Fair Value Assets And Liabilities Measured On A Recurring Basis [Table Text Block] |
The fair value of financial assets and liabilities that are measured on a recurring basis is as follows as of December 31, 2022 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | Quoted Prices in Active Markets for Identical Instruments | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Assets: | | | | | | | | | Trading securities: | | | | | | | | | U.S. government securities | | $ | 9,823 | | | $ | 4,970 | | | $ | 4,853 | | | $ | — | | Residential agency mortgage-backed securities | | 4,406,848 | | | — | | | 4,406,848 | | | — | | Municipal securities | | 21,484 | | | — | | | 21,484 | | | — | | Other trading securities | | 26,006 | | | — | | | 26,006 | | | — | | Total trading securities | | 4,464,161 | | | 4,970 | | | 4,459,191 | | | — | | Available for sale securities: | | | | | | | | | U.S. Treasury | | 898 | | | 898 | | | — | | | — | | Municipal securities | | 624,500 | | | — | | | 624,500 | | | — | | Residential agency mortgage-backed securities | | 5,814,496 | | | — | | | 5,814,496 | | | — | | Residential non-agency mortgage-backed securities | | 577,576 | | | — | | | 577,576 | | | — | | Commercial agency mortgage-backed securities | | 4,475,917 | | | — | | | 4,475,917 | | | — | | Other debt securities | | 473 | | | — | | | — | | | 473 | | Total available for sale securities | | 11,493,860 | | | 898 | | | 11,492,489 | | | 473 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair value option securities — Residential agency mortgage-backed securities | | 296,590 | | | — | | | 296,590 | | | — | | Residential mortgage loans held for sale1 | | 75,272 | | | — | | | 68,054 | | | 7,218 | | Mortgage servicing rights, net2 | | 277,608 | | | — | | | — | | | 277,608 | | Derivative contracts, net of cash margin3 | | 880,343 | | | 2,110 | | | 878,233 | | | — | | Liabilities: | | | | | | | | | Derivative contracts, net of cash margin3 | | 554,900 | | | 16 | | | 554,884 | | | — | |
1Residential mortgage loans held for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) consist of residential mortgage loans intended for sale to U.S. government agencies that fail to meet conforming standards and are valued at 77.55% of the unpaid principal balance. 2A reconciliation of the beginning and ending fair value of mortgage servicing rights and disclosures of significant assumptions used to determine fair value are presented in Note 7, Mortgage Banking Activities. 3See Note 3 for detail of fair value of derivative contracts by contract type. Derivative contracts in asset and liability positions that were valued based on quoted prices in active markets for identical instruments (Level 1) are primarily exchange-traded interest rate derivative contracts held for trading purposes. The fair value of financial assets and liabilities that are measured on a recurring basis is as follows as of December 31, 2021 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | Quoted Prices in Active Markets for Identical Instruments | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Assets: | | | | | | | | | Trading securities: | | | | | | | | | U.S. government securities | | $ | 23,610 | | | $ | 4,999 | | | $ | 18,611 | | | $ | — | | Residential agency mortgage-backed securities | | 9,068,900 | | | — | | | 9,068,900 | | | — | | Municipal securities | | 25,783 | | | — | | | 25,783 | | | — | | Other trading securities | | 18,520 | | | — | | | 18,520 | | | — | | Total trading securities | | 9,136,813 | | | 4,999 | | | 9,131,814 | | | — | | Available for sale securities: | | | | | | | | | U.S. Treasury | | 1,000 | | | 1,000 | | | — | | | — | | Municipal securities | | 508,365 | | | — | | | 508,365 | | | — | | Residential agency mortgage-backed securities | | 8,006,616 | | | — | | | 8,006,616 | | | — | | Residential non-agency mortgage-backed securities | | 24,339 | | | — | | | 24,339 | | | — | | Commercial agency mortgage-backed securities | | 4,617,025 | | | — | | | 4,617,025 | | | — | | Other debt securities | | 472 | | | — | | | — | | | 472 | | Total available for sale securities | | 13,157,817 | | | 1,000 | | | 13,156,345 | | | 472 | | | | | | | | | | | | | | | | | | | | Fair value option securities — Residential agency mortgage-backed securities | | 43,770 | | | — | | | 43,770 | | | — | | | | | | | | | | | Residential mortgage loans held for sale1 | | 192,295 | | | — | | | 185,969 | | | 6,326 | | Mortgage servicing rights, net2 | | 163,198 | | | — | | | — | | | 163,198 | | Derivative contracts, net of cash margin3 | | 1,097,297 | | | 8,331 | | | 1,088,966 | | | — | | Liabilities: | | | | | | | | | Derivative contracts, net of cash margin3 | | 275,625 | | | — | | | 275,625 | | | — | |
1Residential mortgage loans held for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) consist of residential mortgage loans intended for sale to U.S. government agencies that fail to meet conforming standards and are valued at 95.07% of the unpaid principal balance. 2A reconciliation of the beginning and ending fair value of mortgage servicing rights and disclosures of significant assumptions used to determine fair value are presented in Note 7, Mortgage Banking Activities. 3See Note 3 for detail of fair value of derivative contracts by contract type. Derivative contracts based on quoted prices in active markets for identical instruments (Level 1) are exchange-traded interest rate derivative contracts, net of cash margin. Derivative contracts in liability positions that were valued using quoted prices in active markets for identical instruments (Level 1) are exchange-traded energy derivative contracts, fully offset by cash margin.
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Fair Value of Financial Instruments [Table Text Block] |
The following table presents the carrying values and estimated fair values of all financial instruments, including those financial assets and liabilities that are not measured and reported at fair value on a recurring basis or are measured at fair value on a non-recurring basis (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | | Carrying Value | | Estimated Fair Value | | Quoted Prices in Active Markets for Identical Instruments (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | Cash and due from banks | | $ | 943,810 | | | $ | 943,810 | | | $ | 943,810 | | | $ | — | | | $ | — | | Interest-bearing cash and cash equivalents | | 457,906 | | | 457,906 | | | 457,906 | | | — | | | — | | Trading securities: | | | | | | | | | | | U.S. government securities | | 9,823 | | | 9,823 | | | 4,970 | | | 4,853 | | | — | | Residential agency mortgage-backed securities | | 4,406,848 | | | 4,406,848 | | | — | | | 4,406,848 | | | — | | Municipal securities | | 21,484 | | | 21,484 | | | — | | | 21,484 | | | — | | Other trading securities | | 26,006 | | | 26,006 | | | — | | | 26,006 | | | — | | Total trading securities | | 4,464,161 | | | 4,464,161 | | | 4,970 | | | 4,459,191 | | | — | | Investment securities: | | | | | | | | | | | Municipal securities | | 170,629 | | | 176,621 | | | — | | | 38,106 | | | 138,515 | | Residential agency mortgage-backed securities | | 2,315,219 | | | 2,143,360 | | | — | | | 2,143,360 | | | — | | Commercial agency mortgage-backed securities | | 15,609 | | | 14,588 | | | — | | | 14,588 | | | — | | Other debt securities | | 12,788 | | | 12,199 | | | — | | | 12,199 | | | — | | Total investment securities | | 2,514,245 | | | 2,346,768 | | | — | | | 2,208,253 | | | 138,515 | | Allowance for credit losses | | (558) | | | — | | | — | | | — | | | — | | Investment securities, net of allowance | | 2,513,687 | | | 2,346,768 | | | — | | | 2,208,253 | | | 138,515 | | Available for sale securities: | | | | | | | | | | | U.S. Treasury | | 898 | | | 898 | | | 898 | | | — | | | — | | Municipal securities | | 624,500 | | | 624,500 | | | — | | | 624,500 | | | — | | Residential agency mortgage-backed securities | | 5,814,496 | | | 5,814,496 | | | — | | | 5,814,496 | | | — | | Residential non-agency mortgage-backed securities | | 577,576 | | | 577,576 | | | — | | | 577,576 | | | — | | Commercial agency mortgage-backed securities | | 4,475,917 | | | 4,475,917 | | | — | | | 4,475,917 | | | — | | Other debt securities | | 473 | | | 473 | | | — | | | — | | | 473 | | Total available for sale securities | | 11,493,860 | | | 11,493,860 | | | 898 | | | 11,492,489 | | | 473 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair value option securities — Residential agency mortgage-backed securities | | 296,590 | | | 296,590 | | | — | | | 296,590 | | | — | | Residential mortgage loans held for sale | | 75,272 | | | 75,272 | | | — | | | 68,054 | | | 7,218 | | Loans: | | | | | | | | | | | Commercial | | 14,198,187 | | | 13,891,453 | | | — | | | — | | | 13,891,453 | | Commercial real estate | | 4,606,777 | | | 4,454,048 | | | — | | | — | | | 4,454,048 | | Paycheck protection program | | 14,312 | | | 14,312 | | | — | | | — | | | 14,312 | | Loans to individuals | | 3,737,874 | | | 3,531,410 | | | — | | | — | | | 3,531,410 | | Total loans | | 22,557,150 | | | 21,891,223 | | | — | | | — | | | 21,891,223 | | Allowance for loan losses | | (235,704) | | | — | | | — | | | — | | | — | | Loans, net of allowance | | 22,321,446 | | | 21,891,223 | | | — | | | — | | | 21,891,223 | | Mortgage servicing rights | | 277,608 | | | 277,608 | | | — | | | — | | | 277,608 | | Derivative instruments with positive fair value, net of cash margin | | 880,343 | | | 880,343 | | | 2,110 | | | 878,233 | | | — | | Deposits with no stated maturity | | 33,018,863 | | | 33,018,863 | | | — | | | — | | | 33,018,863 | | Time deposits | | 1,461,842 | | | 1,431,245 | | | — | | | — | | | 1,431,245 | | Other borrowed funds | | 7,007,285 | | | 7,005,305 | | | — | | | — | | | 7,005,305 | | Subordinated debentures | | 131,205 | | | 121,497 | | | — | | | 121,497 | | | — | | Derivative instruments with negative fair value, net of cash margin | | 554,900 | | | 554,900 | | | 16 | | | 554,884 | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2021 | | | Carrying Value | | Estimated Fair Value | | Quoted Prices in Active Markets for Identical Instruments (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | Cash and due from banks | | $ | 712,067 | | | $ | 712,067 | | | $ | 712,067 | | | $ | — | | | $ | — | | Interest-bearing cash and cash equivalents | | 2,125,343 | | | 2,125,343 | | | 2,125,343 | | | — | | | — | | Trading securities: | | | | | | | | | | | U.S. government securities | | 23,610 | | | 23,610 | | | 4,999 | | | 18,611 | | | — | | Residential agency mortgage-backed securities | | 9,068,900 | | | 9,068,900 | | | — | | | 9,068,900 | | | — | | Municipal securities | | 25,783 | | | 25,783 | | | — | | | 25,783 | | | — | | Other trading securities | | 18,520 | | | 18,520 | | | — | | | 18,520 | | | — | | Total trading securities | | 9,136,813 | | | 9,136,813 | | | 4,999 | | | 9,131,814 | | | — | | Investment securities: | | | | | | | | | | | Municipal securities | | 203,772 | | | 223,609 | | | — | | | 57,698 | | | 165,911 | | Residential agency mortgage-backed securities | | 6,939 | | | 7,500 | | | — | | | 7,500 | | | — | | Other debt securities | | 288 | | | 286 | | | — | | | 286 | | | — | | Total investment securities | | 210,999 | | | 231,395 | | | — | | | 65,484 | | | 165,911 | | Allowance for credit losses | | (555) | | | — | | | — | | | — | | | — | | Investment securities, net of allowance | | 210,444 | | | 231,395 | | | — | | | 65,484 | | | 165,911 | | Available for sale securities: | | | | | | | | | | | U.S. Treasury securities | | 1,000 | | | 1,000 | | | 1,000 | | | — | | | — | | Municipal securities | | 508,365 | | | 508,365 | | | — | | | 508,365 | | | — | | Residential agency mortgage-backed securities | | 8,006,616 | | | 8,006,616 | | | — | | | 8,006,616 | | | — | | Residential non-agency mortgage-backed securities | | 24,339 | | | 24,339 | | | — | | | 24,339 | | | — | | Commercial agency mortgage-backed securities | | 4,617,025 | | | 4,617,025 | | | — | | | 4,617,025 | | | — | | Other debt securities | | 472 | | | 472 | | | — | | | — | | | 472 | | Total available for sale securities | | 13,157,817 | | | 13,157,817 | | | 1,000 | | | 13,156,345 | | | 472 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair value option securities — Residential agency mortgage-backed securities | | 43,770 | | | 43,770 | | | — | | | 43,770 | | | — | | Residential mortgage loans held for sale | | 192,295 | | | 192,295 | | | — | | | 185,969 | | | 6,326 | | Loans: | | | | | | | | | | | Commercial | | 12,506,465 | | | 12,395,664 | | | — | | | — | | | 12,395,664 | | Commercial real estate | | 3,831,325 | | | 3,786,767 | | | — | | | — | | | 3,786,767 | | Paycheck protection program | | 276,341 | | | 269,912 | | | — | | | — | | | 269,912 | | Loans to individuals | | 3,591,549 | | | 3,586,878 | | | — | | | — | | | 3,586,878 | | Total loans | | 20,205,680 | | | 20,039,221 | | | — | | | — | | | 20,039,221 | | Allowance for loan losses | | (256,421) | | | — | | | — | | | — | | | — | | Loans, net of allowance | | 19,949,259 | | | 20,039,221 | | | — | | | — | | | 20,039,221 | | Mortgage servicing rights | | 163,198 | | | 163,198 | | | — | | | — | | | 163,198 | | Derivative instruments with positive fair value, net of cash margin | | 1,097,297 | | | 1,097,297 | | | 8,331 | | | 1,088,966 | | | — | | Deposits with no stated maturity | | 39,537,731 | | | 39,537,731 | | | — | | | — | | | 39,537,731 | | Time deposits | | 1,704,328 | | | 1,703,886 | | | — | | | — | | | 1,703,886 | | Other borrowed funds | | 2,363,202 | | | 2,360,746 | | | — | | | — | | | 2,360,746 | | Subordinated debentures | | 131,226 | | | 141,761 | | | — | | | 141,761 | | | — | | Derivative instruments with negative fair value, net of cash margin | | 275,625 | | | 275,625 | | | — | | | 275,625 | | | — | |
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