Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 24, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2023 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | UMBF | |
Entity Registrant Name | UMB FINANCIAL CORP | |
Entity Central Index Key | 0000101382 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 48,519,458 | |
Entity Shell Company | false | |
Entity File Number | 001-38481 | |
Entity Tax Identification Number | 43-0903811 | |
Entity Address, Address Line One | 1010 Grand Boulevard | |
Entity Address, City or Town | Kansas City | |
Entity Address, State or Province | MO | |
Entity Address, Postal Zip Code | 64106 | |
City Area Code | (816) | |
Local Phone Number | 860-7000 | |
Title of 12(b) Security | Common Stock, $1.00 Par Value | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Security Exchange Name | NASDAQ | |
Entity Incorporation, State or Country Code | MO |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
ASSETS | ||
Loans | $ 22,483,542 | $ 21,031,189 |
Allowance for credit losses on loans | (222,161) | (191,836) |
Net loans | 22,261,381 | 20,839,353 |
Loans held for sale | 3,819 | 1,978 |
Securities: | ||
Available for sale (amortized cost of $7,434,480 and $7,777,950, respectively) | 6,668,615 | 7,006,347 |
Held to maturity, net of allowance for credit losses of $2,828 and $2,407, respectively (fair value of $5,234,236 and $5,280,659, respectively) | 5,807,763 | 5,859,192 |
Trading securities | 28,887 | 17,980 |
Other securities | 428,149 | 349,758 |
Total securities | 12,933,414 | 13,233,277 |
Federal funds sold and securities purchased under agreements to resell | 319,838 | 958,597 |
Interest-bearing due from banks | 3,369,911 | 1,179,105 |
Cash and due from banks | 431,527 | 500,682 |
Premises and equipment, net | 255,127 | 263,649 |
Accrued income | 190,387 | 189,231 |
Goodwill | 207,385 | 207,385 |
Other intangibles, net | 75,184 | 78,724 |
Other assets | 1,195,069 | 1,060,480 |
Total assets | 41,243,042 | 38,512,461 |
Deposits: | ||
Noninterest-bearing demand | 12,142,906 | 13,260,363 |
Interest-bearing demand and savings | 18,184,063 | 18,461,632 |
Time deposits under $250,000 | 2,665,166 | 379,087 |
Time deposits of $250,000 or more | 528,326 | 538,051 |
Total deposits | 33,520,461 | 32,639,133 |
Federal funds purchased and repurchase agreements | 2,050,583 | 2,222,167 |
Short-term debt | 1,800,000 | |
Long-term debt | 382,280 | 381,311 |
Accrued expenses and taxes | 256,845 | 239,624 |
Other liabilities | 401,245 | 363,133 |
Total liabilities | 38,411,414 | 35,845,368 |
SHAREHOLDERS' EQUITY | ||
Common stock, $1.00 par value; 80,000,000 shares authorized; 55,056,730 shares issued, 48,517,750 and 48,319,404 shares outstanding, respectively | 55,057 | 55,057 |
Capital surplus | 1,124,977 | 1,125,949 |
Retained earnings | 2,681,448 | 2,536,086 |
Accumulated other comprehensive loss, net | (685,831) | (702,735) |
Treasury stock, 6,538,980 and 6,737,326 shares, at cost, respectively | (344,023) | (347,264) |
Total shareholders' equity | 2,831,628 | 2,667,093 |
Total liabilities and shareholders' equity | $ 41,243,042 | $ 38,512,461 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Statement Of Financial Position [Abstract] | ||
Available for sale securities, amortized cost | $ 7,434,480 | $ 7,777,950 |
Held to maturity securities, allowance for credit losses | 2,828 | 2,407 |
Held to Maturity, Fair value | $ 5,234,236 | $ 5,280,659 |
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, shares issued | 55,056,730 | 55,056,730 |
Common stock, shares outstanding | 48,517,750 | 48,319,404 |
Treasury stock, shares | 6,538,980 | 6,737,326 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
INTEREST INCOME | ||||
Loans | $ 342,994 | $ 169,919 | $ 651,435 | $ 319,389 |
Securities: | ||||
Taxable interest | 54,587 | 47,295 | 107,636 | 90,677 |
Tax-exempt interest | 25,550 | 23,538 | 50,856 | 47,393 |
Total securities income | 80,137 | 70,833 | 158,492 | 138,070 |
Federal funds and resell agreements | 3,889 | 3,497 | 9,540 | 5,947 |
Interest-bearing due from banks | 34,206 | 4,207 | 50,372 | 6,664 |
Trading securities | 154 | 114 | 288 | 299 |
Total interest income | 461,380 | 248,570 | 870,127 | 470,369 |
INTEREST EXPENSE | ||||
Deposits | 170,550 | 15,439 | 298,449 | 21,612 |
Federal funds and repurchase agreements | 24,745 | 4,998 | 48,047 | 7,146 |
Other | 40,474 | 3,342 | 56,324 | 6,465 |
Total interest expense | 235,769 | 23,779 | 402,820 | 35,223 |
Net interest income | 225,611 | 224,791 | 467,307 | 435,146 |
Provision for credit losses | 13,000 | 13,400 | 36,250 | 6,900 |
Net interest income after provision for credit losses | 212,611 | 211,391 | 431,057 | 428,246 |
NONINTEREST INCOME | ||||
Trust and securities processing | 61,589 | 58,886 | 123,948 | 118,414 |
Trading and investment banking | 4,800 | 7,123 | 10,108 | 12,563 |
Service charges on deposit accounts | 21,381 | 20,835 | 42,540 | 45,477 |
Insurance fees and commissions | 225 | 245 | 499 | 504 |
Brokerage fees | 13,604 | 12,391 | 27,280 | 15,847 |
Bankcard fees | 18,579 | 17,840 | 36,751 | 34,475 |
Investment securities gains (losses), net | 900 | 60,720 | (4,424) | 60,198 |
Other | 17,004 | (1,705) | 31,580 | 12,535 |
Total noninterest income | 138,082 | 176,335 | 268,282 | 300,013 |
NONINTEREST EXPENSE | ||||
Salaries and employee benefits | 143,312 | 121,390 | 285,810 | 252,024 |
Occupancy, net | 11,746 | 11,976 | 23,923 | 24,208 |
Equipment | 17,086 | 18,315 | 34,935 | 36,479 |
Supplies and services | 4,195 | 3,492 | 8,070 | 6,754 |
Marketing and business development | 7,124 | 5,308 | 12,459 | 10,240 |
Processing fees | 26,572 | 19,338 | 49,812 | 37,781 |
Legal and consulting | 7,059 | 11,265 | 14,344 | 18,176 |
Bankcard | 8,307 | 5,880 | 15,440 | 12,447 |
Amortization of other intangible assets | 2,117 | 1,225 | 4,415 | 2,296 |
Regulatory fees | 6,123 | 3,464 | 11,674 | 6,946 |
Other | 7,032 | 12,474 | 16,843 | 21,554 |
Total noninterest expense | 240,673 | 214,127 | 477,725 | 428,905 |
Income (loss) before taxes | 110,020 | 173,599 | 221,614 | 299,354 |
Income tax expense | 19,910 | 36,043 | 39,067 | 55,835 |
NET INCOME | $ 90,110 | $ 137,556 | $ 182,547 | $ 243,519 |
PER SHARE DATA | ||||
Net income – basic | $ 1.86 | $ 2.85 | $ 3.77 | $ 5.03 |
Net income – diluted | 1.85 | 2.83 | 3.75 | 4.99 |
Dividends | $ 0.38 | $ 0.37 | $ 0.76 | $ 0.74 |
Weighted average shares outstanding – basic | 48,514,277 | 48,347,226 | 48,474,865 | 48,376,868 |
Weighted average shares outstanding – diluted | 48,668,413 | 48,673,964 | 48,707,487 | 48,755,059 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 90,110 | $ 137,556 | $ 182,547 | $ 243,519 |
Unrealized gains and losses on debt securities: | ||||
Change in unrealized holding gains and losses, net | (87,505) | (308,352) | 6,152 | (931,262) |
Less: Reclassification adjustment for net losses included in net income | 433 | |||
Amortization of net unrealized loss on securities transferred from available-for-sale to held-to-maturity | 10,312 | 12,539 | 20,295 | 13,121 |
Change in unrealized gains and losses on debt securities | (77,193) | (295,813) | 26,880 | (918,141) |
Unrealized gains and losses on derivative hedges: | ||||
Change in unrealized gains and losses on derivative hedges, net | 1,848 | 4,437 | 321 | 9,117 |
Less: Reclassification adjustment for net gains included in net income | (2,660) | (1,090) | (5,221) | (1,941) |
Change in unrealized gains and losses on derivative hedges | (812) | 3,347 | (4,900) | 7,176 |
Other comprehensive (loss) income, before tax | (78,005) | (292,466) | 21,980 | (910,965) |
Income tax benefit (expense) | 18,950 | 70,791 | (5,076) | 219,848 |
Other comprehensive (loss) income | (59,055) | (221,675) | 16,904 | (691,117) |
Comprehensive income (loss) | $ 31,055 | $ (84,119) | $ 199,451 | $ (447,598) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |
Beginning Balance at Dec. 31, 2021 | $ 3,145,424 | $ 55,057 | $ 1,110,520 | $ 2,176,998 | $ 126,314 | $ (323,465) |
Total comprehensive income (loss) | (447,598) | 243,519 | (691,117) | |||
Dividends | (36,063) | (36,063) | ||||
Purchase of treasury stock | (31,806) | (31,806) | ||||
Issuances of equity awards, net of forfeitures | 679 | (6,630) | 7,309 | |||
Recognition of equity-based compensation | 11,223 | 11,223 | ||||
Sale of treasury stock | 285 | 174 | 111 | |||
Exercise of stock options | 744 | 217 | 527 | |||
Ending Balance at Jun. 30, 2022 | 2,642,888 | 55,057 | 1,115,504 | 2,384,454 | (564,803) | (347,324) |
Beginning Balance at Mar. 31, 2022 | 2,748,405 | 55,057 | 1,109,585 | 2,265,129 | (343,128) | (338,238) |
Total comprehensive income (loss) | (84,119) | 137,556 | (221,675) | |||
Dividends | (18,231) | (18,231) | ||||
Purchase of treasury stock | (9,319) | (9,319) | ||||
Recognition of equity-based compensation | 5,738 | 5,738 | ||||
Sale of treasury stock | 147 | 90 | 57 | |||
Exercise of stock options | 267 | 91 | 176 | |||
Ending Balance at Jun. 30, 2022 | 2,642,888 | 55,057 | 1,115,504 | 2,384,454 | (564,803) | (347,324) |
Beginning Balance at Dec. 31, 2022 | 2,667,093 | 55,057 | 1,125,949 | 2,536,086 | (702,735) | (347,264) |
Total comprehensive income (loss) | 199,451 | 182,547 | 16,904 | |||
Dividends | (37,185) | (37,185) | ||||
Purchase of treasury stock | (7,902) | (7,902) | ||||
Issuances of equity awards, net of forfeitures | 719 | (9,764) | 10,483 | |||
Recognition of equity-based compensation | 8,455 | 8,455 | ||||
Sale of treasury stock | 255 | 115 | 140 | |||
Exercise of stock options | 742 | 222 | 520 | |||
Ending Balance at Jun. 30, 2023 | 2,831,628 | 55,057 | 1,124,977 | 2,681,448 | (685,831) | (344,023) |
Beginning Balance at Mar. 31, 2023 | 2,814,659 | 55,057 | 1,120,877 | 2,609,928 | (626,776) | (344,427) |
Total comprehensive income (loss) | 31,055 | 90,110 | (59,055) | |||
Dividends | (18,590) | (18,590) | ||||
Recognition of equity-based compensation | 3,939 | 3,939 | ||||
Sale of treasury stock | 128 | 44 | 84 | |||
Exercise of stock options | 437 | 117 | 320 | |||
Ending Balance at Jun. 30, 2023 | $ 2,831,628 | $ 55,057 | $ 1,124,977 | $ 2,681,448 | $ (685,831) | $ (344,023) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Statement Of Stockholders Equity [Abstract] | ||||
Dividends, per share | $ 0.38 | $ 0.37 | $ 0.76 | $ 0.74 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
OPERATING ACTIVITIES | ||
Net income | $ 182,547 | $ 243,519 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 36,250 | 6,900 |
Net amortization of premiums and discounts from acquisition | 531 | 736 |
Depreciation and amortization | 30,063 | 26,194 |
Amortization of debt issuance costs | 438 | 225 |
Deferred income tax (benefit) expense | (10,649) | 584 |
Net (increase) decrease in trading securities and other earning assets | (10,907) | 22,229 |
Losses (gains) on investment securities, net | 4,424 | (60,198) |
Gains on sales of assets | (4,360) | (3,184) |
Amortization of securities premiums, net of discount accretion | 21,892 | 22,964 |
Originations of loans held for sale | (31,862) | (21,131) |
Gains on sales of loans held for sale, net | (608) | (609) |
Proceeds from sales of loans held for sale | 30,629 | 22,267 |
Equity-based compensation | 9,174 | 11,902 |
Changes in: | ||
Accrued income | (1,156) | (13,871) |
Accrued expenses and taxes | 16,139 | (68,434) |
Other assets and liabilities, net | (117,137) | 215,716 |
Net cash provided by operating activities | 155,408 | 405,809 |
Securities held to maturity: | ||
Maturities, calls and principal repayments | 214,861 | 223,317 |
Purchases | (149,912) | (851,840) |
Securities available for sale: | ||
Sales | 68 | 0 |
Maturities, calls and principal repayments | 843,812 | 725,027 |
Purchases | (502,731) | (1,151,486) |
Equity securities with readily determinable fair values: | ||
Sales | 17,081 | |
Purchases | (118) | (700) |
Equity securities without readily determinable fair values: | ||
Sales | 4,790 | 13 |
Maturities, calls and principal repayments | 300,874 | 83 |
Purchases | (356,646) | (16,232) |
Payment on low-income housing tax credit investment commitments | (23,110) | (22,096) |
Net increase in loans | (1,456,857) | (1,889,693) |
Net decrease in fed funds sold and resell agreements | 638,759 | 160,898 |
Net cash activity from acquisitions and divestitures | (793) | 257,767 |
Net decrease in interest-bearing balances due from other financial institutions | 60,091 | 38,596 |
Purchases of premises and equipment | (17,091) | (16,889) |
Proceeds from sales of premises and equipment | 4,369 | 6,644 |
Net cash used in investing activities | (439,634) | (2,519,510) |
FINANCING ACTIVITIES | ||
Net decrease in demand and savings deposits | (1,395,026) | (4,042,398) |
Net increase (decrease) in time deposits | 2,276,354 | (298,259) |
Net decrease in fed funds purchased and repurchase agreements | (171,584) | (577,152) |
Proceeds from short-term debt | 32,006,000 | |
Repayment of short-term debt | (30,206,000) | |
Cash dividends paid | (36,871) | (35,790) |
Proceeds from exercise of stock options and sales of treasury shares | 997 | 1,029 |
Purchases of treasury stock | (7,902) | (31,806) |
Net cash provided by (used in) financing activities | 2,465,968 | (4,984,376) |
Increase (decrease) in cash and cash equivalents | 2,181,742 | (7,098,077) |
Cash and cash equivalents at beginning of period | 1,557,874 | 9,214,564 |
Cash and cash equivalents at end of period | 3,739,616 | 2,116,487 |
Supplemental disclosures: | ||
Income tax payments | 49,656 | 54,785 |
Total interest payments | 371,211 | 31,239 |
Noncash disclosures: | ||
Acquisition of low-income housing tax credit investments | 34,831 | 27,490 |
Commitment to fund low-income housing tax credit investments | $ 34,831 | 27,490 |
Transfer of loans to other real estate owned | 12,313 | |
Transfer of securities from available-for-sale to held-to-maturity | $ 3,593,711 |
Financial Statement Presentatio
Financial Statement Presentation | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Financial Statement Presentation | 1. Financial Statement Presentation The Consolidated Financial Statements include the accounts of UMB Financial Corporation and its subsidiaries (collectively, the Company) after the elimination of all intercompany transactions. In the opinion of management of the Company, all adjustments relating to items that are of a normal recurring nature and necessary for a fair presentation of the financial position and results of operations have been made. The results of operations and cash flows for the interim periods presented may not be indicative of the results of the full year ending December 31, 2023. The financial statements should be read in conjunction with “Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations” within this Quarterly Report on Form 10-Q (the Form 10-Q) and in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission (SEC) on February 23, 2023 (the Form 10-K). The Company is a financial holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices. The Company’s national bank, UMB Bank, National Association (the Bank), has its principal office in Missouri and also has branches in Arizona, Colorado, Illinois, Kansas, Nebraska, Oklahoma, and Texas. The Company also has offices in California, Delaware, Indiana, Iowa, Minnesota, New York, Pennsylvania, South Dakota, Utah, and Wisconsin. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is provided in the Notes to Consolidated Financial Statements in the Form 10-K. Cash and cash equivalents Cash and cash equivalents includes Cash and due from banks and amounts due from the Federal Reserve Bank (FRB). Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the FRB are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets. This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of June 30, 2023 and June 30, 2022 (in thousands) : June 30, 2023 2022 Due from the FRB $ 3,308,089 $ 1,756,245 Cash and due from banks 431,527 360,242 Cash and cash equivalents at end of period $ 3,739,616 $ 2,116,487 Also included in the Interest-bearing due from banks, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $ 61.0 million and $ 63.9 million at June 30, 2023 and June 30, 2022, respectively. Per Share Data Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 154,136 and 326,738 shares issuable upon the exercise of stock options and nonvested restricted stock units granted by the Company and outstanding at June 30, 2023 and 2022, respectively. Diluted year-to-date net income per share includes the dilutive effect of 232,622 and 378,191 shares issuable upon the exercise of stock options and nonvested restricted stock units granted by the Company and outstanding at June 30, 2023 and 2022, respectively. Certain options and restricted stock units issued under employee benefits plans were excluded from the computation of diluted earnings per share because they were anti-dilutive. Outstanding stock options and restricted stock units of 266,768 and 215,902 for the three months ended June 30, 2023 and the six months ended June 30, 2023, respectively, were excluded from the computation of diluted income per share because their inclusion would have been anti-dilutive. For the three and six months ended June 30, 2022, there were no outstanding stock options or restricted stock units excluded from the computation of diluted income per share. Derivatives The Company records all derivatives on the Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Currently, three of the Company’s derivatives are designated in qualifying hedging relationships. However, the remainder of the Company’s derivatives are not designated in qualifying hedging relationships, as the derivatives are not used to manage risks within the Company’s assets or liabilities. All changes in fair value of the Company’s non-designated derivatives and fair value hedges are recognized directly in earnings. Changes in fair value of the Company’s cash flow hedges are recognized in accumulated other comprehensive income (AOCI) and are reclassified to earnings when the hedged transaction affects earnings. |
New Accounting Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Changes And Error Corrections [Abstract] | |
New Accounting Pronouncements | 3. New Accounting Pronouncements Troubled Debt Restructurings In March 2022, the FASB issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments – Credit Losses: Troubled Debt Restructurings and Vintage Disclosures.” The ASU eliminated the accounting guidance for troubled debt restructurings (TDR) by creditors and enhanced disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The amendments also added requirements to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases, disclosed by credit-quality indicator and class of financing receivable. The amendments in this update were adopted prospectively on January 1, 2023. The adoption of the amendments had no impact on the Consolidated Financial Statements aside from additional and revised financial statement disclosures. See Note 4, “Loans and Allowance for Credit Losses” for related disclosures. |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2023 | |
Receivables [Abstract] | |
Loans and Allowance for Credit Losses | 4. Loans and Allowance for Credit Losses Loan Origination/Risk Management The Company has certain lending policies and procedures in place that are designed to minimize the level of risk within the loan portfolio. Diversification of the loan portfolio manages the risk associated with fluctuations in economic conditions. Authority levels are established for the extension of credit to ensure consistency throughout the Company. It is necessary that policies, processes, and practices implemented to control the risks of individual credit transactions and portfolio segments are sound and adhered to. The Company maintains an independent loan review department that reviews and validates the risk assessment on a continual basis. Management regularly evaluates the results of the loan reviews. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Commercial loans are made based on the identified cash flows of the borrower and on the underlying collateral provided by the borrower. The cash flows of the borrower, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts from its customers. Specialty lending loans include Asset-based loans, which are offered primarily in the form of revolving lines of credit to commercial borrowers that do not generally qualify for traditional bank financing. Asset-based loans are underwritten based primarily upon the value of the collateral pledged to secure the loan, rather than on the borrower’s general financial condition. The Company utilizes pre-loan due diligence techniques, monitoring disciplines, and loan management practices common within the asset-based lending industry to underwrite loans to these borrowers. Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Company requires that an appraisal of the collateral be made at origination and on an as-needed basis, in conformity with current market conditions and regulatory requirements. The underwriting standards address both owner and non-owner-occupied real estate. Also included in Commercial real estate are Construction loans that are underwritten using feasibility studies, independent appraisal reviews, sensitivity analysis or absorption and lease rates, and financial analysis of the developers and property owners. Construction loans are based upon estimates of costs and value associated with the complete project. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their repayment being sensitive to interest rate changes, governmental regulation of real property, economic conditions, completion of the construction project, and the availability of long-term financing. Consumer real estate loans, including residential real estate and home equity loans, are underwritten based on the borrower’s loan-to-value percentage, collection remedies, and overall credit history. Consumer loans are underwritten based on the borrower’s repayment ability. The Company monitors delinquencies on all of its consumer loans and leases. The underwriting and review practices combined with the relatively small loan amounts that are spread across many individual borrowers, minimizes risk. Consumer loans and leases that are 90 days past due or more are considered non-performing. Credit cards include both commercial and consumer credit cards. Commercial credit cards are generally unsecured and are underwritten with criteria similar to commercial loans, including an analysis of the borrower’s cash flow, available business capital, and overall creditworthiness of the borrower. Consumer credit cards are underwritten based on the borrower’s repayment ability. The Company monitors delinquencies on all of its consumer credit cards and periodically reviews the distribution of credit scores relative to historical periods to monitor credit risk on its consumer credit card loans. Credit risk is a potential loss resulting from nonpayment of either the primary or secondary exposure. Credit risk is mitigated with formal risk management practices and a thorough initial credit-granting process including consistent underwriting standards and approval process. Control factors or techniques to minimize credit risk include knowing the client, understanding total exposure, analyzing the client and debtor’s financial capacity, and monitoring the client’s activities. Credit risk and portions of the portfolio risk are managed through concentration considerations, average risk ratings, and other aggregate characteristics. Loan Aging Analysis This table provides a summary of loan classes and an aging of past due loans at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 30-89 Greater than Nonaccrual Total Current Total Loans Loans Commercial and industrial $ 4,257 $ 6,029 $ 11,412 $ 21,698 $ 9,879,649 $ 9,901,347 Specialty lending — — — — 561,216 561,216 Commercial real estate 980 1,887 2,367 5,234 8,262,983 8,268,217 Consumer real estate 154 — 5,146 5,300 2,913,126 2,918,426 Consumer 75 14 38 127 131,165 131,292 Credit cards 6,736 2,745 384 9,865 435,287 445,152 Leases and other — — — — 257,892 257,892 Total loans $ 12,202 $ 10,675 $ 19,347 $ 42,224 $ 22,441,318 $ 22,483,542 December 31, 2022 30-89 Greater than Nonaccrual Total Current Total Loans Loans Commercial and industrial $ 2,456 $ 2 $ 11,356 $ 13,814 $ 9,192,172 $ 9,205,986 Specialty lending — — — — 602,706 602,706 Commercial real estate 2,167 191 2,505 4,863 7,611,223 7,616,086 Consumer real estate 10 — 4,882 4,892 2,718,377 2,723,269 Consumer 613 20 61 694 144,972 145,666 Credit cards 3,529 1,404 441 5,374 426,298 431,672 Leases and other — — 24 24 305,780 305,804 Total loans $ 8,775 $ 1,617 $ 19,269 $ 29,661 $ 21,001,528 $ 21,031,189 The Company sold consumer real estate loans with proceeds of $ 30.6 million and $ 22.3 million in the secondary market without recourse during the six months ended June 30, 2023 and 2022, respectively. The Company has ceased the recognition of interest on loans with a carrying value of $ 19.3 million at both June 30, 2023 and December 31, 2022, respectively. Restructured loans totaled $ 3.2 million and $ 5.2 million at June 30, 2023 and December 31, 2022, respectively. Loans 90 days past due and still accruing interest amounted to $ 10.7 million and $ 1.6 million at June 30, 2023 and December 31, 2022, respectively. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. There was an insignificant amount of interest reversed related to loans on nonaccrual during 2023 and 2022. Nonaccrual loans with no related allowance for credit losses totaled $ 16.9 million and $ 16.7 million at June 30, 2023 and December 31, 2022, respectively. The following tables provide the amortized cost of nonaccrual loans with no related allowance for credit losses by loan class at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Nonaccrual Amortized Cost of Nonaccrual Loans with no related Allowance Loans Commercial and industrial $ 11,412 $ 10,781 Specialty lending — — Commercial real estate 2,367 509 Consumer real estate 5,146 5,146 Consumer 38 38 Credit cards 384 384 Leases and other — — Total loans $ 19,347 $ 16,858 December 31, 2022 Nonaccrual Amortized Cost of Nonaccrual Loans with no related Allowance Loans Commercial and industrial $ 11,356 $ 9,447 Specialty lending — — Commercial real estate 2,505 2,505 Consumer real estate 4,882 4,226 Consumer 61 61 Credit cards 441 441 Leases and other 24 24 Total loans $ 19,269 $ 16,704 Amortized Cost The following tables provide a summary of the amortized cost balance of each of the Company’s loan classes disaggregated by collateral type and origination year as of June 30, 2023 and December 31, 2022, as well as the gross charge-offs by loan class and origination year for the six months ended June 30, 2023 (in thousands): June 30, 2023 Amortized Cost Basis by Origination Year - Term Loans Loan Segment 2023 2022 2021 2020 2019 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Commercial and industrial: Equipment/Accounts Receivable/Inventory $ 1,003,376 $ 1,928,647 $ 1,366,308 $ 571,225 $ 237,312 $ 136,948 $ 4,474,859 $ 19,977 $ 9,738,652 Agriculture 8,489 7,792 4,403 1,392 1,785 424 133,382 — 157,667 Overdrafts — — — — — — 5,028 — 5,028 Total Commercial and industrial 1,011,865 1,936,439 1,370,711 572,617 239,097 137,372 4,613,269 19,977 9,901,347 Current period charge-offs — — 383 — — 21 2,415 — 2,819 Specialty lending: Asset-based lending 14,750 17,686 35,766 39,233 — — 453,781 — 561,216 Total Specialty lending 14,750 17,686 35,766 39,233 — — 453,781 — 561,216 Current period charge-offs — — — — — — — — — Commercial real estate: Owner-occupied 208,503 662,949 520,440 352,935 166,053 242,445 6,290 — 2,159,615 Non-owner-occupied 359,552 996,559 835,238 545,178 306,423 233,759 31,346 — 3,308,055 Farmland 41,499 79,964 45,263 202,528 23,353 22,790 107,601 — 522,998 5+ Multi-family 1,391 27,712 35,926 32,428 18,484 6,042 5,862 — 127,845 1-4 Family construction 37,615 54,463 — — — — 1,837 — 93,915 General construction 133,015 1,004,391 842,091 4,303 689 139 71,161 — 2,055,789 Total Commercial real estate 781,575 2,826,038 2,278,958 1,137,372 515,002 505,175 224,097 — 8,268,217 Current period charge-offs — — — — — 21 — — 21 Consumer real estate: HELOC — 707 — 526 52 5,454 341,433 1,370 349,542 First lien: 1-4 family 278,992 602,615 729,894 578,067 165,771 177,351 16 63 2,532,769 Junior lien: 1-4 family 6,312 12,882 7,892 4,503 2,350 2,013 163 — 36,115 Total Consumer real estate 285,304 616,204 737,786 583,096 168,173 184,818 341,612 1,433 2,918,426 Current period charge-offs — 21 — — — 1,121 — — 1,142 Consumer: Revolving line — — — — — — 47,931 233 48,164 Auto 5,339 7,538 5,154 3,133 1,782 269 — — 23,215 Other 3,795 24,093 26,962 681 561 1,364 2,457 — 59,913 Total Consumer 9,134 31,631 32,116 3,814 2,343 1,633 50,388 233 131,292 Current period charge-offs 67 8 20 2 — 3 580 — 680 Credit cards: Consumer — — — — — — 200,986 — 200,986 Commercial — — — — — — 244,166 — 244,166 Total Credit cards — — — — — — 445,152 — 445,152 Current period charge-offs — — — — — — 3,670 — 3,670 Leases and other: Leases — — — — 712 1,190 — — 1,902 Other 24,057 101,609 18,152 18,114 32,202 14,366 47,490 — 255,990 Total Leases and other 24,057 101,609 18,152 18,114 32,914 15,556 47,490 — 257,892 Current period charge-offs — — — — — — — — — Total loans $ 2,126,685 $ 5,529,607 $ 4,473,489 $ 2,354,246 $ 957,529 $ 844,554 $ 6,175,789 $ 21,643 $ 22,483,542 December 31, 2022 Amortized Cost Basis by Origination Year - Term Loans Loan Segment 2022 2021 2020 2019 2018 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Commercial and industrial: Equipment/Accounts Receivable/Inventory $ 2,140,609 $ 1,562,527 $ 642,649 $ 267,444 $ 96,916 $ 86,787 $ 4,223,358 $ 3,926 $ 9,024,216 Agriculture 13,630 5,415 2,046 1,985 396 541 149,266 562 173,841 Overdrafts — — — — — — 7,929 — 7,929 Total Commercial and industrial 2,154,239 1,567,942 644,695 269,429 97,312 87,328 4,380,553 4,488 9,205,986 Specialty lending: Asset-based lending 18,084 55,469 36,040 — — — 493,113 — 602,706 Total Specialty lending 18,084 55,469 36,040 — — — 493,113 — 602,706 Commercial real estate: Owner-occupied 656,860 593,861 388,519 180,786 136,499 167,628 8,685 — 2,132,838 Non-owner-occupied 1,128,978 855,508 568,489 368,203 64,915 229,826 28,679 — 3,244,598 Farmland 94,989 47,092 220,796 24,057 15,963 24,162 121,054 — 548,113 5+ Multi-family 30,920 35,869 68,996 18,978 1,334 5,776 4,908 — 166,781 1-4 Family construction 61,943 15,217 — — — — 19 — 77,179 General construction 628,820 719,437 43,166 15,492 — 395 39,267 — 1,446,577 Total Commercial real estate 2,602,510 2,266,984 1,289,966 607,516 218,711 427,787 202,612 — 7,616,086 Consumer real estate: HELOC 237 — 618 224 654 5,389 339,066 981 347,169 First lien: 1-4 family 628,703 748,362 607,105 173,466 45,907 140,443 12 — 2,343,998 Junior lien: 1-4 family 13,490 8,445 5,107 2,529 940 1,504 87 — 32,102 Total Consumer real estate 642,430 756,807 612,830 176,219 47,501 147,336 339,165 981 2,723,269 Consumer: Revolving line 467 584 — — — — 58,133 1,403 60,587 Auto 9,124 6,543 4,455 2,743 335 159 — — 23,359 Other 26,306 27,751 1,096 876 1,133 591 3,967 — 61,720 Total Consumer 35,897 34,878 5,551 3,619 1,468 750 62,100 1,403 145,666 Credit cards: Consumer — — — — — — 200,348 — 200,348 Commercial — — — — — — 231,324 — 231,324 Total Credit cards — — — — — — 431,672 — 431,672 Leases and other: Leases — — — 712 — 1,224 — — 1,936 Other 125,095 34,282 22,552 32,055 17,764 1,066 71,054 — 303,868 Total Leases and other 125,095 34,282 22,552 32,767 17,764 2,290 71,054 — 305,804 Total loans $ 5,578,255 $ 4,716,362 $ 2,611,634 $ 1,089,550 $ 382,756 $ 665,491 $ 5,980,269 $ 6,872 $ 21,031,189 Accrued interest on loans totaled $ 91.6 million and $ 90.6 million as of June 30, 2023 and December 31, 2022, respectively, and is included in the Accrued income line on the Company’s Consolidated Balance Sheets. The total amount of accrued interest is excluded from the amortized cost basis of loans presented above. Further, the Company has elected not to measure an allowance for credit losses for accrued interest receivable. Credit Quality Indicators As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grading of specified classes of loans, net charge-offs, non-performing loans, and general economic conditions. The Company utilizes a risk grading matrix to assign a rating to each of its commercial, commercial real estate, and construction real estate loans. Changes in credit risk are monitored on a continuous basis and changes in risk ratings are made when identified. The loan ratings are summarized into the following categories: Non-watch list, Watch, Special Mention, Substandard, and Doubtful. Any loan not classified in one of the categories described below is considered to be a Non-watch list loan. A description of the general characteristics of the loan rating categories is as follows: • Watch – This rating represents credit exposure that presents higher than average risk and warrants greater than routine attention by Company personnel due to conditions affecting the borrower, the borrower’s industry, or the economic environment. These conditions have resulted in some degree of uncertainty that results in higher-than-average credit risk. These loans are considered pass-rated credits. • Special Mention – This rating reflects a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or the borrower’s credit position at some future date. The rating is not adversely classified and does not expose an institution to sufficient risk to warrant adverse classification. • Substandard – This rating represents an asset inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans in this category are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified as substandard. • Doubtful – This rating represents an asset that has all the weaknesses inherent in an asset classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, based on currently existing facts, conditions and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonably specific pending factors, which may work to the advantage of strengthening the asset, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, liquidation procedures, capital injection, or perfecting liens. Commercial and industrial A discussion of the credit quality indicators that impact each type of collateral securing Commercial and industrial loans is included below: Equipment, accounts receivable, and inventory General commercial and industrial loans are secured by working capital assets and non-real estate assets. The general purpose of these loans is for financing capital expenditures and current operations for commercial and industrial entities. These assets are short-term in nature. In the case of accounts receivable and inventories, the repayment of debt is reliant upon converting assets into cash or through goods and services being sold and collected. Collateral-based risk is due to aged short-term assets, which can be indicative of underlying issues with the borrower and lead to the value of the collateral being overstated. Agriculture Agricultural loans are secured by non-real estate agricultural assets. These include shorter-term assets such as equipment, crops, and livestock. The risks associated with loans to finance crops or livestock include the borrower’s ability to successfully raise and market the commodity. Adverse weather conditions and other natural perils can dramatically affect farmers’ or ranchers’ production and ability to service debt. Volatile commodity prices present another significant risk for agriculture borrowers. Market price volatility and production cost volatility can affect both revenues and expenses. Overdrafts Commercial overdrafts are typically short-term and unsecured. Some commercial borrowers tie their overdraft obligation to their line of credit, so any draw on the line of credit will satisfy the overdraft. Based on the factors noted above for each type of collateral, the Company assigns risk ratings to borrowers based on their most recently assessed financial position. The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2023 2022 2021 2020 2019 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Equipment/Accounts Receivable/Inventory Non-watch list – Pass $ 978,049 $ 1,828,379 $ 1,249,487 $ 524,956 $ 209,725 $ 129,140 $ 4,083,086 $ 19,300 $ 9,022,122 Watch – Pass 5,398 88,073 97,797 43,890 16,119 3,166 264,482 340 519,265 Special Mention 2,558 2,573 7,201 1,041 277 2,570 22,568 — 38,788 Substandard 14,053 9,622 11,323 1,338 11,191 2,072 103,152 337 153,088 Doubtful 3,318 — 500 — — — 1,571 — 5,389 Total Equipment/Accounts Receivable/Inventory $ 1,003,376 $ 1,928,647 $ 1,366,308 $ 571,225 $ 237,312 $ 136,948 $ 4,474,859 $ 19,977 $ 9,738,652 Agriculture Non-watch list – Pass $ 8,097 $ 6,514 $ 4,403 $ 1,251 $ 1,785 $ 424 $ 125,954 $ — $ 148,428 Watch – Pass — — — — — — 4,365 — 4,365 Special Mention — 728 — — — — 178 — 906 Substandard 392 550 — 141 — — 2,885 — 3,968 Doubtful — — — — — — — — — Total Agriculture $ 8,489 $ 7,792 $ 4,403 $ 1,392 $ 1,785 $ 424 $ 133,382 $ — $ 157,667 December 31, 2022 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2022 2021 2020 2019 2018 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Equipment/Accounts Receivable/Inventory Non-watch list – Pass $ 2,079,002 $ 1,466,120 $ 588,562 $ 246,387 $ 90,656 $ 83,054 $ 3,879,709 $ 3,633 $ 8,437,123 Watch – Pass 28,570 78,523 52,696 7,493 3,617 2,275 213,871 — 387,045 Special Mention 4,072 5,637 1,178 — 1,817 899 34,631 — 48,234 Substandard 26,698 12,247 213 13,564 826 559 92,352 293 146,752 Doubtful 2,267 — — — — — 2,795 — 5,062 Total Equipment/Accounts Receivable/Inventory $ 2,140,609 $ 1,562,527 $ 642,649 $ 267,444 $ 96,916 $ 86,787 $ 4,223,358 $ 3,926 $ 9,024,216 Agriculture Non-watch list – Pass $ 12,252 $ 5,351 $ 1,693 $ 1,985 $ 396 $ 541 $ 137,759 $ — $ 159,977 Watch – Pass 550 — 206 — — — 8,512 562 9,830 Special Mention 828 64 147 — — — 1,539 — 2,578 Substandard — — — — — — 1,456 — 1,456 Doubtful — — — — — — — — — Total Agriculture $ 13,630 $ 5,415 $ 2,046 $ 1,985 $ 396 $ 541 $ 149,266 $ 562 $ 173,841 Specialty lending A discussion of the credit quality indicators that impact each type of collateral securing Specialty loans is included below: Asset-based lending General asset-based loans are secured by accounts receivable, inventory, equipment, and real estate. The purpose of these loans is for financing current operations for commercial customers. The repayment of debt is reliant upon collection of the accounts receivable within 30 to 90 days or converting assets into cash or through goods and services being sold and collected. The Company tracks each individual borrower credit risk based on their loan to collateral position. Any borrower position where the underlying value of collateral is below the fair value of the loan is considered out-of-margin and inherently higher risk. The following table provides a summary of the amortized cost balance by risk rating for asset-based loans as of June 30, 2023 and December 31, 2022 (in thousands): Asset-based lending Risk June 30, 2023 December 31, 2022 In-margin $ 561,216 $ 602,706 Out-of-margin — — Total $ 561,216 $ 602,706 Commercial real estate A discussion of the credit quality indicators that impact each type of collateral securing Commercial real estate loans is included below: Owner-occupied Owner-occupied loans are secured by commercial real estate. These loans are often longer tenured and susceptible to multiple economic cycles. The loans rely on the owner-occupied operations to service debt which cover a broad spectrum of industries. Real estate debt can carry a significant amount of leverage for a borrower to maintain. Non-owner-occupied Non-owner-occupied loans are secured by commercial real estate. These loans are often longer tenured and susceptible to multiple economic cycles. The key element of risk in this type of lending is the cyclical nature of real estate markets. Although national conditions affect the overall real estate industry, the effect of national conditions on local markets is equally important. Factors such as unemployment rates, consumer demand, household formation, and the level of economic activity can vary widely from state to state and among metropolitan areas. In addition to geographic considerations, markets can be defined by property type. While all sectors are influenced by economic conditions, some sectors are more sensitive to certain economic factors than others. Farmland Farmland loans are secured by real estate used for agricultural purposes such as crop and livestock production. Assets used as collateral are long-term assets that carry the ability to have longer amortizations and maturities. Longer terms carry the risk of added susceptibility to market conditions. The limited purpose of some Agriculture-related collateral affects credit risk because such collateral may have limited or no other uses to support values when loan repayment problems emerge. 5+ Multi-family 5+ multi-family loans are secured by a multi-family residential property. The primary risks associated with this type of collateral are largely driven by economic conditions. The national and local market conditions can change with unemployment rates or competing supply of multi-family housing. Tenants may not be able to afford their housing or have better options and this can result in increased vacancy. Rents may need to be lowered to fill apartment units. Increased vacancy and lower rental rates not only drive the borrower’s ability to repay debt but also contribute to how the collateral is valued. 1-4 Family construction 1-4 family construction loans are secured by 1-4 family residential real estate and are in the process of construction or improvements being made. The predominant risk inherent to this portfolio is the risk associated with a borrower’s ability to successfully complete a project on time and within budget. Market conditions also play an important role in understanding the risk profile. Risk from adverse changes in market conditions from the start of development to completion can result in deflated collateral values. General construction General construction loans are secured by commercial real estate in process of construction or improvements being made and their repayment is dependent on the collateral’s completion. Construction lending presents unique risks not encountered in term financing of existing real estate. The predominant risk inherent to this portfolio is the risk associated with a borrower’s ability to successfully complete a project on time and within budget. Commercial properties under construction are susceptible to market and economic conditions. Demand from prospective customers may erode after construction begins because of a general economic slowdown or an increase in the supply of competing properties. Based on the factors noted above for each type of collateral, the Company assigns risk ratings to borrowers based on their most recently assessed financial position. The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2023 2022 2021 2020 2019 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Owner-occupied Non-watch list – Pass $ 208,284 $ 637,473 $ 485,221 $ 333,625 $ 142,939 $ 228,307 $ 6,290 $ — $ 2,042,139 Watch – Pass 219 7,509 22,085 14,721 12,031 3,778 — — 60,343 Special Mention — 15,338 13,134 3,777 4,128 6,830 — — 43,207 Substandard — 2,629 — 812 6,955 3,530 — — 13,926 Doubtful — — — — — — — — — Total Owner-occupied $ 208,503 $ 662,949 $ 520,440 $ 352,935 $ 166,053 $ 242,445 $ 6,290 $ — $ 2,159,615 Non-owner-occupied Non-watch list – Pass $ 323,683 $ 879,026 $ 740,654 $ 545,178 $ 218,091 $ 223,825 $ 31,346 $ — $ 2,961,803 Watch – Pass 35,869 92,999 69,886 — 88,332 — — — 287,086 Special Mention — 24,534 24,698 — — — — — 49,232 Substandard — — — — — 9,934 — — 9,934 Doubtful — — — — — — — — — Total Non-owner-occupied $ 359,552 $ 996,559 $ 835,238 $ 545,178 $ 306,423 $ 233,759 $ 31,346 $ — $ 3,308,055 Farmland Non-watch list – Pass $ 29,654 $ 50,339 $ 35,084 $ 201,064 $ 17,004 $ 21,814 $ 99,613 $ — $ 454,572 Watch – Pass — 18,328 6,306 — — 437 714 — 25,785 Special Mention — 5,505 — 380 — 539 — — 6,424 Substandard 11,845 5,792 3,873 1,084 6,349 — 7,274 — 36,217 Doubtful — — — — — — — — — Total Farmland $ 41,499 $ 79,964 $ 45,263 $ 202,528 $ 23,353 $ 22,790 $ 107,601 $ — $ 522,998 5+ Multi-family Non-watch list – Pass $ 1,391 $ 27,712 $ 35,926 $ 32,428 $ 18,484 $ 6,042 $ 5,862 $ — $ 127,845 Watch – Pass — — — — — — — — — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 5+ Multi-family $ 1,391 $ 27,712 $ 35,926 $ 32,428 $ 18,484 $ 6,042 $ 5,862 $ — $ 127,845 1-4 Family construction Non-watch list – Pass $ 37,615 $ 54,463 $ — $ — $ — $ — $ 1,837 $ — $ 93,915 Watch – Pass — — — — — — — — — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 1-4 Family construction $ 37,615 $ 54,463 $ — $ — $ — $ — $ 1,837 $ — $ 93,915 General construction Non-watch list – Pass $ 125,896 $ 1,004,391 $ 787,487 $ 4,303 $ 672 $ 125 $ 71,161 $ — $ 1,994,035 Watch – Pass 742 — 46,506 — 17 — — — 47,265 Special Mention 6,294 — — — — — — — 6,294 Substandard — — 8,098 — — 14 — — 8,112 Doubtful 83 — — — — — — — 83 Total General construction $ 133,015 $ 1,004,391 $ 842,091 $ 4,303 $ 689 $ 139 $ 71,161 $ — $ 2,055,789 December 31, 2022 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2022 2021 2020 2019 2018 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Owner-occupied Non-watch list – Pass $ 628,858 $ 559,067 $ 364,760 $ 149,183 $ 133,339 $ 162,412 $ 7,850 $ — $ 2,005,469 Watch – Pass 19,405 32,581 17,061 9,785 2,664 2,121 — — 83,617 Special Mention 5,435 2,213 5,120 18,946 — — 835 — 32,549 Substandard 3,162 — 1,578 2,872 496 3,095 — — 11,203 Doubtful — — — — — — — — — Total Owner-occupied $ 656,860 $ 593,861 $ 388,519 $ 180,786 $ 136,499 $ 167,628 $ 8,685 $ — $ 2,132,838 Non-owner-occupied Non-watch list – Pass $ 1,075,444 $ 810,926 $ 568,489 $ 356,896 $ 64,915 $ 214,635 $ 28,679 $ — $ 3,119,984 Watch – Pass 53,534 44,582 — 11,307 — 5,071 — — 114,494 Special Mention — — — — — 10,109 — — 10,109 Substandard — — — — — — — — — Doubtful — — — — — 11 — — 11 Total Non-owner-occupied $ 1,128,978 $ 855,508 $ 568,489 $ 368,203 $ 64,915 $ 229,826 $ 28,679 $ — $ 3,244,598 Farmland Non-watch list – Pass $ 62,357 $ 36,698 $ 218,704 $ 17,563 $ 2,830 $ 20,285 $ 113,385 $ — $ 471,822 Watch – Pass 20,327 6,454 1,055 101 — 2,559 395 — 30,891 Special Mention 5,505 — 1,001 — — — — — 6,506 Substandard 6,800 3,940 36 6,393 13,133 1,318 7,274 — 38,894 Doubtful — — — — — — — — — Total Farmland $ 94,989 $ 47,092 $ 220,796 $ 24,057 $ 15,963 $ 24,162 $ 121,054 $ — $ 548,113 5+ Multi-family Non-watch list – Pass $ 30,920 $ 35,869 $ 68,996 $ 18,978 $ 1,334 $ 5,776 $ 4,908 $ — $ 166,781 Watch – Pass — — — — — — — — — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 5+ Multi-family $ 30,920 $ 35,869 $ 68,996 $ 18,978 $ 1,334 $ 5,776 $ 4,908 $ — $ 166,781 1-4 Family construction Non-watch list – Pass $ 61,943 $ 15,217 $ — $ — $ — $ — $ 19 $ — $ 77,179 Watch – Pass — — — — — — — — — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 1-4 Family construction $ 61,943 $ 15,217 $ — $ — $ — $ — $ 19 $ — $ 77,179 General construction Non-watch list – Pass $ 628,479 $ 699,698 $ 43,166 $ 15,384 $ — $ 380 $ 39,267 $ — $ 1,426,374 Watch – Pass 341 — — 22 — — — — 363 Special Mention — 8,340 — — — — — — 8,340 Substandard — 11,399 — — — 15 — — 11,414 Doubtful — — — 86 — — — — 86 Total General construction $ 628,820 $ 719,437 $ 43,166 $ 15,492 $ — $ 395 $ 39,267 $ — $ 1,446,577 Consumer real estate A discussion of the credit quality indicators that impact each type of collateral securing Consumer real estate loans is included below: HELOC HELOC loans are revolving lines of credit secured by 1-4 family residential property. The primary risk is the borrower’s inability to repay debt. Revolving notes are often associated with HELOCs that can be secured by real estate without a 1st lien priority. Collateral is susceptible to market volatility impacting home values or economic downturns. First lien: 1-4 family First lien 1-4 family loans are secured by a first lien on 1-4 family residential property. These term loans carry longer maturities and amortizations. The longer tenure exposes th |
Securities
Securities | 6 Months Ended |
Jun. 30, 2023 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | 5. Securities Securities Available for Sale This table provides detailed information about securities available for sale at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Amortized Gross Gross Fair U.S. Treasury $ 810,770 $ — $ ( 22,946 ) $ 787,824 U.S. Agencies 178,112 — ( 5,811 ) 172,301 Mortgage-backed 4,307,758 49 ( 594,987 ) 3,712,820 State and political subdivisions 1,399,314 1,341 ( 96,960 ) 1,303,695 Corporates 384,855 — ( 42,199 ) 342,656 Collateralized loan obligations 353,671 218 ( 4,570 ) 349,319 Total $ 7,434,480 $ 1,608 $ ( 767,473 ) $ 6,668,615 December 31, 2022 Amortized Gross Gross Fair U.S. Treasury $ 804,158 $ 58 $ ( 27,146 ) $ 777,070 U.S. Agencies 178,261 — ( 6,965 ) 171,296 Mortgage-backed 4,574,905 92 ( 592,875 ) 3,982,122 State and political subdivisions 1,465,598 1,608 ( 104,799 ) 1,362,407 Corporates 401,059 — ( 33,559 ) 367,500 Collateralized loan obligations 353,969 32 ( 8,049 ) 345,952 Total $ 7,777,950 $ 1,790 $ ( 773,393 ) $ 7,006,347 The following table presents contractual maturity information for securities available for sale at June 30, 2023 (in thousands): Amortized Fair Cost Value Due in 1 year or less $ 810,149 $ 793,247 Due after 1 year through 5 years 1,044,011 998,795 Due after 5 years through 10 years 739,996 691,121 Due after 10 years 532,566 472,632 Total 3,126,722 2,955,795 Mortgage-backed securities 4,307,758 3,712,820 Total securities available for sale $ 7,434,480 $ 6,668,615 Securities may be disposed of before contractual maturities due to sales by the Company or because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. For the six months ended June 30, 2023, there were $ 68 thousand in proceeds from the sales of securities available for sale. For the six months ended June 30, 2022, there were no sales of securities available for sale. There were no gross realized gains for either the six months ended June 30, 2023 or 2022. Securities transactions resulted in gross realized losses of $ 2 thousand for the six months ended June 30, 2023. There were no gross realized losses for the six months ended June 30, 2022. There were $ 10.2 billion and $ 10.3 billion of securities pledged to secure U.S. Government deposits, other public deposits, certain trust deposits, derivative transactions, and repurchase agreements at June 30, 2023 and December 31, 2022, respectively. Accrued interest on securities available for sale totaled $ 31.5 million and $ 32.1 million as of June 30, 2023 and December 31, 2022, respectively, and is included in the Accrued income line on the Company’s Consolidated Balance Sheets. The total amount of accrued interest is excluded from the amortized cost of available-for-sale securities presented above. Further, the Company has elected not to measure an ACL for accrued interest receivable. The following table shows the Company’s available-for-sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2023 and December 31, 2022 (in thousands): Less than 12 months 12 months or more Total June 30, 2023 Count Fair Value Unrealized Count Fair Value Unrealized Count Fair Value Unrealized Description of Securities U.S. Treasury 8 $ 56,846 $ ( 673 ) 61 $ 730,978 $ ( 22,273 ) 69 $ 787,824 $ ( 22,946 ) U.S. Agencies — — — 29 172,301 ( 5,811 ) 29 172,301 ( 5,811 ) Mortgage-backed 157 445,406 ( 24,090 ) 719 3,257,924 ( 570,897 ) 876 3,703,330 ( 594,987 ) State and political subdivisions 953 449,733 ( 9,411 ) 1,022 689,601 ( 87,549 ) 1,975 1,139,334 ( 96,960 ) Corporates 7 14,500 ( 758 ) 262 328,156 ( 41,441 ) 269 342,656 ( 42,199 ) Collateralized loan obligations 5 28,996 ( 135 ) 37 259,016 ( 4,435 ) 42 288,012 ( 4,570 ) Total 1,130 $ 995,481 $ ( 35,067 ) 2,130 $ 5,437,976 $ ( 732,406 ) 3,260 $ 6,433,457 $ ( 767,473 ) Less than 12 months 12 months or more Total December 31, 2022 Count Fair Value Unrealized Count Fair Value Unrealized Count Fair Value Unrealized Description of Securities U.S. Treasury 61 $ 688,208 $ ( 22,731 ) 4 $ 55,314 $ ( 4,415 ) 65 $ 743,522 $ ( 27,146 ) U.S. Agencies 27 140,877 ( 4,734 ) 2 30,419 ( 2,231 ) 29 171,296 ( 6,965 ) Mortgage-backed 687 1,415,169 ( 102,881 ) 205 2,557,035 ( 489,994 ) 892 3,972,204 ( 592,875 ) State and political subdivisions 1,744 936,865 ( 51,427 ) 273 233,679 ( 53,372 ) 2,017 1,170,544 ( 104,799 ) Corporates 86 146,615 ( 8,783 ) 189 216,885 ( 24,776 ) 275 363,500 ( 33,559 ) Collateralized loan obligations 41 326,659 ( 7,820 ) 1 4,785 ( 229 ) 42 331,444 ( 8,049 ) Total 2,646 $ 3,654,393 $ ( 198,376 ) 674 $ 3,098,117 $ ( 575,017 ) 3,320 $ 6,752,510 $ ( 773,393 ) The unrealized losses in the Company’s investments were caused by changes in interest rates, and not from a decline in credit of the underlying issuers. The U.S. Treasury, U.S. Agency, and GSE mortgage-backed securities are all considered to be agency-backed securities with no risk of loss as they are either explicitly or implicitly guaranteed by the U.S. government. The changes in fair value in the agency-backed portfolios are solely driven by change in interest rates caused by changing economic conditions. The Company has no knowledge of any underlying credit issues and the cash flows underlying the debt securities have not changed and are not expected to be impacted by changes in interest rates. For the State and political subdivision portfolio, the majority of the Company’s holdings are in general obligation bonds, which have a very low historical default rate due to issuers generally having unlimited taxing authority to service the debt. For the State and political, Corporate, and Collateralized loan obligations portfolios, the Company has a robust process for monitoring credit risk, including both pre-purchase and ongoing post-purchase credit reviews and analysis. The Company monitors credit ratings of all bond issuers in these segments and reviews available financial data, including market and sector trends. During the six months ended June 30, 2023, the Company recorded a $ 4.9 million impairment on one Corporate available-for-sale security. As of June 30, 2023 and December 31, 2022, there was no ACL related to the Company’s available-for-sale securities as the decline in fair value did not result from credit issues. Securities Held to Maturity The following table provides detailed information about securities held to maturity at June 30, 2023 and December 31, 2022, respectively (in thousands): June 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Net Carrying Amount U.S. Agencies $ 123,150 $ — $ ( 4,584 ) $ 118,566 $ — $ 123,150 Mortgage-backed 2,854,688 5 ( 397,276 ) 2,457,417 — 2,854,688 State and political subdivisions 2,832,753 30,355 ( 204,855 ) 2,658,253 ( 2,828 ) 2,829,925 Total $ 5,810,591 $ 30,360 $ ( 606,715 ) $ 5,234,236 $ ( 2,828 ) $ 5,807,763 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Net Carrying Amount U.S. Agencies $ 123,091 $ — $ ( 4,567 ) $ 118,524 $ — $ 123,091 Mortgage-backed 2,965,586 11 ( 392,530 ) 2,573,067 — 2,965,586 State and political subdivisions 2,772,922 17,618 ( 201,472 ) 2,589,068 ( 2,407 ) 2,770,515 Total $ 5,861,599 $ 17,629 $ ( 598,569 ) $ 5,280,659 $ ( 2,407 ) $ 5,859,192 The following table presents contractual maturity information for securities held to maturity at June 30, 2023 (in thousands): Amortized Fair Cost Value Due in 1 year or less $ 94,047 $ 93,373 Due after 1 year through 5 years 315,932 305,894 Due after 5 years through 10 years 841,919 805,379 Due after 10 years 1,704,005 1,572,173 Total 2,955,903 2,776,819 Mortgage-backed securities 2,854,688 2,457,417 Total securities held to maturity $ 5,810,591 $ 5,234,236 Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. There were no sales of securities held to maturity during the six months ended June 30, 2023 or 2022. During the year ended December 31, 2022, securities with an amortized cost of $ 4.1 billion and a fair value of $ 3.8 billion were transferred from the available-for-sale classification to the held-to-maturity classification as the Company has the positive intent and ability to hold these securities to maturity. The transfers of securities were made at fair value at the time of transfer. The unrealized holding loss at the time of transfer is retained in AOCI and will be amortized over the remaining life of the securities, offsetting the related amortization of discount or premium on the transferred securities. No gains or losses were recognized at the time of the transfers. The amortized cost balance of securities held to maturity in the tables above includes a net unamortized unrealized loss of $ 226.7 million at June 30, 2023. Accrued interest on securities held to maturity totaled $ 27.0 million at both June 30, 2023 and December 31, 2022, and is included in the Accrued income line on the Company’s Consolidated Balance Sheets. The total amount of accrued interest is excluded from the amortized cost of held-to-maturity securities presented above. Further, the Company has elected not to measure an ACL for accrued interest receivable. The following table shows the Company’s held-to-maturity investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2023 and December 31, 2022, respectively (in thousands): Less than 12 months 12 months or more Total June 30, 2023 Count Fair Value Unrealized Losses Count Fair Value Unrealized Losses Count Fair Value Unrealized Losses U.S. Agencies — $ — $ — 11 $ 118,566 $ ( 4,584 ) 11 $ 118,566 $ ( 4,584 ) Mortgage-backed 13 40,190 ( 3,165 ) 252 2,414,916 ( 394,111 ) 265 2,455,106 ( 397,276 ) State and political subdivisions 204 459,873 ( 18,163 ) 1,302 1,691,797 ( 186,692 ) 1,506 2,151,670 ( 204,855 ) Total 217 $ 500,063 $ ( 21,328 ) 1,565 $ 4,225,279 $ ( 585,387 ) 1,782 $ 4,725,342 $ ( 606,715 ) Less than 12 months 12 months or more Total December 31, 2022 Count Fair Value Unrealized Count Fair Value Unrealized Count Fair Value Unrealized U.S. Agency 11 $ 118,524 $ ( 4,567 ) — $ — $ — 11 $ 118,524 $ ( 4,567 ) Mortgage-backed 254 2,342,656 ( 346,611 ) 11 228,079 ( 45,919 ) 265 2,570,735 ( 392,530 ) State and political subdivisions 1,403 1,543,692 ( 177,957 ) 61 617,805 ( 23,515 ) 1,464 2,161,497 ( 201,472 ) Total 1,668 $ 4,004,872 $ ( 529,135 ) 72 $ 845,884 $ ( 69,434 ) 1,740 $ 4,850,756 $ ( 598,569 ) The unrealized losses in the Company’s held-to-maturity portfolio were caused by changes in the interest rate environment. The U.S. Agency and GSE mortgage-backed securities are considered to be agency-backed securities with no risk of loss as they are either explicitly or implicitly guaranteed by the U.S. government. Therefore, the Company’s expected lifetime loss for these portfolios is zero and there is no ACL recorded for these portfolios. The Company has no knowledge of any underlying credit issues and the cash flows underlying the debt securities have not changed and are not expected to be impacted by changes in interest rates. For the State and political subdivision portfolio, the Company’s holdings are in general obligation bonds as well as private placement bonds, which have very low historical default rates due to issuers generally having unlimited taxing authority to service the debt. The Company has a robust process for monitoring credit risk, including both pre-purchase and ongoing post-purchase credit reviews and analysis. The Company monitors credit ratings of all bond issuers in these segments and reviews available financial data, including market and sector trends. The underlying bonds are evaluated for credit losses in conjunction with management’s estimate of the ACL based on credit rating. The following tables show the amortized cost basis by credit rating of the Company’s held-to-maturity investments at June 30, 2023 and December 31, 2022 (in thousands): Amortized Cost Basis by Credit Rating - HTM Debt Securities June 30, 2023 AAA AA A BBB BB B CCC-C Total State and political subdivisions: Competitive $ — $ — $ 468,632 $ 645,720 $ 17,617 $ 17,438 $ 2,793 $ 1,152,200 Utilities 762,228 804,774 84,109 28,844 598 — — 1,680,553 Total state and political subdivisions $ 762,228 $ 804,774 $ 552,741 $ 674,564 $ 18,215 $ 17,438 $ 2,793 $ 2,832,753 Amortized Cost Basis by Credit Rating - HTM Debt Securities December 31, 2022 AAA AA A BBB BB CCC-C Total State and political subdivisions: Competitive $ — $ — $ 435,953 $ 618,517 $ 17,120 $ 2,934 $ 1,074,524 Utilities 759,539 824,386 84,293 29,599 581 — 1,698,398 Total state and political subdivisions $ 759,539 $ 824,386 $ 520,246 $ 648,116 $ 17,701 $ 2,934 $ 2,772,922 Competitive held-to-maturity securities include not-for-profit enterprises that provide public functions such as housing, higher education or healthcare, but do so in a competitive environment. It also includes project financings that can have relatively high enterprise risk, such as deals backed by revenues from sports or convention facilities or start-up transportation ventures. Utilities and general obligation are public enterprises providing essential services with a monopoly or near-monopoly over the service area. This includes environmental utilities (water, sewer, solid waste), power utilities (electric distribution and generation, gas), and transportation utilities (airports, parking, toll roads, mass transit, ports). All held-to-maturity securities were current and not past due at June 30, 2023 and at December 31, 2022. Trading Securities There were net unrealized losses on trading securities of $ 1 thousand and net unrealized gains of $ 26 thousand at June 30, 2023 and 2022, respectively. Net unrealized gains and losses are included in trading and investment banking income on the Company’s Consolidated Statements of Income. Securities sold not yet purchased totaled $ 7.2 million and $ 3.5 million at June 30, 2023 and December 31, 2022, respectively, and are classified within the Other liabilities line of the Company’s Consolidated Balance Sheets. Other Securities The table below provides detailed information for Other securities at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 FRB and FHLB stock $ 82,672 $ 41,472 Equity securities with readily determinable fair values 10,925 10,782 Equity securities without readily determinable fair values 334,552 297,504 Total $ 428,149 $ 349,758 Investment in FRB stock is based on the capital structure of the investing bank, and investment in FHLB stock is mainly tied to the level of borrowings from the FHLB. These holdings are carried at cost. Equity securities with readily determinable fair values are generally traded on an exchange and market prices are readily available. Equity securities without readily determinable fair values include equity investments which are held by a subsidiary qualified as a Small Business Investment Company, as well as investments in low-income housing partnerships within the areas the Company serves. Unrealized gains or losses on equity securities with and without readily determinable fair values are recognized in the Investment securities gains, net line of the Company’s Consolidated Statements of Income. Investment Securities Gains, Net The table below presents the components of Investments securities gains (losses), net for the three and six months ended June 30, 2023 and June 30, 2022 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Investment securities gain (losses), net Available-for-sale debt securities: Gains realized on sales $ — $ — $ — $ — Losses realized on sales — — ( 2 ) — Impairment of AFS security ( 125 ) — ( 4,925 ) — Equity securities with readily determinable fair values: Fair value adjustments, net ( 62 ) ( 5,407 ) 26 ( 7,129 ) Equity securities without readily determinable fair values: Fair value adjustments, net 1,087 ( 35 ) 477 1,165 Sales — 66,162 — 66,162 Total investment securities gains (losses), net $ 900 $ 60,720 $ ( 4,424 ) $ 60,198 During June 2022, the Company sold the entirety of its Visa Inc. Class B common shares in a cash transaction which resulted in a pre-tax gain of $ 66.2 million. Prior to the sale, the Visa Inc. Class B shares had no carrying value on the Company’s Consolidated Balance Sheets as the Company had no historical cost basis in the shares. |
Goodwill and Other Intangibles
Goodwill and Other Intangibles | 6 Months Ended |
Jun. 30, 2023 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangibles | 6. Goodwill and Other Intangibles Changes in the carrying amount of goodwill for the periods ended June 30, 2023 and December 31, 2022 by reportable segment are as follows (in thousands): Commercial Banking Institutional Banking Personal Banking Total Balances as of January 1, 2023 $ 63,113 $ 76,492 $ 67,780 $ 207,385 Balances as of June 30, 2023 $ 63,113 $ 76,492 $ 67,780 $ 207,385 Balances as of January 1, 2022 $ 59,419 $ 51,332 $ 63,767 $ 174,518 Healthcare savings account business acquisition — 25,160 — 25,160 Branch acquisition 3,694 — 4,013 7,707 Balances as of December 31, 2022 $ 63,113 $ 76,492 $ 67,780 $ 207,385 The following table lists the finite-lived intangible assets that continue to be subject to amortization as of June 30, 2023 and December 31, 2022 (in thousands) : As of June 30, 2023 Core Deposit Intangible Assets Customer Relationships Total Gross carrying amount $ 14,130 $ 115,853 $ 129,983 Accumulated amortization 12,618 42,181 54,799 Net carrying amount $ 1,512 $ 73,672 $ 75,184 As of December 31, 2022 Core Deposit Intangible Assets Customer Relationships Total Gross carrying amount $ 16,661 $ 114,978 $ 131,639 Accumulated amortization 14,827 38,088 52,915 Net carrying amount $ 1,834 $ 76,890 $ 78,724 On November 18, 2022, the Company acquired a healthcare savings account business, which included $ 383.0 million of deposits. The purchase resulted in recognition of $ 25.2 million of goodwill and a $ 67.0 million customer relationship intangible asset. On March 28, 2022, the Company acquired a bank branch. Included in the branch acquisition were $ 43.0 million in loans and $ 226.8 million of deposits. The purchase resulted in recognition of $ 7.7 million of goodwill and a $ 2.3 million core deposit intangible asset. The following table has the aggregate amortization expense recognized in each period (in thousands) : Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Aggregate amortization expense $ 2,117 $ 1,225 $ 4,415 $ 2,296 The following table lists estimated amortization expense of intangible assets in future periods (in thousands): For the six months ending December 31, 2023 $ 4,171 For the year ending December 31, 2024 7,694 For the year ending December 31, 2025 7,487 For the year ending December 31, 2026 6,628 For the year ending December 31, 2027 4,655 |
Borrowed Funds
Borrowed Funds | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Borrowed Funds | 7. Borrowed Funds The components of the Company's short-term and long-term debt are as follows (in thousands) : June 30, 2023 December 31, 2022 Short-term debt: Federal Home Loan Bank 5.04 % due 2024 $ 1,000,000 $ — Federal Reserve Bank Term Funding Program 4.70 % due 2023 800,000 — Total short-term debt 1,800,000 — Long-term debt: Trust Preferred Securities: Marquette Capital Trust I Subordinated Debentures 6.59 % due 2036 18,463 18,319 Marquette Capital Trust II Subordinated Debentures 6.59 % due 2036 18,998 18,863 Marquette Capital Trust III Subordinated Debentures 7.04 % due 2036 7,466 7,415 Marquette Capital Trust IV Subordinated Debentures 7.15 % due 2036 30,157 29,956 Subordinated notes 3.70 % due 2030 , net of issuance costs 199,006 198,781 Subordinated notes 6.25 % due 2032 , net issuance costs 108,190 107,977 Total long-term debt 382,280 381,311 Total borrowed funds $ 2,182,280 $ 381,311 The Company assumed long-term debt obligations from the acquisition of Marquette Financial Companies (Marquette) consisting of debt obligations payable to four unconsolidated trusts (Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III, and Marquette Capital Trust IV) that previously issued trust preferred securities. These long-term debt obligations had an aggregate contractual balance of $ 103.1 million and had a carrying value of $ 75.1 million as of June 30, 2023. Interest rates on trust preferred securities are tied to the three-month term Secured Overnight Financing Rate (SOFR) with spreads ranging from 133 basis points to 160 basis points and reset quarterly. The trust preferred securities have maturity dates ranging from January 2036 to September 2036 . In September 2020 , the Company issued $ 200.0 million of 3.70 % fixed-to-fixed rate subordinated notes that mature on September 17, 2030 . The notes bear interest at the rate of 3.70 % per annum, payable semi-annually on each March 17 and September 17. The Company may redeem the notes, in whole or in part, on September 17, 2025, or on any interest payment date thereafter. Unamortized debt issuance costs related to these notes totaled $ 1.0 million as of June 30, 2023. Proceeds from the issuance of the notes were used for general corporate purposes, including contributing Tier 1 capital into the Bank. In September 2022 , the Company issued $ 110.0 million of 6.25 % fixed-to-fixed rate subordinated notes that mature on September 28, 2032 . The notes bear interest at the rate of 6.25 % per annum, payable semi-annually on each March 28 and September 28. The Company may redeem the notes, in whole or in part, on September 28, 2027, or on any interest payment date thereafter. Unamortized debt issuance costs related to these notes totaled $ 1.8 million as of June 30, 2023. Proceeds from the issuance of the notes were used for general corporate purposes, including contributing Tier 1 capital into the Bank. The Company is a member bank of the FHLB of Des Moines. Through this relationship, the Company purchased $ 50.2 million of FHLB stock and has access to additional liquidity and funding sources through FHLB advances. The Company’s borrowing capacity is dependent upon the amount of collateral the Company places at the FHLB. The Company had a $ 1.0 billion short-term advance outstanding at FHLB of Des Moines as of June 30, 2023. Additionally, in 2023, the FHLB of Des Moines issued a letter of credit for $ 150.0 million on behalf of the Company to secure deposits. This letter of credit will expire in October 2023 . The Company’s borrowing capacity with the FHLB was $ 721.0 million as of June 30, 2023. The Company had an $ 800.0 million short-term borrowing outstanding with the Federal Reserve Bank's Bank Term Funding Program (BTFP) as of June 30, 2023. The Company’s remaining borrowing capacity with the BTFP was $ 40.0 million and its remaining borrowing capacity at the Federal Reserve Discount Window was $ 9.6 billion as of June 30, 2023. The Company has a revolving line of credit with Wells Fargo Bank, N.A. which allows the Company to borrow up to $ 30.0 million for general working capital purposes. The interest rate applied to borrowed balances will be at the Company’s option either 1.40% above Term SOFR or 1.75% below the prime rate on the date of an advance. The Company pays a 0.4 % unused commitment fee for unused portions of the line of credit. The Company currently has no outstanding balance on this line of credit. The Company enters into sales of securities with simultaneous agreements to repurchase (repurchase agreements). The Company utilizes repurchase agreements to facilitate the needs of customers and to facilitate secured short-term funding needs. Repurchase agreements are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis and may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents. The table below presents the remaining contractual maturities of repurchase agreements outstanding at June 30, 2023 and December 31, 2022, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands): As of June 30, 2023 Remaining Contractual Maturities of the Agreements 2-29 Days 30-90 Days Over 90 Days Total Repurchase agreements, secured by: U.S. Treasury $ 65,334 $ — $ 46,805 $ 112,139 U.S. Agencies 1,610,136 202,132 52,195 1,864,463 Total repurchase agreements $ 1,675,470 $ 202,132 $ 99,000 $ 1,976,602 As of December 31, 2022 Remaining Contractual Maturities of the Agreements 2-29 Days 30-90 Days Total Repurchase agreements, secured by: U.S. Treasury $ 33,888 $ — $ 33,888 U.S. Agencies 1,835,298 290,501 2,125,799 Total repurchase agreements $ 1,869,186 $ 290,501 $ 2,159,687 |
Business Segment Reporting
Business Segment Reporting | 6 Months Ended |
Jun. 30, 2023 | |
Segment Reporting [Abstract] | |
Business Segment Reporting | 8. Business Segment Reporting The Company has strategically aligned its operations into the following three reportable segments: Commercial Banking, Institutional Banking, and Personal Banking (collectively, the Business Segments, and each, a Business Segment). The Company’s senior executive officers regularly evaluate the Business Segment financial results produced by the Company’s internal reporting system in deciding how to allocate resources and assess performance for individual Business Segments. For comparability purposes, amounts in all periods are based on methodologies in effect at June 30, 2023. Previously reported results have been reclassified in this Form 10-Q to conform to the Company’s current organizational structure. The following summaries provide information about the activities of each Business Segment: Commercial Banking serves the commercial banking and treasury management needs of the Company’s small to middle-market businesses through a variety of products and services. Such services include commercial loans, commercial real estate financing, commercial credit cards, letters of credit, loan syndication services, and consultative services. In addition, the Company’s specialty lending group offers a variety of business solutions including asset-based lending, mezzanine debt and minority equity investments. Treasury management services include depository services, account reconciliation and cash management tools such as, accounts payable and receivable solutions, electronic funds transfer and automated payments, controlled disbursements, lockbox services and remote deposit capture services. Institutional Banking is a combination of banking services, fund services, asset management services and healthcare services provided to institutional clients. This segment also provides fixed income sales, trading and underwriting, corporate trust and escrow services, as well as institutional custody. Institutional Banking includes UMB Fund Services, Inc., which provides fund administration and accounting, transfer agency services, and other services to mutual fund and alternative investment groups. Healthcare services provides healthcare payment solutions including custodial services for health savings accounts (HSAs) and private label, multipurpose debit cards to insurance carriers, third-party administrators, software companies, employers, and financial institutions. Personal Banking combines consumer banking and wealth management services offered to clients and delivered through personal relationships and the Company’s bank branches, ATM network and internet banking. Products offered include deposit accounts, retail credit cards, installment loans, home equity lines of credit, and residential mortgages. The range of client services extends from a basic checking account to estate planning and trust services and includes private banking, brokerage services, and insurance services in addition to a full spectrum of investment advisory, trust, and custody services. Business Segment Information Business Segment financial results for the three and six months ended June 30, 2023 and June 30, 2022 were as follows (in thousands): Three Months Ended June 30, 2023 Commercial Banking Institutional Banking Personal Banking Total Net interest income $ 144,389 $ 50,397 $ 30,825 $ 225,611 Provision for credit losses 11,055 234 1,711 13,000 Noninterest income 25,666 86,813 25,603 138,082 Noninterest expense 85,896 91,591 63,186 240,673 Income (loss) before taxes 73,104 45,385 ( 8,469 ) 110,020 Income tax expense (benefit) 13,230 8,213 ( 1,533 ) 19,910 Net income (loss) $ 59,874 $ 37,172 $ ( 6,936 ) $ 90,110 Average assets $ 20,888,000 $ 12,756,000 $ 6,721,000 $ 40,365,000 Three Months Ended June 30, 2022 Commercial Banking Institutional Banking Personal Banking Total Net interest income $ 149,094 $ 34,981 $ 40,716 $ 224,791 Provision for credit losses 12,067 89 1,244 13,400 Noninterest income 56,894 81,082 38,359 176,335 Noninterest expense 79,521 76,511 58,095 214,127 Income before taxes 114,400 39,463 19,736 173,599 Income tax expense 23,752 8,193 4,098 36,043 Net income $ 90,648 $ 31,270 $ 15,638 $ 137,556 Average assets $ 16,829,000 $ 13,577,000 $ 7,157,000 $ 37,563,000 Six Months Ended June 30, 2023 Commercial Banking Institutional Banking Personal Banking Total Net interest income $ 295,416 $ 105,482 $ 66,409 $ 467,307 Provision for credit losses 32,099 331 3,820 36,250 Noninterest income 48,568 171,051 48,663 268,282 Noninterest expense 169,900 180,962 126,863 477,725 Income (loss) before taxes 141,985 95,240 ( 15,611 ) 221,614 Income tax expense (benefit) 25,030 16,789 ( 2,752 ) 39,067 Net income (loss) $ 116,955 $ 78,451 $ ( 12,859 ) $ 182,547 Average assets $ 20,209,000 $ 12,603,000 $ 6,631,000 $ 39,443,000 Six Months Ended June 30, 2022 Commercial Banking Institutional Banking Personal Banking Total Net interest income $ 294,096 $ 61,233 $ 79,817 $ 435,146 Provision for credit losses 5,027 240 1,633 6,900 Noninterest income 83,594 154,354 62,065 300,013 Noninterest expense 159,110 152,112 117,683 428,905 Income before taxes 213,553 63,235 22,566 299,354 Income tax expense 39,831 11,795 4,209 55,835 Net income $ 173,722 $ 51,440 $ 18,357 $ 243,519 Average assets $ 16,824,000 $ 14,125,000 $ 7,404,000 $ 38,353,000 |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jun. 30, 2023 | |
Revenue From Contract With Customer [Abstract] | |
Revenue Recognition | 9. Revenue Recognition The following is a description of the principal activities from which the Company generates revenue that are within the scope of ASC Topic 606, Revenue from Contracts with Customers : Trust and securities processing – Trust and securities processing income consists of fees earned on personal and corporate trust accounts, custody of securities services, trust investments and wealth management services, and mutual fund and alternative asset servicing. The performance obligations related to this revenue include items such as performing full bond trustee service administration, investment advisory services, custody and record-keeping services, and fund administrative and accounting services. These fees are part of long-term contractual agreements and the performance obligations are satisfied upon completion of service and fees are generally a fixed flat monthly rate or based on a percentage of the account’s market value per the contract with the customer. These fees are primarily recorded within the Company’s Institutional and Personal Banking segments. Trading and investment banking – Trading and investment banking income consists of income earned related to the Company’s trading securities portfolio, including futures hedging, dividends, bond underwriting, and other securities incomes. The vast majority of this revenue is recognized in accordance with ASC 320, Debt and Equity Securities , and is out of the scope of ASC 606. A portion of trading and investment banking represents fees earned for management fees, commissions, and underwriting of corporate bond issuances. The performance obligations related to these fees include reviewing the credit worthiness of the customer, ensuring appropriate regulatory approval and participating in due diligence. The fees are fixed per the bond prospectus and the performance obligations are satisfied upon registration approval of the bonds by the applicable regulatory agencies. Revenue is recognized at the point in time upon completion of service and when approval is granted by the regulators. Service charges on deposits – Service charges on deposit accounts represent monthly analysis fees recognized for the services related to customer deposit accounts, including account maintenance and depository transactions processing fees. Commercial Banking and Institutional Banking depository accounts charge fees in accordance with the customer’s pricing schedule while Personal Banking account holders are generally charged a flat service fee per month. Deposit service charges for the healthcare accounts included in the Institutional Banking segment are priced according to either standard pricing schedules with individual account holders or according to service agreements between the Company and employer groups or third-party administrators. The Company satisfies the performance obligation related to providing depository accounts monthly as transactions are processed and deposit service charge revenue is recorded monthly. These fees are recognized within all Business Segments. Insurance fees and commissions – Insurance fees and commissions includes all insurance-related fees earned, including commissions for individual life, variable life, group life, health, group health, fixed annuity, and variable annuity insurance contracts. The performance obligations related to these revenues primarily represent the placement of insurance policies with the insurance company partners. The fees are based on the contracts with insurance company partners and the performance obligations are satisfied when the terms of the policy have been agreed to and the insurance policy becomes effective. Brokerage fees – Brokerage fees represent income earned related to providing brokerage transaction services, including commissions on equity and commodity trades, and fees for investment management, advisory and administration. The performance obligations related to transaction services are executing the specified trade and are priced according to the customer’s fee schedule. Such income is recognized at a point in time as the trade occurs and the performance obligation is fulfilled. The performance obligations related to investment management, advisory and administration include allocating customer assets across a wide range of mutual funds and other investments, on-going account monitoring and re-balancing of the portfolio. These performance obligations are satisfied over time and the related revenue is calculated monthly based on the assets under management of each customer. All material performance obligations are satisfied as of the end of each accounting period. Bankcard fees – Bankcard fees primarily represent income earned from interchange revenue from MasterCard and Visa for the Company’s processing of debit, credit, HSA, and flexible spending account transactions. Additionally, the Company earns income and incentives related to various referrals of customers to card programs. The performance obligation for interchange revenue is the processing of each transaction through the Company’s access to the banking system. This performance obligation is completed for each individual transaction and income is recognized per transaction in accordance with interchange rates established by MasterCard and Visa. The performance obligations for various referral and incentive programs include either referring customers to certain card products or issuing exclusively branded cards for certain customer segments. The pricing of these incentive and referral programs are in accordance with the agreement with the individual card partner. These performance obligations are completed as the referrals are made or over a period of time when the Company is exclusively issuing branded cards. For the three months ended June 30, 2023 and June 30, 2022, the Company had $ 10.7 million and $ 9.6 million of expense, respectively, recorded within the Bankcard fees line on the Company’s Consolidated Income Statements related to rebates and rewards programs that are outside of the scope of ASC 606. For the six months ended June 30, 2023 and June 30, 2022, the Company had $ 20.7 million and $ 17.7 million of expense, respectively, related to these rebates and rewards programs. All material performance obligations are satisfied as of the end of each accounting period. Investment securities gains, net – In the regular course of business, the Company recognizes gains and losses on the sale of available-for-sale securities. Additionally, the Company recognizes gains and losses on equity securities with readily determinable fair values and equity securities without readily determinable fair values. These gains and losses are recognized in accordance with ASC 321, Equity Securities , and are outside of the scope of ASC 606. Other income – The Company recognizes other miscellaneous income through a variety of other revenue streams, the most material of which include letter of credit fees, certain loan origination fees, gains on the sale of assets, derivative income, and bank-owned and company-owned life insurance income. These revenue streams are outside of the scope of ASC 606 and are recognized in accordance with the applicable U.S. GAAP. The remainder of Other income is primarily earned through transactions with personal banking customers, including wire transfer service charges, stop payment charges, and fees for items like money orders and cashier’s checks. The performance obligations of these types of fees are satisfied as transactions are completed and revenue is recognized upon transaction execution according to established fee schedules with the customers. The Company had no material contract assets, contract liabilities, or remaining performance obligations as of June 30, 2023. Total receivables from revenue recognized under the scope of ASC 606 were $ 82.5 million and $ 76.1 million as of June 30, 2023 and December 31, 2022, respectively. These receivables are included as part of the Other assets line on the Company’s Consolidated Balance Sheets. The following table depicts the disaggregation of noninterest income according to revenue stream and Business Segment for the three and six months ended June 30, 2023 and June 30, 2022. As stated in Note 8, “Business Segment Reporting,” for comparability purposes, amounts in all periods are based on methodologies in effect at June 30, 2023 and previously reported results have been reclassified in this Form 10-Q to conform to the Company’s current organizational structure. Disaggregated revenue is as follows (in thousands): Three Months Ended June 30, 2023 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Revenue (Expense) out of Scope of ASC 606 Total Trust and securities processing $ — $ 48,413 $ 13,176 $ — $ 61,589 Trading and investment banking — 155 — 4,645 4,800 Service charges on deposit accounts 9,778 10,159 1,420 24 21,381 Insurance fees and commissions — — 225 — 225 Brokerage fees 65 11,687 1,852 — 13,604 Bankcard fees 16,868 6,662 5,698 ( 10,649 ) 18,579 Investment securities gains, net — — — 900 900 Other 165 520 612 15,707 17,004 Total Noninterest income $ 26,876 $ 77,596 $ 22,983 $ 10,627 $ 138,082 Three Months Ended June 30, 2022 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Revenue (Expense) out of Scope of ASC 606 Total Trust and securities processing $ — $ 45,355 $ 13,531 $ — $ 58,886 Trading and investment banking — 60 — 7,063 7,123 Service charges on deposit accounts 8,696 10,250 1,839 50 20,835 Insurance fees and commissions — — 245 — 245 Brokerage fees 75 10,350 1,966 — 12,391 Bankcard fees 15,757 5,553 5,913 ( 9,383 ) 17,840 Investment securities gains, net — — — 60,720 60,720 Other 232 479 694 ( 3,110 ) ( 1,705 ) Total Noninterest income $ 24,760 $ 72,047 $ 24,188 $ 55,340 $ 176,335 Six Months Ended June 30, 2023 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Revenue (Expense) out of Scope of ASC 606 Total Trust and securities processing $ — $ 97,592 $ 26,356 $ — $ 123,948 Trading and investment banking — 313 — 9,795 10,108 Service charges on deposit accounts 18,305 20,898 3,295 42 42,540 Insurance fees and commissions — — 499 — 499 Brokerage fees 128 23,482 3,670 — 27,280 Bankcard fees 32,500 13,340 11,292 ( 20,381 ) 36,751 Investment securities losses, net — — — ( 4,424 ) ( 4,424 ) Other 390 978 1,318 28,894 31,580 Total Noninterest income $ 51,323 $ 156,603 $ 46,430 $ 13,926 $ 268,282 Six Months Ended June 30, 2022 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Revenue (Expense) out of Scope of ASC 606 Total Trust and securities processing $ — $ 90,840 $ 27,574 $ — $ 118,414 Trading and investment banking — 216 — 12,347 12,563 Service charges on deposit accounts 17,641 24,140 3,576 120 45,477 Insurance fees and commissions — — 504 — 504 Brokerage fees 108 11,834 3,905 — 15,847 Bankcard fees 29,731 10,884 11,132 ( 17,272 ) 34,475 Investment securities gains, net — — — 60,198 60,198 Other 396 903 1,379 9,857 12,535 Total Noninterest income $ 47,876 $ 138,817 $ 48,070 $ 65,250 $ 300,013 |
Commitments, Contingencies and
Commitments, Contingencies and Guarantees | 6 Months Ended |
Jun. 30, 2023 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Guarantees | 10. Commitments, Contingencies and Guarantees In the normal course of business, the Company is party to financial instruments with off-balance-sheet risk in order to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit, commercial letters of credit, standby letters of credit, forward foreign exchange contracts and spot foreign exchange contracts. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the Consolidated Balance Sheets. The contractual or notional amount of those instruments reflects the extent of involvement the Company has in particular classes of financial instruments. Many of the commitments expire without being drawn upon; therefore, the total amount of these commitments does not necessarily represent the future cash requirements of the Company. The Company’s exposure to credit loss in the event of nonperformance by the counterparty to the financial instruments for commitments to extend credit, commercial letters of credit, and standby letters of credit is represented by the contract or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The following table summarizes the Company’s off-balance sheet financial instruments (in thousands): Contract or Notional Amount June 30, December 31, 2023 2022 Commitments to extend credit for loans (excluding credit card loans) $ 12,700,354 $ 12,988,231 Commitments to extend credit under credit card loans 4,578,484 4,008,386 Commercial letters of credit 3,230 3,334 Standby letters of credit 437,733 436,965 Forward contracts 13,674 32,552 Spot foreign exchange contracts 15,009 5,112 Allowance for Credit Losses on Off-Balance Sheet Credit Exposures The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancelable by the Company. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The estimate is based on expected utilization rates by portfolio segment. Utilization rates are influenced by historical trends and current conditions. The expected utilization rates are applied to the total commitment to determine the expected amount to be funded. The allowance for off-balance sheet credit exposure is calculated by applying portfolio segment expected credit loss rates to the expected amount to be funded. The following categories of off-balance sheet credit exposures have been identified: Revolving Lines of Credit: includes commercial, construction, agriculture, personal, and home-equity. Risks inherent to revolving lines of credit often are related to the susceptibility of an individual or business experiencing unpredictable cash flow or financial troubles, thus leading to payment default. During these financial troubles, the borrower could have less than desirable assets collateralizing the revolving line of credit. The financial strain the borrower is experiencing could lead to drawing against the line without the ability to pay the line down. Non-Revolving Lines of Credit: includes commercial and personal. Lines that do not carry a revolving feature are generally associated with a specific expenditure or project, such as to purchase equipment or the construction of real estate. The predominate risk associated with non-revolving lines is the diversion of funds for other expenditures. If funds get diverted, the contributory value to collateral suffers. Letters of Credit: includes standby letters of credit. Generally, a standby letter of credit is established to provide assurance to the beneficiary that the applicant will perform certain obligations arising out of a separate transaction between the beneficiary and applicant. These obligations might be the performance of a service or delivery of a product. If the obligations are not met, it gives the beneficiary, the right to draw on the letter of credit. The ACL for off-balance sheet credit exposures was $ 4.1 million and $ 3.1 million at June 30, 2023 and December 31, 2022, respectively, and was recorded in the Accrued expenses and taxes line of the Company’s Consolidated Balance Sheets. For the three and six months ended June 30, 2023, provision of $ 1.0 million was recorded for off-balance sheet credit exposures. There was no provision for off-balance sheet credit exposures recorded for the three months ended June 30, 2022. For the six months ended June 30, 2022, provision of $ 0.5 million was recorded for off-balance sheet exposures. Provision for off-balance sheet credit exposure is recorded in the Provision for credit losses line of the Company’s Consolidated Statements of Income. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2023 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | 11. Derivatives and Hedging Activities Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s loans and borrowings. The Company also has interest rate derivatives that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk of the Company’s assets or liabilities. The Company has entered into an offsetting position for each of these derivative instruments with a matching instrument from another financial institution in order to minimize its net risk exposure resulting from such transactions. Fair Values of Derivative Instruments on the Consolidated Balance Sheets The table below presents the fair value of the Company’s derivative financial instruments as of June 30, 2023 and December 31, 2022. The Company’s derivative assets and derivative liabilities are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheets. Derivative fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows from each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of June 30, 2023 and December 31, 2022 ( in thousands ): Derivative Assets Derivative Liabilities June 30, December 31, June 30, December 31, Fair Value 2023 2022 2023 2022 Interest Rate Products: Derivatives not designated as hedging instruments $ 112,237 $ 47,638 $ 118,471 $ 126,231 Derivatives designated as hedging instruments 4 483 91 103 Total $ 112,241 $ 48,121 $ 118,562 $ 126,334 Fair Value Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its fixed-rate assets and liabilities due to changes in interest rates. Interest rate swaps designated as fair value hedges involve making fixed rate payments to a counterparty in exchange for the Company receiving variable rate payments over the life of the agreements without the exchange of the underlying notional amount. As of June 30, 2023, the Company had one interest rate swap that was designated as a fair value hedge of interest rate risk associated with the Company’s municipal bond securities. This swap had a notional amount of $ 28.1 million as of June 30, 2023. As of December 31, 2022, the Company had three interest rate swaps that were designated as fair value hedges of interest rate risk associated with the Company’s municipal bond securities with an aggregate notional amount of $ 254.6 million. During the six months ended June 30, 2023, the Company terminated two fair value hedges. In connection with these terminated hedges, $ 9.4 million of hedging adjustments will be amortized through the contractual maturity date of each respective hedged item. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in Interest income in the Consolidated Statements of Income. Cash Flow Hedges of Interest Rate Risk The Company’s objective in using interest rate derivatives is to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and floors as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of June 30, 2023 and December 31, 2022, the Company had two interest rate swaps that were designated as cash flow hedges of interest rate risk associated with the Company’s variable-rate subordinated debentures issued by Marquette Capital Trusts III and IV. These swaps had an aggregate notional amount of $ 51.5 million at both June 30, 2023 and December 31, 2022. Interest rate floors designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates fall below the strike rate on the contract in exchange for an upfront premium. On August 28, 2020 , the Company terminated an interest rate floor with a notional amount of $ 750.0 million. At the date of termination, the interest rate floor had a net asset fair value of $ 34.1 million. The gross unrealized gain on the terminated interest rate floor remaining in AOCI was $ 4.9 million, or $ 3.7 million net of tax, and $ 7.4 million, or $ 5.6 million net of tax, as of June 30, 2023 and December 31, 2022, respectively. The unrealized gain will be reclassified into Interest income as the underlying forecasted transactions impact earnings through the original maturity of the hedged forecasted transactions. The total remaining term over which the unrealized gain will be reclassified into earnings is 1.2 years. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in AOCI and is subsequently reclassified into interest expense and interest income in the period during which the hedged forecasted transaction affects earnings. Amounts reported in AOCI related to interest rate swap derivatives will be reclassified to Interest expense as interest payments are received or paid on the Company’s hedged items. Amounts reported in AOCI related to interest rate floor derivatives will be reclassified to Interest income as interest payments are received or paid on the Company’s items. The Company expects to reclassify $ 1.4 million from AOCI as a reduction to Interest expense and $ 4.3 million from AOCI to Interest income during the next 12 months. As of June 30, 2023, the Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of 13.2 years. Non-designated Hedges The remainder of the Company’s derivatives are not designated in qualifying hedging relationships. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously offset by interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. The changes in the fair value of both the customer swaps and the offsetting swaps are recognized in Other noninterest expense in the Consolidated Statements of Income. As of June 30, 2023, the Company had 248 interest rate swaps with an aggregate notional amount of $ 3.9 billion related to this program. As of December 31, 2022, the Company had 230 interest rate swaps with an aggregate notional amount of $ 3.5 billion. Effect of Derivative Instruments on the Consolidated Statements of Income and Accumulated Other Comprehensive Income This table provides a summary of the amount of gain or loss recognized in Interest income and Other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2023 and June 30, 2022 (in thousands) : Amount of Gain (Loss) Recognized For the Three Months Ended For the Six Months Ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 Interest Rate Products Derivatives not designated as hedging instruments $ 51 $ 191 $ ( 22 ) $ 374 Total $ 51 $ 191 $ ( 22 ) $ 374 Interest Rate Products Derivatives designated as hedging instruments: Fair value adjustments on derivatives $ 656 $ 16,035 $ 849 $ 52,711 Fair value adjustments on hedged items ( 657 ) ( 16,106 ) ( 847 ) ( 52,164 ) Total $ ( 1 ) $ ( 71 ) $ 2 $ 547 These tables provide a summary of the effect of hedges on AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2023 and June 30, 2022 (in thousands) : For the Three Months Ended June 30, 2023 Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative Gain Recognized in OCI Included Component Gain Recognized in OCI Excluded Component Gain Reclassified from AOCI into Earnings Gain Reclassified from AOCI into Earnings Included Component Loss Reclassified from AOCI into Earnings Excluded Component Interest rate floor $ — $ — $ — $ 1,205 $ 1,766 $ ( 561 ) Interest rate swaps 1,848 1,848 — 296 296 — Total $ 1,848 $ 1,848 $ — $ 1,501 $ 2,062 $ ( 561 ) For the Three Months Ended June 30, 2022 Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative Gain Recognized in OCI Included Component Gain Recognized in OCI Excluded Component Gain (Loss) Reclassified from AOCI into Earnings Gain (Loss) Reclassified from AOCI into Earnings Included Component Loss Reclassified from AOCI into Earnings Excluded Component Interest rate floor $ — $ — $ — $ 1,250 $ 1,811 $ ( 561 ) Interest rate swaps 4,437 4,437 — ( 224 ) ( 224 ) — Total $ 4,437 $ 4,437 $ — $ 1,026 $ 1,587 $ ( 561 ) For the Six Months Ended June 30, 2023 Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative Gain Recognized in OCI Included Component Gain Recognized in OCI Excluded Component Gain Reclassified from AOCI into Earnings Gain Reclassified from AOCI into Earnings Included Component Loss Reclassified from AOCI into Earnings Excluded Component Interest rate floor $ — $ — $ — $ 2,436 $ 3,552 $ ( 1,116 ) Interest rate swaps 321 321 — 560 560 — Total $ 321 $ 321 $ — $ 2,996 $ 4,112 $ ( 1,116 ) For the Six Months Ended June 30, 2022 Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative Gain Recognized in OCI Included Component Gain Recognized in OCI Excluded Component Gain (Loss) Reclassified from AOCI into Earnings Gain (Loss) Reclassified from AOCI into Earnings Included Component Loss Reclassified from AOCI into Earnings Excluded Component Interest rate floor $ — $ — $ — $ 2,413 $ 3,529 $ ( 1,116 ) Interest rate swaps 9,117 9,117 — ( 536 ) ( 536 ) — Total $ 9,117 $ 9,117 $ — $ 1,877 $ 2,993 $ ( 1,116 ) Credit-risk-related Contingent Features The Company has agreements with certain of its derivative counterparties that contain a provision that if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company has minimum collateral posting thresholds with certain of its derivative counterparties. At June 30, 2023, the Company had no t posted any collateral as there were no derivatives in a net liability position. If the Company had breached any of these provisions at June 30, 2023, it could have been required to settle its obligations under the agreements at the termination value. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 12. Fair Value Measurements The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2023, and December 31, 2022, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets and liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the hierarchy. In such cases, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 (in thousands): Fair Value Measurement at June 30, 2023 Description June 30, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 584 $ 584 $ — $ — U.S. Agencies 11,129 — 11,129 — State and political subdivisions 16,939 — 16,939 — Corporates 156 156 — — Trading – other 79 79 — — Trading securities 28,887 819 28,068 — U.S. Treasury 787,824 787,824 — — U.S. Agencies 172,301 — 172,301 — Mortgage-backed 3,712,820 — 3,712,820 — State and political subdivisions 1,303,695 — 1,303,695 — Corporates 342,656 342,656 — — Collateralized loan obligations 349,319 — 349,319 — Available-for-sale securities 6,668,615 1,130,480 5,538,135 — Equity securities with readily determinable fair values 10,925 10,925 — — Company-owned life insurance 63,837 — 63,837 — Bank-owned life insurance 516,816 — 516,816 — Derivatives 112,241 — 112,241 — Total $ 7,401,321 $ 1,142,224 $ 6,259,097 $ — Liabilities Derivatives $ 118,562 $ — $ 118,562 $ — Securities sold not yet purchased 7,229 — 7,229 — Total $ 125,791 $ — $ 125,791 $ — Fair Value Measurement at December 31, 2022 Description December 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 580 $ 580 $ — $ — U.S. Agencies 7,558 — 7,558 — State and political subdivisions 8,038 — 8,038 — Corporates 1,024 1,024 — — Trading – other 780 780 — — Trading securities 17,980 2,384 15,596 — U.S. Treasury 777,070 777,070 — — U.S. Agencies 171,296 — 171,296 — Mortgage-backed 3,982,122 — 3,982,122 — State and political subdivisions 1,362,407 — 1,362,407 — Corporates 367,500 367,500 — — Collateralized loan obligations 345,952 — 345,952 — Available for sale securities 7,006,347 1,144,570 5,861,777 — Equity securities with readily determinable fair values 10,782 10,782 — — Company-owned life insurance 56,769 — 56,769 — Bank-owned life insurance 510,293 — 510,293 — Derivatives 48,121 — 48,121 — Total $ 7,650,292 $ 1,157,736 $ 6,492,556 $ — Liabilities Derivatives $ 126,334 $ — $ 126,334 $ — Securities sold not yet purchased 3,503 — 3,503 — Total $ 129,837 $ — $ 129,837 $ — Valuation methods for instruments measured at fair value on a recurring basis The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a recurring basis: Trading Securities Fair values for trading securities (including financial futures), are based on quoted market prices where available. If quoted market prices are not available, fair values are based on quoted market prices for similar securities. Available-for-Sale Securities Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Prices are provided by third-party pricing services and are based on observable market inputs. On an annual basis, the Company compares a sample of these prices to other independent sources for the same securities. Additionally, throughout the year, if securities are sold, comparisons are made between the pricing services prices and the market prices at which the securities were sold. Variances are analyzed, and, if appropriate, additional research is conducted with the third-party pricing services. Based on this research, the pricing services may affirm or revise their quoted price. No significant adjustments have been made to the prices provided by the pricing services. The pricing services also provide documentation on an ongoing basis that includes reference data, inputs and methodology by asset class, which is reviewed to ensure that security placement within the fair value hierarchy is appropriate. Equity securities with readily determinable fair values Fair values are based on quoted market prices. Company-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies. Bank-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies. Derivatives Fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows from each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Securities sold not yet purchased Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Prices are provided by third-party pricing services and are based on observable market inputs. Assets measured at fair value on a non-recurring basis as of June 30, 2023 and December 31, 2022 (in thousands): Fair Value Measurement at June 30, 2023 Using Description June 30, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Losses Recognized During the Six Months Ended June 30 Collateral dependent assets $ 4,510 $ — $ — $ 4,510 $ ( 3,403 ) Other real estate owned — — — — — Total $ 4,510 $ — $ — $ 4,510 $ ( 3,403 ) Fair Value Measurement at December 31, 2022 Using Description December 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Losses Recognized During the Twelve Months Ended December 31 Collateral dependent assets $ 4,373 $ — $ — $ 4,373 $ ( 2,998 ) Other real estate owned 68 — — 68 — Total $ 4,441 $ — $ — $ 4,441 $ ( 2,998 ) Valuation methods for instruments measured at fair value on a non-recurring basis The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a non-recurring basis: Collateral Dependent Assets Collateral dependent assets are assets evaluated as part of the ACL on an individual basis. Those assets for which there is an associated allowance are considered financial assets measured at fair value on a non-recurring basis. Adjustments are recorded on certain assets to reflect write-downs that are based on the external appraised value of the underlying collateral. The external appraisals are generally based on recent sales of comparable properties which are then adjusted for the unique characteristics of the property being valued. In the case of non-real estate collateral, reliance is placed on a variety of sources, including external estimates of value and judgments based on the experience and expertise of internal specialists within the Company’s property management group and the Company’s credit department. The valuations of the collateral dependent assets are reviewed on a quarterly basis. Because many of these inputs are not observable, the measurements are classified as Level 3. Other real estate owned Other real estate owned consists of loan collateral which has been repossessed through foreclosure. This collateral is comprised of commercial and residential real estate and other non-real estate property, including auto, recreational and marine vehicles. Other real estate owned is recorded as held for sale initially at the fair value of the collateral less estimated selling costs. The initial valuation of the foreclosed property is obtained through an appraisal process similar to the process described in the impaired loans paragraph above. Subsequent to foreclosure, valuations are reviewed quarterly and updated periodically, and the assets may be marked down further, reflecting a new cost basis. Fair value measurements may be based upon appraisals, third-party price opinions, or internally developed pricing methods and those measurements are classified as Level 3. Fair value disclosures require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The estimated fair value of the Company’s financial instruments at June 30, 2023 and December 31, 2022 are as follows (in thousands): Fair Value Measurement at June 30, 2023 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Total FINANCIAL ASSETS Cash and short-term investments $ 4,121,276 $ 3,811,438 $ 309,838 $ — $ 4,121,276 Securities available for sale 6,668,615 1,130,480 5,538,135 — 6,668,615 Securities held to maturity (exclusive of allowance for credit losses) 5,810,591 — 5,234,236 — 5,234,236 Trading securities 28,887 819 28,068 — 28,887 Other securities 428,149 10,925 417,224 — 428,149 Loans (exclusive of allowance for credit losses) 22,487,361 — 22,295,499 — 22,295,499 Derivatives 112,241 — 112,241 — 112,241 FINANCIAL LIABILITIES Demand and savings deposits 30,326,969 30,326,969 — — 30,326,969 Time deposits 3,193,492 — 3,200,832 — 3,200,832 Other borrowings 3,850,583 73,981 3,776,602 — 3,850,583 Long-term debt 382,280 — 415,254 — 415,254 Derivatives 118,562 — 118,562 — 118,562 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 5,429 Commercial letters of credit 54 Standby letters of credit 2,185 Fair Value Measurement at December 31, 2022 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Total FINANCIAL ASSETS Cash and short-term investments $ 2,638,384 $ 1,686,787 $ 951,597 $ — $ 2,638,384 Securities available for sale 7,006,347 1,144,570 5,861,777 — 7,006,347 Securities held to maturity (exclusive of allowance for credit losses) 5,861,599 — 5,280,659 — 5,280,659 Trading securities 17,980 2,384 15,596 — 17,980 Other securities 349,758 10,782 338,976 — 349,758 Loans (exclusive of allowance for credit losses) 21,033,167 — 20,816,899 — 20,816,899 Derivatives 48,121 — 48,121 — 48,121 FINANCIAL LIABILITIES Demand and savings deposits 31,721,995 31,721,995 — — 31,721,995 Time deposits 917,138 — 917,138 — 917,138 Other borrowings 2,222,167 62,480 2,159,687 — 2,222,167 Long-term debt 381,311 — 418,737 — 418,737 Derivatives 126,334 — 126,334 — 126,334 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 9,260 Commercial letters of credit 185 Standby letters of credit 3,982 Cash and short-term investments The carrying amounts of cash and due from banks, federal funds sold and resell agreements are reasonable estimates of their fair values. Securities held to maturity For U.S. Agency and mortgage-backed securities, as well as general obligation bonds in the State and political subdivision portfolio, fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Prices are provided by third-party pricing services and are based on observable market inputs. On an annual basis, the Company compares a sample of these prices to other independent sources for the same securities. Variances are analyzed, and, if appropriate, additional research is conducted with the third-party pricing services. Based on this research, the pricing services may affirm or revise their quoted price. No significant adjustments have been made to the prices provided by the pricing services. The pricing services also provide documentation on an ongoing basis that includes reference data, inputs and methodology by asset class, which is reviewed to ensure that security placement within the fair value hierarchy is appropriate. For private placement bonds in the State and political subdivision portfolio, fair values are estimated by discounting the future cash flows using current market rates. Other securities Amount consists of FRB and FHLB stock held by the Company, equity securities with readily determinable fair values, and equity securities without readily determinable fair values, including equity-method investments and other miscellaneous investments. The carrying amount of the FRB and FHLB stock equals its fair value because the shares can only be redeemed by the FRB and FHLB at their carrying amount. Equity securities with readily determinable fair values are measured at fair value using quoted market prices. Equity securities without readily determinable fair values are carried at cost, which approximates fair value. Loans Fair values are estimated for portfolios with similar financial characteristics. Loans are segregated by type, such as commercial, real estate, consumer, and credit card. Each loan category is further segmented into fixed and variable interest rate categories. The fair value of loans are estimated by discounting the future cash flows. The discount rates used are estimated using comparable market rates for similar types of instruments adjusted to be commensurate with the credit risk, overhead costs, and optionality of such instruments. Demand and savings deposits The fair value of demand deposits and savings accounts is the amount payable on demand at June 30, 2023 and December 31, 2022. Time deposits The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates that are currently offered for deposits of similar remaining maturities. Other borrowings The carrying amounts of federal funds purchased, repurchase agreements and other short-term debt are reasonable estimates of their fair value because of the short-term nature of their maturities. Federal funds purchased are classified as Level 1 based on availability of quoted market prices and repurchase agreements and other short-term debt are classified as Level 2. Long-term debt Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate fair value of existing debt. Other off-balance sheet instruments The fair value of loan commitments and letters of credit are determined based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreement and the present creditworthiness of the counterparties. Neither the fees earned during the year on these instruments nor their fair value at period-end are significant to the Company’s consolidated financial position. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Nature Of Operations | The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is provided in the Notes to Consolidated Financial Statements in the Form 10-K. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents includes Cash and due from banks and amounts due from the Federal Reserve Bank (FRB). Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the FRB are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets. This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of June 30, 2023 and June 30, 2022 (in thousands) : June 30, 2023 2022 Due from the FRB $ 3,308,089 $ 1,756,245 Cash and due from banks 431,527 360,242 Cash and cash equivalents at end of period $ 3,739,616 $ 2,116,487 Also included in the Interest-bearing due from banks, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $ 61.0 million and $ 63.9 million at June 30, 2023 and June 30, 2022, respectively. |
Per Share Data | Per Share Data Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 154,136 and 326,738 shares issuable upon the exercise of stock options and nonvested restricted stock units granted by the Company and outstanding at June 30, 2023 and 2022, respectively. Diluted year-to-date net income per share includes the dilutive effect of 232,622 and 378,191 shares issuable upon the exercise of stock options and nonvested restricted stock units granted by the Company and outstanding at June 30, 2023 and 2022, respectively. Certain options and restricted stock units issued under employee benefits plans were excluded from the computation of diluted earnings per share because they were anti-dilutive. Outstanding stock options and restricted stock units of 266,768 and 215,902 for the three months ended June 30, 2023 and the six months ended June 30, 2023, respectively, were excluded from the computation of diluted income per share because their inclusion would have been anti-dilutive. For the three and six months ended June 30, 2022, there were no outstanding stock options or restricted stock units excluded from the computation of diluted income per share. |
Derivatives | Derivatives The Company records all derivatives on the Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Currently, three of the Company’s derivatives are designated in qualifying hedging relationships. However, the remainder of the Company’s derivatives are not designated in qualifying hedging relationships, as the derivatives are not used to manage risks within the Company’s assets or liabilities. All changes in fair value of the Company’s non-designated derivatives and fair value hedges are recognized directly in earnings. Changes in fair value of the Company’s cash flow hedges are recognized in accumulated other comprehensive income (AOCI) and are reclassified to earnings when the hedged transaction affects earnings. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Summary of Cash and Cash Equivalents | This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of June 30, 2023 and June 30, 2022 (in thousands) : June 30, 2023 2022 Due from the FRB $ 3,308,089 $ 1,756,245 Cash and due from banks 431,527 360,242 Cash and cash equivalents at end of period $ 3,739,616 $ 2,116,487 |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Receivables [Abstract] | |
Summary of Loan Classes and Aging of Past Due Loans | This table provides a summary of loan classes and an aging of past due loans at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 30-89 Greater than Nonaccrual Total Current Total Loans Loans Commercial and industrial $ 4,257 $ 6,029 $ 11,412 $ 21,698 $ 9,879,649 $ 9,901,347 Specialty lending — — — — 561,216 561,216 Commercial real estate 980 1,887 2,367 5,234 8,262,983 8,268,217 Consumer real estate 154 — 5,146 5,300 2,913,126 2,918,426 Consumer 75 14 38 127 131,165 131,292 Credit cards 6,736 2,745 384 9,865 435,287 445,152 Leases and other — — — — 257,892 257,892 Total loans $ 12,202 $ 10,675 $ 19,347 $ 42,224 $ 22,441,318 $ 22,483,542 December 31, 2022 30-89 Greater than Nonaccrual Total Current Total Loans Loans Commercial and industrial $ 2,456 $ 2 $ 11,356 $ 13,814 $ 9,192,172 $ 9,205,986 Specialty lending — — — — 602,706 602,706 Commercial real estate 2,167 191 2,505 4,863 7,611,223 7,616,086 Consumer real estate 10 — 4,882 4,892 2,718,377 2,723,269 Consumer 613 20 61 694 144,972 145,666 Credit cards 3,529 1,404 441 5,374 426,298 431,672 Leases and other — — 24 24 305,780 305,804 Total loans $ 8,775 $ 1,617 $ 19,269 $ 29,661 $ 21,001,528 $ 21,031,189 |
Summary of Amortized Cost of Nonaccrual Loans with No Related Allowance | The following tables provide the amortized cost of nonaccrual loans with no related allowance for credit losses by loan class at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Nonaccrual Amortized Cost of Nonaccrual Loans with no related Allowance Loans Commercial and industrial $ 11,412 $ 10,781 Specialty lending — — Commercial real estate 2,367 509 Consumer real estate 5,146 5,146 Consumer 38 38 Credit cards 384 384 Leases and other — — Total loans $ 19,347 $ 16,858 December 31, 2022 Nonaccrual Amortized Cost of Nonaccrual Loans with no related Allowance Loans Commercial and industrial $ 11,356 $ 9,447 Specialty lending — — Commercial real estate 2,505 2,505 Consumer real estate 4,882 4,226 Consumer 61 61 Credit cards 441 441 Leases and other 24 24 Total loans $ 19,269 $ 16,704 |
Summary of Amortized Cost Balance of Each of Loan Classes Disaggregated by Collateral Type and Origination Year | The following tables provide a summary of the amortized cost balance of each of the Company’s loan classes disaggregated by collateral type and origination year as of June 30, 2023 and December 31, 2022, as well as the gross charge-offs by loan class and origination year for the six months ended June 30, 2023 (in thousands): June 30, 2023 Amortized Cost Basis by Origination Year - Term Loans Loan Segment 2023 2022 2021 2020 2019 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Commercial and industrial: Equipment/Accounts Receivable/Inventory $ 1,003,376 $ 1,928,647 $ 1,366,308 $ 571,225 $ 237,312 $ 136,948 $ 4,474,859 $ 19,977 $ 9,738,652 Agriculture 8,489 7,792 4,403 1,392 1,785 424 133,382 — 157,667 Overdrafts — — — — — — 5,028 — 5,028 Total Commercial and industrial 1,011,865 1,936,439 1,370,711 572,617 239,097 137,372 4,613,269 19,977 9,901,347 Current period charge-offs — — 383 — — 21 2,415 — 2,819 Specialty lending: Asset-based lending 14,750 17,686 35,766 39,233 — — 453,781 — 561,216 Total Specialty lending 14,750 17,686 35,766 39,233 — — 453,781 — 561,216 Current period charge-offs — — — — — — — — — Commercial real estate: Owner-occupied 208,503 662,949 520,440 352,935 166,053 242,445 6,290 — 2,159,615 Non-owner-occupied 359,552 996,559 835,238 545,178 306,423 233,759 31,346 — 3,308,055 Farmland 41,499 79,964 45,263 202,528 23,353 22,790 107,601 — 522,998 5+ Multi-family 1,391 27,712 35,926 32,428 18,484 6,042 5,862 — 127,845 1-4 Family construction 37,615 54,463 — — — — 1,837 — 93,915 General construction 133,015 1,004,391 842,091 4,303 689 139 71,161 — 2,055,789 Total Commercial real estate 781,575 2,826,038 2,278,958 1,137,372 515,002 505,175 224,097 — 8,268,217 Current period charge-offs — — — — — 21 — — 21 Consumer real estate: HELOC — 707 — 526 52 5,454 341,433 1,370 349,542 First lien: 1-4 family 278,992 602,615 729,894 578,067 165,771 177,351 16 63 2,532,769 Junior lien: 1-4 family 6,312 12,882 7,892 4,503 2,350 2,013 163 — 36,115 Total Consumer real estate 285,304 616,204 737,786 583,096 168,173 184,818 341,612 1,433 2,918,426 Current period charge-offs — 21 — — — 1,121 — — 1,142 Consumer: Revolving line — — — — — — 47,931 233 48,164 Auto 5,339 7,538 5,154 3,133 1,782 269 — — 23,215 Other 3,795 24,093 26,962 681 561 1,364 2,457 — 59,913 Total Consumer 9,134 31,631 32,116 3,814 2,343 1,633 50,388 233 131,292 Current period charge-offs 67 8 20 2 — 3 580 — 680 Credit cards: Consumer — — — — — — 200,986 — 200,986 Commercial — — — — — — 244,166 — 244,166 Total Credit cards — — — — — — 445,152 — 445,152 Current period charge-offs — — — — — — 3,670 — 3,670 Leases and other: Leases — — — — 712 1,190 — — 1,902 Other 24,057 101,609 18,152 18,114 32,202 14,366 47,490 — 255,990 Total Leases and other 24,057 101,609 18,152 18,114 32,914 15,556 47,490 — 257,892 Current period charge-offs — — — — — — — — — Total loans $ 2,126,685 $ 5,529,607 $ 4,473,489 $ 2,354,246 $ 957,529 $ 844,554 $ 6,175,789 $ 21,643 $ 22,483,542 December 31, 2022 Amortized Cost Basis by Origination Year - Term Loans Loan Segment 2022 2021 2020 2019 2018 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Commercial and industrial: Equipment/Accounts Receivable/Inventory $ 2,140,609 $ 1,562,527 $ 642,649 $ 267,444 $ 96,916 $ 86,787 $ 4,223,358 $ 3,926 $ 9,024,216 Agriculture 13,630 5,415 2,046 1,985 396 541 149,266 562 173,841 Overdrafts — — — — — — 7,929 — 7,929 Total Commercial and industrial 2,154,239 1,567,942 644,695 269,429 97,312 87,328 4,380,553 4,488 9,205,986 Specialty lending: Asset-based lending 18,084 55,469 36,040 — — — 493,113 — 602,706 Total Specialty lending 18,084 55,469 36,040 — — — 493,113 — 602,706 Commercial real estate: Owner-occupied 656,860 593,861 388,519 180,786 136,499 167,628 8,685 — 2,132,838 Non-owner-occupied 1,128,978 855,508 568,489 368,203 64,915 229,826 28,679 — 3,244,598 Farmland 94,989 47,092 220,796 24,057 15,963 24,162 121,054 — 548,113 5+ Multi-family 30,920 35,869 68,996 18,978 1,334 5,776 4,908 — 166,781 1-4 Family construction 61,943 15,217 — — — — 19 — 77,179 General construction 628,820 719,437 43,166 15,492 — 395 39,267 — 1,446,577 Total Commercial real estate 2,602,510 2,266,984 1,289,966 607,516 218,711 427,787 202,612 — 7,616,086 Consumer real estate: HELOC 237 — 618 224 654 5,389 339,066 981 347,169 First lien: 1-4 family 628,703 748,362 607,105 173,466 45,907 140,443 12 — 2,343,998 Junior lien: 1-4 family 13,490 8,445 5,107 2,529 940 1,504 87 — 32,102 Total Consumer real estate 642,430 756,807 612,830 176,219 47,501 147,336 339,165 981 2,723,269 Consumer: Revolving line 467 584 — — — — 58,133 1,403 60,587 Auto 9,124 6,543 4,455 2,743 335 159 — — 23,359 Other 26,306 27,751 1,096 876 1,133 591 3,967 — 61,720 Total Consumer 35,897 34,878 5,551 3,619 1,468 750 62,100 1,403 145,666 Credit cards: Consumer — — — — — — 200,348 — 200,348 Commercial — — — — — — 231,324 — 231,324 Total Credit cards — — — — — — 431,672 — 431,672 Leases and other: Leases — — — 712 — 1,224 — — 1,936 Other 125,095 34,282 22,552 32,055 17,764 1,066 71,054 — 303,868 Total Leases and other 125,095 34,282 22,552 32,767 17,764 2,290 71,054 — 305,804 Total loans $ 5,578,255 $ 4,716,362 $ 2,611,634 $ 1,089,550 $ 382,756 $ 665,491 $ 5,980,269 $ 6,872 $ 21,031,189 |
Summary of Amortized Cost Balance by Collateral Type and Risk Rating | The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2023 2022 2021 2020 2019 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Equipment/Accounts Receivable/Inventory Non-watch list – Pass $ 978,049 $ 1,828,379 $ 1,249,487 $ 524,956 $ 209,725 $ 129,140 $ 4,083,086 $ 19,300 $ 9,022,122 Watch – Pass 5,398 88,073 97,797 43,890 16,119 3,166 264,482 340 519,265 Special Mention 2,558 2,573 7,201 1,041 277 2,570 22,568 — 38,788 Substandard 14,053 9,622 11,323 1,338 11,191 2,072 103,152 337 153,088 Doubtful 3,318 — 500 — — — 1,571 — 5,389 Total Equipment/Accounts Receivable/Inventory $ 1,003,376 $ 1,928,647 $ 1,366,308 $ 571,225 $ 237,312 $ 136,948 $ 4,474,859 $ 19,977 $ 9,738,652 Agriculture Non-watch list – Pass $ 8,097 $ 6,514 $ 4,403 $ 1,251 $ 1,785 $ 424 $ 125,954 $ — $ 148,428 Watch – Pass — — — — — — 4,365 — 4,365 Special Mention — 728 — — — — 178 — 906 Substandard 392 550 — 141 — — 2,885 — 3,968 Doubtful — — — — — — — — — Total Agriculture $ 8,489 $ 7,792 $ 4,403 $ 1,392 $ 1,785 $ 424 $ 133,382 $ — $ 157,667 December 31, 2022 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2022 2021 2020 2019 2018 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Equipment/Accounts Receivable/Inventory Non-watch list – Pass $ 2,079,002 $ 1,466,120 $ 588,562 $ 246,387 $ 90,656 $ 83,054 $ 3,879,709 $ 3,633 $ 8,437,123 Watch – Pass 28,570 78,523 52,696 7,493 3,617 2,275 213,871 — 387,045 Special Mention 4,072 5,637 1,178 — 1,817 899 34,631 — 48,234 Substandard 26,698 12,247 213 13,564 826 559 92,352 293 146,752 Doubtful 2,267 — — — — — 2,795 — 5,062 Total Equipment/Accounts Receivable/Inventory $ 2,140,609 $ 1,562,527 $ 642,649 $ 267,444 $ 96,916 $ 86,787 $ 4,223,358 $ 3,926 $ 9,024,216 Agriculture Non-watch list – Pass $ 12,252 $ 5,351 $ 1,693 $ 1,985 $ 396 $ 541 $ 137,759 $ — $ 159,977 Watch – Pass 550 — 206 — — — 8,512 562 9,830 Special Mention 828 64 147 — — — 1,539 — 2,578 Substandard — — — — — — 1,456 — 1,456 Doubtful — — — — — — — — — Total Agriculture $ 13,630 $ 5,415 $ 2,046 $ 1,985 $ 396 $ 541 $ 149,266 $ 562 $ 173,841 The following table provides a summary of the amortized cost balance by risk rating for asset-based loans as of June 30, 2023 and December 31, 2022 (in thousands): Asset-based lending Risk June 30, 2023 December 31, 2022 In-margin $ 561,216 $ 602,706 Out-of-margin — — Total $ 561,216 $ 602,706 The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2023 2022 2021 2020 2019 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Owner-occupied Non-watch list – Pass $ 208,284 $ 637,473 $ 485,221 $ 333,625 $ 142,939 $ 228,307 $ 6,290 $ — $ 2,042,139 Watch – Pass 219 7,509 22,085 14,721 12,031 3,778 — — 60,343 Special Mention — 15,338 13,134 3,777 4,128 6,830 — — 43,207 Substandard — 2,629 — 812 6,955 3,530 — — 13,926 Doubtful — — — — — — — — — Total Owner-occupied $ 208,503 $ 662,949 $ 520,440 $ 352,935 $ 166,053 $ 242,445 $ 6,290 $ — $ 2,159,615 Non-owner-occupied Non-watch list – Pass $ 323,683 $ 879,026 $ 740,654 $ 545,178 $ 218,091 $ 223,825 $ 31,346 $ — $ 2,961,803 Watch – Pass 35,869 92,999 69,886 — 88,332 — — — 287,086 Special Mention — 24,534 24,698 — — — — — 49,232 Substandard — — — — — 9,934 — — 9,934 Doubtful — — — — — — — — — Total Non-owner-occupied $ 359,552 $ 996,559 $ 835,238 $ 545,178 $ 306,423 $ 233,759 $ 31,346 $ — $ 3,308,055 Farmland Non-watch list – Pass $ 29,654 $ 50,339 $ 35,084 $ 201,064 $ 17,004 $ 21,814 $ 99,613 $ — $ 454,572 Watch – Pass — 18,328 6,306 — — 437 714 — 25,785 Special Mention — 5,505 — 380 — 539 — — 6,424 Substandard 11,845 5,792 3,873 1,084 6,349 — 7,274 — 36,217 Doubtful — — — — — — — — — Total Farmland $ 41,499 $ 79,964 $ 45,263 $ 202,528 $ 23,353 $ 22,790 $ 107,601 $ — $ 522,998 5+ Multi-family Non-watch list – Pass $ 1,391 $ 27,712 $ 35,926 $ 32,428 $ 18,484 $ 6,042 $ 5,862 $ — $ 127,845 Watch – Pass — — — — — — — — — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 5+ Multi-family $ 1,391 $ 27,712 $ 35,926 $ 32,428 $ 18,484 $ 6,042 $ 5,862 $ — $ 127,845 1-4 Family construction Non-watch list – Pass $ 37,615 $ 54,463 $ — $ — $ — $ — $ 1,837 $ — $ 93,915 Watch – Pass — — — — — — — — — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 1-4 Family construction $ 37,615 $ 54,463 $ — $ — $ — $ — $ 1,837 $ — $ 93,915 General construction Non-watch list – Pass $ 125,896 $ 1,004,391 $ 787,487 $ 4,303 $ 672 $ 125 $ 71,161 $ — $ 1,994,035 Watch – Pass 742 — 46,506 — 17 — — — 47,265 Special Mention 6,294 — — — — — — — 6,294 Substandard — — 8,098 — — 14 — — 8,112 Doubtful 83 — — — — — — — 83 Total General construction $ 133,015 $ 1,004,391 $ 842,091 $ 4,303 $ 689 $ 139 $ 71,161 $ — $ 2,055,789 December 31, 2022 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2022 2021 2020 2019 2018 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Owner-occupied Non-watch list – Pass $ 628,858 $ 559,067 $ 364,760 $ 149,183 $ 133,339 $ 162,412 $ 7,850 $ — $ 2,005,469 Watch – Pass 19,405 32,581 17,061 9,785 2,664 2,121 — — 83,617 Special Mention 5,435 2,213 5,120 18,946 — — 835 — 32,549 Substandard 3,162 — 1,578 2,872 496 3,095 — — 11,203 Doubtful — — — — — — — — — Total Owner-occupied $ 656,860 $ 593,861 $ 388,519 $ 180,786 $ 136,499 $ 167,628 $ 8,685 $ — $ 2,132,838 Non-owner-occupied Non-watch list – Pass $ 1,075,444 $ 810,926 $ 568,489 $ 356,896 $ 64,915 $ 214,635 $ 28,679 $ — $ 3,119,984 Watch – Pass 53,534 44,582 — 11,307 — 5,071 — — 114,494 Special Mention — — — — — 10,109 — — 10,109 Substandard — — — — — — — — — Doubtful — — — — — 11 — — 11 Total Non-owner-occupied $ 1,128,978 $ 855,508 $ 568,489 $ 368,203 $ 64,915 $ 229,826 $ 28,679 $ — $ 3,244,598 Farmland Non-watch list – Pass $ 62,357 $ 36,698 $ 218,704 $ 17,563 $ 2,830 $ 20,285 $ 113,385 $ — $ 471,822 Watch – Pass 20,327 6,454 1,055 101 — 2,559 395 — 30,891 Special Mention 5,505 — 1,001 — — — — — 6,506 Substandard 6,800 3,940 36 6,393 13,133 1,318 7,274 — 38,894 Doubtful — — — — — — — — — Total Farmland $ 94,989 $ 47,092 $ 220,796 $ 24,057 $ 15,963 $ 24,162 $ 121,054 $ — $ 548,113 5+ Multi-family Non-watch list – Pass $ 30,920 $ 35,869 $ 68,996 $ 18,978 $ 1,334 $ 5,776 $ 4,908 $ — $ 166,781 Watch – Pass — — — — — — — — — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 5+ Multi-family $ 30,920 $ 35,869 $ 68,996 $ 18,978 $ 1,334 $ 5,776 $ 4,908 $ — $ 166,781 1-4 Family construction Non-watch list – Pass $ 61,943 $ 15,217 $ — $ — $ — $ — $ 19 $ — $ 77,179 Watch – Pass — — — — — — — — — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 1-4 Family construction $ 61,943 $ 15,217 $ — $ — $ — $ — $ 19 $ — $ 77,179 General construction Non-watch list – Pass $ 628,479 $ 699,698 $ 43,166 $ 15,384 $ — $ 380 $ 39,267 $ — $ 1,426,374 Watch – Pass 341 — — 22 — — — — 363 Special Mention — 8,340 — — — — — — 8,340 Substandard — 11,399 — — — 15 — — 11,414 Doubtful — — — 86 — — — — 86 Total General construction $ 628,820 $ 719,437 $ 43,166 $ 15,492 $ — $ 395 $ 39,267 $ — $ 1,446,577 The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2023 2022 2021 2020 2019 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total HELOC Performing $ — $ 600 $ — $ 504 $ 52 $ 3,899 $ 341,359 $ 1,217 $ 347,631 Non-performing — 107 — 22 — 1,555 74 153 1,911 Total HELOC $ — $ 707 $ — $ 526 $ 52 $ 5,454 $ 341,433 $ 1,370 $ 349,542 First lien: 1-4 family Performing $ 278,992 $ 601,893 $ 729,558 $ 578,010 $ 165,364 $ 175,719 $ 16 $ 63 $ 2,529,615 Non-performing — 722 336 57 407 1,632 — — 3,154 Total First lien: 1-4 family $ 278,992 $ 602,615 $ 729,894 $ 578,067 $ 165,771 $ 177,351 $ 16 $ 63 $ 2,532,769 Junior lien: 1-4 family Performing $ 6,312 $ 12,882 $ 7,892 $ 4,503 $ 2,350 $ 1,932 $ 163 $ — $ 36,034 Non-performing — — — — — 81 — — 81 Total Junior lien: 1-4 family $ 6,312 $ 12,882 $ 7,892 $ 4,503 $ 2,350 $ 2,013 $ 163 $ — $ 36,115 December 31, 2022 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2022 2021 2020 2019 2018 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total HELOC Performing $ 120 $ — $ 592 $ 90 $ 148 $ 3,919 $ 338,979 $ 759 $ 344,607 Non-performing 117 — 26 134 506 1,470 87 222 2,562 Total HELOC $ 237 $ — $ 618 $ 224 $ 654 $ 5,389 $ 339,066 $ 981 $ 347,169 First lien: 1-4 family Performing $ 628,678 $ 748,269 $ 607,055 $ 173,061 $ 45,907 $ 138,764 $ 12 $ — $ 2,341,746 Non-performing 25 93 50 405 — 1,679 — — 2,252 Total First lien: 1-4 family $ 628,703 $ 748,362 $ 607,105 $ 173,466 $ 45,907 $ 140,443 $ 12 $ — $ 2,343,998 Junior lien: 1-4 family Performing $ 13,490 $ 8,445 $ 5,107 $ 2,529 $ 940 $ 1,437 $ 87 $ — $ 32,035 Non-performing — — — — — 67 — — 67 Total Junior lien: 1-4 family $ 13,490 $ 8,445 $ 5,107 $ 2,529 $ 940 $ 1,504 $ 87 $ — $ 32,102 The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2023 2022 2021 2020 2019 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Revolving line Performing $ — $ — $ — $ — $ — $ — $ 47,931 $ 233 $ 48,164 Non-performing — — — — — — — — — Total Revolving line $ — $ — $ — $ — $ — $ — $ 47,931 $ 233 $ 48,164 Auto Performing $ 5,339 $ 7,538 $ 5,138 $ 3,133 $ 1,782 $ 262 $ — $ — $ 23,192 Non-performing — — 16 — — 7 — — 23 Total Auto $ 5,339 $ 7,538 $ 5,154 $ 3,133 $ 1,782 $ 269 $ — $ — $ 23,215 Other Performing $ 3,795 $ 24,078 $ 26,962 $ 681 $ 561 $ 1,364 $ 2,457 $ — $ 59,898 Non-performing — 15 — — — — — — 15 Total Other $ 3,795 $ 24,093 $ 26,962 $ 681 $ 561 $ 1,364 $ 2,457 $ — $ 59,913 December 31, 2022 Amortized Cost Basis by Origination Year - Term Loans Risk by Collateral 2022 2021 2020 2019 2018 Prior Amortized Cost - Revolving Loans Amortized Cost - Revolving Loans Converted to Term Loans Total Revolving line Performing $ 467 $ 584 $ — $ — $ — $ — $ 58,133 $ 1,403 $ 60,587 Non-performing — — — — — — — — — Total Revolving line $ 467 $ 584 $ — $ — $ — $ — $ 58,133 $ 1,403 $ 60,587 Auto Performing $ 9,124 $ 6,498 $ 4,454 $ 2,743 $ 335 $ 159 $ — $ — $ 23,313 Non-performing — 45 1 — — — — — 46 Total Auto $ 9,124 $ 6,543 $ 4,455 $ 2,743 $ 335 $ 159 $ — $ — $ 23,359 Other Performing $ 26,291 $ 27,751 $ 1,096 $ 876 $ 1,133 $ 591 $ 3,967 $ — $ 61,705 Non-performing 15 — — — — — — — 15 Total Other $ 26,306 $ 27,751 $ 1,096 $ 876 $ 1,133 $ 591 $ 3,967 $ — $ 61,720 The following table provides a summary of the amortized cost balance of consumer credit cards by risk rating as of June 30, 2023 and December 31, 2022 (in thousands): Consumer Risk June 30, 2023 December 31, 2022 Transactor accounts $ 73,617 $ 73,670 Revolver accounts (by credit score): Less than 600 6,800 4,684 600-619 3,281 2,515 620-639 5,306 4,959 640-659 9,525 8,655 660-679 10,120 9,593 680-699 11,564 12,023 700-719 14,398 14,098 720-739 14,104 15,036 740-759 12,594 13,638 760-779 13,843 13,768 780-799 12,728 13,172 800-819 8,344 9,257 820-839 3,983 4,363 840+ 779 917 Total $ 200,986 $ 200,348 The following table provides a summary of the amortized cost balance of commercial credit cards by risk rating as of June 30, 2023 and December 31, 2022 (in thousands): Commercial Risk June 30, 2023 December 31, 2022 Current $ 234,242 $ 219,558 Past Due 9,924 11,766 Total $ 244,166 $ 231,324 The following table provides a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2023 and December 31, 2022 (in thousands): Leases Other Risk June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Non-watch list – Pass $ 1,902 $ 1,936 $ 255,204 $ 303,107 Watch – Pass — — 761 737 Special Mention — — — — Substandard — — 25 24 Doubtful — — — — Total $ 1,902 $ 1,936 $ 255,990 $ 303,868 |
Rollforward of Allowance for Credit/Loan Losses by Portfolio Segment | This table provides a rollforward of the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2023 and June 30, 2022 (in thousands): Three Months Ended June 30, 2023 Commercial and industrial Specialty lending Commercial real estate Consumer real estate Consumer Credit cards Leases and other Total - Loans HTM Total Allowance for credit losses: Beginning balance $ 154,484 $ 922 $ 40,514 $ 5,616 $ 453 $ 6,471 $ 2,049 $ 210,509 $ 2,341 $ 212,850 Charge-offs — — — ( 21 ) ( 411 ) ( 2,066 ) — ( 2,498 ) — ( 2,498 ) Recoveries 2,098 — 21 5 100 413 — 2,637 — 2,637 Provision 7,228 ( 922 ) 1,657 927 275 2,413 ( 65 ) 11,513 487 12,000 Ending balance - ACL $ 163,810 $ — $ 42,192 $ 6,527 $ 417 $ 7,231 $ 1,984 $ 222,161 $ 2,828 $ 224,989 Allowance for credit losses on off-balance sheet credit exposures: Beginning balance $ 2,178 $ 186 $ 418 $ 124 $ 13 $ — $ 62 $ 2,981 $ 107 $ 3,088 Provision 901 — 12 ( 5 ) ( 1 ) — 115 1,022 ( 22 ) 1,000 Ending balance - ACL on off-balance sheet $ 3,079 $ 186 $ 430 $ 119 $ 12 $ — $ 177 $ 4,003 $ 85 $ 4,088 Three Months Ended June 30, 2022 Commercial and industrial Specialty lending Commercial real estate Consumer real estate Consumer Credit cards Leases and other Total - Loans HTM Total Allowance for credit losses: Beginning balance $ 118,668 $ 861 $ 47,310 $ 4,037 $ 418 $ 5,819 $ 2,175 $ 179,288 $ 2,045 $ 181,333 Charge-offs ( 28,015 ) — — ( 25 ) ( 161 ) ( 1,468 ) — ( 29,669 ) — ( 29,669 ) Recoveries 729 1 23 82 31 675 — 1,541 — 1,541 Provision 21,560 271 ( 10,093 ) 471 575 553 ( 151 ) 13,186 214 13,400 Ending balance - ACL $ 112,942 $ 1,133 $ 37,240 $ 4,565 $ 863 $ 5,579 $ 2,024 $ 164,346 $ 2,259 $ 166,605 Allowance for credit losses on off-balance sheet credit exposures: Beginning balance $ 2,178 $ 186 $ 418 $ 124 $ 13 $ — $ 62 $ 2,981 $ 107 $ 3,088 Provision — — — — — — — — — — Ending balance - ACL on off-balance sheet $ 2,178 $ 186 $ 418 $ 124 $ 13 $ — $ 62 $ 2,981 $ 107 $ 3,088 Six Months Ended June 30, 2023 Commercial and industrial Specialty lending Commercial real estate Consumer real estate Consumer Credit cards Leases and other Total - Loans HTM Total Allowance for credit losses: Beginning balance $ 136,737 $ — $ 39,370 $ 6,148 $ 494 $ 6,866 $ 2,221 $ 191,836 $ 2,407 $ 194,243 Charge-offs ( 2,819 ) — ( 21 ) ( 1,142 ) ( 680 ) ( 3,670 ) — ( 8,332 ) — ( 8,332 ) Recoveries 2,886 1 21 18 122 780 — 3,828 — 3,828 Provision 27,006 ( 1 ) 2,822 1,503 481 3,255 ( 237 ) 34,829 421 35,250 Ending balance - ACL $ 163,810 $ — $ 42,192 $ 6,527 $ 417 $ 7,231 $ 1,984 $ 222,161 $ 2,828 $ 224,989 Allowance for credit losses on off-balance sheet credit exposures: Beginning balance $ 2,178 $ 186 $ 418 $ 124 $ 13 $ — $ 62 $ 2,981 $ 107 $ 3,088 Provision 901 — 12 ( 5 ) ( 1 ) — 115 1,022 ( 22 ) 1,000 Ending balance - ACL on off-balance sheet $ 3,079 $ 186 $ 430 $ 119 $ 12 $ — $ 177 $ 4,003 $ 85 $ 4,088 Six Months Ended June 30, 2022 Commercial and industrial Specialty lending Commercial real estate Consumer real estate Consumer Credit cards Leases and other Total - Loans HTM Total Allowance for credit losses: Beginning balance $ 123,732 $ 1,738 $ 56,265 $ 3,921 $ 845 $ 6,075 $ 2,195 $ 194,771 $ 1,940 $ 196,711 Charge-offs ( 36,217 ) — — ( 57 ) ( 319 ) ( 2,933 ) — ( 39,526 ) — ( 39,526 ) Recoveries 1,390 1 385 110 60 1,074 — 3,020 — 3,020 Provision 24,037 ( 606 ) ( 19,410 ) 591 277 1,363 ( 171 ) 6,081 319 6,400 Ending balance - ACL $ 112,942 $ 1,133 $ 37,240 $ 4,565 $ 863 $ 5,579 $ 2,024 $ 164,346 $ 2,259 $ 166,605 Allowance for credit losses on off-balance sheet credit exposures: Beginning balance $ 1,739 $ 160 $ 480 $ 106 $ — $ — $ 15 $ 2,500 $ 88 $ 2,588 Provision 439 26 ( 62 ) 18 13 — 47 481 19 500 Ending balance - ACL on off-balance sheet $ 2,178 $ 186 $ 418 $ 124 $ 13 $ — $ 62 $ 2,981 $ 107 $ 3,088 |
Summary of Amortized Cost Balance of Financial Assets Considered Collateral Dependent | The following tables provide the amortized cost balance of financial assets considered collateral dependent as of June 30, 2023 and December 31, 2022 (in thousands) : June 30, 2023 Loan Segment and Type Amortized Cost of Collateral Dependent Assets Related Allowance for Credit Losses Amortized Cost of Collateral Dependent Assets with no related Allowance Commercial and industrial: Equipment/Accounts Receivable/Inventory $ 11,918 $ 1,138 $ 10,780 Agriculture — — — Total Commercial and industrial 11,918 1,138 10,780 Specialty lending: Asset-based lending — — — Total Specialty lending — — — Commercial real estate: Owner-occupied 2,243 1,857 386 Non-owner-occupied — — — Farmland 198 — 198 5+ Multi-family — — — 1-4 Family construction — — — General construction 97 — 97 Total Commercial real estate 2,538 1,857 681 Consumer real estate: HELOC 1,911 — 1,911 First lien: 1-4 family 3,154 — 3,154 Junior lien: 1-4 family 81 — 81 Total Consumer real estate 5,146 — 5,146 Consumer: Revolving line — — — Auto 23 — 23 Other 15 — 15 Total Consumer 38 — 38 Leases and other: Leases — — — Other — — — Total Leases and other — — — Total loans $ 19,640 $ 2,995 $ 16,645 December 31, 2022 Loan Segment and Type Amortized Cost of Collateral Dependent Assets Related Allowance for Credit Losses Amortized Cost of Collateral Dependent Assets with no related Allowance Commercial and industrial: Equipment/Accounts Receivable/Inventory $ 13,972 $ 713 $ 11,534 Agriculture — — — Total Commercial and industrial 13,972 713 11,534 Specialty lending: Asset-based lending — — — Total Specialty lending — — — Commercial real estate: Owner-occupied 2,204 — 2,204 Non-owner-occupied — — — Farmland 374 — 374 5+ Multi-family — — — 1-4 Family construction — — — General construction 101 — 101 Total Commercial real estate 2,679 — 2,679 Consumer real estate: HELOC 2,562 — 2,562 First lien: 1-4 family 2,253 6 1,597 Junior lien: 1-4 family 67 — 67 Total Consumer real estate 4,882 6 4,226 Consumer: Revolving line — — — Auto 46 — 46 Other 15 — 15 Total Consumer 61 — 61 Leases and other: Leases — — — Other 24 — 24 Total Leases and other 24 — 24 Total loans $ 21,618 $ 719 $ 18,524 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Securities Available for Sale | This table provides detailed information about securities available for sale at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 Amortized Gross Gross Fair U.S. Treasury $ 810,770 $ — $ ( 22,946 ) $ 787,824 U.S. Agencies 178,112 — ( 5,811 ) 172,301 Mortgage-backed 4,307,758 49 ( 594,987 ) 3,712,820 State and political subdivisions 1,399,314 1,341 ( 96,960 ) 1,303,695 Corporates 384,855 — ( 42,199 ) 342,656 Collateralized loan obligations 353,671 218 ( 4,570 ) 349,319 Total $ 7,434,480 $ 1,608 $ ( 767,473 ) $ 6,668,615 December 31, 2022 Amortized Gross Gross Fair U.S. Treasury $ 804,158 $ 58 $ ( 27,146 ) $ 777,070 U.S. Agencies 178,261 — ( 6,965 ) 171,296 Mortgage-backed 4,574,905 92 ( 592,875 ) 3,982,122 State and political subdivisions 1,465,598 1,608 ( 104,799 ) 1,362,407 Corporates 401,059 — ( 33,559 ) 367,500 Collateralized loan obligations 353,969 32 ( 8,049 ) 345,952 Total $ 7,777,950 $ 1,790 $ ( 773,393 ) $ 7,006,347 |
Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale | The following table shows the Company’s available-for-sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2023 and December 31, 2022 (in thousands): Less than 12 months 12 months or more Total June 30, 2023 Count Fair Value Unrealized Count Fair Value Unrealized Count Fair Value Unrealized Description of Securities U.S. Treasury 8 $ 56,846 $ ( 673 ) 61 $ 730,978 $ ( 22,273 ) 69 $ 787,824 $ ( 22,946 ) U.S. Agencies — — — 29 172,301 ( 5,811 ) 29 172,301 ( 5,811 ) Mortgage-backed 157 445,406 ( 24,090 ) 719 3,257,924 ( 570,897 ) 876 3,703,330 ( 594,987 ) State and political subdivisions 953 449,733 ( 9,411 ) 1,022 689,601 ( 87,549 ) 1,975 1,139,334 ( 96,960 ) Corporates 7 14,500 ( 758 ) 262 328,156 ( 41,441 ) 269 342,656 ( 42,199 ) Collateralized loan obligations 5 28,996 ( 135 ) 37 259,016 ( 4,435 ) 42 288,012 ( 4,570 ) Total 1,130 $ 995,481 $ ( 35,067 ) 2,130 $ 5,437,976 $ ( 732,406 ) 3,260 $ 6,433,457 $ ( 767,473 ) Less than 12 months 12 months or more Total December 31, 2022 Count Fair Value Unrealized Count Fair Value Unrealized Count Fair Value Unrealized Description of Securities U.S. Treasury 61 $ 688,208 $ ( 22,731 ) 4 $ 55,314 $ ( 4,415 ) 65 $ 743,522 $ ( 27,146 ) U.S. Agencies 27 140,877 ( 4,734 ) 2 30,419 ( 2,231 ) 29 171,296 ( 6,965 ) Mortgage-backed 687 1,415,169 ( 102,881 ) 205 2,557,035 ( 489,994 ) 892 3,972,204 ( 592,875 ) State and political subdivisions 1,744 936,865 ( 51,427 ) 273 233,679 ( 53,372 ) 2,017 1,170,544 ( 104,799 ) Corporates 86 146,615 ( 8,783 ) 189 216,885 ( 24,776 ) 275 363,500 ( 33,559 ) Collateralized loan obligations 41 326,659 ( 7,820 ) 1 4,785 ( 229 ) 42 331,444 ( 8,049 ) Total 2,646 $ 3,654,393 $ ( 198,376 ) 674 $ 3,098,117 $ ( 575,017 ) 3,320 $ 6,752,510 $ ( 773,393 ) |
Gross Unrealized Losses and Fair Value of Investment Securities Held to Maturity | The following table shows the Company’s held-to-maturity investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2023 and December 31, 2022, respectively (in thousands): Less than 12 months 12 months or more Total June 30, 2023 Count Fair Value Unrealized Losses Count Fair Value Unrealized Losses Count Fair Value Unrealized Losses U.S. Agencies — $ — $ — 11 $ 118,566 $ ( 4,584 ) 11 $ 118,566 $ ( 4,584 ) Mortgage-backed 13 40,190 ( 3,165 ) 252 2,414,916 ( 394,111 ) 265 2,455,106 ( 397,276 ) State and political subdivisions 204 459,873 ( 18,163 ) 1,302 1,691,797 ( 186,692 ) 1,506 2,151,670 ( 204,855 ) Total 217 $ 500,063 $ ( 21,328 ) 1,565 $ 4,225,279 $ ( 585,387 ) 1,782 $ 4,725,342 $ ( 606,715 ) Less than 12 months 12 months or more Total December 31, 2022 Count Fair Value Unrealized Count Fair Value Unrealized Count Fair Value Unrealized U.S. Agency 11 $ 118,524 $ ( 4,567 ) — $ — $ — 11 $ 118,524 $ ( 4,567 ) Mortgage-backed 254 2,342,656 ( 346,611 ) 11 228,079 ( 45,919 ) 265 2,570,735 ( 392,530 ) State and political subdivisions 1,403 1,543,692 ( 177,957 ) 61 617,805 ( 23,515 ) 1,464 2,161,497 ( 201,472 ) Total 1,668 $ 4,004,872 $ ( 529,135 ) 72 $ 845,884 $ ( 69,434 ) 1,740 $ 4,850,756 $ ( 598,569 ) |
Schedule of Amortized Cost Basis by Credit Rating of Held to Maturity Investment | The following tables show the amortized cost basis by credit rating of the Company’s held-to-maturity investments at June 30, 2023 and December 31, 2022 (in thousands): Amortized Cost Basis by Credit Rating - HTM Debt Securities June 30, 2023 AAA AA A BBB BB B CCC-C Total State and political subdivisions: Competitive $ — $ — $ 468,632 $ 645,720 $ 17,617 $ 17,438 $ 2,793 $ 1,152,200 Utilities 762,228 804,774 84,109 28,844 598 — — 1,680,553 Total state and political subdivisions $ 762,228 $ 804,774 $ 552,741 $ 674,564 $ 18,215 $ 17,438 $ 2,793 $ 2,832,753 Amortized Cost Basis by Credit Rating - HTM Debt Securities December 31, 2022 AAA AA A BBB BB CCC-C Total State and political subdivisions: Competitive $ — $ — $ 435,953 $ 618,517 $ 17,120 $ 2,934 $ 1,074,524 Utilities 759,539 824,386 84,293 29,599 581 — 1,698,398 Total state and political subdivisions $ 759,539 $ 824,386 $ 520,246 $ 648,116 $ 17,701 $ 2,934 $ 2,772,922 |
Schedule of Other Securities | The table below provides detailed information for Other securities at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 FRB and FHLB stock $ 82,672 $ 41,472 Equity securities with readily determinable fair values 10,925 10,782 Equity securities without readily determinable fair values 334,552 297,504 Total $ 428,149 $ 349,758 |
Schedule of Components of Investment Securities (Losses) Gains, Net | The table below presents the components of Investments securities gains (losses), net for the three and six months ended June 30, 2023 and June 30, 2022 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Investment securities gain (losses), net Available-for-sale debt securities: Gains realized on sales $ — $ — $ — $ — Losses realized on sales — — ( 2 ) — Impairment of AFS security ( 125 ) — ( 4,925 ) — Equity securities with readily determinable fair values: Fair value adjustments, net ( 62 ) ( 5,407 ) 26 ( 7,129 ) Equity securities without readily determinable fair values: Fair value adjustments, net 1,087 ( 35 ) 477 1,165 Sales — 66,162 — 66,162 Total investment securities gains (losses), net $ 900 $ 60,720 $ ( 4,424 ) $ 60,198 |
Available-for-sale Securities [Member] | |
Contractual Maturity Information | The following table presents contractual maturity information for securities available for sale at June 30, 2023 (in thousands): Amortized Fair Cost Value Due in 1 year or less $ 810,149 $ 793,247 Due after 1 year through 5 years 1,044,011 998,795 Due after 5 years through 10 years 739,996 691,121 Due after 10 years 532,566 472,632 Total 3,126,722 2,955,795 Mortgage-backed securities 4,307,758 3,712,820 Total securities available for sale $ 7,434,480 $ 6,668,615 |
Held-to-maturity Securities [Member] | |
Contractual Maturity Information | The following table provides detailed information about securities held to maturity at June 30, 2023 and December 31, 2022, respectively (in thousands): June 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Net Carrying Amount U.S. Agencies $ 123,150 $ — $ ( 4,584 ) $ 118,566 $ — $ 123,150 Mortgage-backed 2,854,688 5 ( 397,276 ) 2,457,417 — 2,854,688 State and political subdivisions 2,832,753 30,355 ( 204,855 ) 2,658,253 ( 2,828 ) 2,829,925 Total $ 5,810,591 $ 30,360 $ ( 606,715 ) $ 5,234,236 $ ( 2,828 ) $ 5,807,763 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Net Carrying Amount U.S. Agencies $ 123,091 $ — $ ( 4,567 ) $ 118,524 $ — $ 123,091 Mortgage-backed 2,965,586 11 ( 392,530 ) 2,573,067 — 2,965,586 State and political subdivisions 2,772,922 17,618 ( 201,472 ) 2,589,068 ( 2,407 ) 2,770,515 Total $ 5,861,599 $ 17,629 $ ( 598,569 ) $ 5,280,659 $ ( 2,407 ) $ 5,859,192 The following table presents contractual maturity information for securities held to maturity at June 30, 2023 (in thousands): Amortized Fair Cost Value Due in 1 year or less $ 94,047 $ 93,373 Due after 1 year through 5 years 315,932 305,894 Due after 5 years through 10 years 841,919 805,379 Due after 10 years 1,704,005 1,572,173 Total 2,955,903 2,776,819 Mortgage-backed securities 2,854,688 2,457,417 Total securities held to maturity $ 5,810,591 $ 5,234,236 |
Goodwill and Other Intangibles
Goodwill and Other Intangibles (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Changes in Carrying Amount of Goodwill | Changes in the carrying amount of goodwill for the periods ended June 30, 2023 and December 31, 2022 by reportable segment are as follows (in thousands): Commercial Banking Institutional Banking Personal Banking Total Balances as of January 1, 2023 $ 63,113 $ 76,492 $ 67,780 $ 207,385 Balances as of June 30, 2023 $ 63,113 $ 76,492 $ 67,780 $ 207,385 Balances as of January 1, 2022 $ 59,419 $ 51,332 $ 63,767 $ 174,518 Healthcare savings account business acquisition — 25,160 — 25,160 Branch acquisition 3,694 — 4,013 7,707 Balances as of December 31, 2022 $ 63,113 $ 76,492 $ 67,780 $ 207,385 |
Changes in Intangible Assets | The following table lists the finite-lived intangible assets that continue to be subject to amortization as of June 30, 2023 and December 31, 2022 (in thousands) : As of June 30, 2023 Core Deposit Intangible Assets Customer Relationships Total Gross carrying amount $ 14,130 $ 115,853 $ 129,983 Accumulated amortization 12,618 42,181 54,799 Net carrying amount $ 1,512 $ 73,672 $ 75,184 As of December 31, 2022 Core Deposit Intangible Assets Customer Relationships Total Gross carrying amount $ 16,661 $ 114,978 $ 131,639 Accumulated amortization 14,827 38,088 52,915 Net carrying amount $ 1,834 $ 76,890 $ 78,724 |
Aggregate Amortization Expense Recognized | The following table has the aggregate amortization expense recognized in each period (in thousands) : Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Aggregate amortization expense $ 2,117 $ 1,225 $ 4,415 $ 2,296 |
Estimated Amortization Expense of Intangible Assets | The following table lists estimated amortization expense of intangible assets in future periods (in thousands): For the six months ending December 31, 2023 $ 4,171 For the year ending December 31, 2024 7,694 For the year ending December 31, 2025 7,487 For the year ending December 31, 2026 6,628 For the year ending December 31, 2027 4,655 |
Borrowed Funds (Tables)
Borrowed Funds (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Component of Short-Term and Long Term Debt | The components of the Company's short-term and long-term debt are as follows (in thousands) : June 30, 2023 December 31, 2022 Short-term debt: Federal Home Loan Bank 5.04 % due 2024 $ 1,000,000 $ — Federal Reserve Bank Term Funding Program 4.70 % due 2023 800,000 — Total short-term debt 1,800,000 — Long-term debt: Trust Preferred Securities: Marquette Capital Trust I Subordinated Debentures 6.59 % due 2036 18,463 18,319 Marquette Capital Trust II Subordinated Debentures 6.59 % due 2036 18,998 18,863 Marquette Capital Trust III Subordinated Debentures 7.04 % due 2036 7,466 7,415 Marquette Capital Trust IV Subordinated Debentures 7.15 % due 2036 30,157 29,956 Subordinated notes 3.70 % due 2030 , net of issuance costs 199,006 198,781 Subordinated notes 6.25 % due 2032 , net issuance costs 108,190 107,977 Total long-term debt 382,280 381,311 Total borrowed funds $ 2,182,280 $ 381,311 |
Repurchase Agreements | |
Remaining Contractual Maturities Of Repurchase Agreements | The table below presents the remaining contractual maturities of repurchase agreements outstanding at June 30, 2023 and December 31, 2022, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands): As of June 30, 2023 Remaining Contractual Maturities of the Agreements 2-29 Days 30-90 Days Over 90 Days Total Repurchase agreements, secured by: U.S. Treasury $ 65,334 $ — $ 46,805 $ 112,139 U.S. Agencies 1,610,136 202,132 52,195 1,864,463 Total repurchase agreements $ 1,675,470 $ 202,132 $ 99,000 $ 1,976,602 As of December 31, 2022 Remaining Contractual Maturities of the Agreements 2-29 Days 30-90 Days Total Repurchase agreements, secured by: U.S. Treasury $ 33,888 $ — $ 33,888 U.S. Agencies 1,835,298 290,501 2,125,799 Total repurchase agreements $ 1,869,186 $ 290,501 $ 2,159,687 |
Business Segment Reporting (Tab
Business Segment Reporting (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Segment Reporting [Abstract] | |
Schedule of Segment Financial Results | Business Segment financial results for the three and six months ended June 30, 2023 and June 30, 2022 were as follows (in thousands): Three Months Ended June 30, 2023 Commercial Banking Institutional Banking Personal Banking Total Net interest income $ 144,389 $ 50,397 $ 30,825 $ 225,611 Provision for credit losses 11,055 234 1,711 13,000 Noninterest income 25,666 86,813 25,603 138,082 Noninterest expense 85,896 91,591 63,186 240,673 Income (loss) before taxes 73,104 45,385 ( 8,469 ) 110,020 Income tax expense (benefit) 13,230 8,213 ( 1,533 ) 19,910 Net income (loss) $ 59,874 $ 37,172 $ ( 6,936 ) $ 90,110 Average assets $ 20,888,000 $ 12,756,000 $ 6,721,000 $ 40,365,000 Three Months Ended June 30, 2022 Commercial Banking Institutional Banking Personal Banking Total Net interest income $ 149,094 $ 34,981 $ 40,716 $ 224,791 Provision for credit losses 12,067 89 1,244 13,400 Noninterest income 56,894 81,082 38,359 176,335 Noninterest expense 79,521 76,511 58,095 214,127 Income before taxes 114,400 39,463 19,736 173,599 Income tax expense 23,752 8,193 4,098 36,043 Net income $ 90,648 $ 31,270 $ 15,638 $ 137,556 Average assets $ 16,829,000 $ 13,577,000 $ 7,157,000 $ 37,563,000 Six Months Ended June 30, 2023 Commercial Banking Institutional Banking Personal Banking Total Net interest income $ 295,416 $ 105,482 $ 66,409 $ 467,307 Provision for credit losses 32,099 331 3,820 36,250 Noninterest income 48,568 171,051 48,663 268,282 Noninterest expense 169,900 180,962 126,863 477,725 Income (loss) before taxes 141,985 95,240 ( 15,611 ) 221,614 Income tax expense (benefit) 25,030 16,789 ( 2,752 ) 39,067 Net income (loss) $ 116,955 $ 78,451 $ ( 12,859 ) $ 182,547 Average assets $ 20,209,000 $ 12,603,000 $ 6,631,000 $ 39,443,000 Six Months Ended June 30, 2022 Commercial Banking Institutional Banking Personal Banking Total Net interest income $ 294,096 $ 61,233 $ 79,817 $ 435,146 Provision for credit losses 5,027 240 1,633 6,900 Noninterest income 83,594 154,354 62,065 300,013 Noninterest expense 159,110 152,112 117,683 428,905 Income before taxes 213,553 63,235 22,566 299,354 Income tax expense 39,831 11,795 4,209 55,835 Net income $ 173,722 $ 51,440 $ 18,357 $ 243,519 Average assets $ 16,824,000 $ 14,125,000 $ 7,404,000 $ 38,353,000 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Revenue From Contract With Customer [Abstract] | |
Summary of Disaggregation of Revenue According to Revenue Stream and Business Segment | The following table depicts the disaggregation of noninterest income according to revenue stream and Business Segment for the three and six months ended June 30, 2023 and June 30, 2022. As stated in Note 8, “Business Segment Reporting,” for comparability purposes, amounts in all periods are based on methodologies in effect at June 30, 2023 and previously reported results have been reclassified in this Form 10-Q to conform to the Company’s current organizational structure. Disaggregated revenue is as follows (in thousands): Three Months Ended June 30, 2023 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Revenue (Expense) out of Scope of ASC 606 Total Trust and securities processing $ — $ 48,413 $ 13,176 $ — $ 61,589 Trading and investment banking — 155 — 4,645 4,800 Service charges on deposit accounts 9,778 10,159 1,420 24 21,381 Insurance fees and commissions — — 225 — 225 Brokerage fees 65 11,687 1,852 — 13,604 Bankcard fees 16,868 6,662 5,698 ( 10,649 ) 18,579 Investment securities gains, net — — — 900 900 Other 165 520 612 15,707 17,004 Total Noninterest income $ 26,876 $ 77,596 $ 22,983 $ 10,627 $ 138,082 Three Months Ended June 30, 2022 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Revenue (Expense) out of Scope of ASC 606 Total Trust and securities processing $ — $ 45,355 $ 13,531 $ — $ 58,886 Trading and investment banking — 60 — 7,063 7,123 Service charges on deposit accounts 8,696 10,250 1,839 50 20,835 Insurance fees and commissions — — 245 — 245 Brokerage fees 75 10,350 1,966 — 12,391 Bankcard fees 15,757 5,553 5,913 ( 9,383 ) 17,840 Investment securities gains, net — — — 60,720 60,720 Other 232 479 694 ( 3,110 ) ( 1,705 ) Total Noninterest income $ 24,760 $ 72,047 $ 24,188 $ 55,340 $ 176,335 Six Months Ended June 30, 2023 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Revenue (Expense) out of Scope of ASC 606 Total Trust and securities processing $ — $ 97,592 $ 26,356 $ — $ 123,948 Trading and investment banking — 313 — 9,795 10,108 Service charges on deposit accounts 18,305 20,898 3,295 42 42,540 Insurance fees and commissions — — 499 — 499 Brokerage fees 128 23,482 3,670 — 27,280 Bankcard fees 32,500 13,340 11,292 ( 20,381 ) 36,751 Investment securities losses, net — — — ( 4,424 ) ( 4,424 ) Other 390 978 1,318 28,894 31,580 Total Noninterest income $ 51,323 $ 156,603 $ 46,430 $ 13,926 $ 268,282 Six Months Ended June 30, 2022 NONINTEREST INCOME Commercial Banking Institutional Banking Personal Banking Revenue (Expense) out of Scope of ASC 606 Total Trust and securities processing $ — $ 90,840 $ 27,574 $ — $ 118,414 Trading and investment banking — 216 — 12,347 12,563 Service charges on deposit accounts 17,641 24,140 3,576 120 45,477 Insurance fees and commissions — — 504 — 504 Brokerage fees 108 11,834 3,905 — 15,847 Bankcard fees 29,731 10,884 11,132 ( 17,272 ) 34,475 Investment securities gains, net — — — 60,198 60,198 Other 396 903 1,379 9,857 12,535 Total Noninterest income $ 47,876 $ 138,817 $ 48,070 $ 65,250 $ 300,013 |
Commitments, Contingencies an_2
Commitments, Contingencies and Guarantees (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Commitments And Contingencies Disclosure [Abstract] | |
Notional Amount of Off-Balance Sheet Financial Instruments | The following table summarizes the Company’s off-balance sheet financial instruments (in thousands): Contract or Notional Amount June 30, December 31, 2023 2022 Commitments to extend credit for loans (excluding credit card loans) $ 12,700,354 $ 12,988,231 Commitments to extend credit under credit card loans 4,578,484 4,008,386 Commercial letters of credit 3,230 3,334 Standby letters of credit 437,733 436,965 Forward contracts 13,674 32,552 Spot foreign exchange contracts 15,009 5,112 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Fair Value of Derivative Assets and Liabilities | This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of June 30, 2023 and December 31, 2022 ( in thousands ): Derivative Assets Derivative Liabilities June 30, December 31, June 30, December 31, Fair Value 2023 2022 2023 2022 Interest Rate Products: Derivatives not designated as hedging instruments $ 112,237 $ 47,638 $ 118,471 $ 126,231 Derivatives designated as hedging instruments 4 483 91 103 Total $ 112,241 $ 48,121 $ 118,562 $ 126,334 |
Summary of Amount of Gain (Loss) Recognized in Interest Income and Other Non-interest Expense in Consolidated Statements of Income Related to Derivative Assets and Liabilities | This table provides a summary of the amount of gain or loss recognized in Interest income and Other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2023 and June 30, 2022 (in thousands) : Amount of Gain (Loss) Recognized For the Three Months Ended For the Six Months Ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 Interest Rate Products Derivatives not designated as hedging instruments $ 51 $ 191 $ ( 22 ) $ 374 Total $ 51 $ 191 $ ( 22 ) $ 374 Interest Rate Products Derivatives designated as hedging instruments: Fair value adjustments on derivatives $ 656 $ 16,035 $ 849 $ 52,711 Fair value adjustments on hedged items ( 657 ) ( 16,106 ) ( 847 ) ( 52,164 ) Total $ ( 1 ) $ ( 71 ) $ 2 $ 547 |
Summary of Effect of Hedges on AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities | These tables provide a summary of the effect of hedges on AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2023 and June 30, 2022 (in thousands) : For the Three Months Ended June 30, 2023 Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative Gain Recognized in OCI Included Component Gain Recognized in OCI Excluded Component Gain Reclassified from AOCI into Earnings Gain Reclassified from AOCI into Earnings Included Component Loss Reclassified from AOCI into Earnings Excluded Component Interest rate floor $ — $ — $ — $ 1,205 $ 1,766 $ ( 561 ) Interest rate swaps 1,848 1,848 — 296 296 — Total $ 1,848 $ 1,848 $ — $ 1,501 $ 2,062 $ ( 561 ) For the Three Months Ended June 30, 2022 Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative Gain Recognized in OCI Included Component Gain Recognized in OCI Excluded Component Gain (Loss) Reclassified from AOCI into Earnings Gain (Loss) Reclassified from AOCI into Earnings Included Component Loss Reclassified from AOCI into Earnings Excluded Component Interest rate floor $ — $ — $ — $ 1,250 $ 1,811 $ ( 561 ) Interest rate swaps 4,437 4,437 — ( 224 ) ( 224 ) — Total $ 4,437 $ 4,437 $ — $ 1,026 $ 1,587 $ ( 561 ) For the Six Months Ended June 30, 2023 Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative Gain Recognized in OCI Included Component Gain Recognized in OCI Excluded Component Gain Reclassified from AOCI into Earnings Gain Reclassified from AOCI into Earnings Included Component Loss Reclassified from AOCI into Earnings Excluded Component Interest rate floor $ — $ — $ — $ 2,436 $ 3,552 $ ( 1,116 ) Interest rate swaps 321 321 — 560 560 — Total $ 321 $ 321 $ — $ 2,996 $ 4,112 $ ( 1,116 ) For the Six Months Ended June 30, 2022 Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative Gain Recognized in OCI Included Component Gain Recognized in OCI Excluded Component Gain (Loss) Reclassified from AOCI into Earnings Gain (Loss) Reclassified from AOCI into Earnings Included Component Loss Reclassified from AOCI into Earnings Excluded Component Interest rate floor $ — $ — $ — $ 2,413 $ 3,529 $ ( 1,116 ) Interest rate swaps 9,117 9,117 — ( 536 ) ( 536 ) — Total $ 9,117 $ 9,117 $ — $ 1,877 $ 2,993 $ ( 1,116 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 (in thousands): Fair Value Measurement at June 30, 2023 Description June 30, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 584 $ 584 $ — $ — U.S. Agencies 11,129 — 11,129 — State and political subdivisions 16,939 — 16,939 — Corporates 156 156 — — Trading – other 79 79 — — Trading securities 28,887 819 28,068 — U.S. Treasury 787,824 787,824 — — U.S. Agencies 172,301 — 172,301 — Mortgage-backed 3,712,820 — 3,712,820 — State and political subdivisions 1,303,695 — 1,303,695 — Corporates 342,656 342,656 — — Collateralized loan obligations 349,319 — 349,319 — Available-for-sale securities 6,668,615 1,130,480 5,538,135 — Equity securities with readily determinable fair values 10,925 10,925 — — Company-owned life insurance 63,837 — 63,837 — Bank-owned life insurance 516,816 — 516,816 — Derivatives 112,241 — 112,241 — Total $ 7,401,321 $ 1,142,224 $ 6,259,097 $ — Liabilities Derivatives $ 118,562 $ — $ 118,562 $ — Securities sold not yet purchased 7,229 — 7,229 — Total $ 125,791 $ — $ 125,791 $ — Fair Value Measurement at December 31, 2022 Description December 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 580 $ 580 $ — $ — U.S. Agencies 7,558 — 7,558 — State and political subdivisions 8,038 — 8,038 — Corporates 1,024 1,024 — — Trading – other 780 780 — — Trading securities 17,980 2,384 15,596 — U.S. Treasury 777,070 777,070 — — U.S. Agencies 171,296 — 171,296 — Mortgage-backed 3,982,122 — 3,982,122 — State and political subdivisions 1,362,407 — 1,362,407 — Corporates 367,500 367,500 — — Collateralized loan obligations 345,952 — 345,952 — Available for sale securities 7,006,347 1,144,570 5,861,777 — Equity securities with readily determinable fair values 10,782 10,782 — — Company-owned life insurance 56,769 — 56,769 — Bank-owned life insurance 510,293 — 510,293 — Derivatives 48,121 — 48,121 — Total $ 7,650,292 $ 1,157,736 $ 6,492,556 $ — Liabilities Derivatives $ 126,334 $ — $ 126,334 $ — Securities sold not yet purchased 3,503 — 3,503 — Total $ 129,837 $ — $ 129,837 $ — |
Assets Measured at Fair Value on Non-Recurring Basis | Assets measured at fair value on a non-recurring basis as of June 30, 2023 and December 31, 2022 (in thousands): Fair Value Measurement at June 30, 2023 Using Description June 30, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Losses Recognized During the Six Months Ended June 30 Collateral dependent assets $ 4,510 $ — $ — $ 4,510 $ ( 3,403 ) Other real estate owned — — — — — Total $ 4,510 $ — $ — $ 4,510 $ ( 3,403 ) Fair Value Measurement at December 31, 2022 Using Description December 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Losses Recognized During the Twelve Months Ended December 31 Collateral dependent assets $ 4,373 $ — $ — $ 4,373 $ ( 2,998 ) Other real estate owned 68 — — 68 — Total $ 4,441 $ — $ — $ 4,441 $ ( 2,998 ) |
Estimated Fair Value of Financial Instruments | The estimated fair value of the Company’s financial instruments at June 30, 2023 and December 31, 2022 are as follows (in thousands): Fair Value Measurement at June 30, 2023 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Total FINANCIAL ASSETS Cash and short-term investments $ 4,121,276 $ 3,811,438 $ 309,838 $ — $ 4,121,276 Securities available for sale 6,668,615 1,130,480 5,538,135 — 6,668,615 Securities held to maturity (exclusive of allowance for credit losses) 5,810,591 — 5,234,236 — 5,234,236 Trading securities 28,887 819 28,068 — 28,887 Other securities 428,149 10,925 417,224 — 428,149 Loans (exclusive of allowance for credit losses) 22,487,361 — 22,295,499 — 22,295,499 Derivatives 112,241 — 112,241 — 112,241 FINANCIAL LIABILITIES Demand and savings deposits 30,326,969 30,326,969 — — 30,326,969 Time deposits 3,193,492 — 3,200,832 — 3,200,832 Other borrowings 3,850,583 73,981 3,776,602 — 3,850,583 Long-term debt 382,280 — 415,254 — 415,254 Derivatives 118,562 — 118,562 — 118,562 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 5,429 Commercial letters of credit 54 Standby letters of credit 2,185 Fair Value Measurement at December 31, 2022 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Total FINANCIAL ASSETS Cash and short-term investments $ 2,638,384 $ 1,686,787 $ 951,597 $ — $ 2,638,384 Securities available for sale 7,006,347 1,144,570 5,861,777 — 7,006,347 Securities held to maturity (exclusive of allowance for credit losses) 5,861,599 — 5,280,659 — 5,280,659 Trading securities 17,980 2,384 15,596 — 17,980 Other securities 349,758 10,782 338,976 — 349,758 Loans (exclusive of allowance for credit losses) 21,033,167 — 20,816,899 — 20,816,899 Derivatives 48,121 — 48,121 — 48,121 FINANCIAL LIABILITIES Demand and savings deposits 31,721,995 31,721,995 — — 31,721,995 Time deposits 917,138 — 917,138 — 917,138 Other borrowings 2,222,167 62,480 2,159,687 — 2,222,167 Long-term debt 381,311 — 418,737 — 418,737 Derivatives 126,334 — 126,334 — 126,334 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 9,260 Commercial letters of credit 185 Standby letters of credit 3,982 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Accounting Policies [Abstract] | |||
Due from the FRB | $ 3,308,089 | $ 1,756,245 | |
Cash and due from banks | 431,527 | $ 500,682 | 360,242 |
Cash and cash equivalents at end of period | $ 3,739,616 | $ 2,116,487 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Summary Of Significant Accounting Policies [Line Items] | ||||
Interest bearing amounts held at other financial institutions | $ 61 | $ 63.9 | $ 61 | $ 63.9 |
Dilutive effect of common stock issuable upon exercise of options | 154,136 | 326,738 | 232,622 | 378,191 |
Anti-dilutive shares | 266,768 | 0 | 215,902 | 0 |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 USD ($) Tdr | Jun. 30, 2023 USD ($) Loan | Jun. 30, 2022 USD ($) Tdr | Dec. 31, 2022 USD ($) | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Proceeds from sales of loans held for sale | $ 30,629,000 | $ 22,267,000 | ||
Nonaccrual Loans | 19,347,000 | $ 19,269,000 | ||
Restructured loans | 3,200,000 | 5,200,000 | ||
Total Past Due | 22,483,542,000 | 21,031,189,000 | ||
Non accrual loans with no related allowance for credit losses | 16,858,000 | 16,704,000 | ||
Accrued interest on loans | $ 91,600,000 | 90,600,000 | ||
Number of reasonable and supportable forecast period | 1 year | |||
Commitments to lend to borrowers with loan modifications classified as TDR's | $ 0 | 0 | ||
Modifications made to borrowers experiencing financial difficulty commitment to lend | $ 0 | |||
Loan modifications made to borrowers experiencing financial difficulty | Loan | 0 | |||
Default payment of troubled restructuring | $ 0 | 0 | ||
Consumer Real Estate [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Proceeds from sales of loans held for sale | $ 30,600,000 | $ 22,300,000 | ||
Minimum [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Number of reasonable and supportable forecast period | 1 year | |||
Maximum [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Number of reasonable and supportable forecast period | 3 years | |||
Greater than 90 days Past Due and Accruing [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total Past Due | $ 10,675,000 | $ 1,617,000 | ||
Consumer Real Estate Portfolio [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Number of Contracts | Tdr | 2 | 2 | ||
Default payment of troubled restructuring, pre-modification | $ 5,100,000 | $ 5,100,000 | ||
Default payment of troubled restructuring, post-modification | $ 4,300,000 | $ 4,300,000 |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses - Summary of Loan Classes and Aging of Past Due Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 22,483,542 | $ 21,031,189 |
Nonaccrual Loans | 19,347 | 19,269 |
30-89 Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 12,202 | 8,775 |
Greater than 90 days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 10,675 | 1,617 |
Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 42,224 | 29,661 |
Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 22,441,318 | 21,001,528 |
Commercial and Industrial Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 9,901,347 | 9,205,986 |
Nonaccrual Loans | 11,412 | 11,356 |
Commercial and Industrial Portfolio [Member] | 30-89 Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 4,257 | 2,456 |
Commercial and Industrial Portfolio [Member] | Greater than 90 days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 6,029 | 2 |
Commercial and Industrial Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 21,698 | 13,814 |
Commercial and Industrial Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 9,879,649 | 9,192,172 |
Specialty Lending Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 561,216 | 602,706 |
Specialty Lending Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 561,216 | 602,706 |
Commercial Real Estate Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 8,268,217 | 7,616,086 |
Nonaccrual Loans | 2,367 | 2,505 |
Commercial Real Estate Portfolio Segment | 30-89 Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 980 | 2,167 |
Commercial Real Estate Portfolio Segment | Greater than 90 days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 1,887 | 191 |
Commercial Real Estate Portfolio Segment | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,234 | 4,863 |
Commercial Real Estate Portfolio Segment | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 8,262,983 | 7,611,223 |
Consumer Real Estate Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 2,918,426 | 2,723,269 |
Nonaccrual Loans | 5,146 | 4,882 |
Consumer Real Estate Portfolio [Member] | 30-89 Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 154 | 10 |
Consumer Real Estate Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,300 | 4,892 |
Consumer Real Estate Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 2,913,126 | 2,718,377 |
Consumer Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 131,292 | 145,666 |
Nonaccrual Loans | 38 | 61 |
Consumer Portfolio [Member] | 30-89 Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 75 | 613 |
Consumer Portfolio [Member] | Greater than 90 days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 14 | 20 |
Consumer Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 127 | 694 |
Consumer Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 131,165 | 144,972 |
Credit Cards Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 445,152 | 431,672 |
Nonaccrual Loans | 384 | 441 |
Credit Cards Portfolio [Member] | 30-89 Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 6,736 | 3,529 |
Credit Cards Portfolio [Member] | Greater than 90 days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 2,745 | 1,404 |
Credit Cards Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 9,865 | 5,374 |
Credit Cards Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 435,287 | 426,298 |
Leases and Other Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 257,892 | 305,804 |
Nonaccrual Loans | 24 | |
Leases and Other Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 24 | |
Leases and Other Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 257,892 | $ 305,780 |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses - Summary of Amortized Cost of Nonaccrual Loans with No Related Allowance (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual Loans | $ 19,347 | $ 19,269 |
Amortized Cost of Nonaccrual Loans with no related Allowance | 16,858 | 16,704 |
Commercial and Industrial Portfolio [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual Loans | 11,412 | 11,356 |
Amortized Cost of Nonaccrual Loans with no related Allowance | 10,781 | 9,447 |
Commercial Real Estate Portfolio Segment | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual Loans | 2,367 | 2,505 |
Amortized Cost of Nonaccrual Loans with no related Allowance | 509 | 2,505 |
Consumer Real Estate Portfolio [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual Loans | 5,146 | 4,882 |
Amortized Cost of Nonaccrual Loans with no related Allowance | 5,146 | 4,226 |
Consumer Portfolio [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual Loans | 38 | 61 |
Amortized Cost of Nonaccrual Loans with no related Allowance | 38 | 61 |
Credit Cards Portfolio [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual Loans | 384 | 441 |
Amortized Cost of Nonaccrual Loans with no related Allowance | $ 384 | 441 |
Leases and Other Portfolio [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual Loans | 24 | |
Amortized Cost of Nonaccrual Loans with no related Allowance | $ 24 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses - Summary of Amortized Cost Balance of Each of Loan Classes Disaggregated by Collateral Type and Origination Year (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | $ 2,126,685 | $ 5,578,255 |
Amortized Cost Basis by Origination Year 2022 | 5,529,607 | 4,716,362 |
Amortized Cost Basis by Origination Year 2021 | 4,473,489 | 2,611,634 |
Amortized Cost Basis by Origination Year 2020 | 2,354,246 | 1,089,550 |
Amortized Cost Basis by Origination Year 2019 | 957,529 | 382,756 |
Amortized Cost Basis by Origination Year Prior to 2019 | 844,554 | 665,491 |
Amortized Cost - Revolving Loans | 6,175,789 | 5,980,269 |
Amortized Cost - Revolving Loans Converted to Term Loans | 21,643 | 6,872 |
Total Loans | 22,483,542 | 21,031,189 |
Commercial and Industrial Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 1,011,865 | 2,154,239 |
Amortized Cost Basis by Origination Year 2022 | 1,936,439 | 1,567,942 |
Amortized Cost Basis by Origination Year 2021 | 1,370,711 | 644,695 |
Amortized Cost Basis by Origination Year 2021, Current period charge-offs | 383 | |
Amortized Cost Basis by Origination Year 2020 | 572,617 | 269,429 |
Amortized Cost Basis by Origination Year 2019 | 239,097 | 97,312 |
Amortized Cost Basis by Origination Year Prior to 2019 | 137,372 | 87,328 |
Amortized Cost Basis by Origination Year Prior to 2019, Current period charge-offs | 21 | |
Amortized Cost - Revolving Loans | 4,613,269 | 4,380,553 |
Amortized Cost - Revolving Loans, Current period charge-offs | 2,415 | |
Amortized Cost - Revolving Loans Converted to Term Loans | 19,977 | 4,488 |
Total Loans | 9,901,347 | 9,205,986 |
Total Loans, Current period charge-offs | 2,819 | |
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 1,003,376 | 2,140,609 |
Amortized Cost Basis by Origination Year 2022 | 1,928,647 | 1,562,527 |
Amortized Cost Basis by Origination Year 2021 | 1,366,308 | 642,649 |
Amortized Cost Basis by Origination Year 2020 | 571,225 | 267,444 |
Amortized Cost Basis by Origination Year 2019 | 237,312 | 96,916 |
Amortized Cost Basis by Origination Year Prior to 2019 | 136,948 | 86,787 |
Amortized Cost - Revolving Loans | 4,474,859 | 4,223,358 |
Amortized Cost - Revolving Loans Converted to Term Loans | 19,977 | 3,926 |
Total Loans | 9,738,652 | 9,024,216 |
Commercial and Industrial Portfolio [Member] | Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 8,489 | 13,630 |
Amortized Cost Basis by Origination Year 2022 | 7,792 | 5,415 |
Amortized Cost Basis by Origination Year 2021 | 4,403 | 2,046 |
Amortized Cost Basis by Origination Year 2020 | 1,392 | 1,985 |
Amortized Cost Basis by Origination Year 2019 | 1,785 | 396 |
Amortized Cost Basis by Origination Year Prior to 2019 | 424 | 541 |
Amortized Cost - Revolving Loans | 133,382 | 149,266 |
Amortized Cost - Revolving Loans Converted to Term Loans | 562 | |
Total Loans | 157,667 | 173,841 |
Commercial and Industrial Portfolio [Member] | Overdrafts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost - Revolving Loans | 5,028 | 7,929 |
Total Loans | 5,028 | 7,929 |
Specialty Lending Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 14,750 | 18,084 |
Amortized Cost Basis by Origination Year 2022 | 17,686 | 55,469 |
Amortized Cost Basis by Origination Year 2021 | 35,766 | 36,040 |
Amortized Cost Basis by Origination Year 2020 | 39,233 | |
Amortized Cost - Revolving Loans | 453,781 | 493,113 |
Total Loans | 561,216 | 602,706 |
Specialty Lending Portfolio [Member] | Asset-based Lending [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 14,750 | 18,084 |
Amortized Cost Basis by Origination Year 2022 | 17,686 | 55,469 |
Amortized Cost Basis by Origination Year 2021 | 35,766 | 36,040 |
Amortized Cost Basis by Origination Year 2020 | 39,233 | |
Amortized Cost - Revolving Loans | 453,781 | 493,113 |
Total Loans | 561,216 | 602,706 |
Commercial Real Estate Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 781,575 | 2,602,510 |
Amortized Cost Basis by Origination Year 2022 | 2,826,038 | 2,266,984 |
Amortized Cost Basis by Origination Year 2021 | 2,278,958 | 1,289,966 |
Amortized Cost Basis by Origination Year 2020 | 1,137,372 | 607,516 |
Amortized Cost Basis by Origination Year 2019 | 515,002 | 218,711 |
Amortized Cost Basis by Origination Year Prior to 2019 | 505,175 | 427,787 |
Amortized Cost Basis by Origination Year Prior to 2019, Current period charge-offs | 21 | |
Amortized Cost - Revolving Loans | 224,097 | 202,612 |
Total Loans | 8,268,217 | 7,616,086 |
Total Loans, Current period charge-offs | 21 | |
Commercial Real Estate Portfolio Segment | Equipment/Accounts Receivable/Inventory [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 359,552 | |
Amortized Cost - Revolving Loans Converted to Term Loans | 19,977 | |
Commercial Real Estate Portfolio Segment | Owner-occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 208,503 | 656,860 |
Amortized Cost Basis by Origination Year 2022 | 662,949 | 593,861 |
Amortized Cost Basis by Origination Year 2021 | 520,440 | 388,519 |
Amortized Cost Basis by Origination Year 2020 | 352,935 | 180,786 |
Amortized Cost Basis by Origination Year 2019 | 166,053 | 136,499 |
Amortized Cost Basis by Origination Year Prior to 2019 | 242,445 | 167,628 |
Amortized Cost - Revolving Loans | 6,290 | 8,685 |
Total Loans | 2,159,615 | 2,132,838 |
Commercial Real Estate Portfolio Segment | Non-owner-occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 359,552 | 1,128,978 |
Amortized Cost Basis by Origination Year 2022 | 996,559 | 855,508 |
Amortized Cost Basis by Origination Year 2021 | 835,238 | 568,489 |
Amortized Cost Basis by Origination Year 2020 | 545,178 | 368,203 |
Amortized Cost Basis by Origination Year 2019 | 306,423 | 64,915 |
Amortized Cost Basis by Origination Year Prior to 2019 | 233,759 | 229,826 |
Amortized Cost - Revolving Loans | 31,346 | 28,679 |
Total Loans | 3,308,055 | 3,244,598 |
Commercial Real Estate Portfolio Segment | Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 41,499 | 94,989 |
Amortized Cost Basis by Origination Year 2022 | 79,964 | 47,092 |
Amortized Cost Basis by Origination Year 2021 | 45,263 | 220,796 |
Amortized Cost Basis by Origination Year 2020 | 202,528 | 24,057 |
Amortized Cost Basis by Origination Year 2019 | 23,353 | 15,963 |
Amortized Cost Basis by Origination Year Prior to 2019 | 22,790 | 24,162 |
Amortized Cost - Revolving Loans | 107,601 | 121,054 |
Total Loans | 522,998 | 548,113 |
Commercial Real Estate Portfolio Segment | 5+ Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 1,391 | 30,920 |
Amortized Cost Basis by Origination Year 2022 | 27,712 | 35,869 |
Amortized Cost Basis by Origination Year 2021 | 35,926 | 68,996 |
Amortized Cost Basis by Origination Year 2020 | 32,428 | 18,978 |
Amortized Cost Basis by Origination Year 2019 | 18,484 | 1,334 |
Amortized Cost Basis by Origination Year Prior to 2019 | 6,042 | 5,776 |
Amortized Cost - Revolving Loans | 5,862 | 4,908 |
Total Loans | 127,845 | 166,781 |
Commercial Real Estate Portfolio Segment | 1-4 Family Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 37,615 | 61,943 |
Amortized Cost Basis by Origination Year 2022 | 54,463 | 15,217 |
Amortized Cost - Revolving Loans | 1,837 | 19 |
Total Loans | 93,915 | 77,179 |
Commercial Real Estate Portfolio Segment | General Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 133,015 | 628,820 |
Amortized Cost Basis by Origination Year 2022 | 1,004,391 | 719,437 |
Amortized Cost Basis by Origination Year 2021 | 842,091 | 43,166 |
Amortized Cost Basis by Origination Year 2020 | 4,303 | 15,492 |
Amortized Cost Basis by Origination Year 2019 | 689 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 139 | 395 |
Amortized Cost - Revolving Loans | 71,161 | 39,267 |
Total Loans | 2,055,789 | 1,446,577 |
Consumer Real Estate Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 285,304 | 642,430 |
Amortized Cost Basis by Origination Year 2022 | 616,204 | 756,807 |
Amortized Cost Basis by Origination Year 2022, Current period charge-offs | 21 | |
Amortized Cost Basis by Origination Year 2021 | 737,786 | 612,830 |
Amortized Cost Basis by Origination Year 2020 | 583,096 | 176,219 |
Amortized Cost Basis by Origination Year 2019 | 168,173 | 47,501 |
Amortized Cost Basis by Origination Year Prior to 2019 | 184,818 | 147,336 |
Amortized Cost Basis by Origination Year Prior to 2019, Current period charge-offs | 1,121 | |
Amortized Cost - Revolving Loans | 341,612 | 339,165 |
Amortized Cost - Revolving Loans Converted to Term Loans | 1,433 | 981 |
Total Loans | 2,918,426 | 2,723,269 |
Total Loans, Current period charge-offs | 1,142 | |
Consumer Real Estate Portfolio [Member] | HELOC [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 237 | |
Amortized Cost Basis by Origination Year 2022 | 707 | |
Amortized Cost Basis by Origination Year 2021 | 618 | |
Amortized Cost Basis by Origination Year 2020 | 526 | 224 |
Amortized Cost Basis by Origination Year 2019 | 52 | 654 |
Amortized Cost Basis by Origination Year Prior to 2019 | 5,454 | 5,389 |
Amortized Cost - Revolving Loans | 341,433 | 339,066 |
Amortized Cost - Revolving Loans Converted to Term Loans | 1,370 | 981 |
Total Loans | 349,542 | 347,169 |
Consumer Real Estate Portfolio [Member] | First Lien: 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 278,992 | 628,703 |
Amortized Cost Basis by Origination Year 2022 | 602,615 | 748,362 |
Amortized Cost Basis by Origination Year 2021 | 729,894 | 607,105 |
Amortized Cost Basis by Origination Year 2020 | 578,067 | 173,466 |
Amortized Cost Basis by Origination Year 2019 | 165,771 | 45,907 |
Amortized Cost Basis by Origination Year Prior to 2019 | 177,351 | 140,443 |
Amortized Cost - Revolving Loans | 16 | 12 |
Amortized Cost - Revolving Loans Converted to Term Loans | 63 | |
Total Loans | 2,532,769 | 2,343,998 |
Consumer Real Estate Portfolio [Member] | Junior Lien: 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 6,312 | 13,490 |
Amortized Cost Basis by Origination Year 2022 | 12,882 | 8,445 |
Amortized Cost Basis by Origination Year 2021 | 7,892 | 5,107 |
Amortized Cost Basis by Origination Year 2020 | 4,503 | 2,529 |
Amortized Cost Basis by Origination Year 2019 | 2,350 | 940 |
Amortized Cost Basis by Origination Year Prior to 2019 | 2,013 | 1,504 |
Amortized Cost - Revolving Loans | 163 | 87 |
Total Loans | 36,115 | 32,102 |
Consumer Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 9,134 | 35,897 |
Amortized Cost Basis by Origination Year 2023, Current period charge-offs | 67 | |
Amortized Cost Basis by Origination Year 2022 | 31,631 | 34,878 |
Amortized Cost Basis by Origination Year 2021 | 32,116 | 5,551 |
Amortized Cost Basis by Origination Year 2020 | 3,814 | 3,619 |
Amortized Cost Basis by Origination Year 2020, Current period charge-offs | 2 | |
Amortized Cost Basis by Origination Year 2019 | 2,343 | 1,468 |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,633 | 750 |
Amortized Cost Basis by Origination Year Prior to 2019, Current period charge-offs | 3 | |
Amortized Cost - Revolving Loans | 50,388 | 62,100 |
Amortized Cost - Revolving Loans, Current period charge-offs | 580 | |
Amortized Cost - Revolving Loans Converted to Term Loans | 233 | 1,403 |
Total Loans | 131,292 | 145,666 |
Total Loans, Current period charge-offs | 680 | |
Consumer Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2022, Current period charge-offs | 8 | |
Amortized Cost Basis by Origination Year 2021, Current period charge-offs | 20 | |
Consumer Portfolio [Member] | Revolving Line [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 467 | |
Amortized Cost Basis by Origination Year 2022 | 584 | |
Amortized Cost - Revolving Loans | 47,931 | 58,133 |
Amortized Cost - Revolving Loans Converted to Term Loans | 233 | 1,403 |
Total Loans | 48,164 | 60,587 |
Consumer Portfolio [Member] | Auto [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 5,339 | 9,124 |
Amortized Cost Basis by Origination Year 2022 | 7,538 | 6,543 |
Amortized Cost Basis by Origination Year 2021 | 5,154 | 4,455 |
Amortized Cost Basis by Origination Year 2020 | 3,133 | 2,743 |
Amortized Cost Basis by Origination Year 2019 | 1,782 | 335 |
Amortized Cost Basis by Origination Year Prior to 2019 | 269 | 159 |
Total Loans | 23,215 | 23,359 |
Consumer Portfolio [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 3,795 | 26,306 |
Amortized Cost Basis by Origination Year 2022 | 24,093 | 27,751 |
Amortized Cost Basis by Origination Year 2021 | 26,962 | 1,096 |
Amortized Cost Basis by Origination Year 2020 | 681 | 876 |
Amortized Cost Basis by Origination Year 2019 | 561 | 1,133 |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,364 | 591 |
Amortized Cost - Revolving Loans | 2,457 | 3,967 |
Total Loans | 59,913 | 61,720 |
Credit Cards Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost - Revolving Loans | 445,152 | 431,672 |
Amortized Cost - Revolving Loans, Current period charge-offs | 3,670 | |
Total Loans | 445,152 | 431,672 |
Total Loans, Current period charge-offs | 3,670 | |
Credit Cards Portfolio [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost - Revolving Loans | 200,986 | 200,348 |
Total Loans | 200,986 | 200,348 |
Credit Cards Portfolio [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost - Revolving Loans | 244,166 | 231,324 |
Total Loans | 244,166 | 231,324 |
Leases and Other Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 24,057 | 125,095 |
Amortized Cost Basis by Origination Year 2022 | 101,609 | 34,282 |
Amortized Cost Basis by Origination Year 2021 | 18,152 | 22,552 |
Amortized Cost Basis by Origination Year 2020 | 18,114 | 32,767 |
Amortized Cost Basis by Origination Year 2019 | 32,914 | 17,764 |
Amortized Cost Basis by Origination Year Prior to 2019 | 15,556 | 2,290 |
Amortized Cost - Revolving Loans | 47,490 | 71,054 |
Total Loans | 257,892 | 305,804 |
Leases and Other Portfolio [Member] | Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2020 | 712 | |
Amortized Cost Basis by Origination Year 2019 | 712 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,190 | 1,224 |
Total Loans | 1,902 | 1,936 |
Leases and Other Portfolio [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 24,057 | 125,095 |
Amortized Cost Basis by Origination Year 2022 | 101,609 | 34,282 |
Amortized Cost Basis by Origination Year 2021 | 18,152 | 22,552 |
Amortized Cost Basis by Origination Year 2020 | 18,114 | 32,055 |
Amortized Cost Basis by Origination Year 2019 | 32,202 | 17,764 |
Amortized Cost Basis by Origination Year Prior to 2019 | 14,366 | 1,066 |
Amortized Cost - Revolving Loans | 47,490 | 71,054 |
Total Loans | $ 255,990 | $ 303,868 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses - Summary of Amortized Cost Balance by Collateral Type and Risk Rating (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | $ 2,126,685 | $ 5,578,255 |
Amortized Cost Basis by Origination Year 2022 | 5,529,607 | 4,716,362 |
Amortized Cost Basis by Origination Year 2021 | 4,473,489 | 2,611,634 |
Amortized Cost Basis by Origination Year 2020 | 2,354,246 | 1,089,550 |
Amortized Cost Basis by Origination Year 2019 | 957,529 | 382,756 |
Amortized Cost Basis by Origination Year Prior to 2019 | 844,554 | 665,491 |
Amortized Cost - Revolving Loans | 6,175,789 | 5,980,269 |
Amortized Cost - Revolving Loans Converted to Term Loans | 21,643 | 6,872 |
Total Loans | 22,483,542 | 21,031,189 |
Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 22,441,318 | 21,001,528 |
Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 42,224 | 29,661 |
Commercial and Industrial Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 1,011,865 | 2,154,239 |
Amortized Cost Basis by Origination Year 2022 | 1,936,439 | 1,567,942 |
Amortized Cost Basis by Origination Year 2021 | 1,370,711 | 644,695 |
Amortized Cost Basis by Origination Year 2020 | 572,617 | 269,429 |
Amortized Cost Basis by Origination Year 2019 | 239,097 | 97,312 |
Amortized Cost Basis by Origination Year Prior to 2019 | 137,372 | 87,328 |
Amortized Cost - Revolving Loans | 4,613,269 | 4,380,553 |
Amortized Cost - Revolving Loans Converted to Term Loans | 19,977 | 4,488 |
Total Loans | 9,901,347 | 9,205,986 |
Commercial and Industrial Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 9,879,649 | 9,192,172 |
Commercial and Industrial Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 21,698 | 13,814 |
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 1,003,376 | 2,140,609 |
Amortized Cost Basis by Origination Year 2022 | 1,928,647 | 1,562,527 |
Amortized Cost Basis by Origination Year 2021 | 1,366,308 | 642,649 |
Amortized Cost Basis by Origination Year 2020 | 571,225 | 267,444 |
Amortized Cost Basis by Origination Year 2019 | 237,312 | 96,916 |
Amortized Cost Basis by Origination Year Prior to 2019 | 136,948 | 86,787 |
Amortized Cost - Revolving Loans | 4,474,859 | 4,223,358 |
Amortized Cost - Revolving Loans Converted to Term Loans | 19,977 | 3,926 |
Total Loans | 9,738,652 | 9,024,216 |
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 978,049 | 2,079,002 |
Amortized Cost Basis by Origination Year 2022 | 1,828,379 | 1,466,120 |
Amortized Cost Basis by Origination Year 2021 | 1,249,487 | 588,562 |
Amortized Cost Basis by Origination Year 2020 | 524,956 | 246,387 |
Amortized Cost Basis by Origination Year 2019 | 209,725 | 90,656 |
Amortized Cost Basis by Origination Year Prior to 2019 | 129,140 | 83,054 |
Amortized Cost - Revolving Loans | 4,083,086 | 3,879,709 |
Amortized Cost - Revolving Loans Converted to Term Loans | 19,300 | 3,633 |
Total Loans | 9,022,122 | 8,437,123 |
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | Watch-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 5,398 | 28,570 |
Amortized Cost Basis by Origination Year 2022 | 88,073 | 78,523 |
Amortized Cost Basis by Origination Year 2021 | 97,797 | 52,696 |
Amortized Cost Basis by Origination Year 2020 | 43,890 | 7,493 |
Amortized Cost Basis by Origination Year 2019 | 16,119 | 3,617 |
Amortized Cost Basis by Origination Year Prior to 2019 | 3,166 | 2,275 |
Amortized Cost - Revolving Loans | 264,482 | 213,871 |
Amortized Cost - Revolving Loans Converted to Term Loans | 340 | |
Total Loans | 519,265 | 387,045 |
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 2,558 | 4,072 |
Amortized Cost Basis by Origination Year 2022 | 2,573 | 5,637 |
Amortized Cost Basis by Origination Year 2021 | 7,201 | 1,178 |
Amortized Cost Basis by Origination Year 2020 | 1,041 | |
Amortized Cost Basis by Origination Year 2019 | 277 | 1,817 |
Amortized Cost Basis by Origination Year Prior to 2019 | 2,570 | 899 |
Amortized Cost - Revolving Loans | 22,568 | 34,631 |
Total Loans | 38,788 | 48,234 |
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 14,053 | 26,698 |
Amortized Cost Basis by Origination Year 2022 | 9,622 | 12,247 |
Amortized Cost Basis by Origination Year 2021 | 11,323 | 213 |
Amortized Cost Basis by Origination Year 2020 | 1,338 | 13,564 |
Amortized Cost Basis by Origination Year 2019 | 11,191 | 826 |
Amortized Cost Basis by Origination Year Prior to 2019 | 2,072 | 559 |
Amortized Cost - Revolving Loans | 103,152 | 92,352 |
Amortized Cost - Revolving Loans Converted to Term Loans | 337 | 293 |
Total Loans | 153,088 | 146,752 |
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 3,318 | 2,267 |
Amortized Cost Basis by Origination Year 2021 | 500 | |
Amortized Cost - Revolving Loans | 1,571 | 2,795 |
Total Loans | 5,389 | 5,062 |
Commercial and Industrial Portfolio [Member] | Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 8,489 | 13,630 |
Amortized Cost Basis by Origination Year 2022 | 7,792 | 5,415 |
Amortized Cost Basis by Origination Year 2021 | 4,403 | 2,046 |
Amortized Cost Basis by Origination Year 2020 | 1,392 | 1,985 |
Amortized Cost Basis by Origination Year 2019 | 1,785 | 396 |
Amortized Cost Basis by Origination Year Prior to 2019 | 424 | 541 |
Amortized Cost - Revolving Loans | 133,382 | 149,266 |
Amortized Cost - Revolving Loans Converted to Term Loans | 562 | |
Total Loans | 157,667 | 173,841 |
Commercial and Industrial Portfolio [Member] | Agriculture [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 8,097 | 12,252 |
Amortized Cost Basis by Origination Year 2022 | 6,514 | 5,351 |
Amortized Cost Basis by Origination Year 2021 | 4,403 | 1,693 |
Amortized Cost Basis by Origination Year 2020 | 1,251 | 1,985 |
Amortized Cost Basis by Origination Year 2019 | 1,785 | 396 |
Amortized Cost Basis by Origination Year Prior to 2019 | 424 | 541 |
Amortized Cost - Revolving Loans | 125,954 | 137,759 |
Total Loans | 148,428 | 159,977 |
Commercial and Industrial Portfolio [Member] | Agriculture [Member] | Watch-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 550 | |
Amortized Cost Basis by Origination Year 2021 | 206 | |
Amortized Cost - Revolving Loans | 4,365 | 8,512 |
Amortized Cost - Revolving Loans Converted to Term Loans | 562 | |
Total Loans | 4,365 | 9,830 |
Commercial and Industrial Portfolio [Member] | Agriculture [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 828 | |
Amortized Cost Basis by Origination Year 2022 | 728 | 64 |
Amortized Cost Basis by Origination Year 2021 | 147 | |
Amortized Cost - Revolving Loans | 178 | 1,539 |
Total Loans | 906 | 2,578 |
Commercial and Industrial Portfolio [Member] | Agriculture [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 392 | |
Amortized Cost Basis by Origination Year 2022 | 550 | |
Amortized Cost Basis by Origination Year 2020 | 141 | |
Amortized Cost - Revolving Loans | 2,885 | 1,456 |
Total Loans | 3,968 | 1,456 |
Specialty Lending Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 14,750 | 18,084 |
Amortized Cost Basis by Origination Year 2022 | 17,686 | 55,469 |
Amortized Cost Basis by Origination Year 2021 | 35,766 | 36,040 |
Amortized Cost Basis by Origination Year 2020 | 39,233 | |
Amortized Cost - Revolving Loans | 453,781 | 493,113 |
Total Loans | 561,216 | 602,706 |
Specialty Lending Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 561,216 | 602,706 |
Specialty Lending Portfolio [Member] | Asset-based [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 14,750 | 18,084 |
Amortized Cost Basis by Origination Year 2022 | 17,686 | 55,469 |
Amortized Cost Basis by Origination Year 2021 | 35,766 | 36,040 |
Amortized Cost Basis by Origination Year 2020 | 39,233 | |
Amortized Cost - Revolving Loans | 453,781 | 493,113 |
Total Loans | 561,216 | 602,706 |
Specialty Lending Portfolio [Member] | Asset-based [Member] | In-margin [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 561,216 | 602,706 |
Commercial Real Estate Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 781,575 | 2,602,510 |
Amortized Cost Basis by Origination Year 2022 | 2,826,038 | 2,266,984 |
Amortized Cost Basis by Origination Year 2021 | 2,278,958 | 1,289,966 |
Amortized Cost Basis by Origination Year 2020 | 1,137,372 | 607,516 |
Amortized Cost Basis by Origination Year 2019 | 515,002 | 218,711 |
Amortized Cost Basis by Origination Year Prior to 2019 | 505,175 | 427,787 |
Amortized Cost - Revolving Loans | 224,097 | 202,612 |
Total Loans | 8,268,217 | 7,616,086 |
Commercial Real Estate Portfolio Segment | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 8,262,983 | 7,611,223 |
Commercial Real Estate Portfolio Segment | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,234 | 4,863 |
Commercial Real Estate Portfolio Segment | Equipment/Accounts Receivable/Inventory [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 359,552 | |
Amortized Cost - Revolving Loans Converted to Term Loans | 19,977 | |
Commercial Real Estate Portfolio Segment | Owner-occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 208,503 | 656,860 |
Amortized Cost Basis by Origination Year 2022 | 662,949 | 593,861 |
Amortized Cost Basis by Origination Year 2021 | 520,440 | 388,519 |
Amortized Cost Basis by Origination Year 2020 | 352,935 | 180,786 |
Amortized Cost Basis by Origination Year 2019 | 166,053 | 136,499 |
Amortized Cost Basis by Origination Year Prior to 2019 | 242,445 | 167,628 |
Amortized Cost - Revolving Loans | 6,290 | 8,685 |
Total Loans | 2,159,615 | 2,132,838 |
Commercial Real Estate Portfolio Segment | Owner-occupied [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 208,284 | 628,858 |
Amortized Cost Basis by Origination Year 2022 | 637,473 | 559,067 |
Amortized Cost Basis by Origination Year 2021 | 485,221 | 364,760 |
Amortized Cost Basis by Origination Year 2020 | 333,625 | 149,183 |
Amortized Cost Basis by Origination Year 2019 | 142,939 | 133,339 |
Amortized Cost Basis by Origination Year Prior to 2019 | 228,307 | 162,412 |
Amortized Cost - Revolving Loans | 6,290 | 7,850 |
Total Loans | 2,042,139 | 2,005,469 |
Commercial Real Estate Portfolio Segment | Owner-occupied [Member] | Watch-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 219 | 19,405 |
Amortized Cost Basis by Origination Year 2022 | 7,509 | 32,581 |
Amortized Cost Basis by Origination Year 2021 | 22,085 | 17,061 |
Amortized Cost Basis by Origination Year 2020 | 14,721 | 9,785 |
Amortized Cost Basis by Origination Year 2019 | 12,031 | 2,664 |
Amortized Cost Basis by Origination Year Prior to 2019 | 3,778 | 2,121 |
Total Loans | 60,343 | 83,617 |
Commercial Real Estate Portfolio Segment | Owner-occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 5,435 | |
Amortized Cost Basis by Origination Year 2022 | 15,338 | 2,213 |
Amortized Cost Basis by Origination Year 2021 | 13,134 | 5,120 |
Amortized Cost Basis by Origination Year 2020 | 3,777 | 18,946 |
Amortized Cost Basis by Origination Year 2019 | 4,128 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 6,830 | |
Amortized Cost - Revolving Loans | 835 | |
Total Loans | 43,207 | 32,549 |
Commercial Real Estate Portfolio Segment | Owner-occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 3,162 | |
Amortized Cost Basis by Origination Year 2022 | 2,629 | |
Amortized Cost Basis by Origination Year 2021 | 1,578 | |
Amortized Cost Basis by Origination Year 2020 | 812 | 2,872 |
Amortized Cost Basis by Origination Year 2019 | 6,955 | 496 |
Amortized Cost Basis by Origination Year Prior to 2019 | 3,530 | 3,095 |
Total Loans | 13,926 | 11,203 |
Commercial Real Estate Portfolio Segment | Non-owner-occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 359,552 | 1,128,978 |
Amortized Cost Basis by Origination Year 2022 | 996,559 | 855,508 |
Amortized Cost Basis by Origination Year 2021 | 835,238 | 568,489 |
Amortized Cost Basis by Origination Year 2020 | 545,178 | 368,203 |
Amortized Cost Basis by Origination Year 2019 | 306,423 | 64,915 |
Amortized Cost Basis by Origination Year Prior to 2019 | 233,759 | 229,826 |
Amortized Cost - Revolving Loans | 31,346 | 28,679 |
Total Loans | 3,308,055 | 3,244,598 |
Commercial Real Estate Portfolio Segment | Non-owner-occupied [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 323,683 | 1,075,444 |
Amortized Cost Basis by Origination Year 2022 | 879,026 | 810,926 |
Amortized Cost Basis by Origination Year 2021 | 740,654 | 568,489 |
Amortized Cost Basis by Origination Year 2020 | 545,178 | 356,896 |
Amortized Cost Basis by Origination Year 2019 | 218,091 | 64,915 |
Amortized Cost Basis by Origination Year Prior to 2019 | 223,825 | 214,635 |
Amortized Cost - Revolving Loans | 31,346 | 28,679 |
Total Loans | 2,961,803 | 3,119,984 |
Commercial Real Estate Portfolio Segment | Non-owner-occupied [Member] | Watch-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 35,869 | 53,534 |
Amortized Cost Basis by Origination Year 2022 | 92,999 | 44,582 |
Amortized Cost Basis by Origination Year 2021 | 69,886 | |
Amortized Cost Basis by Origination Year 2020 | 11,307 | |
Amortized Cost Basis by Origination Year 2019 | 88,332 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 5,071 | |
Total Loans | 287,086 | 114,494 |
Commercial Real Estate Portfolio Segment | Non-owner-occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 24,534 | |
Amortized Cost Basis by Origination Year 2021 | 24,698 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 10,109 | |
Total Loans | 49,232 | 10,109 |
Commercial Real Estate Portfolio Segment | Non-owner-occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year Prior to 2019 | 9,934 | |
Total Loans | 9,934 | |
Commercial Real Estate Portfolio Segment | Non-owner-occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year Prior to 2019 | 11 | |
Total Loans | 11 | |
Commercial Real Estate Portfolio Segment | Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 41,499 | 94,989 |
Amortized Cost Basis by Origination Year 2022 | 79,964 | 47,092 |
Amortized Cost Basis by Origination Year 2021 | 45,263 | 220,796 |
Amortized Cost Basis by Origination Year 2020 | 202,528 | 24,057 |
Amortized Cost Basis by Origination Year 2019 | 23,353 | 15,963 |
Amortized Cost Basis by Origination Year Prior to 2019 | 22,790 | 24,162 |
Amortized Cost - Revolving Loans | 107,601 | 121,054 |
Total Loans | 522,998 | 548,113 |
Commercial Real Estate Portfolio Segment | Farmland [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 29,654 | 62,357 |
Amortized Cost Basis by Origination Year 2022 | 50,339 | 36,698 |
Amortized Cost Basis by Origination Year 2021 | 35,084 | 218,704 |
Amortized Cost Basis by Origination Year 2020 | 201,064 | 17,563 |
Amortized Cost Basis by Origination Year 2019 | 17,004 | 2,830 |
Amortized Cost Basis by Origination Year Prior to 2019 | 21,814 | 20,285 |
Amortized Cost - Revolving Loans | 99,613 | 113,385 |
Total Loans | 454,572 | 471,822 |
Commercial Real Estate Portfolio Segment | Farmland [Member] | Watch-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 20,327 | |
Amortized Cost Basis by Origination Year 2022 | 18,328 | 6,454 |
Amortized Cost Basis by Origination Year 2021 | 6,306 | 1,055 |
Amortized Cost Basis by Origination Year 2020 | 101 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 437 | 2,559 |
Amortized Cost - Revolving Loans | 714 | 395 |
Total Loans | 25,785 | 30,891 |
Commercial Real Estate Portfolio Segment | Farmland [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 5,505 | |
Amortized Cost Basis by Origination Year 2022 | 5,505 | |
Amortized Cost Basis by Origination Year 2021 | 1,001 | |
Amortized Cost Basis by Origination Year 2020 | 380 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 539 | |
Total Loans | 6,424 | 6,506 |
Commercial Real Estate Portfolio Segment | Farmland [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 11,845 | 6,800 |
Amortized Cost Basis by Origination Year 2022 | 5,792 | 3,940 |
Amortized Cost Basis by Origination Year 2021 | 3,873 | 36 |
Amortized Cost Basis by Origination Year 2020 | 1,084 | 6,393 |
Amortized Cost Basis by Origination Year 2019 | 6,349 | 13,133 |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,318 | |
Amortized Cost - Revolving Loans | 7,274 | 7,274 |
Total Loans | 36,217 | 38,894 |
Commercial Real Estate Portfolio Segment | 5+ Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 1,391 | 30,920 |
Amortized Cost Basis by Origination Year 2022 | 27,712 | 35,869 |
Amortized Cost Basis by Origination Year 2021 | 35,926 | 68,996 |
Amortized Cost Basis by Origination Year 2020 | 32,428 | 18,978 |
Amortized Cost Basis by Origination Year 2019 | 18,484 | 1,334 |
Amortized Cost Basis by Origination Year Prior to 2019 | 6,042 | 5,776 |
Amortized Cost - Revolving Loans | 5,862 | 4,908 |
Total Loans | 127,845 | 166,781 |
Commercial Real Estate Portfolio Segment | 5+ Multi-family [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 1,391 | 30,920 |
Amortized Cost Basis by Origination Year 2022 | 27,712 | 35,869 |
Amortized Cost Basis by Origination Year 2021 | 35,926 | 68,996 |
Amortized Cost Basis by Origination Year 2020 | 32,428 | 18,978 |
Amortized Cost Basis by Origination Year 2019 | 18,484 | 1,334 |
Amortized Cost Basis by Origination Year Prior to 2019 | 6,042 | 5,776 |
Amortized Cost - Revolving Loans | 5,862 | 4,908 |
Total Loans | 127,845 | 166,781 |
Commercial Real Estate Portfolio Segment | 1-4 Family Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 37,615 | 61,943 |
Amortized Cost Basis by Origination Year 2022 | 54,463 | 15,217 |
Amortized Cost - Revolving Loans | 1,837 | 19 |
Total Loans | 93,915 | 77,179 |
Commercial Real Estate Portfolio Segment | 1-4 Family Construction [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 37,615 | 61,943 |
Amortized Cost Basis by Origination Year 2022 | 54,463 | 15,217 |
Amortized Cost - Revolving Loans | 1,837 | 19 |
Total Loans | 93,915 | 77,179 |
Commercial Real Estate Portfolio Segment | General Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 133,015 | 628,820 |
Amortized Cost Basis by Origination Year 2022 | 1,004,391 | 719,437 |
Amortized Cost Basis by Origination Year 2021 | 842,091 | 43,166 |
Amortized Cost Basis by Origination Year 2020 | 4,303 | 15,492 |
Amortized Cost Basis by Origination Year 2019 | 689 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 139 | 395 |
Amortized Cost - Revolving Loans | 71,161 | 39,267 |
Total Loans | 2,055,789 | 1,446,577 |
Commercial Real Estate Portfolio Segment | General Construction [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 125,896 | 628,479 |
Amortized Cost Basis by Origination Year 2022 | 1,004,391 | 699,698 |
Amortized Cost Basis by Origination Year 2021 | 787,487 | 43,166 |
Amortized Cost Basis by Origination Year 2020 | 4,303 | 15,384 |
Amortized Cost Basis by Origination Year 2019 | 672 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 125 | 380 |
Amortized Cost - Revolving Loans | 71,161 | 39,267 |
Total Loans | 1,994,035 | 1,426,374 |
Commercial Real Estate Portfolio Segment | General Construction [Member] | Watch-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 742 | 341 |
Amortized Cost Basis by Origination Year 2021 | 46,506 | |
Amortized Cost Basis by Origination Year 2020 | 22 | |
Amortized Cost Basis by Origination Year 2019 | 17 | |
Total Loans | 47,265 | 363 |
Commercial Real Estate Portfolio Segment | General Construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 6,294 | |
Amortized Cost Basis by Origination Year 2022 | 8,340 | |
Total Loans | 6,294 | 8,340 |
Commercial Real Estate Portfolio Segment | General Construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 11,399 | |
Amortized Cost Basis by Origination Year 2021 | 8,098 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 14 | 15 |
Total Loans | 8,112 | 11,414 |
Commercial Real Estate Portfolio Segment | General Construction [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 83 | |
Amortized Cost Basis by Origination Year 2020 | 86 | |
Total Loans | 83 | 86 |
Consumer Real Estate Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 285,304 | 642,430 |
Amortized Cost Basis by Origination Year 2022 | 616,204 | 756,807 |
Amortized Cost Basis by Origination Year 2021 | 737,786 | 612,830 |
Amortized Cost Basis by Origination Year 2020 | 583,096 | 176,219 |
Amortized Cost Basis by Origination Year 2019 | 168,173 | 47,501 |
Amortized Cost Basis by Origination Year Prior to 2019 | 184,818 | 147,336 |
Amortized Cost - Revolving Loans | 341,612 | 339,165 |
Amortized Cost - Revolving Loans Converted to Term Loans | 1,433 | 981 |
Total Loans | 2,918,426 | 2,723,269 |
Consumer Real Estate Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 2,913,126 | 2,718,377 |
Consumer Real Estate Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,300 | 4,892 |
Consumer Real Estate Portfolio [Member] | HELOC [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 237 | |
Amortized Cost Basis by Origination Year 2022 | 707 | |
Amortized Cost Basis by Origination Year 2021 | 618 | |
Amortized Cost Basis by Origination Year 2020 | 526 | 224 |
Amortized Cost Basis by Origination Year 2019 | 52 | 654 |
Amortized Cost Basis by Origination Year Prior to 2019 | 5,454 | 5,389 |
Amortized Cost - Revolving Loans | 341,433 | 339,066 |
Amortized Cost - Revolving Loans Converted to Term Loans | 1,370 | 981 |
Total Loans | 349,542 | 347,169 |
Consumer Real Estate Portfolio [Member] | HELOC [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 120 | |
Amortized Cost Basis by Origination Year 2022 | 600 | |
Amortized Cost Basis by Origination Year 2021 | 592 | |
Amortized Cost Basis by Origination Year 2020 | 504 | 90 |
Amortized Cost Basis by Origination Year 2019 | 52 | 148 |
Amortized Cost Basis by Origination Year Prior to 2019 | 3,899 | 3,919 |
Amortized Cost - Revolving Loans | 341,359 | 338,979 |
Amortized Cost - Revolving Loans Converted to Term Loans | 1,217 | 759 |
Total Loans | 347,631 | 344,607 |
Consumer Real Estate Portfolio [Member] | HELOC [Member] | Non-performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 117 | |
Amortized Cost Basis by Origination Year 2022 | 107 | |
Amortized Cost Basis by Origination Year 2021 | 26 | |
Amortized Cost Basis by Origination Year 2020 | 22 | 134 |
Amortized Cost Basis by Origination Year 2019 | 506 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,555 | 1,470 |
Amortized Cost - Revolving Loans | 74 | 87 |
Amortized Cost - Revolving Loans Converted to Term Loans | 153 | 222 |
Total Loans | 1,911 | 2,562 |
Consumer Real Estate Portfolio [Member] | First Lien: 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 278,992 | 628,703 |
Amortized Cost Basis by Origination Year 2022 | 602,615 | 748,362 |
Amortized Cost Basis by Origination Year 2021 | 729,894 | 607,105 |
Amortized Cost Basis by Origination Year 2020 | 578,067 | 173,466 |
Amortized Cost Basis by Origination Year 2019 | 165,771 | 45,907 |
Amortized Cost Basis by Origination Year Prior to 2019 | 177,351 | 140,443 |
Amortized Cost - Revolving Loans | 16 | 12 |
Amortized Cost - Revolving Loans Converted to Term Loans | 63 | |
Total Loans | 2,532,769 | 2,343,998 |
Consumer Real Estate Portfolio [Member] | First Lien: 1-4 Family [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 278,992 | 628,678 |
Amortized Cost Basis by Origination Year 2022 | 601,893 | 748,269 |
Amortized Cost Basis by Origination Year 2021 | 729,558 | 607,055 |
Amortized Cost Basis by Origination Year 2020 | 578,010 | 173,061 |
Amortized Cost Basis by Origination Year 2019 | 165,364 | 45,907 |
Amortized Cost Basis by Origination Year Prior to 2019 | 175,719 | 138,764 |
Amortized Cost - Revolving Loans | 16 | 12 |
Amortized Cost - Revolving Loans Converted to Term Loans | 63 | |
Total Loans | 2,529,615 | 2,341,746 |
Consumer Real Estate Portfolio [Member] | First Lien: 1-4 Family [Member] | Non-performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 25 | |
Amortized Cost Basis by Origination Year 2022 | 722 | 93 |
Amortized Cost Basis by Origination Year 2021 | 336 | 50 |
Amortized Cost Basis by Origination Year 2020 | 57 | 405 |
Amortized Cost Basis by Origination Year 2019 | 407 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,632 | 1,679 |
Total Loans | 3,154 | 2,252 |
Consumer Real Estate Portfolio [Member] | Junior Lien: 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 6,312 | 13,490 |
Amortized Cost Basis by Origination Year 2022 | 12,882 | 8,445 |
Amortized Cost Basis by Origination Year 2021 | 7,892 | 5,107 |
Amortized Cost Basis by Origination Year 2020 | 4,503 | 2,529 |
Amortized Cost Basis by Origination Year 2019 | 2,350 | 940 |
Amortized Cost Basis by Origination Year Prior to 2019 | 2,013 | 1,504 |
Amortized Cost - Revolving Loans | 163 | 87 |
Total Loans | 36,115 | 32,102 |
Consumer Real Estate Portfolio [Member] | Junior Lien: 1-4 Family [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 6,312 | 13,490 |
Amortized Cost Basis by Origination Year 2022 | 12,882 | 8,445 |
Amortized Cost Basis by Origination Year 2021 | 7,892 | 5,107 |
Amortized Cost Basis by Origination Year 2020 | 4,503 | 2,529 |
Amortized Cost Basis by Origination Year 2019 | 2,350 | 940 |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,932 | 1,437 |
Amortized Cost - Revolving Loans | 163 | 87 |
Total Loans | 36,034 | 32,035 |
Consumer Real Estate Portfolio [Member] | Junior Lien: 1-4 Family [Member] | Non-performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year Prior to 2019 | 81 | 67 |
Total Loans | 81 | 67 |
Consumer Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 9,134 | 35,897 |
Amortized Cost Basis by Origination Year 2022 | 31,631 | 34,878 |
Amortized Cost Basis by Origination Year 2021 | 32,116 | 5,551 |
Amortized Cost Basis by Origination Year 2020 | 3,814 | 3,619 |
Amortized Cost Basis by Origination Year 2019 | 2,343 | 1,468 |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,633 | 750 |
Amortized Cost - Revolving Loans | 50,388 | 62,100 |
Amortized Cost - Revolving Loans Converted to Term Loans | 233 | 1,403 |
Total Loans | 131,292 | 145,666 |
Consumer Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 131,165 | 144,972 |
Consumer Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 127 | 694 |
Consumer Portfolio [Member] | Revolving Line [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 467 | |
Amortized Cost Basis by Origination Year 2022 | 584 | |
Amortized Cost - Revolving Loans | 47,931 | 58,133 |
Amortized Cost - Revolving Loans Converted to Term Loans | 233 | 1,403 |
Total Loans | 48,164 | 60,587 |
Consumer Portfolio [Member] | Revolving Line [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 467 | |
Amortized Cost Basis by Origination Year 2022 | 584 | |
Amortized Cost - Revolving Loans | 47,931 | 58,133 |
Amortized Cost - Revolving Loans Converted to Term Loans | 233 | 1,403 |
Total Loans | 48,164 | 60,587 |
Consumer Portfolio [Member] | Auto [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 5,339 | 9,124 |
Amortized Cost Basis by Origination Year 2022 | 7,538 | 6,543 |
Amortized Cost Basis by Origination Year 2021 | 5,154 | 4,455 |
Amortized Cost Basis by Origination Year 2020 | 3,133 | 2,743 |
Amortized Cost Basis by Origination Year 2019 | 1,782 | 335 |
Amortized Cost Basis by Origination Year Prior to 2019 | 269 | 159 |
Total Loans | 23,215 | 23,359 |
Consumer Portfolio [Member] | Auto [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 5,339 | 9,124 |
Amortized Cost Basis by Origination Year 2022 | 7,538 | 6,498 |
Amortized Cost Basis by Origination Year 2021 | 5,138 | 4,454 |
Amortized Cost Basis by Origination Year 2020 | 3,133 | 2,743 |
Amortized Cost Basis by Origination Year 2019 | 1,782 | 335 |
Amortized Cost Basis by Origination Year Prior to 2019 | 262 | 159 |
Total Loans | 23,192 | 23,313 |
Consumer Portfolio [Member] | Auto [Member] | Non-performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 45 | |
Amortized Cost Basis by Origination Year 2021 | 16 | 1 |
Amortized Cost Basis by Origination Year Prior to 2019 | 7 | |
Total Loans | 23 | 46 |
Consumer Portfolio [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 3,795 | 26,306 |
Amortized Cost Basis by Origination Year 2022 | 24,093 | 27,751 |
Amortized Cost Basis by Origination Year 2021 | 26,962 | 1,096 |
Amortized Cost Basis by Origination Year 2020 | 681 | 876 |
Amortized Cost Basis by Origination Year 2019 | 561 | 1,133 |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,364 | 591 |
Amortized Cost - Revolving Loans | 2,457 | 3,967 |
Total Loans | 59,913 | 61,720 |
Consumer Portfolio [Member] | Other [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 3,795 | 26,291 |
Amortized Cost Basis by Origination Year 2022 | 24,078 | 27,751 |
Amortized Cost Basis by Origination Year 2021 | 26,962 | 1,096 |
Amortized Cost Basis by Origination Year 2020 | 681 | 876 |
Amortized Cost Basis by Origination Year 2019 | 561 | 1,133 |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,364 | 591 |
Amortized Cost - Revolving Loans | 2,457 | 3,967 |
Total Loans | 59,898 | 61,705 |
Consumer Portfolio [Member] | Other [Member] | Non-performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 15 | |
Amortized Cost Basis by Origination Year 2022 | 15 | |
Total Loans | 15 | 15 |
Credit Cards Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost - Revolving Loans | 445,152 | 431,672 |
Total Loans | 445,152 | 431,672 |
Credit Cards Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 435,287 | 426,298 |
Credit Cards Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 9,865 | 5,374 |
Credit Cards Portfolio [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost - Revolving Loans | 200,986 | 200,348 |
Total Loans | 200,986 | 200,348 |
Credit Cards Portfolio [Member] | Consumer [Member] | Transactor Accounts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 73,617 | 73,670 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, Less than 600 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 6,800 | 4,684 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 600-619 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 3,281 | 2,515 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 620-639 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,306 | 4,959 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 640-659 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 9,525 | 8,655 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 660-679 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 10,120 | 9,593 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 680-699 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 11,564 | 12,023 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 700-719 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 14,398 | 14,098 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 720-739 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 14,104 | 15,036 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 740-759 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 12,594 | 13,638 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 760-779 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 13,843 | 13,768 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 780-799 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 12,728 | 13,172 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 800-819 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 8,344 | 9,257 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 820-839 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 3,983 | 4,363 |
Credit Cards Portfolio [Member] | Consumer [Member] | Revolver Accounts | Credit Score, 840+ [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 779 | 917 |
Credit Cards Portfolio [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost - Revolving Loans | 244,166 | 231,324 |
Total Loans | 244,166 | 231,324 |
Credit Cards Portfolio [Member] | Commercial [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 234,242 | 219,558 |
Credit Cards Portfolio [Member] | Commercial [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 9,924 | 11,766 |
Leases and Other Portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 24,057 | 125,095 |
Amortized Cost Basis by Origination Year 2022 | 101,609 | 34,282 |
Amortized Cost Basis by Origination Year 2021 | 18,152 | 22,552 |
Amortized Cost Basis by Origination Year 2020 | 18,114 | 32,767 |
Amortized Cost Basis by Origination Year 2019 | 32,914 | 17,764 |
Amortized Cost Basis by Origination Year Prior to 2019 | 15,556 | 2,290 |
Amortized Cost - Revolving Loans | 47,490 | 71,054 |
Total Loans | 257,892 | 305,804 |
Leases and Other Portfolio [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 257,892 | 305,780 |
Leases and Other Portfolio [Member] | Total Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 24 | |
Leases and Other Portfolio [Member] | Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2020 | 712 | |
Amortized Cost Basis by Origination Year 2019 | 712 | |
Amortized Cost Basis by Origination Year Prior to 2019 | 1,190 | 1,224 |
Total Loans | 1,902 | 1,936 |
Leases and Other Portfolio [Member] | Leases [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 1,902 | 1,936 |
Leases and Other Portfolio [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortized Cost Basis by Origination Year 2023 | 24,057 | 125,095 |
Amortized Cost Basis by Origination Year 2022 | 101,609 | 34,282 |
Amortized Cost Basis by Origination Year 2021 | 18,152 | 22,552 |
Amortized Cost Basis by Origination Year 2020 | 18,114 | 32,055 |
Amortized Cost Basis by Origination Year 2019 | 32,202 | 17,764 |
Amortized Cost Basis by Origination Year Prior to 2019 | 14,366 | 1,066 |
Amortized Cost - Revolving Loans | 47,490 | 71,054 |
Total Loans | 255,990 | 303,868 |
Leases and Other Portfolio [Member] | Other [Member] | Non-watch List-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 255,204 | 303,107 |
Leases and Other Portfolio [Member] | Other [Member] | Watch-Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 761 | 737 |
Leases and Other Portfolio [Member] | Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 25 | $ 24 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses - Rollforward of Allowance for Credit/Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | $ 212,850 | $ 181,333 | $ 194,243 | $ 196,711 |
Charge-offs | (2,498) | (29,669) | (8,332) | (39,526) |
Recoveries | 2,637 | 1,541 | 3,828 | 3,020 |
Provision | 12,000 | 13,400 | 35,250 | 6,400 |
Ending balance - ACL | 224,989 | 166,605 | 224,989 | 166,605 |
Beginning balance - ACL on off-balance sheet | 3,088 | 3,088 | 3,088 | 2,588 |
Provision | 1,000 | 0 | 1,000 | 500 |
Ending balance - ACL on off-balance sheet | 4,088 | 3,088 | 4,088 | 3,088 |
Commercial and Industrial Portfolio [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 154,484 | 118,668 | 136,737 | 123,732 |
Charge-offs | (28,015) | (2,819) | (36,217) | |
Recoveries | 2,098 | 729 | 2,886 | 1,390 |
Provision | 7,228 | 21,560 | 27,006 | 24,037 |
Ending balance - ACL | 163,810 | 112,942 | 163,810 | 112,942 |
Beginning balance - ACL on off-balance sheet | 2,178 | 2,178 | 2,178 | 1,739 |
Provision | 901 | 901 | 439 | |
Ending balance - ACL on off-balance sheet | 3,079 | 2,178 | 3,079 | 2,178 |
Specialty Lending Portfolio [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 922 | 861 | 1,738 | |
Recoveries | 1 | 1 | 1 | |
Provision | (922) | 271 | (1) | (606) |
Ending balance - ACL | 1,133 | 1,133 | ||
Beginning balance - ACL on off-balance sheet | 186 | 186 | 186 | 160 |
Provision | 26 | |||
Ending balance - ACL on off-balance sheet | 186 | 186 | 186 | 186 |
Commercial Real Estate Portfolio Segment | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 40,514 | 47,310 | 39,370 | 56,265 |
Charge-offs | (21) | |||
Recoveries | 21 | 23 | 21 | 385 |
Provision | 1,657 | (10,093) | 2,822 | (19,410) |
Ending balance - ACL | 42,192 | 37,240 | 42,192 | 37,240 |
Beginning balance - ACL on off-balance sheet | 418 | 418 | 418 | 480 |
Provision | 12 | 12 | (62) | |
Ending balance - ACL on off-balance sheet | 430 | 418 | 430 | 418 |
Consumer Real Estate Portfolio [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 5,616 | 4,037 | 6,148 | 3,921 |
Charge-offs | (21) | (25) | (1,142) | (57) |
Recoveries | 5 | 82 | 18 | 110 |
Provision | 927 | 471 | 1,503 | 591 |
Ending balance - ACL | 6,527 | 4,565 | 6,527 | 4,565 |
Beginning balance - ACL on off-balance sheet | 124 | 124 | 124 | 106 |
Provision | (5) | (5) | 18 | |
Ending balance - ACL on off-balance sheet | 119 | 124 | 119 | 124 |
Consumer Portfolio [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 453 | 418 | 494 | 845 |
Charge-offs | (411) | (161) | (680) | (319) |
Recoveries | 100 | 31 | 122 | 60 |
Provision | 275 | 575 | 481 | 277 |
Ending balance - ACL | 417 | 863 | 417 | 863 |
Beginning balance - ACL on off-balance sheet | 13 | 13 | 13 | |
Provision | (1) | (1) | 13 | |
Ending balance - ACL on off-balance sheet | 12 | 13 | 12 | 13 |
Credit Cards Portfolio [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 6,471 | 5,819 | 6,866 | 6,075 |
Charge-offs | (2,066) | (1,468) | (3,670) | (2,933) |
Recoveries | 413 | 675 | 780 | 1,074 |
Provision | 2,413 | 553 | 3,255 | 1,363 |
Ending balance - ACL | 7,231 | 5,579 | 7,231 | 5,579 |
Leases and Other Portfolio [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 2,049 | 2,175 | 2,221 | 2,195 |
Provision | (65) | (151) | (237) | (171) |
Ending balance - ACL | 1,984 | 2,024 | 1,984 | 2,024 |
Beginning balance - ACL on off-balance sheet | 62 | 62 | 62 | 15 |
Provision | 115 | 115 | 47 | |
Ending balance - ACL on off-balance sheet | 177 | 62 | 177 | 62 |
Total - Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 210,509 | 179,288 | 191,836 | 194,771 |
Charge-offs | (2,498) | (29,669) | (8,332) | (39,526) |
Recoveries | 2,637 | 1,541 | 3,828 | 3,020 |
Provision | 11,513 | 13,186 | 34,829 | 6,081 |
Ending balance - ACL | 222,161 | 164,346 | 222,161 | 164,346 |
Beginning balance - ACL on off-balance sheet | 2,981 | 2,981 | 2,981 | 2,500 |
Provision | 1,022 | 1,022 | 481 | |
Ending balance - ACL on off-balance sheet | 4,003 | 2,981 | 4,003 | 2,981 |
HTM [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 2,341 | 2,045 | 2,407 | 1,940 |
Provision | 487 | 214 | 421 | 319 |
Ending balance - ACL | 2,828 | 2,259 | 2,828 | 2,259 |
Beginning balance - ACL on off-balance sheet | 107 | 107 | 107 | 88 |
Provision | (22) | (22) | 19 | |
Ending balance - ACL on off-balance sheet | $ 85 | $ 107 | $ 85 | $ 107 |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses - Summary of Amortized Cost Balance of Financial Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | $ 22,483,542 | $ 21,031,189 | ||||
Related Allowance for Credit Losses | 224,989 | $ 212,850 | 194,243 | $ 166,605 | $ 181,333 | $ 196,711 |
Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 19,640 | 21,618 | ||||
Related Allowance for Credit Losses | 2,995 | 719 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 16,645 | 18,524 | ||||
Commercial and Industrial Portfolio [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 9,901,347 | 9,205,986 | ||||
Related Allowance for Credit Losses | 163,810 | 154,484 | 136,737 | 112,942 | 118,668 | 123,732 |
Commercial and Industrial Portfolio [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 11,918 | 13,972 | ||||
Related Allowance for Credit Losses | 1,138 | 713 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 10,780 | 11,534 | ||||
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 9,738,652 | 9,024,216 | ||||
Commercial and Industrial Portfolio [Member] | Equipment/Accounts Receivable/Inventory [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 11,918 | 13,972 | ||||
Related Allowance for Credit Losses | 1,138 | 713 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 10,780 | 11,534 | ||||
Commercial and Industrial Portfolio [Member] | Agriculture [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 157,667 | 173,841 | ||||
Specialty Lending Portfolio [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 561,216 | 602,706 | ||||
Related Allowance for Credit Losses | 922 | 1,133 | 861 | 1,738 | ||
Specialty Lending Portfolio [Member] | Asset-based Lending [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 561,216 | 602,706 | ||||
Commercial Real Estate Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 8,268,217 | 7,616,086 | ||||
Related Allowance for Credit Losses | 42,192 | 40,514 | 39,370 | 37,240 | 47,310 | 56,265 |
Commercial Real Estate Portfolio Segment | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 2,538 | 2,679 | ||||
Related Allowance for Credit Losses | 1,857 | |||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 681 | 2,679 | ||||
Commercial Real Estate Portfolio Segment | Owner-occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 2,159,615 | 2,132,838 | ||||
Commercial Real Estate Portfolio Segment | Owner-occupied [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 2,243 | 2,204 | ||||
Related Allowance for Credit Losses | 1,857 | |||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 386 | 2,204 | ||||
Commercial Real Estate Portfolio Segment | Non-owner-occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 3,308,055 | 3,244,598 | ||||
Commercial Real Estate Portfolio Segment | Farmland [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 522,998 | 548,113 | ||||
Commercial Real Estate Portfolio Segment | Farmland [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 198 | 374 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 198 | 374 | ||||
Commercial Real Estate Portfolio Segment | 5+ Multi-family [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 127,845 | 166,781 | ||||
Commercial Real Estate Portfolio Segment | 1-4 Family Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 93,915 | 77,179 | ||||
Commercial Real Estate Portfolio Segment | General Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 2,055,789 | 1,446,577 | ||||
Commercial Real Estate Portfolio Segment | General Construction [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 97 | 101 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 97 | 101 | ||||
Consumer Real Estate Portfolio [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 2,918,426 | 2,723,269 | ||||
Related Allowance for Credit Losses | 6,527 | 5,616 | 6,148 | 4,565 | 4,037 | 3,921 |
Consumer Real Estate Portfolio [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 5,146 | 4,882 | ||||
Related Allowance for Credit Losses | 6 | |||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 5,146 | 4,226 | ||||
Consumer Real Estate Portfolio [Member] | HELOC [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 349,542 | 347,169 | ||||
Consumer Real Estate Portfolio [Member] | HELOC [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 1,911 | 2,562 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 1,911 | 2,562 | ||||
Consumer Real Estate Portfolio [Member] | First Lien: 1-4 Family [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 2,532,769 | 2,343,998 | ||||
Consumer Real Estate Portfolio [Member] | First Lien: 1-4 Family [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 3,154 | 2,253 | ||||
Related Allowance for Credit Losses | 6 | |||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 3,154 | 1,597 | ||||
Consumer Real Estate Portfolio [Member] | Junior Lien: 1-4 Family [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 36,115 | 32,102 | ||||
Consumer Real Estate Portfolio [Member] | Junior Lien: 1-4 Family [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 81 | 67 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 81 | 67 | ||||
Consumer Portfolio [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 131,292 | 145,666 | ||||
Related Allowance for Credit Losses | 417 | 453 | 494 | 863 | 418 | 845 |
Consumer Portfolio [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 38 | 61 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 38 | 61 | ||||
Consumer Portfolio [Member] | Revolving Line [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 48,164 | 60,587 | ||||
Consumer Portfolio [Member] | Auto [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 23,215 | 23,359 | ||||
Consumer Portfolio [Member] | Auto [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 23 | 46 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 23 | 46 | ||||
Consumer Portfolio [Member] | Other [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 59,913 | 61,720 | ||||
Consumer Portfolio [Member] | Other [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 15 | 15 | ||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 15 | 15 | ||||
Leases and Other Portfolio [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 257,892 | 305,804 | ||||
Related Allowance for Credit Losses | 1,984 | $ 2,049 | 2,221 | $ 2,024 | $ 2,175 | $ 2,195 |
Leases and Other Portfolio [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 24 | |||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | 24 | |||||
Leases and Other Portfolio [Member] | Leases [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 1,902 | 1,936 | ||||
Leases and Other Portfolio [Member] | Other [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | $ 255,990 | 303,868 | ||||
Leases and Other Portfolio [Member] | Other [Member] | Collateral Dependent Assets [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Notes Receivable Gross | 24 | |||||
Amortized Cost of Collateral Dependent Assets with no related Allowance | $ 24 |
Securities - Securities Availab
Securities - Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 7,434,480 | $ 7,777,950 |
Gross Unrealized Gains | 1,608 | 1,790 |
Gross Unrealized Losses | (767,473) | (773,393) |
Securities available for sale | 6,668,615 | 7,006,347 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 810,770 | 804,158 |
Gross Unrealized Gains | 58 | |
Gross Unrealized Losses | (22,946) | (27,146) |
Securities available for sale | 787,824 | 777,070 |
U.S. Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 178,112 | 178,261 |
Gross Unrealized Losses | (5,811) | (6,965) |
Securities available for sale | 172,301 | 171,296 |
Mortgage-backed [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 4,307,758 | 4,574,905 |
Gross Unrealized Gains | 49 | 92 |
Gross Unrealized Losses | (594,987) | (592,875) |
Securities available for sale | 3,712,820 | 3,982,122 |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,399,314 | 1,465,598 |
Gross Unrealized Gains | 1,341 | 1,608 |
Gross Unrealized Losses | (96,960) | (104,799) |
Securities available for sale | 1,303,695 | 1,362,407 |
Corporates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 384,855 | 401,059 |
Gross Unrealized Losses | (42,199) | (33,559) |
Securities available for sale | 342,656 | 367,500 |
Collateralized loan obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 353,671 | 353,969 |
Gross Unrealized Gains | 218 | 32 |
Gross Unrealized Losses | (4,570) | (8,049) |
Securities available for sale | $ 349,319 | $ 345,952 |
Securities - Summary of Contrac
Securities - Summary of Contractual Maturity Information for Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Investments Debt And Equity Securities [Abstract] | ||
Due in 1 year or less, Amortized Cost | $ 810,149 | |
Due after 1 year through 5 years, Amortized Cost | 1,044,011 | |
Due after 5 years through 10 years, Amortized Cost | 739,996 | |
Due after 10 years, Amortized Cost | 532,566 | |
Total, Amortized Cost | 3,126,722 | |
Mortgage-backed securities, Amortized Cost | 4,307,758 | |
Amortized Cost | 7,434,480 | $ 7,777,950 |
Due in 1 year or less, Fair Value | 793,247 | |
Due after 1 year through 5 years, Fair Value | 998,795 | |
Due after 5 years through 10 years, Fair Value | 691,121 | |
Due after 10 years, Fair Value | 472,632 | |
Total, Fair Value | 2,955,795 | |
Mortgage-backed securities, Fair Value | 3,712,820 | |
Total securities available for sale, Fair Value | $ 6,668,615 | $ 7,006,347 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Proceeds from sales of securities available for sale | $ 68,000 | $ 0 | ||
Gross realized gains from securities | 0 | 0 | ||
Gross realized losses from securities | 2,000 | 0 | ||
Accrued interest on securities available for sale | $ 31,500,000 | 31,500,000 | $ 32,100,000 | |
Impairment on one corporate available-for-sale security | 125,000 | 4,925,000 | ||
Sales of securities held to maturity | 0 | 0 | ||
Amortized cost of available for sale securities transferred to held to maturity | 4,100,000,000 | |||
Fair value of available for sale securities transferred to held to maturity | 3,800,000,000 | |||
Gain (loss) on transfer of securities | 0 | |||
Unamortized unrealized loss | 226,700,000 | |||
Accrued interest on securities held to maturity | 27,000,000 | 27,000,000 | 27,000,000 | |
Unrealized gain (loss) on trading securities | (1,000) | 26,000 | ||
Securities sold not yet purchased | 7,200,000 | 7,200,000 | 3,500,000 | |
Visa Inc. [Member] | Class B Common Shares [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Pre-tax gain on sale of common shares | $ 66,200,000 | |||
Collateral Dependent Assets [Member] | U.S. Government and Other Public Deposit [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Pledged securities for deposits | $ 10,200,000,000 | $ 10,200,000,000 | $ 10,300,000,000 |
Securities - Gross Unrealized L
Securities - Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale (Detail) $ in Thousands | Jun. 30, 2023 USD ($) Security | Dec. 31, 2022 USD ($) Security |
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Count | Security | 1,130 | 2,646 |
Less than 12 months, Fair Value | $ 995,481 | $ 3,654,393 |
Less than 12 months, Unrealized Losses | $ (35,067) | $ (198,376) |
12 months or more, Count | Security | 2,130 | 674 |
12 months or more, Fair Value | $ 5,437,976 | $ 3,098,117 |
12 months or more, Unrealized Losses | $ (732,406) | $ (575,017) |
Total Count | Security | 3,260 | 3,320 |
Total Fair Value | $ 6,433,457 | $ 6,752,510 |
Total Unrealized Losses | $ (767,473) | $ (773,393) |
U.S. Treasury [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Count | Security | 8 | 61 |
Less than 12 months, Fair Value | $ 56,846 | $ 688,208 |
Less than 12 months, Unrealized Losses | $ (673) | $ (22,731) |
12 months or more, Count | Security | 61 | 4 |
12 months or more, Fair Value | $ 730,978 | $ 55,314 |
12 months or more, Unrealized Losses | $ (22,273) | $ (4,415) |
Total Count | Security | 69 | 65 |
Total Fair Value | $ 787,824 | $ 743,522 |
Total Unrealized Losses | $ (22,946) | $ (27,146) |
U.S. Agencies [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Count | Security | 27 | |
Less than 12 months, Fair Value | $ 140,877 | |
Less than 12 months, Unrealized Losses | $ (4,734) | |
12 months or more, Count | Security | 29 | 2 |
12 months or more, Fair Value | $ 172,301 | $ 30,419 |
12 months or more, Unrealized Losses | $ (5,811) | $ (2,231) |
Total Count | Security | 29 | 29 |
Total Fair Value | $ 172,301 | $ 171,296 |
Total Unrealized Losses | $ (5,811) | $ (6,965) |
Mortgage-backed [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Count | Security | 157 | 687 |
Less than 12 months, Fair Value | $ 445,406 | $ 1,415,169 |
Less than 12 months, Unrealized Losses | $ (24,090) | $ (102,881) |
12 months or more, Count | Security | 719 | 205 |
12 months or more, Fair Value | $ 3,257,924 | $ 2,557,035 |
12 months or more, Unrealized Losses | $ (570,897) | $ (489,994) |
Total Count | Security | 876 | 892 |
Total Fair Value | $ 3,703,330 | $ 3,972,204 |
Total Unrealized Losses | $ (594,987) | $ (592,875) |
State and political subdivisions [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Count | Security | 953 | 1,744 |
Less than 12 months, Fair Value | $ 449,733 | $ 936,865 |
Less than 12 months, Unrealized Losses | $ (9,411) | $ (51,427) |
12 months or more, Count | Security | 1,022 | 273 |
12 months or more, Fair Value | $ 689,601 | $ 233,679 |
12 months or more, Unrealized Losses | $ (87,549) | $ (53,372) |
Total Count | Security | 1,975 | 2,017 |
Total Fair Value | $ 1,139,334 | $ 1,170,544 |
Total Unrealized Losses | $ (96,960) | $ (104,799) |
Corporates [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Count | Security | 7 | 86 |
Less than 12 months, Fair Value | $ 14,500 | $ 146,615 |
Less than 12 months, Unrealized Losses | $ (758) | $ (8,783) |
12 months or more, Count | Security | 262 | 189 |
12 months or more, Fair Value | $ 328,156 | $ 216,885 |
12 months or more, Unrealized Losses | $ (41,441) | $ (24,776) |
Total Count | Security | 269 | 275 |
Total Fair Value | $ 342,656 | $ 363,500 |
Total Unrealized Losses | $ (42,199) | $ (33,559) |
Collateralized loan obligations [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Count | Security | 5 | 41 |
Less than 12 months, Fair Value | $ 28,996 | $ 326,659 |
Less than 12 months, Unrealized Losses | $ (135) | $ (7,820) |
12 months or more, Count | Security | 37 | 1 |
12 months or more, Fair Value | $ 259,016 | $ 4,785 |
12 months or more, Unrealized Losses | $ (4,435) | $ (229) |
Total Count | Security | 42 | 42 |
Total Fair Value | $ 288,012 | $ 331,444 |
Total Unrealized Losses | $ (4,570) | $ (8,049) |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost, Fair Value and Gross Unrealized Gains and Losses for Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Amortized Cost | $ 5,810,591 | $ 5,861,599 |
Gross Unrealized Gains | 30,360 | 17,629 |
Gross Unrealized Losses | (606,715) | (598,569) |
Held to Maturity, Fair value | 5,234,236 | 5,280,659 |
Allowance for Credit Losses | (2,828) | (2,407) |
Net Carrying Amount | 5,807,763 | 5,859,192 |
U.S. Agencies [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Amortized Cost | 123,150 | 123,091 |
Gross Unrealized Losses | (4,584) | (4,567) |
Held to Maturity, Fair value | 118,566 | 118,524 |
Net Carrying Amount | 123,150 | 123,091 |
Mortgage-backed [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Amortized Cost | 2,854,688 | 2,965,586 |
Gross Unrealized Gains | 5 | 11 |
Gross Unrealized Losses | (397,276) | (392,530) |
Held to Maturity, Fair value | 2,457,417 | 2,573,067 |
Net Carrying Amount | 2,854,688 | 2,965,586 |
State and political subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Amortized Cost | 2,832,753 | 2,772,922 |
Gross Unrealized Gains | 30,355 | 17,618 |
Gross Unrealized Losses | (204,855) | (201,472) |
Held to Maturity, Fair value | 2,658,253 | 2,589,068 |
Allowance for Credit Losses | (2,828) | (2,407) |
Net Carrying Amount | $ 2,829,925 | $ 2,770,515 |
Securities - Contractual Maturi
Securities - Contractual Maturity Information for Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Investments Debt And Equity Securities [Abstract] | ||
Due in 1 year or less, Amortized Cost | $ 94,047 | |
Due after 1 year through 5 years, Amortized Cost | 315,932 | |
Due after 5 years through 10 years, Amortized Cost | 841,919 | |
Due after 10 years, Amortized Cost | 1,704,005 | |
Total, Amortized cost | 2,955,903 | |
Mortgage-backed securities, Amortized cost | 2,854,688 | |
Amortized Cost | 5,810,591 | $ 5,861,599 |
Due in 1 year or less, Fair Value | 93,373 | |
Due after 1 year through 5 years, Fair Value | 305,894 | |
Due after 5 years through 10 years, Fair Value | 805,379 | |
Due after 10 years, Fair Value | 1,572,173 | |
Total, Fair value | 2,776,819 | |
Mortgage-backed securities, Fair value | 2,457,417 | |
Total securities held to maturity, Fair value | $ 5,234,236 | $ 5,280,659 |
Securities - Gross Unrealized_2
Securities - Gross Unrealized Losses and Fair Value of Investment Securities Held to Maturity (Detail) $ in Thousands | Jun. 30, 2023 USD ($) Security | Dec. 31, 2022 USD ($) Security |
Schedule Of Held To Maturity Securities [Line Items] | ||
Less than 12 months, Count | Security | 217 | 1,668 |
Less than 12 months, Fair Value | $ 500,063 | $ 4,004,872 |
Less than 12 months,Unrealized Losses | $ (21,328) | $ (529,135) |
12 months or more, Count | Security | 1,565 | 72 |
12 months or more, Fair Value | $ 4,225,279 | $ 845,884 |
12 months or more, Unrealized Losses | $ (585,387) | $ (69,434) |
Total Count | Security | 1,782 | 1,740 |
Total Fair Value | $ 4,725,342 | $ 4,850,756 |
Total Unrealized Losses | $ (606,715) | $ (598,569) |
U.S. Agencies [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Less than 12 months, Count | Security | 11 | |
Less than 12 months, Fair Value | $ 118,524 | |
Less than 12 months,Unrealized Losses | $ (4,567) | |
12 months or more, Count | Security | 11 | |
12 months or more, Fair Value | $ 118,566 | |
12 months or more, Unrealized Losses | $ (4,584) | |
Total Count | Security | 11 | 11 |
Total Fair Value | $ 118,566 | $ 118,524 |
Total Unrealized Losses | $ (4,584) | $ (4,567) |
Mortgage-backed [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Less than 12 months, Count | Security | 13 | 254 |
Less than 12 months, Fair Value | $ 40,190 | $ 2,342,656 |
Less than 12 months,Unrealized Losses | $ (3,165) | $ (346,611) |
12 months or more, Count | Security | 252 | 11 |
12 months or more, Fair Value | $ 2,414,916 | $ 228,079 |
12 months or more, Unrealized Losses | $ (394,111) | $ (45,919) |
Total Count | Security | 265 | 265 |
Total Fair Value | $ 2,455,106 | $ 2,570,735 |
Total Unrealized Losses | $ (397,276) | $ (392,530) |
State and political subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Less than 12 months, Count | Security | 204 | 1,403 |
Less than 12 months, Fair Value | $ 459,873 | $ 1,543,692 |
Less than 12 months,Unrealized Losses | $ (18,163) | $ (177,957) |
12 months or more, Count | Security | 1,302 | 61 |
12 months or more, Fair Value | $ 1,691,797 | $ 617,805 |
12 months or more, Unrealized Losses | $ (186,692) | $ (23,515) |
Total Count | Security | 1,506 | 1,464 |
Total Fair Value | $ 2,151,670 | $ 2,161,497 |
Total Unrealized Losses | $ (204,855) | $ (201,472) |
Securities - Schedule of Amor_2
Securities - Schedule of Amortized Cost Basis by Credit Rating of Held to Maturity Investment (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | $ 5,810,591 | $ 5,861,599 |
Competitive [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 1,152,200 | 1,074,524 |
State and political subdivisions [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 2,832,753 | 2,772,922 |
Utilities [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 1,680,553 | 1,698,398 |
Credit Rating, AAA [Member] | State and political subdivisions [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 762,228 | 759,539 |
Credit Rating, AAA [Member] | Utilities [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 762,228 | 759,539 |
Credit Rating, AA [Member] | State and political subdivisions [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 804,774 | 824,386 |
Credit Rating, AA [Member] | Utilities [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 804,774 | 824,386 |
Credit Rating, A [Member] | Competitive [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 468,632 | 435,953 |
Credit Rating, A [Member] | State and political subdivisions [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 552,741 | 520,246 |
Credit Rating, A [Member] | Utilities [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 84,109 | 84,293 |
Credit Rating, BBB [Member] | Competitive [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 645,720 | 618,517 |
Credit Rating, BBB [Member] | State and political subdivisions [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 674,564 | 648,116 |
Credit Rating, BBB [Member] | Utilities [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 28,844 | 29,599 |
Credit Rating, BB [Member] | Competitive [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 17,617 | 17,120 |
Credit Rating, BB [Member] | State and political subdivisions [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 18,215 | 17,701 |
Credit Rating, BB [Member] | Utilities [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 598 | 581 |
Credit Rating, B [Member] | Competitive [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 17,438 | |
Credit Rating, B [Member] | State and political subdivisions [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 17,438 | |
Credit Rating, CCC-C [Member] | Competitive [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | 2,793 | 2,934 |
Credit Rating, CCC-C [Member] | State and political subdivisions [Member] | ||
Debt Securities Held To Maturity Credit Quality Indicator [Line Items] | ||
Held to maturity securities | $ 2,793 | $ 2,934 |
Securities - Schedule of Other
Securities - Schedule of Other Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule of Other Securities [Line Items] | ||
Other securities | $ 428,149 | $ 349,758 |
FRB and FHLB stock [Member] | ||
Schedule of Other Securities [Line Items] | ||
Other securities | 82,672 | 41,472 |
Equity Securities With Readily Determinable Fair Values [Member] | ||
Schedule of Other Securities [Line Items] | ||
Other securities | 10,925 | 10,782 |
Equity Securities Without Readily Determinable Fair Values [Member] | ||
Schedule of Other Securities [Line Items] | ||
Other securities | $ 334,552 | $ 297,504 |
Securities - Schedule of Compon
Securities - Schedule of Components of Investment Securities (Losses) Gains, Net (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Available-for-sale debt securities: | ||||
Gains realized on sales | $ 0 | $ 0 | ||
Losses realized on sales | (2,000) | 0 | ||
Impairment of AFS security | $ (125,000) | (4,925,000) | ||
Equity securities with readily determinable fair values: | ||||
Fair value adjustments, net | (62,000) | $ (5,407,000) | 26,000 | (7,129,000) |
Equity securities without readily determinable fair values: | ||||
Fair value adjustments, net | 1,087,000 | (35,000) | 477,000 | 1,165,000 |
Sales | 66,162,000 | 66,162,000 | ||
Total investment securities (losses) gains, net | $ 900,000 | $ 60,720,000 | $ (4,424,000) | $ 60,198,000 |
Goodwill and Other Intangible_2
Goodwill and Other Intangibles - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Mar. 28, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | |
Goodwill And Other Intangible Assets [Line Items] | |||
Goodwill | $ 207,385 | $ 174,518 | |
Healthcare savings account business acquisition | 25,160 | ||
Branch acquisition | $ 7,700 | 7,707 | |
Goodwill | 207,385 | 207,385 | |
Commercial Banking [Member] | |||
Goodwill And Other Intangible Assets [Line Items] | |||
Goodwill | 63,113 | 59,419 | |
Branch acquisition | 3,694 | ||
Goodwill | 63,113 | 63,113 | |
Institutional Banking [Member] | |||
Goodwill And Other Intangible Assets [Line Items] | |||
Goodwill | 76,492 | 51,332 | |
Healthcare savings account business acquisition | 25,160 | ||
Goodwill | 76,492 | 76,492 | |
Personal Banking [Member] | |||
Goodwill And Other Intangible Assets [Line Items] | |||
Goodwill | 67,780 | 63,767 | |
Branch acquisition | 4,013 | ||
Goodwill | $ 67,780 | $ 67,780 |
Goodwill and Other Intangible_3
Goodwill and Other Intangibles - Changes In Intangible Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 129,983 | $ 131,639 |
Accumulated amortization | 54,799 | 52,915 |
Net carrying amount | 75,184 | 78,724 |
Core Deposit Intangible Assets [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 14,130 | 16,661 |
Accumulated amortization | 12,618 | 14,827 |
Net carrying amount | 1,512 | 1,834 |
Customer Relationships [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 115,853 | 114,978 |
Accumulated amortization | 42,181 | 38,088 |
Net carrying amount | $ 73,672 | $ 76,890 |
Goodwill and Other Intangible_4
Goodwill and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Nov. 18, 2022 | Mar. 28, 2022 | Dec. 31, 2022 | |
Finite Lived Intangible Assets [Line Items] | |||
Deposit acquired | $ 383,000 | $ 226,800 | |
Branch acquisition | 7,700 | $ 7,707 | |
Customer relationship intangible asset | 67,000 | ||
Loan acquired | 43,000 | ||
Core deposit intangible asset | $ 2,300 | ||
Customer Relationships [Member] | |||
Finite Lived Intangible Assets [Line Items] | |||
Branch acquisition | $ 25,200 |
Goodwill and Other Intangible_5
Goodwill and Other Intangibles - Aggregate Amortization Expense Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Aggregate amortization expense | $ 2,117 | $ 1,225 | $ 4,415 | $ 2,296 |
Goodwill and Other Intangible_6
Goodwill and Other Intangibles - Estimated Amortization Expense of Intangible Assets (Detail) $ in Thousands | Jun. 30, 2023 USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
For the six months ending December 31, 2023 | $ 4,171 |
For the year ending December 31, 2024 | 7,694 |
For the year ending December 31, 2025 | 7,487 |
For the year ending December 31, 2026 | 6,628 |
For the year ending December 31, 2027 | $ 4,655 |
Borrowed Funds - Component of S
Borrowed Funds - Component of Short-Term and Long-Term Debt (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Instrument [Line Items] | ||
Short-term debt | $ 1,800,000 | |
Long-term debt | 382,280 | $ 381,311 |
Total borrowed funds | 2,182,280 | 381,311 |
Federal Home Loan Bank 5.04% due 2024 [Member] | ||
Debt Instrument [Line Items] | ||
Short-term debt | 1,000,000 | |
Federal Reserve Bank Term Funding Program 4.70% due 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Short-term debt | 800,000 | |
Marquette Capital Trust I Subordinated Debentures 6.59% due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 18,463 | 18,319 |
Marquette Capital Trust II Subordinated Debentures 6.59% due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 18,998 | 18,863 |
Marquette Capital Trust III Subordinated Debentures 7.04% due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 7,466 | 7,415 |
Marquette Capital Trust IV Subordinated Debentures 7.15% due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 30,157 | 29,956 |
Subordinated notes 3.70% due 2030, net of issuance costs [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 199,006 | 198,781 |
Subordinated notes 6.25% due 2032, net issuance costs [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 108,190 | $ 107,977 |
Borrowed Funds - Component of_2
Borrowed Funds - Component of Short-Term and Long-Term Debt (Parenthetical) (Detail) | 6 Months Ended |
Jun. 30, 2023 | |
Federal Home Loan Bank 5.04% due 2024 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate | 5.04% |
Debt instrument, maturity year | 2024 |
Federal Reserve Bank Term Funding Program 4.70% due 2023 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate | 4.70% |
Debt instrument, maturity year | 2023 |
Marquette Capital Trust I Subordinated Debentures 6.59% due 2036 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate | 6.59% |
Debt instrument, maturity year | 2036 |
Marquette Capital Trust II Subordinated Debentures 6.59% due 2036 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate | 6.59% |
Debt instrument, maturity year | 2036 |
Marquette Capital Trust III Subordinated Debentures 7.04% due 2036 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate | 7.04% |
Debt instrument, maturity year | 2036 |
Marquette Capital Trust IV Subordinated Debentures 7.15% due 2036 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate | 7.15% |
Debt instrument, maturity year | 2036 |
Subordinated notes 3.70% due 2030, net of issuance costs [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate | 3.70% |
Debt instrument, maturity year | 2030 |
Subordinated notes 6.25% due 2032, net issuance costs [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, interest rate | 6.25% |
Debt instrument, maturity year | 2032 |
Borrowed Funds - Additional Inf
Borrowed Funds - Additional Information (Detail) - USD ($) | 1 Months Ended | 6 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2020 | Jun. 30, 2023 | |
Debt Instrument [Line Items] | |||
Payments to acquire federal home loan bank stock | $ 50,200,000 | ||
Short-term borrowing outstanding | 1,800,000,000 | ||
Federal Home Loan Bank 5.04% due 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Short-term borrowing outstanding | 1,000,000,000 | ||
Letter of Credit [Member] | Federal Home Loan Bank 5.04% due 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Revolving line of credit outstanding amount | $ 150,000,000 | ||
Letter of credit, expiration date | Oct. 31, 2023 | ||
Borrowing capacity | $ 721,000,000 | ||
Wells Fargo Bank 1.40% due 2012 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate based on SOFR | 1.40% above Term SOFR | ||
Revolving line of credit outstanding amount | $ 0 | ||
Borrowing capacity | $ 30,000,000 | ||
Debt instrument, interest rate based on prime lending rate | 1.75% below the prime | ||
Revolving line of credit, commitment fee for unused portion | 0.40% | ||
Subordinated notes 3.70% due 2030, net of issuance costs [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, issuance date | Sep. 30, 2020 | ||
Subordinated notes, issued | $ 200,000,000 | ||
Debt instrument, interest rate | 3.70% | ||
Debt instrument, maturity date | Sep. 17, 2030 | ||
Debt instrument, frequency of periodic payment | semi-annually | ||
Debt instrument, redemption, description | The Company may redeem the notes, in whole or in part, on September 17, 2025, or on any interest payment date thereafter. | ||
Unamortized debt issuance costs | $ 1,000,000 | ||
Subordinated notes 6.25% due 2032, net issuance costs [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, issuance date | Sep. 30, 2022 | ||
Subordinated notes, issued | $ 110,000,000 | ||
Debt instrument, interest rate | 6.25% | ||
Debt instrument, maturity date | Sep. 28, 2032 | ||
Debt instrument, frequency of periodic payment | semi-annually | ||
Debt instrument, redemption, description | The Company may redeem the notes, in whole or in part, on September 28, 2027, or on any interest payment date thereafter. | ||
Unamortized debt issuance costs | $ 1,800,000 | ||
Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III And Marquette Capital Trust IV [Member] | Marquette [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt | 103,100,000 | ||
Long-term debt acquired at fair value | $ 75,100,000 | ||
Trust Preferred Securities [Member] | Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III And Marquette Capital Trust IV [Member] | Marquette [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate based on SOFR | Secured Overnight Financing Rate (SOFR) with spreads ranging from 133 basis points to 160 basis points | ||
Preferred securities maturity date range, start | Jan. 31, 2036 | ||
Preferred securities maturity date range, end | Sep. 30, 2036 | ||
Federal Reserve Bank's Bank Term Funding Program [Member] | |||
Debt Instrument [Line Items] | |||
Short-term borrowing outstanding | $ 800,000,000 | ||
Borrowing capacity | 40,000,000 | ||
Federal Reserve Discount Window 4.70% due 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Borrowing capacity | $ 9,600,000,000 | ||
Minimum [Member] | Trust Preferred Securities [Member] | Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III And Marquette Capital Trust IV [Member] | Marquette [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate of trust preferred securities | 1.33% | ||
Maximum [Member] | Trust Preferred Securities [Member] | Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III And Marquette Capital Trust IV [Member] | Marquette [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate of trust preferred securities | 1.60% |
Borrowed Funds - Remaining Cont
Borrowed Funds - Remaining Contractual Maturities Of Repurchase Agreements (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | $ 1,976,602 | $ 2,159,687 |
2 to 29 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 1,675,470 | 1,869,186 |
30 to 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 202,132 | 290,501 |
Over 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 99,000 | |
U.S. Treasury [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 112,139 | 33,888 |
U.S. Treasury [Member] | 2 to 29 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 65,334 | 33,888 |
U.S. Treasury [Member] | Over 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 46,805 | |
U.S. Agencies [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 1,864,463 | 2,125,799 |
U.S. Agencies [Member] | 2 to 29 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 1,610,136 | 1,835,298 |
U.S. Agencies [Member] | 30 to 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | 202,132 | $ 290,501 |
U.S. Agencies [Member] | Over 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total repurchase agreements | $ 52,195 |
Business Segment Reporting - Ad
Business Segment Reporting - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2023 Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 3 |
Business Segment Reporting - Sc
Business Segment Reporting - Schedule of Segment Financial Results (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Segment Reporting Information [Line Items] | ||||
Net interest income | $ 225,611 | $ 224,791 | $ 467,307 | $ 435,146 |
Provision for credit losses | 13,000 | 13,400 | 36,250 | 6,900 |
Noninterest income | 138,082 | 176,335 | 268,282 | 300,013 |
Noninterest expense | 240,673 | 214,127 | 477,725 | 428,905 |
Income (loss) before taxes | 110,020 | 173,599 | 221,614 | 299,354 |
Income tax expense (benefit) | 19,910 | 36,043 | 39,067 | 55,835 |
NET INCOME | 90,110 | 137,556 | 182,547 | 243,519 |
Average assets | 40,365,000 | 37,563,000 | 39,443,000 | 38,353,000 |
Commercial Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 144,389 | 149,094 | 295,416 | 294,096 |
Provision for credit losses | 11,055 | (12,067) | 32,099 | 5,027 |
Noninterest income | 25,666 | 56,894 | 48,568 | 83,594 |
Noninterest expense | 85,896 | 79,521 | 169,900 | 159,110 |
Income (loss) before taxes | 73,104 | 114,400 | 141,985 | 213,553 |
Income tax expense (benefit) | 13,230 | 23,752 | 25,030 | 39,831 |
NET INCOME | 59,874 | 90,648 | 116,955 | 173,722 |
Average assets | 20,888,000 | 16,829,000 | 20,209,000 | 16,824,000 |
Institutional Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 50,397 | 34,981 | 105,482 | 61,233 |
Provision for credit losses | 234 | 89 | 331 | 240 |
Noninterest income | 86,813 | 81,082 | 171,051 | 154,354 |
Noninterest expense | 91,591 | 76,511 | 180,962 | 152,112 |
Income (loss) before taxes | 45,385 | 39,463 | 95,240 | 63,235 |
Income tax expense (benefit) | 8,213 | 8,193 | 16,789 | 11,795 |
NET INCOME | 37,172 | 31,270 | 78,451 | 51,440 |
Average assets | 12,756,000 | 13,577,000 | 12,603,000 | 14,125,000 |
Personal Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 30,825 | 40,716 | 66,409 | 79,817 |
Provision for credit losses | 1,711 | 1,244 | 3,820 | 1,633 |
Noninterest income | 25,603 | 38,359 | 48,663 | 62,065 |
Noninterest expense | 63,186 | 58,095 | 126,863 | 117,683 |
Income (loss) before taxes | (8,469) | 19,736 | (15,611) | 22,566 |
Income tax expense (benefit) | (1,533) | 4,098 | (2,752) | 4,209 |
NET INCOME | (6,936) | 15,638 | (12,859) | 18,357 |
Average assets | $ 6,721,000 | $ 7,157,000 | $ 6,631,000 | $ 7,404,000 |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) - ASC 606 [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Disaggregation Of Revenue [Line Items] | |||||
Total receivables of revenue recognized | $ 82.5 | $ 82.5 | $ 76.1 | ||
Bankcard Fees [Member] | |||||
Disaggregation Of Revenue [Line Items] | |||||
Bankcard expenses | $ 10.7 | $ 9.6 | $ 20.7 | $ 17.7 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Disaggregation of Revenue According to Revenue Stream and Business Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disaggregation Of Revenue [Line Items] | ||||
Revenue (Expense) out of Scope of ASC 606 | $ 10,627 | $ 55,340 | $ 13,926 | $ 65,250 |
Noninterest income | 138,082 | 176,335 | 268,282 | 300,013 |
Trust and Securities Processing [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 61,589 | 58,886 | 123,948 | 118,414 |
Trading and Investment Banking [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue (Expense) out of Scope of ASC 606 | 4,645 | 7,063 | 9,795 | 12,347 |
Noninterest income | 4,800 | 7,123 | 10,108 | 12,563 |
Service Charges On Deposit Accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue (Expense) out of Scope of ASC 606 | 24 | 50 | 42 | 120 |
Noninterest income | 21,381 | 20,835 | 42,540 | 45,477 |
Insurance Fees and Commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 225 | 245 | 499 | 504 |
Brokerage Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 13,604 | 12,391 | 27,280 | 15,847 |
Bankcard Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue (Expense) out of Scope of ASC 606 | (10,649) | (9,383) | (20,381) | (17,272) |
Noninterest income | 18,579 | 17,840 | 36,751 | 34,475 |
Investment Securities Gains (Losses), Net [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue (Expense) out of Scope of ASC 606 | 900 | 60,720 | (4,424) | 60,198 |
Noninterest income | 900 | 60,720 | (4,424) | 60,198 |
Other [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue (Expense) out of Scope of ASC 606 | 15,707 | (3,110) | 28,894 | 9,857 |
Noninterest income | 17,004 | (1,705) | 31,580 | 12,535 |
Commercial Banking [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 26,876 | 24,760 | 51,323 | 47,876 |
Noninterest income | 25,666 | 56,894 | 48,568 | 83,594 |
Commercial Banking [Member] | Service Charges On Deposit Accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 9,778 | 8,696 | 18,305 | 17,641 |
Commercial Banking [Member] | Brokerage Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 65 | 75 | 128 | 108 |
Commercial Banking [Member] | Bankcard Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 16,868 | 15,757 | 32,500 | 29,731 |
Commercial Banking [Member] | Other [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 165 | 232 | 390 | 396 |
Institutional Banking [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 77,596 | 72,047 | 156,603 | 138,817 |
Noninterest income | 86,813 | 81,082 | 171,051 | 154,354 |
Institutional Banking [Member] | Trust and Securities Processing [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 48,413 | 45,355 | 97,592 | 90,840 |
Institutional Banking [Member] | Trading and Investment Banking [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 155 | 60 | 313 | 216 |
Institutional Banking [Member] | Service Charges On Deposit Accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 10,159 | 10,250 | 20,898 | 24,140 |
Institutional Banking [Member] | Brokerage Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 11,687 | 10,350 | 23,482 | 11,834 |
Institutional Banking [Member] | Bankcard Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 6,662 | 5,553 | 13,340 | 10,884 |
Institutional Banking [Member] | Other [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 520 | 479 | 978 | 903 |
Personal Banking [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 22,983 | 24,188 | 46,430 | 48,070 |
Noninterest income | 25,603 | 38,359 | 48,663 | 62,065 |
Personal Banking [Member] | Trust and Securities Processing [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 13,176 | 13,531 | 26,356 | 27,574 |
Personal Banking [Member] | Service Charges On Deposit Accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 1,420 | 1,839 | 3,295 | 3,576 |
Personal Banking [Member] | Insurance Fees and Commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 225 | 245 | 499 | 504 |
Personal Banking [Member] | Brokerage Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 1,852 | 1,966 | 3,670 | 3,905 |
Personal Banking [Member] | Bankcard Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | 5,698 | 5,913 | 11,292 | 11,132 |
Personal Banking [Member] | Other [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue Scope of ASC 606 | $ 612 | $ 694 | $ 1,318 | $ 1,379 |
Commitments, Contingencies an_3
Commitments, Contingencies and Guarantees - Notional Amount of Off-Balance Sheet Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Commitments to extend credit for loans (excluding credit card loans) [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | $ 12,700,354 | $ 12,988,231 |
Commitments to extend credit under credit card loans [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 4,578,484 | 4,008,386 |
Commercial letters of credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 3,230 | 3,334 |
Standby letters of credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 437,733 | 436,965 |
Forward contracts [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 13,674 | 32,552 |
Spot foreign exchange contracts [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | $ 15,009 | $ 5,112 |
Commitments, Contingencies an_4
Commitments, Contingencies and Guarantees - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Line Items] | ||||||||
ACL for off-balance sheet credit exposures | $ 4,088 | $ 3,088 | $ 4,088 | $ 3,088 | $ 3,088 | $ 3,088 | $ 3,088 | $ 2,588 |
Provision for off-balance sheet credit exposures | 1,000 | $ 0 | 1,000 | $ 500 | ||||
Accrued Expenses and Taxes [Member] | ||||||||
Commitments and Contingencies Disclosure [Line Items] | ||||||||
ACL for off-balance sheet credit exposures | $ 4,100 | $ 4,100 | $ 3,100 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities - Summary of Fair Value of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | $ 112,241 | $ 48,121 |
Derivative Liabilities, Fair Value | 118,562 | 126,334 |
Derivatives not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | 112,237 | 47,638 |
Derivative Liabilities, Fair Value | 118,471 | 126,231 |
Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | 4 | 483 |
Derivative Liabilities, Fair Value | $ 91 | $ 103 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities - Additional Information (Detail) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 USD ($) Derivative | Dec. 31, 2022 USD ($) Derivative | Aug. 28, 2020 USD ($) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Hedging adjustments amortized through contractual maturity date in connection with terminated hedge | $ 9,400,000 | ||
Termination value of derivatives in net liability position | 0 | ||
Collateral posted for derivative instruments | $ 0 | ||
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Interest rate hedging exposure to variability in future cash flows for forecasted transactions, maximum period | 13 years 2 months 12 days | ||
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivative, notional amount | $ 28,100,000 | $ 254,600,000 | |
Number of interest rate swaps | Derivative | 1 | 3 | |
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivative, notional amount | $ 51,500,000 | $ 51,500,000 | |
Number of interest rate swaps | Derivative | 2 | 2 | |
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Interest Expense [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Reclassification from AOCI to interest | $ 1,400,000 | ||
Interest Rate Swap [Member] | Derivatives not Designated as Hedging Instruments [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivative, notional amount | $ 3,900,000,000 | $ 3,500,000,000 | |
Number of interest rate swaps | Derivative | 248 | 230 | |
Interest Rate Floor [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Derivative, notional amount | $ 750,000,000 | ||
Net asset fair value | $ 34,100,000 | ||
Unrealized gain on terminated interest rate floor remaining in AOCI, pre tax | $ 4,900,000 | $ 7,400,000 | |
Unrealized gain on terminated interest rate floor remaining in AOCI, net of tax | $ 3,700,000 | $ 5,600,000 | |
Unrealized gain reclassification to earnings, remaining term | 1 year 2 months 12 days | ||
Interest rate floor termination date | Aug. 28, 2020 | ||
Interest Rate Floor [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Increase To Interest Income [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Reclassification from AOCI to interest | $ 4,300,000 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities - Summary of Amount of Gain (Loss) Recognized in Interest Income and Other Non-interest Expense in Consolidated Statements of Income Related to Derivative Assets and Liabilities (Detail) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Derivatives not Designated as Hedging Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | $ 51 | $ 191 | $ (22) | $ 374 |
Derivatives Designated as Hedging Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | (1) | (71) | 2 | 547 |
Derivatives Designated as Hedging Instruments [Member] | Fair value adjustments on derivatives [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | 656 | 16,035 | 849 | 52,711 |
Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | $ (657) | $ (16,106) | $ (847) | $ (52,164) |
Derivatives and Hedging Activ_6
Derivatives and Hedging Activities - Summary of Effect of Hedges on AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain Recognized in OCI on Derivative | $ 1,848 | $ 4,437 | $ 321 | $ 9,117 |
Gain (Loss) Reclassified from AOCI into Earnings | 2,660 | 1,090 | 5,221 | 1,941 |
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain Recognized in OCI on Derivative | 1,848 | 4,437 | 321 | 9,117 |
Gain Recognized in OCI Included Component | 1,848 | 4,437 | 321 | 9,117 |
Gain (Loss) Reclassified from AOCI into Earnings | 1,501 | 1,026 | 2,996 | 1,877 |
Gain (Loss) Reclassified from AOCI into Earnings Included Component | 2,062 | 1,587 | 4,112 | 2,993 |
Loss Reclassified from AOCI into Earnings Excluded Component | (561) | (561) | (1,116) | (1,116) |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Floor [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Reclassified from AOCI into Earnings | 1,205 | 1,250 | 2,436 | 2,413 |
Gain (Loss) Reclassified from AOCI into Earnings Included Component | 1,766 | 1,811 | 3,552 | 3,529 |
Loss Reclassified from AOCI into Earnings Excluded Component | (561) | (561) | (1,116) | (1,116) |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain Recognized in OCI on Derivative | 1,848 | 4,437 | 321 | 9,117 |
Gain Recognized in OCI Included Component | 1,848 | 4,437 | 321 | 9,117 |
Gain (Loss) Reclassified from AOCI into Earnings | 296 | (224) | 560 | (536) |
Gain (Loss) Reclassified from AOCI into Earnings Included Component | $ 296 | $ (224) | $ 560 | $ (536) |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | $ 28,887 | $ 17,980 |
Available for sale securities | 6,668,615 | 7,006,347 |
Derivative Assets, Fair Value | 112,241 | 48,121 |
Derivative Liabilities, Fair Value | 118,562 | 126,334 |
Securities sold not yet purchased | 7,200 | 3,500 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 819 | 2,384 |
Available for sale securities | 1,130,480 | 1,144,570 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 28,068 | 15,596 |
Available for sale securities | 5,538,135 | 5,861,777 |
U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 787,824 | 777,070 |
U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 172,301 | 171,296 |
Mortgage-backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 3,712,820 | 3,982,122 |
State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 1,303,695 | 1,362,407 |
Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 342,656 | 367,500 |
Fair Value Measurement, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 28,887 | 17,980 |
Available for sale securities | 6,668,615 | 7,006,347 |
Equity securities with readily determinable fair values | 10,925 | 10,782 |
Company-owned life insurance | 63,837 | 56,769 |
Bank-owned life insurance | 516,816 | 510,293 |
Derivative Assets, Fair Value | 112,241 | 48,121 |
Total | 7,401,321 | 7,650,292 |
Derivative Liabilities, Fair Value | 118,562 | 126,334 |
Securities sold not yet purchased | 7,229 | 3,503 |
Total | 125,791 | 129,837 |
Fair Value Measurement, Recurring [Member] | Trading - other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 79 | 780 |
Fair Value Measurement, Recurring [Member] | Collateralized loan obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 349,319 | 345,952 |
Fair Value Measurement, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 819 | 2,384 |
Available for sale securities | 1,130,480 | 1,144,570 |
Equity securities with readily determinable fair values | 10,925 | 10,782 |
Total | 1,142,224 | 1,157,736 |
Fair Value Measurement, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Trading - other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 79 | 780 |
Fair Value Measurement, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 28,068 | 15,596 |
Available for sale securities | 5,538,135 | 5,861,777 |
Company-owned life insurance | 63,837 | 56,769 |
Bank-owned life insurance | 516,816 | 510,293 |
Derivative Assets, Fair Value | 112,241 | 48,121 |
Total | 6,259,097 | 6,492,556 |
Derivative Liabilities, Fair Value | 118,562 | 126,334 |
Securities sold not yet purchased | 7,229 | 3,503 |
Total | 125,791 | 129,837 |
Fair Value Measurement, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Collateralized loan obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 349,319 | 345,952 |
Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 584 | 580 |
Available for sale securities | 787,824 | 777,070 |
Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 584 | 580 |
Available for sale securities | 787,824 | 777,070 |
Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 11,129 | 7,558 |
Available for sale securities | 172,301 | 171,296 |
Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 11,129 | 7,558 |
Available for sale securities | 172,301 | 171,296 |
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 3,712,820 | 3,982,122 |
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 3,712,820 | 3,982,122 |
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 16,939 | 8,038 |
Available for sale securities | 1,303,695 | 1,362,407 |
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 16,939 | 8,038 |
Available for sale securities | 1,303,695 | 1,362,407 |
Fair Value Measurement, Recurring [Member] | Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 156 | 1,024 |
Available for sale securities | 342,656 | 367,500 |
Fair Value Measurement, Recurring [Member] | Corporates [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 156 | 1,024 |
Available for sale securities | $ 342,656 | $ 367,500 |
Fair Value Measurements - Ass_2
Fair Value Measurements - Assets Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Measurements, Non-Recurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 4,510 | $ 4,441 |
Total Losses Recognized | (3,403) | (2,998) |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 4,510 | 4,441 |
Collateral dependent assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 4,510 | 4,373 |
Total Losses Recognized | (3,403) | (2,998) |
Collateral dependent assets [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 4,510 | 4,373 |
Other real estate owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 68 | |
Other real estate owned [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 68 |
Fair Value Measurements - Estim
Fair Value Measurements - Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | $ 4,121,276 | $ 2,638,384 |
Securities available for sale | 6,668,615 | 7,006,347 |
Securities held to maturity (exclusive of allowance for credit losses) | 5,810,591 | 5,861,599 |
Trading securities | 28,887 | 17,980 |
Other securities | 428,149 | 349,758 |
Loans (exclusive of allowance for credit losses) | 22,487,361 | 21,033,167 |
Derivatives | 112,241 | 48,121 |
Demand and savings deposits | 30,326,969 | 31,721,995 |
Time deposits | 3,193,492 | 917,138 |
Other borrowings | 3,850,583 | 2,222,167 |
Long-term debt | 382,280 | 381,311 |
Derivatives | 118,562 | 126,334 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 4,121,276 | 2,638,384 |
Securities available for sale | 6,668,615 | 7,006,347 |
Securities held to maturity (exclusive of allowance for credit losses) | 5,234,236 | 5,280,659 |
Trading securities | 28,887 | 17,980 |
Other securities | 428,149 | 349,758 |
Loans (exclusive of allowance for credit losses) | 22,295,499 | 20,816,899 |
Derivatives | 112,241 | 48,121 |
Demand and savings deposits | 30,326,969 | 31,721,995 |
Time deposits | 3,200,832 | 917,138 |
Other borrowings | 3,850,583 | 2,222,167 |
Long-term debt | 415,254 | 418,737 |
Derivatives | 118,562 | 126,334 |
Commitments to extend credit for loans | 5,429 | 9,260 |
Commercial letters of credit | 54 | 185 |
Standby letters of credit | 2,185 | 3,982 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 3,811,438 | 1,686,787 |
Securities available for sale | 1,130,480 | 1,144,570 |
Trading securities | 819 | 2,384 |
Other securities | 10,925 | 10,782 |
Demand and savings deposits | 30,326,969 | 31,721,995 |
Other borrowings | 73,981 | 62,480 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 309,838 | 951,597 |
Securities available for sale | 5,538,135 | 5,861,777 |
Securities held to maturity (exclusive of allowance for credit losses) | 5,234,236 | 5,280,659 |
Trading securities | 28,068 | 15,596 |
Other securities | 417,224 | 338,976 |
Loans (exclusive of allowance for credit losses) | 22,295,499 | 20,816,899 |
Derivatives | 112,241 | 48,121 |
Time deposits | 3,200,832 | 917,138 |
Other borrowings | 3,776,602 | 2,159,687 |
Long-term debt | 415,254 | 418,737 |
Derivatives | $ 118,562 | $ 126,334 |