Fair Value Information (Tables)

12 Months Ended

Dec. 31, 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 December 31, 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	$	2,752	$	-	$	2,752	$	-
Residential mortgage-backed securities		1,834,748		-		1,834,748		-
CMO/REMIC - residential		347,189		-		347,189		-
Municipal bonds		80,071		-		80,071		-
Other securities		5,706		-		5,706		-

Total investment securities - AFS		2,270,466		-		2,270,466		-
Interest rate swaps		5,783		-		5,783		-

Total assets	$	2,276,249	$	-	$	2,276,249	$	-

Description of liability
Interest rate swaps	$	5,783	$	-	$	5,783	$	-

Total liabilities	$	5,783	$	-	$	5,783	$	-


	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 December 31, 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 Year Ended December 31, 2016
	(Dollars in thousands)
Description of assets
Impaired loans, excluding PCI loans:
Commercial and industrial	$	65	$	-	$	-	$	65	$	8
SBA		196		-		-		196		27
Real estate:
Commercial real estate		-		-		-		-		-
Construction		-		-		-		-		-
SFR mortgage		-		-		-		-		-
Dairy & livestock and agribusiness		-		-		-		-		-
Consumer and other loans		-		-		-		-		-
Other real estate owned		-		-		-		-		-
Asset held-for-sale		3,411		-		-		3,411		2,558

Total assets	$	3,672	$	-	$	-	$	3,672	$	2,593


	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.


	December 31, 2016
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets
Total cash and cash equivalents	$	119,445	$	119,445	$	-	$	-	$	119,445
Interest-earning balances due from depository institutions		2,188		-		2,188		-		2,188
FHLB stock		17,688		-		17,688		-		17,688
Investment securities available-for-sale		2,270,466		-		2,270,466		-		2,270,466
Investment securities held-to-maturity		911,676		-		897,374		-		897,374
Total loans, net of allowance for loan losses		4,333,524		-		-		4,306,225		4,306,225
Swaps		5,783		-		5,783		-		5,783
Liabilities
Deposits:
Noninterest-bearing	$	3,673,541	$	3,673,541	$	-	$	-	$	3,673,541
Interest-bearing		2,636,139		-		2,634,443		-		2,634,443
Borrowings		656,028		-		655,820		-		655,820
Junior subordinated debentures		25,774		-		-		18,463		18,463
Swaps		5,783		-		5,783		-		5,783

	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