Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2011

Fair Value Measurements

Summary of Assets And Liabilities Measured At Fair Value on A Recurring Basis

			Fair Value Measurements Using
(In thousands)	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2011
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	360,102	$	352,597	$	7,505	$	—
Government-sponsored enterprise obligations	264,550		—		264,550		—
State and municipal obligations	1,259,384		—		1,119,660		139,724
Agency mortgage-backed securities	4,295,194		—		4,295,194		—
Non-agency mortgage-backed securities	353,229		—		353,229		—
Other asset-backed securities	2,537,251		—		2,537,251		—
Other debt securities	167,633		—		167,633		—
Equity securities	40,723		26,731		13,992		—
Trading securities	9,695		—		9,695		—
Private equity investments	63,048		—		—		63,048
Derivatives *	22,277		—		21,949		328
Assets held in trust	4,168		4,168		—		—
Total assets	$	9,377,254	$	383,496	$	8,790,658	$	203,100
Liabilities:
Derivatives *	$	23,484	$	—	$	23,252	$	232
Total liabilities	$	23,484	$	—	$	23,252	$	232
December 31, 2010
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	455,537	$	448,087	$	7,450	$	—
Government-sponsored enterprise obligations	201,895		—		201,895		—
State and municipal obligations	1,119,485		—		969,396		150,089
Agency mortgage-backed securities	2,491,199		—		2,491,199		—
Non-agency mortgage-backed securities	455,790		—		455,790		—
Other asset-backed securities	2,354,260		—		2,354,260		—
Other debt securities	176,964		—		176,964		—
Equity securities	39,173		22,900		16,273		—
Trading securities	11,710		—		11,710		—
Private equity investments	53,860		—		—		53,860
Derivatives *	18,823		—		18,288		535
Assets held in trust	4,213		4,213		—		—
Total assets	$	7,382,909	$	475,200	$	6,703,225	$	204,484
Liabilities:
Derivatives *	$	19,584	$	—	$	19,401	$	183
Total liabilities	$	19,584	$	—	$	19,401	$	183

* The fair value of each class of derivative is shown in Note 10.

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

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
(In thousands)	State and Municipal Obligations			Private Equity Investments			Derivatives			Total
For the three months ended September 30, 2011
Balance June 30, 2011	$	141,940		$	61,173		$	(288	)	$	202,825
Total gains or losses (realized/unrealized):
Included in earnings	—			2,921			384			3,305
Included in other comprehensive income	(1,028		)	—			—			(1,028		)
Investment securities called	(1,300		)	—			—			(1,300		)
Discount accretion	112			—			—			112
Purchase of private equity securities	—			75			—			75
Sale / paydown of private equity securities	—			(1,121		)	—			(1,121		)
Balance September 30, 2011	$	139,724		$	63,048		$	96		$	202,868
Total gains or losses for the three months included in earnings attributable to the
change in unrealized gains or losses relating to assets still held at September 30, 2011	$	—		$	2,921		$	237		$	3,158
For the nine months ended September 30, 2011
Balance January 1, 2011	$	150,089		$	53,860		$	352		$	204,301
Total gains or losses (realized/unrealized):
Included in earnings	—			6,951			16			6,967
Included in other comprehensive income	(2,639		)	—			—			(2,639		)
Investment securities called	(8,243		)	—			—			(8,243		)
Discount accretion	517			—			—			517
Purchase of private equity securities	—			3,314			—			3,314
Sale / paydown of private equity securities	—			(1,121		)	—			(1,121		)
Capitalized interest/dividends	—			44			—			44
Purchase of risk participation agreement	—			—			79			79
Sale of risk participation agreement	—			—			(351		)	(351		)
Balance September 30, 2011	$	139,724		$	63,048		$	96		$	202,868
Total gains or losses for the nine months included in earnings attributable to the
change in unrealized gains or losses relating to assets still held at September 30, 2011	$	—		$	7,026		$	223		$	7,249
For the three months ended September 30, 2010
Balance June 30, 2010	$	152,143		$	46,257		$	(110	)	$	198,290
Total gains or losses (realized/unrealized):
Included in earnings	—			1,352			187			1,539
Included in other comprehensive income	3,269			—			—			3,269
Investment securities called	(1,450		)	—			—			(1,450		)
Discount accretion	137			—			—			137
Purchase of private equity securities	—			3,453			—			3,453
Sale / paydown of private equity securities	—			(271		)	—			(271		)
Capitalized interest/dividends	—			6			—			6
Sales of risk participation agreements	—			—			(21		)	(21		)
Balance September 30, 2010	$	154,099		$	50,797		$	56		$	204,952
Total gains or losses for the three months included in earnings attributable to the
change in unrealized gains or losses relating to assets still held at September 30, 2010	$	—		$	1,352		$	292		$	1,644
For the nine months ended September 30, 2010
Balance January 1, 2010	$	167,836		$	44,827		$	108		$	212,771
Total gains or losses (realized/unrealized):
Included in earnings	—			(1,289		)	79			(1,210		)
Included in other comprehensive income	(10,138		)	—			—			(10,138		)
Investment securities called	(4,000		)	—			—			(4,000		)
Discount accretion	401			—			—			401
Purchase of private equity securities	—			7,357			—			7,357
Sale / paydown of private equity securities	—			(271		)	—			(271		)
Capitalized interest/dividends	—			173			—			173
Sales of risk participation agreements	—			—			(131		)	(131		)
Balance September 30, 2010	$	154,099		$	50,797		$	56		$	204,952
Total gains or losses for the nine months included in earnings attributable to the
change in unrealized gains or losses relating to assets still held at September 30, 2010	$	—		$	(1,089	)	$	309		$	(780	)

Summary of Gains And Losses on Level 3 Assets and Liabilities

(In thousands)	Loan Fees and Sales			Other Non-Interest Income			Investment Securities Gains (Losses), Net			Total
For the three months ended September 30, 2011
Total gains or losses included in earnings	$	160		$	224		$	2,921		$	3,305
Change in unrealized gains or losses relating to assets still held at September 30, 2011	$	239		$	(2	)	$	2,921		$	3,158
For the nine months ended September 30, 2011
Total gains or losses included in earnings	$	(243	)	$	259		$	6,951		$	6,967
Change in unrealized gains or losses relating to assets still held at September 30, 2011	$	239		$	(16	)	$	7,026		$	7,249
For the three months ended September 30, 2010
Total gains or losses included in earnings	$	194		$	(7	)	$	1,352		$	1,539
Change in unrealized gains or losses relating to assets still held at September 30, 2010	$	281		$	11		$	1,352		$	1,644
For the nine months ended September 30, 2010
Total gains or losses included in earnings	$	73		$	6		$	(1,289	)	$	(1,210	)
Change in unrealized gains or losses relating to assets still held at September 30, 2010	$	281		$	28		$	(1,089	)	$	(780	)

Summary of Adjustments to Fair Value And Related Level Of Valuation Assumptions

			Fair Value Measurements Using
(In thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses) Recognized During the Nine Months Ended Sept. 30
September 30, 2011
Loans	$	44,937	$	—	$	—	$	44,937	$	(11,859	)
Mortgage servicing rights	896		—		—		896		(166		)
Foreclosed assets	2,778		—		—		2,778		(592		)
Long-lived assets	11,864		—		—		11,864		(3,168		)
September 30, 2010
Loans	$	48,858	$	—	$	—	$	48,858	$	(12,681	)
Private equity investments	980		—		—		980		(100		)
Mortgage servicing rights	962		—		—		962		(434		)
Foreclosed assets	8,423		—		—		8,423		(3,016		)
Long-lived assets	4,300		—		—		4,300		(969		)