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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis
Assets and liabilities measured at fair value on a recurring and nonrecurring basis were as follows as of the dates indicated:
 
 
 
Fair Value Measurements at Reporting Date Using
 
Balance
 
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)        
 
Significant Other
Observable
Inputs
(Level 2)        
 
Significant
Unobservable
Inputs
(Level 3)
 
December 31, 2016
 
(Dollars in thousands)
Recurring fair value measurements
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Trading securities
$
804

 
$
804

 
$
—

 
$
—

Securities available for sale
 
 
 
 
 
 
 
U.S. Government agency securities
24,244

 
—

 
24,244

 
—

Agency mortgage-backed securities
175,384

 
—

 
175,384

 
—

Agency collateralized mortgage obligations
99,868

 
—

 
99,868

 
—

State, county, and municipal securities
3,793

 
—

 
3,793

 
—

Single issuer trust preferred securities issued by banks and insurers
2,311

 
—

 
2,311

 
—

Pooled trust preferred securities issued by banks and insurers
1,584

 
—

 
—

 
1,584

Small business administration pooled securities
37,189

 
—

 
37,189

 
—

Equity securities
19,271

 
19,271

 
—

 
—

Loans held for sale
6,139

 
—

 
6,139

 
—

Derivative instruments
22,761

 
—

 
22,761

 
—

Liabilities
 
 
 
 
 
 
 
Derivative instruments
21,916

 
—

 
21,916

 
—

Total recurring fair value measurements
$
371,432

 
$
20,075

 
$
349,773

 
$
1,584

 
 
 
 
 
 
 
 
Nonrecurring fair value measurements
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Collateral dependent impaired loans
$
33,974

 
$
—

 
$
—

 
$
33,974

Other real estate owned and other foreclosed assets
4,173

 
—

 
—

 
4,173

Total nonrecurring fair value measurements
$
38,147

 
$
—

 
$
—

 
$
38,147


 
 
 
Fair Value Measurements at Reporting Date Using
 
Balance
 
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)        
 
Significant Other
Observable
Inputs
(Level 2)        
 
Significant
Unobservable
Inputs
(Level 3)
 
December 31, 2015
 
(Dollars in thousands)
Recurring fair value measurements
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Trading securities
$
356

 
$
356

 
$
—

 
$
—

Securities available for sale
 
 
 
 
 
 
 
U.S. Government agency securities
30,215

 
$
—

 
30,215

 
—

Agency mortgage-backed securities
210,937

 
—

 
210,937

 
—

Agency collateralized mortgage obligations
63,584

 
—

 
63,584

 
—

State, county, and municipal securities
4,659

 
—

 
4,659

 
—

Single issuer trust preferred securities issued by banks and insurers
2,792

 
—

 
2,792

 
—

Pooled trust preferred securities issued by banks and insurers
1,572

 
—

 
—

 
1,572

Small business administration pooled securities
40,449

 
—

 
40,449

 
—

Equity securities
13,041

 
13,041

 
—

 
—

Loans held for sale
5,990

 
—

 
5,990

 
—

Derivative instruments
23,305

 
—

 
23,305

 
—

Liabilities
 
 
 
 
 
 
 
Derivative instruments
26,313

 
—

 
26,313

 
—

Total recurring fair value measurements
$
370,587

 
$
13,397

 
$
355,618

 
$
1,572

 
 
 
 
 
 
 
 
Nonrecurring fair value measurements:
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Collateral dependent impaired loans
$
4,598

 
$
—

 
$
—

 
$
4,598

Other real estate owned and other foreclosed assets
2,159

 
—

 
—

 
2,159

Total nonrecurring fair value measurements
$
6,757

 
$
—

 
$
—

 
$
6,757


Reconciliation of Assets on Recurring Basis Using Significant Unobservable Inputs
The table below presents a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), which were valued using pricing models and discounted cash flow methodologies, as of the dates indicated:
 
 
As of and for the years ended December 31,
 
 
2016
 
2015
 
2014
 
 
(Dollars in thousands)
Pooled Trust Preferred Securities
 
 
 
 
 
 
Beginning balance
 
$
1,572

 
$
6,321

 
$
3,841

Gain and (losses) (realized/unrealized)
 
 
 
 
 
 
Included in earnings
 
—

 
—

 
—

Included in other comprehensive income
 
29

 
14

 
2,655

Sales
 
—

 
(4,679
)
 
—

Settlements
 
(17
)
 
(84
)
 
(175
)
Transfers into (out of) level 3
 
—

 
—

 
—

Ending Balance
 
$
1,584

 
$
1,572

 
$
6,321

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following table sets forth certain unobservable inputs regarding the Company's financial instruments that are classified as Level 3 as of December 31st for the years indicated:
 
 
2016
 
2015
 
 
 
2016
 
2015
 
2016
 
2015
Valuation Technique
 
Fair Value
 
Unobservable Inputs
 
Range
 
Weighted Average
 
 
(Dollars in thousands)
 
 
Discounted cash flow methodology
 
 
 
 
 
 
 
 
 
 
Pooled trust preferred securities
 
$
1,584

 
$
1,572

 
Cumulative prepayment
 
0% - 62%
 
0%-64%
 
2.5%
 
2.7%
 
 
 
 
 
 
Cumulative default
 
5% - 100%
 
5%-100%
 
12.8%
 
15.1%
 
 
 
 
 
 
Loss given default
 
85% - 100%
 
85%-100%
 
94.2%
 
94.2%
 
 
 
 
 
 
Cure given default
 
0% - 75%
 
0%-75%
 
60.9%
 
62.3%
Appraisals of collateral (1)
 
 
 
 
 
 
 
 
 
Collateral dependent impaired loans
 
$
33,974

 
$
4,598

 
 
 
 
 
 
 
 
 
 
Other real estate owned and foreclosed assets
 
$
4,173

 
$
2,159

 
 
 
 
 
 
 
 
 
 
(1)
Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. Appraisals may be adjusted by management for qualitative factors such as economic factors and estimated liquidation expenses. The range of these possible adjustments may vary.
Schedule of Fair Values and Related Carrying Amounts by Balance Sheet Grouping
The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below as of the periods indicated:
 
 
 
Fair Value Measurements at Reporting Date Using
 
Book Value
 
Fair Value
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
December 31, 2016
 
(Dollars in thousands)
Financial assets
 
 
 
Securities held to maturity(a)
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
1,007

 
$
1,054

 
$
—

 
$
1,054

 
$
—

Agency mortgage-backed securities
156,088

 
157,504

 
—

 
157,504

 
—

Agency collateralized mortgage obligations
297,445

 
294,650

 
—

 
294,650

 
—

State, county, and municipal securities
—

 
—

 
—

 
—

 
—

Single issuer trust preferred securities issued by banks
1,500

 
1,544

 
—

 
1,544

 
—

Small business administration pooled securities
31,036

 
30,898

 
—

 
30,898

 
—

Loans, net of allowance for loan losses(b)
5,904,065

 
5,784,778

 
—

 
—

 
5,784,778

Federal Home Loan Bank stock(c)
11,497

 
11,497

 
—

 
11,497

 
—

Cash surrender value of life insurance policies(d)
144,503

 
144,503

 
—

 
144,503

 
—

Financial liabilities
 
 
 
 
 
 
 
 
 
Deposit liabilities, other than time deposits(e)
$
5,763,101

 
$
5,763,101

 
$
—

 
$
5,763,101

 
$
—

Time certificates of deposits(f)
649,152

 
647,038

 
—

 
647,038

 
$
—

Federal Home Loan Bank borrowings(f)
50,819

 
50,898

 
—

 
50,898

 
—

Customer repurchase agreements and other short-term borrowings(f)
176,913

 
176,913

 
—

 
—

 
176,913

Junior subordinated debentures(g)
73,107

 
72,510

 
—

 
72,510

 
—

Subordinated debentures(f)
34,635

 
34,241

 
—

 
—

 
34,241

 
 
 
 
Fair Value Measurements at Reporting Date Using
 
Book Value
 
Fair Value
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
December 31, 2015
Financial assets
(Dollars in thousands)
Securities held to maturity(a)
 
 


 
 
 
 
 
 
U.S. Treasury securities
$
1,009

 
$
1,064

 
$
—

 
$
1,064

 
$
—

Agency mortgage-backed securities
167,134

 
170,375

 
—

 
170,375

 
—

Agency collateralized mortgage obligations
267,348

 
264,891

 
—

 
264,891

 
—

State, county, and municipal securities
225

 
227

 
—

 
227

 
—

Single issuer trust preferred securities issued by banks
1,500

 
1,522

 
—

 
1,522

 
—

Small business administration pooled securities
35,291

 
35,664

 
—

 
35,664

 
—

Corporate debt securities
5,000

 
5,006

 
—

 
5,006

 
—

Loans, net of allowance for loan losses(b)
5,487,298

 
5,417,425

 
—

 
—

 
5,417,425

Federal Home Loan Bank stock(c)
14,431

 
14,431

 
—

 
14,431

 
—

Cash surrender value of life insurance policies(d)
134,627

 
134,627

 
—

 
134,627

 
—

Financial liabilities
 
 
 
 
 
 
 
 
 
Deposit liabilities, other than time deposits(e)
$
5,305,873

 
$
5,305,873

 
$
—

 
$
5,305,873

 
$
—

Time certificates of deposits(f)
$
684,830

 
$
684,370

 
$
—

 
$
684,370

 
$
—

Federal Home Loan Bank borrowings(f)
102,080

 
102,396

 
—

 
102,396

 
—

Customer repurchase agreements and other short-term borrowings(f)
133,958

 
133,958

 
—

 
—

 
133,958

Junior subordinated debentures(g)
73,306

 
73,871

 
—

 
73,871

 
—

Subordinated debentures(f)
34,589

 
34,370

 
—

 
—

 
34,370


(a)
The fair values presented are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments and/or discounted cash flow analysis.
(b)
Fair value is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities or cash flows. Additionally, this amount excludes collateral dependent impaired loans, which are deemed to be marked to fair value on a nonrecurring basis.
(c)
FHLB stock has no quoted market value and is carried at cost, therefore the carrying amount approximates fair value.
(d)
Cash surrender value of life insurance is recorded at its cash surrender value (or the amount that can be realized upon surrender of the policy), therefore carrying amount approximates fair value.
(e)
Fair value of demand deposits, savings and interest checking accounts and money market deposits is the amount payable on demand at the reporting date.
(f)
Fair value was determined by discounting anticipated future cash payments using rates currently available for instruments with similar remaining maturities.
(g)
Fair value was determined based upon market prices of securities with similar terms and maturities.