Fair Value (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of assets and liabilities measured at fair value on a recurring basis



Recurring Fair Value Measurements
December 31, 2016
(in thousands)	Total	(Level 1)	(Level 2)	(Level 3)
Available-for-sale securities
Obligations of U.S. Government sponsored entities	527,627	0	527,627	0
Obligations of U.S. states and political subdivisions	89,056	0	89,056	0
Mortgage-backed securities – residential, issued by:
U.S. Government agencies	158,226	0	158,226	0
U.S. Government sponsored entities	651,430	0	651,430	0
Non-U.S. Government agencies or sponsored entities	116	0	116	0
U.S. corporate debt securities	2,162	0	2,162	0
Equity securities	921	0	0	921

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2017 and December 31, 2016, segregated by the level of valuation inputs within the fair value hierarchy used to measure fair value.



Recurring Fair Value Measurements
March 31, 2017
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Available-for-sale securities
Obligations of U.S. Government sponsored entities	$	527,975	$	0	$	527,975	$	0
Obligations of U.S. states and political subdivisions	92,557		0		92,557		0
Mortgage-backed securities – residential, issued by:
U.S. Government agencies	154,133		0		154,133		0
U.S. Government sponsored entities	649,673		0		649,673		0
Non-U.S. Government agencies or sponsored entities	106		0		106		0
U.S. corporate debt securities	2,162		0		2,162		0
Equity securities	917		0		0		917

Schedule of assets and liabilities measured at fair value on a non recurring basis



March 31, 2017
			Fair value measurements at reporting date using:						Gain (losses) from fair value changes
Assets:	As of 03/31/2017		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Three months ended 03/31/2017
Impaired loans	$	2,671	$	0	$	2,671	$	0	$	(332	)
Other real estate owned	2,520		0		2,520		0		(70		)



March 31, 2016
			Fair value measurements at reporting date using:						Gain (losses) from fair value changes
Assets:	As of 03/31/2016		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Three months ended 03/31/2016
Impaired loans	$	1,987	$	0	$	1,987	$	0	$	9
Other real estate owned	432		0		432		0		11

Schedule of carrying amount and fair value of financial instruments



Estimated Fair Value of Financial Instruments
March 31, 2017
(in thousands)	Carrying Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash and cash equivalents	$	78,472	$	78,472	$	78,472	$	0	$	0
Securities - held to maturity	141,545		142,445		0		142,445		0
FHLB and other stock	35,013		35,013		0		35,013		0
Accrued interest receivable	18,815		18,815		0		18,815		0
Loans/leases, net¹	4,261,627		4,218,103		0		2,671		4,215,432

Financial Liabilities:

Time deposits	$	875,596	$	871,748	$	0	$	871,748	$	0
Other deposits	3,974,989		3,974,989		0		3,974,989		0
Fed funds purchased and securities sold
under agreements to repurchase	70,716		70,716		0		70,716		0
Other borrowings	717,285		716,914		0		716,914		0
Trust preferred debentures	16,562		22,171		0		22,171		0
Accrued interest payable	1,756		1,756		0		1,756		0



Estimated Fair Value of Financial Instruments
December 31, 2016
(in thousands)	Carrying Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash and cash equivalents	$	63,954	$	63,954	$	63,954	$	0	$	0
Securities - held to maturity	142,119		142,832		0		142,832		0
FHLB and other stock	43,133		43,133		0		43,133		0
Accrued interest receivable	17,390		17,390		0		17,390		0
Loans/leases, net¹	4,222,278		4,187,415		0		7,296		4,180,119

Financial Liabilities:

Time deposits	$	870,788	$	867,921	$	0	$	867,921	$	0
Other deposits	3,754,351		3,754,351		0		3,754,351		0
Fed funds purchased and securities
sold under agreements to repurchase	69,062		69,109		0		69,109		0
Other borrowings	884,815		884,842		0		884,842		0
Trust preferred debentures	37,681		43,321		0		43,321		0
Accrued interest payable	1,902		1,902		0		1,902		0

1 Lease receivables, although excluded from the scope of ASC Topic 825, are included in the estimated fair value amounts at their carrying value.