Fair Value Of Financial Instruments

9 Months Ended

Sep. 30, 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	September 30, 2017				December 31, 2016
(In thousands)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Loans:
Business	Level 3	$	4,834,037	$	4,848,169	$	4,776,365	$	4,787,469
Real estate - construction and land	Level 3	921,609		933,862		791,236		800,426
Real estate - business	Level 3	2,700,174		2,712,002		2,643,374		2,658,093
Real estate - personal	Level 3	2,029,302		2,034,374		2,010,397		2,005,227
Consumer	Level 3	2,113,438		2,088,302		1,990,801		1,974,784
Revolving home equity	Level 3	391,308		391,419		413,634		414,499
Consumer credit card	Level 3	752,379		767,344		776,465		794,856
Overdrafts	Level 3	3,245		3,245		10,464		10,464
Loans held for sale	Level 2	17,337		17,337		14,456		14,456
Investment securities:
Available for sale	Level 1	951,519		951,519		945,871		945,871
Available for sale	Level 2	8,140,915		8,140,915		8,686,650		8,686,650
Available for sale	Level 3	16,853		16,853		16,682		16,682
Trading	Level 2	24,605		24,605		22,225		22,225
Non-marketable	Level 3	99,268		99,268		99,558		99,558
Federal funds sold	Level 1	32,630		32,630		15,470		15,470
Securities purchased under agreements to resell	Level 3	700,000		702,989		725,000		728,179
Interest earning deposits with banks	Level 1	105,422		105,422		272,275		272,275
Cash and due from banks	Level 1	461,724		461,724		494,690		494,690
Derivative instruments	Level 2	10,837		10,837		13,146		13,146
Derivative instruments	Level 3	813		813		420		420
Assets held in trust for deferred compensation plan	Level 1	12,311		12,311		10,261		10,261
Financial Liabilities
Non-interest bearing deposits	Level 1	$	7,536,127	$	7,536,127	$	7,429,398	$	7,429,398
Savings, interest checking and money market deposits	Level 1	11,091,200		11,091,200		11,430,789		11,430,789
Time open and certificates of deposit	Level 3	1,816,446		1,820,178		2,240,908		2,235,218
Federal funds purchased	Level 1	350,910		350,910		52,840		52,840
Securities sold under agreements to repurchase	Level 3	1,058,074		1,058,459		1,671,065		1,671,227
Other borrowings	Level 3	102,553		103,012		102,049		104,298
Derivative instruments	Level 2	5,850		5,850		13,177		13,177
Derivative instruments	Level 3	129		129		162		162
Liabilities held in trust for deferred compensation plan	Level 1	12,311		12,311		10,261		10,261