Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of carrying amount and estimated fair value of financial instruments

The fair value estimates presented herein are based on pertinent information available to management as of December 31, 2016 and 2015.



	At December 31, 2016
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	156,857	$	156,857	$	—	$	—	$	156,857
Interest-bearing time deposits with financial institutions	3,944		3,944		—		—		3,944
Investments held to maturity	8,565		—		8,461				8,461
Investment securities available-for-sale	380,963		—		380,963		—		380,963
FHLB, FRB and other stock	37,304		N/A		N/A		N/A		N/A
Loans held for sale	7,711		—		8,405		—		8,405
Loans held for investment, net	3,220,317		—		—		3,211,154		3,211,154
Accrued interest receivable	13,145		13,145		—		—		13,145
Liabilities:
Deposit accounts	3,145,485		2,330,579		573,467		—		2,904,046
FHLB advances	278,000		—		277,935		—		277,935
Other borrowings	49,971		—		50,905		—		50,905
Subordinated debentures	69,383		—		69,982		—		69,982
Accrued interest payable	263		263		—		—		263

	At December 31, 2015
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	78,417	$	78,417	$	—	$	—	$	78,417
Interest-bearing time deposits with financial institutions	1,972		1,972		—		—		1,972
Investments held to maturity	9,642		—		9,572				9,572
Investment securities available for sale	280,273		—		280,273		—		280,273
FHLB, FRB and other stock	22,292		N/A		N/A		N/A		N/A
Loans held for sale	8,565		—		9,507		—		9,507
Loans held for investment, net	2,236,998		—		—		2,244,936		2,244,936
Accrued interest receivable	9,315		9,315		—		—		9,315
Liabilities:
Deposit accounts	2,195,123		1,674,148		521,291		—		2,195,439
FHLB advances	148,000		—		148,036		—		148,036
Other borrowings	48,125		—		49,156		—		49,156
Subordinated debentures	69,263		—		68,675		—		68,675
Accrued interest payable	206		206		—		—		206

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

The fair value estimates presented herein are based on pertinent information available to management as of December 31, 2016 and 2015.



	At December 31, 2016
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	156,857	$	156,857	$	—	$	—	$	156,857
Interest-bearing time deposits with financial institutions	3,944		3,944		—		—		3,944
Investments held to maturity	8,565		—		8,461				8,461
Investment securities available-for-sale	380,963		—		380,963		—		380,963
FHLB, FRB and other stock	37,304		N/A		N/A		N/A		N/A
Loans held for sale	7,711		—		8,405		—		8,405
Loans held for investment, net	3,220,317		—		—		3,211,154		3,211,154
Accrued interest receivable	13,145		13,145		—		—		13,145
Liabilities:
Deposit accounts	3,145,485		2,330,579		573,467		—		2,904,046
FHLB advances	278,000		—		277,935		—		277,935
Other borrowings	49,971		—		50,905		—		50,905
Subordinated debentures	69,383		—		69,982		—		69,982
Accrued interest payable	263		263		—		—		263

	At December 31, 2015
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	78,417	$	78,417	$	—	$	—	$	78,417
Interest-bearing time deposits with financial institutions	1,972		1,972		—		—		1,972
Investments held to maturity	9,642		—		9,572				9,572
Investment securities available for sale	280,273		—		280,273		—		280,273
FHLB, FRB and other stock	22,292		N/A		N/A		N/A		N/A
Loans held for sale	8,565		—		9,507		—		9,507
Loans held for investment, net	2,236,998		—		—		2,244,936		2,244,936
Accrued interest receivable	9,315		9,315		—		—		9,315
Liabilities:
Deposit accounts	2,195,123		1,674,148		521,291		—		2,195,439
FHLB advances	148,000		—		148,036		—		148,036
Other borrowings	48,125		—		49,156		—		49,156
Subordinated debentures	69,263		—		68,675		—		68,675
Accrued interest payable	206		206		—		—		206

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

The following fair value hierarchy tables present information about the Company’s assets measured at fair value on a recurring basis at the dates indicated:



	At December 31, 2016
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Securities at Fair Value
	(dollars in thousands)
Investment securities available for sale:
Corporate	$	—	$	37,642	$	—	$	37,642
Municipal bonds	—		118,803		—		118,803
Collateralized mortgage obligation: residential	—		31,388		—		31,388
Mortgage-backed securities: residential	—		193,130		—		193,130
Total securities available for sale:	$	—	$	380,963	$	—	$	380,963

	At December 31, 2015
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Securities at Fair Value
	(dollars in thousands)
Investment securities available for sale:
Municipal bonds	$	—	$	130,245	$	—	$	130,245
Collateralized mortgage obligation: residential	—		24,543		—		24,543
Mortgage-backed securities: residential	—		125,485		—		125,485
Total securities available for sale:	$	—	$	280,273	$	—	$	280,273