Fair Value (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

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

The following tables present for each of the fair value hierarchy levels the Company’s assets and liabilities that are measured at fair value (in thousands) on a recurring basis in the consolidated balance sheets.

			March 31, 2013
	Level 1		Level 2		Total
Assets
Available for sale debt securities:
U.S. Treasury and government agency securities	$	157	$	—	$	157
Municipal obligations		—		55,913		55,913
Corporate debt securities		3,750		—		3,750
Mortgage-backed securities		—		2,594,725		2,594,725
Collateralized mortgage obligations		—		193,623		193,623
Equity securities		5,371		—		5,371
Total available-for-sale securities		9,278		2,844,261		2,853,539
Derivative assets (1)		—		21,254		21,254
Total recurring fair value measurements—assets	$	9,278	$	2,865,515	$	2,874,793
Liabilities
Derivative liabilities (1)	$	—	$	22,075	$	22,075
Total recurring fair value measurements—liabilities	$	—	$	22,075	$	22,075

(1) For further disaggregation of derivative assets and liabilities, see Note 5—Derivatives

			December 31, 2012
	Level 1		Level 2		Total
Assets
Available for sale debt securities:
U.S. Treasury and government agency securities	$	18,265	$	—	$	18,265
Municipal obligations		—		50,165		50,165
Corporate debt securities		2,250		—		2,250
Mortgage-backed securities		—		1,774,406		1,774,406
Collateralized mortgage obligations		—		198,077		198,077
Equity securities		5,279		—		5,279
Total available-for-sale securities		25,794		2,022,648		2,048,442
Derivative assets (1)		—		20,093		20,093
Total recurring fair value measurements—assets	$	25,794	$	2,042,741	$	2,068,535
Liabilities
Derivative liabilities (1)	$	—	$	21,100	$	21,100
Total recurring fair value measurements—liabilities	$	—	$	21,100	$	21,100

(1) For further disaggregation of derivative assets and liabilities, see Note 5—Derivatives

Schedule of Financial Assets Measured at Fair Value on Nonrecurring Basis

The following tables present for each of the fair value hierarchy levels the Company’s financial assets that are measured at fair value (in thousands) on a nonrecurring basis.

			March 31, 2013
	(Level 1)		(Level 2)		(Level 3)		Total
Collateral dependent impaired loans	$	—	$	42,504	$	33,072	$	75,576
Other real estate owned		—		—		38,146		38,146
Total nonrecurring fair value measurements	$	—	$	42,504	$	71,218	$	113,722
			December 31, 2012
	(Level 1)		(Level 2)		(Level 3)		Total
Collateral dependent impaired loans	$	—	$	72,694	$	3,719	$	76,413
Other real estate owned		—		—		45,040		45,040
Total nonrecurring fair value measurements	$	—	$	72,694	$	48,759	$	121,453

Schedule of Estimated Fair Values of Financial Instruments

The following tables present the estimated fair values of the Company’s financial instruments by fair value hierarchy levels and the corresponding carrying amount at March 31, 2013 and December 31, 2012 (in thousands):

	March 31, 2013
	(Level 1)		(Level 2)		(Level 3)		Total Fair Value		Carrying Amount
Financial assets:
Cash, interest-bearing bank deposits, and federal funds sold	$	777,152	$	—	$	—	$	777,152	$	777,152
Available for sale securities		9,278		2,844,261		—		2,853,539		2,853,539
Held to maturity securities		—		1,848,886		—		1,848,886		1,808,740
Loans, net		—		42,504		11,325,804		11,368,308		11,344,985
Loans held for sale		—		34,813		—		34,813		34,813
Accrued interest receivable		46,390		—		—		46,390		46,390
Derivative financial instruments		—		21,254		—		21,254		21,254
Financial liabilities:
Deposits	$	—	$	—	$	15,263,799	$	15,263,799	$	15,253,351
Federal funds purchased		32,814		—		—		32,814		32,814
Securities sold under agreements to repurchase		689,723		—		—		689,723		689,723
Long-term debt		—		406,304		—		406,304		393,920
Accrued interest payable		6,374		—		—		6,374		6,374
Derivative financial instruments		—		22,075		—		22,075		22,075

	December 31, 2012
	(Level 1)		(Level 2)		(Level 3)		Total Fair Value		Carrying Amount
Financial assets:
Cash, interest-bearing bank deposits, and federal funds sold	$	1,948,679	$	—	$	—	$	1,948,679	$	1,948,679
Available for sale securities		25,794		2,022,648		—		2,048,442		2,048,442
Held to maturity securities		—		1,710,465		—		1,710,465		1,668,018
Loans, net		—		72,694		11,494,409		11,567,103		11,441,631
Loans held for sale		—		50,605		—		50,605		50,605
Accrued interest receivable		45,616		—		—		45,616		45,616
Derivative financial instruments		—		20,093		—		20,093		20,093
Financial liabilities:
Deposits	$	—	$	—	$	15,757,044	$	15,757,044	$	15,744,188
Federal funds purchased		25,704		—		—		25,704		25,704
Securities sold under agreements to repurchase		613,429		—		—		613,429		613,429
Long-term debt		—		410,791		—		410,791		396,589
Accrued interest payable		4,814		—		—		4,814		4,814
Derivative financial instruments		—		21,100		—		21,100		21,100