Disclosures About Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Assets and liabilities measured at fair value on a recurring basis

	March 31, 2016
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	75,047	$	187,769	$	-	$	262,816
Customer interest rate swaps		-		3,152		-		3,152
Correspondent interest rate caps		-		7		-		7
Financial Liabilities:
Correspondent interest rate swaps	$	-	$	3,321	$	-	$	3,321
Customer interest rate caps		-		7		-		7

	December 31, 2015
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	74,974	$	201,047	$	-	$	276,021
Customer interest rate swaps		-		1,528		-		1,528
Correspondent interest rate caps		-		25		-		25
Financial Liabilities:
Correspondent interest rate swaps	$	-	$	1,612	$	-	$	1,612
Customer interest rate caps		-		25		-		25

Schedule of fair value of assets measured on a nonrecurring basis

	March 31, 2016
	Level 3		Total		Losses for the Three Months Ended  March 31, 2016
	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	38,482	$	38,482	$	3,704
Other real estate owned		-		-		-

	March 31, 2015
	Level 3		Total		Losses for the Three Months Ended  March 31, 2015
	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	2,467	$	2,467	$	323
Other real estate owned		-		-		-

Estimated fair values of the Company's financial instruments

	March 31, 2016
	Carrying Value		Level 1		Level 2		Level 3		Fair Value
	(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	171,421	$	171,421	$	-	$	-	$	171,421
Available-for-sale securities		262,816		75,047		187,769		-		262,816
Held-to-maturity securities		40,022		-		40,095		-		40,095
Other securities		24,078		24,078		-		-		24,078
Loans held for sale		-		-		-		-		-
Loans held for investment		3,168,183		-		-		3,195,387		3,195,387
Real estate acquired by foreclosure		9,230		-		-		9,230		9,230
Total	$	3,675,750	$	270,546	$	227,864	$	3,204,617	$	3,703,027
Financial Liabilities:
Deposits	$	3,057,019	$	-	$	3,066,745	$	-	$	3,066,745
Securities sold under agreements to repurchase		3,544		-		3,544		-		3,544
Other borrowed funds		328,968		-		328,077		-		328,077
Subordinated debentures		13,292				13,292				13,292
Total	$	3,402,823	$	-	$	3,411,658	$	-	$	3,411,658

	December 31, 2015
	Carrying Value		Level 1		Level 2		Level 3		Fair Value
		(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	124,906	$	124,906	$	-	$	-	$	124,906
Available-for-sale securities		276,021		74,974		201,047		-		276,021
Held-to-maturity securities		42,130		-		41,996		-		41,996
Other securities		20,320		20,320		-		-		20,320
Loans held for sale		384		384		-		-		384
Loans held for investment		3,130,669		-		-		3,147,615		3,147,615
Real estate acquired by foreclosure		12,122		-		-		12,122		12,122
Total	$	3,606,552	$	220,584	$	243,043	$	3,159,737	$	3,623,364
Financial Liabilities:
Deposits	$	3,100,748	$	-	$	3,100,748	$	-	$	3,100,748
Securities sold under agreements to repurchase		3,073		-		3,073		-		3,073
Other borrowed funds		223,265		-		221,104		-		221,104
Subordinated debentures		13,187		-		13,187		-		13,187
Total	$	3,340,273	$	-	$	3,338,112	$	-	$	3,338,112