Fair Value Of Financial Instruments

3 Months Ended

Mar. 31, 2013

Fair Value Of Financial Instruments [Abstract]

Fair Value Of Financial Instruments

Fair Value of Financial Instruments

The carrying amounts and estimated fair values of financial instruments held by the Company are set forth below. Fair value estimates are made at a specific point in time based on relevant market information. They do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for many of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, risk characteristics and economic conditions. These estimates are subjective, involve uncertainties, and cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

The methods and inputs used in the estimation of fair value for the financial instruments in the table below are discussed in the preceding Fair Value Measurements note and in the Fair Value of Financial Instruments note in the Company's 2012 Annual Report on Form 10-K. There have been no significant changes in these methods and inputs since December 31, 2012.

The estimated fair values of the Company’s financial instruments and the classification of their fair value measurement within the valuation hierarchy are as follows:

	Fair Value Hierarchy Level	March 31, 2013				December 31, 2012
(In thousands)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Loans:
Business	Level 3	$	3,206,594	$	3,204,949	$	3,134,801	$	3,144,989
Real estate - construction and land	Level 3	353,659		354,859		355,996		352,547
Real estate - business	Level 3	2,213,353		2,243,164		2,214,975		2,240,796
Real estate - personal	Level 3	1,626,106		1,683,396		1,584,859		1,642,820
Consumer	Level 3	1,408,246		1,432,017		1,289,650		1,309,403
Revolving home equity	Level 3	420,219		426,998		437,567		441,651
Consumer credit card	Level 3	750,671		755,540		804,245		823,560
Overdrafts	Level 3	3,838		3,838		9,291		9,291
Loans held for sale	Level 2	3,356		3,372		3,017		3,030
Loans held for sale	Level 3	5,729		5,729		5,810		5,810
Investment securities:
Available for sale	Level 1	471,871		471,871		456,594		456,594
Available for sale	Level 2	8,972,737		8,972,737		8,939,240		8,939,240
Available for sale	Level 3	128,143		128,143		126,414		126,414
Trading	Level 2	23,400		23,400		28,837		28,837
Non-marketable	Level 3	118,620		118,620		118,650		118,650
Federal funds sold	Level 1	7,820		7,820		27,595		27,595
Securities purchased under agreements to resell	Level 3	1,200,000		1,211,324		1,200,000		1,215,234
Interest earning deposits with banks	Level 1	199,956		199,956		179,164		179,164
Cash and due from banks	Level 1	413,019		413,019		573,066		573,066
Derivative instruments	Level 2	16,137		16,137		16,731		16,731
Derivative instruments	Level 3	8		8		9		9
Financial Liabilities
Non-interest bearing deposits	Level 1	$	6,170,274	$	6,170,274	$	6,299,903	$	6,299,903
Savings, interest checking and money market deposits	Level 1	9,802,838		9,802,838		9,817,943		9,817,943
Time open and certificates of deposit	Level 3	2,541,755		2,548,664		2,230,807		2,239,595
Federal funds purchased	Level 1	36,750		36,750		24,510		24,510
Securities sold under agreements to repurchase	Level 3	1,090,108		1,088,655		1,059,040		1,057,462
Other borrowings	Level 3	102,783		115,759		103,710		117,527
Derivative instruments	Level 2	16,655		16,655		17,522		17,522
Derivative instruments	Level 3	139		139		196		196