Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Available- for-Sale Securities Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s available-for-sale securities which are measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands):

June 30, 2018

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Available-for-sale investment securities:
U.S. Treasury securities	$	9,965	$	—	$	—	$	9,965
Obligations of U. S. government sponsored enterprises and agencies		—		303		—		303
Obligations of states and political subdivisions		—		1,284,775		—		1,284,775
Corporate bonds		—		451		—		451
Residential mortgage-backed securities		—		1,435,257		—		1,435,257
Commercial mortgage-backed securities		—		462,485		—		462,485
Other securities		4,331		—		—		4,331
Total	$	14,296	$	3,183,271	$	—	$	3,197,567

June 30, 2017

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Available-for-sale investment securities:
U.S. Treasury securities	$	10,573	$	—	$	—	$	10,573
Obligations of U. S. government sponsored enterprises and agencies		—		73,705		—		73,705
Obligations of states and political subdivisions		—		1,531,873		—		1,531,873
Corporate bonds		—		25,788		—		25,788
Residential mortgage-backed securities		—		975,082		—		975,082
Commercial mortgage-backed securities		—		343,040		—		343,040
Other securities		4,452		—		—		4,452
Total	$	15,025	$	2,949,488	$	—	$	2,964,513

December 31, 2017

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Available-for-sale investment securities:
Obligations of U. S. government sponsored enterprises and agencies		—		60,330		—		60,330
Obligations of states and political subdivisions		—		1,420,850		—		1,420,850
Corporate bonds		—		7,031		—		7,031
Residential mortgage-backed securities		—		1,219,097		—		1,219,097
Commercial mortgage-backed securities		—		375,737		—		375,737
Other securities		4,428		—		—		4,428
Total	$	4,428	$	3,083,045	$	—	$	3,087,473

Other Real Estate Owned

The following table presents other real estate owned that were re-measured subsequent to their initial transfer to other real estate owned (dollars in thousands):

	Three Months Ended June 30,
	2018			2017
Carrying value of other real estate owned prior to re-measurement	$	526		$	88
Write-downs included in gain (loss) on sale of other real estate owned		(126	)		(8	)
Fair value	$	400		$	80
	Six Months Ended June 30,
	2018			2017
Carrying value of other real estate owned prior to re-measurement	$	526		$	88
Write-downs included in gain (loss) on sale of other real estate owned		(126	)		(8	)
Fair value	$	400		$	80

Schedule of Estimated Fair Values and Carrying Values of All Financial Instruments

The estimated fair values and carrying values of all financial instruments under current authoritative guidance, were as follows (in thousands):

	June 30,								December 31,				Fair Value Hierarchy
	2018				2017				2017
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Cash and due from banks	$	178,217	$	178,217	$	163,435	$	163,435	$	209,583	$	209,583		Level 1
Federal funds sold		8,450		8,450		3,740		3,740		—		—		Level 1
Interest-bearing deposits in banks		99,499		99,499		53,336		53,336		162,764		162,764		Level 1
Interest-bearing time deposits in banks		1,458		1,458		1,458		1,458		1,458		1,458		Level 2
Available-for-sale securities		3,197,567		3,197,567		2,964,513		2,964,513		3,087,473		3,087,473		Levels 1 and 2
Held-to-maturity securities		—		—		105		107		—		—		Level 2
Loans Held for Investment		3,781,529		3,807,267		3,391,942		3,448,104		3,437,413		3,455,003		Level 3
Loans Held for Sale		24,289		24,289		18,327		18,327		15,130		15,130		Level 3
Accrued interest receivable		36,513		36,513		35,600		35,600		36,081		36,081		Level 2
Deposits with stated maturities		483,230		484,230		477,441		478,393		451,255		451,255		Level 2
Deposits with no stated maturities		5,727,377		5,727,377		5,149,168		5,149,168		5,511,706		5,511,706		Level 1
Borrowings		456,935		456,935		379,324		379,324		331,000		331,000		Level 2
Accrued interest payable		223		223		164		164		197		197		Level 2