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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2014
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 March 31, 2014
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
$
706,592

$
—

$
706,592

$
—

U.S. agencies mortgage-backed securities & collateralized mortgage obligations
1,186,671

—

1,186,671

—

Private mortgage-backed securities
389

—

389

—

Mortgage servicing rights
26,215

—

26,215

—

 
 
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. agencies 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

—

    
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 March 31, 2014
Balance
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Impaired loans
$
48,347

$
—

$
—

$
48,347

Other real estate owned
7,748

—

—

7,748

Long-lived assets to be disposed of by sale
1,186

—

—

1,186

 
 
 
 
 
 
 
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)
Impaired loans
$
57,302

$
—

$
—

$
57,302

Other real estate owned
8,502

—

—

8,502

Long-lived assets to be disposed of by sale
1,186

—

—

1,186

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 March 31, 2014
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
$
610,531

$
610,531

$
—

$
610,531

$
—

Investment securities available-for-sale
1,893,652

1,893,652

—

1,893,652

—

Investment securities held-to-maturity
201,436

205,443

—

205,443

—

Accrued interest receivable
27,135

27,135

—

27,135

—

Mortgage servicing rights, net
13,474

26,215

—

26,215

—

Net loans
4,283,467

4,272,639

—

4,224,292

48,347

Total financial assets
$
7,029,695

$
7,035,615

$
—

$
6,987,268

$
48,347

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
4,975,781

$
4,975,781

$
—

$
4,975,781

$
—

Time deposits
1,159,356

1,166,103

—

1,166,103

—

Securities sold under repurchase agreements
488,898

488,898

—

488,898

—

Other borrowed funds
9

9

—

9

—

Accrued interest payable
4,953

4,953

—

4,953

—

Long-term debt
36,905

35,200

—

35,200

—

Subordinated debentures held by subsidiary
   trusts
82,477

73,607

—

73,607

—

Total financial liabilities
$
6,748,379

$
6,744,551

$
—

$
6,744,551

$
—

 
 
 
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

$
—