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Fair Value Accounting and Measurement (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at the dates presented by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
Fair ValueFair Value Measurements at Reporting Date Using
Level 1Level 2Level 3
September 30, 2021(in thousands)
Assets
Debt securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations$3,378,861 $— $3,378,861 $— 
Other asset-backed securities415,909 — 415,909 — 
State and municipal securities781,173 — 781,173 — 
U.S. government agency and government-sponsored enterprise securities255,976 — 255,976 — 
Total debt securities available for sale$4,831,919 $— $4,831,919 $— 
Loans held for sale$10,847 $— $10,847 $— 
Other assets:
Interest rate lock commitments$482 $— $— $482 
Interest rate contracts$29,139 $— $29,139 $— 
Liabilities
Other liabilities:
Interest rate forward loan sales contracts$79 $— $79 $— 
Interest rate contracts$29,139 $— $29,139 $— 
Fair ValueFair Value Measurements at Reporting Date Using
Level 1Level 2Level 3
December 31, 2020(in thousands)
Assets
Debt securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations$3,814,387 $— $3,814,387 $— 
Other asset-backed securities357,479 — 357,479 — 
State and municipal securities753,572 — 753,572 — 
U.S. government agency and government-sponsored enterprise securities284,696 — 284,696 — 
Total debt securities available for sale$5,210,134 $— $5,210,134 $— 
Loans held for sale$14,760 $— $14,760 $— 
Other assets:
Interest rate lock commitments$1,096 $— $— $1,096 
Interest rate contracts$46,184 $— $46,184 $— 
Liabilities
Other liabilities:
Interest rate forward loan sales contracts$165 $— $165 $— 
Interest rate contracts$46,637 $— $46,637 $— 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following table includes a rollforward of interest rate lock commitments which utilize Level 3 inputs to determine the fair value on a recurring basis.
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(in thousands)
Balance at the beginning of the period$585 $— $1,096 $— 
Change included in earnings1,864 169 5,708 169 
Settlements(1,967)— (6,322)— 
Balance at the end of the period$482 $169 $482 $169 
Equity Securities without Readily Determinable Fair Value
The following table presents the carrying value of equity securities, without readily determinable fair values, still held as of September 30, 2021, that are measured under the measurement alternative and related adjustments recorded during the periods presented for those securities with observable price changes. These securities are included in the nonrecurring fair value tables when applicable price changes are observable.
Three Months EndedNine Months Ended
September 30,September 30,
2021202020212020
Equity securities without readily determinable fair values(in thousands)
Carrying value, beginning of period$13,425 $13,425 $13,425 $— 
Upward carrying value changes— — — 13,425 
Carrying value, end of period$13,425 $13,425 $13,425 $13,425 
Financial Assets Accounted For Fair Value On Nonrecurring Basis
The following tables set forth information related to the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the current and prior year quarterly periods:
Fair Value atFair Value Measurements 
at Reporting Date Using		Gains (Losses) During the Three Months Ended September 30, 2021Gains (Losses) During the Nine Months Ended September 30, 2021
September 30, 2021Level 1Level 2Level 3
(in thousands)
Collateral dependent loans$1,845 $— $— $1,845 $(958)$(958)
Fair Value at Fair Value Measurements 
at Reporting Date Using		Gains (Losses) During the Three Months Ended September 30, 2020Gains (Losses) During the Nine Months Ended September 30, 2020
September 30, 2020Level 1Level 2Level 3
(in thousands)
Collateral dependent loans$11,899 $— $— $11,899 $(153)$4,941 
Fair Value, by Balance Sheet Grouping
The following tables summarize carrying amounts and estimated fair values of selected financial instruments by level within the fair value hierarchy at the dates presented:
September 30, 2021
Carrying
Amount		Fair
Value		Level 1Level 2Level 3
(in thousands)
Assets
Cash and due from banks$193,715 $193,715 $193,715 $— $— 
Interest-earning deposits with banks703,760 703,760 703,760 — — 
Debt securities available for sale4,831,919 4,831,919 — 4,831,919 — 
Debt securities held to maturity2,075,158 2,071,051 — 2,071,051 — 
FHLB stock10,280 10,280 — 10,280 — 
Loans held for sale11,355 11,355 — 11,355 — 
Loans9,378,600 9,758,940 — — 9,758,940 
Interest rate contracts29,139 29,139 — 29,139 — 
Interest rate lock commitments482 482 — — 482 
Liabilities
Time deposits$330,720 $329,962 $— $329,962 $— 
FHLB advances7,372 8,739 — 8,739 — 
Repurchase agreements40,040 40,040 — 40,040 — 
Subordinated debentures35,000 35,231 — 35,231 — 
Interest rate contracts29,139 29,139 — 29,139 — 
Interest rate forward loan sales contracts79 79 — 79 — 
December 31, 2020
Carrying
Amount		Fair
Value		Level 1Level 2Level 3
(in thousands)
Assets
Cash and due from banks$218,899 $218,899 $218,899 $— $— 
Interest-earning deposits with banks434,867 434,867 434,867 — — 
Debt securities available for sale5,210,134 5,210,134 — 5,210,134 — 
FHLB stock10,280 10,280 — 10,280 — 
Loans held for sale26,481 26,481 — 26,481 — 
Loans9,278,520 9,720,592 — — 9,720,592 
Interest rate contracts46,184 46,184 — 46,184 — 
Interest rate lock commitments1,096 1,096 — — 1,096 
Liabilities
Time deposits$338,845 $338,815 $— $338,815 $— 
FHLB advances7,414 9,295 — 9,295 — 
Repurchase agreements73,859 73,859 — 73,859 — 
Subordinated debentures35,092 35,414 — 35,414 — 
Interest rate contracts46,637 46,637 — 46,637 — 
Interest rate forward loan sales contracts165 165 — 165 — 
Fair Value Option, Disclosures
The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale sold under the mandatory delivery method and accounted for under the fair value option as of the dates presented:
September 30, 2021December 31, 2020
Fair ValueAggregate Unpaid Principal BalanceFair Value Less Aggregate Unpaid Principal BalanceFair ValueAggregate Unpaid Principal BalanceFair Value Less Aggregate Unpaid Principal Balance
(in thousands)
$10,847 $10,645 $202 $14,760 $14,252 $508 
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Inputs, Assets, Quantitative Information
The range and weighted average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets, along with the valuation techniques used, are shown in the following table:
Fair Value at September 30, 2021Valuation TechniqueUnobservable InputRange (Weighted Average) (1)
(dollars in thousands)
Collateral dependent loans (2)$1,845 Fair Market Value of CollateralAdjustment to Stated Value
0.00% - 97.46% (71.44%)
__________
(1) Discount applied to appraised value or stated value (in the case of accounts receivable, fixed and intangible assets and inventory).
(2) Collateral consists of cash, accounts receivable, intangible assets, fixed assets inventory and real estate.
Fair Value at September 30, 2020Valuation TechniqueUnobservable InputRange (Weighted Average) (1)
(dollars in thousands)
Collateral dependent loans (2)$11,899 Fair Market Value of CollateralAdjustment to Stated Value
0.00% - 100.00% (15.57%)
__________
(1) Discount applied to appraised value or stated value (in the case of accounts receivable, fixed assets and inventory).
(2) Collateral consists of cash, accounts receivable, fixed assets, inventory and real estate.
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Assets And Liabilities Measured On Recurring Basis ValuationTechniques
The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring basis at the dates presented:
Fair Value at September 30, 2021Valuation TechniqueUnobservable InputRange (Weighted Average)
(dollars in thousands)
Interest rate lock commitments$482 Internal pricing modelPull-through rate
77.76% - 100.00%
(90.62%)
Fair Value at September 30, 2020Valuation TechniqueUnobservable InputRange (Weighted Average)
(dollars in thousands)
Interest rate lock commitments$169 Internal pricing modelPull-through rate
85.85% - 96.45%
(88.47%)