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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2012
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis
Financial assets and financial liabilities measured at fair value on a recurring basis are as follows:
 
 
Fair Value Measurements at Reporting Date Using
 
Balance
as of
September 30, 2012
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Investment securities available-for-sale:
 
 
 
 
Obligations of U.S. government agencies
$
919,285

$

$
919,285

$

U.S. agencies mortgage-backed securities & collateralized mortgage obligations
1,059,261


1,059,261


Private mortgage-backed securities
608


608


Mortgage servicing rights
14,082


14,082


    
 
 
Fair Value Measurements at Reporting Date Using
 
Balance
as of
December 31, 2011
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Investment securities available-for-sale:
 
 
 
 
Obligations of U.S. government agencies
$
1,138,118

$

$
1,138,118

$

U.S. agencies mortgage-backed securities & collateralized mortgage obligations
877,997


877,997


Private mortgage-backed securities
749


749


Mortgage servicing rights
11,910


11,910


Derivative liability contract
383



383

    
Schedule of Derivative Liability Contract Measured at Fair Value on a Recurring Basis Unobservable Input Reconciliation
The following table reconciles the beginning and ending balances of the derivative liability contract measured at fair value on a recurring basis using significant unobservable (Level 3) inputs during the nine months ended September 30, 2012 and 2011:
Nine Months Ended September 30,
2012
2011
Balance, beginning of period
$
383

$
86

Accruals during the period

164

Cash payments during the period
(383
)
(128
)
Balance, end of period
$

$
122

Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Non-Recurring Basis
The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis.
 
 
Fair Value Measurements at Reporting Date Using
 
Balance
as of
September 30, 2012
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Impaired loans
$
66,555

$

$

$
66,555

Other real estate owned
17,089



17,089

Long-lived assets to be disposed of by sale
496


496


 
 
 
 
 
 
 
Fair Value Measurements at Reporting Date Using
 
Balance
as of
December 31, 2011
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Impaired loans
$
100,035

$

$

$
100,035

Other real estate owned
17,000



17,000

Schedule of Estimated Fair Values of Financial Instruments by Level of Valuation Inputs
The estimated fair values of financial instruments that are reported at amortized cost in the Company's consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows:
 
 
 
Fair Value Measurements at Reporting Date Using
As of September 30, 2012
Carrying Amount
Estimated
Fair Value
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Financial assets:
 
 
 
 
 
Cash and cash equivalents
$
611,335

$
611,335

$

$
611,335

$

Investment securities available-for-sale
1,979,154

1,979,154


1,979,154


Investment securities held-to-maturity
187,573

199,078


199,078


Accrued interest receivable
33,416

33,416


33,416


Mortgage servicing rights, net
12,334

14,082


14,082


Net loans
4,081,045

4,067,457


4,000,902

66,555

Total financial assets
$
6,904,857

$
6,904,522

$

$
6,837,967

$
66,555

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
4,612,346

4,612,346


4,612,346


Time deposits
1,423,386

1,431,066


1,431,066


Securities sold under repurchase agreements
460,805

460,805


460,805


Other borrowed funds
6

6


6


Accrued interest payable
6,706

6,706


6,706


Long-term debt
37,170

34,003


34,003


Subordinated debentures held by subsidiary
   trusts
82,477

57,656


57,656


Total financial liabilities
$
6,622,896

$
6,602,588

$

$
6,602,588

$

 
 
 
Fair Value Measurements at Reporting Date Using
As of December 31, 2011
Carrying Amount
Estimated
Fair Value
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Financial assets:
 
 
 
 
 
Cash and cash equivalents
$
472,447

$
472,447

$

$
472,447

$

Investment securities available-for-sale
2,016,864

2,016,864


2,016,864


Investment securities held-to-maturity
152,781

161,877


161,877


Accrued interest receivable
31,974

31,974


31,974


Mortgage servicing rights, net
11,555

11,910


11,910


Net loans
4,073,968

4,064,718


3,964,683

100,035

Total financial assets
$
6,759,589

$
6,759,790

$

$
6,659,755

$
100,035

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
4,269,631

$
4,269,631

$

$
4,269,631

$

Time deposits
1,557,340

1,565,558


1,565,558


Securities sold under repurchase agreements
516,243

516,243


516,243


Other borrowed funds
7

7


7


Accrued interest payable
8,123

8,123


8,123


Long-term debt
37,200

34,341


34,341


Subordinated debentures held by subsidiary
   trusts
123,715

102,525


102,525


Derivative contract liability
383

383



383

Total financial liabilities
$
6,512,642

$
6,496,811

$

$
6,496,428

$
383