Fair Value (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value

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

			Quoted Prices
			In Active		Significant
			Markets		Other		Significant
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
March 31, 2013:
Assets
Derivative financial instruments	$	290	$	—	$	290	$	—
Securities available for sale:
Government-sponsored entities debt	71,802		—		71,802		—
State and municipal obligations	148,897		—		145,083		3,814
Mortgage-backed securities	289,741		—		289,741		—
Corporate stocks	412		387		25		—
Total securities available for sale	510,852		387		506,651		3,814
	$	511,142	$	387	$	506,941	$	3,814
Liabilities
Derivative financial instruments	$	1,692	$	—	$	1,692	$	—
December 31, 2012:
Assets
Derivative financial instruments	$	312	$	—	$	312	$	—
Securities available for sale:
Government-sponsored entities debt	88,518		—		88,518		—
State and municipal obligations	152,799		—		148,948		3,851
Mortgage-backed securities	293,187		—		293,187		—
Corporate stocks	379		354		25		—
Total securities available for sale	534,883		354		530,678		3,851
	$	535,195	$	354	$	530,990	$	3,851
Liabilities
Derivative financial instruments	$	1,813	$	—	$	1,813	$	—
March 31, 2012:
Assets
Securities available for sale:
Government-sponsored entities debt	$	66,378	$	—	$	66,378	$	—
State and municipal obligations	42,008		—		42,008		—
Mortgage-backed securities	213,809		—		213,809		—
Corporate stocks	393		368		25		—
Total securities available for sale	$	322,588	$	368	$	322,220	$	—
Liabilities
Derivative financial instruments	$	1,280	$	—	$	1,280	$	—

Schedule of reconciliation of the beginning and ending balances of Level 3 assets and liabilities recorded at fair value on a recurring basis

(Dollars in thousands)	Assets			Liabilities
Fair value, January 1, 2013	$	3,851		$	—
Change in unrealized loss recognized in other comprehensive income	—			—
Total realized losses included in income	—			—
Other-than-temporary impairment losses recognized in income	—			—
Purchases, issuances and settlements, net	(37		)	—
Transfers in and/or out of level 3	—			—
Fair value, March 31, 2013	$	3,814		$	—

Schedule of amounts of assets and liabilities measured at fair value on a nonrecurring basis

			Quoted Prices
			In Active		Significant
			Markets		Other		Significant
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
March 31, 2013:
OREO	$	29,508	$	—	$	—	$	29,508
Non-acquired impaired loans	4,418		—		—		4,418
December 31, 2012:
OREO	$	66,505	$	—	$	—	$	66,505
Non-acquired impaired loans	42,356		—		—		42,356
March 31, 2012:
OREO	$	37,961	$	—	$	—	$	37,961
Non-acquired impaired loans	5,491		—		—		5,491

Quantitative Information about Level 3 Fair Value Measurements

			General
	Valuation Technique	Unobservable Input	Range
Nonrecurring measurements:
Impaired loans	Discounted appraisals	Collateral discounts	0-25	%
OREO	Discounted appraisals	Collateral discounts and estimated costs to sell	0-25	%

Schedule of estimated fair value, and related carrying amount, of the Company's financial instruments

	Carrying		Fair
(Dollars in thousands)	Amount		Value		Level 1		Level 2		Level 3
March 31, 2013
Financial assets:
Cash and cash equivalents	$	495,869	$	495,869	$	495,869	$	—	$	—
Investment securities	533,255		534,212		8,192		522,206		3,814
Loans, net of allowance for loan losses, and loans held for sale	3,577,056		3,601,445		—		50,449		3,550,996
FDIC receivable for loss share agreements	124,340		86,049		—		—		86,049
Accrued interest receivable	10,669		10,669		—		3,068		7,601
Interest rate swap — non-designated hedge	290		290		—		290		—
Financial liabilities:
Deposits	4,219,356		4,119,850		—		4,119,850		—
Federal funds purchased and securities sold under agreements to repurchase	328,701		328,701		—		328,701		—
Other borrowings	54,638		55,712		—		55,712		—
Accrued interest payable	1,602		1,602		—		1,602		—
Interest rate swap — cash flow hedge	1,402		1,402		—		1,402		—
Interest rate swap — non-designated hedge	290		290		—		290		—
Off balance sheet financial instruments:
Commitments to extend credit	—		6,208		—		6,208		—
Standby letters of credit and financial guarantees	—		—		—		—		—
December 31, 2012
Financial assets:
Cash and cash equivalents	$	380,730	$	380,730	$	380,730	$	—	$	—
Investment securities	560,091		561,204		10,122		547,231		3,851
Loans, net of allowance for loan losses, and loans held for sale	3,634,514		3,665,070		—		65,279		3,599,791
FDIC receivable for loss share agreements	146,171		101,898		—		—		101,898
Accrued interest receivable	8,190		8,190		—		8,190		—
Interest rate swap — non-designated hedge	312		312		—		312		—
Financial liabilities:
Deposits	4,298,360		4,216,800		—		4,216,800		—
Federal funds purchased and securities sold under agreements to repurchase	238,621		238,621		—		238,621		—
Other borrowings	54,897		57,903		—		57,903		—
Accrued interest payable	2,045		2,045		—		2,045		—
Interest rate swap — cash flow hedge	1,501		1,501		—		1,501		—
Interest rate swap — non-designated hedge	312		312		—		312		—
Off balance sheet financial instruments:
Commitments to extend credit	—		7,371		—		7,371		—
Standby letters of credit and financial guarantees	—		—		—		—		—

	Carrying		Fair
(Dollars in thousands)	Amount		Value		Level 1		Level 2	Level 3
March 31, 2012
Financial assets:
Cash and cash equivalents	$	403,222	$	403,222	$	403,222	—	—
Investment securities	357,448		358,544		18,660		339,884	—
Loans, net of allowance for loan losses, and loans held for sale	2,759,202		2,787,818		—		34,706	2,753,112
FDIC receivable for loss share agreements	231,331		143,643		—		—	143,643
Accrued interest receivable	9,253		9,253		—		9,253	—
Financial liabilities:
Deposits	3,356,637		3,324,145		—		3,324,145	—
Federal funds purchased and securities sold under agreements to repurchase	235,412		235,412		—		235,412	—
Other borrowings	46,397		49,128		—		49,128	—
Accrued interest payable	1,688		1,688		—		1,688	—
Interest rate swap — cash flow hedge	1,280		1,280		—		1,280	—
Off balance sheet financial instruments:
Commitments to extend credit	—		7,025		—		7,025	—
Standby letters of credit and financial guarantees	—		—		—		—	—