Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 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
September 30, 2017
Securities available for sale:
U.S. Treasury	$	3,473,628	$	—	$	—	$	3,473,628
Residential mortgage-backed securities	—		681,195		—		681,195
States and political subdivisions	—		5,987,739		—		5,987,739
Other	—		42,538		—		42,538
Trading account securities:
U.S. Treasury	18,814		—		—		18,814
States and political subdivisions	—		907		—		907
Derivative assets:
Interest rate swaps, caps and floors	—		23,974		—		23,974
Commodity swaps and options	—		3,404		—		3,404
Foreign currency forward contracts	139		—		—		139
Derivative liabilities:
Interest rate swaps, caps and floors	—		18,376		—		18,376
Commodity swaps and options	—		3,004		—		3,004
Foreign currency forward contracts	104		—		—		104
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.



	Nine Months Ended September 30, 2017					Nine Months Ended September 30, 2016
	Level 2		Level 3			Level 2		Level 3
Carrying value of impaired loans before allocations	$	—	$	64,287		$	—	$	11,023
Specific valuation allowance (allocations) reversals of prior allocations	—		(13,477		)	—		(3,750		)
Fair value	$	—	$	50,810		$	—	$	7,273

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:



	Nine Months Ended September 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		$	492
Write-downs included in other non-interest expense	(16		)	(217		)
Fair value	$	73		$	275

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:



	September 30, 2017				December 31, 2016
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	5,091,903	$	5,091,903	$	4,141,445	$	4,141,445
Securities held to maturity	1,442,222		1,476,653		2,250,460		2,262,747
Cash surrender value of life insurance policies	179,789		179,789		177,884		177,884
Accrued interest receivable	118,035		118,035		156,714		156,714
Level 3 inputs:
Loans, net	12,552,001		12,574,862		11,822,347		11,903,956
Financial liabilities:
Level 2 inputs:
Deposits	26,403,269		26,398,885		25,811,575		25,812,039
Federal funds purchased and repurchase agreements	997,919		997,919		976,992		976,992
Junior subordinated deferrable interest debentures	136,170		137,115		136,127		137,115
Subordinated notes payable and other borrowings	98,512		102,072		99,990		100,000
Accrued interest payable	1,737		1,737		1,204		1,204