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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Estimated Fair Values and Carrying Amounts of Financial Instruments
The carrying amount and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are included in the tables below. See Note 1, Summary of Significant Accounting Policies, for a description of how fair value measurements are determined, except for loans, amended upon implementation of ASU 2016-01, Financial Statements - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. See Note 2, Recent Accounting Pronouncements, in this Report for a description of how the fair value measurement is determined for loans beginning January 1, 2018.
 
 
December 31, 2018
(Dollars in thousands)
 
Carrying  Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
Measurement Category
 
 
 
 
 
 
 
 
 
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
 
Securities available for sale
$
4,783,579

 
$
4,783,579

 
$

 
$
4,783,579

 
$

 
Mortgage loans held for sale
107,734

 
107,734

 

 
107,734

 

 
Mortgage loans held for investment, at fair value option
3,143

 
3,143

 

 

 
3,143

 
Derivative instruments
27,048

 
27,048

 

 
27,048

 

 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities

 

 

 

 
 
 
Derivative instruments
22,124

 
22,124

 

 
22,124

 

 
 
 
 
 
 
 
 
 
 
 
Amortized Cost
 
 
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
690,453

 
$
690,453

 
$
690,453

 
$

 
$

 
Securities held to maturity
207,446

 
204,277

 

 
204,277

 

 
Loans and leases, carried at amortized cost, net of unearned income and allowance for loan and lease losses
22,376,101

 
22,088,236

 

 

 
22,088,236

 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
23,763,431

 
23,752,139

 

 
23,752,139

 

 
Short-term borrowings
1,482,882

 
1,482,882

 
315,882

 
1,167,000

 

 
Long-term debt
1,166,151

 
1,154,062

 

 

 
1,154,062



 
 
December 31, 2017
(Dollars in thousands)
 
Carrying Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
Measurement Category
 
 
 
 
 
 
 
 
 
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
 
Securities available for sale
$
4,590,062

 
$
4,590,062

 
$

 
$
4,590,062

 
$

 
Mortgage loans held for sale
134,916

 
134,916

 

 
134,916

 

 
Mortgage loans held for investment, at fair value option
14,953

 
14,953

 

 

 
14,953

 
Derivative instruments
31,265

 
31,265

 

 
31,265

 

 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
 
Derivative instruments
25,154

 
25,154

 

 
25,154

 

 
 
 
 
 
 
 
 
 
 
 
Amortized Cost
 
 
 
 
 
 
 
 
 
 
 
Financial Assets
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
625,724

 
$
625,724

 
$
625,724

 
$

 
$

 
Securities held to maturity
227,318

 
227,964

 

 
227,964

 

 
Loans and leases, carried at amortized cost, net of unearned income and allowance for loan and lease losses
19,922,337

 
19,811,904

 

 

 
19,811,904

 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
21,466,717

 
21,460,782

 

 
21,460,782

 

 
Short-term borrowings
991,297

 
991,297

 
516,297

 
475,000

 

 
Long-term debt
1,495,835

 
1,476,899

 

 

 
1,476,899