Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)

Assets and Liabilities Measured at Fair Value
Using Significant Unobservable Inputs (Level 3)
($ in Thousands)			Investment Securities Available for Sale		Derivative Financial Instruments
			Investment Securities Available for Sale		Derivative Financial Instruments
Balance December 31, 2011			$	856	$	(200)
	Total net gains included in income:
		Mortgage derivative gain		―		7,847
	Total net gains included in other comprehensive income:
		Unrealized investment securities gains		49		―
	Sales of investment securities			(425)		―
Balance December 31, 2012			$	480	$	7,647
	Total net losses included in income:
		Mortgage derivative loss		―		(8,640)
	Total net gains included in other comprehensive income:
		Unrealized investment securities gains		36		―
Balance September 30, 2013			$	516	$	(993)

Assets and Liabilities Measured on Nonrecurring Basis at Fair Value

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
				Fair Value Measurements Using
	September 30, 2013			Level 1		Level 2		Level 3
		($ in Thousands)
Assets:
Loans held for sale	$	102,052	$	―	$	102,052	$	―
Impaired loans ⁽¹⁾		106,796		―		―		106,796
Mortgage servicing rights		69,214		―		―		69,214

				Fair Value Measurements Using
	December 31, 2012			Level 1		Level 2		Level 3
		($ in Thousands)
Assets:
Loans held for sale	$	261,410	$	―	$	261,410	$	―
Impaired loans ⁽¹⁾		115,741		―		―		115,741
Mortgage servicing rights		45,949		―		―		45,949

Estimated fair values of financial instruments

		September 30, 2013
		Carrying				Fair Value Measurements Using
		Amount		Fair Value		Level 1		Level 2		Level 3
		($ in Thousands)
Financial assets:
Cash and due from banks	$	526,009	$	526,009	$	526,009	$	―	$	―
Interest-bearing deposits in other financial institutions		277,761		277,761		277,761		―		―
Federal funds sold and securities purchased under
agreements to resell		25,400		25,400		25,400		―		―
Investment securities held to maturity		125,095		121,489		―		121,489		―
Investment securities available for sale		4,840,035		4,840,035		4,428		4,835,091		516
FHLB and Federal Reserve Bank stocks		181,129		181,129		―		181,129		―
Loans held for sale		102,052		104,060		―		104,060		―
Loans, net		15,314,130		15,515,381		―		―		15,515,381
Bank owned life insurance		565,623		565,623		―		565,623		―
Accrued interest receivable		67,647		67,647		67,647		―		―
Interest rate-related agreements		48,390		48,390		―		48,390		―
Foreign currency exchange forwards		1,012		1,012		―		1,012		―
Interest rate lock commitments to originate residential		3,560		3,560		―		―		3,560
mortgage loans held for sale
Purchased options (time deposit)		5,578		5,578		―		5,578		―
Financial liabilities:
Noninterest-bearing demand, savings, interest-bearing
demand, and money market deposits	$	16,584,417	$	16,584,417	$	―	$	―	$	16,584,417
Brokered CDs and other time deposits		1,753,491		1,757,843		―		1,757,843		―
Short-term funding		1,626,880		1,626,880		―		1,626,880		―
Long-term funding		614,568		631,958		―		631,958		―
Accrued interest payable		1,915		1,915		1,915		―		―
Interest rate-related agreements		51,551		51,551		―		51,551		―
Foreign currency exchange forwards		879		879		―		879		―
Standby letters of credit ⁽¹⁾		3,934		3,934		―		3,934		―
Forward commitments to sell residential mortgage loans		4,553		4,553		―		―		4,553
Written options (time deposit)		5,578		5,578		―		5,578		―

		December 31, 2012
		Carrying				Fair Value Measurements Using
		Amount		Fair Value		Level 1		Level 2		Level 3
		($ in Thousands)
Financial assets:
Cash and due from banks	$	563,304	$	563,304	$	563,304	$	―	$	―
Interest-bearing deposits in other financial institutions		147,434		147,434		147,434		―		―
Federal funds sold and securities purchased under
agreements to resell		27,135		27,135		27,135		―		―
Investment securities held to maturity		39,877		39,679		―		39,679		―
Investment securities available for sale		4,926,758		4,926,758		3,845		4,922,433		480
FHLB and Federal Reserve Bank stocks		166,774		166,774		―		166,774		―
Loans held for sale		261,410		265,914		―		265,914		―
Loans, net		15,113,613		14,873,851		―		―		14,873,851
Bank owned life insurance		556,556		556,556		―		556,556		―
Accrued interest receivable		68,386		68,386		68,386		―		―
Interest rate-related agreements		69,370		69,370		―		69,370		―
Foreign currency exchange forwards		1,341		1,341		―		1,341		―
Interest rate lock commitments to originate residential
mortgage loans held for sale		7,794		7,794		―		―		7,794
Purchased options (time deposit)		3,620		3,620		―		3,620		―
Financial liabilities:
Noninterest-bearing demand, savings, interest-bearing
demand, and money market deposits	$	14,941,971	$	14,941,971	$	―	$	―	$	14,941,971
Brokered CDs and other time deposits		1,997,894		1,997,894		―		1,997,894		―
Short-term funding		2,326,939		2,326,939		―		2,326,939		―
Long-term funding		1,015,346		1,041,550		―		1,041,550		―
Accrued interest payable		10,208		10,208		10,208		―		―
Interest rate-related agreements		75,131		75,131		―		75,131		―
Foreign currency exchange forwards		1,212		1,212		―		1,212		―
Standby letters of credit ⁽¹⁾		3,811		3,811		―		3,811		―
Forward commitments to sell residential mortgage loans		147		147		―		―		147
Written options (time deposit)		3,620		3,620		―		3,620		―

Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets and Liabilities Measured on Recurring Basis at Fair Value

Assets and Liabilities Measured at Fair Value on a Recurring Basis
					Fair Value Measurements Using
		September 30, 2013			Level 1		Level 2		Level 3
			($ in Thousands)
Assets:
Investment securities available for sale:
U.S. Treasury securities		$	1,003	$	1,003	$	―	$	―
Obligations of state and political subdivisions (municipal securities)			702,727		―		702,727		―
Residential mortgage-related securities:
	Government-sponsored enterprise (GSE)		3,617,080		―		3,617,080		―
	Private-label		3,159		―		3,159		―
GSE commercial mortgage-related securities			429,108		―		429,108		―
Asset-backed securities			24,924		―		24,924		―
Other securities (debt and equity)			62,034		3,425		58,093		516
	Total investment securities available for sale	$	4,840,035	$	4,428	$	4,835,091	$	516
Derivatives (trading and other assets)		$	58,540	$	―	$	54,980	$	3,560

Liabilities:
Derivatives (trading and other liabilities)		$	62,561	$	―	$	58,008	$	4,553

					Fair Value Measurements Using
		December 31, 2012			Level 1		Level 2		Level 3
			($ in Thousands)
Assets:
Investment securities available for sale:
U.S. Treasury securities		$	1,004	$	1,004	$	―	$	―
Obligations of state and political subdivisions (municipal securities)			801,188		―		801,188		―
Residential mortgage-related securities:
	GSE		3,798,155		―		3,798,155		―
	Private-label		6,149		―		6,149		―
GSE commercial mortgage-related securities			228,166		―		228,166		―
Other securities (debt and equity)			92,096		2,841		88,775		480
	Total investment securities available for sale	$	4,926,758	$	3,845	$	4,922,433	$	480
Derivatives (trading and other assets)		$	82,125	$	―	$	74,331	$	7,794

Liabilities:
Derivatives (trading and other liabilities)		$	80,110	$	―	$	79,963	$	147

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details