XML 63 R53.htm IDEA: XBRL DOCUMENT v2.4.0.8
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

$
—