XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.19.1

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | As of March 31, 2019 and December 31, 2018, 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)
March 31, 2019 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
U.S. Treasury securities | $ | 54,728 |  |  | $ | — |  |  | $ | — |  |  | $ | 54,728 |
U.S. government agency and sponsored agency obligations: |  |  |  |  |  |  |
Mortgage-backed securities | — |  |  | 354,601 |  |  | — |  |  | 354,601 |
Collateralized mortgage obligations | — |  |  | 152,027 |  |  | — |  |  | 152,027 |
Debt securities | — |  |  | 17,493 |  |  | — |  |  | 17,493 |
Total U.S. government agency and sponsored agency obligations | — |  |  | 524,121 |  |  | — |  |  | 524,121 |
Municipal bonds-tax exempt | — |  |  | 42,621 |  |  | — |  |  | 42,621 |
Total securities available for sale | $ | 54,728 |  |  | $ | 566,742 |  |  | $ | — |  |  | $ | 621,470 |
December 31, 2018 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
U.S. Treasury securities | $ | 39,830 |  |  | $ | — |  |  | $ | — |  |  | $ | 39,830 |
U.S. government agency and sponsored agency obligations: |  |  |  |  |  |  |
Mortgage-backed securities | — |  |  | 295,034 |  |  | — |  |  | 295,034 |
Collateralized mortgage obligations | — |  |  | 122,292 |  |  | — |  |  | 122,292 |
Debt securities | — |  |  | 7,402 |  |  | — |  |  | 7,402 |
Total U.S. government agency and sponsored agency obligations | — |  |  | 424,728 |  |  | — |  |  | 424,728 |
Municipal bonds-tax exempt | — |  |  | 110,350 |  |  | — |  |  | 110,350 |
Total securities available for sale | $ | 39,830 |  |  | $ | 535,078 |  |  | $ | — |  |  | $ | 574,908 |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | As of March 31, 2019 and December 31, 2018, 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 Three Months Ended March 31, 2019
| (in thousands)
March 31, 2019 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Impaired loans (1) | $ | — |  |  | $ | 2,923 |  |  | $ | 18,720 |  |  | $ | 2,973 |
OREO | — |  |  | 622 |  |  | — |  |  | — |
|  |  |  |  |  |  | Loss During the Three Months Ended March 31, 2018
December 31, 2018 |  |  |
Assets: |  |  |  |  |  |  |
Impaired loans (2) | $ | — |  |  | $ | 3,253 |  |  | $ | 1,957 |  |  | $ | 456 |
OREO | — |  |  | 663 |  |  | — |  |  | — |
(1) | Consist of real estate loans of $3.0 million and commercial and industrial loans of $18.7 million.
(2) | Consist of real estate loans of $3.5 million, commercial and industrial loans of $1.7 million.
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows:
| March 31, 2019
| Carrying |  | Fair Value
| Amount |  | Level 1 |  | Level 2 |  | Level 3
| (in thousands)
Financial assets: |  |  |  |  |  |  |
Cash and due from banks | $ | 169,830 |  |  | $ | 169,830 |  |  | $ | — |  |  | $ | — |
Securities available for sale | 621,470 |  |  | 54,728 |  |  | 566,742 |  |  | — |
Loans held for sale | 7,140 |  |  | — |  |  | 7,576 |  |  | — |
Loans and leases receivable, net of allowance for loan and lease losses | 4,542,724 |  |  | — |  |  | — |  |  | 4,522,306 |
Accrued interest receivable | 13,397 |  |  | 13,397 |  |  | — |  |  | — |
FHLB stock | 16,385 |  |  | — |  |  | 16,385 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |
Noninterest-bearing deposits | 1,316,114 |  |  | — |  |  | 1,316,114 |  |  | — |
Interest-bearing deposits | 3,504,061 |  |  | — |  |  | — |  |  | 3,514,296 |
Subordinated debentures | 117,947 |  |  | — |  |  | 117,459 |  |  | — |
Accrued interest payable | 14,437 |  |  | 14,437 |  |  | — |  |  | — |
Off-balance sheet items: |  |  |  |  |  |  |
Commitments to extend credit | 270,051 |  |  | — |  |  | — |  |  | 270,051 |
Standby letters of credit | 30,597 |  |  | — |  |  | — |  |  | 30,597 |
Commercial letters of credit | 11,920 |  |  | — |  |  | — |  |  | 11,920 |
| December 31, 2018
| Carrying |  | Fair Value
| Amount |  | Level 1 |  | Level 2 |  | Level 3
| (in thousands)
Financial assets: |  |  |  |  |  |  |
Cash and due from banks | $ | 155,376 |  |  | $ | 155,376 |  |  | $ | — |  |  | $ | — |
Securities available for sale | 574,908 |  |  | 39,830 |  |  | 535,078 |  |  | — |
Loans held for sale | 9,390 |  |  | — |  |  | 9,905 |  |  | — |
Loans and leases receivable, net of allowance for loan and lease losses | 4,568,566 |  |  | — |  |  | — |  |  | 4,518,716 |
Accrued interest receivable | 13,331 |  |  | 13,331 |  |  | — |  |  | — |
FHLB stock | 16,385 |  |  | — |  |  | 16,385 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |
Noninterest-bearing deposits | 1,284,530 |  |  | — |  |  | 1,284,530 |  |  | — |
Interest-bearing deposits | 3,462,705 |  |  | — |  |  | — |  |  | 3,458,523 |
Borrowings and subordinated debentures | 172,808 |  |  | — |  |  | 98,020 |  |  | 54,939 |
Accrued interest payable | 11,379 |  |  | 11,379 |  |  | — |  |  | — |
Off-balance sheet items: |  |  |  |  |  |  |
Commitments to extend credit | 325,100 |  |  | — |  |  | — |  |  | 325,100 |
Standby letters of credit | 32,500 |  |  | — |  |  | — |  |  | 32,500 |
Commercial letters of credit | 13,848 |  |  | — |  |  | — |  |  | 13,848 |

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 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
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 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 (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration