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Fair Value Information (Tables)

3 Months Ended

Mar. 31, 2017

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 March 31, 2017				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		$	1,750			$	-			$	1,750			$	-
Residential mortgage-backed securities			1,861,753				-				1,861,753				-
CMO/REMIC - residential			326,444				-				326,444				-
Municipal bonds			75,721				-				75,721				-
Other securities			6,035				-				6,035				-
Total investment securities - AFS			2,271,703				-				2,271,703				-
Interest rate swaps			4,985				-				4,985				-
Total assets		$	2,276,688			$	-			$	2,276,688			$	-
Description of liability
Interest rate swaps		$	4,985			$	-			$	4,985			$	-
Total liabilities		$	4,985			$	-			$	4,985			$	-
		Carrying Value at December 31, 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		$	2,752			$	-			$	2,752			$	-
Residential mortgage-backed securities			1,834,748				-				1,834,748				-
CMO/REMIC - residential			347,189				-				347,189				-
Municipal bonds			80,071				-				80,071				-
Other securities			5,706				-				5,706				-
Total investment securities - AFS			2,270,466				-				2,270,466				-
Interest rate swaps			5,783				-				5,783				-
Total assets		$	2,276,249			$	-			$	2,276,249			$	-
Description of liability
Interest rate swaps		$	5,783			$	-			$	5,783			$	-
Total liabilities		$	5,783			$	-			$	5,783			$	-

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

For assets measured at fair value on a non-recurring basis that were held on the balance sheet at December 31, 2016, the following table provides 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 December 31, 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 Year Ended December 31, 2016
		(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial		$	65			$	-			$	-			$	65			$	8
SBA			196				-				-				196				27
Real estate:
Commercial real estate			-				-				-				-				-
Construction			-				-				-				-				-
SFR mortgage			-				-				-				-				-
Dairy & livestock and agribusiness			-				-				-				-				-
Consumer and other loans			-				-				-				-				-
Other real estate owned			-				-				-				-				-
Asset held-for-sale			3,411												3,411				2,558
Total assets		$	3,672			$	-			$	-			$	3,672			$	2,593

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.

		March 31, 2017
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and due from banks		$	118,772			$	118,772			$	-			$	-			$	118,772
Interest-earning balances due from depository institutions and federal funds sold			263,669				-				263,669				-				263,669
FHLB stock			19,640				-				19,640				-				19,640
Investment securities available-for-sale			2,271,703				-				2,271,703				-				2,271,703
Investment securities held-to-maturity			885,057				-				871,755				-				871,755
Total loans, net of allowance for loan losses			4,556,285				-				-				4,520,673				4,520,673
Swaps			4,985				-				4,985				-				4,985
Liabilities
Deposits:
Noninterest-bearing		$	3,999,107			$	3,999,107			$	-			$	-			$	3,999,107
Interest-bearing			2,843,706				-				2,841,739				-				2,841,739
Borrowings			564,387				-				564,147				-				564,147
Junior subordinated debentures			25,774				-				-				18,913				18,913
Swaps			4,985				-				4,985				-				4,985
		December 31, 2016
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and due from banks		$	119,445			$	119,445			$	-			$	-			$	119,445
Interest-earning balances due from depository institutions			2,188				-				2,188				-				2,188
FHLB stock			17,688				-				17,688				-				17,688
Investment securities available-for-sale			2,270,466				-				2,270,466				-				2,270,466
Investment securities held-to-maturity			911,676				-				897,374				-				897,374
Total loans, net of allowance for loan losses			4,333,524				-				-				4,306,225				4,306,225
Swaps			5,783				-				5,783				-				5,783
Liabilities
Deposits:
Noninterest-bearing		$	3,673,541			$	3,673,541			$	-			$	-			$	3,673,541
Interest-bearing			2,636,139				-				2,634,443				-				2,634,443
Borrowings			656,028				-				655,820				-				655,820
Junior subordinated debentures			25,774				-				-				18,463				18,463
Swaps			5,783				-				5,783				-				5,783

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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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- Definition

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

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-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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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