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FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables present financial instruments carried at fair value as of June 30, 2024 and December 31, 2023 by level in the valuation hierarchy (as described above):
June 30, 2024
(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$— $449,398 $— $449,398 
FNMA MBS— 2,872,121 — 2,872,121 
FHLMC MBS— 109,212 — 109,212 
GNMA MBS— 43,249 — 43,249 
GSE agency notes— 177,933 — 177,933 
Other assets— 175,035 43 175,078 
Total assets measured at fair value on a recurring basis$— $3,826,948 $43 $3,826,991 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $160,873 $8,902 $169,775 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $14,320 $14,320 
Other real estate owned— — 1,342 1,342 
Loans held for sale— 54,608 — 54,608 
Total assets measured at fair value on a nonrecurring basis$— $54,608 $15,662 $70,270 
December 31, 2023
(Dollars in thousands)Quoted
Prices in
Active
Markets for
Identical
Asset
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $464,619 $— $464,619 
FNMA MBS— 3,042,350 — 3,042,350 
FHLMC MBS— 115,532 — 115,532 
GNMA MBS— 43,340 — 43,340 
GSE agency notes— 180,696 — 180,696 
Other assets— 153,569 78 153,647 
Total assets measured at fair value on a recurring basis$— $4,000,106 $78 $4,000,184 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $137,616 $14,026 $151,642 
Assets measured at fair value on a nonrecurring basis
Other investments$— $— $15,206 $15,206 
Other real estate owned— — 1,569 1,569 
Loans held for sale— 29,268 — 29,268 
Total assets measured at fair value on a nonrecurring basis$— $29,268 $16,775 $46,043 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following tables provide a description of the valuation techniques and significant unobservable inputs for the Company's financial instruments classified as Level 3 as of June 30, 2024 and December 31, 2023:
(Dollars in thousands)June 30, 2024
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$14,320 Observed market comparable transactionsPeriod of observed transactions
December 2023
Other real estate owned1,342 Fair market value of collateralCosts to sell
10.0%-20.0% (19.3%)
Other assets (Risk participation agreements purchased)43
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (191 bps)
LGD: –% - 30% (30%)
Other liabilities (Risk participation agreements sold)2 
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (82 bps)
LGD: –% - 30% (30%)
Other liabilities (Financial derivative related to sales of certain Visa Class B shares)8,900 Discounted cash flowTiming of Visa litigation resolution
3.00 years or 2Q 2027
(Dollars in thousands)December 31, 2023
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$15,206 Observed market comparable transactionsPeriod of observed transactionsDecember 2023
Other real estate owned1,569 Fair market value of collateralCosts to sell
10.0% - 20.0% (18.1%)
Other assets (Risk participation agreements purchased)78
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (195 bps)
LGD: –% - 30% (30%)
Other liabilities (Risk participation agreements sold)3 
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 1 - 250 bps (95 bps)
LGD: 30%
Other liabilities (Financial derivative related to sales of certain Visa Class B shares)14,023 Discounted cash flowTiming of Visa litigation resolution
1.00 - 4.75 years (3.06 years or 4Q 2025)
Schedule of 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:
 
June 30, 2024December 31, 2023
(Dollars in thousands)Fair Value
Measurement		Book ValueFair ValueBook ValueFair Value
Financial assets:
Cash, cash equivalents, and restricted cashLevel 1$1,021,716 $1,021,716 $1,092,900 $1,092,900 
Investment securities available-for-saleLevel 23,651,913 3,651,913 3,846,537 3,846,537 
Investment securities held-to-maturity, netLevel 21,038,854 929,668 1,058,557 985,931 
Other investmentsLevel 316,778 16,778 17,434 17,434 
Loans, held for saleLevel 254,608 54,608 29,268 29,268 
Loans and leases, net(1)
Level 312,945,948 12,887,446 12,583,202 12,514,431 
Stock in FHLB of PittsburghLevel 216,638 16,638 15,398 15,398 
Accrued interest receivableLevel 288,878 88,878 85,979 85,979 
Other assetsLevels 2, 3175,078 175,078 153,647 153,647 
Financial liabilities:
DepositsLevel 2$16,291,081 $16,175,575 $16,474,086 $16,449,198 
Borrowed fundsLevel 21,142,255 1,134,269 895,076 912,760 
Standby letters of credit
Level 3754 754 814 814 
Accrued interest payableLevel 256,684 56,684 46,684 46,684 
Other liabilitiesLevels 2, 3169,775 169,775 151,642 151,642 
 (1) Includes reverse mortgage loans.