Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of carrying amount and estimated fair value of financial instruments



	At December 31, 2018
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	203,406	$	203,406	$	—	$	—	$	203,406
Interest-bearing time deposits with financial institutions	6,143		6,143		—		—		6,143
Investments held to maturity	45,210		—		44,672		—		44,672
Investment securities available-for-sale	1,103,222		—		1,103,222		—		1,103,222
Loans held for sale	5,719		—		6,072		—		6,072
Loans held for investment, net	8,836,818		—		—		8,697,594		8,697,594
Derivative asset	1,929		—		1,681		—		1,681
Accrued interest receivable	37,837		37,837		—		—		37,837
Liabilities:
Deposit accounts	8,658,351		7,247,673		1,403,524		—		8,651,197
FHLB advances	667,606		—		666,864		—		666,864
Other borrowings	75		—		75		—		75
Subordinated debentures	110,313		—		115,613		—		115,613
Derivative liability	1,929		—		1,681		—		1,681
Accrued interest payable	3,255		3,255		—		—		3,255

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



	At December 31, 2018
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	203,406	$	203,406	$	—	$	—	$	203,406
Interest-bearing time deposits with financial institutions	6,143		6,143		—		—		6,143
Investments held to maturity	45,210		—		44,672		—		44,672
Investment securities available-for-sale	1,103,222		—		1,103,222		—		1,103,222
Loans held for sale	5,719		—		6,072		—		6,072
Loans held for investment, net	8,836,818		—		—		8,697,594		8,697,594
Derivative asset	1,929		—		1,681		—		1,681
Accrued interest receivable	37,837		37,837		—		—		37,837
Liabilities:
Deposit accounts	8,658,351		7,247,673		1,403,524		—		8,651,197
FHLB advances	667,606		—		666,864		—		666,864
Other borrowings	75		—		75		—		75
Subordinated debentures	110,313		—		115,613		—		115,613
Derivative liability	1,929		—		1,681		—		1,681
Accrued interest payable	3,255		3,255		—		—		3,255

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, 2018
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Securities at Fair Value
	(dollars in thousands)
Financial assets
Investment securities available for sale:
U.S. Treasury	$	—	$	60,912	$	—	$	60,912
Agency	$	—	$	130,070	$	—	$	130,070
Corporate	—		103,543		—		103,543
Municipal bonds	—		238,630		—		238,630
Collateralized mortgage obligation: residential	—		24,338		—		24,338
Mortgage-backed securities: residential	—		545,729		—		545,729
Total securities available for sale:	$	—	$	1,103,222	$	—	$	1,103,222

Derivative assets	$	—	$	1,681	$	—	$	1,681

Financial liabilities
Derivative liabilities	$	—	$	1,681	$	—	$	1,681



	At December 31, 2017
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Securities at Fair Value
	(dollars in thousands)
Financial assets
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

Derivative assets	$	—	$	1,135	$	—	$	1,135

Financial liabilities
Derivative liabilities	$	—	$	1,135	$	—	$	1,135