Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2016

Assets Measured at Fair Value on a Recurring Basis

There were no liabilities measured at fair value on a recurring basis at September 30, 2016 and December 31, 2015.

(Dollars in thousands)	Fair Value Measurements Using						Total
September 30, 2016	Level 1		Level 2		Level 3		Fair Value
Securities available for sale	$	—	$	286,574	$	—	$	286,574
Loans held for sale		—		9,623		—		9,623

(Dollars in thousands)	Fair Value Measurements Using						Total
December 31, 2015	Level 1		Level 2		Level 3		Fair Value
Securities available for sale	$	—	$	163,169	$	—	$	163,169
Loans held for sale		—		1,341		—		1,341

Fair Value of Assets Measured on Non-recurring Basis

There were no liabilities measured at fair value on a non-recurring basis at September 30, 2016 and December 31, 2015.

(Dollars in thousands)	Fair Value Measurements Using						Total
September 30, 2016	Level 1		Level 2		Level 3		Fair Value
Impaired loans
Commercial real estate	$	—	$	—	$	417	$	417
Construction, land development, land		—		—		251		251
1-4 family residential properties		—		—		8		8
Commercial		—		—		4,178		4,178
Factored receivables		—		—		1,495		1,495
PCI		—		—		1,001		1,001
Other real estate owned⁽¹⁾
Commercial		—		—		698		698
Construction, land development, land		—		—		253		253
1-4 family residential properties		—		—		254		254
	$	—	$	—	$	8,555	$	8,555

(Dollars in thousands)	Fair Value Measurements Using						Total
December 31, 2015	Level 1		Level 2		Level 3		Fair Value
Impaired loans
Commercial real estate	$	—	$	—	$	431	$	431
1-4 family residential properties		—		—		13		13
Commercial		—		—		695		695
Factored receivables		—		—		1,156		1,156
PCI		—		—		170		170
Other real estate owned⁽¹⁾
1-4 family residential properties		—		—		128		128
Construction, land development, land		—		—		1,377		1,377
	$	—	$	—	$	3,970	$	3,970

⁽¹⁾ Represents the fair value of OREO that was adjusted during the period and subsequent to its initial classification as OREO

Estimated Fair Value of Company's Financial Assets and Financial Liabilities

The estimated fair values of the Company’s financial instruments not measured at fair value on a recurring or non-recurring basis at September 30, 2016 and December 31, 2015 were as follows:

(Dollars in thousands)	Carrying		Fair Value Measurements Using						Total
September 30, 2016	Amount		Level 1		Level 2		Level 3		Fair Value
Financial assets:
Cash and cash equivalents	$	104,725	$	104,725	$	—	$	—	$	104,725
Securities - held to maturity		29,316		—		27,506		3,343		30,849
Loans not previously presented, net		1,937,593		—		—		1,952,626		1,952,626
FHLB stock		8,397	N/A		N/A		N/A		N/A
Accrued interest receivable		12,858		—		12,858		—		12,858

Financial liabilities:
Deposits		1,950,677		—		1,952,972		—		1,952,972
Customer repurchase agreements		15,329		—		15,329		—		15,329
Federal Home Loan Bank advances		230,000		—		229,997		—		229,997
Junior subordinated debentures		32,640		—		30,844		—		30,844
Subordinated notes		48,676		—		50,000		—		50,000
Accrued interest payable		1,613		—		1,613		—		1,613

(Dollars in thousands)	Carrying		Fair Value Measurements Using						Total
December 31, 2015	Amount		Level 1		Level 2		Level 3		Fair Value
Financial assets:
Cash and cash equivalents	$	105,277	$	105,277	$	—	$	—	$	105,277
Loans not previously presented, net		1,276,853		—		—		1,281,408		1,281,408
FHLB stock		3,818	N/A		N/A		N/A		N/A
Accrued interest receivable		4,832		—		4,832		—		4,832

Financial liabilities:
Deposits		1,248,950		—		1,249,751		—		1,249,751
Customer repurchase agreements		9,317		—		9,317		—		9,317
Federal Home Loan Bank advances		130,000		—		130,000		—		130,000
Junior subordinated debentures		24,687		—		23,153		—		23,153
Accrued interest payable		1,231		—		1,231		—		1,231