | ​ | ​ | 1,491,100 | ​ | ​ | — | ​ | ​ | 1,491,100
Commercial - Government agency | ​ | ​ | — | ​ | ​ | 387,663 | ​ | ​ | — | ​ | ​ | 387,663
Commercial - Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | 1,369,443 | ​ | ​ | — | ​ | ​ | 1,369,443
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | — | ​ | ​ | 2,079,523 | ​ | ​ | — | ​ | ​ | 2,079,523
Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | 2,621,044 | ​ | ​ | — | ​ | ​ | 2,621,044
Collateralized loan obligations | ​ | ​ | — | ​ | ​ | 105,247 | ​ | ​ | — | ​ | ​ | 105,247
Debt securities issued by states and political subdivisions | ​ | ​ | — | ​ | ​ | 44,185 | ​ | ​ | — | ​ | ​ | 44,185
Total available-for-sale securities | ​ | ​ | — | ​ | ​ | 8,428,032 | ​ | ​ | — | ​ | ​ | 8,428,032
Other assets(2) | ​ | ​ | 7,382 | ​ | ​ | 50,925 | ​ | ​ | — | ​ | ​ | 58,307
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other liabilities(3) | ​ | ​ | — | ​ | ​ | (1,238) | ​ | ​ | (5,530) | ​ | ​ | (6,768)
Total | ​ | $ | 7,382 | ​ | $ | 8,477,719 | ​ | $ | (5,530) | ​ | $ | 8,479,571
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements as of December 31, 2020
​ | ​ | 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 and government agency debt securities | ​ | $ | — | ​ | $ | 171,421 | ​ | $ | — | ​ | $ | 171,421
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential - Government agency(1) | ​ | ​ | — | ​ | ​ | 160,462 | ​ | ​ | — | ​ | ​ | 160,462
Residential - Government-sponsored enterprises(1) | ​ | ​ | — | ​ | ​ | 447,200 | ​ | ​ | — | ​ | ​ | 447,200
Commercial - Government agency | ​ | ​ | — | ​ | ​ | 599,650 | ​ | ​ | — | ​ | ​ | 599,650
Commercial - Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | 932,157 | ​ | ​ | — | ​ | ​ | 932,157
Collateralized mortgage obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agency | ​ | ​ | — | ​ | ​ | 1,933,553 | ​ | ​ | — | ​ | ​ | 1,933,553
Government-sponsored enterprises | ​ | ​ | — | ​ | ​ | 1,826,972 | ​ | ​ | — | ​ | ​ | 1,826,972
Total available-for-sale securities | ​ | ​ | — | ​ | ​ | 6,071,415 | ​ | ​ | — | ​ | ​ | 6,071,415
Other assets(2) | ​ | ​ | 11,691 | ​ | ​ | 129,895 | ​ | ​ | — | ​ | ​ | 141,586
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other liabilities(3) | ​ | ​ | — | ​ | ​ | (1,283) | ​ | ​ | (4,554) | ​ | ​ | (5,837)
Total | ​ | $ | 11,691 | ​ | $ | 6,200,027 | ​ | $ | (4,554) | ​ | $ | 6,207,164
(1) | Backed by residential real estate.
(2) | Other assets classified as Level 1 include mutual funds and money market funds that have quoted prices in active markets and are related to the Company’s deferred compensation plans. Other assets classified as Level 2 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) | ​ | 2021 |  | 2020
Year Ended December 31, | ​ | ​ | ​ | ​ | ​ | ​
Balance as of January 1, | ​ | $ | (4,554) | ​ | $ | (4,233)
Total net losses included in other noninterest income | ​ | ​ | (5,909) | ​ | ​ | (4,641)
Settlements | ​ | ​ | 4,933 | ​ | ​ | 4,320
Balance as of December 31, | ​ | $ | (5,530) | ​ | $ | (4,554)
Total net losses included in net income attributable to the change in unrealized gains or losses related to liabilities still held as of December 31, | ​ | $ | (5,909) | ​ | $ | (4,641)
Summary of estimated fair value of financial instruments not required to be carried at fair value on a recurring basis |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | ​ | ​ | ​ | 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 | ​ | $ | 1,258,469 | ​ | $ | 246,716 | ​ | $ | 1,011,753 | ​ | $ | — | ​ | $ | 1,258,469
Loans held for sale | ​ | ​ | 538 | ​ | ​ | — | ​ | ​ | 542 | ​ | ​ | — | ​ | ​ | 542
Loans(1) | ​ | ​ | 12,730,605 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 12,791,811 | ​ | ​ | 12,791,811
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Time deposits(2) | ​ | $ | 1,776,438 | ​ | $ | — | ​ | $ | 1,773,321 | ​ | $ | — | ​ | $ | 1,773,321
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020
​ | ​ | ​ | ​ | ​ | 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 | ​ | $ | 1,040,944 | ​ | $ | 303,373 | ​ | $ | 737,571 | ​ | $ | — | ​ | $ | 1,040,944
Loans held for sale | ​ | ​ | 11,579 | ​ | ​ | — | ​ | ​ | 12,018 | ​ | ​ | — | ​ | ​ | 12,018
Loans(1) | ​ | ​ | 13,033,686 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 13,255,636 | ​ | ​ | 13,255,636
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Time deposits(2) | ​ | $ | 2,348,298 | ​ | $ | — | ​ | $ | 2,357,137 | ​ | $ | — | ​ | $ | 2,357,137
Long-term borrowings(3) | ​ | ​ | 200,000 | ​ | ​ | — | ​ | ​ | 214,167 | ​ | ​ | — | ​ | ​ | 214,167
(1) | Excludes financing leases of $231.4 million at December 31, 2021 and $245.4 million at December 31, 2020.
(2) | Excludes deposit liabilities with no defined or contractual maturity of $20.0 billion at December 31, 2021 and $16.9 billion at December 31, 2020.
(3) | Excludes capital lease obligations of $10 thousand at December 31, 2020.
Schedule of assets with fair value adjustments on a nonrecurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateral-dependent loans | ​ | $ | — | ​ | $ | — | ​ | $ | —
December 31, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateral-dependent loans | ​ | $ | — | ​ | $ | — | ​ | $ | 1,840
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 December 31, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | Significant | ​ | ​
(dollars in thousands) | ​ | Fair value |  | Valuation Technique |  | Unobservable Input |  | Range
Visa derivative | ​ | $ | (5,530) | ​ | Discounted Cash Flow | ​ | Expected Conversation Rate - 1.6181(2) | ​ | 1.5885-1.6181
​ | ​ | ​ | ​ | ​ | ​ | ​ | Expected Term - 1 year(3) | ​ | 0.5 to 1.5 years
​ | ​ | ​ | ​ | ​ | ​ | ​ | Growth Rate - 26%(4) | ​ | 10% - 38%
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quantitative Information about Level 3 Fair Value Measurements at December 31, 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | Significant | ​ | ​
(dollars in thousands) | ​ | Fair value |  | Valuation Technique |  | Unobservable Input |  | Range
Collateral-dependent loans | ​ | $ | 1,840 | ​ | Appraisal Value | ​ | Appraisal Value | ​ | n/m(1)
Visa derivative | ​ | $ | (4,554) | ​ | Discounted Cash Flow | ​ | Expected Conversation Rate - 1.6228(2) | ​ | 1.5977-1.6228
​ | ​ | ​ | ​ | ​ | ​ | ​ | Expected Term - 1 year(3) | ​ | 0.5 to 1.5 years
​ | ​ | ​ | ​ | ​ | ​ | ​ | Growth Rate - 13%(4) | ​ | 4% - 17%
(1) | The fair value of these assets is determined based on appraised values of the collateral or broker opinions, the range of which is not meaningful to disclose.
(2) | Due to the uncertainty in the movement of the conversion rate, the current conversion rate as of the respective consolidated balance sheet dates was utilized in the fair value calculation.
(3) | The expected term of 1 year was based on the median of 0.5 to 1.5 years.
(4) | The growth rate was based on the arithmetic average of analyst price targets.

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
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