Fair Value Of Financial Instruments

3 Months Ended

Mar. 31, 2017

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 Fair Value Measurements and the Fair Value of Financial Instruments notes in the Company's 2016 Annual Report on Form 10-K. There have been no significant changes in these methods and inputs since December 31, 2016, except as mentioned in Note 10 on Derivatives.

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, 2017				December 31, 2016
(In thousands)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Loans:
Business	Level 3	$	4,888,011	$	4,897,223	$	4,776,365	$	4,787,469
Real estate - construction and land	Level 3	846,904		856,027		791,236		800,426
Real estate - business	Level 3	2,710,595		2,723,734		2,643,374		2,658,093
Real estate - personal	Level 3	2,013,437		2,006,535		2,010,397		2,005,227
Consumer	Level 3	1,975,521		1,957,407		1,990,801		1,974,784
Revolving home equity	Level 3	396,542		397,307		413,634		414,499
Consumer credit card	Level 3	736,766		754,362		776,465		794,856
Overdrafts	Level 3	4,733		4,733		10,464		10,464
Loans held for sale	Level 2	15,559		15,559		14,456		14,456
Investment securities:
Available for sale	Level 1	939,499		939,499		945,871		945,871
Available for sale	Level 2	8,715,393		8,715,393		8,686,650		8,686,650
Available for sale	Level 3	17,083		17,083		16,682		16,682
Trading	Level 2	20,200		20,200		22,225		22,225
Non-marketable	Level 3	101,688		101,688		99,558		99,558
Federal funds sold	Level 1	2,205		2,205		15,470		15,470
Securities purchased under agreements to resell	Level 3	725,000		728,705		725,000		728,179
Interest earning deposits with banks	Level 1	120,234		120,234		272,275		272,275
Cash and due from banks	Level 1	416,161		416,161		494,690		494,690
Derivative instruments	Level 2	8,925		8,925		13,146		13,146
Derivative instruments	Level 3	960		960		420		420
Assets held in trust for deferred compensation plan	Level 1	11,583		11,583		10,261		10,261
Financial Liabilities
Non-interest bearing deposits	Level 1	$	7,237,815	$	7,237,815	$	7,429,398	$	7,429,398
Savings, interest checking and money market deposits	Level 1	11,439,078		11,439,078		11,430,789		11,430,789
Time open and certificates of deposit	Level 3	2,414,960		2,406,892		2,240,908		2,235,218
Federal funds purchased	Level 1	340,195		340,195		52,840		52,840
Securities sold under agreements to repurchase	Level 3	980,954		981,155		1,671,065		1,671,227
Other borrowings	Level 3	101,975		103,564		102,049		104,298
Derivative instruments	Level 2	7,260		7,260		13,177		13,177
Derivative instruments	Level 3	138		138		162		162
Liabilities held in trust for deferred compensation plan	Level 1	11,583		11,583		10,261		10,261