Fair Value Accounting and Measurement (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Financial Assets And Liabilities Accounted For Fair Value On Recurring Basis

The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at September 30, 2016 and December 31, 2015 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

	Fair value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
September 30, 2016	(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,512,924	$	—	$	1,512,924	$	—
State and municipal debt securities	503,118		—		503,118		—
U.S. government agency and government-sponsored enterprise securities	338,292		—		338,292		—
U.S. government securities	548		548		—		—
Other securities	5,202		—		5,202		—
Total securities available for sale	$	2,360,084	$	548	$	2,359,536	$	—
Other assets (Interest rate contracts)	$	19,803	$	—	$	19,803	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	19,841	$	—	$	19,841	$	—

	Fair value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
December 31, 2015	(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,286,489	$	—	$	1,286,489	$	—
State and municipal debt securities	492,169		—		492,169		—
U.S. government agency and government-sponsored enterprise securities	353,782		—		353,782		—
U.S. government securities	20,137		20,137		—		—
Other securities	5,117		—		5,117		—
Total securities available for sale	$	2,157,694	$	20,137	$	2,137,557	$	—
Other assets (Interest rate contracts)	$	12,438	$	—	$	12,438	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	12,478	$	—	$	12,478	$	—

Financial Assets Accounted For Fair Value On Nonrecurring Basis

The following tables set forth information related to the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the current and prior year quarterly periods:

	Fair value at September 30, 2016		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended September 30, 2016			Losses During the Nine Months Ended September 30, 2016
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	2,304	$	—	$	—	$	2,304	$	(647	)	$	(3,285	)
OREO	335		—		—		335		(14		)	(14		)
	$	2,639	$	—	$	—	$	2,639	$	(661	)	$	(3,299	)

	Fair value at September 30, 2015		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended September 30, 2015			Losses During the Nine Months Ended September 30, 2015
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	350	$	—	$	—	$	350	$	(1,012	)	$	(1,012	)
OREO	3,286		—		—		3,286		(646		)	(662		)
	$	3,636	$	—	$	—	$	3,636	$	(1,658	)	$	(1,674	)

Fair Value, by Balance Sheet Grouping

The following tables summarize carrying amounts and estimated fair values of selected financial instruments as well as assumptions used by the Company in estimating fair value at September 30, 2016 and December 31, 2015:

	September 30, 2016
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	180,839	$	180,839	$	180,839	$	—	$	—
Interest-earning deposits with banks	11,225		11,225		11,225		—		—
Securities available for sale	2,360,084		2,360,084		548		2,359,536		—
FHLB stock	12,640		12,640		—		12,640		—
Loans held for sale	3,361		3,361		—		3,361		—
Loans	6,189,493		6,274,917		—		—		6,274,917
FDIC loss-sharing asset	3,592		594		—		—		594
Interest rate contracts	19,803		19,803		—		19,803		—
Liabilities
Deposits	$	8,057,816	$	8,054,970	$	7,645,310	$	409,660	$	—
FHLB advances	66,502		67,826		—		67,826		—
Repurchase agreements	69,189		69,543		—		69,543		—
Interest rate contracts	19,841		19,841		—		19,841		—

	December 31, 2015
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	166,929	$	166,929	$	166,929	$	—	$	—
Interest-earning deposits with banks	8,373		8,373		8,373		—		—
Securities available for sale	2,157,694		2,157,694		20,137		2,137,557		—
FHLB stock	12,722		12,722		—		12,722		—
Loans held for sale	4,509		4,509		—		4,509		—
Loans	5,746,855		5,752,423		—		—		5,752,423
FDIC loss-sharing asset	6,568		921		—		—		921
Interest rate contracts	12,438		12,438		—		12,438		—
Liabilities
Deposits	$	7,438,829	$	7,434,787	$	6,979,924	$	454,863	$	—
FHLB advances	68,531		69,176		—		69,176		—
Repurchase agreements	99,699		100,346		—		100,346		—
Interest rate contracts	12,478		12,478		—		12,478		—

Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Inputs, Assets, Quantitative Information

The range and weighted-average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets, along with the valuation techniques used, are shown in the following table:

	Fair value at September 30, 2016		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans - collateral-dependent (3)	$	943	Fair Market Value of Collateral	Adjustment to Stated Value	N/A (2)
Impaired loans - other	$	1,361	Discounted Cash Flow	Discount Rate	2.85% - 6.50% (3.85%)
OREO	$	335	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
(1) Discount rate used in discounted cash flow valuation.
(2) Quantitative disclosures are not provided for collateral-dependent impaired loans and OREO because there were no adjustments made to the appraisal values or stated values during the current period.
(3) Collateral consists of fixed assets and accounts receivable.

	Fair value at September 30, 2015		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans	$	350	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
OREO	$	3,286	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
(1) Discount applied to appraisal value, letter of intent to purchase, or stated value (in the case of accounts receivable, inventory and equipment).
(2) Quantitative disclosures are not provided for impaired loans and OREO because there were no adjustments made to the appraisal value during the current period.