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FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables present financial instruments carried at fair value as of March 31, 2023 and December 31, 2022 by level in the valuation hierarchy (as described above):
March 31, 2023
(Dollars in thousands)Quoted
Prices in
Active
Markets for
Identical
Asset
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $506,136 $— $506,136 
FNMA MBS— 3,235,823 — 3,235,823 
FHLMC MBS— 122,089 — 122,089 
GNMA MBS— 40,242 — 40,242 
GSE agency notes— 182,169 — 182,169 
Other assets— 122,085 78 122,163 
Total assets measured at fair value on a recurring basis$— $4,208,544 $78 $4,208,622 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $119,622 $16,295 $135,917 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $24,797 $24,797 
Other real estate owned— — 1,131 1,131 
Loans held for sale— 39,734 — 39,734 
Total assets measured at fair value on a nonrecurring basis$— $39,734 $25,928 $65,662 
December 31, 2022
(Dollars in thousands)Quoted
Prices in
Active
Markets for
Identical
Asset
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $506,380 $— $506,380 
FNMA MBS— 3,250,258 — 3,250,258 
FHLMC MBS— 121,999 — 121,999 
GNMA MBS— 36,138 — 36,138 
GSE agency notes— 178,285 — 178,285 
Other assets— 156,912 81 156,993 
Total assets measured at fair value on a recurring basis$— $4,249,972 $81 $4,250,053 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $156,520 $17,102 $173,622 
Assets measured at fair value on a nonrecurring basis
Other investments$— $— $26,120 $26,120 
Other real estate owned— — 833 833 
Loans held for sale— 42,985 — 42,985 
Total assets measured at fair value on a nonrecurring basis$— $42,985 $26,953 $69,938 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following table provides a description of the valuation techniques and significant unobservable inputs for the Company's financial instruments classified as Level 3:
(Dollars in thousands)March 31, 2023
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$24,797 Observed market comparable transactionsPeriod of observed transactions
May 2022
Other real estate owned1,131 Fair market value of collateralCosts to sell
10.0%
Other assets (Risk participation agreements purchased)78
Credit Value Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 250 bps (195 bps)
LGD: –% - 30% (30%)
Other liabilities (Risk participation agreements sold)4 
Credit Value Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (104 bps)
LGD: 30%
Other liabilities (Financial derivative related to
sales of certain Visa Class B shares)		16,291 Discounted cash flowTiming of Visa litigation resolution
1.00 - 5.50 years (3.48 years or 4Q 2025)
Book Value and Estimated Fair Value of Financial Instruments
The book value and estimated fair value of the Company's financial instruments are as follows:
 
March 31, 2023December 31, 2022
(Dollars in thousands)Fair Value
Measurement		Book ValueFair ValueBook ValueFair Value
Financial assets:
Cash, cash equivalents, and restricted cashLevel 1$1,103,040 $1,103,040 $837,258 $837,258 
Investment securities available-for-saleLevel 24,086,459 4,086,459 4,093,060 4,093,060 
Investment securities held-to-maturity, netLevel 21,094,799 1,035,856 1,111,619 1,040,104 
Other investmentsLevel 324,797 24,797 26,120 26,120 
Loans, held for saleLevel 239,734 39,734 42,985 42,985 
Loans and leases, net(1)
Level 311,976,845 11,955,133 11,759,992 11,567,888 
Stock in FHLB of PittsburghLevel 242,122 42,122 24,116 24,116 
Accrued interest receivableLevel 277,356 77,356 74,448 74,448 
Other assetsLevels 2, 3122,163 122,163 156,993 156,993 
Financial liabilities:
DepositsLevel 2$16,189,688 $16,147,909 $16,203,569 $16,156,124 
Borrowed fundsLevel 21,138,206 1,129,912 726,894 709,014 
Standby letters of credit
Level 3620 620 739 739 
Accrued interest payableLevel 215,135 15,135 5,174 5,174 
Other liabilitiesLevels 2, 3135,917 135,917 173,622 173,622 
 (1) Includes reverse mortgage loans.