Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Measurements [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

	June 30, 2018
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Available for sale debt securities:
U.S. Treasury and government agency securities	$	—	$	90,985	$	—	$	90,985
Municipal obligations		—		236,010		—		236,010
Corporate debt securities		—		3,500		—		3,500
Residential mortgage-backed securities		—		1,774,871		—		1,774,871
Commercial mortgage-backed securities		—		729,532		—		729,532
Collateralized mortgage obligations		—		146,775		—		146,775
Total available for sale securities		—		2,981,673		—		2,981,673
Derivative assets (1)		—		11,428		—		11,428
Total recurring fair value measurements - assets	$	—	$	2,993,101	$	—	$	2,993,101
Liabilities
Derivative liabilities (1)	$	—	$	25,953	$	—	$	25,953
Total recurring fair value measurements - liabilities	$	—	$	25,953	$	—	$	25,953

	December 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Available for sale debt securities:
U.S. Treasury and government agency securities	$	—	$	97,272	$	—	$	97,272
Municipal obligations		—		243,786		—		243,786
Corporate debt securities		—		3,500		—		3,500
Residential mortgage-backed securities		—		1,715,213		—		1,715,213
Commercial mortgage-backed securities		—		687,135		—		687,135
Collateralized mortgage obligations		—		163,963		—		163,963
Total available for sale securities		—		2,910,869		—		2,910,869
Derivative assets (1)		—		14,157		—		14,157
Total recurring fair value measurements - assets	$	—	$	2,925,026	$	—	$	2,925,026
Liabilities
Derivative liabilities (1)	$	—	$	14,389	$	—	$	14,389
Total recurring fair value measurements - liabilities	$	—	$	14,389	$	—	$	14,389

(1) For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.

Financial Assets Measured at Fair Value on Nonrecurring Basis

	June 30, 2018
(in thousands)	Level 1		Level 2		Level 3		Total
Collateral-dependent impaired loans	$	—	$	206,110	$	—	$	206,110
Other real estate owned		—		—		5,926		5,926
Total nonrecurring fair value measurements	$	—	$	206,110	$	5,926	$	212,036

	December 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Collateral-dependent impaired loans	$	—	$	184,205	$	—	$	184,205
Other real estate owned		—		—		6,928		6,928
Total nonrecurring fair value measurements	$	—	$	184,205	$	6,928	$	191,133

Estimated Fair Values of Financial Instruments

	June 30, 2018
							Total Fair		Carrying
(in thousands)	Level 1		Level 2		Level 3		Value		Amount
Financial assets:
Cash, interest-bearing bank deposits, and federal funds sold	$	459,282	$	—	$	—	$	459,282	$	459,282
Available for sale securities		—		2,981,673		—		2,981,673		2,981,673
Held to maturity securities		—		3,054,469		—		3,054,469		3,132,200
Loans, net		—		206,110		18,633,620		18,839,730		19,156,387
Loans held for sale		—		36,047		—		36,047		36,047
Derivative financial instruments		—		11,428		—		11,428		11,428
Financial liabilities:
Deposits	$	—	$	—	$	22,187,823	$	22,187,823	$	22,235,338
Federal funds purchased		525		—		—		525		525
Securities sold under  agreements to repurchase		452,994		—		—		452,994		452,994
FHLB short-term borrowings		1,860,671		—		—		1,860,671		1,860,671
Long-term debt		—		263,134		—		263,134		266,009
Derivative financial instruments		—		25,953		—		25,953		25,953

	December 31, 2017
							Total Fair		Carrying
(in thousands)	Level 1		Level 2		Level 3		Value		Amount
Financial assets:
Cash, interest-bearing bank deposits, and federal funds sold	$	479,332	$	—	$	—	$	479,332	$	479,332
Available for sale securities		—		2,910,869		—		2,910,869		2,910,869
Held to maturity securities		—		2,962,010		—		2,962,010		2,977,511
Loans, net		—		184,205		18,403,303		18,587,508		18,786,855
Loans held for sale		—		39,865		—		39,865		39,865
Derivative financial instruments		—		14,157		—		14,157		14,157
Financial liabilities:
Deposits	$	—	$	—	$	22,238,847	$	22,238,847	$	22,253,202
Federal funds purchased		140,754		—		—		140,754		140,754
Securities sold under  agreements to repurchase		430,569		—		—		430,569		430,569
FHLB short-term borrowings		1,132,567		—		—		1,132,567		1,132,567
Long-term debt		—		303,631		—		303,631		305,513
Derivative financial instruments		—		14,389		—		14,389		14,389