Fair Value Information (Tables)

6 Months Ended

Jun. 30, 2016

Assets and Liabilities Measured at Fair Value on Recurring Basis

The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented.


	Carrying Value at June 30, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
Description of assets
Investment securities - AFS:
Government agency/GSE	$	4,763	$	-	$	4,763	$	-
Residential mortgage-backed securities		1,717,450		-		1,717,450		-
CMO/REMIC - residential		397,896		-		397,896		-
Municipal bonds		122,648		-		122,648		-
Other securities		5,275		-		5,275		-

Total investment securities - AFS		2,248,032		-		2,248,032		-
Interest rate swaps		15,161		-		15,161		-

Total assets	$	2,263,193	$	-	$	2,263,193	$	-

Description of liability
Interest rate swaps	$	15,161	$	-	$	15,161	$	-

Total liabilities	$	15,161	$	-	$	15,161	$	-


	Carrying Value at December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
Description of assets
Investment securities - AFS:
Government agency/GSE	$	5,745	$	-	$	5,745	$	-
Residential mortgage-backed securities		1,813,097		-		1,813,097		-
CMO/REMIC - residential		383,781		-		383,781		-
Municipal bonds		160,973		-		160,973		-
Other securities		5,050		-		5,050		-

Total investment securities - AFS		2,368,646		-		2,368,646		-
Interest rate swaps		9,344		-		9,344		-

Total assets	$	2,377,990	$	-	$	2,377,990	$	-

Description of liability
Interest rate swaps	$	9,344	$	-	$	9,344	$	-

Total liabilities	$	9,344	$	-	$	9,344	$	-

Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets that had losses during the period.


	Carrying Value at June 30, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Losses For the Six Months Ended June 30, 2016
					(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial	$	95	$	-	$	-		$	95	$	14
SBA		232		-		-			232		42
Real estate:
Commercial real estate		1,000		-		-			1,000		1
Construction		7,651		-		-			7,651		31
SFR mortgage		-		-		-			-		-
Dairy & livestock and agribusiness		-		-		-			-		-
Consumer and other loans		13		-		-			13		4
Other real estate owned		1,522		-		-			1,522		337

Total assets	$	10,513	$	-	$	-		$	10,513	$	429


	Carrying Value at December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Losses For the Year Ended December 31, 2015
						(Dollars in thousands	)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial	$	228	$	-	$	-		$	228	$	228
SBA		41		-		-			41		15
Real estate:
Commercial real estate		-		-		-			-		-
Construction		7,651		-		-			7,651		13
SFR mortgage		588		-		-			588		20
Dairy & livestock and agribusiness		-		-		-			-		-
Consumer and other loans		258		-		-			258		101
Other real estate owned		948		-		-			948		162

Total assets	$	9,714	$	-	$	-		$	9,714	$	539

Estimated Fair Value of Financial Instruments

The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.


	June 30, 2016
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total
			(Dollars in thousands)
Assets
Total cash and cash equivalents	$	699,182	$	699,182	$	-	$	-	$	699,182
Interest-earning balances due from depository institutions		91,272		-		91,272		-		91,272
FHLB stock		17,688		-		17,688		-		17,688
Investment securities available-for-sale		2,248,032		-		2,248,032		-		2,248,032
Investment securities held-to-maturity		724,357		-		742,006		1,475		743,481
Total loans, net of allowance for loan losses		4,176,990		-		-		4,243,374		4,243,374
Swaps		15,161		-		15,161		-		15,161
Liabilities
Deposits:
Noninterest-bearing	$	3,666,206		3,666,206		-		-	$	3,666,206
Interest-bearing		2,919,780		-		2,919,677		-		2,919,677
Borrowings		590,465		-		590,342		-		590,342
Junior subordinated debentures		25,774		-		27,383		-		27,383
Swaps		15,161		-		15,161		-		15,161

	December 31, 2015
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total
			(Dollars in thousands)
Assets
Total cash and cash equivalents	$	106,097	$	106,097	$	-	$	-	$	106,097
Interest-earning balances due from depository institutions		32,691		-		32,691		-		32,691
FHLB stock		17,588		-		17,588		-		17,588
Investment securities available-for-sale		2,368,646		-		2,368,646		-		2,368,646
Investment securities held-to-maturity		850,989		-		851,186		1,853		853,039
Total loans, net of allowance for loan losses		3,957,781		-		-		3,971,329		3,971,329
Swaps		9,344		-		9,344		-		9,344
Liabilities
Deposits:
Noninterest-bearing	$	3,250,174		3,250,174		-		-	$	3,250,174
Interest-bearing		2,667,086		-		2,666,186		-		2,666,186
Borrowings		736,704		-		736,575		-		736,575
Junior subordinated debentures		25,774		-		27,210		-		27,210
Swaps		9,344		-		9,344		-		9,344