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Note 17 - Fair Value Measurements and Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2023
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

As of December 31, 2023

 

Fair Value Measurements Using

  

Total at

 
  

Level 1

  

Level 2

  

Level 3

  

Fair Value

 

Assets

 

(In thousands)

 

Securities available-for-sale

                

U.S. Treasury securities

 $495,300  $  $  $495,300 

U.S. government agency entities

     48,169      48,169 

U.S. government sponsored entities

            

Mortgage-backed securities

     786,723      786,723 

Collateralized mortgage obligations

     28,044      28,044 

Corporate debt securities

     246,334      246,334 

Total securities available-for-sale

  495,300   1,109,270      1,604,570 
                 

Equity securities

                

Mutual funds

  5,585         5,585 

Preferred stock of government sponsored entities

  1,821         1,821 

Other equity securities

  33,000         33,000 

Total equity securities

  40,406         40,406 

Warrants

            

Interest rate swaps

     54,268      54,268 

Foreign exchange contracts

     379      379 

Total assets

 $535,706  $1,163,917  $  $1,699,623 
                 

Liabilities

                

Interest rate swaps

 $  $45,762  $  $45,762 

Foreign exchange contracts

     175      175 

Total liabilities

 $  $45,937  $  $45,937 

As of December 31, 2022

 

Fair Value Measurements Using

  

Total at

 
  

Level 1

  

Level 2

  

Level 3

  

Fair Value

 

Assets

 

(In thousands)

 

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 
Fair Value Measurements, Nonrecurring [Table Text Block]
  

As of December 31, 2023

  

Total Losses

 
  

Fair Value Measurements Using

  

Total at

  

For the Twelve Months Ended

 
  

Level 1

  

Level 2

  

Level 3

  

Fair Value

  

December 31, 2023

  

December 31, 2022

 

Assets

 

(In thousands)

 
                         

Non-accrual loans by type:

                        

Commercial loans

 $  $  $191  $191  $  $1,786 

Commercial real estate loans

        6,882   6,882   4,069   2,091 

Total non-accrual loans

        7,073   7,073   4,069   3,877 

Other real estate owned (1)

        20,446   20,446       

Investments in venture capital

        237   237   227   268 

Total assets

 $  $  $27,756  $27,756  $4,296  $4,145 
  

As of December 31, 2022

  

Total Losses

 
  

Fair Value Measurements Using

  

Total at

  

For the Twelve Months Ended

 
  

Level 1

  

Level 2

  

Level 3

  

Fair Value

  

December 31, 2022

  

December 31, 2021

 

Assets

 

(In thousands)

 
                         

Non-accrual loans by type:

                        

Commercial loans

 $  $  $12,950  $12,950  $1,786  $1,012 

Commercial real estate loans

        32,205   32,205   2,091    

Residential mortgage 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 
Fair Value, by Balance Sheet Grouping [Table Text Block]
  

December 31, 2023

  

December 31, 2022

 
  

Carrying

      

Carrying

     
  

Amount

  

Fair Value

  

Amount

  

Fair Value

 
  

(In thousands)

 

Financial Assets

                

Cash and due from banks

 $173,988  $173,988  $195,440  $195,440 

Short-term investments

  654,813   654,813   966,962   966,962 

Securities available-for-sale

  1,604,570   1,604,570   1,473,348   1,473,348 

Loans, net

  19,382,858   19,605,152   18,100,898   17,944,588 

Equity securities

  40,406   40,406   22,158   22,158 

Investment in Federal Home Loan Bank stock

  17,746   17,746   17,250   17,250 

Warrants

        50   50 
  

Notional

      

Notional

     
  

Amount

  

Fair Value

  

Amount

  

Fair Value

 

Foreign exchange contracts

 $124,452  $379  $72,996  $448 

Interest rate swaps

  1,406,879   54,268   817,615   44,443 

Financial Liabilities

 

Carrying

      

Carrying

     
  

Amount

  

Fair Value

  

Amount

  

Fair Value

 
                 

Deposits

 $19,325,447  $19,347,070  $18,505,279  $18,572,387 

Advances from Federal Home Loan Bank

  540,000   536,996   485,000   482,737 

Other borrowings

  15,787   13,978   22,600   18,385 

Long-term debt

  119,136   72,304   119,136   68,231 
  

Notional

      

Notional

     
  

Amount

  

Fair Value

  

Amount

  

Fair Value

 

Foreign exchange contracts

  101,378   175   170,213   942 

Interest rate swaps

  1,078,880   45,762   595,426   51,864 
  

Notional

      

Notional

     
  

Amount

  

Fair Value

  

Amount

  

Fair Value

 

Off-Balance Sheet Financial Instruments

                

Commitments to extend credit

 $3,808,620  $(14,344) $3,630,304  $(14,797)

Standby letters of credit

  368,618   (2,821)  315,821   (2,738)

Other letters of credit

  11,308   (10)  29,416   (33)
Schedule Of Fair Value Of Financial Instruments [Table Text Block]
  

As of December 31, 2023

 
  

Estimated

             
  

Fair Value

             
  

Measurements

  

Level 1

  

Level 2

  

Level 3

 
  

(In thousands)

 

Financial Assets

                

Cash and due from banks

 $173,988  $173,988  $  $ 

Short-term investments

  654,813   654,813       

Loans, net

  19,605,152         19,605,152 

Equity securities

  40,406   40,406       

Investment in Federal Home Loan Bank stock

  17,746      17,746    

   Warrants

            

Financial Liabilities

                

Deposits

  19,347,070         19,347,070 

Advances from Federal Home Loan Bank

  536,996      536,996    

Other borrowings

  13,978         13,978 

Long-term debt

  72,304      72,304    
  

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 

Equity securities

  22,158   22,158       

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