Fair Value Accounting and Measurement (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31, 2018 and December 31, 2017 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
March 31, 2018	(in thousands)
Assets
Debt securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,645,218	$	—	$	1,645,218	$	—
State and municipal debt securities	582,748		—		582,748		—
U.S. government agency and government-sponsored enterprise securities	395,832		—		395,832		—
U.S. government securities	247		247		—		—
Total debt securities available for sale	$	2,624,045	$	247	$	2,623,798	$	—
Equity securities	$	5,000	$	5,000	$	—	$	—
Other assets (Interest rate contracts)	$	7,406	$	—	$	7,406	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	7,409	$	—	$	7,409	$	—

	Fair value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
December 31, 2017	(in thousands)
Assets
Debt securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,726,725	$	—	$	1,726,725	$	—
State and municipal debt securities	596,004		—		596,004		—
U.S. government agency and government-sponsored enterprise securities	414,774		—		414,774		—
U.S. government securities	248		248		—		—
Total debt securities available for sale	$	2,737,751	$	248	$	2,737,503	$	—
Equity securities	$	5,080	$	5,080	$	—	$	—
Other assets (Interest rate contracts)	$	6,707	$	—	$	6,707	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	6,714	$	—	$	6,714	$	—

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 March 31, 2018		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended March 31, 2018
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	7,820	$	—	$	—	$	7,820	$	5,058
OREO	160		—		—		160		51
	$	7,980	$	—	$	—	$	7,980	$	5,109

	Fair value at March 31, 2017		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended March 31, 2017
			Level 1		Level 2		Level 3
	(in thousands)
OREO	$	1,260	$	—	$	—	$	1,260	$	193
	$	1,260	$	—	$	—	$	1,260	$	193

Fair Value, by Balance Sheet Grouping

The following tables summarize carrying amounts and estimated fair values of selected financial instruments by level within the fair value hierarchy at March 31, 2018 and December 31, 2017:

	March 31, 2018
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	206,532	$	206,532	$	206,532	$	—	$	—
Interest-earning deposits with banks	87,124		87,124		87,124		—		—
Debt securities available for sale	2,624,045		2,624,045		247		2,623,798		—
Equity securities	5,000		5,000		5,000		—		—
FHLB stock	11,640		11,640		—		11,640		—
Loans held for sale	4,312		4,312		—		4,312		—
Loans	8,259,804		8,281,010		—		—		8,281,010
Interest rate contracts	7,406		7,406		—		7,406		—
Liabilities
Deposits	$	474,000	$	465,896	$	—	$	465,896	$	—
FHLB advances	41,564		42,090		—		42,090		—
Repurchase agreements	24,247		24,247		—		24,247		—
Subordinated debentures	35,601		35,486		—		35,486		—
Interest rate contracts	7,409		7,409		—		7,409		—

	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		—		—
Debt securities available for sale	2,737,751		2,737,751		248		2,737,503		—
Equity securities	5,080		5,080		5,080		—		—
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		—

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 March 31, 2018		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans - collateral-dependent (3)	$	7,512	Fair Market Value of Collateral	Adjustment to Stated Value	0.00% - 100.00% (41.33%)
Impaired loans - other (4)	$	308	Discounted Cash Flow	Discount Rate	6.00%
OREO	$	160	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
(1) Discount rate applied to discounted cash flow valuation or appraisal value and stated value (in the case of accounts receivable, fixed assets, and inventory).
(2) Quantitative disclosures are not provided for OREO because there were no adjustments made to the appraisal values during the current period.
(3) Collateral consists of accounts receivable, fixed assets, inventory, and real estate.
(4) As there was only one impaired loan remeasured using discounted cash flows, a range of discounts could not be provided.

	Fair value at March 31, 2017		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
OREO	$	1,260	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
(1) Discount applied to appraisal value.
(2) Quantitative disclosures are not provided for OREO because there were no adjustments made to the appraisal values.