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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2016
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | As of June 30, 2016 and December 31, 2015, assets and liabilities measured at fair value on a recurring basis are as follows:
| Level 1 |  | Level 2 |  | Level 3 |  |
| Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs with No Active Market with Identical Characteristics |  | Significant Unobservable Inputs |  | Balance
| (in thousands)
June 30, 2016 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
Mortgage-backed securities | $ | — |  |  | $ | 266,275 |  |  | $ | — |  |  | $ | 266,275 |
Collateralized mortgage obligations | — |  |  | 86,141 |  |  | — |  |  | 86,141 |
U.S. government agency securities | — |  |  | 15,544 |  |  | — |  |  | 15,544 |
SBA loan pools securities | — |  |  | 56,425 |  |  | — |  |  | 56,425 |
Municipal bonds-tax exempt | — |  |  | 169,426 |  |  | — |  |  | 169,426 |
Municipal bonds-taxable | — |  |  | 14,092 |  |  | — |  |  | 14,092 |
Corporate bonds | — |  |  | 5,001 |  |  | — |  |  | 5,001 |
U.S. treasury securities | 158 |  |  | — |  |  | — |  |  | 158 |
Mutual funds | 23,213 |  |  | — |  |  | — |  |  | 23,213 |
Total securities available for sale | $ | 23,371 |  |  | $ | 612,904 |  |  | $ | — |  |  | $ | 636,275 |
December 31, 2015 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
Mortgage-backed securities | $ | — |  |  | $ | 284,381 |  |  | $ | — |  |  | $ | 284,381 |
Collateralized mortgage obligations | — |  |  | 96,986 |  |  | — |  |  | 96,986 |
U.S. government agency securities | — |  |  | 47,822 |  |  | — |  |  | 47,822 |
SBA loan pools securities | — |  |  | 63,266 |  |  | — |  |  | 63,266 |
Municipal bonds-tax exempt | — |  |  | 163,902 |  |  | — |  |  | 163,902 |
Municipal bonds-taxable | — |  |  | 14,033 |  |  | — |  |  | 14,033 |
Corporate bonds | — |  |  | 4,993 |  |  | — |  |  | 4,993 |
U.S. treasury securities | 160 |  |  | — |  |  | — |  |  | 160 |
Mutual funds | 22,753 |  |  | — |  |  | — |  |  | 22,753 |
Total securities available for sale | $ | 22,913 |  |  | $ | 675,383 |  |  | $ | — |  |  | $ | 698,296 |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | As of June 30, 2016 and December 31, 2015, assets and liabilities measured at fair value on a non-recurring basis are as follows:
| Level 1 |  | Level 2 |  | Level 3 |  |
| Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs With No Active Market With Identical Characteristics |  | Significant Unobservable Inputs |  | Loss During the Six Months Ended June 30, 2016
| (in thousands)
June 30, 2016 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Impaired loans (excluding PCI loans) (1) | $ | — |  |  | $ | 15,097 |  |  | $ | 2,503 |  |  | $ | 63 |
OREO (2) | $ | — |  |  | $ | 11,846 |  |  | $ | — |  |  | $ | — |
| Level 1 |  | Level 2 |  | Level 3 |  |
| Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs With No Active Market With Identical Characteristics |  | Significant Unobservable Inputs |  | Loss During the Twelve Months Ended December 31, 2015
| (in thousands)
December 31, 2015 |  |  |
Assets: |  |  |  |  |  |  |
Impaired loans (excluding PCI loans) (3) | $ | — |  |  | $ | 29,595 |  |  | $ | 1,044 |  |  | $ | 2,756 |
OREO (4) | $ | — |  |  | $ | 8,511 |  |  | $ | — |  |  | $ | — |
(1) | Consists of real estate loans of $16.4 million, commercial and industrial loans of $500 thousand and consumer loans of $700 thousand.
(2) | Consists of properties obtained from the foreclosure of commercial property loans of $9.1 million and residential property loans of $2.7 million.
(3) | Consists of real estate loans of $27.9 million, commercial and industrial loans of $1.0 million, and consumer loans of $1.7 million.
(4) | Consists of properties obtained from the foreclosure of commercial property loans of $6.6 million and residential property loans of $1.9 million.
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows:
| June 30, 2016
| Carrying |  | Fair Value
| Amount |  | Level 1 |  | Level 2 |  | Level 3
| (in thousands)
Financial assets: |  |  |  |  |  |  |
Cash and due from banks | $ | 156,632 |  |  | $ | 156,632 |  |  | $ | — |  |  | $ | — |
Securities available for sale | 636,275 |  |  | 23,371 |  |  | 612,904 |  |  | — |
Loans receivable, net of allowance for loan losses | 3,409,603 |  |  | — |  |  | — |  |  | 3,408,864 |
Loans held for sale | 12,833 |  |  | — |  |  | 12,833 |  |  | — |
Accrued interest receivable | 10,552 |  |  | 10,552 |  | 10,626 |  | — |  |  | — |
FHLB stock | 16,385 |  |  | — |  |  | 16,385 |  |  | — |
FRB stock | 14,423 |  |  | — |  |  | 14,423 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |
Noninterest-bearing deposits | 1,189,528 |  |  | — |  |  | 1,189,528 |  |  | — |
Interest-bearing deposits | 2,399,761 |  |  | — |  |  | — |  |  | 2,445,442 |
Borrowings | 298,821 |  |  | — |  |  | — |  |  | 298,821 |
Accrued interest payable | 3,107 |  |  | 3,107 |  |  | — |  |  | — |
Off-balance sheet items: |  |  |  |  |  |  |
Commitments to extend credit | 272,884 |  |  | — |  |  | — |  |  | 272,884 |
Standby letters of credit | 7,658 |  |  | — |  |  | — |  |  | 7,658 |
Commercial letters of credit | 5,524 |  |  | — |  |  | — |  |  | 5,524 |
| December 31, 2015
| Carrying |  | Fair Value
| Amount |  | Level 1 |  | Level 2 |  | Level 3
| (in thousands)
Financial assets: |  |  |  |  |  |  |
Cash and due from banks | $ | 164,364 |  |  | $ | 164,364 |  |  | $ | — |  |  | $ | — |
Securities available for sale | 698,296 |  |  | 22,913 |  |  | 675,383 |  |  | — |
Loans receivable, net of allowance for loan losses | 3,140,381 |  |  | — |  |  | — |  |  | 3,127,172 |
Loans held for sale | 2,874 |  |  | — |  |  | 2,874 |  |  | — |
Accrued interest receivable | 9,501 |  |  | 9,501 |  |  | — |  |  | — |
FHLB stock | 16,385 |  |  | — |  |  | 16,385 |  |  | — |
FRB stock | 14,098 |  |  | — |  |  | 14,098 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |
Noninterest-bearing deposits | 1,155,518 |  |  | — |  |  | 1,155,518 |  |  | — |
Interest-bearing deposits | 2,354,458 |  |  | — |  |  | — |  |  | 2,329,335 |
Borrowings | 188,703 |  |  | — |  |  | — |  |  | 188,703 |
Accrued interest payable | 3,177 |  |  | 3,177 |  |  | — |  |  | — |
Off-balance sheet items: |  |  |  |  |  |  |
Commitments to extend credit | 262,680 |  |  | — |  |  | — |  |  | 262,680 |
Standby letters of credit | 6,839 |  |  | — |  |  | — |  |  | 6,839 |
Commercial letters of credit | 4,018 |  |  | — |  |  | — |  |  | 4,018 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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