Fair Values Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Measurements and Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis

The following tables set forth the Company’s financial assets and liabilities measured on a recurring basis that were accounted for at fair value.  Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

March 31, 2014:
	Quoted Prices in		Significant		Significant
	Active Markets for		Other		Unobservable		Balance
	Identical Assets		Observable Inputs		Inputs		as of
	(Level 1)		(Level 2)		(Level 3)		March 31, 2014
Assets:
Securities Available for Sale:
U.S. Treasury	$	33,473	$	-	$	-	$	33,473
Federal Agency		-		300,158		-		300,158
State & municipal		-		112,695		-		112,695
Mortgage-backed		-		378,158		-		378,158
Collateralized mortgage obligations		-		537,647		-		537,647
Other securities		7,238		8,216		-		15,454
Total Securities Available for Sale	$	40,711	$	1,336,874	$	-	$	1,377,585
Trading Securities		6,954		-		-		6,954
Interest Rate Swaps		-		1,283		-		1,283
Total	$	47,665	$	1,338,157	$	-	$	1,385,822
Liabilities:
Interest Rate Swaps	$	-	$	1,283	$	-	$	1,283
Total	$	-	$	1,283	$	-	$	1,283

December 31, 2013:

	Quoted Prices in		Significant		Significant
	Active Markets for		Other		Unobservable		Balance
	Identical Assets		Observable Inputs		Inputs		as of
	(Level 1)		(Level 2)		(Level 3)		December 31, 2013
Assets:
Securities Available for Sale:
U.S. Treasury	$	43,616	$	-	$	-	$	43,616
Federal Agency		-		278,915		-		278,915
State & municipal		-		113,665		-		113,665
Mortgage-backed		-		364,164		-		364,164
Collateralized mortgage obligations		-		549,528		-		549,528
Other securities		6,796		8,197		-		14,993
Total Securities Available for Sale	$	50,412	$	1,314,469	$	-	$	1,364,881
Trading Securities		5,779		-		-		5,779
Interest Rate Swaps		-		281		-		281
Total	$	56,191	$	1,314,750	$	-	$	1,370,941
Liabilities:
Interest Rate Swaps	$	-	$	281	$	-	$	281
Total	$	-	$	281	$	-	$	281

Fair Value of Financial Instruments By Balance Sheet Grouping

The following table sets forth information with regard to estimated fair values of financial instruments at March 31, 2014 and December 31, 2013.  This table excludes financial instruments for which the carrying amount approximates fair value.  Financial instruments for which the fair value approximates carrying value include cash and cash equivalents, securities available for sale, trading securities, accrued interest receivable, non-maturity deposits, short-term borrowings, accrued interest payable, and interest rate swaps.

			March 31, 2014				December 31, 2013
(In thousands)	Fair Value Hierarchy		Carrying amount		Estimated fair value		Carrying amount		Estimated fair value
Financial assets
Securities held to maturity		2	$	117,896	$	114,920	$	117,283	$	113,276
Net loans		3		5,412,591		5,460,326		5,337,361		5,386,520
Financial liabilities
Time deposits		2	$	969,361	$	969,980	$	1,021,142	$	1,023,982
Long-term debt		2		308,679		323,712		308,823		325,195
Junior subordinated debt		2		101,196		105,864		101,196		105,121