Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Measurements

Schedule of financial assets and financial liabilities measured at fair value on a recurring basis

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
	(dollars in thousands)
March 31, 2013
Securities available for sale:
U.S. Treasury securities	$	—	$	104,517	$	—	$	104,517
Obligations of U.S. government corporations and agencies	—		338,211		—		338,211
Obligations of states and political subdivisions	—		281,794		—		281,794
Residential mortgage-backed securities	—		198,094		—		198,094
Corporate debt securities	—		24,628		—		24,628
Mutual funds and other equity securities	5,335		—		—		5,335
	$	5,335	$	947,244	$	—	$	952,579
December 31, 2012
Securities available for sale:
U.S. Treasury securities	$	—	$	104,656	$	—	$	104,656
Obligations of U.S. government corporations and agencies	—		370,194		—		370,194
Obligations of states and political subdivisions	—		280,288		—		280,288
Residential mortgage-backed securities	—		217,715		—		217,715
Corporate debt securities	24,714		—		—		24,714
Mutual funds and other equity securities	3,930		—		—		3,930
	$	28,644	$	972,853	$	—	$	1,001,497

Schedule of assets and liabilities measured at fair value on a non-recurring basis

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
	(dollars in thousands)
March 31, 2013
Impaired loans	$	—	$	—	$	2,669	$	2,669
Foreclosed assets	—		—		123		123
December 31, 2012
Impaired loans	$	—	$	—	$	2,284	$	2,284
Foreclosed assets	—		—		511		511

Schedule of quantitative information about Level 3 fair value measurements

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable
March 31, 2013	Estimate		Techniques	Input	Range
	(dollars in thousands)
Impaired loans	$	2,669	Appraisal of collateral	Appraisal adjustments	-2.3% to -100.0%
Foreclosed assets	123		Appraisal of collateral	Appraisal adjustments	-38.2% to -100.0%

Schedule of estimated fair values of financial instruments

	March 31, 2013				December 31, 2012
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
	(dollars in thousands)
Financial assets:
Level 2 inputs:
Cash and due from banks	$	447,608	$	447,608	$	351,255	$	351,255
Loans held for sale	30,833		31,463		40,003		40,971
Accrued interest receivable	12,795		12,795		12,275		12,275
Level 3 inputs:
Loans, net	1,982,074		1,998,039		1,985,095		2,006,588
Financial liabilities:
Level 2 inputs:
Deposits	$	3,016,945	$	3,022,715	$	2,980,292	$	2,987,524
Securities sold under agreements to repurchase	130,809		130,809		139,024		139,024
Long-term debt	6,000		6,042		7,000		7,120
Junior subordinated debt owed to unconsolidated trusts	55,000		55,000		55,000		55,000
Accrued interest payable	963		963		1,128		1,128