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Fair Value Accounting and Measurement (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2016 and 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  at
December 31, 2016
 
Fair Value Measurements at Reporting Date Using
 
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
Securities available for sale
 
 
 
 
 
 
 
 
U.S. government agency and sponsored enterprise mortgage-back securities and collateralized mortgage obligations
 
$
1,465,732

 
$

 
$
1,465,732

 
$

State and municipal securities
 
475,060

 

 
475,060

 

U.S. government agency and government-sponsored enterprise securities
 
331,902

 

 
331,902

 

U.S. government securities
 
800

 
800

 

 

Other securities
 
5,083

 

 
5,083

 

Total securities available for sale
 
$
2,278,577

 
$
800

 
$
2,277,777

 
$

Other assets (Interest rate contracts)
 
$
9,012

 
$

 
$
9,012

 
$

Liabilities
 
 
 
 
 
 
 
 
Other liabilities (Interest rate contracts)
 
$
9,036

 
$

 
$
9,036

 
$

 
 
Fair value  at
December 31, 2015
 
Fair Value Measurements at Reporting Date Using
 
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
Securities available for sale
 
 
 
 
 
 
 
 
U.S. government agency and 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 table sets forth the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the years ended December 31, 2016 and 2015:
 
 
Fair value  at
December 31, 2016
 
Fair Value Measurements at Reporting Date Using
 
Losses During the Year Ended
December 31, 2016
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
(in thousands)
Impaired loans
 
$
3,787

 
$

 
$

 
$
3,787

 
$
5,413

OREO
 
4,388

 

 

 
4,388

 
332

 
 
$
8,175

 
$

 
$

 
$
8,175

 
$
5,745

 
 
Fair value  at
December 31, 2015
 
Fair Value Measurements at Reporting Date Using
 
Losses During the Year Ended
December 31, 2015
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
(in thousands)
Impaired loans
 
$
758

 
$

 
$

 
$
758

 
$
653

OREO
 
4,524

 

 

 
4,524

 
949

 
 
$
5,282

 
$

 
$

 
$
5,282

 
$
1,602

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
The range and weighted-average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets during 2016 and 2015, along with the valuation techniques used, are shown in the following tables:
 
 
Fair value  at
December 31, 2016
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average) (1)
 
 
(dollars in thousands)
Impaired loans - collateral-dependent (3)
 
$
2,248

 
Fair Market Value of Collateral
 
Adjustment to Stated Value
 
N/A (2)
Impaired loans - other
 
$
1,539

 
Discounted Cash Flow
 
Discount Rate
 
4.50% - 6.50% (5.26%)
OREO
 
$
4,388

 
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 accounts receivable, inventory, equipment, and real property.

 
 
Fair value  at
December 31, 2015
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average) (1)
 
 
(dollars in thousands)
Impaired loans - real estate collateral
 
$
380

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Impaired loans - other collateral (3)
 
$
378

 
Fair Market Value of Collateral
 
Adjustment to Stated Value
 
N/A (2)
OREO
 
$
4,524

 
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 equipment and life insurance).
(2) Quantitative disclosures are not provided because there were no adjustments made to the appraisal value during the current period.
(3) Other collateral consists of equipment and life insurance.
Fair Value, by Balance Sheet Grouping
The following tables summarize carrying amounts and estimated fair values of selected financial instruments for the periods indicated:
 
 
December 31,
2016
 
 
Carrying
Amount
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
193,038

 
$
193,038

 
$
193,038

 
$

 
$

Interest-earning deposits with banks
 
31,200

 
31,200

 
31,200

 

 

Securities available for sale
 
2,278,577

 
2,278,577

 
800

 
2,277,777

 

FHLB stock
 
10,240

 
10,240

 

 
10,240

 

Loans held for sale
 
5,846

 
5,846

 

 
5,846

 

Loans
 
6,143,380

 
6,040,439

 

 

 
6,040,439

FDIC loss-sharing asset
 
3,535

 
867

 

 

 
867

Interest rate contracts
 
9,012

 
9,012

 

 
9,012

 

Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
 
$
8,059,415

 
$
8,055,168

 
$
7,653,122

 
$
402,046

 
$

FHLB advances
 
6,493

 
7,070

 

 
7,070

 

Repurchase agreements
 
80,822

 
81,131

 

 
81,131

 

Interest rate contracts
 
9,036

 
9,036

 

 
9,036

 


 
 
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