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Fair Value Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2018
Fair Value Disclosures [Abstract] |
Assets Measured at Fair Value on a Recurring Basis | There were no liabilities measured at fair value on a recurring basis at September 30, 2018 and December 31, 2017.
(Dollars in thousands) |  | Fair Value Measurements Using |  |  | Total |
September 30, 2018 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | — |  |  | $ | 94,774 |  |  | $ | — |  |  | $ | 94,774 |
U.S. Treasury notes |  |  | — |  |  |  | 1,905 |  |  |  | — |  |  |  | 1,905 |
Mortgage-backed securities, residential |  |  | — |  |  |  | 30,581 |  |  |  | — |  |  |  | 30,581 |
Asset backed securities |  |  | — |  |  |  | 10,805 |  |  |  | — |  |  |  | 10,805 |
State and municipal |  |  | — |  |  |  | 144,062 |  |  |  | — |  |  |  | 144,062 |
Corporate bonds |  |  | — |  |  |  | 68,986 |  |  |  | — |  |  |  | 68,986 |
SBA pooled securities |  |  | — |  |  |  | 4,868 |  |  |  | — |  |  |  | 4,868 |
|  | $ | — |  |  | $ | 355,981 |  |  | $ | — |  |  | $ | 355,981 |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual fund |  | $ | 4,981 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,981 |
Loans held for sale |  | $ | — |  |  | $ | 683 |  |  | $ | — |  |  | $ | 683 |
(Dollars in thousands) |  | Fair Value Measurements Using |  |  | Total |
December 31, 2017 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | — |  |  | $ | 109,890 |  |  | $ | — |  |  | $ | 109,890 |
U.S. Treasury notes |  |  | — |  |  |  | 1,934 |  |  |  | — |  |  |  | 1,934 |
Mortgage-backed securities, residential |  |  | — |  |  |  | 33,663 |  |  |  | — |  |  |  | 33,663 |
Asset backed securities |  |  | — |  |  |  | 11,845 |  |  |  | — |  |  |  | 11,845 |
State and municipal |  |  | — |  |  |  | 74,391 |  |  |  | — |  |  |  | 74,391 |
Corporate bonds |  |  | — |  |  |  | 15,320 |  |  |  | — |  |  |  | 15,320 |
SBA pooled securities |  |  | — |  |  |  | 3,560 |  |  |  | — |  |  |  | 3,560 |
|  | $ | — |  |  | $ | 250,603 |  |  | $ | — |  |  | $ | 250,603 |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual fund |  | $ | 5,006 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,006 |
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, 2018 and December 31, 2017.
(Dollars in thousands) |  | Fair Value Measurements Using |  |  | Total |
September 30, 2018 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Impaired loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | — |  |  | $ | 5,450 |  |  | $ | 5,450 |
Construction, land development, land |  |  | — |  |  |  | — |  |  |  | 93 |  |  |  | 93 |
1-4 family residential properties |  |  | — |  |  |  | — |  |  |  | 98 |  |  |  | 98 |
Farmland |  |  | — |  |  |  | — |  |  |  | 842 |  |  |  | 842 |
Commercial |  |  | — |  |  |  | — |  |  |  | 2,124 |  |  |  | 2,124 |
Factored receivables |  |  | — |  |  |  | — |  |  |  | 4,925 |  |  |  | 4,925 |
Consumer |  |  | — |  |  |  | — |  |  |  | 63 |  |  |  | 63 |
PCI |  |  | — |  |  |  | — |  |  |  | 67 |  |  |  | 67 |
Other real estate owned (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | — |  |  |  | — |  |  |  | 819 |  |  |  | 819 |
|  | $ | — |  |  | $ | — |  |  | $ | 14,481 |  |  | $ | 14,481 |
(Dollars in thousands) |  | Fair Value Measurements Using |  |  | Total |
December 31, 2017 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Impaired loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | — |  |  | $ | 42 |  |  | $ | 42 |
1-4 family residential properties |  |  | — |  |  |  | — |  |  |  | 85 |  |  |  | 85 |
Commercial |  |  | — |  |  |  | — |  |  |  | 7,785 |  |  |  | 7,785 |
Factored receivables |  |  | — |  |  |  | — |  |  |  | 3,777 |  |  |  | 3,777 |
Consumer |  |  | — |  |  |  | — |  |  |  | 191 |  |  |  | 191 |
Other real estate owned (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | — |  |  |  | — |  |  |  | 138 |  |  |  | 138 |
Construction, land development, land |  |  | — |  |  |  | — |  |  |  | 202 |  |  |  | 202 |
|  | $ | — |  |  | $ | — |  |  | $ | 12,220 |  |  | $ | 12,220 |
(1) Represents the fair value of OREO that was adjusted during the year to date 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, 2018 and December 31, 2017 were as follows:
(Dollars in thousands) |  | Carrying |  |  | Fair Value Measurements Using |  |  | Total |
September 30, 2018 |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 282,409 |  |  | $ | 282,409 |  |  | $ | — |  |  | $ | — |  |  | $ | 282,409 |
Securities - held to maturity |  |  | 8,403 |  |  |  | — |  |  |  | — |  |  |  | 8,094 |  |  |  | 8,094 |
Loans not previously presented, gross |  |  | 3,494,184 |  |  |  | — |  |  |  | — |  |  |  | 3,432,384 |  |  |  | 3,432,384 |
FHLB stock |  |  | 23,109 |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Accrued interest receivable |  |  | 20,141 |  |  |  | 20,141 |  |  |  | — |  |  |  | — |  |  |  | 20,141 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 3,439,049 |  |  |  | — |  |  |  | 3,428,722 |  |  |  | — |  |  |  | 3,428,722 |
Customer repurchase agreements |  |  | 13,248 |  |  |  | — |  |  |  | 13,248 |  |  |  | — |  |  |  | 13,248 |
Federal Home Loan Bank advances |  |  | 330,000 |  |  |  | — |  |  |  | 330,000 |  |  |  | — |  |  |  | 330,000 |
Subordinated notes |  |  | 48,903 |  |  |  | — |  |  |  | 51,125 |  |  |  | — |  |  |  | 51,125 |
Junior subordinated debentures |  |  | 38,966 |  |  |  | — |  |  |  | 41,057 |  |  |  | — |  |  |  | 41,057 |
Accrued interest payable |  |  | 6,072 |  |  |  | 6,072 |  |  |  | — |  |  |  | — |  |  |  | 6,072 |
(Dollars in thousands) |  | Carrying |  |  | Fair Value Measurements Using |  |  | Total |
December 31, 2017 |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 134,129 |  |  | $ | 134,129 |  |  | $ | — |  |  | $ | — |  |  | $ | 134,129 |
Securities - held to maturity |  |  | 8,557 |  |  |  | — |  |  |  | — |  |  |  | 7,527 |  |  |  | 7,527 |
Loans not previously presented, net |  |  | 2,780,228 |  |  |  | — |  |  |  | — |  |  |  | 2,800,362 |  |  |  | 2,800,362 |
Loans included in assets held for sale, net |  |  | 68,668 |  |  |  | — |  |  |  | — |  |  |  | 69,268 |  |  |  | 69,268 |
FHLB stock |  |  | 16,006 |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Accrued interest receivable |  |  | 15,517 |  |  |  | 15,517 |  |  |  | — |  |  |  | — |  |  |  | 15,517 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 2,621,348 |  |  |  | — |  |  |  | 2,616,034 |  |  |  | — |  |  |  | 2,616,034 |
Customer repurchase agreements |  |  | 11,488 |  |  |  | — |  |  |  | 11,488 |  |  |  | — |  |  |  | 11,488 |
Federal Home Loan Bank advances |  |  | 365,000 |  |  |  | — |  |  |  | 365,000 |  |  |  | — |  |  |  | 365,000 |
Subordinated notes |  |  | 48,828 |  |  |  | — |  |  |  | 52,310 |  |  |  | — |  |  |  | 52,310 |
Junior subordinated debentures |  |  | 38,623 |  |  |  | — |  |  |  | 41,563 |  |  |  | — |  |  |  | 41,563 |
Accrued interest payable |  |  | 3,323 |  |  |  | 3,323 |  |  |  | — |  |  |  | — |  |  |  | 3,323 |

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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