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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 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 December 31, 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
$
763,238

$

$
763,238

$

U.S. agency mortgage-backed securities & collateralized mortgage obligations
1,184,053


1,184,053


Private mortgage-backed securities
415


415


Mortgage servicing rights
25,698


25,698


 
 
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. agency 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 December 31, 2013
Total
Quoted Prices
in Active
Markets for
Identical Assets (Level 1)
Significant
Other
Observable
Inputs
 (Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Gains (Losses)
Impaired loans
$
57,302

$

$

$
57,302

$
(23,224
)
Other real estate owned
8,502



8,502

(14,441
)
Long-lived assets to be disposed of by sale
1,186



1,186

(599
)

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

$

$

$
74,623

$
(32,624
)
Other real estate owned
15,745



15,745

(20,797
)
Long-lived assets to be disposed of by sale
496



496

(70
)
Schedule of Estimated Fair Values of Financial Instruments by Level of Valuation Inputs
A summary of the estimated fair values of financial instruments follows:
 
`
 
Fair Value Measurements at Reporting Date Using
As of December 31, 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
$
534,827

$
534,827

$

$
534,827

$

Investment securities available-for-sale
1,947,706

1,947,706


1,947,706


Investment securities held-to-maturity
203,837

205,926


205,926


Accrued interest receivable
26,450

26,450


26,450


Mortgage servicing rights, net
13,546

25,698


25,698


Net loans
4,259,514

4,246,539


4,189,237

57,302

Total financial assets
$
6,985,880

$
6,987,146

$

$
6,929,844

$
57,302

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
4,943,033

$
4,943,033

$

$
4,943,033

$

Time deposits
1,190,717

1,196,250


1,196,250


Securities sold under repurchase agreements
457,437

457,437


457,437


Other borrowed funds
3

3


3


Accrued interest payable
4,963

4,963


4,963


Long-term debt
36,917

34,508


34,508


Subordinated debentures held by subsidiary trusts
82,477

72,045


72,045


Total financial liabilities
$
6,715,547

$
6,708,239

$

$
6,708,239

$



 
 
 
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

$