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FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2012

Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis

The following tables present the balances of the assets and liabilities measured at fair value on a recurring basis as of June 30, 2012 and 2011:

	June 30, 2012
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	1,481,060	$	-	$	1,481,060
Government agency issued residential mortgage-backed securities		-		360,489		-		360,489
Government agency issued commercial mortgage-backed securities		-		35,895		-		35,895
Obligations of states and political subdivisions		-		577,629		-		577,629
Other		673		7,085		-		7,758
Mortgage servicing rights		-		-		34,167		34,167
Derivative instruments		-		-		59,389		59,389
Total	$	673	$	2,462,158	$	93,556	$	2,556,387
Liabilities:
Derivative instruments	$	-	$	-	$	56,567	$	56,567

	June 30, 2011
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	1,599,231	$	-	$	1,599,231
Government agency issued residential mortgage-backed securities		-		430,402		-		430,402
Government agency issued commercial mortgage-backed securities		-		31,627		-		31,627
Obligations of states and political subdivisions		-		486,653		-		486,653
Other		703		12,208		-		12,911
Mortgage servicing rights		-		-		39,455		39,455
Derivative instruments		-		-		40,338		40,338
Total	$	703	$	2,560,121	$	79,793	$	2,640,617
Liabilities:
Derivative instruments	$	-	$	-	$	39,931	$	39,931

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

The following tables present the balances of assets and liabilities measured at fair value on a nonrecurring basis as of June 30, 2012 and 2011:

	June 30, 2012
									Total
	Level 1		Level 2		Level 3		Total		Losses
Assets:	(In thousands)
Loans held for sale	$	-	$	108,134	$	-	$	108,134	$	-
Impaired loans		-		-		200,377		200,377		(23,939	)
Other real estate owned		-		-		143,615		143,615		(26,411	)

	June 30, 2011
									Total
	Level 1		Level 2		Level 3		Total		Losses
Assets:	(In thousands)
Loans held for sale	$	-	$	70,519	$	-	$	70,519	$	-
Impaired loans		-		-		303,657		303,657		(46,810	)
Other real estate owned		-		-		151,204		151,204		(12,860	)

Changes in Level Three Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the six-month periods ended June 30, 2012 and 2011:

	Mortgage				Available-
	Servicing		Derivative		for-sale
	Rights		Instruments		Securities
	(In thousands)

Balance at December 31, 2011	$	30,174	$	342	$	-
Year to date net gains included in:
Net income		3,993		2,480		-
Other comprehensive income		-		-		-
Purchases, sales, issuances and settlements, net		-		-		-
Transfers in and/or out of Level 3		-		-		-
Balance at June 30, 2012	$	34,167	$	2,822	$	-
Net unrealized gains included in net income for the quarter relating to assets and liabilities held at June 30, 2012	$	296	$	973	$	-

	Mortgage					Available-
	Servicing		Derivative			for-sale
	Rights		Instruments			Securities
	(In thousands)

Balance at December 31, 2010	$	38,642	$	2,685		$	-
Year to date net gains (losses) included in:
Net income (loss)		813		(2,278	)		-
Other comprehensive income		-		-			-
Purchases, sales, issuances and settlements, net		-		-			-
Transfers in and/or out of Level 3		-		-			-
Balance at June 30, 2011	$	39,455	$	407		$	-
Net unrealized gains included in net income for the quarter relating to assets and liabilities held at June 30, 2011	$	3,839	$	53		$	-

Carrying and Fair Value Information

The following table presents carrying and fair value information of financial instruments at June 30, 2012 and December 31, 2011:

	June 30, 2012						December 31, 2011
	Carrying			Fair			Carrying			Fair
	Value			Value			Value			Value
	(In thousands)
Assets:
Cash and due from banks	$	224,084		$	224,084		$	195,681		$	195,681
Interest bearing deposits with other banks		603,458			603,458			303,663			303,663
Available-for-sale securities		2,462,831			2,462,831			2,513,518			2,513,518
Net loans and leases		8,556,548			8,609,787			8,675,193			8,730,819
Loans held for sale		108,134			108,190			83,458			83,503

Liabilities:
Noninterest bearing deposits		2,312,044			2,312,044			2,269,799			2,269,799
Savings and interest bearing deposits		5,865,498			5,865,498			5,698,527			5,698,527
Other time deposits		2,778,795			2,818,274			2,986,863			3,029,147
Federal funds purchased and securities sold under agreement to repurchase and other short-term borrowings		363,490			363,095			375,433			375,285
Long-term debt and other borrowings		193,877			204,011			193,880			200,166

Derivative instruments:

Forward commitments to sell fixed rate mortgage loans		(1,474	)		(1,474	)		(1,057	)		(1,057	)
Commitments to fund fixed rate mortgage loans		4,975			4,975			2,140			2,140
Interest rate swap position to receive		54,414			54,414			53,608			53,608
Interest rate swap position to pay		(55,093	)		(55,093	)		(54,349	)		(54,349	)

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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