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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2015
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, 2015
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
$
769,455

$
$
769,455

$
U.S. agencies mortgage-backed securities & collateralized mortgage obligations
1,007,300

 
1,007,300

 
Private mortgage-backed securities
302

 
302

 
 
 
Fair Value Measurements at Reporting Date Using
As of December 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
$
720,933

$
$
720,933

$
U.S. agencies mortgage-backed securities & collateralized mortgage obligations
990,666

 
990,666

 
Private mortgage-backed securities
325

 
325

 
    
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, 2015
Balance
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Impaired loans
$
35,098

$
$
$
35,098

Other real estate owned
6,499

 
 
6,499

Long-lived assets to be disposed of by sale
1,083

 
 
1,083

 
 
 
 
 
 
 
 
 
 
Fair Value Measurements at Reporting Date Using
As of December 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
$
30,494

$
$
$
30,494

Other real estate owned
4,554

 
 
4,554

Long-lived assets to be disposed of by sale
1,083

 
 
1,083

Fair Value Inputs, Assets, Quantitative Information
As of March 31, 2015
Fair
Value
Valuation
Technique
Unobservable
Inputs
Range
(Weighted Average)
Impaired loans
$
35,098

Appraisal
Appraisal adjustment
0%
-
51%
(19%)
Other real estate owned
6,499

Appraisal
Appraisal adjustment
0%
-
50%
(15%)
Long-lived assets to be disposed of by sale
1,083

Appraisal
Appraisal adjustment
0%
-
9%
(5%)
 
 
 
 
 
 
 
 
As of December 31, 2014
Fair
Value
Valuation
Technique
Unobservable
Inputs
Range
(Weighted Average)
Impaired loans
$
30,494

Appraisal
Appraisal adjustment
0%
-
51%
(19%)
Other real estate owned
4,554

Appraisal
Appraisal adjustment
0%
-
50%
(15%)
Long-lived assets to be disposed of by sale
1,083

Appraisal
Appraisal adjustment
0%
-
9%
(5%)
 
 
 
 
 
 
 
 
Fair Value, by Balance Sheet Grouping
 
 
 
Fair Value Measurements at Reporting Date Using
As of March 31, 2015
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
$
637,803

$
637,803

$
637,803

$

$

Investment securities available-for-sale
1,777,057

1,777,057


1,777,057


Investment securities held-to-maturity
563,847

576,930


576,930


Accrued interest receivable
27,242

27,242


27,242


Mortgage servicing rights, net
14,093

26,639


26,639


Net loans
4,851,970

4,821,593


4,786,495

35,098

Total financial assets
$
7,872,012

$
7,867,264

$
637,803

$
7,194,363

$
35,098

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
5,763,553

$
5,763,553

$

$
5,763,553

$

Time deposits
1,205,025

1,211,057


1,211,057


Securities sold under repurchase agreements
462,073

462,073


462,073


Other borrowed funds
4

4


4


Accrued interest payable
5,113

5,113


5,113


Long-term debt
43,048

38,047


38,047


Subordinated debentures held by subsidiary
   trusts
82,477

75,679


75,679


Total financial liabilities
$
7,561,293

$
7,555,526

$

$
7,555,526

$

 
 
 
Fair Value Measurements at Reporting Date Using
As of December 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
$
798,670

$
798,670

$
798,670

$

$

Investment securities available-for-sale
1,711,924

1,711,924


1,711,924


Investment securities held-to-maturity
575,186

584,533


584,533


Accrued interest receivable
27,063

27,063


27,063


Mortgage servicing rights, net
14,038

21,434


21,434


Net loans
4,823,243

4,800,725


4,770,231

30,494

Total financial assets
$
7,950,124

$
7,944,349

$
798,670

$
7,115,185

$
30,494

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
5,767,992

$
5,767,992

$
5,767,992

$

$

Time deposits
1,238,220

1,244,324


1,244,324


Securities sold under repurchase agreements
502,250

502,250


502,250


Other borrowed funds
9

9


9


Accrued interest payable
5,833

5,833


5,833


Long-term debt
38,067

37,781


37,781


Subordinated debentures held by subsidiary
   trusts
82,477

75,734


75,734


Total financial liabilities
$
7,634,848

$
7,633,923

$
5,767,992

$
1,865,931

$