Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017 and 2016.



	At December 31, 2017
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	200,064	$	200,064	$	—	$	—	$	200,064
Interest-bearing time deposits with financial institutions	3,693		3,693		—		—		3,693
Investments held to maturity	18,291		—		18,082		—		18,082
Investment securities available-for-sale	787,429		—		787,429		—		787,429
FHLB, FRB and other stock	65,881		N/A		N/A		N/A		N/A
Loans held for sale	23,426		—		23,524		—		23,524
Loans held for investment, net	6,167,532		—		—		6,269,366		6,269,366
Accrued interest receivable	27,053		27,053		—		—		27,053
Liabilities:
Deposit accounts	6,085,868		5,001,053		1,074,564		—		6,075,617
FHLB advances	490,148		—		489,823		—		489,823
Other borrowings	46,139		—		46,373		—		46,373
Subordinated debentures	105,123		—		115,159		—		115,159
Accrued interest payable	2,131		2,131		—		—		2,131

	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	3,145,581		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	1,481		1,481		—		—		1,481

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, 2017 and 2016.



	At December 31, 2017
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	200,064	$	200,064	$	—	$	—	$	200,064
Interest-bearing time deposits with financial institutions	3,693		3,693		—		—		3,693
Investments held to maturity	18,291		—		18,082		—		18,082
Investment securities available-for-sale	787,429		—		787,429		—		787,429
FHLB, FRB and other stock	65,881		N/A		N/A		N/A		N/A
Loans held for sale	23,426		—		23,524		—		23,524
Loans held for investment, net	6,167,532		—		—		6,269,366		6,269,366
Accrued interest receivable	27,053		27,053		—		—		27,053
Liabilities:
Deposit accounts	6,085,868		5,001,053		1,074,564		—		6,075,617
FHLB advances	490,148		—		489,823		—		489,823
Other borrowings	46,139		—		46,373		—		46,373
Subordinated debentures	105,123		—		115,159		—		115,159
Accrued interest payable	2,131		2,131		—		—		2,131

	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	3,145,581		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	1,481		1,481		—		—		1,481

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, 2017
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Securities at Fair Value
	(dollars in thousands)
Investment securities available for sale:
Agency	$	—	$	47,209	$	—	$	47,209
Corporate	—		79,546		—		79,546
Municipal bonds	—		232,128		—		232,128
Collateralized mortgage obligation: residential	—		33,781		—		33,781
Mortgage-backed securities: residential	—		394,765		—		394,765
Total securities available for sale:	$	—	$	787,429	$	—	$	787,429

	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