v3.26.1
Fair Value (Tables)
6 Months Ended
Jun. 30, 2026
Schedule of recorded amount of assets and liabilities measured at fair value on a recurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

  ​ ​ ​

​

​

  ​ ​ ​

Quoted Prices

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

​

​

​

In Active

​

Significant

​

​

​

​

​

​

​

​

Markets

​

Other

​

Significant

​

​

​

​

​

for Identical

​

Observable

​

Unobservable

​

​

​

​

​

Assets

​

Inputs

​

Inputs

(Dollars in thousands)

​

Fair Value

​

(Level 1)

​

(Level 2)

​

(Level 3)

June 30, 2026:

​

​

​

​

​

​

​

​

​

​

​

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Derivative financial instruments

​

$

148,889

​

$

—

​

$

148,889

​

$

—

Mortgage loans held for sale

​

 

68,738

​

 

—

​

 

68,738

​

 

—

Trading securities

​

 

191,094

​

 

—

​

 

191,094

​

 

—

Securities available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

Residential mortgage-backed securities issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

1,886,566

​

​

—

​

​

1,886,566

​

​

—

Residential collateralized mortgage-obligations issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

2,034,159

​

​

—

​

​

2,034,159

​

​

—

Commercial mortgage-backed securities issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

1,017,479

​

​

—

​

​

1,017,479

​

​

—

State and municipal obligations

​

 

1,114,750

​

 

—

​

 

1,114,750

​

 

—

Small Business Administration loan-backed securities

​

 

523,117

​

 

—

​

 

523,117

​

 

—

Corporate securities

​

​

22,106

​

​

—

​

​

22,106

​

​

—

Total securities available for sale

​

 

6,598,177

​

 

—

​

 

6,598,177

​

 

—

Mortgage servicing rights

​

 

91,442

​

 

—

​

 

—

​

 

91,442

SBA servicing asset

​

​

4,954

​

​

—

​

​

—

​

​

4,954

​

​

$

7,103,294

​

$

—

​

$

7,006,898

​

$

96,396

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Derivative financial instruments

​

$

606,665

​

$

—

​

$

606,665

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Derivative financial instruments

​

$

222,886

​

$

—

​

$

222,886

​

$

—

Mortgage loans held for sale

​

 

61,400

​

 

—

​

 

61,400

​

 

—

Trading securities

​

 

110,183

​

 

—

​

 

110,183

​

 

—

Securities available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

Residential mortgage-backed securities issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

1,698,108

​

​

—

​

​

1,698,108

​

​

—

Residential collateralized mortgage-obligations issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

2,185,584

​

​

—

​

​

2,185,584

​

​

—

Commercial mortgage-backed securities issued by U.S. government

​

​

​

​

​

​

​

​

​

​

​

​

agencies or sponsored enterprises

​

​

832,449

​

​

—

​

​

832,449

​

​

—

State and municipal obligations

​

 

1,007,412

​

 

—

​

 

1,007,412

​

 

—

Small Business Administration loan-backed securities

​

 

568,433

​

 

—

​

 

568,433

​

 

—

Corporate securities

​

 

21,770

​

 

—

​

 

21,770

​

 

—

Total securities available for sale

​

 

6,313,756

​

 

—

​

 

6,313,756

​

 

—

Mortgage servicing rights

​

 

84,032

​

 

—

​

 

—

​

 

84,032

SBA servicing asset

​

​

5,512

​

​

—

​

​

—

​

​

5,512

​

​

$

6,797,769

​

$

—

​

$

6,708,225

​

$

89,544

Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

Derivative financial instruments

​

$

554,748

​

$

—

​

$

554,748

​

$

—

Schedule of mortgage loans held for sale

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

June 30,

​

December 31,

​

(Dollars in thousands)

  ​ ​ ​

2026

 

2025

​

Fair value

​

$

68,738

​

$

61,400

​

Unpaid principal balance

​

​

66,815

​

​

59,371

​

Fair value less aggregated unpaid principal balance

​

$

1,923

​

$

2,029

​

Schedule of amounts of assets and liabilities measured at fair value on a nonrecurring basis

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Quoted Prices

  ​ ​ ​

​

​

  ​ ​ ​

​

​

 

​

​

​

​

​

In Active

​

Significant

​

​

​

 

​

​

​

​

​

Markets

​

Other

​

Significant

 

​

​

​

​

​

for Identical

​

Observable

​

Unobservable

 

​

​

​

​

​

Assets

​

Inputs

​

Inputs

 

(Dollars in thousands)

​

Fair Value

​

(Level 1)

​

(Level 2)

​

(Level 3)

 

June 30, 2026:

​

​

​

​

​

​

​

​

​

​

​

​

​

OREO

​

$

12,396

​

$

—

​

$

—

​

$

12,396

​

Individually evaluated loans

​

​

244,506

​

 

—

​

 

—

​

 

244,506

​

December 31, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

OREO

​

$

8,771

​

$

—

​

$

—

​

$

8,771

​

Individually evaluated loans

​

 

328,452

​

 

—

​

 

—

​

 

328,452

​

Schedule of quantitative information about level 3 fair value measurements

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​

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​

​

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​

​

​

​

​

​

​

​

​

​

​

Weighted Average Discount

​

​

​

​

​

​

June 30,

​

December 31,

​

  ​ ​ ​

Valuation Technique

  ​ ​ ​

Unobservable Input

  ​ ​ ​

2026

  ​ ​ ​

2025

Nonrecurring measurements:

​

​

​

​

​

​

​

​

​

​

Individually evaluated loans

 

Discounted appraisals and discounted cash flows

 

Collateral discounts

​

20

%

​

19

%

OREO and Bank properties held for sale

 

Discounted appraisals

 

Collateral discounts and estimated costs to sell

​

6

%

​

2

%

Schedule of estimated fair value, and related carrying amount, of the Company's financial instruments

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​

​

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​

​

​

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​

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​

​

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​

​

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​

​

​

  ​ ​ ​

Carrying

  ​ ​ ​

Fair

  ​ ​ ​

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​

  ​ ​ ​

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​

  ​ ​ ​

​

​

 

(Dollars in thousands)

​

Amount

​

Value

​

Level 1

​

Level 2

​

Level 3

 

June 30, 2026

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Financial assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

2,350,312

​

$

2,350,312

​

$

2,350,312

​

$

—

​

$

—

​

Trading securities

​

​

191,094

​

​

191,094

​

​

—

​

​

191,094

​

​

—

​

Investment securities

​

 

8,920,917

​

 

8,606,205

​

 

287,033

​

 

8,239,219

​

 

79,953

​

Loans held for sale

​

​

405,441

​

​

406,234

​

​

—

​

​

406,234

​

​

—

​

Loans, net of allowance for credit losses

​

 

50,260,208

​

 

49,968,238

​

 

—

​

 

—

​

 

49,968,238

​

Accrued interest receivable

​

 

238,893

​

 

238,893

​

 

—

​

 

36,943

​

 

201,950

​

Mortgage servicing rights

​

 

91,442

​

 

91,442

​

 

—

​

 

—

​

 

91,442

​

SBA servicing asset

​

​

4,954

​

​

4,954

​

​

—

​

​

—

​

​

4,954

​

Interest rate swap – non-designated hedge

​

 

147,342

​

 

147,342

​

 

—

​

 

147,342

​

 

—

​

Other derivative financial instruments (mortgage banking related)

​

 

1,547

​

 

1,547

​

 

—

​

 

1,547

​

 

—

​

Financial liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Noninterest-bearing

​

​

13,451,094

​

 

13,451,094

​

 

—

​

 

13,451,094

​

 

—

​

Interest-bearing other than time deposits

​

​

35,038,294

​

​

35,038,294

​

​

—

​

​

35,038,294

​

​

—

​

Time deposits

​

​

7,860,422

​

​

7,840,476

​

​

—

​

​

7,840,476

​

​

—

​

Federal funds purchased and securities sold under agreements to repurchase

​

 

569,486

​

 

569,486

​

 

—

​

 

569,486

​

 

—

​

Corporate and subordinated debentures

​

​

696,749

​

​

669,627

​

​

—

​

 

669,627

​

 

—

​

Other borrowings

​

 

300,000

​

 

299,995

​

 

—

​

 

299,995

​

 

—

​

Accrued interest payable

​

 

34,948

​

 

34,948

​

 

—

​

 

34,948

​

 

—

​

Interest rate swap – non-designated hedge

​

 

606,404

​

 

606,404

​

 

—

​

 

606,404

​

 

—

​

Other derivative financial instruments (mortgage banking related)

​

 

261

​

 

261

​

 

—

​

 

261

​

 

—

​

December 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Financial assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

3,172,483

​

$

3,172,483

​

$

3,172,483

​

$

—

​

$

—

​

Trading securities

​

​

110,183

​

​

110,183

​

​

—

​

​

110,183

​

​

—

​

Investment securities

​

 

8,715,214

​

 

8,400,034

​

 

274,730

​

 

8,046,606

​

 

78,698

​

Loans held for sale

​

​

345,343

​

​

348,381

​

​

—

​

​

348,381

​

​

—

​

Loans, net of allowance for credit losses

​

 

48,013,330

​

 

47,378,022

​

 

—

​

 

—

​

 

47,378,022

​

Accrued interest receivable

​

 

233,265

​

 

233,265

​

 

—

​

 

35,302

​

 

197,963

​

Mortgage servicing rights

​

 

84,032

​

 

84,032

​

 

—

​

 

—

​

 

84,032

​

SBA servicing asset

​

​

5,512

​

​

5,512

​

​

—

​

​

—

​

​

5,512

​

Interest rate swap – non-designated hedge

​

 

221,835

​

 

221,835

​

 

—

​

 

221,835

​

 

—

​

Other derivative financial instruments (mortgage banking related)

​

 

1,051

​

 

1,051

​

 

—

​

 

1,051

​

 

—

​

Financial liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Noninterest-bearing

​

​

13,375,697

​

 

13,375,697

​

 

—

​

 

13,375,697

​

 

—

​

Interest-bearing other than time deposits

​

​

34,410,867

​

​

34,410,867

​

​

—

​

​

34,410,867

​

​

—

​

Time deposits

​

​

7,359,233

​

​

7,347,648

​

​

—

​

​

7,347,648

​

​

—

​

Federal funds purchased and securities sold under agreements to repurchase

​

 

618,215

​

 

618,215

​

 

—

​

 

618,215

​

 

—

​

Corporate and subordinated debentures

​

 

696,536

​

 

683,772

​

 

—

​

 

683,772

​

 

—

​

Accrued interest payable

​

 

48,972

​

 

48,972

​

 

—

​

 

48,972

​

 

—

​

Interest rate swap – non-designated hedge

​

 

554,433

​

 

554,433

​

 

—

​

 

554,433

​

 

—

​

Other derivative financial instruments (mortgage banking related)

​

​

315

​

​

315

​

 

—

​

 

315

​

 

—

​

​

Mortgage Servicing Rights  
Schedule of reconciliation of the beginning and ending balances of Level 3 assets, comprised of Mortgage Servicing Rights, SBA servicing asset and liabilities recorded at fair value on a recurring basis

​

​

​

​

​

​

(Dollars in thousands)

  ​ ​ ​

MSRs

 

Fair value, January 1, 2026

​

$

84,032

​

Servicing assets that resulted from transfers of financial assets

​

 

3,517

​

Changes in fair value due to valuation inputs or assumptions

​

 

9,320

​

Changes in fair value due to decay

​

 

(5,427)

​

Fair value, June 30, 2026

​

$

91,442

​

SBA servicing asset  
Schedule of reconciliation of the beginning and ending balances of Level 3 assets, comprised of Mortgage Servicing Rights, SBA servicing asset and liabilities recorded at fair value on a recurring basis

​

​

​

​

​

​

(Dollars in thousands)

  ​ ​ ​

SBA Servicing Asset

 

Fair value, January 1, 2026

​

$

5,512

​

Servicing assets that resulted from transfers of financial assets

​

​

231

​

Changes in fair value due to decay

​

​

(858)

​

Changes in fair value due to valuation inputs or assumptions

​

​

69

​

Fair value, June 30, 2026

​

$

4,954

​