Fair Value (Tables)

9 Months Ended

Sep. 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)
September 30, 2016:
Assets
Derivative financial instruments	$	3,091	$	—	$	3,091	$	—
Loans held for sale		57,052		—		57,052		—
Securities available for sale:
Government-sponsored entities debt		62,980		—		62,980		—
State and municipal obligations		117,324		—		117,324		—
Mortgage-backed securities		741,277		—		741,277		—
Corporate stocks		3,793		2,568		1,225		—
Total securities available for sale		925,374		2,568		922,806		—
Mortgage servicing rights		23,064		—		—		23,064
	$	1,008,581	$	2,568	$	982,949	$	23,064
Liabilities
Derivative financial instruments	$	1,100	$	—	$	1,100	$	—
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	$	—
September 30, 2015:
Assets
Derivative financial instruments	$	2,379	$	—	$	2,379	$	—
Loans held for sale		48,985		—		48,985		—
Securities available for sale:
Government-sponsored entities debt	$	123,794	$	—	$	123,794	$	—
State and municipal obligations		134,338		—		134,338		—
Mortgage-backed securities		625,073		—		625,073		—
Corporate stocks		2,593		2,368		225		—
Total securities available for sale		885,798		2,368		883,430		—
Mortgage servicing rights		24,665		—		—		24,665
	$	961,827	$	2,368	$	934,794	$	24,665
Liabilities
Derivative financial instruments	$	1,904	$	—	$	1,904	$	—

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		4,182		—
Changes in fair value due to valuation inputs or assumptions		(4,305)		—
Changes in fair value due to increased principal paydowns		(3,015)		—
Fair value , September 30, 2016	$	23,064	$	—
Fair value, January 1, 2015	$	21,601	$	—
Servicing assets that resulted from transfers of financial assets		5,770		—
Changes in fair value due to valuation inputs or assumptions		(92)		—
Changes in fair value due to increased principal paydowns		(2,614)		—
Fair value, September 30, 2015	$	24,665	$	—

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)
September 30, 2016:
OREO	$	22,211	$	—	$	—	$	22,211
Non-acquired impaired loans		4,360		—		—		4,360
December 31, 2015:
OREO	$	30,554	$	—	$	—	$	30,554
Non-acquired impaired loans		13,355		—		—		13,355
September 30, 2015:
OREO	$	31,378	$	—	$	—	$	31,378
Non-acquired impaired loans		12,123		—		—		12,123

Quantitative Information about Level 3 Fair Value Measurements

			Weighted Average
			September 30,		December 31,		September 30,
	Valuation Technique	Unobservable Input	2016		2015		2015
Nonrecurring measurements:
Non-acquired impaired loans	Discounted appraisals	Collateral discounts	7	%	6	%	4	%
OREO	Discounted appraisals	Collateral discounts and estimated costs to sell	24	%	16	%	19	%

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
September 30, 2016
Financial assets:
Cash and cash equivalents	$	507,517	$	507,517	$	507,517	$	—	$	—
Investment securities		941,707		941,932		12,050		929,882		—
Loans held for sale		57,052		57,052		—		57,052		—
Loans, net of allowance for loan losses		6,489,068		6,667,622		—		—		6,667,622
FDIC receivable for loss share agreements		—		—		—		—		—
Accrued interest receivable		17,501		17,501		—		3,528		13,973
Mortgage servicing rights		23,064		23,064		—		—		23,064
Other derivative financial instruments (mortgage banking related)		3,091		3,091		—		3,091		—
Financial liabilities:
Deposits		7,247,406		7,015,012		—		7,015,012		—
Federal funds purchased and securities sold under agreements to repurchase		305,268		305,268		—		305,268		—
Other borrowings		55,306		49,751		—		49,751		—
Accrued interest payable		1,384		1,384		—		1,384		—
Interest rate swap - cash flow hedge		655		655		—		655		—
Other derivative financial instruments (mortgage banking related)		444		444		—		444		—
Off balance sheet financial instruments:
Commitments to extend credit		—		45,285		—		45,285		—
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		—
September 30, 2015
Financial assets:
Cash and cash equivalents	$	889,380	$	889,380	$	889,380	$	—	$	—
Investment securities		904,143		904,587		11,399		893,188		—
Loans held for sale		48,985		48,985		—		48,985		—
Loans, net of allowance for loan losses		5,835,646		5,939,570		—		—		5,939,570
FDIC receivable for loss share agreements		7,942		205		—		—		205
Accrued interest receivable		16,614		16,614		—		3,709		12,905
Mortgage servicing rights		24,665		24,665		—		—		24,665
Interest rate swap - non-designated hedge		170		170		—		170		—
Other derivative financial instruments (mortgage banking related)		2,209		2,209		—		2,209		—
Financial liabilities:
Deposits		7,078,009		6,836,437		—		6,836,437		—
Federal funds purchased and securities sold under agreements to repurchase		260,521		260,521		—		260,521		—
Other borrowings		55,107		49,362		—		49,362		—
Accrued interest payable		2,302		2,302		—		2,302		—
Interest rate swap - cash flow hedge		871		871		—		871		—
Interest rate swap - non-designated hedge		170		170		—		170		—
Other derivative financial instruments (mortgage banking related)		863		863		—		863		—
Off balance sheet financial instruments:
Commitments to extend credit		—		24,676		—		24,676		—