Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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)
June 30, 2013
Investment securities – available-for-sale:
Government sponsored agencies	$	—	$	92,088	$	—	$	92,088
State and political subdivisions	—		45,780		—		45,780
Residential mortgage-backed securities	—		308,372		—		308,372
Collateralized mortgage obligations	—		220,515		—		220,515
Corporate bonds	—		65,515		—		65,515
Preferred stock	—		1,782		—		1,782
Total investment securities – available-for-sale	—		734,052		—		734,052
Loans held-for-sale	—		9,180		—		9,180
Total assets measured at fair value on a recurring basis	$	—	$	743,232	$	—	$	743,232
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
June 30, 2012
Investment securities – available-for-sale:
Government sponsored agencies	$	—	$	95,145	$	—	$	95,145
State and political subdivisions	—		52,131		—		52,131
Residential mortgage-backed securities	—		113,091		—		113,091
Collateralized mortgage obligations	—		321,897		—		321,897
Corporate bonds	—		91,766		—		91,766
Preferred stock	—		1,446		—		1,446
Total investment securities – available-for-sale	$	—	$	675,476	$	—	$	675,476

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)
June 30, 2013
Impaired originated loans	$	—	$	—	$	41,704	$	41,704
Other real estate/repossessed assets	—		—		13,659		13,659
Total	$	—	$	—	$	55,363	$	55,363
December 31, 2012
Impaired originated loans	$	—	$	—	$	51,694	$	51,694
Other real estate/repossessed assets	—		—		18,469		18,469
Total	$	—	$	—	$	70,163	$	70,163
June 30, 2012
Impaired originated loans	$	—	$	—	$	55,115	$	55,115
Other real estate/repossessed assets	—		—		23,509		23,509
Total	$	—	$	—	$	78,624	$	78,624

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	June 30, 2013				December 31, 2012				June 30, 2012
		Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
		(In thousands)
Assets:
Cash and cash equivalents	Level 1	$	206,957	$	206,957	$	656,135	$	656,135	$	241,823	$	241,823
Investment securities:
Available-for-sale	Level 2	734,052		734,052		582,054		582,054		675,476		675,476
Available-for-sale	NA	—		—		4,755		4,755		4,755		4,755
Held-to-maturity	Level 2	264,215		265,147		229,977		229,922		205,034		205,852
Held-to-maturity	Level 3	10,500		6,250		—		—		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	9,180		9,180		17,665		17,665		12,625		12,625
Net loans	Level 3	4,253,687		4,260,726		4,083,244		4,093,880		3,875,631		3,886,308
Interest receivable	Level 2	15,844		15,844		14,933		14,933		15,764		15,764
Liabilities:
Deposits without defined maturities	Level 2	$	3,434,266	$	3,434,266	$	3,448,886	$	3,448,886	$	2,933,079	$	2,933,079
Time deposits	Level 3	1,379,919		1,390,381		1,472,557		1,489,072		1,450,465		1,469,738
Interest payable	Level 2	1,085		1,085		1,501		1,501		1,755		1,755
Short-term borrowings	Level 2	346,995		346,995		310,463		310,463		299,748		299,748
FHLB advances	Level 2	—		—		34,289		34,835		38,177		39,066