XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.21.1

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Summary of Financial Assets and Financial Liabilities Measured at Fair Value | The following table summarizes financial assets and financial liabilities measured at fair value as of March 31, 2021 and December 31, 2020, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):
|  |  | Fair Value Measurements at Reporting Date Using:
| Total Fair Value |  | Level 1 Inputs |  | Level 2 Inputs |  | Level 3 Inputs
March 31, 2021 |  |  |  |  |  |  |
Items measured on a recurring basis: |  |  |  |  |  |  |
Debt securities available-for-sale | $ | 268,511 |  |  | $ | — |  |  | $ | 268,511 |  |  | $ | — |
Equity investments | 50,159 |  |  | 13,693 |  |  | 28,528 |  |  | 7,938 |
Interest rate swap asset | 27,084 |  |  | — |  |  | 27,084 |  |  | — |
Interest rate swap liability | (27,160) |  |  | — |  |  | (27,160) |  |  | — |
Items measured on a non-recurring basis: |  |  |  |  |  |  |
Other real estate owned | 106 |  |  | — |  |  | — |  |  | 106 |
Loans measured for impairment based on the fair value of the underlying collateral | 33,747 |  |  | — |  |  | — |  |  | 33,747 |
December 31, 2020 |  |  |  |  |  |  |
Items measured on a recurring basis: |  |  |  |  |  |  |
Debt securities available-for-sale | $ | 183,302 |  |  | $ | — |  |  | $ | 183,302 |  |  | $ | — |
Equity investments | 107,079 |  |  | 104,539 |  |  | — |  |  | 2,540 |
Interest rate swap asset | 45,289 |  |  | — |  |  | 45,289 |  |  | — |
Interest rate swap liability | (45,429) |  |  | — |  |  | (45,429) |  |  | — |
Items measured on a non-recurring basis: |  |  |  |  |  |  |
Other real estate owned | 106 |  |  | — |  |  | — |  |  | 106 |
Loans measured for impairment based on the fair value of the underlying collateral | 35,366 |  |  | — |  |  | — |  |  | 35,366 |
Summary of Debt Securities, Available-for-sale | The following table reconciles, for the three months ended March 31, 2021, the beginning and ending balances for equity investments that are recognized at fair value on a recurring basis, in the consolidated statements of financial condition, using significant unobservable inputs (in thousands):
|  | Three Months Ended March 31, 2021 |  |  |  |
Beginning Balance |  | $ | 2,540 |  |  |  |  |
Total gains (losses) included in earnings |  | 398 |  |  |  |  |
Purchases |  | 5,000 |  |  |  |  |
Transfers into Level 3 |  | — |  |  |  |  |
Transfers out of Level 3 |  | — |  |  |  |  |
Ending Balance |  | $ | 7,938 |  |  |  |  |
Summary of Book Value and Estimated Fair Value of Bank's Significant Financial Instruments Not Recorded at Fair Value | The book value and estimated fair value of the Bank’s significant financial instruments not recorded at fair value as of March 31, 2021 and December 31, 2020 are presented in the following tables (in thousands):
|  |  | Fair Value Measurements at Reporting Date Using:
| Book Value |  | Level 1 Inputs |  | Level 2 Inputs |  | Level 3 Inputs
March 31, 2021 |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |
Cash and due from banks | $ | 1,173,665 |  |  | $ | 1,173,665 |  |  | $ | — |  |  | $ | — |
Debt securities held-to-maturity | 1,082,326 |  |  | — |  |  | 1,081,590 |  |  | 18,155 |
Restricted equity investments | 52,199 |  |  | — |  |  | — |  |  | 52,199 |
Loans receivable, net and loans held-for-sale | 7,863,765 |  |  | — |  |  | — |  |  | 7,822,353 |
Financial Liabilities: |  |  |  |  |  |  |
Deposits other than time deposits | 8,392,054 |  |  | — |  |  | 8,392,054 |  |  | — |
Time deposits | 1,110,758 |  |  | — |  |  | 1,118,867 |  |  | — |
Other borrowings | 228,176 |  |  | — |  |  | 241,122 |  |  | — |
Securities sold under agreements to repurchase with retail customers | 134,465 |  |  | 134,465 |  |  | — |  |  | — |
December 31, 2020 |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |
Cash and due from banks | $ | 1,272,134 |  |  | $ | 1,272,134 |  |  | $ | — |  |  | $ | — |
Debt securities held-to-maturity | 937,253 |  |  | — |  |  | 952,365 |  |  | 16,101 |
Restricted equity investments | 51,705 |  |  | — |  |  | — |  |  | 51,705 |
Loans receivable, net and loans held-for-sale | 7,750,381 |  |  | — |  |  | — |  |  | 7,806,743 |
Financial Liabilities: |  |  |  |  |  |  |
Deposits other than time deposits | 8,054,833 |  |  | — |  |  | 8,054,833 |  |  | — |
Time deposits | 1,372,783 |  |  | — |  |  | 1,383,173 |  |  | — |
FHLB advances and other borrowings | 235,471 |  |  | — |  |  | 251,798 |  |  | — |
Securities sold under agreements to repurchase with retail customers | 128,454 |  |  | 128,454 |  |  | — |  |  | — |

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + 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 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258 Reference 4: 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 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset. + References Reference 1: 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=117815213&loc=d3e19279-110258 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 (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
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