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Fair Value Information (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented.

		Carrying Value at September 30, 2015				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in thousands)
Description of assets
Investment securities - AFS:
Government agency/GSEs		$	20,768			$	-			$	20,768			$	-
Residential mortgage-backed securities			1,711,545				-				1,711,545				-
CMO’s/REMIC’s - residential			388,497				-				388,497				-
Municipal bonds			186,898				-				186,898				-
Other securities			5,013				-				5,013				-
Total investment securities - AFS			2,312,721				-				2,312,721				-
Interest rate swaps			11,694				-				11,694				-
Total assets		$	2,324,415			$	-			$	2,324,415			$	-
Description of liability
Interest rate swaps		$	11,694			$	-			$	11,694			$	-
Total liabilities		$	11,694			$	-			$	11,694			$	-

		Carrying Value at December 31, 2014				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in thousands)
Description of assets
Investment securities - AFS:
Government agency/GSEs		$	330,843			$	-			$	330,843			$	-
Residential mortgage-backed securities			1,917,496				-				1,917,496				-
CMO’s/REMIC’s - residential			304,091				-				304,091				-
Municipal bonds			579,641				-				579,641				-
Other securities			5,087				-				5,087				-
Total investment securities - AFS			3,137,158				-				3,137,158				-
Interest rate swaps			10,080				-				10,080				-
Total assets		$	3,147,238			$	-			$	3,147,238			$	-
Description of liability
Interest rate swaps		$	10,080			$	-			$	10,080			$	-
Total liabilities		$	10,080			$	-			$	10,080			$	-

Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

 the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets for investments that experienced losses during the period.

		Carrying Value at September 30, 2015				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Losses For the Nine Months Ended September 30, 2015
		(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI Loans:
Commercial and industrial		$	202			$	-			$	-			$	202			$	202
SBA			46				-				-				46				4
Real estate:
Commercial real estate			-				-				-				-				-
Construction			7,651				-				-				7,651				23
SFR mortgage			610				-				-				610				237
Dairy & livestock and agribusiness			-				-				-				-				-
Consumer and other loans			249				-				-				249				81
Other real estate owned			948				-				-				948				162
Total assets		$	9,706			$	-			$	-			$	9,706			$	709

		Carrying Value at December 31, 2014				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Losses For the Year Ended December 31, 2014
		(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI Loans:
Commercial and industrial		$	1,911			$	-			$	-			$	1,911			$	771
SBA			1,327				-				-				1,327				296
Real estate:
Commercial real estate			2,500				-				-				2,500				271
Construction			-				-				-				-				-
SFR mortgage			-				-				-				-				-
Dairy & livestock and agribusiness			103				-				-				103				1,061
Consumer and other loans			482				-				-				482				447
Other real estate owned			-				-				-				-				-
Total assets		$	6,323			$	-			$	-			$	6,323			$	2,846

Estimated Fair Value of Financial Instruments

The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

		September 30, 2015
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and cash equivalents		$	308,227			$	308,227			$	-			$	-			$	308,227
Interest-earning balances due from depository institutions			33,189				-				33,189				-				33,189
FHLB stock			17,588				-				17,588				-				17,588
Investment securities available-for-sale			2,312,721				-				2,312,721				-				2,312,721
Investment securities held-to-maturity			869,650				-				874,446				1,937				876,383
Total loans, net of allowance for loan losses			3,763,022				-				-				3,809,324				3,809,324
Swaps			11,694				-				11,694				-				11,694
Liabilities
Deposits:
Noninterest-bearing		$	3,304,967			$	3,304,967			$	-			$	-			$	3,304,967
Interest-bearing			2,654,505				-				2,654,501				-				2,654,501
Borrowings			610,174				-				610,103				-				610,103
Junior subordinated debentures			25,774				-				26,031				-				26,031
Swaps			11,694				-				11,694				-				11,694

		December 31, 2014
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and cash equivalents		$	105,768			$	105,768			$	-			$	-			$	105,768
Interest-earning balances due from depository institutions			27,118				-				27,118				-				27,118
FHLB stock			25,338				-				25,338				-				25,338
Investment securities available-for-sale			3,137,158				-				3,137,158				-				3,137,158
Investment securities held-to-maturity			1,528				-				-				2,177				2,177
Total loans, net of allowance for loan losses			3,757,242				-				-				3,794,454				3,794,454
Swaps			10,080				-				10,080				-				10,080
Liabilities
Deposits:
Noninterest-bearing		$	2,866,365			$	2,866,365			$	-			$	-			$	2,866,365
Interest-bearing			2,738,293				-				2,739,221				-				2,739,221
Borrowings			809,106				-				822,607				-				822,607
Junior subordinated debentures			25,774				-				26,005				-				26,005
Swaps			10,080				-				10,080				-				10,080

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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