v3.25.2
Fair Value Of Financial Instruments
 6 Months Ended
Jun. 30, 2025
Fair Value Of Financial Instruments [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
The carrying amounts and estimated fair values of financial instruments held by the Company are set forth below. Fair value estimates are made at a specific point in time based on relevant market information. They do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for many of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, risk characteristics and economic conditions. These estimates are subjective, involve uncertainties, and cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

The estimated fair values of the Company’s financial instruments and the classification of their fair value measurement within the valuation hierarchy are as follows at June 30, 2025 and December 31, 2024:

Carrying Amount
Estimated Fair Value at June 30, 2025

(In thousands)

Level 1Level 2Level 3Total
Financial Assets
Loans:
Business$6,328,684 $— $— $6,254,565 $6,254,565 
Real estate - construction and land
1,405,398 — — 1,381,719 1,381,719 
Real estate - business
3,757,778 — — 3,697,770 3,697,770 
Real estate - personal
3,058,845 — — 2,762,320 2,762,320 
Consumer
2,157,867 — — 2,142,476 2,142,476 
Revolving home equity364,429 — — 361,334 361,334 
Consumer credit card576,151 — — 520,865 520,865 
Overdrafts
16,316 — — 16,180 16,180 
Total loans17,665,468 — — 17,137,229 17,137,229 
Loans held for sale3,592 — 3,592 — 3,592 
Investment securities9,227,413 2,655,776 6,350,781 220,856 9,227,413 
Securities purchased under agreements to resell850,000 — — 876,442 876,442 
Interest earning deposits with banks2,624,264 2,624,264 — — 2,624,264 
Cash and due from banks522,049 522,049 — — 522,049 
Derivative instruments74,222 — 73,882 340 74,222 
Assets held in trust for deferred compensation plan22,456 22,456 — — 22,456 
       Total$30,989,464 $5,824,545 $6,428,255 $18,234,867 $30,487,667 
Financial Liabilities
Non-interest bearing deposits$7,393,559 $7,393,559 $— $— $7,393,559 
Savings, interest checking and money market deposits15,727,549 15,727,549 — — 15,727,549 
Certificates of deposit2,372,920 — — 2,399,532 2,399,532 
Federal funds purchased125,975 125,975 — — 125,975 
Securities sold under agreements to repurchase2,470,486 — — 2,473,298 2,473,298 
Other borrowings14,975 359 14,616 — 14,975 
Derivative instruments23,277 — 23,150 127 23,277 
Liabilities held in trust for deferred compensation plan22,456 22,456 — — 22,456 
       Total$28,151,197 $23,269,898 $37,766 $4,872,957 $28,180,621 
Carrying Amount
Estimated Fair Value at December 31, 2024

(In thousands)
Level 1Level 2Level 3Total
Financial Assets
Loans:
Business$6,053,820 $— $— $5,943,565 $5,943,565 
Real estate - construction and land
1,409,901 — — 1,384,029 1,384,029 
Real estate - business
3,661,218 — — 3,558,862 3,558,862 
Real estate - personal
3,058,195 — — 2,738,880 2,738,880 
Consumer
2,073,123 — — 2,053,191 2,053,191 
Revolving home equity356,650 — — 353,731 353,731 
Consumer credit card595,930 — — 549,874 549,874 
Overdrafts
11,266 — — 11,120 11,120 
Total loans17,220,103 — — 16,593,252 16,593,252 
Loans held for sale3,242 — 3,242 — 3,242 
Investment securities9,453,297 2,613,830 6,608,452 231,015 9,453,297 
Federal funds sold3,000 3,000 — — 3,000 
Securities purchased under agreements to resell625,000 — — 622,021 622,021 
Interest earning deposits with banks2,624,553 2,624,553 — — 2,624,553 
Cash and due from banks748,357 748,357 — — 748,357 
Derivative instruments62,648 — 62,555 93 62,648 
Assets held in trust for deferred compensation plan21,849 21,849 — — 21,849 
       Total$30,762,049 $6,011,589 $6,674,249 $17,446,381 $30,132,219 
Financial Liabilities
Non-interest bearing deposits$8,150,669 $8,150,669 $— $— $8,150,669 
Savings, interest checking and money market deposits14,754,571 14,754,571 — — 14,754,571 
Certificates of deposit2,388,404 — — 2,409,537 2,409,537 
Federal funds purchased123,715 123,715 — — 123,715 
Securities sold under agreements to repurchase2,803,043 — — 2,806,428 2,806,428 
Derivative instruments26,963 — 26,905 58 26,963 
Liabilities held in trust for deferred compensation plan21,849 21,849 — — 21,849 
       Total$28,269,214 $23,050,804 $26,905 $5,216,023 $28,293,732