Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

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

The table below presents the carrying values of assets and liabilities measured at fair value on a recurring basis at December 31, 2014 and 2013. There were no transfers among levels during these years.



			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)
December 31, 2014
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	501,407	$	501,407	$	—	$	—
Government-sponsored enterprise obligations	963,127		—		963,127		—
State and municipal obligations	1,813,201		—		1,718,058		95,143
Agency mortgage-backed securities	2,593,708		—		2,593,708		—
Non-agency mortgage-backed securities	382,744		—		382,744		—
Asset-backed securities	3,091,993		—		3,091,993		—
Other debt securities	139,161		—		139,161		—
Equity securities	38,219		17,975		20,244		—
Trading securities	15,357		—		15,357		—
Private equity investments	57,581		—		—		57,581
Derivatives *	10,457		—		10,454		3
Assets held in trust	8,848		8,848		—		—
Total assets	9,615,803		528,230		8,934,846		152,727
Liabilities:
Derivatives *	10,948		—		10,722		226
Total liabilities	$	10,948	$	—	$	10,722	$	226
December 31, 2013
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	505,696	$	505,696	$	—	$	—
Government-sponsored enterprise obligations	741,766		—		741,766		—
State and municipal obligations	1,619,171		—		1,491,447		127,724
Agency mortgage-backed securities	2,772,338		—		2,772,338		—
Non-agency mortgage-backed securities	246,983		—		246,983		—
Asset-backed securities	2,844,071		—		2,844,071		—
Other debt securities	141,757		—		141,757		—
Equity securities	43,898		24,646		19,252		—
Trading securities	19,993		—		19,993		—
Private equity investments	56,612		—		—		56,612
Derivatives *	12,980		—		12,976		4
Assets held in trust	7,511		7,511		—		—
Total assets	9,012,776		537,853		8,290,583		184,340
Liabilities:
Derivatives *	13,329		—		13,260		69
Total liabilities	$	13,329	$	—	$	13,260	$	69


*	The fair value of each class of derivative is shown in Note 18.

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

he 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
Year ended December 31, 2014:
Balance at January 1, 2014	$	127,724		$	56,612		$	(65	)	$	184,271
Total gains or losses (realized/unrealized):
Included in earnings	—			19,137			122			19,259
Included in other comprehensive income	3,638			—			—			3,638
Investment securities called	(38,225		)	—			—			(38,225		)
Discount accretion	2,006			—			—			2,006
Purchases of private equity securities	—			14,152			—			14,152
Sale / paydown of private equity securities	—			(32,464		)	—			(32,464		)
Capitalized interest/dividends	—			144			—			144
Purchase of risk participation agreement	—			—			41			41
Sale of risk participation agreement	—			—			(321		)	(321		)
Balance at December 31, 2014	$	95,143		$	57,581		$	(223	)	$	152,501
Total gains or losses for the annual period included in earnings attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2014	$	—		$	718		$	118		$	836
Year ended December 31, 2013:
Balance at January 1, 2013	$	126,414		$	68,167		$	(187	)	$	194,394
Total gains or losses (realized/unrealized):
Included in earnings	—			(2,971		)	234			(2,737		)
Included in other comprehensive income	3,253			—			—			3,253
Investment securities called	(2,150		)	—			—			(2,150		)
Discount accretion	207			—			—			207
Purchases of private equity securities	—			3,950			—			3,950
Sale / paydown of private equity securities	—			(12,865		)	—			(12,865		)
Capitalized interest/dividends	—			331			—			331
Sale of risk participation agreement	—			—			(112		)	(112		)
Balance at December 31, 2013	$	127,724		$	56,612		$	(65	)	$	184,271
Total gains or losses for the annual period included in earnings attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2013	$	—		$	(5,297	)	$	234		$	(5,063	)

Summary Of Gains And Losses On Level 3 Assets And Liabilities

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



(In thousands)	Other Non-Interest Income		Investment Securities Gains (Losses), Net			Total
Year ended December 31, 2014:
Total gains or losses included in earnings	$	122	$	19,137		$	19,259
Change in unrealized gains or losses relating to assets still held at December 31, 2014	$	118	$	718		$	836
Year ended December 31, 2013:
Total gains or losses included in earnings	$	234	$	(2,971	)	$	(2,737	)
Change in unrealized gains or losses relating to assets still held at December 31, 2013	$	234	$	(5,297	)	$	(5,063	)

Summary Of Quantitative Information About Level 3 Fair Value Measurements

nformation 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	3	-	5 years
		Estimated market rate	2.1%	-	5.3%
Private equity investments	Market comparable companies	EBITDA multiple	4.0	-	5.5

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

or assets measured at fair value on a nonrecurring basis during 2014 and 2013, and still held as of December 31, 2014 and 2013, the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation assumptions used to determine each adjustment, and the carrying value of the related individual assets or portfolios at December 31, 2014 and 2013.



			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)
Balance at December 31, 2014
Collateral dependent impaired loans	$	11,742	$	—	$	—	$	11,742	$	(1,184	)
Private equity investments	984		—		—		984		(1,516		)
Mortgage servicing rights	878		—		—		878		(13		)
Foreclosed assets	2,540		—		—		2,540		(706		)
Long-lived assets	9,895		—		—		9,895		(2,327		)
Balance at December 31, 2013
Collateral dependent impaired loans	$	23,654	$	—	$	—	$	23,654	$	(8,406	)
Private equity investments	500		—		—		500		(500		)
Mortgage servicing rights	779		—		—		779		309
Foreclosed assets	1,287		—		—		1,287		(430		)