Fair Value Of Assets And Liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Of Assets And Liabilities [Abstract]

Summary Of Balances Of Assets And Liabilities Measured At Fair Value On A Recurring Basis


	December 31, 2011
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	16,173	$	—	$	16,173	$	—
U.S. Government agencies		765,916		—		765,916		—
Municipal		60,098		—		35,887		24,211
Corporate notes and other		169,936		—		169,936		—
Mortgage-backed		248,551		—		248,551		—
Equity securities		31,123		—		12,152		18,971
Trading account securities		2,490		—		2,490		—
Mortgage loans held-for-sale		306,838		—		306,838		—
Mortgage servicing rights		6,700		—		—		6,700
Nonqualified deferred compensations assets		4,299		—		4,299		—
Derivative assets		38,607		—		38,607		—

Total	$	1,650,731	$	—	$	1,600,849	$	49,882

Derivative liabilities	$	50,081	$	—	$	50,081	$	—


	December 31, 2010
(Dollars in thousands)	Total		Level 1		Level 2		Level 3
Available-for-sale securities
U.S. Treasury	$	96,097	$	—	$	96,097	$	—
U.S. Government agencies		884,055		—		884,055		—
Municipal		52,303		—		35,887		16,416
Corporate notes and other		261,915		—		252,074		9,841
Mortgage-backed		161,681		—		159,221		2,460
Equity securities		40,251		—		11,579		28,672
Trading account securities		4,879		71		436		4,372
Mortgage loans held-for-sale		356,662		—		356,662		—
Mortgage servicing rights		8,762		—		—		8,762
Nonqualified deferred compensations assets		3,613		—		3,613		—
Derivative assets		18,670		—		18,670		—

Total	$	1,888,888	$	71	$	1,818,294	$	70,523

Derivative liabilities	$	29,974	$	—	$	29,974	$	—

Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis


(Dollars in thousands)	U.S. Agencies		Municipal			Corporate notes and other debt			Mortgage- backed			Equity securities			Trading Account Securities			Mortgage servicing rights
Balance at January 1, 2011	$	—	$	16,416		$	9,841		$	2,460		$	28,672		$	4,372		$	8,762
Total net gains (losses) included in:
Net income ⁽¹⁾		—		—			(274	)		(53	)		—			—			(2,062	)
Other comprehensive income		—		77			—			—			(6,101	)		—			—
Purchases		—		26,425			7,246			1,126			1,800			—			—
Issuances		—		—			—			—			—			—			—
Sales		—		(19,469	)		—			—			—			(4,372	)		—
Settlements		—		(1,230	)		(333	)		(116	)		—			—			—
Net transfers into (out of) Level 3⁽²⁾		—		1,992			(16,480	)		(3,417	)		(5,400	)		—			—

Balance at December 31, 2011	$	—	$	24,211		$	—		$	—		$	18,971		$	—		$	6,700

(1)

Income for Corporate notes and other debt, and mortgage-backed are recognized as a component of interest income on securities. Additionally, changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income.

(2)

The transfer of available for sale securities into Level 3 is the result of the use of significant inputs that are unobservable in the market due to limited activity or a less liquid market.

Transfers out of Level 3 result from the availability and use of observable market information that market participatnts would use in pricing these securities

Transfers into/out of Level 3 are recognized at the end of the reporting period.

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis during the year ended December 31, 2010 are summarized as follows:


(Dollars in thousands)	Municipal			Corporate notes and other debt			Mortgage- backed			Equity securities			Trading Account Securities			Mortgage servicing rights		Retained interests
Balance at January 1, 2010	$	17,152		$	51,194		$	158,449		$	26,800		$	31,924		$	6,745	$	43,541
Total net gains (losses) included in:
Net income ⁽¹⁾		—			(35	)		(7,947	)		—			5,140			2,017		—
Other comprehensive income		—			1			2,520			(419	)		—			—		—
Purchases, issuances, sales and settlements, net		3,551			(40,781	)		(145,736	)		2,291			(32,692	)		—		(43,541	)
Net transfers out of Level 3		(4,287	)		(538	)		(4,826	)		—			—			—		—

Balance at December 31, 2010	$	16,416		$	9,841		$	2,460		$	28,672		$	4,372		$	8,762	$	—

(1)

Income for Corporate notes, other debt and mortgage-backed is recognized as a component of interest income on securities. Income for trading account securities is recognized as a component of trading income in non-interest income and trading account securities interest income. Changes in the balance of mortgage servicing rights are recorded as a component of mortgage banking revenue in non-interest income.

Summary Of Assets Measured At Fair Value On A Nonrecurring Basis


									Twelve Months Ended December 31, 2011 Fair Value
	December 31, 2011								Losses (Gains)
(Dollars in thousands)	Total		Level 1		Level 2		Level 3		Recognized
Impaired loans	$	226,538	$	—	$	—	$	226,538	$	48,461
Other real estate owned		86,523		—		—		86,523		26,620
Mortgage loans held-for-sale, at lower of cost or market		13,686		—		13,686		—		(358	)

Total	$	326,747	$	—	$	13,686	$	313,061	$	74,723

Summary Of Carrying Amounts And Estimated Fair Values Of Financial Instruments


	At December 31, 2011				At December 31, 2010
(Dollars in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets:
Cash and cash equivalents	$	169,704	$	169,704	$	172,580	$	172,580
Interest bearing deposits with banks		749,287		749,287		865,575		865,575
Available-for-sale securities		1,291,797		1,291,797		1,496,302		1,496,302
Trading account securities		2,490		2,490		4,879		4,879
Brokerage customer receivables		27,925		27,925		24,549		24,549
Federal Home Loan Bank and Federal Reserve Bank stock, at cost		100,434		100,434		82,407		82,407
Mortgage loans held-for-sale, at fair value		306,838		306,838		356,662		356,662
Mortgage loans held-for-sale, at lower of cost or market		13,686		13,897		14,785		14,841
Total loans		11,172,745		11,590,729		9,934,239		10,088,429
Mortgage servicing rights		6,700		6,700		8,762		8,762
Nonqualified deferred compensation assets		4,299		4,299		3,613		3,613
Derivative assets		38,607		38,607		18,670		18,670
FDIC indemnification asset		344,251		344,251		118,182		118,182
Accrued interest receivable and other		147,207		147,207		137,744		137,744

Total financial assets	$	14,375,970	$	14,794,165	$	13,238,949	$	13,393,195

Financial Liabilities
Non-maturity deposits	$	7,424,367		7,424,367	$	5,925,761	$	5,925,761
Deposits with stated maturities		4,882,900		4,917,740		4,877,912		4,925,403
Notes payable		52,822		52,822		1,000		1,000
Federal Home Loan Bank advances		474,481		507,368		423,500		440,644
Subordinated notes		35,000		35,000		50,000		50,000
Other borrowings		443,753		443,753		260,620		260,620
Secured borrowings owed to securitization investors		600,000		603,294		600,000		600,333
Junior subordinated debentures		249,493		185,199		249,493		183,818
Derivative liabilities		50,081		50,081		29,974		29,974
Accrued interest payable and other		12,952		12,952		15,518		15,518

Total financial liabilities	$	14,225,849	$	14,232,576	$	12,433,778	$	12,433,071

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), 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); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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