Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

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

The table below presents the March 31, 2014 and December 31, 2013 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first three months of 2014 or the year ended December 31, 2013.



			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)
March 31, 2014
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	507,638	$	507,638	$	—	$	—
Government-sponsored enterprise obligations	796,773		—		796,773		—
State and municipal obligations	1,622,648		—		1,495,669		126,979
Agency mortgage-backed securities	2,892,499		—		2,892,499		—
Non-agency mortgage-backed securities	298,633		—		298,633		—
Asset-backed securities	2,816,012		—		2,816,012		—
Other debt securities	136,853		—		136,853		—
Equity securities	44,060		25,007		19,053		—
Trading securities	15,740		—		15,740		—
Private equity investments	76,446		—		—		76,446
Derivatives *	11,964		—		11,960		4
Assets held in trust	8,285		8,285		—		—
Total assets	$	9,227,551	$	540,930	$	8,483,192	$	203,429
Liabilities:
Derivatives *	$	12,412	$	—	$	12,341	$	71
Total liabilities	$	12,412	$	—	$	12,341	$	71
December 31, 2013
Assets:
Available for sale securities:
U.S. government and federal agency obligations	$	505,696	$	505,696	$	—	$	—
Government-sponsored enterprise obligations	741,766		—		741,766		—
State and municipal obligations	1,619,171		—		1,491,447		127,724
Agency mortgage-backed securities	2,772,338		—		2,772,338		—
Non-agency mortgage-backed securities	246,983		—		246,983		—
Asset-backed securities	2,844,071		—		2,844,071		—
Other debt securities	141,757		—		141,757		—
Equity securities	43,898		24,646		19,252		—
Trading securities	19,993		—		19,993		—
Private equity investments	56,612		—		—		56,612
Derivatives *	12,980		—		12,976		4
Assets held in trust	7,511		7,511		—		—
Total assets	$	9,012,776	$	537,853	$	8,290,583	$	184,340
Liabilities:
Derivatives *	$	13,329	$	—	$	13,260	$	69
Total liabilities	$	13,329	$	—	$	13,260	$	69

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

Assets held in an outside trust for the Company’s deferred compensation plan consist of investments in mutual funds. T

Summary Of Gains And Losses On Level 3 Assets And Liabilities

Gains and losses included in earnings for the Level 3 assets and liabilities in the previous table are reported in the following line items in the consolidated statements of income:



(In thousands)	Other Non-Interest Income		Investment Securities Gains (Losses), Net			Total
For the three months ended March 31, 2014
Total gains or losses included in earnings	$	105	$	16,794		$	16,899
Change in unrealized gains or losses relating to assets still held at March 31, 2014	$	105	$	16,794		$	16,899
For the three months ended March 31, 2013
Total gains or losses included in earnings	$	56	$	(1,775	)	$	(1,719	)
Change in unrealized gains or losses relating to assets still held at March 31, 2013	$	56	$	(1,775	)	$	(1,719	)

Summary Of Quantitative Information About Level 3 Fair Value Measurements

As shown above, the Company's significant Level 3 measurements which employ unobservable inputs that are readily quantifiable pertain to auction rate securities (ARS) held by the Bank and investments in portfolio concerns held by the Company's private equity subsidiaries. ARS are included in state and municipal securities and totaled $127.0 million at March 31, 2014, while private equity investments, included in non-marketable securities, totaled $76.4 million.

Information about these inputs is presented in the table and discussions below.



Quantitative Information about Level 3 Fair Value Measurements
	Valuation Technique	Unobservable Input	Range
Auction rate securities	Discounted cash flow	Estimated market recovery period	4	-	5 years
		Estimated market rate	1.8%	-	4.0%
Private equity investments	Market comparable companies	EBITDA multiple	4.0	-	5.5

Schedule Of Fair Value Disclosures Measured On Nonrecurring Basis [Table Text Block]

For assets measured at fair value on a nonrecurring basis during the first three months of 2014 and 2013, and still held as of March 31, 2014 and 2013, the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation inputs used to determine each adjustment, and the carrying value of the related individual assets or portfolios at March 31, 2014 and 2013.



			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 Three Months Ended March 31
March 31, 2014
Collateral dependent impaired loans	$	7,916	$	—	$	—	$	7,916	$	(1,875	)
Private equity investments	919		—		—		919		(1,081		)
Mortgage servicing rights	843		—		—		843		14
Foreclosed assets	1,220		—		—		1,220		(181		)
Long-lived assets	7,246		—		—		7,246		(1,408		)

March 31, 2013
Collateral dependent impaired loans	$	1,900	$	—	$	—	$	1,900	$	(659	)
Mortgage servicing rights	503		—		—		503		57