Fair value of financial instruments [Table Text Block] |
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 1 | Level 2 | Level 3 | Total | 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 equity | 364,429 | | | — | | — | | 361,334 | | 361,334 | | Consumer credit card | 576,151 | | | — | | — | | 520,865 | | 520,865 | | Overdrafts | 16,316 | | | — | | — | | 16,180 | | 16,180 | | Total loans | 17,665,468 | | | — | | — | | 17,137,229 | | 17,137,229 | | Loans held for sale | 3,592 | | | — | | 3,592 | | — | | 3,592 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Investment securities | 9,227,413 | | | 2,655,776 | | 6,350,781 | | 220,856 | | 9,227,413 | | | | | | | | | Securities purchased under agreements to resell | 850,000 | | | — | | — | | 876,442 | | 876,442 | | Interest earning deposits with banks | 2,624,264 | | | 2,624,264 | | — | | — | | 2,624,264 | | Cash and due from banks | 522,049 | | | 522,049 | | — | | — | | 522,049 | | Derivative instruments | 74,222 | | | — | | 73,882 | | 340 | | 74,222 | | Assets held in trust for deferred compensation plan | 22,456 | | | 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 deposits | 15,727,549 | | | 15,727,549 | | — | | — | | 15,727,549 | | Certificates of deposit | 2,372,920 | | | — | | — | | 2,399,532 | | 2,399,532 | | Federal funds purchased | 125,975 | | | 125,975 | | — | | — | | 125,975 | | Securities sold under agreements to repurchase | 2,470,486 | | | — | | — | | 2,473,298 | | 2,473,298 | | Other borrowings | 14,975 | | | 359 | | 14,616 | | — | | 14,975 | | Derivative instruments | 23,277 | | | — | | 23,150 | | 127 | | 23,277 | | Liabilities held in trust for deferred compensation plan | 22,456 | | | 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 1 | Level 2 | Level 3 | Total | 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 equity | 356,650 | | | — | | — | | 353,731 | | 353,731 | | Consumer credit card | 595,930 | | | — | | — | | 549,874 | | 549,874 | | Overdrafts | 11,266 | | | — | | — | | 11,120 | | 11,120 | | Total loans | 17,220,103 | | | — | | — | | 16,593,252 | | 16,593,252 | | Loans held for sale | 3,242 | | | — | | 3,242 | | — | | 3,242 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Investment securities | 9,453,297 | | | 2,613,830 | | 6,608,452 | | 231,015 | | 9,453,297 | | Federal funds sold | 3,000 | | | 3,000 | | — | | — | | 3,000 | | Securities purchased under agreements to resell | 625,000 | | | — | | — | | 622,021 | | 622,021 | | Interest earning deposits with banks | 2,624,553 | | | 2,624,553 | | — | | — | | 2,624,553 | | Cash and due from banks | 748,357 | | | 748,357 | | — | | — | | 748,357 | | Derivative instruments | 62,648 | | | — | | 62,555 | | 93 | | 62,648 | | Assets held in trust for deferred compensation plan | 21,849 | | | 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 deposits | 14,754,571 | | | 14,754,571 | | — | | — | | 14,754,571 | | Certificates of deposit | 2,388,404 | | | — | | — | | 2,409,537 | | 2,409,537 | | Federal funds purchased | 123,715 | | | 123,715 | | — | | — | | 123,715 | | Securities sold under agreements to repurchase | 2,803,043 | | | — | | — | | 2,806,428 | | 2,806,428 | | | | | | | | | Derivative instruments | 26,963 | | | — | | 26,905 | | 58 | | 26,963 | | Liabilities held in trust for deferred compensation plan | 21,849 | | | 21,849 | | — | | — | | 21,849 | | Total | $ | 28,269,214 | | | $ | 23,050,804 | | $ | 26,905 | | $ | 5,216,023 | | $ | 28,293,732 | |
|