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FAIR VALUE MEASURES (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Loans Held For Sale Fair Value
The Company's loans held for sale under the fair value option are comprised of the following:
December 31,
(dollars in thousands)20192018
Mortgage loans held for sale$1,647,900  $107,428  
SBA loans held for sale8,811  3,870  
Total loans held for sale$1,656,711  $111,298  
Difference Between Fair Value and Principal Balance for Mortgage Loans Held for Sale Measured at Fair Value
The following table summarizes the difference between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of December 31, 2019 and 2018.
December 31,
(dollars in thousands)20192018
Aggregate fair value of mortgage loans held for sale$1,647,900  $107,428  
Aggregate unpaid principal balance of mortgage loans held for sale1,598,057  103,319  
Past due loans of 90 days or more1,649  —  
Nonaccrual loans1,649  —  
Unpaid principal balance of nonaccrual loans1,616  —  

The following table summarizes the difference between the fair value and the principal balance for SBA loans held for sale measured at fair value as of December 31, 2019 and 2018.
December 31,
(dollars in thousands)20192018
Aggregate fair value of SBA loans held for sale$8,811  $3,870  
Aggregate unpaid principal balance of SBA loans held for sale8,206  3,581  
Past due loans of 90 days or more—  —  
Nonaccrual loans—  —  
Fair Value Measurements of Assets and Liabilities Measured on Recurring Basis
The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of December 31, 2019 and 2018.

Recurring Basis
Fair Value Measurements
December 31, 2019
(dollars in thousands) Fair ValueLevel 1Level 2Level 3
Financial assets:
U.S. government sponsored agencies$22,362  $—  $22,362  $—  
State, county and municipal securities105,260  —  105,260  —  
Corporate debt securities52,999  —  51,499  1,500  
SBA pool securities73,912  —  73,912  —  
Mortgage-backed securities1,148,870  —  1,148,870  —  
Loans held for sale1,656,711  —  1,656,711  —  
Mortgage banking derivative instruments7,814  —  7,814  —  
Total recurring assets at fair value$3,067,928  $—  $3,066,428  $1,500  
Financial liabilities:
Derivative financial instruments$187  $—  $187  $—  
Mortgage banking derivative instruments4,471  —  4,471  —  
Total recurring liabilities at fair value$4,658  $—  $4,658  $—  
                                                                                                    
Recurring Basis
Fair Value Measurements
December 31, 2018
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
Financial assets:
State, county and municipal securities$150,733  $—  $150,733  $—  
Corporate debt securities67,314  —  65,814  1,500  
SBA pool securities77,804  —  77,804  —  
Mortgage-backed securities896,572  —  896,572  —  
Loans held for sale111,298  —  111,298  —  
Derivative financial instruments102  —  102  —  
Mortgage banking derivative instruments2,537  —  2,537  —  
Total recurring assets at fair value$1,306,360  $—  $1,304,860  $1,500  
Financial liabilities:
Mortgage banking derivative instruments$1,276  $—  $1,276  $—  
Total recurring liabilities at fair value$1,276  $—  $1,276  $—  
Summary of Fair Value Measurements of Assets Measured at Fair Value on Non-Recurring Basis
The following table presents the fair value measurements of assets measured at fair value on a non-recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy as of December 31, 2019 and 2018.

Nonrecurring Basis
Fair Value Measurements
December 31, 2019
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
Impaired loans carried at fair value$43,788  $—  $—  $43,788  
Other real estate owned2,289  —  —  2,289  
Purchased other real estate owned15,000  —  —  15,000  
Total nonrecurring assets at fair value$61,077  $—  $—  $61,077  

Nonrecurring Basis
Fair Value Measurements
December 31, 2018
(dollars in thousands)Fair ValueLevel 1Level 2Level 3
Impaired loans carried at fair value$28,653  $—  $—  $28,653  
Other real estate owned408  —  —  408  
Purchased other real estate owned9,535  —  —  9,535  
Total nonrecurring assets at fair value$38,596  $—  $—  $38,596  
Summary of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets and Liabilities
The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets.

(dollars in thousands)Fair ValueValuation
Technique		Unobservable
Inputs		Range of DiscountsWeighted Average Discount
As of December 31, 2019
Recurring:
Investment securities available for sale$1,500  Discounted par valuesCredit quality of
underlying issuer		0%  0%  
Nonrecurring:
Impaired loans$43,788  Third party appraisals
and discounted cash
flows		Collateral
discounts and
discount rates
1% - 95%
27%  
Other real estate owned$2,289  Third party appraisals
and sales contracts		Collateral
discounts and
estimated
costs to sell
15% - 31%
25%  
Purchased other real estate owned$15,000  Third party appraisalsCollateral
discounts and
estimated
costs to sell
9% - 89%
31%  
As of December 31, 2018
Recurring:
Investment securities available for sale$1,500  Discounted par valuesCredit quality of
underlying issuer		0%  0%  
Nonrecurring:
Impaired loans$28,653  Third party appraisals
and discounted cash
flows		Collateral
discounts and
discount rates
3% - 53%
30%  
Other real estate owned$408  Third party appraisals
and sales contracts		Collateral
discounts and
estimated
costs to sell
15% - 69%
31%  
Purchased other real estate owned$9,535  Third party appraisalsCollateral
discounts and
estimated
costs to sell
6% - 74%
39%  
Carrying Amount and Estimated Fair Value of Financial Instruments
The carrying amount and estimated fair value of the Company’s financial instruments, not shown elsewhere in these financial statements, were as follows.
Fair Value Measurements
December 31, 2019
(dollars in thousands)Carrying AmountLevel 1Level 2Level 3Total
Financial assets:
Cash and due from banks$246,234  $246,234  $—  $—  $246,234  
Federal funds sold and interest-bearing accounts375,615  375,615  —  —  375,615  
Time deposits in other banks249  —  249  —  249  
Loans, net12,736,499  —  —  12,806,709  12,806,709  
Accrued interest receivable52,362  —  5,179  47,183  52,362  
Financial liabilities:
Deposits14,027,073  —  14,035,686  —  14,035,686  
Securities sold under agreements to repurchase20,635  20,635  —  —  20,635  
Other borrowings1,398,709  —  1,402,510  —  1,402,510  
Subordinated deferrable interest debentures127,560  —  126,815  —  126,815  
FDIC loss-share payable19,642  —  —  19,657  19,657  
Accrued interest payable11,524  —  11,524  —  11,524  

Fair Value Measurements
December 31, 2018
(dollars in thousands)Carrying AmountLevel 1Level 2Level 3Total
Financial assets:
Cash and due from banks$172,036  $172,036  $—  $—  $172,036  
Federal funds sold and interest-bearing accounts507,491  507,491  —  —  507,491  
Time deposits in other banks10,812  —  10,812  —  10,812  
Loans, net8,454,442  —  —  8,365,293  8,365,293  
Accrued interest receivable36,970  —  5,456  31,514  36,970  
Financial liabilities:
Deposits9,649,313  —  9,645,617  —  9,645,617  
Securities sold under agreements to repurchase20,384  20,384  —  —  20,384  
Other borrowings151,774  —  152,873  —  152,873  
Subordinated deferrable interest debentures89,187  —  90,180  —  90,180  
FDIC loss-share payable19,487  —  —  19,576  19,576  
Accrued interest payable5,669  —  5,669  —  5,669