Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

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

The table below summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016, segregated by the level of the valuation inputs within the fair value hierarchy of ASC Topic 820 utilized to measure fair value.



	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
June 30, 2017
Securities available for sale:
U.S. Treasury	$	4,224,254	$	—	$	—	$	4,224,254
Residential mortgage-backed securities	—		705,621		—		705,621
States and political subdivisions	—		5,811,342		—		5,811,342
Other	—		42,520		—		42,520
Trading account securities:
U.S. Treasury	17,726		—		—		17,726
States and political subdivisions	—		9,874		—		9,874
Derivative assets:
Interest rate swaps, caps and floors	—		26,958		—		26,958
Commodity swaps and options	—		5,043		—		5,043
Foreign currency forward contracts	19		—		—		19
Derivative liabilities:
Interest rate swaps, caps and floors	—		27,556		—		27,556
Commodity swaps and options	—		4,807		—		4,807
Foreign currency forward contracts	41		—		—		41
December 31, 2016
Securities available for sale:
U.S. Treasury	$	4,019,731	$	—	$	—	$	4,019,731
Residential mortgage-backed securities	—		785,167		—		785,167
States and political subdivisions	—		5,355,885		—		5,355,885
Other	—		42,494		—		42,494
Trading account securities:
U.S. Treasury	16,594		—		—		16,594
States and political subdivisions	—		109		—		109
Derivative assets:
Interest rate swaps, caps and floors	—		29,059		—		29,059
Commodity swaps and options	—		6,179		—		6,179
Foreign currency forward contracts	29		—		—		29
Derivative liabilities:
Interest rate swaps, caps and floors	—		29,968		—		29,968
Commodity swaps and options	—		5,963		—		5,963
Foreign currency forward contracts	33		—		—		33

Impaired Loans Remeasured And Reported At Fair Value Specific Valuation Allowance Allocation Method Of Underlying Collateral [Table Text Block]

The following table presents impaired loans that were remeasured and reported at fair value through a specific valuation allowance allocation of the allowance for loan losses based upon the fair value of the underlying collateral during the reported periods.



	Six Months Ended June 30, 2017					Six Months Ended June 30, 2016
	Level 2		Level 3			Level 2		Level 3
Carrying value of impaired loans before allocations	$	—	$	21,686		$	—	$	11,183
Specific valuation allowance (allocations) reversals of prior allocations	—		(561		)	—		(2,944		)
Fair value	$	—	$	21,125		$	—	$	8,239

Foreclosed Assets Remeasured and Reported at Fair Value

The following table presents foreclosed assets that were remeasured and reported at fair value during the reported periods:



	Six Months Ended June 30, 2017
	2017			2016
Foreclosed assets remeasured at initial recognition:
Carrying value of foreclosed assets prior to remeasurement	$	—		$	425
Charge-offs recognized in the allowance for loan losses	—			(3		)
Fair value	$	—		$	422
Foreclosed assets remeasured subsequent to initial recognition:
Carrying value of foreclosed assets prior to remeasurement	$	89		$	—
Write-downs included in other non-interest expense	(16		)	—
Fair value	$	73		$	—

Estimated Fair Values of Financial Instruments

The estimated fair values of financial instruments that are reported at amortized cost in our consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows:



	June 30, 2017				December 31, 2016
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	3,706,315	$	3,706,315	$	4,141,445	$	4,141,445
Securities held to maturity	1,596,262		1,630,665		2,250,460		2,262,747
Cash surrender value of life insurance policies	178,987		178,987		177,884		177,884
Accrued interest receivable	157,151		157,151		156,714		156,714
Level 3 inputs:
Loans, net	12,362,780		12,384,234		11,822,347		11,903,956
Financial liabilities:
Level 2 inputs:
Deposits	25,613,573		25,608,770		25,811,575		25,812,039
Federal funds purchased and repurchase agreements	924,867		924,867		976,992		976,992
Junior subordinated deferrable interest debentures	136,155		137,115		136,127		137,115
Subordinated notes payable and other borrowings	98,473		102,280		99,990		100,000
Accrued interest payable	2,307		2,307		1,204		1,204