Fair Value Information (Tables)

12 Months Ended

Dec. 31, 2017

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 December 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	$	-	$	-	$	-	$	-
Residential mortgage-backed securities		1,750,909		-		1,750,909		-
CMO/REMIC - residential		273,829		-		273,829		-
Municipal bonds		55,496		-		55,496		-
Other securities		751		-		751		-

Total investment securities - AFS		2,080,985		-		2,080,985		-
Interest rate swaps		3,211		-		3,211		-

Total assets	$	2,084,196	$	-	$	2,084,196	$	-

Description of liability
Interest rate swaps	$	3,211	$	-	$	3,211	$	-

Total liabilities	$	3,211	$	-	$	3,211	$	-


	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

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 December 31, 2017		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, 2017
	(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial	$	-	$	-	$	-	$	-	$	-
SBA		-		-		-		-		-
Real estate:
Commercial real estate		-		-		-		-		-
Construction		-		-		-		-		-
SFR mortgage		-		-		-		-		-
Dairy & livestock and agribusiness		-		-		-		-		-
Consumer and other loans		378		-		-		378		74
Other real estate owned		-		-		-		-		-
Asset held-for-sale		-						-		-

Total assets	$	378	$	-	$	-	$	378	$	74


	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.


	December 31, 2017
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets
Total cash and cash equivalents	$	144,377	$	144,377	$	-	$	-	$	144,377
Interest-earning balances due from depository institutions		17,952		-		17,951		-		17,951
FHLB stock		17,688		-		17,688		-		17,688
Investment securities available-for-sale		2,080,985		-		2,080,985		-		2,080,985
Investment securities held-to-maturity		829,890		-		819,215		-		819,215
Total loans, net of allowance for loan losses		4,771,046		-		-		4,678,402		4,678,402
Swaps		3,211		-		3,211		-		3,211
Liabilities
Deposits:
Noninterest-bearing	$	3,846,436	$	3,846,436	$	-	$	-	$	3,846,436
Interest-bearing		2,700,417		-		2,697,781		-		2,697,781
Borrowings		553,773		-		553,416		-		553,416
Junior subordinated debentures		25,774		-		-		18,070		18,070
Swaps		3,211		-		3,211		-		3,211

	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	$	121,633	$	121,633	$	-	$	-	$	121,633
Interest-earning balances due from depository institutions		47,848		-		47,848		-		47,848
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