Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value of Financial Instruments

Schedule of carrying amount and estimated fair value of financial instruments

	At December 31, 2014
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(in thousands)
Assets:
Cash and cash equivalents	$	110,925	$	110,925	$	—	$	—	$	110,925
Securities available for sale	201,638		—		201,638		—		201,638
Federal Reserve Bank and FHLB stock, at cost	17,067		17,067		—		—		17,067
Loans held for investment, net	1,616,422		—		—		2,116,719		2,116,719
Accrued interest receivable	7,131		7,131		—		—		7,131
Other real estate owned	1,037		—		1,037		—		1,037
Liabilities:
Deposit accounts	1,630,826		1,216,847		519,898		—		1,736,745
FHLB advances	70,000		70,025		—		—		70,025
Other borrowings	46,643		—		48,312		—		48,312
Subordinated debentures	70,310		—		33,456		—		33,456
Accrued interest payable	209		209		—		—		209

	At December 31, 2013
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(in thousands)
Assets:
Cash and cash equivalents	$	126,813	$	126,813	$	—	$	—	$	126,813
Securities available for sale	256,089		—		256,089		—		256,089
Federal Reserve Bank and FHLB stock, at cost	15,450		15,450		—		—		15,450
Loans held for sale, net	3,147		—		3,147		—		3,147
Loans held for investment, net	1,231,923		—		—		1,230,316		1,230,316
Accrued interest receivable	6,254		6,254		—		—		6,254
Other real estate owned	1,186		—		1,186		—		1,186
Liabilities:
Deposit accounts	1,306,286		991,630		301,007		—		1,292,637
FHLB advances	156,000		156,000		—		—		156,000
Other borrowings	48,091		—		49,058		—		49,058
Subordinated debentures	10,310		—		4,696		—		4,696
Accrued interest payable	166		166		—		—		166

Schedule of Off-balance sheet commitments and standby letters of credit

	Notional Amount		Level 1		Level 2		Level 3		Cost to Cede or Assume
Off-balance sheet commitments and standby letters of credit	$	355,024	$	—	$	35,502	$	—	$	35,502

	Notional Amount		Level 1		Level 2		Level 3		Cost to Cede or Assume
Off-balance sheet commitments and standby letters of credit	$	337,181	$	—	$	33,718	$	—	$	33,718

Schedule of Company's assets measured at fair value on a recurring basis

	At December 31, 2014
	Fair Value Measurement Using						Assets at
	Level 1		Level 2		Level 3		Fair Value
	(in thousands)
Assets
Marketable securities	$	—	$	201,638	$	—	$	201,638
Total assets	$	—	$	201,638	$	—	$	201,638

	At December 31, 2013
	Fair Value Measurement Using						Assets at
	Level 1		Level 2		Level 3		Fair Value
	(in thousands)
Assets
Marketable securities	$	—	$	256,089	$	—	$	256,089
Total assets	$	—	$	256,089	$	—	$	256,089

Schedule of Company's assets measured at fair value on a non-recurring basis

	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Assets at Fair Value
	(in thousands)
Assets
Collateral dependent impaired loans	$	—	$	—	$	921	$	921
Other real estate owned	—		1,037		—		1,037
Total assets	$	—	$	1,037	$	921	$	1,958

Schedule of quantitative information about level 3 of fair value measurements for financial instruments measured at fair value on a non-recurring basis

	December 31, 2014
					Range
	Fair Value		Valuation Techniques	Unobservable Inputs	Rate	Maturity (years)	Unobservable Inputs
Collateral dependent impaired loans:
Business loans:
Commercial owner occupied	$	388	Collateral valuation	Management adjustment to reflect current conditions and selling costs	6.75%	7	0-10%
Real estate loans:
Commercial non-owner occupied	479		Collateral valuation	Management adjustment to reflect current conditions and selling costs	7.00% - 7.50%	2 - 12	0-15%
One-to-four family	54		Collateral valuation	Management adjustment to reflect current conditions and selling costs	8.00% - 15.00%	5 - 16	0-10%
Total collateral dependent impaired loans	$	921
Other real estate owned
One-to-four family	$	285	Collateral valuation	Management adjustment to reflect current conditions and selling costs	—	—	0-10%
Land	752		Collateral valuation	Management adjustment to reflect current conditions and selling costs	—	—	0-10%
Total other real estate owned	$	1,037