Fair Value (Tables)

6 Months Ended

Jun. 30, 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)
June 30, 2016:
Assets
Derivative financial instruments	$	3,257	$	—	$	3,257	$	—
Loans held for sale		48,926		—		48,926		—
Securities available for sale:
Government-sponsored entities debt		103,092		—		103,092		—
State and municipal obligations		123,894		—		123,894		—
Mortgage-backed securities		758,881		—		758,881		—
Corporate stocks		3,743		2,518		1,225		—
Total securities available for sale		989,610		2,518		987,092		—
Mortgage servicing rights		22,350		—		—		22,350
	$	1,064,143	$	2,518	$	1,039,275	$	22,350
Liabilities
Derivative financial instruments	$	2,213	$	—	$	2,213	$	—
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	$	—
June 30, 2015:
Assets
Derivative financial instruments	$	2,574	$	—	$	2,574	$	—
Loans held for sale		73,055		—		73,055		—
Securities available for sale:
Government-sponsored entities debt	$	130,835	$	—	$	130,835	$	—
State and municipal obligations		136,699		—		136,699		—
Mortgage-backed securities		570,922		—		570,922		—
Corporate stocks		3,205		2,980		225		—
Total securities available for sale		841,661		2,980		838,681		—
Mortgage servicing rights		25,325		—		—		25,325
	$	942,615	$	2,980	$	914,310	$	25,325
Liabilities
Derivative financial instruments	$	1,228	$	—	$	1,228	$	—

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		2,393		—
Changes in fair value due to valuation inputs or assumptions		(4,476)		—
Changes in fair value due to increased principal paydowns		(1,769)		—
Fair value , June 30, 2016	$	22,350	$	—
Fair value, January 1, 2015	$	21,601	$	—
Servicing assets that resulted from transfers of financial assets		3,921		—
Changes in fair value due to valuation inputs or assumptions		1,539		—
Changes in fair value due to increased principal paydowns		(1,736)		—
Fair value, June 30, 2015	$	25,325	$	—

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)
June 30, 2016:
OREO	$	22,427	$	—	$	—	$	22,427
Non-acquired impaired loans		3,515		—		—		3,515
December 31, 2015:
OREO	$	30,554	$	—	$	—	$	30,554
Non-acquired impaired loans		13,355		—		—		13,355
June 30, 2015:
OREO	$	35,042	$	—	$	—	$	35,042
Non-acquired impaired loans		10,079		—		—		10,079

Quantitative Information about Level 3 Fair Value Measurements

			Weighted Average
			June 30,		December 31,		June 30,
	Valuation Technique	Unobservable Input	2016		2015		2015
Nonrecurring measurements:
Non-acquired impaired loans	Discounted appraisals	Collateral discounts	6	%	6	%	4	%
OREO	Discounted appraisals	Collateral discounts and estimated costs to sell	17	%	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
June 30, 2016
Financial assets:
Cash and cash equivalents	$	481,912	$	481,912	$	481,912	$	—	$	—
Investment securities		1,007,060		1,007,370		12,047		995,323		—
Loans held for sale		48,926		48,926		—		48,926		—
Loans, net of allowance for loan losses		6,380,657		6,591,596		—		—		6,591,596
FDIC receivable for loss share agreements		—		—		—		—		—
Accrued interest receivable		18,191		18,191		—		3,941		14,250
Mortgage servicing rights		22,350		22,350		—		—		22,350
Other derivative financial instruments (mortgage banking related)		3,257		3,257		—		3,257		—
Financial liabilities:
Deposits		7,163,926		6,980,410		—		6,980,410		—
Federal funds purchased and securities sold under agreements to repurchase		341,064		341,064		—		341,064		—
Other borrowings		55,254		49,499		—		49,499		—
Accrued interest payable		1,649		1,649		—		1,649		—
Interest rate swap - cash flow hedge		776		776		—		776		—
Other derivative financial instruments (mortgage banking related)		1,437		1,437		—		1,437		—
Off balance sheet financial instruments:
Commitments to extend credit		—		53,838		—		53,838		—
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		—		—		—		—		—
June 30, 2015
Financial assets:
Cash and cash equivalents	$	593,382	$	593,382	$	593,382	$	—	$	—
Investment securities		860,351		860,806		12,011		848,795		—
Loans held for sale		73,055		73,055		—		73,055		—
Loans, net of allowance for loan losses		5,749,270		5,805,702		—		—		5,805,702
FDIC receivable for loss share agreements		11,035		2,615		—		—		2,615
Accrued interest receivable		16,643		16,643		—		3,605		13,038
Mortgage servicing rights		25,325		25,325		—		—		25,325
Interest rate swap - non-designated hedge		156		156		—		156		—
Other derivative financial instruments (mortgage banking related)		2,418		2,418		—		2,418		—
Financial liabilities:
Deposits		6,667,528		6,372,390		—		6,372,390		—
Federal funds purchased and securities sold under agreements to repurchase		287,903		287,903		—		287,903		—
Other borrowings		55,055		50,714		—		50,714		—
Accrued interest payable		2,489		2,489		—		2,489		—
Interest rate swap - cash flow hedge		806		806		—		806		—
Interest rate swap - non-designated hedge		156		156		—		156		—
Other derivative financial instruments (mortgage banking related)		266		266		—		266		—
Off balance sheet financial instruments:
Commitments to extend credit		—		31,401		—		31,401		—
Standby letters of credit and financial guarantees		—		—		—		—		—