Fair Values of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2016

Summary Of Balances Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following tables present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented:



	March 31, 2016
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	117,089	$	—	$	117,089	$	—
U.S. Government agencies	94,172		—		94,172		—
Municipal	121,195		—		50,953		70,242
Corporate notes	80,213		—		80,213		—
Mortgage-backed	302,695		—		302,695		—
Equity securities	55,619		—		31,565		24,054
Trading account securities	2,116		—		2,116		—
Mortgage loans held-for-sale	314,554		—		314,554		—
Mortgage servicing rights	10,128		—		—		10,128
Nonqualified deferred compensation assets	8,926		—		8,926		—
Derivative assets	86,337		—		86,337		—
Total	$	1,193,044	$	—	$	1,088,620	$	104,424
Derivative liabilities	$	81,712	$	—	$	81,712	$	—



	December 31, 2015
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	306,729	$	—	$	306,729	$	—
U.S. Government agencies	70,236		—		70,236		—
Municipal	108,595		—		39,982		68,613
Corporate notes	81,545		—		81,545		—
Mortgage-backed	1,092,597		—		1,092,597		—
Equity securities	56,686		—		31,487		25,199
Trading account securities	448		—		448		—
Mortgage loans held-for-sale	388,038		—		388,038		—
Mortgage servicing rights	9,092		—		—		9,092
Nonqualified deferred compensation assets	8,517		—		8,517		—
Derivative assets	51,298		—		51,298		—
Total	$	2,173,781	$	—	$	2,070,877	$	102,904
Derivative liabilities	$	45,019	$	—	$	45,019	$	—



	March 31, 2015
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	271,474	$	—	$	271,474	$	—
U.S. Government agencies	661,793		—		661,793		—
Municipal	269,912		—		213,863		56,049
Corporate notes	133,814		—		133,814		—
Mortgage-backed	329,591		—		329,591		—
Equity securities	54,446		—		29,790		24,656
Trading account securities	7,811		—		7,811		—
Mortgage loans held-for-sale	446,355		—		446,355		—
Mortgage servicing rights	7,852		—		—		7,852
Nonqualified deferred compensation assets	8,718		—		8,718		—
Derivative assets	62,984		—		62,984		—
Total	$	2,254,750	$	—	$	2,166,193	$	88,557
Derivative liabilities	$	55,225	$	—	$	55,225	$	—

Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis

The changes in Level 3 assets measured at fair value on a recurring basis during the three months ended March 31, 2016 and 2015 are summarized as follows:



				Equity securities			Mortgage servicing rights
(Dollars in thousands)	Municipal			Equity securities			Mortgage servicing rights
Balance at January 1, 2016	$	68,613		$	25,199		$	9,092
Total net gains (losses) included in:
Net income ⁽¹⁾	—			—			1,036
Other comprehensive income	(13		)	(1,145		)	—
Purchases	3,271			—			—
Issuances	—			—			—
Sales	—			—			—
Settlements	(1,629		)	—			—
Net transfers into/(out of) Level 3	—			—			—
Balance at March 31, 2016	$	70,242		$	24,054		$	10,128



				Equity securities		Mortgage servicing rights
(Dollars in thousands)	Municipal			Equity securities		Mortgage servicing rights
Balance at January 1, 2015	$	58,953		$	23,711	$	8,435
Total net gains (losses) included in:
Net income ⁽¹⁾	—			—		(583		)
Other comprehensive income	203			945		—
Purchases	6,674			—		—
Issuances	—			—		—
Sales	—			—		—
Settlements	(9,781		)	—		—
Net transfers into/(out of) Level 3	—			—		—
Balance at March 31, 2015	$	56,049		$	24,656	$	7,852


(1)	Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income.

Summary Of Assets Measured At Fair Value On A Nonrecurring Basis

For assets measured at fair value on a nonrecurring basis that were still held in the balance sheet at the end of the period, the following table provides the carrying value of the related individual assets or portfolios at March 31, 2016.



	March 31, 2016								Three Months Ended March 31, 2016 Fair Value Losses Recognized, net
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Impaired loans—collateral based	$	66,008	$	—	$	—	$	66,008	$	2,333
Other real estate owned, including covered other real estate owned ⁽¹⁾	58,978		—		—		58,978		1,087
Total	$	124,986	$	—	$	—	$	124,986	$	3,420


(1)	Fair value losses recognized, net on other real estate owned include valuation adjustments and charge-offs during the respective period.

Schedule Of Valuation Techniques And Significant Unobservable Inputs Used To Measure Both Recurring And Non-Recurring

The valuation techniques and significant unobservable inputs used to measure both recurring and non-recurring Level 3 fair value measurements at March 31, 2016 were as follows:

(Dollars in thousands)

Fair Value

Valuation Methodology

Significant Unobservable Input

Range

of Inputs

Weighted

Average

of Inputs

Impact to valuation

from an increased or

higher input value

Measured at fair value on a recurring basis:

Municipal Securities

70,242

Bond pricing

Equivalent rating

BBB-AA+

N/A

Increase

Equity Securities

24,054

Discounted cash flows

Discount rate

2.81%-3.13%

2.98%

Decrease

Mortgage Servicing Rights

10,128

Discounted cash flows

Discount rate

4%-7%

6.20%

Decrease

Constant prepayment rate (CPR)

1%-46%

11.39%

Decrease

Measured at fair value on a non-recurring basis:

Impaired loans—collateral based

66,008

Appraisal value

Appraisal adjustment - cost of sale

10%

10.00%

Decrease

Other real estate owned, including covered other real estate owned

58,978

Appraisal value

Appraisal adjustment - cost of sale

10%

10.00%

Decrease

Summary Of Carrying Amounts And Estimated Fair Values Of Financial Instruments

The table below presents the carrying amounts and estimated fair values of the Company’s financial instruments as of the dates shown:



	At March 31, 2016				At December 31, 2015				At March 31, 2015
	Carrying		Fair		Carrying		Fair		Carrying		Fair
(Dollars in thousands)	Value		Value		Value		Value		Value		Value
Financial Assets:
Cash and cash equivalents	$	212,300	$	212,300	$	275,795	$	275,795	$	290,872	$	290,872
Interest bearing deposits with banks	817,013		817,013		607,782		607,782		697,799		697,799
Available-for-sale securities	770,983		770,983		1,716,388		1,716,388		1,721,030		1,721,030
Held-to-maturity securities	911,715		924,344		884,826		878,111		—		—
Trading account securities	2,116		2,116		448		448		7,811		7,811
Federal Home Loan Bank and Federal Reserve Bank stock, at cost	113,222		113,222		101,581		101,581		92,948		92,948
Brokerage customer receivables	28,266		28,266		27,631		27,631		25,287		25,287
Mortgage loans held-for-sale, at fair value	314,554		314,554		388,038		388,038		446,355		446,355
Total loans	17,585,261		18,551,606		17,266,790		18,106,829		15,162,753		15,868,532
Mortgage servicing rights	10,128		10,128		9,092		9,092		7,852		7,852
Nonqualified deferred compensation assets	8,926		8,926		8,517		8,517		8,718		8,718
Derivative assets	86,337		86,337		51,298		51,298		62,984		62,984
FDIC indemnification asset	—		—		—		—		10,224		10,224
Accrued interest receivable and other	202,018		202,018		193,092		193,092		181,998		181,998
Total financial assets	$	21,062,839	$	22,041,813	$	21,531,278	$	22,364,602	$	18,716,631	$	19,422,410
Financial Liabilities
Non-maturity deposits	$	15,260,229	$	15,260,229	$	14,634,957	$	14,634,957	$	12,927,014	$	12,927,014
Deposits with stated maturities	3,956,842		3,956,157		4,004,677		3,998,180		4,011,755		4,017,565
Federal Home Loan Bank advances	799,482		807,265		853,431		863,437		406,839		422,305
Other borrowings	253,126		253,126		265,785		265,785		186,716		186,716
Subordinated notes	138,888		139,849		138,861		140,302		138,782		147,851
Junior subordinated debentures	253,566		254,290		268,566		268,046		249,493		250,196
Derivative liabilities	81,712		81,712		45,019		45,019		55,225		55,225
FDIC indemnification liability	10,029		10,029		6,100		6,100		—		—
Accrued interest payable	9,208		9,208		7,394		7,394		8,583		8,583
Total financial liabilities	$	20,763,082	$	20,771,865	$	20,224,790	$	20,229,220	$	17,984,407	$	18,015,455