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Fair Value Information (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

		Carrying Value at March 31, 2019				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		$	1,422,504			$	-			$	1,422,504			$	-
CMO/REMIC - residential			205,125				-				205,125				-
Municipal bonds			45,085				-				45,085				-
Other securities			787				-				787				-
Total investment securities - AFS			1,673,501				-				1,673,501				-
Interest rate swaps			4,418				-				4,418				-
Total assets		$	1,677,919			$	-			$	1,677,919			$	-
Description of liability
Interest rate swaps		$	4,418			$	-			$	4,418			$	-
Total liabilities		$	4,418			$	-			$	4,418			$	-

		Carrying Value at December 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		$	1,474,508			$	-			$	1,474,508			$	-
CMO/REMIC - residential			214,051				-				214,051				-
Municipal bonds			44,810				-				44,810				-
Other securities			716				-				716				-
Total investment securities - AFS			1,734,085				-				1,734,085				-
Interest rate swaps			1,938				-				1,938				-
Total assets		$	1,736,023			$	-			$	1,736,023			$	-
Description of liability
Interest rate swaps		$	1,938			$	-			$	1,938			$	-
Total liabilities		$	1,938			$	-			$	1,938			$	-

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 March 31, 2019				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 Three Months Ended March 31, 2019
		(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial		$	116			$	-			$	-			$	116			$	114
SBA			1,377				-				-				1,377				338
Real estate:
Commercial real estate			-				-				-				-				-
Construction			-				-				-				-				-
SFR mortgage			-				-				-				-				-
Dairy & livestock and agribusiness			-				-				-				-				-
Consumer and other loans			-				-				-				-				-
Other real estate owned			-				-				-				-				-
Asset held-for-sale			-				-				-				-				-
Total assets		$	1,493			$	-			$	-			$	1,493			$	452

		Carrying Value at December 31, 2018				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, 2018
		(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial		$	189			$	-			$	-			$	189			$	3
SBA			-				-				-				-				-
Real estate:
Commercial real estate			3,143				-				-				3,143				478
Construction			-				-				-				-				-
SFR mortgage			-				-				-				-				-
Dairy & livestock and agribusiness			78				-				-				78				12
Consumer and other loans			68				-				-				68				68
Other real estate owned			-				-				-				-				-
Asset held-for-sale			-				-				-				-				-
Total assets		$	3,478			$	-			$	-			$	3,478			$	561

Estimated Fair Value of Financial Instruments

The following disclosure presents estimated fair value of our financial instruments. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to develop the estimates of fair value. Accordingly, the estimates presented below are not necessarily indicative of the amounts the Company may realize in a current market exchange as of March 31, 2019 and December 31, 2018, respectively. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

		March 31, 2019
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and cash equivalents		$	172,214			$	172,214			$	-			$	-			$	172,214
Interest-earning balances due from depository institutions			7,420				-				7,228				-				7,228
Investment securities available-for-sale			1,673,501				-				1,673,501				-				1,673,501
Investment securities held-to-maturity			733,464				-				720,651				-				720,651
Total loans, net of allowance for loan losses			7,541,662				-				-				7,506,350				7,506,350
Swaps			4,418				-				4,418				-				4,418
Liabilities
Deposits:
Interest-bearing		$	3,555,298			$	-			$	3,549,970			$	-			$	3,549,970
Borrowings			615,774				-				615,186				-				615,186
Junior subordinated debentures			25,774				-				-				21,016				21,016
Swaps			4,418				-				4,418				-				4,418

		December 31, 2018
						Estimated Fair Value
		Carrying Amount				Level 1				Level 2				Level 3				Total
		(Dollars in thousands)
Assets
Total cash and due from banks		$	163,948			$	163,948			$	-			$	-			$	163,948
Interest-earning balances due from depository institutions			7,670				-				7,339				-				7,339
Investment securities available-for-sale			1,734,085				-				1,734,085				-				1,734,085
Investment securities held-to-maturity			744,440				-				721,537				-				721,537
Total loans, net of allowance for loan losses			7,700,998				-				-				7,514,964				7,514,964
Swaps			1,938				-				1,938				-				1,938
Liabilities
Deposits:
Interest-bearing		$	3,622,703			$	-			$	3,614,682			$	-			$	3,614,682
Borrowings			722,255				-				721,601				-				721,601
Junior subordinated debentures			25,774				-				-				21,176				21,176
Swaps			1,938				-				1,938				-				1,938

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).

+ 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

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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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