DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2018

Assets and liabilities measured at fair value on a recurring basis

The tables below present the Company’s assets and liabilities measured at fair value on a recurring basis as of the dates set forth aggregated by the level in the fair value hierarchy within which those measurements fall.



	June 30, 2018
	Level 1		Level 2		Level 3		Total

	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	—	$	635,333	$	—	$	635,333
Loans held for sale	—		4,992		—		4,992
Correspondent interest rate swaps	—		2,757		—		2,757
Customer interest rate swaps	—		188		—		188
Correspondent interest rate caps and collars	—		185		—		185

Financial Liabilities:
Correspondent interest rate swaps	$	—	$	242	$	—	$	242
Customer interest rate swaps	—		2,752		—		2,752
Customer interest rate caps and collars	—		185		—		185



	December 31, 2017
	Level 1		Level 2		Level 3		Total

	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	—	$	705,539	$	—	$	705,539
Correspondent interest rate swaps	—		1,326		—		1,326
Customer interest rate swaps	—		423		—		423
Correspondent interest rate caps	—		75		—		75

Financial Liabilities:
Correspondent interest rate swaps	$	—	$	448	$	—	$	448
Customer interest rate swaps	—		1,325		—		1,325
Customer interest rate caps	—		75		—		75

Schedule of fair value of assets measured on a nonrecurring basis

The following tables present the assets that were subject to fair value adjustments during the periods indicated, which were still on the balance sheet at the end of the reporting periods:



	June 30, 2018
	Level 3		Total		Losses for the Six Months Ended June 30, 2018

	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	28,535	$	28,535	$	8,598
Other real estate owned	—		—		—



	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	—		—		—

Estimated fair values of the Company's financial instruments

The estimated fair values of the Company’s financial instruments as of the dates indicated are as follows:



	June 30, 2018
	Carrying Value		Level 1		Level 2		Level 3		Fair Value

	(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	231,251	$	231,251	$	—	$	—	$	231,251
Available-for-sale securities	635,333		—		635,333		—		635,333
Held-to-maturity securities	64,530		—		63,993		—		63,993
Other securities	42,962		42,962		—		—		42,962
Loans held for sale	4,992		—		4,992		—		4,992
Loans held for investment, net of allowance	3,187,022		—		—		3,201,649		3,201,649
Real estate acquired by foreclosure	802		—		—		802		802
Total	$	4,166,892	$	274,213	$	704,318	$	3,202,451	$	4,180,982

Financial Liabilities:
Deposits	$	3,426,050	$	—	$	3,429,588	$	—	$	3,429,588
Securities sold under agreements to repurchase	4,141		—		4,141		—		4,141
Other borrowed funds	412,000		—		412,026		—		412,026
Subordinated debentures and subordinated notes	48,019		—		46,170		—		46,170
Total	$	3,890,210	$	—	$	3,891,925	$	—	$	3,891,925



	December 31, 2017
	Carrying Value		Level 1		Level 2		Level 3		Fair Value

	(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	140,681	$	140,681	$	—	$	—	$	140,681
Available-for-sale securities	705,539		—		705,539		—		705,539
Held-to-maturity securities	13,275		—		13,146		—		13,146
Other securities	26,617		26,617		—		—		26,617
Loans held for sale	7,156		—		7,156		—		7,156
Loans held for investment	3,190,485		—		—		3,206,145		3,206,145
Real estate acquired by foreclosure	802		—		—		802		802
Total	$	4,084,555	$	167,298	$	725,841	$	3,206,947	$	4,100,086

Financial Liabilities:
Deposits	$	3,397,143	$	—	$	3,392,144	$	—	$	3,392,144
Securities sold under agreements to repurchase	5,173		—		5,173		—		5,173
Other borrowed funds	325,000		—		324,873		—		324,873
Subordinated debentures and subordinated notes	47,737		—		45,356		—		45,356
Total	$	3,775,053	$	—	$	3,767,546	$	—	$	3,767,546