Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Measurements

Schedule of financial assets and financial liabilities measured at fair value on a recurring basis

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
	(dollars in thousands)
September 30, 2013
Available for sale
U.S. Treasury securities	$	—	$	103,338	$	—	$	103,338
Obligations of U.S. government corporations and agencies	—		288,369		—		288,369
Obligations of states and political subdivisions	—		293,287		—		293,287
Residential mortgage-backed securities	—		190,133		—		190,133
Corporate debt securities	—		25,490		—		25,490
Mutual funds and other equity securities	6,805		—		—		6,805
	$	6,805	$	900,617	$	—	$	907,422
December 31, 2012
Available for sale
U.S. Treasury securities	$	—	$	104,656	$	—	$	104,656
Obligations of U.S. government corporations and agencies	—		370,194		—		370,194
Obligations of states and political subdivisions	—		280,288		—		280,288
Residential mortgage-backed securities	—		217,715		—		217,715
Corporate debt securities	24,714		—		—		24,714
Mutual funds and other equity securities	3,930		—		—		3,930
	$	28,644	$	972,853	$	—	$	1,001,497

Schedule of assets and liabilities measured at fair value on a non-recurring basis

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
	(dollars in thousands)
September 30, 2013
Impaired loans	$	—	$	—	$	3,963	$	3,963
OREO	—		—		1,192		1,192
December 31, 2012
Impaired loans	$	—	$	—	$	2,284	$	2,284
OREO	—		—		511		511

Schedule of quantitative information about Level 3 fair value measurements

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable	Range
	Estimate		Techniques	Input	(Weighted Average)
	(dollars in thousands)
September 30, 2013
Impaired loans	$	3,963	Appraisal of collateral	Appraisal adjustments	-0.8% to -100.0% (-34.9%)
OREO	1,192		Appraisal of collateral	Appraisal adjustments	-6.1% to -100.0% (-48.7%)

Schedule of estimated fair values of financial instruments

	September 30, 2013				December 31, 2012
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
	(dollars in thousands)
Financial assets:
Level 2 inputs:
Cash and due from banks	$	198,668	$	198,668	$	351,255	$	351,255
Securities held to maturity	838		844		—		—
Loans held for sale	17,500		17,828		40,003		40,971
Accrued interest receivable	12,371		12,371		12,275		12,275
Level 3 inputs:
Loans, net	2,185,141		2,189,051		1,985,095		2,006,588
Financial liabilities:
Level 2 inputs:
Deposits	$	2,879,852	$	2,882,254	$	2,980,292	$	2,987,524
Securities sold under agreements to repurchase	156,510		156,510		139,024		139,024
Long-term debt	—		—		7,000		7,120
Junior subordinated debt owed to unconsolidated trusts	55,000		55,000		55,000		55,000
Accrued interest payable	742		742		1,128		1,128