Disclosures About Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Assets and liabilities measured at fair value on a recurring basis

	March 31, 2017
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	145,422	$	410,210	$	-	$	555,632
Correspondent interest rate swaps		-		932		-		932
Customer interest rate swaps		-		905		-		905
Correspondent interest rate caps and collars		-		104		-		104
Financial Liabilities:
Correspondent interest rate swaps	$	-	$	958	$	-	$	958
Customer interest rate swaps		-		932		-		932
Customer interest rate caps and collars		-		104		-		104

	December 31, 2016
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	112,881	$	161,738	$	-	$	274,619
Correspondent interest rate swaps		-		698		-		698
Customer interest rate swaps		-		1,307		-		1,307
Correspondent interest rate caps		-		5		-		5
Financial Liabilities:
Correspondent interest rate swaps	$	-	$	1,389	$	-	$	1,389
Customer interest rate swaps		-		698		-
Customer interest rate caps		-		5		-		5

Schedule of fair value of assets measured on a nonrecurring basis

	March 31, 2017
	Level 3		Total		Losses for the Quarter Ended  March 31, 2017
	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	28,907	$	28,907	$	7,625
Other real estate owned		-		-		-

	March 31, 2016
	Level 3		Total		Losses for the Quarter 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		-		-		-

Quantitative information about significant unobservable inputs used in the fair value measurements for Level 3 assets

The following table presents quantitative information about significant unobservable inputs used in the fair value measurements for Level 3 assets at the date indicated:

	Fair Value at 3/31/2017		Valuation Technique	Unobservable Input	Range (1) (Weighted Average)
	(Dollars in thousands)
Loans held for investment	$	3,036,835	Discounted cash flow	Prepayment Speed	0.07% to 100.00% (70.54%)
				Discount Rates	0.33% - 11.78% (3.74%)
Real estate acquired by foreclosure		1,356	Appraisal	Adjustments for comparable properties	8.00% - 12.55% (9.44%)

Represents range of factors applied to determine fair value.

Estimated fair values of the Company's financial instruments

	March 31, 2017
	Carrying Value		Level 1		Level 2		Level 3		Fair Value
	(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	255,581	$	255,581	$	-	$	-	$	255,581
Available-for-sale securities		555,632		145,422		410,210		-		555,632
Held-to-maturity securities		33,836		-		33,246		-		33,246
Other securities		18,391		18,391		-		-		18,391
Loans held for sale		17,350		17,350		-		-		17,350
Loans held for investment		3,012,275		-		-		3,036,835		3,036,835
Real estate acquired by foreclosure		1,356		-		-		1,356		1,356
Total	$	3,894,421	$	436,744	$	443,456	$	3,038,191	$	3,918,391
Financial Liabilities:
Deposits	$	3,416,138	$	-	$	3,416,066	$	-	$	3,416,066
Securities sold under agreements to repurchase		4,316		-		4,316		-		4,316
Other borrowed funds		150,000		-		149,440		-		149,440
Subordinated debentures and subordinated notes		47,304		-		47,304		-		47,304
Total	$	3,617,758	$	-	$	3,617,126	$	-	$	3,617,126

	December 31, 2016
	Carrying Value		Level 1		Level 2		Level 3		Fair Value
		(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	389,007	$	389,007	$	-	$	-	$	389,007
Available-for-sale securities		274,619		112,881		161,738		-		274,619
Held-to-maturity securities		35,505		-		34,845		-		34,845
Other securities		17,983		17,983		-		-		17,983
Loans held for sale		23,989		24,144		-		-		24,144
Loans held for investment		3,098,220		-		-		3,128,966		3,128,966
Real estate acquired by foreclosure		5,220		-		-		5,220		5,220
Total	$	3,844,543	$	544,015	$	196,583	$	3,134,186	$	3,874,784
Financial Liabilities:
Deposits	$	3,374,700	$	-	$	3,375,047	$	-	$	3,375,047
Securities sold under agreements to repurchase		3,493		-		3,493		-		3,493
Other borrowed funds		150,000		-		148,921		-		148,921
Subordinated debentures and subordinated notes		47,492		-		47,492		-		47,492
Total	$	3,575,685	$	-	$	3,574,953	$	-	$	3,574,953