Fair Value (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Summary of Asset Measured at Fair Value

Assets measured at fair value are summarized as follows:

(in thousands)	Level 1		Level 2		Level 3		Total
As of June 30, 2016
Fair valued on a recurring basis:
Investment securities available for sale	$	6,024	$	274,681	$	—	$	280,705
Fair valued on a non-recurring basis:
Impaired loans		—		5,936		—		5,936
Other real estate owned		—		407		—		407
As of December 31, 2015
Fair valued on a recurring basis:
Investment securities available for sale	$	2,017	$	330,719	$	—	$	332,736
Fair valued on a non-recurring basis:
Impaired loans		—		5,580		—		5,580
Other real estate owned		—		460		—		460

Fair Value of Financial Instruments

Note 9 — Fair Value– Continued

Fair value of financial instruments — The following table summarizes carrying amounts, estimated fair values and assumptions used to estimate fair values of financial instruments:

	Carrying		Estimated
(in thousands)	Value		Fair Value
As of December 31, 2015
Financial Assets:
Net loans held for investment	$	1,032,418	$	1,029,540
Financial Liabilities:
Interest bearing deposits		900,677		901,211