Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Measurements

Schedule of financial assets and financial liabilities measured at fair value on a recurring basis

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
March 31, 2015	(dollars in thousands)
Securities available for sale
U.S. Treasury securities	$	—	$	65,930	$	—	$	65,930
Obligations of U.S. government corporations and agencies	—		157,385		—		157,385
Obligations of states and political subdivisions	—		209,081		—		209,081
Residential mortgage-backed securities	—		280,901		—		280,901
Corporate debt securities	—		110,902		—		110,902
Mutual funds and other equity securities	7,415		—		—		7,415
Derivative assets
Foreign currency forward contracts	—		18		—		18

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
December 31, 2014	(dollars in thousands)
Securities available for sale
U.S. Treasury securities	$	—	$	50,606	$	—	$	50,606
Obligations of U.S. government corporations and agencies	—		167,010		—		167,010
Obligations of states and political subdivisions	—		220,161		—		220,161
Residential mortgage-backed securities	—		235,636		—		235,636
Corporate debt securities	—		79,307		—		79,307
Mutual funds and other equity securities	6,345		—		—		6,345
Derivative assets
Foreign currency forward contracts	—		15		—		15

Schedule of assets and liabilities measured at fair value on a non-recurring basis

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
	(dollars in thousands)
March 31, 2015
Impaired loans	$	—	$	—	$	1,820	$	1,820
OREO	—		—		208		208
December 31, 2014
Impaired loans	$	—	$	—	$	2,129	$	2,129

Schedule of quantitative information about Level 3 fair value measurements

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable	Range
	Estimate		Techniques	Input	(Weighted Average)
	(dollars in thousands)
March 31, 2015
Impaired loans	$	1,820	Appraisal of collateral	Appraisal adjustments	-6.9% to -100.0% (-51.1%)
OREO	208		Appraisal of collateral	Appraisal adjustments	-32.7% to -100.0% (-84.7%)
December 31, 2014
Impaired loans	$	2,129	Appraisal of collateral	Appraisal adjustments	-7.7% to -100.0% (-54.3%)

Schedule of estimated fair values of financial instruments

	March 31, 2015				December 31, 2014
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
	(dollars in thousands)
Financial assets:
Level 2 inputs:
Cash and due from banks	$	428,936	$	428,936	$	339,438	$	339,438
Securities held to maturity	35,037		35,387		2,373		2,425
Loans held for sale	18,685		19,039		10,400		10,634
Accrued interest receivable	12,491		12,491		11,187		11,187
Level 3 inputs:
Loans, net	2,418,514		2,440,340		2,357,837		2,360,000
Financial liabilities:
Level 2 inputs:
Deposits	$	3,183,885	$	3,184,855	$	2,900,848	$	2,900,763
Securities sold under agreements to repurchase	183,675		183,675		198,893		198,893
Long-term debt	50,000		50,000		50,000		50,000
Junior subordinated debt owed to unconsolidated trusts	55,000		55,000		55,000		55,000
Accrued interest payable	499		499		507		507