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Fair Value Information (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018				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:
Residential mortgage-backed securities		$	1,631,340			$	-			$	1,631,340			$	-
CMO/REMIC - residential			255,646				-				255,646				-
Municipal bonds			53,868				-				53,868				-
Other securities			738				-				738				-
Total investment securities - AFS			1,941,592				-				1,941,592				-
Interest rate swaps			1,645				-				1,645				-
Total assets		$	1,943,237			$	-			$	1,943,237			$	-
Description of liability
Interest rate swaps		$	1,645			$	-			$	1,645			$	-
Total liabilities		$	1,645			$	-			$	1,645			$	-
		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:
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			$	-

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

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, 2018
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and cash equivalents		$	456,238			$	456,238			$	-			$	-			$	456,238
Interest-earning balances due from depository institutions			10,100				-				10,095				-				10,095
FHLB stock			17,688				-				17,688				-				17,688
Investment securities available-for-sale			1,941,592				-				1,941,592				-				1,941,592
Investment securities held-to-maturity			798,284				-				776,130				-				776,130
Total loans, net of allowance for loan losses (1)			4,735,048				-				-				4,555,459				4,555,459
Swaps			1,645				-				1,645				-				1,645
Liabilities
Deposits:
Noninterest-bearing		$	4,062,691			$	4,062,691			$	-			$	-			$	4,062,691
Interest-bearing			2,646,744				-				2,643,627				-				2,643,627
Borrowings			487,277				-				486,924				-				486,924
Junior subordinated debentures			25,774				-				-				19,909				19,909
Swaps			1,645				-				1,645				-				1,645
		December 31, 2017
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and due from banks		$	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

(1) The fair value of loans as of March 31, 2018 was measured using an exit price notion.

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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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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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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

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-Publisher FASB
-Name Accounting Standards Codification
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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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-Topic 820
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