| Financial Assets And Liabilities Carried At Fair Value On Recurring Basis |
The following table presents the Company’s financial assets and financial liabilities carried at fair value on a recurring basis as of March 31, 2016 and December 31, 2015:
| | | Fair Value Measurements at March 31, 2016 Using | | | | | | | Quoted Prices in | | | | | | | | | | | Active Markets | | Significant Other | | Significant | | | | | | | for Identical | | Observable Inputs | | Unobservable | | | | | | | Assets (Level 1) | | (Level 2) | | Inputs (Level 3) | | Total | | | | | (In Thousands) | | | Assets Measured on a Recurring Basis: | | | | | Available for sale debt securities: | | | | | | | | | | | | | | | U.S. Treasury and government sponsored agencies | | $ | - | | $ | 43,588 | | $ | - | | $ | 43,588 | | | Mortgage-backed securities | | | - | | | 132,328 | | | - | | | 132,328 | | | State and municipal securities | | | - | | | 143,688 | | | - | | | 143,688 | | | Corporate debt | | | - | | | 14,963 | | | - | | | 14,963 | | | Total assets at fair value | | $ | - | | $ | 334,567 | | $ | - | | $ | 334,567 | |
| | | Fair Value Measurements at December 31, 2015 Using | | | | | | | Quoted Prices in | | | | | | | | | | | Active Markets | | Significant Other | | Significant | | | | | | | for Identical | | Observable Inputs | | Unobservable | | | | | | | Assets (Level 1) | | (Level 2) | | Inputs (Level 3) | | Total | | | | | (In Thousands) | | | Assets Measured on a Recurring Basis: | | | | | Available for sale debt securities: | | | | | | | | | | | | | | | U.S. Treasury and government sponsored agencies | | $ | - | | $ | 45,009 | | $ | - | | $ | 45,009 | | | Mortgage-backed securities | | | - | | | 136,954 | | | - | | | 136,954 | | | State and municipal securities | | | - | | | 146,033 | | | - | | | 146,033 | | | Corporate debt | | | - | | | 14,942 | | | - | | | 14,942 | | | Total assets at fair value | | $ | - | | $ | 342,938 | | $ | - | | $ | 342,938 | |
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| Financial Assets And Liabilities Carried At Fair Value On Nonrecurring Basis |
The following table presents the Company’s financial assets and financial liabilities carried at fair value on a nonrecurring basis as of March 31, 2016 and December 31, 2015:
| | | Fair Value Measurements at March 31, 2016 Using | | | | | | | Quoted Prices in | | | | | | | | | | | Active Markets | | Significant Other | | Significant | | | | | | | for Identical | | Observable | | Unobservable | | | | | | | Assets (Level 1) | | Inputs (Level 2) | | Inputs (Level 3) | | Total | | | | | (In Thousands) | | | Assets Measured on a Nonrecurring Basis: | | | | | Impaired loans | | $ | - | | $ | - | | $ | 44,442 | | $ | 44,442 | | | Other real estate owned and repossessed assets | | | - | | | - | | | 4,044 | | | 4,044 | | | Total assets at fair value | | $ | - | | $ | - | | $ | 48,486 | | $ | 48,486 | |
| | | Fair Value Measurements at December 31, 2015 Using | | | | | | | Quoted Prices in | | | | | | | | | | | Active Markets | | Significant Other | | Significant | | | | | | | for Identical | | Observable | | Unobservable | | | | | | | Assets (Level 1) | | Inputs (Level 2) | | Inputs (Level 3) | | Total | | | Assets Measured on a Nonrecurring Basis: | | (In Thousands) | | | Impaired loans | | $ | - | | $ | - | | $ | 27,808 | | $ | 27,808 | | | Other real estate owned | | | - | | | - | | | 5,392 | | | 5,392 | | | Total assets at fair value | | $ | - | | $ | - | | $ | 33,200 | | $ | 33,200 | |
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| Carrying Amount And Estimated Fair Value Of Financial Instruments |
This table includes those financial assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis.
| | | March 31, 2016 | | December 31, 2015 | | | | | Carrying | | | | Carrying | | | | | | | Amount | | Fair Value | | Amount | | Fair Value | | | | | (In Thousands) | | | Financial Assets: | | | | | | | | | | | | | | | Level 1 inputs: | | | | | | | | | | | | | | | Cash and due from banks | | $ | 497,227 | | $ | 497,227 | | $ | 317,450 | | $ | 317,450 | | | | | | | | | | | | | | | | | | Level 2 inputs: | | | | | | | | | | | | | | | Available for sale debt securities | | $ | 334,567 | | $ | 334,567 | | $ | 342,938 | | $ | 342,938 | | | Held to maturity debt securities | | | 27,539 | | | 28,409 | | | 27,426 | | | 27,910 | | | Equity securities | | | 5,667 | | | 5,667 | | | 4,954 | | | 4,954 | | | Federal funds sold | | | 28,410 | | | 28,410 | | | 34,785 | | | 34,785 | | | Mortgage loans held for sale | | | 5,090 | | | 5,139 | | | 8,249 | | | 8,295 | | | Bank owned life insurance contracts | | | 92,218 | | | 92,218 | | | 91,594 | | | 91,594 | | | | | | | | | | | | | | | | | | Level 3 Inputs: | | | | | | | | | | | | | | | Loans, net | | $ | 4,295,755 | | $ | 4,326,975 | | $ | 4,172,956 | | $ | 4,179,835 | | | | | | | | | | | | | | | | | | Financial Liabilities: | | | | | | | | | | | | | | | Level 2 inputs: | | | | | | | | | | | | | | | Deposits | | $ | 4,339,747 | | $ | 4,341,021 | | $ | 4,223,888 | | $ | 4,223,181 | | | Federal funds purchased | | | 497,885 | | | 497,885 | | | 352,360 | | | 352,360 | | | Other borrowings | | | 55,543 | | | 54,307 | | | 55,637 | | | 52,521 | |
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