Note 13 - Fair Value Measurements and Fair Value of Financial Instruments (Tables)
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9 Months Ended |
Sep. 30, 2023 |
Notes Tables |
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Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
| | September 30, 2023 | | | | | |
| | Fair Value Measurements Using | | | Total Fair Value | |
| | Level 1 | | | Level 2 | | | Level 3 | | | Measurements | |
| | (In thousands) | |
Assets | | | | | | | | | | | | | | | | |
Securities available-for-sale | | | | | | | | | | | | | | | | |
U.S. Treasury securities | | $ | 392,842 | | | $ | — | | | $ | — | | | $ | 392,842 | |
U.S. government agency entities | | | — | | | | 51,001 | | | | — | | | | 51,001 | |
U.S. government sponsored entities | | | — | | | | 33,620 | | | | — | | | | 33,620 | |
Mortgage-backed securities | | | — | | | | 761,803 | | | | — | | | | 761,803 | |
Collateralized mortgage obligations | | | — | | | | 27,698 | | | | — | | | | 27,698 | |
Corporate debt securities | | | — | | | | 231,872 | | | | — | | | | 231,872 | |
Foreign debt securities | | | — | | | | 9,962 | | | | — | | | | 9,962 | |
Total securities available-for-sale | | | 392,842 | | | | 1,115,956 | | | | — | | | | 1,508,798 | |
| | | | | | | | | | | | | | | | |
Equity securities | | | | | | | | | | | | | | | | |
Mutual funds | | | 5,337 | | | | — | | | | — | | | | 5,337 | |
Preferred stock of government sponsored entities | | | 1,378 | | | | — | | | | — | | | | 1,378 | |
Other equity securities | | | 24,741 | | | | — | | | | — | | | | 24,741 | |
Total equity securities | | | 31,456 | | | | — | | | | — | | | | 31,456 | |
| | | | | | | | | | | | | | | | |
Warrants | | | — | | | | — | | | | 42 | | | | 42 | |
Interest rate swaps | | | — | | | | 83,434 | | | | — | | | | 83,434 | |
Foreign exchange contracts | | | — | | | | 858 | | | | — | | | | 858 | |
Total assets | | $ | 424,298 | | | $ | 1,200,248 | | | $ | 42 | | | $ | 1,624,588 | |
| | | | | | | | | | | | | | | | |
Liabilities | | | | | | | | | | | | | | | | |
Interest rate swaps | | $ | — | | | $ | 56,058 | | | $ | — | | | $ | 56,058 | |
Foreign exchange contracts | | | — | | | | 939 | | | | — | | | | 939 | |
Total liabilities | | $ | — | | | $ | 56,997 | | | $ | — | | | $ | 56,997 | |
| | December 31, 2022 | | | | | |
| | Fair Value Measurements Using | | | Total Fair Value | |
| | Level 1 | | | Level 2 | | | Level 3 | | | Measurements | |
| | (In thousands) | |
Assets | | | | | | | | | | | | | | | | |
Securities available-for-sale | | | | | | | | | | | | | | | | |
U.S. Treasury securities | | $ | 240,500 | | | $ | — | | | $ | — | | | $ | 240,500 | |
U.S. government agency entities | | | — | | | | 63,610 | | | | — | | | | 63,610 | |
U.S. government sponsored entities | | | — | | | | 30,000 | | | | — | | | | 30,000 | |
Mortgage-backed securities | | | — | | | | 867,094 | | | | — | | | | 867,094 | |
Collateralized mortgage obligations | | | — | | | | 31,061 | | | | — | | | | 31,061 | |
Corporate debt securities | | | — | | | | 241,083 | | | | — | | | | 241,083 | |
Total securities available-for-sale | | | 240,500 | | | | 1,232,848 | | | | — | | | | 1,473,348 | |
| | | | | | | | | | | | | | | | |
Equity securities | | | | | | | | | | | | | | | | |
Mutual funds | | | 5,509 | | | | — | | | | — | | | | 5,509 | |
Preferred stock of government sponsored entities | | | 1,289 | | | | — | | | | — | | | | 1,289 | |
Other equity securities | | | 15,360 | | | | — | | | | — | | | | 15,360 | |
Total equity securities | | | 22,158 | | | | — | | | | — | | | | 22,158 | |
| | | | | | | | | | | | | | | | |
Warrants | | | — | | | | — | | | | 50 | | | | 50 | |
Interest rate swaps | | | — | | | | 44,443 | | | | — | | | | 44,443 | |
Foreign exchange contracts | | | — | | | | 448 | | | | — | | | | 448 | |
Total assets | | $ | 262,658 | | | $ | 1,277,739 | | | $ | 50 | | | $ | 1,540,447 | |
| | | | | | | | | | | | | | | | |
Liabilities | | | | | | | | | | | | | | | | |
Interest rate swaps | | $ | — | | | $ | 51,864 | | | $ | — | | | $ | 51,864 | |
Foreign exchange contracts | | | — | | | | 942 | | | | — | | | | 942 | |
Total liabilities | | $ | — | | | $ | 52,806 | | | $ | — | | | $ | 52,806 | |
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Fair Value Measurements, Nonrecurring [Table Text Block] |
| | As of September 30, 2023 | | | Total Losses | |
| | Fair Value Measurements Using | | | Total Fair Value | | | For the Three Months Ended | | | For the Nine Months Ended | |
| | Level 1 | | | Level 2 | | | Level 3 | | | Measurements | | | September 30, 2023 | | | September 30, 2022 | | | September 30, 2023 | | | September 30, 2022 | |
| | (In thousands) | |
Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Non accrual loans by type: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial loans | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 1,786 | | | $ | — | | | $ | 1,786 | |
Commercial mortgage loans | | | — | | | | — | | | | 7,051 | | | | 7,051 | | | | 252 | | | | — | | | | 4,069 | | | | — | |
Real estate construction loans | | | — | | | | — | | | | 5,034 | | | | 5,034 | | | | — | | | | — | | | | — | | | | — | |
Total non accrual loans | | | — | | | | — | | | | 12,085 | | | | 12,085 | | | | 252 | | | | 1,786 | | | | 4,069 | | | | 1,786 | |
Other real estate owned (1) | | | — | | | | — | | | | 15,328 | | | | 15,328 | | | | — | | | | — | | | | — | | | | — | |
Investments in venture capital | | | — | | | | — | | | | 447 | | | | 447 | | | | — | | | | — | | | | — | | | | — | |
Total assets | | $ | — | | | $ | — | | | $ | 27,860 | | | $ | 27,860 | | | $ | 252 | | | $ | 1,786 | | | $ | 4,069 | | | $ | 1,786 | |
| | As of December 31, 2022 | | | Total Losses | |
| | Fair Value Measurements Using | | | Total Fair Value | | | For the Twelve Months Ended | |
| | Level 1 | | | Level 2 | | | Level 3 | | | Measurements | | | December 31, 2022 | | | December 31, 2021 | |
| | (In thousands) | |
Assets | | | | | | | | | | | | | | | | | | | | | | | | |
Non accrual loans by type: | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial loans | | $ | — | | | $ | — | | | $ | 12,950 | | | $ | 12,950 | | | $ | 1,786 | | | $ | 1,012 | |
Commercial mortgage loans | | | — | | | | — | | | | 32,205 | | | | 32,205 | | | | 2,091 | | | | — | |
Residential mortgage loans and equity lines | | | — | | | | — | | | | 8,978 | | | | 8,978 | | | | — | | | | — | |
Installment and other loans | | | — | | | | — | | | | 8 | | | | 8 | | | | — | | | | — | |
Total non accrual loans | | | — | | | | — | | | | 54,141 | | | | 54,141 | | | | 3,877 | | | | 1,012 | |
Other real estate owned (1) | | | — | | | | — | | | | 4,328 | | | | 4,328 | | | | — | | | | 17 | |
Investments in venture capital | | | — | | | | — | | | | 689 | | | | 689 | | | | 268 | | | | 143 | |
Total assets | | $ | — | | | $ | — | | | $ | 59,158 | | | $ | 59,158 | | | $ | 4,145 | | | $ | 1,172 | |
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Fair Value, by Balance Sheet Grouping [Table Text Block] |
| | September 30, 2023 | | | December 31, 2022 | |
| | Carrying | | | | | | | Carrying | | | | | |
| | Amount | | | Fair Value | | | Amount | | | Fair Value | |
| | (In thousands) | |
Financial Assets | | | | | | | | | | | | | | | | |
Cash and due from banks | | $ | 145,580 | | | $ | 145,580 | | | $ | 195,440 | | | $ | 195,440 | |
Short-term investments | | | 1,017,354 | | | | 1,017,354 | | | | 966,962 | | | | 966,962 | |
Securities available-for-sale | | | 1,508,798 | | | | 1,508,798 | | | | 1,473,348 | | | | 1,473,348 | |
Loans, net | | | 18,859,682 | | | | 18,838,004 | | | | 18,100,898 | | | | 17,944,588 | |
Equity securities | | | 31,456 | | | | 31,456 | | | | 22,158 | | | | 22,158 | |
Investment in Federal Home Loan Bank stock | | | 17,250 | | | | 17,250 | | | | 17,250 | | | | 17,250 | |
Warrants | | | 42 | | | | 42 | | | | 50 | | | | 50 | |
| | Notional | | | | | | | Notional | | | | | |
| | Amount | | | Fair Value | | | Amount | | | Fair Value | |
Foreign exchange contracts | | $ | 220,784 | | | $ | 858 | | | $ | 72,996 | | | $ | 448 | |
Interest rate swaps | | | 1,502,403 | | | | 83,434 | | | | 817,615 | | | | 44,443 | |
| | Carrying | | | | | | | Carrying | | | | | |
| | Amount | | | Fair Value | | | Amount | | | Fair Value | |
Financial Liabilities | | | | | | | | | | | | | | | | |
Deposits | | $ | 19,635,588 | | | $ | 19,746,224 | | | $ | 18,505,279 | | | $ | 18,572,387 | |
Advances from Federal Home Loan Bank | | | 15,000 | | | | 14,186 | | | | 485,000 | | | | 482,737 | |
Other borrowings | | | 22,374 | | | | 18,282 | | | | 22,600 | | | | 18,385 | |
Long-term debt | | | 119,136 | | | | 68,536 | | | | 119,136 | | | | 68,231 | |
| | Notional | | | | | | | Notional | | | | | |
| | Amount | | | Fair Value | | | Amount | | | Fair Value | |
Foreign exchange contracts | | $ | 64,971 | | | $ | 939 | | | $ | 170,213 | | | $ | 942 | |
Interest rate swaps | | | 642,054 | | | | 56,058 | | | | 595,426 | | | | 51,864 | |
| | Notional | | | | | | | Notional | | | | | |
| | Amount | | | Fair Value | | | Amount | | | Fair Value | |
Off-Balance Sheet Financial Instruments | | | | | | | | | | | | | | | | |
Commitments to extend credit | | $ | 3,989,855 | | | $ | (15,038 | ) | | $ | 3,630,304 | | | $ | (14,797 | ) |
Standby letters of credit | | | 329,789 | | | | (2,308 | ) | | | 315,821 | | | | (2,738 | ) |
Other letters of credit | | | 10,214 | | | | (10 | ) | | | 29,416 | | | | (33 | ) |
Bill of lading guarantees | | | — | | | | — | | | | — | | | | — | |
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Schedule Of Fair Value Of Financial Instruments [Table Text Block] |
| | As of September 30, 2023 | |
| | Estimated | | | | | | | | | | | | | |
| | Fair Value | | | | | | | | | | | | | |
| | Measurements | | | Level 1 | | | Level 2 | | | Level 3 | |
| | (In thousands) | |
Financial Assets | | | | | | | | | | | | | | | | |
Cash and due from banks | | $ | 145,580 | | | $ | 145,580 | | | $ | — | | | $ | — | |
Short-term investments | | | 1,017,354 | | | | 1,017,354 | | | | — | | | | — | |
Loans, net | | | 18,838,004 | | | | — | | | | — | | | | 18,838,004 | |
Investment in Federal Home Loan Bank stock | | | 17,250 | | | | — | | | | 17,250 | | | | — | |
Financial Liabilities | | | | | | | | | | | | | | | | |
Deposits | | | 19,746,224 | | | | — | | | | — | | | | 19,746,224 | |
Advances from Federal Home Loan Bank | | | 14,186 | | | | — | | | | 14,186 | | | | — | |
Other borrowings | | | 18,282 | | | | — | | | | — | | | | 18,282 | |
Long-term debt | | | 68,536 | | | | — | | | | 68,536 | | | | — | |
| | As of December 31, 2022 | |
| | Estimated | | | | | | | | | | | | | |
| | Fair Value | | | | | | | | | | | | | |
| | Measurements | | | Level 1 | | | Level 2 | | | Level 3 | |
| | (In thousands) | |
Financial Assets | | | | | | | | | | | | | | | | |
Cash and due from banks | | $ | 195,440 | | | $ | 195,440 | | | $ | — | | | $ | — | |
Short-term investments | | | 966,962 | | | | 966,962 | | | | — | | | | — | |
Loans, net | | | 17,944,588 | | | | — | | | | — | | | | 17,944,588 | |
Investment in Federal Home Loan Bank stock | | | 17,250 | | | | — | | | | 17,250 | | | | — | |
Warrants | | | 50 | | | | — | | | | — | | | | 50 | |
Financial Liabilities | | | | | | | | | | | | | | | | |
Deposits | | | 18,572,387 | | | | — | | | | — | | | | 18,572,387 | |
Advances from Federal Home Loan Bank | | | 482,737 | | | | — | | | | 482,737 | | | | — | |
Other borrowings | | | 18,385 | | | | — | | | | — | | | | 18,385 | |
Long-term debt | | | 68,231 | | | | — | | | | 68,231 | | | | — | |
|