XML 28 R31.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2013
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
As of September 30, 2013
Balance
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
$
784,475

$
—

$
784,475

$
—

U.S. agencies mortgage-backed securities & collateralized mortgage obligations
1,154,894

—

1,154,894

—

Private mortgage-backed securities
437

—

437

—

Mortgage servicing rights
24,944

—

24,944

—

 
 
Fair Value Measurements at Reporting Date Using
As of December 31, 2012
Balance
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
$
754,856

$
—

$
754,856

$
—

U.S. agencies mortgage-backed securities & collateralized mortgage obligations
1,239,851

—

1,239,851

—

Private mortgage-backed securities
551

—

551

—

Mortgage servicing rights
16,373

—

16,373

—

    
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
As of September 30, 2013
Balance
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Impaired loans
$
53,327

$
—

$
—

$
53,327

Other real estate owned
5,344

—

—

5,344

Long-lived assets to be disposed of by sale
1,327

—

—

1,327

 
 
 
 
 
 
 
Fair Value Measurements at Reporting Date Using
As of December 31, 2012
Balance
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Impaired loans
$
74,623

$
—

$
—

$
74,623

Other real estate owned
15,745

—

—

15,745

Long-lived assets to be disposed of by sale
496

—

—

496

Schedule of Estimated Fair Values of Financial Instruments by Level of Valuation Inputs
The estimated fair values of financial instruments that are reported 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, 2013
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
$
542,343

$
542,343

$
—

$
542,343

$
—

Investment securities available-for-sale
1,939,806

1,939,806

—

1,939,806

—

Investment securities held-to-maturity
205,277

208,482

—

208,482

—

Accrued interest receivable
30,384

30,384

—

30,384

—

Mortgage servicing rights, net
13,518

24,944

—

24,944

—

Net loans
4,239,102

4,192,135

—

4,138,808

53,327

Total financial assets
$
6,970,430

$
6,938,094

$
—

$
6,884,767

$
53,327

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
4,870,793

$
4,870,793

$
—

$
4,870,793

$
—

Time deposits
1,237,832

1,244,919

—

1,244,919

—

Securities sold under repurchase agreements
428,110

428,110

—

428,110

—

Other borrowed funds
10

10

—

10

—

Accrued interest payable
5,367

5,367

—

5,367

—

Long-term debt
37,128

34,712

—

34,712

—

Subordinated debentures held by subsidiary
   trusts
82,477

70,727

—

70,727

—

Total financial liabilities
$
6,661,717

$
6,654,638

$
—

$
6,654,638

$
—

 
 
 
Fair Value Measurements at Reporting Date Using
As of December 31, 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
$
801,332

$
801,332

$
—

$
801,332

$
—

Investment securities available-for-sale
1,995,258

1,995,258

—

1,995,258

—

Investment securities held-to-maturity
208,223

218,933

—

218,933

—

Accrued interest receivable
28,869

28,869

—

28,869

—

Mortgage servicing rights, net
12,653

16,373

—

16,373

—

Net loans
4,123,401

4,142,426

—

4,067,803

74,623

Total financial assets
$
7,169,736

$
7,203,191

$
—

$
7,128,568

$
74,623

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
4,854,927

$
4,854,927

$
—

$
4,854,927

$
—

Time deposits
1,385,484

1,394,403

—

1,394,403

—

Securities sold under repurchase agreements
505,785

505,785

—

505,785

—

Other borrowed funds
32

32

—

32

—

Accrued interest payable
6,502

6,502

—

6,502

—

Long-term debt
37,160

35,104

—

35,104

—

Preferred stock pending redemption
50,000

50,000

—

50,000

—

Subordinated debentures held by subsidiary
   trusts
82,477

62,409

—

62,409

—

Total financial liabilities
$
6,922,367

$
6,909,162

$
—

$
6,909,162

$
—