10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)
þ	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
	SECURITIES EXCHANGE ACT OF 1934

_________________________________________________________

For the quarterly period ended March 31, 2019

OR

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
	SECURITIES EXCHANGE ACT OF 1934

____________________________________________________________

For the transition period from           to          

Commission File No. 0-2989

	COMMERCE BANCSHARES, INC.
(Exact name of registrant as specified in its charter)

Missouri	43-0889454
(State of Incorporation)	(IRS Employer Identification No.)
1000 Walnut, Kansas City, MO	64106
(Address of principal executive offices)	(Zip Code)
(816) 234-2000
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes þ     No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes þ     No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer þ Accelerated filer o Non-accelerated filer o Smaller reporting company £ Emerging growth company £

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o     No þ

As of May 1, 2019, the registrant had outstanding 110,507,831 shares of its $5 par value common stock, registrant’s only class of common stock.

Commerce Bancshares, Inc. and Subsidiaries

Form 10-Q

			Page
INDEX
Part I	Financial Information
	Item 1.	Financial Statements
		Consolidated Balance Sheets as of March 31, 2019 (unaudited) and December 31, 2018	3
		Consolidated Statements of Income for the Three Months Ended March 31, 2019 and 2018 (unaudited)	4
		Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2019 and 2018 (unaudited)	5
		Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2019 and 2018 (unaudited)	6
		Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2019 and 2018 (unaudited)	7
		Notes to Consolidated Financial Statements	8
	Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	38
	Item 3.	Quantitative and Qualitative Disclosures about Market Risk	58
	Item 4.	Controls and Procedures	59
Part II	Other Information
	Item 1.	Legal Proceedings	60
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	60
	Item 6.	Exhibits	60
Signatures			61

2

PART I: FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

	March 31, 2019			December 31, 2018
	(Unaudited)
	(In thousands)
ASSETS
Loans	$	14,120,722		$	14,140,298
Allowance for loan losses	(160,682		)	(159,932		)
Net loans	13,960,040			13,980,366
Loans held for sale (including $8,908,000 and $13,529,000 of residential mortgage loans carried at fair value at March 31, 2019 and December 31, 2018, respectively)	20,085			20,694
Investment securities:
Available for sale debt ($312,276,000 and $463,325,000 pledged at March 31, 2019 and
December 31, 2018, respectively, to secure swap and repurchase agreements)	8,627,890			8,538,041
Trading debt	30,427			27,059
Equity	4,694			4,409
Other	129,504			129,157
Total investment securities	8,792,515			8,698,666
Federal funds sold and short-term securities purchased under agreements to resell	250			3,320
Long-term securities purchased under agreements to resell	700,000			700,000
Interest earning deposits with banks	166,077			689,876
Cash and due from banks	428,018			507,892
Premises and equipment, net	362,679			333,119
Goodwill	138,921			138,921
Other intangible assets, net	8,511			8,794
Other assets	456,375			382,194
Total assets	$	25,033,471		$	25,463,842
LIABILITIES AND EQUITY
Deposits:
Non-interest bearing	$	6,298,724		$	6,980,298
Savings, interest checking and money market	11,799,346			11,685,239
Certificates of deposit of less than $100,000	599,289			586,091
Certificates of deposit of $100,000 and over	1,276,994			1,072,031
Total deposits	19,974,353			20,323,659
Federal funds purchased and securities sold under agreements to repurchase	1,722,751			1,956,389
Other borrowings	2,022			8,702
Other liabilities	291,132			237,943
Total liabilities	21,990,258			22,526,693
Commerce Bancshares, Inc. stockholders’ equity:
Preferred stock, $1 par value
Authorized 2,000,000 shares; issued 6,000 shares	144,784			144,784
Common stock, $5 par value
Authorized 120,000,000 shares;
issued 111,886,450 shares	559,432			559,432
Capital surplus	2,074,912			2,084,824
Retained earnings	307,193			241,163
Treasury stock of 985,029 shares at March 31, 2019
and 555,100 shares at December 31, 2018, at cost	(60,547		)	(34,236		)
Accumulated other comprehensive income (loss)	11,981			(64,669		)
Total Commerce Bancshares, Inc. stockholders' equity	3,037,755			2,931,298
Non-controlling interest	5,458			5,851
Total equity	3,043,213			2,937,149
Total liabilities and equity	$	25,033,471		$	25,463,842

See accompanying notes to consolidated financial statements.

3

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF INCOME

	For the Three Months Ended March 31
(In thousands, except per share data)	2019			2018
	(Unaudited)
INTEREST INCOME
Interest and fees on loans	$	166,432		$	147,015
Interest and fees on loans held for sale	334			304
Interest on investment securities	55,422			53,242
Interest on federal funds sold and short-term securities purchased under
agreements to resell	33			180
Interest on long-term securities purchased under agreements to resell	3,758			4,114
Interest on deposits with banks	1,886			1,140
Total interest income	227,865			205,995
INTEREST EXPENSE
Interest on deposits:
Savings, interest checking and money market	9,602			5,589
Certificates of deposit of less than $100,000	1,259			662
Certificates of deposit of $100,000 and over	6,002			2,839
Interest on federal funds purchased and securities sold under
agreements to repurchase	7,509			4,001
Interest on other borrowings	5			12
Total interest expense	24,377			13,103
Net interest income	203,488			192,892
Provision for loan losses	12,463			10,396
Net interest income after provision for loan losses	191,025			182,496
NON-INTEREST INCOME
Bank card transaction fees	39,644			41,453
Trust fees	37,256			36,062
Deposit account charges and other fees	23,018			22,982
Capital market fees	1,879			2,291
Consumer brokerage services	3,747			3,768
Loan fees and sales	3,309			2,862
Other	12,387			10,272
Total non-interest income	121,240			119,690
INVESTMENT SECURITIES GAINS (LOSSES), NET	(925		)	5,410
NON-INTEREST EXPENSE
Salaries and employee benefits	122,128			115,894
Net occupancy	11,501			11,584
Equipment	4,471			4,431
Supplies and communication	5,162			5,313
Data processing and software	22,260			20,690
Marketing	5,900			4,805
Deposit insurance	1,710			3,457
Community service	803			729
Other	17,490			15,374
Total non-interest expense	191,425			182,277
Income before income taxes	119,915			125,319
Less income taxes	22,860			23,258
Net income	97,055			102,061
Less non-controlling interest expense (income)	(83		)	1,077
Net income attributable to Commerce Bancshares, Inc.	97,138			100,984
Less preferred stock dividends	2,250			2,250
Net income available to common shareholders	$	94,888		$	98,734
Net income per common share — basic	$	.85		$	.88
Net income per common share — diluted	$	.85		$	.88

See accompanying notes to consolidated financial statements.

4

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

		For the Three Months Ended March 31
(In thousands)		2019			2018
	(Unaudited)
Net income		$	97,055		$	102,061
Other comprehensive income (loss):
Net unrealized gains on securities for which a portion of an other-than-temporary impairment has been recorded in earnings		41			45
Net unrealized gains (losses) on other securities		73,441			(73,721		)
Pension loss amortization		389			393
Unrealized gains on cash flow hedge derivatives		2,779			—
Other comprehensive income (loss)		76,650			(73,283		)
Comprehensive income		173,705			28,778
Less non-controlling interest expense (income)		(83		)	1,077
Comprehensive income attributable to Commerce Bancshares, Inc.		$	173,788		$	27,701

See accompanying notes to consolidated financial statements.

5

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

			Commerce Bancshares, Inc. Shareholders
(In thousands, except per share data)	Preferred Stock		Common Stock		Capital Surplus			Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Income (Loss)			Non-Controlling Interest			Total
	(Unaudited)
Balance December 31, 2018	$	144,784	$	559,432	$	2,084,824		$	241,163		$	(34,236	)	$	(64,669	)	$	5,851		$	2,937,149
Net income								97,138									(83		)	97,055
Other comprehensive income														76,650						76,650
Distributions to non-controlling interest																	(310		)	(310		)
Purchases of treasury stock											(39,699		)							(39,699		)
Issuance of stock under purchase and equity compensation plans					(13,392		)				13,388									(4		)
Stock-based compensation					3,480															3,480
Cash dividends on common stock ($.260 per share)								(28,858		)										(28,858		)
Cash dividends on preferred stock ($.375 per depositary share)								(2,250		)										(2,250		)
Balance March 31, 2019	$	144,784	$	559,432	$	2,074,912		$	307,193		$	(60,547	)	$	11,981		$	5,458		$	3,043,213
Balance December 31, 2017	$	144,784	$	535,407	$	1,815,360		$	221,374		$	(14,473	)	$	14,108		$	1,624		$	2,718,184
Adoption of ASU 2018-02								(2,932		)				2,932						—
Adoption of ASU 2016-01								33,320						(33,320		)				—
Net income								100,984									1,077			102,061
Other comprehensive loss														(73,283		)				(73,283		)
Distributions to non-controlling interest																	(95		)	(95		)
Purchases of treasury stock											(17,067		)							(17,067		)
Issuance of stock under purchase and equity compensation plans					(15,865		)				15,859									(6		)
Stock-based compensation					3,290															3,290
Cash dividends on common stock ($.224 per share)								(25,106		)										(25,106		)
Cash dividends on preferred stock ($.375 per depositary share)								(2,250		)										(2,250		)
Balance March 31, 2018	$	144,784	$	535,407	$	1,802,785		$	325,390		$	(15,681	)	$	(89,563	)	$	2,606		$	2,705,728

See accompanying notes to consolidated financial statements.

6

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the Three Months Ended March 31
(In thousands)	2019			2018
	(Unaudited)
OPERATING ACTIVITIES:
Net income	$	97,055		$	102,061
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	12,463			10,396
Provision for depreciation and amortization	9,966			9,620
Amortization of investment security premiums, net	9,998			7,233
Investment securities (gains) losses, net (A)	925			(5,410		)
Net gains on sales of loans held for sale	(1,929		)	(1,147		)
Originations of loans held for sale	(46,454		)	(44,066		)
Proceeds from sales of loans held for sale	48,506			49,255
Net (increase) decrease in trading debt securities	4,632			(18,543		)
Stock-based compensation	3,480			3,290
(Increase) decrease in interest receivable	(1,568		)	744
Increase (decrease) in interest payable	2,708			(732		)
Increase in income taxes payable	20,479			22,076
Other changes, net	(18,080		)	9,212
Net cash provided by operating activities	142,181			143,989
INVESTING ACTIVITIES:
Proceeds from sales of investment securities (A)	150,756			148,652
Proceeds from maturities/pay downs of investment securities (A)	252,824			358,690
Purchases of investment securities (A)	(432,645		)	(298,554		)
Net decrease in loans	7,758			78,838
Purchases of premises and equipment	(11,283		)	(4,982		)
Sales of premises and equipment	1,268			718
Net cash provided by (used in) investing activities	(31,322		)	283,362
FINANCING ACTIVITIES:
Net increase (decrease) in non-interest bearing, savings, interest checking and money market deposits	(620,589		)	54,986
Net increase (decrease) in certificates of deposit	218,161			(9,961		)
Net decrease in federal funds purchased and securities sold under agreements to repurchase	(233,638		)	(374,809		)
Repayment of long-term borrowings	(54		)	(74		)
Net increase (decrease) in short-term borrowings	(6,736		)	7,530
Purchases of treasury stock	(39,699		)	(17,067		)
Issuance of stock under equity compensation plans	(4		)	(6		)
Cash dividends paid on common stock	(28,858		)	(25,106		)
Cash dividends paid on preferred stock	(2,250		)	(2,250		)
Net cash used in financing activities	(713,667		)	(366,757		)
Increase (decrease) in cash, cash equivalents and restricted cash	(602,808		)	60,594
Cash, cash equivalents and restricted cash at beginning of year	1,209,240			524,352
Cash, cash equivalents and restricted cash at March 31	$	606,432		$	584,946
Income tax payments, net	$	1,350		$	147
Interest paid on deposits and borrowings	$	21,668		$	13,835
Loans transferred to foreclosed real estate	$	54		$	1,028

(A) Available for sale debt securities, equity securities, and other securities.

See accompanying notes to consolidated financial statements.

Restricted cash is comprised of cash collateral posted by the Company to secure interest rate swap agreements. This balance is included in other assets in the consolidated balance sheets and totaled $12.1 million and $10.2 million at March 31, 2019 and 2018, respectively.

7

Commerce Bancshares, Inc. and Subsidiaries

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2019(Unaudited)

1. Principles of Consolidation and Presentation

The accompanying consolidated financial statements include the accounts of Commerce Bancshares, Inc. and all majority-owned subsidiaries (the Company). Most of the Company's operations are conducted by its subsidiary bank, Commerce Bank (the Bank). The consolidated financial statements in this report have not been audited by an independent registered public accounting firm, but in the opinion of management, all adjustments necessary to present fairly the financial position and the results of operations for the interim periods have been made. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications were made to 2018 data to conform to current year presentation. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. Management has evaluated subsequent events for potential recognition or disclosure. The results of operations for the three month period ended March 31, 2019 are not necessarily indicative of results to be attained for the full year or any other interim period.

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's most recent Annual Report on Form 10-K, containing the latest audited consolidated financial statements and notes thereto.

2. Loans and Allowance for Loan Losses

Major classifications within the Company’s held for investment loan portfolio at March 31, 2019 and December 31, 2018 are as follows:

(In thousands)	March 31, 2019		December 31, 2018
Commercial:
Business	$	5,175,541	$	5,106,427
Real estate – construction and land	925,269		869,659
Real estate – business	2,859,614		2,875,788
Personal Banking:
Real estate – personal	2,125,087		2,127,083
Consumer	1,893,212		1,955,572
Revolving home equity	364,010		376,399
Consumer credit card	772,396		814,134
Overdrafts	5,593		15,236
Total loans	$	14,120,722	$	14,140,298

At March 31, 2019, loans of $3.8 billion were pledged at the Federal Home Loan Bank as collateral for borrowings and letters of credit obtained to secure public deposits. Additional loans of $1.6 billion were pledged at the Federal Reserve Bank as collateral for discount window borrowings.

8

Allowance for loan losses    

A summary of the activity in the allowance for loan losses during the three months ended March 31, 2019 and 2018, respectively, follows:

	For the Three Months Ended March 31
(In thousands)	Commercial			Personal Banking		Total
Balance at January 1	$	92,869		$	67,063	$	159,932
Provision	1,168			11,295		12,463
Deductions:
Loans charged off	527			14,204		14,731
Less recoveries on loans	133			2,885		3,018
Net loan charge-offs	394			11,319		11,713
Balance March 31, 2019	$	93,643		$	67,039	$	160,682
Balance at January 1	$	93,704		$	65,828	$	159,532
Provision	(894		)	11,290		10,396
Deductions:
Loans charged off	366			13,365		13,731
Less recoveries on loans	621			2,714		3,335
Net loan charge-offs (recoveries)	(255		)	10,651		10,396
Balance March 31, 2018	$	93,065		$	66,467	$	159,532

The following table shows the balance in the allowance for loan losses and the related loan balance at March 31, 2019 and December 31, 2018, disaggregated on the basis of impairment methodology. Impaired loans evaluated under Accounting Standards Codification (ASC) 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans deemed to have similar risk characteristics, which are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.

	Impaired Loans				All Other Loans
(In thousands)	Allowance for Loan Losses		Loans Outstanding		Allowance for Loan Losses		Loans Outstanding
March 31, 2019
Commercial	$	1,720	$	66,739	$	91,923	$	8,893,685
Personal Banking	923		17,433		66,116		5,142,865
Total	$	2,643	$	84,172	$	158,039	$	14,036,550
December 31, 2018
Commercial	$	1,780	$	61,496	$	91,089	$	8,790,378
Personal Banking	916		17,120		66,147		5,271,304
Total	$	2,696	$	78,616	$	157,236	$	14,061,682

Impaired loans

The table below shows the Company’s investment in impaired loans at March 31, 2019 and December 31, 2018. These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section below.

(In thousands)	Mar. 31, 2019		Dec. 31, 2018
Non-accrual loans	$	12,167	$	12,536
Restructured loans (accruing)	72,005		66,080
Total impaired loans	$	84,172	$	78,616

9

The following table provides additional information about impaired loans held by the Company at March 31, 2019 and December 31, 2018, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
March 31, 2019
With no related allowance recorded:
Business	$	8,381	$	14,376	$	—
	$	8,381	$	14,376	$	—
With an allowance recorded:
Business	$	46,736	$	46,873	$	1,241
Real estate – construction and land	414		419		11
Real estate – business	11,208		11,809		468
Real estate – personal	4,380		5,902		243
Consumer	5,365		5,365		34
Revolving home equity	39		39		1
Consumer credit card	7,649		7,649		645
	$	75,791	$	78,056	$	2,643
Total	$	84,172	$	92,432	$	2,643
December 31, 2018
With no related allowance recorded:
Business	$	8,725	$	14,477	$	—
	$	8,725	$	14,477	$	—
With an allowance recorded:
Business	$	40,286	$	40,582	$	1,223
Real estate – construction and land	416		421		11
Real estate – business	12,069		12,699		546
Real estate – personal	4,461		6,236		266
Consumer	5,510		5,510		38
Revolving home equity	40		40		1
Consumer credit card	7,109		7,109		611
	$	69,891	$	72,597	$	2,696
Total	$	78,616	$	87,074	$	2,696

Total average impaired loans for the three month periods ended March 31, 2019 and 2018, respectively, are shown in the table below.

(In thousands)	Commercial		Personal Banking		Total
Average Impaired Loans:
For the three months ended March 31, 2019
Non-accrual loans	$	10,347	$	1,973	$	12,320
Restructured loans (accruing)	53,607		15,437		69,044
Total	$	63,954	$	17,410	$	81,364
For the three months ended March 31, 2018
Non-accrual loans	$	8,523	$	2,928	$	11,451
Restructured loans (accruing)	79,258		18,773		98,031
Total	$	87,781	$	21,701	$	109,482

10

The table below shows interest income recognized during the three month periods ended March 31, 2019 and 2018, respectively, for impaired loans held at the end of each period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section below.

	For the Three Months Ended March 31
(In thousands)	2019		2018
Interest income recognized on impaired loans:
Business	$	1,008	$	760
Real estate – construction and land	6		24
Real estate – business	151		113
Real estate – personal	35		111
Consumer	80		80
Revolving home equity	1		2
Consumer credit card	146		128
Total	$	1,427	$	1,218

Delinquent and non-accrual loans

The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at March 31, 2019 and December 31, 2018.

(In thousands)	Current or Less Than 30 Days Past Due		30 – 89 Days Past Due		90 Days Past Due and Still Accruing		Non-accrual		Total
March 31, 2019
Commercial:
Business	$	5,154,124	$	12,178	$	670	$	8,569	$	5,175,541
Real estate – construction and land	924,028		1,237		—		4		925,269
Real estate – business	2,844,335		13,412		121		1,746		2,859,614
Personal Banking:
Real estate – personal	2,113,316		7,335		2,588		1,848		2,125,087
Consumer	1,866,038		24,905		2,269		—		1,893,212
Revolving home equity	362,373		1,167		470		—		364,010
Consumer credit card	751,639		10,220		10,537		—		772,396
Overdrafts	5,315		278		—		—		5,593
Total	$	14,021,168	$	70,732	$	16,655	$	12,167	$	14,120,722
December 31, 2018
Commercial:
Business	$	5,086,912	$	10,057	$	473	$	8,985	$	5,106,427
Real estate – construction and land	867,692		1,963		—		4		869,659
Real estate – business	2,867,347		6,704		22		1,715		2,875,788
Personal Banking:
Real estate – personal	2,118,045		6,041		1,165		1,832		2,127,083
Consumer	1,916,320		35,608		3,644		—		1,955,572
Revolving home equity	374,830		875		694		—		376,399
Consumer credit card	792,334		11,140		10,660		—		814,134
Overdrafts	14,937		299		—		—		15,236
Total	$	14,038,417	$	72,687	$	16,658	$	12,536	$	14,140,298

Credit quality

The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is applied to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a

11

transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.

Commercial Loans
(In thousands)	Business		Real  Estate-Construction		Real Estate- Business		Total
March 31, 2019
Pass	$	4,954,297	$	876,805	$	2,761,215	$	8,592,317
Special mention	119,582		47,397		49,151		216,130
Substandard	93,093		1,063		47,502		141,658
Non-accrual	8,569		4		1,746		10,319
Total	$	5,175,541	$	925,269	$	2,859,614	$	8,960,424
December 31, 2018
Pass	$	4,915,042	$	866,527	$	2,777,374	$	8,558,943
Special mention	84,391		1,917		51,845		138,153
Substandard	98,009		1,211		44,854		144,074
Non-accrual	8,985		4		1,715		10,704
Total	$	5,106,427	$	869,659	$	2,875,788	$	8,851,874

The credit quality of Personal Banking loans is monitored primarily on the basis of aging/delinquency, and this information is provided in the table in the above section on "Delinquent and non-accrual loans". In addition, FICO scores are obtained and updated on a quarterly basis for most of the loans in the Personal Banking portfolio. This is a published credit score designed to measure the risk of default by taking into account various factors from a borrower's financial history. The Bank normally obtains a FICO score at the loan's origination and renewal dates, and updates are obtained on a quarterly basis. Excluded from the table below are certain personal real estate loans for which FICO scores are not obtained because the loans generally pertain to commercial customer activities and are often underwritten with other collateral considerations. These loans totaled $196.4 million at March 31, 2019 and $201.7 million at December 31, 2018. The table also excludes consumer loans related to the Company's patient healthcare loan program, which totaled $167.2 million at March 31, 2019 and $170.3 million at December 31, 2018. As the healthcare loans are guaranteed by the hospital, customer FICO scores are not obtained for these loans. The personal real estate loans and consumer loans excluded below totaled less than 8% of the Personal Banking portfolio. For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at March 31, 2019 and December 31, 2018 by FICO score.

Personal Banking Loans
	% of Loan Category
	Real Estate - Personal		Consumer		Revolving Home Equity		Consumer Credit Card
March 31, 2019
FICO score:
Under 600	1.1	%	3.4	%	1.2	%	5.4	%
600 - 659	1.7		5.3		1.9		14.0
660 - 719	9.9		18.0		9.5		35.6
720 - 779	25.3		24.3		22.8		26.3
780 and over	62.0		49.0		64.6		18.7
Total	100.0	%	100.0	%	100.0	%	100.0	%
December 31, 2018
FICO score:
Under 600	1.1	%	3.1	%	0.8	%	4.4	%
600 - 659	1.8		4.8		1.7		14.0
660 - 719	9.4		16.1		9.1		34.8
720 - 779	24.7		25.7		24.0		26.4
780 and over	63.0		50.3		64.4		20.4
Total	100.0	%	100.0	%	100.0	%	100.0	%

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Troubled debt restructurings

As mentioned previously, the Company's impaired loans include loans which have been classified as troubled debt restructurings, as shown in the table below. Restructured loans are those extended to borrowers who are experiencing financial difficulty and who have been granted a concession. Restructured loans are placed on non-accrual status if the Company does not believe it probable that amounts due under the contractual terms will be collected. Commercial performing restructured loans are primarily comprised of certain business, construction and business real estate loans classified as substandard, but renewed at rates judged to be non- market. These loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. Troubled debt restructurings also include certain credit card and other small consumer loans under various debt management and assistance programs. Modifications to these loans generally involve removing the available line of credit, placing loans on amortizing status, and lowering the contractual interest rate. The Company also classified as consumer bankruptcy certain personal real estate, revolving home equity, and consumer loans as troubled debt restructurings because they were not reaffirmed by the borrower in bankruptcy proceedings. Interest on these loans is being recognized on an accrual basis, as the borrowers are continuing to make payments. Other consumer loans classified as troubled debt restructurings consist of various other workout arrangements with consumer customers.

(In thousands)		March 31, 2019		December 31, 2018
Accruing restructured loans:
	Commercial	$	56,524	$	50,904
	Assistance programs	7,960		7,410
	Consumer bankruptcy	3,946		4,103
	Other consumer	3,575		3,663
Non-accrual loans		9,352		9,759
Total troubled debt restructurings		$	81,357	$	75,839

The table below shows the balance of troubled debt restructurings by loan classification at March 31, 2019, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.

(In thousands)	March 31, 2019		Balance 90 days past due at any time during previous 12 months
Commercial:
Business	$	54,928	$	—
Real estate - construction and land	411		—
Real estate - business	9,462		—
Personal Banking:
Real estate - personal	3,503		217
Consumer	5,365		47
Revolving home equity	39		—
Consumer credit card	7,649		685
Total troubled debt restructurings	$	81,357	$	949

For those loans on non-accrual status also classified as restructured, the modification did not create any further financial effect on the Company as those loans were already recorded at net realizable value. For those performing commercial loans classified as restructured, there were no concessions involving forgiveness of principal or interest and, therefore, there was no financial impact to the Company as a result of modification to these loans. No financial impact resulted from those performing loans where the debt was not reaffirmed in bankruptcy, as no changes to loan terms occurred in that process. However, the effects of modifications to loans under various debt management and assistance programs were estimated to decrease interest income by approximately $1.0 million on an annual, pre-tax basis, compared to amounts contractually owed. Other modifications to consumer loans mainly involve extensions and other small modifications that did not include the forgiveness of principal or interest.

The allowance for loan losses related to troubled debt restructurings on non-accrual status is determined by individual evaluation, including collateral adequacy, using the same process as loans on non-accrual status which are not classified as troubled debt restructurings. Those performing loans classified as troubled debt restructurings are accruing loans which management expects to collect under contractual terms. Performing commercial loans having no other concessions granted other than being renewed at

13

non-market interest rates are judged to have similar risk characteristics as non-troubled debt commercial loans and are collectively evaluated based on internal risk rating, loan type, delinquency, historical experience and current economic factors. Performing personal banking loans classified as troubled debt restructurings resulted from the borrower not reaffirming the debt during bankruptcy and have had no other concession granted, other than the Bank's future limitations on collecting payment deficiencies or in pursuing foreclosure actions. As such, they have similar risk characteristics as non-troubled debt personal banking loans and are evaluated collectively based on loan type, delinquency, historical experience and current economic factors.

If a troubled debt restructuring defaults and is already on non-accrual status, the allowance for loan losses continues to be based on individual evaluation, using discounted expected cash flows or the fair value of collateral. If an accruing troubled debt restructuring defaults, the loan's risk rating is downgraded to non-accrual status and the loan's related allowance for loan losses is determined based on individual evaluation, or if necessary, the loan is charged off and collection efforts begun.

The Company had commitments of $2.7 million at March 31, 2019 to lend additional funds to borrowers with restructured loans.

Loans held for sale

The Company designates certain long-term fixed rate personal real estate loans as held for sale, and the Company has elected the fair value option for these loans. The election of the fair value option aligns the accounting for these loans with the related economic hedges discussed in Note 11. The loans are primarily sold to FNMA, FHLMC, and GNMA. At March 31, 2019, the fair value of these loans was $8.9 million, and the unpaid principal balance was $8.5 million.

The Company also designates certain student loan originations as held for sale. The borrowers are credit-worthy students who are attending colleges and universities. The loans are intended to be sold in the secondary market, and the Company maintains contracts with Sallie Mae to sell the loans within 210 days after the last disbursement to the student. These loans are carried at lower of cost or fair value, which at March 31, 2019 totaled $11.2 million.

At March 31, 2019, none of the loans held for sale were on non-accrual status or 90 days past due and still accruing.

Foreclosed real estate/repossessed assets

The Company’s holdings of foreclosed real estate totaled $737 thousand and $1.4 million at March 31, 2019 and December 31, 2018, respectively. Personal property acquired in repossession, generally autos, marine and recreational vehicles (RV), totaled $2.6 million and $2.0 million at March 31, 2019 and December 31, 2018, respectively. Upon acquisition, these assets are recorded at fair value less estimated selling costs at the date of foreclosure, establishing a new cost basis. They are subsequently carried at the lower of this cost basis or fair value less estimated selling costs.

3. Investment Securities

Investment securities consisted of the following at March 31, 2019 and December 31, 2018.

(In thousands)	March 31, 2019		December 31, 2018
Available for sale debt securities	$	8,627,890	$	8,538,041
Trading debt securities	30,427		27,059
Equity securities:
Readily determinable fair value	2,808		2,585
No readily determinable fair value	1,886		1,824
Other:
Federal Reserve Bank stock	33,627		33,498
Federal Home Loan Bank stock	10,000		10,000
Private equity investments	85,877		85,659
Total investment securities	$	8,792,515	$	8,698,666

The Company has elected to measure equity securities with no readily determinable fair value at cost minus impairment, if any, plus or minus changes resulting from observable price changes for the identical or similar investment of the same issuer. The Company did not record any impairment or other adjustments to the carrying amount of these investments during the period.

Other investment securities include Federal Reserve Bank (FRB) stock, Federal Home Loan Bank (FHLB) stock, and investments in portfolio concerns held by the Company's private equity subsidiaries. FRB stock and FHLB stock are held for debt and regulatory purposes. Investment in FRB stock is based on the capital structure of the investing bank, and investment in FHLB

14

stock is tied to the level of borrowings from the FHLB. These holdings are carried at cost. The private equity investments, in the absence of readily ascertainable market values, are carried at estimated fair value.

The majority of the Company’s investment portfolio is comprised of available for sale debt securities, which are carried at fair value with changes in fair value reported in accumulated other comprehensive income (AOCI). A summary of the available for sale debt securities by maturity groupings as of March 31, 2019 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, GNMA and FDIC, in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by commercial and residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral.

(In thousands)	Amortized Cost		Fair Value
U.S. government and federal agency obligations:
Within 1 year	$	29,484	$	29,341
After 1 but within 5 years	588,651		597,792
After 5 but within 10 years	249,143		250,788
Total U.S. government and federal agency obligations	867,278		877,921
Government-sponsored enterprise obligations:
Within 1 year	36,442		36,176
After 1 but within 5 years	85,155		84,759
After 5 but within 10 years	34,986		34,974
After 10 years	42,913		42,070
Total government-sponsored enterprise obligations	199,496		197,979
State and municipal obligations:
Within 1 year	87,817		88,067
After 1 but within 5 years	663,990		675,122
After 5 but within 10 years	440,363		454,085
After 10 years	56,231		56,926
Total state and municipal obligations	1,248,401		1,274,200
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,416,497		3,412,399
Non-agency mortgage-backed securities	1,056,738		1,060,008
Asset-backed securities	1,470,541		1,470,516
Total mortgage and asset-backed securities	5,943,776		5,942,923
Other debt securities:
Within 1 year	22,497		22,412
After 1 but within 5 years	245,030		244,892
After 5 but within 10 years	67,995		67,563
Total other debt securities	335,522		334,867
Total available for sale debt securities	$	8,594,473	$	8,627,890

Investments in U.S. government and federal agency obligations include U.S. Treasury inflation-protected securities, which totaled $446.9 million, at fair value, at March 31, 2019. Interest paid on these securities increases with inflation and decreases with deflation, as measured by the Consumer Price Index. Included in state and municipal obligations are $14.5 million, at fair value, of auction rate securities, which were purchased from bank customers in 2008. Interest on these bonds is currently being paid at the maximum failed auction rates.

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For debt securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in AOCI, by security type.

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2019
U.S. government and federal agency obligations	$	867,278	$	11,844	$	(1,201	)	$	877,921
Government-sponsored enterprise obligations	199,496		258		(1,775		)	197,979
State and municipal obligations	1,248,401		26,485		(686		)	1,274,200
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,416,497		19,977		(24,075		)	3,412,399
Non-agency mortgage-backed securities	1,056,738		9,833		(6,563		)	1,060,008
Asset-backed securities	1,470,541		5,536		(5,561		)	1,470,516
Total mortgage and asset-backed securities	5,943,776		35,346		(36,199		)	5,942,923
Other debt securities	335,522		645		(1,300		)	334,867
Total	$	8,594,473	$	74,578	$	(41,161	)	$	8,627,890
December 31, 2018
U.S. government and federal agency obligations	$	914,486	$	4,545	$	(11,379	)	$	907,652
Government-sponsored enterprise obligations	199,470		55		(3,747		)	195,778
State and municipal obligations	1,322,785		10,284		(5,030		)	1,328,039
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,253,433		9,820		(48,268		)	3,214,985
Non-agency mortgage-backed securities	1,053,854		6,641		(12,779		)	1,047,716
Asset-backed securities	1,518,976		3,849		(11,211		)	1,511,614
Total mortgage and asset-backed securities	5,826,263		20,310		(72,258		)	5,774,315
Other debt securities	339,595		72		(7,410		)	332,257
Total	$	8,602,599	$	35,266	$	(99,824	)	$	8,538,041

The Company’s impairment policy requires a review of all securities for which fair value is less than amortized cost. Special emphasis and analysis is placed on securities whose credit rating has fallen below Baa3 (Moody's) or BBB- (Standard & Poor's), whose fair values have fallen more than 20% below purchase price for an extended period of time, or who have been identified based on management’s judgment. These securities are placed on a watch list, and for all such securities, cash flow analyses are prepared. For more complex analyses, detailed cash flow models are prepared which use inputs specific to each security. Inputs to these models include factors such as cash flow received, contractual payments required, and various other information related to the underlying collateral (including current delinquencies), collateral loss severity rates (including loan to values), expected delinquency rates, credit support from other tranches, and prepayment speeds. Stress tests are performed at varying levels of delinquency rates, prepayment speeds and loss severities in order to gauge probable ranges of credit loss. At March 31, 2019, the fair value of securities on this watch list was $55.0 million compared to $57.7 million at December 31, 2018.

As of March 31, 2019, the Company had recorded other-than-temporary impairment (OTTI) on certain non-agency mortgage-backed securities with a current par value of $22.2 million. These securities, which are part of the watch list mentioned above, had an aggregate fair value of $17.3 million at March 31, 2019. The cumulative credit-related portion of the impairment on these securities, which was recorded in earnings, totaled $14.1 million. The Company does not intend to sell these securities and believes it is not likely that it will be required to sell the securities before the recovery of their amortized cost.

The credit-related portion of the loss on these securities was based on the cash flows projected to be received over the estimated life of the securities, discounted to present value, and compared to the current amortized cost bases of the securities. Significant inputs to the cash flow models used to calculate the credit losses on these securities at March 31, 2019 included the following:

Significant Inputs	Range
Prepayment CPR	0%	-	37%
Projected cumulative default	8%	-	50%
Credit support	0%	-	20%
Loss severity	11%	-	63%

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The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings on all available for sale debt securities.

	For the Three Months Ended March 31
(In thousands)	2019			2018
Cumulative OTTI credit losses at January 1	$	14,092		$	14,199
Credit losses on debt securities for which impairment was not previously recognized	—			58
Credit losses on debt securities for which impairment was previously recognized	—			10
Increase in expected cash flows that are recognized over remaining life of security	(33		)	(54		)
Cumulative OTTI credit losses at March 31	$	14,059		$	14,213

Debt securities with unrealized losses recorded in AOCI are shown in the table below, along with the length of the impairment period.

	Less than 12 months				12 months or longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
March 31, 2019
U.S. government and federal agency obligations	$	3,200	$	26	$	114,835	$	1,175	$	118,035	$	1,201
Government-sponsored enterprise obligations	34,974		12		139,959		1,763		174,933		1,775
State and municipal obligations	13,907		3		110,737		683		124,644		686
Mortgage and asset-backed securities:
Agency mortgage-backed securities	156,031		326		1,706,133		23,749		1,862,164		24,075
Non-agency mortgage-backed securities	47,338		41		639,311		6,522		686,649		6,563
Asset-backed securities	219,611		931		726,118		4,630		945,729		5,561
Total mortgage and asset-backed securities	422,980		1,298		3,071,562		34,901		3,494,542		36,199
Other debt securities	35,967		32		170,424		1,268		206,391		1,300
Total	$	511,028	$	1,371	$	3,607,517	$	39,790	$	4,118,545	$	41,161
December 31, 2018
U.S. government and federal agency obligations	$	317,699	$	6,515	$	116,728	$	4,864	$	434,427	$	11,379
Government-sponsored enterprise obligations	—		—		188,846		3,747		188,846		3,747
State and municipal obligations	157,838		704		257,051		4,326		414,889		5,030
Mortgage and asset-backed securities:
Agency mortgage-backed securities	330,933		1,502		1,927,268		46,766		2,258,201		48,268
Non-agency mortgage-backed securities	207,506		1,085		657,685		11,694		865,191		12,779
Asset-backed securities	147,997		728		813,427		10,483		961,424		11,211
Total mortgage and asset-backed securities	686,436		3,315		3,398,380		68,943		4,084,816		72,258
Other debt securities	51,836		564		260,682		6,846		312,518		7,410
Total	$	1,213,809	$	11,098	$	4,221,687	$	88,726	$	5,435,496	$	99,824

Theavailable for sale debt portfolio included $4.1 billion of securities that were in a loss position at March 31, 2019, compared to $5.4 billion at December 31, 2018.  The total amount of unrealized loss on these securities was $41.2 million at March 31, 2019, a decrease of $58.7 million compared to the loss at December 31, 2018.  This decrease in losses was mainly due to a declining interest rate environment at March 31, 2019. 

17

The following tables present proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings.

	For the Three Months Ended March 31
(In thousands)	2019			2018
Proceeds from sales of securities:
Available for sale debt securities	$	150,756		$	148,637
Equity securities	—			15
Total proceeds	$	150,756		$	148,652
Investment securities gains (losses), net:
Available for sale debt securities:
Gains realized on sales	$	1,386		$	212
Losses realized on sales	(692		)	—
Other-than-temporary impairment recognized on debt securities	—			(68		)
Equity securities:
Gains realized on sales	—			14
Fair value adjustments, net	223			947
Other:
Fair value adjustments, net	(1,842		)	4,305
Total investment securities gains (losses), net	$	(925	)	$	5,410

Net gains and losses on investment securities for the three months ended March 31, 2019 included losses in fair value of $1.8 million on private equity investments, gains of $223 thousand on equity securities, and net gains of $694 thousand realized on sales of available for sale securities.

At March 31, 2019, securities totaling $4.0 billion in fair value were pledged to secure public fund deposits, securities sold under agreements to repurchase, trust funds, and borrowings at the FRB and FHLB. Securities pledged under agreements pursuant to which the collateral may be sold or re-pledged by the secured parties approximated $312.3 million, while the remaining securities were pledged under agreements pursuant to which the secured parties may not sell or re-pledge the collateral. Except for obligations of various government-sponsored enterprises such as FNMA, FHLB and FHLMC, no investment in a single issuer exceeded 10% of stockholders’ equity.

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4. Goodwill and Other Intangible Assets

The following table presents information about the Company's intangible assets which have estimable useful lives.

	March 31, 2019										December 31, 2018
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount		Gross Carrying Amount		Accumulated Amortization			Valuation Allowance		Net Amount
Amortizable intangible assets:
Core deposit premium	$	31,270	$	(29,100	)	$	—		$	2,170	$	31,270	$	(28,954	)	$	—	$	2,316
Mortgage servicing rights	10,658		(4,057		)	(260		)	6,341		10,339		(3,861		)	—		6,478
Total	$	41,928	$	(33,157	)	$	(260	)	$	8,511	$	41,609	$	(32,815	)	$	—	$	8,794

Aggregate amortization expense on intangible assets was $342 thousand and $321 thousand for the three month periods ended March 31, 2019 and 2018, respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of March 31, 2019. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.

(In thousands)
2019	$	1,381
2020	1,215
2021	1,032
2022	882
2023	736

Changes in the carrying amount of goodwill and net other intangible assets for the three month period endedMarch 31, 2019 are as follows:

(In thousands)	Goodwill		Core Deposit Premium			Mortgage Servicing Rights
Balance January 1, 2019	$	138,921	$	2,316		$	6,478
Originations	—		—			319
Amortization	—		(146		)	(196		)
Impairment	—		—			(260		)
Balance March 31, 2019	$	138,921	$	2,170		$	6,341

Goodwill allocated to the Company’s operating segments at March 31, 2019 and December 31, 2018 is shown below.

(In thousands)
Consumer segment	$	70,721
Commercial segment	67,454
Wealth segment	746
Total goodwill	$	138,921

5. Guarantees

The Company, as a provider of financial services, routinely issues financial guarantees in the form of financial and performance standby letters of credit. Standby letters of credit are contingent commitments issued by the Company generally to guarantee the payment or performance obligation of a customer to a third party. While these represent a potential outlay by the Company, a significant amount of the commitments may expire without being drawn upon. The Company has recourse against the customer for any amount it is required to pay to a third party under a standby letter of credit. The letters of credit are subject to the same credit policies, underwriting standards and approval process as loans made by the Company. Most of the standby letters of credit are secured, and in the event of nonperformance by customers, the Company has rights to the underlying collateral, which could include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities.

Upon issuance of standby letters of credit, the Company recognizes a liability for the fair value of the obligation undertaken, which is estimated to be equivalent to the amount of fees received from the customer over the life of the agreement. At March 31, 2019, that net liability was $2.2 million, which will be accreted into income over the remaining life of the respective commitments. The contractual amount of these letters of credit, which represents the maximum potential future payments guaranteed by the Company, was $325.6 million at March 31, 2019.

19

The Company periodically enters into credit risk participation agreements (RPAs) as a guarantor to other financial institutions, in order to mitigate those institutions’ credit risk associated with interest rate swaps with third parties. The RPA stipulates that, in the event of default by the third party on the interest rate swap, the Company will reimburse a portion of the loss borne by the financial institution. These interest rate swaps are normally collateralized (generally with real property, inventories and equipment) by the third party, which limits the credit risk associated with the Company’s RPAs. The third parties usually have other borrowing relationships with the Company. The Company monitors overall borrower collateral and at March 31, 2019, believes sufficient collateral is available to cover potential swap losses. The RPAs are carried at fair value throughout their term with all changes in fair value, including those due to a change in the third party’s creditworthiness, recorded in current earnings. The terms of the RPAs, which correspond to the terms of the underlying swaps, range from 2 to 11 years. At March 31, 2019, the fair value of the Company's guarantee liabilities for RPAs was $110 thousand, and the notional amount of the underlying swaps was $86.6 million. The maximum potential future payment guaranteed by the Company cannot be readily estimated but is dependent upon the fair value of the interest rate swaps at the time of default.

6. Leases

The Company adopted ASU 2016-02, "Leases", and its related amendments on January 1, 2019 using a modified retrospective approach. The Company's leasing activities include leasing certain real estate and equipment, providing lease financing to commercial customers, and leasing office space to third parties. The Company adopted the package of practical expedients permitted within the new standard, along with the lease component expedient for all lease classes and the disclosure expedient. The Company uses the FHLB fixed-advance rate at lease commencement or remeasurement event based on the remaining lease term to calculate the liability for each lease.

Lessee

The Company primarily has operating leases for branches, office space, ATM locations, and certain equipment. As of March 31, 2019, the right-of-use asset, reported within premises and equipment, net, and lease liability, reported within other liabilities, recognized on the Company's consolidated balance sheets totaled $27.1 million and $27.8 million, respectively. For leases with a term of 12 months or less, an election was made not to recognize lease assets and lease liabilities for all asset classes, and to recognize lease expense for these leases on a straight-line basis over the lease term. Total lease cost for the three months ended March 31, 2019 was $1.8 million. The Company's leases have remaining terms of 1 year to 35 years, most of which contain renewal options. However, the renewal options are generally not included in the leased asset or liability because exercising the options are uncertain.

The maturities of operating leases are included in the table below.

(in thousands)	Operating Leases(a)
2019 (excluding the three months ended March 31, 2019)	$	4,279
2020	5,034
2021	4,203
2022	3,725
2023	3,406
After 2023	14,878
Total lease payments	$	35,525
Less: Interest(b)	7,719
Present value of lease liabilities	$	27,806

(a) Excludes $2.1 million of legally binding minimum lease payments for operating leases signed but not yet commenced.

(b) Calculated using the interest rate for each lease.

The following table presents the average lease term and discount rate of operating leases.

	March 31, 2019
Weighted-average remaining lease term	12.1 years
Weighted-average discount rate	3.76	%

20

Supplemental cash flow information related to operating leases is included in the table below.

	For the Three Months Ended March 31
(in thousands)	2019
Operating cash paid toward lease liabilities	$	1,491
Leased assets obtained in exchange for new lease liabilities	$	1,022

The Company adopted the new lease standard using the effective date as the date of initial application as noted above, and as required, the table below provides the disclosure for periods prior to adoption. Future minimum lease payments as of December 31, 2018 are shown below, which include leases that have not yet commenced.

(in thousands)
Year Ended December 31	Total
2019	$	5,763
2020	4,817
2021	4,055
2022	3,598
2023	3,273
After	15,161
Total minimum lease payments	$	36,667

Lessor

The Company has net investments in direct financing and sales-type leases to commercial, industrial, and tax-exempt entities. These leases are included within business loans on the Company's consolidated balance sheets. The Company primarily leases various types of equipment, trucks and trailers, and office furniture and fixtures. Lease agreements may include options to renew or for the lessee to purchase the leased equipment at the end of the lease term. The Company has elected to adopt the lease component expedient in which the lease and nonlease components are combined into the total lease receivable. The Company also leases office space in buildings owned by the Company to third parties and are classified as operating leases. The leases may include options to expand the leased space or renew the lease, and currently the leases have remaining terms of 1 year to 9 years.

The following table provides the components of lease income.

	For the Three Months Ended March 31
(in thousands)	2019
Direct financing and sales-type leases	5,862
Operating leases(a)	1,906
Total lease income	$	7,768

(a) Includes rent of $19 thousand from Tower Properties Company, a related party.

The following table presents the components of the net investments in direct financing and sales-type leases.

(in thousands)	March 31, 2019
Lease payment receivable	$	716,103
Unguaranteed residual assets	49,347
Total net investments in direct financing and sales-type leases	$	765,450
Deferred origination cost	3,071
Total net investment included within business loans	$	768,521

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The maturities of lease receivables are included in the table below.

(in thousands)	Direct Financing and Sale-Type Leases		Operating Leases		Total
2019 (excluding the three months ended March 31, 2019)	$	164,086	$	5,555	$	169,641
2020	182,611		7,051		189,662
2021	139,036		6,994		146,030
2022	101,070		13,329		114,399
2023	70,967		5,127		76,094
After 2023	121,057		13,467		134,524
Total lease receipts	778,827		$	51,523	$	830,350
Less: Net present value adjustment	62,724
Present value of lease receipts	$	716,103

7. Pension

The amount of net pension cost is shown in the table below:

	For the Three Months Ended March 31
(In thousands)	2019			2018
Service cost - benefits earned during the period	$	159		$	153
Interest cost on projected benefit obligation	1,065			950
Expected return on plan assets	(1,196		)	(1,437		)
Amortization of prior service cost	(68		)	(68		)
Amortization of unrecognized net loss	586			592
Net periodic pension cost	$	546		$	190

All benefits accrued under the Company’s defined benefit pension plan have been frozen since January 1, 2011. During the first three months of 2019, the Company made no funding contributions to its defined benefit pension plan and made minimal funding contributions to a supplemental executive retirement plan (the CERP), which carries no segregated assets.

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8. Common Stock *

Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 13.

	For the Three Months Ended March 31
(In thousands, except per share data)	2019		2018
Basic income per common share:
Net income attributable to Commerce Bancshares, Inc.	$	97,138	$	100,984
Less preferred stock dividends	2,250		2,250
Net income available to common shareholders	94,888		98,734
Less income allocated to nonvested restricted stock	944		1,121
Net income allocated to common stock	$	93,944	$	97,613
Weighted average common shares outstanding	110,011		110,916
Basic income per common share	$	.85	$	.88
Diluted income per common share:
Net income available to common shareholders	$	94,888	$	98,734
Less income allocated to nonvested restricted stock	943		1,118
Net income allocated to common stock	$	93,945	$	97,616
Weighted average common shares outstanding	110,011		110,916
Net effect of the assumed exercise of stock-based awards - based on
the treasury stock method using the average market price for the respective periods	290		348
Weighted average diluted common shares outstanding	110,301		111,264
Diluted income per common share	$	.85	$	.88

Unexercised stock appreciation rights of 282 thousand and 276 thousand were excluded from the computation of diluted income per common share for the three month periods ended March 31, 2019 and 2018, respectively, because their inclusion would have been anti-dilutive.

In the Annual Meeting of the Shareholders, held on April 17, 2019, a proposal to increase the shares of Company common stock authorized for issuance under its articles of incorporation was approved. This approval increased the authorized shares from 120,000,000 to 140,000,000.

* All prior year share and per share amounts in this note have been restated for the 5% common stock dividend distributed in December 2018.

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9. Accumulated Other Comprehensive Income

The table below shows the activity and accumulated balances for components of other comprehensive income. The largest component is the unrealized holding gains and losses on available for sale debt securities. Unrealized gains and losses on debt securities for which an other-than-temporary impairment (OTTI) has been recorded in current earnings are shown separately below. Another component is the amortization from other comprehensive income of losses associated with pension benefits, which occurs as the losses are included in current net periodic pension cost. The remaining component is gains and losses in fair value on certain interest rate floors that have been designated as cash flow hedging instruments.

	Unrealized Gains (Losses) on Securities (1)						Pension Loss			Unrealized Gains (Losses) on Cash Flow Hedge Derivatives (2)			Total Accumulated Other Comprehensive Income (Loss)
(In thousands)	OTTI			Other
Balance January 1, 2019	$	3,861		$	(52,278	)	$	(23,107	)	$	6,855		$	(64,669	)
Other comprehensive income before reclassifications to current earnings	55			98,614			—			3,027			101,696
Amounts reclassified to current earnings from accumulated other comprehensive income	—			(694		)	518			678			502
Current period other comprehensive income, before tax	55			97,920			518			3,705			102,198
Income tax expense	(14		)	(24,479		)	(129		)	(926		)	(25,548		)
Current period other comprehensive income, net of tax	41			73,441			389			2,779			76,650
Balance March 31, 2019	$	3,902		$	21,163		$	(22,718	)	$	9,634		$	11,981
Balance January 1, 2018	$	3,411		$	30,326		$	(19,629	)	$	—		$	14,108
ASU 2018-02 Reclassification of tax rate change	715			6,359			(4,142		)	—			2,932
ASU 2016-01 Reclassification of unrealized gain on equity securities	—			(33,320		)	—			—			(33,320		)
Other comprehensive loss before reclassifications to current earnings	(8		)	(98,081		)	—			—			(98,089		)
Amounts reclassified to current earnings from accumulated other comprehensive income	68			(212		)	524			—			380
Current period other comprehensive income (loss), before tax	60			(98,293		)	524			—			(97,709		)
Income tax (expense) benefit	(15		)	24,572			(131		)	—			24,426
Current period other comprehensive income (loss), net of tax	45			(73,721		)	393			—			(73,283		)
Transfer of unrealized gain on securities for which impairment was not previously recognized	12			(12		)	—			—			—
Balance March 31, 2018	$	4,183		$	(70,368	)	$	(23,378	)	$	—		$	(89,563	)

(1) The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings are included in "investment securities gains (losses), net" in the consolidated statements of income.

(2) The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings are included in "interest and fees on loans" in the consolidated statements of income.

The requirement to revalue deferred tax assets and liabilities in the period of enactment stranded the effects of the tax rate change, mandated by the Tax Cuts and Jobs Act, in accumulated other comprehensive income. In response, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which the Company adopted on January 1, 2018. This ASU allowed the reclassification of the stranded tax effects from accumulated other comprehensive income (as shown in the table above) to retained earnings.

New accounting guidance, which was effective January 1, 2018, required the reclassification of unrealized gains on equity securities from accumulated other comprehensive income to retained earnings (also shown above).

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10. Segments

The Company segregates financial information for use in assessing its performance and allocating resources among three operating segments: Consumer, Commercial and Wealth. The Consumer segment consists of various consumer loan and deposit products offered through its retail branch network of approximately 170 locations.  This segment also includes indirect and other consumer loan financing businesses, along with debit and credit card loan and fee businesses.  Residential mortgage origination, sales and servicing functions are included in this Consumer segment, but residential mortgage loans retained by the Company are not considered part of this segment.  The Commercial segment provides corporate lending, leasing, and international services, along with business and governmental deposit products and commercial cash management services.  This segment includes both merchant and commercial bank card products. It also includes the Capital Markets Group which sells fixed income securities and provides safekeeping and accounting services to its business and correspondent bank customers.  The Wealth segment provides traditional trust and estate planning, advisory and discretionary investment management, and brokerage services.  This segment also provides various loan and deposit related services to its private banking customers.

The following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these changes are reflected in prior year information presented below.

(In thousands)	Consumer			Commercial			Wealth			Segment Totals			Other/Elimination			Consolidated Totals
Three Months Ended March 31, 2019
Net interest income	$	76,897		$	85,848		$	11,676		$	174,421		$	29,067		$	203,488
Provision for loan losses	(11,049		)	(618		)	33			(11,634		)	(829		)	(12,463		)
Non-interest income	29,171			47,915			44,332			121,418			(178		)	121,240
Investment securities losses, net	—			—			—			—			(925		)	(925		)
Non-interest expense	(73,508		)	(76,838		)	(30,892		)	(181,238		)	(10,187		)	(191,425		)
Income before income taxes	$	21,511		$	56,307		$	25,149		$	102,967		$	16,948		$	119,915
Three Months Ended March 31, 2018
Net interest income	$	71,021		$	82,584		$	11,445		$	165,050		$	27,842		$	192,892
Provision for loan losses	(10,373		)	180			(64		)	(10,257		)	(139		)	(10,396		)
Non-interest income	30,216			49,209			42,103			121,528			(1,838		)	119,690
Investment securities gains, net	—			—			—			—			5,410			5,410
Non-interest expense	(69,919		)	(72,778		)	(31,825		)	(174,522		)	(7,755		)	(182,277		)
Income before income taxes	$	20,945		$	59,195		$	21,659		$	101,799		$	23,520		$	125,319

The information presented above was derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. This information is based on internal management accounting procedures and methods, which have been developed to reflect the underlying economics of the businesses. The methodologies are applied in connection with funds transfer pricing and assignment of overhead costs among segments. Funds transfer pricing was used in the determination of net interest income by assigning a standard cost (credit) for funds used (provided) by assets and liabilities based on their maturity, prepayment and/or repricing characteristics.

The segment activity, as shown above, includes both direct and allocated items. Amounts in the “Other/Elimination” column include activity not related to the segments, such as that relating to administrative functions, the investment securities portfolio, and the effect of certain expense allocations to the segments. The provision for loan losses in this category contains the difference between net loan charge-offs assigned directly to the segments and the recorded provision for loan loss expense. Included in this category’s net interest income are earnings of the investment portfolio, which are not allocated to a segment.

The performance measurement of the operating segments is based on the management structure of the Company and is not necessarily comparable with similar information for any other financial institution. The information is also not necessarily indicative of the segments' financial condition and results of operations if they were independent entities.

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11. Derivative Instruments

The notional amounts of the Company’s derivative instruments are shown in the table below. These contractual amounts, along with other terms of the derivative, are used to determine amounts to be exchanged between counterparties and are not a measure of loss exposure. At March 31, 2019, with the exception of the interest rate floors (discussed below), the Company’s derivative instruments are accounted for as free-standing derivatives, and changes in their fair value are recorded in current earnings.

(In thousands)	March 31, 2019		December 31, 2018
Interest rate swaps	$	2,007,799	$	2,006,280
Interest rate floors	1,000,000		1,000,000
Interest rate caps	61,696		62,163
Credit risk participation agreements	142,266		143,460
Foreign exchange contracts	6,710		6,206
Mortgage loan commitments	22,496		14,544
Mortgage loan forward sale contracts	2,657		5,768
Forward TBA contracts	33,503		16,500
Total notional amount	$	3,277,127	$	3,254,921

The largest group of notional amounts relate to interest rate swap contracts sold to commercial customers who wish to modify their interest rate sensitivity. The customers are engaged in a variety of businesses, including real estate, manufacturing, retail product distribution, education, and retirement communities. These customer swaps are offset by matching contracts purchased by the Company from other financial dealer institutions. Contracts with dealers that require central clearing are novated to a clearing agency who becomes the Company's counterparty. Because of the matching terms of the offsetting contracts, in addition to collateral provisions which mitigate the impact of non-performance risk, changes in fair value subsequent to initial recognition have a minimal effect on earnings.

Many of the Company’s interest rate swap contracts with large financial institutions contain contingent features relating to debt ratings or capitalization levels. Under these provisions, if the Company’s debt rating falls below investment grade or if the Company ceases to be “well-capitalized” under risk-based capital guidelines, certain counterparties can require immediate and ongoing collateralization on interest rate swaps in net liability positions or instant settlement of the contracts. The Company maintains debt ratings and capital well above these minimum requirements.

As of March 31, 2019, the Company has entered into interest rate floors with a combined notional value of $1.0 billion, to hedge the risk of declining interest rates on certain floating rate commercial loans. The premiums paid for these floors totaled $20.7 million with purchased strike rates that ranged from 2.50% to 2.25%. As of March 31, 2019, the maximum length of time over which the Company is hedging its exposure to the variability in future cash flows is approximately 6.4 years, and the floors are forward starting, beginning in 2020. The interest rate floors qualified and were designated as cash flow hedges and were assessed for effectiveness using regression analysis. The change in the fair value of the interest rate floors are recorded in AOCI, net of the amortization of the premium paid, which is recorded against interest and fees on loans in the consolidated statements of income. As of March 31, 2019, net deferred gains on the interest rate floors totaled $12.8 million (pre-tax) and was recorded in AOCI in the consolidated balance sheet. As of March 31, 2019, it is expected that $2.8 million (pre-tax) of interest rate floor premium amortization will be reclassified from AOCI into earnings over the next twelve months.

In April 2019, the Company entered into an additional interest rate floor with a notional value of $500.0 million and a premium paid of $10.7 million with a purchased strike rate of 2.0%. The floor is forward starting, beginning in 2020 and matures in 2026.

The Company also contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps through risk participation agreements. The Company’s risks and responsibilities as guarantor are further discussed in Note 5 on Guarantees. In addition, the Company enters into foreign exchange contracts, which are mainly comprised of contracts to purchase or deliver foreign currencies for customers at specific future dates.

Under its program to sell residential mortgage loans in the secondary market, the Company designates certain newly-originated residential mortgage loans as held for sale. Derivative instruments arising from this activity include mortgage loan commitments and forward loan sale contracts. Changes in the fair values of the loan commitments and funded loans prior to sale that are due to changes in interest rates are economically hedged with forward contracts to sell residential mortgage-backed securities in the to-be-announced (TBA) market. These forward TBA contracts are also considered to be derivatives and are settled in cash at the security settlement date.

26

The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Information about the valuation methods used to determine fair value is provided in Note 16 on Fair Value Measurements in the 2018 Annual Report on Form 10-K.

The Company's policy is to present its derivative assets and derivative liabilities on a gross basis in its consolidated balance sheets, and these are reported in other assets and other liabilities. Effective January 2017, certain collateral posted to and from the Company's clearing counterparty has been offset against the fair values of cleared swaps, such that at March 31, 2019 in the table below, the positive fair values of cleared swaps were reduced by $3.8 million and the negative fair values of cleared swaps were reduced by $12.4 million. At December 31, 2018, the positive fair values of cleared swaps were reduced by $8.1 million and the negative fair values of cleared swaps were reduced by $6.5 million.

	Asset Derivatives				Liability Derivatives
	Mar. 31, 2019		Dec. 31, 2018		Mar. 31, 2019			Dec. 31, 2018
(In thousands)	Fair Value				Fair Value
Derivatives designated as hedging instruments:
Interest rate floors	$	32,058	$	29,031	$	—		$	—
Total derivatives designated as hedging instruments	$	32,058	$	29,031	$	—		$	—
Derivative instruments not designated as hedging instruments:
Interest rate swaps	$	18,641	$	11,537	$	(9,970	)	$	(13,110	)
Interest rate caps	8		24		(8		)	(24		)
Credit risk participation agreements	92		47		(110		)	(93		)
Foreign exchange contracts	44		20		(16		)	(8		)
Mortgage loan commitments	823		536		—			—
Mortgage loan forward sale contracts	22		15		—			(8		)
Forward TBA contracts	3		—		(196		)	(178		)
Total derivatives not designated as hedging instruments	$	19,633	$	12,179	$	(10,300	)	$	(13,421	)
Total	$	51,691	$	41,210	$	(10,300	)	$	(13,421	)

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The pre-tax effects of derivative instruments on the consolidated statements of income are shown in the tables below.

	Amount of Gain or (Loss) Recognized in OCI							Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
	For the Three Months Ended								For the Three Months Ended
	March 31, 2019								March 31, 2019
(In thousands)	Total		Included Component		Excluded Component				Total			Included Component		Excluded Component
Derivatives in cash flow hedging relationships:
Interest rate floors*	$	3,027	$	10,873	$	(7,846	)	Interest and fees on loans	$	(678	)	$	—	$	(678	)
Total	$	3,027	$	10,873	$	(7,846	)		$	(678	)	$	—	$	(678	)

* No hedging relationship existed during the three months ended March 31, 2018.

	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended March 31
(In thousands)		2019			2018
Derivative instruments:
Interest rate swaps	Other non-interest income	$	303		$	505
Credit risk participation agreements	Other non-interest income	28			164
Foreign exchange contracts	Other non-interest income	16			9
Mortgage loan commitments	Loan fees and sales	287			1
Mortgage loan forward sale contracts	Loan fees and sales	16			—
Forward TBA contracts	Loan fees and sales	(266		)	542
Total		$	384		$	1,221

The following table shows the extent to which assets and liabilities relating to derivative instruments have been offset in the consolidated balance sheets. It also provides information about these instruments which are subject to an enforceable master netting arrangement, irrespective of whether they are offset, and the extent to which the instruments could potentially be offset. Also shown is collateral received or pledged in the form of other financial instruments, which is generally cash or marketable securities. The collateral amounts in this table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus, amounts of excess collateral are not shown. Most of the derivatives in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default.

28

Collateral exchanged between the Company and dealer bank counterparties is generally subject to thresholds and transfer minimums, and usually consists of marketable securities. By contract, these may be sold or re-pledged by the secured party until recalled at a subsequent valuation date by the pledging party. For those swap transactions requiring central clearing, the Company posts cash or securities to its clearing agent. Collateral positions are valued daily, and adjustments to amounts received and pledged by the Company are made as appropriate to maintain proper collateralization for these transactions. Swap derivative transactions with customers are generally secured by rights to non-financial collateral, such as real and personal property, which is not shown in the table below.

							Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset			Collateral Received/Pledged			Net Amount
March 31, 2019
Assets:
Derivatives subject to master netting agreements	50,792		—		50,792		(4,695		)	(28,385		)	17,712
Derivatives not subject to master netting agreements	899		—		899
Total derivatives	51,691		—		51,691
Liabilities:
Derivatives subject to master netting agreements	10,203		—		10,203		(4,695		)	(199		)	5,309
Derivatives not subject to master netting agreements	97		—		97
Total derivatives	10,300		—		10,300
December 31, 2018
Assets:
Derivatives subject to master netting agreements	$	40,613	$	—	$	40,613	$	(2,992	)	$	(26,174	)	$	11,447
Derivatives not subject to master netting agreements	597		—		597
Total derivatives	41,210		—		41,210
Liabilities:
Derivatives subject to master netting agreements	$	13,333	$	—	$	13,333	$	(2,992	)	$	(261	)	$	10,080
Derivatives not subject to master netting agreements	88		—		88
Total derivatives	13,421		—		13,421

12. Resale and Repurchase Agreements

The following table shows the extent to which assets and liabilities relating to securities purchased under agreements to resell (resale agreements) and securities sold under agreements to repurchase (repurchase agreements) have been offset in the consolidated balance sheets, in addition to the extent to which they could potentially be offset. Also shown is collateral received or pledged, which consists of marketable securities. The collateral amounts in the table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus, amounts of excess collateral are not shown. The agreements in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default.

Resale and repurchase agreements are agreements to purchase/sell securities subject to an obligation to resell/repurchase the same or similar securities. They are accounted for as collateralized financing transactions, not as sales and purchases of the securities portfolio. The securities collateral accepted or pledged in resale and repurchase agreements with other financial institutions also may be sold or re-pledged by the secured party but is usually delivered to and held by third party trustees. The Company generally retains custody of securities pledged for repurchase agreements with customers.

29

The Company is party to several agreements commonly known as collateral swaps. These agreements involve the exchange of collateral under simultaneous repurchase and resale agreements with the same financial institution counterparty. These repurchase and resale agreements have the same principal amounts, inception dates, and maturity dates and have been offset against each other in the consolidated balance sheets, as permitted under the netting provisions of ASC 210-20-45. The collateral swaps totaled $300.0 million at March 31, 2019 and $450.0 million at December 31, 2018. At March 31, 2019, the Company had posted collateral of $312.2 million in marketable securities, consisting of agency mortgage-backed bonds and treasuries, and had accepted $302.3 million in investment grade asset-backed, commercial mortgage-backed, and corporate bonds.

								Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset		Securities Collateral Received/Pledged			Net Amount
March 31, 2019
Total resale agreements, subject to master netting arrangements	$	1,000,000	$	(300,000	)	$	700,000	$	—	$	(700,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	1,760,376		(300,000		)	1,460,376		—		(1,460,376		)	—
December 31, 2018
Total resale agreements, subject to master netting arrangements	$	1,150,000	$	(450,000	)	$	700,000	$	—	$	(700,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	2,393,219		(450,000		)	1,943,219		—		(1,943,219		)	—

The table below shows the remaining contractual maturities of repurchase agreements outstanding at March 31, 2019 and December 31, 2018, in addition to the various types of marketable securities that have been pledged by the Company as collateral for these borrowings.

	Remaining Contractual Maturity of the Agreements
(In thousands)	Overnight and continuous		Up to 90 days		Greater than 90 days		Total
March 31, 2019
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	280,854	$	101,727	$	—	$	382,581
Government-sponsored enterprise obligations	47,900		—		—		47,900
Agency mortgage-backed securities	702,596		75,702		211,750		990,048
Non-agency mortgage-backed securities	135,495		—		—		135,495
Asset-backed securities	67,987		40,000		—		107,987
Other debt securities	96,365		—		—		96,365
Total repurchase agreements, gross amount recognized	$	1,331,197	$	217,429	$	211,750	$	1,760,376
December 31, 2018
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	387,541	$	150,000	$	100,000	$	637,541
Government-sponsored enterprise obligations	18,466		—		—		18,466
Agency mortgage-backed securities	882,744		31,774		213,752		1,128,270
Non-agency mortgage-backed securities	187,740		—		—		187,740
Asset-backed securities	322,680		—		—		322,680
Other debt securities	98,522		—		—		98,522
Total repurchase agreements, gross amount recognized	$	1,897,693	$	181,774	$	313,752	$	2,393,219

30

13. Stock-Based Compensation

The Company issues stock-based compensation in the form of nonvested restricted stock and stock appreciation rights (SARs). Most of the awards are issued during the first quarter of each year. The stock-based compensation expense that has been charged against income was $3.5 million and $3.3 million in the three months ended March 31, 2019 and 2018, respectively.

Nonvested stock awards generally vest in 4 to 7 years and contain restrictions as to transferability, sale, pledging, or assigning, among others, prior to the end of the vesting period. Dividend and voting rights are conferred upon grant. A summary of the status of the Company’s nonvested share awards as of March 31, 2019, and changes during the three month period then ended, is presented below.

	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019	1,180,940		$43.24
Granted	178,446		61.87
Vested	(291,519	)	32.68
Forfeited	(3,246	)	49.41
Nonvested at March 31, 2019	1,064,621		$49.23

SARs are granted with exercise prices equal to the market price of the Company’s stock at the date of grant. SARs vest ratably over 4 years of continuous service and have 10-year contractual terms. All SARs must be settled in stock under provisions of the plan. In determining compensation cost, the Black-Scholes option-pricing model is used to estimate the fair value of SARs on date of grant. The current year per share average fair value and the model assumptions are shown in the table below.

Weighted per share average fair value at grant date		$11.92
Assumptions:
Dividend yield	1.7		%
Volatility	19.8		%
Risk-free interest rate	2.6		%
Expected term	6.0 years

A summary of SAR activity during the first three months of 2019 is presented below.

(Dollars in thousands, except per share data)	Rights		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2019	1,066,438		$40.22
Granted	186,825		61.76
Forfeited	(1,479	)	51.16
Expired	(682	)	41.81
Exercised	(95,934	)	34.27
Outstanding at March 31, 2019	1,155,168		$44.19	7.1 years	$	16,717

14. Revenue from Contracts with Customers

The core principle of ASU 2014-09, "Revenue from Contracts with Customers," is that an entity should recognize revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For the three months ended March 31, 2019, approximately 63% of the Company’s total revenue was comprised of net interest income, which is not within the scope of this guidance. Of the remaining revenue, those items that were subject to this guidance mainly included fees for bank card, trust, deposit account services and consumer brokerage services.

31

The following table disaggregates non-interest income subject to ASU 2014-09 by major product line.

	Three Months Ended March 31
(In thousands)	2019		2018
Bank card transaction fees	$	39,644	$	41,453
Trust fees	37,256		36,062
Deposit account charges and other fees	23,018		22,982
Consumer brokerage services	3,747		3,768
Other non-interest income	8,372		7,311
Total non-interest income from contracts with customers	112,037		111,576
Other non-interest income (a)	9,203		8,114
Total non-interest income	$	121,240	$	119,690

(a) This revenue is not within the scope of ASU 2014-09, and includes fees relating to capital market activities, loan fees and sales, derivative instruments, standby letters of credit and various other transactions.

For bank card transaction fees, the majority of debit and credit card fees are earned in the Consumer segment, while corporate card and merchant fees are earned in the Commercial segment. The Consumer and Commercial segments each contribute approximately half of the Company's deposit account charge revenue. All trust fees and nearly all of the consumer brokerage services income are earned in the Wealth segment.    

The following table presents the opening and closing receivable balances for the three month periods endedMarch 31, 2019 and 2018 for the Company’s significant revenue categories subject to ASU 2014-09.

(In thousands)	March 31, 2019		December 31, 2018		March 31, 2018		December 31, 2017
Bank card transaction fees	$	11,016	$	13,035	$	10,978	$	13,315
Trust fees	2,720		2,721		3,116		2,802
Deposit account charges and other fees	5,265		6,107		4,682		5,597
Consumer brokerage services	526		559		690		380

For these revenue categories, none of the transaction price has been allocated to performance obligations that are unsatisfied as of the end of a reporting period.

15. Fair Value Measurements

The Company uses fair value measurements to record fair value adjustments to certain financial and nonfinancial assets and liabilities and to determine fair value disclosures. Various financial instruments such as available for sale debt securities, equity securities, trading debt securities, certain investments relating to private equity activities, and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets and liabilities on a nonrecurring basis, such as mortgage servicing rights and certain other investment securities. These nonrecurring fair value adjustments typically involve lower of cost or fair value accounting or write-downs of individual assets.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, the Company uses various valuation techniques and assumptions when estimating fair value. For accounting disclosure purposes, a three-level valuation hierarchy of fair value measurements has been established. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:

• Level 1 – inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.

• Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and inputs that are observable for the assets or liabilities, either directly or indirectly (such as interest rates, yield curves, and prepayment speeds).

• Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value. These may be internally developed, using the Company’s best information and assumptions that a market participant would consider.

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The valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis are described in the Fair Value Measurements note in the Company's 2018 Annual Report on Form 10-K. There have been no significant changes in these methodologies since then.

Instruments Measured at Fair Value on a Recurring Basis

The table below presents the March 31, 2019 and December 31, 2018 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first three months of 2019 or the year ended December 31, 2018.

			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)
March 31, 2019
Assets:
Residential mortgage loans held for sale	$	8,908	$	—	$	8,908	$	—
Available for sale debt securities:
U.S. government and federal agency obligations	877,921		877,921		—		—
Government-sponsored enterprise obligations	197,979		—		197,979		—
State and municipal obligations	1,274,200		—		1,259,671		14,529
Agency mortgage-backed securities	3,412,399		—		3,412,399		—
Non-agency mortgage-backed securities	1,060,008		—		1,060,008		—
Asset-backed securities	1,470,516		—		1,470,516		—
Other debt securities	334,867		—		334,867		—
Trading debt securities	30,427		—		30,427		—
Equity securities	2,808		2,808		—		—
Private equity investments	85,877		—		—		85,877
Derivatives *	51,691		—		50,776		915
Assets held in trust for deferred compensation plan	14,897		14,897		—		—
Total assets	8,822,498		895,626		7,825,551		101,321
Liabilities:
Derivatives *	10,300		—		10,190		110
Liabilities held in trust for deferred compensation plan	14,897		14,897		—		—
Total liabilities	$	25,197	$	14,897	$	10,190	$	110
December 31, 2018
Assets:
Residential mortgage loans held for sale	$	13,529	$	—	$	13,529	$	—
Available for sale debt securities:
U.S. government and federal agency obligations	907,652		907,652		—		—
Government-sponsored enterprise obligations	195,778		—		195,778		—
State and municipal obligations	1,328,039		—		1,313,881		14,158
Agency mortgage-backed securities	3,214,985		—		3,214,985		—
Non-agency mortgage-backed securities	1,047,716		—		1,047,716		—
Asset-backed securities	1,511,614		—		1,511,614		—
Other debt securities	332,257		—		332,257		—
Trading debt securities	27,059		—		27,059		—
Equity securities	2,585		2,585		—		—
Private equity investments	85,659		—		—		85,659
Derivatives *	41,210		—		40,627		583
Assets held in trust for deferred compensation plan	12,968		12,968		—		—
Total assets	8,721,051		923,205		7,697,446		100,400
Liabilities:
Derivatives *	13,421		—		13,328		93
Liabilities held in trust for deferred compensation plan	12,968		12,968		—		—
Total liabilities	$	26,389	$	12,968	$	13,328	$	93

* The fair value of each class of derivative is shown in Note 11.

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The 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
For the three months ended March 31, 2019
Balance January 1, 2019	$	14,158	$	85,659		$	490		$	100,307
Total gains or losses (realized/unrealized):
Included in earnings	—		(1,842		)	315			(1,527		)
Included in other comprehensive income *	364		—			—			364
Discount accretion	7		—			—			7
Purchases of private equity investments	—		2,060			—			2,060
Balance March 31, 2019	$	14,529	$	85,877		$	805		$	101,211
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at March 31, 2019	$	—	$	(1,842	)	$	851		$	(991	)
For the three months ended March 31, 2018
Balance January 1, 2018	$	17,016	$	55,752		$	503		$	73,271
Total gains or losses (realized/unrealized):
Included in earnings	—		4,305			165			4,470
Included in other comprehensive income *	133		—			—			133
Discount accretion	9		—			—			9
Purchases of private equity investments	—		4,879			—			4,879
Sale/pay down of private equity investments	—		(20		)	—			(20		)
Capitalized interest/dividends	—		35			—			35
Sale of risk participation agreement	—		—			(148		)	(148		)
Balance March 31, 2018	$	17,158	$	64,951		$	520		$	82,629
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at March 31, 2018	$	—	$	4,305		$	745		$	5,050

* Included in "net unrealized gains (losses) on other securities" in the consolidated statements of comprehensive income.

Gains and losses included in earnings for the Level 3 assets and liabilities in the previous table are reported in the following line items in the consolidated statements of income:

(In thousands)	Loan Fees and Sales		Other Non-Interest Income		Investment Securities Gains (Losses), Net			Total
For the three months ended March 31, 2019
Total gains or losses included in earnings	$	287	$	28	$	(1,842	)	$	(1,527	)
Change in unrealized gains or losses relating to assets still held at March 31, 2019	$	823	$	28	$	(1,842	)	$	(991	)
For the three months ended March 31, 2018
Total gains or losses included in earnings	$	2	$	163	$	4,305		$	4,470
Change in unrealized gains or losses relating to assets still held at March 31, 2018	$	582	$	163	$	4,305		$	5,050

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Level 3 Inputs

The Company's significant Level 3 measurements which employ unobservable inputs that are readily quantifiable pertain to auction rate securities (ARS) held by the Bank, investments in portfolio concerns held by the Company's private equity subsidiaries, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $14.5 million at March 31, 2019, while private equity investments, included in other securities, totaled $85.9 million.

Information about these inputs is presented in the table and discussions below.

Quantitative Information about Level 3 Fair Value Measurements						Weighted
	Valuation Technique	Unobservable Input	Range			Average
Auction rate securities	Discounted cash flow	Estimated market recovery period	4	-	5 years
		Estimated market rate	3.4%	-	4.3%
Private equity investments	Market comparable companies	EBITDA multiple	4.0	-	6.0
Mortgage loan commitments	Discounted cash flow	Probability of funding	50.8%	-	99.1%	79.3%
		Embedded servicing value	.6%	-	2.4%	1.3%

Instruments Measured at Fair Value on a Nonrecurring Basis

For assets measured at fair value on a nonrecurring basis during the first three months of 2019 and 2018, and still held as of March 31, 2019 and 2018, the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation inputs used to determine each adjustment, and the carrying value of the related individual assets or portfolios at March 31, 2019 and 2018.

			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) Recognized During the Three Months Ended March 31
March 31, 2019
Collateral dependent impaired loans	$	129	$	—	$	—	$	129	$	170
Mortgage servicing rights	6,341		—		—		6,341		(260		)
Long-lived assets	134		—		—		134		(14		)
March 31, 2018
Collateral dependent impaired loans	$	39	$	—	$	—	$	39	$	(12	)
Mortgage servicing rights	5,105		—		—		5,105		9
Long-lived assets	914		—		—		914		(552		)

16. 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 Company prospectively adopted ASU 2016-01 on January 1, 2018. In accordance with its requirements, the fair value of loans as of March 31, 2019 and December 31, 2018 were measured using an exit price notion.

35

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 at March 31, 2019 and December 31, 2018:

	Carrying Amount		Estimated Fair Value at March 31, 2019
(In thousands)			Level 1		Level 2		Level 3		Total
Financial Assets
Loans:
Business	$	5,175,541	$	—	$	—	$	5,110,404	$	5,110,404
Real estate - construction and land	925,269		—		—		922,877		922,877
Real estate - business	2,859,614		—		—		2,847,793		2,847,793
Real estate - personal	2,125,087		—		—		2,076,475		2,076,475
Consumer	1,893,212		—		—		1,851,010		1,851,010
Revolving home equity	364,010		—		—		359,856		359,856
Consumer credit card	772,396		—		—		720,563		720,563
Overdrafts	5,593		—		—		3,994		3,994
Total loans	14,120,722		—		—		13,892,972		13,892,972
Loans held for sale	20,085		—		20,085		—		20,085
Investment securities	8,792,515		880,729		7,765,867		145,919		8,792,515
Federal funds sold	250		250		—		—		250
Securities purchased under agreements to resell	700,000		—		—		700,588		700,588
Interest earning deposits with banks	166,077		166,077		—		—		166,077
Cash and due from banks	428,018		428,018		—		—		428,018
Derivative instruments	51,691		—		50,776		915		51,691
Assets held in trust for deferred compensation plan	14,897		14,897		—		—		14,897
Total	$	24,294,255	$	1,489,971	$	7,836,728	$	14,740,394	$	24,067,093
Financial Liabilities
Non-interest bearing deposits	$	6,298,724	$	6,298,724	$	—	$	—	$	6,298,724
Savings, interest checking and money market deposits	11,799,346		11,799,346		—		—		11,799,346
Certificates of deposit	1,876,283		—		—		1,887,103		1,887,103
Federal funds purchased	262,375		262,375		—		—		262,375
Securities sold under agreements to repurchase	1,460,376		—		—		1,461,343		1,461,343
Other borrowings	1,932		—		1,035		897		1,932
Derivative instruments	10,300		—		10,190		110		10,300
Liabilities held in trust for deferred compensation plan	14,897		14,897		—		—		14,897
Total	$	21,724,233	$	18,375,342	$	11,225	$	3,349,453	$	21,736,020

36

	Carrying Amount		Estimated Fair Value at December 31, 2018
(In thousands)			Level 1		Level 2		Level 3		Total
Financial Assets
Loans:
Business	$	5,106,427	$	—	$	—	$	5,017,694	$	5,017,694
Real estate - construction and land	869,659		—		—		868,274		868,274
Real estate - business	2,875,788		—		—		2,846,095		2,846,095
Real estate - personal	2,127,083		—		—		2,084,370		2,084,370
Consumer	1,955,572		—		—		1,916,627		1,916,627
Revolving home equity	376,399		—		—		365,069		365,069
Consumer credit card	814,134		—		—		756,651		756,651
Overdrafts	15,236		—		—		11,223		11,223
Total loans	14,140,298		—		—		13,866,003		13,866,003
Loans held for sale	20,694		—		20,694		—		20,694
Investment securities	8,698,666		910,237		7,643,290		145,139		8,698,666
Federal funds sold	3,320		3,320		—		—		3,320
Securities purchased under agreements to resell	700,000		—		—		693,228		693,228
Interest earning deposits with banks	689,876		689,876		—		—		689,876
Cash and due from banks	507,892		507,892		—		—		507,892
Derivative instruments	41,210		—		40,627		583		41,210
Assets held in trust for deferred compensation plan	12,968		12,968		—		—		12,968
Total	$	24,814,924	$	2,124,293	$	7,704,611	$	14,704,953	$	24,533,857
Financial Liabilities
Non-interest bearing deposits	$	6,980,298	$	6,980,298	$	—	$	—	$	6,980,298
Savings, interest checking and money market deposits	11,685,239		11,685,239		—		—		11,685,239
Certificates of deposit	1,658,122		—		—		1,663,748		1,663,748
Federal funds purchased	13,170		13,170		—		—		13,170
Securities sold under agreements to repurchase	1,943,219		—		—		1,944,458		1,944,458
Other borrowings	8,702		—		7,751		951		8,702
Derivative instruments	13,421		—		13,328		93		13,421
Liabilities held in trust for deferred compensation plan	12,968		12,968		—		—		12,968
Total	$	22,315,139	$	18,691,675	$	21,079	$	3,609,250	$	22,322,004

17. Legal and Regulatory Proceedings

The Company has various legal proceedings pending at March 31, 2019, arising in the normal course of business. While some matters pending against the Company specify damages claimed by plaintiffs, others do not seek a specified amount of damages or are at very early stages of the legal process. The Company records a loss accrual for all legal and regulatory matters for which it deems a loss is probable and can be reasonably estimated. Some matters, which are in the early stages, have not yet progressed to the point where a loss amount can be determined to be probable and estimable.

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Item 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND

RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with the consolidated financial statements and related notes and with the statistical information and financial data appearing in this report as well as the Company's 2018 Annual Report on Form 10-K. Results of operations for the three month period ended March 31, 2019 are not necessarily indicative of results to be attained for any other period.

Forward-Looking Information

This report may contain "forward-looking statements" that are subject to risks and uncertainties and include information about possible or assumed future results of operations. Many possible events or factors could affect the future financial results and performance of the Company. This could cause results or performance to differ materially from those expressed in the forward-looking statements. Words such as "expects", "anticipates", "believes", "estimates", variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers should not rely solely on the forward-looking statements and should consider all uncertainties and risks discussed throughout this report. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events. Such possible events or factors include: changes in economic conditions in the Company's market area, changes in policies by regulatory agencies, governmental legislation and regulation, fluctuations in interest rates, changes in liquidity requirements, demand for loans in the Company's market area, changes in accounting and tax principles, estimates made on income taxes, competition with other entities that offer financial services, cybersecurity threats, and such other factors as discussed in Part I Item 1A - "Risk Factors" and Part II Item 7 - "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's 2018 Annual Report on Form 10-K.

Critical Accounting Policies

The Company has identified several policies as being critical because they require management to make particularly difficult, subjective and/or complex judgments about matters that are inherently uncertain and because of the likelihood that materially different amounts would be reported under different conditions or using different assumptions. These policies relate to the allowance for loan losses, the valuation of certain investment securities, and accounting for income taxes. A discussion of these policies can be found in the sections captioned "Critical Accounting Policies" and "Allowance for Loan Losses" in Management's Discussion and Analysis of Financial Condition and Results of Operations included in the Company's 2018 Annual Report on Form 10-K. There have been no changes in the Company's application of critical accounting policies since December 31, 2018.

38

Selected Financial Data

	Three Months Ended March 31
	2019			2018
Per Share Data
Net income per common share — basic	$	.85		$	.88	*
Net income per common share — diluted	.85			.88		*
Cash dividends on common stock	.260			.224		*
Book value per common share	26.18			22.88		*
Market price	58.06			57.06		*
Selected Ratios
(Based on average balance sheets)
Loans to deposits (1)	70.96		%	69.09		%
Non-interest bearing deposits to total deposits	31.88			33.85
Equity to loans (1)	21.06			19.49
Equity to deposits	14.95			13.47
Equity to total assets	11.93			11.02
Return on total assets	1.58			1.66
Return on common equity	13.64			15.58
(Based on end-of-period data)
Non-interest income to revenue (2)	37.34			38.29
Efficiency ratio (3)	58.76			58.21
Tier I common risk-based capital ratio	14.39			13.26
Tier I risk-based capital ratio	15.15			14.02
Total risk-based capital ratio	16.00			14.87
Tangible common equity to tangible assets ratio (4)	11.06			9.88
Tier I leverage ratio	11.67			10.83

* Restated for the 5% stock dividend distributed in December 2018.

(1) Includes loans held for sale.

(2) Revenue includes net interest income and non-interest income.

(3) The efficiency ratio is calculated as non-interest expense (excluding intangibles amortization) as a percent of revenue.

(4) The tangible common equity to tangible assets ratio is a measurement which management believes is a useful indicator of capital adequacy and utilization. It provides a meaningful basis for period to period and company to company comparisons, and also assists regulators, investors and analysts in analyzing the financial position of the Company. Tangible common equity and tangible assets are non-GAAP measures and should not be viewed as substitutes for, or superior to, data prepared in accordance with GAAP.

The following table is a reconciliation of the GAAP financial measures of total equity and total assets to the non-GAAP measures of total tangible common equity and total tangible assets.

	March 31
(Dollars in thousands)	2019			2018
Total equity	$	3,043,213		$	2,705,728
Less non-controlling interest	5,458			2,606
Less preferred stock	144,784			144,784
Less goodwill	138,921			138,921
Less core deposit premium	2,170			2,788
Total tangible common equity (a)	$	2,751,880		$	2,416,629
Total assets	$	25,033,471		$	24,611,242
Less goodwill	138,921			138,921
Less core deposit premium	2,170			2,788
Total tangible assets (b)	$	24,892,380		$	24,469,533
Tangible common equity to tangible assets ratio (a)/(b)	11.06		%	9.88		%

39

Results of Operations

Summary

	Three Months Ended March 31						Increase (Decrease)
(Dollars in thousands)	2019			2018			Amount			% change
Net interest income	$	203,488		$	192,892		$	10,596		5.5	%
Provision for loan losses	(12,463		)	(10,396		)	2,067			19.9
Non-interest income	121,240			119,690			1,550			1.3
Investment securities gains (losses), net	(925		)	5,410			(6,335		)	N.M.
Non-interest expense	(191,425		)	(182,277		)	9,148			5.0
Income taxes	(22,860		)	(23,258		)	(398		)	(1.7	)
Non-controlling interest (expense) income	83			(1,077		)	(1,160		)	N.M.
Net income attributable to Commerce Bancshares, Inc.	97,138			100,984			(3,846		)	(3.8	)
Preferred stock dividends	(2,250		)	(2,250		)	—			—
Net income available to common shareholders	$	94,888		$	98,734		$	(3,846	)	(3.9	)%

N.M. - Not meaningful.

For the quarter ended March 31, 2019, net income attributable to Commerce Bancshares, Inc. (net income) amounted to $97.1 million, a decrease of $3.8 million, or 3.8%, compared to the first quarter of the previous year. For the current quarter, the annualized return on average assets was 1.58%, the annualized return on average common equity was 13.64%, and the efficiency ratio was 58.76%. Diluted earnings per common share was $.85, a decrease of 3.4% compared to $.88 per share in the first quarter of 2018 and a decrease of 11.5% compared to $.96 per share in the previous quarter.

Compared to the first quarter of last year, net interest income increased $10.6 million, or 5.5%, mainly due to growth of $19.4 million in interest income on loans, coupled with an increase of $2.2 million in interest income on investment securities. These increases in net interest income were partly offset by an increase of $11.3 million in deposits and borrowings interest expense. The provision for loan losses totaled $12.5 million for the current quarter, representing an increase of $2.1 million over the first quarter of 2018. Non-interest income increased $1.6 million, or 1.3%, compared to the first quarter of 2018, mainly due to growth in trust, cash sweep and loan fee income, partly offset by lower net bank card fees. Non-interest expense increased $9.1 million, or 5.0%, over the first quarter of 2018 primarily due to increases in salaries and benefits, data processing and marketing expense, partly offset by lower deposit insurance expense.

Net investment securities losses totaled $925 thousand in the current quarter compared to gains of $5.4 million in the same quarter last year. Current quarter losses were primarily comprised of $1.8 million in unrealized fair value losses on the Company's private equity investment portfolio, partly offset by net gains of $694 thousand from sales of investment securities.

40

Net Interest Income

The following table summarizes the changes in net interest income on a fully taxable equivalent basis, by major category of interest earning assets and interest bearing liabilities, identifying changes related to volumes and rates. Changes not solely due to volume or rate changes are allocated to rate.

Analysis of Changes in Net Interest Income

	Three Months Ended March 31, 2019 vs. 2018
	Change due to
(In thousands)	Average Volume			Average Rate			Total
Interest income, fully taxable equivalent basis:
Loans:
Business	$	1,340		$	7,409		$	8,749
Real estate - construction and land	(519		)	2,318			1,799
Real estate - business	1,305			3,890			5,195
Real estate - personal	537			1,003			1,540
Consumer	(1,498		)	2,250			752
Revolving home equity	(228		)	837			609
Consumer credit card	698			224			922
Overdrafts	—			—			—
Total interest on loans	1,635			17,931			19,566
Loans held for sale	10			20			30
Investment securities:
U.S. government and federal agency securities	(38		)	(3,007		)	(3,045		)
Government-sponsored enterprise obligations	(935		)	256			(679		)
State and municipal obligations	(1,732		)	432			(1,300		)
Mortgage-backed securities	2,808			1,422			4,230
Asset-backed securities	292			2,222			2,514
Other securities	51			130			181
Total interest on investment securities	446			1,455			1,901
Federal funds sold and short-term securities purchased under
agreements to resell	(161		)	14			(147		)
Long-term securities purchased under agreements to resell	—			(356		)	(356		)
Interest earning deposits with banks	177			569			746
Total interest income	2,107			19,633			21,740
Interest expense:
Deposits:
Savings	17			(15		)	2
Interest checking and money market	54			3,957			4,011
Certificates of deposit of less than $100,000	(27		)	624			597
Certificates of deposit of $100,000 and over	433			2,730			3,163
Total interest on deposits	477			7,296			7,773
Federal funds purchased and securities sold under
agreements to repurchase	593			2,915			3,508
Other borrowings	(5		)	(2		)	(7		)
Total interest expense	1,065			10,209			11,274
Net interest income, tax equivalent basis	$	1,042		$	9,424		$	10,466

Net interest income in the first quarter of 2019 was $203.5 million, an increase of $10.6 million over the first quarter of 2018. On a tax equivalent (T/E) basis, net interest income totaled $207.1 million in the first quarter of 2019, up $10.5 million over the same period last year and down $9.2 million from the previous quarter. The increase in net interest income compared to the first quarter of 2018 was mainly due to higher interest income on loans (T/E) of $19.6 million. The increase in interest on loans was mainly a result of higher yields on all loan products, especially commercial loans, many of which have variable rates. Total interest

41

income on investment securities (T/E) increased $1.9 million over the first quarter of 2018 due to increases in the average rate earned and average investment securities balances, partly offset by a decline of $4.0 million in inflation income on the Company's U.S. Treasury inflation-protected securities (TIPS). The Company's net yield on earning assets (T/E) was 3.52% in the current quarter compared to 3.37% in the first quarter of 2018.

Total interest income (T/E) increased $21.7 million over the first quarter of 2018. Interest income on loans (T/E) was $168.0 million during the first quarter of 2019, and increased $19.6 million, or 13.2%, over the same quarter last year. The increase was primarily due to an increase of 52 basis points in average rates earned, supplemented by growth of $151.4 million, or 1.1%, in average loan balances. Most of the increase in interest income occurred in the business, business real estate, construction, and personal real estate loan categories. The largest increase to interest income occurred in business loan interest, which grew $8.7 million due to a 59 basis point increase in the average rate earned, coupled with higher average balances of $150.3 million, or 3.0%. Construction loan interest grew $1.8 million due to a 104 basis point increase in the average rate earned, partly offset by a decrease in average balances of $44.9 million, or 4.7%. Business real estate loan interest increased $5.2 million due to an increase of 55 basis points in the average rate earned and an increase in average balances of $130.4 million, or 4.8%. Personal real estate loan interest increased $1.5 million due to an increase of $57.3 million, or 2.8%, in average balances, and an increase of 20 basis points in the average rate earned. Interest on consumer loans increased $752 thousand over the same period last year as the average rate increased 48 basis points, but was partly offset by a decline of $143.0 million in average balances (mainly auto loans). In addition, interest on consumer credit card loans grew $922 thousand over the same quarter last year, as average balances increased $23.5 million and the average rate earned increased 12 basis points.

Interest income on investment securities (T/E) was $57.5 million during the first quarter of 2019, which was an increase of $1.9 million over the same quarter last year. The largest increase in interest income occurred in mortgage-backed securities, which grew $4.2 million and resulted from an increase of $434.5 million in average balances and a 14 basis point increase in the average rate earned. Interest income on asset-backed securities increased $2.5 million due to growth in the average rate earned of 59 basis points and higher average balances of $56.1 million. Adjustments to premium amortization expense, due to slowing prepayment speeds on various mortgage-backed and asset-backed securities, increased interest income $72 thousand in the current quarter, compared to $1.5 million in the same quarter last year. These increases were partly offset by lower interest income on U.S. government & federal agency obligations, which declined $3.0 million mainly due to lower TIPS interest income. Interest income related to TIPS, which is tied to the Consumer Price Index, decreased $4.0 million in the first quarter of 2019 from interest income of $2.0 million in the prior quarter. Interest income on state & municipal obligations declined $1.3 million due to lower average balances of $229.9 million, partly offset by an increase in the average rate earned of 13 basis points. Interest income on government-sponsored enterprise obligations declined $679 thousand mainly due to a decline of $206.2 million in average balances, partly offset by growth of 51 basis points in the average rate earned. The average balance of the total investment portfolio (excluding unrealized fair value adjustments on available for sale debt securities) was $8.8 billion in the first quarter of 2019, compared to $8.7 billion in the first quarter of 2018.

Interest income on long-term securities purchased under agreements to resell decreased $356 thousand from the first quarter of 2018, due to a decline in the average rate earned of 20 basis points. Interest income on balances at the Federal Reserve increased $746 thousand due to a 73 basis point increase in the average rate earned and a $42.7 million increase in the average balance invested.

The average tax equivalent yield on total interest earning assets was 3.93% in the first quarter of 2019, up from 3.59% in the first quarter of 2018.

Total interest expense increased $11.3 million compared to the first quarter of 2018 due to a $7.8 million increase in interest expense on interest bearing deposits and a $3.5 million increase in interest expense on borrowings. The increase in deposit expense resulted mainly from a 23 basis point increase in the overall average rate paid on deposits. Interest expense on interest checking and money market accounts increased $4.0 million mainly due an increase of 15 basis points in the average rate paid. In addition, interest expense on C.D.'s of $100,000 and over rose $3.2 million due to a 90 basis point increase in average rates paid coupled with higher average balances. Interest expense on borrowings increased due to higher rates paid on customer repurchase agreements. The overall average rate incurred on all interest bearing liabilities was .65% and .36% in the first quarters of 2019 and 2018, respectively.

Summaries of average assets and liabilities and the corresponding average rates earned/paid appear on the last page of this discussion.

42

Non-Interest Income

	Three Months Ended March 31						Increase (Decrease)
(Dollars in thousands)	2019			2018			Amount			% change
Bank card transaction fees	$	39,644		$	41,453		$	(1,809	)	(4.4	)%
Trust fees	37,256			36,062			1,194			3.3
Deposit account charges and other fees	23,018			22,982			36			.2
Capital market fees	1,879			2,291			(412		)	(18.0	)
Consumer brokerage services	3,747			3,768			(21		)	(.6	)
Loan fees and sales	3,309			2,862			447			15.6
Other	12,387			10,272			2,115			20.6
Total non-interest income	$	121,240		$	119,690		$	1,550		1.3	%
Non-interest income as a % of total revenue*	37.3		%	38.3		%

* Total revenueincludes net interest income and non-interest income.

For the first quarter of 2019, total non-interest income amounted to $121.2 million compared with $119.7 million in the same quarter last year, which was an increase of $1.6 million, or 1.3%. The increase was mainly due to growth in trust, cash sweep and loan fee income, partly offset by lower net bank card fees.

Bank card transaction fees for the current quarter decreased $1.8 million, or 4.4%, from the same period last year. Net corporate card fees declined $1.3 million, or 5.5%, from the same quarter last year mainly due to higher rewards and network expense. Net debit card fees declined $260 thousand, or 2.8%, due to lower interchange income. Overall net merchant income declined $287 thousand due to lower interchange fees and higher network expense, while net credit card fees increased slightly on higher interchange revenue. Total net bank card fees this quarter were comprised of fees on corporate card ($22.8 million), debit card ($9.1 million), merchant ($4.5 million) and credit card ($3.2 million) transactions. The table below is a summary of bank card transaction fees for the three month periods ended March 31, 2019 and 2018.

	Three Months Ended March 31				Increase (Decrease)
(Dollars in thousands)	2019		2018		Amount			% change
Net debit card fees	$	9,131	$	9,391	$	(260	)	(2.8	)%
Net credit card fees	3,157		3,101		56			1.8
Net merchant fees	4,507		4,793		(286		)	(6.0	)
Net corporate card fees	22,849		24,168		(1,319		)	(5.5	)
Total bank card transaction fees	$	39,644	$	41,453	$	(1,809	)	(4.4	)%

Trust fees for the quarter increased $1.2 million, or 3.3%, over the same quarter last year, resulting mainly from growth in private client trust fees, which were up $1.3 million, or 4.7%. Compared to the same period last year, deposit account fees increased slightly due to growth in corporate cash management fees, offset by lower overdraft and return item fees. Capital market fees declined $412 thousand on lower trading securities income, while loan fees and sales increased $447 thousand, or 15.6%, mainly due to higher mortgage banking revenue. Other non-interest income increased $2.1 million compared to the same quarter last year, mainly due to higher cash sweep fees, which increased $1.3 million, or 59.0%, to $3.4 million. In addition, fair value adjustments on the Company's deferred compensation plan assets, which are held in a trust and recorded as both an asset and a liability, increased $1.4 million over the same quarter last year, affecting both other income and other expense. These increases were partly offset by lower interest rate swap and tax credit sales fees.

Investment Securities Gains (Losses), Net

	Three Months Ended March 31
(In thousands)	2019			2018
Net gains (losses) on sales of available for sale debt securities	$	694		$	212
Fair value adjustments of private equity investments, net	(1,842		)	4,305
Fair value adjustments on equity securities, net	223			947
Other	—			(54		)
Total investment securities gains (losses), net	$	(925	)	$	5,410

43

Net gains and losses on investment securities which were recognized in earnings during the three months ended March 31, 2019 and 2018 are shown in the table above. Net securities losses of $925 thousand were reported in the first quarter of 2019, compared to net gains of $5.4 million in the same period last year. The net losses in the first quarter of 2019 were mainly comprised of $1.8 million of net losses in fair value on the Company’s private equity investments, partly offset by net gains of $692 thousand on sales of available for sale debt securities. The net gains on investment securities for the same quarter last year resulted from $4.3 million of net gains in fair value on the Company’s holdings of private equity investments and net gains in fair value of $947 thousand on equity securities. The portion of private equity activity attributable to minority interests is reported as non-controlling interest in the consolidated statements of income and resulted in income of $306 thousand during the first three months of 2019 and expense of $861 thousand during the first three months of 2018.

Included in gains and losses are credit-related impairment losses on certain non-agency guaranteed mortgage-backed securities which have been identified as other-than-temporarily impaired. There were no impairment losses on these securities in the first three months of 2019, compared to an impairment of $68 thousand in the same period last year. 

Non-Interest Expense

	Three Months Ended March 31				Increase (Decrease)
(Dollars in thousands)	2019		2018		Amount			% change
Salaries and employee benefits	$	122,128	$	115,894	$	6,234		5.4	%
Net occupancy	11,501		11,584		(83		)	(.7	)
Equipment	4,471		4,431		40			.9
Supplies and communication	5,162		5,313		(151		)	(2.8	)
Data processing and software	22,260		20,690		1,570			7.6
Marketing	5,900		4,805		1,095			22.8
Deposit insurance	1,710		3,457		(1,747		)	(50.5	)
Community service	803		729		74			10.2
Other	17,490		15,374		2,116			13.8
Total non-interest expense	$	191,425	$	182,277	$	9,148		5.0	%

Non-interest expense for the first quarter of 2019 amounted to $191.4 million, an increase of $9.1 million, or 5.0%, compared with $182.3 million in the first quarter of last year. The increase in expense over the same period last year was primarily due to higher salaries and benefits expense but also included several non-recurring items totaling $3.2 million, mainly recorded in other non-interest expense. Excluding these non-recurring items, non-interest expense reflected a core growth rate of 3.2% this quarter over the first quarter of 2018.

Salaries expense increased $5.0 million, or 5.3%, mainly due to higher full-time salary costs. Employee benefits expense totaled $22.1 million, reflecting growth of $1.2 million, or 5.8%, mainly as a result of higher medical costs. Full-time equivalent employees totaled 4,841 at March 31, 2019 compared to 4,799 at March 31, 2018. Supplies and communication expense declined $151 thousand, or 2.8%, mainly due to lower data network expense, while data processing expense increased $1.6 million, or 7.6%, due to higher costs for service providers and software expense. Marketing costs increased $1.1 million, or 22.8%, mainly due to increased marketing efforts for consumer deposit customers and healthcare banking initiatives. Deposit insurance expense declined $1.7 million, or 50.5%, from the first quarter of last year due to reduced FDIC insurance rates. Additionally, other non-interest expense increased $2.1 million, or 13.8%, compared to the previous year mainly due to the previously mentioned fair value equity adjustments of $1.4 million on the deferred compensation plan assets and other non-recurring items. Higher costs were also recorded in professional fees, while loan collection and repossessed property costs were lower.

44

Provision and Allowance for Loan Losses

	Three Months Ended
(In thousands)	Mar. 31, 2019			Dec. 31, 2018			Mar. 31, 2018
Provision for loan losses	$	12,463		$	12,256		$	10,396
Net loan charge-offs (recoveries):
Commercial:
Business	447			1,748			(14		)
Real estate-construction and land	(16		)	(183		)	(36		)
Real estate-business	(37		)	(91		)	(205		)
Commercial net loan charge-offs (recoveries)	394			1,474			(255		)
Personal Banking:
Real estate-personal	101			(144		)	57
Consumer	1,924			2,805			2,528
Revolving home equity	19			—			56
Consumer credit card	8,958			7,421			7,566
Overdrafts	317			500			444
Personal banking net loan charge-offs	11,319			10,582			10,651
Total net loan charge-offs	$	11,713		$	12,056		$	10,396

	Three Months Ended
	Mar. 31, 2019		Dec. 31, 2018		Mar. 31, 2018
Annualized net loan charge-offs (recoveries)*:
Commercial:
Business	.04	%	.14	%	—	%
Real estate-construction and land	(.01	)	(.08	)	(.02	)
Real estate-business	(.01	)	(.01	)	(.03	)
Commercial net loan charge-offs (recoveries)	.02		.07		(.01	)
Personal Banking:
Real estate-personal	.02		(.03	)	.01
Consumer	.40		.57		.49
Revolving home equity	.02		—		.06
Consumer credit card	4.65		3.73		4.05
Overdrafts	30.57		37.59		38.91
Personal banking net loan charge-offs	.88		.80		.82
Total annualized net loan charge-offs	.34	%	.34	%	.30	%

* as a percentage of average loans (excluding loans held for sale)

The Company has an established process to determine the amount of the allowance for loan losses, which assesses the risks and losses inherent in its portfolio. This process provides an allowance consisting of a specific allowance component based on certain individually evaluated loans and a general component based on estimates of allowances for pools of loans. The Company's policies and processes for determining the allowance for loan losses are discussed in Note 1 to the consolidated financial statements and in the Allowance for Loan Losses discussion in Item 7 of the 2018 Annual Report on Form 10-K.

Net loan charge-offs in the first quarter of 2019 amounted to $11.7 million, compared with $12.1 million in the prior quarter and $10.4 million in the first quarter of last year. During the first quarter of 2019, the Company recorded net charge-offs on commercial loans of $394 thousand, compared to net loan charge-offs of $1.5 million in the prior quarter. The decrease in commercial net loan charge-offs was primarily driven by a $1.3 million decrease in net charge-offs on business loans this quarter compared to the fourth quarter of 2018. In addition to declines in commercial net loan charge-offs, net charge-offs on consumer loans decreased $881 thousand in the first quarter of 2019 compared to the prior quarter. These decreases were partially offset by an increase of $1.5 million in net charge-offs on consumer credit card loans in the first quarter of 2019 compared to the prior

45

quarter. Also, the Company recorded net loan charge-offs on personal real estate loans of $101 thousand, compared to net recoveries of $144 thousand in the prior quarter.

For the three months ended March 31, 2019, annualized net charge-offs on average consumer credit card loans totaled 4.65%, compared to 3.73% in the previous quarter and 4.05% in the same period last year. Consumer loan annualized net charge-offs in the current quarter amounted to .40%, compared to .57% in the prior quarter and .49% in the same period last year.  Annualized net charge-offs on personal real estate loans also remained low this quarter.  In the first quarter of 2019, total annualized net loan charge-offs were .34%, unchanged from the previous quarter, and were .30% in the same period last year.

In the current quarter, the provision for loan losses totaled $12.5 million, a $207 thousand increase over a provision of $12.3 million in the prior quarter, and increased $2.1 million compared to the first quarter of 2018. The provision for loan losses in the current quarter and the previous quarter exceeded net loan charge-offs by $750 thousand and $200 thousand, respectively. During the first quarter of 2018, the provision for loan losses totaled $10.4 million and equaled net loan charge-offs for the same period.

At March 31, 2019, the allowance for loan losses amounted to $160.7 million, compared to $159.9 million at December 31, 2018, and was 1.14% of total loans at March 31, 2019 compared to 1.13% of total loans at December 31, 2018. The Company considers the allowance for loan losses adequate to cover losses inherent in the loan portfolio at March 31, 2019.

Risk Elements of Loan Portfolio

The following table presents non-performing assets and loans which are past due 90 days and still accruing interest. Non-performing assets include non-accruing loans and foreclosed real estate. Loans are placed on non-accrual status when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment. Loans that are 90 days past due as to principal and/or interest payments are generally placed on non-accrual, unless they are both well-secured and in the process of collection, or they are personal banking loans that are exempt under regulatory rules from being classified as non-accrual.

(Dollars in thousands)	March 31, 2019			December 31, 2018
Non-accrual loans	$	12,167		$	12,536
Foreclosed real estate	737			1,413
Total non-performing assets	$	12,904		$	13,949
Non-performing assets as a percentage of total loans	.09		%	.10		%
Non-performing assets as a percentage of total assets	.05		%	.05		%
Total loans past due 90 days and still accruing interest	$	16,655		$	16,658

Non-accrual loans, which are also classified as impaired, totaled $12.2 million at March 31, 2019, a decrease of $369 thousand from the balance at December 31, 2018. The decrease occurred mainly in business loans, which decreased $416 thousand but was partly offset by increases in business real estate and personal real estate loans of $31 thousand and $16 thousand, respectively. At March 31, 2019, non-accrual loans were comprised mainly of business (70.4%), personal real estate (15.2%), and business real estate (14.4%) loans. Foreclosed real estate totaled $737 thousand at March 31, 2019, a decrease of $676 thousand when compared to December 31, 2018. Total loans past due 90 days or more and still accruing interest were $16.7 million as of March 31, 2019, unchanged from December 31, 2018. Balances by class for non-accrual loans and loans past due 90 days and still accruing interest are shown in the "Delinquent and non-accrual loans" section in Note 2 to the consolidated financial statements.

46

In addition to the non-performing and past due loans mentioned above, the Company also has identified loans for which management has concerns about the ability of the borrowers to meet existing repayment terms. They are classified as substandard under the Company's internal rating system. The loans are generally secured by either real estate or other borrower assets, reducing the potential for loss should they become non-performing. Although these loans are generally identified as potential problem loans, they may never become non-performing. Such loans totaled $142.3 million at March 31, 2019 compared with $145.7 million at December 31, 2018, resulting in a decrease of $3.4 million, or 2.3%.

(In thousands)	March 31, 2019		December 31, 2018
Potential problem loans:
Business	$	92,993	$	98,009
Real estate – construction and land	1,063		1,211
Real estate – business	47,502		44,854
Real estate – personal	737		1,586
Total potential problem loans	$	142,295	$	145,660

At March 31, 2019, the Company had $81.4 million of loans whose terms have been modified or restructured under a troubled debt restructuring. These loans have been extended to borrowers who are experiencing financial difficulty and who have been granted a concession, as defined by accounting guidance, and are further discussed in the "Troubled debt restructurings" section in Note 2 to the consolidated financial statements. This balance includes certain commercial loans totaling $56.5 million which are classified as substandard and included in the table above because of this classification. In April 2019, the Company received full payment of $24.4 million on a substandard commercial loan included in the table above.

Loans with Special Risk Characteristics

Management relies primarily on an internal risk rating system, in addition to delinquency status, to assess risk in the loan portfolio, and these statistics are presented in Note 2 to the consolidated financial statements. However, certain types of loans are considered at high risk of loss due to their terms, location, or special conditions. Additional information about the major types of loans in these categories and their risk features are provided below. Information based on loan-to-value (LTV) ratios was generally calculated with valuations at loan origination date. The Company normally obtains an updated appraisal or valuation at the time a loan is renewed or modified, or if the loan becomes significantly delinquent or is in the process of being foreclosed upon.

Real Estate – Construction and Land Loans

The Company's portfolio of construction and land loans, as shown in the table below, amounted to 6.6% of total loans outstanding at March 31, 2019. The largest component of construction and land loans was commercial construction, which increased $47.7 million during the three months ended March 31, 2019. At March 31, 2019, multi-family residential construction loans totaled approximately $183.1 million, or 27.4%, of the commercial construction loan portfolio, compared to $146.6 million, or 23.5%, at December 31, 2018.

(Dollars in thousands)	March 31, 2019		% of Total		% of Total Loans		December 31, 2018		% of Total		% of Total Loans
Residential land and land development	$	80,520	8.7	%	.6	%	$	81,740	9.4	%	.6	%
Residential construction	133,505		14.4		1.0		123,369		14.2		.9
Commercial land and land development	44,207		4.8		.3		45,180		5.2		.3
Commercial construction	667,037		72.1		4.7		619,370		71.2		4.4
Total real estate - construction and land loans	$	925,269	100.0	%	6.6	%	$	869,659	100.0	%	6.2	%

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Real Estate – Business Loans

Total business real estate loans were $2.9 billion at March 31, 2019 and comprised 20.3% of the Company's total loan portfolio. These loans include properties such as manufacturing and warehouse buildings, small office and medical buildings, churches, hotels and motels, shopping centers, and other commercial properties. At March 31, 2019, 36.6% of business real estate loans were for owner-occupied real estate properties, which present lower risk profiles.

(Dollars in thousands)	March 31, 2019		% of Total		% of Total Loans		December 31, 2018		% of Total		% of Total Loans
Owner-occupied	$	1,045,191	36.6	%	7.4	%	$	1,038,589	36.1	%	7.3	%
Multi-family	371,404		13.0		2.6		408,151		14.2		2.9
Office	312,387		10.9		2.2		356,733		12.4		2.5
Retail	320,254		11.2		2.3		307,915		10.7		2.2
Hotels	209,390		7.3		1.5		209,693		7.3		1.5
Farm	155,197		5.4		1.1		160,935		5.6		1.1
Senior living	135,036		4.7		1.0		117,635		4.1		.8
Industrial	128,840		4.5		.9		109,391		3.8		.8
Other	181,915		6.4		1.3		166,746		5.8		1.2
Total real estate - business loans	$	2,859,614	100.0	%	20.3	%	$	2,875,788	100.0	%	20.3	%

Revolving Home Equity Loans

The Company had $364.0 million in revolving home equity loans at March 31, 2019 that were generally collateralized by residential real estate. Most of these loans (91.9%) are written with terms requiring interest only monthly payments. These loans are offered in three main product lines: LTV up to 80%, 80% to 90%, and 90% to 100%. As of March 31, 2019, the outstanding principal of loans with an original LTV higher than 80% was $43.4 million, or 11.9% of the portfolio, compared to $45.1 million as of December 31, 2018. Total revolving home equity loan balances over 30 days past due or on non-accrual status were $1.6 million at March 31, 2019 compared to $1.7 million at December 31, 2018.  The weighted average FICO score for the total current portfolio balance is 792. At maturity, the accounts are re-underwritten, and if they qualify under the Company's credit, collateral and capacity policies, the borrower is given the option to renew the line of credit or convert the outstanding balance to an amortizing loan.  If criteria are not met, amortization is required, or the borrower may pay off the loan. During the remainder of 2019 through 2021, approximately 7.3% of the Company's current outstanding balances are expected to mature. Of these balances, approximately 91% have a FICO score of 700 or higher. The Company does not expect a significant increase in losses as these loans mature, due to their high FICO scores, low LTVs, and low historical loss levels.

Other Consumer Loans

Within the consumer loan portfolio are several direct and indirect product lines, which include loans for the purchase of automobiles, motorcycles, marine and RVs. Outstanding balances for auto loans were $887.2 million and $910.5 million at March 31, 2019 and December 31, 2018, respectively. The balances over 30 days past due amounted to $12.9 million at March 31, 2019 compared to $17.8 million at December 31, 2018, and comprised 1.5% and 2.0% of the outstanding balances of these loans at March 31, 2019 and December 31, 2018, respectively. For the three months ended March 31, 2019, $83.4 million of new auto loans were originated, compared to $100.8 million during the first three months of 2018.  At March 31, 2019, the automobile loan portfolio had a weighted average FICO score of 754.

Outstanding balances for motorcycle loans were $80.5 million at March 31, 2019, compared to $89.4 million at December 31, 2018. The balances over 30 days past due amounted to $1.8 million and $2.1 million at March 31, 2019 and December 31, 2018, respectively, and comprised 2.3% of the outstanding balance of these loans at March 31, 2019, compared to 2.4% at December 31, 2018. During the first three months of 2019, new motorcycle loan originations totaled $2.4 million compared to $5.2 million during the first three months of 2018.

The Company's balance of marine and RV loans totaled $46.1 million at March 31, 2019, compared to $50.9 million at December 31, 2018, and the balances over 30 days past due amounted to $2.2 million and $2.5 million at March 31, 2019 and December 31, 2018, respectively. The net charge-offs on marine and RV loans decreased from $198 thousand in the first three months of 2018 to $152 thousand in the first three months of 2019.

Additionally, the Company offers low promotional rates on selected consumer credit card products. Out of a portfolio at March 31, 2019 of $772.4 million in consumer credit card loans outstanding, approximately $175.2 million, or 23%, carried a low promotional rate. Within the next six months, $66.8 million of these loans are scheduled to convert to the ongoing higher contractual

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rate. To mitigate some of the risk involved with this credit card product, the Company performs credit checks and detailed analysis of the customer borrowing profile before approving the loan application. Management believes that the risks in the consumer loan portfolio are reasonable and the anticipated loss ratios are within acceptable parameters.

Energy Lending

The Company's energy lending portfolio is comprised of lending to the petroleum and natural gas sectors and totaled $129.0 million at March 31, 2019, as shown in the table below.

(In thousands)	March 31, 2019		December 31, 2018		Unfunded commitments at March 31, 2019
Extraction	$	111,255	$	114,152	$	60,316
Support activities	7,869		8,892		23,542
Downstream distribution and refining	5,964		17,300		33,767
Mid-stream shipping and storage	3,926		3,483		56,578
Total energy lending portfolio	129,014		143,827		174,203

Shared National Credits

The Company participates in credits of large, publicly traded companies which are defined by regulation as shared national credits, or SNCs. Regulations define SNCs as loans exceeding $100 million that are shared by three or more financial institutions. The Company typically participates in these loans when business operations are maintained in the local communities or regional markets and opportunities to provide other banking services are present. The balance of SNC loans totaled $848.5 million at March 31, 2019, compared to $830.2 million at December 31, 2018. Additional unfunded commitments at March 31, 2019 totaled $1.3 billion.

Income Taxes

Income tax expense was $22.9 million in the first quarter of 2019, compared to $26.5 million in the fourth quarter of 2018 and $23.3 million in the first quarter of 2018. The Company's effective tax rate, including the effect of non-controlling interest, was 19.1% in the first quarter of 2019, compared to 19.5% in the fourth quarter of 2018 and 18.7% in the first quarter of 2018. The effective tax rate in the first quarter is typically lower than other quarters due to the recognition of share-based excess tax benefits as a reduction to income tax expense. These benefits result from transactions relating to equity award vesting, most of which occur in the first quarter of each year.

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Financial Condition

Balance Sheet

Total assets of the Company were $25.0 billion at March 31, 2019 and $25.5 billion at December 31, 2018. Earning assets (excluding the allowance for loan losses and fair value adjustments on debt securities) amounted to $23.8 billion at March 31, 2019 and $24.3 billion at December 31, 2018, and consisted of 60% in loans and 37% in investment securities at March 31, 2019.

During the first quarter of 2019, average loans totaled $14.1 billion, an increase of $68.9 million over the prior quarter, and grew $150.6 million, or 1.1%, over the same period last year. Period-end loans, however, declined slightly from the prior quarter. Compared to the previous quarter, average business real estate and business loans grew $106.6 million and $56.3 million, respectively. This growth was partly offset by declines in average construction (decline of $46.1 million) and auto (decline of $24.3 million) lending activities. Business real estate loans continued to grow this quarter from new lending in a number of our markets. Growth in business loans was the result of increased leasing activities, new commercial and industrial lending, and seasonal agribusiness borrowings. This growth was partly offset by other seasonal loan paydowns. The decline in construction loans resulted mainly from paydowns on completed projects, partly offset by additional loan draws on existing projects. Auto loans declined $24.3 million due mainly to paydowns on existing loans exceeding new loan originations during the quarter. During the current quarter, the Company sold certain fixed rate personal real estate loans totaling $45.6 million, compared to $49.7 million in the prior quarter.

During the first quarter of 2019, the fair value of total average available for sale debt securities decreased $6.7 million from the previous quarter to $8.6 billion. The decline in investment securities was mainly the result of lower municipal, mortgage-backed, U.S. government and federal agency, and government-sponsored enterprise obligation securities. Purchases of securities during the quarter totaled $406.5 million and were offset by sales, maturities and pay downs of $404.6 million. At March 31, 2019, the duration of the investment portfolio was 2.9 years, and maturities and pay downs of approximately $1.0 billion are expected to occur during the next 12 months.

Total average deposits decreased $211.6 million this quarter compared to the previous quarter. The decrease in average deposits resulted mainly from lower balances of business demand deposits (decline of $457.8 million) and money market accounts (decline of $282.7 million). These declines were partly offset by increases in interest checking deposits, certificates of deposit, government demand deposits, personal demand deposits, and savings deposits of $205.2 million, $182.3 million, $64.1 million, $55.0 million, and $25.5 million, respectively. Compared to the previous quarter, total average consumer and wealth (including private banking) deposits increased $127.9 million and $31.4 million, respectively, while average commercial banking deposits declined $274.1 million. The average loans to deposits ratio was 71.0% in the current quarter and 69.9% in the prior quarter. The Company’s average borrowings, which includes customer repurchase agreements, totaled $1.8 billion in the current quarter, an increase of $115.5 million compared to the prior quarter.

Liquidity and Capital Resources

Liquidity Management

The Company’s most liquid assets are comprised of available for sale debt securities, federal funds sold, securities purchased under agreements to resell (resale agreements), and balances at the Federal Reserve Bank, as follows:

(In thousands)	March 31, 2019		March 31, 2018		December 31, 2018
Liquid assets:
Available for sale debt securities	$	8,627,890	$	8,432,180	$	8,538,041
Federal funds sold	250		17,000		3,320
Long-term securities purchased under agreements to resell	700,000		700,000		700,000
Balances at the Federal Reserve Bank	166,077		134,697		689,876
Total	$	9,494,217	$	9,283,877	$	9,931,237

Federal funds sold, which are funds lent to the Company's correspondent bank customers with overnight maturities, totaled $250 thousand as of March 31, 2019. Long-term resale agreements, maturing through 2022, totaled $700.0 million at March 31, 2019. Under these agreements, the Company lends funds to upstream financial institutions and holds marketable securities, safe-kept by a third-party custodian, as collateral. This collateral totaled $731.9 million in fair value at March 31, 2019. Interest earning balances at the Federal Reserve Bank, which have overnight maturities and are used for general liquidity purposes, totaled $166.1 million at March 31, 2019. The fair value of the available for sale debt portfolio was $8.6 billion at March 31, 2019 and included

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an unrealized net gain in fair value of $33.4 million. The total net unrealized gain included net gains of $25.8 million on state and municipal obligations and $10.6 million on U.S. government and federal agency obligations, and total net unrealized losses of $1.5 million on government-sponsored enterprise obligations, $853 thousand on mortgage-backed and asset-backed securities, and $655 thousand on other debt securities.

Approximately $1.0 billion of the available for sale debt portfolio is expected to mature or pay down during the next 12 months, and these funds offer substantial resources to meet new loan demand or help offset reductions in the Company's deposit funding base. The Company pledges portions of its investment securities portfolio to secure public fund deposits, securities sold under agreements to repurchase, trust funds, letters of credit issued by the FHLB, and borrowing capacity at the Federal Reserve Bank. Total investment securities pledged for these purposes were as follows:

(In thousands)	March 31, 2019		March 31, 2018		December 31, 2018
Investment securities pledged for the purpose of securing:
Federal Reserve Bank borrowings	$	64,702	$	81,419	$	67,675
FHLB borrowings and letters of credit	9,502		12,247		9,974
Securities sold under agreements to repurchase *	1,820,190		1,719,583		2,469,432
Other deposits and swaps	2,069,215		1,856,778		1,784,020
Total pledged securities	3,963,609		3,670,027		4,331,101
Unpledged and available for pledging	3,405,046		3,332,768		2,872,562
Ineligible for pledging	1,259,235		1,429,385		1,334,378
Total available for sale debt securities, at fair value	$	8,627,890	$	8,432,180	$	8,538,041

* Includes securities pledged for collateral swaps, as discussed in Note 12 to the consolidated financial statements.

Liquidity is also available from the Company's large base of core customer deposits, defined as non-interest bearing, interest checking, savings, and money market deposit accounts. At March 31, 2019, such deposits totaled $18.1 billion and represented 90.6% of total deposits. These core deposits are normally less volatile, as they are often with customer relationships tied to other products offered by the Company, promoting long lasting relationships and stable funding sources. Certificates of deposit of $100,000 and over totaled $1.3 billion at March 31, 2019. These accounts are normally considered more volatile and higher costing and comprised 6.4% of total deposits at March 31, 2019.

(In thousands)	March 31, 2019		March 31, 2018		December 31, 2018
Core deposit base:
Non-interest bearing	$	6,298,724	$	6,953,430	$	6,980,298
Interest checking	2,035,476		1,447,556		2,090,936
Savings and money market	9,763,870		10,380,582		9,594,303
Total	$	18,098,070	$	18,781,568	$	18,665,537

Other important components of liquidity are the level of borrowings from third party sources and the availability of future credit. The Company's outside borrowings are mainly comprised of federal funds purchased and repurchase agreements, as follows:

(In thousands)	March 31, 2019		March 31, 2018		December 31, 2018
Borrowings:
Federal funds purchased	$	262,375	$	104,940	$	13,170
Securities sold under agreements to repurchase	1,460,376		1,027,389		1,943,219
Other debt	2,022		9,214		8,702
Total	$	1,724,773	$	1,141,543	$	1,965,091

Federal funds purchased are unsecured overnight borrowings obtained mainly from upstream correspondent banks with which the Company maintains approved lines of credit. Repurchase agreements are collateralized by securities in the Company's investment portfolio and are comprised of non-insured customer funds totaling $1.5 billion, which generally mature overnight.

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The Company pledges certain assets, including loans and investment securities, to both the Federal Reserve Bank and the FHLB as security to establish lines of credit and borrow from these entities. Based on the amount and type of collateral pledged, the FHLB establishes a collateral value from which the Company may draw advances against the collateral. Also, this collateral is used to enable the FHLB to issue letters of credit in favor of public fund depositors of the Company. The Federal Reserve Bank also establishes a collateral value of assets pledged and permits borrowings from the discount window. The following table reflects the collateral value of assets pledged, borrowings, and letters of credit outstanding, in addition to the estimated future funding capacity available to the Company at March 31, 2019.

	March 31, 2019
(In thousands)	FHLB			Federal Reserve		Total
Collateral value pledged	$	2,516,341		$	1,300,517	$	3,816,858
Letters of credit issued	(182,752		)	—		(182,752		)
Available for future advances	$	2,333,589		$	1,300,517	$	3,634,106

In addition to those mentioned above, several other sources of liquidity are available. No commercial paper has been issued or outstanding during the past ten years. The Company has no subordinated debt or hybrid instruments which could affect future borrowing capacity. Because of its lack of significant long-term debt, the Company believes that it could generate additional liquidity through its Capital Markets Group from sources such as jumbo certificates of deposit or privately placed corporate debt. The Company receives strong outside rankings from both Standard & Poor's and Moody's on both the consolidated company level and its subsidiary bank, Commerce Bank, which would support future financing efforts, should the need arise. These ratings are as follows:

	Standard & Poor’s	Moody’s
Commerce Bancshares, Inc.
Issuer rating	A-
Rating outlook	Stable	Stable
Preferred stock	BBB-	Baa1
Commerce Bank
Issuer rating	A	A2
Rating outlook	Stable	Stable
Baseline credit assessment		a1
Short-term rating	A-1	P-1

The cash flows from the operating, investing and financing activities of the Company resulted in a net decrease in cash, cash equivalents and restricted cash of $602.8 million during the first three months of 2019, as reported in the consolidated statements of cash flows in this report. Operating activities, consisting mainly of net income adjusted for certain non-cash items, provided cash flow of $142.2 million and has historically been a stable source of funds. Investing activities, which occur mainly in the loan and investment securities portfolios, used cash of $31.3 million. Activity in the investment securities portfolio used cash of $29.1 million for purchases (net of sales, maturities and pay downs). Financing activities used cash of $713.7 million, largely resulting from a net decrease in deposit balances of $402.4 million, a decrease of $233.6 million in federal funds purchased and securities sold under agreements to repurchase, and dividend payments of $31.1 million on common and preferred stock. Additionally, treasury stock purchases used cash of $39.7 million in the first three months of 2019. Future short-term liquidity needs arising from daily operations are not expected to vary significantly, and the Company believes it will be able to meet these cash flow needs.

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Capital Management

The Company met all capital adequacy requirements and had regulatory capital ratios in excess of the levels established for well-capitalized institutions at March 31, 2019 and December 31, 2018, as shown in the following table.

(Dollars in thousands)	March 31, 2019			December 31, 2018			Minimum Ratios under Capital Adequacy Guidelines		Minimum Ratios for Well-Capitalized Banks *
Risk-adjusted assets	$	19,082,784		$	19,103,966
Tier I common risk-based capital	2,746,308			2,716,232
Tier I risk-based capital	2,891,092			2,861,016
Total risk-based capital	3,052,849			3,022,023
Tier I common risk-based capital ratio	14.39		%	14.22		%	7.00	%	6.50	%
Tier I risk-based capital ratio	15.15		%	14.98		%	8.50	%	8.00	%
Total risk-based capital ratio	16.00		%	15.82		%	10.50	%	10.00	%
Tier I leverage ratio	11.67		%	11.52		%	4.00	%	5.00	%

*under Prompt Corrective Action requirements

The Company maintains a treasury stock buyback program under authorizations by its Board of Directors (the Board) and normally purchases stock in the open market. The Company purchased 647,054 shares at an average price of $61.35 during the three months ended March 31, 2019, which were related to both open market purchases and stock-based compensation transactions. At March 31, 2019, 1,602,509 shares remained available for purchase under the current Board authorization.

The Company's common stock dividend policy reflects its earnings outlook, desired payout ratios, the need to maintain adequate capital and liquidity levels, and alternative investment options. The Company paid a $.26 per share cash dividend on its common stock in the first quarter of 2019, which was a 16.1% increase compared to the same period in 2018.

Commitments, Off-Balance Sheet Arrangements and Contingencies

In the normal course of business, various commitments and contingent liabilities arise which are not required to be recorded on the balance sheet. The most significant of these are loan commitments, which at March 31, 2019 totaled $10.9 billion (including approximately $5.1 billion in unused approved credit card lines). In addition, the Company enters into standby and commercial letters of credit. These contracts totaled $325.6 million and $3.9 million, respectively, at March 31, 2019. As many commitments expire unused or only partially used, these totals do not necessarily reflect future cash requirements. The carrying value of the guarantee obligations associated with the standby letters of credit, which has been recorded as a liability on the consolidated balance sheet, amounted to $2.2 million at March 31, 2019.

The Company regularly purchases various state tax credits arising from third-party property redevelopment. These credits are either resold to third parties at a profit or retained for use by the Company. During the first three months of 2019, purchases and sales of tax credits amounted to $25.1 million and $18.4 million, respectively. Fees from sales of tax credits were $861 thousand for the three months ended March 31, 2019, compared to $1.2 million in the same period last year. At March 31, 2019, the Company expected to fund outstanding purchase commitments of $157.9 million during the remainder of 2019.

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Segment Results

The table below is a summary of segment pre-tax income results for the first three months of 2019 and 2018.

(Dollars in thousands)	Consumer			Commercial			Wealth			Segment Totals			Other/ Elimination			Consolidated Totals
Three Months Ended March 31, 2019
Net interest income	$	76,897		$	85,848		$	11,676		$	174,421		$	29,067		$	203,488
Provision for loan losses	(11,049		)	(618		)	33			(11,634		)	(829		)	(12,463		)
Non-interest income	29,171			47,915			44,332			121,418			(178		)	121,240
Investment securities losses, net	—			—			—			—			(925		)	(925		)
Non-interest expense	(73,508		)	(76,838		)	(30,892		)	(181,238		)	(10,187		)	(191,425		)
Income before income taxes	$	21,511		$	56,307		$	25,149		$	102,967		$	16,948		$	119,915
Three Months Ended March 31, 2018
Net interest income	$	71,021		$	82,584		$	11,445		$	165,050		$	27,842		$	192,892
Provision for loan losses	(10,373		)	180			(64		)	(10,257		)	(139		)	(10,396		)
Non-interest income	30,216			49,209			42,103			121,528			(1,838		)	119,690
Investment securities gains, net	—			—			—			—			5,410			5,410
Non-interest expense	(69,919		)	(72,778		)	(31,825		)	(174,522		)	(7,755		)	(182,277		)
Income before income taxes	$	20,945		$	59,195		$	21,659		$	101,799		$	23,520		$	125,319
Increase (decrease) in income before income taxes:
Amount	$	566		$	(2,888	)	$	3,490		$	1,168		$	(6,572	)	$	(5,404	)
Percent	2.7		%	(4.9		)%	16.1		%	1.1		%	(27.9		)%	(4.3		)%

Consumer

For the three months ended March 31, 2019, income before income taxes for the Consumer segment increased $566 thousand, or 2.7%, compared to the first three months of 2018. This increase in income before taxes was mainly due to higher net interest income of $5.9 million, or 8.3%. The increase was partly offset by a decline in non-interest income of $1.0 million, or 3.5%, and an increase in non-interest expense of $3.6 million, or 5.1%. Net interest income increased due to a $6.6 million increase in net allocated funding credits assigned to the Consumer segment's loan and deposit portfolios and growth of $1.1 million in loan interest income, partly offset by a $1.8 million increase in deposit interest expense. Non-interest income decreased mainly due to declines in deposit fees (mainly overdraft fees and deposit account service fees), debit card fees, and mortgage banking revenue. Non-interest expense increased over the same period in the previous year due to higher salaries expense and higher allocated servicing and support costs (mainly marketing and information technology fees), partly offset by a decline in deposit insurance expense. The provision for loan losses totaled $11.0 million, a $676 thousand increase over the first three months of 2018, which was mainly due to higher consumer credit card loan net charge-offs, partly offset by lower personal loan net charge-offs.

Commercial

For the three months ended March 31, 2019, income before income taxes for the Commercial segment decreased $2.9 million, or 4.9%, compared to the same period in the previous year. This decrease was mainly due to lower non-interest income, higher non-interest expense and an increase in the provision for loan losses. These decreases to income were partly offset by higher net interest income. Net interest income increased $3.3 million, or 4.0%, due to a $16.4 million increase in loan interest income, partly offset by a decline of $5.2 million in net allocated funding credits. In addition, deposit interest expense increased $4.9 million and customer repurchase agreement interest expense increased $3.0 million. Non-interest income decreased $1.3 million, or 2.6%, from the previous year due to lower bank card fee income (mainly corporate card fees) and capital market fees, partly offset by higher deposit account fees (mainly corporate cash management fees). Non-interest expense increased $4.1 million, or 5.6%, mainly due to increases in salaries expense and allocated commercial banking support costs, partly offset by a decrease in deposit insurance expense. The provision for loan losses increased $798 thousand over the same period last year, due to higher net charge-offs on commercial card, business and personal real estate loans and lower net recoveries on business real estate loans.

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Wealth

Wealth segment pre-tax profitability for the three months ended March 31, 2019 increased $3.5 million, or 16.1%, over the same period in the previous year. Net interest income increased $231 thousand, or 2.0%, mainly due to a $1.8 million increase in loan interest income, partly offset by a $1.0 million increase in deposit interest expense and a $544 thousand decrease in net allocated funding credits. Non-interest income increased $2.2 million, or 5.3%, over the prior year largely due to higher private client trust fees and cash sweep commissions. Non-interest expense decreased $933 thousand, or 2.9%, mainly due to trust losses recorded in the prior year. The provision for loan losses decreased $97 thousand, mainly due to lower personal real estate loan net charge-offs and recoveries on revolving home equity loans.

The Other/Elimination category in the preceding table includes the activity of various support and overhead operating units of the Company, in addition to the investment securities portfolio and other items not allocated to the segments. In accordance with the Company’s transfer pricing procedures, the difference between the total provision and total net charge-offs/recoveries is not allocated to a business segment and is included in this category. The pre-tax profitability of this category was lower than in the same period last year by $6.6 million. This decrease was mainly due higher non-interest expense of $2.4 million, partly offset by higher net interest income of $1.2 million and higher non-interest income of $1.7 million. Unallocated securities losses were $925 thousand in the first three months of 2019 compared to gains of $5.4 million in 2018. Also, the unallocated loan loss provision increased $690 thousand, as the provision was $750 thousand in excess of charge-offs in the first three months of 2019, while the provision was equal to net charge-offs during the first three months of 2018.

Impact of Recently Issued Accounting Standards

Leases In February 2016, the FASB issued ASU 2016-02, "Leases", in order to increase transparency and comparability by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The ASU primarily affects lessee accounting, which requires the lessee to recognize a right-of-use (ROU) asset and a liability to make lease payments for those leases classified as operating leases under previous GAAP. The ASU provides guidance as to the definition of a lease, identification of lease components, and sale and leaseback transactions. The FASB issued elections and expedients within the original ASU and additional amendments, clarifying the lease guidance for certain implementation issues. The Company has adopted the package of expedients, the lease component expedient as well as the disclosure expedient. Additionally, for leases with a term of 12 months of less, an election was made not to recognize lease assets and lease liabilities. The Company adopted the new accounting standard as of January 1, 2019, and a lease liability of $28.1 million and a ROU asset of $27.5 million were recognized. The impact of the adoption and required disclosures are discussed in Note 6 to the consolidated financial statements.

Premium Amortization The FASB issued ASU 2017-08, "Premium Amortization on Purchased Callable Debt Securities", in March 2017. Under former guidance, many entities amortize the premium on purchased callable debt securities over the contractual life of the instrument. As a result, upon the exercise of a call on a callable debt security held at a premium, the unamortized premium is recorded as a loss in earnings. The amendments in this ASU shorten the amortization period for certain callable debt securities held at a premium to the earliest call date, and more closely align the amortization period to expectations incorporated in market pricing of the instrument. The amendments are effective January 1, 2019 and did not have a significant effect on the Company's consolidated financial statements.

Financial Instruments ASU 2016-13, "Measurement of Credit Losses on Financial Instruments", better known as the current expected credit loss model (CECL), was issued in June 2016. CECL requires the calculation of expected life-time credit losses on both loans and held-to-maturity securities. The new standard will require significant operational changes, especially in data collection and analysis. The ASU is effective for interim and annual periods beginning January 1, 2020.

The Company continues to work with a software partner in implementing the new CECL standard. Software development and data collection has continued through the current quarter since the partnership commenced and it is expected that the preliminary CECL model will be ready for detailed review and testing during the second quarter of 2019. The Company expects that testing, control design and model validation will continue throughout the rest of 2019. Further, the Company will continue to evaluate the impact the adoption of ASU 2016-13 will have on the Company's consolidated financial statements. 

Intangible Assets The FASB issued ASU 2017-04, "Simplifying the Test for Goodwill Impairment", in January 2017. Under current guidance, a goodwill impairment loss is measured by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill by following procedures that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Under the new amendments, the goodwill impairment test compares the fair value of a reporting unit with its carrying amount and an impairment charge is measured as the amount by which the carrying amount exceeds the reporting unit's fair value. The amendments are effective for impairment tests beginning January 1, 2020 and are not expected to have a significant effect on the Company's consolidated financial statements.

55

Financial Instruments The FASB issued ASU 2018-13, "Changes to the Disclosure Requirements of Fair Value Measurement", in August 2018. The amendments in the ASU eliminate or modify certain disclosure requirements for fair value measurements in Topic 820, Fair Value Measurement. In addition, the amendments in the ASU also require the addition of new disclosure requirements on fair value measurement, including the disclosure of changes in unrealized gains and losses for the period included in AOCI for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The guidance is effective January 1, 2020, but early adoption is permitted. The Company is still assessing the impact on the Company's consolidated financial statements.

Retirement Benefits The FASB issued ASU 2018-14, "Compensation - Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20)", in August 2018. The amendments in the ASU eliminate disclosures that are no longer considered cost beneficial and clarify specific requirements of disclosures. In addition, the amendments in the ASU also add new disclosures, including the explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The amendments are effective January 1, 2020 and are not expected to have a significant effect on the Company's consolidated financial statements.

Intangible Assets The FASB issued ASU 2018-15, "Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract", in August 2018. Under current guidance, the accounting for implementation costs of a hosting arrangement that is a service contract is not specifically addressed. Under the new amendments, the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract are aligned with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software or hosting arrangements that include internal-use software license. The guidance is effective January 1, 2020, but early adoption is permitted. The Company is still assessing the impact on the Company's consolidated financial statements.

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AVERAGE BALANCE SHEETS — AVERAGE RATES AND YIELDS

Three Months Ended March 31, 2019 and 2018

	First Quarter 2019							First Quarter 2018
(Dollars in thousands)	Average Balance			Interest Income/Expense		Avg. Rates Earned/Paid		Average Balance			Interest Income/Expense		Avg. Rates Earned/Paid
ASSETS:
Loans:
Business(A)	$	5,084,920		$	51,044	4.07	%	$	4,934,621		$	42,295	3.48	%
Real estate — construction and land	907,062			12,813		5.73		951,930			11,014		4.69
Real estate — business	2,864,177			32,579		4.61		2,733,812			27,384		4.06
Real estate — personal	2,119,365			20,882		4.00		2,062,083			19,342		3.80
Consumer	1,929,202			22,484		4.73		2,072,168			21,732		4.25
Revolving home equity	370,962			4,728		5.17		392,727			4,119		4.25
Consumer credit card	781,167			23,461		12.18		757,692			22,539		12.06
Overdrafts	4,205			—		—		4,628			—		—
Total loans	14,061,060			167,991		4.85		13,909,661			148,425		4.33
Loans held for sale	18,350			334		7.38		19,115			304		6.45
Investment securities:
U.S. government and federal agency obligations	909,466			1,743		.78		916,655			4,788		2.12
Government-sponsored enterprise obligations	199,480			1,157		2.35		405,681			1,836		1.84
State and municipal obligations(A)	1,283,349			10,106		3.19		1,513,243			11,406		3.06
Mortgage-backed securities	4,360,428			29,625		2.76		3,925,904			25,395		2.62
Asset-backed securities	1,525,623			10,157		2.70		1,469,488			7,643		2.11
Other debt securities	335,612			2,229		2.69		341,821			2,232		2.65
Trading debt securities(A)	25,411			203		3.24		21,966			148		2.73
Equity securities(A)	4,568			423		37.55		50,507			454		3.64
Other securities(A)	130,057			1,836		5.73		100,993			1,676		6.73
Total investment securities	8,773,994			57,479		2.66		8,746,258			55,578		2.58
Federal funds sold and short-term securities
purchased under agreements to resell	4,797			33		2.79		44,339			180		1.65
Long-term securities purchased
under agreements to resell	700,000			3,758		2.18		700,000			4,114		2.38
Interest earning deposits with banks	316,660			1,886		2.42		273,977			1,140		1.69
Total interest earning assets	23,874,861			231,481		3.93		23,693,350			209,741		3.59
Allowance for loan losses	(159,275		)					(158,779		)
Unrealized loss on debt securities	(48,925		)					(43,238		)
Cash and due from banks	367,146							363,520
Premises and equipment, net	375,771							344,952
Other assets	454,344							436,728
Total assets	$	24,863,922						$	24,636,533
LIABILITIES AND EQUITY:
Interest bearing deposits:
Savings	$	896,378		247		.11		$	838,900		245		.12
Interest checking and money market	10,762,550			9,355		.35		10,737,829			5,344		.20
Certificates of deposit of less than $100,000	590,200			1,259		.87		625,319			662		.43
Certificates of deposit of $100,000 and over	1,267,517			6,002		1.92		1,134,194			2,839		1.02
Total interest bearing deposits	13,516,645			16,863		.51		13,336,242			9,090		.28
Borrowings:
Federal funds purchased and securities sold
under agreements to repurchase	1,771,534			7,509		1.72		1,560,573			4,001		1.04
Other borrowings	1,248			5		1.62		1,913			12		2.54
Total borrowings	1,772,782			7,514		1.72		1,562,486			4,013		1.04
Total interest bearing liabilities	15,289,427			24,377		.65	%	14,898,728			13,103		.36	%
Non-interest bearing deposits	6,324,738							6,824,700
Other liabilities	284,018							198,398
Equity	2,965,739							2,714,707
Total liabilities and equity	$	24,863,922						$	24,636,533
Net interest margin (T/E)				$	207,104						$	196,638
Net yield on interest earning assets						3.52	%						3.37	%

(A) Stated on a tax equivalent basis using a federal income tax rate of 21%.

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Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Interest rate risk management focuses on maintaining consistent growth in net interest income within Board-approved policy limits. The Company primarily uses earnings simulation models to analyze net interest income sensitivity to movement in interest rates. The Company performs monthly simulations which model interest rate movements and risk in accordance with changes to its balance sheet composition. For further discussion of the Company’s market risk, see the Interest Rate Sensitivity section of Management’s Discussion and Analysis of Financial Condition and Results of Operations included in the Company’s 2018 Annual Report on Form 10-K.

The tables below compute the effects of gradual shifts in interest rates over a twelve month period on the Company’s net interest income.  Simulation A presents two rising rate scenarios and a falling rate scenario and net interest income was calculated and compared to a base scenario in which all assets, liabilities and rates remained constant over a twelve month period.  In Simulation A, interest rates applicable to each earning asset or interest bearing liability were ratably increased or decreased during the year according to each scenario.  The balances contained in the balance sheet were assumed not to change over the twelve month period, except as presented in the table below, it was assumed that changes in rates would affect deposit balances and result in either additional short-term investments or borrowings. 

Simulation B provides additional rising rate scenarios with higher levels of deposit attrition assumed to provide added perspective on potential effects of higher rates.  The Company utilizes these simulations both for monitoring interest rate risk and for liquidity planning purposes.  While the future effects of rising rates on deposit balances cannot be known, the Company maintains a practice of running multiple rate scenarios to better understand interest rate risk and its effect on the Company’s performance.  The Company believes that its approach to interest rate risk has appropriately considered its susceptibility to both rising rates and falling rates and has adopted strategies which minimize impacts to overall interest rate risk.

Simulation A	March 31, 2019								December 31, 2018
(Dollars in millions)	$ Change in Net Interest Income			% Change in Net Interest Income		Assumed Deposit Attrition			$ Change in Net Interest Income			% Change in Net Interest Income		Assumed Deposit Attrition
200 basis points rising	$	5.5		.66	%	$	(247.3	)	$	5.2		.62	%	$	(237.9	)
100 basis points rising	3.7			.44		(128.0		)	3.8			.45		(120.3		)
100 basis points falling	(9.7		)	(1.16	)	137.5			(10.0		)	(1.18	)	142.8

Simulation B	March 31, 2019								December 31, 2018
(Dollars in millions)	$ Change in Net Interest Income			% Change in Net Interest Income		Assumed Deposit Attrition			$ Change in Net Interest Income			% Change in Net Interest Income		Assumed Deposit Attrition
200 basis points rising	$	(10.7	)	(1.29	)%	$	(725.2	)	$	(15.3	)	(1.81	)%	$	(829.2	)
100 basis points rising	(10.7		)	(1.28	)	(609.8		)	(14.2		)	(1.68	)	(715.4		)

Under Simulation A, in the rising rate scenarios, interest income grows faster than funding costs as loan and investment balances remain constant but rates increase. Additionally, deposit balances are assumed to be lower, reducing interest expense, but are offset by higher short-term federal fund borrowings which carry higher rates. Overall, net interest income increases under the rising rate scenarios in Simulation A. In Simulation B, the assumed higher levels of deposit attrition are also offset by short-term borrowed federal funds with higher interest rates, which results in a reduction in net interest income under the rising rate scenarios.

In the falling interest rate scenario shown in Simulation A, it is assumed that deposits would increase .7%, which results in higher earning assets but also increased funding costs. The lower rate scenario results in a decline in interest income on loans and investments and results in an overall decrease in net interest income of $9.7 million from the base scenario. In a falling rate environment, there was no difference in deposit assumptions, and the overall result was the same. Therefore, the falling rate scenario is only shown in Simulation A.

Projecting deposit activity in a period of historically low interest rates is difficult, and the Company cannot predict how deposits will actually react to shifting rates.  The comparisons above provide insight into potential effects of changes in rates and deposit levels on net interest income.  The Company believes that its approach to interest rate risk has appropriately considered its susceptibility to both rising and falling rates and has adopted strategies which minimize the impact of interest rate risk.

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Item 4. CONTROLS AND PROCEDURES

An evaluation was performed under the supervision and with the participation of the Company's management, including the Company's Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of March 31, 2019. Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective. There were no changes in the Company's internal control over financial reporting that occurred during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

PART II: OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

The information required by this item is set forth in Part I, Item 1 under Note 17, Legal and Regulatory Proceedings.

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table sets forth information about the Company's purchases of its $5 par value common stock, its only class of common stock registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended.

Period	Total Number of Shares Purchased	Average Price Paid per Share			Total Number of Shares Purchased as part of Publicly Announced Program	Maximum Number that May Yet Be Purchased Under the Program
January 1 — 31, 2019	173,686		$	60.67	173,686	2,075,877
February 1 — 28, 2019	289,943		$	61.59	289,943	1,785,934
March 1 — 31, 2019	183,425		$	61.63	183,425	1,602,509
Total	647,054		$	61.35	647,054	1,602,509

The Company's stock purchases shown above were made under authorizations by the Board. Under the most recent authorization in October 2015 of 5,000,000 shares, 1,602,509 shares remained available for purchase at March 31, 2019.

Item 6. EXHIBITS

3.1 — Restated Articles of Incorporation for Commerce Bancshares, Inc.

31.1 — Certification of CEO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2 — Certification of CFO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32 — Certifications of CEO and CFO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101 — Interactive data files pursuant to Rule 405 of Regulation S-T: (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income, (iii) the Consolidated Statements of Comprehensive Income, (iv) the Consolidated Statements of Changes in Equity, (v) the Consolidated Statements of Cash Flows and (vi) the Notes to Consolidated Financial Statements, tagged as blocks of text and in detail

60

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

COMMERCE BANCSHARES, INC.
By	/s/  THOMAS J.NOACK
	Thomas J. Noack
	Vice President & Secretary

Date: May 7, 2019

By	/s/  PAUL A. STEINER
	Paul A. Steiner
	Controller
	(Chief Accounting Officer)

Date: May 7, 2019

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EX-3.1

RESTATED ARTICLES OF INCORPORATION

OF

COMMERCE BANCSHARES, INC.

A Missouri Corporation

ARTICLE I

The name of this corporation is Commerce Bancshares, Inc.

ARTICLE II

The address of the corporation's registered office is in care of T. Alan Peschka, 1000 Walnut Street, Kansas City, Missouri, and the name of the corporation's registered agent at such address is Commerce Bank (f/k/a Commerce Bank of Kansas City, National Association).

ARTICLE III

The total number of shares of all classes of stock which the corporation shall have authority to issue is 122,000,000 shares, consisting of

(i) 2,000,000 shares of Preferred Stock of the par value of $1 per share, and

(ii) 140,000,000 shares of Common Stock of the par value of $5 per share.

The voting powers, designations, preferences and relative participating, optional or other special rights, and the qualifications, limitations, or restrictions thereof, of the classes of stock of the corporation which are fixed by these Articles of Incorporation, and the authority vested in the Board of Directors to fix by resolution or resolutions providing for the issue of preferred stock the voting powers, if any, designations, preferences and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions thereof, of the shares of Preferred Stock which are not fixed by these Articles of Incorporation are as follows:

(a) The Preferred Stock may be issued from time to time in one or more series of any number of shares, provided that the aggregate number of shares issued and not canceled of any and all such series shall not exceed the total number of shares of Preferred Stock hereinabove authorized. Each series of Preferred Stock shall be distinctively designated by letter or descriptive words. All series of Preferred Stock shall rank equally and be identical in all respects except as permitted by the provisions of paragraph (b) of this Article III. Different series of Preferred Stock shall not be construed to constitute different classes of shares for the purpose of voting by classes.

(b) Authority is hereby vested in the Board of Directors from time to time to issue the Preferred Stock as Preferred Stock of any series and in connection with the creation of each such series to fix by resolution or resolutions providing for the issue of shares thereof the voting powers, if any, the designation, preferences and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions thereof, of such series to the full extent now or hereafter permitted by these

Articles of Incorporation and the laws of the State of Missouri, in respect of the matters set forth in the following subparagraphs (1) to (9), inclusive:

(1) the distinctive designation of such series and the number of shares which shall constitute such series, which number may be increased or decreased (but not below the number of shares thereof then outstanding) from time to time by action of the Board of Directors;

(2) the dividend rate of such series and any limitations, restrictions or conditions on the payment of dividends, subject to paragraph (c) of this Article III;

(3) the price or prices at which, and the terms and conditions on which, the shares of such series may be redeemed by the corporation;

(4) the amount or amounts payable upon the shares of such series in the event of any liquidation, dissolution or winding up of the corporation;

(5) whether or not the shares of such series shall be entitled to the benefit of a sinking fund to be applied to the purchase or redemption of shares of such series and, if so entitled, the amount of such fund and the manner of its application;

(6) whether or not the shares of such series shall be made convertible into, or exchangeable for, shares of any other class or classes of stock of the corporation or shares of any other series of Preferred Stock, and, if made so convertible or exchangeable, the conversion price or prices, or the rate or rates of exchange, and the adjustments thereof, if any, at which such conversion or exchange may be made, and any other terms and conditions of such conversion or exchange;

(7) whether or not the shares of such series shall have any voting powers and, if voting powers are so granted, the extent of such voting powers;

(8) whether or not the shares of such series shall be entitled to the benefit of conditions and restrictions upon the creation of indebtedness of the corporation or any subsidiary, upon the issue of any additional Preferred Stock (including additional shares of such series or of any other series), and upon the payment of dividends (in addition to those provided in paragraphs (c) and (d) of this Article III) or the making of other distributions on, and the purchase, redemption or other acquisition by the corporation or any subsidiary of, any outstanding stock of the corporation; and

(9) such other preferences, rights, restrictions and qualifications as shall not be inconsistent herewith.

(c) The holders of Preferred Stock of each series shall be entitled to receive, when and as declared by the Board of Directors, dividends in cash at the rate for such series fixed by the Board of Directors as provided in paragraph (b) of this Article III, and no more, payable quarterly on the first days of January, April, July and October or of such other months as may be designated by the Board of Directors (each of the quarterly periods ending on the first day of January, April, July and October in each year, or on the first days of such other months, respectively, being hereinafter called a dividend period), in each case from the date of cumulation (as defined in paragraph (h) of this Article III) of such series. Except as may otherwise be provided in the resolution or resolutions providing for the issue of any given series of Preferred Stock, dividends on Preferred Stock shall be cumulative (whether or not there shall be net profits or net assets of the corporation legally available for the payment of such dividends) so that, if at any time full cumulative dividends (as defined in paragraph (h) of this Article III) upon the Preferred

Stock of all series to the end of the last completed dividend period shall not have been paid or declared and a sum sufficient for payment thereof set apart, the amount of the deficiency shall be fully paid, but without interest, or dividends in such amount shall have been declared on each such series and a sum sufficient for the payment thereof shall have been set apart for such payment, before any sum or sums shall be set aside for or applied to the purchase or redemption of Preferred Stock of any series (either pursuant to any applicable sinking fund provisions or any redemption authorized pursuant to paragraph (g) of this Article III or otherwise) or set aside for or applied to the purchase of Common Stock and before any dividend shall be paid or any other distribution made upon the Common Stock (other than a dividend payable in Common Stock); provided, however, that any moneys deposited in the sinking fund provided for any series of Preferred Stock in the resolution or resolutions providing for the issue of shares of said series, in compliance with the provisions of such sinking fund and of this paragraph (c), may thereafter be applied to the purchase or redemption of Preferred Stock in accordance with the terms of such sinking fund whether or not at the time of such application full cumulative dividends upon the outstanding Preferred Stock of all series to the end of the last completed dividend period shall have been paid or declared and set apart for payment. All dividends declared upon the Preferred Stock of the respective series outstanding shall be declared pro rata, so that the amounts of dividends declared per share on the Preferred Stock of different series shall in all cases bear to each other the same ratio that accrued dividends per share on the shares of such respective series bear to each other.

(d) Before any sum or sums shall be set aside for or applied to the purchase of Common Stock and before any dividends shall be paid or any distribution ordered or made upon the Common Stock (other than a dividend payable in Common Stock), the corporation shall comply with the sinking fund provisions, if any, of any resolution or resolutions providing for the issue of any series of Preferred Stock any shares of which shall at the time be outstanding.

(e) Subject to the provisions of paragraph (c) and (d) of this Article III, the holders of Common Stock shall be entitled, to the exclusion of the holders of Preferred Stock of any and all series, to receive such dividends as from time to time may be declared by the Board of Directors.

(f) In the event of any liquidation, dissolution or winding up of the corporation, the holders of Preferred Stock of each series then outstanding shall be entitled to be paid out of the assets of the corporation available for distribution to its stockholders, whether from capital, surplus or earnings, before any payment shall be made to the holders of Common Stock, an amount determined as provided in paragraph (b) of this Article III for every share of their holdings of Preferred Stock of such series. If upon any liquidation, dissolution or winding up of the corporation the assets of the corporation available for distribution to its stockholders shall be insufficient to pay the holders of Preferred Stock of all series the full amounts to which they respectively shall be entitled, the holders of Preferred Stock of all series shall share ratably in any distribution of assets according to the respective amounts which would be payable in respect of the shares of Preferred Stock held by them upon such distribution if all amounts payable on or with respect to Preferred Stock of all series were paid in full. In the event of any liquidation, dissolution or winding up of the corporation, after payment shall have been made to the holders of Preferred Stock of the full amount to which they shall be entitled as aforesaid, the holders of Common Stock shall be entitled, to the exclusion of the holders of Preferred Stock of any and all series, to share, ratably according to the number of shares of Common Stock held by them, in all remaining assets of the corporation available for distribution to its stockholders. Neither the merger or consolidation of the corporation into or with another corporation nor the merger or consolidation of any other corporation into or with the corporation, nor the sale, transfer or lease of all or substantially all of the assets of the corporation, shall be deemed to be a liquidation, dissolution or winding up of the corporation.

(g) Subject to any requirements which may be applicable to the redemption of any given series of Preferred Stock as provided in any resolution or resolutions providing for the issue of such series of Preferred Stock, the Preferred Stock of all series, or of any series thereof, or any part of any series thereof, at any time outstanding, may be redeemed by the corporation at its election expressed by resolution of the Board of Directors, at any time or from time to time, upon not less than 30 days' previous notice to the holders of record of Preferred Stock to be redeemed, given by mail in such manner as may be prescribed by resolution or resolutions of the Board of Directors:

(1) if such redemption shall be otherwise than by the application of moneys in any sinking fund referred to in paragraph (d) of this Article III, at the redemption price, fixed as provided in paragraph (b) of this Article III, at which shares of Preferred Stock of the particular series may then be redeemed at the option of the corporation, and

(2) if such redemption shall be by the application of moneys in any sinking fund referred to in paragraph (d) of this Article III, at the redemption price, fixed as provided in paragraph (b) of this Article III, at which shares of Preferred Stock of the particular series may then be redeemed for such sinking fund;

provided, however, that, before any Preferred Stock of any series shall be redeemed at said redemption price thereof specified in clause (1) of this paragraph (g), all moneys at the time in the sinking fund, if any, for Preferred Stock of that series shall first be applied, as nearly as may be, to the purchase or redemption of Preferred Stock of that series as provided in the resolution or resolutions of the Board of Directors providing for such sinking fund. If less than all the outstanding shares of Preferred Stock of any series are to be redeemed, the redemption may be made either by lot or pro rata in such manner as may be prescribed by resolution of the Board of Directors. The corporation may, if it shall so elect, provide moneys for the payment of the redemption price by depositing the amount thereof for the account of the holders of Preferred Stock entitled thereto with a bank or trust company doing business in Kansas City, Missouri and having capital and surplus of at least $5,000,000. The date upon which such deposit may be made by the corporation (hereinafter called the "date of deposit") shall be prior to the date fixed as the date of redemption but not earlier than the date on which notice thereof shall be given. In any such case there shall be included in the notice of redemption a statement of the date of deposit and of the name and address of the bank or trust company with which the deposit has been or will be made. On and after the date fixed in any such notice of redemption as the date of redemption (unless default shall be made by the corporation in providing moneys for the payment of the redemption price pursuant to such notice) or, if the corporation shall have made such deposit on or before the date specified therefor in the notice, then on and after the date of deposit, all rights of the holders of the Preferred Stock to be redeemed as stockholders of the corporation, except the right to receive the redemption price as hereinafter provided, and, in the case of such deposit, any conversion rights not theretofore expired, shall cease and terminate. Such conversion rights, however, in any event shall cease and terminate upon the date fixed for redemption or upon any earlier date fixed by the Board of Directors pursuant to para-graph (b) of this Article III for termination of such conversation rights. Anything herein contained to the contrary notwithstanding, said redemption price shall include an amount equal to accrued dividends on the Preferred Stock to be redeemed to the date fixed for the redemption thereof and the corporation shall not be required to declare or pay on such Preferred Stock to be redeemed, and the holders thereof shall not be entitled to receive, any dividends in addition to those thus included in the redemption price, provided, however, that the corporation may pay in regular course any dividends thus included in the redemption price either to the holders of record on the record date fixed for the determination of stockholders entitled to receive such dividends (in which event anything to the contrary notwithstanding, the amount so deposited need not include any dividends so paid or to be paid) or as a part of the redemption price upon

surrender of the certificates for the shares redeemed. At any time on or after the date fixed as aforesaid for such redemption or, if the corporation shall elect to deposit the moneys for such redemption as herein provided, then at any time on or after the date of deposit, and without awaiting the date fixed as aforesaid for such redemption, the respective holders of record of the Preferred Stock to be redeemed shall be entitled to receive the redemption price upon actual delivery to the corporation, or, in the event of such deposit, to the bank or trust company with which such deposit shall be made, of certificates for the shares to be redeemed, such certificates, if required, to be properly stamped for transfer and duly endorsed in blank or accompanied by proper instruments of assignment and transfer thereof duly executed in blank. Any funds deposited as aforesaid which shall not be required for such redemption, because of the exercise of any right of conversion or otherwise subsequent to the date of such deposit, shall be returned to the corporation forthwith. Any moneys so deposited which shall remain unclaimed by the holders of such Preferred Stock at the end of four years after the redemption date shall be paid by such bank or trust company to the corporation, after which such holders shall be deemed to be unsecured creditors of the corporation for a period of two years (after which all rights of such holders as unsecured creditors or otherwise shall cease) and any interest accrued on moneys so deposited shall belong to the corporation and shall be paid to it from time to time. Preferred stock redeemed pursuant to the provisions of this paragraph (g) shall be canceled and shall thereafter have the status of authorized and unissued shares of Preferred Stock.

(h) The term "date of cumulation" as used with reference to any series of Preferred Stock shall be deemed to mean the date fixed by the Board of Directors as the date of cumulation of such series at the time of the creation thereof or, if no date shall have been so fixed, the date on which shares of such series are first issued. Whenever used with reference to any share of any series of Preferred Stock, the term "full cumulative dividends" shall be deemed to mean (whether or not in any dividend period, or any part thereof, in respect of which such term is used there shall have been net profits or net assets of the corporation legally available for the payment of such dividends) that amount which shall be equal to dividends at the full rate fixed for such series as provided in paragraph (b) of this Article III for the period of time elapsed from the date of cumulation of such series to the date as of which full cumulative dividends are to be computed (including an amount equal to the dividend at such rate for any fraction of a dividend period included in such period of time); and the term "accrued dividends" shall be deemed to mean full cumulative dividends to the date as of which accrued dividends are to be computed, less the amount of all dividends paid, or deemed paid as hereinafter in this paragraph (h) provided, upon said share. In the event of the issue of additional shares of Preferred Stock of any series after the original issue of shares of Preferred Stock of such series, all dividends paid or accrued on Preferred Stock of such series prior to the date of issue of such additional Preferred Stock shall be deemed to have been paid on the additional Preferred Stock so issued.

(i) Subject to the provisions of these Articles of Incorporation and except as otherwise provided by law, the shares of stock of the corporation, regardless of class, may be issued for such consideration and for such corporation purposes as the Board of Directors may from time to time determine.

(j) Except as otherwise provided by law or by the resolution or resolutions providing for the issue of any series of Preferred Stock, the holders of shares of Preferred Stock, as such holders, shall not have any right to vote, and are hereby specifically excluded from the right to vote, in the election of directors or for any other purpose. Except when entitled to vote as aforesaid, the holders of Preferred Stock, as such holders, shall not be entitled to notice of any meeting of stockholders.

(k) Subject to the provisions of any applicable law, or of the By‑Laws of the corporation as from time to time amended, with respect to the closing of the transfer books or the fixing of a record date for the determination of stockholders entitled to vote and except as otherwise provided by law, or by these

Articles of Incorporation or by the resolution or resolutions providing for the issue of any series of Preferred Stock, the holders of outstanding shares of Common Stock shall exclusively possess voting power for the election of directors and for all other purposes, each holder of record of shares of Common Stock being entitled to one vote for each share of Common Stock standing in his name on the books of the corporation.

(l) Anything in this Article III to the contrary notwithstanding, dividends upon shares of any class of stock of the corporation shall be payable only out of assets legally available for the payment of such dividends, and the rights of the holders of the Preferred Stock of all series and of the holders of the Common Stock in respect of dividends shall at all times be subject to the power of the Board of Directors, which is hereby expressly vested in said Board, from time to time to set aside such reserves and to make such other provisions, if any, as said Board shall deem to be necessary or advisable, respecting the amount of working capital to be maintained.

ARTICLE IV

No holder of stock of the corporation of any class shall be entitled as a matter of right to subscribe for or purchase any part of any new or additional issue of stock, or securities convertible into stock, of any class whatsoever, whether now or hereafter authorized, and all such additional shares of stock or other securities convertible into stock may be issued and dis-posed of by the Board of Directors to such person or persons and on such terms and for such consideration (so far as may be permitted by law) as the Board of Directors, in their absolute discretion, may deem advisable.

ARTICLE V

The number and class of shares to be issued before the corporation shall commence business is Fifty (50) shares of common stock with a par value of Ten Dollars ($10) per share. The consideration to be paid therefor and the capital with which the corporation shall commence business is Five Hundred Dollars ($500). The corporation will not commence business until consideration of the value of at least Five Hundred Dollars has been received for the issuance of shares.

ARTICLE VI

The names and places of residence of the incorporators are as follows

NameResidence

James M. Kemper, Jr.6612 Wyoming

Kansas City, Missouri

P. V. Miller, Jr.2001 West 61st Terr.

Shawnee Mission, Kansas

T. Alan Peschka5744 Grand

Kansas City, Missouri

ARTICLE VII

The number of directors constituting the first board of directors of the corporation was three (3) and the number constituting the board at the time of the effectiveness of this amendment is twelve (12). The number of directors to constitute subsequent boards of directors shall be fixed by, or in the manner provided in, the By‑Laws of the corporation. Any changes in the number of directors shall be reported to the Secretary of State of the State of Missouri within thirty (30) calendar days of such change.

Unless the By‑Laws otherwise provide, the directors shall be classified with respect to the time for which they shall severally hold office by dividing them into three classes, each consisting of one‑third of the whole number of the board of directors, and all directors of the corporation shall hold office until their successors are elected and qualified. At the meeting held for the election of the first board, the directors of the first class should be elected for a term of one year; the directors of the second class for a term of two years; and the directors of the third class for a term of three years; and at each annual election the successors to the class of directors whose terms shall expire that year shall be elected to hold office for the term of three years, so that the term of office of one class of directors shall expire in each year.

Notwithstanding any other provisions of these Articles of Incorporation and notwithstanding the fact that some lesser percentage may be specified by law, the entire Board of Directors of the Corporation may be removed at any time but only by the affirmative vote of the holders of 80% or more of the outstanding shares of capital stock of the Corporation entitled to vote generally in the election of directors (considered for this purpose as one class) at a meeting of the shareholders called for that purpose.

ARTICLE VIII

The duration of the corporation is perpetual.

ARTICLE IX

The corporation is formed for the following purposes:

(a) To purchase, subscribe for or otherwise acquire and own, hold as an investment or otherwise, use, sell, assign, deal in, transfer, mortgage, pledge, exchange or otherwise dispose of, alone or in syndicates or otherwise in conjunction with others, shares of capital stock, bonds, debentures, notes, evidences of indebtedness and other securities, contracts or obligations of any corporation, association, partnership, entity, or govern-mental, municipal or public authority, domestic or foreign, and to pay therefor in whole or in part, in cash or by exchanging therefor shares of the capital stock, bonds, debentures, debenture stock, notes or other obligations of this corporation or any other corporation, and while the owner or holder of any such property to receive, collect and dispose of the interest, dividends and income arising from such property, and to possess and exercise in respect thereof all the rights, powers and privileges of ownership, including all voting powers of any securities so owned;

(b) To purchase or otherwise acquire the whole or any part of the property, assets, business, goodwill or rights and to undertake or assume the whole or any part of the bonds, mortgages, franchises, leases, contracts, indebtedness, guaranties, liabilities and obligations of any person, firm, association, corporation or organization, and to pay for the same or any part or combination thereof in cash, shares of the capital stock, bonds, debentures, debenture stock, notes, and other obligations of this corporation or otherwise, or by undertaking and assuming the whole or any part of the liabilities or obligations of the transferor; and to hold or in any manner dispose of the whole or any part of the property and assets so

acquired or purchased, and to conduct in any lawful manner the whole or any part of the business so acquired and to exercise all the powers necessary or convenient in and about the conduct, management and carrying on of such business;

(c) To purchase or otherwise acquire, hold, sell, pledge, transfer or otherwise dispose of, and to reissue or cancel the shares of its own capital stock or any securities or other obligations of this corporation;

(d) To promote or assist financially, by loan, subsidy, guaranty, contribution to capital or surplus, or otherwise, corporations, syndicates, partnerships, individuals or associations of all kinds, foreign or domestic, and in connection therewith to execute mortgages, deeds of trust, other forms of encumbrances, contracts and other types of written instruments;

(e) To purchase or otherwise acquire and own, hold, lease, develop, sell, exchange, or otherwise use, deal in or dispose of, mortgage or otherwise encumber, real property or any interest therein, and to purchase or otherwise acquire and own, hold, build, construct, erect, manage, operate, repair, restore, and to dispose of by sale, lease, mortgage or otherwise, buildings and structures of all types;

(f) To purchase or otherwise acquire and own, hold, lease, sell or otherwise use, deal in or dispose of, mortgage or other-wise encumber personal property of every kind and description or any interest therein, and to operate, manage and maintain the same;

(g) To acquire, own, hold, buy sell, transfer and otherwise dispose of patents and patent rights, trademarks and trade names, copyrights, licenses, franchises, permits and other evidences of right;

(h) In general, to carry on any other lawful business whatsoever in connection with the foregoing or which is calculated, directly or indirectly, to promote the interest of the corporation or to enhance the value of its properties;

(i) To have and to exercise all powers necessary or incident to carrying out its corporate purposes, to exercise all other powers permitted by law, and to possess and enjoy all rights and powers which now or at any time hereafter may be granted to or exercised by a corporation of this character.

ARTICLE X

The board of directors shall have the power to make, alter, amend or repeal the By‑Laws of the corporation from time to time.

ARTICLE XI

The corporation reserves the right to amend, alter, change or repeal any provisions contained in these Articles of Incorporation in the manner now or hereafter prescribed by law, and all rights conferred upon shareholders herein are granted subject to this reservation:

ARTICLE XII

The affirmative vote of the holders of not less than 75 percent of the outstanding shares of "Voting Stock" (as herein-after defined) of the corporation and the affirmative vote of the holders of not less than 67 percent of the outstanding shares of Voting Stock held by stockholders other than a "Related

Person" (as hereinafter defined) shall be required for the approval or authorization of any "Business Combination" (as hereinafter defined) of the corporation with any Related Person; provided however, that the 75 percent and 67 percent voting requirements shall not be applicable if:

(1) The "Continuing Directors" of the corporation (as hereinafter defined) by a two‑thirds vote (a) have expressly approved in advance the acquisition of outstanding shares of Voting Stock of the corporation that caused the Related Person to become a Related Person, or (b) have approved the Business Combination prior to the Related Person involved in the Business Combination having become a Related Person;

(2) The Business Combination is solely between the corporation and another corporation, 100 percent of the Voting Stock of which is owned directly or indirectly by the corporation; or

(3) The Business Combination is a merger or consolidation and the cash or fair market value of the property, securities or other consideration to be received per share by holders of common stock of the corporation in the Business Combination is not less than the highest per share price (with appropriate adjustments for recapitalizations and for stock splits, stock dividends and like distributions), paid by the Related Person in acquiring any of its holdings of the corporation's common stock.

For the purposes of this Article Twelfth:

(i) The term "Business Combination" shall mean (a) any merger or consolidation of the corporation or a subsidiary with or into a Related Person, (b) any sale, lease, exchange, transfer or other disposition, including without limitation a mortgage or any other security device, of all or any "Substantial Part" (as hereinafter defined) of the assets either of the corporation (including without limitation any voting securities of a subsidiary) or of a subsidiary, to a Related Person, (c) any merger or consolidation of a Related Person with or into the corporation or a subsidiary of the corporation, (d) any sale, lease, exchange, transfer or other disposition of all or any Substantial Part of the assets of a Related Person to the corporation or a subsidiary of the corporation, (e) the issuance of any securities of the corporation or a subsidiary of the corporation to a Related Person, (f) any recapitalization that would have the effect of increasing the voting power of a Related Person, and (g) any agreement, contract or other arrangement providing for any of the transactions described in this definition of Business Combination.

(ii) The term "Related Person" shall mean and include any individual corporation, partnership or other person or entity which, together with its "Affiliates" and "Associates" (as defined on February 1, 1983 at Rule 12b‑2 under the Securities Exchange Act of 1934), "Beneficially Owns" (as defined on February 1, 1983 at Rule 13d‑3 under the Securities Exchange Act of 1934) in the aggregate 20 percent or more of the outstanding Voting Stock of the corporation, and any Affiliate or Associate of any such individual corporation, partnership or other person or entity.

(iii) The term "Substantial Part" shall mean more than 30 percent of the fair market value of the total assets of the corporation in question, as of the end of its most recent fiscal year ending prior to the time the determination is being made.

(iv) Without limitation, any shares of common stock of the corporation that any Related Person has the right to acquire pursuant to any agreement, or upon exercise of conversion rights, warrants, or options, or otherwise, shall be deemed beneficially owned by the Related Person.

(v) For the purposes of subparagraph (3) of this Article XII, the term "other consideration to be received" shall include, without limitation, common stock of the corporation retained by its existing public stockholders in the event of a Business Combination in which the corporation is the surviving corporation.

(vi) The term "Voting Stock" shall mean all outstanding shares of capital stock of the corporation or another corporation entitled to vote generally in the election of directors and each reference to a proportion of shares of Voting Stock shall refer to such proportion of the votes entitled to be cast by such shares.

(vii) The term "Continuing Director" shall mean a Director who was a member of the Board of Directors of the corporation immediately prior to the time that the Related Person involved in a Business Combination became a Related Person.

ARTICLE XIII

The provisions set forth at this ARTICLE XIII and at ARTI-CLES VII, XI, and XII herein may not be repealed or amended in any respect, unless such action is approved by the affirmative vote of the holders of not less than 75 percent of the outstanding shares of Voting Stock (as defined in ARTICLE XII) of the corporation; provided, however, that if there is a Related Person (as defined in ARTICLE XII), such action must also be approved by the affirmative vote of the holders of not less than 67 percent of the outstanding shares of Voting Stock held by stockholders other than the Related Person.

EX-31.1

Exhibit 31.1

CERTIFICATION

I, John W. Kemper, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Commerce Bancshares, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	/s/ JOHN W. KEMPER
	John W. Kemper President and Chief Executive Officer
May 7, 2019

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Charles G. Kim, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Commerce Bancshares, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	/s/ CHARLES G. KIM
	Charles G. Kim Executive Vice President and Chief Financial Officer
May 7, 2019

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Commerce Bancshares, Inc. (the “Company”) on Form 10-Q for the period ended March 31, 2019 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), we, John W. Kemper and Charles G. Kim, Chief Executive Officer and Chief Financial Officer, respectively, of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of our knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

	/s/ JOHN W. KEMPER
	John W. Kemper Chief Executive Officer
	/s/ CHARLES G. KIM
	Charles G. Kim Chief Financial Officer
May 7, 2019

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 01, 2019
Document And Entity Information [Abstract]
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q1
Entity Registrant Name	COMMERCE BANCSHARES INC /MO/
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000022356
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		110,507,831
Entity Small Business	false
Entity Emerging Growth Company	false

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Loans	$ 14,120,722	$ 14,140,298
Allowance for loan losses	(160,682)	(159,932)
Net loans	13,960,040	13,980,366
Loans held for sale	20,085	20,694
Investment securities:
Debt Securities, Available-for-sale	8,627,890	8,538,041
Trading	30,427	27,059
Equity securities	4,694	4,409
Other securities	129,504	129,157
Total investment securities	8,792,515	8,698,666
Federal funds sold and short-term securities purchased under agreements to resell	250	3,320
Long-term securities purchased under agreements to resell	700,000	700,000
Interest earning deposits with banks	166,077	689,876
Cash and due from banks	428,018	507,892
Premises and equipment, net	362,679	333,119
Goodwill	138,921	138,921
Other intangible assets, net	8,511	8,794
Other assets	456,375	382,194
Total assets	25,033,471	25,463,842
Deposits:
Non-interest bearing	6,298,724	6,980,298
Savings, interest checking and money market	11,799,346	11,685,239
Certificates of deposit of less than $100,000	599,289	586,091
Certificates of deposit of $100,000 and over	1,276,994	1,072,031
Total deposits	19,974,353	20,323,659
Federal funds purchased and securities sold under agreements to repurchase	1,722,751	1,956,389
Other borrowings	2,022	8,702
Other liabilities	291,132	237,943
Total liabilities	21,990,258	22,526,693
Commerce Bancshares, Inc. stockholders' equity:
Preferred stock	144,784	144,784
Common stock	559,432	559,432
Capital surplus	2,074,912	2,084,824
Retained earnings	307,193	241,163
Treasury stock, at cost	(60,547)	(34,236)
Accumulated other comprehensive income (loss)	11,981	(64,669)
Total Commerce Bancshares, Inc. stockholders' equity	3,037,755	2,931,298
Non-controlling interest	5,458	5,851
Total equity	3,043,213	2,937,149
Total liabilities and equity	$ 25,033,471	$ 25,463,842

XML

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Mortgage Loans:
Mortgages Held-for-sale, Fair Value Disclosure	$ 8,908,000	$ 13,529,000
Investment Securities:
Available For Sale Securities Pledged To Secure Structured Repurchase Agreements	$ 312,276,000	$ 463,325,000
Stockholders' Equity:
Preferred stock, par value	$ 1.00	$ 1.00
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	6,000	6,000
Common stock, par value	$ 5.00	$ 5.00
Common Stock, Shares Authorized	120,000,000	120,000,000
Common stock, shares issued	111,886,450	111,886,450
Treasury stock, shares	985,029	555,100

XML

Consolidated Statements Of Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
INTEREST INCOME
Interest and fees on loans		$ 166,432	$ 147,015
Interest and fees on loans held for sale		334	304
Interest on investment securities		55,422	53,242
Interest on federal funds sold and short-term securities purchased under agreements to resell		33	180
Interest on long-term securities purchased under agreements to resell		3,758	4,114
Interest on deposits with banks		1,886	1,140
Total interest income		227,865	205,995
INTEREST EXPENSE
Savings, interest checking and money market		9,602	5,589
Certificates of deposit of less than $100,000		1,259	662
Certificates of deposit of $100,000 and over		6,002	2,839
Interest on federal funds purchased and securities sold under agreements to repurchase		7,509	4,001
Interest on other borrowings		5	12
Total interest expense		24,377	13,103
Net interest income		203,488	192,892
Provision for loan losses		12,463	10,396
Net interest income after provision for loan losses		191,025	182,496
NON-INTEREST INCOME
Bank card transaction fees		39,644	41,453
Trust fee revenue		37,256	36,062
Deposit fee revenue		23,018	22,982
Capital market fees		1,879	2,291
Consumer brokerage services		3,747	3,768
Loan fees and sales		3,309	2,862
Other		12,387	10,272
Total non-interest income		121,240	119,690
INVESTMENT SECURITIES GAINS (LOSSES), NET
Investment securities gains (losses), net	[1]	(925)	5,410
NON-INTEREST EXPENSE
Salaries and employee benefits		122,128	115,894
Net occupancy		11,501	11,584
Equipment		4,471	4,431
Supplies and communication		5,162	5,313
Data processing and software		22,260	20,690
Marketing		5,900	4,805
Deposit insurance		1,710	3,457
Community Service		803	729
Other		17,490	15,374
Total non-interest expense		191,425	182,277
Income before income taxes		119,915	125,319
Less income taxes		22,860	23,258
Net income		97,055	102,061
Less non-controlling interest expense (income)		(83)	1,077
Net income attributable to Commerce Bancshares, Inc.		97,138	100,984
Preferred Stock Dividends		2,250	2,250
Net Income (Loss) Available to Common Stockholders		$ 94,888	$ 98,734
Net income per common share - basic		$ 0.85	$ 0.88
Net income per common share - diluted		$ 0.85	$ 0.88

[1] Available for sale debt securities, equity securities, and other securities

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Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 97,055	$ 102,061
Other comprehensive income (loss)
Net unrealized gains (losses) on securities for which a portion of an other-than-temporary impairment has been recorded in earnings	41	45
Net unrealized gains (losses) on other securities	73,441	(73,721)
Pension loss amortization	389	393
Unrealized losses on cash flow hedge derivatives	2,779	0
Other comprehensive income (loss), net of tax	76,650	(73,283)
Comprehensive income	173,705	28,778
Non-controlling interest expense (income)	(83)	1,077
Comprehensive income attributable to Commerce Bancshares, Inc	$ 173,788	$ 27,701

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Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Capital Surplus [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-Controlling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2018-02 [Member]	$ 0				$ (2,932)		$ 2,932
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2016-01 [Member]	0				33,320		(33,320)
Balance at Dec. 31, 2017	2,718,184	$ 144,784	$ 535,407	$ 1,815,360	221,374	$ (14,473)	14,108	$ 1,624
Net income	102,061				100,984			1,077
Other comprehensive income (loss)	(73,283)						(73,283)
Distributions to non-controlling interest	(95)							(95)
Purchase of treasury stock	(17,067)					(17,067)
Issuance of stock under purchase and equity compensation plans	(6)			(15,865)		15,859
Stock-based compensation	3,290			3,290
Cash dividends per share, Common Stock, Cash	(25,106)				(25,106)
Dividends per share, Preferred Stock, Cash	(2,250)				(2,250)
Balance at Mar. 31, 2018	2,705,728	144,784	535,407	1,802,785	325,390	(15,681)	(89,563)	2,606
Balance at Dec. 31, 2018	2,937,149	144,784	559,432	2,084,824	241,163	(34,236)	(64,669)	5,851
Net income	97,055				97,138			(83)
Other comprehensive income (loss)	76,650						76,650
Distributions to non-controlling interest	(310)							(310)
Purchase of treasury stock	(39,699)					(39,699)
Issuance of stock under purchase and equity compensation plans	(4)			(13,392)		13,388
Stock-based compensation	3,480			3,480
Cash dividends per share, Common Stock, Cash	(28,858)				(28,858)
Dividends per share, Preferred Stock, Cash	(2,250)				(2,250)
Balance at Mar. 31, 2019	$ 3,043,213	$ 144,784	$ 559,432	$ 2,074,912	$ 307,193	$ (60,547)	$ 11,981	$ 5,458

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Consolidated Statements Of Changes In Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, per share, cash paid	$ 0.260	$ 0.224
Preferred Stock, Dividends, per share, cash paid	$ 0.375	$ 0.375

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Consolidated Statements Of Cash Flows - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
OPERATING ACTIVITIES:
Net income		$ 97,055	$ 102,061
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses		12,463	10,396
Provision for depreciation and amortization		9,966	9,620
Amortization of investment security premiums, net		9,998	7,233
Investment securities gains (losses), net	[1]	925	(5,410)
Net gains on sales of loans held for sale		(1,929)	(1,147)
Origination of loans held for sale		(46,454)	(44,066)
Proceeds from sales and repayments of held for sale		48,506	49,255
Net (increase) decrease in trading securities		4,632	(18,543)
Stock-based compensation		3,480	3,290
(Increase) decrease in interest receivable		(1,568)	744
Increase (decrease) in interest payable		2,708	(732)
Increase (decrease) in income taxes payable		20,479	22,076
Other changes, net		(18,080)	9,212
Net cash provided by (used in) operating activities		142,181	143,989
INVESTING ACTIVITIES:
Proceeds from sales of investment securities	[1]	150,756	148,652
Proceeds from maturities/pay downs of investment securities	[1]	252,824	358,690
Purchases of investment securities	[1]	(432,645)	(298,554)
Net (increase) decrease in loans		7,758	78,838
Purchases of land, buildings and equipment		(11,283)	(4,982)
Sales of land, buildings and equipment		1,268	718
Net cash provided by (used in) investing activities		(31,322)	283,362
FINANCING ACTIVITIES:
Net increase (decrease) in non-interest bearing, savings, interest checking and money market deposits		(620,589)	54,986
Net increase (decrease) in time open and C.D.'s		218,161	(9,961)
Net increase (decrease) in federal funds purchased and short-term securities sold under agreements to repurchase		(233,638)	(374,809)
Repayment of long-term borrowings		(54)	(74)
Proceeds from (Repayments of) Short-term Debt		(6,736)	7,530
Purchases of treasury stock		(39,699)	(17,067)
Issuance of stock under equity compensation plans		(4)	(6)
Cash dividends paid on common stock		(28,858)	(25,106)
Cash dividends paid on preferred stock		(2,250)	(2,250)
Net cash provided by (used in) financing activities		(713,667)	(366,757)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect		(602,808)	60,594
Cash, cash equivalents and restricted cash at beginning of year		1,209,240	524,352
Cash, cash equivalents and restricted cash at March 31		606,432	584,946
Supplemental Cash Flow Information:
Income tax payments, net		1,350	147
Interest paid on deposits and borrowings		21,668	13,835
Loans transferred to foreclosed real estate		$ 54	$ 1,028

[1] Available for sale debt securities, equity securities, and other securities

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Consolidated Statements Of Cash Flows Cash Flow Additional Information - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Restricted Cash and Cash Equivalents	$ 12.1	$ 10.2

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Principles Of Consolidation And Presentation

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles Of Consolidation And Presentation

Principles of Consolidation and Presentation

The accompanying consolidated financial statements include the accounts of Commerce Bancshares, Inc. and all majority-owned subsidiaries (the Company). Most of the Company's operations are conducted by its subsidiary bank, Commerce Bank (the Bank). The consolidated financial statements in this report have not been audited by an independent registered public accounting firm, but in the opinion of management, all adjustments necessary to present fairly the financial position and the results of operations for the interim periods have been made. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications were made to 2018 data to conform to current year presentation. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. Management has evaluated subsequent events for potential recognition or disclosure. The results of operations for the three month period ended March 31, 2019 are not necessarily indicative of results to be attained for the full year or any other interim period.

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's most recent Annual Report on Form 10-K, containing the latest audited consolidated financial statements and notes thereto.

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Loans And Allowance For Loan Losses

3 Months Ended

Mar. 31, 2019

Loans And Allowance For Loan Losses [Abstract]

Loans And Allowance For Loan Losses

Loans and Allowance for Loan Losses

Major classifications within the Company’s held for investment loan portfolio at March 31, 2019 and December 31, 2018 are as follows:

(In thousands)	March 31, 2019		December 31, 2018
Commercial:
Business	$	5,175,541	$	5,106,427
Real estate – construction and land	925,269		869,659
Real estate – business	2,859,614		2,875,788
Personal Banking:
Real estate – personal	2,125,087		2,127,083
Consumer	1,893,212		1,955,572
Revolving home equity	364,010		376,399
Consumer credit card	772,396		814,134
Overdrafts	5,593		15,236
Total loans	$	14,120,722	$	14,140,298

At March 31, 2019, loans of $3.8 billion were pledged at the Federal Home Loan Bank as collateral for borrowings and letters of credit obtained to secure public deposits. Additional loans of $1.6 billion were pledged at the Federal Reserve Bank as collateral for discount window borrowings.

Allowance for loan losses    

A summary of the activity in the allowance for loan losses during the three months ended March 31, 2019 and 2018, respectively, follows:

	For the Three Months Ended March 31
(In thousands)	Commercial			Personal Banking		Total
Balance at January 1	$	92,869		$	67,063	$	159,932
Provision	1,168			11,295		12,463
Deductions:
Loans charged off	527			14,204		14,731
Less recoveries on loans	133			2,885		3,018
Net loan charge-offs	394			11,319		11,713
Balance March 31, 2019	$	93,643		$	67,039	$	160,682
Balance at January 1	$	93,704		$	65,828	$	159,532
Provision	(894		)	11,290		10,396
Deductions:
Loans charged off	366			13,365		13,731
Less recoveries on loans	621			2,714		3,335
Net loan charge-offs (recoveries)	(255		)	10,651		10,396
Balance March 31, 2018	$	93,065		$	66,467	$	159,532

The following table shows the balance in the allowance for loan losses and the related loan balance at March 31, 2019 and December 31, 2018, disaggregated on the basis of impairment methodology. Impaired loans evaluated under Accounting Standards Codification (ASC) 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans deemed to have similar risk characteristics, which are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.

	Impaired Loans				All Other Loans
(In thousands)	Allowance for Loan Losses		Loans Outstanding		Allowance for Loan Losses		Loans Outstanding
March 31, 2019
Commercial	$	1,720	$	66,739	$	91,923	$	8,893,685
Personal Banking	923		17,433		66,116		5,142,865
Total	$	2,643	$	84,172	$	158,039	$	14,036,550
December 31, 2018
Commercial	$	1,780	$	61,496	$	91,089	$	8,790,378
Personal Banking	916		17,120		66,147		5,271,304
Total	$	2,696	$	78,616	$	157,236	$	14,061,682

Impaired loans

The table below shows the Company’s investment in impaired loans at March 31, 2019 and December 31, 2018. These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section below.

(In thousands)	Mar. 31, 2019		Dec. 31, 2018
Non-accrual loans	$	12,167	$	12,536
Restructured loans (accruing)	72,005		66,080
Total impaired loans	$	84,172	$	78,616

The following table provides additional information about impaired loans held by the Company at March 31, 2019 and December 31, 2018, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
March 31, 2019
With no related allowance recorded:
Business	$	8,381	$	14,376	$	—
	$	8,381	$	14,376	$	—
With an allowance recorded:
Business	$	46,736	$	46,873	$	1,241
Real estate – construction and land	414		419		11
Real estate – business	11,208		11,809		468
Real estate – personal	4,380		5,902		243
Consumer	5,365		5,365		34
Revolving home equity	39		39		1
Consumer credit card	7,649		7,649		645
	$	75,791	$	78,056	$	2,643
Total	$	84,172	$	92,432	$	2,643
December 31, 2018
With no related allowance recorded:
Business	$	8,725	$	14,477	$	—
	$	8,725	$	14,477	$	—
With an allowance recorded:
Business	$	40,286	$	40,582	$	1,223
Real estate – construction and land	416		421		11
Real estate – business	12,069		12,699		546
Real estate – personal	4,461		6,236		266
Consumer	5,510		5,510		38
Revolving home equity	40		40		1
Consumer credit card	7,109		7,109		611
	$	69,891	$	72,597	$	2,696
Total	$	78,616	$	87,074	$	2,696

Total average impaired loans for the three month periods ended March 31, 2019 and 2018, respectively, are shown in the table below.

(In thousands)	Commercial		Personal Banking		Total
Average Impaired Loans:
For the three months ended March 31, 2019
Non-accrual loans	$	10,347	$	1,973	$	12,320
Restructured loans (accruing)	53,607		15,437		69,044
Total	$	63,954	$	17,410	$	81,364
For the three months ended March 31, 2018
Non-accrual loans	$	8,523	$	2,928	$	11,451
Restructured loans (accruing)	79,258		18,773		98,031
Total	$	87,781	$	21,701	$	109,482

The table below shows interest income recognized during the three month periods ended March 31, 2019 and 2018, respectively, for impaired loans held at the end of each period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section below.

	For the Three Months Ended March 31
(In thousands)	2019		2018
Interest income recognized on impaired loans:
Business	$	1,008	$	760
Real estate – construction and land	6		24
Real estate – business	151		113
Real estate – personal	35		111
Consumer	80		80
Revolving home equity	1		2
Consumer credit card	146		128
Total	$	1,427	$	1,218

Delinquent and non-accrual loans

The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at March 31, 2019 and December 31, 2018.

(In thousands)	Current or Less Than 30 Days Past Due		30 – 89 Days Past Due		90 Days Past Due and Still Accruing		Non-accrual		Total
March 31, 2019
Commercial:
Business	$	5,154,124	$	12,178	$	670	$	8,569	$	5,175,541
Real estate – construction and land	924,028		1,237		—		4		925,269
Real estate – business	2,844,335		13,412		121		1,746		2,859,614
Personal Banking:
Real estate – personal	2,113,316		7,335		2,588		1,848		2,125,087
Consumer	1,866,038		24,905		2,269		—		1,893,212
Revolving home equity	362,373		1,167		470		—		364,010
Consumer credit card	751,639		10,220		10,537		—		772,396
Overdrafts	5,315		278		—		—		5,593
Total	$	14,021,168	$	70,732	$	16,655	$	12,167	$	14,120,722
December 31, 2018
Commercial:
Business	$	5,086,912	$	10,057	$	473	$	8,985	$	5,106,427
Real estate – construction and land	867,692		1,963		—		4		869,659
Real estate – business	2,867,347		6,704		22		1,715		2,875,788
Personal Banking:
Real estate – personal	2,118,045		6,041		1,165		1,832		2,127,083
Consumer	1,916,320		35,608		3,644		—		1,955,572
Revolving home equity	374,830		875		694		—		376,399
Consumer credit card	792,334		11,140		10,660		—		814,134
Overdrafts	14,937		299		—		—		15,236
Total	$	14,038,417	$	72,687	$	16,658	$	12,536	$	14,140,298

Credit quality

The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is applied to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.

Commercial Loans
(In thousands)	Business		Real  Estate-Construction		Real Estate- Business		Total
March 31, 2019
Pass	$	4,954,297	$	876,805	$	2,761,215	$	8,592,317
Special mention	119,582		47,397		49,151		216,130
Substandard	93,093		1,063		47,502		141,658
Non-accrual	8,569		4		1,746		10,319
Total	$	5,175,541	$	925,269	$	2,859,614	$	8,960,424
December 31, 2018
Pass	$	4,915,042	$	866,527	$	2,777,374	$	8,558,943
Special mention	84,391		1,917		51,845		138,153
Substandard	98,009		1,211		44,854		144,074
Non-accrual	8,985		4		1,715		10,704
Total	$	5,106,427	$	869,659	$	2,875,788	$	8,851,874

The credit quality of Personal Banking loans is monitored primarily on the basis of aging/delinquency, and this information is provided in the table in the above section on "Delinquent and non-accrual loans". In addition, FICO scores are obtained and updated on a quarterly basis for most of the loans in the Personal Banking portfolio. This is a published credit score designed to measure the risk of default by taking into account various factors from a borrower's financial history. The Bank normally obtains a FICO score at the loan's origination and renewal dates, and updates are obtained on a quarterly basis. Excluded from the table below are certain personal real estate loans for which FICO scores are not obtained because the loans generally pertain to commercial customer activities and are often underwritten with other collateral considerations. These loans totaled $196.4 million at March 31, 2019 and $201.7 million at December 31, 2018. The table also excludes consumer loans related to the Company's patient healthcare loan program, which totaled $167.2 million at March 31, 2019 and $170.3 million at December 31, 2018. As the healthcare loans are guaranteed by the hospital, customer FICO scores are not obtained for these loans. The personal real estate loans and consumer loans excluded below totaled less than 8% of the Personal Banking portfolio. For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at March 31, 2019 and December 31, 2018 by FICO score.

Personal Banking Loans
	% of Loan Category
	Real Estate - Personal		Consumer		Revolving Home Equity		Consumer Credit Card
March 31, 2019
FICO score:
Under 600	1.1	%	3.4	%	1.2	%	5.4	%
600 - 659	1.7		5.3		1.9		14.0
660 - 719	9.9		18.0		9.5		35.6
720 - 779	25.3		24.3		22.8		26.3
780 and over	62.0		49.0		64.6		18.7
Total	100.0	%	100.0	%	100.0	%	100.0	%
December 31, 2018
FICO score:
Under 600	1.1	%	3.1	%	0.8	%	4.4	%
600 - 659	1.8		4.8		1.7		14.0
660 - 719	9.4		16.1		9.1		34.8
720 - 779	24.7		25.7		24.0		26.4
780 and over	63.0		50.3		64.4		20.4
Total	100.0	%	100.0	%	100.0	%	100.0	%

Troubled debt restructurings

As mentioned previously, the Company's impaired loans include loans which have been classified as troubled debt restructurings, as shown in the table below. Restructured loans are those extended to borrowers who are experiencing financial difficulty and who have been granted a concession. Restructured loans are placed on non-accrual status if the Company does not believe it probable that amounts due under the contractual terms will be collected. Commercial performing restructured loans are primarily comprised of certain business, construction and business real estate loans classified as substandard, but renewed at rates judged to be non- market. These loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. Troubled debt restructurings also include certain credit card and other small consumer loans under various debt management and assistance programs. Modifications to these loans generally involve removing the available line of credit, placing loans on amortizing status, and lowering the contractual interest rate. The Company also classified as consumer bankruptcy certain personal real estate, revolving home equity, and consumer loans as troubled debt restructurings because they were not reaffirmed by the borrower in bankruptcy proceedings. Interest on these loans is being recognized on an accrual basis, as the borrowers are continuing to make payments. Other consumer loans classified as troubled debt restructurings consist of various other workout arrangements with consumer customers.

(In thousands)		March 31, 2019		December 31, 2018
Accruing restructured loans:
	Commercial	$	56,524	$	50,904
	Assistance programs	7,960		7,410
	Consumer bankruptcy	3,946		4,103
	Other consumer	3,575		3,663
Non-accrual loans		9,352		9,759
Total troubled debt restructurings		$	81,357	$	75,839

The table below shows the balance of troubled debt restructurings by loan classification at March 31, 2019, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.

(In thousands)	March 31, 2019		Balance 90 days past due at any time during previous 12 months
Commercial:
Business	$	54,928	$	—
Real estate - construction and land	411		—
Real estate - business	9,462		—
Personal Banking:
Real estate - personal	3,503		217
Consumer	5,365		47
Revolving home equity	39		—
Consumer credit card	7,649		685
Total troubled debt restructurings	$	81,357	$	949

For those loans on non-accrual status also classified as restructured, the modification did not create any further financial effect on the Company as those loans were already recorded at net realizable value. For those performing commercial loans classified as restructured, there were no concessions involving forgiveness of principal or interest and, therefore, there was no financial impact to the Company as a result of modification to these loans. No financial impact resulted from those performing loans where the debt was not reaffirmed in bankruptcy, as no changes to loan terms occurred in that process. However, the effects of modifications to loans under various debt management and assistance programs were estimated to decrease interest income by approximately $1.0 million on an annual, pre-tax basis, compared to amounts contractually owed. Other modifications to consumer loans mainly involve extensions and other small modifications that did not include the forgiveness of principal or interest.

The allowance for loan losses related to troubled debt restructurings on non-accrual status is determined by individual evaluation, including collateral adequacy, using the same process as loans on non-accrual status which are not classified as troubled debt restructurings. Those performing loans classified as troubled debt restructurings are accruing loans which management expects to collect under contractual terms. Performing commercial loans having no other concessions granted other than being renewed at non-market interest rates are judged to have similar risk characteristics as non-troubled debt commercial loans and are collectively evaluated based on internal risk rating, loan type, delinquency, historical experience and current economic factors. Performing personal banking loans classified as troubled debt restructurings resulted from the borrower not reaffirming the debt during bankruptcy and have had no other concession granted, other than the Bank's future limitations on collecting payment deficiencies or in pursuing foreclosure actions. As such, they have similar risk characteristics as non-troubled debt personal banking loans and are evaluated collectively based on loan type, delinquency, historical experience and current economic factors.

If a troubled debt restructuring defaults and is already on non-accrual status, the allowance for loan losses continues to be based on individual evaluation, using discounted expected cash flows or the fair value of collateral. If an accruing troubled debt restructuring defaults, the loan's risk rating is downgraded to non-accrual status and the loan's related allowance for loan losses is determined based on individual evaluation, or if necessary, the loan is charged off and collection efforts begun.

The Company had commitments of $2.7 million at March 31, 2019 to lend additional funds to borrowers with restructured loans.

Loans held for sale

The Company designates certain long-term fixed rate personal real estate loans as held for sale, and the Company has elected the fair value option for these loans. The election of the fair value option aligns the accounting for these loans with the related economic hedges discussed in Note 11. The loans are primarily sold to FNMA, FHLMC, and GNMA. At March 31, 2019, the fair value of these loans was $8.9 million, and the unpaid principal balance was $8.5 million.

The Company also designates certain student loan originations as held for sale. The borrowers are credit-worthy students who are attending colleges and universities. The loans are intended to be sold in the secondary market, and the Company maintains contracts with Sallie Mae to sell the loans within 210 days after the last disbursement to the student. These loans are carried at lower of cost or fair value, which at March 31, 2019 totaled $11.2 million.

At March 31, 2019, none of the loans held for sale were on non-accrual status or 90 days past due and still accruing.

Foreclosed real estate/repossessed assets

The Company’s holdings of foreclosed real estate totaled $737 thousand and $1.4 million at March 31, 2019 and December 31, 2018, respectively. Personal property acquired in repossession, generally autos, marine and recreational vehicles (RV), totaled $2.6 million and $2.0 million at March 31, 2019 and December 31, 2018, respectively. Upon acquisition, these assets are recorded at fair value less estimated selling costs at the date of foreclosure, establishing a new cost basis. They are subsequently carried at the lower of this cost basis or fair value less estimated selling costs.

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Investment Securities

3 Months Ended

Mar. 31, 2019

Investment Securities [Abstract]

Investment Securities

Investment Securities

Investment securities consisted of the following at March 31, 2019 and December 31, 2018.

(In thousands)	March 31, 2019		December 31, 2018
Available for sale debt securities	$	8,627,890	$	8,538,041
Trading debt securities	30,427		27,059
Equity securities:
Readily determinable fair value	2,808		2,585
No readily determinable fair value	1,886		1,824
Other:
Federal Reserve Bank stock	33,627		33,498
Federal Home Loan Bank stock	10,000		10,000
Private equity investments	85,877		85,659
Total investment securities	$	8,792,515	$	8,698,666

The Company has elected to measure equity securities with no readily determinable fair value at cost minus impairment, if any, plus or minus changes resulting from observable price changes for the identical or similar investment of the same issuer. The Company did not record any impairment or other adjustments to the carrying amount of these investments during the period.

Other investment securities include Federal Reserve Bank (FRB) stock, Federal Home Loan Bank (FHLB) stock, and investments in portfolio concerns held by the Company's private equity subsidiaries. FRB stock and FHLB stock are held for debt and regulatory purposes. Investment in FRB stock is based on the capital structure of the investing bank, and investment in FHLB stock is tied to the level of borrowings from the FHLB. These holdings are carried at cost. The private equity investments, in the absence of readily ascertainable market values, are carried at estimated fair value.

The majority of the Company’s investment portfolio is comprised of available for sale debt securities, which are carried at fair value with changes in fair value reported in accumulated other comprehensive income (AOCI). A summary of the available for sale debt securities by maturity groupings as of March 31, 2019 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, GNMA and FDIC, in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by commercial and residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral.

(In thousands)	Amortized Cost		Fair Value
U.S. government and federal agency obligations:
Within 1 year	$	29,484	$	29,341
After 1 but within 5 years	588,651		597,792
After 5 but within 10 years	249,143		250,788
Total U.S. government and federal agency obligations	867,278		877,921
Government-sponsored enterprise obligations:
Within 1 year	36,442		36,176
After 1 but within 5 years	85,155		84,759
After 5 but within 10 years	34,986		34,974
After 10 years	42,913		42,070
Total government-sponsored enterprise obligations	199,496		197,979
State and municipal obligations:
Within 1 year	87,817		88,067
After 1 but within 5 years	663,990		675,122
After 5 but within 10 years	440,363		454,085
After 10 years	56,231		56,926
Total state and municipal obligations	1,248,401		1,274,200
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,416,497		3,412,399
Non-agency mortgage-backed securities	1,056,738		1,060,008
Asset-backed securities	1,470,541		1,470,516
Total mortgage and asset-backed securities	5,943,776		5,942,923
Other debt securities:
Within 1 year	22,497		22,412
After 1 but within 5 years	245,030		244,892
After 5 but within 10 years	67,995		67,563
Total other debt securities	335,522		334,867
Total available for sale debt securities	$	8,594,473	$	8,627,890

Investments in U.S. government and federal agency obligations include U.S. Treasury inflation-protected securities, which totaled $446.9 million, at fair value, at March 31, 2019. Interest paid on these securities increases with inflation and decreases with deflation, as measured by the Consumer Price Index. Included in state and municipal obligations are $14.5 million, at fair value, of auction rate securities, which were purchased from bank customers in 2008. Interest on these bonds is currently being paid at the maximum failed auction rates.

For debt securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in AOCI, by security type.

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2019
U.S. government and federal agency obligations	$	867,278	$	11,844	$	(1,201	)	$	877,921
Government-sponsored enterprise obligations	199,496		258		(1,775		)	197,979
State and municipal obligations	1,248,401		26,485		(686		)	1,274,200
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,416,497		19,977		(24,075		)	3,412,399
Non-agency mortgage-backed securities	1,056,738		9,833		(6,563		)	1,060,008
Asset-backed securities	1,470,541		5,536		(5,561		)	1,470,516
Total mortgage and asset-backed securities	5,943,776		35,346		(36,199		)	5,942,923
Other debt securities	335,522		645		(1,300		)	334,867
Total	$	8,594,473	$	74,578	$	(41,161	)	$	8,627,890
December 31, 2018
U.S. government and federal agency obligations	$	914,486	$	4,545	$	(11,379	)	$	907,652
Government-sponsored enterprise obligations	199,470		55		(3,747		)	195,778
State and municipal obligations	1,322,785		10,284		(5,030		)	1,328,039
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,253,433		9,820		(48,268		)	3,214,985
Non-agency mortgage-backed securities	1,053,854		6,641		(12,779		)	1,047,716
Asset-backed securities	1,518,976		3,849		(11,211		)	1,511,614
Total mortgage and asset-backed securities	5,826,263		20,310		(72,258		)	5,774,315
Other debt securities	339,595		72		(7,410		)	332,257
Total	$	8,602,599	$	35,266	$	(99,824	)	$	8,538,041

The Company’s impairment policy requires a review of all securities for which fair value is less than amortized cost. Special emphasis and analysis is placed on securities whose credit rating has fallen below Baa3 (Moody's) or BBB- (Standard & Poor's), whose fair values have fallen more than 20% below purchase price for an extended period of time, or who have been identified based on management’s judgment. These securities are placed on a watch list, and for all such securities, cash flow analyses are prepared. For more complex analyses, detailed cash flow models are prepared which use inputs specific to each security. Inputs to these models include factors such as cash flow received, contractual payments required, and various other information related to the underlying collateral (including current delinquencies), collateral loss severity rates (including loan to values), expected delinquency rates, credit support from other tranches, and prepayment speeds. Stress tests are performed at varying levels of delinquency rates, prepayment speeds and loss severities in order to gauge probable ranges of credit loss. At March 31, 2019, the fair value of securities on this watch list was $55.0 million compared to $57.7 million at December 31, 2018.

As of March 31, 2019, the Company had recorded other-than-temporary impairment (OTTI) on certain non-agency mortgage-backed securities with a current par value of $22.2 million. These securities, which are part of the watch list mentioned above, had an aggregate fair value of $17.3 million at March 31, 2019. The cumulative credit-related portion of the impairment on these securities, which was recorded in earnings, totaled $14.1 million. The Company does not intend to sell these securities and believes it is not likely that it will be required to sell the securities before the recovery of their amortized cost.

The credit-related portion of the loss on these securities was based on the cash flows projected to be received over the estimated life of the securities, discounted to present value, and compared to the current amortized cost bases of the securities. Significant inputs to the cash flow models used to calculate the credit losses on these securities at March 31, 2019 included the following:

Significant Inputs	Range
Prepayment CPR	0%	-	37%
Projected cumulative default	8%	-	50%
Credit support	0%	-	20%
Loss severity	11%	-	63%

The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings on all available for sale debt securities.

	For the Three Months Ended March 31
(In thousands)	2019			2018
Cumulative OTTI credit losses at January 1	$	14,092		$	14,199
Credit losses on debt securities for which impairment was not previously recognized	—			58
Credit losses on debt securities for which impairment was previously recognized	—			10
Increase in expected cash flows that are recognized over remaining life of security	(33		)	(54		)
Cumulative OTTI credit losses at March 31	$	14,059		$	14,213

Debt securities with unrealized losses recorded in AOCI are shown in the table below, along with the length of the impairment period.

	Less than 12 months				12 months or longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
March 31, 2019
U.S. government and federal agency obligations	$	3,200	$	26	$	114,835	$	1,175	$	118,035	$	1,201
Government-sponsored enterprise obligations	34,974		12		139,959		1,763		174,933		1,775
State and municipal obligations	13,907		3		110,737		683		124,644		686
Mortgage and asset-backed securities:
Agency mortgage-backed securities	156,031		326		1,706,133		23,749		1,862,164		24,075
Non-agency mortgage-backed securities	47,338		41		639,311		6,522		686,649		6,563
Asset-backed securities	219,611		931		726,118		4,630		945,729		5,561
Total mortgage and asset-backed securities	422,980		1,298		3,071,562		34,901		3,494,542		36,199
Other debt securities	35,967		32		170,424		1,268		206,391		1,300
Total	$	511,028	$	1,371	$	3,607,517	$	39,790	$	4,118,545	$	41,161
December 31, 2018
U.S. government and federal agency obligations	$	317,699	$	6,515	$	116,728	$	4,864	$	434,427	$	11,379
Government-sponsored enterprise obligations	—		—		188,846		3,747		188,846		3,747
State and municipal obligations	157,838		704		257,051		4,326		414,889		5,030
Mortgage and asset-backed securities:
Agency mortgage-backed securities	330,933		1,502		1,927,268		46,766		2,258,201		48,268
Non-agency mortgage-backed securities	207,506		1,085		657,685		11,694		865,191		12,779
Asset-backed securities	147,997		728		813,427		10,483		961,424		11,211
Total mortgage and asset-backed securities	686,436		3,315		3,398,380		68,943		4,084,816		72,258
Other debt securities	51,836		564		260,682		6,846		312,518		7,410
Total	$	1,213,809	$	11,098	$	4,221,687	$	88,726	$	5,435,496	$	99,824

Theavailable for sale debt portfolio included $4.1 billion of securities that were in a loss position at March 31, 2019, compared to $5.4 billion at December 31, 2018.  The total amount of unrealized loss on these securities was $41.2 million at March 31, 2019, a decrease of $58.7 million compared to the loss at December 31, 2018.  This decrease in losses was mainly due to a declining interest rate environment at March 31, 2019. 

The following tables present proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings.

	For the Three Months Ended March 31
(In thousands)	2019			2018
Proceeds from sales of securities:
Available for sale debt securities	$	150,756		$	148,637
Equity securities	—			15
Total proceeds	$	150,756		$	148,652
Investment securities gains (losses), net:
Available for sale debt securities:
Gains realized on sales	$	1,386		$	212
Losses realized on sales	(692		)	—
Other-than-temporary impairment recognized on debt securities	—			(68		)
Equity securities:
Gains realized on sales	—			14
Fair value adjustments, net	223			947
Other:
Fair value adjustments, net	(1,842		)	4,305
Total investment securities gains (losses), net	$	(925	)	$	5,410

Net gains and losses on investment securities for the three months ended March 31, 2019 included losses in fair value of $1.8 million on private equity investments, gains of $223 thousand on equity securities, and net gains of $694 thousand realized on sales of available for sale securities.

At March 31, 2019, securities totaling $4.0 billion in fair value were pledged to secure public fund deposits, securities sold under agreements to repurchase, trust funds, and borrowings at the FRB and FHLB. Securities pledged under agreements pursuant to which the collateral may be sold or re-pledged by the secured parties approximated $312.3 million, while the remaining securities were pledged under agreements pursuant to which the secured parties may not sell or re-pledge the collateral. Except for obligations of various government-sponsored enterprises such as FNMA, FHLB and FHLMC, no investment in a single issuer exceeded 10% of stockholders’ equity.

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Goodwill And Other Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets

Goodwill and Other Intangible Assets

The following table presents information about the Company's intangible assets which have estimable useful lives.

	March 31, 2019										December 31, 2018
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount		Gross Carrying Amount		Accumulated Amortization			Valuation Allowance		Net Amount
Amortizable intangible assets:
Core deposit premium	$	31,270	$	(29,100	)	$	—		$	2,170	$	31,270	$	(28,954	)	$	—	$	2,316
Mortgage servicing rights	10,658		(4,057		)	(260		)	6,341		10,339		(3,861		)	—		6,478
Total	$	41,928	$	(33,157	)	$	(260	)	$	8,511	$	41,609	$	(32,815	)	$	—	$	8,794

Aggregate amortization expense on intangible assets was $342 thousand and $321 thousand for the three month periods ended March 31, 2019 and 2018, respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of March 31, 2019. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.

(In thousands)
2019	$	1,381
2020	1,215
2021	1,032
2022	882
2023	736

Changes in the carrying amount of goodwill and net other intangible assets for the three month period endedMarch 31, 2019 are as follows:

(In thousands)	Goodwill		Core Deposit Premium			Mortgage Servicing Rights
Balance January 1, 2019	$	138,921	$	2,316		$	6,478
Originations	—		—			319
Amortization	—		(146		)	(196		)
Impairment	—		—			(260		)
Balance March 31, 2019	$	138,921	$	2,170		$	6,341

Goodwill allocated to the Company’s operating segments at March 31, 2019 and December 31, 2018 is shown below.

(In thousands)
Consumer segment	$	70,721
Commercial segment	67,454
Wealth segment	746
Total goodwill	$	138,921

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Guarantees

3 Months Ended

Mar. 31, 2019

Guarantees [Abstract]

Guarantees

Guarantees

The Company, as a provider of financial services, routinely issues financial guarantees in the form of financial and performance standby letters of credit. Standby letters of credit are contingent commitments issued by the Company generally to guarantee the payment or performance obligation of a customer to a third party. While these represent a potential outlay by the Company, a significant amount of the commitments may expire without being drawn upon. The Company has recourse against the customer for any amount it is required to pay to a third party under a standby letter of credit. The letters of credit are subject to the same credit policies, underwriting standards and approval process as loans made by the Company. Most of the standby letters of credit are secured, and in the event of nonperformance by customers, the Company has rights to the underlying collateral, which could include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities.

Upon issuance of standby letters of credit, the Company recognizes a liability for the fair value of the obligation undertaken, which is estimated to be equivalent to the amount of fees received from the customer over the life of the agreement. At March 31, 2019, that net liability was $2.2 million, which will be accreted into income over the remaining life of the respective commitments. The contractual amount of these letters of credit, which represents the maximum potential future payments guaranteed by the Company, was $325.6 million at March 31, 2019.

The Company periodically enters into credit risk participation agreements (RPAs) as a guarantor to other financial institutions, in order to mitigate those institutions’ credit risk associated with interest rate swaps with third parties. The RPA stipulates that, in the event of default by the third party on the interest rate swap, the Company will reimburse a portion of the loss borne by the financial institution. These interest rate swaps are normally collateralized (generally with real property, inventories and equipment) by the third party, which limits the credit risk associated with the Company’s RPAs. The third parties usually have other borrowing relationships with the Company. The Company monitors overall borrower collateral and at March 31, 2019, believes sufficient collateral is available to cover potential swap losses. The RPAs are carried at fair value throughout their term with all changes in fair value, including those due to a change in the third party’s creditworthiness, recorded in current earnings. The terms of the RPAs, which correspond to the terms of the underlying swaps, range from 2 to 11 years. At March 31, 2019, the fair value of the Company's guarantee liabilities for RPAs was $110 thousand, and the notional amount of the underlying swaps was $86.6 million. The maximum potential future payment guaranteed by the Company cannot be readily estimated but is dependent upon the fair value of the interest rate swaps at the time of default.

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Leases Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

Leases

The Company adopted ASU 2016-02, "Leases", and its related amendments on January 1, 2019 using a modified retrospective approach. The Company's leasing activities include leasing certain real estate and equipment, providing lease financing to commercial customers, and leasing office space to third parties. The Company adopted the package of practical expedients permitted within the new standard, along with the lease component expedient for all lease classes and the disclosure expedient. The Company uses the FHLB fixed-advance rate at lease commencement or remeasurement event based on the remaining lease term to calculate the liability for each lease.

Lessee

The Company primarily has operating leases for branches, office space, ATM locations, and certain equipment. As of March 31, 2019, the right-of-use asset, reported within premises and equipment, net, and lease liability, reported within other liabilities, recognized on the Company's consolidated balance sheets totaled $27.1 million and $27.8 million, respectively. For leases with a term of 12 months or less, an election was made not to recognize lease assets and lease liabilities for all asset classes, and to recognize lease expense for these leases on a straight-line basis over the lease term. Total lease cost for the three months ended March 31, 2019 was $1.8 million. The Company's leases have remaining terms of 1 year to 35 years, most of which contain renewal options. However, the renewal options are generally not included in the leased asset or liability because exercising the options are uncertain.

The maturities of operating leases are included in the table below.

(in thousands)	Operating Leases(a)
2019 (excluding the three months ended March 31, 2019)	$	4,279
2020	5,034
2021	4,203
2022	3,725
2023	3,406
After 2023	14,878
Total lease payments	$	35,525
Less: Interest(b)	7,719
Present value of lease liabilities	$	27,806

(a) Excludes $2.1 million of legally binding minimum lease payments for operating leases signed but not yet commenced.

(b) Calculated using the interest rate for each lease.

The following table presents the average lease term and discount rate of operating leases.

	March 31, 2019
Weighted-average remaining lease term	12.1 years
Weighted-average discount rate	3.76	%

Supplemental cash flow information related to operating leases is included in the table below.

	For the Three Months Ended March 31
(in thousands)	2019
Operating cash paid toward lease liabilities	$	1,491
Leased assets obtained in exchange for new lease liabilities	$	1,022

The Company adopted the new lease standard using the effective date as the date of initial application as noted above, and as required, the table below provides the disclosure for periods prior to adoption. Future minimum lease payments as of December 31, 2018 are shown below, which include leases that have not yet commenced.

(in thousands)
Year Ended December 31	Total
2019	$	5,763
2020	4,817
2021	4,055
2022	3,598
2023	3,273
After	15,161
Total minimum lease payments	$	36,667

Lessor

The Company has net investments in direct financing and sales-type leases to commercial, industrial, and tax-exempt entities. These leases are included within business loans on the Company's consolidated balance sheets. The Company primarily leases various types of equipment, trucks and trailers, and office furniture and fixtures. Lease agreements may include options to renew or for the lessee to purchase the leased equipment at the end of the lease term. The Company has elected to adopt the lease component expedient in which the lease and nonlease components are combined into the total lease receivable. The Company also leases office space in buildings owned by the Company to third parties and are classified as operating leases. The leases may include options to expand the leased space or renew the lease, and currently the leases have remaining terms of 1 year to 9 years.

The following table provides the components of lease income.

	For the Three Months Ended March 31
(in thousands)	2019
Direct financing and sales-type leases	5,862
Operating leases(a)	1,906
Total lease income	$	7,768

(a) Includes rent of $19 thousand from Tower Properties Company, a related party.

The following table presents the components of the net investments in direct financing and sales-type leases.

(in thousands)	March 31, 2019
Lease payment receivable	$	716,103
Unguaranteed residual assets	49,347
Total net investments in direct financing and sales-type leases	$	765,450
Deferred origination cost	3,071
Total net investment included within business loans	$	768,521

The maturities of lease receivables are included in the table below.

(in thousands)	Direct Financing and Sale-Type Leases		Operating Leases		Total
2019 (excluding the three months ended March 31, 2019)	$	164,086	$	5,555	$	169,641
2020	182,611		7,051		189,662
2021	139,036		6,994		146,030
2022	101,070		13,329		114,399
2023	70,967		5,127		76,094
After 2023	121,057		13,467		134,524
Total lease receipts	778,827		$	51,523	$	830,350
Less: Net present value adjustment	62,724
Present value of lease receipts	$	716,103

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Pension

3 Months Ended

Mar. 31, 2019

Pension [Abstract]

Pension

Pension

The amount of net pension cost is shown in the table below:

	For the Three Months Ended March 31
(In thousands)	2019			2018
Service cost - benefits earned during the period	$	159		$	153
Interest cost on projected benefit obligation	1,065			950
Expected return on plan assets	(1,196		)	(1,437		)
Amortization of prior service cost	(68		)	(68		)
Amortization of unrecognized net loss	586			592
Net periodic pension cost	$	546		$	190

All benefits accrued under the Company’s defined benefit pension plan have been frozen since January 1, 2011. During the first three months of 2019, the Company made no funding contributions to its defined benefit pension plan and made minimal funding contributions to a supplemental executive retirement plan (the CERP), which carries no segregated assets.

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Common Stock

3 Months Ended

Mar. 31, 2019

Common Stock [Abstract]

Common Stock

Common Stock *

Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 13.

	For the Three Months Ended March 31
(In thousands, except per share data)	2019		2018
Basic income per common share:
Net income attributable to Commerce Bancshares, Inc.	$	97,138	$	100,984
Less preferred stock dividends	2,250		2,250
Net income available to common shareholders	94,888		98,734
Less income allocated to nonvested restricted stock	944		1,121
Net income allocated to common stock	$	93,944	$	97,613
Weighted average common shares outstanding	110,011		110,916
Basic income per common share	$	.85	$	.88
Diluted income per common share:
Net income available to common shareholders	$	94,888	$	98,734
Less income allocated to nonvested restricted stock	943		1,118
Net income allocated to common stock	$	93,945	$	97,616
Weighted average common shares outstanding	110,011		110,916
Net effect of the assumed exercise of stock-based awards - based on
the treasury stock method using the average market price for the respective periods	290		348
Weighted average diluted common shares outstanding	110,301		111,264
Diluted income per common share	$	.85	$	.88

Unexercised stock appreciation rights of 282 thousand and 276 thousand were excluded from the computation of diluted income per common share for the three month periods ended March 31, 2019 and 2018, respectively, because their inclusion would have been anti-dilutive.

In the Annual Meeting of the Shareholders, held on April 17, 2019, a proposal to increase the shares of Company common stock authorized for issuance under its articles of incorporation was approved. This approval increased the authorized shares from 120,000,000 to 140,000,000.

* All prior year share and per share amounts in this note have been restated for the 5% common stock dividend distributed in December 2018.

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Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

The table below shows the activity and accumulated balances for components of other comprehensive income. The largest component is the unrealized holding gains and losses on available for sale debt securities. Unrealized gains and losses on debt securities for which an other-than-temporary impairment (OTTI) has been recorded in current earnings are shown separately below. Another component is the amortization from other comprehensive income of losses associated with pension benefits, which occurs as the losses are included in current net periodic pension cost. The remaining component is gains and losses in fair value on certain interest rate floors that have been designated as cash flow hedging instruments.

	Unrealized Gains (Losses) on Securities (1)						Pension Loss			Unrealized Gains (Losses) on Cash Flow Hedge Derivatives (2)			Total Accumulated Other Comprehensive Income (Loss)
(In thousands)	OTTI			Other
Balance January 1, 2019	$	3,861		$	(52,278	)	$	(23,107	)	$	6,855		$	(64,669	)
Other comprehensive income before reclassifications to current earnings	55			98,614			—			3,027			101,696
Amounts reclassified to current earnings from accumulated other comprehensive income	—			(694		)	518			678			502
Current period other comprehensive income, before tax	55			97,920			518			3,705			102,198
Income tax expense	(14		)	(24,479		)	(129		)	(926		)	(25,548		)
Current period other comprehensive income, net of tax	41			73,441			389			2,779			76,650
Balance March 31, 2019	$	3,902		$	21,163		$	(22,718	)	$	9,634		$	11,981
Balance January 1, 2018	$	3,411		$	30,326		$	(19,629	)	$	—		$	14,108
ASU 2018-02 Reclassification of tax rate change	715			6,359			(4,142		)	—			2,932
ASU 2016-01 Reclassification of unrealized gain on equity securities	—			(33,320		)	—			—			(33,320		)
Other comprehensive loss before reclassifications to current earnings	(8		)	(98,081		)	—			—			(98,089		)
Amounts reclassified to current earnings from accumulated other comprehensive income	68			(212		)	524			—			380
Current period other comprehensive income (loss), before tax	60			(98,293		)	524			—			(97,709		)
Income tax (expense) benefit	(15		)	24,572			(131		)	—			24,426
Current period other comprehensive income (loss), net of tax	45			(73,721		)	393			—			(73,283		)
Transfer of unrealized gain on securities for which impairment was not previously recognized	12			(12		)	—			—			—
Balance March 31, 2018	$	4,183		$	(70,368	)	$	(23,378	)	$	—		$	(89,563	)

(1) The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings are included in "investment securities gains (losses), net" in the consolidated statements of income.

(2) The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings are included in "interest and fees on loans" in the consolidated statements of income.

The requirement to revalue deferred tax assets and liabilities in the period of enactment stranded the effects of the tax rate change, mandated by the Tax Cuts and Jobs Act, in accumulated other comprehensive income. In response, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which the Company adopted on January 1, 2018. This ASU allowed the reclassification of the stranded tax effects from accumulated other comprehensive income (as shown in the table above) to retained earnings.

New accounting guidance, which was effective January 1, 2018, required the reclassification of unrealized gains on equity securities from accumulated other comprehensive income to retained earnings (also shown above).

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Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segments

Segments

The Company segregates financial information for use in assessing its performance and allocating resources among three operating segments: Consumer, Commercial and Wealth. The Consumer segment consists of various consumer loan and deposit products offered through its retail branch network of approximately 170 locations.  This segment also includes indirect and other consumer loan financing businesses, along with debit and credit card loan and fee businesses.  Residential mortgage origination, sales and servicing functions are included in this Consumer segment, but residential mortgage loans retained by the Company are not considered part of this segment.  The Commercial segment provides corporate lending, leasing, and international services, along with business and governmental deposit products and commercial cash management services.  This segment includes both merchant and commercial bank card products. It also includes the Capital Markets Group which sells fixed income securities and provides safekeeping and accounting services to its business and correspondent bank customers.  The Wealth segment provides traditional trust and estate planning, advisory and discretionary investment management, and brokerage services.  This segment also provides various loan and deposit related services to its private banking customers.

The following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these changes are reflected in prior year information presented below.

(In thousands)	Consumer			Commercial			Wealth			Segment Totals			Other/Elimination			Consolidated Totals
Three Months Ended March 31, 2019
Net interest income	$	76,897		$	85,848		$	11,676		$	174,421		$	29,067		$	203,488
Provision for loan losses	(11,049		)	(618		)	33			(11,634		)	(829		)	(12,463		)
Non-interest income	29,171			47,915			44,332			121,418			(178		)	121,240
Investment securities losses, net	—			—			—			—			(925		)	(925		)
Non-interest expense	(73,508		)	(76,838		)	(30,892		)	(181,238		)	(10,187		)	(191,425		)
Income before income taxes	$	21,511		$	56,307		$	25,149		$	102,967		$	16,948		$	119,915
Three Months Ended March 31, 2018
Net interest income	$	71,021		$	82,584		$	11,445		$	165,050		$	27,842		$	192,892
Provision for loan losses	(10,373		)	180			(64		)	(10,257		)	(139		)	(10,396		)
Non-interest income	30,216			49,209			42,103			121,528			(1,838		)	119,690
Investment securities gains, net	—			—			—			—			5,410			5,410
Non-interest expense	(69,919		)	(72,778		)	(31,825		)	(174,522		)	(7,755		)	(182,277		)
Income before income taxes	$	20,945		$	59,195		$	21,659		$	101,799		$	23,520		$	125,319

The information presented above was derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. This information is based on internal management accounting procedures and methods, which have been developed to reflect the underlying economics of the businesses. The methodologies are applied in connection with funds transfer pricing and assignment of overhead costs among segments. Funds transfer pricing was used in the determination of net interest income by assigning a standard cost (credit) for funds used (provided) by assets and liabilities based on their maturity, prepayment and/or repricing characteristics.

The segment activity, as shown above, includes both direct and allocated items. Amounts in the “Other/Elimination” column include activity not related to the segments, such as that relating to administrative functions, the investment securities portfolio, and the effect of certain expense allocations to the segments. The provision for loan losses in this category contains the difference between net loan charge-offs assigned directly to the segments and the recorded provision for loan loss expense. Included in this category’s net interest income are earnings of the investment portfolio, which are not allocated to a segment.

The performance measurement of the operating segments is based on the management structure of the Company and is not necessarily comparable with similar information for any other financial institution. The information is also not necessarily indicative of the segments' financial condition and results of operations if they were independent entities.

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Derivative Instruments

3 Months Ended

Mar. 31, 2019

Derivative Instrument Detail [Abstract]

Derivative Instruments

Derivative Instruments

The notional amounts of the Company’s derivative instruments are shown in the table below. These contractual amounts, along with other terms of the derivative, are used to determine amounts to be exchanged between counterparties and are not a measure of loss exposure. At March 31, 2019, with the exception of the interest rate floors (discussed below), the Company’s derivative instruments are accounted for as free-standing derivatives, and changes in their fair value are recorded in current earnings.

(In thousands)	March 31, 2019		December 31, 2018
Interest rate swaps	$	2,007,799	$	2,006,280
Interest rate floors	1,000,000		1,000,000
Interest rate caps	61,696		62,163
Credit risk participation agreements	142,266		143,460
Foreign exchange contracts	6,710		6,206
Mortgage loan commitments	22,496		14,544
Mortgage loan forward sale contracts	2,657		5,768
Forward TBA contracts	33,503		16,500
Total notional amount	$	3,277,127	$	3,254,921

The largest group of notional amounts relate to interest rate swap contracts sold to commercial customers who wish to modify their interest rate sensitivity. The customers are engaged in a variety of businesses, including real estate, manufacturing, retail product distribution, education, and retirement communities. These customer swaps are offset by matching contracts purchased by the Company from other financial dealer institutions. Contracts with dealers that require central clearing are novated to a clearing agency who becomes the Company's counterparty. Because of the matching terms of the offsetting contracts, in addition to collateral provisions which mitigate the impact of non-performance risk, changes in fair value subsequent to initial recognition have a minimal effect on earnings.

Many of the Company’s interest rate swap contracts with large financial institutions contain contingent features relating to debt ratings or capitalization levels. Under these provisions, if the Company’s debt rating falls below investment grade or if the Company ceases to be “well-capitalized” under risk-based capital guidelines, certain counterparties can require immediate and ongoing collateralization on interest rate swaps in net liability positions or instant settlement of the contracts. The Company maintains debt ratings and capital well above these minimum requirements.

As of March 31, 2019, the Company has entered into interest rate floors with a combined notional value of $1.0 billion, to hedge the risk of declining interest rates on certain floating rate commercial loans. The premiums paid for these floors totaled $20.7 million with purchased strike rates that ranged from 2.50% to 2.25%. As of March 31, 2019, the maximum length of time over which the Company is hedging its exposure to the variability in future cash flows is approximately 6.4 years, and the floors are forward starting, beginning in 2020. The interest rate floors qualified and were designated as cash flow hedges and were assessed for effectiveness using regression analysis. The change in the fair value of the interest rate floors are recorded in AOCI, net of the amortization of the premium paid, which is recorded against interest and fees on loans in the consolidated statements of income. As of March 31, 2019, net deferred gains on the interest rate floors totaled $12.8 million (pre-tax) and was recorded in AOCI in the consolidated balance sheet. As of March 31, 2019, it is expected that $2.8 million (pre-tax) of interest rate floor premium amortization will be reclassified from AOCI into earnings over the next twelve months.

In April 2019, the Company entered into an additional interest rate floor with a notional value of $500.0 million and a premium paid of $10.7 million with a purchased strike rate of 2.0%. The floor is forward starting, beginning in 2020 and matures in 2026.

The Company also contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps through risk participation agreements. The Company’s risks and responsibilities as guarantor are further discussed in Note 5 on Guarantees. In addition, the Company enters into foreign exchange contracts, which are mainly comprised of contracts to purchase or deliver foreign currencies for customers at specific future dates.

Under its program to sell residential mortgage loans in the secondary market, the Company designates certain newly-originated residential mortgage loans as held for sale. Derivative instruments arising from this activity include mortgage loan commitments and forward loan sale contracts. Changes in the fair values of the loan commitments and funded loans prior to sale that are due to changes in interest rates are economically hedged with forward contracts to sell residential mortgage-backed securities in the to-be-announced (TBA) market. These forward TBA contracts are also considered to be derivatives and are settled in cash at the security settlement date.

The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Information about the valuation methods used to determine fair value is provided in Note 16 on Fair Value Measurements in the 2018 Annual Report on Form 10-K.

The Company's policy is to present its derivative assets and derivative liabilities on a gross basis in its consolidated balance sheets, and these are reported in other assets and other liabilities. Effective January 2017, certain collateral posted to and from the Company's clearing counterparty has been offset against the fair values of cleared swaps, such that at March 31, 2019 in the table below, the positive fair values of cleared swaps were reduced by $3.8 million and the negative fair values of cleared swaps were reduced by $12.4 million. At December 31, 2018, the positive fair values of cleared swaps were reduced by $8.1 million and the negative fair values of cleared swaps were reduced by $6.5 million.

	Asset Derivatives				Liability Derivatives
	Mar. 31, 2019		Dec. 31, 2018		Mar. 31, 2019			Dec. 31, 2018
(In thousands)	Fair Value				Fair Value
Derivatives designated as hedging instruments:
Interest rate floors	$	32,058	$	29,031	$	—		$	—
Total derivatives designated as hedging instruments	$	32,058	$	29,031	$	—		$	—
Derivative instruments not designated as hedging instruments:
Interest rate swaps	$	18,641	$	11,537	$	(9,970	)	$	(13,110	)
Interest rate caps	8		24		(8		)	(24		)
Credit risk participation agreements	92		47		(110		)	(93		)
Foreign exchange contracts	44		20		(16		)	(8		)
Mortgage loan commitments	823		536		—			—
Mortgage loan forward sale contracts	22		15		—			(8		)
Forward TBA contracts	3		—		(196		)	(178		)
Total derivatives not designated as hedging instruments	$	19,633	$	12,179	$	(10,300	)	$	(13,421	)
Total	$	51,691	$	41,210	$	(10,300	)	$	(13,421	)

The pre-tax effects of derivative instruments on the consolidated statements of income are shown in the tables below.

	Amount of Gain or (Loss) Recognized in OCI							Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
	For the Three Months Ended								For the Three Months Ended
	March 31, 2019								March 31, 2019
(In thousands)	Total		Included Component		Excluded Component				Total			Included Component		Excluded Component
Derivatives in cash flow hedging relationships:
Interest rate floors*	$	3,027	$	10,873	$	(7,846	)	Interest and fees on loans	$	(678	)	$	—	$	(678	)
Total	$	3,027	$	10,873	$	(7,846	)		$	(678	)	$	—	$	(678	)

* No hedging relationship existed during the three months ended March 31, 2018.

	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended March 31
(In thousands)		2019			2018
Derivative instruments:
Interest rate swaps	Other non-interest income	$	303		$	505
Credit risk participation agreements	Other non-interest income	28			164
Foreign exchange contracts	Other non-interest income	16			9
Mortgage loan commitments	Loan fees and sales	287			1
Mortgage loan forward sale contracts	Loan fees and sales	16			—
Forward TBA contracts	Loan fees and sales	(266		)	542
Total		$	384		$	1,221

The following table shows the extent to which assets and liabilities relating to derivative instruments have been offset in the consolidated balance sheets. It also provides information about these instruments which are subject to an enforceable master netting arrangement, irrespective of whether they are offset, and the extent to which the instruments could potentially be offset. Also shown is collateral received or pledged in the form of other financial instruments, which is generally cash or marketable securities. The collateral amounts in this table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus, amounts of excess collateral are not shown. Most of the derivatives in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default.

Collateral exchanged between the Company and dealer bank counterparties is generally subject to thresholds and transfer minimums, and usually consists of marketable securities. By contract, these may be sold or re-pledged by the secured party until recalled at a subsequent valuation date by the pledging party. For those swap transactions requiring central clearing, the Company posts cash or securities to its clearing agent. Collateral positions are valued daily, and adjustments to amounts received and pledged by the Company are made as appropriate to maintain proper collateralization for these transactions. Swap derivative transactions with customers are generally secured by rights to non-financial collateral, such as real and personal property, which is not shown in the table below.

							Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset			Collateral Received/Pledged			Net Amount
March 31, 2019
Assets:
Derivatives subject to master netting agreements	50,792		—		50,792		(4,695		)	(28,385		)	17,712
Derivatives not subject to master netting agreements	899		—		899
Total derivatives	51,691		—		51,691
Liabilities:
Derivatives subject to master netting agreements	10,203		—		10,203		(4,695		)	(199		)	5,309
Derivatives not subject to master netting agreements	97		—		97
Total derivatives	10,300		—		10,300
December 31, 2018
Assets:
Derivatives subject to master netting agreements	$	40,613	$	—	$	40,613	$	(2,992	)	$	(26,174	)	$	11,447
Derivatives not subject to master netting agreements	597		—		597
Total derivatives	41,210		—		41,210
Liabilities:
Derivatives subject to master netting agreements	$	13,333	$	—	$	13,333	$	(2,992	)	$	(261	)	$	10,080
Derivatives not subject to master netting agreements	88		—		88
Total derivatives	13,421		—		13,421

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Resale and Repurchase Agreements (Notes)

3 Months Ended

Mar. 31, 2019

Resale and Repurchase Agreements [Abstract]

Resale and Repurchase Agreements [Text Block]

Resale and Repurchase Agreements

The following table shows the extent to which assets and liabilities relating to securities purchased under agreements to resell (resale agreements) and securities sold under agreements to repurchase (repurchase agreements) have been offset in the consolidated balance sheets, in addition to the extent to which they could potentially be offset. Also shown is collateral received or pledged, which consists of marketable securities. The collateral amounts in the table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus, amounts of excess collateral are not shown. The agreements in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default.

Resale and repurchase agreements are agreements to purchase/sell securities subject to an obligation to resell/repurchase the same or similar securities. They are accounted for as collateralized financing transactions, not as sales and purchases of the securities portfolio. The securities collateral accepted or pledged in resale and repurchase agreements with other financial institutions also may be sold or re-pledged by the secured party but is usually delivered to and held by third party trustees. The Company generally retains custody of securities pledged for repurchase agreements with customers.

The Company is party to several agreements commonly known as collateral swaps. These agreements involve the exchange of collateral under simultaneous repurchase and resale agreements with the same financial institution counterparty. These repurchase and resale agreements have the same principal amounts, inception dates, and maturity dates and have been offset against each other in the consolidated balance sheets, as permitted under the netting provisions of ASC 210-20-45. The collateral swaps totaled $300.0 million at March 31, 2019 and $450.0 million at December 31, 2018. At March 31, 2019, the Company had posted collateral of $312.2 million in marketable securities, consisting of agency mortgage-backed bonds and treasuries, and had accepted $302.3 million in investment grade asset-backed, commercial mortgage-backed, and corporate bonds.

								Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset		Securities Collateral Received/Pledged			Net Amount
March 31, 2019
Total resale agreements, subject to master netting arrangements	$	1,000,000	$	(300,000	)	$	700,000	$	—	$	(700,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	1,760,376		(300,000		)	1,460,376		—		(1,460,376		)	—
December 31, 2018
Total resale agreements, subject to master netting arrangements	$	1,150,000	$	(450,000	)	$	700,000	$	—	$	(700,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	2,393,219		(450,000		)	1,943,219		—		(1,943,219		)	—

The table below shows the remaining contractual maturities of repurchase agreements outstanding at March 31, 2019 and December 31, 2018, in addition to the various types of marketable securities that have been pledged by the Company as collateral for these borrowings.

	Remaining Contractual Maturity of the Agreements
(In thousands)	Overnight and continuous		Up to 90 days		Greater than 90 days		Total
March 31, 2019
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	280,854	$	101,727	$	—	$	382,581
Government-sponsored enterprise obligations	47,900		—		—		47,900
Agency mortgage-backed securities	702,596		75,702		211,750		990,048
Non-agency mortgage-backed securities	135,495		—		—		135,495
Asset-backed securities	67,987		40,000		—		107,987
Other debt securities	96,365		—		—		96,365
Total repurchase agreements, gross amount recognized	$	1,331,197	$	217,429	$	211,750	$	1,760,376
December 31, 2018
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	387,541	$	150,000	$	100,000	$	637,541
Government-sponsored enterprise obligations	18,466		—		—		18,466
Agency mortgage-backed securities	882,744		31,774		213,752		1,128,270
Non-agency mortgage-backed securities	187,740		—		—		187,740
Asset-backed securities	322,680		—		—		322,680
Other debt securities	98,522		—		—		98,522
Total repurchase agreements, gross amount recognized	$	1,897,693	$	181,774	$	313,752	$	2,393,219

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Stock-Based Compensation

3 Months Ended

Mar. 31, 2019

Share-based Compensation [Abstract]

Stock-Based Compensation

Stock-Based Compensation

The Company issues stock-based compensation in the form of nonvested restricted stock and stock appreciation rights (SARs). Most of the awards are issued during the first quarter of each year. The stock-based compensation expense that has been charged against income was $3.5 million and $3.3 million in the three months ended March 31, 2019 and 2018, respectively.

Nonvested stock awards generally vest in 4 to 7 years and contain restrictions as to transferability, sale, pledging, or assigning, among others, prior to the end of the vesting period. Dividend and voting rights are conferred upon grant. A summary of the status of the Company’s nonvested share awards as of March 31, 2019, and changes during the three month period then ended, is presented below.

	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019	1,180,940		$43.24
Granted	178,446		61.87
Vested	(291,519	)	32.68
Forfeited	(3,246	)	49.41
Nonvested at March 31, 2019	1,064,621		$49.23

SARs are granted with exercise prices equal to the market price of the Company’s stock at the date of grant. SARs vest ratably over 4 years of continuous service and have 10-year contractual terms. All SARs must be settled in stock under provisions of the plan. In determining compensation cost, the Black-Scholes option-pricing model is used to estimate the fair value of SARs on date of grant. The current year per share average fair value and the model assumptions are shown in the table below.

Weighted per share average fair value at grant date		$11.92
Assumptions:
Dividend yield	1.7		%
Volatility	19.8		%
Risk-free interest rate	2.6		%
Expected term	6.0 years

A summary of SAR activity during the first three months of 2019 is presented below.

(Dollars in thousands, except per share data)	Rights		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2019	1,066,438		$40.22
Granted	186,825		61.76
Forfeited	(1,479	)	51.16
Expired	(682	)	41.81
Exercised	(95,934	)	34.27
Outstanding at March 31, 2019	1,155,168		$44.19	7.1 years	$	16,717

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Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue from Contracts with Customers

The core principle of ASU 2014-09, "Revenue from Contracts with Customers," is that an entity should recognize revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For the three months ended March 31, 2019, approximately 63% of the Company’s total revenue was comprised of net interest income, which is not within the scope of this guidance. Of the remaining revenue, those items that were subject to this guidance mainly included fees for bank card, trust, deposit account services and consumer brokerage services.

The following table disaggregates non-interest income subject to ASU 2014-09 by major product line.

	Three Months Ended March 31
(In thousands)	2019		2018
Bank card transaction fees	$	39,644	$	41,453
Trust fees	37,256		36,062
Deposit account charges and other fees	23,018		22,982
Consumer brokerage services	3,747		3,768
Other non-interest income	8,372		7,311
Total non-interest income from contracts with customers	112,037		111,576
Other non-interest income (a)	9,203		8,114
Total non-interest income	$	121,240	$	119,690

(a) This revenue is not within the scope of ASU 2014-09, and includes fees relating to capital market activities, loan fees and sales, derivative instruments, standby letters of credit and various other transactions.

For bank card transaction fees, the majority of debit and credit card fees are earned in the Consumer segment, while corporate card and merchant fees are earned in the Commercial segment. The Consumer and Commercial segments each contribute approximately half of the Company's deposit account charge revenue. All trust fees and nearly all of the consumer brokerage services income are earned in the Wealth segment.    

The following table presents the opening and closing receivable balances for the three month periods endedMarch 31, 2019 and 2018 for the Company’s significant revenue categories subject to ASU 2014-09.

(In thousands)	March 31, 2019		December 31, 2018		March 31, 2018		December 31, 2017
Bank card transaction fees	$	11,016	$	13,035	$	10,978	$	13,315
Trust fees	2,720		2,721		3,116		2,802
Deposit account charges and other fees	5,265		6,107		4,682		5,597
Consumer brokerage services	526		559		690		380

For these revenue categories, none of the transaction price has been allocated to performance obligations that are unsatisfied as of the end of a reporting period.

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Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Measurements [Abstract]

Fair Value Measurements

Fair Value Measurements

The Company uses fair value measurements to record fair value adjustments to certain financial and nonfinancial assets and liabilities and to determine fair value disclosures. Various financial instruments such as available for sale debt securities, equity securities, trading debt securities, certain investments relating to private equity activities, and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets and liabilities on a nonrecurring basis, such as mortgage servicing rights and certain other investment securities. These nonrecurring fair value adjustments typically involve lower of cost or fair value accounting or write-downs of individual assets.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, the Company uses various valuation techniques and assumptions when estimating fair value. For accounting disclosure purposes, a three-level valuation hierarchy of fair value measurements has been established. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:

• Level 1 – inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.

• Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and inputs that are observable for the assets or liabilities, either directly or indirectly (such as interest rates, yield curves, and prepayment speeds).

• Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value. These may be internally developed, using the Company’s best information and assumptions that a market participant would consider.

The valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis are described in the Fair Value Measurements note in the Company's 2018 Annual Report on Form 10-K. There have been no significant changes in these methodologies since then.

Instruments Measured at Fair Value on a Recurring Basis

The table below presents the March 31, 2019 and December 31, 2018 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first three months of 2019 or the year ended December 31, 2018.

			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)
March 31, 2019
Assets:
Residential mortgage loans held for sale	$	8,908	$	—	$	8,908	$	—
Available for sale debt securities:
U.S. government and federal agency obligations	877,921		877,921		—		—
Government-sponsored enterprise obligations	197,979		—		197,979		—
State and municipal obligations	1,274,200		—		1,259,671		14,529
Agency mortgage-backed securities	3,412,399		—		3,412,399		—
Non-agency mortgage-backed securities	1,060,008		—		1,060,008		—
Asset-backed securities	1,470,516		—		1,470,516		—
Other debt securities	334,867		—		334,867		—
Trading debt securities	30,427		—		30,427		—
Equity securities	2,808		2,808		—		—
Private equity investments	85,877		—		—		85,877
Derivatives *	51,691		—		50,776		915
Assets held in trust for deferred compensation plan	14,897		14,897		—		—
Total assets	8,822,498		895,626		7,825,551		101,321
Liabilities:
Derivatives *	10,300		—		10,190		110
Liabilities held in trust for deferred compensation plan	14,897		14,897		—		—
Total liabilities	$	25,197	$	14,897	$	10,190	$	110
December 31, 2018
Assets:
Residential mortgage loans held for sale	$	13,529	$	—	$	13,529	$	—
Available for sale debt securities:
U.S. government and federal agency obligations	907,652		907,652		—		—
Government-sponsored enterprise obligations	195,778		—		195,778		—
State and municipal obligations	1,328,039		—		1,313,881		14,158
Agency mortgage-backed securities	3,214,985		—		3,214,985		—
Non-agency mortgage-backed securities	1,047,716		—		1,047,716		—
Asset-backed securities	1,511,614		—		1,511,614		—
Other debt securities	332,257		—		332,257		—
Trading debt securities	27,059		—		27,059		—
Equity securities	2,585		2,585		—		—
Private equity investments	85,659		—		—		85,659
Derivatives *	41,210		—		40,627		583
Assets held in trust for deferred compensation plan	12,968		12,968		—		—
Total assets	8,721,051		923,205		7,697,446		100,400
Liabilities:
Derivatives *	13,421		—		13,328		93
Liabilities held in trust for deferred compensation plan	12,968		12,968		—		—
Total liabilities	$	26,389	$	12,968	$	13,328	$	93

* The fair value of each class of derivative is shown in Note 11.

The 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
For the three months ended March 31, 2019
Balance January 1, 2019	$	14,158	$	85,659		$	490		$	100,307
Total gains or losses (realized/unrealized):
Included in earnings	—		(1,842		)	315			(1,527		)
Included in other comprehensive income *	364		—			—			364
Discount accretion	7		—			—			7
Purchases of private equity investments	—		2,060			—			2,060
Balance March 31, 2019	$	14,529	$	85,877		$	805		$	101,211
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at March 31, 2019	$	—	$	(1,842	)	$	851		$	(991	)
For the three months ended March 31, 2018
Balance January 1, 2018	$	17,016	$	55,752		$	503		$	73,271
Total gains or losses (realized/unrealized):
Included in earnings	—		4,305			165			4,470
Included in other comprehensive income *	133		—			—			133
Discount accretion	9		—			—			9
Purchases of private equity investments	—		4,879			—			4,879
Sale/pay down of private equity investments	—		(20		)	—			(20		)
Capitalized interest/dividends	—		35			—			35
Sale of risk participation agreement	—		—			(148		)	(148		)
Balance March 31, 2018	$	17,158	$	64,951		$	520		$	82,629
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at March 31, 2018	$	—	$	4,305		$	745		$	5,050

* Included in "net unrealized gains (losses) on other securities" in the consolidated statements of comprehensive income.

Gains and losses included in earnings for the Level 3 assets and liabilities in the previous table are reported in the following line items in the consolidated statements of income:

(In thousands)	Loan Fees and Sales		Other Non-Interest Income		Investment Securities Gains (Losses), Net			Total
For the three months ended March 31, 2019
Total gains or losses included in earnings	$	287	$	28	$	(1,842	)	$	(1,527	)
Change in unrealized gains or losses relating to assets still held at March 31, 2019	$	823	$	28	$	(1,842	)	$	(991	)
For the three months ended March 31, 2018
Total gains or losses included in earnings	$	2	$	163	$	4,305		$	4,470
Change in unrealized gains or losses relating to assets still held at March 31, 2018	$	582	$	163	$	4,305		$	5,050

Level 3 Inputs

The Company's significant Level 3 measurements which employ unobservable inputs that are readily quantifiable pertain to auction rate securities (ARS) held by the Bank, investments in portfolio concerns held by the Company's private equity subsidiaries, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $14.5 million at March 31, 2019, while private equity investments, included in other securities, totaled $85.9 million.

Information about these inputs is presented in the table and discussions below.

Quantitative Information about Level 3 Fair Value Measurements						Weighted
	Valuation Technique	Unobservable Input	Range			Average
Auction rate securities	Discounted cash flow	Estimated market recovery period	4	-	5 years
		Estimated market rate	3.4%	-	4.3%
Private equity investments	Market comparable companies	EBITDA multiple	4.0	-	6.0
Mortgage loan commitments	Discounted cash flow	Probability of funding	50.8%	-	99.1%	79.3%
		Embedded servicing value	.6%	-	2.4%	1.3%

Instruments Measured at Fair Value on a Nonrecurring Basis

For assets measured at fair value on a nonrecurring basis during the first three months of 2019 and 2018, and still held as of March 31, 2019 and 2018, the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation inputs used to determine each adjustment, and the carrying value of the related individual assets or portfolios at March 31, 2019 and 2018.

			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) Recognized During the Three Months Ended March 31
March 31, 2019
Collateral dependent impaired loans	$	129	$	—	$	—	$	129	$	170
Mortgage servicing rights	6,341		—		—		6,341		(260		)
Long-lived assets	134		—		—		134		(14		)
March 31, 2018
Collateral dependent impaired loans	$	39	$	—	$	—	$	39	$	(12	)
Mortgage servicing rights	5,105		—		—		5,105		9
Long-lived assets	914		—		—		914		(552		)

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Fair Value Of Financial Instruments

3 Months Ended

Mar. 31, 2019

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 Company prospectively adopted ASU 2016-01 on January 1, 2018. In accordance with its requirements, the fair value of loans as of March 31, 2019 and December 31, 2018 were measured using an exit price notion.

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 at March 31, 2019 and December 31, 2018:

	Carrying Amount		Estimated Fair Value at March 31, 2019
(In thousands)			Level 1		Level 2		Level 3		Total
Financial Assets
Loans:
Business	$	5,175,541	$	—	$	—	$	5,110,404	$	5,110,404
Real estate - construction and land	925,269		—		—		922,877		922,877
Real estate - business	2,859,614		—		—		2,847,793		2,847,793
Real estate - personal	2,125,087		—		—		2,076,475		2,076,475
Consumer	1,893,212		—		—		1,851,010		1,851,010
Revolving home equity	364,010		—		—		359,856		359,856
Consumer credit card	772,396		—		—		720,563		720,563
Overdrafts	5,593		—		—		3,994		3,994
Total loans	14,120,722		—		—		13,892,972		13,892,972
Loans held for sale	20,085		—		20,085		—		20,085
Investment securities	8,792,515		880,729		7,765,867		145,919		8,792,515
Federal funds sold	250		250		—		—		250
Securities purchased under agreements to resell	700,000		—		—		700,588		700,588
Interest earning deposits with banks	166,077		166,077		—		—		166,077
Cash and due from banks	428,018		428,018		—		—		428,018
Derivative instruments	51,691		—		50,776		915		51,691
Assets held in trust for deferred compensation plan	14,897		14,897		—		—		14,897
Total	$	24,294,255	$	1,489,971	$	7,836,728	$	14,740,394	$	24,067,093
Financial Liabilities
Non-interest bearing deposits	$	6,298,724	$	6,298,724	$	—	$	—	$	6,298,724
Savings, interest checking and money market deposits	11,799,346		11,799,346		—		—		11,799,346
Certificates of deposit	1,876,283		—		—		1,887,103		1,887,103
Federal funds purchased	262,375		262,375		—		—		262,375
Securities sold under agreements to repurchase	1,460,376		—		—		1,461,343		1,461,343
Other borrowings	1,932		—		1,035		897		1,932
Derivative instruments	10,300		—		10,190		110		10,300
Liabilities held in trust for deferred compensation plan	14,897		14,897		—		—		14,897
Total	$	21,724,233	$	18,375,342	$	11,225	$	3,349,453	$	21,736,020

	Carrying Amount		Estimated Fair Value at December 31, 2018
(In thousands)			Level 1		Level 2		Level 3		Total
Financial Assets
Loans:
Business	$	5,106,427	$	—	$	—	$	5,017,694	$	5,017,694
Real estate - construction and land	869,659		—		—		868,274		868,274
Real estate - business	2,875,788		—		—		2,846,095		2,846,095
Real estate - personal	2,127,083		—		—		2,084,370		2,084,370
Consumer	1,955,572		—		—		1,916,627		1,916,627
Revolving home equity	376,399		—		—		365,069		365,069
Consumer credit card	814,134		—		—		756,651		756,651
Overdrafts	15,236		—		—		11,223		11,223
Total loans	14,140,298		—		—		13,866,003		13,866,003
Loans held for sale	20,694		—		20,694		—		20,694
Investment securities	8,698,666		910,237		7,643,290		145,139		8,698,666
Federal funds sold	3,320		3,320		—		—		3,320
Securities purchased under agreements to resell	700,000		—		—		693,228		693,228
Interest earning deposits with banks	689,876		689,876		—		—		689,876
Cash and due from banks	507,892		507,892		—		—		507,892
Derivative instruments	41,210		—		40,627		583		41,210
Assets held in trust for deferred compensation plan	12,968		12,968		—		—		12,968
Total	$	24,814,924	$	2,124,293	$	7,704,611	$	14,704,953	$	24,533,857
Financial Liabilities
Non-interest bearing deposits	$	6,980,298	$	6,980,298	$	—	$	—	$	6,980,298
Savings, interest checking and money market deposits	11,685,239		11,685,239		—		—		11,685,239
Certificates of deposit	1,658,122		—		—		1,663,748		1,663,748
Federal funds purchased	13,170		13,170		—		—		13,170
Securities sold under agreements to repurchase	1,943,219		—		—		1,944,458		1,944,458
Other borrowings	8,702		—		7,751		951		8,702
Derivative instruments	13,421		—		13,328		93		13,421
Liabilities held in trust for deferred compensation plan	12,968		12,968		—		—		12,968
Total	$	22,315,139	$	18,691,675	$	21,079	$	3,609,250	$	22,322,004

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Legal and Regulatory Proceedings (Notes)

3 Months Ended

Mar. 31, 2019

Legal Proceedings [Abstract]

Legal Matters and Contingencies [Text Block]

Legal and Regulatory Proceedings

The Company has various legal proceedings pending at March 31, 2019, arising in the normal course of business. While some matters pending against the Company specify damages claimed by plaintiffs, others do not seek a specified amount of damages or are at very early stages of the legal process. The Company records a loss accrual for all legal and regulatory matters for which it deems a loss is probable and can be reasonably estimated. Some matters, which are in the early stages, have not yet progressed to the point where a loss amount can be determined to be probable and estimable.

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Loans And Allowance For Loan Losses (Tables)

3 Months Ended

Mar. 31, 2019

Loans And Allowance For Loan Losses [Abstract]

Summary Classification Of Held To Maturity Loan Portfolio

Major classifications within the Company’s held for investment loan portfolio at March 31, 2019 and December 31, 2018 are as follows:

(In thousands)	March 31, 2019		December 31, 2018
Commercial:
Business	$	5,175,541	$	5,106,427
Real estate – construction and land	925,269		869,659
Real estate – business	2,859,614		2,875,788
Personal Banking:
Real estate – personal	2,125,087		2,127,083
Consumer	1,893,212		1,955,572
Revolving home equity	364,010		376,399
Consumer credit card	772,396		814,134
Overdrafts	5,593		15,236
Total loans	$	14,120,722	$	14,140,298

Summary Of Activity In The Allowance For Loan Losses

A summary of the activity in the allowance for loan losses during the three months ended March 31, 2019 and 2018, respectively, follows:

	For the Three Months Ended March 31
(In thousands)	Commercial			Personal Banking		Total
Balance at January 1	$	92,869		$	67,063	$	159,932
Provision	1,168			11,295		12,463
Deductions:
Loans charged off	527			14,204		14,731
Less recoveries on loans	133			2,885		3,018
Net loan charge-offs	394			11,319		11,713
Balance March 31, 2019	$	93,643		$	67,039	$	160,682
Balance at January 1	$	93,704		$	65,828	$	159,532
Provision	(894		)	11,290		10,396
Deductions:
Loans charged off	366			13,365		13,731
Less recoveries on loans	621			2,714		3,335
Net loan charge-offs (recoveries)	(255		)	10,651		10,396
Balance March 31, 2018	$	93,065		$	66,467	$	159,532

Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology

The following table shows the balance in the allowance for loan losses and the related loan balance at March 31, 2019 and December 31, 2018, disaggregated on the basis of impairment methodology. Impaired loans evaluated under Accounting Standards Codification (ASC) 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans deemed to have similar risk characteristics, which are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.

	Impaired Loans				All Other Loans
(In thousands)	Allowance for Loan Losses		Loans Outstanding		Allowance for Loan Losses		Loans Outstanding
March 31, 2019
Commercial	$	1,720	$	66,739	$	91,923	$	8,893,685
Personal Banking	923		17,433		66,116		5,142,865
Total	$	2,643	$	84,172	$	158,039	$	14,036,550
December 31, 2018
Commercial	$	1,780	$	61,496	$	91,089	$	8,790,378
Personal Banking	916		17,120		66,147		5,271,304
Total	$	2,696	$	78,616	$	157,236	$	14,061,682

Investment In Impaired Loans

The table below shows the Company’s investment in impaired loans at March 31, 2019 and December 31, 2018. These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section below.

(In thousands)	Mar. 31, 2019		Dec. 31, 2018
Non-accrual loans	$	12,167	$	12,536
Restructured loans (accruing)	72,005		66,080
Total impaired loans	$	84,172	$	78,616

Additional Information About Impaired Loans Held

The following table provides additional information about impaired loans held by the Company at March 31, 2019 and December 31, 2018, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
March 31, 2019
With no related allowance recorded:
Business	$	8,381	$	14,376	$	—
	$	8,381	$	14,376	$	—
With an allowance recorded:
Business	$	46,736	$	46,873	$	1,241
Real estate – construction and land	414		419		11
Real estate – business	11,208		11,809		468
Real estate – personal	4,380		5,902		243
Consumer	5,365		5,365		34
Revolving home equity	39		39		1
Consumer credit card	7,649		7,649		645
	$	75,791	$	78,056	$	2,643
Total	$	84,172	$	92,432	$	2,643
December 31, 2018
With no related allowance recorded:
Business	$	8,725	$	14,477	$	—
	$	8,725	$	14,477	$	—
With an allowance recorded:
Business	$	40,286	$	40,582	$	1,223
Real estate – construction and land	416		421		11
Real estate – business	12,069		12,699		546
Real estate – personal	4,461		6,236		266
Consumer	5,510		5,510		38
Revolving home equity	40		40		1
Consumer credit card	7,109		7,109		611
	$	69,891	$	72,597	$	2,696
Total	$	78,616	$	87,074	$	2,696

Total Average Impaired Loans

Total average impaired loans for the three month periods ended March 31, 2019 and 2018, respectively, are shown in the table below.

(In thousands)	Commercial		Personal Banking		Total
Average Impaired Loans:
For the three months ended March 31, 2019
Non-accrual loans	$	10,347	$	1,973	$	12,320
Restructured loans (accruing)	53,607		15,437		69,044
Total	$	63,954	$	17,410	$	81,364
For the three months ended March 31, 2018
Non-accrual loans	$	8,523	$	2,928	$	11,451
Restructured loans (accruing)	79,258		18,773		98,031
Total	$	87,781	$	21,701	$	109,482

Interest Income Recognized On Impaired Loans

The table below shows interest income recognized during the three month periods ended March 31, 2019 and 2018, respectively, for impaired loans held at the end of each period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section below.

	For the Three Months Ended March 31
(In thousands)	2019		2018
Interest income recognized on impaired loans:
Business	$	1,008	$	760
Real estate – construction and land	6		24
Real estate – business	151		113
Real estate – personal	35		111
Consumer	80		80
Revolving home equity	1		2
Consumer credit card	146		128
Total	$	1,427	$	1,218

Aging Information On Past Due And Nonaccrual Loans

The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at March 31, 2019 and December 31, 2018.

(In thousands)	Current or Less Than 30 Days Past Due		30 – 89 Days Past Due		90 Days Past Due and Still Accruing		Non-accrual		Total
March 31, 2019
Commercial:
Business	$	5,154,124	$	12,178	$	670	$	8,569	$	5,175,541
Real estate – construction and land	924,028		1,237		—		4		925,269
Real estate – business	2,844,335		13,412		121		1,746		2,859,614
Personal Banking:
Real estate – personal	2,113,316		7,335		2,588		1,848		2,125,087
Consumer	1,866,038		24,905		2,269		—		1,893,212
Revolving home equity	362,373		1,167		470		—		364,010
Consumer credit card	751,639		10,220		10,537		—		772,396
Overdrafts	5,315		278		—		—		5,593
Total	$	14,021,168	$	70,732	$	16,655	$	12,167	$	14,120,722
December 31, 2018
Commercial:
Business	$	5,086,912	$	10,057	$	473	$	8,985	$	5,106,427
Real estate – construction and land	867,692		1,963		—		4		869,659
Real estate – business	2,867,347		6,704		22		1,715		2,875,788
Personal Banking:
Real estate – personal	2,118,045		6,041		1,165		1,832		2,127,083
Consumer	1,916,320		35,608		3,644		—		1,955,572
Revolving home equity	374,830		875		694		—		376,399
Consumer credit card	792,334		11,140		10,660		—		814,134
Overdrafts	14,937		299		—		—		15,236
Total	$	14,038,417	$	72,687	$	16,658	$	12,536	$	14,140,298

Credit Quality Of Commercial Loan Portfolio

The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is applied to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.

Commercial Loans
(In thousands)	Business		Real  Estate-Construction		Real Estate- Business		Total
March 31, 2019
Pass	$	4,954,297	$	876,805	$	2,761,215	$	8,592,317
Special mention	119,582		47,397		49,151		216,130
Substandard	93,093		1,063		47,502		141,658
Non-accrual	8,569		4		1,746		10,319
Total	$	5,175,541	$	925,269	$	2,859,614	$	8,960,424
December 31, 2018
Pass	$	4,915,042	$	866,527	$	2,777,374	$	8,558,943
Special mention	84,391		1,917		51,845		138,153
Substandard	98,009		1,211		44,854		144,074
Non-accrual	8,985		4		1,715		10,704
Total	$	5,106,427	$	869,659	$	2,875,788	$	8,851,874

Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding

For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at March 31, 2019 and December 31, 2018 by FICO score.

Personal Banking Loans
	% of Loan Category
	Real Estate - Personal		Consumer		Revolving Home Equity		Consumer Credit Card
March 31, 2019
FICO score:
Under 600	1.1	%	3.4	%	1.2	%	5.4	%
600 - 659	1.7		5.3		1.9		14.0
660 - 719	9.9		18.0		9.5		35.6
720 - 779	25.3		24.3		22.8		26.3
780 and over	62.0		49.0		64.6		18.7
Total	100.0	%	100.0	%	100.0	%	100.0	%
December 31, 2018
FICO score:
Under 600	1.1	%	3.1	%	0.8	%	4.4	%
600 - 659	1.8		4.8		1.7		14.0
660 - 719	9.4		16.1		9.1		34.8
720 - 779	24.7		25.7		24.0		26.4
780 and over	63.0		50.3		64.4		20.4
Total	100.0	%	100.0	%	100.0	%	100.0	%

Additional Information about Troubled Debt Restructurings [Table Text Block]

(In thousands)		March 31, 2019		December 31, 2018
Accruing restructured loans:
	Commercial	$	56,524	$	50,904
	Assistance programs	7,960		7,410
	Consumer bankruptcy	3,946		4,103
	Other consumer	3,575		3,663
Non-accrual loans		9,352		9,759
Total troubled debt restructurings		$	81,357	$	75,839

Outstanding Balance Of Loans Classified As Troubled Debt Restructurings

The table below shows the balance of troubled debt restructurings by loan classification at March 31, 2019, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.

(In thousands)	March 31, 2019		Balance 90 days past due at any time during previous 12 months
Commercial:
Business	$	54,928	$	—
Real estate - construction and land	411		—
Real estate - business	9,462		—
Personal Banking:
Real estate - personal	3,503		217
Consumer	5,365		47
Revolving home equity	39		—
Consumer credit card	7,649		685
Total troubled debt restructurings	$	81,357	$	949

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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2019

Investment Securities [Abstract]

Investment Securities, At Fair Value

(In thousands)	March 31, 2019		December 31, 2018
Available for sale debt securities	$	8,627,890	$	8,538,041
Trading debt securities	30,427		27,059
Equity securities:
Readily determinable fair value	2,808		2,585
No readily determinable fair value	1,886		1,824
Other:
Federal Reserve Bank stock	33,627		33,498
Federal Home Loan Bank stock	10,000		10,000
Private equity investments	85,877		85,659
Total investment securities	$	8,792,515	$	8,698,666

Summary Of Available For Sale Investment Securities By Maturity Groupings

A summary of the available for sale debt securities by maturity groupings as of March 31, 2019 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, GNMA and FDIC, in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by commercial and residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral.

(In thousands)	Amortized Cost		Fair Value
U.S. government and federal agency obligations:
Within 1 year	$	29,484	$	29,341
After 1 but within 5 years	588,651		597,792
After 5 but within 10 years	249,143		250,788
Total U.S. government and federal agency obligations	867,278		877,921
Government-sponsored enterprise obligations:
Within 1 year	36,442		36,176
After 1 but within 5 years	85,155		84,759
After 5 but within 10 years	34,986		34,974
After 10 years	42,913		42,070
Total government-sponsored enterprise obligations	199,496		197,979
State and municipal obligations:
Within 1 year	87,817		88,067
After 1 but within 5 years	663,990		675,122
After 5 but within 10 years	440,363		454,085
After 10 years	56,231		56,926
Total state and municipal obligations	1,248,401		1,274,200
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,416,497		3,412,399
Non-agency mortgage-backed securities	1,056,738		1,060,008
Asset-backed securities	1,470,541		1,470,516
Total mortgage and asset-backed securities	5,943,776		5,942,923
Other debt securities:
Within 1 year	22,497		22,412
After 1 but within 5 years	245,030		244,892
After 5 but within 10 years	67,995		67,563
Total other debt securities	335,522		334,867
Total available for sale debt securities	$	8,594,473	$	8,627,890

Available For Sale Securities Unrealized Gains And Losses By Security Type

For debt securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in AOCI, by security type.

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2019
U.S. government and federal agency obligations	$	867,278	$	11,844	$	(1,201	)	$	877,921
Government-sponsored enterprise obligations	199,496		258		(1,775		)	197,979
State and municipal obligations	1,248,401		26,485		(686		)	1,274,200
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,416,497		19,977		(24,075		)	3,412,399
Non-agency mortgage-backed securities	1,056,738		9,833		(6,563		)	1,060,008
Asset-backed securities	1,470,541		5,536		(5,561		)	1,470,516
Total mortgage and asset-backed securities	5,943,776		35,346		(36,199		)	5,942,923
Other debt securities	335,522		645		(1,300		)	334,867
Total	$	8,594,473	$	74,578	$	(41,161	)	$	8,627,890
December 31, 2018
U.S. government and federal agency obligations	$	914,486	$	4,545	$	(11,379	)	$	907,652
Government-sponsored enterprise obligations	199,470		55		(3,747		)	195,778
State and municipal obligations	1,322,785		10,284		(5,030		)	1,328,039
Mortgage and asset-backed securities:
Agency mortgage-backed securities	3,253,433		9,820		(48,268		)	3,214,985
Non-agency mortgage-backed securities	1,053,854		6,641		(12,779		)	1,047,716
Asset-backed securities	1,518,976		3,849		(11,211		)	1,511,614
Total mortgage and asset-backed securities	5,826,263		20,310		(72,258		)	5,774,315
Other debt securities	339,595		72		(7,410		)	332,257
Total	$	8,602,599	$	35,266	$	(99,824	)	$	8,538,041

Cash Flow Model Inputs Used To Calculate Credit Losses

ignificant inputs to the cash flow models used to calculate the credit losses on these securities at March 31, 2019 included the following:

Significant Inputs	Range
Prepayment CPR	0%	-	37%
Projected cumulative default	8%	-	50%
Credit support	0%	-	20%
Loss severity	11%	-	63%

Changes In Recorded Credit Losses

The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings on all available for sale debt securities.

	For the Three Months Ended March 31
(In thousands)	2019			2018
Cumulative OTTI credit losses at January 1	$	14,092		$	14,199
Credit losses on debt securities for which impairment was not previously recognized	—			58
Credit losses on debt securities for which impairment was previously recognized	—			10
Increase in expected cash flows that are recognized over remaining life of security	(33		)	(54		)
Cumulative OTTI credit losses at March 31	$	14,059		$	14,213

Securities With Unrealized Losses And Length Of Impairment Period

ecurities with unrealized losses recorded in AOCI are shown in the table below, along with the length of the impairment period.

	Less than 12 months				12 months or longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
March 31, 2019
U.S. government and federal agency obligations	$	3,200	$	26	$	114,835	$	1,175	$	118,035	$	1,201
Government-sponsored enterprise obligations	34,974		12		139,959		1,763		174,933		1,775
State and municipal obligations	13,907		3		110,737		683		124,644		686
Mortgage and asset-backed securities:
Agency mortgage-backed securities	156,031		326		1,706,133		23,749		1,862,164		24,075
Non-agency mortgage-backed securities	47,338		41		639,311		6,522		686,649		6,563
Asset-backed securities	219,611		931		726,118		4,630		945,729		5,561
Total mortgage and asset-backed securities	422,980		1,298		3,071,562		34,901		3,494,542		36,199
Other debt securities	35,967		32		170,424		1,268		206,391		1,300
Total	$	511,028	$	1,371	$	3,607,517	$	39,790	$	4,118,545	$	41,161
December 31, 2018
U.S. government and federal agency obligations	$	317,699	$	6,515	$	116,728	$	4,864	$	434,427	$	11,379
Government-sponsored enterprise obligations	—		—		188,846		3,747		188,846		3,747
State and municipal obligations	157,838		704		257,051		4,326		414,889		5,030
Mortgage and asset-backed securities:
Agency mortgage-backed securities	330,933		1,502		1,927,268		46,766		2,258,201		48,268
Non-agency mortgage-backed securities	207,506		1,085		657,685		11,694		865,191		12,779
Asset-backed securities	147,997		728		813,427		10,483		961,424		11,211
Total mortgage and asset-backed securities	686,436		3,315		3,398,380		68,943		4,084,816		72,258
Other debt securities	51,836		564		260,682		6,846		312,518		7,410
Total	$	1,213,809	$	11,098	$	4,221,687	$	88,726	$	5,435,496	$	99,824

Proceeds From Sales Of Securities And Components Of Investment Securities Gains And Losses

The following tables present proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings.

	For the Three Months Ended March 31
(In thousands)	2019			2018
Proceeds from sales of securities:
Available for sale debt securities	$	150,756		$	148,637
Equity securities	—			15
Total proceeds	$	150,756		$	148,652
Investment securities gains (losses), net:
Available for sale debt securities:
Gains realized on sales	$	1,386		$	212
Losses realized on sales	(692		)	—
Other-than-temporary impairment recognized on debt securities	—			(68		)
Equity securities:
Gains realized on sales	—			14
Fair value adjustments, net	223			947
Other:
Fair value adjustments, net	(1,842		)	4,305
Total investment securities gains (losses), net	$	(925	)	$	5,410

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Goodwill And Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Intangible Assets With Estimable Useful Lives

The following table presents information about the Company's intangible assets which have estimable useful lives.

	March 31, 2019										December 31, 2018
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount		Gross Carrying Amount		Accumulated Amortization			Valuation Allowance		Net Amount
Amortizable intangible assets:
Core deposit premium	$	31,270	$	(29,100	)	$	—		$	2,170	$	31,270	$	(28,954	)	$	—	$	2,316
Mortgage servicing rights	10,658		(4,057		)	(260		)	6,341		10,339		(3,861		)	—		6,478
Total	$	41,928	$	(33,157	)	$	(260	)	$	8,511	$	41,609	$	(32,815	)	$	—	$	8,794

Schedule of Estimated Annual Amortization Expense

The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of March 31, 2019. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.

(In thousands)
2019	$	1,381
2020	1,215
2021	1,032
2022	882
2023	736

Schedule Of Changes In Carrying Amount Of Goodwill And Net Other Intangible Assets

Changes in the carrying amount of goodwill and net other intangible assets for the three month period endedMarch 31, 2019 are as follows:

(In thousands)	Goodwill		Core Deposit Premium			Mortgage Servicing Rights
Balance January 1, 2019	$	138,921	$	2,316		$	6,478
Originations	—		—			319
Amortization	—		(146		)	(196		)
Impairment	—		—			(260		)
Balance March 31, 2019	$	138,921	$	2,170		$	6,341

Schedule Of Goodwill Allocated By Operating Segments

Goodwill allocated to the Company’s operating segments at March 31, 2019 and December 31, 2018 is shown below.

(In thousands)
Consumer segment	$	70,721
Commercial segment	67,454
Wealth segment	746
Total goodwill	$	138,921

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Leases Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The maturities of operating leases are included in the table below.

(in thousands)	Operating Leases(a)
2019 (excluding the three months ended March 31, 2019)	$	4,279
2020	5,034
2021	4,203
2022	3,725
2023	3,406
After 2023	14,878
Total lease payments	$	35,525
Less: Interest(b)	7,719
Present value of lease liabilities	$	27,806

(a) Excludes $2.1 million of legally binding minimum lease payments for operating leases signed but not yet commenced.

(b) Calculated using the interest rate for each lease.

Lease, Cost [Table Text Block]

The following table presents the average lease term and discount rate of operating leases.

	March 31, 2019
Weighted-average remaining lease term	12.1 years
Weighted-average discount rate	3.76	%

Schedule of Supplemental Cash Flow Information Related to Operating Leases [Table Text Block]

Supplemental cash flow information related to operating leases is included in the table below.

	For the Three Months Ended March 31
(in thousands)	2019
Operating cash paid toward lease liabilities	$	1,491
Leased assets obtained in exchange for new lease liabilities	$	1,022

Lessor, Components of Lease Income [Table Text Block]

The following table provides the components of lease income.

	For the Three Months Ended March 31
(in thousands)	2019
Direct financing and sales-type leases	5,862
Operating leases(a)	1,906
Total lease income	$	7,768

(a) Includes rent of $19 thousand from Tower Properties Company, a related party.

Net Investment in Sales-type and Direct Financing Leases [Table Text Block]

The following table presents the components of the net investments in direct financing and sales-type leases.

(in thousands)	March 31, 2019
Lease payment receivable	$	716,103
Unguaranteed residual assets	49,347
Total net investments in direct financing and sales-type leases	$	765,450
Deferred origination cost	3,071
Total net investment included within business loans	$	768,521

Lessor, Schedule of Maturity of Lease Receivables [Table Text Block]

The maturities of lease receivables are included in the table below.

(in thousands)	Direct Financing and Sale-Type Leases		Operating Leases		Total
2019 (excluding the three months ended March 31, 2019)	$	164,086	$	5,555	$	169,641
2020	182,611		7,051		189,662
2021	139,036		6,994		146,030
2022	101,070		13,329		114,399
2023	70,967		5,127		76,094
After 2023	121,057		13,467		134,524
Total lease receipts	778,827		$	51,523	$	830,350
Less: Net present value adjustment	62,724
Present value of lease receipts	$	716,103

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The Company adopted the new lease standard using the effective date as the date of initial application as noted above, and as required, the table below provides the disclosure for periods prior to adoption. Future minimum lease payments as of December 31, 2018 are shown below, which include leases that have not yet commenced.

(in thousands)
Year Ended December 31	Total
2019	$	5,763
2020	4,817
2021	4,055
2022	3,598
2023	3,273
After	15,161
Total minimum lease payments	$	36,667

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Pension (Tables)

3 Months Ended

Mar. 31, 2019

Pension [Abstract]

Net Pension Cost

The amount of net pension cost is shown in the table below:

	For the Three Months Ended March 31
(In thousands)	2019			2018
Service cost - benefits earned during the period	$	159		$	153
Interest cost on projected benefit obligation	1,065			950
Expected return on plan assets	(1,196		)	(1,437		)
Amortization of prior service cost	(68		)	(68		)
Amortization of unrecognized net loss	586			592
Net periodic pension cost	$	546		$	190

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Common Stock (Tables)

3 Months Ended

Mar. 31, 2019

Common Stock [Abstract]

Summary Of Components Used To Calculate Basic And Diluted Income Per Share

Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 13.

	For the Three Months Ended March 31
(In thousands, except per share data)	2019		2018
Basic income per common share:
Net income attributable to Commerce Bancshares, Inc.	$	97,138	$	100,984
Less preferred stock dividends	2,250		2,250
Net income available to common shareholders	94,888		98,734
Less income allocated to nonvested restricted stock	944		1,121
Net income allocated to common stock	$	93,944	$	97,613
Weighted average common shares outstanding	110,011		110,916
Basic income per common share	$	.85	$	.88
Diluted income per common share:
Net income available to common shareholders	$	94,888	$	98,734
Less income allocated to nonvested restricted stock	943		1,118
Net income allocated to common stock	$	93,945	$	97,616
Weighted average common shares outstanding	110,011		110,916
Net effect of the assumed exercise of stock-based awards - based on
the treasury stock method using the average market price for the respective periods	290		348
Weighted average diluted common shares outstanding	110,301		111,264
Diluted income per common share	$	.85	$	.88

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Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2018

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule Of Accumulated Other Comprehensive Income

The table below shows the activity and accumulated balances for components of other comprehensive income. The largest component is the unrealized holding gains and losses on available for sale debt securities. Unrealized gains and losses on debt securities for which an other-than-temporary impairment (OTTI) has been recorded in current earnings are shown separately below. Another component is the amortization from other comprehensive income of losses associated with pension benefits, which occurs as the losses are included in current net periodic pension cost. The remaining component is gains and losses in fair value on certain interest rate floors that have been designated as cash flow hedging instruments.

	Unrealized Gains (Losses) on Securities (1)						Pension Loss			Unrealized Gains (Losses) on Cash Flow Hedge Derivatives (2)			Total Accumulated Other Comprehensive Income (Loss)
(In thousands)	OTTI			Other
Balance January 1, 2019	$	3,861		$	(52,278	)	$	(23,107	)	$	6,855		$	(64,669	)
Other comprehensive income before reclassifications to current earnings	55			98,614			—			3,027			101,696
Amounts reclassified to current earnings from accumulated other comprehensive income	—			(694		)	518			678			502
Current period other comprehensive income, before tax	55			97,920			518			3,705			102,198
Income tax expense	(14		)	(24,479		)	(129		)	(926		)	(25,548		)
Current period other comprehensive income, net of tax	41			73,441			389			2,779			76,650
Balance March 31, 2019	$	3,902		$	21,163		$	(22,718	)	$	9,634		$	11,981
Balance January 1, 2018	$	3,411		$	30,326		$	(19,629	)	$	—		$	14,108
ASU 2018-02 Reclassification of tax rate change	715			6,359			(4,142		)	—			2,932
ASU 2016-01 Reclassification of unrealized gain on equity securities	—			(33,320		)	—			—			(33,320		)
Other comprehensive loss before reclassifications to current earnings	(8		)	(98,081		)	—			—			(98,089		)
Amounts reclassified to current earnings from accumulated other comprehensive income	68			(212		)	524			—			380
Current period other comprehensive income (loss), before tax	60			(98,293		)	524			—			(97,709		)
Income tax (expense) benefit	(15		)	24,572			(131		)	—			24,426
Current period other comprehensive income (loss), net of tax	45			(73,721		)	393			—			(73,283		)
Transfer of unrealized gain on securities for which impairment was not previously recognized	12			(12		)	—			—			—
Balance March 31, 2018	$	4,183		$	(70,368	)	$	(23,378	)	$	—		$	(89,563	)

(1) The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings are included in "investment securities gains (losses), net" in the consolidated statements of income.

(2) The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings are included in "interest and fees on loans" in the consolidated statements of income.

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Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule Of Financial Information By Segment

The following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these changes are reflected in prior year information presented below.

(In thousands)	Consumer			Commercial			Wealth			Segment Totals			Other/Elimination			Consolidated Totals
Three Months Ended March 31, 2019
Net interest income	$	76,897		$	85,848		$	11,676		$	174,421		$	29,067		$	203,488
Provision for loan losses	(11,049		)	(618		)	33			(11,634		)	(829		)	(12,463		)
Non-interest income	29,171			47,915			44,332			121,418			(178		)	121,240
Investment securities losses, net	—			—			—			—			(925		)	(925		)
Non-interest expense	(73,508		)	(76,838		)	(30,892		)	(181,238		)	(10,187		)	(191,425		)
Income before income taxes	$	21,511		$	56,307		$	25,149		$	102,967		$	16,948		$	119,915
Three Months Ended March 31, 2018
Net interest income	$	71,021		$	82,584		$	11,445		$	165,050		$	27,842		$	192,892
Provision for loan losses	(10,373		)	180			(64		)	(10,257		)	(139		)	(10,396		)
Non-interest income	30,216			49,209			42,103			121,528			(1,838		)	119,690
Investment securities gains, net	—			—			—			—			5,410			5,410
Non-interest expense	(69,919		)	(72,778		)	(31,825		)	(174,522		)	(7,755		)	(182,277		)
Income before income taxes	$	20,945		$	59,195		$	21,659		$	101,799		$	23,520		$	125,319

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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instrument Detail [Abstract]

Schedule Of Notional Amounts Of Derivative Instruments

(In thousands)	March 31, 2019		December 31, 2018
Interest rate swaps	$	2,007,799	$	2,006,280
Interest rate floors	1,000,000		1,000,000
Interest rate caps	61,696		62,163
Credit risk participation agreements	142,266		143,460
Foreign exchange contracts	6,710		6,206
Mortgage loan commitments	22,496		14,544
Mortgage loan forward sale contracts	2,657		5,768
Forward TBA contracts	33,503		16,500
Total notional amount	$	3,277,127	$	3,254,921

Schedule Of Fair Values Of Derivative Instruments

The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Information about the valuation methods used to determine fair value is provided in Note 16 on Fair Value Measurements in the 2018 Annual Report on Form 10-K.

The Company's policy is to present its derivative assets and derivative liabilities on a gross basis in its consolidated balance sheets, and these are reported in other assets and other liabilities. Effective January 2017, certain collateral posted to and from the Company's clearing counterparty has been offset against the fair values of cleared swaps, such that at March 31, 2019 in the table below, the positive fair values of cleared swaps were reduced by $3.8 million and the negative fair values of cleared swaps were reduced by $12.4 million. At December 31, 2018, the positive fair values of cleared swaps were reduced by $8.1 million and the negative fair values of cleared swaps were reduced by $6.5 million.

	Asset Derivatives				Liability Derivatives
	Mar. 31, 2019		Dec. 31, 2018		Mar. 31, 2019			Dec. 31, 2018
(In thousands)	Fair Value				Fair Value
Derivatives designated as hedging instruments:
Interest rate floors	$	32,058	$	29,031	$	—		$	—
Total derivatives designated as hedging instruments	$	32,058	$	29,031	$	—		$	—
Derivative instruments not designated as hedging instruments:
Interest rate swaps	$	18,641	$	11,537	$	(9,970	)	$	(13,110	)
Interest rate caps	8		24		(8		)	(24		)
Credit risk participation agreements	92		47		(110		)	(93		)
Foreign exchange contracts	44		20		(16		)	(8		)
Mortgage loan commitments	823		536		—			—
Mortgage loan forward sale contracts	22		15		—			(8		)
Forward TBA contracts	3		—		(196		)	(178		)
Total derivatives not designated as hedging instruments	$	19,633	$	12,179	$	(10,300	)	$	(13,421	)
Total	$	51,691	$	41,210	$	(10,300	)	$	(13,421	)

Summary of Cash Flow Hedge Activity [Table Text Block]

The pre-tax effects of derivative instruments on the consolidated statements of income are shown in the tables below.

	Amount of Gain or (Loss) Recognized in OCI							Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
	For the Three Months Ended								For the Three Months Ended
	March 31, 2019								March 31, 2019
(In thousands)	Total		Included Component		Excluded Component				Total			Included Component		Excluded Component
Derivatives in cash flow hedging relationships:
Interest rate floors*	$	3,027	$	10,873	$	(7,846	)	Interest and fees on loans	$	(678	)	$	—	$	(678	)
Total	$	3,027	$	10,873	$	(7,846	)		$	(678	)	$	—	$	(678	)

* No hedging relationship existed during the three months ended March 31, 2018.

Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income

	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended March 31
(In thousands)		2019			2018
Derivative instruments:
Interest rate swaps	Other non-interest income	$	303		$	505
Credit risk participation agreements	Other non-interest income	28			164
Foreign exchange contracts	Other non-interest income	16			9
Mortgage loan commitments	Loan fees and sales	287			1
Mortgage loan forward sale contracts	Loan fees and sales	16			—
Forward TBA contracts	Loan fees and sales	(266		)	542
Total		$	384		$	1,221

Balance Sheet Offsetting, Derivatives [Table Text Block]

							Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset			Collateral Received/Pledged			Net Amount
March 31, 2019
Assets:
Derivatives subject to master netting agreements	50,792		—		50,792		(4,695		)	(28,385		)	17,712
Derivatives not subject to master netting agreements	899		—		899
Total derivatives	51,691		—		51,691
Liabilities:
Derivatives subject to master netting agreements	10,203		—		10,203		(4,695		)	(199		)	5,309
Derivatives not subject to master netting agreements	97		—		97
Total derivatives	10,300		—		10,300
December 31, 2018
Assets:
Derivatives subject to master netting agreements	$	40,613	$	—	$	40,613	$	(2,992	)	$	(26,174	)	$	11,447
Derivatives not subject to master netting agreements	597		—		597
Total derivatives	41,210		—		41,210
Liabilities:
Derivatives subject to master netting agreements	$	13,333	$	—	$	13,333	$	(2,992	)	$	(261	)	$	10,080
Derivatives not subject to master netting agreements	88		—		88
Total derivatives	13,421		—		13,421

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Resale and Repurchase Agreements (Tables)

3 Months Ended

Mar. 31, 2019

Resale and Repurchase Agreements [Abstract]

Resale and Repurchase Agreements [Table Text Block]

								Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset		Securities Collateral Received/Pledged			Net Amount
March 31, 2019
Total resale agreements, subject to master netting arrangements	$	1,000,000	$	(300,000	)	$	700,000	$	—	$	(700,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	1,760,376		(300,000		)	1,460,376		—		(1,460,376		)	—
December 31, 2018
Total resale agreements, subject to master netting arrangements	$	1,150,000	$	(450,000	)	$	700,000	$	—	$	(700,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	2,393,219		(450,000		)	1,943,219		—		(1,943,219		)	—

Schedule of Underlying Assets of Repurchase Agreements [Table Text Block]

	Remaining Contractual Maturity of the Agreements
(In thousands)	Overnight and continuous		Up to 90 days		Greater than 90 days		Total
March 31, 2019
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	280,854	$	101,727	$	—	$	382,581
Government-sponsored enterprise obligations	47,900		—		—		47,900
Agency mortgage-backed securities	702,596		75,702		211,750		990,048
Non-agency mortgage-backed securities	135,495		—		—		135,495
Asset-backed securities	67,987		40,000		—		107,987
Other debt securities	96,365		—		—		96,365
Total repurchase agreements, gross amount recognized	$	1,331,197	$	217,429	$	211,750	$	1,760,376
December 31, 2018
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	387,541	$	150,000	$	100,000	$	637,541
Government-sponsored enterprise obligations	18,466		—		—		18,466
Agency mortgage-backed securities	882,744		31,774		213,752		1,128,270
Non-agency mortgage-backed securities	187,740		—		—		187,740
Asset-backed securities	322,680		—		—		322,680
Other debt securities	98,522		—		—		98,522
Total repurchase agreements, gross amount recognized	$	1,897,693	$	181,774	$	313,752	$	2,393,219

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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Share-based Compensation [Abstract]

Summary Of The Status Of Nonvested Share Awards

A summary of the status of the Company’s nonvested share awards as of March 31, 2019, and changes during the three month period then ended, is presented below.

	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019	1,180,940		$43.24
Granted	178,446		61.87
Vested	(291,519	)	32.68
Forfeited	(3,246	)	49.41
Nonvested at March 31, 2019	1,064,621		$49.23

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The current year per share average fair value and the model assumptions are shown in the table below.

Weighted per share average fair value at grant date		$11.92
Assumptions:
Dividend yield	1.7		%
Volatility	19.8		%
Risk-free interest rate	2.6		%
Expected term	6.0 years

Summary Of SAR Activity

A summary of SAR activity during the first three months of 2019 is presented below.

(Dollars in thousands, except per share data)	Rights		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2019	1,066,438		$40.22
Granted	186,825		61.76
Forfeited	(1,479	)	51.16
Expired	(682	)	41.81
Exercised	(95,934	)	34.27
Outstanding at March 31, 2019	1,155,168		$44.19	7.1 years	$	16,717

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Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table disaggregates non-interest income subject to ASU 2014-09 by major product line.

	Three Months Ended March 31
(In thousands)	2019		2018
Bank card transaction fees	$	39,644	$	41,453
Trust fees	37,256		36,062
Deposit account charges and other fees	23,018		22,982
Consumer brokerage services	3,747		3,768
Other non-interest income	8,372		7,311
Total non-interest income from contracts with customers	112,037		111,576
Other non-interest income (a)	9,203		8,114
Total non-interest income	$	121,240	$	119,690

(a) This revenue is not within the scope of ASU 2014-09, and includes fees relating to capital market activities, loan fees and sales, derivative instruments, standby letters of credit and various other transactions.

Contract with Customer, Asset and Liability [Table Text Block]

The following table presents the opening and closing receivable balances for the three month periods endedMarch 31, 2019 and 2018 for the Company’s significant revenue categories subject to ASU 2014-09.

(In thousands)	March 31, 2019		December 31, 2018		March 31, 2018		December 31, 2017
Bank card transaction fees	$	11,016	$	13,035	$	10,978	$	13,315
Trust fees	2,720		2,721		3,116		2,802
Deposit account charges and other fees	5,265		6,107		4,682		5,597
Consumer brokerage services	526		559		690		380

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Measurements [Abstract]

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

The table below presents the March 31, 2019 and December 31, 2018 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first three months of 2019 or the year ended December 31, 2018.

			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)
March 31, 2019
Assets:
Residential mortgage loans held for sale	$	8,908	$	—	$	8,908	$	—
Available for sale debt securities:
U.S. government and federal agency obligations	877,921		877,921		—		—
Government-sponsored enterprise obligations	197,979		—		197,979		—
State and municipal obligations	1,274,200		—		1,259,671		14,529
Agency mortgage-backed securities	3,412,399		—		3,412,399		—
Non-agency mortgage-backed securities	1,060,008		—		1,060,008		—
Asset-backed securities	1,470,516		—		1,470,516		—
Other debt securities	334,867		—		334,867		—
Trading debt securities	30,427		—		30,427		—
Equity securities	2,808		2,808		—		—
Private equity investments	85,877		—		—		85,877
Derivatives *	51,691		—		50,776		915
Assets held in trust for deferred compensation plan	14,897		14,897		—		—
Total assets	8,822,498		895,626		7,825,551		101,321
Liabilities:
Derivatives *	10,300		—		10,190		110
Liabilities held in trust for deferred compensation plan	14,897		14,897		—		—
Total liabilities	$	25,197	$	14,897	$	10,190	$	110
December 31, 2018
Assets:
Residential mortgage loans held for sale	$	13,529	$	—	$	13,529	$	—
Available for sale debt securities:
U.S. government and federal agency obligations	907,652		907,652		—		—
Government-sponsored enterprise obligations	195,778		—		195,778		—
State and municipal obligations	1,328,039		—		1,313,881		14,158
Agency mortgage-backed securities	3,214,985		—		3,214,985		—
Non-agency mortgage-backed securities	1,047,716		—		1,047,716		—
Asset-backed securities	1,511,614		—		1,511,614		—
Other debt securities	332,257		—		332,257		—
Trading debt securities	27,059		—		27,059		—
Equity securities	2,585		2,585		—		—
Private equity investments	85,659		—		—		85,659
Derivatives *	41,210		—		40,627		583
Assets held in trust for deferred compensation plan	12,968		12,968		—		—
Total assets	8,721,051		923,205		7,697,446		100,400
Liabilities:
Derivatives *	13,421		—		13,328		93
Liabilities held in trust for deferred compensation plan	12,968		12,968		—		—
Total liabilities	$	26,389	$	12,968	$	13,328	$	93

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

The 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
For the three months ended March 31, 2019
Balance January 1, 2019	$	14,158	$	85,659		$	490		$	100,307
Total gains or losses (realized/unrealized):
Included in earnings	—		(1,842		)	315			(1,527		)
Included in other comprehensive income *	364		—			—			364
Discount accretion	7		—			—			7
Purchases of private equity investments	—		2,060			—			2,060
Balance March 31, 2019	$	14,529	$	85,877		$	805		$	101,211
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at March 31, 2019	$	—	$	(1,842	)	$	851		$	(991	)
For the three months ended March 31, 2018
Balance January 1, 2018	$	17,016	$	55,752		$	503		$	73,271
Total gains or losses (realized/unrealized):
Included in earnings	—		4,305			165			4,470
Included in other comprehensive income *	133		—			—			133
Discount accretion	9		—			—			9
Purchases of private equity investments	—		4,879			—			4,879
Sale/pay down of private equity investments	—		(20		)	—			(20		)
Capitalized interest/dividends	—		35			—			35
Sale of risk participation agreement	—		—			(148		)	(148		)
Balance March 31, 2018	$	17,158	$	64,951		$	520		$	82,629
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at March 31, 2018	$	—	$	4,305		$	745		$	5,050

Summary Of Gains And Losses On Level 3 Assets And Liabilities

Gains and losses included in earnings for the Level 3 assets and liabilities in the previous table are reported in the following line items in the consolidated statements of income:

(In thousands)	Loan Fees and Sales		Other Non-Interest Income		Investment Securities Gains (Losses), Net			Total
For the three months ended March 31, 2019
Total gains or losses included in earnings	$	287	$	28	$	(1,842	)	$	(1,527	)
Change in unrealized gains or losses relating to assets still held at March 31, 2019	$	823	$	28	$	(1,842	)	$	(991	)
For the three months ended March 31, 2018
Total gains or losses included in earnings	$	2	$	163	$	4,305		$	4,470
Change in unrealized gains or losses relating to assets still held at March 31, 2018	$	582	$	163	$	4,305		$	5,050

Summary Of Quantitative Information About Level 3 Fair Value Measurements

s

The Company's significant Level 3 measurements which employ unobservable inputs that are readily quantifiable pertain to auction rate securities (ARS) held by the Bank, investments in portfolio concerns held by the Company's private equity subsidiaries, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $14.5 million at March 31, 2019, while private equity investments, included in other securities, totaled $85.9 million.

Information about these inputs is presented in the table and discussions below.

Quantitative Information about Level 3 Fair Value Measurements						Weighted
	Valuation Technique	Unobservable Input	Range			Average
Auction rate securities	Discounted cash flow	Estimated market recovery period	4	-	5 years
		Estimated market rate	3.4%	-	4.3%
Private equity investments	Market comparable companies	EBITDA multiple	4.0	-	6.0
Mortgage loan commitments	Discounted cash flow	Probability of funding	50.8%	-	99.1%	79.3%
		Embedded servicing value	.6%	-	2.4%	1.3%

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

s

For assets measured at fair value on a nonrecurring basis during the first three months of 2019 and 2018, and still held as of March 31, 2019 and 2018, the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation inputs used to determine each adjustment, and the carrying value of the related individual assets or portfolios at March 31, 2019 and 2018.

			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) Recognized During the Three Months Ended March 31
March 31, 2019
Collateral dependent impaired loans	$	129	$	—	$	—	$	129	$	170
Mortgage servicing rights	6,341		—		—		6,341		(260		)
Long-lived assets	134		—		—		134		(14		)
March 31, 2018
Collateral dependent impaired loans	$	39	$	—	$	—	$	39	$	(12	)
Mortgage servicing rights	5,105		—		—		5,105		9
Long-lived assets	914		—		—		914		(552		)

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Fair Value Of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Of Financial Instruments [Abstract]

Fair value of financial instruments [Table Text Block]

	Carrying Amount		Estimated Fair Value at March 31, 2019
(In thousands)			Level 1		Level 2		Level 3		Total
Financial Assets
Loans:
Business	$	5,175,541	$	—	$	—	$	5,110,404	$	5,110,404
Real estate - construction and land	925,269		—		—		922,877		922,877
Real estate - business	2,859,614		—		—		2,847,793		2,847,793
Real estate - personal	2,125,087		—		—		2,076,475		2,076,475
Consumer	1,893,212		—		—		1,851,010		1,851,010
Revolving home equity	364,010		—		—		359,856		359,856
Consumer credit card	772,396		—		—		720,563		720,563
Overdrafts	5,593		—		—		3,994		3,994
Total loans	14,120,722		—		—		13,892,972		13,892,972
Loans held for sale	20,085		—		20,085		—		20,085
Investment securities	8,792,515		880,729		7,765,867		145,919		8,792,515
Federal funds sold	250		250		—		—		250
Securities purchased under agreements to resell	700,000		—		—		700,588		700,588
Interest earning deposits with banks	166,077		166,077		—		—		166,077
Cash and due from banks	428,018		428,018		—		—		428,018
Derivative instruments	51,691		—		50,776		915		51,691
Assets held in trust for deferred compensation plan	14,897		14,897		—		—		14,897
Total	$	24,294,255	$	1,489,971	$	7,836,728	$	14,740,394	$	24,067,093
Financial Liabilities
Non-interest bearing deposits	$	6,298,724	$	6,298,724	$	—	$	—	$	6,298,724
Savings, interest checking and money market deposits	11,799,346		11,799,346		—		—		11,799,346
Certificates of deposit	1,876,283		—		—		1,887,103		1,887,103
Federal funds purchased	262,375		262,375		—		—		262,375
Securities sold under agreements to repurchase	1,460,376		—		—		1,461,343		1,461,343
Other borrowings	1,932		—		1,035		897		1,932
Derivative instruments	10,300		—		10,190		110		10,300
Liabilities held in trust for deferred compensation plan	14,897		14,897		—		—		14,897
Total	$	21,724,233	$	18,375,342	$	11,225	$	3,349,453	$	21,736,020

	Carrying Amount		Estimated Fair Value at December 31, 2018
(In thousands)			Level 1		Level 2		Level 3		Total
Financial Assets
Loans:
Business	$	5,106,427	$	—	$	—	$	5,017,694	$	5,017,694
Real estate - construction and land	869,659		—		—		868,274		868,274
Real estate - business	2,875,788		—		—		2,846,095		2,846,095
Real estate - personal	2,127,083		—		—		2,084,370		2,084,370
Consumer	1,955,572		—		—		1,916,627		1,916,627
Revolving home equity	376,399		—		—		365,069		365,069
Consumer credit card	814,134		—		—		756,651		756,651
Overdrafts	15,236		—		—		11,223		11,223
Total loans	14,140,298		—		—		13,866,003		13,866,003
Loans held for sale	20,694		—		20,694		—		20,694
Investment securities	8,698,666		910,237		7,643,290		145,139		8,698,666
Federal funds sold	3,320		3,320		—		—		3,320
Securities purchased under agreements to resell	700,000		—		—		693,228		693,228
Interest earning deposits with banks	689,876		689,876		—		—		689,876
Cash and due from banks	507,892		507,892		—		—		507,892
Derivative instruments	41,210		—		40,627		583		41,210
Assets held in trust for deferred compensation plan	12,968		12,968		—		—		12,968
Total	$	24,814,924	$	2,124,293	$	7,704,611	$	14,704,953	$	24,533,857
Financial Liabilities
Non-interest bearing deposits	$	6,980,298	$	6,980,298	$	—	$	—	$	6,980,298
Savings, interest checking and money market deposits	11,685,239		11,685,239		—		—		11,685,239
Certificates of deposit	1,658,122		—		—		1,663,748		1,663,748
Federal funds purchased	13,170		13,170		—		—		13,170
Securities sold under agreements to repurchase	1,943,219		—		—		1,944,458		1,944,458
Other borrowings	8,702		—		7,751		951		8,702
Derivative instruments	13,421		—		13,328		93		13,421
Liabilities held in trust for deferred compensation plan	12,968		12,968		—		—		12,968
Total	$	22,315,139	$	18,691,675	$	21,079	$	3,609,250	$	22,322,004

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Loans And Allowance For Loan Losses (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Abstract]
Loans pledged at the Federal Home Loan Bank as collateral for borrowings and letters of credit obtained to secure public deposits	$ 3,800,000,000
Loans Pledged to the Federal Reserve Bank as collateral for discount window borrowings	$ 1,600,000,000
Period after which loans are deemed in default (in days)	90 days
Effect on Interest Income Resulting From Modification to Credit Card Loans	$ (1,000,000)
Commitments to lend additional funds to customers with restructured loans	2,700,000
Fair Value of Personal Real Estate Loans Held for Sale	8,900,000
Unpaid Principal Balance on Personal Real Estate Loans Held for Sale	8,500,000
Student Loans Held for Sale, Lower of Cost or Fair Value	11,200,000
HFS Loans on non accrual status	0
HFS loans past due and still accruing	0
Foreclosed real estate	737,000	$ 1,400,000
Personal property acquired in repossession	$ 2,600,000	$ 2,000,000

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Loans And Allowance For Loan Losses (Summary Classification Of Held To Maturity Loan Portfolio) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Total loans	$ 14,120,722	$ 14,140,298
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	5,175,541	5,106,427
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	925,269	869,659
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	2,859,614	2,875,788
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	2,125,087	2,127,083
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	1,893,212	1,955,572
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	364,010	376,399
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	772,396	814,134
Overdrafts [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	$ 5,593	$ 15,236

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Loans And Allowance For Loan Losses (Summary Of Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	$ 159,932	$ 159,532
Provision	12,463	10,396
Loans charged off	14,731	13,731
Less recoveries on loans	3,018	3,335
Net loan charge-offs (recoveries)	11,713	10,396
Balance at end of period	160,682	159,532
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	92,869	93,704
Provision	1,168	(894)
Loans charged off	527	366
Less recoveries on loans	133	621
Net loan charge-offs (recoveries)	394	(255)
Balance at end of period	93,643	93,065
Personal Banking Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	67,063	65,828
Provision	11,295	11,290
Loans charged off	14,204	13,365
Less recoveries on loans	2,885	2,714
Net loan charge-offs (recoveries)	11,319	10,651
Balance at end of period	$ 67,039	$ 66,467

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Loans And Allowance For Loan Losses (Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment	$ 14,036,550	$ 14,061,682
Impaired Financing Receivable, Recorded Investment	84,172	78,616
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance	158,039	157,236
Impaired Financing Receivable, Related Allowance	2,643	2,696
Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment	8,893,685	8,790,378
Impaired Financing Receivable, Recorded Investment	66,739	61,496
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance	91,923	91,089
Impaired Financing Receivable, Related Allowance	1,720	1,780
Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment	5,142,865	5,271,304
Impaired Financing Receivable, Recorded Investment	17,433	17,120
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance	66,116	66,147
Impaired Financing Receivable, Related Allowance	$ 923	$ 916

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Loans And Allowance For Loan Losses (Investment In Impaired Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Abstract]
Non-accrual loans	$ 12,167	$ 12,536
Restructured loans (accruing)	72,005	66,080
Total impaired loans	$ 84,172	$ 78,616

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Loans And Allowance For Loan Losses (Additional Information About Impaired Loans Held) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	$ 8,381	$ 8,725
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	14,376	14,477
Impaired Financing Receivable, with No Related Allowance, Allowance	0	0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	75,791	69,891
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	78,056	72,597
Impaired Financing Receivable, Related Allowance	2,643	2,696
Impaired Financing Receivable, Recorded Investment	84,172	78,616
Impaired Financing Receivable, Unpaid Principal Balance	92,432	87,074
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	8,381	8,725
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	14,376	14,477
Impaired Financing Receivable, with No Related Allowance, Allowance	0	0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	46,736	40,286
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	46,873	40,582
Impaired Financing Receivable, Related Allowance	1,241	1,223
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	414	416
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	419	421
Impaired Financing Receivable, Related Allowance	11	11
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	11,208	12,069
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	11,809	12,699
Impaired Financing Receivable, Related Allowance	468	546
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	4,380	4,461
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	5,902	6,236
Impaired Financing Receivable, Related Allowance	243	266
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	5,365	5,510
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	5,365	5,510
Impaired Financing Receivable, Related Allowance	34	38
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	39	40
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	39	40
Impaired Financing Receivable, Related Allowance	1	1
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	7,649	7,109
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	7,649	7,109
Impaired Financing Receivable, Related Allowance	$ 645	$ 611

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Loans And Allowance For Loan Losses (Total Average Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Non-accrual loans	$ 12,320	$ 11,451
Restructured loans (accruing)	69,044	98,031
Total	81,364	109,482
Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Non-accrual loans	10,347	8,523
Restructured loans (accruing)	53,607	79,258
Total	63,954	87,781
Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Non-accrual loans	1,973	2,928
Restructured loans (accruing)	15,437	18,773
Total	$ 17,410	$ 21,701

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Loans And Allowance For Loan Losses (Interest Income Recognized on Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	$ 1,427	$ 1,218
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	1,008	760
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	6	24
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	151	113
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	35	111
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	80	80
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	1	2
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	$ 146	$ 128

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Loans And Allowance For Loan Losses (Aging Information On Past Due And Accruing Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	$ 14,021,168	$ 14,038,417
30 - 89 Days Past Due	70,732	72,687
90 Days Past Due and Still Accruing	16,655	16,658
Non-accrual loans	12,167	12,536
Total	14,120,722	14,140,298
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	5,175,541	5,106,427
Business [Member] | Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	5,154,124	5,086,912
30 - 89 Days Past Due	12,178	10,057
90 Days Past Due and Still Accruing	670	473
Non-accrual loans	8,569	8,985
Total	5,175,541	5,106,427
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	925,269	869,659
Real Estate - Construction And Land [Member] | Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	924,028	867,692
30 - 89 Days Past Due	1,237	1,963
90 Days Past Due and Still Accruing	0	0
Non-accrual loans	4	4
Total	925,269	869,659
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	2,859,614	2,875,788
Real Estate - Business [Member] | Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	2,844,335	2,867,347
30 - 89 Days Past Due	13,412	6,704
90 Days Past Due and Still Accruing	121	22
Non-accrual loans	1,746	1,715
Total	2,859,614	2,875,788
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	2,125,087	2,127,083
Real Estate - Personal [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	2,113,316	2,118,045
30 - 89 Days Past Due	7,335	6,041
90 Days Past Due and Still Accruing	2,588	1,165
Non-accrual loans	1,848	1,832
Total	2,125,087	2,127,083
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	1,893,212	1,955,572
Consumer [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	1,866,038	1,916,320
30 - 89 Days Past Due	24,905	35,608
90 Days Past Due and Still Accruing	2,269	3,644
Non-accrual loans	0	0
Total	1,893,212	1,955,572
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	364,010	376,399
Revolving Home Equity [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	362,373	374,830
30 - 89 Days Past Due	1,167	875
90 Days Past Due and Still Accruing	470	694
Non-accrual loans	0	0
Total	364,010	376,399
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	772,396	814,134
Consumer Credit Card [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	751,639	792,334
30 - 89 Days Past Due	10,220	11,140
90 Days Past Due and Still Accruing	10,537	10,660
Non-accrual loans	0	0
Total	772,396	814,134
Overdrafts [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	5,593	15,236
Overdrafts [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	5,315	14,937
30 - 89 Days Past Due	278	299
90 Days Past Due and Still Accruing	0	0
Non-accrual loans	0	0
Total	$ 5,593	$ 15,236

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Loans And Allowance For Loan Losses (Credit Quality Of Commercial Loan Portfolio) (Details) - Commercial Portfolio Segment [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	$ 8,960,424	$ 8,851,874
Pass [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	8,592,317	8,558,943
Special Mention [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	216,130	138,153
Substandard [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	141,658	144,074
Non-Accrual [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	10,319	10,704
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	5,175,541	5,106,427
Business [Member] | Pass [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	4,954,297	4,915,042
Business [Member] | Special Mention [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	119,582	84,391
Business [Member] | Substandard [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	93,093	98,009
Business [Member] | Non-Accrual [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	8,569	8,985
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	925,269	869,659
Real Estate - Construction And Land [Member] | Pass [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	876,805	866,527
Real Estate - Construction And Land [Member] | Special Mention [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	47,397	1,917
Real Estate - Construction And Land [Member] | Substandard [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	1,063	1,211
Real Estate - Construction And Land [Member] | Non-Accrual [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	4	4
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	2,859,614	2,875,788
Real Estate - Business [Member] | Pass [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	2,761,215	2,777,374
Real Estate - Business [Member] | Special Mention [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	49,151	51,845
Real Estate - Business [Member] | Substandard [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	47,502	44,854
Real Estate - Business [Member] | Non-Accrual [Member]
Loans And Allowance For Loan Losses [Line Items]
Commercial Loan Portfolio Gross Carrying Amount	$ 1,746	$ 1,715

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Loans And Allowance For Loan Losses (Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding ) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Credit Quality Personal Real Estate Loans Excluded	$ 196.4	$ 201.7
Consumer Healthcare Loans Excluded	$ 167.2	$ 170.3
Credit quality personal banking loan table percentage loans excluded	8.00%
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	100.00%	100.00%
Real Estate - Personal [Member] | Fico Under Six Hundred [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	1.10%	1.10%
Real Estate - Personal [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	1.70%	1.80%
Real Estate - Personal [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	9.90%	9.40%
Real Estate - Personal [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	25.30%	24.70%
Real Estate - Personal [Member] | Fico Seven Hundred Eighty And Above [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	62.00%	63.00%
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	100.00%	100.00%
Consumer [Member] | Fico Under Six Hundred [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	3.40%	3.10%
Consumer [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	5.30%	4.80%
Consumer [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	18.00%	16.10%
Consumer [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	24.30%	25.70%
Consumer [Member] | Fico Seven Hundred Eighty And Above [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	49.00%	50.30%
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	100.00%	100.00%
Revolving Home Equity [Member] | Fico Under Six Hundred [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	1.20%	0.80%
Revolving Home Equity [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	1.90%	1.70%
Revolving Home Equity [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	9.50%	9.10%
Revolving Home Equity [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	22.80%	24.00%
Revolving Home Equity [Member] | Fico Seven Hundred Eighty And Above [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	64.60%	64.40%
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	100.00%	100.00%
Consumer Credit Card [Member] | Fico Under Six Hundred [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	5.40%	4.40%
Consumer Credit Card [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	14.00%	14.00%
Consumer Credit Card [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	35.60%	34.80%
Consumer Credit Card [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	26.30%	26.40%
Consumer Credit Card [Member] | Fico Seven Hundred Eighty And Above [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	18.70%	20.40%

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Loans And Allowance For Loan Losses Loans And Allowance For Loan Losses (Troubled Debt Restructurings by Type of Modification) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 81,357	$ 75,839
Performing/Accruing TDR - Commercial [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	56,524	50,904
Performing/Accruing TDR - Assistance programs [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	7,960	7,410
Performing/Accruing TDR - Consumer Bankruptcy [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,946	4,103
Performing/Accruing TDR - Other Consumer [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,575	3,663
TDR Non-accrual loans [Member]
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 9,352	$ 9,759

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Loans And Allowance For Loan Losses (Outstanding Balance Of Loans Classified As Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Loans And Allowance For Loan Losses [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 81,357	$ 75,839
Balance 90 days past due at any time during previous 12 months	949
Commercial Portfolio Segment [Member] | Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Financing Receivable, Modifications, Recorded Investment	54,928
Balance 90 days past due at any time during previous 12 months	0
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Financing Receivable, Modifications, Recorded Investment	411
Balance 90 days past due at any time during previous 12 months	0
Commercial Portfolio Segment [Member] | Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Financing Receivable, Modifications, Recorded Investment	9,462
Balance 90 days past due at any time during previous 12 months	0
Personal Banking Portfolio Segment [Member] | Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,503
Balance 90 days past due at any time during previous 12 months	217
Personal Banking Portfolio Segment [Member] | Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Financing Receivable, Modifications, Recorded Investment	5,365
Balance 90 days past due at any time during previous 12 months	47
Personal Banking Portfolio Segment [Member] | Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Financing Receivable, Modifications, Recorded Investment	39
Balance 90 days past due at any time during previous 12 months	0
Personal Banking Portfolio Segment [Member] | Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Financing Receivable, Modifications, Recorded Investment	7,649
Balance 90 days past due at any time during previous 12 months	$ 685

XML

Investment Securities (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Investment [Line Items]
Percentage decrease requiring a review for impairment	20.00%
Fair value of securities on other-than-temporary impairment watch list	$ 55,000		$ 57,700
Credit-related portion of impairments included in earnings, for securities on watch list	14,059	$ 14,213	14,092	$ 14,199
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	4,118,545		5,435,496
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	41,161		99,824
AFS securities in loss position at period-end, change in unrealized loss	(58,700)
Securities pledged as collateral	4,000,000
Securities pledged as collateral and may be sold or re-pledged	$ 312,300
No investment in a single issuer exceeds this percentage of stockholder's equity	10.00%
Number of investments in a single issuer that exceed 10% of stockholder's equity	0
U.S. Government and Federal Agency Obligations [Member]
Investment [Line Items]
U.S. Treasury inflation-protected securities held, at fair value	$ 446,900
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	118,035		434,427
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	1,201		11,379
State and Municipal Obligations [Member]
Investment [Line Items]
Auction rate securities held at fair value	14,500
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	124,644		414,889
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	686		5,030
Non-Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Par value securities with other-than-temporary impairment	22,200
Fair Value Securities with Other-Than-Temporary Impairment	17,300
Credit-related portion of impairments included in earnings, for securities on watch list	14,100
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	686,649		865,191
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	6,563		$ 12,779
Private Equity Funds [Member]
Investment [Line Items]
Fair value adjustments, net	(1,800)
Equity Securities [Member]
Investment [Line Items]
Equity Securities, FV-NI, Unrealized Gain	223	$ 947
Available-for-sale Securities [Member]
Investment [Line Items]
Available-for-sale Securities, Gross Realized Gain (Loss)	$ 694

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Investment Securities (Investment Securities, At Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment Securities [Abstract]
Debt Securities, Available-for-sale	$ 8,627,890	$ 8,538,041
Trading securities	30,427	27,059
Equity securities with a readily determinable fair value	2,808	2,585
Equtiy Securities without Readily Determinable Fair Values	1,886	1,824
Federal Reserve Bank Stock	33,627	33,498
Federal Home Loan Bank Stock	10,000	10,000
Private equity investments	85,877	85,659
Total investment securities	$ 8,792,515	$ 8,698,666

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Investment Securities (Summary Of Available For Sale Investment Securities By Maturity Groupings) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 8,594,473	$ 8,602,599
Debt Securities, Available-for-sale, Fair Value	8,627,890	8,538,041
U.S. Government and Federal Agency Obligations [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	867,278	914,486
Debt Securities, Available-for-sale, Fair Value	877,921	907,652
U.S. Government and Federal Agency Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	29,484
Debt Securities, Available-for-sale, Fair Value	29,341
U.S. Government and Federal Agency Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	588,651
Debt Securities, Available-for-sale, Fair Value	597,792
U.S. Government and Federal Agency Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	249,143
Debt Securities, Available-for-sale, Fair Value	250,788
Government-Sponsored Enterprise Obligations [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	199,496	199,470
Debt Securities, Available-for-sale, Fair Value	197,979	195,778
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	36,442
Debt Securities, Available-for-sale, Fair Value	36,176
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	85,155
Debt Securities, Available-for-sale, Fair Value	84,759
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	34,986
Debt Securities, Available-for-sale, Fair Value	34,974
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Maturity After10 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	42,913
Debt Securities, Available-for-sale, Fair Value	42,070
State and Municipal Obligations [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,248,401	1,322,785
Debt Securities, Available-for-sale, Fair Value	1,274,200	1,328,039
State and Municipal Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	87,817
Debt Securities, Available-for-sale, Fair Value	88,067
State and Municipal Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	663,990
Debt Securities, Available-for-sale, Fair Value	675,122
State and Municipal Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	440,363
Debt Securities, Available-for-sale, Fair Value	454,085
State and Municipal Obligations [Member] | Available For Sale Maturity After10 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	56,231
Debt Securities, Available-for-sale, Fair Value	56,926
Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	3,416,497	3,253,433
Debt Securities, Available-for-sale, Fair Value	3,412,399	3,214,985
Non-Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,056,738	1,053,854
Debt Securities, Available-for-sale, Fair Value	1,060,008	1,047,716
Asset-Backed Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,470,541	1,518,976
Debt Securities, Available-for-sale, Fair Value	1,470,516	1,511,614
Total Mortgage And Asset-Backed Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	5,943,776	5,826,263
Debt Securities, Available-for-sale, Fair Value	5,942,923	5,774,315
Other Debt Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	335,522	339,595
Debt Securities, Available-for-sale, Fair Value	334,867	$ 332,257
Other Debt Securities [Member] | Available For Sale Securities Maturity Within1 Year [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	22,497
Debt Securities, Available-for-sale, Fair Value	22,412
Other Debt Securities [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	245,030
Debt Securities, Available-for-sale, Fair Value	244,892
Other Debt Securities [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	67,995
Debt Securities, Available-for-sale, Fair Value	$ 67,563

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Investment Securities (Available For Sale Securities Unrealized Gains And Losses, By Security Type) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 8,594,473	$ 8,602,599
Available For Sale Securities, Gross Unreailzed Gain at Period End	74,578	35,266
Available For Sale Securities, Gross Unrealized Loss at Period End	(41,161)	(99,824)
Debt Securities, Available-for-sale, Fair Value	8,627,890	8,538,041
U.S. Government and Federal Agency Obligations [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	867,278	914,486
Available For Sale Securities, Gross Unreailzed Gain at Period End	11,844	4,545
Available For Sale Securities, Gross Unrealized Loss at Period End	(1,201)	(11,379)
Debt Securities, Available-for-sale, Fair Value	877,921	907,652
Government-Sponsored Enterprise Obligations [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	199,496	199,470
Available For Sale Securities, Gross Unreailzed Gain at Period End	258	55
Available For Sale Securities, Gross Unrealized Loss at Period End	(1,775)	(3,747)
Debt Securities, Available-for-sale, Fair Value	197,979	195,778
State and Municipal Obligations [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,248,401	1,322,785
Available For Sale Securities, Gross Unreailzed Gain at Period End	26,485	10,284
Available For Sale Securities, Gross Unrealized Loss at Period End	(686)	(5,030)
Debt Securities, Available-for-sale, Fair Value	1,274,200	1,328,039
Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	3,416,497	3,253,433
Available For Sale Securities, Gross Unreailzed Gain at Period End	19,977	9,820
Available For Sale Securities, Gross Unrealized Loss at Period End	(24,075)	(48,268)
Debt Securities, Available-for-sale, Fair Value	3,412,399	3,214,985
Non-Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,056,738	1,053,854
Available For Sale Securities, Gross Unreailzed Gain at Period End	9,833	6,641
Available For Sale Securities, Gross Unrealized Loss at Period End	(6,563)	(12,779)
Debt Securities, Available-for-sale, Fair Value	1,060,008	1,047,716
Asset-Backed Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,470,541	1,518,976
Available For Sale Securities, Gross Unreailzed Gain at Period End	5,536	3,849
Available For Sale Securities, Gross Unrealized Loss at Period End	(5,561)	(11,211)
Debt Securities, Available-for-sale, Fair Value	1,470,516	1,511,614
Total Mortgage And Asset-Backed Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	5,943,776	5,826,263
Available For Sale Securities, Gross Unreailzed Gain at Period End	35,346	20,310
Available For Sale Securities, Gross Unrealized Loss at Period End	(36,199)	(72,258)
Debt Securities, Available-for-sale, Fair Value	5,942,923	5,774,315
Other Debt Securities [Member]
Investment [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	335,522	339,595
Available For Sale Securities, Gross Unreailzed Gain at Period End	645	72
Available For Sale Securities, Gross Unrealized Loss at Period End	(1,300)	(7,410)
Debt Securities, Available-for-sale, Fair Value	$ 334,867	$ 332,257

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Investment Securities (Cash Flow Model Inputs Used To Calculate Credit Losses) (Details)	Mar. 31, 2019
Minimum [Member]
Investment [Line Items]
Prepayment CPR	0.00%
Projected cumulative default	8.00%
Credit support	0.00%
Loss severity	11.00%
Maximum [Member]
Investment [Line Items]
Prepayment CPR	37.00%
Projected cumulative default	50.00%
Credit support	20.00%
Loss severity	63.00%

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Investment Securities (Changes In Recorded Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 14,059	$ 14,213	$ 14,092	$ 14,199
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment	0	58
Credit losses on debt securities for which impairment was previously recognized	0	10
Increase in expected cash flows that are recognized over remaining life of security	$ (33)	$ (54)

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Investment Securities (Securities With Unrealized Losses And Length Of Impairment Period) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment [Line Items]
Less than 12 months, Fair Value	$ 511,028	$ 1,213,809
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	1,371	11,098
12 months or longer, Fair Value	3,607,517	4,221,687
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	39,790	88,726
Total, Fair Value	4,118,545	5,435,496
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	41,161	99,824
U.S. Government and Federal Agency Obligations [Member]
Investment [Line Items]
Less than 12 months, Fair Value	3,200	317,699
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	26	6,515
12 months or longer, Fair Value	114,835	116,728
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1,175	4,864
Total, Fair Value	118,035	434,427
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	1,201	11,379
Government-Sponsored Enterprise Obligations [Member]
Investment [Line Items]
Less than 12 months, Fair Value	34,974	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	12	0
12 months or longer, Fair Value	139,959	188,846
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1,763	3,747
Total, Fair Value	174,933	188,846
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	1,775	3,747
State and Municipal Obligations [Member]
Investment [Line Items]
Less than 12 months, Fair Value	13,907	157,838
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	3	704
12 months or longer, Fair Value	110,737	257,051
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	683	4,326
Total, Fair Value	124,644	414,889
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	686	5,030
Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	156,031	330,933
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	326	1,502
12 months or longer, Fair Value	1,706,133	1,927,268
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	23,749	46,766
Total, Fair Value	1,862,164	2,258,201
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	24,075	48,268
Non-Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	47,338	207,506
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	41	1,085
12 months or longer, Fair Value	639,311	657,685
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	6,522	11,694
Total, Fair Value	686,649	865,191
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	6,563	12,779
Asset-Backed Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	219,611	147,997
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	931	728
12 months or longer, Fair Value	726,118	813,427
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	4,630	10,483
Total, Fair Value	945,729	961,424
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	5,561	11,211
Total Mortgage And Asset-Backed Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	422,980	686,436
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	1,298	3,315
12 months or longer, Fair Value	3,071,562	3,398,380
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	34,901	68,943
Total, Fair Value	3,494,542	4,084,816
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	36,199	72,258
Debt Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	35,967	51,836
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	32	564
12 months or longer, Fair Value	170,424	260,682
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1,268	6,846
Total, Fair Value	206,391	312,518
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 1,300	$ 7,410

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Investment Securities (Proceeds From Sales Of Securities And Components Of Investment Securities Gains And Losses) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Investment [Line Items]
Proceeds from Sale of Available-for-sale Securities		$ 150,756	$ 148,637
Proceeds from Sale of Equity Securities		0	15
Total proceeds	[1]	150,756	148,652
Investment securities gains (losses), net	[1]	(925)	5,410
Available-for-sale Securities [Member]
Investment [Line Items]
Available-for-sale Securities, Gains realized on sales		1,386	212
Available-for-sale Securities, Losses realized on sales		(692)	0
Other-than-temporary impairment recognized on debt securities		0	(68)
Equity Securities [Member]
Investment [Line Items]
Gain realized on sales		0	14
Fair value adjustments, net		223	947
Other investments [Member]
Investment [Line Items]
Fair value adjustments, net		$ (1,842)	$ 4,305

[1] Available for sale debt securities, equity securities, and other securities

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Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 342	$ 321

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Goodwill And Other Intangible Assets (Schedule Of Intangible Assets With Estimable Useful Lives) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 41,928	$ 41,609
Accumulated Amortization	(33,157)	(32,815)
Valuation Allowance	(260)	0
Net Amount	8,511	8,794
Core Deposit Premium [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	31,270	31,270
Accumulated Amortization	(29,100)	(28,954)
Valuation Allowance	0	0
Net Amount	2,170	2,316
Mortgage Servicing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,658	10,339
Accumulated Amortization	(4,057)	(3,861)
Valuation Allowance	(260)	0
Net Amount	$ 6,341	$ 6,478

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Goodwill And Other Intangible Assets (Schedule Of Estimated Annual Amortization Expense) (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2019	$ 1,381
2020	1,215
2021	1,032
2022	882
2023	$ 736

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Goodwill And Other Intangible Assets (Schedule Of Changes In Carrying Amount Of Goodwill And Net Other Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Goodwill and Intangible Assets [Roll Forward]
Amortization	$ 342	$ 321
Goodwill [Member]
Goodwill and Intangible Assets [Roll Forward]
Originations	0
Amortization	0
Impairment reversal	0
Intangible Assets, Net (Including Goodwill)	138,921		$ 138,921
Core Deposit Premium [Member]
Goodwill and Intangible Assets [Roll Forward]
Originations	0
Amortization	(146)
Impairment reversal	0
Intangible Assets, Net (Including Goodwill)	2,170		2,316
Mortgage Servicing Rights [Member]
Goodwill and Intangible Assets [Roll Forward]
Originations	319
Amortization	(196)
Impairment reversal	(260)
Intangible Assets, Net (Including Goodwill)	$ 6,341		$ 6,478

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Goodwill And Other Intangible Assets (Schedule Of Goodwill Allocated By Operating Segments) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 138,921	$ 138,921
Consumer Segment [Member]
Goodwill [Line Items]
Goodwill	70,721	70,721
Commercial Segment [Member]
Goodwill [Line Items]
Goodwill	67,454	67,454
Wealth Segment [Member]
Goodwill [Line Items]
Goodwill	$ 746	$ 746

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Guarantees (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Guarantor Obligations [Line Items]
Derivative Liabilities	$ 10,300	$ 13,421
Notional amount of underlying interest rate swaps associated with risk participation agreements	3,277,127	$ 3,254,921
Financial Standby Letter Of Credit [Member]
Guarantor Obligations [Line Items]
Standby letters of credit, net liability	2,200
Contractual amount of letters of credit, guaranteed maximum potential future payments	325,600
Risk Participation Agreement [Member] | Indirect Guarantee Of Indebtedness [Member]
Guarantor Obligations [Line Items]
Derivative Liabilities	110
Notional amount of underlying interest rate swaps associated with risk participation agreements	$ 86,600
Minimum [Member] | Risk Participation Agreement [Member]
Guarantor Obligations [Line Items]
Term, in years	2 years
Maximum [Member] | Risk Participation Agreement [Member]
Guarantor Obligations [Line Items]
Term, in years	11 years

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Leases Leases (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	$ 27,100
Operating Lease, Present value of lease liabilities	27,806
Lease, Cost	$ 1,800
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	35 years

XML

Leases Leases (Schedule of Maturity of Operating Lease Liabilities) (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of 2019	$ 4,279
Lessee, Operating Lease, Liability, Payments, 2020	5,034
Lessee, Operating Lease, Liability, Payments, 2021	4,203
Lessee, Operating Lease, Liability, Payments, 2022	3,725
Lessee, Operating Lease, Liability, Payments, 2023	3,406
Lessee, Operating Lease, Liability, Payments, Due after 2023	14,878
Lessee, Operating Lease, Liability, Payments, Total	35,525
Lessee, Operating Lease, Liability, Interest	7,719
Operating Lease, Present value of lease liabilities	27,806
Minimum lease payment for operating leases signed but not yet commenced	$ 2,100

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Leases Leases (Schedule of Operating Lease Term and Discount Rate) (Details)	Mar. 31, 2019
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	12 years 22 days
Operating Lease, Weighted Average Discount Rate, Percent	3.76%

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Leases Leases (Schedule of Supplemental Cash Flow Information Related to Operating Leases) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Leases [Abstract]
Operating Lease, Operating cash paid toward lease liabilities	$ 1,491
Leased assets obtained in exchange for new lease liabilities, operating lease	$ 1,022

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Leases Leases (Summary of Minimum Lease Commitments Under ASC 840) (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
Operating Leases, Future Minimum Payments Due, 2019	$ 5,763
Operating Leases, Future Minimum Payments, 2020	4,817
Operating Leases, Future Minimum Payments, 2021	4,055
Operating Leases, Future Minimum Payments, 2022	3,598
Operating Leases, Future Minimum Payments, 2023	3,273
Operating Leases, Future Minimum Payments, After 2023	15,161
Operating Leases, Future Minimum Payments Due	$ 36,667

XML

Leases Leases (Narrative - Lessor) (Details)	Mar. 31, 2019
Minimum [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Renewal Term	1 year
Maximum [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Renewal Term	9 years

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Leases Leases (Components of Lease Income) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Operating Lease Income [Line Items]
Sales-type and Direct Financing Leases, Lease Income	$ 5,862
Operating Lease, Lease Income	1,906
Lease Income	7,768
Operating Lease Income from Related Party [Member]
Operating Lease Income [Line Items]
Operating Lease, Lease Income	$ 19

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Leases Leases (Net Investment in Sales-type and Direct Financing Leases) (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Leases [Abstract]
Sales-type and Direct Financing Leases, Lease Receivable	$ 716,103
Sales-type and Direct Financing Leases, Unguaranteed Residual Asset	49,347
Net investment in direct financing and sales-type leases	765,450
Deferred Costs, Leasing, Net	3,071
Net Investment in Direct Financing and Sales Type Leases included within Business Loans	$ 768,521

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Leases Leases (Schedule of Maturity of Lease Receivables) (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Leases [Abstract]
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Remainder of 2019	$ 164,086
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, 2020	182,611
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, 2021	139,036
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, 2022	101,070
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, 2023	70,967
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, After 2023	121,057
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received	778,827
Sales-type and Direct Financing Leases, Lease Receivable, Undiscounted Excess Amount	62,724
Sales-type and Direct Financing Leases, Lease Receivable	716,103
Lessor, Operating Lease, Payments to be Received, Remainder of 2019	5,555
Lessor, Operating Lease, Payments to be Received, 2020	7,051
Lessor, Operating Lease, Payments to be Received, 2021	6,994
Lessor, Operating Lease, Payments to be Received, 2022	13,329
Lessor, Operating Lease, Payments to be Received, 2023	5,127
Lessor, Operating Lease, Payments to be Received, After 2023	13,467
Lessor, Operating Lease, Payments to be Received	51,523
Lessor, Total Payments to be Received, Remainder of 2019	169,641
Lessor, Total Payments to be Received, 2020	189,662
Lessor, Total Payments to be Received, 2021	146,030
Lessor, Total Payments to be Received, 2022	114,399
Lessor, Total Payments to be Received, 2023	76,094
Lessor, Total Payments to be Received, After 2023	134,524
Lessor, Total Payments to be Received	$ 830,350

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Pension Pension (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019 USD ($)
Pension (Narrative) [Abstract]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 0

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Pension (Net Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension [Abstract]
Service cost - benefits earned during the period	$ 159	$ 153
Interest cost on projected benefit obligation	1,065	950
Expected Return on Plan Assets	(1,196)	(1,437)
Amortization of Prior Service Cost	(68)	(68)
Defined Benefit Plan, Amortization of Gain (Loss)	586	592
Net periodic pension cost	$ 546	$ 190

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Common Stock (Summary Of Components Used To Calculate Basic And Diluted Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Commerce Bancshares, Inc.	$ 97,138	$ 100,984
Preferred Stock Dividends	2,250	2,250
Net Income (Loss) Available to Common Stockholders	$ 94,888	$ 98,734
Basic income per common share	$ 0.85	$ 0.88
Diluted income per common share	$ 0.85	$ 0.88
Basic Income Per Common Share [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Commerce Bancshares, Inc.	$ 97,138	$ 100,984
Preferred Stock Dividends	2,250	2,250
Net Income (Loss) Available to Common Stockholders	94,888	98,734
Less income allocated to nonvested restricted stockholders	944	1,121
Net income available to common stockholders	$ 93,944	$ 97,613
Weighted average common shares outstanding	110,011	110,916
Basic income per common share	$ 0.85	$ 0.88
Diluted Income Per Common Share [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Available to Common Stockholders, Diluted	$ 94,888	$ 98,734
Less income allocated to nonvested restricted stockholders	943	1,118
Net income available to common stockholders	$ 93,945	$ 97,616
Weighted average common shares outstanding	110,011	110,916
Net effect of the assumed exercise of stock-based awards - based on the treasury stock method using the average market price for the respective periods	290	348
Weighted average diluted common shares outstanding	110,301	111,264
Diluted income per common share	$ 0.85	$ 0.88

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Common Stock Common Stock (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	282	276

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Common Stock Common Stock (Subsequent Event) (Details) - shares	Apr. 17, 2019	Mar. 31, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Common Stock, Shares Authorized		120,000,000	120,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Common Stock, Shares Authorized	140,000,000

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Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($)		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Accumulated other comprehensive income (loss)		$ 11,981,000	$ (89,563,000)	$ (64,669,000)	$ 14,108,000
Other Comprehensive Income Before Reclassifications		101,696,000	(98,089,000)
Reclassified from Accumulated Oher Comprehensive Income		502,000	380,000
Other Comprehensive Income (Loss), before Tax		102,198,000	(97,709,000)
Other Comprehensive Income (Loss), Tax		(25,548,000)	24,426,000
Other comprehensive income (loss), net of tax		76,650,000	(73,283,000)
Reclassification Where Impairment Was Not Previously Recognized		0	0
Unrealized Gain Loss on Securities OTTI [Member]
Accumulated other comprehensive income (loss)	[1]	3,902,000	4,183,000	3,861,000	3,411,000
Other Comprehensive Income Before Reclassifications	[1]	55,000	(8,000)
Reclassified from Accumulated Oher Comprehensive Income	[1]	0	68,000
Other Comprehensive Income (Loss), before Tax	[1]	55,000	60,000
Other Comprehensive Income (Loss), Tax	[1]	(14,000)	(15,000)
Other comprehensive income (loss), net of tax	[1]	41,000	45,000
Reclassification Where Impairment Was Not Previously Recognized		0	12,000
Unrealized Gain Loss on Securities Other [Member]
Accumulated other comprehensive income (loss)	[1]	21,163,000	(70,368,000)	(52,278,000)	30,326,000
Other Comprehensive Income Before Reclassifications	[1]	98,614,000	(98,081,000)
Reclassified from Accumulated Oher Comprehensive Income	[1]	(694,000)	(212,000)
Other Comprehensive Income (Loss), before Tax	[1]	97,920,000	(98,293,000)
Other Comprehensive Income (Loss), Tax	[1]	(24,479,000)	24,572,000
Other comprehensive income (loss), net of tax	[1]	73,441,000	(73,721,000)
Reclassification Where Impairment Was Not Previously Recognized		0	(12,000)
Pension Loss [Member]
Accumulated other comprehensive income (loss)	[2]	(22,718,000)	(23,378,000)	(23,107,000)	(19,629,000)
Other Comprehensive Income Before Reclassifications	[2]	0	0
Reclassified from Accumulated Oher Comprehensive Income	[2]	518,000	524,000
Other Comprehensive Income (Loss), before Tax	[2]	518,000	524,000
Other Comprehensive Income (Loss), Tax	[2]	(129,000)	(131,000)
Other comprehensive income (loss), net of tax	[2]	389,000	393,000
Reclassification Where Impairment Was Not Previously Recognized		0	0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated other comprehensive income (loss)	[2]	9,634,000	0	$ 6,855,000	$ 0
Other Comprehensive Income Before Reclassifications	[2]	3,027,000	0
Reclassified from Accumulated Oher Comprehensive Income	[2]	678,000	0
Other Comprehensive Income (Loss), before Tax	[2]	3,705,000	0
Other Comprehensive Income (Loss), Tax	[2]	(926,000)	0
Other comprehensive income (loss), net of tax	[2]	2,779,000	0
Reclassification Where Impairment Was Not Previously Recognized		$ 0	0
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			2,932,000
Accounting Standards Update 2018-02 [Member] | Unrealized Gain Loss on Securities OTTI [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			715,000
Accounting Standards Update 2018-02 [Member] | Unrealized Gain Loss on Securities Other [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			6,359,000
Accounting Standards Update 2018-02 [Member] | Pension Loss [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			(4,142,000)
Accounting Standards Update 2018-02 [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			0
Accounting Standards Update 2016-01 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			(33,320,000)
Accounting Standards Update 2016-01 [Member] | Unrealized Gain Loss on Securities OTTI [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			0
Accounting Standards Update 2016-01 [Member] | Unrealized Gain Loss on Securities Other [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			(33,320,000)
Accounting Standards Update 2016-01 [Member] | Pension Loss [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			0
Accounting Standards Update 2016-01 [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			$ 0

[1] The pre-tax amounts reclassified from accumulated other comprehensive income to current earnings are included in "investment securities gains (losses), net" in the consolidated statements of income.

[2] The requirement to revalue deferred tax assets and liabilities in the period of enactment stranded the effects of the tax rate change, mandated by the Tax Cuts and Jobs Act, in accumulated other comprehensive income. In response, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which the Company adopted on January 1, 2018. This ASU allowed the reclassification of the stranded tax effects from accumulated other comprehensive income (as shown in the table above) to retained earnings.New accounting guidance, which was effective January 1, 2018, required the reclassification of unrealized gains on equity securities from accumulated other comprehensive income to retained earnings (also shown above).

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Segments Segments (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019 USD ($) Locations	Mar. 31, 2018 USD ($)
Segments [Abstract]
Number of Operating Segments	3
Segment Reporting Information, Intersegment Revenue | $	$ 0	$ 0
Number Of Locations | Locations	170

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Segments (Schedule Of Financial Information By Segment) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Net interest income		$ 203,488	$ 192,892
Provision for loan losses		(12,463)	(10,396)
Non-interest income		121,240	119,690
Investment securities gains (losses), net	[1]	(925)	5,410
Non-interest expense		(191,425)	(182,277)
Income before income taxes		119,915	125,319
Consumer Segment [Member]
Segment Reporting Information [Line Items]
Net interest income		76,897	71,021
Provision for loan losses		(11,049)	(10,373)
Non-interest income		29,171	30,216
Investment securities gains (losses), net		0	0
Non-interest expense		(73,508)	(69,919)
Income before income taxes		21,511	20,945
Commercial Segment [Member]
Segment Reporting Information [Line Items]
Net interest income		85,848	82,584
Provision for loan losses		(618)	180
Non-interest income		47,915	49,209
Investment securities gains (losses), net		0	0
Non-interest expense		(76,838)	(72,778)
Income before income taxes		56,307	59,195
Wealth Segment [Member]
Segment Reporting Information [Line Items]
Net interest income		11,676	11,445
Provision for loan losses		33	(64)
Non-interest income		44,332	42,103
Investment securities gains (losses), net		0	0
Non-interest expense		(30,892)	(31,825)
Income before income taxes		25,149	21,659
Segment Totals [Member]
Segment Reporting Information [Line Items]
Net interest income		174,421	165,050
Provision for loan losses		(11,634)	(10,257)
Non-interest income		121,418	121,528
Investment securities gains (losses), net		0	0
Non-interest expense		(181,238)	(174,522)
Income before income taxes		102,967	101,799
Other Elimination [Member]
Segment Reporting Information [Line Items]
Net interest income		29,067	27,842
Provision for loan losses		(829)	(139)
Non-interest income		(178)	(1,838)
Investment securities gains (losses), net		(925)	5,410
Non-interest expense		(10,187)	(7,755)
Income before income taxes		$ 16,948	$ 23,520

[1] Available for sale debt securities, equity securities, and other securities

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Derivative Instruments Derivative Instruments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional Amount of Derivatives	$ 3,277,127		$ 3,254,921
Interest Rate Floor [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,000,000		1,000,000
Premium paid for interest rate floor cash flow hedge	$ 20,700
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge	6 years 5 months
Unrealized gain (loss) on interest rate cash flow hedges, net of tax, amount recorded in accumulated other comprehensive income	$ 12,800
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	(2,800)
Interest Rate Swaps [Member]
Derivative [Line Items]
Notional Amount of Derivatives	2,007,799		2,006,280
Variation Margin Impact to Positive Fair Values of Cleared Swaps	(3,800)		(8,100)
Variation Margin Impact to Negative Fair Values of Cleared Swaps	$ (12,400)		$ (6,500)
Subsequent Event [Member] | Interest Rate Floor [Member]
Derivative [Line Items]
Notional Amount of Derivatives		$ 500,000
Premium paid for interest rate floor cash flow hedge		$ 10,700
Derivative, Floor Interest Rate		2.00%
Maximum [Member] | Interest Rate Floor [Member]
Derivative [Line Items]
Derivative, Floor Interest Rate	2.50%
Minimum [Member] | Interest Rate Floor [Member]
Derivative [Line Items]
Derivative, Floor Interest Rate	2.25%

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Derivative Instruments (Schedule Of Notional Amounts Of Derivative Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional Amount of Derivatives	$ 3,277,127	$ 3,254,921
Interest Rate Swaps [Member]
Derivative [Line Items]
Notional Amount of Derivatives	2,007,799	2,006,280
Interest Rate Floor [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,000,000	1,000,000
Interest Rate Caps [Member]
Derivative [Line Items]
Notional Amount of Derivatives	61,696	62,163
Credit Risk Participation Agreements [Member]
Derivative [Line Items]
Notional Amount of Derivatives	142,266	143,460
Foreign Exchange Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	6,710	6,206
Mortgage Loan Commitments [Member]
Derivative [Line Items]
Notional Amount of Derivatives	22,496	14,544
Mortgage Loan Forward Sale Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	2,657	5,768
Forward TBA Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	$ 33,503	$ 16,500

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Derivative Instruments (Schedule Of Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Other assets	$ 51,691	$ 41,210
Derivative Liabilities	10,300	13,421
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Other assets	32,058	29,031
Derivative Liabilities	0	0
Designated as Hedging Instrument [Member] | Interest Rate Floor [Member]
Derivatives, Fair Value [Line Items]
Other assets	32,058	29,031
Derivative Liabilities	0	0
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Other assets	19,633	12,179
Derivative Liabilities	10,300	13,421
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Other assets	18,641	11,537
Derivative Liabilities	9,970	13,110
Not Designated as Hedging Instrument [Member] | Interest Rate Caps [Member]
Derivatives, Fair Value [Line Items]
Other assets	8	24
Derivative Liabilities	8	24
Not Designated as Hedging Instrument [Member] | Credit Risk Participation Agreements [Member]
Derivatives, Fair Value [Line Items]
Other assets	92	47
Derivative Liabilities	110	93
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Other assets	44	20
Derivative Liabilities	16	8
Not Designated as Hedging Instrument [Member] | Mortgage Loan Commitments [Member]
Derivatives, Fair Value [Line Items]
Other assets	823	536
Derivative Liabilities	0	0
Not Designated as Hedging Instrument [Member] | Mortgage Loan Forward Sale Contracts [Member]
Derivatives, Fair Value [Line Items]
Other assets	22	15
Derivative Liabilities	0	8
Not Designated as Hedging Instrument [Member] | Forward TBA Contracts [Member]
Derivatives, Fair Value [Line Items]
Other assets	3	0
Derivative Liabilities	$ 196	$ 178

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Derivative Instruments Derivative Instruments (Summary of Cash Flow Hedge Activity) (Details) - Designated as Hedging Instrument [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Summary of Cash Flow Hedge Activity [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 3,027
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	10,873
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax	(7,846)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(678)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(678)
Interest Rate Floor [Member]
Summary of Cash Flow Hedge Activity [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	3,027
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	10,873
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax	(7,846)
Interest and Fee Income on Loans [Member] | Interest Rate Floor [Member]
Summary of Cash Flow Hedge Activity [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(678)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	$ (678)

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Derivative Instruments (Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	$ 384	$ 1,221
Other Non-Interest Income [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	303	505
Other Non-Interest Income [Member] | Credit Risk Participation Agreements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	28	164
Other Non-Interest Income [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	16	9
Loans Fees And Sales [Member] | Mortgage Loan Commitments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	287	1
Loans Fees And Sales [Member] | Mortgage Loan Forward Sale Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	16	0
Loans Fees And Sales [Member] | Forward TBA Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	$ (266)	$ 542

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Derivative Instruments Derivative Instruments (Balance Sheet Offsetting) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	$ 51,691	$ 41,210
Derivative Asset, Amount Offset by Liabiilty	0	0
Derivative Assets	51,691	41,210
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	10,300	13,421
Derivative Liability, Amount Offset by Asset	0	0
Derivative Liabilities	10,300	13,421
Derivative Subject to Master Netting Agreement [Member]
Derivative Asset, Fair Value, Gross Asset	50,792	40,613
Derivative Asset, Amount Offset by Liabiilty	0	0
Derivative Asset, Net Amount Presented in the Balance Sheet	50,792	40,613
Derivative Asset, Not Offset, Policy Election Deduction	(4,695)	(2,992)
derivatve asset, fair value of collateral	(28,385)	(26,174)
Derivative Asset, Fair Value, Amount Offset Against Collateral	17,712	11,447
Derivative Liability, Fair Value, Gross Liability	10,203	13,333
Derivative Liability, Amount Offset by Asset	0	0
Derivative Liability, Net Amount Presented in the Balance Sheet	10,203	13,333
Derivative Liability, Not Offset, Policy Election Deduction	(4,695)	(2,992)
Derivative Liability, Fair Value of Collateral	(199)	(261)
Derivative Liability, Fair Value, Amount Offset Against Collateral	5,309	10,080
Derivative Not Subject to Master Netting Agreement [Member]
Derivative Asset, Fair Value, Gross Asset	899	597
Derivative Asset, Amount Offset by Liabiilty	0	0
Derivative Asset, Not Subject to Master Netting Arrangement	899	597
Derivative Liability, Fair Value, Gross Liability	97	88
Derivative Liability, Amount Offset by Asset	0	0
Derivative Liability, Not Subject to Master Netting Arrangement	$ 97	$ 88

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Resale and Repurchase Agreements Resale and Repurchase Agreements (Narrative) (Details) - Collateral Swap [Member] - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Balance Sheet Offsetting [Line Items]
Collateral Swap Agreements	$ 300.0	$ 450.0
Collateral Already Posted, Aggregate Fair Value	312.2
Collateral Accepted, Aggregate Fair Value	$ 302.3

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Resale and Repurchase Agreements Resale and Repurchase Agreements (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Balance Sheet Offsetting [Line Items]
Securities purchased under agreements to resell	$ 700,000	$ 700,000
Resale agreement [Member]
Balance Sheet Offsetting [Line Items]
Securities Purchased under Agreements to Resell, Gross	1,000,000	1,150,000
Securities Purchased under Agreements to Resell, Liability	(300,000)	(450,000)
Securities purchased under agreements to resell	700,000	700,000
Securities Purchased under Agreements to Resell, Not Subject to Master Netting Arrangement	0	0
Securities Purchased under Agreements to Resell, Collateral, Obligation to Return Securities	(700,000)	(700,000)
Securities Purchased under Agreements to Resell, Amount Offset Against Collateral	0	0
Repurchase agreement [Member]
Balance Sheet Offsetting [Line Items]
Securities Sold under Agreements to Repurchase, Gross	1,760,376	2,393,219
Securities Sold under Agreements to Repurchase, Asset	(300,000)	(450,000)
Securities Sold under Agreements to Repurchase	1,460,376	1,943,219
Securities Sold under Agreements to Repurchase, Not Subject to Master Netting Arrangement	0	0
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	(1,460,376)	(1,943,219)
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral	$ 0	$ 0

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Resale and Repurchase Agreements Remaining Contractual Maturities of Repurchase Agreements (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
U.S. Government and Federal Agency Obligations [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	$ 280,854	$ 387,541
U.S. Government and Federal Agency Obligations [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	101,727	150,000
U.S. Government and Federal Agency Obligations [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	100,000
U.S. Government and Federal Agency Obligations [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	382,581	637,541
Government-Sponsored Enterprise Obligations [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	47,900	18,466
Government-Sponsored Enterprise Obligations [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Government-Sponsored Enterprise Obligations [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Government-Sponsored Enterprise Obligations [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	47,900	18,466
Agency Mortgage-Backed Securities [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	702,596	882,744
Agency Mortgage-Backed Securities [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	75,702	31,774
Agency Mortgage-Backed Securities [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	211,750	213,752
Agency Mortgage-Backed Securities [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	990,048	1,128,270
Non Agency Mortgage Backed Securities [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	135,495	187,740
Non Agency Mortgage Backed Securities [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Non Agency Mortgage Backed Securities [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Non Agency Mortgage Backed Securities [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	135,495	187,740
Asset-Backed Securities [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	67,987	322,680
Asset-Backed Securities [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	40,000	0
Asset-Backed Securities [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Asset-Backed Securities [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	107,987	322,680
Other Debt Securities [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	96,365	98,522
Other Debt Securities [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Other Debt Securities [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Other Debt Securities [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	96,365	98,522
Repurchase Agreements [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	1,331,197	1,897,693
Repurchase Agreements [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	217,429	181,774
Repurchase Agreements [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	211,750	313,752
Repurchase Agreements [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	$ 1,760,376	$ 2,393,219

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Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 3.5	$ 3.3
Nonvested Stock Award [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Nonvested Stock Award [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	7 years
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Contractual terms of stock options granted (in years)	10 years

XML

Stock-Based Compensation (Summary Of The Status Of Nonvested Share Awards) (Details)	3 Months Ended
	Mar. 31, 2019 $ / shares shares
Nonvested Share Awards [Roll Forward]
Nonvested, Shares, Beginning Balance | shares	1,180,940
Granted, Shares | shares	178,446
Vested, Shares | shares	(291,519)
Forfeited, Shares | shares	(3,246)
Nonvested, Shares, Ending Balance | shares	1,064,621
Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 43.24
Granted , Weighted Average Grant Date Fair Value | $ / shares	61.87
Vested , Weighted Average Grant Date Fair Value | $ / shares	32.68
Forfeited , Weighted Average Grant Date Fair Value | $ / shares	49.41
Nonvested , Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 49.23

XML

Stock-Based Compensation Stock-Based Compensation (Current Year Per Share Average Fair Value and Valuation Model Assumptions) (Details)	3 Months Ended
	Mar. 31, 2019 $ / shares
Current Year Per Share Average Fair Value and Valuation Model Assumptions [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 11.92
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	1.70%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	19.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.60%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 years

XML

Stock-Based Compensation (Summary Of SAR Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Stock Appreciation Rights [Roll Forward]
Outstanding, Shares	1,155,168	1,066,438
Granted, Shares	186,825
Forfeited, Shares	(1,479)
Expired, Shares	(682)
Exercised, Shares	(95,934)
Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 40.22
Granted, Weighted Average Exercise Price	61.76
Forfeited, Weighted Average Exercise Price	51.16
Expired, Weighted Average Exercise Price	41.81
Exercised, Weighted Average Exercise Price	34.27
Outstanding, Weighted Average Exercise Price, Ending Balance	$ 44.19
Outstanding, Weighted Average Remaining Contractual Term (in years)	7 years 1 month
Outstanding, Aggregate Intrinsic Value, Ending Balance	$ 16,717

XML

Revenue from Contracts with Customers Revenue from Contracts with Customers (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019 Rate
Revenue from Contract with Customer [Abstract]
Percent of Revenue not in scope of ASC 606	63.00%

XML

Revenue from Contracts with Customers (Schedule of Disaggregation of Revenue) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Non-interest income		$ 121,240	$ 119,690
Revenue from Contracts with Customers In Scope of ASC 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income		112,037	111,576
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Bank Card Transaction Fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income		39,644	41,453
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Trust Fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income		37,256	36,062
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Deposit Account Charges and Other Fees [Member]
Disaggregation of Revenue [Line Items]
Non-interest income		23,018	22,982
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Consumer Brokerage Services [Member]
Disaggregation of Revenue [Line Items]
Non-interest income		3,747	3,768
Revenue from Contracts with Customers In Scope of ASC 606 [Member] | Other Non-Interest Income [Member]
Disaggregation of Revenue [Line Items]
Non-interest income		8,372	7,311
Revenue Not In Scope of ASC 606 [Member]
Disaggregation of Revenue [Line Items]
Non-interest income	[1]	$ 9,203	$ 8,114

[1] This revenue is not within the scope of ASU 2014-09, and includes fees relating to capital market activities, loan fees and sales, derivative instruments, standby letters of credit and various other transactions.

XML

Revenue from Contracts with Customers Revenue from Contracts with Customers (Schedule of Contract with Customer, Asset and Liability) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Bank Card Transaction Fees [Member]
Contract with Customer, Asset and Liability [Line Items]
Contract with Customer, Receivable	$ 11,016	$ 13,035	$ 10,978	$ 13,315
Trust Fees [Member]
Contract with Customer, Asset and Liability [Line Items]
Contract with Customer, Receivable	2,720	2,721	3,116	2,802
Deposit Account Charges and Other Fees [Member]
Contract with Customer, Asset and Liability [Line Items]
Contract with Customer, Receivable	5,265	6,107	4,682	5,597
Consumer Brokerage Services [Member]
Contract with Customer, Asset and Liability [Line Items]
Contract with Customer, Receivable	$ 526	$ 559	$ 690	$ 380

XML

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Private equity investments	$ 85,877	$ 85,659
Fair Value Hierarchy, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Auction Rate Securities Available For Sale	14,500
Private equity investments	$ 85,877	$ 85,659

XML

Fair Value Measurements (Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgages Held-for-sale, Fair Value Disclosure	$ 8,908,000	$ 13,529,000
U.S. government and federal agency obligations	877,921,000	907,652,000
Government-sponsored enterprise obligations	197,979,000	195,778,000
State and municipal obligations	1,274,200,000	1,328,039,000
Agency mortgage-backed securities	3,412,399,000	3,214,985,000
Non-agency mortgage-backed securities	1,060,008,000	1,047,716,000
Other asset-backed securities	1,470,516,000	1,511,614,000
Other debt securities	334,867,000	332,257,000
Trading securities	30,427,000	27,059,000
Equity securities with a readily determinable fair value	2,808,000	2,585,000
Private equity investments	85,877,000	85,659,000
Derivative Assets	51,691,000	41,210,000
Assets held in trust for deferred compensation plan	14,897,000	12,968,000
Assets, Fair Value Disclosure	8,822,498,000	8,721,051,000
Derivative Liabilities	10,300,000	13,421,000
Liabilities held in trust for deferred compensation plan	14,897,000	12,968,000
Total Liabilities	25,197,000	26,389,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgages Held-for-sale, Fair Value Disclosure	0	0
U.S. government and federal agency obligations	877,921,000	907,652,000
Government-sponsored enterprise obligations	0	0
State and municipal obligations	0	0
Agency mortgage-backed securities	0	0
Non-agency mortgage-backed securities	0	0
Other asset-backed securities	0	0
Other debt securities	0	0
Trading securities	0	0
Equity securities with a readily determinable fair value	2,808,000	2,585,000
Private equity investments	0	0
Derivative Assets	0	0
Assets held in trust for deferred compensation plan	14,897,000	12,968,000
Assets, Fair Value Disclosure	895,626,000	923,205,000
Derivative Liabilities	0	0
Liabilities held in trust for deferred compensation plan	14,897,000	12,968,000
Total Liabilities	14,897,000	12,968,000
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgages Held-for-sale, Fair Value Disclosure	8,908,000	13,529,000
U.S. government and federal agency obligations	0	0
Government-sponsored enterprise obligations	197,979,000	195,778,000
State and municipal obligations	1,259,671,000	1,313,881,000
Agency mortgage-backed securities	3,412,399,000	3,214,985,000
Non-agency mortgage-backed securities	1,060,008,000	1,047,716,000
Other asset-backed securities	1,470,516,000	1,511,614,000
Other debt securities	334,867,000	332,257,000
Trading securities	30,427,000	27,059,000
Equity securities with a readily determinable fair value	0	0
Private equity investments	0	0
Derivative Assets	50,776,000	40,627,000
Assets held in trust for deferred compensation plan	0	0
Assets, Fair Value Disclosure	7,825,551,000	7,697,446,000
Derivative Liabilities	10,190,000	13,328,000
Liabilities held in trust for deferred compensation plan	0	0
Total Liabilities	10,190,000	13,328,000
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgages Held-for-sale, Fair Value Disclosure	0	0
U.S. government and federal agency obligations	0	0
Government-sponsored enterprise obligations	0	0
State and municipal obligations	14,529,000	14,158,000
Agency mortgage-backed securities	0	0
Non-agency mortgage-backed securities	0	0
Other asset-backed securities	0	0
Other debt securities	0	0
Trading securities	0	0
Equity securities with a readily determinable fair value	0	0
Private equity investments	85,877,000	85,659,000
Derivative Assets	915,000	583,000
Assets held in trust for deferred compensation plan	0	0
Assets, Fair Value Disclosure	101,321,000	100,400,000
Derivative Liabilities	110,000	93,000
Liabilities held in trust for deferred compensation plan	0	0
Total Liabilities	$ 110,000	$ 93,000

XML

Fair Value Measurements (Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 100,307	$ 73,271
Total gains or losses (realized /unrealized), included in earnings	(1,527)	4,470
Total gains or losses (realized/unrealized) included in other comprehensive income (loss)	364	133
Discount accretion	7	9
Purchase of private equity securities	2,060	4,879
Sales And Repayments Of Private Equity Securities	0	(20)
Capitalized interest/dividends	0	35
Sale Of Risk Participation Agreement	0	(148)
Ending balance	101,211	82,629
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end	(991)	5,050
State and Municipal Obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	14,158	17,016
Total gains or losses (realized /unrealized), included in earnings	0	0
Total gains or losses (realized/unrealized) included in other comprehensive income (loss)	364	133
Discount accretion	7	9
Purchase of private equity securities	0	0
Sales And Repayments Of Private Equity Securities	0	0
Capitalized interest/dividends	0	0
Sale Of Risk Participation Agreement	0	0
Ending balance	14,529	17,158
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end	0	0
Private Equity Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	85,659	55,752
Total gains or losses (realized /unrealized), included in earnings	(1,842)	4,305
Total gains or losses (realized/unrealized) included in other comprehensive income (loss)	0	0
Discount accretion	0	0
Purchase of private equity securities	2,060	4,879
Sales And Repayments Of Private Equity Securities	0	(20)
Capitalized interest/dividends	0	35
Sale Of Risk Participation Agreement	0	0
Ending balance	85,877	64,951
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end	(1,842)	4,305
Derivative Level Three Unobservable Inputs [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	490	503
Total gains or losses (realized /unrealized), included in earnings	315	165
Total gains or losses (realized/unrealized) included in other comprehensive income (loss)	0	0
Discount accretion	0	0
Purchase of private equity securities	0	0
Sales And Repayments Of Private Equity Securities	0	0
Capitalized interest/dividends	0	0
Sale Of Risk Participation Agreement	0	(148)
Ending balance	805	520
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end	$ 851	$ 745

XML

Fair Value Measurements (Summary Of Gains And Losses On Level 3 Assets And Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items]
Total gains or losses included in earnings	$ (1,527)	$ 4,470
Change in unrealized gains or losses relating to assets still held	(991)	5,050
Loans Fees And Sales [Member]
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items]
Total gains or losses included in earnings	287	2
Change in unrealized gains or losses relating to assets still held	823	582
Other Non-Interest Income [Member]
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items]
Total gains or losses included in earnings	28	163
Change in unrealized gains or losses relating to assets still held	28	163
Investment Securities Gains (Losses), Net [Member]
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items]
Total gains or losses included in earnings	(1,842)	4,305
Change in unrealized gains or losses relating to assets still held	$ (1,842)	$ 4,305

XML

Fair Value Measurements (Summary Of Quantitative Information About Level 3 Fair Value Measurements) (Details)	3 Months Ended
	Mar. 31, 2019 Rate
Auction Rate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique, Discounted cash flow	Discounted cash flow
Auction Rate Securities [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable Input, Estimated market recovery period	4 years
Unobservable Input, Estimated market rate	3.40%
Auction Rate Securities [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable Input, Estimated market recovery period	5 years
Unobservable Input, Estimated market rate	4.30%
Private Equity Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique, Market comparable companies	Market comparable companies
Private Equity Investments [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value inputs, Earnings before interest, taxes, depreciation, amortization (EBITDA) multiple	4.0
Private Equity Investments [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value inputs, Earnings before interest, taxes, depreciation, amortization (EBITDA) multiple	6.0
Mortgage Loan Commitments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique, Discounted cash flow	Discounted cash flow
Weighted Average, Probability of Funding	79.30%
Weighted Average, Embedded Servicing Value	1.30%
Mortgage Loan Commitments [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Probability of Funding	50.80%
Embedded Servicing Value	0.60%
Mortgage Loan Commitments [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Probability of Funding	99.10%
Embedded Servicing Value	2.40%

XML

Fair Value Measurements (Schedule of Fair Value Disclosures Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Collateral Dependent Impaired Loans	$ 129	$ 39
Loans Nonrecurring Basis Gains (Losses)	170	(12)
Mortgage servicing rights	6,341	5,105
Mortgage Servicing Rights Nonrecurring Basis Gains (Losses)	(260)	9
Long-lived assets	134	914
Long Lived Assets Nonrecurring Basis Gains (Losses)	(14)	(552)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Collateral Dependent Impaired Loans	0	0
Mortgage servicing rights	0	0
Long-lived assets	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Collateral Dependent Impaired Loans	0	0
Mortgage servicing rights	0	0
Long-lived assets	0	0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Collateral Dependent Impaired Loans	129	39
Mortgage servicing rights	6,341	5,105
Long-lived assets	$ 134	$ 914

XML

Fair Value Of Financial Instruments (Schedule Of Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for sale	$ 8,900
Securities purchased under agreements to resell	700,000	$ 700,000
Interest earning deposits with banks	166,077	689,876
Cash and due from banks	428,018	507,892
Derivative Assets	51,691	41,210
Assets held in trust for deferred compensation plan	14,897	12,968
Assets, Fair Value Disclosure	8,822,498	8,721,051
Non-interest bearing deposits	6,298,724	6,980,298
Savings, interest checking and money market deposits	11,799,346	11,685,239
Other borrowings	2,022	8,702
Derivative Liabilities	10,300	13,421
Liabilities held in trust for deferred compensation plan	14,897	12,968
Fair Value Hierarchy, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	0	0
Assets held in trust for deferred compensation plan	14,897	12,968
Assets, Fair Value Disclosure	895,626	923,205
Derivative Liabilities	0	0
Liabilities held in trust for deferred compensation plan	14,897	12,968
Fair Value Hierarchy, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	50,776	40,627
Assets held in trust for deferred compensation plan	0	0
Assets, Fair Value Disclosure	7,825,551	7,697,446
Derivative Liabilities	10,190	13,328
Liabilities held in trust for deferred compensation plan	0	0
Fair Value Hierarchy, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	915	583
Assets held in trust for deferred compensation plan	0	0
Assets, Fair Value Disclosure	101,321	100,400
Derivative Liabilities	110	93
Liabilities held in trust for deferred compensation plan	0	0
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	14,120,722	14,140,298
Loans held for sale	20,085	20,694
Investments, Fair Value Disclosure	8,792,515	8,698,666
Federal funds sold	250	3,320
Securities purchased under agreements to resell	700,000	700,000
Interest earning deposits with banks	166,077	689,876
Cash and due from banks	428,018	507,892
Derivative Assets	51,691	41,210
Assets held in trust for deferred compensation plan	14,897	12,968
Assets, Fair Value Disclosure	24,294,255	24,814,924
Non-interest bearing deposits	6,298,724	6,980,298
Savings, interest checking and money market deposits	11,799,346	11,685,239
Certificates of deposits	1,876,283	1,658,122
Federal Funds Purchased, Fair Value Disclosure	262,375	13,170
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure	1,460,376	1,943,219
Other borrowings	1,932	8,702
Derivative Liabilities	10,300	13,421
Liabilities held in trust for deferred compensation plan	14,897	12,968
Financial Liabilities Fair Value Disclosure	21,724,233	22,315,139
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	5,175,541	5,106,427
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Real Estate - Construction And Land [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	925,269	869,659
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Real Estate - Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	2,859,614	2,875,788
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Real Estate - Personal [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	2,125,087	2,127,083
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Consumer [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,893,212	1,955,572
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Revolving Home Equity [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	364,010	376,399
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Consumer Credit Card [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	772,396	814,134
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Overdrafts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	5,593	15,236
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	13,892,972	13,866,003
Loans held for sale	20,085	20,694
Investments, Fair Value Disclosure	8,792,515	8,698,666
Federal funds sold	250	3,320
Securities purchased under agreements to resell	700,588	693,228
Interest earning deposits with banks	166,077	689,876
Cash and due from banks	428,018	507,892
Derivative Assets	51,691	41,210
Assets held in trust for deferred compensation plan	14,897	12,968
Assets, Fair Value Disclosure	24,067,093	24,533,857
Non-interest bearing deposits	6,298,724	6,980,298
Savings, interest checking and money market deposits	11,799,346	11,685,239
Certificates of deposits	1,887,103	1,663,748
Federal Funds Purchased, Fair Value Disclosure	262,375	13,170
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure	1,461,343	1,944,458
Other borrowings	1,932	8,702
Derivative Liabilities	10,300	13,421
Liabilities held in trust for deferred compensation plan	14,897	12,968
Financial Liabilities Fair Value Disclosure	21,736,020	22,322,004
Estimate of Fair Value, Fair Value Disclosure [Member] | Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	5,110,404	5,017,694
Estimate of Fair Value, Fair Value Disclosure [Member] | Real Estate - Construction And Land [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	922,877	868,274
Estimate of Fair Value, Fair Value Disclosure [Member] | Real Estate - Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	2,847,793	2,846,095
Estimate of Fair Value, Fair Value Disclosure [Member] | Real Estate - Personal [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	2,076,475	2,084,370
Estimate of Fair Value, Fair Value Disclosure [Member] | Consumer [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,851,010	1,916,627
Estimate of Fair Value, Fair Value Disclosure [Member] | Revolving Home Equity [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	359,856	365,069
Estimate of Fair Value, Fair Value Disclosure [Member] | Credit Card [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	720,563	756,651
Estimate of Fair Value, Fair Value Disclosure [Member] | Overdrafts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	3,994	11,223
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Loans held for sale	0	0
Investments, Fair Value Disclosure	880,729	910,237
Federal funds sold	250	3,320
Securities purchased under agreements to resell	0	0
Interest earning deposits with banks	166,077	689,876
Cash and due from banks	428,018	507,892
Derivative Assets	0	0
Assets held in trust for deferred compensation plan	14,897	12,968
Assets, Fair Value Disclosure	1,489,971	2,124,293
Non-interest bearing deposits	6,298,724	6,980,298
Savings, interest checking and money market deposits	11,799,346	11,685,239
Certificates of deposits	0	0
Federal Funds Purchased, Fair Value Disclosure	262,375	13,170
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure	0	0
Other borrowings	0	0
Derivative Liabilities	0	0
Liabilities held in trust for deferred compensation plan	14,897	12,968
Financial Liabilities Fair Value Disclosure	18,375,342	18,691,675
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Real Estate - Construction And Land [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Real Estate - Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Real Estate - Personal [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Consumer [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Revolving Home Equity [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Credit Card [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member] | Overdrafts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Loans held for sale	20,085	20,694
Investments, Fair Value Disclosure	7,765,867	7,643,290
Federal funds sold	0	0
Securities purchased under agreements to resell	0	0
Interest earning deposits with banks	0	0
Cash and due from banks	0	0
Derivative Assets	50,776	40,627
Assets held in trust for deferred compensation plan	0	0
Assets, Fair Value Disclosure	7,836,728	7,704,611
Non-interest bearing deposits	0	0
Savings, interest checking and money market deposits	0	0
Certificates of deposits	0	0
Federal Funds Purchased, Fair Value Disclosure	0	0
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure	0	0
Other borrowings	1,035	7,751
Derivative Liabilities	10,190	13,328
Liabilities held in trust for deferred compensation plan	0	0
Financial Liabilities Fair Value Disclosure	11,225	21,079
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Real Estate - Construction And Land [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Real Estate - Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Real Estate - Personal [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Consumer [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Revolving Home Equity [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Credit Card [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member] | Overdrafts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	13,892,972	13,866,003
Loans held for sale	0	0
Investments, Fair Value Disclosure	145,919	145,139
Federal funds sold	0	0
Securities purchased under agreements to resell	700,588	693,228
Interest earning deposits with banks	0	0
Cash and due from banks	0	0
Derivative Assets	915	583
Assets held in trust for deferred compensation plan	0	0
Assets, Fair Value Disclosure	14,740,394	14,704,953
Non-interest bearing deposits	0	0
Savings, interest checking and money market deposits	0	0
Certificates of deposits	1,887,103	1,663,748
Federal Funds Purchased, Fair Value Disclosure	0	0
SecuritiesSold under Agreements to Repurchase, Fair Value Disclosure	1,461,343	1,944,458
Other borrowings	897	951
Derivative Liabilities	110	93
Liabilities held in trust for deferred compensation plan	0	0
Financial Liabilities Fair Value Disclosure	3,349,453	3,609,250
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	5,110,404	5,017,694
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Construction And Land [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	922,877	868,274
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	2,847,793	2,846,095
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Personal [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	2,076,475	2,084,370
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,851,010	1,916,627
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Revolving Home Equity [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	359,856	365,069
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer Credit Card [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	720,563	756,651
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Overdrafts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	$ 3,994	$ 11,223