Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Financial Asset and Liabilities Measured at Fair Value on Recurring Basis

The Company has segregated all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to estimate the fair value at the measurement date in the tables below.



	September 30, 2018
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale	$	—	$	4,634,124	$	—	$	4,634,124
CRA and Community Development Investment Funds	—		1,866		—		1,866
Mortgage loans held for sale	—		42,976		—		42,976
Mortgage loans held for investment, at fair value option	—		7,249		—		7,249
Derivative instruments	—		12,570		—		12,570
Total	$	—	$	4,698,785	$	—	$	4,698,785
Liabilities
Derivative instruments	$	—	$	42,764	$	—	$	42,764
Total	$	—	$	42,764	$	—	$	42,764

	December 31, 2017
	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale	$	—	$	4,590,062	$	—	$	4,590,062
Mortgage loans held for sale	—		134,916		—		134,916
Mortgage loans held for investment, at fair value option	—		14,953		—		14,953
Derivative instruments	—		31,265		—		31,265
Total	$	—	$	4,771,196	$	—	$	4,771,196
Liabilities
Derivative instruments	$	—	$	25,154	$	—	$	25,154
Total	$	—	$	25,154	$	—	$	25,154

Financial Asset and Liabilities Measured at Fair Value on Nonrecurring Basis

The Company has segregated all assets and liabilities that are measured at fair value on a non-recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below.



	September 30, 2018
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Loans	$	—	$	—	$	60,307	$	60,307
OREO, net	—		—		5,148		5,148
Total	$	—	$	—	$	65,455	$	65,455

	December 31, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Loans	$	—	$	—	$	71,210	$	71,210
OREO, net	—		—		3,029		3,029
Total	$	—	$	—	$	74,239	$	74,239

Summary of Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Mortgage Loans Held for Sale

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale and mortgage loans held for investment measured at fair value:



	September 30, 2018							December 31, 2017
(Dollars in thousands)	Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Unpaid Principal			Aggregate Fair Value		Aggregate Unpaid Principal		Aggregate Fair Value Less Unpaid Principal
Mortgage loans held for sale, at fair value	$	42,976	$	41,848	$	1,128		$	134,916	$	131,276	$	3,640
Mortgage loans held for investment, at fair value	7,249		8,666		(1,417		)	14,953		16,306		(1,353		)

Fair Value Option, Disclosures

The following table details net gains (losses) resulting from the change in fair value of loans that were recorded in mortgage income in the consolidated statements of comprehensive income for the three and nine months ended September 30, 2018 and 2017. The changes in fair value are mostly offset by economic hedging activities, with an insignificant portion of these changes attributable to changes in instrument-specific credit risk.



	Net Gains (Losses) Resulting From Changes in Fair Value
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(Dollars in thousands)	2018			2017			2018			2017
Fair value option
Mortgage loans held for sale, at fair value	$	(1,041	)	$	251		$	(2,513	)	$	1,121
Mortgage loans held for investment, at fair value	(296		)	(62		)	(1,217		)	(127		)