DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 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.



	March 31, 2018
	Level 1		Level 2		Level 3		Total

	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	—	$	664,045	$	—	$	664,045
Loans held for sale	—		7,461		—		7,461
Correspondent interest rate swaps	—		2,309		—		2,309
Customer interest rate swaps	—		417		—		417
Correspondent interest rate caps and collars	—		150		—		150

Financial Liabilities:
Correspondent interest rate swaps	$	—	$	493	$	—	$	493
Customer interest rate swaps	—		2,298		—		2,298
Customer interest rate caps and collars	—		150		—		150



	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:



	March 31, 2018
	Level 3		Total		Losses for the Three Months Ended March 31, 2018

	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	39,858	$	39,858	$	9,033
Other real estate owned	—		—		—



	March 31, 2017
	Level 3		Total		Losses for the Three Months 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	—		—		—

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:



	March 31, 2018
	Carrying Value		Level 1		Level 2		Level 3		Fair Value

	(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	142,144	$	142,144	$	—	$	—	$	142,144
Available-for-sale securities	664,045		—		664,045		—		664,045
Held-to-maturity securities	65,101		—		65,037		—		65,037
Other securities	26,631		26,631		—		—		26,631
Loans held for sale	7,461		—		7,461		—		7,461
Loans held for investment, net of allowance	3,098,103		—		—		3,116,497		3,116,497
Real estate acquired by foreclosure	802		—		—		802		802
Total	$	4,004,287	$	168,775	$	736,543	$	3,117,299	$	4,022,617

Financial Liabilities:
Deposits	$	3,453,727	$	—	$	3,454,086	$	—	$	3,454,086
Securities sold under agreements to repurchase	4,948		—		4,948		—		4,948
Other borrowed funds	230,000		—		230,160		—		230,160
Subordinated debentures and subordinated notes	47,878		—		46,189		—		46,189
Total	$	3,736,553	$	—	$	3,735,383	$	—	$	3,735,383



	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