XML 98 R42.htm IDEA: XBRL DOCUMENT v3.24.0.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present assets and liabilities measured at fair value on a recurring basis at the dates indicated (in thousands):
 December 31, 2023
 Level 1Level 2Total
Investment securities available for sale:   
U.S. Treasury securities$130,592 $— $130,592 
U.S. Government agency and sponsored enterprise residential MBS— 1,924,207 1,924,207 
U.S. Government agency and sponsored enterprise commercial MBS— 497,859 497,859 
Private label residential MBS and CMOs— 2,295,730 2,295,730 
Private label commercial MBS— 2,198,743 2,198,743 
Single family real estate-backed securities— 366,255 366,255 
Collateralized loan obligations— 1,112,824 1,112,824 
Non-mortgage asset-backed securities— 102,780 102,780 
State and municipal obligations— 102,618 102,618 
SBA securities— 103,024 103,024 
Marketable equity securities32,722 — 32,722 
Derivative assets— 105,658 105,658 
Total assets at fair value$163,314 $8,809,698 $8,973,012 
Derivative liabilities$— $(96,929)$(96,929)
Total liabilities at fair value$— $(96,929)$(96,929)
 December 31, 2022
 Level 1Level 2Total
Investment securities available for sale:   
U.S. Treasury securities
$135,841 $— $135,841 
U.S. Government agency and sponsored enterprise residential MBS— 1,983,168 1,983,168 
U.S. Government agency and sponsored enterprise commercial MBS— 525,094 525,094 
Private label residential MBS and CMOs— 2,530,663 2,530,663 
Private label commercial MBS— 2,524,354 2,524,354 
Single family real estate-backed securities— 470,441 470,441 
Collateralized loan obligations— 1,136,463 1,136,463 
Non-mortgage asset-backed securities— 95,976 95,976 
State and municipal obligations— 116,661 116,661 
SBA securities— 135,782 135,782 
Marketable equity securities 90,884 — 90,884 
Derivative assets— 88,739 88,739 
Total assets at fair value$226,725 $9,607,341 $9,834,066 
Derivative liabilities$— $(126,220)$(126,220)
Total liabilities at fair value$— $(126,220)$(126,220)
Schedule of Assets for Which Nonrecurring Changes in Fair Value have been Recorded
The following table presents the net carrying value of assets classified within level 3 of the fair value hierarchy at the dates indicated, for which non-recurring changes in fair value were recorded during the period then ended (in thousands):
December 31, 2023December 31, 2022
Collateral dependent loans$50,885 $31,789 
OREO29 693 
$50,914 $32,482 
Schedule of the Carrying Value and Fair Value of Financial Instruments
The following table presents the carrying value and fair value of financial instruments and the level within the fair value hierarchy in which those measurements are classified at the dates indicated (dollars in thousands):
 December 31, 2023December 31, 2022
 LevelCarrying ValueFair ValueCarrying ValueFair Value
Assets:     
Cash and cash equivalents1$588,283 $588,283 $572,647 $572,647 
Investment securities 1/2$8,877,354 $8,877,281 $9,755,327 $9,755,190 
Non-marketable equity securities2$310,084 $310,084 $294,172 $294,172 
Loans, net3$24,430,995 $23,075,192 $24,738,042 $23,342,950 
Derivative assets2$105,658 $105,658 $88,739 $88,739 
Liabilities:
Demand, savings and money market deposits2$21,374,483 $21,374,483 $23,241,256 $23,241,256 
Time deposits2$5,163,995 $5,133,119 $4,268,078 $4,231,167 
Federal funds purchased 2$— $— $190,000 $190,000 
FHLB advances2$5,115,000 $5,115,637 $5,420,000 $5,419,588 
Notes and other borrowings2$708,973 $676,077 $720,923 $698,359 
Derivative liabilities2$96,929 $96,929 $126,220 $126,220