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Fair Value Accounting and Measurement (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2017 and 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  at
December 31, 2017
 
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
 
$
1,726,725

 
$

 
$
1,726,725

 
$

State and municipal securities
 
596,004

 

 
596,004

 

U.S. government agency and government-sponsored enterprise securities
 
414,774

 

 
414,774

 

U.S. government securities
 
248

 
248

 

 

Other securities
 
5,080

 
5,080

 

 

Total securities available for sale
 
$
2,742,831

 
$
5,328

 
$
2,737,503

 
$

Other assets (Interest rate contracts)
 
$
6,707

 
$

 
$
6,707

 
$

Liabilities
 
 
 
 
 
 
 
 
Other liabilities (Interest rate contracts)
 
$
6,714

 
$

 
$
6,714

 
$

 
 
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 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 table sets forth the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the years ended December 31, 2017 and 2016:
 
 
Fair value  at
December 31, 2017
 
Fair Value Measurements at Reporting Date Using
 
Losses During the Year Ended
December 31, 2017
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
(in thousands)
Impaired loans
 
$
6,577

 
$

 
$

 
$
6,577

 
$
2,507

OREO
 
1,423

 

 

 
1,423

 
239

 
 
$
8,000

 
$

 
$

 
$
8,000

 
$
2,746

 
 
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 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 2017 and 2016, along with the valuation techniques used, are shown in the following tables:
 
 
Fair value  at
December 31, 2017
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average) (1)
 
 
(dollars in thousands)
Impaired loans - collateral-dependent (3)
 
$
3,519

 
Fair Market Value of Collateral
 
Adjustment to Stated Value
 
N/A (2)
Impaired loans - other
 
$
3,058

 
Discounted Cash Flow
 
Discount Rate
 
3.75% - 7.75% (4.12%)
OREO
 
$
1,423

 
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 real property and a government agency guarantee.

 
 
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, by Balance Sheet Grouping
The following tables summarize carrying amounts and estimated fair values of selected financial instruments for the periods indicated:
 
 
December 31,
2017
 
 
Carrying
Amount
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
244,615

 
$
244,615

 
$
244,615

 
$

 
$

Interest-earning deposits with banks
 
97,918

 
97,918

 
97,918

 

 

Securities available for sale
 
2,742,831

 
2,742,831

 
5,328

 
2,737,503

 

FHLB stock
 
10,440

 
10,440

 

 
10,440

 

Loans held for sale
 
5,766

 
5,766

 

 
5,766

 

Loans
 
8,283,011

 
8,055,817

 

 

 
8,055,817

Interest rate contracts
 
6,707

 
6,707

 

 
6,707

 

Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
 
$
10,532,085

 
$
10,524,135

 
$
10,041,040

 
$
483,095

 
$

FHLB advances
 
11,579

 
12,281

 

 
12,281

 

Repurchase agreements
 
79,059

 
79,070

 

 
79,070

 

Subordinated debentures
 
35,647

 
35,895

 

 
35,895

 

Junior subordinated debentures
 
8,248

 
8,248

 

 
8,248

 

Interest rate contracts
 
6,714

 
6,714

 

 
6,714

 


 
 
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