Fair Value Information (Tables)

6 Months Ended

Jun. 30, 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 as of the dates presented.

	Carrying Value at June 30, 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	$	3,108,915	$	-	$	3,108,915	$	-
CMO/REMIC		490,130		-		490,130		-
Municipal bonds		26,089		-		26,089		-
Other securities		1,023		-		1,023		-
Total investment securities - AFS		3,626,157		-		3,626,157		-
Interest rate swaps		582		-		582		-
Total assets	$	3,626,739	$	-	$	3,626,739	$	-
Description of liability
Interest rate swaps	$	582	$	-	$	582	$	-
Total liabilities	$	582	$	-	$	582	$	-

	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 amount of the allowance is included in the ACL.

	Carrying Value at June 30, 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 Six Months Ended June 30, 2022
	(Dollars in thousands)
Description of assets
Loans:
Commercial real estate	$	3,000	$	-	$	-	$	3,000	$	1,233
Construction		-		-		-		-		-
SBA		223		-		-		223		38
Commercial and industrial		573		-		-		573		237
Dairy & livestock and    agribusiness		2,524		-		-		2,524		2,513
Municipal lease finance    receivables		-		-		-		-		-
SFR mortgage		-		-		-		-		-
Consumer and other loans		-		-		-		-		3
Other real estate owned		-		-		-		-		-
Asset held-for-sale		-		-		-		-		-
Total assets	$	6,320	$	-	$	-	$	6,320	$	4,024

	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
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 use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

	June 30, 2022
	Carrying		Estimated Fair Value
	Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets
Total cash and cash equivalents	$	696,709	$	696,709	$	-	$	-	$	696,709
Interest-earning balances due from    depository institutions		7,382		-		7,382		-		7,382
Investment securities available-for-sale		3,626,157		-		3,626,157		-		3,626,157
Investment securities held-to-maturity		2,412,308		-		2,134,183		-		2,134,183
Total loans, net of allowance for credit    losses		8,612,007		-		-		8,102,801		8,102,801
Swaps		582		-		582		-		582
Liabilities
Deposits:
Interest-bearing	$	5,190,996	$	-	$	5,186,166	$	-	$	5,186,166
Borrowings		502,829		-		426,427		-		426,427
Junior subordinated debentures		-		-		-		-		-
Swaps		582		-		582		-		582

	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