Fair Value (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value

Schedule of financial assets and liabilities measured on a recurring basis

			Fair Value Measurements Using
					Significant
			Quoted Prices in		Other		Significant
			Active Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
	Balance		(Level 1)		(Level 2)		(Level 3)
	(Dollars in thousands)
Assets at December 31, 2019
Available-for-sale securities:
Agency mortgage-backed securities	$	284,361		—	$	284,361		—
U.S. Treasury		120,464		120,464		—		—
I/O strip receivables		503		—		503		—
Assets at December 31, 2018
Available-for-sale securities:
Agency mortgage-backed securities	$	302,854		—	$	302,854		—
U.S. Treasury		148,753		148,753		—		—
U.S. Government sponsored entities		7,436		—		7,436		—
I/O strip receivables		568		—		568		—

Schedule of assets and liabilities measured on a non-recurring basis

			Fair Value Measurements Using
				Significant
			Quoted Prices in	Other	Significant
			Active Markets for	Observable	Unobservable
			Identical Assets	Inputs	Inputs
	Balance		(Level 1)	(Level 2)	(Level 3)
	(Dollars in thousands)
Assets at December 31, 2019
Impaired loans - held-for-investment:
Commercial	$	862	—	—	$	862
	$	862	—	—	$	862
Assets at December 31, 2018
Impaired loans - held-for-investment:
Commercial	$	702	—	—	$	702
	$	702	—	—	$	702

Schedule of impaired loans held-for-investment and impaired loans held-for-investment carried at fair value

	December 31, 2019		December 31, 2018
	(Dollars in thousands)
Impaired loans held-for-investment:
Book value of impaired loans held-for-investment carried at fair value	$	2,697	$	7,646
Book value of impaired loans held-for-investment carried at cost		7,567		7,494
Total impaired loans held-for-investment	$	10,264	$	15,140
Impaired loans held-for-investment carried at fair value:
Book value of impaired loans held-for-investment carried at fair value	$	2,697	$	7,646
Specific valuation allowance		(1,835)		(6,944)
Impaired loans held-for-investment carried at fair value, net	$	862	$	702

Schedule of quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis

	December 31, 2019
			Valuation	Unobservable	Range
	Fair Value		Techniques	Inputs	(Weighted Average)
	(Dollars in thousands)
Impaired loans - held-for-investment:
Commercial	$	862	Market Approach	Discount adjustment for differences between comparable sales	Less than 1%

	December 31, 2018
			Valuation	Unobservable	Range
	Fair Value		Techniques	Inputs	(Weighted Average)
	(Dollars in thousands)
Impaired loans - held-for-investment:
Commercial	$	702	Market Approach	Discount adjustment for differences between comparable sales	0% to 1%

Schedule of carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of financial instruments at December 31, 2019 are as follows:

			Estimated Fair Value
					Significant
			Quoted Prices in		Other		Significant
			Active Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
	Amounts		(Level 1)		(Level 2)		(Level 3)		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	457,370	$	457,370	$	—	$	—	$	457,370
Securities available-for-sale		404,825		120,464		284,361		—		404,825
Securities held-to-maturity		366,560		—		368,107		—		368,107
Loans (including loans held-for-sale), net		2,511,611		—		1,052		2,512,277		2,513,329
FHLB stock, FRB stock, and other
investments		29,842		—		—		—		N/A
Accrued interest receivable		10,915		446		2,218		8,251		10,915
I/O strips receivables		503		—		503		—		503
Liabilities:
Time deposits	$	168,034	$	—	$	158,704	$	—	$	158,704
Other deposits		3,246,734		—		3,246,734		—		3,246,734
Subordinated debt		39,554		—		40,404		—		40,404
Accrued interest payable		707		—		707		—		707

The carrying amounts and estimated fair values of financial instruments at December 31, 2018 are as follows:

				Estimated Fair Value
						Significant
			Quoted Prices in			Other		Significant
			Active Markets for			Observable		Unobservable
	Carrying		Identical Assets			Inputs		Inputs
	Amounts		(Level 1)			(Level 2)		(Level 3)		Total
		(Dollars in thousands)
Assets:
Cash and cash equivalents	$	164,568	$		164,568	$	—	$	—	$	164,568
Securities available-for-sale		459,043			148,753		310,290		—		459,043
Securities held-to-maturity		377,198			—		366,175		—		366,175
Loans (including loans held-for-sale), net		1,861,206			—		2,649		1,826,654		1,829,303
FHLB stock, FRB stock, and other
investments		25,216			—		—		—		N/A
Accrued interest receivable		9,577			597		2,274		6,706		9,577
I/O strips receivables		568			—		568		—		568
Liabilities:
Time deposits	$	147,560	$		—	$	147,916	$	—	$	147,916
Other deposits		2,489,972			—		2,489,972		—		2,489,972
Subordinated debt		39,369			—		38,969		—		38,969
Accrued interest payable		497			—		497		—		497