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FAIR VALUE DISCLOSURES (Tables)

3 Months Ended

Mar. 31, 2013

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the balances of the assets and liabilities measured at fair value on a recurring basis as of March 31, 2013 and 2012:

	March 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	1,517,725	$	-	$	1,517,725
Government agency issued residential
mortgage-backed securities		-		334,550		-		334,550
Government agency issued commercial
mortgage-backed securities		-		196,459		-		196,459
Obligations of states and
political subdivisions		-		550,475		-		550,475
Other		869		7,098		-		7,967
Mortgage servicing rights		-		-		41,478		41,478
Derivative instruments		-		-		49,392		49,392
Total	$	869	$	2,606,307	$	90,870	$	2,698,046
Liabilities:
Derivative instruments	$	-	$	-	$	47,251	$	47,251

	March 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	1,578,441	$	-	$	1,578,441
Government agency issued residential
mortgage-backed securities		-		385,146		-		385,146
Government agency issued commercial
mortgage-backed securities		-		31,647		-		31,647
Obligations of states and
political subdivisions		-		568,642		-		568,642
Other		665		8,994		-		9,659
Mortgage servicing rights		-		-		35,668		35,668
Derivative instruments		-		-		53,057		53,057
Total	$	665	$	2,572,870	$	88,725	$	2,662,260
Liabilities:
Derivative instruments	$	-	$	-	$	51,208	$	51,208

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 three-month periods ended March 31, 2013 and 2012:

	Mortgage						Available-
	Servicing			Derivative			for-sale
	Rights			Instruments			Securities
	(In thousands)
Balance at December 31, 2012	$	37,882		$	2,911		$	-
Year to date net gains (losses) included in:
Net income		(672	)		(770	)		-
Other comprehensive income		-			-			-
Purchases, sales, issuances and settlements, net		4,268			-			-
Transfers in and/or out of Level 3		-			-			-
Balance at March 31, 2013	$	41,478		$	2,141		$	-
Net unrealized gains (losses) included in net income for the
quarter relating to assets and liabilities held at March 31, 2013	$	1,037		$	(770	)	$	-

	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		1,969		1,507		-
Other comprehensive income		-		-		-
Purchases, sales, issuances and settlements, net		3,525		-		-
Transfers in and/or out of Level 3		-		-		-
Balance at March 31, 2012	$	35,668	$	1,849	$	-
Net unrealized gains included in net income for the
quarter relating to assets and liabilities held at March 31, 2012	$	3,697	$	1,507	$	-

Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis

The following tables present the balances of assets and liabilities measured at fair value on a nonrecurring basis as of March 31, 2013 and 2012:

	March 31, 2013
									Total
	Level 1		Level 2		Level 3		Total		Losses
Assets:	(In thousands)
Loans held for sale	$	-	$	105,523	$	-	$	105,523	$	-
Impaired loans		-		-		137,791		137,791		(11,658	)
Other real estate owned		-		-		96,314		96,314		(31,507	)

	March 31, 2012
									Total
	Level 1		Level 2		Level 3		Total		Losses
Assets:	(In thousands)
Loans held for sale	$	-	$	110,294	$	-	$	110,294	$	-
Impaired loans		-		-		211,112		211,112		(25,546	)
Other real estate owned		-		-		167,808		167,808		(26,520	)

Carrying and Fair Value Information

The following table presents carrying and fair value information of financial instruments at March 31, 2013 and December 31, 2012:

	March 31, 2013						December 31, 2012
	Carrying			Fair			Carrying			Fair
	Value			Value			Value			Value
Assets:	(In thousands)
Cash and due from banks	$	147,947		$	147,947		$	223,814		$	223,814
Interest bearing deposits with other banks		969,506			969,506			979,800			979,800
Available-for-sale securities		2,607,176			2,607,176			2,434,032			2,434,032
Net loans and leases		8,418,937			8,430,959			8,472,523			8,546,810
Loans held for sale		105,523			105,616			129,138			129,230

Liabilities:
Noninterest bearing deposits		2,582,859			2,582,859			2,545,169			2,545,169
Savings and interest bearing deposits		6,053,066			6,053,066			5,945,281			5,945,281
Other time deposits		2,529,001			2,563,359			2,597,696			2,634,099
Federal funds purchased and securities
sold under agreement to repurchase
and other short-term borrowings		353,742			353,142			414,611			414,399
Long-term debt and other borrowings		193,863			205,655			193,867			205,072

Derivative instruments:
Forward commitments to sell fixed rate
mortgage loans		(968	)		(968	)		(536	)		(536	)
Commitments to fund fixed rate
mortgage loans		3,666			3,666			4,081			4,081
Interest rate swap position to receive		45,727			45,727			51,517			51,517
Interest rate swap position to pay		(46,284	)		(46,284	)		(52,154	)		(52,154	)

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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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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-Name Statement of Financial Accounting Standard (FAS)

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-Name Statement of Financial Accounting Standard (FAS)

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