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Fair Value Information (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the dates presented.

		Carrying Value at December 31, 2022				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in thousands)
Description of assets
Investment securities - AFS:
Mortgage-backed securities		$	2,789,141			$	—			$	2,789,141			$	—
CMO/REMIC			439,303				—				439,303				—
Municipal bonds			25,687				—				25,687				—
Other securities			1,080				—				1,080				—
Total investment securities - AFS			3,255,211				—				3,255,211				—
Interest rate swaps			82				—				82				—
Total assets		$	3,255,293				—				3,255,293				—
Description of liability
Interest rate swaps		$	82				—				82				—
Total liabilities		$	82				—				82				—

		Carrying Value at December 31, 2021				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in thousands)
Description of assets
Investment securities - AFS:
Mortgage-backed securities		$	2,563,214				—				2,563,214				—
CMO/REMIC			590,158				—				590,158				—
Municipal bonds			29,468				—				29,468				—
Other securities			1,083				—				1,083				—
Total investment securities - AFS			3,183,923				—				3,183,923				—
Interest rate swaps			14,163				—				14,163				—
Total assets		$	3,198,086				—				3,198,086				—
Description of liability
Interest rate swaps		$	14,163				—				14,163				—
Total liabilities		$	14,163				—				14,163				—

Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets that had losses during the period.

		Carrying Value at December 31, 2022				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Losses For the Year Ended December 31, 2022
		(Dollars in thousands)
Description of assets
Loans:
Commercial real estate		$	2,639				—				—			$	2,639			$	1
Construction			-				—				—				—				—
SBA			323				—				—				323				182
SBA - PPP			-				—				—				—				2
Commercial and industrial			451				—				—				451				326
Dairy & livestock and agribusiness			113				—				—				113				113
Municipal lease finance receivables			—				—				—				—				—
SFR mortgage			—				—				—				—				—
Consumer and other loans			—				—				—				—				2
Other real estate owned			—				—				—				—				—
Asset held-for-sale			—				—				—				—				—
Total assets		$	3,526				—				—			$	3,526			$	626

		Carrying Value at December 31, 2021				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Losses For the Year Ended December 31, 2021
		(Dollars in thousands)
Description of assets
Impaired loans:
Commercial real estate			—				—				—			$	—			$	—
Construction			—				—				—				—				—
SBA			646				—				—				646				255
Commercial and industrial			340				—				—				340				3,275
Dairy & livestock and agribusiness			38				—				—				38				118
Municipal lease finance receivables			—				—				—				—				—
SFR mortgage			—				—				—				—				—
Consumer and other loans			—				—				—				—				11
Other real estate owned			—				—				—				—				—
Asset held-for-sale			—				—				—				—				—
Total assets			1,024				—				—			$	1,024			$	3,659

Estimated Fair Value of Financial Instruments

The following disclosure presents estimated fair value of our financial instruments. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to develop the estimates of fair value. Accordingly, the estimates presented below are not necessarily indicative of the amounts the Company may realize in a current market exchange as December 31, 2022 and 2021, respectively. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

	December 31, 2022
	Carrying				Estimated Fair Value
	Amount				Level 1				Level 2				Level 3				Total
	(Dollars in thousands)
Assets
Total cash and cash equivalents	$	203,461			$	203,461			$	—			$	—			$	203,461
Interest-earning balances due from    depository institutions		9,553				—				9,553				—				9,553
Investment securities available-for-sale		3,255,211				—				3,255,211				—				3,255,211
Investment securities held-to-maturity		2,554,301				—				2,155,587				—				2,155,587
Total loans, net of allowance for credit    losses		8,994,275				—				—				8,074,952				8,074,952
Swaps		82				—				82				—				82
Liabilities
Deposits:
Interest-bearing	$	4,671,881			$	—			$	4,664,657			$	—			$	4,664,657
Borrowings		1,560,431				—				1,444,659				—				1,444,659
Junior subordinated debentures		—				—				—				—				—
Swaps		82				—				82				—				82

		December 31, 2021
		Carrying				Estimated Fair Value
		Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and cash equivalents		$	1,732,548			$	1,732,548			$	—			$	—			$	1,732,548
Interest-earning balances due from    depository institutions			25,999				—				25,999				—				25,999
Investment securities available-for-sale			3,183,923				—				3,183,923				—				3,183,923
Investment securities held-to-maturity			1,925,970				—				1,921,693				—				1,921,693
Total loans, net of allowance for credit    losses			7,822,694				—				—				7,696,210				7,696,210
Swaps			14,163				—				14,163				—				14,163
Liabilities
Deposits:
Interest-bearing		$	4,872,386			$	—			$	4,871,531			$	—			$	4,871,531
Borrowings			644,669				—				586,645				—				586,645
Junior subordinated debentures			—				—				—				—				—
Swaps			14,163				—				14,163				—				14,163

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

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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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-Publisher FASB
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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/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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-Publisher FASB
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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