Fair Value Accounting and Measurement (Tables)

6 Months Ended

Jun. 30, 2018

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

Fair Value Inputs, Assets, Quantitative Information

The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 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
June 30, 2018	(in thousands)
Assets
Debt securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,676,992	$	—	$	1,676,992	$	—
State and municipal debt securities	577,695		—		577,695		—
U.S. government agency and government-sponsored enterprise securities	391,274		—		391,274		—
U.S. government securities	247		247		—		—
Total debt securities available for sale	$	2,646,208	$	247	$	2,645,961	$	—
Equity securities	$	4,963	$	4,963	$	—	$	—
Other assets (Interest rate contracts)	$	8,624	$	—	$	8,624	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	8,624	$	—	$	8,624	$	—

	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 June 30, 2018		Fair Value Measurements at Reporting Date Using						Gains During the Three Months Ended June 30, 2018			Losses During the Six Months Ended June 30, 2018
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	10,792	$	—	$	—	$	10,792	$	(1,032	)	$	3,398
	$	10,792	$	—	$	—	$	10,792	$	(1,032	)	$	3,398

	Fair value at June 30, 2017		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended June 30, 2017		Losses During the Six Months Ended June 30, 2017
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	7,019	$	—	$	—	$	7,019	$	3,669	$	3,669
OREO	105		—		—		105		33		33
	$	7,124	$	—	$	—	$	7,124	$	3,702	$	3,702

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 June 30, 2018 and December 31, 2017:

	June 30, 2018
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	224,370	$	224,370	$	224,370	$	—	$	—
Interest-earning deposits with banks	39,169		39,169		39,169		—		—
Debt securities available for sale	2,646,208		2,646,208		247		2,645,961		—
Equity securities	4,963		4,963		4,963		—		—
FHLB stock	13,960		13,960		—		13,960		—
Loans held for sale	6,773		6,773		—		6,773		—
Loans	8,373,957		8,381,155		—		—		8,381,155
Interest rate contracts	8,624		8,624		—		8,624		—
Liabilities
Time deposits	$	450,602	$	442,561	$	—	$	442,561	$	—
FHLB advances	99,549		100,102		—		100,102		—
Repurchase agreements	46,229		46,229		—		46,229		—
Subordinated debentures	35,555		34,986		—		34,986		—
Interest rate contracts	8,624		8,624		—		8,624		—

	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 June 30, 2018		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans - collateral-dependent (2)	$	6,933	Fair Market Value of Collateral	Adjustment to Stated Value	0.00% - 62.81% (15.72%)
Impaired loans - other	$	3,859	Discounted Cash Flow	Discount Rate	4.25% - 6.50% (6.12%)
(1) Discount rate applied to discounted cash flow valuation or discount applied to appraisal value or stated value (in the case of accounts receivable, fixed assets, and inventory).
(2) Collateral consists of accounts receivable, fixed assets, inventory, and real estate.

	Fair value at June 30, 2017		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans - collateral-dependent (3)	$	7,019	Fair Market Value of Collateral	Adjustment to Stated Value	0.00% - 75.00% (60.59%)
OREO	$	105	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
(1) Discount applied to appraisal value or 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.
(3) Collateral consists of accounts receivable, fixed assets, inventory, and real estate.