Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017	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:
U.S. Treasury Notes	$	3.2	$	—	$	3.2	$	—
Obligations of U.S. government agencies	561.5		—		561.5		—
U.S. agency mortgage-backed securities & collateralized mortgage obligations	1,462.5		—		1,462.5		—
Private mortgage-backed securities	90.7		—		90.7		—
Corporate securities	87.9		—		87.9		—
Other investments	3.0		—		3.0		—
Loans held for sale	46.6		—		46.6		—
Derivative assets:
Interest rate swap contracts	7.5		—		7.5		—
Interest rate lock commitments	1.3		—		1.3		—
Derivative liabilities:
Interest rate swap contracts	7.8		—		7.8		—
Forward loan sales contracts	0.1		—		0.1		—
Deferred compensation plan assets	12.2		—		12.2		—
Deferred compensation plan liabilities	12.2		—		12.2		—



			Fair Value Measurements at Reporting Date Using
As of December 31, 2016	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:
U.S. Treasury Notes	$	3.6	$	—	$	3.6	$	—
Obligations of U.S. government agencies	391.3		—		391.3		—
U.S. agency mortgage-backed securities & collateralized mortgage obligations	1,213.7		—		1,213.7		—
Private mortgage-backed securities	0.1		—		0.1		—
Other investments	3.0		—		3.0		—
Loans held for sale	61.8		—		61.8		—
Derivative assets:
Interest rate swap contracts	1.3		—		1.3		—
Interest rate lock commitments	1.1		—		1.1		—
Forward loan sales contracts	0.3		—		0.3		—
Derivative liabilities:
Interest rate swap contracts	1.3		—		1.3		—
Deferred compensation plan assets	10.6		—		10.6		—
Deferred compensation plan liabilities	10.6		—		10.6		—

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, 2017	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	$	32.6	$	—	$	—	$	32.6	$	22.2
Other real estate owned	1.3		—		—		1.3		(1.6		)
Long-lived assets to be disposed of by sale	0.8		—		—		0.8		—



			Fair Value Measurements at Reporting Date Using
As of December 31, 2016	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	$	39.3	$	—	$	—	$	39.3	$	(25.8	)
Other real estate owned	2.1		—		—		2.1		(1.7		)
Long-lived assets to be disposed of by sale	1.3		—		—		1.3		(1.0		)

Fair Value Inputs, Assets, Quantitative Information

The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair values:



As of December 31, 2017	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Impaired loans	$	32.6	Appraisal	Appraisal adjustment	0%	-	78.11%	(26.1%)
Other real estate owned	1.3		Appraisal	Appraisal adjustment	8%	-	96%	(11.55%)
Long-lived assets to be disposed of by sale	0.8		Appraisal	Appraisal adjustment	0%	-	0%	0%

As of December 31, 2016	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Impaired loans	$	39.3	Appraisal	Appraisal adjustment	0%	-	66%	(31%)
Other real estate owned	2.1		Appraisal	Appraisal adjustment	8%	-	96%	(18%)
Long-lived assets to be disposed of by sale	1.3		Appraisal	Appraisal adjustment	0%	-	9%	(6%)

Fair Value, by Balance Sheet Grouping

A summary of the estimated fair values of financial instruments follows:



	`				Fair Value Measurements at Reporting Date Using
As of December 31, 2017	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	$	759.0	$	759.0	$	759.0	$	—	$	—
Investment securities available-for-sale	2,208.7		2,208.7		—		2,208.7		—
Investment securities held-to-maturity	484.5		483.3		—		483.3		—
Accrued interest receivable	38.0		38.0		—		38.0		—
Mortgage servicing rights, net	24.8		40.1		—		40.1		—
Net loans	7,542.2		7,298.8		—		7,266.2		32.6
Derivative assets	8.8		8.8		—		8.8		—
Deferred compensation plan assets	12.2		12.2		—		12.2		—
Total financial assets	$	11,078.2	$	10,848.9	$	759.0	$	10,057.3	$	32.6

Financial liabilities:
Total deposits, excluding time deposits	$	8,783.0	$	8,783.0	$	8,783.0	$	—	$	—
Time deposits	1,151.9		1,137.9		—		1,137.9		—
Securities sold under repurchase agreements	643.0		643.0		—		643.0		—
Other borrowed funds	20.0		20.0		—		20.0		—
Accrued interest payable	5.6		5.6		—		5.6		—
Long-term debt	13.1		11.3		—		11.3		—
Subordinated debentures held by subsidiary trusts	82.5		76.7		—		76.7		—
Derivative liabilities	7.9		7.9		—		7.9		—
Deferred compensation plan liabilities	12.2		12.2		—		12.2		—
Total financial liabilities	$	10,719.2	$	10,697.6	$	8,783.0	$	1,914.6	$	—



					Fair Value Measurements at Reporting Date Using
As of December 31, 2016	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	$	782.0	$	782.0	$	782.0	$	—	$	—
Investment securities available-for-sale	1,611.7		1,611.7		—		1,611.7		—
Investment securities held-to-maturity	512.8		513.3		—		513.3		—
Accrued interest receivable	29.9		29.9		—		29.9		—
Mortgage servicing rights, net	18.5		35.7		—		35.7		—
Net loans	5,402.3		5,309.9		—		5,270.6		39.3
Derivative assets	2.7		2.7		—		2.7		—
Deferred compensation plan assets	10.6		10.6		—		10.6		—
Total financial assets	$	8,370.5	$	8,295.8	$	782.0	$	7,474.5	$	39.3

Financial liabilities:
Total deposits, excluding time deposits	$	6,324.5	$	6,324.5	$	6,324.5	$	—	$	—
Time deposits	1,051.6		1,044.7		—		1,044.7		—
Securities sold under repurchase agreements	537.6		537.6		—		537.6		—
Other borrowed funds	—		—		—		—		—
Accrued interest payable	5.4		5.4		—		5.4		—
Long-term debt	28.0		27.5		—		27.5		—
Subordinated debentures held by subsidiary trusts	82.5		73.6		—		73.6		—
Derivative liabilities	1.3		1.3		—		1.3		—
Deferred compensation plan liabilities	10.6		10.6		—		10.6		—
Total financial liabilities	$	8,041.5	$	8,025.2	$	6,324.5	$	1,700.7	$	—