Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Carrying Value And Fair Value Of Financial Instruments Not Recorded At Fair Value


(in thousands)
	December 31, 2012				December 31, 2011
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
FINANCIAL ASSETS:
Cash and cash equivalents	$	543,787	$	543,787	$	598,766	$	598,766
Trading securities		3,747		3,747		2,309		2,309
Securities available for sale		2,625,229		2,625,229		3,168,578		3,168,578
Securities held to maturity		4,541		4,732		4,714		4,759
Loans held for sale		320,132		320,132		102,098		102,098
Non-covered loans and leases, net		6,595,689		6,652,179		5,795,130		5,816,714
Covered loans and leases, net		477,078		543,628		622,451		722,295
Restricted equity securities		33,443		33,443		32,581		32,581
Mortgage servicing rights		27,428		27,428		18,184		18,184
Bank owned life insurance assets		93,831		93,831		92,555		92,555
FDIC indemnification asset		52,798		18,714		91,089		47,008
Derivatives		23,842		23,842		7,955		7,955
Visa Class B common stock		-		28,385		-		19,230

FINANCIAL LIABILITIES:
Deposits	$	9,379,275	$	9,396,646	$	9,236,690	$	9,260,327
Securities sold under agreements to repurchase		137,075		137,075		124,605		124,605
Term debt		253,605		289,404		255,676		284,911
Junior subordinated debentures, at fair value		85,081		85,081		82,905		82,905
Junior subordinated debentures, at amortized cost		110,985		78,529		102,544		68,698
Derivatives		22,971		22,971		6,509		6,509

Schedule of Fair Value Assets and Liabilities Not Measured at Fair Value by Level


(in thousands)
	Fair Value at December 31, 2012
Description	Total		Level 1		Level 2		Level 3
ASSETS
Cash and cash equivalents	$	543,787	$	543,787	$	-	$	-
Securities held to maturity		4,732		-		-		4,732
Non-covered loans and leases, net		6,652,179		-		-		6,652,179
Covered loans and leases, net		543,628		-		-		543,628
Restricted equity securities		33,443		33,443		-		-
Bank owned life insurance assets		93,831		93,831		-		-
FDIC indemnification asset		18,714		-		-		18,714
Visa Class B common stock		28,385		-		-		28,385

Deposits
Non-maturity deposits	$	7,376,288	$	7,376,288	$	-	$	-
Deposits with stated maturities		2,020,358		-		2,020,358		-
Securities sold under agreements to repurchase		137,075		-		137,075		-
Term debt		289,404		-		289,404		-
Junior subordinated debentures, at amortized cost		78,529		-		-		78,529

Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis


(in thousands)
	Fair Value at December 31, 2012
Description	Total		Level 1		Level 2		Level 3
Trading securities
Obligations of states and political subdivisions	$	1,216	$	-	$	1,216	$	-
Equity securities		123		123		-		-
Other investments securities⁽¹⁾		2,408		2,408		-		-
Available for sale securities
U.S. Treasury and agencies		45,820		-		45,820		-
Obligations of states and political subdivisions		263,725		-		263,725		-
Residential mortgage-backed securities and
collateralized mortgage obligations		2,313,376		-		2,313,376		-
Other debt securities		222		-		222		-
Investments in mutual funds and
other equity securities		2,086		-		2,086		-
Loans held for sale		320,132		-		320,132		-
Mortgage servicing rights, at fair value		27,428		-		-		27,428
Derivatives
Interest rate lock commitments		1,496		-		1,496		-
Interest rate forward sales commitments		133		-		133		-
Interest rate swaps		22,213		-		22,213		-
Total assets measured at fair value	$	3,000,378	$	2,531	$	2,970,419	$	27,428

Junior subordinated debentures, at fair value	$	85,081	$	-	$	-	$	85,081
Derivatives
Interest rate lock commitments		18		-		18		-
Interest rate forward sales commitments		905		-		905		-
Interest rate swaps		22,048		-		22,048		-
Total liabilities measured at fair value	$	108,052	$	-	$	22,971	$	85,081


(in thousands)
	Fair Value at December 31, 2011
Description	Total		Level 1		Level 2		Level 3
Trading securities
Obligations of states and political subdivisions	$	296	$	-	$	296	$	-
Equity securities		1,918		1,918		-		-
Other investments securities⁽¹⁾		95		95		-		-
Available for sale securities
U.S. Treasury and agencies		118,465		-		118,465		-
Obligations of states and political subdivisions		253,553		-		253,553		-
Residential mortgage-backed securities and
collateralized mortgage obligations		2,794,355		-		2,794,355		-
Other debt securities		134		-		134		-
Investments in mutual funds and
other equity securities		2,071		-		2,071		-
Loans held for sale		102,098				102,098
Mortgage servicing rights, at fair value		18,184		-		-		18,184
Derivatives
Interest rate lock commitments		1,752		-		1,752		-
Interest rate forward sales commitments		-		-		-		-
Interest rate swaps		6,203		-		6,203		-
Total assets measured at fair value	$	3,299,124	$	2,013	$	3,278,927	$	18,184

Junior subordinated debentures, at fair value	$	82,905	$	-	$	-	$	82,905
Derivatives
Interest rate lock commitments		3		-		3		-
Interest rate forward sales commitments		90		-		90		-
Interest rate swaps		6,416		-		6,416		-
Total liabilities measured at fair value	$	89,414	$	-	$	6,509	$	82,905

(1) Principally represents U.S. Treasury and agencies or residential mortgage-backed securities issued or guaranteed by governmental agencies.

Schedule of a Description of the Valuation Technique, Unobservable Input, and Qualitative Information for the Company's Assets and Liabilities Classfied as Level 3


(in thousands)
Financial Instrument	Valuation Technique	Unobservable Input	Weighted Average
Mortgage servicing rights	Discounted cash flow
		Constant Prepayment Rate	21.39%
		Discount Rate	8.65%
Junior subordinated debentures	Discounted cash flow
		Credit Spread	6.21%

Schedule Of Reconciliation Of Assets And Liabilities Measured At Fair Value Using Significant Unobservable Inputs (Level 3) On A Recurring Basis

during the years ended December 31, 2012 and December 31, 2011:


(in thousands)
		Beginning Balance		Change included in earnings		Purchases and issuances		Sales and settlements		Ending Balance		Net change in unrealized gains or (losses) relating to items held at end of period
2012
Mortgage servicing rights	$	18,184	$	(8,466)	$	17,710	$	-	$	27,428	$	(3,778)
Junior subordinated debentures		82,905		6,350		-		(4,174)		85,081		6,350

2011
Mortgage servicing rights	$	14,454	$	(2,990)	$	6,720	$	-	$	18,184	$	(961)
Junior subordinated debentures		80,688		6,134		-		(3,917)		82,905		6,134

Fair Value Assets And Liabilities Measured On Nonrecurring Basis


(in thousands)
	December 31, 2012
	Total		Level 1		Level 2		Level 3
Investment securities, held to maturity
Residential mortgage-backed securities
and collateralized mortgage obligations	$	432	$	-	$	-	$	432
Non-covered loans and leases		34,007		-		-		34,007
Non-covered other real estate owned		4,671		-		-		4,671
Covered other real estate owned		8,957		-		-		8,957
	$	48,067	$	-	$	-	$	48,067

	December 31, 2011
	Total		Level 1		Level 2		Level 3
Investment securities, held to maturity
Residential mortgage-backed securities
and collateralized mortgage obligations	$	487	$	-	$	-	$	487
Non-covered loans and leases		53,847		-		-		53,847
Non-covered other real estate owned		11,321		-		-		11,321
Covered other real estate owned		12,561		-		-		12,561
	$	78,216	$	-	$	-	$	78,216

Losses Resulting From Nonrecurring Fair Value Adjustments


(in thousands)
	2012		2011		2010
Investment securities, held to maturity
Residential mortgage-backed securities
and collateralized mortgage obligations	$	155	$	359	$	414
Non-covered loans and leases		37,897		51,883		119,240
Non-covered other real estate owned		6,896		8,947		4,074
Covered other real estate owned		4,646		8,709		1,941
Total loss from nonrecurring measurements	$	49,594	$	69,898	$	125,669

Fair Value Option


(in thousands)
		2012						2011
						Fair Value						Fair Value
				Aggregate		Less Aggregate				Aggregate		Less Aggregate
		Fair		Unpaid Principal		Unpaid Principal		Fair		Unpaid Principal		Unpaid Principal
		Value		Balance		Balance		Value		Balance		Balance
Loans held for sale	$	320,132	$	302,760	$	17,372	$	102,098	$	98,691	$	3,407

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- 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.

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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 application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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