FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Of Financial Instruments Tables

Schedule of assets measured at fair value on recurring and non - recurring basis

The following tables present information on the assets measured and recorded at fair value on a recurring and nonrecurring basis at and for the year ended December 31, 2012.

			Financial Assets Measured at Fair Value on a Recurring Basis at December 31, 2012, Using
	Fair value at December 31, 2012		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(in thousands)
U.S. Treasury notes/bills	$	8,011	$	—	$	8,011	$	—
U.S. government agency notes		32,608		—		32,608		—
U.S. government agency mortgage-backed securities		166,749		—		166,749		—
U.S. government agency collateralized mortgage obligations		163,054		—		163,054		—
Municipal securities		7,892		—		7,892		—
Other domestic debt securities		2,727		—		—		2,727
Interest rate caps		106		—		106		—
Total assets measured at fair value	$	381,147	$	—	$	378,420	$	2,727

			Financial Assets Measured at Fair Value on a Non-Recurring Basis at December 31, 2012, Using
	Fair value at December 31, 2012		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total losses
	(in thousands)
Non-covered impaired loans	$	13,472	$	—	$	—	$	13,472	$	(524	)
Non-covered foreclosed property		14,895		—		—		14,895		(1,732	)
Covered foreclosed property		3,900		—		—		3,900		—
Total assets measured at fair value	$	32,267	$	—	$	—	$	32,267	$	(2,256	)

The following tables present information on the assets measured and recorded at fair value on a recurring and nonrecurring basis at and for the year ended December 31, 2011. 

			Financial Assets Measured at Fair Value on a Recurring Basis at December 31, 2011, Using
	Fair value at December 31, 2011		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(in thousands)
U.S. Treasury notes/bills	$	45,161	$	—	$	45,161	$	—
U.S. government agency notes		59,446		—		59,446		—
U.S. government agency mortgage-backed securities		133,675		—		133,675		—
U.S. government agency collateralized mortgage obligations		168,174		—		168,174		—
Private label collateralized mortgage obligations		13,042		—		13,042		—
Municipal securities		29,325		—		29,325		—
Other domestic debt securities		4,912		—		2,384		2,528
Interest rate caps		466		—		466		—
Total assets measured at fair value	$	454,201	$	—	$	451,673	$	2,528

			Financial Assets Measured at Fair Value on a Non-Recurring Basis at December 31, 2011, Using
	Fair value at December 31, 2011		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total losses
	(in thousands)
Non-covered impaired loans	$	8,066	$	—	$	—	$	8,066	$	(622	)
Non-covered foreclosed property		20,349		—		—		20,349		(5,784	)
Covered foreclosed property		14,616		—		—		14,616		(455	)
Total assets measured at fair value	$	43,031	$	—	$	—	$	43,031	$	(6,861	)

Schedule of estimated fair value, carrying amount of company's financial instruments

The following tables estimate fair values and the related carrying amounts of the Company’s financial instruments:

			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	Carrying		Assets		Inputs		Inputs		Fair
As of December 31, 2012	Amount		(Level 1)		(Level 2)		(Level 3)		Value
	(in thousands)
Financial assets:
Cash, due from banks and interest-bearing deposits with other banks	$	166,874	$	166,874	$	−	$	−	$	116,874
Securities available-for-sale		381,041		−		378,314		2,727		381,041
FHLB and other stock		10,784		−		−		10,784		10,784
Bank owned life insurance assets		13,097		13,097		−		−		13,097
Non-covered loans, net		1,061,193		−		−		966,505		966,505
Covered loans		102,431		−		−		116,141		116,141
FDIC shared-loss asset		45,345		−		−		24,129		24,129
Interest rate cap		106		−		−		106		106
Financial liabilities:
Demand deposits, money market and savings		1,239,272	$	1,239,272	$	−	$	−		1,239,272
Time certificates of deposit		268,560		−		270,778		−		270,778
FHLB advances and other borrowings		107,054		−		110,767		−		110,767
Junior subordinated debentures		26,805		−		−		14,462		14,462
FDIC shared-loss liability		3,900		−		−		3,900		3,900

			Quoted
			Prices in
			Active			Significant
			Markets for			Other		Significant
			Identical			Observable		Unobservable
	Carrying		Assets			Inputs		Inputs		Fair
As of December 31, 2011	Amount		(Level 1)		(Level 2)			(Level 3)		Value
	(in thousands)
Financial assets:
Cash, due from banks and interest-bearing deposits with other banks	$	61,432	$	61,432		$	−	$	−	$	61,432
Securities available-for-sale		453,735		−			451,207		2,528		453,735
FHLB and other stock		11,567		−			−		11,567		11,567
Bank owned life insurance assets		12,670		12,670			−		−		12,670
Non-covered loans, net		918,356		−			−		822,081		822,081
Covered loans		135,412		−			−		137,147		137,147
FDIC shared-loss asset		68,083		−			−		68,083		68,083
Interest rate cap		466		−			−		466		466
Financial liabilities:
Demand deposits, money market and savings		1,075,233	$	1,075,233		$	−	$	−		1,075,233
Time certificates of deposit		350,036		−			351,815		−		351,815
FHLB advances and other borrowings		117,719		−			123,375		−		123,375
Junior subordinated debentures		26,805		−			−		14,173		14,173
FDIC shared-loss liability		3,757		−			−		3,757		3,757