Fair Value (Tables)

3 Months Ended

Mar. 31, 2017

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, 2017:
Assets
Derivative financial instruments	$	2,413	$	—	$	2,413	$	—
Loans held for sale		46,988		—		46,988		—
Securities available for sale:
Government-sponsored entities debt		93,299		—		93,299		—
State and municipal obligations		200,284		—		200,284		—
Mortgage-backed securities		1,083,439		—		1,083,439		—
Corporate stocks		3,991		2,766		1,225		—
Total securities available for sale		1,381,013		2,766		1,378,247		—
Mortgage servicing rights		30,063		—		—		30,063
	$	1,460,477	$	2,766	$	1,427,648	$	30,063
Liabilities
Derivative financial instruments	$	934	$	—	$	934	$	—
December 31, 2016:
Assets
Derivative financial instruments	$	2,606	$	—	$	2,606	$	—
Loans held for sale		50,572		—		50,572		—
Securities available for sale:
Government-sponsored entities debt		84,642		—		84,642		—
State and municipal obligations		107,402		—		107,402		—
Mortgage-backed securities		803,577		—		803,577		—
Corporate stocks		3,784		2,559		1,225		—
Total securities available for sale		999,405		2,559		996,846		—
Mortgage servicing rights		29,037		—		—		29,037
	$	1,081,620	$	2,559	$	1,050,024	$	29,037
Liabilities
Derivative financial instruments	$	730	$	—	$	730	$	—
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	$	—

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, 2017	$	29,037	$	—
Servicing assets that resulted from transfers of financial assets		1,385		—
Changes in fair value due to valuation inputs or assumptions		444		—
Changes in fair value due to decay		(803)		—
Fair value , March 31, 2017	$	30,063	$	—
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 decay		(780)		—
Fair value, March 31, 2016	$	23,697	$	—

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, 2017:
OREO	$	20,007	$	—	$	—	$	20,007
Non-acquired impaired loans		2,290		—		—		2,290
December 31, 2016:
OREO	$	18,316	$	—	$	—	$	18,316
Non-acquired impaired loans		6,611		—		—		6,611
March 31, 2016:
OREO	$	25,953	$	—	$	—	$	25,953
Non-acquired impaired loans		2,173		—		—		2,173

Quantitative Information about Level 3 Fair Value Measurements

			Weighted Average
			March 31,		December 31,		March 31,
	Valuation Technique	Unobservable Input	2017		2016		2016
Nonrecurring measurements:
Non-acquired impaired loans	Discounted appraisals	Collateral discounts	6	%	6	%	5	%
OREO	Discounted appraisals	Collateral discounts and estimated costs to sell	20	%	18	%	20	%

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, 2017
Financial assets:
Cash and cash equivalents	$	663,126	$	663,126	$	663,126	$	—	$	—
Investment securities		1,400,609		1,400,731		16,267		1,384,464		—
Loans held for sale		46,988		46,988		—		46,988		—
Loans, net of allowance for loan losses		7,868,840		7,936,291		—		—		7,936,291
FDIC receivable for loss share agreements		—		—		—		—		—
Accrued interest receivable		22,823		22,823		—		5,558		17,265
Mortgage servicing rights		30,063		30,063		—		—		30,063
Interest rate swap - non-designated hedge		133		133		—		133		—
Other derivative financial instruments (mortgage banking related)		2,280		2,280		—		2,280		—
Financial liabilities:
Deposits		9,033,438		8,462,144		—		8,462,144		—
Federal funds purchased and securities sold under agreements to repurchase		352,431		352,431		—		352,431		—
Other borrowings		107,988		109,470		—		109,470		—
Accrued interest payable		1,452		1,452		—		1,452		—
Interest rate swap - non-designated hedge		121		121		—		121		—
Interest rate swap - cash flow hedge		426		426		—		426		—
Other derivative financial instruments (mortgage banking related)		387		387		—		387		—
Off balance sheet financial instruments:
Commitments to extend credit		—		16,756		—		16,756		—
December 31, 2016
Financial assets:
Cash and cash equivalents	$	374,448	$	374,448	$	374,448	$	—	$	—
Investment securities		1,014,981		1,015,137		12,041		1,003,096		—
Loans held for sale		50,572		50,572		—		50,572		—
Loans, net of allowance for loan losses		6,643,326		6,649,575		—		—		6,649,575
FDIC receivable for loss share agreements		—		—		—		—		—
Accrued interest receivable		18,618		18,618		—		3,642		14,976
Mortgage servicing rights		29,037		29,037		—		—		29,037
Interest rate swap - non-designated hedge		203		203		—		203		—
Other derivative financial instruments (mortgage banking related)		2,403		2,403		—		2,403		—
Financial liabilities:
Deposits		7,334,423		6,935,867		—		6,935,867		—
Federal funds purchased and securities sold under agreements to repurchase		313,773		313,773		—		313,773		—
Other borrowings		55,358		54,379		—		54,379		—
Accrued interest payable		1,359		1,359		—		1,359		—
Interest rate swap - non-designated hedge		181		181		—		181		—
Interest rate swap - cash flow hedge		498		498		—		498		—
Other derivative financial instruments (mortgage banking related)		51		51		—		51		—
Off balance sheet financial instruments:
Commitments to extend credit		—		1,587		—		1,587		—
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		—