Fair Value (Tables)

9 Months Ended

Sep. 30, 2015

Schedule Of Assets And Liabilities Measured At Fair Value By Class On A Recurring Basis



(In thousands)	September 30, 2015
	Level 1		Level 2		Level 3		Total
ASSETS
Investment securities:
Available-for-sale:
U.S. Treasury, agencies and corporations	$	—	$	5,741,982	$	—	$	5,741,982
Municipal securities			213,398				213,398
Other debt securities			22,767				22,767
Money market mutual funds and other	18,509		3,355				21,864
	18,509		5,981,502		—		6,000,011
Trading account			73,521				73,521
Other noninterest-bearing investments:
Bank-owned life insurance			482,199				482,199
Private equity investments					120,195		120,195
Other assets:
Agriculture loan servicing and interest-only strips					13,161		13,161
Deferred compensation plan assets	83,703						83,703
Derivatives:
Interest rate related and other			18,270				18,270
Interest rate swaps for customers			66,805				66,805
Foreign currency exchange contracts	18,947						18,947
	18,947		85,075		—		104,022
	$	121,159	$	6,622,297	$	133,356	$	6,876,812
LIABILITIES
Securities sold, not yet purchased	$	29,566	$	—	$	—	$	29,566
Other liabilities:
Deferred compensation plan obligations	83,703						83,703
Derivatives:
Interest rate related and other			245				245
Interest rate swaps for customers			69,991				69,991
Foreign currency exchange contracts	16,372						16,372
	16,372		70,236		—		86,608
	$	129,641	$	70,236	$	—	$	199,877



(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
Money market 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 investments					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 September 30, 2015
(In thousands)	Municipal securities		Trust preferred – banks and insurance		Other		Private equity investments			Ag loan svcg and int-only strips			Derivatives and other liabilities

Balance at June 30, 2015	$	—	$	—	$	—	$	110,115		$	13,502		$	—
Net gains (losses) included in:
Statement of income:
Dividends and other investment income (loss)							(620		)
Equity securities gains, net							3,587
Other noninterest loss, net										(375		)
Purchases							8,184			234
Sales							(126		)
Redemptions and paydowns							(945		)	(200		)
Balance at September 30, 2015	$	—	$	—	$	—	$	120,195		$	13,161		$	—



	Level 3 Instruments
	Nine Months Ended September 30, 2015
(In thousands)	Municipal securities			Trust preferred – banks and insurance			Other			Private equity investments			Ag loan svcg and int-only strips			Derivatives and other liabilities

Balance at December 31, 2014	$	4,164		$	393,007		$	4,761		$	97,649		$	12,227		$	(13	)
Net gains (losses) included in:
Statement of income:
Accretion of purchase discount on securities available-for-sale	3			471
Dividends and other investment loss										(1,179		)
Equity securities gains, net										7,554
Fixed income securities losses, net	(344		)	(136,691		)	(606		)
Other noninterest income, net													1,112
Other noninterest expense																13
Other comprehensive income (loss)	687			141,547			(74		)
Fair value of HTM securities reclassified as AFS				57,308
Purchases										20,498			615
Sales	(2,651		)	(440,055		)	(4,081		)	(2,634		)
Redemptions and paydowns	(1,859		)	(15,587		)				(1,693		)	(793		)
Balance at September 30, 2015	$	—		$	—		$	—		$	120,195		$	13,161		$	—



	Level 3 Instruments
	Three Months Ended September 30, 2014
(In thousands)	Municipal securities			Trust preferred – banks and insurance			Trust preferred – REIT ¹		Auction rate			Other asset-backed			Private equity investments			Ag loan svcg and int-only strips			Derivatives and other liabilities

Balance at June 30, 2014	$	10,038		$	685,805		$	—	$	6,578		$	28		$	82,256		$	11,461		$	(132	)
Net gains (losses) included in:
Statement of income:
Accretion of purchase discount on securities available-for-sale	9			480					1
Dividends and other investment income															1,451
Equity securities losses, net															(3,684		)
Fixed income securities gains (losses), net	2			(13,956		)			37
Other noninterest income																		139
Other noninterest expense																					65
Other comprehensive income	4			45,521					48
Purchases															4,438			531
Sales				(155,869		)			(950		)	(1		)	(476		)
Redemptions and paydowns	(125		)	(36,511		)									(100		)	(213		)
Balance at September 30, 2014	$	9,928		$	525,470		$	—	$	5,714		$	27		$	83,885		$	11,918		$	(67	)



	Level 3 Instruments
	Nine Months Ended September 30, 2014
(In thousands)	Municipal securities			Trust preferred – banks and insurance			Trust preferred – REIT ¹			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	27			1,833						3
Dividends and other investment income (loss)																(1,296		)
Fair value and nonhedge derivative loss																						(7,894		)
Equity securities gains, net																(3,100		)
Fixed income securities gains, net	18			9,009			1,399			37			10,917
Other noninterest income																			665
Other noninterest expense																						174
Other comprehensive income (loss)	(178		)	146,861						25			(15		)
Purchases																12,898			2,987
Sales				(702,257		)	(24,395		)	(950		)	(36,670		)	(1,315		)
Redemptions and paydowns	(601		)	(99,603		)							(5		)	(5,712		)	(586		)	11,956
Transfers to Level 2				(69,193		)
Balance at September 30, 2014	$	9,928		$	525,470		$	—		$	5,714		$	27		$	83,885		$	11,918		$	(67	)


¹	Real Estate Investment Trust

Schedule Of Realized Gains (Losses) Using Level 3 Inputs



(In thousands)	Three Months Ended September 30,						Nine Months Ended September 30,
	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014

Dividends and other investment income	$	(6	)	$	—		$	(2	)	$	34
Fixed income securities gains (losses), net	—			(13,917		)	(137,641		)	21,380
Equity securities losses, net	(10,637		)	—			(11,311		)	—

Schedule Of Assets With Fair Value Changes On Nonrecurring Basis



(In thousands)	Fair value at September 30, 2015								Fair value at December 31, 2014
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
ASSETS
Private equity investments, carried at cost	$	—	$	—	$	2,974	$	2,974	$	—	$	—	$	23,454	$	23,454
Impaired loans	—		14,419		—		14,419		—		16,574		—		16,574
Other real estate owned	—		2,221		—		2,221		—		8,034		—		8,034
	$	—	$	16,640	$	2,974	$	19,614	$	—	$	24,608	$	23,454	$	48,062

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 September 30,						Nine Months Ended September 30,
(In thousands)	2015			2014			2015			2014
ASSETS
HTM securities adjusted for OTTI	$	—		$	—		$	—		$	(27	)
Private equity investments, carried at cost	(625		)	(339		)	(2,903		)	(471		)
Impaired loans	(7,666		)	(807		)	(12,682		)	(12,126		)
Other real estate owned	(565		)	(3,088		)	(1,883		)	(6,259		)
	$	(8,856	)	$	(4,234	)	$	(17,468	)	$	(18,883	)

Fair Value, by Balance Sheet Grouping [Table Text Block]



	September 30, 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	$	1,325,501	$	—	$	1,325,501	$	—		$	—		$	1,325,501
Derivatives (included in other assets)	103,119		—		103,119		(17,207		)	—			85,912
	$	1,428,620	$	—	$	1,428,620	$	(17,207	)	$	—		$	1,411,413
Liabilities:
Federal funds and other short-term borrowings	$	272,391	$	—	$	272,391	$	—		$	—		$	272,391
Derivatives (included in other liabilities)	86,363		—		86,363		(17,207		)	(37,109		)	32,047
	$	358,754	$	—	$	358,754	$	(17,207	)	$	(37,109	)	$	304,438



	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



	September 30, 2015					December 31, 2014
(In thousands)	Carrying value		Estimated fair value		Level	Carrying value		Estimated fair value		Level
Financial assets:
HTM investment securities	$	544,168	$	553,088	3	$	647,252	$	677,196	3
Loans and leases (including loans held for sale), net of allowance	39,655,805		39,414,672		3	39,591,499		39,426,498		3
Financial liabilities:
Time deposits	2,216,206		2,223,094		2	2,406,924		2,408,550		2
Foreign deposits	441,560		441,548		2	328,391		328,447		2
Long-term debt (less fair value hedges)	944,613		975,642		2	1,090,778		1,159,287		2