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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

$