Fair Value Of Financial Instruments

9 Months Ended

Sep. 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	September 30, 2015				December 31, 2014
(In thousands)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Loans:
Business	Level 3	$	4,406,854	$	4,438,854	$	3,969,952	$	3,982,531
Real estate - construction and land	Level 3	534,425		541,912		403,507		407,905
Real estate - business	Level 3	2,286,013		2,327,496		2,288,215		2,315,378
Real estate - personal	Level 3	1,920,650		1,968,453		1,883,092		1,933,456
Consumer	Level 3	1,886,806		1,885,963		1,705,134		1,701,037
Revolving home equity	Level 3	428,940		431,324		430,873		433,508
Consumer credit card	Level 3	756,093		769,878		782,370		794,929
Overdrafts	Level 3	4,493		4,493		6,095		6,095
Loans held for sale	Level 2	4,143		4,143		—		—
Investment securities:
Available for sale	Level 1	439,908		439,908		519,382		519,382
Available for sale	Level 2	8,939,862		8,939,862		8,909,035		8,909,035
Available for sale	Level 3	93,189		93,189		95,143		95,143
Trading	Level 2	14,463		14,463		15,357		15,357
Non-marketable	Level 3	116,634		116,634		106,875		106,875
Federal funds sold	Level 1	32,550		32,550		32,485		32,485
Securities purchased under agreements to resell	Level 3	975,000		978,480		1,050,000		1,048,866
Interest earning deposits with banks	Level 1	42,078		42,078		600,744		600,744
Cash and due from banks	Level 1	384,122		384,122		467,488		467,488
Derivative instruments	Level 2	15,916		15,916		10,454		10,454
Derivative instruments	Level 3	453		453		3		3
Financial Liabilities
Non-interest bearing deposits	Level 1	$	6,699,873	$	6,699,873	$	6,811,959	$	6,811,959
Savings, interest checking and money market deposits	Level 1	10,295,260		10,295,260		10,541,601		10,541,601
Time open and certificates of deposit	Level 3	1,991,627		1,991,741		2,122,218		2,121,114
Federal funds purchased	Level 1	561,700		561,700		3,840		3,840
Securities sold under agreements to repurchase	Level 3	1,631,497		1,631,562		1,858,678		1,858,731
Other borrowings	Level 3	103,831		109,939		104,058		111,102
Derivative instruments	Level 2	16,017		16,017		10,722		10,722
Derivative instruments	Level 3	234		234		226		226