Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2015

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 March 31, 2015 and December 31, 2014, respectively, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands):

March 31, 2015	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Available-for-sale investment securities:
U.S. Treasury securities	$	10,983	$	—	$	—	$	10,983
Obligations of U.S. government sponsored-enterprises and agencies		—		175,117		—		175,117
Obligations of states and political subdivisions		—		1,303,492		—		1,303,492
Corporate bonds		—		93,158		—		93,158
Residential mortgage-backed securities		—		920,366		—		920,366
Commercial mortgage-backed securities		—		181,239		—		181,239
Other securities		4,975		—		—		4,975
Total	$	15,958	$	2,673,372	$	—	$	2,689,330

December 31, 2014	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Available-for-sale investment securities:
U.S. Treasury securities	$	520	$	—	$	—	$	520
Obligations of U.S. government sponsored-enterprises and agencies		—		129,755		—		129,755
Obligations of states and political subdivisions		—		1,167,628		—		1,167,628
Corporate bonds		—		94,065		—		94,065
Residential mortgage-backed securities		—		885,211		—		885,211
Commercial mortgage-backed securities		—		133,984		—		133,984
Other securities		4,693		—		—		4,693
Total	$	5,213	$	2,410,643	$	—	$	2,415,856

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 March 31,
	2015			2014
Carrying value of other real estate owned prior to remeasurement	$	10		$	—
Write-downs included in gain (loss) on sale of other real estate owned		(10	)		—
Fair value	$	—		$	—

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 March 31, 2015 and December 31, 2014, were as follows (in thousands):

	March 31,				December 31,
	2015				2014
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value		Fair Value Hierarchy
Cash and due from banks	$	142,233	$	142,233	$	190,387	$	190,387	Level 1
Federal funds sold		5,460		5,460		8,760		8,760	Level 1
Interest-bearing deposits in banks		18,275		18,275		54,324		54,324	Level 1
Interest-bearing time deposits in banks		9,170		9,185		17,002		17,032	Level 2
Available-for-sale securities		2,689,330		2,689,330		2,415,856		2,415,856	Levels 1 and 2
Held-to-maturity securities		310		317		441		447	Level 2
Loans		2,900,879		2,907,114		2,901,167		2,906,399	Level 3
Accrued interest receivable		25,238		25,238		28,998		28,998	Level 2
Deposits with stated maturities		623,108		624,926		648,992		650,893	Level 2
Deposits with no stated maturities		4,213,899		4,213,899		4,101,263		4,101,263	Level 1
Short term borrowings		401,898		401,898		367,110		367,110	Level 2
Accrued interest payable		235		235		237		237	Level 2