| Fair Value Disclosures [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Fair Value Disclosures [Abstract] | |
Estimated Fair Values of Financial Instruments |
The estimated fair values of the Company’s financial instruments are as follows:
|
|
|
|
|
|
|
Fair Value |
|
|
December 31, 2016 |
|
Carrying amount |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Financial assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
136,327 |
|
|
$ |
136,327 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
136,327 |
|
|
Available-for-sale securities |
|
|
582,183 |
|
|
|
— |
|
|
|
577,634 |
|
|
|
4,549 |
|
|
|
582,183 |
|
|
Federal Home Loan Bank Stock |
|
|
7,743 |
|
|
|
— |
|
|
|
— |
|
|
|
7,743 |
|
|
|
7,743 |
|
|
Loans, net |
|
|
1,827,037 |
|
|
|
— |
|
|
|
1,822,054 |
|
|
|
1,281 |
|
|
|
1,823,335 |
|
|
Loans held for sale |
|
|
507,442 |
|
|
|
— |
|
|
|
507,442 |
|
|
|
— |
|
|
|
507,442 |
|
|
Interest receivable |
|
|
7,241 |
|
|
|
— |
|
|
|
7,241 |
|
|
|
— |
|
|
|
7,241 |
|
|
Mortgage servicing rights, net |
|
|
32,070 |
|
|
|
— |
|
|
|
— |
|
|
|
32,070 |
|
|
|
32,070 |
|
|
Derivatives |
|
|
19,745 |
|
|
|
— |
|
|
|
19,745 |
|
|
|
— |
|
|
|
19,745 |
|
|
Financial liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Without stated maturities |
|
$ |
2,280,531 |
|
|
$ |
2,280,531 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,280,531 |
|
|
With stated maturities |
|
|
391,031 |
|
|
|
— |
|
|
|
390,484 |
|
|
|
— |
|
|
|
390,484 |
|
|
Securities sold under agreement to
repurchase |
|
|
21,561 |
|
|
|
21,561 |
|
|
|
— |
|
|
|
— |
|
|
|
21,561 |
|
|
Short term borrowings |
|
|
150,000 |
|
|
|
150,000 |
|
|
|
— |
|
|
|
— |
|
|
|
150,000 |
|
|
Interest payable |
|
|
620 |
|
|
|
237 |
|
|
|
383 |
|
|
|
— |
|
|
|
620 |
|
|
Long-term debt |
|
|
44,892 |
|
|
|
— |
|
|
|
43,994 |
|
|
|
— |
|
|
|
43,994 |
|
|
Derivatives |
|
|
586 |
|
|
|
— |
|
|
|
586 |
|
|
|
— |
|
|
|
586 |
|
|
|
|
|
|
|
|
Fair Value |
|
|
December 31, 2015 |
|
Carrying amount |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Financial assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
97,723 |
|
|
$ |
97,723 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
97,723 |
|
|
Available-for-sale securities |
|
|
649,387 |
|
|
|
— |
|
|
|
644,531 |
|
|
|
4,856 |
|
|
|
649,387 |
|
|
Federal Home Loan Bank Stock |
|
|
6,528 |
|
|
|
— |
|
|
|
— |
|
|
|
6,528 |
|
|
|
6,528 |
|
|
Loans, net |
|
|
1,677,403 |
|
|
|
— |
|
|
|
1,638,506 |
|
|
|
36,951 |
|
|
|
1,675,457 |
|
|
Loans held for sale |
|
|
273,196 |
|
|
|
— |
|
|
|
273,196 |
|
|
|
— |
|
|
|
273,196 |
|
|
Interest receivable |
|
|
6,763 |
|
|
|
— |
|
|
|
6,763 |
|
|
|
— |
|
|
|
6,763 |
|
|
Mortgage servicing rights, net |
|
|
29,711 |
|
|
|
— |
|
|
|
— |
|
|
|
29,711 |
|
|
|
29,711 |
|
|
Derivatives |
|
|
6,023 |
|
|
|
— |
|
|
|
6,023 |
|
|
|
— |
|
|
|
6,023 |
|
|
Financial liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Without stated maturities |
|
$ |
2,112,915 |
|
|
$ |
2,112,915 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,112,915 |
|
|
With stated maturities |
|
|
325,559 |
|
|
|
— |
|
|
|
323,624 |
|
|
|
— |
|
|
|
323,624 |
|
|
Securities sold under agreement to
repurchase |
|
|
105,133 |
|
|
|
105,133 |
|
|
|
— |
|
|
|
— |
|
|
|
105,133 |
|
|
Short term borrowings |
|
|
18,000 |
|
|
|
18,000 |
|
|
|
— |
|
|
|
— |
|
|
|
18,000 |
|
|
Interest payable |
|
|
550 |
|
|
|
244 |
|
|
|
306 |
|
|
|
— |
|
|
|
550 |
|
|
Long-term debt |
|
|
56,616 |
|
|
|
— |
|
|
|
55,484 |
|
|
|
— |
|
|
|
55,484 |
|
|
Derivatives |
|
|
369 |
|
|
|
— |
|
|
|
369 |
|
|
|
— |
|
|
|
369 |
|
|
Balances and Levels of Assets Measured at Fair Value on Recurring Basis |
The balances and levels of the assets measured at fair value on a recurring basis at December 31, 2016 are presented in the following tables:
|
At December 31, 2016 |
|
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1) |
|
|
Significant
other
observable
inputs
(level 2) |
|
|
Significant unobservable
inputs
(level 3) |
|
|
Total |
|
|
Recurring valuations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-sale securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government agency securities |
|
$ |
— |
|
|
$ |
985 |
|
|
$ |
— |
|
|
$ |
985 |
|
|
Mortgage-backed securities |
|
|
— |
|
|
|
443,908 |
|
|
|
— |
|
|
|
443,908 |
|
|
Municipals, tax-exempt |
|
|
— |
|
|
|
116,923 |
|
|
|
— |
|
|
|
116,923 |
|
|
Treasury securities |
|
|
— |
|
|
|
11,757 |
|
|
|
— |
|
|
|
11,757 |
|
|
Equity securities |
|
|
— |
|
|
|
4,061 |
|
|
|
4,549 |
|
|
|
8,610 |
|
|
Total |
|
$ |
— |
|
|
$ |
577,634 |
|
|
$ |
4,549 |
|
|
$ |
582,183 |
|
|
Loans held for sale |
|
|
— |
|
|
|
507,442 |
|
|
|
— |
|
|
|
507,442 |
|
|
Derivatives |
|
|
— |
|
|
|
19,745 |
|
|
|
— |
|
|
|
19,745 |
|
|
Financial Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives |
|
$ |
— |
|
|
$ |
586 |
|
|
$ |
— |
|
|
$ |
586 |
|
The balances and levels of the assets measured at fair value on a recurring basis at December 31, 2015 are presented in the following tables:
|
At December 31, 2015 |
|
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1) |
|
|
Significant
other
observable
inputs
(level 2) |
|
|
Significant unobservable
inputs
(level 3) |
|
|
Total |
|
|
Recurring valuations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-sale securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government agency securities |
|
$ |
— |
|
|
$ |
33,808 |
|
|
$ |
— |
|
|
$ |
33,808 |
|
|
Mortgage-backed securities |
|
|
— |
|
|
|
522,373 |
|
|
|
— |
|
|
|
522,373 |
|
|
Municipals, tax-exempt |
|
|
— |
|
|
|
79,837 |
|
|
|
— |
|
|
|
79,837 |
|
|
Treasury securities |
|
|
— |
|
|
|
4,485 |
|
|
|
— |
|
|
|
4,485 |
|
|
Equity securities |
|
|
— |
|
|
|
4,028 |
|
|
|
4,856 |
|
|
|
8,884 |
|
|
Total |
|
$ |
— |
|
|
$ |
644,531 |
|
|
$ |
4,856 |
|
|
$ |
649,387 |
|
|
Loans held for sale |
|
|
— |
|
|
|
273,196 |
|
|
|
— |
|
|
|
273,196 |
|
|
Derivatives |
|
|
— |
|
|
|
6,023 |
|
|
|
— |
|
|
|
6,023 |
|
|
Financial Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives |
|
$ |
— |
|
|
$ |
369 |
|
|
$ |
— |
|
|
$ |
369 |
|
|
Balances and Levels of Assets Measured at Fair Value on Non-recurring Basis |
The balances and levels of the assets measured at fair value on a non-recurring basis at December 31, 2016 are presented in the following tables:
|
At December 31, 2016 |
|
Quoted prices
in active
markets for
identical assets (liabilities) (level 1) |
|
|
Significant
other
observable
inputs
(level 2) |
|
|
Significant unobservable
inputs
(level 3) |
|
|
Total |
|
|
Non-recurring valuations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreclosed assets |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,315 |
|
|
$ |
2,315 |
|
|
Mortgage servicing rights |
|
|
— |
|
|
|
— |
|
|
|
32,070 |
|
|
|
32,070 |
|
|
Impaired loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
— |
|
|
|
— |
|
|
|
542 |
|
|
|
542 |
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owner occupied |
|
|
— |
|
|
|
— |
|
|
|
635 |
|
|
|
635 |
|
|
Non-owner occupied |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Residential real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family mortgage |
|
|
— |
|
|
|
— |
|
|
|
103 |
|
|
|
103 |
|
|
Residential line of credit |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Consumer and other |
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
1 |
|
|
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,281 |
|
|
$ |
1,281 |
|
The balances and levels of the assets measured at fair value on a non-recurring basis at December 31, 2015 are presented in the following tables:
|
At December 31, 2015 |
|
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1) |
|
|
Significant
other observable inputs
(level 2) |
|
|
Significant unobservable
inputs
(level 3) |
|
|
Total |
|
|
Non-recurring valuations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreclosed assets |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,275 |
|
|
$ |
6,275 |
|
|
Mortgage servicing rights |
|
|
— |
|
|
|
— |
|
|
|
29,711 |
|
|
|
29,711 |
|
|
Impaired Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
— |
|
|
|
— |
|
|
|
2,007 |
|
|
|
2,007 |
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owner occupied |
|
|
— |
|
|
|
— |
|
|
|
6,493 |
|
|
|
6,493 |
|
|
Non-owner occupied |
|
|
— |
|
|
|
— |
|
|
|
7,572 |
|
|
|
7,572 |
|
|
Construction |
|
|
— |
|
|
|
— |
|
|
|
6,896 |
|
|
|
6,896 |
|
|
Residential real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family mortgage |
|
|
— |
|
|
|
— |
|
|
|
6,127 |
|
|
|
6,127 |
|
|
Multifamily |
|
|
— |
|
|
|
— |
|
|
|
36 |
|
|
|
36 |
|
|
Consumer and other |
|
|
— |
|
|
|
— |
|
|
|
4 |
|
|
|
4 |
|
|
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
29,135 |
|
|
$ |
29,135 |
|
|
Reconciliation for Assets and Liabilities Measured at Fair Value on Recurring Basis using Significant Unobservable Inputs or Level 3 Inputs |
The following table provides a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs, or Level 3 inputs, during the year ended December 31, 2016 and 2015:
|
|
|
Available-for-sale
securities
December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
Balance at beginning of period |
|
$ |
4,856 |
|
|
$ |
4,688 |
|
|
Realized gains included in net income |
|
|
— |
|
|
|
— |
|
|
Unrealized gains included in other comprehensive income |
|
|
— |
|
|
|
— |
|
|
Purchases |
|
|
20 |
|
|
|
168 |
|
|
Capital distribution |
|
|
(327 |
) |
|
|
— |
|
|
Balance at end of period |
|
$ |
4,549 |
|
|
$ |
4,856 |
|
|
Information About Significant Unobservable Inputs (Level 3) Used in Valuation of Assets Measured at Fair Value on Nonrecurring Basis |
The following table presents information as of December 31, 2016 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
|
Financial instrument |
|
Fair Value |
|
|
Valuation technique |
|
Significant Unobservable inputs |
|
Range of
inputs |
|
Impaired loans |
|
$ |
1,281 |
|
|
Appraised value of collateral |
|
Discount for comparable sales |
|
0%-30% |
|
Foreclosed assets |
|
$ |
2,315 |
|
|
Appraised value of property less costs to sell |
|
Discount for costs to sell |
|
0%-10% |
|
Mortgage servicing rights, net |
|
$ |
32,070 |
|
|
Discounted cash flows |
|
See Note 9 |
|
See Note 9 |
The following table presents information as of December 31, 2015 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
|
Financial instrument |
|
Fair Value |
|
|
Valuation technique |
|
Significant Unobservable inputs |
|
Range of
inputs |
|
Impaired loans |
|
$ |
29,135 |
|
|
Appraised value of collateral |
|
Discount for comparable sales |
|
0%-30% |
|
Foreclosed assets |
|
$ |
6,275 |
|
|
Appraised value of property less costs to sell |
|
Discount for costs to sell |
|
0%-46% |
|
Mortgage servicing rights, net |
|
$ |
29,711 |
|
|
Discounted cash flows |
|
See Note 9 |
|
See Note 9 |
|
Differences between Fair Value and Principal Balance for Loans Held for Sale Measured at Fair Value |
The following table summarizes the differences between the fair value and the principal balance for loans held for sale measured at fair value as of December 31, 2016 and 2015:
|
December 31, 2016 |
|
Aggregate
fair value |
|
|
Aggregate
Unpaid
Principal
Balance |
|
|
Difference |
|
|
Mortgage loans held for sale measured at fair value |
|
$ |
507,442 |
|
|
$ |
501,503 |
|
|
$ |
5,939 |
|
|
Past due loans of 90 days or more |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Nonaccrual loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage loans held for sale measured at fair value |
|
$ |
273,196 |
|
|
$ |
264,968 |
|
|
$ |
8,228 |
|
|
Past due loans of 90 days or more |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Nonaccrual loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|