Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

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 the dates indicated, representing an exit price.

	At March 31, 2019
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(dollars in thousands)
Assets:
Cash and cash equivalents	$	178,382	$	178,382	$	—	$	—	$	178,382
Interest-bearing time deposits with financial institutions	5,896		5,896		—		—		5,896
Investments held-to-maturity	43,894		—		43,980		—		43,980
Investment securities available-for-sale	1,171,410		—		1,171,410		—		1,171,410
Loans held for sale	11,671		—		12,469		—		12,469
Loans held for investment, net	8,865,855		—		—		8,779,827		8,779,827
Derivative asset	1,068		—		1,068		—		1,068
Accrued interest receivable	40,302		40,302		—		—		40,302
Liabilities:
Deposit accounts	8,715,175		7,123,041		1,587,744		—		8,710,785
FHLB advances	609,591		—		610,589		—		610,589
Subordinated debentures	110,381		—		118,827		—		118,827
Derivative liability	1,068		—		1,068		—		1,068
Accrued interest payable	2,803		2,803		—		—		2,803

	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 financial instruments measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis at the dates indicated:

	March 31, 2019
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Total Fair Value
	(dollars in thousands)
Financial assets
Investment securities available-for-sale:
U.S. Treasury	$	—	$	61,901	$	—	$	61,901
Agency	—		165,488		—		165,488
Corporate	—		137,855		—		137,855
Municipal bonds	—		217,016		—		217,016
Collateralized mortgage obligation	—		23,451		—		23,451
Mortgage-backed securities	—		565,699		—		565,699
Total securities available-for-sale	$	—	$	1,171,410	$	—	$	1,171,410
Derivative assets	$	—	$	1,068	$	—	$	1,068
Financial liabilities
Derivative liabilities	$	—	$	1,068	$	—	$	1,068

	December 31, 2018
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Total Fair Value
	(dollars in thousands)
Financial assets
Investment securities available-for-sale:
Treasury	$	—	$	60,912	$	—	$	60,912
Agency	—		130,070		—		130,070
Corporate	—		103,543		—		103,543
Municipal bonds	—		238,630		—		238,630
Collateralized mortgage obligation	—		24,338		—		24,338
Mortgage-backed securities	—		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