Disclosures About Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2017

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Assets and liabilities measured at fair value on a recurring basis

	June 30, 2017
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	-	$	687,100	$	-	$	687,100
Correspondent interest rate swaps		-		704		-		704
Customer interest rate swaps		-		890		-		890
Correspondent interest rate caps and collars		-		52		-		52
Financial Liabilities:
Correspondent interest rate swaps	$	-	$	933	$	-	$	933
Customer interest rate swaps		-		676		-		676
Customer interest rate caps and collars		-		58		-		58

	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		-		698
Customer interest rate caps		-		5		-		5

Schedule of fair value of assets measured on a nonrecurring basis

	June 30, 2017
	Level 3		Total		Losses for the Six Months Ended  June 30, 2017
	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	26,265	$	26,265	$	7,152
Other real estate owned		-		-		-

	June 30, 2016
	Level 3		Total		Losses for the Six Months Ended  June 30, 2016
	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	54,123	$	54,123	$	14,999
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 6/30/2017		Valuation Technique	Unobservable Input	Range (1) (Weighted Average)
	(Dollars in thousands)
Loans held for investment	$	3,165,244	Discounted cash flow	Prepayment Speed	0% to 100.00% (23.41%)
				Discount Rates	0% - 13.16% (3.76%)
Real estate acquired by foreclosure		921	Appraisal	Adjustments for comparable properties	9.93%

Represents range of factors applied to determine fair value.

Estimated fair values of the Company's financial instruments

	June 30, 2017
	Carrying Value		Level 1		Level 2		Level 3		Fair Value
	(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	134,995	$	134,995	$	-	$	-	$	134,995
Available-for-sale securities		687,100		-		687,100		-		687,100
Held-to-maturity securities		31,650		-		31,235		-		31,235
Other securities		25,336		25,336		-		-		25,336
Loans held for sale		18,030		-		-		18,030		18,030
Loans held for investment		3,123,355		-		-		3,165,244		3,165,244
Real estate acquired by foreclosure		921		-		-		921		921
Total	$	4,021,387	$	160,331	$	718,335	$	3,184,195	$	4,062,861
Financial Liabilities:
Deposits	$	3,360,422	$	-	$	3,360,004	$	-	$	3,360,004
Securities sold under agreements to repurchase		5,221		-		5,221		-		5,221
Other borrowed funds		305,000		-		304,706		-		304,706
Subordinated debentures and subordinated notes		47,454		-		42,936		-		42,936
Total	$	3,718,097	$	-	$	3,712,867	$	-	$	3,712,867

	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