Fair Value Of Financial Instruments

6 Months Ended

Jun. 30, 2015

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 2014 Annual Report on Form 10-K. There have been no significant changes in these methods and inputs since December 31, 2014.

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	June 30, 2015				December 31, 2014
(In thousands)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Loans:
Business	Level 3	$	4,267,997	$	4,282,667	$	3,969,952	$	3,982,531
Real estate - construction and land	Level 3	448,887		454,531		403,507		407,905
Real estate - business	Level 3	2,276,231		2,308,581		2,288,215		2,315,378
Real estate - personal	Level 3	1,901,671		1,932,967		1,883,092		1,933,456
Consumer	Level 3	1,848,457		1,843,240		1,705,134		1,701,037
Revolving home equity	Level 3	430,880		433,447		430,873		433,508
Consumer credit card	Level 3	750,731		763,226		782,370		794,929
Overdrafts	Level 3	3,627		3,627		6,095		6,095
Loans held for sale	Level 2	7,852		7,852		—		—
Investment securities:
Available for sale	Level 1	455,138		455,138		519,382		519,382
Available for sale	Level 2	8,673,743		8,673,743		8,909,035		8,909,035
Available for sale	Level 3	92,940		92,940		95,143		95,143
Trading	Level 2	18,971		18,971		15,357		15,357
Non-marketable	Level 3	108,346		108,346		106,875		106,875
Federal funds sold	Level 1	26,875		26,875		32,485		32,485
Securities purchased under agreements to resell	Level 3	1,050,000		1,050,400		1,050,000		1,048,866
Interest earning deposits with banks	Level 1	264,683		264,683		600,744		600,744
Cash and due from banks	Level 1	409,791		409,791		467,488		467,488
Derivative instruments	Level 2	10,266		10,266		10,454		10,454
Derivative instruments	Level 3	355		355		3		3
Financial Liabilities
Non-interest bearing deposits	Level 1	$	6,886,509	$	6,886,509	$	6,811,959	$	6,811,959
Savings, interest checking and money market deposits	Level 1	10,369,031		10,369,031		10,541,601		10,541,601
Time open and certificates of deposit	Level 3	2,033,169		2,031,121		2,122,218		2,121,114
Federal funds purchased	Level 1	350		350		3,840		3,840
Securities sold under agreements to repurchase	Level 3	1,665,693		1,665,751		1,858,678		1,858,731
Other borrowings	Level 3	103,843		110,087		104,058		111,102
Derivative instruments	Level 2	10,163		10,163		10,722		10,722
Derivative instruments	Level 3	185		185		226		226