v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The following tables present assets and liabilities measured at fair value on a recurring basis and reported on the Consolidated Balance Sheets:
June 30, 2026
Level 1Level 2Level 3Total
(dollars in thousands)
Loans held for sale$— $33,902 $— $33,902 
AFS investment securities:
State and municipal securities— 815,955 — 815,955 
Corporate debt securities— 207,575 — 207,575 
Collateralized mortgage obligations— 1,184,319 — 1,184,319 
Residential mortgage-backed securities— 765,528 — 765,528 
Commercial mortgage-backed securities— 587,673 — 587,673 
Total AFS investment securities— 3,561,050 — 3,561,050 
Other assets:
Investments held in Rabbi Trust44,161 — — 44,161 
Derivative assets620 114,478 — 115,098 
Total assets$44,781 $3,709,430 $— $3,754,211 
Other liabilities:
Deferred compensation liabilities$44,161 $— $— $44,161 
Derivative liabilities487 171,800 — 172,287 
Total liabilities$44,648 $171,800 $— $216,448 
December 31, 2025
Level 1Level 2Level 3Total
(dollars in thousands)
Loans held for sale$— $16,316 $— $16,316 
AFS investment securities:
State and municipal securities— 826,693 — 826,693 
Corporate debt securities— 214,921 — 214,921 
Collateralized mortgage obligations— 1,040,078 — 1,040,078 
Residential mortgage-backed securities— 766,717 — 766,717 
Commercial mortgage-backed securities— 559,450 — 559,450 
Total AFS investment securities— 3,407,859 — 3,407,859 
Other assets:
Investments held in Rabbi Trust39,395 — — 39,395 
Derivative assets891 128,816 — 129,707 
Total assets$40,286 $3,552,991 $— $3,593,277 
Other liabilities:
Deferred compensation liabilities$39,395 $— $— $39,395 
Derivative liabilities720 170,289 — 171,009 
Total liabilities$40,115 $170,289 $— $210,404 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis The following table presents Level 3 financial assets measured at fair value on a nonrecurring basis:
June 30,
2026		December 31,
2025
(dollars in thousands)
Loans, Net$129,776 $135,993 
OREO5,791 1,365 
MSRs(1)
54,639 49,861 
SBA servicing asset2,028 2,256 
Total assets$192,234 $189,475 
(1) Amounts shown are estimated fair value. MSRs are recorded on the Corporation's Consolidated Balance Sheets at the lower of amortized cost or fair value.
See "Note 6 - Mortgage Servicing Rights" for additional information.
Details of Book Value and Fair Value of Financial Instruments
The following tables detail the book values and the estimated fair values of the Corporation's financial instruments:
June 30, 2026
Estimated Fair Value
Carrying AmountLevel 1Level 2Level 3Total
(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents$1,263,067 $1,263,067 $— $— $1,263,067 
FRB and FHLB stock138,587 — 138,587 — 138,587 
Loans held for sale 33,902 — 33,902 — 33,902 
AFS investment securities 3,561,050 — 3,561,050 — 3,561,050 
HTM investment securities1,561,709 — 1,393,738 — 1,393,738 
Loans, net25,551,713 — — 24,179,017 24,179,017 
Accrued interest receivable121,220 121,220 — — 121,220 
Other assets 745,340 591,819 115,426 62,458 769,703 
FINANCIAL LIABILITIES
Demand and savings deposits$22,668,858 $22,668,858 $— $— $22,668,858 
Brokered deposits975,204 78,023 896,523 — 974,546 
Time deposits4,606,280 — 4,605,576 — 4,605,576 
Accrued interest payable22,811 22,811 — — 22,811 
FHLB advances552,500 552,975 — — 552,975 
Senior debt and subordinated debt469,668 — 440,508 — 440,508 
Other borrowings691,808 658,098 693 — 658,791 
Other liabilities 255,705 70,390 171,800 13,515 255,705 
December 31, 2025
Estimated Fair Value
Carrying AmountLevel 1Level 2Level 3Total
(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents$1,061,609 $1,061,609 $— $— $1,061,609 
FRB and FHLB stock121,009 — 121,009 — 121,009 
Loans held for sale16,316 — 16,316 — 16,316 
AFS investment securities3,407,859 — 3,407,859 — 3,407,859 
HTM investment securities1,425,885 — 1,267,578 — 1,267,578 
Loans, net23,780,422 — — 22,590,142 22,590,142 
Accrued interest receivable113,698 113,698 — — 113,698 
Other assets721,469 556,071 132,043 53,482 741,596 
FINANCIAL LIABILITIES
Demand and savings deposits$21,739,113 $21,739,113 $— $— $21,739,113 
Brokered deposits855,042 80,215 774,914 — 855,129 
Time deposits3,995,252 — 3,991,203 — 3,991,203 
Accrued interest payable17,130 17,130 — — 17,130 
FHLB advances250,000 251,991 — — 251,991 
Senior debt and subordinated debt367,637 — 351,870 — 351,870 
Other borrowings679,738 654,238 916 — 655,154 
Other liabilities247,490 62,228 170,290 14,972 247,490