XML 48 R37.htm IDEA: XBRL DOCUMENT
v3.19.1

Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Fair Value Measurements and Fair Value of Financial Instruments [Abstract] |
Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis | The following tables set forth the Company’s financial assets and liabilities measured on a recurring basis that were accounted for at fair value. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2019 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
AFS securities: |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | - |  |  | $ | 29,636 |  |  | $ | - |  |  | $ | 29,636 |
State & municipal |  |  | - |  |  |  | 598 |  |  |  | - |  |  |  | 598 |
Mortgage-backed |  |  | - |  |  |  | 516,167 |  |  |  | - |  |  |  | 516,167 |
Collateralized mortgage obligations |  |  | - |  |  |  | 405,458 |  |  |  | - |  |  |  | 405,458 |
Total AFS securities |  | $ | - |  |  | $ | 951,859 |  |  | $ | - |  |  | $ | 951,859 |
Equity securities |  |  | 21,482 |  |  |  | 4,000 |  |  |  | - |  |  |  | 25,482 |
Derivatives |  |  | - |  |  |  | 23,871 |  |  |  | - |  |  |  | 23,871 |
Total |  | $ | 21,482 |  |  | $ | 979,730 |  |  | $ | - |  |  | $ | 1,001,212 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  | $ | - |  |  | $ | 22,266 |  |  | $ | - |  |  | $ | 22,266 |
Total |  | $ | - |  |  | $ | 22,266 |  |  | $ | - |  |  | $ | 22,266 |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2018 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
AFS securities: |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | - |  |  | $ | 84,299 |  |  | $ | - |  |  | $ | 84,299 |
State & municipal |  |  | - |  |  |  | 29,915 |  |  |  | - |  |  |  | 29,915 |
Mortgage-backed |  |  | - |  |  |  | 512,295 |  |  |  | - |  |  |  | 512,295 |
Collateralized mortgage obligations |  |  | - |  |  |  | 371,987 |  |  |  | - |  |  |  | 371,987 |
Total AFS securities |  | $ | - |  |  | $ | 998,496 |  |  | $ | - |  |  | $ | 998,496 |
Equity securities |  |  | 19,053 |  |  |  | 4,000 |  |  |  | - |  |  |  | 23,053 |
Derivatives |  |  | - |  |  |  | 20,000 |  |  |  | - |  |  |  | 20,000 |
Total |  | $ | 19,053 |  |  | $ | 1,022,496 |  |  | $ | - |  |  | $ | 1,041,549 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  | $ | - |  |  | $ | 17,572 |  |  | $ | - |  |  | $ | 17,572 |
Total |  | $ | - |  |  | $ | 17,572 |  |  | $ | - |  |  | $ | 17,572 |
Information with Regard to Estimated Fair Values of Financial Instruments | The following table sets forth information with regard to estimated fair values of financial instruments. This table excludes financial instruments for which the carrying amount approximates fair value. Financial instruments for which the fair value approximates carrying value include cash and cash equivalents, AFS securities, equity securities, accrued interest receivable, non-maturity deposits, short-term borrowings, accrued interest payable and derivatives.
|  |  |  |  | March 31, 2019 |  |  | December 31, 2018 |
(In thousands) |  | Fair Value Hierarchy |  |  | Carrying Amount |  |  | Estimated Fair Value |  |  | Carrying Amount |  |  | Estimated Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HTM securities |  |  | 2 |  |  | $ | 780,565 |  |  | $ | 782,761 |  |  | $ | 783,599 |  |  | $ | 778,675 |
Net loans |  |  | 3 |  |  |  | 6,827,432 |  |  |  | 6,775,550 |  |  |  | 6,822,147 |  |  |  | 6,754,460 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time deposits |  |  | 2 |  |  | $ | 922,304 |  |  | $ | 915,990 |  |  | $ | 930,678 |  |  | $ | 920,534 |
Long-term debt |  |  | 2 |  |  |  | 73,696 |  |  |  | 73,981 |  |  |  | 73,724 |  |  |  | 73,927 |
Junior subordinated debt |  |  | 2 |  |  |  | 101,196 |  |  |  | 102,946 |  |  |  | 101,196 |  |  |  | 100,114 |

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=109250915&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=99377789&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

X
- Definition 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration