Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Summary of assets measured at fair value on a recurring basis

For assets measured at fair value on a recurring basis, quantitative disclosures about the fair value measurements for each major category of assets were as follows:

	Fair Value Measurements – Recurring Basis
	Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In thousands)
March 31, 2013
Investment securities – available-for-sale:
Government sponsored agencies	$	—	$	95,379	$	—	$	95,379
State and political subdivisions	—		49,249		—		49,249
Residential mortgage-backed securities	—		239,192		—		239,192
Collateralized mortgage obligations	—		247,668		—		247,668
Corporate bonds	—		65,548		—		65,548
Preferred stock	—		1,831		—		1,831
Total investment securities – available-for-sale	—		698,867		—		698,867
Loans held-for-sale	—		14,850		—		14,850
Total assets measured at fair value on a recurring basis	$	—	$	713,717	$	—	$	713,717
December 31, 2012
Investment securities – available-for-sale:
Government sponsored agencies	$	—	$	97,557	$	—	$	97,557
State and political subdivisions	—		49,965		—		49,965
Residential mortgage-backed securities	—		99,411		—		99,411
Collateralized mortgage obligations	—		263,592		—		263,592
Corporate bonds	—		69,795		—		69,795
Preferred stock	—		1,734		—		1,734
Total investment securities – available-for-sale	—		582,054		—		582,054
Loans held-for-sale	—		17,665		—		17,665
Total assets measured at fair value on a recurring basis	$	—	$	599,719	$	—	$	599,719
March 31, 2012
Investment securities – available-for-sale:
Government sponsored agencies	$	—	$	77,526	$	—	$	77,526
State and political subdivisions	—		44,056		—		44,056
Residential mortgage-backed securities	—		110,905		—		110,905
Collateralized mortgage obligations	—		355,952		—		355,952
Corporate bonds	—		86,066		—		86,066
Preferred stock	—		1,502		—		1,502
Total investment securities – available-for-sale	$	—	$	676,007	$	—	$	676,007

Summary of assets measured at fair value on a nonrecurring basis

For assets measured at fair value on a nonrecurring basis, quantitative disclosures about fair value measurements for each major category of assets were as follows:

	Fair Value Measurements – Nonrecurring Basis
	Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In thousands)
March 31, 2013
Impaired originated loans	$	—	$	—	$	47,073	$	47,073
Other real estate/repossessed assets	—		—		18,194		18,194
Total	$	—	$	—	$	65,267	$	65,267
December 31, 2012
Impaired originated loans	$	—	$	—	$	51,694	$	51,694
Other real estate/repossessed assets	—		—		18,469		18,469
Total	$	—	$	—	$	70,163	$	70,163
March 31, 2012
Impaired originated loans	$	—	$	—	$	58,202	$	58,202
Other real estate/repossessed assets	—		—		25,944		25,944
Total	$	—	$	—	$	84,146	$	84,146

Summary of carrying amounts and estimated fair values of the financial instruments

A summary of carrying amounts and estimated fair values of the Corporation’s financial instruments included in the consolidated statements of financial position was as follows:

	Level in Fair Value Measurement Hierarchy	March 31, 2013				December 31, 2012				March 31, 2012
		Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
		(In thousands)
Assets:
Cash and cash equivalents	Level 1	$	578,726	$	578,726	$	656,135	$	656,135	$	473,678	$	473,678
Investment securities:
Available-for-sale	Level 2	698,867		698,867		582,054		582,054		676,007		676,007
Available-for-sale	NA	4,755		4,755		4,755		4,755		—		—
Held-to-maturity	Level 2	257,749		261,405		229,977		229,922		183,297		184,372
Held-to-maturity	Level 3	—		—		—		—		8,000		8,000
Nonmarketable equity securities	NA	25,572		25,572		25,572		25,572		25,572		25,572
Loans held-for-sale	Level 2	14,850		14,850		17,665		17,665		25,080		25,109
Net loans	Level 3	4,102,427		4,123,585		4,083,244		4,093,880		3,755,313		3,781,585
Interest receivable	Level 2	16,960		16,960		14,933		14,933		16,804		16,804
Liabilities:
Deposits without defined maturities	Level 2	$	3,574,832	$	3,574,832	$	3,448,886	$	3,448,886	$	2,981,632	$	2,981,632
Time deposits	Level 3	1,432,526		1,448,634		1,472,557		1,489,072		1,479,752		1,500,227
Interest payable	Level 2	1,338		1,338		1,501		1,501		2,039		2,039
Short-term borrowings	Level 2	347,484		347,484		310,463		310,463		335,082		335,082
FHLB advances	Level 2	—		—		34,289		34,835		42,120		43,186