Fair Value (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016:
Assets
Derivative financial instruments	$	3,439	$	—	$	3,439	$	—
Loans held for sale		34,933		—		34,933		—
Securities available for sale:
Government-sponsored entities debt		126,313		—		126,313		—
State and municipal obligations		128,143		—		128,143		—
Mortgage-backed securities		719,830		—		719,830		—
Corporate stocks		3,761		2,536		1,225		—
Total securities available for sale		978,047		2,536		975,511		—
Mortgage servicing rights		23,697		—		—		23,697
	$	1,040,116	$	2,536	$	1,013,883	$	23,697
Liabilities
Derivative financial instruments	$	1,408	$	—	$	1,408	$	—
December 31, 2015:
Assets
Derivative financial instruments	$	1,415	$	—	$	1,415	$	—
Loans held for sale		41,649		—		41,649		—
Securities available for sale:
Government-sponsored entities debt		162,507		—		162,507		—
State and municipal obligations		131,364		—		131,364		—
Mortgage-backed securities		711,849		—		711,849		—
Corporate stocks		3,821		2,596		1,225		—
Total securities available for sale		1,009,541		2,596		1,006,945		—
Mortgage servicing rights		26,202		—		—		26,202
	$	1,078,807	$	2,596	$	1,050,009	$	26,202
Liabilities
Derivative financial instruments	$	838	$	—	$	838	$	—
March 31, 2015:
Assets
Derivative financial instruments	$	3,160	$	—	$	3,160	$	—
Loans held for sale		87,342		—		87,342		—
Securities available for sale:
Government-sponsored entities debt	$	134,203	$	—	$	134,203	$	—
State and municipal obligations		136,516		—		136,516		—
Mortgage-backed securities		534,424		—		534,424		—
Corporate stocks		3,253		3,028		225		—
Total securities available for sale		808,396		3,028		805,368		—
Mortgage servicing rights		21,510		—		—		21,510
	$	920,408	$	3,028	$	895,870	$	21,510
Liabilities
Derivative financial instruments	$	1,608	$	—	$	1,608	$	—

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, 2016	$	26,202	$	—
Servicing assets that resulted from transfers of financial assets		881		—
Changes in fair value due to valuation inputs or assumptions		(2,606)		—
Changes in fair value due to increased principal paydowns		(780)		—
Fair value , March 31, 2016	$	23,697	$	—
Fair value, January 1, 2015	$	21,601	$	—
Servicing assets that resulted from transfers of financial assets		1,582		—
Changes in fair value due to valuation inputs or assumptions		(836)		—
Changes in fair value due to increased principal paydowns		(837)		—
Fair value, March 31, 2015	$	21,510	$	—

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, 2016:
OREO	$	25,953	$	—	$	—	$	25,953
Non-acquired impaired loans		2,173		—		—		2,173
December 31, 2015:
OREO	$	30,554	$	—	$	—	$	30,554
Non-acquired impaired loans		13,355		—		—		13,355
March 31, 2015:
OREO	$	36,096	$	—	$	—	$	36,096
Non-acquired impaired loans		6,636		—		—		6,636

Quantitative Information about Level 3 Fair Value Measurements

			Weighted Average
			March 31,		December 31,		March 31,
	Valuation Technique	Unobservable Input	2016		2015		2015
Nonrecurring measurements:
Non-acquired impaired loans	Discounted appraisals	Collateral discounts	5	%	6	%	5	%
OREO	Discounted appraisals	Collateral discounts and estimated costs to sell	20	%	16	%	18	%

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, 2016
Financial assets:
Cash and cash equivalents	$	697,277	$	697,277	$	697,277	$	—	$	—
Investment securities		995,506		995,866		12,075		983,791		—
Loans held for sale		34,933		34,933		—		34,933		—
Loans, net of allowance for loan losses		6,129,228		6,257,082		—		—		6,257,082
FDIC receivable for loss share agreements		2,091		(4,224)		—		—		(4,224)
Accrued interest receivable		18,023		18,023		—		3,964		14,059
Mortgage servicing rights		23,697		23,697		—		—		23,697
Other derivative financial instruments (mortgage banking related)		3,439		3,439		—		3,439		—
Financial liabilities:
Deposits		7,161,948		6,950,947		—		6,950,947		—
Federal funds purchased and securities sold under agreements to repurchase		312,034		312,034		—		312,034		—
Other borrowings		55,210		49,230		—		49,230		—
Accrued interest payable		1,926		1,926		—		1,926		—
Interest rate swap - cash flow hedge		797		797		—		797		—
Other derivative financial instruments (mortgage banking related)		611		611		—		611		—
Off balance sheet financial instruments:
Commitments to extend credit		—		33,260		—		33,260		—
Standby letters of credit and financial guarantees		—		—		—		—		—
December 31, 2015
Financial assets:
Cash and cash equivalents	$	695,794	$	695,794	$	695,794	$	—	$	—
Investment securities		1,027,748		1,028,157		11,489		1,016,668		—
Loans held for sale		41,649		41,649		—		41,649		—
Loans, net of allowance for loan losses		5,970,044		6,068,252		—		—		6,068,252
FDIC receivable for loss share agreements		4,401		(2,452)		—		—		(2,452)
Accrued interest receivable		17,083		17,083		—		3,883		13,200
Mortgage servicing rights		26,202		26,202		—		—		26,202
Other derivative financial instruments (mortgage banking related)		1,415		1,415		—		1,415		—
Financial liabilities:
Deposits		7,100,428		6,785,911		—		6,785,911		—
Federal funds purchased and securities sold under agreements to repurchase		288,231		288,231		—		288,231		—
Other borrowings		55,158		49,762		—		49,762		—
Accrued interest payable		2,190		2,190		—		2,190		—
Interest rate swap - cash flow hedge		718		718		—		718		—
Other derivative financial instruments (mortgage banking related)		120		120		—		120		—
Off balance sheet financial instruments:
Commitments to extend credit		—		23,927		—		23,927		—
Standby letters of credit and financial guarantees		—		—		—		—		—
March 31, 2015
Financial assets:
Cash and cash equivalents	$	630,734	$	630,734	$	630,734	$	—	$	—
Investment securities		827,086		827,659		12,284		815,375		—
Loans held for sale		87,342		87,342		—		87,342		—
Loans, net of allowance for loan losses		5,666,720		5,747,502		—		—		5,747,502
FDIC receivable for loss share agreements		16,713		6,646		—		—		6,646
Accrued interest receivable		16,255		16,255		—		3,637		12,618
Mortgage servicing rights		21,510		21,510		—		—		21,510
Interest rate swap - non-designated hedge		178		178		—		178		—
Other derivative financial instruments (mortgage banking related)		2,982		2,982		—		2,982		—
Financial liabilities:
Deposits		6,633,657		6,381,486		—		6,381,486		—
Federal funds purchased and securities sold under agreements to repurchase		276,774		276,774		—		276,774		—
Other borrowings		55,003		51,623		—		51,623		—
Accrued interest payable		3,163		3,163		—		3,163		—
Interest rate swap - cash flow hedge		900		900		—		900		—
Interest rate swap - non-designated hedge		178		178		—		178		—
Other derivative financial instruments (mortgage banking related)		530		530		—		530		—
Off balance sheet financial instruments:
Commitments to extend credit		—		18,005		—		18,005		—
Standby letters of credit and financial guarantees		—		—		—		—		—