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Fair Value (Tables)
3 Months Ended
Mar. 31, 2015
Fair Value Disclosures [Abstract]  
Schedule Of Assets And Liabilities Measured At Fair Value By Class On A Recurring Basis
(In thousands)
March 31, 2015
Level 1
 
Level 2
 
Level 3
 
Total
ASSETS
 
 
 
 
 
 
 
Investment securities:
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
U.S. Treasury, agencies and corporations
$

 
$
3,655,221

 
$

 
$
3,655,221

Municipal securities
 
 
173,145

 
2,465

 
175,610

Asset-backed securities:
 
 
 
 
 
 
 
Trust preferred – banks and insurance
 
 
23,179

 
438,338

 
461,517

Other
 
 
638

 
4,826

 
5,464

Mutual funds and other
124,443

 
28,247

 
 
 
152,690

 
124,443

 
3,880,430

 
445,629

 
4,450,502

Trading account
 
 
71,392

 
 
 
71,392

Other noninterest-bearing investments:
 
 
 
 
 
 
 
Bank-owned life insurance
 
 
478,926

 
 
 
478,926

Private equity
 
 


 
107,448

 
107,448

Other assets:
 
 
 
 
 
 
 
Agriculture loan servicing and interest-only strips

 


 
12,001

 
12,001

Deferred compensation plan assets
91,368

 


 


 
91,368

Derivatives:
 
 
 
 
 
 
 
Interest rate related and other
 
 
5,408

 
 
 
5,408

Interest rate swaps for customers
 
 
58,982

 
 
 
58,982

Foreign currency exchange contracts
20,373

 
 
 
 
 
20,373

 
20,373

 
64,390

 

 
84,763

 
$
236,184

 
$
4,495,138

 
$
565,078

 
$
5,296,400

LIABILITIES
 
 
 
 
 
 
 
Securities sold, not yet purchased
$
6,749

 
$

 
$

 
$
6,749

Other liabilities:
 
 
 
 
 
 
 
Deferred compensation plan obligations
91,368

 

 

 
91,368

Derivatives:
 
 
 
 
 
 
 
Interest rate related and other
 
 
176

 
 
 
176

Interest rate swaps for customers
 
 
62,452

 
 
 
62,452

Foreign currency exchange contracts
18,671

 
 
 
 
 
18,671

 
18,671

 
62,628

 

 
81,299

 
$
116,788

 
$
62,628

 
$

 
$
179,416

(In thousands)
December 31, 2014
Level 1
 
Level 2
 
Level 3
 
Total
ASSETS
 
 
 
 
 
 
 
Investment securities:
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
U.S. Treasury, agencies and corporations
$

 
$
3,098,208

 
$

 
$
3,098,208

Municipal securities
 
 
185,093

 
4,164

 
189,257

Asset-backed securities:
 
 
 
 
 
 
 
Trust preferred – banks and insurance
 
 
22,701

 
393,007

 
415,708

Auction rate
 
 
 
 
4,761

 
4,761

Other
 
 
666

 
25

 
691

Mutual funds and other
105,348

 
30,275

 
 
 
135,623

 
105,348

 
3,336,943

 
401,957

 
3,844,248

Trading account
 
 
70,601

 
 
 
70,601

Other noninterest-bearing investments:
 
 
 
 
 
 
 
Bank-owned life insurance
 
 
476,290

 
 
 
476,290

Private equity
 
 


 
99,865

 
99,865

Other assets:
 
 
 
 
 
 
 
Agriculture loan servicing and interest-only strips

 


 
12,227

 
12,227

Deferred compensation plan assets
88,878

 


 


 
88,878

Derivatives:
 
 
 
 
 
 
 
Interest rate related and other
 
 
1,508

 
 
 
1,508

Interest rate swaps for customers
 
 
48,287

 
 
 
48,287

Foreign currency exchange contracts
16,625

 
 
 
 
 
16,625

 
16,625

 
49,795

 

 
66,420

 
$
210,851

 
$
3,933,629

 
$
514,049

 
$
4,658,529

LIABILITIES
 
 
 
 
 
 
 
Securities sold, not yet purchased
$
24,230

 
$

 
$

 
$
24,230

Other liabilities:
 
 
 
 
 
 
 
Deferred compensation plan obligations
88,878

 

 

 
88,878

Derivatives:
 
 
 
 
 
 
 
Interest rate related and other
 
 
297

 
 
 
297

Interest rate swaps for customers
 
 
50,669

 
 
 
50,669

Foreign currency exchange contracts
15,272

 
 
 
 
 
15,272

 
15,272

 
50,966

 

 
66,238

Other
 
 
 
 
13

 
13

 
$
128,380

 
$
50,966

 
$
13

 
$
179,359

Schedule Of Assets And Liabilities Measured At Fair Value By Class On A Recurring Basis Using Level 3 Inputs
 
Level 3 Instruments
 
Three Months Ended March 31, 2015
(In thousands)
Municipal
securities

Trust 
preferred – banks and insurance

Trust
preferred
 – REIT

Other

Private
equity
investments

Ag loan svcg and int-only strips

Derivatives
and other
liabilities

 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2014
$
4,164

 
$
393,007

 
$

 
$
4,786

 
$
99,865

 
$
12,227

 
$
(13
)
Net gains (losses) included in:
 
 
 
 
 
 
 
 
 
 
 
 
 
Statement of income:
 
 
 
 
 
 
 
 
 
 
 
 
 
Accretion of purchase discount on securities available-for-sale
2

 
257

 


 


 
 
 
 
 
 
Dividends and other investment income
 
 
 
 
 
 
 
 
1,074

 
 
 
 
Equity securities losses, net
 
 
 
 
 
 
 
 
3,253

 
 
 
 
Fixed income securities gains (losses), net
31

 
(323
)
 

 


 
 
 
 
 
 
Other noninterest income
 
 
 
 
 
 
 
 
 
 
4

 
 
Other noninterest expense
 
 
 
 
 
 
 
 
 
 
 
 
13

Other comprehensive income (loss)
127

 
(6,949
)
 


 
42

 
 
 
 
 
 
Fair value of HTM securities reclassified as AFS
 
 
57,308

 
 
 
 
 
 
 
 
 
 
Purchases
 
 
 
 
 
 
 
 
5,052

 
171

 
 
Sales

 
(2,613
)
 

 

 
(1,517
)
 
 
 
 
Redemptions and paydowns
(1,859
)
 
(2,349
)
 
 
 
(2
)
 
(279
)
 
(401
)
 

Balance at March 31, 2015
$
2,465

 
$
438,338

 
$

 
$
4,826

 
$
107,448

 
$
12,001

 
$


 
Level 3 Instruments
 
Three Months Ended March 31, 2014
(In thousands)
Municipal
securities

Trust 
preferred – banks and insurance

Trust
preferred – REIT

Auction
rate

Other
asset-backed

Private
equity
investments

Ag loan svcg and int-only strips

Derivatives
and other
liabilities

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2013
$
10,662

 
$
1,238,820

 
$
22,996

 
$
6,599

 
$
25,800

 
$
82,410

 
$
8,852

 
$
(4,303
)
Net gains (losses) included in:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Statement of income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accretion of purchase discount on securities available-for-sale
10

 
720

 

 
1

 


 
 
 
 
 
 
Dividends and other investment income
 
 
 
 
 
 
 
 
 
 
(1,695
)
 
 
 
 
Fair value and nonhedge derivative loss
 
 
 
 
 
 
 
 
 
 
 
 

 
(7,427
)
Fixed income securities gains, net
16

 
18,582

 
1,399

 


 
10,917

 
 
 
 
 
 
Other noninterest income
 
 
 
 
 
 
 
 
 
 
 
 
481

 
 
Other noninterest expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8

Other comprehensive income (loss)
(274
)
 
94,462

 


 
(40
)
 
(15
)
 
 
 
 
 
 
Purchases
 
 
 
 
 
 
 
 
 
 
1,356

 
2,077

 
 
Sales
 
 
(546,388
)
 
(24,395
)
 
 
 
(36,669
)
 
(824
)
 
 
 
 
Redemptions and paydowns
(230
)
 
(46,786
)
 
 
 


 
(3
)
 
(195
)
 
(203
)
 
6,090

Transfers to Level 2
 
 
(69,193
)
 
 
 
 
 
 
 
 
 
 
 
 
Balance at March 31, 2014
$
10,184

 
$
690,217

 
$

 
$
6,560

 
$
30

 
$
81,052

 
$
11,207

 
$
(5,632
)
Schedule Of Realized Gains (Losses) Using Level 3 Inputs
 
(In thousands)
Three Months Ended March 31,
 
 
2015
 
2014
 
 
 
 
 
 
Dividends and other investment income
$

 
$
34

 
Fixed income securities gains (losses), net
(292
)
 
30,914

Summary of Quantitative Information Relating to the Principal Valuation Techniques and Significant Unobservable Inputs for Level 3 [Table Text Block]
 
Level 3 Instruments
 
Quantitative information at March 31, 2015
(Dollar amounts in thousands)
Fair value
 
Principal valuation techniques
 
Significant unobservable inputs
 
Range of inputs
(% annually)
Asset-backed securities:
 
 
 
 
 
 
 
Trust preferred – predominantly banks
$
438,338

 
Discounted cash flow
Market comparables
 
Constant prepayment rate
 
until maturity – 2.0%
 
 
 
 
 
Constant default rate
 
yr 1 – 0.3% to 0.5%
 
 
 
 
 
 
 
yrs 2-5 – 0.5% to 0.7%
 
 
 
 
 
 
 
yrs 6 to maturity – 0.6% to 0.7%
 
 
 
 
 
Loss given default
 
100%
 
 
 
 
 
Loss given deferral
 
11.9% to 100%
 
 
 
 
 
Discount rate
(spread over forward LIBOR)
 
3.7% to 5.4%

 
Level 3 Instruments
 
Quantitative information at December 31, 2014
(Dollar amounts in thousands)
Fair value
 
Principal valuation techniques
 
Significant unobservable inputs
 
Range of inputs
(% annually)
Asset-backed securities:
 
 
 
 
 
 
 
Trust preferred – predominantly banks
$
393,007

 
Discounted cash flow
Market comparables
 
Constant prepayment rate
 
until maturity – 2.0%
 
 
 
 
 
Constant default rate
 
yr 1 – 0.3% to 0.8%
 
 
 
 
 
 
 
yrs 2-5 – 0.5% to 0.9%
 
 
 
 
 
 
 
yrs 6 to maturity – 0.6% to 0.7%
 
 
 
 
 
Loss given default
 
100%
 
 
 
 
 
Loss given deferral
 
14.5% to 100%
 
 
 
 
 
Discount rate
(spread over forward LIBOR)
 
3.4% to 5.6%
Schedule Of Assets With Fair Value Changes On Nonrecurring Basis
(In thousands)
Fair value at March 31, 2015
 
Fair value at December 31, 2014
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Private equity investments, carried at cost
$

 
$

 
$
1,997

 
$
1,997

 
$

 
$

 
$
23,454

 
$
23,454

Impaired loans

 
9,793

 

 
9,793

 

 
20,494

 

 
20,494

Other real estate owned

 
2,886

 

 
2,886

 

 
8,034

 

 
8,034

 
$

 
$
12,679

 
$
1,997

 
$
14,676

 
$

 
$
28,528

 
$
23,454

 
$
51,982


The previous fair values may not be current as of the dates indicated, but rather as of the date the fair value change occurred, such as a charge for impairment. Accordingly, carrying values may not equal current fair value.
 
Gains (losses) from fair value changes
(In thousands)

Three Months Ended
March 31,
2015
 
2014
ASSETS
 
 
 
HTM securities adjusted for OTTI
$

 
$
(27
)
Private equity investments, carried at cost
(1,153
)
 

Impaired loans
(4,487
)
 
(2,177
)
Other real estate owned
(1,008
)
 
(2,234
)
 
$
(6,648
)
 
$
(4,438
)
Fair Value, by Balance Sheet Grouping [Table Text Block]
 
 
March 31, 2015
(In thousands)
 
 
 
 
 
 
 
Gross amounts not offset in the balance sheet
 
 
Description
 
Gross amounts recognized
 
Gross amounts offset in the balance sheet
 
Net amounts presented in the balance sheet
 
Financial instruments
 
Cash collateral received/pledged
 
Net amount
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Federal funds sold and security resell agreements
 
$
1,519,352

 
$

 
$
1,519,352

 
$

 
$

 
$
1,519,352

Derivatives (included in other assets)
 
83,978

 

 
83,978

 
(5,121
)
 

 
78,857

 
 
$
1,603,330

 
$

 
$
1,603,330

 
$
(5,121
)
 
$

 
$
1,598,209

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Federal funds and other short-term borrowings
 
$
203,597

 
$

 
$
203,597

 
$

 
$

 
$
203,597

Derivatives (included in other liabilities)
 
81,123

 

 
81,123

 
(5,121
)
 
(38,833
)
 
37,169

 
 
$
284,720

 
$

 
$
284,720

 
$
(5,121
)
 
$
(38,833
)
 
$
240,766


 
 
December 31, 2014
(In thousands)
 
 
 
 
 
 
 
Gross amounts not offset in the balance sheet
 
 
Description
 
Gross amounts recognized
 
Gross amounts offset in the balance sheet
 
Net amounts presented in the balance sheet
 
Financial instruments
 
Cash collateral received/pledged
 
Net amount
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Federal funds sold and security resell agreements
 
$
1,386,291

 
$

 
$
1,386,291

 
$

 
$

 
$
1,386,291

Derivatives (included in other assets)
 
66,420

 

 
66,420

 
(3,755
)
 

 
62,665

 
 
$
1,452,711

 
$

 
$
1,452,711

 
$
(3,755
)
 
$

 
$
1,448,956

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Federal funds and other short-term borrowings
 
$
244,223

 
$

 
$
244,223

 
$

 
$

 
$
244,223

Derivatives (included in other liabilities)
 
66,064

 

 
66,064

 
(3,755
)
 
(31,968
)
 
30,341

 
 
$
310,287

 
$

 
$
310,287

 
$
(3,755
)
 
$
(31,968
)
 
$
274,564

 
March 31, 2015
 
December 31, 2014
(In thousands)
Carrying
value
 
Estimated
fair value
 
Level
 
Carrying
value
 
Estimated
fair value
 
Level
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
HTM investment securities
$
590,950

 
$
602,355

 
3
 
$
647,252

 
$
677,196

 
3
Loans and leases (including loans held for sale), net of allowance
39,689,047

 
39,573,365

 
3
 
39,591,499

 
39,426,498

 
3
Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Time deposits
2,344,818

 
2,349,454

 
2
 
2,406,924

 
2,408,550

 
2
Foreign deposits
382,985

 
382,873

 
2
 
328,391

 
328,447

 
2
Long-term debt (less fair value hedges)
1,088,285

 
1,149,869

 
2
 
1,090,778

 
1,159,287

 
2