Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

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

The table below presents the June 30, 2012 and December 31, 2011 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first six months of 2012 or the year ended December 31, 2011.



			Fair Value Measurements Using
(In thousands)	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2012
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	370,123	$	362,608	$	7,515	$	—
Government-sponsored enterprise obligations	266,702		—		266,702		—
State and municipal obligations	1,358,537		—		1,230,997		127,540
Agency mortgage-backed securities	3,802,110		—		3,802,110		—
Non-agency mortgage-backed securities	269,304		—		269,304		—
Other asset-backed securities	2,991,092		—		2,991,092		—
Other debt securities	110,814		—		110,814		—
Equity securities	37,769		24,373		13,396		—
Trading securities	14,313		—		14,313		—
Private equity investments	65,766		—		—		65,766
Derivatives *	20,445		—		20,435		10
Assets held in trust	5,145		5,145		—		—
Total assets	$	9,312,120	$	392,126	$	8,726,678	$	193,316
Liabilities:
Derivatives *	$	21,515	$	—	$	21,406	$	109
Total liabilities	$	21,515	$	—	$	21,406	$	109
December 31, 2011
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	364,665	$	357,155	$	7,510	$	—
Government-sponsored enterprise obligations	315,698		—		315,698		—
State and municipal obligations	1,245,284		—		1,109,663		135,621
Agency mortgage-backed securities	4,106,059		—		4,106,059		—
Non-agency mortgage-backed securities	316,902		—		316,902		—
Other asset-backed securities	2,693,143		—		2,693,143		—
Other debt securities	141,260		—		141,260		—
Equity securities	41,691		27,808		13,883		—
Trading securities	17,853		—		17,853		—
Private equity investments	66,978		—		—		66,978
Derivatives *	21,537		—		21,502		35
Assets held in trust	4,506		4,506		—		—
Total assets	$	9,335,576	$	389,469	$	8,743,473	$	202,634
Liabilities:
Derivatives *	$	22,722	$	—	$	22,564	$	158
Total liabilities	$	22,722	$	—	$	22,564	$	158

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

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
(In thousands)	State and Municipal Obligations			Private Equity Investments			Derivatives			Total
For the three months ended June 30, 2012
Balance March 31, 2012	$	129,873		$	72,121		$	(106	)	$	201,888
Total gains or losses (realized/unrealized):
Included in earnings	—			1,475			7			1,482
Included in other comprehensive income	520			—			—			520
Investment securities called	(3,000		)	—			—			(3,000		)
Discount accretion	147			—			—			147
Sale/pay down of private equity investments	—			(7,845		)	—			(7,845		)
Capitalized interest/dividends	—			15			—			15
Balance June 30, 2012	$	127,540		$	65,766		$	(99	)	$	193,207
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2012	$	—		$	600		$	7		$	607
For the six months ended June 30, 2012
Balance January 1, 2012	$	135,621		$	66,978		$	(123	)	$	202,476
Total gains or losses (realized/unrealized):
Included in earnings	—			5,600			(4		)	5,596
Included in other comprehensive income	(4,938		)	—			—			(4,938		)
Investment securities called	(3,350		)	—			—			(3,350		)
Discount accretion	207			—			—			207
Purchase of private equity securities	—			3,275			—			3,275
Sale/pay down of private equity investments	—			(10,279		)	—			(10,279		)
Capitalized interest/dividends	—			192			—			192
Purchase of risk participation agreement	—			—			28			28
Balance June 30, 2012	$	127,540		$	65,766		$	(99	)	$	193,207
Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2012	$	—		$	4,575		$	5		$	4,580
For the three months ended June 30, 2011
Balance March 31, 2011	$	143,207		$	55,507		$	(8	)	$	198,706
Total gains or losses (realized/unrealized):
Included in earnings	—			2,605			(5		)	2,600
Included in other comprehensive income	(340		)	—			—			(340		)
Investment securities called	(1,025		)	—			—			(1,025		)
Discount accretion	98			—			—			98
Purchase of private equity investments	—			3,060			—			3,060
Capitalized interest/dividends	—			1			—			1
Sales of risk participation agreements	—			—			(275		)	(275		)
Balance June 30, 2011	$	141,940		$	61,173		$	(288	)	$	202,825
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2011	$	—		$	2,605		$	108		$	2,713
For the six months ended June 30, 2011
Balance January 1, 2011	$	150,089		$	53,860		$	352		$	204,301
Total gains or losses (realized/unrealized):
Included in earnings	—			4,030			(368		)	3,662
Included in other comprehensive income	(1,611		)	—			—			(1,611		)
Investment securities called	(6,943		)	—			—			(6,943		)
Discount accretion	405			—			—			405
Purchase of private equity investments	—			3,239			—			3,239
Capitalized interest/dividends	—			44			—			44
Purchase of risk participation agreement	—			—			79			79
Sales of risk participation agreements	—			—			(351		)	(351		)
Balance June 30, 2011	$	141,940		$	61,173		$	(288	)	$	202,825
Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2011	$	—		$	4,030		$	114		$	4,144

Summary Of Gains And Losses On Level 3 Assets And Liabilities

Gains and losses on the Level 3 assets and liabilities in the previous table are reported in the following income categories:



(In thousands)	Loan Fees and Sales			Other Non-Interest Income		Investment Securities Gains (Losses), Net		Total
For the three months ended June 30, 2012
Total gains or losses included in earnings	$	—		$	7	$	1,475	$	1,482
Change in unrealized gains or losses relating to assets still held at June 30, 2012	$	—		$	7	$	600	$	607
For the six months ended June 30, 2012
Total gains or losses included in earnings	$	(9	)	$	5	$	5,600	$	5,596
Change in unrealized gains or losses relating to assets still held at June 30, 2012	$	—		$	5	$	4,575	$	4,580
For the three months ended June 30, 2011
Total gains or losses included in earnings	$	(34	)	$	29	$	2,605	$	2,600
Change in unrealized gains or losses relating to assets still held at June 30, 2011	$	79		$	29	$	2,605	$	2,713
For the six months ended June 30, 2011
Total gains or losses included in earnings	$	(403	)	$	35	$	4,030	$	3,662
Change in unrealized gains or losses relating to assets still held at June 30, 2011	$	79		$	35	$	4,030	$	4,144

Summary Of Quantitative Information About Level 3 Fair Value Measurements

As shown above, the Company's significant Level 3 measurements which employ unobservable inputs that are readily quantifiable pertain to auction rate securities (ARS) and investments in portfolio concerns held by the Company's private equity subsidiaries. ARS are included in state and municipal securities and totaled $127.5 million at June 30, 2012, while private equity investments, included in non-marketable securities, totaled $65.8 million.

Information about these inputs is presented in the table and discussions below.



Quantitative Information about Level 3 Fair Value Measurements
	Valuation Technique	Unobservable Input	Range
Auction rate securities	Discounted cash flow	Estimated market recovery period	5 years
		Estimated market rate	2.9%	-	4.3%
Private equity investments	Market comparable companies	EBITDA multiple	4.0%	-	5.5%

Schedule Of Fair Value Disclosures Measured On Nonrecurring Basis [Table Text Block]

For assets measured at fair value on a nonrecurring basis during the first six months of 2012 and 2011 and still held as of June 30, 2012 and 2011, the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation inputs used to determine each adjustment, and the carrying value of the related individual assets or portfolios at June 30, 2012 and 2011. The loss in fair value recognized on long-lived assets in the first six months of 2012 resulted primarily from the Company's decision to market certain property adjacent to an office building in downtown Kansas City, also held for sale, which required a write-down to fair value less selling costs.



			Fair Value Measurements Using
(In thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses) Recognized During the Six Months Ended June 30
June 30, 2012
Loans	$	27,176	$	—	$	—	$	27,176	$	(5,918	)
Mortgage servicing rights	574		—		—		574		20
Foreclosed assets	1,550		—		—		1,550		(425		)
Long-lived assets	5,397		—		—		5,397		(3,398		)

June 30, 2011
Loans	$	39,957	$	—	$	—	$	39,957	$	(8,101	)
Mortgage servicing rights	1,195		—		—		1,195		11
Foreclosed assets	2,163		—		—		2,163		(377		)
Long-lived assets	4,403		—		—		4,403		(1,511		)