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

9 Months Ended

Sep. 30, 2017

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)	Level 1		Level 2		Level 3		Balance as of September 30, 2017
Assets:
AFS securities:
Federal agency	$	-	$	139,418	$	-	$	139,418
State & municipal		-		42,919		-		42,919
Mortgage-backed		-		584,226		-		584,226
Collateralized mortgage obligations		-		571,312		-		571,312
Other securities		11,438		8,301		-		19,739
Total AFS securities	$	11,438	$	1,346,176	$	-	$	1,357,614
Trading securities		10,883		-		-		10,883
Derivatives		-		6,653		-		6,653
Total	$	22,321	$	1,352,829	$	-	$	1,375,150
Liabilities:
Derivatives	$	-	$	4,128	$	-	$	4,128
Total	$	-	$	4,128	$	-	$	4,128

(In thousands)	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Assets:
AFS securities:
Federal agency	$	-	$	174,408	$	-	$	174,408
State & municipal		-		46,726		-		46,726
Mortgage-backed		-		529,844		-		529,844
Collateralized mortgage obligations		-		566,573		-		566,573
Other securities		11,493		9,246		-		20,739
Total AFS securities	$	11,493	$	1,326,797	$	-	$	1,338,290
Trading securities		9,259		-		-		9,259
Derivatives		-		3,210		-		3,210
Total	$	20,752	$	1,330,007	$	-	$	1,350,759
Liabilities:
Derivatives	$	-	$	506	$	-	$	506
Total	$	-	$	506	$	-	$	506

Fair Value of Financial Instruments by Balance Sheet Grouping

The following table sets forth information with regard to estimated fair values of financial instruments. 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 AFS, trading securities, accrued interest receivable, non-maturity deposits, short-term borrowings, accrued interest payable and interest rate swaps.

			September 30, 2017				December 31, 2016
(In thousands)	Fair Value Hierarchy		Carrying amount		Estimated fair value		Carrying amount		Estimated fair value
Financial assets
HTM securities		2	$	494,309	$	495,411	$	527,948	$	525,050
Net loans		3		6,398,584		6,557,674		6,132,857		6,273,233
Financial liabilities
Time deposits		2	$	776,756	$	773,160	$	872,411	$	868,153
Long-term debt		2		88,914		88,948		104,087		104,113
Junior subordinated debt		2		101,196		104,584		101,196		102,262