XML 66 R46.htm IDEA: XBRL DOCUMENT
v3.20.2

Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Financial Instruments Measured on Recurring Basis | The following table sets forth the Company’s financial assets by level within the fair value hierarchy that were measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019.
|  |  |  | Fair Value Measurements Using
(In thousands) |  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
September 30, 2020 |  |  |  |  |  |  |  |
Available-for-sale securities |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 471,973 |  |  | $ | — |  |  | $ | 471,973 |  |  | $ | — |
Mortgage-backed securities |  | 903,687 |  |  | — |  |  | 903,687 |  |  | — |
State and political subdivisions |  | 1,133,006 |  |  | — |  |  | 1,133,006 |  |  | — |
Other securities |  | 98,622 |  |  | — |  |  | 98,622 |  |  | — |
Other assets held for sale |  | 389 |  |  | — |  |  | — |  |  | 389 |
Derivative asset |  | 42,021 |  |  | — |  |  | 42,021 |  |  | — |
Derivative liability |  | (42,356) |  |  | — |  |  | (42,356) |  |  | — |
December 31, 2019 |  |  |  |  |  |  |  |
Available-for-sale securities |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 449,729 |  |  | $ | 449,729 |  |  | $ | — |  |  | $ | — |
U.S. Government agencies |  | 194,249 |  |  | — |  |  | 194,249 |  |  | — |
Mortgage-backed securities |  | 1,742,945 |  |  | — |  |  | 1,742,945 |  |  | — |
States and political subdivisions |  | 880,524 |  |  | — |  |  | 880,524 |  |  | — |
Other securities |  | 20,896 |  |  | — |  |  | 20,896 |  |  | — |
Other assets held for sale |  | 260,332 |  |  | — |  |  | — |  |  | 260,332 |
Derivative asset |  | 14,903 |  |  | — |  |  | 14,903 |  |  | — |
Other liabilities held for sale |  | (159,853) |  |  | — |  |  | — |  |  | (159,853) |
Derivative liability |  | (12,650) |  |  | — |  |  | (12,650) |  |  | — |
Financial Assets Measure on Nonrecurring Basis | The following table sets forth the Company’s financial assets by level within the fair value hierarchy that were measured at fair value on a nonrecurring basis as of September 30, 2020 and December 31, 2019.
|  |  | Fair Value Measurements Using
(In thousands) | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
September 30, 2020 |  |  |  |  |  |  |
Individually assessed loans (1) (2) (collateral-dependent) | $ | 67,316 |  |  | $ | — |  |  | $ | — |  |  | $ | 67,316 |
Foreclosed assets and other real estate owned (1) | 3,581 |  |  | — |  |  | — |  |  | 3,581 |
December 31, 2019 |  |  |  |  |  |  |
Individually assessed loans (1) (2) (collateral-dependent) | $ | 49,190 |  |  | $ | — |  |  | $ | — |  |  | $ | 49,190 |
Foreclosed assets and other real estate owned (1) | 18,798 |  |  | — |  |  | — |  |  | 18,798 |
________________________ (1)These amounts represent the resulting carrying amounts on the consolidated balance sheets for collateral-dependent loans and foreclosed assets and other real estate owned for which fair value re-measurements took place during the period. (2)Identified reserves of $12,586,000 and $1,297,000 were related to collateral-dependent loans for which fair value re-measurements took place during the periods ended September 30, 2020 and December 31, 2019, respectively.
Estimated Fair Values and Related Carrying Amounts | The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows:
| Carrying |  | Fair Value Measurements
(In thousands) | Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
September 30, 2020 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 2,522,131 |  |  | $ | 2,522,131 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,522,131 |
Interest bearing balances due from banks - time | 4,061 |  |  | — |  |  | 4,061 |  |  | — |  |  | 4,061 |
Held-to-maturity securities | 47,102 |  |  | — |  |  | 49,064 |  |  | — |  |  | 49,064 |
Mortgage loans held for sale | 192,729 |  |  | — |  |  | — |  |  | 192,729 |  |  | 192,729 |
Interest receivable | 77,352 |  |  | — |  |  | 77,352 |  |  | — |  |  | 77,352 |
Loans, net | 13,769,191 |  |  | — |  |  | — |  |  | 13,864,914 |  |  | 13,864,914 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Non-interest bearing transaction accounts | 4,451,385 |  |  | — |  |  | 4,451,385 |  |  | — |  |  | 4,451,385 |
Interest bearing transaction accounts and savings deposits | 8,993,255 |  |  | — |  |  | 8,993,255 |  |  | — |  |  | 8,993,255 |
Time deposits | 2,802,007 |  |  | — |  |  | — |  |  | 2,820,224 |  |  | 2,820,224 |
Federal funds purchased and securities sold under agreements to repurchase | 313,694 |  |  | — |  |  | 313,694 |  |  | — |  |  | 313,694 |
Other borrowings | 1,342,769 |  |  | — |  |  | 1,459,468 |  |  | — |  |  | 1,459,468 |
Subordinated notes and debentures | 382,739 |  |  | — |  |  | 400,421 |  |  | — |  |  | 400,421 |
Interest payable | 13,694 |  |  | — |  |  | 13,694 |  |  | — |  |  | 13,694 |
December 31, 2019 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 996,623 |  |  | $ | 996,623 |  |  | $ | — |  |  | $ | — |  |  | $ | 996,623 |
Interest bearing balances due from banks - time | 4,554 |  |  | — |  |  | 4,554 |  |  | — |  |  | 4,554 |
Held-to-maturity securities | 40,927 |  |  | — |  |  | 41,855 |  |  | — |  |  | 41,855 |
Mortgage loans held for sale | 58,102 |  |  | — |  |  | — |  |  | 58,102 |  |  | 58,102 |
Interest receivable | 62,707 |  |  | — |  |  | 62,707 |  |  | — |  |  | 62,707 |
Loans, net | 14,357,460 |  |  | — |  |  | — |  |  | 14,290,188 |  |  | 14,290,188 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Non-interest bearing transaction accounts | 3,741,093 |  |  | — |  |  | 3,741,093 |  |  | — |  |  | 3,741,093 |
Interest bearing transaction accounts and savings deposits | 9,090,878 |  |  | — |  |  | 9,090,878 |  |  | — |  |  | 9,090,878 |
Time deposits | 3,276,969 |  |  | — |  |  | — |  |  | 3,270,333 |  |  | 3,270,333 |
Federal funds purchased and securities sold under agreements to repurchase | 150,145 |  |  | — |  |  | 150,145 |  |  | — |  |  | 150,145 |
Other borrowings | 1,297,599 |  |  | — |  |  | 1,298,011 |  |  | — |  |  | 1,298,011 |
Subordinated debentures | 388,260 |  |  | — |  |  | 397,088 |  |  | — |  |  | 397,088 |
Interest payable | 12,898 |  |  | — |  |  | 12,898 |  |  | — |  |  | 12,898 |

X
- 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=117815213&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=117815213&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=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://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=117815213&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 (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 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 (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration