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Fair Value Of Assets And Liabilities (Tables)

3 Months Ended

Mar. 31, 2012

Fair Values Of Assets And Liabilities [Abstract]

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


	March 31, 2012
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	23,189	$	—	$	23,189	$	—
U.S. Government agencies		682,780		—		682,780		—
Municipal		69,915		—		44,380		25,535
Corporate notes and other		168,816		—		168,816		—
Mortgage-backed		886,148		—		886,148		—
Equity securities		38,496		—		17,272		21,224
Trading account securities		1,140		—		1,140		—
Mortgage loans held-for-sale		339,600		—		339,600		—
Mortgage servicing rights		7,201		—		—		7,201
Nonqualified deferred compensations assets		5,315		—		5,315		—
Derivative assets		39,220		—		39,220		—

Total	$	2,261,820	$	—	$	2,207,860	$	53,960

Derivative liabilities	$	46,364	$	—	$	46,364	$	—


	March 31, 2011
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	96,160	$	—	$	96,160	$	—
U.S. Government agencies		795,854		—		795,854		—
Municipal		48,406		—		32,812		15,594
Corporate notes and other		235,573		—		225,860		9,713
Mortgage-backed		493,943		—		491,220		2,723
Equity securities		40,385		—		11,640		28,745
Trading account securities		2,229		—		1,589		640
Mortgage loans held-for-sale		92,151		—		92,151		—
Mortgage servicing rights		9,448		—		—		9,448
Nonqualified deferred compensations assets		3,845		—		3,845		—
Derivative assets		14,905		—		14,905		—

Total	$	1,832,899	$	—	$	1,766,036	$	66,863

Derivative liabilities	$	26,077	$	—	$	26,077	$	—

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


(Dollars in thousands)	Municipal			Equity securities		Mortgage servicing rights
Balance at December 31, 2011	$	24,211		$	18,971	$	6,700
Total net gains (losses) included in:
Net income ⁽¹⁾		—			—		501
Other comprehensive income		2			2,253		—
Purchases		3,840			—		—
Issuances		—			—		—
Sales		—			—		—
Settlements		(116	)		—		—
Net transfers into/(out of) Level 3⁽²⁾		(2,402	)		—		—

Balance at March 31, 2012	$	25,535		$	21,224	$	7,201

(1)

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

(2)

During the first quarter of 2012, one municipal security was transferred out of Level 3 into Level 2 as observable market information was available that market participants would use in pricing these securities. Transfers out of Level 3 are recognized at the end of the reporting period.

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis during the three months ended March 31, 2011 are summarized as follows:


(Dollars in thousands)	Municipal			Corporate notes and other debt			Mortgage- backed			Equity securities		Trading Account Securities			Mortgage servicing rights
Balance at December 31, 2010	$	16,416		$	9,841		$	2,460		$	28,672	$	4,372		$	8,762
Total net gains (losses) included in:
Net income ⁽¹⁾		—			(128	)		(14	)		—		—			686
Other comprehensive income		—			—			—			73		—			—
Purchases		3,957			—			277			—		—			—
Issuances		—			—			—			—		—			—
Sales		(4,779	)		—			—			—		(3,732	)		—
Settlements		—			—			—			—		—			—
Net transfers into/(out of) Level 3		—			—			—			—		—			—

Balance at March 31, 2011	$	15,594		$	9,713		$	2,723		$	28,745	$	640		$	9,448

(1)

Income for Corporate notes, other debt and mortgage-backed is recognized as a component of interest income on securities. 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


									Three Months Ended March 31, 2012 Fair Value
	March 31, 2012								Losses
(Dollars in thousands)	Total		Level 1		Level 2		Level 3		Recognized
Impaired loans - collateral based	$	165,604	$	—	$	—	$	165,604	$	5,965
Other real estate owned		76,236		—		—		76,236		7,328
Mortgage loans held-for-sale, at lower of cost or market		10,728		—		10,728		—		—

Total	$	252,568	$	—	$	10,728	$	241,840	$	13,293

Summary Of Carrying Amounts And Estimated Fair Values Of Financial Instruments


	At March 31, 2012				At December 31, 2011
(Dollars in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets:
Cash and cash equivalents	$	160,602	$	160,602	$	169,704	$	169,704
Interest bearing deposits with banks		900,755		900,755		749,287		749,287
Available-for-sale securities		1,869,344		1,869,344		1,291,797		1,291,797
Trading account securities		1,140		1,140		2,490		2,490
Brokerage customer receivables		31,085		31,085		27,925		27,925
Federal Home Loan Bank and Federal Reserve Bank stock, at cost		88,216		88,216		100,434		100,434
Mortgage loans held-for-sale, at fair value		339,600		339,600		306,838		306,838
Mortgage loans held-for-sale, at lower of cost or market		10,728		10,905		13,686		13,897
Total loans		11,408,604		11,798,811		11,172,745		11,590,729
Mortgage servicing rights		7,201		7,201		6,700		6,700
Nonqualified deferred compensation assets		5,315		5,315		4,299		4,299
Derivative assets		39,220		39,220		38,607		38,607
FDIC indemnification asset		263,212		263,212		344,251		344,251
Accrued interest receivable and other		153,755		153,755		147,207		147,207

Total financial assets	$	15,278,777	$	15,669,161	$	14,375,970	$	14,794,165


Financial Liabilities
Non-maturity deposits	$	7,841,467		7,841,467	$	7,424,367	$	7,424,367
Deposits with stated maturities		4,824,386		4,859,697		4,882,900		4,917,740
Notes payable		52,639		52,639		52,822		52,822
Federal Home Loan Bank advances		466,391		498,504		474,481		507,368
Subordinated notes		35,000		35,000		35,000		35,000
Other borrowings		411,037		411,037		443,753		443,753
Secured borrowings - owed to securitization investors		428,000		430,044		600,000		603,294
Junior subordinated debentures		249,493		177,355		249,493		185,199
Derivative liabilities		46,364		46,364		50,081		50,081
Accrued interest payable and other		11,531		11,531		12,952		12,952

Total financial liabilities	$	14,366,308	$	14,363,638	$	14,225,849	$	14,232,576

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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