Disclosures About Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Assets and liabilities measured at fair value on a recurring basis

	September 30, 2017
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	-	$	694,259	$	-	$	694,259
Correspondent interest rate swaps		-		735		-		735
Customer interest rate swaps		-		997		-		997
Correspondent interest rate caps and collars		-		44		-		44
Financial Liabilities:
Correspondent interest rate swaps	$	-	$	1,044	$	-	$	1,044
Customer interest rate swaps		-		728		-		728
Customer interest rate caps and collars		-		43		-		43

	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

	September 30, 2017
	Level 3		Total		Losses for the Nine Months Ended  September 30, 2017
	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	18,916	$	18,916	$	7,459
Other real estate owned		802		802		118
Loans held for sale		15,503		15,503		1,847

	September 30, 2016
	Level 3		Total		Losses for the Nine Months Ended  September 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 9/30/2017		Valuation Technique	Unobservable Input	Range (1) (Weighted Average)
	(Dollars in thousands)
Loans held for investment	$	3,119,653	Discounted cash flow	Prepayment Speed	0% to 99.14%  (17.23%)
				Discount Rates	0% - 18.16% (4.08%)
Real estate acquired by foreclosure		802	Appraisal	Adjustments for comparable properties	8.00%

Represents range of factors applied to determine fair value.

Estimated fair values of the Company's financial instruments

	September 30, 2017
	Carrying Value		Level 1		Level 2		Level 3		Fair Value
	(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	179,463	$	179,463	$	-	$	-	$	179,463
Available-for-sale securities		694,259		-		694,259		-		694,259
Held-to-maturity securities		13,730		-		13,701		-		13,701
Other securities		21,777		21,777		-		-		21,777
Loans held for sale		17,673		-		2,170		15,503		17,673
Loans held for investment		3,071,761		-		-		3,119,653		3,119,653
Real estate acquired by foreclosure		802		-		-		802		802
Total	$	3,999,465	$	201,240	$	710,130	$	3,135,958	$	4,047,328
Financial Liabilities:
Deposits	$	3,408,253	$	-	$	3,407,620	$	-	$	3,407,620
Securities sold under agreements to repurchase		5,867		-		5,867		-		5,867
Other borrowed funds		215,000		-		214,858		-		214,858
Subordinated debentures and subordinated notes		47,596		-		44,262		-		44,262
Total	$	3,676,716	$	-	$	3,672,607	$	-	$	3,672,607

	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