Fair Value (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31, 2020
Available-for-sale securities:
Agency mortgage-backed securities	$	251,836		—	$	251,836		—
U.S. Treasury		121,734		121,734		—		—
I/O strip receivables		458		—		458		—
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		—

Schedule of carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of financial instruments at March 31, 2020 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	$	443,397	$	443,397	$	—	$	—	$	443,397
Securities available-for-sale		373,570		121,734		251,836		—		373,570
Securities held-to-maturity		348,044		—		356,153		—		356,153
Loans (including loans held-for-sale), net		2,511,623		—		2,415		2,494,661		2,497,076
FHLB stock, FRB stock, and other
investments		33,339		—		—		—		N/A
Accrued interest receivable		10,231		616		1,997		7,618		10,231
I/O strips receivables		458		—		458		—		458
Liabilities:
Time deposits	$	150,238	$	—	$	150,728	$	—	$	150,728
Other deposits		3,216,401		—		3,216,401		—		3,216,401
Subordinated debt		39,600		—		38,100		—		38,100
Accrued interest payable		1,198		—		1,198		—		1,198

The carrying amounts and estimated fair values of the Company’s financial instruments at December 31, 2019:

`			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