FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which we have elected the fair value option, are summarized below:


			Fair Value Measurements at September 30, 2026 Using
(dollars in thousands)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets
Equity securities	$	132,263	$	132,263	$	—	$	—
Investment securities available-for-sale:
U.S. Treasury	191,586		191,586		—		—
U.S. government-sponsored entities and agencies	1,294,105		—		1,294,105		—
Mortgage-backed securities - Agency	9,415,911		—		9,415,911		—
States and political subdivisions	256,688		—		256,688		—
Pooled trust preferred securities	12,987		—		12,987		—
Other securities	145,357		—		145,357		—
Loans held-for-sale	30,456		—		30,456		—
Derivative assets	319,113		—		319,113		—
Financial Liabilities
Derivative liabilities	520,026		—		520,026		—


			Fair Value Measurements at December 31, 2025 Using
(dollars in thousands)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets
Equity securities	$	128,857	$	128,857	$	—	$	—
Investment securities available-for-sale:
U.S. Treasury	214,544		214,544		—		—
U.S. government-sponsored entities and agencies	1,372,392		—		1,372,392		—
Mortgage-backed securities - Agency	9,168,035		—		9,168,035		—
States and political subdivisions	426,008		—		426,008		—
Pooled trust preferred securities	11,734		—		11,734		—
Other securities	191,737		—		191,737		—
Loans held-for-sale	52,911		—		52,911		—
Derivative assets	170,828		—		170,828		—
Financial Liabilities
Derivative liabilities	258,968		—		258,968		—

Schedule of Assets Measured at Fair Value on a Non-Recurring Basis

Assets measured at fair value on a non-recurring basis at September 30, 2026 are summarized below:


			Fair Value Measurements at September 30, 2026 Using
(dollars in thousands)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Collateral Dependent Loans:
Commercial loans	$	81,438	$	—	$	—	$	81,438
Commercial real estate loans	60,091		—		—		60,091
Foreclosed Assets:
Commercial real estate	143		—		—		143

Assets measured at fair value on a non-recurring basis at December 31, 2025 are summarized below:


			Fair Value Measurements at December 31, 2025 Using
(dollars in thousands)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Collateral Dependent Loans:
Commercial loans	$	55,471	$	—	$	—	$	55,471
Commercial real estate loans	109,852		—		—		109,852
Foreclosed Assets:
Commercial real estate	975		—		—		975
Residential	98		—		—		98

Schedule of Quantitative Information about Significant Unobservable Inputs Used in Fair Value Measurements

The table below provides quantitative information about significant unobservable inputs used in fair value measurements within Level 3 of the fair value hierarchy:

(dollars in thousands)

Fair Value

Valuation Techniques

Unobservable Input

Range (Weighted Average) (1)

September 30, 2026

Collateral Dependent Loans

Commercial loans

81,438

Discounted

Discount for type of property,

7% - 50% (33%)

cash flow

age of appraisal, and current status

Commercial real estate loans

60,091

Discounted

Discount for type of property,

6% - 50% (18%)

cash flow

age of appraisal, and current status

Foreclosed Assets

Commercial real estate (2)

143

Fair value of

Discount for type of property,

—%

collateral

age of appraisal, and current status

December 31, 2025

Collateral Dependent Loans

Commercial loans

55,471

Discounted

Discount for type of property,

8% - 50% (35%)

cash flow

age of appraisal, and current status

Commercial real estate loans

109,852

Discounted

Discount for type of property,

2% - 61% (17%)

cash flow

age of appraisal, and current status

Foreclosed Assets

Commercial real estate (2)

975

Fair value of

Discount for type of property,

30%

collateral

age of appraisal, and current status

Residential (2)

Fair value of

Discount for type of property,

44%

collateral

age of appraisal, and current status

(1)Unobservable inputs were weighted by the relative fair value of the instruments.

(2)There was only one foreclosed commercial real estate property at September 30, 2026 with no write-downs during the nine months ended September 30, 2026. There was only one foreclosed commercial real estate property and one foreclosed residential property at December 31, 2025 with write-downs during the year ended December 31, 2025, so no range or weighted average is reported.

Schedule of Difference Between the Aggregate Fair Value and the Aggregate Remaining Principal Balance

The difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected was as follows:


(dollars in thousands)	Aggregate Fair Value		Difference		Contractual Principal
September 30, 2026
Loans held-for-sale	$	30,456	$	(466)	$	30,922
December 31, 2025
Loans held-for-sale	$	52,911	$	1,148	$	51,763

The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value:


(dollars in thousands)	Other Gains and (Losses)		Interest Income		Interest (Expense)		Total Changes in Fair Values Included in Current Period Earnings
Three Months Ended September 30, 2026
Loans held-for-sale	$	(1,202)	$	—	$	(23)	$	(1,225)

Three Months Ended September 30, 2025
Loans held-for-sale	$	152	$	—	$	(72)	$	80

Nine Months Ended September 30, 2026
Loans held-for-sale	$	(1,576)	$	23	$	(61)	$	(1,614)

Nine Months Ended September 30, 2025
Loans held-for-sale	$	1,538	$	101	$	(81)	$	1,558

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Not Carried at Fair Value

The carrying amounts and estimated fair values of financial instruments not carried at fair value were as follows:


			Fair Value Measurements at September 30, 2026 Using
(dollars in thousands)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets
Cash, due from banks, money market, and other interest-earning investments	$	1,679,028	$	1,679,028	$	—	$	—
Investment securities held-to-maturity:
U.S. government-sponsored entities and agencies	827,022		—		646,493		—
Mortgage-backed securities - Agency	859,434		—		690,914		—
State and political subdivisions	1,136,471		—		926,490		—

Loans, net:
Commercial	16,007,510		—		—		16,188,235
Commercial real estate	22,451,446		—		—		22,693,254
Residential real estate	8,880,932		—		—		7,965,104
Consumer credit	3,228,517		—		—		3,313,561
Accrued interest receivable	308,943		1,106		70,514		237,323
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits	$	12,847,561	$	12,847,561	$	—	$	—
Checking, NOW, savings, and money market interest-bearing deposits	33,939,182		33,939,182		—		—
Time deposits	10,852,364		—		10,787,734		—
Federal funds purchased and interbank borrowings	484		484		—		—
Securities sold under agreements to repurchase	240,698		240,698		—		—
FHLB advances	5,484,611		—		5,451,538		—
Other borrowings	1,408,438		—		1,393,695		—
Accrued interest payable	66,631		—		66,631		—
Standby letters of credit	2,073		—		—		2,073

Off-Balance Sheet Financial Instruments
Commitments to extend credit	$	—	$	—	$	—	$	5,737


			Fair Value Measurements at December 31, 2025 Using
(dollars in thousands)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets
Cash, due from banks, money market, and other interest-earning investments	$	1,826,177	$	1,826,177	$	—	$	—
Investment securities held-to-maturity:
U.S. government-sponsored entities and agencies	840,435		—		710,909		—
Mortgage-backed securities - Agency	910,323		—		782,818		—
State and political subdivisions	1,144,730		—		1,046,511		—
Loans, net:
Commercial	14,737,809		—		—		14,831,563
Commercial real estate	21,780,686		—		—		21,806,075
Residential real estate	8,433,102		—		—		7,526,511
Consumer credit	3,243,045		—		—		3,027,561
Accrued interest receivable	306,812		894		77,288		228,630
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits	$	13,247,483	$	13,247,483	$	—	$	—
Checking, NOW, savings, and money market interest-bearing deposits	32,179,688		32,179,688		—		—
Time deposits	9,661,024		—		9,540,748		—
Federal funds purchased and interbank borrowings	100,197		100,197		—		—
Securities sold under agreements to repurchase	261,366		261,366		—		—
FHLB advances	6,237,375		—		6,229,752		—
Other borrowings	852,429		—		853,938		—
Accrued interest payable	65,291		—		65,291		—
Standby letters of credit	1,672		—		—		1,672

Off-Balance Sheet Financial Instruments
Commitments to extend credit	$	—	$	—	$	—	$	5,687