Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2011

Summary of Assets And Liabilities Measured At Fair Value on A Recurring Basis


			Fair Value Measurements Using
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable Inputs
(In thousands)	Total Fair Value		(Level 1)		(Level 2)		(Level 3)

June 30, 2011
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	356,246	$	348,751	$	7,495	$	—
Government-sponsored enterprise obligations		264,553		—		264,553		—
State and municipal obligations		1,193,561		—		1,051,621		141,940
Agency mortgage-backed securities		2,913,805		—		2,913,805		—
Non-agency mortgage-backed securities		385,937		—		385,937		—
Other asset-backed securities		2,394,627		—		2,394,627		—
Other debt securities		168,859		—		168,859		—
Equity securities		40,046		24,170		15,876		—
Trading securities		32,074		—		32,074		—
Private equity investments		61,173		—		—		61,173
Derivatives *		18,495		—		18,357		138
Assets held in trust		4,692		4,692		—		—

Total assets		7,834,068		377,613		7,253,204		203,251

Liabilities:
Derivatives *		19,687		—		19,261		426

Total liabilities	$	19,687	$	—	$	19,261	$	426

December 31, 2010
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	455,537	$	448,087	$	7,450	$	—
Government-sponsored enterprise obligations		201,895		—		201,895		—
State and municipal obligations		1,119,485		—		969,396		150,089
Agency mortgage-backed securities		2,491,199		—		2,491,199		—
Non-agency mortgage-backed securities		455,790		—		455,790		—
Other asset-backed securities		2,354,260		—		2,354,260		—
Other debt securities		176,964		—		176,964		—
Equity securities		39,173		22,900		16,273		—
Trading securities		11,710		—		11,710		—
Private equity investments		53,860		—		—		53,860
Derivatives *		18,823		—		18,288		535
Assets held in trust		4,213		4,213		—		—

Total assets		7,382,909		475,200		6,703,225		204,484

Liabilities:
Derivatives *		19,584		—		19,401		183

Total liabilities	$	19,584	$	—	$	19,401	$	183


*		The fair value of each class of derivative is shown in Note 10.

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


	Fair Value Measurements Using
	Significant Unobservable Inputs
	(Level 3)
	State and			Private
	Municipal			Equity
(In thousands)	Obligations			Investments			Derivatives			Total

For the three months ended June 30, 2011:
Balance at March 31, 2011	$	143,207		$	55,507		$	(8	)	$	198,706
Total gains or losses (realized/unrealized):
Included in earnings		—			2,605			(5	)		2,600
Included in other comprehensive income		(340	)		—			—			(340	)
Investment securities called		(1,025	)		—			—			(1,025	)
Discount accretion		98			—			—			98
Purchase of private equity securities		—			3,060			—			3,060
Capitalized interest/dividends		—			1			—			1
Sale of risk participation agreement		—			—			(275	)		(275	)

Balance at June 30, 2011	$	141,940		$	61,173		$	(288	)	$	202,825

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 June 30, 2011	$	—		$	2,605		$	108		$	2,713

For the six months ended June 30, 2011:
Balance at January 1, 2011	$	150,089		$	53,860		$	352		$	204,301
Total gains or losses (realized/unrealized):
Included in earnings		—			4,030			(368	)		3,662
Included in other comprehensive income		(1,611	)		—			—			(1,611	)
Investment securities called		(6,943	)		—			—			(6,943	)
Discount accretion		405			—			—			405
Purchase of private equity securities		—			3,239			—			3,239
Capitalized interest/dividends		—			44			—			44
Purchase of risk participation agreement		—			—			79			79
Sale of risk participation agreement		—			—			(351	)		(351	)

Balance at June 30, 2011	$	141,940		$	61,173		$	(288	)	$	202,825

Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2011	$	—		$	4,030		$	114		$	4,144


For the three months ended June 30, 2010:
Balance at March 31, 2010	$	158,111		$	45,124		$	(15	)	$	203,220
Total gains or losses (realized/unrealized):
Included in earnings		—			(25	)		(95	)		(120	)
Included in other comprehensive income		(4,920	)		—			—			(4,920	)
Investment securities called		(1,175	)		—			—			(1,175	)
Discount accretion		127			—			—			127
Purchase of private equity securities		—			1,200			—			1,200
Capitalized interest/dividends		—			(42	)		—			(42	)

Balance at June 30, 2010	$	152,143		$	46,257		$	(110	)	$	198,290

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 June 30, 2010	$	—		$	(25	)	$	95		$	70

For the six months ended June 30, 2010:
Balance at January 1, 2010	$	167,836		$	44,827		$	108		$	212,771
Total gains or losses (realized/unrealized):
Included in earnings		—			(2,641	)		(108	)		(2,749	)
Included in other comprehensive income		(13,407	)		—			—			(13,407	)
Investment securities called		(2,550	)		—			—			(2,550	)
Discount accretion		264			—			—			264
Purchase of private equity securities		—			3,904			—			3,904
Capitalized interest/dividends		—			167			—			167
Sale of risk participation agreement		—			—			(110	)		(110	)

Balance at June 30, 2010	$	152,143		$	46,257		$	(110	)	$	198,290

Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2010	$	—		$	(2,641	)	$	100		$	(2,541	)

Summary of Gains And Losses on Level 3 Assets and Liabilities


						Investment
						Securities
				Other Non-		Gains
	Loan Fees			Interest		(Losses),
(In thousands)	and Sales			Income		Net			Total

For the three months ended June 30, 2011:
Total gains or losses included in earnings	$	(34	)	$	29	$	2,605		$	2,600

Change in unrealized gains or losses relating to assets still held at June 30, 2011	$	79		$	29	$	2,605		$	2,713

For the six months ended June 30, 2011:
Total gains or losses included in earnings	$	(403	)	$	35	$	4,030		$	3,662

Change in unrealized gains or losses relating to assets still held at June 30, 2011	$	79		$	35	$	4,030		$	4,144


For the three months ended June 30, 2010:
Total gains or losses included in earnings	$	(103	)	$	8	$	(25	)	$	(120	)

Change in unrealized gains or losses relating to assets still held at June 30, 2010	$	87		$	8	$	(25	)	$	70

For the six months ended June 30, 2010:
Total gains or losses included in earnings	$	(121	)	$	13	$	(2,641	)	$	(2,749	)

Change in unrealized gains or losses relating to assets still held at June 30, 2010	$	87		$	13	$	(2,641	)	$	(2,541	)

Summary of Adjustments to Fair Value And Related Level Of Valuation Assumptions


	Fair Value Measurements Using
			Quoted
			Prices in
			Active						Total Gains
			Markets		Significant				(Losses)
			for		Other		Significant		Recognized
			Identical		Observable		Unobservable		During the Six
			Assets		Inputs		Inputs		Months Ended
(In thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)		June 30

June 30, 2011
Loans	$	39,957	$	—	$	—	$	39,957	$	(8,101	)
Mortgage servicing rights		1,195		—		—		1,195		11
Foreclosed assets		2,163		—		—		2,163		(377	)
Long-lived assets		4,403		—		—		4,403		(1,511	)


June 30, 2010
Loans	$	30,877	$	—	$	—	$	30,877	$	(9,201	)
Mortgage servicing rights		1,186		—		—		1,186		(290	)
Foreclosed assets		8,156		—		—		8,156		(1,813	)
Long-lived assets		4,300		—		—		4,300		(969	)