Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands):

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Available-for-sale investment securities:
Obligations of U. S. government sponsored-enterprises and agencies	$	—	$	120,117	$	—	$	120,117
Obligations of states and political subdivisions		15,025		1,059,633		—		1,074,658
Corporate bonds		—		95,940		—		95,940
Residential mortgage-backed securities		42,975		702,498		—		745,473
Commercial mortgage-backed securities		—		132,840		—		132,840
Other securities		4,800		—		—		4,800
Total	$	62,800	$	2,111,028	$	—	$	2,173,828

Other Real Estate Owned

The following table presents other real estate owned that were re-measured subsequent to their initial transfer to other real estate owned (dollars in thousands):

	Three Months Ended June 30,
	2014			2013
Carrying value of other real estate owned prior to re-measurement	$	708		$	—
Write-downs included in gain (loss) on sale of other real estate owned		(89	)		—
Fair value	$	619		$	—

	Six Months Ended June 30,
	2014			2013
Carrying value of other real estate owned prior to re-measurement	$	708		$	1,827
Write-downs included in gain (loss) on sale of other real estate owned		(89	)		(304	)
Fair value	$	619		$	1,523

Schedule of Estimated Fair Values and Carrying Values of All Financial Instruments

The estimated fair values and carrying values of all financial instruments under current authoritative guidance at June 30, 2014 and December 31, 2013, were as follows (in thousands):

	June 30, 2014				December 31, 2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value		Fair Value Hierarchy
Cash and due from banks	$	166,237	$	166,237	$	183,084	$	183,084	Level 1
Federal funds sold		3,110		3,110		3,430		3,430	Level 1
Interest-bearing deposits in banks		68,331		68,331		25,498		25,498	Level 1
Interest-bearing time deposits in banks		24,188		24,266		31,917		32,059	Level 2
Available-for-sale securities		2,173,828		2,173,828		2,057,723		2,057,723	Levels 1 and 2
Held-to-maturity securities		568		576		684		694	Level 2
Loans		2,750,752		2,764,118		2,655,548		2,667,743	Level 3
Accrued interest receivable		27,583		27,583		26,865		26,865	Level 2
Deposits with stated maturities		692,937		695,006		686,626		688,876	Level 2
Deposits with no stated maturities		3,625,521		3,625,521		3,448,448		3,448,448	Level 1
Short term borrowings		434,583		434,583		463,888		463,888	Level 2
Accrued interest payable		291		291		299		299	Level 2