Fair Value Accounting and Measurement (Tables)

9 Months Ended

Sep. 30, 2017

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, 2017 and December 31, 2016 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, 2017	(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,377,417	$	—	$	1,377,417	$	—
State and municipal debt securities	483,488		—		483,488		—
U.S. government agency and government-sponsored enterprise securities	341,604		—		341,604		—
U.S. government securities	250		250		—		—
Other securities	5,114		—		5,114		—
Total securities available for sale	$	2,207,873	$	250	$	2,207,623	$	—
Other assets (Interest rate contracts)	$	8,992	$	—	$	8,992	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	9,004	$	—	$	9,004	$	—

	Fair value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
December 31, 2016	(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,465,732	$	—	$	1,465,732	$	—
State and municipal debt 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	$	—

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, 2017		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended September 30, 2017		Losses During the Nine Months Ended September 30, 2017
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	843	$	—	$	—	$	843	$	170	$	170
OREO	625		—		—		625		138		138
	$	1,468	$	—	$	—	$	1,468	$	308	$	308

	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, 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, 2017 and December 31, 2016:

	September 30, 2017
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	186,116	$	186,116	$	186,116	$	—	$	—
Interest-earning deposits with banks	136,578		136,578		136,578		—		—
Securities available for sale	2,207,873		2,207,873		250		2,207,623		—
FHLB stock	10,240		10,240		—		10,240		—
Loans held for sale	7,802		7,802		—		7,802		—
Loans	6,440,390		6,309,449		—		—		6,309,449
Interest rate contracts	8,992		8,992		—		8,992		—
Liabilities
Deposits	$	8,341,717	$	8,337,145	$	7,960,870	$	376,275	$	—
FHLB advances	6,465		7,367		—		7,367		—
Repurchase agreements	40,933		40,987		—		40,987		—
Interest rate contracts	9,004		9,004		—		9,004		—

	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		—

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, 2017		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans - collateral-dependent (3)	$	715	Fair Market Value of Collateral	Adjustment to Stated Value	N/A (2)
Impaired loans - other (4)	$	128	Discounted Cash Flow	Discount Rate	7.75%
OREO	$	625	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 a government agency guarantee.
(4) As there was only one impaired loan remeasured using discounted cash flows, a range of discounts could not be provided.

	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.