Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Financial assets and financial liabilities measured at fair value on a recurring basis are as follows:



			Fair Value Measurements at Reporting Date Using
As of December 31, 2016	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Investment securities available-for-sale:
U.S. Treasury Notes	$	3,612	$	—	$	3,612	$	—
Obligations of U.S. government agencies	391,297		—		391,297		—
U.S. agency mortgage-backed securities & collateralized mortgage obligations	1,213,701		—		1,213,701		—
Private mortgage-backed securities	116		—		116		—
Other investments	2,972		—		2,972		—
Loans held for sale	61,794		—		61,794		—
Derivative assets:
Interest rate swap contracts	1,332		—		1,332		—
Interest rate lock commitments	1,131		—		1,131		—
Forward loan sales contracts	286		—		286		—
Derivative liabilities:
Interest rate swap contracts	1,314		—		1,314		—
Deferred compensation plan assets	10,627		—		10,627		—
Deferred compensation plan liabilities	10,627		—		10,627		—



			Fair Value Measurements at Reporting Date Using
As of December 31, 2015	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Investment securities available-for-sale:
U.S. Treasury Notes	$	3,911	$	—	$	3,911	$	—
Obligations of U.S. government agencies	520,181		—		520,181		—
U.S. agency mortgage-backed securities & collateralized mortgage obligations	929,046		—		929,046		—
Private mortgage-backed securities	156		—		156		—
Other investments	3,546		—		3,546
Derivative assets:
Interest rate swap contracts	953		—		953		—
Derivative liabilities:
Interest rate swap contracts	829		—		829		—
Deferred compensation plan assets	10,149		—		10,149		—
Deferred compensation plan liabilities	10,149		—		10,149		—

The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis.



			Fair Value Measurements at Reporting Date Using
As of December 31, 2016	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses)
Impaired loans	$	39,344	$	—	$	—	$	39,344	$	(25,772	)
Other real estate owned	2,110		—		—		2,110		(1,715		)
Long-lived assets to be disposed of by sale	1,335		—		—		1,335		(1,028		)



			Fair Value Measurements at Reporting Date Using
As of December 31, 2015	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses)
Impaired loans	$	20,875	$	—	$	—	$	20,875	$	(21,804	)
Other real estate owned	1,789		—		—		1,789		(382		)
Long-lived assets to be disposed of by sale	1,506		—		—		1,506		(857		)



As of December 31, 2016	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Impaired loans	$	39,344	Appraisal	Appraisal adjustment	0%	-	66%	(31%)
Other real estate owned	2,110		Appraisal	Appraisal adjustment	8%	-	96%	(18%)
Long-lived assets to be disposed of by sale	1,335		Appraisal	Appraisal adjustment	0%	-	9%	(6%)

As of December 31, 2015	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Impaired loans	$	20,875	Appraisal	Appraisal adjustment	0%	-	53%	(38%)
Other real estate owned	1,789		Appraisal	Appraisal adjustment	2%	-	96%	(19%)
Long-lived assets to be disposed of by sale	1,506		Appraisal	Appraisal adjustment	0%	-	9%	(6%)

A summary of the estimated fair values of financial instruments follows:



	`				Fair Value Measurements at Reporting Date Using
As of December 31, 2016	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents	$	782,023	$	782,023	$	782,023	$	—	$	—
Investment securities available-for-sale	1,611,698		1,611,698		—		1,611,698		—
Investment securities held-to-maturity	512,770		513,273		—		513,273		—
Accrued interest receivable	29,852		29,852		—		29,852		—
Mortgage servicing rights, net	18,457		35,656		—		35,656		—
Net loans	5,402,330		5,309,921		—		5,270,577		39,344
Derivative assets	2,749		2,749		—		2,749		—
Deferred compensation plan assets	10,627		10,627		—		10,627		—
Total financial assets	$	8,370,506	$	8,295,799	$	782,023	$	7,474,432	$	39,344

Financial liabilities:
Total deposits, excluding time deposits	$	6,324,512	$	6,324,512	$	6,324,512	$	—	$	—
Time deposits	1,051,598		1,044,670		—		1,044,670		—
Securities sold under repurchase agreements	537,556		537,556		—		537,556		—
Other borrowed funds	6		6		—		6		—
Accrued interest payable	5,421		5,421		—		5,421		—
Long-term debt	27,970		27,477		—		27,477		—
Subordinated debentures held by subsidiary trusts	82,477		73,554		—		73,554		—
Derivative liabilities	1,314		1,314		—		1,314		—
Deferred compensation plan liabilities	10,627		10,627		—		10,627		—
Total financial liabilities	$	8,041,481	$	8,025,137	$	6,324,512	$	1,700,625	$	—



					Fair Value Measurements at Reporting Date Using
As of December 31, 2015	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents	$	780,457	$	780,457	$	780,457	$	—	$	—
Investment securities available-for-sale	1,456,840		1,456,840		—		1,456,840		—
Investment securities held-to-maturity	600,665		607,550		—		607,550		—
Accrued interest receivable	27,729		27,729		—		27,729		—
Mortgage servicing rights, net	15,621		31,011		—		31,011		—
Net loans	5,169,379		5,128,705		—		5,107,830		20,875
Derivative assets	953		953		—		953		—
Deferred compensation plan assets	10,149		10,149		—		10,149		—
Total financial assets	$	8,061,793	$	8,043,394	$	780,457	$	7,242,062	$	20,875

Financial liabilities:
Total deposits, excluding time deposits	$	5,957,345	$	5,975,345	$	5,975,345	$	—	$	—
Time deposits	1,131,592		1,137,289		—		1,137,289		—
Securities sold under repurchase agreements	510,635		510,635		—		510,635		—
Other borrowed funds	2		2		—		2		—
Accrued interest payable	4,960		4,960		—		4,960		—
Long-term debt	27,885		27,622		—		27,622		—
Subordinated debentures held by subsidiary trusts	82,477		74,969		—		74,969		—
Derivative liabilities	829		829		—		829		—
Deferred compensation plan liabilities	10,149		10,149		—		10,149		—
Total financial liabilities	$	7,725,874	$	7,741,800	$	5,975,345	$	1,766,455	$	—