Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Assets And Liabilities Measured On A Recurring Basis [Table Text Block]

The fair value of financial assets and liabilities that are measured on a recurring basis is as follows as of June 30, 2014 (in thousands):



	Total		Quoted Prices in Active Markets for Identical Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:
Trading securities:
U.S. Government agency debentures	$	19,027	$	—	$	19,027	$	—
U.S. agency residential mortgage-backed securities	13,540		—		13,540		—
Municipal and other tax-exempt securities	32,950		—		32,950		—
Other trading securities	35,580		—		35,580		—
Total trading securities	101,097		—		101,097		—
Available for sale securities:
U.S. Treasury	1,024		1,024		—		—
Municipal and other tax-exempt	64,970		—		54,525		10,445
U.S. agency residential mortgage-backed securities	7,259,504		—		7,259,504		—
Privately issued residential mortgage-backed securities	179,042		—		179,042		—
Commercial mortgage-backed securities guaranteed by U.S. government agencies	2,115,295		—		2,115,295		—
Other debt securities	34,528		—		30,297		4,231
Perpetual preferred stock	24,730		—		24,730		—
Equity securities and mutual funds	20,053		5,106		14,947		—
Total available for sale securities	9,699,146		6,130		9,678,340		14,676
Fair value option securities:
U.S. agency residential mortgage-backed securities	181,205		—		181,205		—
Other securities	4,469		—		4,469		—
Total fair value option securities	185,674		—		185,674		—
Residential mortgage loans held for sale	325,875		—		325,875		—
Mortgage servicing rights¹	155,740		—		—		155,740
Derivative contracts, net of cash collateral²	357,680		800		356,880		—
Other assets – private equity funds	27,834		—		—		27,834
Liabilities:
Derivative contracts, net of cash collateral²	297,851		—		297,851		—


¹	A reconciliation of the beginning and ending fair value of mortgage servicing rights and disclosures of significant assumptions used to determine fair value are presented in Note 6, Mortgage Banking Activities.

See Note 3 for detail of fair value of derivative contracts by contract type. Derivative contracts in asset positions that were valued based on quoted prices in active markets for identical instruments (Level 1) are exchange-traded energy derivative contacts, net of cash margin. Derivative contacts in liability positions that were valued using quoted prices in active market for identical instruments are exchange-traded energy, agricultural and interest rate derivative contracts that were fully offset by cash margin.

The fair value of financial assets and liabilities that are measured on a recurring basis is as follows as of December 31, 2013 (in thousands):



	Total		Quoted Prices in Active Markets for Identical Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:
Trading securities:
U.S. Government agency debentures	$	34,120	$	—	$	34,120	$	—
U.S. agency residential mortgage-backed securities	21,011		—		21,011		—
Municipal and other tax-exempt securities	27,350		—		27,350		—
Other trading securities	9,135		—		9,135		—
Total trading securities	91,616		—		91,616		—
Available for sale securities:
U.S. Treasury	1,042		1,042		—		—
Municipal and other tax-exempt	73,775		—		55,970		17,805
U.S. agency residential mortgage-backed securities	7,716,010		—		7,716,010		—
Privately issued residential mortgage-backed securities	221,099		—		221,099		—
Commercial mortgage-backed securities guaranteed by U.S. government agencies	2,055,804		—		2,055,804		—
Other debt securities	35,241		—		30,529		4,712
Perpetual preferred stock	22,863		—		22,863		—
Equity securities and mutual funds	21,328		—		17,121		4,207
Total available for sale securities	10,147,162		1,042		10,119,396		26,724
Fair value option securities:
U.S. agency residential mortgage-backed securities	157,431		—		157,431		—
Other securities	9,694		—		9,694		—
Total fair value option securities	167,125		—		167,125		—
Residential mortgage loans held for sale	200,546		—		200,546		—
Mortgage servicing rights¹	153,333		—		—		153,333
Derivative contracts, net of cash collateral²	265,012		2,712		262,300		—
Other assets – private equity funds	27,341		—		—		27,341
Liabilities:
Derivative contracts, net of cash collateral²	247,185		—		247,185		—


¹	A reconciliation of the beginning and ending fair value of mortgage servicing rights and disclosures of significant assumptions used to determine fair value are presented in Note 6, Mortgage Banking Activities.


²	See Note 3 for detail of fair value of derivative contracts by contract type. Derivative contracts based on quoted prices in active markets for identical instruments (Level 1) are exchange-traded energy derivative contacts, net of cash margin.

The fair value of financial assets and liabilities that are measured on a recurring basis is as follows as of June 30, 2013 (in thousands):



	Total		Quoted Prices in Active Markets for Identical Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:
Trading securities:
U.S. Government agency debentures	$	60,713	$	—	$	60,713	$	—
U.S. agency residential mortgage-backed securities	43,858		—		43,858		—
Municipal and other tax-exempt securities	53,819		—		53,819		—
Other trading securities	32,201		—		32,201		—
Total trading securities	190,591		—		190,591		—
Available for sale securities:
U.S. Treasury	1,060		1,060		—		—
Municipal and other tax-exempt	95,103		—		56,256		38,847
U.S. agency residential mortgage-backed securities	8,372,795		—		8,372,795		—
Privately issued residential mortgage-backed securities	297,175		—		297,175		—
Commercial mortgage-backed securities guaranteed by U.S. government agencies	1,846,943		—		1,846,943		—
Other debt securities	35,894		—		30,701		5,193
Perpetual preferred stock	25,583		—		25,583		—
Equity securities and mutual funds	23,521		5,119		16,155		2,247
Total available for sale securities	10,698,074		6,179		10,645,608		46,287
Fair value option securities:
U.S. agency residential mortgage-backed securities	203,816		—		203,816		—
Other securities	1,940		—		1,940		—
Total fair value option securities	205,756		—		205,756		—
Residential mortgage loans held for sale	301,057		—		301,057		—
Mortgage servicing rights¹	132,889		—		—		132,889
Derivative contracts, net of cash collateral²	546,206		17,588		528,618		—
Other assets – private equity funds	28,379		—		—		28,379
Liabilities:
Derivative contracts, net of cash collateral²	521,991		—		521,991		—


¹	A reconciliation of the beginning and ending fair value of mortgage servicing rights and disclosures of significant assumptions used to determine fair value are presented in Note 6, Mortgage Banking Activities.


²	See Note 3 for detail of fair value of derivative contracts by contract type. Derivative contracts based on quoted prices in active markets for identical instruments (Level 1) are exchange-traded energy and agricultural derivative contacts, net of cash margin.

Fair Value Assets Measured On Recurring Basis, Significant Unobservable Inputs [Table Text Block]

The following represents the changes for the three months ended June 30, 2014 related to assets measured at fair value on a recurring basis using significant unobservable inputs (in thousands):



	Available for Sale Securities
	Municipal and other tax-exempt			Other debt securities			Equity securities and mutual funds		Other assets – private equity funds
Balance, March 31, 2014	$	15,523		$	4,712		$	—	$	27,466
Transfer to Level 3 from Level 2	—			—			—		—
Purchases and capital calls	—			—			—		220
Redemptions and distributions	(5,165		)	(500		)	—		(2,076		)
Gain (loss) recognized in earnings:
Gain on other assets, net	—			—			—		2,223
Loss on available for sale securities, net	(157		)	—			—		—
Charitable contributions to BOKF Foundation	—			—			—		—
Other comprehensive gain (loss):
Net change in unrealized gain (loss)	244			19			—		—
Balance, June 30, 2014	$	10,445		$	4,231		$	—	$	27,833

The following represents the changes for the six months ended June 30, 2014 related to assets measured at fair value on a recurring basis using significant unobservable inputs (in thousands):



	Available for Sale Securities
	Municipal and other tax-exempt			Other debt securities			Equity securities and mutual funds			Other assets – private equity funds
Balance, December 31, 2013	$	17,805		$	4,712		$	4,207		$	27,341
Transfer to Level 3 from Level 2	—			—			—			—
Purchases and capital calls	—			—			—			425
Redemptions and distributions	(7,487		)	(500		)	—			(3,181		)
Gain (loss) recognized in earnings:
Gain on other assets, net	—			—			—			3,248
Loss on available for sale securities, net	(235		)	—			—			—
Charitable contributions to BOKF Foundation	—			—			(2,420		)	—
Other comprehensive gain (loss):
Net change in unrealized gain (loss)	362			19			(1,787		)	—
Balance, June 30, 2014	$	10,445		$	4,231		$	—		$	27,833

The following represents the changes for the six months ended June 30, 2013 related to assets measured at fair value on a recurring basis using significant unobservable inputs (in thousands):



	Available for Sale Securities
	Municipal and other tax-exempt			Other debt securities		Equity securities and mutual funds			Other assets – private equity funds
Balance, March 31, 2013	$	39,007		$	5,193	$	2,472		$	29,216
Transfer to Level 3 from Level 2	—			—		—			—
Purchases, and capital calls	—			—		—			148
Redemptions and distributions	—			—		—			(1,005		)
Gain (loss) recognized in earnings
Gain on other assets, net	—			—		—			20
Other comprehensive gain (loss):
Net change in unrealized gain (loss)	(160		)	—		(225		)	—
Balance, June 30, 2013	$	38,847		$	5,193	$	2,247		$	28,379

The following represents the changes for the three months ended June 30, 2013 related to assets measured at fair value on a recurring basis using significant unobservable inputs (in thousands):



	Available for Sale Securities
	Municipal and other tax-exempt			Other debt securities			Equity securities and mutual funds		Other assets – private equity funds
Balance, December 31, 2012	$	40,702		$	5,399		$	2,161	$	28,169
Transfer to Level 3 from Level 2	—			—			—		—
Purchases, and capital calls	—			—			—		640
Redemptions and distributions	(98		)	—			—		(1,835		)
Gain (loss) recognized in earnings
Gain on other assets, net	—			—			—		1,405
Other comprehensive gain (loss):
Net change in unrealized gain (loss)	(1,757		)	(206		)	86		—
Balance, June 30, 2013	$	38,847		$	5,193		$	2,247	$	28,379

Fair Value Inputs, Fair Value Measured On a Recurring Basis, Quantitative Information [Table Text Block]

A summary of quantitative information about assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of June 30, 2014 follows (in thousands):

Quantitative Information about Level 3 Recurring Fair Value Measurements

Par

Value

Amortized

Cost

Fair

Value

Valuation Technique(s)

Unobservable Input

Range

(Weighted Average)

Available for sale securities

Municipal and other tax-exempt securities

10,970

10,903

10,445

Discounted cash flows

Interest rate spread

4.91%-5.21% (5.17%)

95.11%-96.13% (95.38%)

Other debt securities

4,400

4,231

Discounted cash flows

Interest rate spread

4.38%-5.65% (5.51%)

⁴

95.11% - 95.28 (95.17%)

Other assets - private equity funds

N/A

27,834

Net asset value reported by underlying fund

N/A


¹	Discounted cash flows developed using discount rates primarily based on reference to interest rate spreads for comparable securities of similar duration and credit rating as determined by the nationally-recognized rating agencies, adjusted for lack of trading volume


²	Interest rate yields used to value investment grade tax-exempt securities represent a spread of 480 to 508 basis points over average yields for comparable tax-exempt securities.


³	Represents fair value as a percentage of par value


⁴	Interest rate yields used to value investment grade taxable securities based on comparable short-term taxable securities which are generally yielding less than 1%.

The fair value of these securities measured at fair value using significant unobservable inputs are sensitive primarily to changes in interest rate spreads. At June 30, 2014, for tax-exempt securities rated investment grade by all nationally-recognized rating agencies, a 100 basis point increase in the spreads over average yields for comparable securities would result in an additional decrease in the fair value of $101 thousand. For taxable securities rated investment grade by all nationally-recognized rating agencies, a 100 basis point increase in the spreads over average yield for comparable securities would result in an additional decrease in the fair value of $41 thousand.

A summary of quantitative information about Recurring Fair Value Measurements based on Significant Unobservable Inputs (Level 3) as of December 31, 2013 follows (in thousands):

Quantitative Information about Level 3 Recurring Fair Value Measurements

Par

Value

Amortized

Cost

Fair

Value

Valuation Technique(s)

Unobservable Input

Range

(Weighted Average)

Available for sale securities

Municipal and other tax-exempt securities

18,695

18,624

17,805

Discounted cash flows

Interest rate spread

4.97%-5.27% (5.16%)

95.02%-95.50% (95.24%)

Other debt securities

4,900

4,712

Discounted cash flows

Interest rate spread

5.67% (5.67%)

⁴

96.16% (96.16%)

Equity securities and mutual funds

N/A

2,420

4,207

Publicly announced preliminary purchase price information from acquirer.

Discount for settlement uncertainty.

N/A

⁵

Other assets - private equity funds

N/A

27,341

Net asset value reported by underlying fund

N/A


¹	Discounted cash flows developed using discount rates primarily based on reference to interest rate spreads for comparable securities of similar duration and credit rating as determined by the nationally-recognized rating agencies, adjusted for lack of trading volume


²	Interest rate yields used to value investment grade tax-exempt securities represent a spread of 467 to 518 basis points over average yields for comparable tax-exempt securities.


³	Represents fair value as a percentage of par value


⁴	Interest rate yields used to value investment grade taxable securities based on comparable short-term taxable securities which are generally yielding less than 1%.


⁵	Fair value of shares of a smaller privately-held financial institution were valued using preliminary announced purchase information by a publicly-traded acquirer.

A summary of quantitative information about Recurring Fair Value Measurements based on Significant Unobservable Inputs (Level 3) as of June 30, 2013 follows (in thousands):

Quantitative Information about Level 3 Recurring Fair Value Measurements

Par

Value

Amortized

Cost⁶

Fair

Value

Valuation Technique(s)

Unobservable Input

Range

(Weighted Average)

Available for sale securities

Municipal and other tax-exempt securities

Investment grade

28,470

28,375

27,116

Discounted cash flows

Interest rate spread

4.99%-5.49% (5.24%)

95.01%-95.60% (95.25%)

Below investment grade

17,000

12,384

11,731

Discounted cash flows

Interest rate spread

9.15%-11.19% (9.87%)

⁴

68.91%-69.09% (69.01%)

Total municipal and other tax-exempt securities

45,470

40,759

38,847

Other debt securities

5,400

5,193

Discounted cash flows

Interest rate spread

4.41%-5.69% (5.48%)

⁵

96.13% - 96.16 (96.16%)

Equity securities and mutual funds

N/A

2,420

2,247

Tangible book value per share of publicly traded financial institutions of similar size, less liquidity discount.

Peer group tangible book per share and liquidity discount.

N/A

⁷

Other assets - private equity funds

N/A

28,379

Net asset value reported by underlying fund

N/A


¹	Discounted cash flows developed using discount rates primarily based on reference to interest rate spreads for comparable securities of similar duration and credit rating as determined by the nationally-recognized rating agencies, adjusted for lack of trading volume


²	Interest rate yields used to value investment grade tax-exempt securities represent a spread of 457 to 520 basis points over average yields for comparable tax-exempt securities.


³	Represents fair value as a percentage of par value


⁴	Interest rate yields determined using a spread of 700 basis points over comparable municipal securities of varying durations.


⁵	Interest rate yields used to value investment grade taxable securities based on comparable short-term taxable securities which are generally yielding less than 1%.


⁶	Amortized cost reduced by other-than-temporary impairments recorded in earnings. See Note 2 for additional discussion.


⁷	Fair value of shares of a smaller privately-held financial institution were valued using the tangible book value per share of similarly sized financial institutions within the immediate geographical market with a discount of 20% due to the liquidity of the shares.

Fair Value Assets Measured on Nonrecurring Basis [Table Text Block]

The following represents the carrying value of assets measured at fair value on a non-recurring basis (and related losses) during the period. The carrying value represents only those assets with a balance at June 30, 2014 for which the fair value was adjusted during the six months ended June 30, 2014:



							Fair Value Adjustments for the
	Carrying Value at June 30, 2014						Three Months Ended June 30, 2014 Recognized in:					Six Months Ended June 30, 2014 Recognized in:
	Quoted Prices in Active Markets for Identical Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs		Gross charge-offs against allowance for loan losses		Net losses and expenses of repossessed assets, net			Gross charge-offs against allowance for loan losses		Net losses and expenses of repossessed assets, net
Impaired loans	$	—	$	5,182	$	65	$	949	$	—		$	1,627	$	—
Real estate and other repossessed assets	—		8,303		27		—		(21		)	—		1,308

The following represents the carrying value of assets measured at fair value on a non-recurring basis (and related losses) during the period. The carrying value represents only those assets with a balance at June 30, 2013 for which the fair value was adjusted during the six months ended June 30, 2013:



							Fair Value Adjustments for the
	Carrying Value at June 30, 2013						Three Months Ended June 30, 2013 Recognized in:				Six Months Ended June 30, 2013 Recognized in:
	Quoted Prices in Active Markets for Identical Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs		Gross charge-offs against allowance for loan losses		Net losses and expenses of repossessed assets, net		Gross charge-offs against allowance for loan losses		Net losses and expenses of repossessed assets, net
Impaired loans	$	—	$	10,245	$	4,930	$	5,060	$	—	$	6,601	$	—
Real estate and other repossessed assets	—		7,949		271		—		863		—		1,014

Fair Value Inputs, Fair Value Measured On a Nonrecurring Basis, Quantitative Information [Table Text Block]

A summary of quantitative information about Non-recurring Fair Value Measurements based on Significant Unobservable Inputs (Level 3) as of June 30, 2014 follows (in thousands):



Quantitative Information about Level 3 Non-recurring Fair Value Measurements
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
Impaired loans	$	65	Appraised value, as adjusted	Broker quotes and management's knowledge of industry and collateral.	N/A
Real estate and other repossessed assets	$	27	Listing value, less cost to sell	Marketability adjustment off appraised value	77%¹


¹	Marketability adjustments include consideration of estimated costs to sell, which is approximately 10% of fair value.

A summary of quantitative information about Non-recurring Fair Value Measurements based on Significant Unobservable Inputs (Level 3) as of June 30, 2013 follows (in thousands):



Quantitative Information about Level 3 Non-recurring Fair Value Measurements
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
Impaired loans	$	4,930	Appraised value, as adjusted	Broker quotes and management's knowledge of industry and collateral.	N/A
Real estate and other repossessed assets	271		Listing value, less cost to sell	Marketability adjustments off appraised value	71%-81% (76%)¹


¹	Marketability adjustments include consideration of estimated costs to sell, which is approximately 15% of fair value.

Fair Value of Financial Instruments [Table Text Block]

The following table presents the carrying values and estimated fair values of all financial instruments, including those financial assets and liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis as of June 30, 2014 (dollars in thousands):



	Carrying Value			Range of Contractual Yields	Average Re-pricing (in years)	Discount Rate		Estimated Fair Value
Cash and due from banks	$	615,479						$	615,479
Interest-bearing cash and cash equivalents	732,395							732,395
Trading securities:
U.S. Government agency debentures	19,027							19,027
U.S. agency residential mortgage-backed securities	13,540							13,540
Municipal and other tax-exempt securities	32,950							32,950
Other trading securities	35,580							35,580
Total trading securities	101,097							101,097
Investment securities:
Municipal and other tax-exempt	425,221							429,051
U.S. agency residential mortgage-backed securities	41,973							44,176
Other debt securities	182,743							197,584
Total investment securities	649,937							670,811
Available for sale securities:
U.S. Treasury	1,024							1,024
Municipal and other tax-exempt	64,970							64,970
U.S. agency residential mortgage-backed securities	7,259,504							7,259,504
Privately issued residential mortgage-backed securities	179,042							179,042
Commercial mortgage-backed securities guaranteed by U.S. government agencies	2,115,295							2,115,295
Other debt securities	34,528							34,528
Perpetual preferred stock	24,730							24,730
Equity securities and mutual funds	20,053							20,053
Total available for sale securities	9,699,146							9,699,146
Fair value option securities:
U.S. agency residential mortgage-backed securities	181,205							181,205
Other securities	4,469							4,469
Total fair value option securities	185,674							185,674
Residential mortgage loans held for sale	325,875							325,875
Loans:
Commercial	8,367,661			0.16% - 30.00%	0.67	0.55% - 4.28%		8,244,031
Commercial real estate	2,654,978			0.38% - 18.00%	0.83	1.14% - 3.59%		2,635,903
Residential mortgage	2,008,215			1.20% - 18.00%	2.49	0.55% - 4.18%		2,043,551
Consumer	396,004			0.38% - 21.00%	0.49	1.07% - 3.79%		39,038
Total loans	13,426,858							12,962,523
Allowance for loan losses	(190,690		)					—
Loans, net of allowance	13,236,168							12,962,523
Mortgage servicing rights	155,740							155,740
Derivative instruments with positive fair value, net of cash margin	357,680							357,680
Other assets – private equity funds	27,834							27,834
Deposits with no stated maturity	17,956,038							17,956,038
Time deposits	2,615,826			0.03% - 9.64%	2.07	0.74% - 1.29%		2,623,086
Other borrowed funds	3,009,610			0.25% - 6.80%	—	0.09% - 2.62%		2,984,331
Subordinated debentures	347,890			0.91% - 5.00%	2.16	2.20	%	344,717
Derivative instruments with negative fair value, net of cash margin	297,851							297,851



	Carrying Value			Range of Contractual Yields	Average Re-pricing (in years)	Discount Rate		Estimated Fair Value
Cash and due from banks	$	512,931						$	512,931
Interest-bearing cash and cash equivalents	574,282							574,282
Trading securities:
U.S. Government agency debentures	34,120							34,120
U.S. agency residential mortgage-backed securities	21,011							21,011
Municipal and other tax-exempt securities	27,350							27,350
Other trading securities	9,135							9,135
Total trading securities	91,616							91,616
Investment securities:
Municipal and other tax-exempt	440,187							439,870
U.S. agency residential mortgage-backed securities	50,182							51,864
Other debt securities	187,509							195,393
Total investment securities	677,878							687,127
Available for sale securities:
U.S. Treasury	1,042							1,042
Municipal and other tax-exempt	73,775							73,775
U.S. agency residential mortgage-backed securities	7,716,010							7,716,010
Privately issued residential mortgage-backed securities	221,099							221,099
Commercial mortgage-backed securities guaranteed by U.S. government agencies	2,055,804							2,055,804
Other debt securities	35,241							35,241
Perpetual preferred stock	22,863							22,863
Equity securities and mutual funds	21,328							21,328
Total available for sale securities	10,147,162							10,147,162
Fair value option securities:
U.S. agency residential mortgage-backed securities	157,431							157,431
Other securities	9,694							9,694
Total fair value option securities	167,125							167,125
Residential mortgage loans held for sale	200,546							200,546
Loans:
Commercial	7,943,221			0.04% - 30.00%	0.49	0.48% - 4.33%		7,835,325
Commercial real estate	2,415,353			0.38% - 18.00%	0.78	1.21% - 3.49%		2,394,443
Residential mortgage	2,052,026			0.38% - 18.00%	2.63	0.59% - 4.73%		2,068,690
Consumer	381,664			0.38% - 21.00%	0.55	1.22% - 3.75%		375,962
Total loans	12,792,264							12,674,420
Allowance for loan losses	(185,396		)					—
Loans, net of allowance	12,606,868							12,674,420
Mortgage servicing rights	153,333							153,333
Derivative instruments with positive fair value, net of cash margin	265,012							265,012
Other assets – private equity funds	27,341							27,341
Deposits with no stated maturity	17,573,334							17,573,334
Time deposits	2,695,993			0.01% - 9.64%	2.12	0.75% - 1.33%		2,697,290
Other borrowed funds	2,721,888			0.25% - 4.78%	0.03	0.08% - 2.64%		2,693,788
Subordinated debentures	347,802			0.95% - 5.00%	2.63	2.22	%	344,783
Derivative instruments with negative fair value, net of cash margin	247,185							247,185



	Carrying Value			Range of Contractual Yields	Average Re-pricing (in years)	Discount Rate		Estimated Fair Value
Cash and due from banks	$	507,551						$	507,551
Interest-bearing cash and cash equivalents	570,836							570,836
Trading securities:
U.S. Government agency debentures	60,713							60,713
U.S. agency residential mortgage-backed securities	43,858							43,858
Municipal and other tax-exempt securities	53,819							53,819
Other trading securities	32,201							32,201
Total trading securities	190,591							190,591
Investment securities:
Municipal and other tax-exempt	375,317							371,690
U.S. agency residential mortgage-backed securities	64,172							66,796
Other debt securities	176,301							187,219
Total investment securities	615,790							625,705
Available for sale securities:
U.S. Treasury	1,060							1,060
Municipal and other tax-exempt	95,103							95,103
U.S. agency residential mortgage-backed securities	8,372,795							8,372,795
Privately issued residential mortgage-backed securities	297,175							297,175
Commercial mortgage-backed securities guaranteed by U.S. government agencies	1,846,943							1,846,943
Other debt securities	35,894							35,894
Perpetual preferred stock	25,583							25,583
Equity securities and mutual funds	23,521							23,521
Total available for sale securities	10,698,074							10,698,074
Fair value option securities:
U.S. agency residential mortgage-backed securities	203,816							203,816
Other securities	1,940							1,940
Total fair value option securities	205,756							205,756
Residential mortgage loans held for sale	301,057							301,057
Loans:
Commercial	7,708,120			0.25% - 30.00%	0.63	0.59% - 4.19%		7,638,327
Commercial real estate	2,317,096			0.38% - 18.00%	0.83	1.23% - 3.47%		2,288,188
Residential mortgage	2,039,785			0.38% - 18.00%	3.64	0.70% - 4.46%		2,038,375
Consumer	375,781			0.38% - 21.00%	0.35	1.26% - 3.74%		369,375
Total loans	12,440,782							12,334,265
Allowance for loan losses	(203,124		)					—
Loans, net of allowance	12,237,658							12,334,265
Mortgage servicing rights	132,889							132,889
Derivative instruments with positive fair value, net of cash margin	546,206							546,206
Other assets – private equity funds	28,379							28,379
Deposits with no stated maturity	16,728,258							16,728,258
Time deposits	2,767,972			0.03% - 9.64%	2.02	0.76% - 1.30%		2,781,202
Other borrowed funds	4,073,915			0.25% - 5.25%	—	0.07% - 2.66%		4,034,685
Subordinated debentures	347,716			0.97% - 5.00%	3.10	2.24	%	345,201
Derivative instruments with negative fair value, net of cash margin	521,991							521,991

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details