Fair Values of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 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:



	September 30, 2016
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	30,036	$	—	$	30,036	$	—
U.S. Government agencies	93,683		—		93,683		—
Municipal	109,281		—		42,073		67,208
Corporate notes	65,203		—		65,203		—
Mortgage-backed	1,301,111		—		1,301,111		—
Equity securities	50,782		—		50,782		—
Trading account securities	1,092		—		1,092		—
Mortgage loans held-for-sale	559,634		—		559,634		—
MSRs	13,901		—		—		13,901
Nonqualified deferred compensation assets	9,218		—		9,218		—
Derivative assets	88,828		—		88,828		—
Total	$	2,322,769	$	—	$	2,241,660	$	81,109
Derivative liabilities	$	87,948	$	—	$	87,948	$	—



	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		—
MSRs	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	$	—



	September 30, 2015
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	285,922	$	—	$	285,922	$	—
U.S. Government agencies	645,023		—		645,023		—
Municipal	297,342		—		228,941		68,401
Corporate notes	116,945		—		116,945		—
Mortgage-backed	815,045		—		815,045		—
Equity securities	54,004		—		29,488		24,516
Trading account securities	3,312		—		3,312		—
Mortgage loans held-for-sale	347,005		—		347,005		—
MSRs	7,875		—		—		7,875
Nonqualified deferred compensation assets	8,342		—		8,342		—
Derivative assets	69,034		—		69,034		—
Total	$	2,649,849	$	—	$	2,549,057	$	100,792
Derivative liabilities	$	65,198	$	—	$	65,198	$	—

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 and nine months ended September 30, 2016 and 2015 are summarized as follows:



				Equity securities			Mortgage servicing rights
(Dollars in thousands)	Municipal			Equity securities			Mortgage servicing rights
Balance at July 1, 2016	$	69,812		$	25,187		$	13,382
Total net gains (losses) included in:
Net income ⁽¹⁾	—			—			519
Other comprehensive loss	(241		)	—			—
Purchases	2,184			—			—
Issuances	—			—			—
Sales	—			(25,187		)	—
Settlements	(4,547		)	—			—
Net transfers into/(out of) Level 3	—			—			—
Balance at September 30, 2016	$	67,208		$	—		$	13,901



				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⁾	—			—			4,809
Other comprehensive loss	(141		)	(12		)	—
Purchases	6,458			—			—
Issuances	—			—			—
Sales	—			(25,187		)	—
Settlements	(7,722		)	—			—
Net transfers into/(out of) Level 3	—			—			—
Balance at September 30, 2016	$	67,208		$	—		$	13,901



				Equity securities			Mortgage servicing rights
(Dollars in thousands)	Municipal			Equity securities			Mortgage servicing rights
Balance at July 1, 2015	$	58,572		$	24,996		$	8,034
Total net (losses) gains included in:
Net income ⁽¹⁾	—			—			(159		)
Other comprehensive income (loss)	223			(480		)	—
Purchases	10,405			—			—
Issuances	—			—			—
Sales	—			—			—
Settlements	(799		)	—			—
Net transfers into/(out of) Level 3	—			—			—
Balance at September 30, 2015	$	68,401		$	24,516		$	7,875


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



				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 (losses) gains included in:
Net income ⁽¹⁾	—			—		(560		)
Other comprehensive (loss) income	(287		)	805		—
Purchases	21,254			—		—
Issuances	—			—		—
Sales	—			—		—
Settlements	(11,519		)	—		—
Net transfers into/(out of) Level 3	—			—		—
Balance at September 30, 2015	$	68,401		$	24,516	$	7,875


(1)	Changes in the balance of MSRs 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 September 30, 2016.



	September 30, 2016								Three Months Ended September 30, 2016 Fair Value Losses Recognized, net		Nine Months Ended September 30, 2016 Fair Value Losses Recognized, net
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Impaired loans—collateral based	$	64,614	$	—	$	—	$	64,614	$	4,635	$	10,865
Other real estate owned, including covered other real estate owned ⁽¹⁾	45,449		—		—		45,449		1,237		4,617
Total	$	110,063	$	—	$	—	$	110,063	$	5,872	$	15,482


(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 September 30, 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

67,208

Bond pricing

Equivalent rating

BBB-AA+

N/A

Increase

MSRs

13,901

Discounted cash flows

Discount rate

3%-7%

5.52%

Decrease

Constant prepayment rate (CPR)

2%-85%

14.73%

Decrease

Measured at fair value on a non-recurring basis:

Impaired loans—collateral based

64,614

Appraisal value

Appraisal adjustment - cost of sale

10%

10.00%

Decrease

Other real estate owned, including covered other real estate owned

45,449

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 September 30, 2016				At December 31, 2015				At September 30, 2015
	Carrying		Fair		Carrying		Fair		Carrying		Fair
(Dollars in thousands)	Value		Value		Value		Value		Value		Value
Financial Assets:
Cash and cash equivalents	$	246,947	$	246,947	$	275,795	$	275,795	$	250,655	$	250,655
Interest bearing deposits with banks	816,104		816,104		607,782		607,782		701,106		701,106
Available-for-sale securities	1,650,096		1,650,096		1,716,388		1,716,388		2,214,281		2,214,281
Held-to-maturity securities	932,767		942,666		884,826		878,111		—		—
Trading account securities	1,092		1,092		448		448		3,312		3,312
FHLB and FRB stock, at cost	129,630		129,630		101,581		101,581		90,308		90,308
Brokerage customer receivables	25,511		25,511		27,631		27,631		28,293		28,293
Mortgage loans held-for-sale, at fair value	559,634		559,634		388,038		388,038		347,005		347,005
Total loans	19,197,201		20,251,518		17,266,790		18,106,829		16,484,820		17,284,375
MSRs	13,901		13,901		9,092		9,092		7,875		7,875
Nonqualified deferred compensation assets	9,218		9,218		8,517		8,517		8,342		8,342
Derivative assets	88,828		88,828		51,298		51,298		69,034		69,034
Accrued interest receivable and other	205,725		205,725		193,092		193,092		192,572		192,572
Total financial assets	$	23,876,654	$	24,940,870	$	21,531,278	$	22,364,602	$	20,397,603	$	21,197,158
Financial Liabilities
Non-maturity deposits	$	16,946,178	$	16,946,178	$	14,634,957	$	14,634,957	$	14,092,697	$	14,092,697
Deposits with stated maturities	4,201,477		4,200,278		4,004,677		3,998,180		4,135,772		4,137,856
FHLB advances	419,632		427,103		853,431		863,437		451,330		459,154
Other borrowings	241,366		241,366		265,785		265,785		259,978		259,978
Subordinated notes	138,943		138,715		138,861		140,302		138,834		142,953
Junior subordinated debentures	253,566		254,108		268,566		268,046		268,566		268,058
Derivative liabilities	87,948		87,948		45,019		45,019		65,198		65,198
FDIC indemnification liability	17,945		17,945		6,100		6,100		3,033		3,033
Accrued interest payable	8,007		8,007		7,394		7,394		11,364		11,364
Total financial liabilities	$	22,315,062	$	22,321,648	$	20,224,790	$	20,229,220	$	19,426,772	$	19,440,291