0001564590-21-009934 | 10-K | XBRL Viewer

Restrictions on Cash and Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2020

Cash And Cash Equivalents [Abstract]

Schedule of Reconciliation of Cash and Cash Equivalents

The following table provides a reconciliation of cash and cash equivalents reported within the consolidated statements of condition that sum to the total of the same such amounts shown in the consolidated statements of cash flows:

(dollars in thousands)	December 31, 2020		December 31, 2019
Interest-Bearing Deposits in Other Banks	$	1,646	$	4,979
Funds Sold		333,022		254,574
Cash and Due From Banks		279,420		299,105
Total Cash and Cash Equivalents	$	614,088	$	558,658

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest Income
Interest and Fees on Loans and Leases	$ 417,498	$ 439,012	$ 410,597
Income on Investment Securities
Available-for-Sale	61,294	62,174	50,152
Held-to-Maturity	66,055	81,616	84,310
Deposits	14	41	34
Funds Sold	902	3,553	3,723
Other	661	1,001	1,357
Total Interest Income	546,424	587,397	550,173
Interest Expense
Deposits	32,966	68,374	41,143
Securities Sold Under Agreements to Repurchase	15,281	17,522	18,519
Funds Purchased	95	840	609
Short-Term Borrowings	62	38	145
Other Debt	1,698	2,908	3,405
Total Interest Expense	50,102	89,682	63,821
Net Interest Income	496,322	497,715	486,352
Provision for Credit Losses	117,800	16,000	13,425
Net Interest Income After Provision for Credit Losses	378,522	481,715	472,927
Noninterest Income
Trust and Asset Management	43,456	44,233	43,877
Mortgage Banking	17,871	13,686	8,437
Service Charges on Deposit Accounts	24,910	30,074	28,811
Fees, Exchange, and Other Service Charges	47,056	57,893	57,482
Investment Securities Gains (Losses), Net	9,932	(3,986)	(3,938)
Annuity and Insurance	3,362	6,934	5,822
Bank-Owned Life Insurance	7,388	7,015	7,199
Other	30,434	27,489	21,233
Total Noninterest Income	184,409	183,338	168,923
Noninterest Expense
Salaries and Benefits	207,329	216,106	213,208
Net Occupancy	39,533	33,800	34,742
Net Equipment	35,448	29,295	23,852
Data Processing	18,499	18,757	17,846
Professional Fees	12,186	10,071	9,992
FDIC Insurance	5,780	5,192	7,732
Other	55,032	66,006	64,252
Total Noninterest Expense	373,807	379,227	371,624
Income Before Provision for Income Taxes	189,124	285,826	270,226
Provision for Income Taxes	35,320	59,913	50,624
Net Income	$ 153,804	$ 225,913	$ 219,602
Basic Earnings Per Share	$ 3.87	$ 5.59	$ 5.26
Diluted Earnings Per Share	3.86	5.56	5.23
Dividends Declared Per Share	$ 2.68	$ 2.59	$ 2.34
Basic Weighted Average Shares	39,726,210	40,384,328	41,714,770
Diluted Weighted Average Shares	39,892,107	40,649,570	41,999,399

Consolidated Statements of Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Held-to-Maturity: Fair Value	$ 3,348,693	$ 3,062,882
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, authorized (in shares)	500,000,000	500,000,000
Common Stock, issued (in shares)	58,285,624	58,166,910
Common Stock, outstanding (in shares)	40,119,312	40,039,695
Treasury Stock (in shares)	18,166,312	18,127,215

Affordable Housing Projects Tax Credit Partnerships (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments And Joint Ventures [Abstract]

Expected Payments for Unfunded Affordable Housing Commitments

As of December 31, 2020, the expected payments for unfunded affordable housing commitments were as follows:

(dollars in thousands)	Amount
2021	$	21,698
2022		6,571
2023		15,588
2024		171
2025		54
Thereafter		8,877
Total Unfunded Commitments	$	52,959

Schedule of Tax Credits and Other Tax Benefits Recognized and Amortization Expense Related to Affordable Housing

The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

(dollars in thousands)	2020		2019		2018
Effective Yield Method
Tax credits and other tax benefits recognized	$	11,752	$	11,719	$	13,572
Amortization Expense in Provision for Income Taxes		8,586		7,566		8,311

Proportional Amortization Method
Tax credits and other tax benefits recognized	$	6,633	$	3,014	$	1,641
Amortization Expense in Provision for Income Taxes		5,729		2,578		1,332

Loans and Leases and the Allowance for Credit Losses - Schedule of Amortized Cost Basis of Loans and Leases by Credit Quality Indicator, Loan Class, and Year of Origination (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	$ 3,669,902
2019	1,701,148
2018	1,078,600
2017	879,110
2016	932,627
Prior	1,545,761
Revolving Loans	2,091,726
Revolving Loans Converted to Term Loans	41,146
Total Loans and Leases	11,940,020
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2020	2,078,659
2019	764,275
2018	531,323
2017	315,087
2016	343,502
Prior	568,609
Revolving Loans	498,207
Revolving Loans Converted to Term Loans	1,024
Total Loans and Leases	5,100,686
Commercial \| Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2020	988,373
2019	150,800
2018	151,734
2017	50,162
2016	52,483
Prior	87,530
Revolving Loans	393,187
Revolving Loans Converted to Term Loans	1,024
Total Loans and Leases	1,875,293
Commercial \| Commercial and Industrial \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	944,463
2019	149,024
2018	149,468
2017	49,385
2016	52,354
Prior	68,269
Revolving Loans	342,339
Revolving Loans Converted to Term Loans	847
Total Loans and Leases	1,756,149
Commercial \| Commercial and Industrial \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2020	11,702
2019	42
2018	0
2017	0
2016	110
Prior	95
Revolving Loans	32,319
Revolving Loans Converted to Term Loans	52
Total Loans and Leases	44,320
Commercial \| Commercial and Industrial \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
2020	32,208
2019	1,734
2018	2,266
2017	777
2016	19
Prior	19,166
Revolving Loans	18,529
Revolving Loans Converted to Term Loans	125
Total Loans and Leases	74,824
Commercial \| Commercial Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
2020	963,839
2019	487,545
2018	353,437
2017	252,548
2016	281,267
Prior	439,324
Revolving Loans	76,869
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	2,854,829
Commercial \| Commercial Mortgage \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	847,676
2019	458,472
2018	350,363
2017	245,157
2016	267,860
Prior	425,157
Revolving Loans	76,869
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	2,671,554
Commercial \| Commercial Mortgage \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2020	66,523
2019	28,418
2018	291
2017	7,117
2016	8,665
Prior	5,035
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	116,049
Commercial \| Commercial Mortgage \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
2020	49,640
2019	655
2018	2,783
2017	274
2016	4,742
Prior	9,132
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	67,226
Commercial \| Construction
Financing Receivable, Credit Quality Indicator [Line Items]
2020	106,508
2019	105,731
2018	11,275
2017	8,133
2016	0
Prior	0
Revolving Loans	28,151
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	259,798
Commercial \| Construction \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	106,508
2019	105,731
2018	11,275
2017	8,133
2016	0
Prior	0
Revolving Loans	28,151
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	259,798
Commercial \| Lease Financing
Financing Receivable, Credit Quality Indicator [Line Items]
2020	19,939
2019	20,199
2018	14,877
2017	4,244
2016	9,752
Prior	41,755
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	110,766
Commercial \| Lease Financing \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	19,906
2019	20,132
2018	13,785
2017	4,202
2016	9,657
Prior	41,755
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	109,437
Commercial \| Lease Financing \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
2020	33
2019	67
2018	1,092
2017	42
2016	95
Prior	0
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	1,329
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1,591,243
2019	936,873
2018	547,277
2017	564,023
2016	589,125
Prior	977,152
Revolving Loans	1,593,519
Revolving Loans Converted to Term Loans	40,122
Total Loans and Leases	6,839,334
Consumer \| Residential Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1,300,831
2019	576,746
2018	295,522
2017	455,197
2016	545,798
Prior	956,419
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	4,130,513
Consumer \| Residential Mortgage \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1,300,831
2019	576,452
2018	295,522
2017	454,165
2016	545,798
Prior	954,120
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	4,126,888
Consumer \| Residential Mortgage \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	294
2018	0
2017	1,032
2016	0
Prior	2,299
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	3,625
Consumer \| Home Equity Loan
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	4,537
Revolving Loans	1,561,364
Revolving Loans Converted to Term Loans	38,637
Total Loans and Leases	1,604,538
Consumer \| Home Equity Loan \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	4,449
Revolving Loans	1,556,671
Revolving Loans Converted to Term Loans	37,559
Total Loans and Leases	1,598,679
Consumer \| Home Equity Loan \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	88
Revolving Loans	4,693
Revolving Loans Converted to Term Loans	1,078
Total Loans and Leases	5,859
Consumer \| Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
2020	219,319
2019	214,159
2018	158,387
2017	68,889
2016	34,060
Prior	13,986
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	708,800
Consumer \| Automobile \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	219,218
2019	213,914
2018	158,216
2017	68,776
2016	33,899
Prior	13,850
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	707,873
Consumer \| Automobile \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
2020	101
2019	245
2018	171
2017	113
2016	161
Prior	136
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	927
Consumer \| Other Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	71,093
2019	145,968
2018	93,368
2017	39,937
2016	9,267
Prior	2,210
Revolving Loans	32,155
Revolving Loans Converted to Term Loans	1,485
Total Loans and Leases	395,483
Consumer \| Other Loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	71,042
2019	145,549
2018	92,993
2017	39,770
2016	9,225
Prior	2,189
Revolving Loans	32,070
Revolving Loans Converted to Term Loans	1,485
Total Loans and Leases	394,323
Consumer \| Other Loans \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
2020	51
2019	419
2018	375
2017	167
2016	42
Prior	21
Revolving Loans	85
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	$ 1,160

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities
Net Income	$ 153,804	$ 225,913	$ 219,602
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Provision for Credit Losses	117,800	16,000	13,425
Depreciation and Amortization	20,205	17,268	14,389
Amortization of Deferred Loans and Leases (Fees) Costs, Net	(3,197)	476	(372)
Amortization and Accretion of Premiums/Discounts on Investment Securities, Net	27,586	20,683	32,966
Amortization of Operating Lease Right-of-Use-Assets	12,281	12,616
Share-Based Compensation	7,578	8,337	8,146
Benefit Plan Contributions	(1,615)	(1,926)	(1,749)
Deferred Income Taxes	(42,586)	(15,415)	(6,274)
Gains on Sale of Premises and Equipment	(1,850)	(558)
Impairment on Leveraged Lease	2,951
Impairment on ISB Closures and ATMs	4,168
Net Gains on Sales of Loans and Leases	(12,875)	(10,357)	(3,834)
Net (Gains) Losses on Investment Securities	(9,932)	3,986	3,938
Proceeds from Sales of Loans Held for Sale	394,196	487,436	275,943
Originations of Loans Held for Sale	(394,649)	(510,909)	(267,066)
Net Tax Benefits from Share-Based Compensation	485	727	993
Net Change in Other Assets and Other Liabilities	(127,934)	(20,039)	27,815
Net Cash Provided by Operating Activities	146,416	234,238	317,922
Investment Securities Available-for-Sale:
Proceeds from Sales, Prepayments and Maturities	1,003,432	1,873,700	358,244
Purchases	(2,114,912)	(1,456,901)	(166,915)
Investment Securities Held-to-Maturity:
Proceeds from Prepayments and Maturities	1,420,853	794,157	853,635
Purchases	(1,661,180)	(1,380,430)	(419,640)
Net Change in Loans and Leases	(990,169)	(550,533)	(664,692)
Premises and Equipment, Net	(33,287)	(53,900)	(35,300)
Proceeds from Sale of Premises and Equipment	1,981	639
Net Cash Used in Investing Activities	(2,373,282)	(773,268)	(74,668)
Financing Activities
Net Change in Deposits	2,427,147	757,241	143,273
Net Change in Short-Term Borrowings	(3,716)	99,811	(798)
Proceeds from Other Debt	50,000		50,000
Repayments of Other Debt	(75,084)	(50,078)	(175,000)
Proceeds from Issuance of Common Stock	9,389	7,872	7,873
Repurchase of Common Stock	(18,006)	(137,649)	(91,988)
Cash Dividends Paid	(107,434)	(105,478)	(98,496)
Net Cash Provided by (Used in) Financing Activities	2,282,296	571,719	(165,136)
Net Change in Cash and Cash Equivalents	55,430	32,689	78,118
Cash and Cash Equivalents at Beginning of Period	558,658	525,969	447,851
Cash and Cash Equivalents at End of Period	614,088	558,658	525,969
Supplemental Information
Cash Paid for Interest	53,026	89,894	62,515
Cash Paid for Income Taxes	60,182	58,152	42,475
Non-Cash Investing and Financing Activities:
Initial Recognition of Operating Lease Right-of-Use Assets		106,514
Initial Recognition of Operating Lease Liabilities		113,394
Transfer from Loans to Foreclosed Real Estate		$ 2,070	$ 2,693
Transfers from Loans to Loans Held for Sale	$ 32,423

Investment Securities - Schedule of AFS Debt Securities in an Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Less Than 12 Months, Fair Value	$ 165,159	$ 465,117
Less Than 12 Months, Gross Unrealized Losses	(876)	(2,189)
12 Months or Longer, Fair Value	318,953	474,384
12 Months or Longer, Gross Unrealized Losses	(1,499)	(7,587)
Total Fair Value	484,112	939,501
Total Gross Unrealized Losses	(2,375)	(9,776)
Debt Securities Issued by the U.S. Treasury and Government Agencies
Schedule Of Available For Sale Securities [Line Items]
Less Than 12 Months, Fair Value	87,070	65,479
Less Than 12 Months, Gross Unrealized Losses	(549)	(188)
12 Months or Longer, Fair Value	21,338	101,761
12 Months or Longer, Gross Unrealized Losses	(42)	(1,259)
Total Fair Value	108,408	167,240
Total Gross Unrealized Losses	(591)	(1,447)
Debt Securities Issued by States and Political Subdivisions
Schedule Of Available For Sale Securities [Line Items]
Less Than 12 Months, Fair Value	26	6,788
Less Than 12 Months, Gross Unrealized Losses	(1)	(14)
12 Months or Longer, Fair Value		440
Total Fair Value	26	7,228
Total Gross Unrealized Losses	(1)	(14)
Debt Securities Issued by Corporations
Schedule Of Available For Sale Securities [Line Items]
Less Than 12 Months, Fair Value	50,000	25,892
Less Than 12 Months, Gross Unrealized Losses	(103)	(326)
12 Months or Longer, Fair Value	65,000	74,693
12 Months or Longer, Gross Unrealized Losses	(853)	(307)
Total Fair Value	115,000	100,585
Total Gross Unrealized Losses	(956)	(633)
Residential - Government Agencies
Schedule Of Available For Sale Securities [Line Items]
Less Than 12 Months, Fair Value	28,063	119,271
Less Than 12 Months, Gross Unrealized Losses	(223)	(526)
12 Months or Longer, Fair Value	113,538	170,805
12 Months or Longer, Gross Unrealized Losses	(222)	(2,741)
Total Fair Value	141,601	290,076
Total Gross Unrealized Losses	(445)	(3,267)
Residential - U.S. Government-Sponsored Enterprises
Schedule Of Available For Sale Securities [Line Items]
Less Than 12 Months, Fair Value		187,861
Less Than 12 Months, Gross Unrealized Losses		(816)
12 Months or Longer, Fair Value	94,002	73,720
12 Months or Longer, Gross Unrealized Losses	(324)	(1,058)
Total Fair Value	94,002	261,581
Total Gross Unrealized Losses	(324)	(1,874)
Commercial - Government Agencies
Schedule Of Available For Sale Securities [Line Items]
Less Than 12 Months, Fair Value		59,826
Less Than 12 Months, Gross Unrealized Losses		(319)
12 Months or Longer, Fair Value	25,075	52,965
12 Months or Longer, Gross Unrealized Losses	(58)	(2,222)
Total Fair Value	25,075	112,791
Total Gross Unrealized Losses	(58)	(2,541)
Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Less Than 12 Months, Fair Value	28,063	366,958
Less Than 12 Months, Gross Unrealized Losses	(223)	(1,661)
12 Months or Longer, Fair Value	232,615	297,490
12 Months or Longer, Gross Unrealized Losses	(604)	(6,021)
Total Fair Value	260,678	664,448
Total Gross Unrealized Losses	$ (827)	$ (7,682)

Loans and Leases and the Allowance for Credit Losses - Schedule of Loans Modified in TDR (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) contract	Dec. 31, 2019 USD ($) contract
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract	548	441
Recorded Investment (as of period end)	$ 11,886	$ 28,116
Increase in Allowance (as of period end)	$ 262	$ 2,564
Commercial
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract	6	9
Recorded Investment (as of period end)	$ 1,249	$ 21,208
Increase in Allowance (as of period end)	$ 65	$ 2,465
Commercial \| Commercial and Industrial
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract	5	8
Recorded Investment (as of period end)	$ 203	$ 17,585
Increase in Allowance (as of period end)	$ 5	$ 2,465
Commercial \| Commercial Mortgage
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract	1	1
Recorded Investment (as of period end)	$ 1,046	$ 3,623
Increase in Allowance (as of period end)	$ 60
Consumer
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract	542	432
Recorded Investment (as of period end)	$ 10,637	$ 6,908
Increase in Allowance (as of period end)	$ 197	$ 99
Consumer \| Other
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract	180	95
Recorded Investment (as of period end)	$ 1,850	$ 572
Increase in Allowance (as of period end)	$ 77	$ 17
Consumer \| Residential Mortgage
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract		1
Recorded Investment (as of period end)		$ 57
Consumer \| Home Equity
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract	10	4
Recorded Investment (as of period end)	$ 1,246	$ 368
Increase in Allowance (as of period end)	$ 8	$ 9
Consumer \| Automobile
Financing Receivable Modifications [Line Items]
Number of Contracts \| contract	352	332
Recorded Investment (as of period end)	$ 7,541	$ 5,911
Increase in Allowance (as of period end)	$ 112	$ 73

Fair Value of Assets and Liabilities - Summary of the Significant Unobservable Inputs (Details) - Significant Other Unobservable Inputs (Level 3) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Discounted Cash Flow \| Interest Rate Swap Agreements
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	$ 72,933	$ 21,293
Discounted Cash Flow \| Weighted Average Discount Rate (as a percent)
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Mortgage Servicing Rights, Fair Value Inputs	0.0581	0.0733
Discounted Cash Flow \| Weighted Average Constant Prepayment Rate (as a percent)
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Mortgage Servicing Rights, Fair Value Inputs	0.1442
Discounted Cash Flow \| Weighted Average Credit Factor (as a percent) \| Interest Rate Swap Agreements
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.0029	0.0020
Discounted Cash Flow \| Mortgage Servicing Rights
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Mortgage Servicing Rights, at Fair Value	$ 19,652	$ 26,840
Discounted Cash Flow \| Mortgage Servicing Rights \| Weighted Average Constant Prepayment Rate (as a percent)
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Mortgage Servicing Rights, Fair Value Inputs		0.1076
Pricing Model \| Interest Rate Lock Commitments
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	$ 4,947	$ 1,280
Pricing Model \| Weighted Average Closing Ratio (as a percent) \| Interest Rate Lock Commitments
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.9076	0.9224
Minimum \| Discounted Cash Flow \| Weighted Average Discount Rate (as a percent)
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Mortgage Servicing Rights, Fair Value Inputs	0.0569
Minimum \| Discounted Cash Flow \| Weighted Average Credit Factor (as a percent) \| Interest Rate Swap Agreements
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.0000
Minimum \| Discounted Cash Flow \| Mortgage Servicing Rights
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities, Discount Rate	8.71%
Minimum \| Pricing Model \| Weighted Average Closing Ratio (as a percent) \| Interest Rate Lock Commitments
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.8410
Maximum \| Discounted Cash Flow \| Weighted Average Discount Rate (as a percent)
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Mortgage Servicing Rights, Fair Value Inputs	0.0628
Maximum \| Discounted Cash Flow \| Weighted Average Credit Factor (as a percent) \| Interest Rate Swap Agreements
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.0049
Maximum \| Discounted Cash Flow \| Mortgage Servicing Rights
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities, Discount Rate	15.89%
Maximum \| Pricing Model \| Weighted Average Closing Ratio (as a percent) \| Interest Rate Lock Commitments
Level3 Assets And Liabilities Fair Value And Fair Value Unobservable Inputs [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.9900

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Compensation Expense and Related Income Tax Benefit Recognized for All Share-Based Awards

For the years ended December 31, 2020, December 31, 2019, and December 31, 2018, compensation expense and the related income tax benefit recognized for stock options and restricted stock were as follows:

(dollars in thousands)		2020			2019		2018
Compensation Expense		$	7,578		$	8,338	$	8,146
Income Tax Benefit	2,009			2,210			2,160

Schedule of Activity for Restricted Stock

The following table presents the activity for restricted stock:

	Number of Shares			Weighted Average Grant Date Fair Value		Grant Date Fair Value of Restricted Stock that Vested During the Year (in thousands)
Unvested as of December 31, 2017		320,103		$	69.36
Granted		120,173			83.87
Vested		(110,231	)		59.41	$	9,081
Forfeited		(15,558	)		73.82
Unvested as of December 31, 2018		314,487		$	78.17
Granted		130,093			82.82
Vested		(107,759	)		66.46	$	8,910
Forfeited		(26,872	)		83.34
Unvested as of December 31, 2019		309,949		$	83.75
Granted		161,168			80.97
Vested		(99,894	)		84.69	$	8,544
Forfeited		(42,454	)		84.36
Unvested as of December 31, 2020 ¹		328,769		$	82.02

¹ As of December 31, 2020, 56,362 shares were unvested from service-based grants.

Schedule of Activity for Restricted Stock Units

The following table presents the activity for RSU:

	Number of Units			Weighted Average Grant Date Fair Value		Fair Value of Restricted Stock Unit that Vested During the Year (in thousands)
Balance as of December 31, 2017		116,489		$	60.22
Vested		(62,252	)		57.00	$	5,127
Forfeited		(2,173	)		63.92
Balance as of December 31, 2018		52,064		$	63.92
Vested		(52,064	)		82.23	$	4,311
Balance as of December 31, 2019		—		$	—

Schedule of Activity Related to Stock Options

The following table presents the activity related to stock options under all plans for the year ended December 31, 2020:

	Stock Options				Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)			Aggregate Intrinsic Value (in thousands)
Stock Options Outstanding as of January 1, 2020		237,058			$	45.44
Exercised		(53,004	)			45.99
Stock Options Outstanding as of December 31, 2020		184,054		45.28				1.0		$	5,768
Stock Options Vested and Exercisable as of December 31, 2020		184,054		45.28				1.0	5,768

Summary of Certain Stock Option Activity

The following summarizes certain stock option activity of the Company for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

(dollars in thousands)		2020			2019			2018
Intrinsic Value of Stock Options Exercised		$	2,261		$	1,106		$	1,634
Cash Received from Stock Options Exercised	2,438			1,473			1,791
Tax Benefits Realized from Stock Options Exercised	485			727			240

Other Assets

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets

Note 7. Other Assets

The components of the Company’s other assets as of December 31, 2020, and December 31, 2019, were as follows:

	December 31,
(dollars in thousands)	2020		2019
Federal Home Loan Bank and Federal Reserve Bank Stock	$	33,340	$	34,093
Derivative Financial Instruments		96,167		28,931
Low-Income Housing and Other Equity Investments		142,961		84,618
Deferred Compensation Plan Assets		53,410		41,464
Prepaid Expenses		14,517		15,140
Accounts Receivable		12,380		20,180
Deferred Tax Assets		16,724		—
Other		65,794		48,248
Total Other Assets	$	435,293	$	272,674

Investment Securities - Analysis of the Contractual Maturities of Investment Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis Rolling Maturity[Abstract]
Due in One Year or Less	$ 52,461
Due After One Year Through Five Years	46,727
Due After Five Years Through Ten Years	146,958
Amortized Cost, Total	246,146
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-Sale: Amortized Cost, Total	3,721,636	$ 2,607,636	$ 2,022,158
Due in One Year or Less	52,378
Due After One Year Through Five Years	47,767
Due After Five Years Through Ten Years	151,282
Fair Value, Total	251,427
Available-for-Sale: Fair Value	3,791,689	2,619,003	2,007,942
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis, Rolling Maturities (Abstract]
Due in One Year or Less	33,763
Due After One Year Through Five Years	19,531
Amortized Cost, Total	53,294
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Due in One Year or Less	34,504
Due After One Year Through Five Years	19,782
Fair Value, Total	54,286
Held-to-Maturity: Amortized Cost	3,262,727
Held-to-Maturity: Fair Value	3,348,693	3,062,882	3,413,994
Debt Securities Issued by Government Agencies
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities: Amortized Cost	173,505
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	173,325
Residential - Government Agencies
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities: Amortized Cost	1,561,603
Available-for-Sale: Amortized Cost, Total	1,561,603	1,164,466	189,645
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	1,594,815
Available-for-Sale: Fair Value	1,594,815	1,172,826	190,442
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Held-to-Maturity: Mortgage-Backed Securities: Amortized Cost	917,459
Held-to-Maturity: Mortgage-Backed Securities: Fair Value	948,010
Held-to-Maturity: Fair Value	948,010	1,075,315	1,813,987
Residential - U.S. Government-Sponsored Enterprises
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities: Amortized Cost	1,497,353
Available-for-Sale: Amortized Cost, Total	1,497,353	584,272	589,311
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	1,518,283
Available-for-Sale: Fair Value	1,518,283	586,761	578,527
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Held-to-Maturity: Mortgage-Backed Securities: Amortized Cost	2,099,053
Held-to-Maturity: Mortgage-Backed Securities: Fair Value	2,150,497
Held-to-Maturity: Fair Value	2,150,497	1,557,872	740,166
Commercial - Government Agencies
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities: Amortized Cost	243,029
Available-for-Sale: Amortized Cost, Total	243,029	224,372	63,864
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	253,839
Available-for-Sale: Fair Value	253,839	224,720	59,380
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Held-to-Maturity: Mortgage-Backed Securities: Amortized Cost	192,921
Held-to-Maturity: Mortgage-Backed Securities: Fair Value	195,900
Held-to-Maturity: Fair Value	195,900	83,148	171,363
Mortgage-Backed Securities
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities: Amortized Cost	3,301,985
Available-for-Sale: Amortized Cost, Total	3,301,985	1,973,110	842,820
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	3,366,937
Available-for-Sale: Fair Value	3,366,937	1,984,307	828,349
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Held-to-Maturity: Mortgage-Backed Securities: Amortized Cost	3,209,433
Held-to-Maturity: Mortgage-Backed Securities: Fair Value	3,294,407
Held-to-Maturity: Fair Value	$ 3,294,407	$ 2,716,335	$ 2,725,516

Mortgage Servicing Rights - Schedule of Sensitivity Analysis of the Fair Value (Details) - Mortgage Servicing Rights - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Constant Prepayment Rate
Decrease in fair value from 25 basis points (“bps”) adverse change	$ (203)	$ (296)
Decrease in fair value from 50 bps adverse change	(401)	(586)
Discount Rate
Decrease in fair value from 25 bps adverse change	(184)	(264)
Decrease in fair value from 50 bps adverse change	$ (365)	$ (522)

Income Taxes - Schedule of Reconciliation of the Company's Liability for Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of liability for Unrecognized Tax Benefits
Unrecognized Tax Benefits at Beginning of Year	$ 6,120	$ 5,541	$ 5,292
Gross Increases, Related to Tax Positions Taken in a Prior Period	374	673	157
Gross Increases, Related to Current Period Tax Positions	222	715	885
Lapse of Statute of Limitations	(1,313)	(809)	(793)
Unrecognized Tax Benefits at End of Year	$ 5,403	$ 6,120	$ 5,541

Deposits - Schedule of Time Deposits with Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Time deposits classified according to the contractual maturities
2021	$ 1,488,523
2022	98,656
2023	49,947
2024	11,006
2025	7,203
Thereafter	6,728
Total	1,662,063	$ 1,802,431
Time deposits with balances of $100,000 or more, classified according to the contractual maturities
Three Months or Less	527,079
Over Three Months through Six Months	207,675
Over Six Months through Twelve Months	574,479
Over Twelve Months	79,149
Total	$ 1,388,382	$ 1,500,000

Mortgage Servicing Rights - Summary of Carrying Value Under the Fair Value Measurement Method (Details) - Mortgage Servicing Rights - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Servicing Assets At Fair Value [Line Items]
Balance at Beginning of Year	$ 1,126	$ 1,290	$ 1,454
Due to Payoffs	(168)	(164)	(164)
Total Changes in Fair Value of Mortgage Servicing Rights	(168)	(164)	(164)
Balance at End of Year	$ 958	$ 1,126	$ 1,290

Derivative Financial Instruments - Schedule of the Notional Amount and Fair Value of the Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Interest Rate Lock Commitments
Derivative [Line Items]
Notional Amount	$ 102,881	$ 48,677
Fair Value	4,947	1,280
Forward Commitments
Derivative [Line Items]
Notional Amount	158,759	82,735
Fair Value	(740)	(182)
Receive Fixed / Pay Variable Swap
Derivative [Line Items]
Notional Amount	1,362,778	802,389
Fair Value	90,130	26,070
Pay Fixed / Receive Variable Swap
Derivative [Line Items]
Notional Amount	1,362,778	802,389
Fair Value	(17,197)	(4,777)
Foreign Exchange Contracts
Derivative [Line Items]
Notional Amount	90,587	85,499
Fair Value	866	163
Visa Conversion Rate Swap Agreement
Derivative [Line Items]
Notional Amount	133,286	114,499
Fair Value	$ 0	$ 0

Employee Benefits - Schedule of the Fair Values of the Retirement Plan Assets by Asset Category (Details) - Pension Benefits - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 97,890	$ 93,638	$ 85,553
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	97,890
Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,079	1,269
Cash \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,079
Equity Securities - Large Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,849	1,731
Equity Securities - Large Cap \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,849
Equity Security - Mutual Funds: Mixed-Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29,802	29,336
Equity Security - Mutual Funds: Mixed-Cap \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29,802
Equity Security - Mutual Funds: International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	28,055	23,961
Equity Security - Mutual Funds: International \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	28,055
Equity Security - Mutual Funds: Emerging Market
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,494	2,342
Equity Security - Mutual Funds: Emerging Market \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,494
Fixed Income - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	34,611	$ 34,999
Fixed Income - Mutual Funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 34,611

Share-Based Compensation - Schedule of Activity Related to Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock Options
Stock Options Outstanding, Beginning Balance	237,058
Exercised	(53,004)
Stock Options Outstanding, Ending Balance	184,054
Stock Options Vested and Exercisable as of December 31, 2020	184,054
Weighted Average Exercise Price
Outstanding Beginning Balance	$ 45.28	$ 45.44
Exercised	45.99
Stock Options Vested and Exercisable as of December 31, 2020	$ 45.28
Weighted Average Remaining Contractual Term
Stock Options Outstanding as of December 31, 2020	1 year
Stock Options Vested and Exercisable as of December 31, 2020	1 year
Aggregate Intrinsic Value
Stock Options Outstanding as of December 31, 2020	$ 5,768
Stock Options Vested and Exercisable as of December 31, 2020	$ 5,768

Affordable Housing Projects Tax Credit Partnerships - Tax Credits and Other Tax Benefits Recognized and Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Yield Method
Tax credits and other tax benefits recognized	$ 11,752	$ 11,719	$ 13,572
Amortization Expense in Provision for Income Taxes	8,586	7,566	8,311
Proportional Amortization Method
Tax credits and other tax benefits recognized	6,633	3,014	1,641
Amortization Expense in Provision for Income Taxes	$ 5,729	$ 2,578	$ 1,332

Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2020

Offsetting [Abstract]

Remaining Contractual Maturities of Repurchase Agreements by Class of Collateral Pledged

The following table presents the remaining contractual maturities of the Company’s repurchase agreements as of December 31, 2020, and December 31, 2019, disaggregated by the class of collateral pledged.

	Remaining Contractual Maturity of Repurchase Agreements
(dollars in thousands)	Up to 90 days		91-365 days		1-3 Years		After 3 Years		Total
December 31, 2020
Class of Collateral Pledged:
Debt Securities Issued by States and Political Subdivisions	$	100	$	—	$	—	$	490	$	590
Mortgage-Backed Securities:
Residential - Government Agencies		—		—		83,599		20,210		103,809
Residential - U.S. Government-Sponsored Enterprises		—		—		491,401		4,790		496,191
Total	$	100	$	—	$	575,000	$	25,490	$	600,590

December 31, 2019
Class of Collateral Pledged:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	—	$	—	$	199,173	$	38,065	$	237,238
Debt Securities Issued by States and Political Subdivisions		1,200		1,100		—		490		2,790
Mortgage-Backed Securities:
Residential - Government Agencies		—		1,516		25,827		88,391		115,734
Residential - U.S. Government-Sponsored Enterprises		—		—		—		248,544		248,544
Total	$	1,200	$	2,616	$	225,000	$	375,490	$	604,306

Schedule of Assets and Liabilities Subject to an Enforceable Master Netting Arrangement or Repurchase Agreements

The following table presents the assets and liabilities subject to an enforceable master netting arrangement, or repurchase agreements, as of December 31, 2020, and December 31, 2019. The swap agreements we have with our commercial banking customers are not subject to an enforceable master netting arrangement, and therefore, are excluded from this table. As previously mentioned, centrally cleared swap agreements between the Company and institutional counterparties are also excluded from this table.

	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v) = (iii)- (iv)
							Gross Amounts Not Offset in the Statements of Condition
(dollars in thousands)	Gross Amounts Recognized in the Statements of Condition		Gross Amounts Offset in the Statements of Condition		Net Amounts Presented in the Statements of Condition		Netting Adjustments per Master Netting Arrangements		Fair Value of Collateral Pledged ¹		Net Amount
December 31, 2020
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	5	$	—	$	5	$	5	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties		17,202		—		17,202		5		7,911		9,286

Repurchase Agreements:
Private Institutions		600,000		—		600,000		—		600,000		—
Government Entities		590		—		590		—		590		—
Total Repurchase Agreements	$	600,590	$	—	$	600,590	$	—	$	600,590	$	—

December 31, 2019
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	584	$	—	$	584	$	584	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties		5,361		—		5,361		584		3,818		959

Repurchase Agreements:
Private Institutions		600,000		—		600,000		—		600,000		—
Government Entities		4,306		—		4,306		—		4,306		—
Total Repurchase Agreements	$	604,306	$	—	$	604,306	$	—	$	604,306	$	—

The application of collateral cannot reduce the net amount below zero. Therefore, excess collateral is not reflected in this table. For repurchase agreements with private institutions, the fair value of investment securities pledged was $635.2 million and $645.3 million as of December 31, 2020, and December 31, 2019, respectively. For repurchase agreements with government entities, the fair value of investment securities pledged was $2.5 million and $5.5 million as of December 31, 2020, and December 31, 2019, respectively.

Investment Securities - Schedule of Carrying Value of Federal Home Loan Bank of Des Moines Stock and Federal Reserve Bank Stock (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Federal Home Loan Bank Stock	$ 12,000	$ 13,000
Federal Reserve Bank Stock	21,340	21,093
Total	$ 33,340	$ 34,093

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 16. Income Taxes

Provision for Income Taxes

The components of the Company’s provision for income taxes for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, were as follows:

(dollars in thousands)	2020			2019			2018
Current:
Federal	$	65,840		$	60,902		$	45,464
State		12,066			14,426			11,434
Total Current		77,906			75,328			56,898
Deferred:
Federal		(31,783	)		(9,630	)		(2,172	)
State		(10,803	)		(5,785	)		(4,102	)
Total Deferred		(42,586	)		(15,415	)		(6,274	)
Provision for Income Taxes	$	35,320		$	59,913		$	50,624

The tax effects of fair value adjustments on AFS investment securities, the amortization of unrealized gains and losses related to investment securities transferred to HTM, and the minimum pension liability adjustment are recorded directly to consolidated shareholders’ equity. The Company elected to adopt ASU No. 2016-09 “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” in the first quarter of 2017, which requires the Company to record excess tax benefits related to stock options as a reduction of the provision for income taxes, whereas they were previously recognized in equity. The net tax charge recorded directly to consolidated shareholders’ equity was $16.2 million and $7.1 million for the year ended December 31, 2020, and December 31, 2019, respectively. The net tax benefit recorded directly to consolidated shareholders’ equity was $3.2 million for the year ended December 31, 2018.

Deferred Tax Liabilities and Assets

As of December 31, 2020, and December 31, 2019, significant components of the Company’s deferred tax liabilities and assets were as follows:

	December 31,
(dollars in thousands)	2020			2019
Deferred Tax Liabilities:
Accelerated Depreciation	$	(8,042	)	$	(4,064	)
Accrued Pension Cost		(11,270	)		(11,270	)
Federal Home Loan Bank Stock		(3,416	)		(3,416	)
Lease Transactions		(41,726	)		(48,487	)
Operating Lease Right-of-Use Assets		(26,387	)		(26,731	)
Energy Tax Credits		(674	)		(2,370	)
Net Unrealized Gains on Investments Securities		(18,407	)		(2,751	)
Investment in Variable Interest Entities		(2,725	)		(3,783	)
Deferred Loan Fees		(4,736	)		(6,498	)
Originated Mortgage Servicing Rights		(5,579	)		(6,840	)
Other		(1,124	)		(1,597	)
Gross Deferred Tax Liabilities		(124,086	)		(117,807	)
Deferred Tax Assets:
Allowance for Credit Losses		57,840			30,951
Minimum Pension Liability		13,430			13,980
Accrued Expenses		17,629			18,159
Postretirement Benefit Obligations		7,980			8,130
Capital Lease Expenses		2,168			2,171
Operating Lease Liabilities		28,473			28,685
Restricted Stock		3,669			4,369
Deductible State and Local Taxes		3,366			3,558
Low Income Housing Investments		3,648			2,157
Other		6,204			6,236
Gross Deferred Tax Assets Before Valuation Allowance		144,407			118,396
Valuation Allowance		(3,597	)		(2,460	)
Gross Deferred Tax Assets After Valuation Allowance		140,810			115,936
Net Deferred Tax Assets (Liabilities)	$	16,724		$	(1,871	)

Both positive and negative evidence were considered by management in determining the need for a valuation allowance. Negative evidence included the uncertainty regarding the generation of capital gains in future years and restrictions on the ability to sell low-income housing investments during periods when carrybacks/ carryforwards of capital losses are allowed. Positive evidence included capital gains in the carryback years. After considering all available evidence, management determined that a valuation allowance to offset deferred tax assets related to low-income housing investments that can only be used to offset capital gains was appropriate. Management determined that a valuation allowance was not required for the remaining deferred tax assets because it is more likely than not these assets will be realized through future reversals of existing taxable temporary difference and future taxable income exclusive of reversing temporary differences. As of December 31, 2020, and December 31, 2019, we carried a valuation allowance of $3.6 million and $2.5 million, respectively, related to our deferred tax assets established in connection with our low-income housing investments.

Certain events covered by Internal Revenue Code Section 593(e) will trigger a recapture of base year reserves of acquired thrift institutions. The base year reserves of acquired thrift institutions would be recaptured if an entity ceases to qualify as a bank for federal income tax purposes. The base year reserves of thrift institutions also remain subject to income tax penalty provisions that, in general, require recapture upon certain stock redemptions of, and excess distributions to, shareholders. As of December 31, 2020, retained earnings included $18.2 million of base year reserves for which the deferred federal income tax liability of $4.8 million has not been recognized.

Effective Tax Rate

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

	2020			2019			2018
Statutory Federal Income Tax Rate		21.00	%		21.00	%		21.00	%
Increase (Decrease) in Income Tax Rate Resulting From:
State Taxes, Net of Federal Income Tax		0.81			2.53			2.29
Tax Reserve Adjustments		0.07			(0.03	)		—
Low-Income Housing Investments- Federal		0.82			0.60			0.22
Investment Tax Credits- Federal		(1.24	)		(0.84	)		(1.04	)
Bank-Owned Life Insurance		(0.82	)		(0.51	)		(0.55	)
Tax-Exempt Income		(0.50	)		(0.53	)		(1.29	)
Excess Tax Benefits - Stock Compensation		(0.07	)		(0.22	)		(0.34	)
Leveraged Lease		(0.56	)		(1.54	)		(0.83	)
Tax Reform Effects		—			—			(0.75	)
Other		(0.83	)		0.50			0.02
Effective Tax Rate		18.68	%		20.96	%		18.73	%

Unrecognized Tax Benefits

The Company is required to record a liability, referred to as an unrecognized tax benefit (“UTB”), for the entire amount of benefit taken in a prior or future income tax return when the Company determines that a tax position has a less than 50% likelihood of being accepted by the taxing authority. The following presents a reconciliation of the Company’s liability for UTBs for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

(dollars in thousands)	2020			2019			2018
Unrecognized Tax Benefits at Beginning of Year	$	6,120		$	5,541		$	5,292
Gross Increases, Related to Tax Positions Taken in a Prior Period		374			673			157
Gross Increases, Related to Current Period Tax Positions		222			715			885
Lapse of Statute of Limitations		(1,313	)		(809	)		(793	)
Unrecognized Tax Benefits at End of Year	$	5,403		$	6,120		$	5,541

As of December 31, 2020, and December 31, 2019, $5.4 million and $6.1 million, respectively, in liabilities for UTBs were related to UTBs that if reversed would have an impact on the Company’s effective tax rate.

Management believes that it is reasonably possible that the Company’s liability for UTBs could further decrease as a result of the expiration of statutes of limitations within the next 12 months. However, management is currently not able to estimate a range of possible change in the amount of the liability for UTBs recorded as of December 31, 2020.

The Company classifies interest and penalties, if any, related to the liability for UTBs as a component of the provision for income taxes. For the year ended December 31, 2020, the Company recorded a net tax provision of less than $0.1 million for interest and penalties. For the years ended December 31, 2019, and December 31, 2018, the Company recorded a net tax benefit of less than $0.5 million and a net tax benefit of less than $0.1 million, respectively, for interest and penalties. As of December 31, 2020, and December 31, 2019, the Company had accrued $1.5 million and $1.4 million, respectively, for the payment of possible interest and penalties.

The federal tax returns for 2017 through 2019 remain subject to examination. The Company's State of Hawaii income tax returns for 2017 through 2019 remain subject to examination by the taxing authorities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders Equity Note [Abstract]

Schedule of Minimum Required Capital Amounts and Ratios for Well Capitalized Institutions and The Actual Capital Amounts and Ratios for The Company and The Bank

The table below sets forth the minimum required capital amounts and ratios for well capitalized institutions and the actual capital amounts and ratios for the Company and the Bank as of December 31, 2020, and December 31, 2019:

(dollars in thousands)	Well Capitalized Minimum Ratio			Company			Bank
As of December 31, 2020
Shareholders’ Equity				$	1,374,507		$	1,290,455
Common Equity Tier 1 Capital					1,361,915			1,289,435
Tier 1 Capital					1,361,915			1,289,435
Total Capital					1,503,784			1,431,106
Common Equity Tier 1 Capital Ratio		6.5	%		12.06	%		11.43	%
Tier 1 Capital Ratio		8.0	%		12.06	%		11.43	%
Total Capital Ratio		10.0	%		13.31	%		12.69	%
Tier 1 Leverage Ratio		5.0	%		6.71	%		6.35	%

As of December 31, 2019
Shareholders’ Equity				$	1,286,832		$	1,229,775
Common Equity Tier 1 Capital					1,289,424			1,243,939
Tier 1 Capital					1,289,424			1,243,939
Total Capital					1,406,273			1,360,788
Common Equity Tier 1 Capital Ratio		6.5	%		12.18	%		11.76	%
Tier 1 Capital Ratio		8.0	%		12.18	%		11.76	%
Total Capital Ratio		10.0	%		13.28	%		12.87	%
Tier 1 Leverage Ratio		5.0	%		7.25	%		7.01	%

Components of Other Comprehensive Income

The following table presents the components of other comprehensive income (loss), net of tax:

(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Year Ended December 31, 2020
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	58,763		$	15,600		$	43,163
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale		(77	)		(50	)		(27	)
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities ¹		397			105			292
Net Unrealized Gains (Losses) on Investment Securities		59,083			15,655			43,428
Defined Benefit Plans:
Net Actuarial Gains (Losses) Arising During the Period		(8,187	)		(2,170	)		(6,017	)
Amortization of Net Actuarial Losses (Gains)		2,318			614			1,704
Amortization of Prior Service Credit		(246	)		(65	)		(181	)
Defined Benefit Plans, Net		(6,115	)		(1,621	)		(4,494	)
Other Comprehensive Income (Loss)	$	52,968		$	14,034		$	38,934

Year Ended December 31, 2019
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	30,169		$	8,001		$	22,168
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale		(152	)		(49	)		(103	)
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities ¹		833			221			612
Net Unrealized Gains (Losses) on Investment Securities		30,850			8,173			22,677
Defined Benefit Plans:
Net Actuarial Gains (Losses) Arising During the Period		(5,046	)		(1,337	)		(3,709	)
Amortization of Net Actuarial Losses (Gains)		1,598			423			1,175
Amortization of Prior Service Credit		(288	)		(76	)		(212	)
Defined Benefit Plans, Net		(3,736	)		(990	)		(2,746	)
Other Comprehensive Income (Loss)	$	27,114		$	7,183		$	19,931

Year Ended December 31, 2018
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	(11,051	)	$	(2,931	)	$	(8,120	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities¹		2,164			569			1,595
Net Unrealized Gains (Losses) on Investment Securities		(8,887	)		(2,362	)		(6,525	)
Defined Benefit Plans:
Net Actuarial Gains (Losses) Arising During the Period		(4,468	)		(1,184	)		(3,284	)
Amortization of Net Actuarial Losses (Gains)		1,835			460			1,375
Amortization of Prior Service Credit		(567	)		(150	)		(417	)
Defined Benefit Plans, Net		(3,200	)		(874	)		(2,326	)
Other Comprehensive Income (Loss)	$	(12,087	)	$	(3,236	)	$	(8,851	)

The amount relates to the amortization/accretion of unrealized gains and losses related to the Company's reclassification of available-for-sale investment securities to the held-to-maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax:

(dollars in thousands)	Investment Securities- Available- For-Sale			Investment Securities- Held-To- Maturities			Defined Benefit Plans			Accumulated Other Comprehensive Income (Loss)
Year Ended December 31, 2020
Balance at Beginning of Period	$	8,359		$	(715	)	$	(38,756	)	$	(31,112	)
Other Comprehensive Income (Loss) Before Reclassifications		43,163			—			(6,017	)		37,146
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		(27	)		292			1,523			1,788
Total Other Comprehensive Income (Loss)		43,136			292			(4,494	)		38,934
Balance at End of Period	$	51,495		$	(423	)	$	(43,250	)	$	7,822

Year Ended December 31, 2019
Balance at Beginning of Period	$	(10,447	)	$	(4,586	)	$	(36,010	)	$	(51,043	)
Other Comprehensive Income (Loss) Before Reclassifications		22,168			—			(3,709	)		18,459
Cumulative Effect of ASU 2019-04		(3,259	)		3,259			—			—
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		(103	)		612			963			1,472
Total Other Comprehensive Income (Loss)		18,806			3,871			(2,746	)		19,931
Balance at End of Period	$	8,359		$	(715	)	$	(38,756	)	$	(31,112	)

Year Ended December 31, 2018
Balance at Beginning Period	$	(1,915	)	$	(5,085	)	$	(27,715	)	$	(34,715	)
Other Comprehensive Income (Loss) Before Reclassifications		(8,120	)		—			(3,284	)		(11,404	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		—			1,595			958			2,553
Total Other Comprehensive Income (Loss)		(8,120	)		1,595			(2,326	)		(8,851	)
Reclassification of the Income Tax Effects of the Tax Act from AOCI		(412	)		(1,096	)		(5,969	)		(7,477	)
Balance at End of Period	$	(10,447	)	$	(4,586	)	$	(36,010	)	$	(51,043	)

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss):

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)¹									Affected Line Item in the Statement Where Net Income Is Presented
(dollars in thousands)	Year Ended December 31,
	2020			2019			2018
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(397	)	$	(833	)	$	(2,164	)	Interest Income
		105			221			569		Provision for Income Tax
		(292	)		(612	)		(1,595	)	Net of Tax
Sales of Investment Securities Available-for-Sale		77			152			—		Investment Securities Gains (Losses), Net
		(50	)		(49	)		—		Provision for Income Tax
		27			103			—		Net of Tax

Amortization of Defined Benefit Plans Items
Prior Service Credit ²		246			288			567
Net Actuarial Losses ²		(2,318	)		(1,598	)		(1,835	)
		(2,072	)		(1,310	)		(1,268	)	Total Before Tax
		549			347			310		Provision for Income Tax
		(1,523	)		(963	)		(958	)	Net of Tax

Total Reclassifications for the Period	$	(1,788	)	$	(1,472	)	$	(2,553	)	Net of Tax

¹	^{Amounts in parentheses indicate reductions to net income.}

²	^{These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost and are included in Other Noninterest Expense on the consolidated statements of income (see Note 14 Pension Plans and Postretirement Benefit Plan for additional details).}

Investment Securities - Schedule of Gains and Losses From Sales of Investment Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Gross Gains on Sales of Investment Securities	$ 14,257	$ 7,810
Gross Losses on Sales of Investment Securities	(4,325)	(11,796)	$ (3,938)
Net Gains (Losses) on Sales of Investment Securities	$ 9,932	$ (3,986)	$ (3,938)

Bank of Hawaii Corporation Financial Statements - Schedule of Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities
Net Income	$ 153,804	$ 225,913	$ 219,602
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Share-Based Compensation	7,578	8,337	8,146
Net (Gains) Losses on Investment Securities	(9,932)	3,986	3,938
Net Change in Other Assets and Other Liabilities	(127,934)	(20,039)	27,815
Net Cash Provided by Operating Activities	146,416	234,238	317,922
Investing Activities
Purchases	(1,661,180)	(1,380,430)	(419,640)
Net Cash Used in Investing Activities	(2,373,282)	(773,268)	(74,668)
Financing Activities
Proceeds from Issuance of Common Stock	9,389	7,872	7,873
Repurchase of Common Stock	(18,006)	(137,649)	(91,988)
Cash Dividends Paid	(107,434)	(105,478)	(98,496)
Net Cash Provided by (Used in) Financing Activities	2,282,296	571,719	(165,136)
Net Change in Cash and Cash Equivalents	55,430	32,689	78,118
Cash and Cash Equivalents at Beginning of Period	558,658	525,969	447,851
Cash and Cash Equivalents at End of Period	614,088	558,658	525,969
Parent Company
Operating Activities
Net Income	153,804	225,913	219,602
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Share-Based Compensation	795	760	630
Net (Gains) Losses on Investment Securities	(13,336)	850	819
Equity in Undistributed Income of Subsidiaries	(11,331)	(7,134)	(35,429)
Net Change in Other Assets and Other Liabilities	(68)	(135)	870
Net Cash Provided by Operating Activities	129,864	220,254	186,492
Investing Activities
Proceeds from (Expenses related to) Sales of Investment Securities	18,336	4,259	(819)
Purchases	(2,501)	(4,933)
Net Cash Used in Investing Activities	15,835	(674)	(819)
Financing Activities
Proceeds from Issuance of Common Stock	9,389	7,872	7,873
Repurchase of Common Stock	(18,006)	(137,649)	(91,988)
Cash Dividends Paid	(107,434)	(105,478)	(98,496)
Net Cash Provided by (Used in) Financing Activities	(116,051)	(235,255)	(182,611)
Net Change in Cash and Cash Equivalents	29,648	(15,675)	3,062
Cash and Cash Equivalents at Beginning of Period	37,056	52,731	49,669
Cash and Cash Equivalents at End of Period	$ 66,704	$ 37,056	$ 52,731

Share-Based Compensation

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

Note 15. Share-Based Compensation

The Company has share-based compensation plans which allow grants of stock options, restricted stock, stock appreciation rights, and restricted stock units to its employees and non-employee directors. The Company’s employee stock option plans are shareholder approved and administered by the Human Resources and Compensation Committee of the Board of Directors. Stock options provide grantees the option to purchase shares of the Parent’s common stock at a specified exercise price and, generally, expire 10 years from the date of grant. Stock option grants include incentive and non-qualified stock options whose vesting may be subject to one or more criteria, including employment or achievement of Company performance measures. Stock option exercise prices were equal to the quoted market price of the Parent’s common stock on the date of grant. Restricted stock provides grantees with rights to shares of common stock upon completion of one or more criteria, including service period, performance or other conditions as established by the Compensation Committee, such as vesting tied to the Company’s financial performance relative to the peer group or achievement of an absolute financial performance target. During the restriction period, all shares are considered outstanding and dividends are paid on the restricted stock. Generally, restricted stock vests over periods ranging from one year to four years from the date of grant. Restricted stock and dividends may be forfeited if an employee terminates prior to vesting.

As of December 31, 2020, total shares authorized under the plans were 2.1 million shares, of which 1.6 million shares were available for future grants.

The Company recognizes compensation expense, measured as the fair value of the share-based award on the date of grant, on a straight-line basis over the requisite service period. Share-based compensation is recorded in the statements of income as a component of salaries and benefits for employees and as a component of other noninterest expense for non-employee directors, with a corresponding increase to capital surplus in shareholders’ equity. For the years ended December 31, 2020, December 31, 2019, and December 31, 2018, compensation expense and the related income tax benefit recognized for stock options and restricted stock were as follows:

(dollars in thousands)		2020			2019		2018
Compensation Expense		$	7,578		$	8,338	$	8,146
Income Tax Benefit	2,009			2,210			2,160

Restricted Stock

As of December 31, 2020, unrecognized compensation expense related to unvested restricted stock was $12.9 million. The unrecognized compensation expense is expected to be recognized over a weighted average period of 2.05 years.

The following table presents the activity for restricted stock:

	Number of Shares			Weighted Average Grant Date Fair Value		Grant Date Fair Value of Restricted Stock that Vested During the Year (in thousands)
Unvested as of December 31, 2017		320,103		$	69.36
Granted		120,173			83.87
Vested		(110,231	)		59.41	$	9,081
Forfeited		(15,558	)		73.82
Unvested as of December 31, 2018		314,487		$	78.17
Granted		130,093			82.82
Vested		(107,759	)		66.46	$	8,910
Forfeited		(26,872	)		83.34
Unvested as of December 31, 2019		309,949		$	83.75
Granted		161,168			80.97
Vested		(99,894	)		84.69	$	8,544
Forfeited		(42,454	)		84.36
Unvested as of December 31, 2020 ¹		328,769		$	82.02

¹ As of December 31, 2020, 56,362 shares were unvested from service-based grants.

Restricted Stock Units

There were no RSUs granted during 2020, 2019, and 2018. All RSUs were fully vested as of December 31, 2019. The RSUs vest over periods ranging from three years to four years from the date of grant and are subject to forfeiture until performance and employment targets are achieved. Upon vesting, the RSUs are converted to cash based on the closing stock price on the vesting date. During December 31, 2020, there was no recognized compensation expense related to RSUs. Total recognized compensation expense related to the RSUs was $1.0 million for the years ended December 31, 2019, and $0.6 million for the years ended December 31, 2018, respectively.

The following table presents the activity for RSU:

	Number of Units			Weighted Average Grant Date Fair Value		Fair Value of Restricted Stock Unit that Vested During the Year (in thousands)
Balance as of December 31, 2017		116,489		$	60.22
Vested		(62,252	)		57.00	$	5,127
Forfeited		(2,173	)		63.92
Balance as of December 31, 2018		52,064		$	63.92
Vested		(52,064	)		82.23	$	4,311
Balance as of December 31, 2019		—		$	—

Stock Options

There were no stock options granted for the years ended December 31, 2020, December 31, 2019, and December 31, 2018. All previously issued stock options granted were fully vested prior to December 31, 2018. The Company reissues treasury stock to satisfy stock option exercises.

The following table presents the activity related to stock options under all plans for the year ended December 31, 2020:

	Stock Options				Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)			Aggregate Intrinsic Value (in thousands)
Stock Options Outstanding as of January 1, 2020		237,058			$	45.44
Exercised		(53,004	)			45.99
Stock Options Outstanding as of December 31, 2020		184,054		45.28				1.0		$	5,768
Stock Options Vested and Exercisable as of December 31, 2020		184,054		45.28				1.0	5,768

The following summarizes certain stock option activity of the Company for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

(dollars in thousands)		2020			2019			2018
Intrinsic Value of Stock Options Exercised		$	2,261		$	1,106		$	1,634
Cash Received from Stock Options Exercised	2,438			1,473			1,791
Tax Benefits Realized from Stock Options Exercised	485			727			240

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of the Company's Provision for Income Taxes

The components of the Company’s provision for income taxes for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, were as follows:

(dollars in thousands)	2020			2019			2018
Current:
Federal	$	65,840		$	60,902		$	45,464
State		12,066			14,426			11,434
Total Current		77,906			75,328			56,898
Deferred:
Federal		(31,783	)		(9,630	)		(2,172	)
State		(10,803	)		(5,785	)		(4,102	)
Total Deferred		(42,586	)		(15,415	)		(6,274	)
Provision for Income Taxes	$	35,320		$	59,913		$	50,624

Schedule of Significant Components of the Company's Deferred Tax Liabilities and Assets

As of December 31, 2020, and December 31, 2019, significant components of the Company’s deferred tax liabilities and assets were as follows:

	December 31,
(dollars in thousands)	2020			2019
Deferred Tax Liabilities:
Accelerated Depreciation	$	(8,042	)	$	(4,064	)
Accrued Pension Cost		(11,270	)		(11,270	)
Federal Home Loan Bank Stock		(3,416	)		(3,416	)
Lease Transactions		(41,726	)		(48,487	)
Operating Lease Right-of-Use Assets		(26,387	)		(26,731	)
Energy Tax Credits		(674	)		(2,370	)
Net Unrealized Gains on Investments Securities		(18,407	)		(2,751	)
Investment in Variable Interest Entities		(2,725	)		(3,783	)
Deferred Loan Fees		(4,736	)		(6,498	)
Originated Mortgage Servicing Rights		(5,579	)		(6,840	)
Other		(1,124	)		(1,597	)
Gross Deferred Tax Liabilities		(124,086	)		(117,807	)
Deferred Tax Assets:
Allowance for Credit Losses		57,840			30,951
Minimum Pension Liability		13,430			13,980
Accrued Expenses		17,629			18,159
Postretirement Benefit Obligations		7,980			8,130
Capital Lease Expenses		2,168			2,171
Operating Lease Liabilities		28,473			28,685
Restricted Stock		3,669			4,369
Deductible State and Local Taxes		3,366			3,558
Low Income Housing Investments		3,648			2,157
Other		6,204			6,236
Gross Deferred Tax Assets Before Valuation Allowance		144,407			118,396
Valuation Allowance		(3,597	)		(2,460	)
Gross Deferred Tax Assets After Valuation Allowance		140,810			115,936
Net Deferred Tax Assets (Liabilities)	$	16,724		$	(1,871	)

Schedule of Reconciliation of the Statutory Federal Income Tax Rate to the Company's Effective Tax Rate

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

	2020			2019			2018
Statutory Federal Income Tax Rate		21.00	%		21.00	%		21.00	%
Increase (Decrease) in Income Tax Rate Resulting From:
State Taxes, Net of Federal Income Tax		0.81			2.53			2.29
Tax Reserve Adjustments		0.07			(0.03	)		—
Low-Income Housing Investments- Federal		0.82			0.60			0.22
Investment Tax Credits- Federal		(1.24	)		(0.84	)		(1.04	)
Bank-Owned Life Insurance		(0.82	)		(0.51	)		(0.55	)
Tax-Exempt Income		(0.50	)		(0.53	)		(1.29	)
Excess Tax Benefits - Stock Compensation		(0.07	)		(0.22	)		(0.34	)
Leveraged Lease		(0.56	)		(1.54	)		(0.83	)
Tax Reform Effects		—			—			(0.75	)
Other		(0.83	)		0.50			0.02
Effective Tax Rate		18.68	%		20.96	%		18.73	%

Schedule of Reconciliation of the Company's Liability for Unrecognized Tax Benefits

The following presents a reconciliation of the Company’s liability for UTBs for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

(dollars in thousands)	2020			2019			2018
Unrecognized Tax Benefits at Beginning of Year	$	6,120		$	5,541		$	5,292
Gross Increases, Related to Tax Positions Taken in a Prior Period		374			673			157
Gross Increases, Related to Current Period Tax Positions		222			715			885
Lapse of Statute of Limitations		(1,313	)		(809	)		(793	)
Unrecognized Tax Benefits at End of Year	$	5,403		$	6,120		$	5,541

Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2020, and December 31, 2019:

(dollars in thousands)	Quoted Prices In Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
December 31, 2020
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	921	$	173,324	$	—	$	174,245
Debt Securities Issued by States and Political Subdivisions		—		24,840		—		24,840
Debt Securities Issued by U.S. Government-Sponsored Enterprises		—		1,062		—		1,062
Debt Securities Issued by Corporations		—		224,605		—		224,605
Mortgage-Backed Securities:
Residential - Government Agencies		—		1,594,815		—		1,594,815
Residential - U.S. Government-Sponsored Enterprises		—		1,518,283		—		1,518,283
Commercial - Government Agencies		—		253,839		—		253,839
Total Mortgage-Backed Securities		—		3,366,937		—		3,366,937
Total Investment Securities Available-for-Sale		921		3,790,768		—		3,791,689
Loans Held for Sale		—		82,565		—		82,565
Mortgage Servicing Rights		—		—		958		958
Other Assets		53,410		—		—		53,410
Derivatives ¹		—		878		95,289		96,167
Total Assets Measured at Fair Value on a Recurring Basis as of December 31, 2020	$	54,331	$	3,874,211	$	96,247	$	4,024,789
Liabilities:
Derivatives¹	$	—	$	752	$	17,409	$	18,161
Total Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2020	$	—	$	752	$	17,409	$	18,161
December 31, 2019
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	1,155	$	219,976	$	—	$	221,131
Debt Securities Issued by States and Political Subdivisions		—		55,097		—		55,097
Debt Securities Issued by U.S. Government-Sponsored Enterprises		—		22,147		—		22,147
Debt Securities Issued by Corporations		—		336,321		—		336,321
Mortgage-Backed Securities:
Residential - Government Agencies		—		1,172,826		—		1,172,826
Residential - U.S. Government-Sponsored Enterprises		—		586,761		—		586,761
Commercial - Government Agencies		—		224,720		—		224,720
Total Mortgage-Backed Securities		—		1,984,307		—		1,984,307
Total Investment Securities Available-for-Sale		1,155		2,617,848		—		2,619,003
Loans Held for Sale		—		39,062		—		39,062
Mortgage Servicing Rights		—		—		1,126		1,126
Other Assets		41,464		—		—		41,464
Derivatives¹		—		308		28,623		28,931
Total Assets Measured at Fair Value on a Recurring Basis as of December 31, 2019	$	42,619	$	2,657,218	$	29,749	$	2,729,586
Liabilities:
Derivatives ¹	$	—	$	327	$	6,050	$	6,377
Total Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2019	$	—	$	327	$	6,050	$	6,377

¹	The fair value of each class of derivatives is shown in Note 17 Derivative Financial Instruments.

Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis

For the years ended December 31, 2020, and December 31, 2019, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:

(dollars in thousands)	Mortgage Servicing Rights ¹			Net Derivative Assets and Liabilities ²
Year Ended December 31, 2020
Balance as of January 1, 2020	$	1,126		$	22,573
Realized and Unrealized Net Gains (Losses):
Included in Net Income		(168	)		22,219
Transfers to Loans Held for Sale		—			(18,681	)
Variation Margin Payments		—			51,769
Balance as of December 31, 2020	$	958		$	77,880
Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held as of December 31, 2020	$	—		$	77,880

Year Ended December 31, 2019
Balance as of January 1, 2019	$	1,290		$	4,416
Realized and Unrealized Net Gains (Losses):
Included in Net Income		(164	)		12,138
Transfers to Loans Held for Sale		—			(11,776	)
Variation Margin Payments		—			17,795
Balance as of December 31, 2019	$	1,126		$	22,573
Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held as of December 31, 2019	$	—		$	22,573

¹	Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of mortgage banking income in the Company’s consolidated statements of income.

^{Realized and unrealized gains and losses related to interest rate lock commitments are reported as a component of mortgage banking income in the Company’s consolidated statements of income. Realized and unrealized gains and losses related to interest rate swap agreements are reported as a component of other noninterest income in the Company’s consolidated statements of income.}

Summary of the Significant Unobservable Inputs

For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2020, and December 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows:

		December 31, 2020												December 31, 2019
(dollars in thousands)	Valuation Technique	Description	Range						Weighted Average¹			Fair Value		Weighted Average¹			Fair Value
Mortgage Servicing Rights	Discounted Cash Flow	Constant Prepayment Rate		8.71	%	-	15.89	%		14.42	%	$	19,652		10.76	%	$	26,840
		Discount Rate		5.69	%	-	6.28	%		5.81	%				7.33	%

Net Derivative Assets and Liabilities:
Interest Rate Lock Commitments	Pricing Model	Closing Ratio		84.10	%	-	99.00	%		90.76	%	$	4,947		92.24	%	$	1,280
Interest Rate Swap Agreements	Discounted Cash Flow	Credit Factor		0.00	%	-	0.49	%		0.29	%	$	72,933		0.20	%	$	21,293

¹ Unobservable inputs for mortgage servicing rights and interest rate lock commitments were weighted by loan amount. Unobservable inputs for interest rate swap agreements were weighted by fair value.

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

The Company may be required periodically to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower-of-cost-or-fair value accounting or impairment write-downs of individual assets. The following table represents the assets measured at fair value on a nonrecurring basis as of December 31, 2020.

(dollars in thousands)

Fair Value

Hierarchy

Net Carrying

Amount

Valuation

Allowance

December 31, 2020

Mortgage Servicing Rights - amortization method

Level 3

18,694

(3,892

)

Schedule of Difference between Aggregate Fair Value and Aggregate Unpaid Principal Balance

The following table reflects the difference between the aggregate fair value and the aggregate unpaid principal balance of the Company’s residential mortgage loans held for sale as of December 31, 2020, and December 31, 2019.

(dollars in thousands)	Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Aggregate Unpaid Principal
December 31, 2020
Loans Held for Sale	$	82,565	$	78,577	$	3,988

December 31, 2019
Loans Held for Sale	$	39,062	$	38,293	$	769

Schedule of Carrying Amount, Fair Value, and Fair Value Hierarchy of Financial Instruments

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments not recorded at fair value on a recurring basis as of December 31, 2020, and December 31, 2019. This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For non-marketable equity securities such as Federal Home Loan Bank and Federal Reserve Bank stock, the carrying amount is a reasonable estimate of fair value as these securities can only be redeemed or sold at their par value and only to the respective issuing government supported institution or to another member institution. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.

					Fair Value Measurements
(dollars in thousands)	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2020
Financial Instruments – Assets
Investment Securities Held-to-Maturity	$	3,262,727	$	3,348,693	$	7,500	$	3,341,193	$	—
Loans		11,536,011		12,019,151		—		—		12,019,151

Financial Instruments – Liabilities
Time Deposits		1,662,063		1,667,774		—		1,667,774		—
Securities Sold Under Agreements to Repurchase		600,590		649,039		—		649,039		—
Other Debt ¹		50,000		51,546		—		51,546		—

December 31, 2019
Financial Instruments – Assets
Investment Securities Held-to-Maturity	$	3,042,294	$	3,062,882	$	275,663	$	2,787,219	$	—
Loans		10,664,885		10,873,208		—		—		10,873,208

Financial Instruments – Liabilities
Time Deposits		1,802,431		1,800,773		—		1,800,773		—
Securities Sold Under Agreements to Repurchase		604,306		627,780		—		627,780		—
Other Debt ¹		75,000		75,581		—		75,581		—

¹	Excludes finance lease obligations.

Commitments, Contingencies, and Guarantees - Credit Commitments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Credit Commitments [Line Items]
Credit Commitments	$ 2,897,820
Unfunded Commitments to Extend Credit
Credit Commitments [Line Items]
Credit Commitments	2,787,123
Standby Letters of Credit
Credit Commitments [Line Items]
Credit Commitments	100,186
Commercial Letters of Credit
Credit Commitments [Line Items]
Credit Commitments	$ 10,511

Other Debt - Additional Information (Details) - USD ($)	12 Months Ended
Other Debt - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Maximum percentage of the total assets that can be borrowed from the FHLB by the entity	45.00%
Federal Home Loan Bank, Advances, Weighted Average Interest Rate (as a percent)	1.19%
Federal Reserve Bank Advances
Debt Instrument [Line Items]
Undrawn line of credit with the FHLB or FRB	$ 427,900,000
Federal Home Loan Bank Advance
Debt Instrument [Line Items]
Other Debt	50,000,000	$ 75,000,000
Undrawn line of credit with the FHLB or FRB	$ 2,800,000,000
Finance Lease Obligations
Debt Instrument [Line Items]
Lease term (in years)	60 years
Fixed lease payments through December 2022	$ 800,000

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Summary of Noninterest Income Segregated by Revenue Streams In-Scope and Out-of-Scope of Topic 606

The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

	Year Ended December 31,
(dollars in thousands)	2020		2019		2018
Noninterest Income
In-scope of Topic 606:
Trust and Asset Management	$	43,456	$	44,233	$	43,877
Service Charges on Deposit Accounts		11,715		13,042		13,165
Fees, Exchange, and Other Service Charges		36,005		46,381		46,350
Annuity and Insurance		3,249		6,813		5,615
Other		8,626		9,633		9,652
Noninterest Income (in-scope of Topic 606)		103,051		120,102		118,659
Noninterest Income (out-of-scope of Topic 606)		81,358		63,236		50,264
Total Noninterest Income	$	184,409	$	183,338	$	168,923

Business Segments (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Selected Business Segment Financial Information

Selected business segment financial information as of and for the years ended December 31, 2020, December 31, 2019, and December 31, 2018 were as follows:

(dollars in thousands)	Consumer Banking			Commercial Banking			Treasury and Other			Consolidated Total
Year Ended December 31, 2020
Net Interest Income	$	292,710		$	188,626		$	14,986		$	496,322
Provision for Credit Losses		8,087			(948	)		110,661			117,800
Net Interest Income (Loss) After Provision for Credit Losses		284,623			189,574			(95,675	)		378,522
Noninterest Income		128,400			34,523			21,486			184,409
Noninterest Expense		(289,177	)		(63,294	)		(21,336	)		(373,807	)
Income (Loss) Before Provision for Income Taxes		123,846			160,803			(95,525	)		189,124
Provision for Income Taxes		(31,476	)		(40,081	)		36,237			(35,320	)
Net Income (Loss)	$	92,370		$	120,722		$	(59,288	)	$	153,804
Total Assets as of December 31, 2020	$	7,478,813		$	5,116,807		$	8,008,031		$	20,603,651

Year Ended December 31, 2019 ¹
Net Interest Income	$	305,803		$	185,259		$	6,653		$	497,715
Provision for Credit Losses		11,685			976			3,339			16,000
Net Interest Income After Provision for Credit Losses		294,118			184,283			3,314			481,715
Noninterest Income		142,378			33,362			7,598			183,338
Noninterest Expense		(281,662	)		(84,616	)		(12,949	)		(379,227	)
Income (Loss) Before Provision for Income Taxes		154,834			133,029			(2,037	)		285,826
Provision for Income Taxes		(38,654	)		(28,852	)		7,593			(59,913	)
Net Income	$	116,180		$	104,177		$	5,556		$	225,913
Total Assets as of December 31, 2019 ¹	$	7,054,511		$	4,254,261		$	6,786,724		$	18,095,496

Year Ended December 31, 2018 ¹
Net Interest Income	$	305,681		$	179,577		$	1,094		$	486,352
Provision for Credit Losses		14,837			(760	)		(652	)		13,425
Net Interest Income After Provision for Credit Losses		290,844			180,337			1,746			472,927
Noninterest Income		134,342			23,733			10,848			168,923
Noninterest Expense		(277,608	)		(81,344	)		(12,672	)		(371,624	)
Income (Loss) Before Provision for Income Taxes		147,578			122,726			(78	)		270,226
Provision for Income Taxes		(37,285	)		(28,496	)		15,157			(50,624	)
Net Income	$	110,293		$	94,230		$	15,079		$	219,602
Total Assets as of December 31, 2018 ¹	$	6,715,095		$	3,958,523		$	6,470,356		$	17,143,974

¹ Certain prior period information has been reclassified to conform to current presentation.

Restrictions on Cash and Cash and Cash Equivalents - Schedule of Reconciliation of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash And Cash Equivalents [Abstract]
Interest-Bearing Deposits in Other Banks	$ 1,646	$ 4,979
Funds Sold	333,022	254,574
Cash and Due From Banks	279,420	299,105
Total Cash and Cash Equivalents	$ 614,088	$ 558,658	$ 525,969	$ 447,851

Loans and Leases and the Allowance for Credit Losses - Schedule of Activity in Allowance by Portfolio Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for Credit Losses:
Balance at Beginning of Period	$ 110,027	$ 106,693	$ 107,346
Loans and Leases Charged-Off	(21,038)	(23,955)	(24,564)
Recoveries on Loans and Leases Previously Charged-Off	13,900	11,289	10,486
Net Loans and Leases Recovered (Charged-Off)	(7,138)	(12,666)	(14,078)
Provision for Credit Losses	115,100	16,000	13,425
Balance at End of Period	216,252	110,027	106,693
Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	110,027
Balance at End of Period		110,027
CECL Adoption Impact \| Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	(1,737)
Balance at End of Period		(1,737)
January 1, 2020 \| Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	108,290
Balance at End of Period		108,290
Commercial
Allowance for Credit Losses:
Balance at Beginning of Period	73,801	66,874	65,822
Loans and Leases Charged-Off	(1,697)	(2,738)	(1,505)
Recoveries on Loans and Leases Previously Charged-Off	2,328	1,513	2,039
Net Loans and Leases Recovered (Charged-Off)	631	(1,225)	534
Provision for Credit Losses	29,204	8,152	518
Balance at End of Period	84,847	73,801	66,874
Commercial \| Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	73,801
Balance at End of Period		73,801
Commercial \| CECL Adoption Impact \| Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	(18,789)
Balance at End of Period		(18,789)
Commercial \| January 1, 2020 \| Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	55,012
Balance at End of Period		55,012
Consumer
Allowance for Credit Losses:
Balance at Beginning of Period	36,226	39,819	41,524
Loans and Leases Charged-Off	(19,341)	(21,217)	(23,059)
Recoveries on Loans and Leases Previously Charged-Off	11,572	9,776	8,447
Net Loans and Leases Recovered (Charged-Off)	(7,769)	(11,441)	(14,612)
Provision for Credit Losses	85,896	7,848	12,907
Balance at End of Period	131,405	36,226	$ 39,819
Consumer \| Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	36,226
Balance at End of Period		36,226
Consumer \| CECL Adoption Impact \| Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	17,052
Balance at End of Period		17,052
Consumer \| January 1, 2020 \| Accounting Standards Update 2016-13
Allowance for Credit Losses:
Balance at Beginning of Period	$ 53,278
Balance at End of Period		$ 53,278

Business Segments - Additional Information (Details)	12 Months Ended
Business Segments - Additional Information (Details)	Dec. 31, 2020 branch atm
Business segment financial information
Federal and state effective tax rate used for segment reporting	26.00%
Consumer Banking
Business segment financial information
Number of branch locations through which products and services are delivered to customers \| branch	65
Number of ATM's through which products and services are delivered to customers \| atm	357

Leases - Additional Information (Details) $ in Millions		12 Months Ended
Leases - Additional Information (Details) $ in Millions	Jan. 22, 2021 USD ($) branch	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Lessee Lease Description [Line Items]
Operating lease, existence of option to extend		true
Operating lease, option to extend		through 2052
Sublease, existence of option to extend		true
Sublease, option to extend		through 2033
Rent expense				$ 19.3
Sublease income				7.6
Rental income from operating leases, including subleases		$ 10.3	$ 10.7	$ 8.7
Board of Directors \| Subsequent Event
Lessee Lease Description [Line Items]
Total charge related to branch closure	$ 5.6
Number of branches closed \| branch	12
Write off impairment charge, right-of-use assets	$ 2.5

Other Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Other Debt

Note 10. Other Debt

The Company’s other debt as of December 31, 2020, and December 31, 2019, were as follows:

	December 31,
(dollars in thousands)	2020		2019
Federal Home Loan Bank Advances	$	50,000	$	75,000
Finance Lease Obligations		10,481		10,565
Total	$	60,481	$	85,565

As a member of the FHLB, the Bank may borrow funds from the FHLB in amounts up to 45% of the Bank’s total assets, provided the Bank is able to pledge an adequate amount of qualified assets to secure the borrowings. As of December 31, 2020, FHLB advances totaled $50.0 million with a weighted-average interest rate of 1.19% and maturity dates during 2024. As of December 31, 2020, the Company had a remaining line of credit with the FHLB of $2.8 billion. See Note 4 Loans and Leases and the Allowance for Credit Losses for loans pledged to the FHLB as of December 31, 2020, and December 31, 2019.

Finance lease obligations relate to office space at the Company’s headquarters. The lease began in 1993 and has a 60 year term. Lease payments are fixed at $0.8 million per year through December 2022 and are negotiable thereafter.

As of December 31, 2020, the Company had an undrawn line of credit with the FRB of $427.9 million. See Note 4 Loans and Leases and the Allowance for Credit Losses for loans pledged to the FRB as of December 31, 2020, and December 31, 2019.

As of December 31, 2020, the annual maturities of the Company’s other debt, exclusive of finance lease obligations, were expected to be as follows:

(dollars in thousands)	Amount
2021	$	—
2022		—
2023		—
2024		50,000
2025		—
Thereafter		—
Total	$	50,000

Mortgage Servicing Rights - Summary of Carrying Value Under the Amortization Method (Details) - Mortgage Servicing Rights - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mortgage Servicing Rights Accounted for Under the Amortization Method (Rollforward)
Balance at Beginning of Year	$ 23,896	$ 23,020	$ 23,168
Servicing Rights that Resulted From Asset Transfers	3,592	4,485	2,470
Amortization	(4,902)	(3,609)	(2,618)
Valuation Allowance Recovery (Provision)	(3,892)
Balance at End of Year	18,694	23,896	23,020
Valuation Allowance:
Valuation Allowance Recovery (Provision)	(3,892)
Balance at End of Year	(3,892)
Fair Value:
Balance at Beginning of Year	25,714	29,218	26,716
Balance at End of Year	$ 18,694	$ 25,714	$ 29,218

Share-Based Compensation - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation [Line Items]
Total shares authorized	2,100,000
Shares available for future grants of stock options or restricted stock	1,600,000
Compensation Expense	$ 7,578,000	$ 8,338,000	$ 8,146,000
Stock awards granted during period	0	0	0
Stock Options
Share-based Compensation [Line Items]
Expiration period	10 years
Restricted Stock
Share-based Compensation [Line Items]
Unrecognized compensation cost related to unvested restricted stock	$ 12,900,000
Weighted average period during which unrecognized compensation cost is expected to be recognized (in years)	2 years 18 days
Granted	161,168	130,093	120,173
Restricted Stock \| Minimum [Member]
Share-based Compensation [Line Items]
Vesting period (in years)	1 year
Restricted Stock \| Maximum
Share-based Compensation [Line Items]
Vesting period (in years)	4 years
Restricted Stock Units (RSUs)
Share-based Compensation [Line Items]
Granted	0	0	0
Compensation Expense	$ 0	$ 1,000,000.0	$ 600,000
Restricted Stock Units (RSUs) \| Minimum [Member]
Share-based Compensation [Line Items]
Vesting period (in years)	3 years
Restricted Stock Units (RSUs) \| Maximum
Share-based Compensation [Line Items]
Vesting period (in years)	4 years

Employee Benefits - Schedule of Reconciliation of Changes in Benefit Obligation and Fair value of Plan Assets As Well As the Funded Status Recognized in the Consolidated Statements (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Participants contributions	$ 0.8	$ 0.7

Income Taxes - Schedule of Reconciliation of the Statutory Federal Income Tax Rate to the Company's Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of the Statutory Federal Income Tax Rate to the Company's Effective Tax Rate
Statutory Federal Income Tax Rate	21.00%	21.00%	21.00%
Increase (Decrease) in Income Tax Rate Resulting From:
State Taxes, Net of Federal Income Tax	0.81%	2.53%	2.29%
Tax Reserve Adjustments	0.07%	(0.03%)	0.00%
Low-Income Housing Investments- Federal	0.82%	0.60%	0.22%
Investment Tax Credits- Federal	(1.24%)	(0.84%)	(1.04%)
Bank-Owned Life Insurance	(0.82%)	(0.51%)	(0.55%)
Tax-Exempt Income	(0.50%)	(0.53%)	(1.29%)
Excess Tax Benefits - Stock Compensation	(0.07%)	(0.22%)	(0.34%)
Leveraged Lease	(0.56%)	(1.54%)	(0.83%)
Tax Reform Effects	0.00%	0.00%	(0.75%)
Other	(0.83%)	0.50%	0.02%
Effective Tax Rate	18.68%	20.96%	18.73%

Commitments, Contingencies, and Guarantees - Additional Information (Details) $ in Millions		12 Months Ended
	Dec. 06, 2019 USD ($)	Dec. 31, 2020 USD ($) Loan	Dec. 31, 2019 USD ($)
Residential Mortgage
Representations and Warranties [Line Items]
Continuing involvement with transferred financial assets, principal amount outstanding		$ 2,500.0
Number of mortgage loans repurchased \| Loan		40
Unpaid principal balance of repurchased mortgage loan		$ 13.4
Number of mortgage loans repurchased, pending \| Loan		0
Number of mortgage loans repurchased due to loan servicing activities \| Loan		0
Number of mortgage loans repurchased due to loan servicing activities, pending \| Loan		0
Current residential mortgage loans serviced for third parties as percentage of total		99.00%
Class Settlement \| Settled Litigation
Representations and Warranties [Line Items]
Litigation settlement amount	$ 8.0
Litigation settlement, amount awarded from other party		$ 8.0	$ 2.0
Standby Letters of Credit
Representations and Warranties [Line Items]
Assets secured for standby letters of credit		$ 73.3
Standby and Commercial Letters of Credit \| Minimum [Member]
Representations and Warranties [Line Items]
Standby and commercial letters of credit remaining term		1 month
Standby and Commercial Letters of Credit \| Maximum
Representations and Warranties [Line Items]
Standby and commercial letters of credit remaining term		14 months

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Schedule of Reconciliation of Changes in Benefit Obligation and Fair value of Plan Assets As Well As the Funded Status Recognized in the Consolidated Statements

The following table provides a reconciliation of changes in benefit obligation and fair value of plan assets, as well as the funded status recognized in the Company’s consolidated statements of condition for the Pension Plans and postretirement benefit plan for the years ended December 31, 2020, and December 31, 2019.

	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2020			2019			2020			2019
Benefit Obligation at Beginning of Year	$	110,637		$	102,662		$	27,571		$	23,452
Service Cost		—			—			578			455
Interest Cost		3,627			4,401			945			1,025
Actuarial Losses (Gains)		10,364			10,359			3,559			4,095
Employer Benefits Paid ¹		(6,981	)		(6,785	)		(1,146	)		(1,456	)
Benefit Obligation at End of Year	$	117,647		$	110,637		$	31,507		$	27,571
Fair Value of Plan Assets at Beginning of Year	$	93,638		$	85,553		$	—		$	—
Actual Return on Plan Assets		10,764			14,400			—			—
Employer Contributions		469			470			1,146			1,456
Employer Benefits Paid ¹		(6,981	)		(6,785	)		(1,146	)		(1,456	)
Fair Value of Plan Assets at End of Year	$	97,890		$	93,638		$	—		$	—
Funded Status at End of Year ²	$	(19,757	)	$	(16,999	)	$	(31,507	)	$	(27,571	)

Participants' contributions relative to the postretirement benefit plan were offset against employer benefits paid in the table above. Participants' contributions for postretirement benefits were $0.8 million and $0.7 million for the years ended December 31, 2020, and December 31, 2019, respectively.

²	^{Amounts are recognized in Retirement Benefits Payable in the consolidated statements of condition.}

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

The following presents the amounts recognized in the Company’s accumulated other comprehensive income for the Pension Plans and postretirement benefit plan as of December 31, 2020, and December 31, 2019.

	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2020			2019			2020			2019
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax
Net Actuarial Gains (Losses)	$	(43,101	)	$	(41,404	)	$	(1,613	)	$	1,003
Net Prior Service Credit		—			—			1,464			1,645
Total Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax	$	(43,101	)	$	(41,404	)	$	(149	)	$	2,648

Schedule of Components of Net Periodic Benefit Cost

Components of net periodic benefit cost for the Company’s Pension Plans and the postretirement benefit plan are presented in the following table for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

	Pension Benefits									Postretirement Benefits
(dollars in thousands)	2020			2019			2018			2020			2019			2018
Service Cost	$	—		$	—		$	—		$	578		$	455		$	457
Interest Cost		3,627			4,401			4,193			945			1,025			936
Expected Return on Plan Assets		(5,028	)		(4,993	)		(5,122	)		—			—			—
Amortization of:
Prior Service Credit ¹		—			—			—			(246	)		(288	)		(567	)
Net Actuarial Losses (Gains) ¹		2,318			1,937			2,099			—			(339	)		(264	)
Net Periodic Benefit Cost	$	917		$	1,345		$	1,170		$	1,277		$	853		$	562

¹	^{Represents reclassification adjustments from accumulated other comprehensive income during the period.}

Schedule of Assumptions Used to Determine the Benefit Obligations/net Periodic Cost

Assumptions used to determine the benefit obligations as of December 31, 2020, and December 31, 2019, for the Company’s Pension Plans and postretirement benefit plan were as follows:

	Pension Benefits						Postretirement Benefits
	2020			2019			2020			2019
Weighted Average Assumptions as of December 31:
Discount Rate		2.55	%		3.36	%		2.66	%		3.42	%
Health Care Cost Trend Rate Assumed For Next Year		—			—			5.50	%		5.70	%

Schedule of Assumptions Used in Calculation Net Periodic Benefit Cost

Assumptions used to determine the net periodic benefit cost for the Company’s Pension Plans and postretirement benefit plan for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, were as follows:

	Pension Benefits									Postretirement Benefits
	2020			2019			2018			2020			2019			2018
Weighted Average Assumptions as of December 31:
Discount Rate		3.36	%		4.41	%		3.90	%		3.42	%		4.48	%		3.96	%
Expected Long-Term Rate of Return on Plan Assets		5.75	%		5.75	%		5.75	%		—			—			—
Health Care Cost Trend Rate		—			—			—			5.70	%		6.00	%		6.30	%

Schedule of Expected Benefits to be Paid in Each of the Next Five Years and in the Aggregate for the Five Years Thereafter

As of December 31, 2020, expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter were as follows:

(dollars in thousands)	Pension Benefits		Postretirement Benefits
2021	$	7,305	$	1,196
2022		7,327		1,235
2023		7,314		1,321
2024		7,314		1,388
2025		7,287		1,511
Years 2026-2030		34,860		9,324

Schedule of the Fair Values of the Retirement Plan Assets by Asset Category

The fair values of the Retirement Plan assets as of December 31, 2020, and December 31, 2019, by asset category were as follows:

	Fair Value Measurements
Asset Category (dollars in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total as of Dec. 31, 2020		Total as of Dec. 31, 2019
Cash	$	1,079	$	—	$	—	$	1,079	$	1,269
Equity Securities – Mutual Funds:
Large-Cap		1,849		—		—		1,849		1,731
Mixed-Cap		29,802		—		—		29,802		29,336
International		28,055		—		—		28,055		23,961
Emerging Market		2,494		—		—		2,494		2,342
Fixed Income Securities – Mutual Funds		34,611		—		—		34,611		34,999
Total	$	97,890	$	—	$	—	$	97,890	$	93,638

Premises and Equipment - Additional Information (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2020 USD ($) branch	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Property Plant And Equipment [Line Items]
Depreciation and amortization (including capital lease amortization) included in noninterest expense		$ 20,200,000	$ 17,300,000	$ 14,400,000
Number of branches closed \| branch		12
Premises
Property Plant And Equipment [Line Items]
Impairment charge	$ 1,600,000		0	0
Equipment
Property Plant And Equipment [Line Items]
Impairment charge	$ 1,600,000		$ 0	$ 0

Affordable Housing Projects Tax Credit Partnerships - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments And Joint Ventures [Abstract]
Net affordable housing tax credit investments and related unfunded commitments		$ 138,900,000	$ 76,300,000
Write down from impairment of LIHTC Investments		$ 0	$ 0	$ 0
Low income housing investment partnerships basis adjustments, provision income tax expense	$ 2,000,000.0

Leases - Schedule of Lease Cost and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Weighted-average remaining lease term
Operating leases	17 years	16 years 9 months 18 days
Finance leases	32 years	33 years
Weighted-average discount rate
Operating leases	3.61%	3.67%
Finance leases	7.04%	7.04%
Lease Costs
Operating lease cost	$ 12,281	$ 12,616
Variable lease cost	5,549	3,504
Short-term lease cost	587	591
Interest on lease liabilities 1	741	747
Amortization of right-of-use assets	72	72
Sublease income	(7,804)	(8,281)
Net lease cost	11,426	9,249
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	12,349	12,779
Operating cash flows from finance leases	741	747
Financing cash flows from finance leases	84	78
Right-of-use assets obtained in exchange for new operating lease liabilities	11,185	4,101
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 0	$ 0

Other Debt - Schedule of Other Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Finance Lease Obligations	$ 10,481	$ 10,565
Total	60,481	85,565
Federal Home Loan Bank Advance
Debt Instrument [Line Items]
Federal Home Loan Bank Advances	$ 50,000	$ 75,000

Mortgage Servicing Rights

12 Months Ended

Dec. 31, 2020

Transfers And Servicing Of Financial Assets [Abstract]

Mortgage Servicing Rights

Note 5. Mortgage Servicing Rights

The Company’s portfolio of residential mortgage loans serviced for third parties was $2.8 billion as of December 31, 2020, and $3.1 billion as of December 31, 2019, and $2.9 billion December 31, 2018. Substantially all of these loans were originated by the Company and sold to third parties on a non-recourse basis with servicing rights retained. These retained servicing rights are recorded as a servicing asset and are initially recorded at fair value (see Note 21 Fair Value of Assets and Liabilities for more information). Changes to the balance of mortgage servicing rights are recorded in mortgage banking income in the Company’s consolidated statements of income.

The Company’s mortgage servicing activities include collecting principal, interest, and escrow payments from borrowers; making tax and insurance payments on behalf of borrowers; monitoring delinquencies and executing foreclosure proceedings; and accounting for and remitting principal and interest payments to investors. Servicing income, including late and ancillary fees, was $7.2 million for the years ended December 31, 2020, and $7.3 million for years ended December 31, 2019, and December 31, 2018, respectively. Servicing income is recorded in mortgage banking income in the Company’s consolidated statements of income. The Company’s residential mortgage investor loan servicing portfolio is primarily comprised of fixed rate loans concentrated in Hawaii.

For the years ended December 31, 2020, December 31, 2019, and December 31, 2018, the change in the fair value of the Company’s mortgage servicing rights accounted for under the fair value measurement method was as follows:

(dollars in thousands)	2020			2019			2018
Balance at Beginning of Year	$	1,126		$	1,290		$	1,454
Changes in Fair Value:
Due to Payoffs		(168	)		(164	)		(164	)
Total Changes in Fair Value of Mortgage Servicing Rights		(168	)		(164	)		(164	)
Balance at End of Year	$	958		$	1,126		$	1,290

For the years ended December 31, 2020, December 31, 2019, and December 31, 2018, the change in the carrying value of the Company’s mortgage servicing rights accounted for under the amortization method was as follows:

(dollars in thousands)	2020			2019			2018
Balance at Beginning of Year	$	23,896		$	23,020		$	23,168
Servicing Rights that Resulted From Asset Transfers		3,592			4,485			2,470
Amortization		(4,902	)		(3,609	)		(2,618	)
Valuation Allowance Recovery (Provision)		(3,892	)		—			—
Balance at End of Year	$	18,694		$	23,896		$	23,020
Valuation Allowance:
Balance at Beginning of Year	$	—		$	—		$	—
Valuation Allowance Recovery (Provision)		(3,892	)		—			—
Balance at End of Year	$	(3,892	)	$	—		$	—
Fair Value:
Balance at Beginning of Year	$	25,714		$	29,218		$	26,716
Balance at End of Year	$	18,694		$	25,714		$	29,218

The key data and assumptions used in estimating the fair value of the Company’s mortgage servicing rights as of December 31, 2020, and December 31, 2019 were as follows:

	December 31,
	2020			2019
Weighted-Average Constant Prepayment Rate ¹	14.42		%	10.76		%
Weighted-Average Life (in years)		4.99			6.20
Weighted-Average Note Rate	3.87		%	3.99		%
Weighted-Average Discount Rate ²	5.81		%	7.33		%

¹	Represents annualized loan prepayment rate assumption.

²	Derived from multiple interest rate scenarios that incorporate a spread to a market yield curve and market volatilities.

A sensitivity analysis of the Company’s fair value of mortgage servicing rights to changes in certain key assumptions as of December 31, 2020, and December 31, 2019, is presented in the following table.

	December 31,
(dollars in thousands)	2020			2019
Constant Prepayment Rate
Decrease in fair value from 25 basis points (“bps”) adverse change	$	(203	)	$	(296	)
Decrease in fair value from 50 bps adverse change		(401	)		(586	)
Discount Rate
Decrease in fair value from 25 bps adverse change		(184	)		(264	)
Decrease in fair value from 50 bps adverse change		(365	)		(522	)

This analysis generally cannot be extrapolated because the relationship of a change in one key assumption to the change in the fair value of the Company’s mortgage servicing rights usually is not linear. Also, the effect of changing one key assumption without changing other assumptions is not realistic.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

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+ Details

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Federal Home Loan Bank and Federal Reserve Bank Stock	$ 33,340	$ 34,093
Derivative Financial Instruments	96,167	28,931
Low-Income Housing and Other Equity Investments	142,961	84,618
Deferred Compensation Plan Assets	53,410	41,464
Prepaid Expenses	14,517	15,140
Accounts Receivable	12,380	20,180
Deferred Tax Assets	16,724
Other	65,794	48,248
Total Other Assets	$ 435,293	$ 272,674

Mortgage Servicing Rights - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Transfers And Servicing Of Financial Assets [Abstract]
Residential mortgage loans serviced for third parties	$ 2,800.0	$ 3,100.0	$ 2,900.0
Servicing income, including late and ancillary fees	$ 7.2	$ 7.3	$ 7.3

Business Segments

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Business Segments

Note 13. Business Segments

Effective January 1, 2020, the Company changed segments based on management structure and strategic focus which is placing a greater emphasis on customer segment as opposed to product type. The Company’s business segments are defined as Consumer Banking,

Commercial Banking, and Treasury and Other. The Company’s internal management accounting process measures the performance of these business segments. This process, which is not necessarily comparable with the process used by any other financial institution, uses various techniques to assign balance sheet and income statement amounts to the business segments, including allocations of income, expense, the provision for credit losses, and capital. This process is dynamic and requires certain allocations based on judgment and other subjective factors. Unlike financial accounting, there is no comprehensive authoritative guidance for management accounting that is equivalent to GAAP. Previously reported results have been reclassified to conform to the current reporting structure.

The net interest income of the business segments reflects the results of a funds transfer pricing process that matches assets and liabilities with similar interest rate sensitivity and maturity characteristics and reflects the allocation of net interest income related to the Company’s overall asset and liability management activities on a proportionate basis. The basis for the allocation of net interest income is a function of the Company’s assumptions that are subject to change based on changes in current interest rates and market conditions. Funds transfer pricing also serves to transfer interest rate risk to Treasury. However, the other business segments have some latitude to retain certain interest rate exposures related to customer pricing decisions within guidelines.

The provision for credit losses for the Consumer Banking and Commercial Banking business segments reflects the actual net charge-offs of those business segments. The amount of the consolidated provision for loan and lease losses is based on the methodology that we use to estimate our consolidated Allowance. The residual provision for credit losses to arrive at the consolidated provision for credit losses is included in Treasury and Other.

Noninterest income and expense includes allocations from support units to business units. These allocations are based on actual usage where practicably calculated or by management’s estimate of such usage.

The provision for income taxes is allocated to business segments using a 26% effective income tax rate. However, the provision for income taxes for our Leasing business unit (included in the Commercial Banking segment) and Auto Leasing portfolio and Pacific Century Life Insurance business unit (both included in the Consumer Banking segment) are assigned their actual effective income tax rates due to the unique relationship that income taxes have with their products. The residual income tax expense or benefit to arrive at the consolidated effective tax rate is included in Treasury and Other.

Consumer Banking

Consumer Banking offers a broad range of financial products and services, including loan, deposit and insurance products; private banking and international client banking services; trust services; investment management; and institutional investment advisory services. Consumer Banking also provides a full service brokerage offering equities, mutual funds, life insurance, and annuity products. Loan and lease products include residential mortgage loans, home equity lines of credit, automobile loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards. Deposit products include checking, savings, and time deposit accounts. Private banking and personal trust groups assist individuals and families in building and preserving their wealth by providing investment, credit, and trust services to high-net-worth individuals. The investment management group manages portfolios utilizing a variety of investment products. Also within Consumer Banking, institutional client services offer investment advice to corporations, government entities, and foundations. Products and services from Consumer Banking are delivered to customers through 65 branch locations and 357 ATMs throughout Hawaii and the Pacific Islands, e-Bankoh (on-line banking service), a 24-hour customer service center, and a mobile banking service.

Commercial Banking

Commercial Banking offers products including corporate banking, commercial real estate loans, commercial lease financing, auto dealer financing, and deposit products. Commercial lending and deposit products are offered to middle-market and large companies in Hawaii and the Pacific Islands. In addition, Commercial Banking offers deposit products to government entities in Hawaii. Commercial real estate mortgages focus on customers that include investors, developers, and builders predominantly domiciled in Hawaii. Commercial Banking also includes international banking and provides merchant services to its customers.

Treasury and Other

Treasury consists of corporate asset and liability management activities, including interest rate risk management and a foreign currency exchange business. This segment’s assets and liabilities (and related interest income and expense) consist of interest-bearing deposits, investment securities, federal funds sold and purchased, and short and long-term borrowings. The primary sources of noninterest income are from bank-owned life insurance, net gains from the sale of investment securities, and foreign exchange income related to customer-driven currency requests from merchants and island visitors. The net residual effect of the transfer pricing of assets and liabilities is included in Treasury, along with the elimination of intercompany transactions.

Other organizational units (Technology, Operations, Marketing, Human Resources, Finance, Credit and Risk Management, and Corporate and Regulatory Administration) provide a wide-range of support to the Company’s other income earning segments. Expenses incurred by these support units are charged to the business segments through an internal cost allocation process.

Selected business segment financial information as of and for the years ended December 31, 2020, December 31, 2019, and December 31, 2018 were as follows:

(dollars in thousands)	Consumer Banking			Commercial Banking			Treasury and Other			Consolidated Total
Year Ended December 31, 2020
Net Interest Income	$	292,710		$	188,626		$	14,986		$	496,322
Provision for Credit Losses		8,087			(948	)		110,661			117,800
Net Interest Income (Loss) After Provision for Credit Losses		284,623			189,574			(95,675	)		378,522
Noninterest Income		128,400			34,523			21,486			184,409
Noninterest Expense		(289,177	)		(63,294	)		(21,336	)		(373,807	)
Income (Loss) Before Provision for Income Taxes		123,846			160,803			(95,525	)		189,124
Provision for Income Taxes		(31,476	)		(40,081	)		36,237			(35,320	)
Net Income (Loss)	$	92,370		$	120,722		$	(59,288	)	$	153,804
Total Assets as of December 31, 2020	$	7,478,813		$	5,116,807		$	8,008,031		$	20,603,651

Year Ended December 31, 2019 ¹
Net Interest Income	$	305,803		$	185,259		$	6,653		$	497,715
Provision for Credit Losses		11,685			976			3,339			16,000
Net Interest Income After Provision for Credit Losses		294,118			184,283			3,314			481,715
Noninterest Income		142,378			33,362			7,598			183,338
Noninterest Expense		(281,662	)		(84,616	)		(12,949	)		(379,227	)
Income (Loss) Before Provision for Income Taxes		154,834			133,029			(2,037	)		285,826
Provision for Income Taxes		(38,654	)		(28,852	)		7,593			(59,913	)
Net Income	$	116,180		$	104,177		$	5,556		$	225,913
Total Assets as of December 31, 2019 ¹	$	7,054,511		$	4,254,261		$	6,786,724		$	18,095,496

Year Ended December 31, 2018 ¹
Net Interest Income	$	305,681		$	179,577		$	1,094		$	486,352
Provision for Credit Losses		14,837			(760	)		(652	)		13,425
Net Interest Income After Provision for Credit Losses		290,844			180,337			1,746			472,927
Noninterest Income		134,342			23,733			10,848			168,923
Noninterest Expense		(277,608	)		(81,344	)		(12,672	)		(371,624	)
Income (Loss) Before Provision for Income Taxes		147,578			122,726			(78	)		270,226
Provision for Income Taxes		(37,285	)		(28,496	)		15,157			(50,624	)
Net Income	$	110,293		$	94,230		$	15,079		$	219,602
Total Assets as of December 31, 2018 ¹	$	6,715,095		$	3,958,523		$	6,470,356		$	17,143,974

¹ Certain prior period information has been reclassified to conform to current presentation.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Fair Value of Assets and Liabilities - Schedule of Carrying Amount, Fair Value, and Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial Instruments – Assets
Held-to-Maturity: Fair Value	$ 3,348,693	$ 3,062,882	$ 3,413,994
Carrying Amount
Financial Instruments – Assets
Held-to-Maturity: Fair Value	3,262,727	3,042,294
Loans	11,536,011	10,664,885
Financial Instruments – Liabilities
Time Deposits	1,662,063	1,802,431
Securities Sold Under Agreements to Repurchase	600,590	604,306
Other Debt	50,000	75,000
Fair Value
Financial Instruments – Assets
Held-to-Maturity: Fair Value	3,348,693	3,062,882
Loans	12,019,151	10,873,208
Financial Instruments – Liabilities
Time Deposits	1,667,774	1,800,773
Securities Sold Under Agreements to Repurchase	649,039	627,780
Other Debt	51,546	75,581
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Fair Value
Financial Instruments – Assets
Held-to-Maturity: Fair Value	7,500	275,663
Loans	0	0
Financial Instruments – Liabilities
Time Deposits	0	0
Securities Sold Under Agreements to Repurchase	0	0
Other Debt	0	0
Significant Other Observable Inputs (Level 2) \| Fair Value
Financial Instruments – Assets
Held-to-Maturity: Fair Value	3,341,193	2,787,219
Loans	0	0
Financial Instruments – Liabilities
Time Deposits	1,667,774	1,800,773
Securities Sold Under Agreements to Repurchase	649,039	627,780
Other Debt	51,546	75,581
Significant Other Unobservable Inputs (Level 3) \| Fair Value
Financial Instruments – Assets
Held-to-Maturity: Fair Value	0	0
Loans	12,019,151	10,873,208
Financial Instruments – Liabilities
Time Deposits	0	0
Securities Sold Under Agreements to Repurchase	0	0
Other Debt	$ 0	$ 0

Borrowings - Schedule of Details of Short-term Borrowings (Details) - Securities Sold Under Agreements to Repurchase - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Short Term Debt [Line Items]
Amounts Outstanding	$ 100	$ 2,200
Weighted-Average Interest Rate	1.20%	1.87%

Premises and Equipment

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Premises and Equipment

Note 6. Premises and Equipment

The components of the Company’s premises and equipment as of December 31, 2020, and December 31, 2019, were as follows:

(dollars in thousands)	Cost		Accumulated Depreciation and Amortization			Net Book Value
December 31, 2020
Premises	$	370,268	$	(237,024	)	$	133,244
Equipment		143,964		(79,817	)		64,147
Finance Leases		6,593		(4,289	)		2,304
Total	$	520,825	$	(321,130	)	$	199,695

December 31, 2019
Premises	$	360,170	$	(235,031	)	$	125,139
Equipment		133,725		(72,852	)		60,873
Finance Leases		6,593		(4,217	)		2,376
Total	$	500,488	$	(312,100	)	$	188,388

Depreciation and amortization (including finance lease amortization) included in noninterest expense was $20.2 million, $17.3 million, and $14.4 million for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, respectively.

During the fourth quarter of 2020, the Company recorded a $1.6 million impairment of the Company’s premises and equipment for the year ended December 31, 2020 related to the decision to permanently close twelve branches and reduce the number of cash-only ATMs. There was no impairment of the Company’s premises and equipment for the years ended December 31, 2019 and December 31, 2018.

Loans and Leases and the Allowance for Credit Losses - Schedule of Aging Analysis by Class of Loan and Lease Portfolio (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2020
Loans And Leases And Allowance For Loan And Lease Losses [Abstract]
Number of days non-accrual loans and leases are not past due	30 days

Employee Benefits - Schedule of Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Net periodic benefit cost for pension plans and the postretirement benefit plan
Service Cost	$ 0	$ 0	$ 0
Interest Cost	3,627	4,401	4,193
Expected Return on Plan Assets	(5,028)	(4,993)	(5,122)
Amortization of Prior Service Credit	0	0	0
Amortization of Net Actuarial Losses (Gains)	2,318	1,937	2,099
Net Periodic Benefit Cost	917	1,345	1,170
Postretirement Benefits
Net periodic benefit cost for pension plans and the postretirement benefit plan
Service Cost	578	455	457
Interest Cost	945	1,025	936
Expected Return on Plan Assets	0	0	0
Amortization of Prior Service Credit	(246)	(288)	(567)
Amortization of Net Actuarial Losses (Gains)		(339)	(264)
Net Periodic Benefit Cost	$ 1,277	$ 853	$ 562

Commitments, Contingencies, and Guarantees (Tables)

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Credit Commitments

The Company’s credit commitments as of December 31, 2020, were as follows:

(dollars in thousands)	December 31, 2020
Unfunded Commitments to Extend Credit	$	2,787,123
Standby Letters of Credit		100,186
Commercial Letters of Credit		10,511
Total	$	2,897,820

Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Components of Premises and Equipment

The components of the Company’s premises and equipment as of December 31, 2020, and December 31, 2019, were as follows:

(dollars in thousands)	Cost		Accumulated Depreciation and Amortization			Net Book Value
December 31, 2020
Premises	$	370,268	$	(237,024	)	$	133,244
Equipment		143,964		(79,817	)		64,147
Finance Leases		6,593		(4,289	)		2,304
Total	$	520,825	$	(321,130	)	$	199,695

December 31, 2019
Premises	$	360,170	$	(235,031	)	$	125,139
Equipment		133,725		(72,852	)		60,873
Finance Leases		6,593		(4,217	)		2,376
Total	$	500,488	$	(312,100	)	$	188,388

Revenue Recognition - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Contract balances	$ 0	$ 0

Earnings Per Share - Schedule of Reconciliation of Weighted Average Number of Common Shares Outstanding for Computing Diluted Earnings Per Share and Antidilutive Stock Options and Restricted Stock Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Diluted Shares
Denominator for Basic Earnings Per Share (in shares)	39,726,210	40,384,328	41,714,770
Dilutive Effect of Equity Based Awards (in shares)	165,897	265,242	284,629
Denominator for Diluted Earnings Per Share (in shares)	39,892,107	40,649,570	41,999,399
Antidilutive Stock Options and Restricted Stock Outstanding (in shares)	113,410	4,905

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Allowance for Credit Losses Upon Adoption of ASU 2016-13

This “Day 1” impact of CECL adoption is summarized below:

(dollars in thousands)	December 31, 2019		CECL Adoption Impact			January 1, 2020
Allowance for Credit Losses:
Commercial	$	73,801	$	(18,789	)	$	55,012
Consumer		36,226		17,052			53,278
Total Allowance for Credit Losses		110,027		(1,737	)		108,290
Reserve for Unfunded Commitments		6,822		(3,335	)		3,487
Total Reserve for Credit Losses	$	116,849	$	(5,072	)	$	111,777
Retained Earnings
Total Pre-tax Impact			$	5,072
Tax Effect				(1,440	)
Increase to Retained Earnings			$	3,632

Business Segments - Selected Business Segment Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business segment financial information
Net Interest Income	$ 496,322	$ 497,715	$ 486,352
Provision for Credit Losses	117,800	16,000	13,425
Net Interest Income (Loss) After Provision for Credit Losses	378,522	481,715	472,927
Noninterest Income	184,409	183,338	168,923
Noninterest Expense	(373,807)	(379,227)	(371,624)
Income (Loss) Before Provision for Income Taxes	189,124	285,826	270,226
Provision for Income Taxes	(35,320)	(59,913)	(50,624)
Net Income	153,804	225,913	219,602
Total Assets	20,603,651	18,095,496	17,143,974
Consumer Banking
Business segment financial information
Net Interest Income	292,710	305,803	305,681
Provision for Credit Losses	8,087	11,685	14,837
Net Interest Income (Loss) After Provision for Credit Losses	284,623	294,118	290,844
Noninterest Income	128,400	142,378	134,342
Noninterest Expense	(289,177)	(281,662)	(277,608)
Income (Loss) Before Provision for Income Taxes	123,846	154,834	147,578
Provision for Income Taxes	(31,476)	(38,654)	(37,285)
Net Income	92,370	116,180	110,293
Total Assets	7,478,813	7,054,511	6,715,095
Commercial Banking
Business segment financial information
Net Interest Income	188,626	185,259	179,577
Provision for Credit Losses	(948)	976	(760)
Net Interest Income (Loss) After Provision for Credit Losses	189,574	184,283	180,337
Noninterest Income	34,523	33,362	23,733
Noninterest Expense	(63,294)	(84,616)	(81,344)
Income (Loss) Before Provision for Income Taxes	160,803	133,029	122,726
Provision for Income Taxes	(40,081)	(28,852)	(28,496)
Net Income	120,722	104,177	94,230
Total Assets	5,116,807	4,254,261	3,958,523
Treasury and Other
Business segment financial information
Net Interest Income	14,986	6,653	1,094
Provision for Credit Losses	110,661	3,339	(652)
Net Interest Income (Loss) After Provision for Credit Losses	(95,675)	3,314	1,746
Noninterest Income	21,486	7,598	10,848
Noninterest Expense	(21,336)	(12,949)	(12,672)
Income (Loss) Before Provision for Income Taxes	(95,525)	(2,037)	(78)
Provision for Income Taxes	36,237	7,593	15,157
Net Income	(59,288)	5,556	15,079
Total Assets	$ 8,008,031	$ 6,786,724	$ 6,470,356

Mortgage Servicing Rights - Schedule of Key Data and Assumptions Used in Estimating the Fair Value (Details) - Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Assumption For Fair Value As Of Balance Sheet Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items]
Weighted-Average Constant Prepayment Rate (as a percent)	14.42%	10.76%
Weighted-Average Life (in years)	4 years 11 months 26 days	6 years 2 months 12 days
Weighted-Average Note Rate (as a percent)	3.87%	3.99%
Weighted-Average Discount Rate (as a percent)	5.81%	7.33%

Bank of Hawaii Corporation Financial Statements - Schedule of Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements Captions [Line Items]
Investment Securities Gains (Losses), Net	$ 9,932	$ (3,986)	$ (3,938)
Noninterest Expense
Total Noninterest Expense	373,807	379,227	371,624
Income Before Income Tax Benefit and Equity in Undistributed Income of Subsidiaries	189,124	285,826	270,226
Income Tax Benefit (Expense)	35,320	59,913	50,624
Net Income	153,804	225,913	219,602
Comprehensive Income	192,738	245,844	210,751
Parent Company
Condensed Financial Statements Captions [Line Items]
Dividends from Bank of Hawaii	134,000	220,000	185,000
Investment Securities Gains (Losses), Net	13,336	(850)	(819)
Other Income	154	261	198
Total Income	147,490	219,411	184,379
Noninterest Expense
Intercompany Salaries and Services	758	768	734
Other Expenses	1,864	1,682	1,701
Total Noninterest Expense	2,622	2,450	2,435
Income Before Income Tax Benefit and Equity in Undistributed Income of Subsidiaries	144,868	216,961	181,944
Income Tax Benefit (Expense)	2,395	(1,818)	(2,229)
Equity in Undistributed Income of Subsidiaries	11,331	7,134	35,429
Net Income	153,804	225,913	219,602
Comprehensive Income	$ 192,738	$ 245,844	$ 210,751

Fair Value of Assets and Liabilities - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Details) - Significant Other Unobservable Inputs (Level 3) $ in Thousands	Dec. 31, 2020 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Carrying Amount	$ 18,694
Valuation Allowance	$ (3,892)

Leases - Schedule of Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lease Right-of-Use Assets
Operating Lease Right-of-Use Assets	$ 99,542	$ 100,838
Finance lease right-of-use assets	2,304	2,376
Total Lease Right-of-Use Assets	101,846	103,214
Lease Liabilities
Operating Lease Liabilities	107,412	108,210
Finance lease liabilities	10,481	10,565
Total Lease Liabilities	$ 117,893	$ 118,775

Shareholders' Equity - AOCI Reclass to IS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Provision for Income Tax	$ 35,320	$ 59,913	$ 50,624
Net Income	153,804	225,913	219,602
Salaries and Benefits	207,329	216,106	213,208
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Net Income	(1,788)	(1,472)	(2,553)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of Unrealized Gains(Losses) of Investment Securities Transferred from AFS to HTM [Member]
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Interest Income	(397)	(833)	(2,164)
Provision for Income Tax	105	221	569
Net Income	(292)	(612)	(1,595)
Reclassification out of Accumulated Other Comprehensive Income \| Sales of Investment Securities Available-for-Sale
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Provision for Income Tax	(50)	(49)
Net Income	27	103
Investment Securities Gains (Losses), Net	77	152
Reclassification out of Accumulated Other Comprehensive Income \| Prior Service Credit
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Salaries and Benefits	246	288	567
Reclassification out of Accumulated Other Comprehensive Income \| Net Actuarial Losses
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Salaries and Benefits	(2,318)	(1,598)	(1,835)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of Defined Benefit Pension Items
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Provision for Income Tax	549	347	310
Net Income	(1,523)	(963)	(958)
Salaries and Benefits	$ (2,072)	$ (1,310)	$ (1,268)

Shareholders' Equity - AOCI Components Pre Post & Tax Effect (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Comprehensive Income (Loss), Before Tax:
Net Unrealized Gains (Losses) Arising During the Period	$ 58,763	$ 30,169	$ (11,051)
(Gain) Loss on Sale	(77)	(152)
Amortization of Unrealized Holding (Gains) Losses on HTM Securities	397	833	2,164
Net Unrealized Gains (Losses) on Investment Securities	59,083	30,850	(8,887)
Net Actuarial Gains (Losses) Arising During the Period	(8,187)	5,046	4,468
Amortization of Net Actuarial Losses (Gains)	2,318	1,598	1,835
Amortization of Prior Service Credit	(246)	288	567
Defined Benefit Plans, Net	(6,115)	(3,736)	(3,200)
Other Comprehensive Income (Loss)	52,968	27,114	(12,087)
Other Comprehensive Income (Loss), Tax Effect:
Net Unrealized Gains (Losses) Arising During the Period	15,600	8,001	(2,931)
(Gain) Loss on Sale	(50)	(49)
Amortization of Unrealized Holding (Gains) Losses on HTM Securities	105	221	569
Net Unrealized Gains (Losses) on Investment Securities	15,655	8,173	(2,362)
Net Actuarial Gains (Losses) Arising During the Period	(2,170)	1,337	1,184
Amortization of Net Actuarial Losses (Gains)	614	423	460
Amortization of Prior Service Credit	(65)	76	150
Defined Benefit Plans, Net	(1,621)	(990)	(874)
Other Comprehensive Income (Loss)	14,034	7,183	(3,236)
Other Comprehensive Income (Loss), Net of Tax:
Net Unrealized Gains (Losses) Arising During the Period	43,163	22,168	(8,120)
(Gain) Loss on Sale	(27)	(103)
Amortization of Unrealized Holding (Gains) Losses on HTM Securities	292	612	1,595
Net Unrealized Gains (Losses) on Investment Securities	43,428	22,677	(6,525)
Net Actuarial Gains (Losses) Arising During the Period	(6,017)	3,709	3,284
Amortization of Net Actuarial Losses (Gains)	1,704	1,175	1,375
Amortization of Prior Service Credit	(181)	212	417
Defined Benefit Plans, Net	(4,494)	(2,746)	(2,326)
Other Comprehensive Income (Loss)	$ 38,934	$ 19,931	$ (8,851)

Deposits (Tables)

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Schedule of Time Deposits with Contractual Maturities

As of December 31, 2020, the contractual maturities of these time deposits were as follows:

(dollars in thousands)	Amount
2021	$	1,488,523
2022		98,656
2023		49,947
2024		11,006
2025		7,203
Thereafter		6,728
Total	$	1,662,063

As of December 31, 2020, the contractual maturities of these time deposits were as follows:

(dollars in thousands)	Amount
Three Months or Less	$	527,079
Over Three Months through Six Months		207,675
Over Six Months through Twelve Months		574,479
Over Twelve Months		79,149
Total	$	1,388,382

Cover page - USD ($)	12 Months Ended
Cover page - USD ($)	Dec. 31, 2020	Feb. 16, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	1-6887
Entity Registrant Name	BANK OF HAWAII CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	99-0148992
Entity Address, Address Line One	130 Merchant Street
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	888
Local Phone Number	643-3888
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 2,393,046,926
Entity Common Stock, Shares Outstanding		40,134,784
Entity Central Index Key	0000046195
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement relating to its 2021 Annual Meeting of Shareholders, are incorporated herein by reference in Part III of this Annual Report on Form 10-K to the extent stated herein. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year end ended December 31, 2020.
NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	BOH
Security Exchange Name	NYSE

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

Note 23. Leases

A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. On January 1, 2019, the Company adopted ASU No. 2016-02 “Leases” (Topic 842) and all subsequent ASUs that modified Topic 842. For the Company, Topic 842 primarily affected the accounting treatment for operating lease agreements in which the Company is the lessee.

Substantially all of the leases in which the Company is the lessee are comprised of real estate property for branches, ATM locations, and office space with terms extending through 2052. Portions of certain properties are subleased for terms extending through 2033. Substantially all of the Company’s leases are classified as operating leases, and therefore, were previously not recognized on the Company’s consolidated statements of condition. With the adoption of Topic 842, operating lease agreements are required to be recognized on the consolidated statements of condition as right-of-use (“ROU”) assets and corresponding lease liabilities. The Company has one existing finance lease (previously referred to as a capital lease) for a portion of the Company’s principal offices with a lease term through 2052. As this lease was previously required to be recorded on the Company’s consolidated statements of condition, Topic 842 did not materially impact the accounting for this lease.

The following table represents the consolidated statements of condition classification of the Company’s ROU assets and lease liabilities. The Company elected not to include short-term leases (i.e., leases with initial terms of twelve months or less), or equipment leases (deemed immaterial) on the consolidated statements of condition.

(dollars in thousands)		December 31, 2020		December 31, 2019
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Operating Lease Right-of-Use Assets	$	99,542	$	100,838
Finance lease right-of-use assets	Premises and Equipment, Net		2,304		2,376
Total Lease Right-of-Use Assets		$	101,846	$	103,214

Lease Liabilities
Operating lease liabilities	Operating Lease Liabilities	$	107,412	$	108,210
Finance lease liabilities	Other Debt		10,481		10,565
Total Lease Liabilities		$	117,893	$	118,775

The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019, was used. For the Company’s only finance lease, the Company utilized its incremental borrowing rate at lease inception.

	December 31, 2020			December 31, 2019
Weighted-average remaining lease term
Operating leases	17.0 years			16.8 years
Finance leases	32.0 years			33.0 years
Weighted-average discount rate
Operating leases		3.61	%		3.67	%
Finance leases		7.04	%		7.04	%

The following table represents lease costs and other lease information. As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance and utilities. Variable lease cost also includes payments for ATM location leases in which payments are based on a percentage of ATM transactions (i.e., ATM surcharge fees), rather than a fixed amount.

(dollars in thousands)	2020			2019
Lease Costs
Operating lease cost	$	12,281		$	12,616
Variable lease cost		5,549			3,504
Short-term lease cost		587			591
Finance lease cost
Interest on lease liabilities ¹		741			747
Amortization of right-of-use assets		72			72
Sublease income		(7,804	)		(8,281	)
Net lease cost	$	11,426		$	9,249

Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12,349		$	12,779
Operating cash flows from finance leases		741			747
Financing cash flows from finance leases		84			78
Right-of-use assets obtained in exchange for new operating lease liabilities		11,185			4,101
Right-of-use assets obtained in exchange for new finance lease liabilities		—			—

¹	^{Included in other debt interest expense in the Company’s consolidated statements of income. All other lease costs in this table are included in net occupancy expense.}

Rental expense for operating leases for the year ended December 31, 2018 was $19.3 million. Sublease income for the year ended December 31, 2018 was $7.6 million.

On January 22, 2021, the Board of Directors of Bank of Hawaii Corporation approved the permanently closure of 12 branches primarily located within local supermarkets in order to increase efficiency and meet changing customer needs. The branch closures are expected to be completed, subject to applicable regulatory requirements, by May 31, 2021. As a result, the Company recorded a total charge of $5.6 million during the fourth quarter of 2020. This aggregate charge included a $2.5 million impairment charge to write off the related ROU assets. The adjustment to the related lease liabilities was not material.

Future minimum payments for finance leases and operating leases with initial or remaining terms of one year or more as of December 31, 2020, were as follows:

(dollars in thousands)	Finance Leases			Operating Leases
2021	$	825		$	11,124
2022		825			10,627
2023		825			9,904
2024		825			9,190
2025		825			8,843
Thereafter		22,280			100,371
Total Future Minimum Lease Payments		26,405			150,059
Amounts Representing Interest		(15,924	)		(42,647	)
Present Value of Net Future Minimum Lease Payments	$	10,481		$	107,412

The Company, as lessor, leases and subleases certain properties to third party lessees. Rental income for these operating leases were $10.3 million, $10.7 million, and $8.7 million for the years ended December 31, 2020, and December 31, 2019, and December 31, 2018, respectively.

Future minimum rental income under operating leases, including subleases, as of December 31, 2020, were as follows:

(dollars in thousands)	Minimum Rental Income
2021	$	4,994
2022		4,019
2023		2,761
2024		1,361
2025		699
Thereafter		4,333
Total	$	18,167

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 12. Earnings Per Share

There were no adjustments to net income, the numerator, for purposes of computing basic earnings per share. The following is a reconciliation of the weighted average number of common shares outstanding for computing diluted earnings per share and antidilutive stock options and restricted stock outstanding for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

	Weighted Average Shares
	2020		2019		2018
Denominator for Basic Earnings Per Share		39,726,210		40,384,328		41,714,770
Dilutive Effect of Equity Based Awards		165,897		265,242		284,629
Denominator for Diluted Earnings Per Share		39,892,107		40,649,570		41,999,399

Antidilutive Stock Options and Restricted Stock Outstanding		113,410		4,905		—

Balance Sheet Offsetting - Schedule of Assets and Liabilities Subject to an Enforceable Master Netting Arrangement or Repurchase Agreements (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Private Institutions
Offsetting Assets And Liabilities [Line Items]
Fair value of investment securities pledged	$ 635.2	$ 645.3
Government Entities
Offsetting Assets And Liabilities [Line Items]
Fair value of investment securities pledged	$ 2.5	$ 5.5

Derivative Financial Instruments - Additional Information (Details)	Sep. 27, 2019	Jun. 28, 2018	Jun. 27, 2018	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)
Derivative [Line Items]
Liability derivatives				$ 18,161,000	$ 6,377,000
Visa Class B Restricted Securities
Derivative [Line Items]
Conversion ratio	1.6228	1.6298	1.6483
Visa Conversion Rate Swap Agreement
Derivative [Line Items]
Liability derivatives				$ 0		$ 500,000	$ 1,000,000.0

Income Taxes - Schedule of the Company's Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 65,840	$ 60,902	$ 45,464
State	12,066	14,426	11,434
Total Current	77,906	75,328	56,898
Deferred:
Federal	(31,783)	(9,630)	(2,172)
State	(10,803)	(5,785)	(4,102)
Total Deferred	(42,586)	(15,415)	(6,274)
Provision for Income Taxes	$ 35,320	$ 59,913	$ 50,624

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Loans and Leases and the Allowance for Credit Losses - Schedule of Non-Accrual Loans and Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable Nonaccrual Status [Line Items]
Non-accrual loans with a related ACL	$ 16,022
Non-accrual loans without a related ACL	127
Total Non-accrual loans	16,149	$ 17,380
Commercial
Financing Receivable Nonaccrual Status [Line Items]
Non-accrual loans with a related ACL	8,968
Non-accrual loans without a related ACL	0
Total Non-accrual loans	8,968	10,074
Commercial \| Commercial and Industrial
Financing Receivable Nonaccrual Status [Line Items]
Non-accrual loans with a related ACL	441
Non-accrual loans without a related ACL	0
Total Non-accrual loans	441	830
Commercial \| Commercial Mortgage
Financing Receivable Nonaccrual Status [Line Items]
Non-accrual loans with a related ACL	8,527
Non-accrual loans without a related ACL	0
Total Non-accrual loans	8,527	9,244
Consumer
Financing Receivable Nonaccrual Status [Line Items]
Non-accrual loans with a related ACL	7,054
Non-accrual loans without a related ACL	127
Total Non-accrual loans	7,181	7,306
Consumer \| Residential Mortgage
Financing Receivable Nonaccrual Status [Line Items]
Non-accrual loans with a related ACL	3,096
Non-accrual loans without a related ACL	127
Total Non-accrual loans	3,223	4,125
Consumer \| Home Equity
Financing Receivable Nonaccrual Status [Line Items]
Non-accrual loans with a related ACL	3,958
Non-accrual loans without a related ACL	0
Total Non-accrual loans	$ 3,958	$ 3,181

Shareholders' Equity - Change in AOCI Components Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	$ 1,286,832	$ 1,268,200	$ 1,231,868
Accounting Standards Update Extensible List	us-gaap:AccountingStandardsUpdate201613Member
Other Comprehensive Income (Loss)	$ 38,934	19,931	(8,851)
Balance at End of Period	1,374,507	1,286,832	1,268,200
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	3,632
Balance at End of Period		3,632
Unrealized Gains and Losses on Net Investment Securities \| Available-for-sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	8,359	(10,447)	(1,915)
Other Comprehensive Income (Loss) Before Reclassifications	43,163	$ 22,168	(8,120)
Accounting Standards Update Extensible List		us-gaap:AccountingStandardsUpdate201904Member
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	(27)	$ (103)
Other Comprehensive Income (Loss)	43,136	18,806	(8,120)
Reclassification of the Income Tax Effect of the Tax Reform from AOCI to RE			(412)
Balance at End of Period	51,495	8,359	(10,447)
Unrealized Gains and Losses on Net Investment Securities \| Available-for-sale Securities \| Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period		(3,259)
Balance at End of Period			(3,259)
Unrealized Gains and Losses on Net Investment Securities \| Held-to-maturity Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	(715)	$ (4,586)	(5,085)
Accounting Standards Update Extensible List		us-gaap:AccountingStandardsUpdate201904Member
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	292	$ 612	1,595
Other Comprehensive Income (Loss)	292	3,871	1,595
Reclassification of the Income Tax Effect of the Tax Reform from AOCI to RE			(1,096)
Balance at End of Period	(423)	(715)	(4,586)
Unrealized Gains and Losses on Net Investment Securities \| Held-to-maturity Securities \| Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period		3,259
Balance at End of Period			3,259
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	(38,756)	(36,010)	(27,715)
Other Comprehensive Income (Loss) Before Reclassifications	(6,017)	(3,709)	(3,284)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	1,523	963	958
Other Comprehensive Income (Loss)	(4,494)	(2,746)	(2,326)
Reclassification of the Income Tax Effect of the Tax Reform from AOCI to RE			(5,969)
Balance at End of Period	(43,250)	(38,756)	(36,010)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	(31,112)	(51,043)	(34,715)
Other Comprehensive Income (Loss) Before Reclassifications	37,146	18,459	(11,404)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	1,788	1,472	2,553
Other Comprehensive Income (Loss)	38,934	19,931	(8,851)
Reclassification of the Income Tax Effect of the Tax Reform from AOCI to RE			(7,477)
Balance at End of Period	$ 7,822	$ (31,112)	$ (51,043)

Fair Value of Assets and Liabilities - Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets:
Available-for-Sale: Fair Value	$ 3,791,689	$ 2,619,003	$ 2,007,942
Loans Held for Sale	82,565	39,062
Derivatives	96,167	28,931
Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	174,245	221,131	392,401
Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,062	22,147	56
Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	224,605	336,321	223,140
Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	1,594,815	1,172,826	190,442
Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,518,283	586,761	578,527
Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	253,839	224,720	59,380
Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	3,366,937	1,984,307	$ 828,349
Fair Value, Measurements, Recurring
Assets:
Available-for-Sale: Fair Value	3,791,689	2,619,003
Loans Held for Sale	82,565	39,062
Mortgage Servicing Rights	958	1,126
Other Assets	53,410	41,464
Derivatives	96,167	28,931
Total Assets Measured at Fair Value on a Recurring Basis	4,024,789	2,729,586
Liabilities:
Derivatives	18,161	6,377
Total Liabilities Measured at Fair Value on a Recurring Basis	18,161	6,377
Fair Value, Measurements, Recurring \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	174,245	221,131
Fair Value, Measurements, Recurring \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	24,840	55,097
Fair Value, Measurements, Recurring \| Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,062	22,147
Fair Value, Measurements, Recurring \| Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	224,605	336,321
Fair Value, Measurements, Recurring \| Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	1,594,815	1,172,826
Fair Value, Measurements, Recurring \| Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,518,283	586,761
Fair Value, Measurements, Recurring \| Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	253,839	224,720
Fair Value, Measurements, Recurring \| Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	3,366,937	1,984,307
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Assets:
Available-for-Sale: Fair Value	921	1,155
Loans Held for Sale	0	0
Mortgage Servicing Rights	0	0
Other Assets	53,410	41,464
Derivatives	0	0
Total Assets Measured at Fair Value on a Recurring Basis	54,331	42,619
Liabilities:
Derivatives	0	0
Total Liabilities Measured at Fair Value on a Recurring Basis	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	921	1,155
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2)
Assets:
Available-for-Sale: Fair Value	3,790,768	2,617,848
Loans Held for Sale	82,565	39,062
Mortgage Servicing Rights	0	0
Other Assets	0	0
Derivatives	878	308
Total Assets Measured at Fair Value on a Recurring Basis	3,874,211	2,657,218
Liabilities:
Derivatives	752	327
Total Liabilities Measured at Fair Value on a Recurring Basis	752	327
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	173,324	219,976
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	24,840	55,097
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,062	22,147
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	224,605	336,321
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	1,594,815	1,172,826
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,518,283	586,761
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	253,839	224,720
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	3,366,937	1,984,307
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3)
Assets:
Available-for-Sale: Fair Value	0	0
Loans Held for Sale	0	0
Mortgage Servicing Rights	958	1,126
Other Assets	0	0
Derivatives	95,289	28,623
Total Assets Measured at Fair Value on a Recurring Basis	96,247	29,749
Liabilities:
Derivatives	17,409	6,050
Total Liabilities Measured at Fair Value on a Recurring Basis	17,409	6,050
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	$ 0	$ 0

Share-Based Compensation - Schedule of Activity for Restricted Stock (Details) - Restricted Stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Shares
Unvested, Beginning Balance	309,949	314,487	320,103
Granted	161,168	130,093	120,173
Vested	(99,894)	(107,759)	(110,231)
Forfeited	(42,454)	(26,872)	(15,558)
Unvested, Ending Balance	328,769	309,949	314,487
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance	$ 83.75	$ 78.17	$ 69.36
Granted	80.97	82.82	83.87
Vested	84.69	66.46	59.41
Forfeited	84.36	83.34	73.82
Unvested, Ending Balance	$ 82.02	$ 83.75	$ 78.17
Grant Date Fair Value of Restricted Stock that Vested During the Year
Vested	$ 8,544	$ 8,910	$ 9,081

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net Income	$ 153,804	$ 225,913	$ 219,602
Other Comprehensive Income (Loss), Net of Tax:
Net Unrealized Gains (Losses) on Investment Securities	43,428	22,677	(6,525)
Defined Benefit Plans	(4,494)	(2,746)	(2,326)
Other Comprehensive Income (Loss)	38,934	19,931	(8,851)
Comprehensive Income	$ 192,738	$ 245,844	$ 210,751

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share-Based Compensation - Summary of Certain Stock Option Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock options activity
Intrinsic Value of Stock Options Exercised	$ 2,261	$ 1,106	$ 1,634
Cash Received from Stock Options Exercised	2,438	1,473	1,791
Tax Benefits Realized from Stock Options Exercised	$ 485	$ 727	$ 240

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Stockholders Equity [Abstract]
Dividends Declared Per Share	$ 2.68	$ 2.59	$ 2.34

Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2020

Transfers And Servicing Of Financial Assets [Abstract]

Summary of Carrying Value Under the Fair Value Measurement Method

(dollars in thousands)	2020			2019			2018
Balance at Beginning of Year	$	1,126		$	1,290		$	1,454
Changes in Fair Value:
Due to Payoffs		(168	)		(164	)		(164	)
Total Changes in Fair Value of Mortgage Servicing Rights		(168	)		(164	)		(164	)
Balance at End of Year	$	958		$	1,126		$	1,290

Summary of Carrying Value Under the Amortization Method

(dollars in thousands)	2020			2019			2018
Balance at Beginning of Year	$	23,896		$	23,020		$	23,168
Servicing Rights that Resulted From Asset Transfers		3,592			4,485			2,470
Amortization		(4,902	)		(3,609	)		(2,618	)
Valuation Allowance Recovery (Provision)		(3,892	)		—			—
Balance at End of Year	$	18,694		$	23,896		$	23,020
Valuation Allowance:
Balance at Beginning of Year	$	—		$	—		$	—
Valuation Allowance Recovery (Provision)		(3,892	)		—			—
Balance at End of Year	$	(3,892	)	$	—		$	—
Fair Value:
Balance at Beginning of Year	$	25,714		$	29,218		$	26,716
Balance at End of Year	$	18,694		$	25,714		$	29,218

Schedule of Key Data and Assumptions Used in Estimating the Fair Value

The key data and assumptions used in estimating the fair value of the Company’s mortgage servicing rights as of December 31, 2020, and December 31, 2019 were as follows:

	December 31,
	2020			2019
Weighted-Average Constant Prepayment Rate ¹	14.42		%	10.76		%
Weighted-Average Life (in years)		4.99			6.20
Weighted-Average Note Rate	3.87		%	3.99		%
Weighted-Average Discount Rate ²	5.81		%	7.33		%

¹	Represents annualized loan prepayment rate assumption.

²	Derived from multiple interest rate scenarios that incorporate a spread to a market yield curve and market volatilities.

Schedule of Sensitivity Analysis of the Fair Value

	December 31,
(dollars in thousands)	2020			2019
Constant Prepayment Rate
Decrease in fair value from 25 basis points (“bps”) adverse change	$	(203	)	$	(296	)
Decrease in fair value from 50 bps adverse change		(401	)		(586	)
Discount Rate
Decrease in fair value from 25 bps adverse change		(184	)		(264	)
Decrease in fair value from 50 bps adverse change		(365	)		(522	)

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note 17. Derivative Financial Instruments

The notional amount and fair value of the Company’s derivative financial instruments as of December 31, 2020, and December 31, 2019, were as follows:

	December 31, 2020					December 31, 2019
(dollars in thousands)	Notional Amount		Fair Value			Notional Amount		Fair Value
Interest Rate Lock Commitments	$	102,881	$	4,947		$	48,677	$	1,280
Forward Commitments		158,759		(740	)		82,735		(182	)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,362,778		90,130			802,389		26,070
Pay Fixed/Receive Variable Swaps		1,362,778		(17,197	)		802,389		(4,777	)
Foreign Exchange Contracts		90,587		866			85,499		163
Conversion Rate Swap Agreement		133,286		—			114,499		—

The following table presents the Company’s derivative financial instruments, their fair values, and their location in the consolidated statements of condition as of December 31, 2020, and December 31, 2019:

	December 31, 2020				December 31, 2019
Derivative Financial Instruments Not Designated as Hedging Instruments ¹ (dollars in thousands)	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
Interest Rate Lock Commitments	$	4,947	$	—	$	1,280	$	—
Forward Commitments		—		740		23		205
Interest Rate Swap Agreements		90,342		17,409		27,344		6,051
Foreign Exchange Contracts		878		12		284		121
Total	$	96,167	$	18,161	$	28,931	$	6,377

¹	Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition.

The following table presents the Company’s derivative financial instruments and the amount and location of the net gains or losses recognized in the consolidated statements of income for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

	Location of Net Gains	Year Ended December 31,
Derivative Financial Instruments Not Designated as Hedging Instruments (dollars in thousands)	(Losses)Recognized in the Statements of Income	2020			2019			2018
Interest Rate Lock Commitments	Mortgage Banking	$	22,348		$	12,185		$	3,534
Forward Commitments	Mortgage Banking		(4,274	)		(2,340	)		821
Interest Rate Swap Agreements	Other Noninterest Income		15,468			7,172			1,835
Foreign Exchange Contracts	Other Noninterest Income		1,940			2,891			3,163
Conversion Rate Swap Agreement	Investment Securities Gains (Losses), Net		—			(453	)		(1,000	)
Total		$	35,482		$	19,455		$	8,353

Management has received authorization from the Bank’s Board of Directors to use derivative financial instruments as an end-user in connection with the Bank’s risk management activities and to accommodate the needs of the Bank’s customers. As with any financial instrument, derivative financial instruments have inherent risks. Market risk is defined as the risk of adverse financial impact due to fluctuations in interest rates, foreign exchange rates, and equity prices. Market risks associated with derivative financial instruments are balanced with the expected returns to enhance earnings performance and shareholder value, while limiting the volatility of each. The Company uses various processes to monitor its overall market risk exposure, including sensitivity analysis, value-at-risk calculations, and other methodologies.

Derivative financial instruments are also subject to credit and counterparty risk, which is defined as the risk of financial loss if a borrower or counterparty is either unable or unwilling to repay borrowings or settle transactions in accordance with the underlying contractual terms. Credit and counterparty risks associated with derivative financial instruments are similar to those relating to traditional financial instruments. The Company manages derivative credit and counterparty risk by evaluating the creditworthiness of each borrower or counterparty, adhering to the same credit approval process used for commercial lending activities.

As of December 31, 2020, and December 31, 2019, the Company did not designate any derivative financial instruments as formal hedging relationships. The Company’s free-standing derivative financial instruments are required to be carried at their fair value on the Company’s consolidated statements of condition. These financial instruments have been limited to interest rate lock commitments (“IRLCs”), forward commitments, swap agreements, foreign exchange contracts, and conversion rate swap agreements.

The Company enters into IRLCs for residential mortgage loans which commit us to lend funds to a potential borrower at a specific interest rate and within a specified period of time. IRLCs that relate to the origination of mortgage loans that will be held for sale are considered derivative financial instruments under applicable accounting guidance. Outstanding IRLCs expose the Company to the risk that the price of the mortgage loans underlying the commitments may decline due to increases in mortgage interest rates from inception of the rate lock to the funding of the loan. To mitigate this risk, the Company utilizes forward commitments as economic hedges against the potential decreases in the values of the loans held for sale. IRLCs and forward commitments are free-standing derivatives which are carried at fair value with changes recorded in the mortgage banking component of noninterest income in the Company’s consolidated statements of income.

The Company enters into swap agreements to facilitate the risk management strategies of a small number of commercial banking customers. The Company mitigates the interest rate risk of entering into these agreements by entering into equal and offsetting interest rate swap agreements with highly rated third party financial institutions. The interest rate swap agreements are free-standing derivatives and are recorded at fair value in the Company’s consolidated statements of condition. Fair value changes are recorded in other noninterest income in the Company’s consolidated statements of income. The Company is party to master netting arrangements with its financial institution counterparties; however, the Company does not offset assets and liabilities under these arrangements for financial statement presentation purposes. Collateral, usually in the form of cash or marketable securities, is posted by the counterparty with net liability positions in accordance with contract thresholds. See Note 19 Balance Sheet Offsetting for more information.

The Company’s interest rate swap agreements with financial institution counterparties may contain credit-risk-related contingent features tied to a specified credit rating of the Company. Under these provisions, should the Company’s specified rating fall below a particular level (e.g., investment grade), or if the Company no longer obtains the specified rating, the counterparty may require the Company to pledge collateral on an immediate and ongoing basis (subject to the requirement that such swaps are in a net liability position beyond the level specified in the contract), or require immediate settlement of the swap agreement. Other credit-risk-related contingent features may also allow the counterparty to require immediate settlement of the swap agreement if the Company fails to maintain a specified minimum level of capitalization.

With regard to derivative contracts not centrally cleared through a clearinghouse, regulations require collateral to be posted by the party with a net liability position (i.e., the threshold for posting collateral was reduced to zero, subject to certain minimum transfer amounts). The requirements generally applied to new derivative contracts entered into by the Company after March 1, 2017, although certain counterparties may elect to apply lower thresholds to existing contracts.

Parties to a centrally cleared over-the-counter derivative exchange daily payments that reflect the daily change in value of the derivative. These payments are commonly referred to as variation margin. Historically, variation margin payments have typically been treated as collateral against the derivative position. Effective 2017, the Chicago Mercantile Exchange and LCH.Clearnet Limited (collectively, the “clearinghouses”) amended their rulebooks to legally characterize variation margin payments for over-the-counter derivatives they clear as settlements of the derivatives’ mark-to-market exposure rather than collateral against the exposures. This rule change effectively causes any derivative cleared through one of the clearinghouses to have a fair value that approximates zero on a daily basis. The majority of the Company’s swap agreements executed with third party financial institutions are now required to be cleared through one of the clearinghouses. The uncleared swap agreements executed with third party financial institutions will remain subject to the collateral requirements and credit-risk-related contingent features described in the previous paragraphs, and therefore, are not subject to the variation margin rule change. Likewise, the swap agreements executed with the Company’s commercial banking customers will remain uncleared and will also not be subject to the variation margin rule change.

The Company utilizes foreign exchange contracts to offset risks related to transactions executed on behalf of customers. The foreign exchange contracts are free-standing derivatives which are carried at fair value with changes included in other noninterest income in the Company’s consolidated statements of income.

As certain sales of Visa Class B restricted shares were completed, the Company entered into a conversion rate swap agreement with the buyer that requires payment to the buyer in the event Visa further reduces the conversion ratio of Class B into Class A unrestricted common shares. In the event of Visa increasing the conversion ratio, the buyer would be required to make payment to the Company. In September 2019, Visa announced a reduction of the conversion ratio from 1.6298 to 1.6228 effective September 27, 2019. As a result, the Company recorded a $0.5 million liability in September 2019 which represented the amount paid to the buyers of the Visa Class B shares in October 2019. In June 2018, Visa announced a reduction of the conversion ratio from 1.6483 to 1.6298 effective June 28, 2018. As a result, the Company recorded a $1.0 million liability in June 2018 which represented the amount paid to the buyers of the Visa Class B shares in July 2018. As of December 31, 2020, the conversion rate swap agreement was valued at zero (i.e., no contingent liability recorded) as further reductions to the conversion ratio were deemed neither probable nor reasonably estimable by management. See Note 3 Investment Securities for more information.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Presentation

Bank of Hawaii Corporation (the “Parent”) is a Delaware corporation and a bank holding company headquartered in Honolulu, Hawaii. Bank of Hawaii Corporation and its subsidiaries (collectively, the “Company”) provide a broad range of financial products and services to customers in Hawaii, Guam, and other Pacific Islands. The majority of the Company’s operations consist of customary commercial and consumer banking services including, but not limited to, lending, leasing, deposit services, trust and investment activities, brokerage services, and trade financing.

The accounting and reporting principles of the Company conform to U.S. generally accepted accounting principles (“GAAP”) and prevailing practices within the financial services industry. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results may differ from those estimates and such differences could be material to the financial statements.

Certain prior period information has been reclassified to conform to the current year presentation.

Consolidation

The accompanying consolidated financial statements include the accounts of the Parent and its subsidiaries. The Parent’s principal operating subsidiary is Bank of Hawaii (the “Bank”). All significant intercompany accounts and transactions have been eliminated in consolidation.

Variable Interest Entities

Variable interests are defined as contractual ownership or other interests in an entity that change with fluctuations in an entity’s net asset value. The primary beneficiary consolidates the variable interest entity (“VIE”). The primary beneficiary is defined as the enterprise that has both the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits that could be significant to the VIE.

The Company has limited partnership interests in several low-income housing partnerships. These partnerships provide funds for the construction and operation of apartment complexes that provide affordable housing to lower-income households. If these developments successfully attract a specified percentage of residents falling in that lower income range, state and/or federal income tax credits are made available to the partners. The tax credits are generally recognized over 10 years for federal and 5 years for state. In order to continue receiving the tax credits each year over the life of the partnership, the low-income residency targets must be maintained.

Prior to January 1, 2015, the Company utilized the effective yield method whereby the Company recognized tax credits generally over 10 years and amortized the initial cost of the investment to provide a constant effective yield over the period that tax credits are allocated to the Company. On January 1, 2015, the Company adopted Accounting Standards Update (“ASU”) No. 2014-01, “Accounting for Investments in Qualified Affordable Housing Projects” prospectively for new investments. ASU No. 2014-01 permits reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. As permitted by ASU No. 2014-01, the Company elected to continue to utilize the effective yield method for investments made prior to January 1, 2015.

Unfunded commitments to fund these low-income housing partnerships were $53.0 million and $21.3 million as of December 31, 2020, and December 31, 2019, respectively. These unfunded commitments are unconditional and legally binding and are recorded in other liabilities in the consolidated statements of condition. See Note 18 Affordable Housing Projects Tax Credit Partnerships for more information.

The Company also has limited partnership interests in solar energy tax credit partnership investments. These partnerships develop, build, own and operate solar renewable energy projects. Over the course of these investments, the Company expects to receive federal and state tax credits, tax-related benefits, and excess cash available for distribution, if any. The Company may be called to sell its interest in the limited partnerships through a call option once all investment tax credits have been recognized. Tax benefits associated with these investments are generally recognized over 6 years.

Although these entities meet the definition of a VIE, the Company is not the primary beneficiary of the entities, as the general partner has both the power to direct the activities that most significantly impact the economic performance of the entities and the obligation to absorb losses or the right to receive benefits that could be significant to the entities. While the partnership agreements allow the limited partners, through a majority vote, to remove the general partner, this right is not deemed to be substantive as the general partner can only be removed for cause.

The investments in these entities are initially recorded at cost, which approximates the maximum exposure to loss as a result of the Company’s involvement with these unconsolidated entities. The balance of the Company’s investments in these entities was $143.0 million and $84.6 million as of December 31, 2020, and December 31, 2019, respectively, and is included in other assets in the consolidated statements of condition.

Investment Securities

Investment securities are accounted for according to their purpose and holding period. Trading securities are those that are bought and held principally for the purpose of selling them in the near term. The Company held no trading securities as of December 31, 2020 or December 31, 2019. Available-for-sale investment securities, comprised of debt and mortgage-backed securities, are those that may be sold before maturity due to changes in the Company’s interest rate risk profile or funding needs, and are reported at fair value with unrealized gains and losses, net of taxes, reported as a component of other comprehensive income. Held-to-maturity investment securities, comprised of debt and mortgage-backed securities, are those that management has the positive intent and ability to hold to maturity and are reported at amortized cost.

Realized gains and losses are recorded in noninterest income and are determined on a trade date basis using the specific identification method. Interest and dividends on investment securities are recognized in interest income on an accrual basis. Premiums and discounts are amortized or accreted into interest income using the interest method over the expected lives of the individual securities.

Transfers of debt securities from the available-for-sale category to the held-to-maturity category are made at fair value at the date of transfer. The unrealized holding gain or loss at the date of transfer remains in accumulated other comprehensive income and in the carrying value of the held-to-maturity investment security. Premiums or discounts on investment securities are amortized or accreted as an adjustment of yield using the interest method over the estimated life of the security. Unrealized holding gains or losses that remain in accumulated other comprehensive income are also amortized or accreted over the estimated life of the security as an adjustment of yield, offsetting the related amortization of the premium or accretion of the discount.

Loans Held for Sale

Residential mortgage loans with the intent to be sold in the secondary market are accounted for on an aggregate basis under the fair value option. Fair value is primarily determined based on quoted prices for similar loans in active markets. Non-refundable fees and direct loan origination costs related to residential mortgage loans held for sale are recognized as part of the cost basis of the loan at the time of sale. Gains and losses on sales of residential mortgage loans (sales proceeds minus carrying value) are recorded in the mortgage banking component of noninterest income.

Commercial loans that management has an active plan to sell are valued on an individual basis at the lower-of-cost-or fair value. Fair value is primarily determined based on quoted prices for similar loans in active markets or agreed upon sales prices. Any reduction in the loan’s value, prior to being transferred to the held-for-sale category, is reflected as a charge-off of the recorded investment in the loan resulting in a new cost basis, with a corresponding reduction in the allowance for credit losses (the “Allowance”). Further decreases in the fair value of the loan are recognized in noninterest expense.

Loans and Leases

Loans are reported at the principal amount outstanding, net of unearned income including unamortized deferred loan fees and costs, and cumulative net charge-offs. Interest income is recognized on an accrual basis. Loan origination fees, certain direct costs, and unearned discounts and premiums, if any, are deferred and are generally amortized into interest income as yield adjustments using the interest method over the contractual life of the loan. Loan commitment fees are generally recognized into noninterest income. Other credit-related fees are recognized as fee income, a component of noninterest income, when earned.

The Company’s lease financing arrangements, excluding leveraged leases, primarily consist of equipment and automobile leases. These lease arrangements are classified as sales-type leases despite not receiving a selling profit at lease inception. Sales-type leases are carried at the aggregate of lease payments receivable plus the estimated residual value of leased property, less unearned income. Leveraged leases are carried net of non-recourse debt. Unearned income on sales-type and leveraged leases is amortized over the lease term by methods that approximate the interest method. Residual values on leased assets are periodically reviewed for impairment.

Portfolio segments are defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses. Management has designated two portfolio segments of loans and leases, commercial and consumer. These portfolio segments are further disaggregated into classes, which represent loans and leases of similar type, risk characteristics, and methods for monitoring and assessing credit risk. The commercial portfolio segment is disaggregated into four classes, commercial and industrial, commercial mortgage, construction, and lease financing. The consumer portfolio segment is also disaggregated into four classes, residential mortgage, home equity, auto, and other (which is comprised of revolving credit, installment, and consumer lease financing arrangements).

Non-Performing Loans and Leases

Generally, all classes of commercial loans and leases are placed on non-accrual status upon becoming contractually past due 90 days as to principal or interest (unless loans and leases are adequately secured by collateral, are in the process of collection, and are reasonably expected to result in repayment), when terms are renegotiated below market levels, or where substantial doubt about full repayment of principal or interest is evident. For residential mortgage and home equity loan classes, loans past due 120 days as to principal or interest may be placed on non-accrual status, and a partial charge-off may be recorded, depending on the collateral value and/or the collectability of the loan. For automobile and other consumer loan classes, the entire outstanding balance of the loan is charged off when the loan becomes 120 days past due as to principal or interest.

When a loan or lease is placed on non-accrual status, the accrued and unpaid interest receivable is reversed and the loan or lease is accounted for on the cash or cost recovery method until qualifying for return to accrual status. All payments received on non-accrual loans and leases are applied against the principal balance of the loan or lease. A loan or lease may be returned to accrual status when all delinquent interest and principal become current in accordance with the terms of the loan or lease agreement and when doubt about repayment is resolved.

Generally, for all classes of loans and leases, a charge-off is recorded when it is probable that a loss has been incurred and when it is possible to determine a reasonable estimate of the loss. For all classes of commercial loans and leases, a charge-off is determined on a judgmental basis after due consideration of the debtor’s prospects for repayment and the fair value of collateral. For the pooled segment of the Company’s commercial and industrial loan class, which consists of small business loans, the entire outstanding balance of the loan remains on accrual status until it is charged off during the month that the loan becomes 120 days past due as to principal or interest. As previously mentioned, for residential mortgage and home equity loan classes, a partial charge-off may be recorded at 120 days past due as to principal or interest depending on the collateral value and/or the collectability of the loan. In the event that a loan or line in the home equity loan class is behind another financial institution’s first mortgage, the entire outstanding balance of the loan is charged off when the loan becomes 120 days past due as to principal or interest, unless the combined loan-to-value ratio is 60% or less. As noted above, loans in the automobile and other consumer loan classes are charged off in its entirety upon the loan becoming 120 days past due as to principal or interest.

Loans Modified in a Troubled Debt Restructuring

Loans are considered to have been modified in a troubled debt restructuring when, due to a borrower’s financial difficulties, the Company makes certain concessions to the borrower that it would not otherwise consider. Modifications may include interest rate reductions, principal or interest forgiveness, forbearance, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral. Generally, a non-accrual loan that has been modified in a troubled debt restructuring remains on non-accrual status for a period of at least 6 months to demonstrate that the borrower is able to meet the terms of the modified loan. However, performance prior to the modification, or significant events that coincide with the modification, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of loan modification or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains on non-accrual status.

The Company began offering short-term loan modifications to assist borrowers during the COVID-19 pandemic. If the modification meets certain conditions, the modification does not need to be accounted for as a TDR. See the Operating, Accounting and Reporting Considerations related to COVID-19 section below for more information.

Reserve for Credit Losses

The Company’s reserve for credit losses is comprised of the Allowance and the reserve for unfunded commitments (the “Unfunded Reserve”). As of December 31, 2020, the reserve for credit losses also included a reserve for accrued interest receivable related to loans in which interest payment forbearances were granted to borrowers impacted by the COVID-19 pandemic.

Allowance for Credit Losses - Loans and Leases (the “Allowance”)

The current expected credit loss (“CECL”) approach requires an estimate of the credit losses expected over the life of an exposure (or pool of exposures). It replaces the incurred loss approach’s threshold that delayed the recognition of a credit loss until it was probable a loss event was incurred.

The estimate of expected credit losses is based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. Historical loss experience is generally the starting point for estimating expected credit losses. The Company then considers whether the historical loss experience should be adjusted for asset-specific risk characteristics or current conditions at the reporting date that did not exist over the historical period used. The Company also considers future economic conditions and portfolio performance as part of a reasonable and supportable forecast period.

As previously mentioned, portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses. The Company has designated two portfolio segments of loans and leases, commercial and consumer. These portfolio segments are further disaggregated into classes, which represent loans and leases of similar type, risk characteristics, and methods for monitoring and assessing credit risk. The commercial portfolio segment is disaggregated into four classes, commercial and industrial, commercial mortgage, construction, and lease financing. The consumer portfolio segment is also disaggregated into four classes, residential mortgage, home equity, auto, and other (which is comprised of revolving credit, installment, and consumer lease financing arrangements). Each commercial and consumer portfolio class is also segmented based on risk characteristics.

Commercial Portfolio Segment

The historical loss experience for the commercial portfolio segment is primarily determined using a Cohort method. This method pools loans into groups (“cohorts”) sharing similar risk characteristics and tracks each cohort’s historical net charge-offs to calculate a historical loss rate. The historical loss rates for each cohort are then averaged to calculate an overall historical loss rate which is applied to current loan balances to arrive at the quantitative baseline portion of the Allowance for most of the commercial portfolio segment.

The Company also considers qualitative adjustments to the quantitative baseline. For example, the Company considers the impact of current environmental factors at the reporting date that did not exist over the period from which historical experience was used. Relevant factors include, but are not limited to, concentrations of credit risk (geographic, large borrower, and industry), economic trends and conditions, changes in underwriting standards, experience and depth of lending staff, trends in delinquencies, and the level of criticized loans.

The Company also incorporates a reasonable and supportable (“R&S”) loss forecast period, which is currently one year, to account for the effect of forecasted economic conditions and other factors on the performance of the commercial portfolio, which could differ from historical loss experience. The Company performs a quarterly asset quality review which includes a review of forecasted gross charge-offs and recoveries, nonperforming assets, criticized loans and leases, and risk rating migration. The asset quality review is reviewed by management and the results are used to consider a qualitative adjustments to the quantitative baseline. After the one-year R&S loss forecast period, this adjustment assumes an immediate reversion to historical loss rates for the remaining expected life of the loan.

The Company establishes a specific reserve for individually evaluated loans which do not share similar risk characteristics with the loans included in the quantitative baseline. These individually evaluated loans are removed from the pooling approach discussed above for the quantitative baseline, and include non-accrual loans, troubled debt restructurings (“TDRs”), and other loans as deemed appropriate by management. In addition, the Company individually evaluates “reasonably expected” TDRs, which are identified by the Company as a commercial loan expected to be classified as a TDR within the next six months. Management judgment is utilized to make this determination.

Consumer Portfolio Segment

The historical loss experience for the consumer portfolio segment is primarily determined using a Vintage method. This method measures historical loss behavior in the form of a historical loss rate for homogenous loan pools that originate in the same period, known as a vintage. The historical loss rates are then applied to origination loan balances by vintage to determine the quantitative baseline portion of the Allowance for most of the consumer portfolio segment. The homogenous loan pools are segmented according to similar risk characteristics (e.g., residential mortgage, home equity) and may be sub-segmented further (e.g., geography, lien position) depending on the product.

The Company also considers qualitative adjustments to the quantitative baseline. For example, the Company considers the impact of current environmental factors at the reporting date that did not exist over the period from which historical experience was used. The environmental factors considered for the consumer portfolio are similar to the aforementioned factors considered for the commercial portfolio.

The Company also incorporates a one-year R&S loss forecast period to account for forecasted economic conditions and other factors on the performance of the consumer portfolio which could differ from historical loss experience. The Company performs a quarterly asset quality review designed to estimate gross charge-offs and recoveries for the forecast period. Management evaluates additional factors that may not be reflected in the net charge-off forecast to determine whether a qualitative adjustment is warranted.

As of the January 1, 2020 implementation date, and following the one-year R&S loss forecast period, the Company chose a reversion back to average historical loss rates using a straight line method based on forecasted and relatively benign economic conditions at the measurement date, with the exception of the home equity portfolio. For the home equity portfolio, the Company elected to revert back to average historical loss rates using a straight line method over the halfway point of the average life of the portfolio. The halfway point is used for the home equity portfolio given the longer average life length compared to the other consumer portfolios.

Since the first quarter of 2020, the Company has chosen an immediate reversion back to average historical loss rates following the one-year R&S loss forecast period. The reversion method, however, does not reflect the potential for higher losses than pre-pandemic levels due to the impact of COVID-19 beyond the R&S loss forecast period, which the Company has addressed through other qualitative adjustments.

The Company establishes a specific reserve for individually evaluated loans that do not share similar risk characteristics with the loans included in the quantitative baseline. These individually evaluated loans include “reasonably expected” TDRs, identified by the Company as a consumer loan for which a borrower’s application of loan modification due to hardship has been approved by the Company.

See Note 4 Loans and Leases and the Allowance for Credit Losses for more information.

Allowance for Credit Losses - Held-to-Maturity (“HTM”) Debt Securities

The Company’s HTM debt securities are also required to utilize the CECL approach to estimate expected credit losses. Substantially all of the Company’s HTM debt securities are issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Therefore, the Company did not record an allowance for credit losses for these securities.

The Company also carries a limited portfolio of HTM municipal bonds. As of December 31, 2020, the entire portfolio consisted of State of Hawaii bonds carrying a Moody’s rating of Aa2, with a portion of these bonds escrowed to maturity. To estimate the expected credit losses, the Company utilized the probability of default (“PD”)/loss given default (“LGD”) methodology. The PD, which represents the percentage likelihood that a bond will default over a given time period, is primarily based upon the bond’s current credit rating and maturity and computed using Moody’s rating transition matrix, which provides the probability of a rating migrating to default within a one-year period (adjustments are made for longer maturities). The LGD, which represents the percentage of loss if a default occurs, is based on the median recovery rate for municipals according to Moody’s. The Company’s exposure at default, represented by the carrying value of the municipal bond portfolio, is multiplied with the PD and the LGD to arrive at the expected credit loss. Management may exercise discretion to make adjustments based on environmental factors. As of December 31, 2020, the Company determined that the expected credit loss on its municipal bond portfolio was de minimis, and therefore, an allowance for credit losses was not recorded. See Note 3 Investment Securities for more information.

Allowance for Credit Losses - Available-for-Sale (“AFS”) Debt Securities

The impairment model for available-for-sale (“AFS”) debt securities differs from the CECL approach utilized by HTM debt securities because AFS debt securities are measured at fair value rather than amortized cost. Although ASU No. 2016-13 replaced the legacy other-than-temporary impairment (“OTTI”) model with a credit loss model, it retained the fundamental nature of the legacy OTTI model. One notable change from the legacy OTTI model is when evaluating whether credit loss exists, an entity may no longer consider the length of time fair value has been less than amortized cost. For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria is met, the security’s amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit losses. Losses are charged against the allowance when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of December 31, 2020, the Company determined that the unrealized loss positions in AFS securities were not the result of credit losses, and therefore, an allowance for credit losses was not recorded. See Note 3 Investment Securities for more information.

Accrued Interest Receivable

Upon adoption of ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” and its related amendments on January 1, 2020, the Company made the following elections regarding accrued interest receivable:

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Presenting accrued interest receivable balances separately within another consolidated statements of condition line item.

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Excluding accrued interest receivable that is included in the amortized cost of financing receivables from related disclosure requirements.

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Continuing our policy to write off accrued interest receivable by reversing interest income. For commercial loans, the write off typically occurs upon becoming 90 days past due. For consumer loans, the write off typically occurs upon becoming 120 days past due. Historically, the Company has not experienced uncollectible accrued interest receivable on its investment securities. However, the Company would generally write off accrued interest receivable by reversing interest income if the Company does not reasonably expect to receive payments. Due to the timely manner in which accrued interest receivables are written off, the amounts of such write offs are immaterial.

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Not measuring an allowance for credit losses for accrued interest receivable due to the Company’s policy of writing off uncollectible accrued interest receivable balances in a timely manner, as described above.

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The Company began offering loan modifications to assist borrowers negatively impacted by the COVID-19 national emergency. In general, the Company does not classify such loans as nonperforming and continues to accrue and recognize interest income during the forbearance period. For these loans, the Company evaluates the need to record an allowance for the related accrued interest receivable balances as any amounts that may become uncollectible may not be considered written off in a timely manner. On December 31, 2020, the Company recorded a $2.7 million reserve on accrued interest receivable related to loans in which interest payment forbearances were granted to borrowers impacted by the COVID-19 pandemic. The reserve was recorded as a contra-asset against accrued interest receivable with the offset to provision for credit losses. See the Operating, Accounting and Reporting Considerations related to COVID-19 section below for further discussion on COVID-19 loan modifications.

Collateral-Dependent Loans

A financial asset is considered collateral-dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. For all classes of loans and leases deemed collateral-dependent, the Company elected the practical expedient to estimate expected credit losses based on the collateral’s fair value less cost to sell. In most cases, the Company records a partial charge-off to reduce the loan’s carrying value to the collateral’s fair value less cost to sell. Substantially all of the collateral consists of various types of real estate including residential properties; commercial properties such as retail centers, office buildings, and lodging; agriculture land; and vacant land.

Reserve for Unfunded Commitments

The Unfunded Reserve represents the expected credit losses on off-balance sheet commitments such as unfunded commitments to extend credit and standby letters of credit. However, a liability is not recognized for commitments unconditionally cancellable by the Company. The Unfunded Reserve is recognized as a liability (other liabilities in the consolidated statements of condition), with adjustments to the reserve recognized in other noninterest expense in the consolidated statements of income. The Unfunded Reserve is determined by estimating future draws and applying the expected loss rates on those draws. Future draws are based on historical averages of utilization rates (i.e., the likelihood of draws taken). To estimate future draws on unfunded balances, current utilization rates are compared to historical utilization rates. If current utilization rates are below historical utilization rates, the rate difference is applied to the committed balance to estimate the future draw. Loss rates are estimated by utilizing the same loss rates calculated for the Allowance general reserves. For the commercial portfolio, the historical loss rates were calculated utilizing the Cohort methodology, while the consumer portfolio utilized the Vintage methodology.

Operating, Accounting and Reporting Considerations related to COVID-19

The COVID-19 pandemic has negatively impacted the global economy, including Hawaii and the Pacific Islands. In response to this crisis, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was passed by Congress and signed into law on March 27, 2020. The CARES Act provides an estimated $2.2 trillion to fight the COVID-19 pandemic and stimulate the economy by supporting individuals and businesses through loans, grants, tax changes, and other types of relief. Some of the provisions applicable to the Company include, but are not limited to:

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Accounting for Loan Modifications – Section 4013 of the CARES Act provides that a financial institution may elect to suspend (1) the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR and (2) any determination that such loan modifications would be considered a TDR, including the related impairment for accounting purposes. See Note 4 Loans and Leases and the Allowance for Credit Losses for more information.

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Paycheck Protection Program - The CARES Act established the Paycheck Protection Program (“PPP”), an expansion of the Small Business Administration’s (“SBA”) 7(a) loan program and the Economic Injury Disaster Loan Program (“EIDL”), administered directly by the SBA. On December 27, 2020 the Consolidated Appropriations Act, 2021 (“CAA”) was signed into law. The CAA provides several amendments to the PPP, including additional funding for first and second draws of PPP loans up to March 31, 2021. The Company is a participant in the PPP. See Note 4 Loans and Leases and the Allowance for Credit Losses for more information.

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Mortgage Forbearance - Under the CARES Act, through the earlier of December 31, 2020, or the termination date of the COVID-19 national emergency, a borrower with a federally backed mortgage loan that is experiencing financial hardship due to COVID-19 may request a forbearance. A multifamily borrower with a federally backed multifamily mortgage loan that was current as of February 1, 2020, and is experiencing financial hardship due to COVID-19 may request forbearance on the loan for up to 30 days, with up to two additional 30-day periods at the borrower’s request.

Also in response to the COVID-19 pandemic, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), the Office of the Comptroller of the Currency (“OCC”), and the Consumer Financial Protection Bureau (“CFPB”), in consultation with the state financial regulators (collectively, the “agencies”) issued a joint interagency statement (issued March 22, 2020; revised statement issued April 7, 2020). Some of the provisions applicable to the Company include, but are not limited to:

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Accounting for Loan Modifications - Loan modifications that do not meet the conditions of the CARES Act may still qualify as a modification that does not need to be accounted for as a TDR. The agencies confirmed with FASB staff that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term modifications such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payment. See Note 4 Loans and Leases and the Allowance for Credit Losses for more information.

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Past Due Reporting - With regard to loans not otherwise reportable as past due, financial institutions are not expected to designate loans with deferrals granted due to COVID-19 as past due because of the deferrals. A loan’s payment date is governed by the due date stipulated in the legal agreement. If a financial institution agrees to a payment deferral, these loans would not be considered past due during the period of the deferral.

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Nonaccrual Status and Charge-offs - During short-term COVID-19 modifications, these loans generally should not be reported as nonaccrual or as classified.

The Company began offering short-term loan modifications to assist borrowers during the COVID-19 pandemic. These modifications generally involve principal and/or interest payment deferrals for up to six months. These modifications generally meet the criteria of both Section 4013 of the CARES Act and the joint interagency statement, and therefore, the Company does not account for such loan modifications as TDRs. As the COVID-19 pandemic persists in negatively impacting the economy, the Company continues to offer additional loan modifications to borrowers struggling as a result of COVID-19. Similar to the initial modifications granted, the additional round of loan modifications are granted specifically under Section 4013 of the CARES Act and generally involve principal and/or interest payment deferrals for up to an additional six months for commercial and consumer loans, and principal-only deferrals for up to an additional 12 months for selected commercial loans. On August 3, 2020, the Federal Financial Institutions Examination Council on behalf of its members (collectively “the FFIEC members”) issued a joint statement on additional loan accommodations related to COVID-19. The joint statement clarifies that for loan modifications in which Section 4013 is being applied, subsequent modifications could also be eligible under Section 4013. To be eligible, each loan modification must be (1) related to the COVID-19 event; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (A) 60 days after the date of termination of the National Emergency or (B) December 31, 2020. The December 31, 2020 deadline was subsequently extended to January 1, 2022 by the CAA, 2021, which was signed into law on December 27, 2020. Substantially all of the Company’s additional round of loan modifications granted under Section 4013 of the CARES Act are in compliance with the aforementioned FFIEC requirements. Accordingly, the Company does not account for such loan modifications as TDRs.

In April 2020, the FASB staff issued a Q&A document on accounting for lease concessions related to the effects of the COVID-19 pandemic. The FASB staff noted that entities may elect to not evaluate whether certain concessions provided by lessors to mitigate the effects of COVID-19 on lessees are lease modifications. This option is intended to reduce the operational challenges of individually assessing every COVID-19 related lease concession to determine whether it results in having to apply Topic 842 lease modification guidance. This election is available only for concessions related to the effects of the COVID-19 pandemic that do not result in a substantial increase in either the rights of the lessor or the obligations of the lessee. For entities that choose this election, they may account for the concession as if no changes to the lease contract were made. Under that accounting, a lessor would continue to recognize income. The Company has elected to apply the relief provided by the FASB not to evaluate individual contracts. The Company also elected not to apply the lease modification framework for concessions granted.

The Company, as lessor, granted lease concessions on some of its sales-type finance leases for equipment and automobiles. Equipment lease concessions primarily consists of interest-only payments for a six-month period. Regular lease payments resume after the six-month period and the maturity date is extended by six months. Automobile lease concessions primarily consist of six-month extension programs whereby lease payments currently due are deferred and shifted to the end of the lease term. Interest income continues to accrue during the deferral period. As of December 31, 2020, the Company has not offered a material amount of additional concessions.

The Company, as lessor, leases and subleases real property to lessee tenants under operating leases. As of December 31, 2020, no material lease concessions have been granted to lessees. The Company, as lessee, also leases real estate property for branch locations, ATM locations, and office space. As of December 31, 2020, the Company has not requested any lease concessions.

Cash and Cash Equivalents

Cash and cash equivalents include cash and due from banks, interest-bearing deposits in other banks, and funds sold. All amounts are readily convertible to cash and have maturities of less than 90 days.

Premises and Equipment

Premises and equipment, including leasehold improvements, are stated at cost, less accumulated depreciation and amortization. Capital leases are included in premises and equipment at the capitalized amount less accumulated amortization.

Premises and equipment are depreciated using the straight-line method over the estimated useful lives of the respective assets. Estimated useful lives generally range up to 30 years for buildings and up to 10 years for equipment. Capitalized leased assets and leasehold improvements are amortized over the shorter of the estimated useful life of the asset or the lease term. Repairs and maintenance are charged to expense as incurred, while improvements which extend the estimated useful life of the asset are capitalized and depreciated over the estimated remaining life of the asset.

Premises and equipment are periodically evaluated for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of premises and equipment are less than its carrying amount. In that event, the Company records a loss for the difference between the carrying amount and the fair value of the asset based on quoted market prices, if applicable, or a discounted cash flow analysis.

Foreclosed Real Estate

Foreclosed real estate consists of properties acquired through foreclosure proceedings or acceptance of a deed-in-lieu of foreclosure. These properties are recorded at fair value less estimated costs to sell the property. If the recorded investment in the loan exceeds the property’s fair value at the time of acquisition, a charge-off is recorded against the Allowance. If the fair value of the property at the time of acquisition exceeds the carrying amount of the loan, the excess is recorded either as a recovery to the Allowance if a charge-off had previously been recorded, or as a gain on initial transfer in other noninterest income. Subsequent decreases in the property’s fair value and operating expenses of the property are recognized through charges to other noninterest expense. The fair value of the property acquired is based on third party appraisals, broker price opinions, recent sales activity, or a combination thereof, subject to management judgment.

Mortgage Servicing Rights

Mortgage servicing rights are recognized as assets when mortgage loans are sold and the rights to service those loans are retained. Mortgage servicing rights are initially recorded at fair value by using a discounted cash flow model to calculate the present value of estimated future net servicing income.

The Company’s mortgage servicing rights accounted for under the fair value method are carried on the statements of condition at fair value with changes in fair value recorded in mortgage banking income in the period in which the change occurs. Changes in the fair value of mortgage servicing rights are primarily due to changes in valuation inputs, assumptions, and the collection and realization of expected cash flows.

The Company’s mortgage servicing rights accounted for under the amortization method are initially recorded at fair value. However, these mortgage servicing rights are amortized in proportion to and over the period of estimated net servicing income. An impairment analysis is prepared on a quarterly basis by estimating the fair value of the mortgage servicing rights and comparing that value to the carrying amount. A valuation allowance is established when the carrying amount of these mortgage servicing rights exceeds fair value.

Goodwill

Goodwill is initially recorded as the excess of the purchase price over the fair value of the net assets acquired in a business combination and is subsequently evaluated at least annually for impairment. Goodwill impairment testing is performed at the reporting unit level, equivalent to a business segment or one level below. The Company has goodwill assigned to the following reporting unit: Consumer Banking.

The Company performs its annual evaluation of goodwill impairment in the fourth quarter of each year and on an interim basis if events or changes in circumstances indicate that there may be impairment. The Company performs a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The qualitative factors considered include, but are not limited to, macroeconomic and State of Hawaii economic conditions, industry and market conditions and trends, the Company’s financial performance, market capitalization, stock price, and any Company-specific events relevant to the assessment. If the assessment of qualitative factors indicates that it is not more likely than not that an impairment exists, no further testing is performed; otherwise an impairment test is performed. Prior to 2017, the goodwill impairment test was a two-step test. The first step compared the estimated fair value of identified reporting units with their carrying amount, including goodwill. If the estimated fair value of a reporting unit was less than the carrying value, the second step was required to determine the implied fair value of the reporting unit’s goodwill and the amount of goodwill impairment, if any. In 2017, the Company elected to early adopt ASU No. 2017-04, “Simplifying the Test for Goodwill Impairment.” The guidance removed Step 2 of the goodwill impairment test. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance remained largely unchanged. Subsequent reversals of goodwill impairment are prohibited. For the year ended December 31, 2020, the Company’s goodwill impairment evaluation, based on its qualitative assessment, indicated there was no impairment.

Non-Marketable Equity Securities

The Company is required to own Federal Home Loan Bank (“FHLB”) of Des Moines and Federal Reserve Bank (“FRB”) stock as a condition of membership. These non-marketable equity securities are accounted for at cost which equals par or redemption value. These securities do not have a readily determinable fair value as their ownership is restricted and there is no market for these securities. These securities can only be redeemed or sold at their par value and only to the respective issuing government supported institution or to another member institution. The Company records these non-marketable equity securities as a component of other assets, which are periodically evaluated for impairment. Management considers these non-marketable equity securities to be long-term investments. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than by recognizing temporary declines in value.

Bank-Owned Life Insurance

The Company purchases life insurance policies on the lives of certain officers and employees and is the owner and beneficiary of the policies. The Company invests in these Bank-Owned Life Insurance (“BOLI”) policies to provide an efficient form of funding for long-term retirement and other employee benefits costs. The Company records these BOLI policies in the consolidated statements of condition at cash surrender value, with changes recorded in noninterest income in the consolidated statements of income.

Securities Sold Under Agreements to Repurchase

The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. As a result, securities sold under agreements to repurchase are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as a liability in the Company’s consolidated statements of condition, while the securities underlying the securities sold under agreements to repurchase remain in the respective asset accounts. See Note 19 Balance Sheet Offsetting for more information.

Pension and Postretirement Benefit Plans

The Company incurs certain employment-related expenses associated with its two frozen pension plans and a postretirement benefit plan (the “Plans”). In order to measure the expense associated with the Plans, various assumptions are made including the discount rate, expected return on plan assets, anticipated mortality rates, and expected future healthcare costs. The assumptions are based on historical experience as well as current facts and circumstances. The Company uses a December 31 measurement date for its Plans. As of the measurement date, plan assets are determined based on fair value, generally representing observable market prices. The projected benefit obligation is primarily determined based on the present value of projected benefit distributions at an assumed discount rate.

Net periodic pension benefit costs include interest costs based on an assumed discount rate, the expected return on plan assets based on actuarially derived market-related values, and the amortization of net actuarial gains or losses. Net periodic postretirement benefit costs include service costs, interest costs based on an assumed discount rate, and the amortization of prior service credits and net actuarial gains or losses. Differences between expected and actual results in each year are included in the net actuarial gain or loss amount, which is recognized in other comprehensive income. The net actuarial gain or loss in excess of a 10% corridor is amortized in net periodic benefit cost over the average remaining expected lives of the pension plan participants and over the average remaining future service years of the postretirement benefit plan participants. The prior service credit is amortized over the average remaining service period to full eligibility for participating employees expected to receive benefits.

The Company recognizes in its consolidated statements of condition an asset for a plan’s overfunded status or a liability for a plan’s underfunded status. The Company also measures the Plans’ assets and obligations that determine its funded status as of the end of the year and recognizes those changes in other comprehensive income, net of tax.

Income Taxes

The Parent files a consolidated federal income tax return with the Bank and its subsidiaries. Calculation of the Company’s provision for income taxes requires the interpretation of income tax laws and regulations and the use of estimates and judgments in its determination. The Company is subject to examination by governmental authorities that may give rise to income tax issues due to differing interpretations. Changes to the liability for income taxes also occur due to changes in income tax rates, implementation of new business strategies, resolution of issues with taxing authorities, and newly enacted statutory, judicial, and regulatory guidance.

Deferred income taxes are provided to reflect the tax effect of temporary differences between financial statement carrying amounts and the corresponding tax basis of assets and liabilities. Deferred income taxes are calculated by applying enacted statutory tax rates and tax laws to future years in which temporary differences are expected to reverse. The impact on deferred tax assets and liabilities from a change in tax rates is recognized in income in the period that the tax rate change is enacted. A deferred tax valuation allowance is established if it is more likely than not that a deferred tax asset will not be realized.

The Company’s tax sharing policy provides for the settlement of income taxes between each relevant subsidiary as if the subsidiary had filed a separate return. Payments are made to the Parent by subsidiaries with tax liabilities and subsidiaries that generate tax benefits receive payments for those benefits as used.

The Company maintains reserves for certain tax positions that arise in the normal course of business. As of December 31, 2020, these positions were evaluated based on an assessment of probabilities as to the likelihood of whether a liability had been incurred. Such assessments are reviewed as events occur and adjustments to the reserves are made as appropriate. In evaluating a tax position for recognition, the Company evaluates whether it is more likely than not that a tax position will be sustained upon examination, including resolution of related appeals or litigation processes, based on the technical merits of the position. If the tax position meets the more likely than not recognition threshold, the tax position is measured and recognized in the Company’s Consolidated Financial Statements as the largest amount of tax benefit that, in management’s judgment, is greater than 50% likely of being realized upon ultimate settlement.

Treasury Stock

Shares of the Parent’s common stock that are repurchased are recorded in treasury stock at cost. On the date of subsequent re-issuance, the treasury stock account is reduced by the cost of such stock on a first-in, first-out basis.

Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the period, assuming conversion of all potentially dilutive common stock equivalents.

Derivative Financial Instruments

In the ordinary course of business, the Company enters into derivative financial instruments as an end-user in connection with its risk management activities and to accommodate the needs of its customers. The Company has elected not to qualify for hedge accounting methods addressed under current provisions of GAAP. Derivative financial instruments are stated at fair value on the consolidated statements of condition with changes in fair value reported in current period earnings.

Share-Based Compensation

The Company may grant share-based compensation to employees and non-employee directors in the form of restricted stock, restricted stock units and stock options. The fair value of restricted stock is determined based on the closing price of the Parent’s common stock on the date of grant. The Company recognizes compensation expense related to restricted stock on a straight-line basis over the vesting period for service-based awards, plus additional recognition of costs associated with accelerated vesting based on the projected attainment of Company performance measures. Restricted stock units (“RSUs”) are payable solely in cash which are accounted for as other liabilities in the consolidated statements of condition. The fair value of RSUs is initially valued based on the closing price of the Parent’s common stock on the date of grant and is amortized in the statement of income over the vesting period. The RSUs are subsequently remeasured in the same manner described above at the end of each reporting period until settlement. The fair value of stock options is estimated at the date of grant using the Black-Scholes option pricing model and related assumptions. The Company uses historical data to predict option exercise and employee termination behavior. Expected volatilities are based on the historical volatility of the Parent’s common stock. The expected term of options granted is derived from actual historical exercise activity and represents the period of time that options granted are expected to be outstanding. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant based on the expected life of the option. The dividend yield is equal to the dividend yield of the Parent’s common stock at the time of grant. The amortization of the expense related to stock options reflects estimated forfeitures, adjusted for actual forfeiture experience. Amortization expense related to stock options is recorded in the statements of income as a component of salaries and benefits for employees and as a component of other noninterest expense for non-employee directors, with a corresponding increase to capital surplus in shareholders’ equity. As the expense related to stock options is recognized, a deferred tax asset is established that represents an estimate of future income tax deductions from the release of restrictions or the exercise of stock options.

Advertising Costs

Advertising costs are expensed the first time that advertising takes place. Advertising costs were $8.3 million, $6.1 million, and $6.0 million for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, respectively.

International Operations

The Bank has operations that are conducted in certain Pacific Islands that are denominated in U.S. dollars. These operations are classified as domestic.

Fair Value Measurements

Fair value measurements apply whenever GAAP requires or permits assets or liabilities to be measured at fair value either on a recurring or nonrecurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction between market participants at the measurement date. Fair value is based on the assumptions that management believes market participants would use when pricing an asset or liability. Fair value measurement and disclosure guidance established a three-level fair value hierarchy that prioritizes the use of inputs used in valuation methodologies. Management maximizes the use of observable inputs and minimizes the use of unobservable inputs when determining fair value measurements. Management reviews and updates the fair value hierarchy classifications of the Company’s assets and liabilities on a quarterly basis. The three-level fair value hierarchy is as follows:

Level 1:	Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. A contractually binding sales price also provides reliable evidence of fair value.
Level 2:	Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that utilize model-based techniques for which all significant assumptions are observable in the market.
Level 3:	Inputs to the valuation methodology are unobservable and significant to the fair value measurement; inputs to the valuation methodology that utilize model-based techniques for which significant assumptions are not observable in the market; or inputs to the valuation methodology that requires significant management judgment or estimation, some of which may be internally developed.

In some instances, an instrument may fall into multiple levels of the fair value hierarchy. In such instances, the instrument’s level within the fair value hierarchy is based on the lowest of the three levels (with Level 3 being the lowest) that is significant to the fair value measurement. Our assessment of the significance of an input requires judgment and considers factors specific to the instrument.

See Note 14 Employee Benefits and Note 21 Fair Value of Assets and Liabilities for the required fair value measurement disclosures.

Accounting Standards Adopted in 2020

In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” This ASU significantly changes how entities measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard replaces the “incurred loss” approach with an “expected loss” approach known as current expected credit loss (“CECL”). CECL applies to: (1) financial assets measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held-to-maturity securities, loan commitments, and financial guarantees. The CECL approach does not apply to AFS debt securities. For AFS debt securities with unrealized losses, entities measure credit losses in a similar manner to legacy GAAP except that the credit losses are now recognized as allowances rather than reductions in the amortized cost of the securities. As a result, entities will recognize improvements to estimated credit losses immediately in earnings rather than as interest income over time. ASU No. 2016-13 also changes the accounting for purchased credit-impaired debt securities and loans. ASU 2016-13 expanded or revised the disclosure requirements related to loans and debt securities. In addition, entities are required to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU No. 2016-13 was effective for interim and annual reporting periods beginning after December 15, 2019.

The Company adopted the standard on January 1, 2020, and applied the standard’s provisions as a cumulative-effect adjustment to retained earnings, as of January 1, 2020 (i.e., modified retrospective approach). Upon adoption of the standard, the Company recorded a $5.1 million decrease to the reserve for credit losses, which resulted in a $3.6 million after-tax increase to retained earnings as of January 1, 2020. The tax effect resulted in an increase to deferred tax liabilities. This “Day 1” impact of CECL adoption is summarized below:

(dollars in thousands)	December 31, 2019		CECL Adoption Impact			January 1, 2020
Allowance for Credit Losses:
Commercial	$	73,801	$	(18,789	)	$	55,012
Consumer		36,226		17,052			53,278
Total Allowance for Credit Losses		110,027		(1,737	)		108,290
Reserve for Unfunded Commitments		6,822		(3,335	)		3,487
Total Reserve for Credit Losses	$	116,849	$	(5,072	)	$	111,777
Retained Earnings
Total Pre-tax Impact			$	5,072
Tax Effect				(1,440	)
Increase to Retained Earnings			$	3,632

The Company did not record an allowance for AFS or HTM securities on Day 1 as the investment portfolio consists primarily of debt securities explicitly or implicitly backed by the U.S. Government for which credit risk is deemed minimal. The impact going forward will depend on the composition, characteristics, and credit quality of the loan and securities portfolios as well as the economic conditions at future reporting periods. See Note 3 Investment Securities and Note 4 Loans and Leases and the Allowance for Credit Losses for more information.

In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU No. 2018-13 was effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. As ASU No. 2018-13 only revises disclosure requirements, it did not have a material impact on the Company’s Consolidated Financial Statements.

In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments.” With respect to Topic 326, ASU 2019-04 clarifies the scope of the credit losses standard and addresses issues related to accrued interest receivable balances, recoveries, variable interest rates and prepayments, among other things. The Company made the accounting policy elections not to measure an allowance for credit losses on accrued interest receivable, to write-off accrued interest amounts by reversing interest income, and to present accrued interest receivable separately from the related financial asset on the statements of financial condition. The amendments to Topic 326 were adopted concurrently with ASU 2016-13 on January 1, 2020. The financial statement impact in regards to the amendments to Topic 326 are incorporated within ASU 2016-13 mentioned above. With respect to Topic 825, on recognizing and measuring financial instruments, ASU 2019-04 addresses the scope of the guidance, the requirement for remeasurement under ASC 820 when using the measurement alternative, certain disclosure requirements and which equity securities have to be remeasured at historical exchange rates. The amendments to Topic 825 were effective for interim and annual reporting periods beginning after December 15, 2019, and did not have a material impact on the Company’s Consolidated Financial Statements. The Company elected to early adopt the amendments to Topic 815 in June 2019. See Note 1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, for more information.

In May 2019, the FASB issued ASU No. 2019-05, “Financial Instruments - Credit Losses (Topic 326); Targeted Transition Relief.” This ASU allows entities to irrevocably elect, upon adoption of ASU 2016-13, the fair value option on financial instruments that (1) were previously recorded at amortized cost and (2) are within the scope of ASC 326-20 if the instruments are eligible for the fair value option under ASC 825-10. The fair value option election does not apply to HTM debt securities. Entities are required to make this election on an instrument-by-instrument basis. ASU 2019-05 was adopted concurrently with ASU 2016-13 on January 1, 2020. The Company did not elect the fair value option, and therefore, ASU 2019-05 did not impact the Company’s Consolidated Financial Statements.

In November 2019, the FASB issued ASU No. 2019-11, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses.” This ASU requires entities to include certain expected recoveries of the amortized cost basis previously written off, or expected to be written off, in the allowance for credit losses for purchased credit-deteriorated (“PCD”) financial assets. It also provides transition relief related to TDRs, allows entities to exclude accrued interest amounts from certain required disclosures and clarifies the requirements for applying the collateral maintenance practical expedient. ASU 2019-11 was adopted concurrently with ASU 2016-13 on January 1, 2020, and did not have a material impact to the Company’s Consolidated Financial Statements.

In January 2021, the FASB issued ASU No. 2021-01, “Reference Rate Reform (Topic 848): Scope.” This ASU clarifies that all derivative instruments affected by changes to the interest rates used for discounting, margining or contract price alignment due to reference rate reform are in the scope of ASC 848. Entities may apply certain optional expedients in ASC 848 to derivative instruments that do not reference LIBOR or another rate expected to be discontinued as a result of reference rate reform if there is a change to the interest rate used for discounting, margining or contract price alignment. The ASU also clarifies other aspects of ASC 848 and provides new guidance on how to address the effects of the cash compensation adjustment that is provided as part of the above change on certain aspects of hedge accounting. ASU 2021-01 is intended to reduce diversity in practice related to accounting for (1) modifications to the terms of affected derivatives and (2) existing hedging relationships in which the affected derivatives are designated as hedging instruments. ASU 2021-01 is effective upon issuance and generally can be applied through December 31, 2022, similar to the rest of the relief provided under ASC 848. Entities may elect to apply the guidance on contract modifications either (1) retrospectively as of any date from the beginning of any interim period that includes March 12, 2020 or (2) prospectively to new modifications from any date in an interim period that includes or is after January 7, 2021, up to the date that financial statements are available to be issued. The Company elected to adopt the guidance on contract modifications retrospectively as of October 1, 2020, and it did not have a material impact on the Company’s Consolidated Financial Statements. Entities may elect to apply the guidance on hedge accounting to eligible hedging relationships that existed as of the beginning of an interim period that includes March 12, 2020 and to those entered into after the beginning of the interim period that includes that date. As the Company currently does not utilize hedge accounting, the guidance on hedge accounting is currently not applicable.

Borrowings

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Borrowings

Note 9. Borrowings

Details of the Company’s short-term borrowings (original term of one year or less) as of December 31, 2020, and December 31, 2019 were as follows:

	December 31,
(dollars in thousands)	2020			2019
Securities Sold Under Agreements to Repurchase (short-term)¹
Amounts Outstanding	$	100		$	2,200
Weighted-Average Interest Rate		1.20	%		1.87	%

Consists entirely of repurchase agreements with government entities. Excludes long-term repurchase agreements with government entities of $0.5 million and $2.1 million as of December 31, 2020, and December 31, 2019, respectively, and long-term repurchase agreements with private institutions of $600.0 million as of December 31, 2020, and December 31, 2019.

The Company’s total securities sold under agreements to repurchase were $600.6 million and $604.3 million as of December 31, 2020, and December 31, 2019, respectively. As of December 31, 2020, all of our repurchase agreements were at fixed interest rates.

As of December 31, 2020, long-term repurchase agreements (original term over one year) placed with government entities were $0.5 million with a weighted-average interest rate of 1.55% and a weighted-average maturity of 3.9 years.

As of December 31, 2020, long-term repurchase agreements placed with private institutions were $600.0 million with a weighted-average interest rate of 2.39%. Remaining terms ranged from 2022 to 2026 with a weighted-average maturity of 4.0 years. Some of our repurchase agreements with private institutions may be terminated at earlier specified dates by the private institution or in some cases by either the private institution or the Company. If all such agreements were to terminate at the earliest possible date, the weighted-average maturity for our repurchase agreements with private institutions would decrease to 3.5 years.

Leases - Future Minimum Payments for Finance Leases and Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finance Leases
2021	$ 825
2022	825
2023	825
2024	825
2025	825
Thereafter	22,280
Total Future Minimum Lease Payments	26,405
Amounts Representing Interest	(15,924)
Finance lease liabilities	10,481	$ 10,565
Operating Leases
2021	11,124
2022	10,627
2023	9,904
2024	9,190
2025	8,843
Thereafter	100,371
Total Future Minimum Lease Payments	150,059
Amounts Representing Interest	(42,647)
Operating Lease Liabilities	$ 107,412	$ 108,210

Affordable Housing Projects Tax Credit Partnerships

12 Months Ended

Dec. 31, 2020

Equity Method Investments And Joint Ventures [Abstract]

Affordable Housing Projects Tax Credit Partnerships

Note 18. Affordable Housing Projects Tax Credit Partnerships

The Company makes equity investments in various limited partnerships or limited liability companies that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (“LIHTC”) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of these entities include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity.

The Company is a limited partner or non-managing member in each LIHTC limited partnership or limited liability company, respectively. Each of these entities is managed by an unrelated third-party general partner or managing member who exercises significant control over the affairs of the entity. The general partner or managing member has all the rights, powers and authority granted or permitted to be granted to a general partner of a limited partnership or managing member of a limited liability company. Duties entrusted to the general partner or managing member include, but are not limited to: investment in operating companies, company expenditures, investment of excess funds, borrowing funds, employment of agents, disposition of fund property, prepayment and refinancing of liabilities, votes and consents, contract authority, disbursement of funds, accounting methods, tax elections, bank accounts, insurance, litigation, cash reserve, and use of working capital reserve funds. Except for limited rights granted to the limited partner(s) or non-managing member(s) relating to the approval of certain transactions, the limited partner(s) and non-managing members may not participate in the operation, management, or control of the entity’s business, transact any business in the entity’s name or have any power to sign documents for or otherwise bind the entity. In addition, the general partner or managing member may only be removed by the limited partner(s) or managing member(s) in the event of a failure to comply with the terms of the agreement or negligence in performing its duties.

The general partner or managing member of each entity has both the power to direct the activities which most significantly affect the performance of each entity and the obligation to absorb losses or the right to receive benefits that could be significant to the entities. Therefore, the Company has determined that it is not the primary beneficiary of any LIHTC entity. The Company uses the effective yield method to account for its pre-2015 investments in these entities. Beginning January 1, 2015, any new investments that meet the requirements of the proportional amortization method are recognized using the proportional amortization method. The Company’s net affordable housing tax credit investments and related unfunded commitments were $138.9 million and $76.3 million as of December 31, 2020, and December 31, 2019, respectively, and are included in other assets in the consolidated statements of condition.

Unfunded Commitments

As of December 31, 2020, the expected payments for unfunded affordable housing commitments were as follows:

(dollars in thousands)	Amount
2021	$	21,698
2022		6,571
2023		15,588
2024		171
2025		54
Thereafter		8,877
Total Unfunded Commitments	$	52,959

(dollars in thousands)	2020		2019		2018
Effective Yield Method
Tax credits and other tax benefits recognized	$	11,752	$	11,719	$	13,572
Amortization Expense in Provision for Income Taxes		8,586		7,566		8,311

Proportional Amortization Method
Tax credits and other tax benefits recognized	$	6,633	$	3,014	$	1,641
Amortization Expense in Provision for Income Taxes		5,729		2,578		1,332

There were no impairment losses related to LIHTC investments for the years ended December 31, 2020, December 31, 2019, and December 31, 2018. During the first quarter of 2018, the Company recorded a $2.0 million adjustment to increase its LIHTC investments. This adjustment resulted in a decrease to provision for income tax.

Balance Sheet Offsetting - Schedule of Assets and Liabilities Subject to an Enforceable Master Netting Arrangement or Repurchase Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Liabilities:
Repurchase Agreements, Gross Amounts of Recognized Liabilities	$ 600,590	$ 604,306
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition	0	0
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition	600,590	604,306
Securities Sold under Agreements to Repurchase, Net Amount Offset Against Collateral	0	0
Repurchase Agreements, Fair Value of Collateral Pledged	600,590	604,306
Private Institutions
Liabilities:
Repurchase Agreements, Gross Amounts of Recognized Liabilities	600,000	600,000
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition	0	0
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition	600,000	600,000
Securities Sold under Agreements to Repurchase, Net Amount Offset Against Collateral	0	0
Repurchase Agreements, Fair Value of Collateral Pledged	600,000	600,000
Government Entities
Liabilities:
Repurchase Agreements, Gross Amounts of Recognized Liabilities	590	4,306
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition	0	0
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition	590	4,306
Securities Sold under Agreements to Repurchase, Net Amount Offset Against Collateral	0	0
Repurchase Agreements, Fair Value of Collateral Pledged	590	4,306
Interest Rate Swap Agreements \| Institutional Counterparties
Assets:
Gross Amounts of Recognized Assets	5	584
Gross Amounts Offset in the Statements of Condition	0	0
Net Amounts of Assets Presented in the Statements of Condition	5	584
Netting Adjustments per Master Netting Arrangements	5	584
Gross Amounts Not Offset in the Statements of Condition - FV of collateral pledged	0	0
Derivative Assets, Net Amount	0	0
Liabilities:
Gross Amounts of Recognized Liabilities	17,202	5,361
Gross Amounts Offset in the Statements of Condition	0	0
Net Amounts of Liabilities Presented in the Statements of Condition	17,202	5,361
Derivative Liability, Netting Adjustments per Master Netting Arrangements	5	584
Derivative, Collateral, Right to Reclaim Securities	7,911	3,818
Derivative Liabilities, Net Amount	$ 9,286	$ 959

Deposits

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Deposits

Note 8. Deposits

Time Deposits

As of December 31, 2020, and December 31, 2019, the Company’s total time deposits were $1.7 billion and $1.8 billion, respectively. As of December 31, 2020, the contractual maturities of these time deposits were as follows:

(dollars in thousands)	Amount
2021	$	1,488,523
2022		98,656
2023		49,947
2024		11,006
2025		7,203
Thereafter		6,728
Total	$	1,662,063

The amount of time deposits with balances of $100,000 or more was $1.4 billion as of December 31, 2020, and 1.5 billion as of December 31, 2019. As of December 31, 2020, the contractual maturities of these time deposits were as follows:

(dollars in thousands)	Amount
Three Months or Less	$	527,079
Over Three Months through Six Months		207,675
Over Six Months through Twelve Months		574,479
Over Twelve Months		79,149
Total	$	1,388,382

Public Deposits

As of December 31, 2020, and December 31, 2019, deposits of governmental entities of $1.5 billion and $1.2 billion, respectively, required collateralization by acceptable investment securities of the Company.

Bank of Hawaii Corporation Financial Statements - Schedule of Condensed Statements of Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Investment Securities Held-to-Maturity	$ 3,262,727	$ 3,042,294	$ 3,482,092
Goodwill	31,517	31,517
Other Assets	435,293	272,674
Total Assets	20,603,651	18,095,496	17,143,974
Liabilities
Other Liabilities	190,263	157,472
Total Liabilities	19,229,144	16,808,664
Shareholders’ Equity	1,374,507	1,286,832	$ 1,268,200	$ 1,231,868
Total Liabilities and Shareholders’ Equity	20,603,651	18,095,496
Parent Company
Assets
Cash with Bank of Hawaii	66,704	37,056
Investment Securities Held-to-Maturity	2,501	4,974
Goodwill	14,129	14,129
Other Assets	12,305	12,401
Equity in Net Assets of Subsidiaries	1,290,455	1,229,775
Total Assets	1,386,094	1,298,335
Liabilities
Income Taxes Payable	974	58
Other Liabilities	10,613	11,445
Total Liabilities	11,587	11,503
Shareholders’ Equity	1,374,507	1,286,832
Total Liabilities and Shareholders’ Equity	$ 1,386,094	$ 1,298,335

Employee Benefits

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Employee Benefits

Note 14. Employee Benefits

The Company has defined contribution plans, defined benefit plans, and a postretirement benefit plan.

Defined Contribution Plans

The Bank of Hawaii Retirement Savings Plan (the “Savings Plan”) has three Company contribution components in addition to employee contributions: 1) 401(k) matching, as described below; 2) a 3% fixed amount based on eligible compensation; and 3) a discretionary value-sharing contribution.

Under the 401(k) matching component, participating employees may contribute up to 50% of their eligible compensation (within federal limits) to the Savings Plan. The Company makes matching contributions on behalf of participants equal to $1.25 for each $1.00 contributed by participants, up to 2% of the participants’ eligible compensation, and $0.50 for every $1.00 contributed by participants over 2%, up to 5% of the participants’ eligible compensation. A 3% fixed contribution and a discretionary value-sharing contribution, that is linked to the Company’s financial goals, are made regardless of whether the participating employee contributes to the Savings Plan and are invested in accordance with the participant’s selection of investment options available under the Savings Plan. The Company also has a non-qualified savings plan which covers certain employees with compensation exceeding Internal Revenue Service (“IRS”) limits on pay amounts in the allocation of the Savings Plan’s benefits. Total expense for all components of the Company’s defined contribution plans was $14.0 million, $15.2 million, and $14.5 million for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, respectively.

Defined Benefit Plans

The Company has two defined benefit plans (the “Pension Plans”). In 1995, the Company froze its non-contributory, qualified defined benefit retirement plan (the “Retirement Plan”) and the excess retirement plan (the “Excess Plan”), which covered employees of the Company and participating subsidiaries who met certain eligibility requirements. Beginning January 1, 2001, the Pension Plans no longer provided for compensation increases in the determination of benefits. The projected benefit obligation is equal to the accumulated benefit obligation due to the frozen status of the Pension Plans.

The assets of the Retirement Plan primarily consist of equity and fixed income mutual funds.

The Excess Plan is a non-qualified excess retirement benefit plan which covers certain employees of the Company and participating subsidiaries with compensation exceeding IRS limits on pay amounts applicable to the Pension Plan’s benefit formula. The Excess Plan has no plan assets. The Excess Plan’s projected benefit obligation and accumulated benefit obligation were $3.6 million for December 31, 2020, and December 31, 2019.

Postretirement Benefit Plan

The Company’s postretirement benefit plan provides retirees hired before January 1, 2012, with medical and dental insurance coverage. For eligible participants that retired before 2008 and met certain age requirements, the Company and retiree share in the cost of providing postretirement benefits where both the employer and retiree pay a portion of the insurance premiums. Eligible participants who retired before 2008 who did not meet certain age requirements continued on the Company’s benefit plans, but pay for their full insurance premiums. Participants who retired on or after January 1, 2008, who had medical or dental coverage under the Company’s plans immediately before retirement and meet certain age and years of service requirements as of December 31, 2008, are also eligible to participate in the Company’s benefit plans, but must pay for their full insurance premiums. Retirees age 65 and older are provided with a Medicare supplemental plan subsidy. Most employees of the Company who have met certain eligibility requirements are covered by this plan. Participants who retired on or after January 1, 2008, who met certain age and/or years of service requirements, are eligible for the Health Reimbursement Account (“HRA”) program. The HRA program provides retirees with an initial credit based on years of service. Thereafter, an annual credit up to a maximum of $1,200 is provided into the HRA. The retiree may use the HRA for medical, vision, prescription drug and dental premiums, co-payments, and medically necessary health care expenses that are not covered by any medical or dental insurance program or flexible health spending account. The plan was amended to provide access-only coverage for employees hired on or after January 1, 2012, and lowered eligibility for access from age 55 to age 50. These retirees continue on the medical and dental plan until age 65 paying the full premium. As of December 31, 2020, and December 31, 2019, the Company had no segregated assets to provide for postretirement benefits.

	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2020			2019			2020			2019
Benefit Obligation at Beginning of Year	$	110,637		$	102,662		$	27,571		$	23,452
Service Cost		—			—			578			455
Interest Cost		3,627			4,401			945			1,025
Actuarial Losses (Gains)		10,364			10,359			3,559			4,095
Employer Benefits Paid ¹		(6,981	)		(6,785	)		(1,146	)		(1,456	)
Benefit Obligation at End of Year	$	117,647		$	110,637		$	31,507		$	27,571
Fair Value of Plan Assets at Beginning of Year	$	93,638		$	85,553		$	—		$	—
Actual Return on Plan Assets		10,764			14,400			—			—
Employer Contributions		469			470			1,146			1,456
Employer Benefits Paid ¹		(6,981	)		(6,785	)		(1,146	)		(1,456	)
Fair Value of Plan Assets at End of Year	$	97,890		$	93,638		$	—		$	—
Funded Status at End of Year ²	$	(19,757	)	$	(16,999	)	$	(31,507	)	$	(27,571	)

²	^{Amounts are recognized in Retirement Benefits Payable in the consolidated statements of condition.}

The changes in actuarial losses (gains) related to the Company’s Pension and postretirement benefit Plans are mainly due to changes in discount rates for the years ended December 31, 2020, and December 31, 2019. For the year ended December 31, 2020, the change in discount rate resulted in a $9.3 million increase to the Company’s Pension Plans liability and a $2.9 million increase to the Company’s postretirement benefit plan liability. For the year ended December 31, 2019, the change in discount rate resulted in a $10.8 million increase to the Company’s Pension Plans liability and a $3.4 million increase to the Company’s postretirement benefit plan liability.

	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2020			2019			2020			2019
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax
Net Actuarial Gains (Losses)	$	(43,101	)	$	(41,404	)	$	(1,613	)	$	1,003
Net Prior Service Credit		—			—			1,464			1,645
Total Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax	$	(43,101	)	$	(41,404	)	$	(149	)	$	2,648

	Pension Benefits									Postretirement Benefits
(dollars in thousands)	2020			2019			2018			2020			2019			2018
Service Cost	$	—		$	—		$	—		$	578		$	455		$	457
Interest Cost		3,627			4,401			4,193			945			1,025			936
Expected Return on Plan Assets		(5,028	)		(4,993	)		(5,122	)		—			—			—
Amortization of:
Prior Service Credit ¹		—			—			—			(246	)		(288	)		(567	)
Net Actuarial Losses (Gains) ¹		2,318			1,937			2,099			—			(339	)		(264	)
Net Periodic Benefit Cost	$	917		$	1,345		$	1,170		$	1,277		$	853		$	562

¹	^{Represents reclassification adjustments from accumulated other comprehensive income during the period.}

Assumptions used to determine the benefit obligations as of December 31, 2020, and December 31, 2019, for the Company’s Pension Plans and postretirement benefit plan were as follows:

	Pension Benefits						Postretirement Benefits
	2020			2019			2020			2019
Weighted Average Assumptions as of December 31:
Discount Rate		2.55	%		3.36	%		2.66	%		3.42	%
Health Care Cost Trend Rate Assumed For Next Year		—			—			5.50	%		5.70	%

The health care cost trend rate is assumed to decrease annually, until reaching the ultimate trend rate of 4.5% in 2036.

	Pension Benefits									Postretirement Benefits
	2020			2019			2018			2020			2019			2018
Weighted Average Assumptions as of December 31:
Discount Rate		3.36	%		4.41	%		3.90	%		3.42	%		4.48	%		3.96	%
Expected Long-Term Rate of Return on Plan Assets		5.75	%		5.75	%		5.75	%		—			—			—
Health Care Cost Trend Rate		—			—			—			5.70	%		6.00	%		6.30	%

A combination of factors is used by management in determining the expected long-term rate of return on plan assets. Historical return experience for major asset categories are evaluated and current market factors, such as inflation and interest rates, are considered in determining the expected long-term rate of return assumption.

The Company expects to contribute $0.4 million to the Pension Plans and $1.2 million to the postretirement benefit plan for the year ending December 31, 2021.

As of December 31, 2020, expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter were as follows:

(dollars in thousands)	Pension Benefits		Postretirement Benefits
2021	$	7,305	$	1,196
2022		7,327		1,235
2023		7,314		1,321
2024		7,314		1,388
2025		7,287		1,511
Years 2026-2030		34,860		9,324

Retirement Plan Assets

The Company’s overall investment strategy is to maintain the purchasing power of the current assets and all future contributions by producing positive rates of return on plan assets; achieve capital growth towards the attainment of full funding of the Retirement Plan’s termination liability; maximize returns within reasonable and prudent levels of risk; and control costs of administering the plan and managing the investments. The long-term investment objective is to achieve an overall annualized total return, gross of fees, above the blended benchmark index comprised of 36% MSCI USA IMI Index, 24% MSCI ACWI ex-US Index, and 40% Barclays Aggregate Bond Index.

Subject to liquidity requirements, the asset allocation targets are 60% for equity securities, 40% for fixed income securities with a 10% to 20% range permitted from the strategic targets, and zero to 20% for cash. Within the equity securities portfolio, the range for domestic securities is from 50% to 100% and the range for international securities is from 0% to 50%. All assets selected for the Retirement Plan must have a readily ascertainable market value and must be readily marketable.

Due to market fluctuations or cash flows, the allocation for each asset class may be breached by as much as 5% on a temporary basis. However, asset allocations are expected to conform to target ranges within 90 days of such an occurrence.

The fair values of the Retirement Plan assets as of December 31, 2020, and December 31, 2019, by asset category were as follows:

	Fair Value Measurements
Asset Category (dollars in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total as of Dec. 31, 2020		Total as of Dec. 31, 2019
Cash	$	1,079	$	—	$	—	$	1,079	$	1,269
Equity Securities – Mutual Funds:
Large-Cap		1,849		—		—		1,849		1,731
Mixed-Cap		29,802		—		—		29,802		29,336
International		28,055		—		—		28,055		23,961
Emerging Market		2,494		—		—		2,494		2,342
Fixed Income Securities – Mutual Funds		34,611		—		—		34,611		34,999
Total	$	97,890	$	—	$	—	$	97,890	$	93,638

Quoted prices for these investments were available in active markets, and therefore were classified as Level 1 measurements in the fair value hierarchy.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

Consolidated Statements of Condition - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Interest-Bearing Deposits in Other Banks	$ 1,646	$ 4,979
Funds Sold	333,022	254,574
Investment Securities
Available-for-Sale	3,791,689	2,619,003
Held-to-Maturity (Fair Value of $3,348,693 and $3,062,882)	3,262,727	3,042,294
Loans Held for Sale	82,565	39,062
Loans and Leases	11,940,020	10,990,892
Allowance for Credit Losses	(216,252)	(110,027)
Net Loans and Leases	11,723,768	10,880,865
Total Earning Assets	19,195,417	16,840,777
Cash and Due From Banks	279,420	299,105
Premises and Equipment, Net	199,695	188,388
Operating Lease Right-of-Use Assets	99,542	100,838
Accrued Interest Receivable	49,303	46,476
Foreclosed Real Estate	2,332	2,737
Mortgage Servicing Rights	19,652	25,022
Goodwill	31,517	31,517
Bank-Owned Life Insurance	291,480	287,962
Other Assets	435,293	272,674
Total Assets	20,603,651	18,095,496
Deposits
Noninterest-Bearing Demand	5,749,612	4,489,525
Interest-Bearing Demand	4,040,733	3,127,205
Savings	6,759,213	6,365,321
Time	1,662,063	1,802,431
Total Deposits	18,211,621	15,784,482
Securities Sold Under Agreements to Repurchase	600,590	604,306
Other Debt	60,481	85,565
Operating Lease Liabilities	107,412	108,210
Retirement Benefits Payable	51,197	44,504
Accrued Interest Payable	5,117	8,040
Taxes Payable and Deferred Taxes	2,463	16,085
Other Liabilities	190,263	157,472
Total Liabilities	19,229,144	16,808,664
Commitments, Contingencies, and Guarantees (Note 20 and Note 23)
Shareholders’ Equity
Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: December 31, 2020 - 58,285,624 / 40,119,312 and December 31, 2019 - 58,166,910 / 40,039,695)	580	579
Capital Surplus	591,360	582,566
Accumulated Other Comprehensive Income (Loss)	7,822	(31,112)
Retained Earnings	1,811,979	1,761,415
Treasury Stock, at Cost (Shares: December 31, 2020 - 18,166,312 and December 31, 2019 - 18,127,215)	(1,037,234)	(1,026,616)
Total Shareholders’ Equity	1,374,507	1,286,832
Total Liabilities and Shareholders’ Equity	$ 20,603,651	$ 18,095,496

Bank of Hawaii Corporation Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Statements of Income

Condensed Statements of Comprehensive Income

	Year Ended December 31,
(dollars in thousands)	2020			2019			2018
Income
Dividends from Bank of Hawaii	$	134,000		$	220,000		$	185,000
Investment Securities Gains (Losses), Net		13,336			(850	)		(819	)
Other Income		154			261			198
Total Income		147,490			219,411			184,379
Noninterest Expense
Intercompany Salaries and Services		758			768			734
Other Expenses		1,864			1,682			1,701
Total Noninterest Expense		2,622			2,450			2,435
Income Before Income Tax Benefit and Equity in Undistributed Income of Subsidiaries		144,868			216,961			181,944
Income Tax Benefit (Expense)		(2,395	)		1,818			2,229
Equity in Undistributed Income of Subsidiaries		11,331			7,134			35,429
Net Income	$	153,804		$	225,913		$	219,602
Comprehensive Income	$	192,738		$	245,844		$	210,751

Schedule of Condensed Statements of Condition

Condensed Statements of Condition

(dollars in thousands)	December 31, 2020		December 31, 2019
Assets
Cash with Bank of Hawaii	$	66,704	$	37,056
Investment Securities Held-to-Maturity		2,501		4,974
Goodwill		14,129		14,129
Other Assets		12,305		12,401
Equity in Net Assets of Subsidiaries		1,290,455		1,229,775
Total Assets	$	1,386,094	$	1,298,335

Liabilities
Income Taxes Payable	$	974	$	58
Other Liabilities		10,613		11,445
Total Liabilities		11,587		11,503
Shareholders' Equity		1,374,507		1,286,832
Total Liabilities and Shareholders' Equity	$	1,386,094	$	1,298,335

Schedule of Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

	Year Ended December 31,
(dollars in thousands)	2020			2019			2018
Operating Activities
Net Income	$	153,804		$	225,913		$	219,602
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Share-Based Compensation		795			760			630
Net (Gains) Losses on Sales of Investment Securities		(13,336	)		850			819
Equity in Undistributed Income of Subsidiaries		(11,331	)		(7,134	)		(35,429	)
Net Change in Other Assets and Other Liabilities		(68	)		(135	)		870
Net Cash Provided by Operating Activities		129,864			220,254			186,492

Investing Activities
Proceeds from (Expenses related to) Sales of Investment Securities		18,336			4,259			(819	)
Purchase of Investment Securities Held-to-Maturity		(2,501	)		(4,933	)		—
Net Cash Provided by (Used in) Investing Activities		15,835			(674	)		(819	)

Financing Activities
Proceeds from Issuance of Common Stock		9,389			7,872			7,873
Repurchase of Common Stock		(18,006	)		(137,649	)		(91,988	)
Cash Dividends Paid		(107,434	)		(105,478	)		(98,496	)
Net Cash Used in Financing Activities		(116,051	)		(235,255	)		(182,611	)

Net Change in Cash and Cash Equivalents		29,648			(15,675	)		3,062
Cash and Cash Equivalents at Beginning of Period		37,056			52,731			49,669
Cash and Cash Equivalents at End of Period	$	66,704		$	37,056		$	52,731

Share-Based Compensation - Schedule of Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation Expense	$ 7,578	$ 8,338	$ 8,146
Income Tax Benefit	$ 2,009	$ 2,210	$ 2,160

Loans and Leases and the Allowance for Credit Losses - Schedule of Aging Analysis by Class of Loan and Lease Portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	$ 16,149	$ 17,380
Total Past Due and Non- Accrual	52,619	82,527
Current	11,887,401	10,908,365
Total Loans and Leases	11,940,020	10,990,892
Non- Accrual Loans and Leases that are Current	8,355	11,506
Commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	8,968	10,074
Total Past Due and Non- Accrual	9,218	26,626
Current	5,091,468	4,187,201
Total Loans and Leases	5,100,686	4,213,827
Non- Accrual Loans and Leases that are Current	5,268	9,665
Commercial \| Commercial and Industrial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	441	830
Total Past Due and Non- Accrual	691	13,512
Current	1,874,602	1,365,640
Total Loans and Leases	1,875,293	1,379,152
Non- Accrual Loans and Leases that are Current	285	421
Commercial \| Commercial Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	8,527	9,244
Total Past Due and Non- Accrual	8,527	12,242
Current	2,846,302	2,505,809
Total Loans and Leases	2,854,829	2,518,051
Non- Accrual Loans and Leases that are Current	4,983	9,244
Commercial \| Construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	0	0
Total Past Due and Non- Accrual	0	152
Current	259,798	194,018
Total Loans and Leases	259,798	194,170
Non- Accrual Loans and Leases that are Current	0	0
Commercial \| Lease Financing
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	0	0
Total Past Due and Non- Accrual	0	720
Current	110,766	121,734
Total Loans and Leases	110,766	122,454
Non- Accrual Loans and Leases that are Current	0	0
Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	7,181	7,306
Total Past Due and Non- Accrual	43,401	55,901
Current	6,795,933	6,721,164
Total Loans and Leases	6,839,334	6,777,065
Non- Accrual Loans and Leases that are Current	3,087	1,841
Consumer \| Other
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	0	0
Total Past Due and Non- Accrual	5,328	7,065
Current	390,155	482,541
Total Loans and Leases	395,483	489,606
Non- Accrual Loans and Leases that are Current	0	0
Consumer \| Residential Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	3,223	4,125
Total Past Due and Non- Accrual	14,629	14,131
Current	4,115,884	3,876,969
Total Loans and Leases	4,130,513	3,891,100
Non- Accrual Loans and Leases that are Current	2,100	1,429
Consumer \| Home Equity
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	3,958	3,181
Total Past Due and Non- Accrual	13,946	13,535
Current	1,590,592	1,662,538
Total Loans and Leases	1,604,538	1,676,073
Non- Accrual Loans and Leases that are Current	987	412
Consumer \| Automobile
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non- Accrual	0	0
Total Past Due and Non- Accrual	9,498	21,170
Current	699,302	699,116
Total Loans and Leases	708,800	720,286
Non- Accrual Loans and Leases that are Current	0	0
30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	16,577	45,964
30 - 59 Days Past Due \| Commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	191	16,353
30 - 59 Days Past Due \| Commercial \| Commercial and Industrial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	191	12,534
30 - 59 Days Past Due \| Commercial \| Commercial Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	2,998
30 - 59 Days Past Due \| Commercial \| Construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	101
30 - 59 Days Past Due \| Commercial \| Lease Financing
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	720
30 - 59 Days Past Due \| Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	16,386	29,611
30 - 59 Days Past Due \| Consumer \| Other
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	2,556	3,498
30 - 59 Days Past Due \| Consumer \| Residential Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	4,049	6,097
30 - 59 Days Past Due \| Consumer \| Home Equity
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	3,423	3,949
30 - 59 Days Past Due \| Consumer \| Automobile
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	6,358	16,067
60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	9,347	10,777
60 - 89 Days Past Due \| Commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	59	199
60 - 89 Days Past Due \| Commercial \| Commercial and Industrial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	59	148
60 - 89 Days Past Due \| Commercial \| Commercial Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
60 - 89 Days Past Due \| Commercial \| Construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	51
60 - 89 Days Past Due \| Commercial \| Lease Financing
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
60 - 89 Days Past Due \| Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	9,288	10,578
60 - 89 Days Past Due \| Consumer \| Other
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	1,612	2,074
60 - 89 Days Past Due \| Consumer \| Residential Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	2,083	2,070
60 - 89 Days Past Due \| Consumer \| Home Equity
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	3,378	2,280
60 - 89 Days Past Due \| Consumer \| Automobile
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	2,215	4,154
Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	10,546	8,406
Past Due 90 Days or More \| Commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Past Due 90 Days or More \| Commercial \| Commercial and Industrial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Past Due 90 Days or More \| Commercial \| Commercial Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Past Due 90 Days or More \| Commercial \| Construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Past Due 90 Days or More \| Commercial \| Lease Financing
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Past Due 90 Days or More \| Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	10,546	8,406
Past Due 90 Days or More \| Consumer \| Other
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	1,160	1,493
Past Due 90 Days or More \| Consumer \| Residential Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	5,274	1,839
Past Due 90 Days or More \| Consumer \| Home Equity
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	3,187	4,125
Past Due 90 Days or More \| Consumer \| Automobile
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	$ 925	$ 949

Balance Sheet Offsetting - Remaining Contractual Maturities of Repurchase Agreements by Class of Collateral Pledged (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	$ 600,590	$ 604,306
Debt Securities Issued by States and Political Subdivisions
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	590	2,790
Residential - Government Agencies
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	103,809	115,734
Residential - U.S. Government-Sponsored Enterprises
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	496,191	248,544
Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		237,238
Maturity Up To 90 Days
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	100	1,200
Maturity Up To 90 Days \| Debt Securities Issued by States and Political Subdivisions
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	100	1,200
Maturity 91 To 365 Days
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		2,616
Maturity 91 To 365 Days \| Debt Securities Issued by States and Political Subdivisions
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		1,100
Maturity 91 To 365 Days \| Residential - Government Agencies
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		1,516
Maturity 1 To 3 Years
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	575,000	225,000
Maturity 1 To 3 Years \| Residential - Government Agencies
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	83,599	25,827
Maturity 1 To 3 Years \| Residential - U.S. Government-Sponsored Enterprises
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	491,401
Maturity 1 To 3 Years \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		199,173
Maturity After 3 Years
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	25,490	375,490
Maturity After 3 Years \| Debt Securities Issued by States and Political Subdivisions
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	490	490
Maturity After 3 Years \| Residential - Government Agencies
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	20,210	88,391
Maturity After 3 Years \| Residential - U.S. Government-Sponsored Enterprises
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	$ 4,790	248,544
Maturity After 3 Years \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		$ 38,065

Loans and Leases and the Allowance for Credit Losses - Schedule of Loan and Lease Portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Loan and lease portfolio
Loans and Leases	$ 11,940,020	$ 10,990,892
Commercial
Loan and lease portfolio
Loans and Leases	5,100,686	4,213,827
Commercial \| Commercial and Industrial
Loan and lease portfolio
Loans and Leases	1,875,293	1,379,152
Commercial \| Commercial Mortgage
Loan and lease portfolio
Loans and Leases	2,854,829	2,518,051
Commercial \| Construction
Loan and lease portfolio
Loans and Leases	259,798	194,170
Commercial \| Lease Financing
Loan and lease portfolio
Loans and Leases	110,766	122,454
Consumer
Loan and lease portfolio
Loans and Leases	6,839,334	6,777,065
Consumer \| Other
Loan and lease portfolio
Loans and Leases	395,483	489,606
Consumer \| Residential Mortgage
Loan and lease portfolio
Loans and Leases	4,130,513	3,891,100
Consumer \| Home Equity
Loan and lease portfolio
Loans and Leases	1,604,538	1,676,073
Consumer \| Automobile
Loan and lease portfolio
Loans and Leases	$ 708,800	$ 720,286

Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders Equity Note [Abstract]

Shareholders' Equity

Note 11. Shareholders’ Equity

Regulatory Capital

(dollars in thousands)	Well Capitalized Minimum Ratio			Company			Bank
As of December 31, 2020
Shareholders’ Equity				$	1,374,507		$	1,290,455
Common Equity Tier 1 Capital					1,361,915			1,289,435
Tier 1 Capital					1,361,915			1,289,435
Total Capital					1,503,784			1,431,106
Common Equity Tier 1 Capital Ratio		6.5	%		12.06	%		11.43	%
Tier 1 Capital Ratio		8.0	%		12.06	%		11.43	%
Total Capital Ratio		10.0	%		13.31	%		12.69	%
Tier 1 Leverage Ratio		5.0	%		6.71	%		6.35	%

As of December 31, 2019
Shareholders’ Equity				$	1,286,832		$	1,229,775
Common Equity Tier 1 Capital					1,289,424			1,243,939
Tier 1 Capital					1,289,424			1,243,939
Total Capital					1,406,273			1,360,788
Common Equity Tier 1 Capital Ratio		6.5	%		12.18	%		11.76	%
Tier 1 Capital Ratio		8.0	%		12.18	%		11.76	%
Total Capital Ratio		10.0	%		13.28	%		12.87	%
Tier 1 Leverage Ratio		5.0	%		7.25	%		7.01	%

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by regulators about the components of regulatory capital, risk weightings, and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of Common Equity Tier 1, Tier 1 and Total Capital. Both Common Equity Tier 1 Capital and Tier 1 Capital are common shareholders’ equity, reduced by certain intangible assets, postretirement benefit liability adjustments, and unrealized gains and losses on investment securities. Total Capital is Tier 1 Capital plus an allowable amount of the reserve for credit losses. Risk-weighted assets are calculated by taking assets and credit equivalent amounts of off-balance-sheet items and assigning them to one of several broad risk categories. Four capital ratios are used to measure capital adequacy: Common Equity Tier 1 Capital divided by risk-weighted assets, as defined; Tier 1 Capital divided by risk-weighted assets; Total Capital divided by risk-weighted assets; and the Tier 1 Leverage ratio, which is Tier 1 Capital divided by quarterly adjusted average total assets.

In addition to the minimum risk-based capital requirements, all banks must hold additional capital, referred to as the capital conservation buffer (which is in the form of common equity) under the U.S. Basel III capital framework, to avoid being subject to limits on capital distributions and certain discretionary bonus payments to officers. The capital conservation buffer which was fully phased-in on January 1, 2019, is a minimum of 2.5% of additional capital in addition to the minimum risk-based capital ratios.

As of December 31, 2020, the Company and the Bank were well capitalized as defined in the regulatory framework for prompt corrective action. The capital conservation buffer requirements do not currently result in any limitations on distributions or discretionary bonuses for the Company or the Bank. There were no conditions or events since December 31, 2020, that management believes have changed the Company or the Bank’s capital classifications.

We have elected to apply the modified transition provision related to the impact of the CECL accounting standard on regulatory capital, as provided by the US banking agencies’ March 2020 interim final rule. Under the modified CECL transition provision, the regulatory capital impact of the Day 1 adjustment to the allowance for credit losses (after-tax), upon the January 1, 2020, CECL adoption date, has been deferred, and will phase in to regulatory capital at 25% per year commencing January 1, 2022. For the ongoing impact of CECL, we are allowed to defer the regulatory capital impact of the allowance for credit losses in an amount equal to 25% of the change in the allowance for credit losses (pre-tax) recognized through earnings for each period between January 1, 2020, and December 31, 2021. The cumulative adjustment to the allowance for credit losses between January 1, 2020, and December 31, 2021, will also phase in to regulatory capital at 25% per year commencing January 1, 2022.

Dividends

Dividends paid by the Parent are substantially funded from dividends received from the Bank. The Bank is subject to federal and state regulatory restrictions that limit cash dividends and loans to the Parent. These restrictions generally require advanced approval from the Bank’s regulator for payment of dividends in excess of the sum of net income for the current calendar year and the retained net income of the prior two calendar years.

Common Stock Repurchase Program

The Parent has a common stock repurchase program in which shares repurchased are held in treasury stock for reissuance in connection with share-based compensation plans and for general corporate purposes. For the year ended December 31, 2020, the Parent repurchased 156,358 shares of common stock under its share repurchase program at an average cost per share of $89.32 and total cost of $14.0 million. From the beginning of the stock repurchase program in July 2001 through December 31, 2020, the Parent repurchased a total of 57.1 million shares of common stock at an average cost of $40.51 per share and total cost of $2.3 billion. On March 17, 2020, we suspended share repurchases in light of the COVID-19 pandemic. The actual amount and timing of future share repurchases, if any, will depend on market conditions, applicable SEC rules and various other factors.

Accumulated Other Comprehensive Income

The following table presents the components of other comprehensive income (loss), net of tax:

(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Year Ended December 31, 2020
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	58,763		$	15,600		$	43,163
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale		(77	)		(50	)		(27	)
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities ¹		397			105			292
Net Unrealized Gains (Losses) on Investment Securities		59,083			15,655			43,428
Defined Benefit Plans:
Net Actuarial Gains (Losses) Arising During the Period		(8,187	)		(2,170	)		(6,017	)
Amortization of Net Actuarial Losses (Gains)		2,318			614			1,704
Amortization of Prior Service Credit		(246	)		(65	)		(181	)
Defined Benefit Plans, Net		(6,115	)		(1,621	)		(4,494	)
Other Comprehensive Income (Loss)	$	52,968		$	14,034		$	38,934

Year Ended December 31, 2019
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	30,169		$	8,001		$	22,168
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale		(152	)		(49	)		(103	)
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities ¹		833			221			612
Net Unrealized Gains (Losses) on Investment Securities		30,850			8,173			22,677
Defined Benefit Plans:
Net Actuarial Gains (Losses) Arising During the Period		(5,046	)		(1,337	)		(3,709	)
Amortization of Net Actuarial Losses (Gains)		1,598			423			1,175
Amortization of Prior Service Credit		(288	)		(76	)		(212	)
Defined Benefit Plans, Net		(3,736	)		(990	)		(2,746	)
Other Comprehensive Income (Loss)	$	27,114		$	7,183		$	19,931

Year Ended December 31, 2018
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	(11,051	)	$	(2,931	)	$	(8,120	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities¹		2,164			569			1,595
Net Unrealized Gains (Losses) on Investment Securities		(8,887	)		(2,362	)		(6,525	)
Defined Benefit Plans:
Net Actuarial Gains (Losses) Arising During the Period		(4,468	)		(1,184	)		(3,284	)
Amortization of Net Actuarial Losses (Gains)		1,835			460			1,375
Amortization of Prior Service Credit		(567	)		(150	)		(417	)
Defined Benefit Plans, Net		(3,200	)		(874	)		(2,326	)
Other Comprehensive Income (Loss)	$	(12,087	)	$	(3,236	)	$	(8,851	)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax:

(dollars in thousands)	Investment Securities- Available- For-Sale			Investment Securities- Held-To- Maturities			Defined Benefit Plans			Accumulated Other Comprehensive Income (Loss)
Year Ended December 31, 2020
Balance at Beginning of Period	$	8,359		$	(715	)	$	(38,756	)	$	(31,112	)
Other Comprehensive Income (Loss) Before Reclassifications		43,163			—			(6,017	)		37,146
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		(27	)		292			1,523			1,788
Total Other Comprehensive Income (Loss)		43,136			292			(4,494	)		38,934
Balance at End of Period	$	51,495		$	(423	)	$	(43,250	)	$	7,822

Year Ended December 31, 2019
Balance at Beginning of Period	$	(10,447	)	$	(4,586	)	$	(36,010	)	$	(51,043	)
Other Comprehensive Income (Loss) Before Reclassifications		22,168			—			(3,709	)		18,459
Cumulative Effect of ASU 2019-04		(3,259	)		3,259			—			—
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		(103	)		612			963			1,472
Total Other Comprehensive Income (Loss)		18,806			3,871			(2,746	)		19,931
Balance at End of Period	$	8,359		$	(715	)	$	(38,756	)	$	(31,112	)

Year Ended December 31, 2018
Balance at Beginning Period	$	(1,915	)	$	(5,085	)	$	(27,715	)	$	(34,715	)
Other Comprehensive Income (Loss) Before Reclassifications		(8,120	)		—			(3,284	)		(11,404	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		—			1,595			958			2,553
Total Other Comprehensive Income (Loss)		(8,120	)		1,595			(2,326	)		(8,851	)
Reclassification of the Income Tax Effects of the Tax Act from AOCI		(412	)		(1,096	)		(5,969	)		(7,477	)
Balance at End of Period	$	(10,447	)	$	(4,586	)	$	(36,010	)	$	(51,043	)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss):

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)¹									Affected Line Item in the Statement Where Net Income Is Presented
(dollars in thousands)	Year Ended December 31,
	2020			2019			2018
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(397	)	$	(833	)	$	(2,164	)	Interest Income
		105			221			569		Provision for Income Tax
		(292	)		(612	)		(1,595	)	Net of Tax
Sales of Investment Securities Available-for-Sale		77			152			—		Investment Securities Gains (Losses), Net
		(50	)		(49	)		—		Provision for Income Tax
		27			103			—		Net of Tax

Amortization of Defined Benefit Plans Items
Prior Service Credit ²		246			288			567
Net Actuarial Losses ²		(2,318	)		(1,598	)		(1,835	)
		(2,072	)		(1,310	)		(1,268	)	Total Before Tax
		549			347			310		Provision for Income Tax
		(1,523	)		(963	)		(958	)	Net of Tax

Total Reclassifications for the Period	$	(1,788	)	$	(1,472	)	$	(2,553	)	Net of Tax

¹	^{Amounts in parentheses indicate reductions to net income.}

²	^{These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost and are included in Other Noninterest Expense on the consolidated statements of income (see Note 14 Pension Plans and Postretirement Benefit Plan for additional details).}

Summary of Significant Accounting Policies - Schedule of Allowance for Credit Losses Upon Adoption of ASU 2016-13 (Details) - USD ($) $ in Thousands	Jan. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses		$ 216,252	$ 110,027	$ 106,693	$ 107,346
Accounting Standards Update 2016-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses			110,027
Reserve for Unfunded Commitments			6,822
Total Reserve for Credit Losses			116,849
Accounting Standards Update 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses	$ (1,737)		(1,737)
Reserve for Unfunded Commitments	(3,335)
Total Reserve for Credit Losses	(5,072)
Retained Earnings
Total Pre-tax Impact	5,072
Tax Effect	(1,440)
Increase to Retained Earnings	3,632
Accounting Standards Update 2016-13 \| January 1, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses	108,290		108,290
Reserve for Unfunded Commitments	3,487
Total Reserve for Credit Losses	111,777
Accounting Standards Update 2016-13 \| Commercial Loan
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses			73,801
Accounting Standards Update 2016-13 \| Commercial Loan \| Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses	(18,789)
Accounting Standards Update 2016-13 \| Commercial Loan \| January 1, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses	55,012
Accounting Standards Update 2016-13 \| Consumer Loan
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses			$ 36,226
Accounting Standards Update 2016-13 \| Consumer Loan \| Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses	17,052
Accounting Standards Update 2016-13 \| Consumer Loan \| January 1, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total Allowance for Credit Losses	$ 53,278

Commitments, Contingencies, and Guarantees

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments, Contingencies, and Guarantees

Note 20. Commitments, Contingencies, and Guarantees

The Company’s credit commitments as of December 31, 2020, were as follows:

(dollars in thousands)	December 31, 2020
Unfunded Commitments to Extend Credit	$	2,787,123
Standby Letters of Credit		100,186
Commercial Letters of Credit		10,511
Total	$	2,897,820

Unfunded Commitments to Extend Credit

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of the terms or conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since commitments may expire without being drawn, the total commitment amount does not necessarily represent future cash requirements.

Standby and Commercial Letters of Credit

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Standby letters of credit generally become payable upon the failure of the customer to perform according to the terms of the underlying contract with the third party, while commercial letters of credit are issued specifically to facilitate commerce and typically result in the commitment being drawn on when the underlying transaction is consummated between the customer and a third party. The contractual amount of these letters of credit represents the maximum potential future payments guaranteed by the Company. The Company has recourse against the customer for any amount it is required to pay to a third party under a standby letter of credit, and generally holds cash or deposits as collateral on those standby letters of credit for which collateral is deemed necessary. Assets valued at $73.3 million secured certain specifically identified standby letters of credit as of December 31, 2020. As of December 31, 2020, the standby and commercial letters of credit had remaining terms ranging from 1 to 14 months.

Contingencies

The Company, along with other members of Visa, are parties to Loss and Judgment Sharing Agreements (the “Agreements”), which provide that the Company along with other member banks of Visa, will share, based on their proportionate interests in Visa, in any losses from certain litigation specified in the Agreements. In March 2008, Visa funded an escrow account from its initial public offering to settle claims covered under the Agreements. In connection with the initial public offering, the Company received restricted Class B common stock in Visa. Should the escrow account established by Visa not be sufficient to cover litigation claims specified in the Agreements, Visa is entitled to fund additional amounts to the escrow account by reducing each member bank’s Class B conversion ratio to unrestricted Class A shares. As of December 31, 2020, management believes that the Company’s indemnification of Visa, related to the costs of these lawsuits, will be sufficiently funded from the escrow account or through future reductions in the conversion ratio. See Note 3 Investment Securities and Note 17 Derivative Financial Instruments for more information.

On September 9, 2016, a purported class action lawsuit was filed by a Bank customer primarily alleging Bank of Hawaii’s practice of determining whether consumer deposit accounts were overdrawn based on “available balance” (which deducts debit card transactions that have taken place but which have not yet been posted) was not properly applied or disclosed to customers. On December 6, 2019, the parties executed a settlement agreement subject to court approval. The settlement provides for forgiveness of certain related and previously charged off overdraft fees, and a payment by the Company of $8.0 million into a class settlement fund the proceeds of which will be used to refund class members, and to pay attorneys’ fees, administrative and other costs, in exchange for a complete release of all claims asserted against the Company. Although the Company previously established a $2.0 million reserve relating to this claim, the reserve has been increased to a total of $8.0 million as of December 31, 2020. On December 22, 2020, the Court issued an Order Granting Final Approval of Class Action Settlement and the settlement became effective on January 21, 2021. Refunds to current customers were issued by the Bank on January 26, 2021, and the Claims Administrator is in the process of issuing refunds to class members with closed accounts.

In addition to the litigation noted above, the Company is subject to various other pending and threatened legal proceedings arising out of the normal course of business or operations. On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with outstanding legal proceedings utilizing the most recent information available. On a case-by-case basis, reserves are established for those legal claims for which it is probable that a loss will be incurred and the amount of such loss can be reasonably estimated. Based on information currently available, management believes that the eventual outcome of these claims against the Company will not be materially in excess of such amounts reserved by the Company. However, in the event of unexpected future developments, it is possible that the ultimate resolution of these matters may result in a loss that materially exceeds the reserves established by the Company.

Risks Related to Representation and Warranty Provisions

The Company sells residential mortgage loans in the secondary market primarily to the Fannie Mae. The Company also pools FHA insured and VA guaranteed residential mortgage loans for sale to Ginnie Mae. These pools of FHA-insured and VA-guaranteed residential mortgage loans are securitized by Ginnie Mae. The agreements under which the Company sells residential mortgage loans to Fannie Mae or Ginnie Mae and the insurance or guaranty agreements with FHA and VA contain provisions that include various representations and warranties regarding the origination and characteristics of the residential mortgage loans. Although the specific representations and warranties vary among investors, insurance or guarantee agreements, they typically cover ownership of the loan, validity of the lien securing the loan, the absence of delinquent taxes or liens against the property securing the loan, compliance with loan criteria set forth in the applicable agreement, compliance with applicable federal, state, and local laws, and other matters. As of December 31, 2020, the unpaid principal balance of residential mortgage loans sold by the Company was $2.5 billion. The agreements under which the Company sells residential mortgage loans require delivery of various documents to the investor or its document custodian. Although these loans are primarily sold on a non-recourse basis, the Company may be obligated to repurchase residential mortgage loans or reimburse investors for losses incurred if a loan review reveals that underwriting and documentation standards were potentially not met. Some agreements may require the Company to repurchase delinquent loans. Upon receipt of a repurchase request, the Company works with investors or insurers to arrive at a mutually agreeable resolution. Repurchase demands are typically reviewed on an individual loan by loan basis to validate the claims made by the investor or insurer and to determine if a contractually required repurchase event has occurred. The Company manages the risk associated with potential repurchases or other forms of settlement through its underwriting and quality assurance practices and by servicing mortgage loans to meet investor and secondary market standards. For the year ended December 31, 2020, the Company repurchased forty residential mortgage loans with an aggregate unpaid principal balance totaling $13.4 million as a result of the representation and warranty provisions contained in these contracts. The loans were delinquent as to principal and interest at the time of repurchase, however, no material losses were incurred related to these repurchases. As of December 31, 2020, there were no pending repurchase requests related to representation and warranty provisions.

Risks Relating to Residential Mortgage Loan Servicing Activities

In addition to servicing loans in the Company’s portfolio, substantially all of the loans the Company sells to investors are sold with servicing rights retained. The Company also services loans originated by other mortgage loan originators. As servicer, the Company’s primary duties are to: (1) collect payments due from borrowers; (2) advance certain delinquent payments of principal and interest; (3) maintain and administer any hazard, title, or primary mortgage insurance policies relating to the mortgage loans; (4) maintain any required escrow accounts for payment of taxes and insurance and administer escrow payments; and (5) foreclose on defaulted mortgage loans or, to the extent consistent with the documents governing a securitization, consider alternatives to foreclosure, such as loan modifications or short sales. Each agreement under which the Company acts as servicer generally specifies a standard of responsibility for actions taken by the Company in such capacity and provides protection against expenses and liabilities incurred by the Company when acting in compliance with the respective servicing agreements. However, if the Company commits a material breach of obligations as servicer, the Company may be subject to termination if the breach is not cured within a specified period following notice. The standards governing servicing and the possible remedies for violations of such standards vary by investor. These standards and remedies are determined by servicing guides issued by the investors as well as the contract provisions established between the investors and the Company. Remedies could include repurchase of an affected loan. For the year ended December 31, 2020, the Company had no repurchase requests related to loan servicing activities. As of December 31, 2020, there were no pending repurchase requests related to loan servicing activities.

Although to date repurchase requests related to representation and warranty provisions, and servicing activities have been limited, it is possible that requests to repurchase mortgage loans may increase in frequency as investors more aggressively pursue all means of recovering losses on their purchased loans. However, as of December 31, 2020, management believes that this exposure is not material due to the historical level of repurchase requests and loss trends and thus has not established a liability for losses related to mortgage loan repurchases. As of December 31, 2020, 99% of the Company’s residential mortgage loans serviced for investors were current. The Company maintains ongoing communications with investors and continues to evaluate this exposure by monitoring the level and number of repurchase requests as well as the delinquency rates in the loans sold to investors.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1. Summary of Significant Accounting Policies

Basis of Presentation

Certain prior period information has been reclassified to conform to the current year presentation.

The following is a summary of the Company’s significant accounting policies:

Consolidation

Variable Interest Entities

Investment Securities

Loans Held for Sale

Loans and Leases

Non-Performing Loans and Leases

Loans Modified in a Troubled Debt Restructuring

Reserve for Credit Losses

Allowance for Credit Losses - Loans and Leases (the “Allowance”)

Commercial Portfolio Segment

Consumer Portfolio Segment

The Company also considers qualitative adjustments to the quantitative baseline. For example, the Company considers the impact of current environmental factors at the reporting date that did not exist over the period from which historical experience was used. The environmental factors considered for the consumer portfolio are similar to the aforementioned factors considered for the commercial portfolio.

See Note 4 Loans and Leases and the Allowance for Credit Losses for more information.

Allowance for Credit Losses - Held-to-Maturity (“HTM”) Debt Securities

Allowance for Credit Losses - Available-for-Sale (“AFS”) Debt Securities

Accrued Interest Receivable

•

Presenting accrued interest receivable balances separately within another consolidated statements of condition line item.

•

Excluding accrued interest receivable that is included in the amortized cost of financing receivables from related disclosure requirements.

•

Collateral-Dependent Loans

Reserve for Unfunded Commitments

Operating, Accounting and Reporting Considerations related to COVID-19

•

Nonaccrual Status and Charge-offs - During short-term COVID-19 modifications, these loans generally should not be reported as nonaccrual or as classified.

Cash and Cash Equivalents

Premises and Equipment

Foreclosed Real Estate

Mortgage Servicing Rights

Goodwill

Non-Marketable Equity Securities

Bank-Owned Life Insurance

Securities Sold Under Agreements to Repurchase

Pension and Postretirement Benefit Plans

Income Taxes

Treasury Stock

Earnings Per Share

Derivative Financial Instruments

Share-Based Compensation

Advertising Costs

International Operations

The Bank has operations that are conducted in certain Pacific Islands that are denominated in U.S. dollars. These operations are classified as domestic.

Fair Value Measurements

Level 1:	Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. A contractually binding sales price also provides reliable evidence of fair value.
Level 2:	Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that utilize model-based techniques for which all significant assumptions are observable in the market.
Level 3:	Inputs to the valuation methodology are unobservable and significant to the fair value measurement; inputs to the valuation methodology that utilize model-based techniques for which significant assumptions are not observable in the market; or inputs to the valuation methodology that requires significant management judgment or estimation, some of which may be internally developed.

See Note 14 Employee Benefits and Note 21 Fair Value of Assets and Liabilities for the required fair value measurement disclosures.

Accounting Standards Adopted in 2020

(dollars in thousands)	December 31, 2019		CECL Adoption Impact			January 1, 2020
Allowance for Credit Losses:
Commercial	$	73,801	$	(18,789	)	$	55,012
Consumer		36,226		17,052			53,278
Total Allowance for Credit Losses		110,027		(1,737	)		108,290
Reserve for Unfunded Commitments		6,822		(3,335	)		3,487
Total Reserve for Credit Losses	$	116,849	$	(5,072	)	$	111,777
Retained Earnings
Total Pre-tax Impact			$	5,072
Tax Effect				(1,440	)
Increase to Retained Earnings			$	3,632

Employee Benefits - Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax
Net Actuarial Gains (Losses)	$ (43,101)	$ (41,404)
Net Prior Service Credit	0	0
Total Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax	(43,101)	(41,404)
Postretirement Benefits
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax
Net Actuarial Gains (Losses)	(1,613)	1,003
Net Prior Service Credit	1,464	1,645
Total Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (149)	$ 2,648

Investment Securities

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Investment Securities

Note 3. Investment Securities

The amortized cost, gross unrealized gains and losses, and fair value of the Company’s investment securities as of December 31, 2020, December 31, 2019, and December 31, 2018, were as follows:

(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2020
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	174,409	$	427	$	(591	)	$	174,245
Debt Securities Issued by States and Political Subdivisions		23,540		1,301		(1	)		24,840
Debt Securities Issued by U.S. Government-Sponsored Enterprises		985		77		—			1,062
Debt Securities Issued by Corporations		220,717		4,844		(956	)		224,605
Mortgage-Backed Securities:
Residential - Government Agencies		1,561,603		33,657		(445	)		1,594,815
Residential - U.S. Government-Sponsored Enterprises		1,497,353		21,254		(324	)		1,518,283
Commercial - Government Agencies		243,029		10,868		(58	)		253,839
Total Mortgage-Backed Securities		3,301,985		65,779		(827	)		3,366,937
Total	$	3,721,636	$	72,428	$	(2,375	)	$	3,791,689
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	7,500	$	8	$	(8	)	$	7,500
Debt Securities Issued by States and Political Subdivisions		33,763		741		—			34,504
Debt Securities Issued by Corporations		12,031		251		—			12,282
Mortgage-Backed Securities:
Residential - Government Agencies		917,459		30,580		(29	)		948,010
Residential - U.S. Government-Sponsored Enterprises		2,099,053		51,735		(291	)		2,150,497
Commercial - Government Agencies		192,921		3,179		(200	)		195,900
Total Mortgage-Backed Securities		3,209,433		85,494		(520	)		3,294,407
Total	$	3,262,727	$	86,494	$	(528	)	$	3,348,693
December 31, 2019
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	222,365	$	213	$	(1,447	)	$	221,131
Debt Securities Issued by States and Political Subdivisions		54,480		631		(14	)		55,097
Debt Securities Issued by U.S. Government-Sponsored Enterprises		22,128		19		—			22,147
Debt Securities Issued by Corporations		335,553		1,401		(633	)		336,321
Mortgage-Backed Securities:
Residential - Government Agencies		1,164,466		11,627		(3,267	)		1,172,826
Residential - U.S. Government-Sponsored Enterprises		584,272		4,363		(1,874	)		586,761
Commercial - Government Agencies		224,372		2,889		(2,541	)		224,720
Total Mortgage-Backed Securities		1,973,110		18,879		(7,682	)		1,984,307
Total	$	2,607,636	$	21,143	$	(9,776	)	$	2,619,003
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	274,375	$	1,319	$	(31	)	$	275,663
Debt Securities Issued by States and Political Subdivisions		54,811		1,236		—			56,047
Debt Securities Issued by Corporations		14,975		—		(138	)		14,837
Mortgage-Backed Securities:
Residential - Government Agencies		1,067,416		13,247		(5,348	)		1,075,315
Residential - U.S. Government-Sponsored Enterprises		1,546,479		13,871		(2,478	)		1,557,872
Commercial - Government Agencies		84,238		317		(1,407	)		83,148
Total Mortgage-Backed Securities		2,698,133		27,435		(9,233	)		2,716,335
Total	$	3,042,294	$	29,990	$	(9,402	)	$	3,062,882
December 31, 2018
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	394,485	$	493	$	(2,577	)	$	392,401
Debt Securities Issued by States and Political Subdivisions		559,800		5,227		(1,031	)		563,996
Debt Securities Issued by U.S. Government-Sponsored Enterprises		56		—		—			56
Debt Securities Issued by Corporations		224,997		—		(1,857	)		223,140
Mortgage-Backed Securities:
Residential - Government Agencies		189,645		1,726		(929	)		190,442
Residential - U.S. Government-Sponsored Enterprises		589,311		1,779		(12,563	)		578,527
Commercial - Government Agencies		63,864		—		(4,484	)		59,380
Total Mortgage-Backed Securities		842,820		3,505		(17,976	)		828,349
Total	$	2,022,158	$	9,225	$	(23,441	)	$	2,007,942
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	353,122	$	186	$	(1,093	)	$	352,215
Debt Securities Issued by States and Political Subdivisions		234,602		6,150		—			240,752
Debt Securities Issued by Corporations		97,266		—		(1,755	)		95,511
Mortgage-Backed Securities:
Residential - Government Agencies		1,861,874		3,886		(51,773	)		1,813,987
Residential - U.S. Government-Sponsored Enterprises		758,835		1,590		(20,259	)		740,166
Commercial - Government Agencies		176,393		147		(5,177	)		171,363
Total Mortgage-Backed Securities		2,797,102		5,623		(77,209	)		2,725,516
Total	$	3,482,092	$	11,959	$	(80,057	)	$	3,413,994

The Company elected to exclude accrued interest receivable (“AIR”) from the amortized cost basis of debt securities disclosed throughout this footnote. For available-for-sale (“AFS”) debt securities, AIR totaled $6.6 million and $7.5 million as of December 31, 2020, and December 31, 2019, respectively. For held-to-maturity (“HTM”) debt securities, AIR totaled $6.8 million and $8.1 million as of December 31, 2020, and December 31, 2019, respectively. AIR is included in the “accrued interest receivable” line item on the Company’s consolidated statements of condition.

The table below presents an analysis of the contractual maturities of the Company’s investment securities as of December 31, 2020. Debt securities issued by government agencies (Small Business Administration securities) and mortgage-backed securities are disclosed separately in the table below as these investment securities may prepay prior to their scheduled contractual maturity dates.

(dollars in thousands)	Amortized Cost		Fair Value
Available-for-Sale:
Due in One Year or Less	$	52,461	$	52,378
Due After One Year Through Five Years		46,727		47,767
Due After Five Years Through Ten Years		146,958		151,282
		246,146		251,427
Debt Securities Issued by Government Agencies		173,505		173,325
Mortgage-Backed Securities:
Residential - Government Agencies		1,561,603		1,594,815
Residential - U.S. Government-Sponsored Enterprises		1,497,353		1,518,283
Commercial - Government Agencies		243,029		253,839
Total Mortgage-Backed Securities		3,301,985		3,366,937
Total	$	3,721,636	$	3,791,689
Held-to-Maturity:
Due in One Year or Less	$	33,763	$	34,504
Due After One Year Through Five Years		19,531		19,782
		53,294		54,286
Mortgage-Backed Securities:
Residential - Government Agencies		917,459		948,010
Residential - U.S. Government-Sponsored Enterprises		2,099,053		2,150,497
Commercial - Government Agencies		192,921		195,900
Total Mortgage-Backed Securities		3,209,433		3,294,407
Total	$	3,262,727	$	3,348,693

Investment securities with carrying values of $3.6 billion, $2.6 billion, $2.3 billion as of December 31, 2020, December 31, 2019, and December 31, 2018, respectively, were pledged to secure deposits of governmental entities and securities sold under agreements to repurchase.

The table below presents the gains and losses from the sales of investment securities for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

(dollars in thousands)	2020			2019			2018
Gross Gains on Sales of Investment Securities	$	14,257		$	7,810		$	—
Gross Losses on Sales of Investment Securities		(4,325	)		(11,796	)		(3,938	)
Net Gains (Losses) on Sales of Investment Securities	$	9,932		$	(3,986	)	$	(3,938	)

The losses on sales of investment securities during the years ended December 31, 2020, December 31, 2019, and December 31, 2018, were due to fees paid to the counterparties of the Company’s prior Visa Class B share sale transactions, which are expensed as incurred. The gross gains and losses on sales of investment securities during the year ended December 31, 2019, included sales of AFS municipal debt securities, mortgage-backed securities, and corporate debt securities as part of a portfolio repositioning. In addition, losses during the years ended December 31, 2019, and December 31, 2018, included $0.5 million and $1.0 million, respectively, related to a reduction in the Visa Class B conversion ratio.

The following table summarizes the Company’s AFS debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by major security type and length of time in a continuous unrealized loss position:

	Less Than 12 Months					12 Months or Longer					Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
December 31, 2020
Available-for-Sales:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	87,070	$	(549	)	$	21,338	$	(42	)	$	108,408	$	(591	)
Debt Securities Issued by States and Political Subdivisions		26		(1	)		—		—			26		(1	)
Debt Securities Issued by Corporations		50,000		(103	)		65,000		(853	)		115,000		(956	)
Mortgage-Backed Securities:
Residential - Government Agencies		28,063		(223	)		113,538		(222	)		141,601		(445	)
Residential - U.S. Government-Sponsored Enterprises		—		—			94,002		(324	)		94,002		(324	)
Commercial - Government Agencies		—		—			25,075		(58	)		25,075		(58	)
Total Mortgage-Backed Securities		28,063		(223	)		232,615		(604	)		260,678		(827	)
Total	$	165,159	$	(876	)	$	318,953	$	(1,499	)	$	484,112	$	(2,375	)
December 31, 2019
Available-for-Sales:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	65,479	$	(188	)	$	101,761	$	(1,259	)	$	167,240	$	(1,447	)
Debt Securities Issued by States and Political Subdivisions		6,788		(14	)		440		—			7,228		(14	)
Debt Securities Issued by Corporations		25,892		(326	)		74,693		(307	)		100,585		(633	)
Mortgage-Backed Securities:
Residential - Government Agencies		119,271		(526	)		170,805		(2,741	)		290,076		(3,267	)
Residential - U.S. Government-Sponsored Enterprises		187,861		(816	)		73,720		(1,058	)		261,581		(1,874	)
Commercial - Government Agencies		59,826		(319	)		52,965		(2,222	)		112,791		(2,541	)
Total Mortgage-Backed Securities		366,958		(1,661	)		297,490		(6,021	)		664,448		(7,682	)
Total	$	465,117	$	(2,189	)	$	474,384	$	(7,587	)	$	939,501	$	(9,776	)

The Company does not believe that the AFS debt securities that were in an unrealized loss position as of December 31, 2020, which were comprised of 74 individual securities, represent a credit loss impairment. The gross unrealized losses in the Company’s corporate bond portfolio were related to debt securities issued by large multinational banks. The unrealized losses primarily resulted from an increase in credit spreads due to the economic uncertainty related to COVID-19. However, as of December 31, 2020, such credit spreads have tightened significantly from their widest levels experienced in the first quarter of 2020. In addition, banks have built up substantial capital buffers since the financial crisis of 2008 which helps to mitigate the likelihood of credit losses. As of December 31, 2020, there have been no payment defaults nor do we currently expect any future payment defaults. Furthermore, the Company does not intend to sell these securities, and it is not more likely than not that the Company will be required to sell the investment securities before recovery of their amortized cost basis, which may be at maturity.

The remainder of the AFS debt securities in an unrealized loss position as of December 31, 2020, consisted of debt securities issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Total gross unrealized losses were primarily attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. The Company does not intend to sell the investment securities that were in an unrealized loss position and it is not more likely than not that the Company will be required to sell the investment securities before recovery of their amortized cost basis, which may be at maturity.

Substantially all of the Company’s HTM debt securities are issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Therefore, the Company did not record an allowance for credit losses for these securities as of December 31, 2020.

Interest income from taxable and non-taxable investment securities for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, were as follows:

	Year Ended December 31,
(dollars in thousands)	2020		2019		2018
Taxable	$	125,291	$	137,204	$	115,947
Non-Taxable		2,058		6,586		18,515
Total Interest Income from Investment Securities	$	127,349	$	143,790	$	134,462

As of December 31, 2020, and December 31, 2019, the carrying value of the Company’s Federal Home Loan Bank of Des Moines (“FHLB Des Moines”) stock and Federal Reserve Bank stock was as follows:

	December 31,
(dollars in thousands)	2020		2019
Federal Home Loan Bank Stock	$	12,000	$	13,000
Federal Reserve Bank Stock		21,340		21,093
Total	$	33,340	$	34,093

These securities can only be redeemed or sold at their par value and only to the respective issuing government-supported institution or to another member institution. The Company records these non-marketable equity securities as a component of other assets and periodically evaluates these securities for impairment. Management considers these non-marketable equity securities to be long-term investments. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value.

Visa Class B Restricted Shares

In 2008, the Company received Visa Class B restricted shares as part of Visa’s initial public offering. These shares are transferable only under limited circumstances until they can be converted into the publicly traded Class A common shares. This conversion will not occur until the settlement of certain litigation which is indemnified by Visa members, including the Company. Visa funded an escrow account from its initial public offering to settle these litigation claims. Should this escrow account not be sufficient to cover these litigation claims, Visa is entitled to fund additional amounts to the escrow account by reducing each member bank’s Class B conversion ratio to unrestricted Class A shares. As of December 31, 2020, the conversion ratio was 1.6228. See Note 17 Derivative Financial Instruments for more information.

During the second quarter of 2020, the Company recorded a $14.2 million gain on sale of its remaining 80,214 Visa Class B Shares. As a result of this sale, the Company no longer owns any Visa Class B shares. Concurrent with certain sales the Company enters into an agreement with the buyer that requires payment to the buyer in the event Visa further reduces the conversion ratio.

Summary of Significant Accounting Policies - Additional Information (Details)		12 Months Ended
	Jan. 01, 2020 USD ($)	Dec. 31, 2020 USD ($) segment plan	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Unfunded commitments to fund low-income housing partnerships		$ 52,959,000
Variable interest entity, nonconsolidated, carrying amount, assets		20,603,651,000	$ 18,095,496,000	$ 17,143,974,000
Trading securities		$ 0	0
Number of portfolio segments of loans and leases (commercial and consumer) \| segment		2
Period during which non-accrual loan that has been modified in a troubled debt restructuring remains on non-accrual status (in months)		6 months
Allowance for accrued interest receivable		$ 2,700,000
CARES Act estimated provision for relief measures		$ 2,200,000,000,000
Maximum original maturity period of cash and cash equivalents (in days)		90 days
Goodwill impairment		$ 0
Number of company's pension plans \| plan		2
Minimum percentage of net actuarial gain (loss) will be amortized in net periodic benefit cost		10.00%
Minimum percentage of likelihood of tax position being realized upon ultimate settlement according to management's judgment		50.00%
Advertising costs		$ 8,300,000	6,100,000	$ 6,000,000.0
Accounting Standards Update 2016-13
Summary Of Significant Accounting Policies [Line Items]
Total reserve for credit losses			116,849,000
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Accounting Standards Update 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Summary Of Significant Accounting Policies [Line Items]
Total reserve for credit losses	$ (5,072,000)
Increase to retained earnings	$ 3,632,000
ASU No. 2018-13
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Dec. 15, 2019
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false]		true
ASU No. 2019-04
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Dec. 15, 2019
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true
ASU No. 2019-05
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true
ASU No. 2019-11
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true
Maximum \| Building
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives (in years)		30 years
Maximum \| Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives (in years)		10 years
Home Equity
Summary Of Significant Accounting Policies [Line Items]
Minimum maturity period to be considered to place loans and leases on non-accrual status (in days)		120 days
Home Equity \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Combined loan-to-value ratio, considered in determining whether the entire outstanding balance on the loan is to be charged-off or not (as a percent)		60.00%
Commercial
Summary Of Significant Accounting Policies [Line Items]
Minimum maturity period to be considered to place loans and leases on non-accrual status (in days)		90 days
Residential Mortgage and Home Equity Loan
Summary Of Significant Accounting Policies [Line Items]
Minimum maturity period to be considered to place loans and leases on non-accrual status (in days)		120 days
Automobile and Other consumer
Summary Of Significant Accounting Policies [Line Items]
Minimum maturity period to be considered for loans and leases to be charged off (in days)		120 days
Commercial and Industrial
Summary Of Significant Accounting Policies [Line Items]
Minimum maturity period to be considered for loans and leases to be charged off (in days)		120 days
Other Liabilities
Summary Of Significant Accounting Policies [Line Items]
Unfunded commitments to fund low-income housing partnerships		$ 53,000,000.0	21,300,000
Low-income Housing Partnerships
Summary Of Significant Accounting Policies [Line Items]
Period over which Federal tax credits or benefits are generally recognized (in years)		10 years
Period over which State tax credits or benefits are generally recognized (in years)		5 years
Solar Energy Partnerships
Summary Of Significant Accounting Policies [Line Items]
Period over which Federal tax credits or benefits are generally recognized (in years)		6 years
Variable Interest Entity Nonconsolidated \| Other Assets
Summary Of Significant Accounting Policies [Line Items]
Variable interest entity, nonconsolidated, carrying amount, assets		$ 143,000,000.0	$ 84,600,000

Borrowings - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold Under Agreements to Repurchase	$ 600,590	$ 604,306
Long-term Repurchase Agreements with Government Entities
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold Under Agreements to Repurchase	$ 500	2,100
Repurchase agreements, Weighted average interest rate (as a percent)	1.55%
Repurchase agreement counterparty, weighted average maturity of agreements	3 years 10 months 24 days
Long-term Repurchase Agreements with Private Institutions
Assets Sold Under Agreements To Repurchase [Line Items]
Securities Sold Under Agreements to Repurchase	$ 600,000	$ 600,000
Repurchase agreements, Weighted average interest rate (as a percent)	2.39%
Repurchase agreement counterparty, weighted average maturity of agreements	4 years
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements early termination	3 years 6 months
Long-term Repurchase Agreements with Private Institutions \| Minimum [Member]
Assets Sold Under Agreements To Repurchase [Line Items]
Repurchase agreement remaining weighted average term range	2022
Long-term Repurchase Agreements with Private Institutions \| Maximum
Assets Sold Under Agreements To Repurchase [Line Items]
Repurchase agreement remaining weighted average term range	2026

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Reconciliation of Weighted Average Number of Common Shares Outstanding for Computing Diluted Earnings Per Share and Antidilutive Stock Options and Restricted Stock Outstanding

The following is a reconciliation of the weighted average number of common shares outstanding for computing diluted earnings per share and antidilutive stock options and restricted stock outstanding for the years ended December 31, 2020, December 31, 2019, and December 31, 2018:

	Weighted Average Shares
	2020		2019		2018
Denominator for Basic Earnings Per Share		39,726,210		40,384,328		41,714,770
Dilutive Effect of Equity Based Awards		165,897		265,242		284,629
Denominator for Diluted Earnings Per Share		39,892,107		40,649,570		41,999,399

Antidilutive Stock Options and Restricted Stock Outstanding		113,410		4,905		—

Derivative Financial Instruments - Derivative Financial Instruments and the Amount and Location of the Net Gains or Losses Recognized in the Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments Gain Loss [Line Items]
Net gains (losses) recognized in the statements of income	$ 35,482	$ 19,455	$ 8,353
Interest Rate Lock Commitments \| Mortgage Banking Income
Derivative Instruments Gain Loss [Line Items]
Net gains (losses) recognized in the statements of income	22,348	12,185	3,534
Forward Commitments \| Mortgage Banking Income
Derivative Instruments Gain Loss [Line Items]
Net gains (losses) recognized in the statements of income	(4,274)	(2,340)	821
Interest Rate Swap Agreements \| Other Noninterest Income
Derivative Instruments Gain Loss [Line Items]
Net gains (losses) recognized in the statements of income	15,468	7,172	1,835
Foreign Exchange Contracts \| Other Noninterest Income
Derivative Instruments Gain Loss [Line Items]
Net gains (losses) recognized in the statements of income	$ 1,940	2,891	3,163
Conversion Rate Swap Agreement \| Investment Securities Gains (Losses), Net
Derivative Instruments Gain Loss [Line Items]
Net gains (losses) recognized in the statements of income		$ (453)	$ (1,000)

Fair Value of Assets and Liabilities

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

Note 21. Fair Value of Assets and Liabilities

Fair Value Hierarchy

The following is a description of the valuation methodologies and key inputs used to measure assets and liabilities recorded at fair value on a recurring basis.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Investment Securities Available-for-Sale

Fair values of investment securities available-for-sale were primarily measured using information from a third-party pricing service. This service provides pricing information by utilizing evaluated pricing models supported with market data information. Standard inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data from market research publications. Level 1 investment securities are comprised of debt securities issued by the U.S. Treasury, as quoted prices were available, unadjusted, for identical securities in active markets. Level 2 investment securities were primarily comprised of debt securities issued by the Small Business Administration, states and municipalities, corporations, as well as mortgage-backed securities issued by government agencies and government-sponsored enterprises. Fair values were estimated primarily by obtaining quoted prices for similar assets in active markets or through the use of pricing models. In cases where there may be limited or less transparent information provided by the Company’s third-party pricing service, fair value may be estimated by the use of secondary pricing services or through the use of non-binding third-party broker quotes.

On a quarterly basis, management reviews the pricing information received from the Company’s third-party pricing service. This review process includes a comparison to a second source. The Company’s third-party pricing service has also established processes for us to submit inquiries regarding quoted prices. Periodically, based on these reviews, the Company will challenge the quoted prices provided by the Company’s third-party pricing service. The Company’s third-party pricing service will review the inputs to the evaluation in light of the new market data presented by us. The Company’s third-party pricing service may then affirm the original quoted price or may update the evaluation on a going-forward basis. Generally, we do not adjust the price from the third-party service provider. On a quarterly basis, management also reviews a sample of securities priced by the Company’s third-party pricing service to review the significant assumptions and valuation methodologies used by the service. The information provided is comprised of market reference data, which may include reported trades; bids, offers, or broker/dealer quotes; benchmark yields and spreads; as well as other reference data as appropriate. Based on this review, management determines whether the current placement of the security in the fair value hierarchy is appropriate or whether transfers may be warranted.

Loans Held for Sale

The fair value of the Company’s residential mortgage loans held for sale was determined based on quoted prices for similar loans in active markets, and therefore, is classified as a Level 2 measurement.

Mortgage Servicing Rights

Mortgage servicing rights do not trade in an active market with readily observable market data. As a result, the Company estimates the fair value of mortgage servicing rights by using a discounted cash flow model to calculate the present value of estimated future net servicing income. The Company stratifies its mortgage servicing portfolio on the basis of loan type. The assumptions used in the discounted cash flow model are those that we believe market participants would use in estimating future net servicing income. Significant assumptions in the valuation of mortgage servicing rights include estimated loan repayment rates, the discount rate, servicing costs, and the timing of cash flows, among other factors. Mortgage servicing rights are classified as Level 3 measurements due to the use of significant unobservable inputs, as well as significant management judgment and estimation.

Other Assets

Other assets recorded at fair value on a recurring basis are primarily comprised of investments related to deferred compensation arrangements. Quoted prices for these investments, primarily in mutual funds, are available in active markets. Thus, the Company’s investments related to deferred compensation arrangements are classified as Level 1 measurements in the fair value hierarchy.

Derivative Financial Instruments

Derivative financial instruments recorded at fair value on a recurring basis are comprised of interest rate lock commitments (“IRLCs”), forward commitments, interest rate swap agreements, foreign exchange contracts, and Visa Class B to Class A shares conversion rate swap agreements. The fair values of IRLCs are calculated based on the value of the underlying loan held for sale, which in turn is based on quoted prices for similar loans in the secondary market. However, this value is adjusted by a factor which considers the likelihood that the loan in a locked position will ultimately close. This factor, the closing ratio, is derived from the Bank’s internal data and is adjusted using significant management judgment. As such, IRLCs are classified as Level 3 measurements. Forward commitments are classified as Level 2 measurements as they are primarily based on quoted prices from the secondary market based on the settlement date of the contracts, interpolated or extrapolated, if necessary, to estimate a fair value as of the end of the reporting period. The fair values of interest rate swap agreements are calculated using a discounted cash flow approach and utilize Level 2 observable inputs such as a market yield curve, effective date, maturity date, notional amount, and stated interest rate. In October 2020, the Company revised its discounted cash flow valuation methodology for cleared interest rate swaps with financial institution counterparties (and the related customer interest rate swaps) to align with changes made by central clearinghouses when they migrated from the Effective Federal Funds Rate to the Secured Overnight Financing Rate for discounting, price alignment, and margining purposes. The changes in valuation methodology are applied prospectively as a change in accounting estimate and are immaterial to the Company’s financial statements. The valuation methodology for uncleared interest rate swaps remain based on the Effective Federal Funds Rate. In addition, the Company includes in its fair value calculation a credit factor adjustment which is based primarily on management judgment. Thus, interest rate swap agreements are classified as a Level 3 measurement. The fair values of foreign exchange contracts are calculated using the Bank’s multi-currency accounting system which utilizes contract specific information such as currency, maturity date, contractual amount, and strike price, along with market data information such as the spot rates of specific currency and yield curves. Foreign exchange contracts are classified as Level 2 measurements because while they are valued using the Bank’s multi-currency accounting system, significant management judgment or estimation is not required. The fair value of the Visa Class B restricted shares to Class A unrestricted common shares conversion rate swap agreements represent the amount owed by the Company to the buyer of the Visa Class B shares as a result of a reduction of the conversion ratio subsequent to the sales date. As of December 31, 2020, and December 31, 2019, the conversion rate swap agreements were valued at zero as reductions to the conversion ratio were neither probable nor reasonably estimable by management. See Note 17 Derivative Financial Instruments for more information.

The Company is exposed to credit risk if borrowers or counterparties fail to perform. The Company seeks to minimize credit risk through credit approvals, limits, monitoring procedures, and collateral requirements. The Company generally enters into transactions with borrowers of high credit quality and counterparties that carry high quality credit ratings. Credit risk associated with borrowers or counterparties as well as the Company’s non-performance risk is factored into the determination of the fair value of derivative financial instruments.

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2020, and December 31, 2019:

(dollars in thousands)	Quoted Prices In Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
December 31, 2020
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	921	$	173,324	$	—	$	174,245
Debt Securities Issued by States and Political Subdivisions		—		24,840		—		24,840
Debt Securities Issued by U.S. Government-Sponsored Enterprises		—		1,062		—		1,062
Debt Securities Issued by Corporations		—		224,605		—		224,605
Mortgage-Backed Securities:
Residential - Government Agencies		—		1,594,815		—		1,594,815
Residential - U.S. Government-Sponsored Enterprises		—		1,518,283		—		1,518,283
Commercial - Government Agencies		—		253,839		—		253,839
Total Mortgage-Backed Securities		—		3,366,937		—		3,366,937
Total Investment Securities Available-for-Sale		921		3,790,768		—		3,791,689
Loans Held for Sale		—		82,565		—		82,565
Mortgage Servicing Rights		—		—		958		958
Other Assets		53,410		—		—		53,410
Derivatives ¹		—		878		95,289		96,167
Total Assets Measured at Fair Value on a Recurring Basis as of December 31, 2020	$	54,331	$	3,874,211	$	96,247	$	4,024,789
Liabilities:
Derivatives¹	$	—	$	752	$	17,409	$	18,161
Total Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2020	$	—	$	752	$	17,409	$	18,161
December 31, 2019
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	1,155	$	219,976	$	—	$	221,131
Debt Securities Issued by States and Political Subdivisions		—		55,097		—		55,097
Debt Securities Issued by U.S. Government-Sponsored Enterprises		—		22,147		—		22,147
Debt Securities Issued by Corporations		—		336,321		—		336,321
Mortgage-Backed Securities:
Residential - Government Agencies		—		1,172,826		—		1,172,826
Residential - U.S. Government-Sponsored Enterprises		—		586,761		—		586,761
Commercial - Government Agencies		—		224,720		—		224,720
Total Mortgage-Backed Securities		—		1,984,307		—		1,984,307
Total Investment Securities Available-for-Sale		1,155		2,617,848		—		2,619,003
Loans Held for Sale		—		39,062		—		39,062
Mortgage Servicing Rights		—		—		1,126		1,126
Other Assets		41,464		—		—		41,464
Derivatives¹		—		308		28,623		28,931
Total Assets Measured at Fair Value on a Recurring Basis as of December 31, 2019	$	42,619	$	2,657,218	$	29,749	$	2,729,586
Liabilities:
Derivatives ¹	$	—	$	327	$	6,050	$	6,377
Total Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2019	$	—	$	327	$	6,050	$	6,377

¹	The fair value of each class of derivatives is shown in Note 17 Derivative Financial Instruments.

For the years ended December 31, 2020, and December 31, 2019, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:

(dollars in thousands)	Mortgage Servicing Rights ¹			Net Derivative Assets and Liabilities ²
Year Ended December 31, 2020
Balance as of January 1, 2020	$	1,126		$	22,573
Realized and Unrealized Net Gains (Losses):
Included in Net Income		(168	)		22,219
Transfers to Loans Held for Sale		—			(18,681	)
Variation Margin Payments		—			51,769
Balance as of December 31, 2020	$	958		$	77,880
Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held as of December 31, 2020	$	—		$	77,880

Year Ended December 31, 2019
Balance as of January 1, 2019	$	1,290		$	4,416
Realized and Unrealized Net Gains (Losses):
Included in Net Income		(164	)		12,138
Transfers to Loans Held for Sale		—			(11,776	)
Variation Margin Payments		—			17,795
Balance as of December 31, 2019	$	1,126		$	22,573
Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held as of December 31, 2019	$	—		$	22,573

¹	Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of mortgage banking income in the Company’s consolidated statements of income.

		December 31, 2020												December 31, 2019
(dollars in thousands)	Valuation Technique	Description	Range						Weighted Average¹			Fair Value		Weighted Average¹			Fair Value
Mortgage Servicing Rights	Discounted Cash Flow	Constant Prepayment Rate		8.71	%	-	15.89	%		14.42	%	$	19,652		10.76	%	$	26,840
		Discount Rate		5.69	%	-	6.28	%		5.81	%				7.33	%

Net Derivative Assets and Liabilities:
Interest Rate Lock Commitments	Pricing Model	Closing Ratio		84.10	%	-	99.00	%		90.76	%	$	4,947		92.24	%	$	1,280
Interest Rate Swap Agreements	Discounted Cash Flow	Credit Factor		0.00	%	-	0.49	%		0.29	%	$	72,933		0.20	%	$	21,293

The significant unobservable inputs used in the fair value measurement of the Company’s mortgage servicing rights are the weighted-average constant prepayment rate and weighted-average discount rate. Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. Although the constant prepayment rate and the discount rate are not directly interrelated, they generally move in opposite directions of each other.

The Company estimates the fair value of mortgage servicing rights by using a discounted cash flow model to calculate the present value of estimated future net servicing income. The Company’s Treasury Division enters observable and unobservable inputs into the model to arrive at an estimated fair value. To assess the reasonableness of the fair value measurement, the Treasury Division performs a back-test by comparing the model to historical prepayment data. The Treasury Division also compares the fair value of the Company’s mortgage servicing rights to a value calculated by an independent third party. Discussions are held with members from the Treasury, Mortgage Banking, and Controllers Divisions, along with the independent third party to discuss and reconcile the fair value estimates and key assumptions used by the respective parties in arriving at those estimates. A subcommittee of the Company’s Asset/Liability Management Committee is responsible for providing oversight over the valuation methodology and key assumptions.

The significant unobservable input used in the fair value measurement of the Company’s IRLCs is the closing ratio, which represents the percentage of loans currently in a lock position which management estimates will ultimately close. Generally, the fair value of an IRLC is positive (negative) if the prevailing interest rate is lower (higher) than the IRLC rate. Therefore, an increase in the closing ratio (i.e., higher percentage of loans are estimated to close) will increase the gain or loss. The closing ratio is largely dependent on the loan processing stage that a loan is currently in and the change in prevailing interest rates from the time of the rate lock. The closing ratio is computed by our secondary marketing system using historical data and the ratio is periodically reviewed by the Company for reasonableness.

The unobservable input used in the fair value measurement of the Company’s interest rate swap agreements is the credit spread. This factor represents the risk that a counterparty is either unable or unwilling to settle a transaction in accordance with the underlying contractual terms. A significant increase (decrease) in the credit spread could result in a significantly lower (higher) fair value measurement. The credit spread is based upon the creditworthiness of the borrower and is input into a proprietary model that calculates fair value using probability of default, loss given default, and exposure at default.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(dollars in thousands)

Fair Value

Hierarchy

Net Carrying

Amount

Valuation

Allowance

December 31, 2020

Mortgage Servicing Rights - amortization method

Level 3

18,694

(3,892

)

For the year ended December 31, 2020, the Company recorded a total impairment charge of $7.0 million during the fourth quarter of 2020 to write-down the net book value of 12 branches, cash-only ATMs, and a residual value of a leveraged lease. The impairment charge (included in net occupancy expense $3.6 million, interest and fees on loans and leases $3.0 million, and net equipment expense $0.4 million in the Company's consolidated statements of income) was recorded in the fourth quarter of 2020. The Company fully wrote-down the net book value of right-of-use assets and lease hold improvements due to the planned branch closures. The carrying value of the ATMs and leveraged lease were reduced to estimated fair value less cost to sell based on recent appraisals, market conditions, and/or management judgment. Due to the use of significant unobservable inputs combined with significant management judgment regarding the fair value of the assets, the carrying value was deemed a Level 3 measurement. For the year ended December 31, 2019, the Company recorded a $0.2 million impairment charge to fully write-down the net book value of aircraft parts that were previously on lease agreements. An impairment charge (included in other noninterest expense in the Company's consolidated statements of income) was recorded in the third quarter of 2019 to reduce the carrying value to estimated fair value less cost to sell based on recent appraisals, market conditions, and management judgment. Due to the use of significant unobservable inputs combined with significant management judgment regarding the fair value of the equipment held for sale, the carrying value was deemed a Level 3 measurement.

Fair Value Option

The Company elects the fair value option for all residential mortgage loans held for sale. This election allows for a more effective offset of the changes in fair values of the loans held for sale and the derivative financial instruments used to financially hedge them without having to apply complex hedge accounting requirements. As noted above, the fair value of the Company’s residential mortgage loans held for sale was determined based on quoted prices for similar loans in active markets.

(dollars in thousands)	Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Aggregate Unpaid Principal
December 31, 2020
Loans Held for Sale	$	82,565	$	78,577	$	3,988

December 31, 2019
Loans Held for Sale	$	39,062	$	38,293	$	769

Changes in the estimated fair value of residential mortgage loans held for sale are reported as a component of mortgage banking income in the Company’s consolidated statements of income. For the years ended December 31, 2020, and December 31, 2019, the net gains or losses from the change in fair value of the Company’s residential mortgage loans held for sale were not material.

Financial Instruments Not Recorded at Fair Value on a Recurring Basis

					Fair Value Measurements
(dollars in thousands)	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2020
Financial Instruments – Assets
Investment Securities Held-to-Maturity	$	3,262,727	$	3,348,693	$	7,500	$	3,341,193	$	—
Loans		11,536,011		12,019,151		—		—		12,019,151

Financial Instruments – Liabilities
Time Deposits		1,662,063		1,667,774		—		1,667,774		—
Securities Sold Under Agreements to Repurchase		600,590		649,039		—		649,039		—
Other Debt ¹		50,000		51,546		—		51,546		—

December 31, 2019
Financial Instruments – Assets
Investment Securities Held-to-Maturity	$	3,042,294	$	3,062,882	$	275,663	$	2,787,219	$	—
Loans		10,664,885		10,873,208		—		—		10,873,208

Financial Instruments – Liabilities
Time Deposits		1,802,431		1,800,773		—		1,800,773		—
Securities Sold Under Agreements to Repurchase		604,306		627,780		—		627,780		—
Other Debt ¹		75,000		75,581		—		75,581		—

¹	Excludes finance lease obligations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Employee Benefits - Schedule of Reconciliation of Changes in Benefit Obligation and Fair value of Plan Assets As Well As the Funded Status Recognized in the Consolidated Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Reconciliation of changes in benefit obligations
Benefit Obligation at Beginning of Year	$ 110,637	$ 102,662
Service Cost	0	0	$ 0
Interest Cost	3,627	4,401	4,193
Actuarial Losses (Gains)	10,364	10,359
Employer Benefits Paid	(6,981)	(6,785)
Benefit Obligation at End of Year	117,647	110,637	102,662
Reconciliation of changes in fair value of plan assets
Fair Value of Plan Assets at Beginning of Year	93,638	85,553
Actual Return on Plan Assets	10,764	14,400
Employer Contributions	469	470
Employer Benefits Paid	(6,981)	(6,785)
Fair Value of Plan Assets at End of Year	97,890	93,638	85,553
Funded Status at End of Year	(19,757)	(16,999)
Postretirement Benefits
Reconciliation of changes in benefit obligations
Benefit Obligation at Beginning of Year	27,571	23,452
Service Cost	578	455	457
Interest Cost	945	1,025	936
Actuarial Losses (Gains)	3,559	4,095
Employer Benefits Paid	(1,146)	(1,456)
Benefit Obligation at End of Year	31,507	27,571	$ 23,452
Reconciliation of changes in fair value of plan assets
Employer Contributions	1,146	1,456
Employer Benefits Paid	(1,146)	(1,456)
Funded Status at End of Year	$ (31,507)	$ (27,571)

Revenue Recognition - Summary of Noninterest Income Segregated by Revenue Streams In-Scope and Out-of-Scope of Topic 606 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Service Charges on Deposit Accounts	$ 24,910	$ 30,074	$ 28,811
Fees, Exchange, and Other Service Charges	47,056	57,893	57,482
Annuity and Insurance	3,362	6,934	5,822
Other	30,434	27,489	21,233
Noninterest Income	184,409	183,338	168,923
Accounting Standards Update 2014-09
Disaggregation of Revenue [Line Items]
Noninterest Income	184,409	183,338	168,923
Accounting Standards Update 2014-09 \| Noninterest Income In Scope of Topic 606
Disaggregation of Revenue [Line Items]
Trust and Asset Management	43,456	44,233	43,877
Service Charges on Deposit Accounts	11,715	13,042	13,165
Fees, Exchange, and Other Service Charges	36,005	46,381	46,350
Annuity and Insurance	3,249	6,813	5,615
Other	8,626	9,633	9,652
Noninterest Income	103,051	120,102	118,659
Accounting Standards Update 2014-09 \| Noninterest Income Out of Scope of Topic 606
Disaggregation of Revenue [Line Items]
Noninterest Income	$ 81,358	$ 63,236	$ 50,264

Fair Value of Assets and Liabilities - Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Mortgage Servicing Rights Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Mortgage Servicing Rights, Beginning Balance	$ 1,126	$ 1,290
Fair Value, Mortgage Servicing Rights, Realized and Unrealized Net Gains (Losses) Included in Net Income	(168)	(164)
Fair Value, Mortgage Servicing Rights, Ending Balance	958	1,126
Fair Value, Mortgage Service Rights, Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Net Derivative Assets and Liabilities, Beginning Balance	22,573	4,416
Fair Value, Net Derivative Assets and Liabilities, Realized and Unrealized Net Gains (Losses) Included in Net Income	22,219	12,138
Fair Value, Net Derivative Assets and Liabilities, Transfers to Loans Held for Sale	(18,681)	(11,776)
Variation margin payments for swap liabilities	51,769	17,795
Fair Value, Net Derivative Assets and Liabilities, Ending Balance	77,880	22,573
Fair Value, Net Derivative Assets and Liabilities,Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held	$ 77,880	$ 22,573

Affordable Housing Projects Tax Credit Partnerships - Expected Payments for Unfunded Affordable Housing Commitments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Affordable Housing Tax Credit Investments, Unfunded Commitment [Abstract]
2021	$ 21,698
2022	6,571
2023	15,588
2024	171
2025	54
Thereafter	8,877
Total Unfunded Commitments	$ 52,959

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Right-of-Use Assets and Lease Liabilities

(dollars in thousands)		December 31, 2020		December 31, 2019
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Operating Lease Right-of-Use Assets	$	99,542	$	100,838
Finance lease right-of-use assets	Premises and Equipment, Net		2,304		2,376
Total Lease Right-of-Use Assets		$	101,846	$	103,214

Lease Liabilities
Operating lease liabilities	Operating Lease Liabilities	$	107,412	$	108,210
Finance lease liabilities	Other Debt		10,481		10,565
Total Lease Liabilities		$	117,893	$	118,775

Schedule of Lease Cost and Other Information

For the Company’s only finance lease, the Company utilized its incremental borrowing rate at lease inception.

	December 31, 2020			December 31, 2019
Weighted-average remaining lease term
Operating leases	17.0 years			16.8 years
Finance leases	32.0 years			33.0 years
Weighted-average discount rate
Operating leases		3.61	%		3.67	%
Finance leases		7.04	%		7.04	%

(dollars in thousands)	2020			2019
Lease Costs
Operating lease cost	$	12,281		$	12,616
Variable lease cost		5,549			3,504
Short-term lease cost		587			591
Finance lease cost
Interest on lease liabilities ¹		741			747
Amortization of right-of-use assets		72			72
Sublease income		(7,804	)		(8,281	)
Net lease cost	$	11,426		$	9,249

Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12,349		$	12,779
Operating cash flows from finance leases		741			747
Financing cash flows from finance leases		84			78
Right-of-use assets obtained in exchange for new operating lease liabilities		11,185			4,101
Right-of-use assets obtained in exchange for new finance lease liabilities		—			—

¹	^{Included in other debt interest expense in the Company’s consolidated statements of income. All other lease costs in this table are included in net occupancy expense.}

Future Minimum Payments for Finance Leases and Operating Leases

Future minimum payments for finance leases and operating leases with initial or remaining terms of one year or more as of December 31, 2020, were as follows:

(dollars in thousands)	Finance Leases			Operating Leases
2021	$	825		$	11,124
2022		825			10,627
2023		825			9,904
2024		825			9,190
2025		825			8,843
Thereafter		22,280			100,371
Total Future Minimum Lease Payments		26,405			150,059
Amounts Representing Interest		(15,924	)		(42,647	)
Present Value of Net Future Minimum Lease Payments	$	10,481		$	107,412

Future Minimum Rental Income under Operating Leases Including Subleases

Future minimum rental income under operating leases, including subleases, as of December 31, 2020, were as follows:

(dollars in thousands)	Minimum Rental Income
2021	$	4,994
2022		4,019
2023		2,761
2024		1,361
2025		699
Thereafter		4,333
Total	$	18,167

Balance Sheet Offsetting

12 Months Ended

Dec. 31, 2020

Offsetting [Abstract]

Balance Sheet Offsetting

Note 19. Balance Sheet Offsetting

Interest Rate Swap Agreements

The Company enters into swap agreements to facilitate the risk management strategies of a small number of commercial banking customers. The Company mitigates the risk of entering into these agreements by entering into equal and offsetting swap agreements with third party financial institutions. The swap agreements are free-standing derivatives and are recorded at fair value in the Company’s consolidated statements of condition (asset positions are included in other assets and liability positions are included in other liabilities). The Company is party to master netting arrangements with its financial institution counterparties; however, the Company does not offset assets and liabilities under these arrangements for financial statement presentation purposes. The master netting arrangements provide for a single net settlement of all swap agreements, as well as collateral, in the event of default on, or termination of, any one contract. Collateral, usually in the form of marketable securities, is posted by the party (i.e., the Company or the financial institution counterparty) with net liability positions in accordance with contract thresholds. The Company had a net liability positions with its financial institution counterparties totaling $17.2 million and $5.1 million as of December 31, 2020, and December 31, 2019, respectively. See Note 17 Derivative Financial Instruments for more information.

Parties to a centrally cleared over-the-counter derivative exchange daily payments that reflect the daily change in value of the derivative. Effective 2017, these payments, commonly referred to as variation margin, will be recorded as settlements of the derivatives’ mark-to-market exposure rather than collateral against the exposures. This rule change effectively results in any centrally cleared derivative having a fair value that approximates zero on a daily basis, and therefore, these swap agreements were not included in the offsetting table at the end of this section. See Note 17 Derivative Financial Instruments for more information.

Securities Sold Under Agreements to Repurchase

The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as sales and subsequent repurchases of securities. The obligation to repurchase the securities is reflected as a liability in the Company’s consolidated statements of condition, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts. As a result, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. In addition, as the Company does not enter into reverse Repurchase Agreements, there is no such offsetting to be done with the repurchase agreements.

The right of setoff for a repurchase agreement resembles a secured borrowing, whereby the collateral pledged by the Company would be used to settle the fair value of the repurchase agreement should the Company be in default (e.g., fail to make an interest payment to the counterparty). For private institution repurchase agreements, if the private institution counterparty were to default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest) and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third party financial institution in the counterparty’s custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri-party agreement. The Company is required by the counterparty to maintain adequate collateral levels. In the event the collateral fair value falls below stipulated levels, the Company will pledge additional securities. The Company closely monitors collateral levels to ensure adequate levels are maintained, while mitigating the potential risk of over-collateralization in the event of counterparty default.

	Remaining Contractual Maturity of Repurchase Agreements
(dollars in thousands)	Up to 90 days		91-365 days		1-3 Years		After 3 Years		Total
December 31, 2020
Class of Collateral Pledged:
Debt Securities Issued by States and Political Subdivisions	$	100	$	—	$	—	$	490	$	590
Mortgage-Backed Securities:
Residential - Government Agencies		—		—		83,599		20,210		103,809
Residential - U.S. Government-Sponsored Enterprises		—		—		491,401		4,790		496,191
Total	$	100	$	—	$	575,000	$	25,490	$	600,590

December 31, 2019
Class of Collateral Pledged:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	—	$	—	$	199,173	$	38,065	$	237,238
Debt Securities Issued by States and Political Subdivisions		1,200		1,100		—		490		2,790
Mortgage-Backed Securities:
Residential - Government Agencies		—		1,516		25,827		88,391		115,734
Residential - U.S. Government-Sponsored Enterprises		—		—		—		248,544		248,544
Total	$	1,200	$	2,616	$	225,000	$	375,490	$	604,306

	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v) = (iii)- (iv)
							Gross Amounts Not Offset in the Statements of Condition
(dollars in thousands)	Gross Amounts Recognized in the Statements of Condition		Gross Amounts Offset in the Statements of Condition		Net Amounts Presented in the Statements of Condition		Netting Adjustments per Master Netting Arrangements		Fair Value of Collateral Pledged ¹		Net Amount
December 31, 2020
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	5	$	—	$	5	$	5	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties		17,202		—		17,202		5		7,911		9,286

Repurchase Agreements:
Private Institutions		600,000		—		600,000		—		600,000		—
Government Entities		590		—		590		—		590		—
Total Repurchase Agreements	$	600,590	$	—	$	600,590	$	—	$	600,590	$	—

December 31, 2019
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	584	$	—	$	584	$	584	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties		5,361		—		5,361		584		3,818		959

Repurchase Agreements:
Private Institutions		600,000		—		600,000		—		600,000		—
Government Entities		4,306		—		4,306		—		4,306		—
Total Repurchase Agreements	$	604,306	$	—	$	604,306	$	—	$	604,306	$	—

Shareholders' Equity - Schedule of Minimum Required Capital Amounts and Ratios for Well Capitalized Institutions and The Actual Capital Amounts and Ratios for The Company and The Bank (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Minimum required capital amounts and ratios for well capitalized institutions and the actual capital amounts [Line Items]
Shareholders’ Equity	$ 1,374,507	$ 1,286,832	$ 1,268,200	$ 1,231,868
Well Capitalized Minimum Common Equity Tier One Ratio (as a percent)	6.50%	6.50%
Well Capitalized Minimum Tier 1 Capital Ratio (as a percent)	8.0	8.0
Well Capitalized Minimum Total Capital Ratio (as a percent)	10.0	10.0
Well Capitalized Minimum Tier 1 Leverage Ratio (as a percent)	5.0	5.0
Parent [Member]
Minimum required capital amounts and ratios for well capitalized institutions and the actual capital amounts [Line Items]
Shareholders’ Equity	$ 1,374,507	$ 1,286,832
Common Equity Tier One Capital	1,361,915	1,289,424
Tier 1 Capital	1,361,915	1,289,424
Total Capital	$ 1,503,784	$ 1,406,273
Common Equity Tier One Capital Ratio	12.06%	12.18%
Tier 1 Capital Ratio (as a percent)	12.06	12.18
Total Capital Ratio (as a percent)	13.31	13.28
Tier 1 Leverage Ratio (as a percent)	6.71	7.25
Subsidiaries [Member]
Minimum required capital amounts and ratios for well capitalized institutions and the actual capital amounts [Line Items]
Shareholders’ Equity	$ 1,290,455	$ 1,229,775
Common Equity Tier One Capital	1,289,435	1,243,939
Tier 1 Capital	1,289,435	1,243,939
Total Capital	$ 1,431,106	$ 1,360,788
Common Equity Tier One Capital Ratio	11.43%	11.76%
Tier 1 Capital Ratio (as a percent)	11.43	11.76
Total Capital Ratio (as a percent)	12.69	12.87
Tier 1 Leverage Ratio (as a percent)	6.35	7.01

Derivative Financial Instruments - Derivative Financial Instruments, their Fair Values, and Balance Sheet Location (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivatives Fair Value [Line Items]
Asset Derivatives	$ 96,167	$ 28,931
Liability Derivatives	18,161	6,377
Interest Rate Lock Commitments
Derivatives Fair Value [Line Items]
Asset Derivatives	4,947	1,280
Liability Derivatives	0	0
Forward Commitments
Derivatives Fair Value [Line Items]
Asset Derivatives	0	23
Liability Derivatives	740	205
Interest Rate Swap Agreements
Derivatives Fair Value [Line Items]
Asset Derivatives	90,342	27,344
Liability Derivatives	17,409	6,051
Foreign Exchange Contracts
Derivatives Fair Value [Line Items]
Asset Derivatives	878	284
Liability Derivatives	$ 12	$ 121

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Capital Surplus	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock
Balance at Beginning of Period at Dec. 31, 2017	$ 1,231,868		$ 576	$ 561,161	$ (34,715)	$ 1,512,218		$ (807,372)
Beginning Balance (in shares) at Dec. 31, 2017			42,401,443
Increase (decrease) in shareholders' equity
Net Income	219,602					219,602
Other Comprehensive Income (Loss)	(8,851)				(8,851)
Reclassification of the Income Tax Effect of the Tax Reform from AOCI to RE					(7,477)	7,477
Share-Based Compensation	8,146			8,146
Common Stock Issued under Purchase and Equity Compensation Plans and Related Tax Benefits	7,919		$ 1	2,397		513		5,008
Common Stock Issued under Purchase and Equity Compensation Plans and Related Tax Benefits (in shares)			219,210
Common Stock Repurchased	(91,988)							(91,988)
Common Stock Repurchased (in shares)			(1,120,755)
Cash Dividends Declared	(98,496)					(98,496)
Balance at End of Period at Dec. 31, 2018	1,268,200		$ 577	571,704	(51,043)	1,641,314		(894,352)
Ending Balance (in shares) at Dec. 31, 2018			41,499,898
Increase (decrease) in shareholders' equity
Net Income	225,913					225,913
Other Comprehensive Income (Loss)	19,931				19,931
Share-Based Compensation	8,337			8,337
Common Stock Issued under Purchase and Equity Compensation Plans and Related Tax Benefits	7,578		$ 2	2,525		(334)		5,385
Common Stock Issued under Purchase and Equity Compensation Plans and Related Tax Benefits (in shares)			212,924
Common Stock Repurchased	(137,649)							(137,649)
Common Stock Repurchased (in shares)			(1,673,127)
Cash Dividends Declared	(105,478)					(105,478)
Balance at End of Period at Dec. 31, 2019	$ 1,286,832	$ 3,632	$ 579	582,566	(31,112)	1,761,415	$ 3,632	(1,026,616)
Ending Balance (in shares) at Dec. 31, 2019	40,039,695		40,039,695
Increase (decrease) in shareholders' equity
Accounting Standards Update Extensible List	us-gaap:AccountingStandardsUpdate201613Member
Net Income	$ 153,804					153,804
Other Comprehensive Income (Loss)	38,934				38,934
Share-Based Compensation	7,577			7,577
Common Stock Issued under Purchase and Equity Compensation Plans and Related Tax Benefits	9,168		$ 1	1,217		562		7,388
Common Stock Issued under Purchase and Equity Compensation Plans and Related Tax Benefits (in shares)			283,482
Common Stock Repurchased	$ (18,006)							(18,006)
Common Stock Repurchased (in shares)	(156,358)		(203,865)
Cash Dividends Declared	$ (107,434)					(107,434)
Balance at End of Period at Dec. 31, 2020	$ 1,374,507		$ 580	$ 591,360	$ 7,822	$ 1,811,979		$ (1,037,234)
Ending Balance (in shares) at Dec. 31, 2020	40,119,312		40,119,312

Balance Sheet Offsetting - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Interest Rate Swap Agreements
Offsetting Assets And Liabilities [Line Items]
Net liability positions, aggregate fair value	$ 17.2	$ 5.1

Other Assets (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Schedule of Other Assets

The components of the Company’s other assets as of December 31, 2020, and December 31, 2019, were as follows:

	December 31,
(dollars in thousands)	2020		2019
Federal Home Loan Bank and Federal Reserve Bank Stock	$	33,340	$	34,093
Derivative Financial Instruments		96,167		28,931
Low-Income Housing and Other Equity Investments		142,961		84,618
Deferred Compensation Plan Assets		53,410		41,464
Prepaid Expenses		14,517		15,140
Accounts Receivable		12,380		20,180
Deferred Tax Assets		16,724		—
Other		65,794		48,248
Total Other Assets	$	435,293	$	272,674

Fair Value of Assets and Liabilities - Additional Information (Details) - Significant Other Unobservable Inputs (Level 3) $ in Millions	Dec. 31, 2020 USD ($) branch	Dec. 31, 2019 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of branches closed \| branch	12
Valuation allowance equipment held for sale	$ 7.0	$ 0.2
Net Occupancy Expense
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Valuation allowance equipment held for sale	3.6
Interest and Fees on Loans and Leases
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Valuation allowance equipment held for sale	3.0
Net Equipment Expense
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Valuation allowance equipment held for sale	$ 0.4

Employee Benefits - Schedule of Assumptions Used to Determine the Benefit Obligations/net Periodic Cost (Details)	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Weighted average assumptions used to determine the benefit obligations
Discount Rate	2.55%	3.36%
Postretirement Benefits
Weighted average assumptions used to determine the benefit obligations
Discount Rate	2.66%	3.42%
Health Care Cost Trend Rate Assumed For Next Year	5.50%	5.70%

Bank of Hawaii Corporation Financial Statements

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Bank of Hawaii Corporation Financial Statements

Note 24. Bank of Hawaii Corporation Financial Statements

Condensed financial statements of the Parent were as follows:

Condensed Statements of Comprehensive Income

	Year Ended December 31,
(dollars in thousands)	2020			2019			2018
Income
Dividends from Bank of Hawaii	$	134,000		$	220,000		$	185,000
Investment Securities Gains (Losses), Net		13,336			(850	)		(819	)
Other Income		154			261			198
Total Income		147,490			219,411			184,379
Noninterest Expense
Intercompany Salaries and Services		758			768			734
Other Expenses		1,864			1,682			1,701
Total Noninterest Expense		2,622			2,450			2,435
Income Before Income Tax Benefit and Equity in Undistributed Income of Subsidiaries		144,868			216,961			181,944
Income Tax Benefit (Expense)		(2,395	)		1,818			2,229
Equity in Undistributed Income of Subsidiaries		11,331			7,134			35,429
Net Income	$	153,804		$	225,913		$	219,602
Comprehensive Income	$	192,738		$	245,844		$	210,751

Condensed Statements of Condition

(dollars in thousands)	December 31, 2020		December 31, 2019
Assets
Cash with Bank of Hawaii	$	66,704	$	37,056
Investment Securities Held-to-Maturity		2,501		4,974
Goodwill		14,129		14,129
Other Assets		12,305		12,401
Equity in Net Assets of Subsidiaries		1,290,455		1,229,775
Total Assets	$	1,386,094	$	1,298,335

Liabilities
Income Taxes Payable	$	974	$	58
Other Liabilities		10,613		11,445
Total Liabilities		11,587		11,503
Shareholders' Equity		1,374,507		1,286,832
Total Liabilities and Shareholders' Equity	$	1,386,094	$	1,298,335

Condensed Statements of Cash Flows

	Year Ended December 31,
(dollars in thousands)	2020			2019			2018
Operating Activities
Net Income	$	153,804		$	225,913		$	219,602
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Share-Based Compensation		795			760			630
Net (Gains) Losses on Sales of Investment Securities		(13,336	)		850			819
Equity in Undistributed Income of Subsidiaries		(11,331	)		(7,134	)		(35,429	)
Net Change in Other Assets and Other Liabilities		(68	)		(135	)		870
Net Cash Provided by Operating Activities		129,864			220,254			186,492

Investing Activities
Proceeds from (Expenses related to) Sales of Investment Securities		18,336			4,259			(819	)
Purchase of Investment Securities Held-to-Maturity		(2,501	)		(4,933	)		—
Net Cash Provided by (Used in) Investing Activities		15,835			(674	)		(819	)

Financing Activities
Proceeds from Issuance of Common Stock		9,389			7,872			7,873
Repurchase of Common Stock		(18,006	)		(137,649	)		(91,988	)
Cash Dividends Paid		(107,434	)		(105,478	)		(98,496	)
Net Cash Used in Financing Activities		(116,051	)		(235,255	)		(182,611	)

Net Change in Cash and Cash Equivalents		29,648			(15,675	)		3,062
Cash and Cash Equivalents at Beginning of Period		37,056			52,731			49,669
Cash and Cash Equivalents at End of Period	$	66,704		$	37,056		$	52,731

Employee Benefits - Additional Information (Details)	12 Months Ended
Employee Benefits - Additional Information (Details)	Dec. 31, 2020 USD ($) d plan yr Component	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of company contribution components, Retirement Savings Plan \| Component	3
Fixed percentage of employer's contribution based on eligible compensation	3.00%
Employee contribution limit per calendar year (as a percent of compensation)	50.00%
Employer match of employee contributions up to 2% of eligible compensation	1.25%
Percentage of eligible compensation, matched $1.25 for by employer for each dollar amount contributed by participants	2.00%
Employer match of employee contributions over 2% up to 5% of eligible compensation	$ 0.50
Employee's contribution matched by employer (in dollars)	$ 1.00
Percentage of eligible compensation, matched $0.50 for by employer for each dollar amount contributed by participants, low end of range	2.00%
Percentage of eligible compensation, matched $0.50 for by employer for each dollar amount contributed by participants, high end of range	5.00%
Total expense for all components of the company's defined contribution plans	$ 14,000,000.0	$ 15,200,000	$ 14,500,000
Effect of market fluctuations in cash flow on target allocation limits (as a percent)	5.00%
Period during which asset allocation is expected to conform to range limits (in days) \| d	90
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Fixed income securities, percentage of variable component in strategic targets (as a percent)	10.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Fixed income securities, percentage of variable component in strategic targets (as a percent)	20.00%
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	60.00%
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	40.00%
Cash \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Effect of market fluctuations in cash flow on target allocation limits (as a percent)	0.00%
Cash \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Effect of market fluctuations in cash flow on target allocation limits (as a percent)	20.00%
Equity Securities, Domestic \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	50.00%
Equity Securities, Domestic \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	100.00%
Equity Securities, International \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	0.00%
Equity Securities, International \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	50.00%
S&P 500 Index
Defined Benefit Plan Disclosure [Line Items]
Performance benchmark (as a percent)	36.00%
MSCI EAFE Index
Defined Benefit Plan Disclosure [Line Items]
Performance benchmark (as a percent)	24.00%
Barclays Capital Aggregate Bond Index
Defined Benefit Plan Disclosure [Line Items]
Performance benchmark (as a percent)	40.00%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit plans \| plan	2
Actuarial Losses (Gains)	$ (10,364,000)	(10,359,000)
Expected future employer contributions, next fiscal year	400,000
Pension Benefits \| Excess Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 3,600,000	3,600,000
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Retirees' age and above which Medicare supplemental plan subsidy is provided (in years) \| yr	65
Limit on annual credit provided in HRA to eligible employees	$ 1,200,000
Actuarial Losses (Gains)	$ (3,559,000)	(4,095,000)
Ultimate health care cost trend rate (as a percent)	4.50%
Expected future employer contributions, next fiscal year	$ 1,200,000
Other Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Actuarial Losses (Gains)	(9,300,000)	(10,800,000)
Postemployment Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Actuarial Losses (Gains)	$ (2,900,000)	$ (3,400,000)

Premises and Equipment - Components of Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Cost	$ 520,825	$ 500,488
Accumulated Depreciation and Amortization	(321,130)	(312,100)
Net Book Value	199,695	188,388
Premises
Property Plant And Equipment [Line Items]
Cost	370,268	360,170
Accumulated Depreciation and Amortization	(237,024)	(235,031)
Net Book Value	133,244	125,139
Equipment
Property Plant And Equipment [Line Items]
Cost	143,964	133,725
Accumulated Depreciation and Amortization	(79,817)	(72,852)
Net Book Value	64,147	60,873
Finance leases
Property Plant And Equipment [Line Items]
Cost	6,593	6,593
Accumulated Depreciation and Amortization	(4,289)	(4,217)
Net Book Value	$ 2,304	$ 2,376

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Net tax charge/(benefit) recorded directly to consolidated shareholders' equity	$ 16,200	$ 7,100	$ 3,200
Valuation allowance	3,597	2,460
Base year reserves included in retained earnings	18,200
Unrecognized deferred federal income tax liability	4,800
Amount related to unrecognized tax benefits that if reversed would impact effective tax rate	5,400	6,100
Accrued interest and penalties related to the liability for unrecognized tax benefits	1,500	1,400
Maximum
Income Tax Contingency [Line Items]
Interest and penalties expense/(benefit) related to the liability for unrecognized tax benefits	$ 100	$ 500	$ 100

Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Details of Short-term Borrowings

Details of the Company’s short-term borrowings (original term of one year or less) as of December 31, 2020, and December 31, 2019 were as follows:

	December 31,
(dollars in thousands)	2020			2019
Securities Sold Under Agreements to Repurchase (short-term)¹
Amounts Outstanding	$	100		$	2,200
Weighted-Average Interest Rate		1.20	%		1.87	%

Loans and Leases and the Allowance for Credit Losses - Schedule of TDRs that Defaulted during Period, within Twelve Months of Modification Date (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) contract	Dec. 31, 2019 USD ($) contract
Financing Receivable Modifications [Line Items]
Number of Contracts, TDRs that Defaulted \| contract	54	64
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 831	$ 1,060
Commercial
Financing Receivable Modifications [Line Items]
Number of Contracts, TDRs that Defaulted \| contract	1
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 27
Commercial \| Commercial and Industrial
Financing Receivable Modifications [Line Items]
Number of Contracts, TDRs that Defaulted \| contract	1
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 27
Consumer
Financing Receivable Modifications [Line Items]
Number of Contracts, TDRs that Defaulted \| contract	53	64
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 804	$ 1,060
Consumer \| Other
Financing Receivable Modifications [Line Items]
Number of Contracts, TDRs that Defaulted \| contract	10	22
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 81	$ 129
Consumer \| Residential Mortgage
Financing Receivable Modifications [Line Items]
Number of Contracts, TDRs that Defaulted \| contract		1
Recorded Investment (as of period ended), TDRs that Defaulted \| $		$ 132
Consumer \| Home Equity
Financing Receivable Modifications [Line Items]
Number of Contracts, TDRs that Defaulted \| contract		1
Recorded Investment (as of period ended), TDRs that Defaulted \| $		$ 192
Consumer \| Automobile
Financing Receivable Modifications [Line Items]
Number of Contracts, TDRs that Defaulted \| contract	43	40
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 723	$ 607

Other Debt - Schedule of Annual Maturities of Other Debt Exclusive of Finance Lease Obligations (Details) - Non-Recourse Debt and Federal Home Loan Bank Advance $ in Thousands	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
2021	$ 0
2022	0
2023	0
2024	50,000
2025	0
Thereafter	0
Total	$ 50,000

Investment Securities - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020 USD ($) shares	Dec. 31, 2020 USD ($) security shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]
Accrued interest receivable		$ 49,303	$ 46,476
Carrying Value Of Investment Securities Pledged		3,600,000	2,600,000	$ 2,300,000
Loss on investment related to reduction in conversion ratio		$ 500	1,000
Number of available for sale debt securities in unrealized loss positions \| security		74
Gross Gains on Sales of Investment Securities		$ 14,257	7,810
Visa Class B Restricted Securities
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]
Conversion ratio		0.016228
Gross Gains on Sales of Investment Securities	$ 14,200
Equity securities remaining, shares \| shares	80,214	0
Available-for-sale Securities
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]
Accrued interest receivable		$ 6,600	7,500
Held-to-maturity Securities
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items]
Accrued interest receivable		$ 6,800	$ 8,100

Shareholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	12 Months Ended			234 Months Ended
	Dec. 31, 2020 USD ($) yr $ / shares shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 USD ($) $ / shares shares
Dividends
Number of prior calendar years considered for payment of dividends in excess of the sum of net income \| yr	2
Common Stock Repurchase Program
Number of shares of common stock repurchased \| shares	156,358			57,100,000
Amount returned to shareholders on stock repurchase	$ 18,006	$ 137,649	$ 91,988	$ 2,300,000
Average cost of shares repurchased (in dollars per share) \| $ / shares	$ 89.32			$ 40.51
Treasury Stock Value Acquired Cost Method Share Repurchase Program	$ 14,000
Accounting Standards Update 2016-13
Class Of Stock [Line Items]
Percentage of allowance for credit losses after-tax	25.00%
Regulatory capital commencing period	Jan. 01, 2022
Percentage of allowance for credit losses pre-tax	25.00%
Percentage of cumulative adjustment to allowance for credit losses	25.00%
Minimum
Class Of Stock [Line Items]
Additional Tier 1 capital ratio	2.5			2.5

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Investment Securities

The amortized cost, gross unrealized gains and losses, and fair value of the Company’s investment securities as of December 31, 2020, December 31, 2019, and December 31, 2018, were as follows:

(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2020
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	174,409	$	427	$	(591	)	$	174,245
Debt Securities Issued by States and Political Subdivisions		23,540		1,301		(1	)		24,840
Debt Securities Issued by U.S. Government-Sponsored Enterprises		985		77		—			1,062
Debt Securities Issued by Corporations		220,717		4,844		(956	)		224,605
Mortgage-Backed Securities:
Residential - Government Agencies		1,561,603		33,657		(445	)		1,594,815
Residential - U.S. Government-Sponsored Enterprises		1,497,353		21,254		(324	)		1,518,283
Commercial - Government Agencies		243,029		10,868		(58	)		253,839
Total Mortgage-Backed Securities		3,301,985		65,779		(827	)		3,366,937
Total	$	3,721,636	$	72,428	$	(2,375	)	$	3,791,689
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	7,500	$	8	$	(8	)	$	7,500
Debt Securities Issued by States and Political Subdivisions		33,763		741		—			34,504
Debt Securities Issued by Corporations		12,031		251		—			12,282
Mortgage-Backed Securities:
Residential - Government Agencies		917,459		30,580		(29	)		948,010
Residential - U.S. Government-Sponsored Enterprises		2,099,053		51,735		(291	)		2,150,497
Commercial - Government Agencies		192,921		3,179		(200	)		195,900
Total Mortgage-Backed Securities		3,209,433		85,494		(520	)		3,294,407
Total	$	3,262,727	$	86,494	$	(528	)	$	3,348,693
December 31, 2019
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	222,365	$	213	$	(1,447	)	$	221,131
Debt Securities Issued by States and Political Subdivisions		54,480		631		(14	)		55,097
Debt Securities Issued by U.S. Government-Sponsored Enterprises		22,128		19		—			22,147
Debt Securities Issued by Corporations		335,553		1,401		(633	)		336,321
Mortgage-Backed Securities:
Residential - Government Agencies		1,164,466		11,627		(3,267	)		1,172,826
Residential - U.S. Government-Sponsored Enterprises		584,272		4,363		(1,874	)		586,761
Commercial - Government Agencies		224,372		2,889		(2,541	)		224,720
Total Mortgage-Backed Securities		1,973,110		18,879		(7,682	)		1,984,307
Total	$	2,607,636	$	21,143	$	(9,776	)	$	2,619,003
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	274,375	$	1,319	$	(31	)	$	275,663
Debt Securities Issued by States and Political Subdivisions		54,811		1,236		—			56,047
Debt Securities Issued by Corporations		14,975		—		(138	)		14,837
Mortgage-Backed Securities:
Residential - Government Agencies		1,067,416		13,247		(5,348	)		1,075,315
Residential - U.S. Government-Sponsored Enterprises		1,546,479		13,871		(2,478	)		1,557,872
Commercial - Government Agencies		84,238		317		(1,407	)		83,148
Total Mortgage-Backed Securities		2,698,133		27,435		(9,233	)		2,716,335
Total	$	3,042,294	$	29,990	$	(9,402	)	$	3,062,882
December 31, 2018
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	394,485	$	493	$	(2,577	)	$	392,401
Debt Securities Issued by States and Political Subdivisions		559,800		5,227		(1,031	)		563,996
Debt Securities Issued by U.S. Government-Sponsored Enterprises		56		—		—			56
Debt Securities Issued by Corporations		224,997		—		(1,857	)		223,140
Mortgage-Backed Securities:
Residential - Government Agencies		189,645		1,726		(929	)		190,442
Residential - U.S. Government-Sponsored Enterprises		589,311		1,779		(12,563	)		578,527
Commercial - Government Agencies		63,864		—		(4,484	)		59,380
Total Mortgage-Backed Securities		842,820		3,505		(17,976	)		828,349
Total	$	2,022,158	$	9,225	$	(23,441	)	$	2,007,942
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	353,122	$	186	$	(1,093	)	$	352,215
Debt Securities Issued by States and Political Subdivisions		234,602		6,150		—			240,752
Debt Securities Issued by Corporations		97,266		—		(1,755	)		95,511
Mortgage-Backed Securities:
Residential - Government Agencies		1,861,874		3,886		(51,773	)		1,813,987
Residential - U.S. Government-Sponsored Enterprises		758,835		1,590		(20,259	)		740,166
Commercial - Government Agencies		176,393		147		(5,177	)		171,363
Total Mortgage-Backed Securities		2,797,102		5,623		(77,209	)		2,725,516
Total	$	3,482,092	$	11,959	$	(80,057	)	$	3,413,994

Analysis of the Contractual Maturities of Investment Securities

(dollars in thousands)	Amortized Cost		Fair Value
Available-for-Sale:
Due in One Year or Less	$	52,461	$	52,378
Due After One Year Through Five Years		46,727		47,767
Due After Five Years Through Ten Years		146,958		151,282
		246,146		251,427
Debt Securities Issued by Government Agencies		173,505		173,325
Mortgage-Backed Securities:
Residential - Government Agencies		1,561,603		1,594,815
Residential - U.S. Government-Sponsored Enterprises		1,497,353		1,518,283
Commercial - Government Agencies		243,029		253,839
Total Mortgage-Backed Securities		3,301,985		3,366,937
Total	$	3,721,636	$	3,791,689
Held-to-Maturity:
Due in One Year or Less	$	33,763	$	34,504
Due After One Year Through Five Years		19,531		19,782
		53,294		54,286
Mortgage-Backed Securities:
Residential - Government Agencies		917,459		948,010
Residential - U.S. Government-Sponsored Enterprises		2,099,053		2,150,497
Commercial - Government Agencies		192,921		195,900
Total Mortgage-Backed Securities		3,209,433		3,294,407
Total	$	3,262,727	$	3,348,693

Schedule of Gains (Losses) on Sales of Investment Securities

The table below presents the gains and losses from the sales of investment securities for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

(dollars in thousands)	2020			2019			2018
Gross Gains on Sales of Investment Securities	$	14,257		$	7,810		$	—
Gross Losses on Sales of Investment Securities		(4,325	)		(11,796	)		(3,938	)
Net Gains (Losses) on Sales of Investment Securities	$	9,932		$	(3,986	)	$	(3,938	)

Schedule of AFS Debt Securities in an Unrealized Loss Position

	Less Than 12 Months					12 Months or Longer					Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
December 31, 2020
Available-for-Sales:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	87,070	$	(549	)	$	21,338	$	(42	)	$	108,408	$	(591	)
Debt Securities Issued by States and Political Subdivisions		26		(1	)		—		—			26		(1	)
Debt Securities Issued by Corporations		50,000		(103	)		65,000		(853	)		115,000		(956	)
Mortgage-Backed Securities:
Residential - Government Agencies		28,063		(223	)		113,538		(222	)		141,601		(445	)
Residential - U.S. Government-Sponsored Enterprises		—		—			94,002		(324	)		94,002		(324	)
Commercial - Government Agencies		—		—			25,075		(58	)		25,075		(58	)
Total Mortgage-Backed Securities		28,063		(223	)		232,615		(604	)		260,678		(827	)
Total	$	165,159	$	(876	)	$	318,953	$	(1,499	)	$	484,112	$	(2,375	)
December 31, 2019
Available-for-Sales:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	65,479	$	(188	)	$	101,761	$	(1,259	)	$	167,240	$	(1,447	)
Debt Securities Issued by States and Political Subdivisions		6,788		(14	)		440		—			7,228		(14	)
Debt Securities Issued by Corporations		25,892		(326	)		74,693		(307	)		100,585		(633	)
Mortgage-Backed Securities:
Residential - Government Agencies		119,271		(526	)		170,805		(2,741	)		290,076		(3,267	)
Residential - U.S. Government-Sponsored Enterprises		187,861		(816	)		73,720		(1,058	)		261,581		(1,874	)
Commercial - Government Agencies		59,826		(319	)		52,965		(2,222	)		112,791		(2,541	)
Total Mortgage-Backed Securities		366,958		(1,661	)		297,490		(6,021	)		664,448		(7,682	)
Total	$	465,117	$	(2,189	)	$	474,384	$	(7,587	)	$	939,501	$	(9,776	)

Schedule of Interest Income from Taxable and Non-taxable Investment Securities

Interest income from taxable and non-taxable investment securities for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, were as follows:

	Year Ended December 31,
(dollars in thousands)	2020		2019		2018
Taxable	$	125,291	$	137,204	$	115,947
Non-Taxable		2,058		6,586		18,515
Total Interest Income from Investment Securities	$	127,349	$	143,790	$	134,462

Schedule of Carrying Value of Federal Home Loan Bank of Des Moines Stock and Federal Reserve Bank Stock

As of December 31, 2020, and December 31, 2019, the carrying value of the Company’s Federal Home Loan Bank of Des Moines (“FHLB Des Moines”) stock and Federal Reserve Bank stock was as follows:

	December 31,
(dollars in thousands)	2020		2019
Federal Home Loan Bank Stock	$	12,000	$	13,000
Federal Reserve Bank Stock		21,340		21,093
Total	$	33,340	$	34,093

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of the Notional Amount and Fair Value of the Derivative Financial Instruments

The notional amount and fair value of the Company’s derivative financial instruments as of December 31, 2020, and December 31, 2019, were as follows:

	December 31, 2020					December 31, 2019
(dollars in thousands)	Notional Amount		Fair Value			Notional Amount		Fair Value
Interest Rate Lock Commitments	$	102,881	$	4,947		$	48,677	$	1,280
Forward Commitments		158,759		(740	)		82,735		(182	)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,362,778		90,130			802,389		26,070
Pay Fixed/Receive Variable Swaps		1,362,778		(17,197	)		802,389		(4,777	)
Foreign Exchange Contracts		90,587		866			85,499		163
Conversion Rate Swap Agreement		133,286		—			114,499		—

Derivative Financial Instruments, their Fair Values, and Balance Sheet Location

	December 31, 2020				December 31, 2019
Derivative Financial Instruments Not Designated as Hedging Instruments ¹ (dollars in thousands)	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
Interest Rate Lock Commitments	$	4,947	$	—	$	1,280	$	—
Forward Commitments		—		740		23		205
Interest Rate Swap Agreements		90,342		17,409		27,344		6,051
Foreign Exchange Contracts		878		12		284		121
Total	$	96,167	$	18,161	$	28,931	$	6,377

¹	Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition.

Derivative Financial Instruments and the Amount and Location of the Net Gains or Losses Recognized in the Statements of Income

	Location of Net Gains	Year Ended December 31,
Derivative Financial Instruments Not Designated as Hedging Instruments (dollars in thousands)	(Losses)Recognized in the Statements of Income	2020			2019			2018
Interest Rate Lock Commitments	Mortgage Banking	$	22,348		$	12,185		$	3,534
Forward Commitments	Mortgage Banking		(4,274	)		(2,340	)		821
Interest Rate Swap Agreements	Other Noninterest Income		15,468			7,172			1,835
Foreign Exchange Contracts	Other Noninterest Income		1,940			2,891			3,163
Conversion Rate Swap Agreement	Investment Securities Gains (Losses), Net		—			(453	)		(1,000	)
Total		$	35,482		$	19,455		$	8,353

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959

+ Details

Restrictions on Cash and Cash and Cash Equivalents - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Cash And Cash Equivalents [Abstract]
Required Minimum Average Cash Reserve Maintained with Federal Reserve Bank	$ 0	$ 68,400,000

Leases - Future Minimum Rental Income under Operating Leases Including Subleases (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 4,994
2022	4,019
2023	2,761
2024	1,361
2025	699
Thereafter	4,333
Total	$ 18,167

Employee Benefits - Schedule of Assumptions Used in Calculation Net Periodic Benefit Cost (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Weighted average assumptions used to determine the net periodic benefit cost
Discount Rate	3.36%	4.41%	3.90%
Expected Long-Term Rate of Return on Plan Assets	5.75%	5.75%	5.75%
Health Care Cost Trend Rate	0.00%	0.00%	0.00%
Postretirement Benefits
Weighted average assumptions used to determine the net periodic benefit cost
Discount Rate	3.42%	4.48%	3.96%
Expected Long-Term Rate of Return on Plan Assets	0.00%	0.00%	0.00%
Health Care Cost Trend Rate	5.70%	6.00%	6.30%

Fair Value of Assets and Liabilities - Schedule of Difference between Aggregate Fair Value and Aggregate Unpaid Principal Balance (Details) - Residential mortgage loans held for sale - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Option Quantitative Disclosures [Line Items]
Aggregate Fair Value	$ 82,565	$ 39,062
Aggregate Unpaid Principal	78,577	38,293
Aggregate Fair Value Less Aggregate Unpaid Principal	$ 3,988	$ 769

Restrictions on Cash and Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2020

Cash And Cash Equivalents [Abstract]

Restrictions on Cash and Cash and Cash Equivalents

Note 2. Restrictions on Cash and Cash and Cash Equivalents

The Company is required to maintain cash on hand or on deposit with the Federal Reserve Bank based on the amount of certain customer deposits, mainly checking accounts. There was no required reserve balance as of December 31, 2020. The Bank’s average required reserve balances was $68.4 million as of December 31, 2019.

(dollars in thousands)	December 31, 2020		December 31, 2019
Interest-Bearing Deposits in Other Banks	$	1,646	$	4,979
Funds Sold		333,022		254,574
Cash and Due From Banks		279,420		299,105
Total Cash and Cash Equivalents	$	614,088	$	558,658

Loans and Leases and the Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2020

Loans And Leases And Allowance For Loan And Lease Losses [Abstract]

Schedule of Loan and Lease Portfolio

The Company’s loan and lease portfolio was comprised of the following as of December 31, 2020, and December 31, 2019:

	December 31,
(dollars in thousands)	2020		2019
Commercial
Commercial and Industrial	$	1,875,293	$	1,379,152
Commercial Mortgage		2,854,829		2,518,051
Construction		259,798		194,170
Lease Financing		110,766		122,454
Total Commercial		5,100,686		4,213,827
Consumer
Residential Mortgage		4,130,513		3,891,100
Home Equity		1,604,538		1,676,073
Automobile		708,800		720,286
Other ¹		395,483		489,606
Total Consumer		6,839,334		6,777,065
Total Loans and Leases	$	11,940,020	$	10,990,892

¹	Comprised of other revolving credit, installment, and lease financing.

Schedule of Activity in Allowance by Portfolio Segment

The following presents by portfolio segment, the activity in the Allowance for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

(dollars in thousands)	Commercial			Consumer			Total
For the Year Ended December 31, 2020
Allowance for Credit Losses:
Balance at Beginning of Period (December 31, 2019)	$	73,801		$	36,226		$	110,027
CECL Adoption (Day 1) Impact		(18,789	)		17,052			(1,737	)
Balance at Beginning of Period (January 1, 2020)		55,012			53,278			108,290
Loans and Leases Charged-Off		(1,697	)		(19,341	)		(21,038	)
Recoveries on Loans and Leases Previously Charged-Off		2,328			11,572			13,900
Net Loans and Leases Recovered (Charged-Off)		631			(7,769	)		(7,138	)
Provision for Credit Losses		29,204			85,896			115,100
Balance at End of Period	$	84,847		$	131,405		$	216,252

For the Year Ended December 31, 2019
Allowance for Credit Losses:
Balance at Beginning of Period	$	66,874		$	39,819		$	106,693
Loans and Leases Charged-Off		(2,738	)		(21,217	)		(23,955	)
Recoveries on Loans and Leases Previously Charged-Off		1,513			9,776			11,289
Net Loans and Leases Recovered (Charged-Off)		(1,225	)		(11,441	)		(12,666	)
Provision for Credit Losses		8,152			7,848			16,000
Balance at End of Period	$	73,801		$	36,226		$	110,027

For the Year Ended December 31, 2018
Allowance for Credit Losses:
Balance at Beginning of Period	$	65,822		$	41,524		$	107,346
Loans and Leases Charged-Off		(1,505	)		(23,059	)		(24,564	)
Recoveries on Loans and Leases Previously Charged-Off		2,039			8,447			10,486
Net Loans and Leases Recovered (Charged-Off)		534			(14,612	)		(14,078	)
Provision for Credit Losses		518			12,907			13,425
Balance at End of Period	$	66,874		$	39,819		$	106,693

Schedule of Recorded Investment in Loans and Leases by Class and Credit Quality Indicator

The following presents by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of December 31, 2020.

		Term Loans by Origination Year
(dollars in thousands)	2020			2019		2018		2017		2016		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total Loans and Leases
December 31, 2020
Commercial
Commercial and Industrial
Pass		$	944,463	$	149,024	$	149,468	$	49,385	$	52,354	$	68,269	$	342,339	$	847	$	1,756,149
Special Mention			11,702		42		-		-		110		95		32,319		52		44,320
Classified			32,208		1,734		2,266		777		19		19,166		18,529		125		74,824
Total Commercial and Industrial		$	988,373	$	150,800	$	151,734	$	50,162	$	52,483	$	87,530	$	393,187	$	1,024	$	1,875,293
Commercial Mortgage
Pass		$	847,676	$	458,472	$	350,363	$	245,157	$	267,860	$	425,157	$	76,869	$	-	$	2,671,554
Special Mention			66,523		28,418		291		7,117		8,665		5,035		-		-		116,049
Classified			49,640		655		2,783		274		4,742		9,132		-		-		67,226
Total Commercial Mortgage		$	963,839	$	487,545	$	353,437	$	252,548	$	281,267	$	439,324	$	76,869	$	-	$	2,854,829
Construction
Pass		$	106,508	$	105,731	$	11,275	$	8,133	$	-	$	-	$	28,151	$	-	$	259,798
Total Construction		$	106,508	$	105,731	$	11,275	$	8,133	$	-	$	-	$	28,151	$	-	$	259,798
Lease Financing
Pass		$	19,906	$	20,132	$	13,785	$	4,202	$	9,657	$	41,755	$	-	$	-	$	109,437
Classified			33		67		1,092		42		95		-		-		-		1,329
Total Lease Financing		$	19,939	$	20,199	$	14,877	$	4,244	$	9,752	$	41,755	$	-	$	-	$	110,766
Total Commercial		$	2,078,659	$	764,275	$	531,323	$	315,087	$	343,502	$	568,609	$	498,207	$	1,024	$	5,100,686
Consumer
Residential Mortgage
Pass		$	1,300,831	$	576,452	$	295,522	$	454,165	$	545,798	$	954,120	$	-	$	-	$	4,126,888
Classified			-		294		-		1,032		-		2,299		-		-		3,625
Total Residential Mortgage		$	1,300,831	$	576,746	$	295,522	$	455,197	$	545,798	$	956,419	$	-	$	-	$	4,130,513
Home Equity
Pass		$	-	$	-	$	-	$	-	$	-	$	4,449	$	1,556,671	$	37,559	$	1,598,679
Classified			-		-		-		-		-		88		4,693		1,078		5,859
Total Home Equity		$	-	$	-	$	-	$	-	$	-	$	4,537	$	1,561,364	$	38,637	$	1,604,538
Automobile
Pass		$	219,218	$	213,914	$	158,216	$	68,776	$	33,899	$	13,850	$	-	$	-	$	707,873
Classified			101		245		171		113		161		136		-		-		927
Total Automobile		$	219,319	$	214,159	$	158,387	$	68,889	$	34,060	$	13,986	$	-	$	-	$	708,800
Other¹
Pass		$	71,042	$	145,549	$	92,993	$	39,770	$	9,225	$	2,189	$	32,070	$	1,485	$	394,323
Classified			51		419		375		167		42		21		85		-		1,160
Total Other		$	71,093	$	145,968	$	93,368	$	39,937	$	9,267	$	2,210	$	32,155	$	1,485	$	395,483
Total Consumer		$	1,591,243	$	936,873	$	547,277	$	564,023	$	589,125	$	977,152	$	1,593,519	$	40,122	$	6,839,334
Total Loans and Leases		$	3,669,902	$	1,701,148	$	1,078,600	$	879,110	$	932,627	$	1,545,761	$	2,091,726	$	41,146	$	11,940,020

¹	Comprised of other revolving credit, installment, and lease financing.

The following presents by loan class and credit quality indicator, the recorded investment in the Company’s loans and leases as of December 31, 2019.

	December 31, 2019
(dollars in thousands)	Commercial and Industrial		Commercial Mortgage		Construction		Lease Financing		Total Commercial
Pass	$	1,306,040	$	2,463,858	$	188,832	$	120,933	$	4,079,663
Special Mention		37,722		16,453		4,148		—		58,323
Classified		35,390		37,740		1,190		1,521		75,841
Total	$	1,379,152	$	2,518,051	$	194,170	$	122,454	$	4,213,827

(dollars in thousands)	Residential Mortgage		Home Equity		Automobile		Other ¹		Total Consumer
Pass	$	3,886,389	$	1,671,468	$	719,337	$	488,113	$	6,765,307
Classified		4,711		4,605		949		1,493		11,758
Total	$	3,891,100	$	1,676,073	$	720,286	$	489,606	$	6,777,065
Total Recorded Investment in Loans and Leases									$	10,990,892

¹	Comprised of other revolving credit, installment, and lease financing.

Schedule of Aging Analysis by Class of Loan and Lease Portfolio

The following presents by class, an aging analysis of the Company’s loan and lease portfolio as of December 31, 2020, and December 31, 2019.

(dollars in thousands)	30 - 59 Days Past Due		60 - 89 Days Past Due		Past Due 90 Days or More		Non- Accrual		Total Past Due and Non- Accrual		Current		Total Loans and Leases		Non- Accrual Loans and Leases that are Current ²
As of December 31, 2020
Commercial
Commercial and Industrial	$	191	$	59	$	—	$	441	$	691	$	1,874,602	$	1,875,293	$	285
Commercial Mortgage		—		—		—		8,527		8,527		2,846,302		2,854,829		4,983
Construction		—		—		—		—		—		259,798		259,798		—
Lease Financing		—		—		—		—		—		110,766		110,766		—
Total Commercial		191		59		—		8,968		9,218		5,091,468		5,100,686		5,268
Consumer
Residential Mortgage		4,049		2,083		5,274		3,223		14,629		4,115,884		4,130,513		2,100
Home Equity		3,423		3,378		3,187		3,958		13,946		1,590,592		1,604,538		987
Automobile		6,358		2,215		925		—		9,498		699,302		708,800		—
Other ¹		2,556		1,612		1,160		—		5,328		390,155		395,483		—
Total Consumer		16,386		9,288		10,546		7,181		43,401		6,795,933		6,839,334		3,087
Total	$	16,577	$	9,347	$	10,546	$	16,149	$	52,619	$	11,887,401	$	11,940,020	$	8,355

As of December 31, 2019
Commercial
Commercial and Industrial	$	12,534	$	148	$	—	$	830	$	13,512	$	1,365,640	$	1,379,152	$	421
Commercial Mortgage		2,998		—		—		9,244		12,242		2,505,809		2,518,051		9,244
Construction		101		51		—		—		152		194,018		194,170		—
Lease Financing		720		—		—		—		720		121,734		122,454		—
Total Commercial		16,353		199		—		10,074		26,626		4,187,201		4,213,827		9,665
Consumer
Residential Mortgage		6,097		2,070		1,839		4,125		14,131		3,876,969		3,891,100		1,429
Home Equity		3,949		2,280		4,125		3,181		13,535		1,662,538		1,676,073		412
Automobile		16,067		4,154		949		—		21,170		699,116		720,286		—
Other ¹		3,498		2,074		1,493		—		7,065		482,541		489,606		—
Total Consumer		29,611		10,578		8,406		7,306		55,901		6,721,164		6,777,065		1,841
Total	$	45,964	$	10,777	$	8,406	$	17,380	$	82,527	$	10,908,365	$	10,990,892	$	11,506

¹	Comprised of other revolving credit, installment, and lease financing.

²	Represents non-accrual loans that are not past due 30 days or more; however, full payment of principal and interest is still not expected.

Schedule of Non-Accrual Loans and Leases

The following presents the non-accrual loans and leases as of December 31, 2020, and December 31, 2019.

	December 31, 2020						December 31, 2019
(dollars in thousands)	Non-accrual loans with a related ACL		Non-accrual loans without a related ACL		Total Non-accrual loans		Total Non-accrual loans
Impaired Loans with No Related Allowance Recorded:
Commercial
Commercial and Industrial	$	441	$	—	$	441	$	830
Commercial Mortgage		8,527		—		8,527		9,244
Total Commercial		8,968		—		8,968		10,074
Consumer
Residential Mortgage		3,096		127		3,223		4,125
Home Equity		3,958		—		3,958		3,181
Total Consumer		7,054		127		7,181		7,306
Total	$	16,022	$	127	$	16,149	$	17,380

Schedule of Loans Modified in TDR and TDRs that Defaulted During the Period Within 12 months of Modification Date

The following presents by class, information related to loans modified in a TDR during the years ended December 31, 2020, and December 31, 2019.

	Loans Modified as a TDR for the Year Ended December 31, 2020						Loans Modified as a TDR for the Year Ended December 31, 2019
Troubled Debt Restructurings (dollars in thousands)	Number of Contracts		Recorded Investment (as of period end) ¹		Increase in Allowance (as of period end)		Number of Contracts		Recorded Investment (as of period end) ¹		Increase in Allowance (as of period end)
Commercial
Commercial and Industrial		5	$	203	$	5		8	$	17,585	$	2,465
Commercial Mortgage		1		1,046		60		1		3,623		—
Total Commercial		6		1,249		65		9		21,208		2,465
Consumer
Residential Mortgage		—		—		—		1		57		—
Home Equity		10		1,246		8		4		368		9
Automobile		352		7,541		112		332		5,911		73
Other ²		180		1,850		77		95		572		17
Total Consumer		542		10,637		197		432		6,908		99
Total		548	$	11,886	$	262		441	$	28,116	$	2,564

¹	The period end balances reflect all partial paydowns and charge-offs since the modification date. TDRs fully paid off, charged off, or foreclosed upon by period end are not included.

²	Comprised of other revolving credit and installment financing.

The following presents by class, loans modified in a TDR that defaulted during the year ended December 31, 2020, and December 31, 2019, and within twelve months of their modification date. A TDR is considered to be in default once it becomes 60 days or more past due following a modification.

	Year Ended December 31, 2020				Year Ended December 31, 2019
TDRs that Defaulted During the Period, Within Twelve Months of their Modification Date (dollars in thousands)	Number of Contracts		Recorded Investment (as of period end)¹		Number of Contracts		Recorded Investment (as of period end) ¹
Commercial
Commercial and Industrial		1	$	27		—	$	—
Total Commercial		1		27		—		—
Consumer
Residential Mortgage		—		—		1		132
Home Equity		—		—		1		192
Automobile		43		723		40		607
Other ²		10		81		22		129
Total Consumer		53		804		64		1,060
Total		54	$	831		64	$	1,060

¹	The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid off, charged off, or foreclosed upon by period end are not included.

²	Comprised of other revolving credit and installment financing.

Investment Securities - Schedule of Interest Income From Taxable and Non-Taxable Investment Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Taxable	$ 125,291	$ 137,204	$ 115,947
Non-Taxable	2,058	6,586	18,515
Total Interest Income from Investment Securities	$ 127,349	$ 143,790	$ 134,462

Investment Securities - Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Available-for-Sale:
Available-for-Sale: Amortized Cost	$ 3,721,636	$ 2,607,636	$ 2,022,158
Available-for-Sale: Gross Unrealized Gains	72,428	21,143	9,225
Available-for-Sale: Gross Unrealized Losses	(2,375)	(9,776)	(23,441)
Available-for-Sale: Fair Value	3,791,689	2,619,003	2,007,942
Held-to-Maturity:
Held-to-Maturity: Amortized Cost	3,262,727	3,042,294	3,482,092
Held-to-Maturity: Gross Unrealized Gains	86,494	29,990	11,959
Held-to-Maturity: Gross Unrealized Losses	(528)	(9,402)	(80,057)
Held-to-Maturity: Fair Value	3,348,693	3,062,882	3,413,994
Debt Securities Issued by the U.S. Treasury and Government Agencies
Available-for-Sale:
Available-for-Sale: Amortized Cost	174,409	222,365	394,485
Available-for-Sale: Gross Unrealized Gains	427	213	493
Available-for-Sale: Gross Unrealized Losses	(591)	(1,447)	(2,577)
Available-for-Sale: Fair Value	174,245	221,131	392,401
Held-to-Maturity:
Held-to-Maturity: Amortized Cost	7,500	274,375	353,122
Held-to-Maturity: Gross Unrealized Gains	8	1,319	186
Held-to-Maturity: Gross Unrealized Losses	(8)	(31)	(1,093)
Held-to-Maturity: Fair Value	7,500	275,663	352,215
Debt Securities Issued by States and Political Subdivisions
Available-for-Sale:
Available-for-Sale: Amortized Cost	23,540	54,480	559,800
Available-for-Sale: Gross Unrealized Gains	1,301	631	5,227
Available-for-Sale: Gross Unrealized Losses	(1)	(14)	(1,031)
Available-for-Sale: Fair Value	24,840	55,097	563,996
Held-to-Maturity:
Held-to-Maturity: Amortized Cost	33,763	54,811	234,602
Held-to-Maturity: Gross Unrealized Gains	741	1,236	6,150
Held-to-Maturity: Fair Value	34,504	56,047	240,752
Debt Securities Issued by Government-Sponsored Enterprises
Available-for-Sale:
Available-for-Sale: Amortized Cost	985	22,128	56
Available-for-Sale: Gross Unrealized Gains	77	19	0
Available-for-Sale: Gross Unrealized Losses	0	0	0
Available-for-Sale: Fair Value	1,062	22,147	56
Debt Securities Issued by Corporations
Available-for-Sale:
Available-for-Sale: Amortized Cost	220,717	335,553	224,997
Available-for-Sale: Gross Unrealized Gains	4,844	1,401	0
Available-for-Sale: Gross Unrealized Losses	(956)	(633)	(1,857)
Available-for-Sale: Fair Value	224,605	336,321	223,140
Held-to-Maturity:
Held-to-Maturity: Amortized Cost	12,031	14,975	97,266
Held-to-Maturity: Gross Unrealized Gains	251
Held-to-Maturity: Gross Unrealized Losses		(138)	(1,755)
Held-to-Maturity: Fair Value	12,282	14,837	95,511
Residential - Government Agencies
Available-for-Sale:
Available-for-Sale: Amortized Cost	1,561,603	1,164,466	189,645
Available-for-Sale: Gross Unrealized Gains	33,657	11,627	1,726
Available-for-Sale: Gross Unrealized Losses	(445)	(3,267)	(929)
Available-for-Sale: Fair Value	1,594,815	1,172,826	190,442
Held-to-Maturity:
Held-to-Maturity: Amortized Cost	917,459	1,067,416	1,861,874
Held-to-Maturity: Gross Unrealized Gains	30,580	13,247	3,886
Held-to-Maturity: Gross Unrealized Losses	(29)	(5,348)	(51,773)
Held-to-Maturity: Fair Value	948,010	1,075,315	1,813,987
Residential - U.S. Government-Sponsored Enterprises
Available-for-Sale:
Available-for-Sale: Amortized Cost	1,497,353	584,272	589,311
Available-for-Sale: Gross Unrealized Gains	21,254	4,363	1,779
Available-for-Sale: Gross Unrealized Losses	(324)	(1,874)	(12,563)
Available-for-Sale: Fair Value	1,518,283	586,761	578,527
Held-to-Maturity:
Held-to-Maturity: Amortized Cost	2,099,053	1,546,479	758,835
Held-to-Maturity: Gross Unrealized Gains	51,735	13,871	1,590
Held-to-Maturity: Gross Unrealized Losses	(291)	(2,478)	(20,259)
Held-to-Maturity: Fair Value	2,150,497	1,557,872	740,166
Commercial - Government Agencies
Available-for-Sale:
Available-for-Sale: Amortized Cost	243,029	224,372	63,864
Available-for-Sale: Gross Unrealized Gains	10,868	2,889	0
Available-for-Sale: Gross Unrealized Losses	(58)	(2,541)	(4,484)
Available-for-Sale: Fair Value	253,839	224,720	59,380
Held-to-Maturity:
Held-to-Maturity: Amortized Cost	192,921	84,238	176,393
Held-to-Maturity: Gross Unrealized Gains	3,179	317	147
Held-to-Maturity: Gross Unrealized Losses	(200)	(1,407)	(5,177)
Held-to-Maturity: Fair Value	195,900	83,148	171,363
Mortgage-Backed Securities
Available-for-Sale:
Available-for-Sale: Amortized Cost	3,301,985	1,973,110	842,820
Available-for-Sale: Gross Unrealized Gains	65,779	18,879	3,505
Available-for-Sale: Gross Unrealized Losses	(827)	(7,682)	(17,976)
Available-for-Sale: Fair Value	3,366,937	1,984,307	828,349
Held-to-Maturity:
Held-to-Maturity: Amortized Cost	3,209,433	2,698,133	2,797,102
Held-to-Maturity: Gross Unrealized Gains	85,494	27,435	5,623
Held-to-Maturity: Gross Unrealized Losses	(520)	(9,233)	(77,209)
Held-to-Maturity: Fair Value	$ 3,294,407	$ 2,716,335	$ 2,725,516

Income Taxes - Schedule of Significant Components of the Company's Deferred Tax Liabilities and Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Liabilities:
Accelerated Depreciation	$ (8,042)	$ (4,064)
Accrued Pension Cost	(11,270)	(11,270)
Federal Home Loan Bank Stock	(3,416)	(3,416)
Lease Transactions	(41,726)	(48,487)
Operating Lease Right-of-Use Assets	(26,387)	(26,731)
Energy Tax Credits	(674)	(2,370)
Net Unrealized Gains on Investments Securities	(18,407)	(2,751)
Investment in Variable Interest Entities	(2,725)	(3,783)
Deferred Loan Fees	(4,736)	(6,498)
Originated Mortgage Servicing Rights	(5,579)	(6,840)
Other	(1,124)	(1,597)
Gross Deferred Tax Liabilities	(124,086)	(117,807)
Deferred Tax Assets:
Allowance for Credit Losses	57,840	30,951
Minimum Pension Liability	13,430	13,980
Accrued Expenses	17,629	18,159
Postretirement Benefit Obligations	7,980	8,130
Capital Lease Expenses	2,168	2,171
Operating Lease Liabilities	28,473	28,685
Restricted Stock	3,669	4,369
Deductible State and Local Taxes	3,366	3,558
Low Income Housing Investments	3,648	2,157
Other	6,204	6,236
Gross Deferred Tax Assets Before Valuation Allowance	144,407	118,396
Valuation Allowance	(3,597)	(2,460)
Gross Deferred Tax Assets After Valuation Allowance	140,810	115,936
Net Deferred Tax Assets (Liabilities)	$ 16,724
Net Deferred Tax Assets (Liabilities)		$ (1,871)

Revenue Recognition

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Revenue Recognition

Note 22. Revenue Recognition

On January 1, 2018, the Company adopted ASU No. 2014-09 “Revenue from Contracts with Customers” (Topic 606) and all subsequent ASUs that modified Topic 606. As stated in Note 1 Summary of Significant Accounting Policies, the implementation of the new standard did not have a material impact on the measurement or recognition of revenue; as such, a cumulative effect adjustment to opening retained earnings was not deemed necessary. Results for reporting periods beginning after January 1, 2018, are presented under Topic 606, while prior period amounts were not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 605.

Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities, which comprise the majority of the Company’s revenue. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, and derivatives are also not in the scope of the new guidance. Topic 606 is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope of Topic 606 are discussed below.

Trust and Asset Management

Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. Optional services such as real estate sales and tax return preparation services are also available to existing trust and asset management customers. The Company’s performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered.

Service Charges on Deposit Accounts

Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts.

Fees, Exchange, and Other Service Charges

Fees, exchange, and other service charges are primarily comprised of debit card income, ATM fees, merchant services income, credit card commissions and other service charges. Debit card income is primarily comprised of interchange fees earned whenever the Company’s debit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Credit card commissions related to the Company’s co-branded credit cards with Hawaiian Airlines are primarily earned through card customer spending and new card account openings. Other service charges include revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month.

Annuity and Insurance

Annuity and insurance income primarily consists of commissions received on annuity product sales. The Company acts as an intermediary between the Company’s customer and the insurance carrier. The Company’s performance obligation is generally satisfied upon the issuance of the annuity policy. Shortly after the policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. The Company does not earn a significant amount of trailer fees on annuity sales. The majority of the trailer fees relates to variable annuity products and are calculated based on a percentage of market value at period end. Revenue is not recognized until the annuity’s market value can be determined.

Other

Other noninterest income consists of other recurring revenue streams such as commissions from sales of mutual funds and other investments, investment advisor fees from the Company’s Managed Account Platform Services (“MAPS”) wealth management product, safety deposit box rental fees, and other miscellaneous revenue streams. Commissions from the sale of mutual funds and other investments are recognized on trade date, which is when the Company has satisfied its performance obligation. The Company also receives periodic service fees (i.e., trailers) from mutual fund companies typically based on a percentage of net asset value. Trailer revenue is recorded over time, usually monthly or quarterly, as net asset value is determined. Investment advisor fees from the MAPS wealth management product is earned over time and based on an annual percentage rate of the net asset value. The investment advisor fees are charged to the customer’s account in advance on the first month of the quarter, and the revenue is recognized over the following three-month period. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation.

The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

	Year Ended December 31,
(dollars in thousands)	2020		2019		2018
Noninterest Income
In-scope of Topic 606:
Trust and Asset Management	$	43,456	$	44,233	$	43,877
Service Charges on Deposit Accounts		11,715		13,042		13,165
Fees, Exchange, and Other Service Charges		36,005		46,381		46,350
Annuity and Insurance		3,249		6,813		5,615
Other		8,626		9,633		9,652
Noninterest Income (in-scope of Topic 606)		103,051		120,102		118,659
Noninterest Income (out-of-scope of Topic 606)		81,358		63,236		50,264
Total Noninterest Income	$	184,409	$	183,338	$	168,923

Contract Balances

A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of December 31, 2020 and December 31, 2019, the Company did not have any significant contract balances.

Contract Acquisition Costs

In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition cost.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Employee Benefits - Schedule of Expected Benefits to be Paid in Each of the Next Five Years and in the Aggregate for the Five Years Thereafter (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Pension Benefits
Expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter
2021	$ 7,305
2022	7,327
2023	7,314
2024	7,314
2025	7,287
Years 2026-2030	34,860
Postretirement Benefits
Expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter
2021	1,196
2022	1,235
2023	1,321
2024	1,388
2025	1,511
Years 2026-2030	$ 9,324

Loans and Leases and the Allowance for Credit Losses

12 Months Ended

Dec. 31, 2020

Loans And Leases And Allowance For Loan And Lease Losses [Abstract]

Loans and Leases and the Allowance for Credit Losses

Note 4. Loans and Leases and the Allowance for Credit Losses

Loans and Leases

The Company’s loan and lease portfolio was comprised of the following as of December 31, 2020, and December 31, 2019:

	December 31,
(dollars in thousands)	2020		2019
Commercial
Commercial and Industrial	$	1,875,293	$	1,379,152
Commercial Mortgage		2,854,829		2,518,051
Construction		259,798		194,170
Lease Financing		110,766		122,454
Total Commercial		5,100,686		4,213,827
Consumer
Residential Mortgage		4,130,513		3,891,100
Home Equity		1,604,538		1,676,073
Automobile		708,800		720,286
Other ¹		395,483		489,606
Total Consumer		6,839,334		6,777,065
Total Loans and Leases	$	11,940,020	$	10,990,892

¹	Comprised of other revolving credit, installment, and lease financing.

Total loans and leases were reported net of unearned fee of $4.1 million and income of $1.3 million as of December 31, 2020 and December 31, 2019, respectively.

Commercial loans and residential mortgage loans of $805.4 million and $1.0 billion were pledged to secure an undrawn FRB line of credit as of December 31, 2020, and December 31, 2019.

As of December 31, 2020, residential mortgage loans of $3.0 billion and home equity loans of $596.0 million, were pledged under a blanket pledge arrangement to secure FHLB advances. As of December 31, 2019, $3.1 billion, were pledged under a blanket pledge arrangement to secure FHLB advances. See Note 10 Other Debt for FHLB advances outstanding as of December 31, 2020, and December 31, 2019.

Net gains related to sales of residential mortgage loans, recorded as a component of mortgage banking income, were $15.4 million, $5.3 million, and $1.5 million for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, respectively. Net gains on sales of commercial loans were not material for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

Substantially all of the Company’s lending activity is with customers located in Hawaii. A substantial portion of the Company’s real estate loans are secured by real estate in Hawaii.

The Company elected to exclude AIR from the amortized cost basis of loans disclosed throughout this footnote. As of December 31, 2020, and December 31, 2019, accrued interest receivable for loans totaled $35.9 million and $30.7 million, respectively, and is included in the “accrued interest receivable” line item on the Company’s consolidated statements of condition.

As previously mentioned in Note 1 Summary of Significant Accounting Policies, the CARES Act established the PPP, administered directly by the SBA. The PPP provides loans of up to $10 million to small businesses who were affected by economic conditions as a result of COVID-19 to provide cash-flow assistance to employers who maintain their payroll (including healthcare and certain related expenses), mortgage interest, rent, leases, utilities and interest on existing debt during the COVID-19 pandemic. PPP loans carry an interest rate of one percent, and a maturity of two or five years. These loans are fully guaranteed by the SBA and may be eligible for forgiveness by the SBA to the extent that the proceeds are used to cover eligible payroll costs, interest costs, rent, and utility costs over a period of up to 24 weeks after the loan is made as long as certain conditions are met regarding employee retention and compensation levels. PPP loans deemed eligible for forgiveness by the SBA will be repaid by the SBA to the Company. The SBA pays the Company fees for processing PPP loans in the following amounts: (1) five percent for loans of not more than $350,000; (2) three percent for loans of more than $350,000 and less than $2,000,000; and (3) one percent for loans of at least $2,000,000. These processing fees are accounted for as loan origination fees and recognized over the contractual loan term as a yield adjustment on the loans. PPP loans are included in the Commercial and Industrial loan class. As of December 31, 2020, the Company had 4,435 PPP loans outstanding, with an outstanding principal balance of $528.1 million.

Allowance for Credit Losses (the “Allowance”)

As previously mentioned in Note 1 Summary of Significant Accounting Policies, the Company’s January 1, 2020, adoption of ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments,” resulted in a significant change to our methodology for estimating the Allowance since December 31, 2019. As a result of this adoption, the Company recorded a $1.7 million decrease to the Allowance as a cumulative-effect adjustment on January 1, 2020.

The following presents by portfolio segment, the activity in the Allowance for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.

(dollars in thousands)	Commercial			Consumer			Total
For the Year Ended December 31, 2020
Allowance for Credit Losses:
Balance at Beginning of Period (December 31, 2019)	$	73,801		$	36,226		$	110,027
CECL Adoption (Day 1) Impact		(18,789	)		17,052			(1,737	)
Balance at Beginning of Period (January 1, 2020)		55,012			53,278			108,290
Loans and Leases Charged-Off		(1,697	)		(19,341	)		(21,038	)
Recoveries on Loans and Leases Previously Charged-Off		2,328			11,572			13,900
Net Loans and Leases Recovered (Charged-Off)		631			(7,769	)		(7,138	)
Provision for Credit Losses		29,204			85,896			115,100
Balance at End of Period	$	84,847		$	131,405		$	216,252

For the Year Ended December 31, 2019
Allowance for Credit Losses:
Balance at Beginning of Period	$	66,874		$	39,819		$	106,693
Loans and Leases Charged-Off		(2,738	)		(21,217	)		(23,955	)
Recoveries on Loans and Leases Previously Charged-Off		1,513			9,776			11,289
Net Loans and Leases Recovered (Charged-Off)		(1,225	)		(11,441	)		(12,666	)
Provision for Credit Losses		8,152			7,848			16,000
Balance at End of Period	$	73,801		$	36,226		$	110,027

For the Year Ended December 31, 2018
Allowance for Credit Losses:
Balance at Beginning of Period	$	65,822		$	41,524		$	107,346
Loans and Leases Charged-Off		(1,505	)		(23,059	)		(24,564	)
Recoveries on Loans and Leases Previously Charged-Off		2,039			8,447			10,486
Net Loans and Leases Recovered (Charged-Off)		534			(14,612	)		(14,078	)
Provision for Credit Losses		518			12,907			13,425
Balance at End of Period	$	66,874		$	39,819		$	106,693

Credit Quality Indicators

The Company uses several credit quality indicators to manage credit risk in an ongoing manner. The Company uses an internal credit risk rating system that categorizes loans and leases into pass, special mention, or classified categories. Credit risk ratings are applied individually to those classes of loans and leases that have significant or unique credit characteristics that benefit from a case-by-case evaluation. These are typically loans and leases to businesses or individuals in the classes which comprise the commercial portfolio segment. Groups of loans and leases that are underwritten and structured using standardized criteria and characteristics, such as statistical models (e.g., credit scoring or payment performance), are typically risk-rated and monitored collectively. These are typically loans and leases to individuals in the classes which comprise the consumer portfolio segment.

The following are the definitions of the Company’s credit quality indicators:

Pass:

Loans and leases in all classes within the commercial and consumer portfolio segments that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan or lease agreement. Management believes that there is a low likelihood of loss related to those loans and leases that are considered Pass.

Special Mention:

Loans and leases in all classes within the commercial portfolio segment that have potential weaknesses that deserve management’s close attention. If not addressed, these potential weaknesses may result in deterioration of the repayment prospects for the loan or lease. Management believes that there is a moderate likelihood of some loss related to those loans and leases that are considered Special Mention. The Special Mention credit quality indicator is not used for the consumer portfolio segment.

Classified:

Loans and leases in the classes within the commercial portfolio segment that are inadequately protected by the sound worth and paying capacity of the borrower or of the collateral pledged, if any. Classified loans and leases are also those in the classes within the consumer portfolio segment that are past due 90 days or more as to principal or interest. Residential mortgage loans that are past due 90 days or more as to principal or interest may be considered Pass if the current loan-to-value ratio is 60% or less. Home equity loans that are past due 90 days or more as to principal or interest may be considered Pass if the first mortgage is with the Company and the current combined loan-to-value ratio is 60% or less. Residential mortgage and home equity loans may be current as to principal and interest, but may be considered Classified for a period of generally up to six months following a loan modification. Following a period of demonstrated performance in accordance with the modified contractual terms, the loan may be removed from Classified status. Management believes that there is a distinct possibility that the Company will sustain some loss if the deficiencies related to Classified loans and leases are not corrected in a timely manner.

For Pass rated credits, risk ratings are certified at a minimum annually. For Special Mention or Classified Credits, risk ratings are reviewed for appropriateness on an ongoing basis, monthly, or at a minimum, quarterly. The following presents by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of December 31, 2020.

		Term Loans by Origination Year
(dollars in thousands)	2020			2019		2018		2017		2016		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total Loans and Leases
December 31, 2020
Commercial
Commercial and Industrial
Pass		$	944,463	$	149,024	$	149,468	$	49,385	$	52,354	$	68,269	$	342,339	$	847	$	1,756,149
Special Mention			11,702		42		-		-		110		95		32,319		52		44,320
Classified			32,208		1,734		2,266		777		19		19,166		18,529		125		74,824
Total Commercial and Industrial		$	988,373	$	150,800	$	151,734	$	50,162	$	52,483	$	87,530	$	393,187	$	1,024	$	1,875,293
Commercial Mortgage
Pass		$	847,676	$	458,472	$	350,363	$	245,157	$	267,860	$	425,157	$	76,869	$	-	$	2,671,554
Special Mention			66,523		28,418		291		7,117		8,665		5,035		-		-		116,049
Classified			49,640		655		2,783		274		4,742		9,132		-		-		67,226
Total Commercial Mortgage		$	963,839	$	487,545	$	353,437	$	252,548	$	281,267	$	439,324	$	76,869	$	-	$	2,854,829
Construction
Pass		$	106,508	$	105,731	$	11,275	$	8,133	$	-	$	-	$	28,151	$	-	$	259,798
Total Construction		$	106,508	$	105,731	$	11,275	$	8,133	$	-	$	-	$	28,151	$	-	$	259,798
Lease Financing
Pass		$	19,906	$	20,132	$	13,785	$	4,202	$	9,657	$	41,755	$	-	$	-	$	109,437
Classified			33		67		1,092		42		95		-		-		-		1,329
Total Lease Financing		$	19,939	$	20,199	$	14,877	$	4,244	$	9,752	$	41,755	$	-	$	-	$	110,766
Total Commercial		$	2,078,659	$	764,275	$	531,323	$	315,087	$	343,502	$	568,609	$	498,207	$	1,024	$	5,100,686
Consumer
Residential Mortgage
Pass		$	1,300,831	$	576,452	$	295,522	$	454,165	$	545,798	$	954,120	$	-	$	-	$	4,126,888
Classified			-		294		-		1,032		-		2,299		-		-		3,625
Total Residential Mortgage		$	1,300,831	$	576,746	$	295,522	$	455,197	$	545,798	$	956,419	$	-	$	-	$	4,130,513
Home Equity
Pass		$	-	$	-	$	-	$	-	$	-	$	4,449	$	1,556,671	$	37,559	$	1,598,679
Classified			-		-		-		-		-		88		4,693		1,078		5,859
Total Home Equity		$	-	$	-	$	-	$	-	$	-	$	4,537	$	1,561,364	$	38,637	$	1,604,538
Automobile
Pass		$	219,218	$	213,914	$	158,216	$	68,776	$	33,899	$	13,850	$	-	$	-	$	707,873
Classified			101		245		171		113		161		136		-		-		927
Total Automobile		$	219,319	$	214,159	$	158,387	$	68,889	$	34,060	$	13,986	$	-	$	-	$	708,800
Other¹
Pass		$	71,042	$	145,549	$	92,993	$	39,770	$	9,225	$	2,189	$	32,070	$	1,485	$	394,323
Classified			51		419		375		167		42		21		85		-		1,160
Total Other		$	71,093	$	145,968	$	93,368	$	39,937	$	9,267	$	2,210	$	32,155	$	1,485	$	395,483
Total Consumer		$	1,591,243	$	936,873	$	547,277	$	564,023	$	589,125	$	977,152	$	1,593,519	$	40,122	$	6,839,334
Total Loans and Leases		$	3,669,902	$	1,701,148	$	1,078,600	$	879,110	$	932,627	$	1,545,761	$	2,091,726	$	41,146	$	11,940,020

¹	Comprised of other revolving credit, installment, and lease financing.

For the year ended December 31, 2020, $2.9 million revolving loans were converted to term loans.

The following presents by loan class and credit quality indicator, the recorded investment in the Company’s loans and leases as of December 31, 2019.

	December 31, 2019
(dollars in thousands)	Commercial and Industrial		Commercial Mortgage		Construction		Lease Financing		Total Commercial
Pass	$	1,306,040	$	2,463,858	$	188,832	$	120,933	$	4,079,663
Special Mention		37,722		16,453		4,148		—		58,323
Classified		35,390		37,740		1,190		1,521		75,841
Total	$	1,379,152	$	2,518,051	$	194,170	$	122,454	$	4,213,827

(dollars in thousands)	Residential Mortgage		Home Equity		Automobile		Other ¹		Total Consumer
Pass	$	3,886,389	$	1,671,468	$	719,337	$	488,113	$	6,765,307
Classified		4,711		4,605		949		1,493		11,758
Total	$	3,891,100	$	1,676,073	$	720,286	$	489,606	$	6,777,065
Total Recorded Investment in Loans and Leases									$	10,990,892

¹	Comprised of other revolving credit, installment, and lease financing.

Aging Analysis

Loans and leases are considered to be past due once becoming 30 days delinquent. For the consumer portfolio, this generally represents two missed monthly payments. The following presents by class, an aging analysis of the Company’s loan and lease portfolio as of December 31, 2020, and December 31, 2019.

(dollars in thousands)	30 - 59 Days Past Due		60 - 89 Days Past Due		Past Due 90 Days or More		Non- Accrual		Total Past Due and Non- Accrual		Current		Total Loans and Leases		Non- Accrual Loans and Leases that are Current ²
As of December 31, 2020
Commercial
Commercial and Industrial	$	191	$	59	$	—	$	441	$	691	$	1,874,602	$	1,875,293	$	285
Commercial Mortgage		—		—		—		8,527		8,527		2,846,302		2,854,829		4,983
Construction		—		—		—		—		—		259,798		259,798		—
Lease Financing		—		—		—		—		—		110,766		110,766		—
Total Commercial		191		59		—		8,968		9,218		5,091,468		5,100,686		5,268
Consumer
Residential Mortgage		4,049		2,083		5,274		3,223		14,629		4,115,884		4,130,513		2,100
Home Equity		3,423		3,378		3,187		3,958		13,946		1,590,592		1,604,538		987
Automobile		6,358		2,215		925		—		9,498		699,302		708,800		—
Other ¹		2,556		1,612		1,160		—		5,328		390,155		395,483		—
Total Consumer		16,386		9,288		10,546		7,181		43,401		6,795,933		6,839,334		3,087
Total	$	16,577	$	9,347	$	10,546	$	16,149	$	52,619	$	11,887,401	$	11,940,020	$	8,355

As of December 31, 2019
Commercial
Commercial and Industrial	$	12,534	$	148	$	—	$	830	$	13,512	$	1,365,640	$	1,379,152	$	421
Commercial Mortgage		2,998		—		—		9,244		12,242		2,505,809		2,518,051		9,244
Construction		101		51		—		—		152		194,018		194,170		—
Lease Financing		720		—		—		—		720		121,734		122,454		—
Total Commercial		16,353		199		—		10,074		26,626		4,187,201		4,213,827		9,665
Consumer
Residential Mortgage		6,097		2,070		1,839		4,125		14,131		3,876,969		3,891,100		1,429
Home Equity		3,949		2,280		4,125		3,181		13,535		1,662,538		1,676,073		412
Automobile		16,067		4,154		949		—		21,170		699,116		720,286		—
Other ¹		3,498		2,074		1,493		—		7,065		482,541		489,606		—
Total Consumer		29,611		10,578		8,406		7,306		55,901		6,721,164		6,777,065		1,841
Total	$	45,964	$	10,777	$	8,406	$	17,380	$	82,527	$	10,908,365	$	10,990,892	$	11,506

¹	Comprised of other revolving credit, installment, and lease financing.

²	Represents non-accrual loans that are not past due 30 days or more; however, full payment of principal and interest is still not expected.

Non-Accrual Loans and Leases

The following presents the non-accrual loans and leases as of December 31, 2020, and December 31, 2019.

	December 31, 2020						December 31, 2019
(dollars in thousands)	Non-accrual loans with a related ACL		Non-accrual loans without a related ACL		Total Non-accrual loans		Total Non-accrual loans
Impaired Loans with No Related Allowance Recorded:
Commercial
Commercial and Industrial	$	441	$	—	$	441	$	830
Commercial Mortgage		8,527		—		8,527		9,244
Total Commercial		8,968		—		8,968		10,074
Consumer
Residential Mortgage		3,096		127		3,223		4,125
Home Equity		3,958		—		3,958		3,181
Total Consumer		7,054		127		7,181		7,306
Total	$	16,022	$	127	$	16,149	$	17,380

All payments received while on non-accrual status are applied against the principal balance of the loan or lease. The Company does not recognize interest income while loans or leases are on non-accrual status.

Modifications

A modification of a loan constitutes a troubled debt restructuring (“TDR”) when the Company for economic or legal reasons related to a borrower’s financial difficulties grants a concession to the borrower that it would not otherwise consider. Loans modified in a TDR were $72.5 million and $69.1 million as of December 31, 2020, and December 31, 2019, respectively. As of December 31, 2020, there were $0.5 million commitments to lend additional funds on loans modified in a TDR. As of December 31, 2019, there were $0.3 million commitments to lend additional funds on loans modified in a TDR.

The Company offers various types of concessions when modifying a loan or lease. Commercial and industrial loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral, a co-borrower, or a guarantor is often requested. Commercial mortgage and construction loans modified in a TDR often involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, or substituting or adding a co-borrower or guarantor. Construction loans modified in a TDR may also involve extending the interest-only payment period. Residential mortgage loans modified in a TDR generally include a lower interest rate and the loan being fully amortized for up to 40 years from the modification effective date. In some cases, the Company may forbear a portion of the unpaid principal balance with a balloon payment due upon maturity or pay-off of the loan. Land loans are also included in the class of residential mortgage loans. Land loans are typically structured as interest-only monthly payments with a balloon payment due at maturity. Land loan modifications usually involve extending the interest-only payments up to an additional five years with a balloon payment due at maturity, or re-amortizing the remaining balance over a period up to 360 months. Interest rates are not changed for land loan modifications. Home equity modifications are made infrequently and uniquely designed to meet the specific needs of each borrower. Automobile loans modified in a TDR are primarily comprised of loans where the Company has lowered monthly payments by extending the term.

Loans modified in a TDR are typically already on non-accrual status and partial charge-offs have in some cases already been taken against the outstanding loan balance. As a result, loans modified in a TDR may have the financial effect of increasing the specific Allowance associated with the loan. An Allowance for impaired commercial and consumer loans that have been modified in a TDR is measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent. Management exercises significant judgment in developing these estimates.

The following presents by class, information related to loans modified in a TDR during the years ended December 31, 2020, and December 31, 2019.

	Loans Modified as a TDR for the Year Ended December 31, 2020						Loans Modified as a TDR for the Year Ended December 31, 2019
Troubled Debt Restructurings (dollars in thousands)	Number of Contracts		Recorded Investment (as of period end) ¹		Increase in Allowance (as of period end)		Number of Contracts		Recorded Investment (as of period end) ¹		Increase in Allowance (as of period end)
Commercial
Commercial and Industrial		5	$	203	$	5		8	$	17,585	$	2,465
Commercial Mortgage		1		1,046		60		1		3,623		—
Total Commercial		6		1,249		65		9		21,208		2,465
Consumer
Residential Mortgage		—		—		—		1		57		—
Home Equity		10		1,246		8		4		368		9
Automobile		352		7,541		112		332		5,911		73
Other ²		180		1,850		77		95		572		17
Total Consumer		542		10,637		197		432		6,908		99
Total		548	$	11,886	$	262		441	$	28,116	$	2,564

¹	The period end balances reflect all partial paydowns and charge-offs since the modification date. TDRs fully paid off, charged off, or foreclosed upon by period end are not included.

²	Comprised of other revolving credit and installment financing.

	Year Ended December 31, 2020				Year Ended December 31, 2019
TDRs that Defaulted During the Period, Within Twelve Months of their Modification Date (dollars in thousands)	Number of Contracts		Recorded Investment (as of period end)¹		Number of Contracts		Recorded Investment (as of period end) ¹
Commercial
Commercial and Industrial		1	$	27		—	$	—
Total Commercial		1		27		—		—
Consumer
Residential Mortgage		—		—		1		132
Home Equity		—		—		1		192
Automobile		43		723		40		607
Other ²		10		81		22		129
Total Consumer		53		804		64		1,060
Total		54	$	831		64	$	1,060

¹	The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid off, charged off, or foreclosed upon by period end are not included.

²	Comprised of other revolving credit and installment financing.

Loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the Company evaluates the loan for possible further impairment. The specific Allowance associated with the loan may be increased, adjustments may be made in the allocation of the Allowance, or partial charge-offs may be taken to further write-down the carrying value of the loan.

Modifications in response to COVID-19

The Company began offering short-term loan modifications to assist borrowers during the COVID-19 pandemic. These modifications generally involve principal and/or interest payment deferrals for up to six months. As the COVID-19 pandemic persists in negatively impacting the economy, the Company continues to offer additional loan modifications to borrowers struggling as a result of COVID-19. Similar to the initial modifications granted, the additional round of loan modifications generally involve principal and/or interest payment deferrals for up to an additional six months for commercial and consumer loans, and principal-only deferrals for up to an additional 12 months for selected commercial loans. The Company generally continues to accrue and recognize interest income during the forbearance period. The Company offers several repayment options such as immediate repayment, repayment over a designated time period or as a balloon payment at maturity, or by extending the loan term. These modifications generally do not involve forgiveness or interest rate reductions. The CARES Act, along with a joint agency statement issued by banking agencies, provide that modifications made in response to COVID-19 to borrowers who qualify are not required to be accounted for as a TDR. Accordingly, the Company does not account for such qualifying as TDRs. See Note 1 Summary of Significant Accounting Policies for more information.

The Company, as lessor, also granted short-term lease concessions on some of its sales-type finance leases for equipment and automobiles. The concessions primarily consists of six-month extension programs whereby lease payments currently due are deferred and shifted to the end of the lease term. Interest income continues to accrue during the deferral period. Additional round of lease concessions were not material. See Note 1 Summary of Significant Accounting Policies for more information.

As of December 31, 2020, these COVID-19 related loan and lease modifications totaled $311.6 million (210 loans and leases) for the commercial segment and $178.1 million (1,920 loans and leases) for the consumer segment.

Foreclosure Proceedings

Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $1.0 million as of December 31, 2020.

Other Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Other Debt

The Company’s other debt as of December 31, 2020, and December 31, 2019, were as follows:

	December 31,
(dollars in thousands)	2020		2019
Federal Home Loan Bank Advances	$	50,000	$	75,000
Finance Lease Obligations		10,481		10,565
Total	$	60,481	$	85,565

Schedule of Annual Maturities of Other Debt Exclusive of Finance Lease Obligations

As of December 31, 2020, the annual maturities of the Company’s other debt, exclusive of finance lease obligations, were expected to be as follows:

(dollars in thousands)	Amount
2021	$	—
2022		—
2023		—
2024		50,000
2025		—
Thereafter		—
Total	$	50,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Borrowings - Schedule of Details of Short-term Borrowings (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Short Term Debt [Line Items]
Securities Sold Under Agreements to Repurchase	$ 600,590	$ 604,306
Long-term Repurchase Agreements with Government Entities
Short Term Debt [Line Items]
Securities Sold Under Agreements to Repurchase	500	2,100
Long-term Repurchase Agreements with Private Institutions
Short Term Debt [Line Items]
Securities Sold Under Agreements to Repurchase	$ 600,000	$ 600,000

Deposits - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deposits [Abstract]
Total time deposits	$ 1,662,063	$ 1,802,431
Government entity deposits	1,500,000	1,200,000
Total time deposits100,000 or more	$ 1,388,382	$ 1,500,000

Share-Based Compensation - Schedule of Activity for Restricted Stock Units (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of Shares
Unvested, Beginning Balance	52,064	116,489
Vested	(52,064)	(62,252)
Forfeited		(2,173)
Unvested, Ending Balance		52,064
Weighted Average Grant Date Fair Value
Beginning Balance		$ 63.92	$ 60.22
Vested	$ 82.23	57.00
Forfeited		$ 63.92
Grant Date Fair Value of Restricted Stock that Vested During the Year
Vested	$ 4,311	$ 5,127

Loans and Leases and the Allowance for Credit Losses - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) Loan	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Loan and lease portfolio
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	$ 4,100,000
Unearned income on loans and leases		$ 1,300,000
Commercial loans and residential mortgage loans pledged to secure an undrawn FRB line of credit	805,400,000	1,000,000,000.0
Residential mortgage loans pledged under a blanket pledge arrangement to secure FHLB advance	3,000,000,000.0	3,100,000,000
Net gains related to sales of residential mortgage loans	15,400,000	5,300,000	$ 1,500,000
Accrued Interest Receivable	$ 49,303,000	46,476,000
Number of paycheck protection loans \| Loan	4,435
Revolving loans, converted to term loan during the period	$ 2,900
Number of days non-accrual loans are not past due	30 days
Recorded Investment	$ 72,500,000	69,100,000
Available commitments to lend additional funds on loans modified as TDR	500,000	300,000
Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure	$ 1,000,000.0
Consumer
Loan and lease portfolio
Number of loan and lease concessions - COVID-19 \| Loan	1,920
Loan and lease modifications, amount - COVID-19	$ 178,100,000
Commercial
Loan and lease portfolio
Number of loan and lease concessions - COVID-19 \| Loan	210
Loan and lease modifications, amount - COVID-19	$ 311,600,000
Classified
Loan and lease portfolio
Number of months up to which residential and home equity loans may be considered classified, even if they are current as to principal and interest	6 months
Classified \| Consumer
Loan and lease portfolio
Number of days past due for loans and leases in classified credit quality indicator	90 days
Accounting Standards Update 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Loan and lease portfolio
Additional decrease in cumulative adjustment	$ 1,700,000
PPP Loans, Administered by the SBA
Loan and lease portfolio
Maximum borrowing capacity under paycheck protection program loan	$ 10,000,000
Loans interest rate	1.00%
Long-term debt, gross	$ 528,100,000
PPP Loan Processing Fees Threshold One
Loan and lease portfolio
Percentage of processing fees by SBA	5.00%
PPP Loan Processing Fees Threshold Two
Loan and lease portfolio
Percentage of processing fees by SBA	3.00%
PPP Loan Processing Fees Threshold Three
Loan and lease portfolio
Percentage of processing fees by SBA	1.00%
Accrued Interest Receivable
Loan and lease portfolio
Accrued Interest Receivable	$ 35,900,000	$ 30,700,000
Maximum \| PPP Loans, Administered by the SBA
Loan and lease portfolio
Loans maturity period	5 years
Maximum \| PPP Loan Processing Fees Threshold One
Loan and lease portfolio
Processing fee payment threshold limit of loan amount	$ 350,000
Maximum \| PPP Loan Processing Fees Threshold Two
Loan and lease portfolio
Processing fee payment threshold limit of loan amount	$ 2,000,000
Minimum [Member]
Loan and lease portfolio
Default period past due following modification of loans in TDR (in days)	60 days
Minimum [Member] \| PPP Loans, Administered by the SBA
Loan and lease portfolio
Loans maturity period	2 years
Minimum [Member] \| PPP Loan Processing Fees Threshold Two
Loan and lease portfolio
Processing fee payment threshold limit of loan amount	$ 350,000
Minimum [Member] \| PPP Loan Processing Fees Threshold Three
Loan and lease portfolio
Processing fee payment threshold limit of loan amount	2,000,000
Home Equity
Loan and lease portfolio
Residential mortgage loans pledged under a blanket pledge arrangement to secure FHLB advance	$ 596,000,000.0
Home Equity \| Classified
Loan and lease portfolio
Number of days past due for loans and leases in classified credit quality indicator	90 days
Maximum current loan-to-value ratio for residential mortgage and home equity loans to be considered as pass (as a percent)	60.00%
Residential Mortgage \| Classified
Loan and lease portfolio
Number of days past due for loans and leases in classified credit quality indicator	90 days
Maximum current loan-to-value ratio for residential mortgage and home equity loans to be considered as pass (as a percent)	60.00%
Residential Mortgage \| Maximum
Loan and lease portfolio
Period of time loan being fully amortized	40 years
Land Loan \| Maximum
Loan and lease portfolio
Period of time loan being fully amortized	360 months
Extending balloon payments	5 years