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Fair Value Information (Tables)

9 Months Ended

Sep. 30, 2016

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, 2016				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/GSE		$	3,757			$	-			$	3,757			$	-
Residential mortgage-backed securities			1,737,676				-				1,737,676				-
CMO/REMIC - residential			383,096				-				383,096				-
Municipal bonds			97,534				-				97,534				-
Other securities			5,488				-				5,488				-
Total investment securities - AFS			2,227,551				-				2,227,551				-
Interest rate swaps			13,201				-				13,201				-
Total assets		$	2,240,752			$	-			$	2,240,752			$	-
Description of liability
Interest rate swaps		$	13,201			$	-			$	13,201			$	-
Total liabilities		$	13,201			$	-			$	13,201			$	-
		Carrying Value at December 31, 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/GSE		$	5,745			$	-			$	5,745			$	-
Residential mortgage-backed securities			1,813,097				-				1,813,097				-
CMO/REMIC - residential			383,781				-				383,781				-
Municipal bonds			160,973				-				160,973				-
Other securities			5,050				-				5,050				-
Total investment securities - AFS			2,368,646				-				2,368,646				-
Interest rate swaps			9,344				-				9,344				-
Total assets		$	2,377,990			$	-			$	2,377,990			$	-
Description of liability
Interest rate swaps		$	9,344			$	-			$	9,344			$	-
Total liabilities		$	9,344			$	-			$	9,344			$	-

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 that had losses during the period.

		Carrying Value at September 30, 2016				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, 2016
		(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial		$	144			$	-			$	-			$	144			$	73
SBA			202				-				-				202				33
Real estate:
Commercial real estate			-				-				-				-				-
Construction			-				-				-				-				-
SFR mortgage			-				-				-				-				-
Dairy & livestock and agribusiness			-				-				-				-				-
Consumer and other loans			19				-				-				19				18
Other real estate owned			313				-				-				313				28
Total assets		$	678			$	-			$	-			$	678			$	152
		Carrying Value at December 31, 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 Year Ended December 31, 2015
		(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial		$	228			$	-			$	-			$	228			$	228
SBA			41				-				-				41				15
Real estate:
Commercial real estate			-				-				-				-				-
Construction			7,651				-				-				7,651				13
SFR mortgage			588				-				-				588				20
Dairy & livestock and agribusiness			-				-				-				-				-
Consumer and other loans			258				-				-				258				101
Other real estate owned			948				-				-				948				162
Total assets		$	9,714			$	-			$	-			$	9,714			$	539

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, 2016
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and cash equivalents		$	119,420			$	119,420			$	-			$	-			$	119,420
Interest-earning balances due from depository institutions			139,739				-				139,739				-				139,739
FHLB stock			17,688				-				17,688				-				17,688
Investment securities available-for-sale			2,227,551				-				2,227,551				-				2,227,551
Investment securities held-to-maturity			878,953				-				893,706				-				893,706
Total loans, net of allowance for loan losses			4,234,166				-				-				4,280,285				4,280,285
Swaps			13,201				-				13,201				-				13,201
Liabilities
Deposits:
Noninterest-bearing		$	3,657,610			$	3,657,610			$	-			$	-			$	3,657,610
Interest-bearing			2,663,385				-				2,663,178				-				2,663,178
Borrowings			577,990				-				577,872				-				577,872
Junior subordinated debentures			25,774				-				-				18,031				18,031
Swaps			13,201				-				13,201				-				13,201
		December 31, 2015
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and cash equivalents		$	106,097			$	106,097			$	-			$	-			$	106,097
Interest-earning balances due from depository institutions			32,691				-				32,691				-				32,691
FHLB stock			17,588				-				17,588				-				17,588
Investment securities available-for-sale			2,368,646				-				2,368,646				-				2,368,646
Investment securities held-to-maturity			850,989				-				851,186				1,853				853,039
Total loans, net of allowance for loan losses			3,957,781				-				-				3,971,329				3,971,329
Swaps			9,344				-				9,344				-				9,344
Liabilities
Deposits:
Noninterest-bearing		$	3,250,174			$	3,250,174			$	-			$	-			$	3,250,174
Interest-bearing			2,667,086				-				2,666,186				-				2,666,186
Borrowings			736,704				-				736,575				-				736,575
Junior subordinated debentures			25,774				-				-				27,210				27,210
Swaps			9,344				-				9,344				-				9,344

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- 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).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611

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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).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
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