XML 47 R35.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 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 September 30, 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
$
728,497

$
$
728,497

$
U.S. agencies mortgage-backed securities & collateralized mortgage obligations
857,662

 
857,662

 
Private mortgage-backed securities
344

 
344

 
Mortgage servicing rights
27,292

 
27,292

 
 
 
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 September 30, 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
$
41,996

$
$
$
41,996

Other real estate owned
6,499

 
 
6,499

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 September 30, 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
$
819,963

$
819,963

$

$
819,963

$

Investment securities available-for-sale
1,586,503

1,586,503


1,586,503


Investment securities held-to-maturity
583,271

588,032


588,032


Accrued interest receivable
30,282

30,282


30,282


Mortgage servicing rights, net
13,894

27,292


27,292


Net loans
4,780,151

4,784,957


4,742,961

41,996

Total financial assets
$
7,814,064

$
7,837,029

$

$
7,795,033

$
41,996

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
5,705,490

$
5,705,490

$

$
5,705,490

$

Time deposits
1,254,009

1,259,444


1,259,444


Securities sold under repurchase agreements
432,478

432,478


432,478


Other borrowed funds
1,934

1,934


1,934


Accrued interest payable
5,569

5,569


5,569


Long-term debt
36,882

36,524


36,524


Subordinated debentures held by subsidiary
   trusts
102,916

98,177


98,177


Total financial liabilities
$
7,539,278

$
7,539,616

$

$
7,539,616

$

 
 
 
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

$