XML 67 R58.htm IDEA: XBRL DOCUMENT v3.23.1
Fair Value Measurement - Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) $ 1,437,222 $ 1,299,014
Derivative assets [1] 0 0
Derivative liabilities [1] 16,018 21,046
US Treasury Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 297,157  
State and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 886,472 964,852
Corporate bonds and other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 13,411 8,704
Residential MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [2] 229,736 315,027
Commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [2] 10,446 10,431
Fair Value, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity investments 5,319 5,235
Total asset fair value measurements 1,504,480 1,386,555
Total liability fair value measurements 24,707 21,217
Fair Value, Recurring | US Treasury Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 297,157  
Fair Value, Recurring | State and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 886,472 964,852
Fair Value, Recurring | Corporate bonds and other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 13,411 8,704
Fair Value, Recurring | Residential MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [3] 229,736 315,027
Fair Value, Recurring | Commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [3] 10,446 10,431
Fair Value, Recurring | Interest Rate Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 61,939 82,306
Derivative liabilities 24,707 21,217
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity investments 5,319 5,235
Total asset fair value measurements 302,476 5,235
Total liability fair value measurements 0 0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | US Treasury Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 297,157  
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 0 0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds and other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 0 0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [3] 0 0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [3] 0 0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest Rate Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 0 0
Derivative liabilities 0 0
Fair Value, Recurring | Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity investments 0 0
Total asset fair value measurements 1,202,004 1,381,320
Total liability fair value measurements 24,707 21,217
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | US Treasury Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 0  
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | State and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 886,472 964,852
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | Corporate bonds and other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 13,411 8,704
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | Residential MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [3] 229,736 315,027
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | Commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [3] 10,446 10,431
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 61,939 82,306
Derivative liabilities 24,707 21,217
Fair Value, Recurring | Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity investments 0 0
Total asset fair value measurements 0 0
Total liability fair value measurements 0 0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | US Treasury Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 0  
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | State and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 0 0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | Corporate bonds and other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) 0 0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | Residential MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [3] 0 0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | Commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities AFS, at estimated fair value (amortized cost of $1,499,135 and $1,387,874, respectively) [3] 0 0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 0 0
Derivative liabilities 0 0
Fair Value, Nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreclosed assets 11 167
Total asset fair value measurements 7,868 7,982
Fair Value, Nonrecurring | Collateral-dependent loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Collateral-dependent loans [4] 7,857 7,815
Fair Value, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreclosed assets 0 0
Total asset fair value measurements 0 0
Fair Value, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateral-dependent loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Collateral-dependent loans [4] 0 0
Fair Value, Nonrecurring | Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreclosed assets 0 0
Total asset fair value measurements 0 0
Fair Value, Nonrecurring | Significant Other Observable Inputs (Level 2) | Collateral-dependent loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Collateral-dependent loans [4] 0 0
Fair Value, Nonrecurring | Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreclosed assets 11 167
Total asset fair value measurements 7,868 7,982
Fair Value, Nonrecurring | Significant Unobservable Inputs (Level 3) | Collateral-dependent loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Collateral-dependent loans [4] $ 7,857 $ 7,815
[1] Net derivative assets are included in other assets and net derivative liabilities are included in other liabilities on the consolidated balance sheets. Included in the fair value of net derivative assets and net derivative liabilities are credit valuation adjustments reflecting counterparty credit risk and our credit risk. We had no credit exposure related to interest rate swaps with financial institutions and none related to interest rate swaps with customers at March 31, 2023 or December 31, 2022. The credit risk associated with customer transactions is partially mitigated as these are generally secured by the non-cash collateral securing the underlying transaction being hedged.
[2] All MBS are issued and/or guaranteed by U.S. government agencies or U.S. GSEs.
[3] All MBS are issued and/or guaranteed by U.S. government agencies or U.S. GSEs.
[4] Consists of individually evaluated loans. Loans for which the fair value of the collateral and commercial real estate fair value of the properties is less than cost basis are presented net of allowance. Losses on these loans represent charge-offs which are netted against the allowance for loan losses.