10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)
þ	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
	SECURITIES EXCHANGE ACT OF 1934

_________________________________________________________

For the quarterly period ended June 30, 2016

OR

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
	SECURITIES EXCHANGE ACT OF 1934

____________________________________________________________

For the transition period from           to          

Commission File No. 0-2989

	COMMERCE BANCSHARES, INC.
(Exact name of registrant as specified in its charter)

Missouri	43-0889454
(State of Incorporation)	(IRS Employer Identification No.)
1000 Walnut, Kansas City, MO	64106
(Address of principal executive offices)	(Zip Code)
(816) 234-2000
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes þ     No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes þ     No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer þ Accelerated filer o Non-accelerated filer o Smaller reporting company £

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes o     No þ

As of July 31, 2016, the registrant had outstanding 96,563,720 shares of its $5 par value common stock, registrant’s only class of common stock.

Commerce Bancshares, Inc. and Subsidiaries

Form 10-Q

			Page
INDEX
Part I	Financial Information
	Item 1.	Financial Statements
		Consolidated Balance Sheets as of June 30, 2016 (unaudited) and December 31, 2015	3
		Consolidated Statements of Income for the Three and Six Months Ended June 30, 2016 and 2015 (unaudited)	4
		Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2016 and 2015 (unaudited)	5
		Consolidated Statements of Changes in Equity for the Six Months Ended June 30, 2016 and 2015 (unaudited)	6
		Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2016 and 2015 (unaudited)	7
		Notes to Consolidated Financial Statements	8
	Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	36
	Item 3.	Quantitative and Qualitative Disclosures about Market Risk	59
	Item 4.	Controls and Procedures	60
Part II	Other Information
	Item 1.	Legal Proceedings	61
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	61
	Item 6.	Exhibits	61
Signatures			62
Index to Exhibits			63

2

PART I: FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

	June 30, 2016			December 31, 2015
	(Unaudited)
	(In thousands)
ASSETS
Loans	$	13,091,888		$	12,436,692
Allowance for loan losses	(153,832		)	(151,532		)
Net loans	12,938,056			12,285,160
Loans held for sale (including $7,094,000 of residential mortgage loans carried at fair value at June 30, 2016 and $4,981,000 at December 31, 2015)	33,254			7,607
Investment securities:
Available for sale ($583,208,000 pledged at June 30, 2016 and $568,257,000 at
December 31, 2015 to secure swap and repurchase agreements)	9,221,346			9,777,004
Trading	30,512			11,890
Non-marketable	111,931			112,786
Total investment securities	9,363,789			9,901,680
Federal funds sold and short-term securities purchased under agreements to resell	13,725			14,505
Long-term securities purchased under agreements to resell	825,000			875,000
Interest earning deposits with banks	183,223			23,803
Cash and due from banks	428,300			464,411
Land, buildings and equipment, net	342,237			352,581
Goodwill	138,921			138,921
Other intangible assets, net	6,561			6,669
Other assets	436,627			534,625
Total assets	$	24,709,693		$	24,604,962
LIABILITIES AND EQUITY
Deposits:
Non-interest bearing	$	6,906,265		$	7,146,398
Savings, interest checking and money market	10,978,734			10,834,746
Time open and C.D.'s of less than $100,000	749,160			785,191
Time open and C.D.'s of $100,000 and over	1,515,888			1,212,518
Total deposits	20,150,047			19,978,853
Federal funds purchased and securities sold under agreements to repurchase	1,632,272			1,963,552
Other borrowings	103,878			103,818
Other liabilities	296,675			191,321
Total liabilities	22,182,872			22,237,544
Commerce Bancshares, Inc. stockholders’ equity:
Preferred stock, $1 par value
Authorized 2,000,000 shares; issued 6,000 shares	144,784			144,784
Common stock, $5 par value
Authorized 120,000,000 shares;
issued 97,972,433 shares	489,862			489,862
Capital surplus	1,333,995			1,337,677
Retained earnings	470,558			383,313
Treasury stock of 1,244,063 shares at June 30, 2016
and 603,003 shares at December 31, 2015, at cost	(51,707		)	(26,116		)
Accumulated other comprehensive income	134,424			32,470
Total Commerce Bancshares, Inc. stockholders' equity	2,521,916			2,361,990
Non-controlling interest	4,905			5,428
Total equity	2,526,821			2,367,418
Total liabilities and equity	$	24,709,693		$	24,604,962

See accompanying notes to consolidated financial statements.

3

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF INCOME

	For the Three Months Ended June 30					For the Six Months Ended June 30
(In thousands, except per share data)	2016			2015		2016			2015
	(Unaudited)
INTEREST INCOME
Interest and fees on loans	$	121,151		$	113,467	$	240,484		$	224,753
Interest and fees on loans held for sale	692			39		827			60
Interest on investment securities	54,698			53,264		103,589			91,700
Interest on federal funds sold and short-term securities purchased under
agreements to resell	19			15		43			24
Interest on long-term securities purchased under agreements to resell	3,354			3,670		6,829			6,721
Interest on deposits with banks	151			122		421			301
Total interest income	180,065			170,577		352,193			323,559
INTEREST EXPENSE
Interest on deposits:
Savings, interest checking and money market	3,548			3,287		7,032			6,595
Time open and C.D.'s of less than $100,000	709			818		1,451			1,698
Time open and C.D.'s of $100,000 and over	2,347			1,504		4,333			2,914
Interest on federal funds purchased and securities sold under
agreements to repurchase	725			421		1,613			788
Interest on other borrowings	907			890		2,160			1,769
Total interest expense	8,236			6,920		16,589			13,764
Net interest income	171,829			163,657		335,604			309,795
Provision for loan losses	9,216			6,757		18,655			11,177
Net interest income after provision for loan losses	162,613			156,900		316,949			298,618
NON-INTEREST INCOME
Bank card transaction fees	45,065			45,672		89,535			87,971
Trust fees	31,464			30,531		61,834			60,117
Deposit account charges and other fees	21,328			19,637		42,019			38,136
Capital market fees	2,500			2,738		5,225			5,740
Consumer brokerage services	3,491			3,507		7,000			6,843
Loan fees and sales	3,196			2,183		5,706			4,272
Other	9,526			9,967		24,275			17,730
Total non-interest income	116,570			114,235		235,594			220,809
INVESTMENT SECURITIES GAINS (LOSSES), NET	(744		)	2,143		(1,739		)	8,178
NON-INTEREST EXPENSE
Salaries and employee benefits	104,808			99,655		211,667			197,729
Net occupancy	11,092			10,999		22,395			22,560
Equipment	4,781			4,679		9,415			9,382
Supplies and communication	5,693			5,226		12,522			10,807
Data processing and software	22,770			21,045		45,669			40,551
Marketing	4,389			4,307		8,202			8,225
Deposit insurance	3,143			3,019		6,308			6,020
Other	20,413			16,533		38,384			34,034
Total non-interest expense	177,089			165,463		354,562			329,308
Income before income taxes	101,350			107,815		196,242			198,297
Less income taxes	31,542			32,492		60,912			60,960
Net income	69,808			75,323		135,330			137,337
Less non-controlling interest expense (income)	(85		)	970		63			1,929
Net income attributable to Commerce Bancshares, Inc.	69,893			74,353		135,267			135,408
Less preferred stock dividends	2,250			2,250		4,500			4,500
Net income available to common shareholders	$	67,643		$	72,103	$	130,767		$	130,908
Net income per common share — basic	$	.70		$	.72	$	1.35		$	1.30
Net income per common share — diluted	$	.70		$	.72	$	1.35		$	1.30

See accompanying notes to consolidated financial statements.

4

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	For the Three Months Ended June 30						For the Six Months Ended June 30
(In thousands)	2016			2015			2016			2015
	(Unaudited)
Net income	$	69,808		$	75,323		$	135,330		$	137,337
Other comprehensive income (loss):
Net unrealized gains (losses) on securities for which a portion of an other-than-temporary impairment has been recorded in earnings	—			149			(398		)	21
Net unrealized gains (losses) on other securities	31,139			(43,483		)	101,634			(14,137		)
Pension loss amortization	356			406			718			812
Other comprehensive income (loss)	31,495			(42,928		)	101,954			(13,304		)
Comprehensive income	101,303			32,395			237,284			124,033
Less non-controlling interest expense (income)	(85		)	970			63			1,929
Comprehensive income attributable to Commerce Bancshares, Inc.	$	101,388		$	31,425		$	237,221		$	122,104

See accompanying notes to consolidated financial statements.

5

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

			Commerce Bancshares, Inc. Shareholders
(In thousands, except per share data)	Preferred Stock		Common Stock		Capital Surplus			Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Income (Loss)			Non-Controlling Interest			Total
	(Unaudited)
Balance January 1, 2016	$	144,784	$	489,862	$	1,337,677		$	383,313		$	(26,116	)	$	32,470		$	5,428		$	2,367,418
Net income								135,267									63			135,330
Other comprehensive income														101,954						101,954
Distributions to non-controlling interest																	(586		)	(586		)
Purchases of treasury stock											(37,462		)							(37,462		)
Issuance of stock under purchase and equity compensation plans					(11,873		)				11,871									(2		)
Excess tax benefit related to equity compensation plans					1,904															1,904
Stock-based compensation					6,287															6,287
Cash dividends on common stock ($.450 per share)								(43,522		)										(43,522		)
Cash dividends on preferred stock ($.750 per depositary share)								(4,500		)										(4,500		)
Balance June 30, 2016	$	144,784	$	489,862	$	1,333,995		$	470,558		$	(51,707	)	$	134,424		$	4,905		$	2,526,821
Balance January 1, 2015	$	144,784	$	484,155	$	1,229,075		$	426,648		$	(16,562	)	$	62,093		$	4,053		$	2,334,246
Net income								135,408									1,929			137,337
Other comprehensive income														(13,304		)				(13,304		)
Distributions to non-controlling interest																	(543		)	(543		)
Purchases of treasury stock											(3,575		)							(3,575		)
Accelerated share repurchase agreements					40,000						(140,000		)							(100,000		)
Issuance of stock under purchase and equity compensation plans					(14,682		)				16,572									1,890
Excess tax benefit related to equity compensation plans					1,662															1,662
Stock-based compensation					5,252															5,252
Cash dividends on common stock ($.429 per share)								(43,105		)										(43,105		)
Cash dividends on preferred stock ($.750 per depositary share)								(4,500		)										(4,500		)
Balance June 30, 2015	$	144,784	$	484,155	$	1,261,307		$	514,451		$	(143,565	)	$	48,789		$	5,439		$	2,315,360

See accompanying notes to consolidated financial statements.

6

Commerce Bancshares, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the Six Months Ended June 30
(In thousands)	2016				2015
	(Unaudited)
OPERATING ACTIVITIES:
Net income	$	135,330			$	137,337
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	18,655				11,177
Provision for depreciation and amortization	20,689				21,287
Amortization of investment security premiums, net	16,014				17,797
Investment securities (gains) losses, net (A)	1,739				(8,178		)
Net gains on sales of loans held for sale	(2,994		)		(1,234		)
Originations of loans held for sale	(70,880		)		(50,143		)
Proceeds from sales and repayments of loans held for sale	96,352				43,593
Net (increase) decrease in trading securities, excluding unsettled transactions	81,184				(1,310		)
Stock-based compensation	6,287				5,252
(Increase) decrease in interest receivable	60				(618		)
Increase (decrease) in interest payable	57				(201		)
Increase in income taxes payable	73				17,622
Excess tax benefit related to equity compensation plans	(1,904		)		(1,662		)
Other changes, net	(9,785		)		2,842
Net cash provided by operating activities	290,877				193,561
INVESTING ACTIVITIES:
Proceeds from sales of investment securities (A)	2,071				683,202
Proceeds from maturities/pay downs of investment securities (A)	1,109,707				1,323,921
Purchases of investment securities (A)	(414,154		)		(1,710,977		)
Net increase in loans	(721,274		)		(477,902		)
Repayments of long-term securities purchased under agreements to resell	50,000				—
Purchases of land, buildings and equipment	(13,649		)		(15,523		)
Sales of land, buildings and equipment	5,399				3,430
Net cash provided by (used in) investing activities	18,100				(193,849		)
FINANCING ACTIVITIES:
Net increase (decrease) in non-interest bearing, savings, interest checking and money market deposits	(38,985		)		34,287
Net increase (decrease) in time open and C.D.'s	267,339				(89,049		)
Net decrease in federal funds purchased and short-term securities sold under agreements to repurchase	(331,280		)		(196,475		)
Repayment of long-term borrowings	(840		)		(215		)
Additional long-term borrowings	900			—	—
Purchases of treasury stock	(37,462		)		(3,575		)
Accelerated share repurchase agreements	—				(100,000		)
Issuance of stock under equity compensation plans	(2		)		1,890
Excess tax benefit related to equity compensation plans	1,904				1,662
Cash dividends paid on common stock	(43,522		)		(43,105		)
Cash dividends paid on preferred stock	(4,500		)		(4,500		)
Net cash used in financing activities	(186,448		)		(399,080		)
Increase (decrease) in cash and cash equivalents	122,529				(399,368		)
Cash and cash equivalents at beginning of year	502,719				1,100,717
Cash and cash equivalents at June 30	$	625,248			$	701,349
(A) Available for sale and non-marketable securities
Income tax payments, net	$	59,886			$	42,077
Interest paid on deposits and borrowings	$	16,532			$	13,964
Loans transferred to foreclosed real estate	$	861			$	2,133
Loans transferred from held for investment to held for sale	$	50,360			$	—
Settlement of accelerated stock repurchase agreement and receipt of treasury stock	$	—			$	60,000

See accompanying notes to consolidated financial statements.

7

Commerce Bancshares, Inc. and Subsidiaries

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2016(Unaudited)

1. Principles of Consolidation and Presentation

The accompanying consolidated financial statements include the accounts of Commerce Bancshares, Inc. and all majority-owned subsidiaries (the Company). Most of the Company's operations are conducted by its subsidiary bank, Commerce Bank (the Bank). The consolidated financial statements in this report have not been audited by an independent registered public accounting firm, but in the opinion of management, all adjustments necessary to present fairly the financial position and the results of operations for the interim periods have been made. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications were made to 2015 data to conform to current year presentation. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. Management has evaluated subsequent events for potential recognition or disclosure. The results of operations for the three and six month periods ended June 30, 2016 are not necessarily indicative of results to be attained for the full year or any other interim period.

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's most recent Annual Report on Form 10-K, containing the latest audited consolidated financial statements and notes thereto.

2. Loans and Allowance for Loan Losses

Major classifications within the Company’s held for investment loan portfolio at June 30, 2016 and December 31, 2015 are as follows:

(In thousands)	June 30, 2016		December 31, 2015
Commercial:
Business	$	4,840,248	$	4,397,893
Real estate – construction and land	819,896		624,070
Real estate – business	2,399,271		2,355,544
Personal Banking:
Real estate – personal	1,927,340		1,915,953
Consumer	1,939,486		1,924,365
Revolving home equity	408,301		432,981
Consumer credit card	753,166		779,744
Overdrafts	4,180		6,142
Total loans	$	13,091,888	$	12,436,692

At June 30, 2016, loans of $3.7 billion were pledged at the Federal Home Loan Bank as collateral for borrowings and letters of credit obtained to secure public deposits. Additional loans of $1.6 billion were pledged at the Federal Reserve Bank as collateral for discount window borrowings.

8

Allowance for loan losses    

A summary of the activity in the allowance for loan losses during the three and six months ended June 30, 2016 and 2015, respectively, follows:

	For the Three Months Ended June 30							For the Six Months Ended June 30
(In thousands)	Commercial			Personal Banking		Total		Commercial			Personal Banking		Total
Balance at beginning of period	$	86,027		$	66,105	$	152,132	$	82,086		$	69,446	$	151,532
Provision	1,569			7,647		9,216		5,720			12,935		18,655
Deductions:
Loans charged off	661			11,984		12,645		2,174			23,761		25,935
Less recoveries on loans	2,263			2,866		5,129		3,566			6,014		9,580
Net loan charge-offs (recoveries)	(1,602		)	9,118		7,516		(1,392		)	17,747		16,355
Balance June 30, 2016	$	89,198		$	64,634	$	153,832	$	89,198		$	64,634	$	153,832
Balance at beginning of period	$	88,906		$	64,626	$	153,532	$	89,622		$	66,910	$	156,532
Provision	(2,361		)	9,118		6,757		(4,113		)	15,290		11,177
Deductions:
Loans charged off	1,408			11,297		12,705		2,132			22,873		25,005
Less recoveries on loans	1,192			2,756		3,948		2,952			5,876		8,828
Net loan charge-offs (recoveries)	216			8,541		8,757		(820		)	16,997		16,177
Balance June 30, 2015	$	86,329		$	65,203	$	151,532	$	86,329		$	65,203	$	151,532

The following table shows the balance in the allowance for loan losses and the related loan balance at June 30, 2016 and December 31, 2015, disaggregated on the basis of impairment methodology. Impaired loans evaluated under ASC 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans discussed below, which are deemed to have similar risk characteristics and are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.

	Impaired Loans				All Other Loans
(In thousands)	Allowance for Loan Losses		Loans Outstanding		Allowance for Loan Losses		Loans Outstanding
June 30, 2016
Commercial	$	1,571	$	49,695	$	87,627	$	8,009,720
Personal Banking	1,333		21,498		63,301		5,010,975
Total	$	2,904	$	71,193	$	150,928	$	13,020,695
December 31, 2015
Commercial	$	1,927	$	43,027	$	80,159	$	7,334,480
Personal Banking	1,557		22,287		67,889		5,036,898
Total	$	3,484	$	65,314	$	148,048	$	12,371,378

Impaired loans

The table below shows the Company’s investment in impaired loans at June 30, 2016 and December 31, 2015. These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section on page 14.

(In thousands)	June 30, 2016		Dec. 31, 2015
Non-accrual loans	$	24,524	$	26,575
Restructured loans (accruing)	46,669		38,739
Total impaired loans	$	71,193	$	65,314

9

The following table provides additional information about impaired loans held by the Company at June 30, 2016 and December 31, 2015, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
June 30, 2016
With no related allowance recorded:
Business	$	11,777	$	15,217	$	—
Real estate – construction and land	2,160		3,462		—
Real estate – business	3,072		3,261		—
Real estate – personal	352		373		—
	$	17,361	$	22,313	$	—
With an allowance recorded:
Business	$	24,905	$	25,639	$	1,059
Real estate – construction and land	160		162		7
Real estate – business	7,621		9,145		505
Real estate – personal	7,419		10,310		694
Consumer	5,596		5,596		68
Revolving home equity	400		447		21
Consumer credit card	7,731		7,731		550
	$	53,832	$	59,030	$	2,904
Total	$	71,193	$	81,343	$	2,904
December 31, 2015
With no related allowance recorded:
Business	$	9,330	$	11,777	$	—
Real estate – construction and land	2,961		8,956		—
Real estate – business	4,793		6,264		—
Real estate – personal	373		373		—
	$	17,457	$	27,370	$	—
With an allowance recorded:
Business	$	18,227	$	20,031	$	1,119
Real estate – construction and land	1,227		2,804		63
Real estate – business	6,489		9,008		745
Real estate – personal	7,667		10,530		831
Consumer	5,599		5,599		63
Revolving home equity	704		852		67
Consumer credit card	7,944		7,944		596
	$	47,857	$	56,768	$	3,484
Total	$	65,314	$	84,138	$	3,484

10

Total average impaired loans for the three and six month periods ended June 30, 2016 and 2015, respectively, are shown in the table below.

(In thousands)	Commercial		Personal Banking		Total
Average Impaired Loans:
For the three months ended June 30, 2016
Non-accrual loans	$	22,098	$	4,461	$	26,559
Restructured loans (accruing)	28,775		17,297		46,072
Total	$	50,873	$	21,758	$	72,631
For the six months ended June 30, 2016
Non-accrual loans	$	21,551	$	4,542	$	26,093
Restructured loans (accruing)	27,977		17,499		45,476
Total	$	49,528	$	22,041	$	71,569
For the three months ended June 30, 2015
Non-accrual loans	$	25,063	$	5,948	$	31,011
Restructured loans (accruing)	14,254		18,968		33,222
Total	$	39,317	$	24,916	$	64,233
For the six months ended June 30, 2015
Non-accrual loans	$	28,155	$	6,102	$	34,257
Restructured loans (accruing)	18,245		19,176		37,421
Total	$	46,400	$	25,278	$	71,678

The table below shows interest income recognized during the three and six month periods ended June 30, 2016 and 2015, respectively, for impaired loans held at the end of each respective period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section on page 14.

	For the Three Months Ended June 30				For the Six Months Ended June 30
(In thousands)	2016		2015		2016		2015
Interest income recognized on impaired loans:
Business	$	236	$	42	$	472	$	84
Real estate – construction and land	3		42		5		84
Real estate – business	56		15		112		30
Real estate – personal	42		48		84		96
Consumer	89		85		177		169
Revolving home equity	4		6		7		11
Consumer credit card	159		179		318		357
Total	$	589	$	417	$	1,175	$	831

11

Delinquent and non-accrual loans

The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at June 30, 2016 and December 31, 2015.

(In thousands)	Current or Less Than 30 Days Past Due		30 – 89 Days Past Due		90 Days Past Due and Still Accruing		Non-accrual		Total
June 30, 2016
Commercial:
Business	$	4,815,328	$	11,924	$	280	$	12,716	$	4,840,248
Real estate – construction and land	815,890		1,836		—		2,170		819,896
Real estate – business	2,388,292		3,743		2,000		5,236		2,399,271
Personal Banking:
Real estate – personal	1,913,469		7,083		2,495		4,293		1,927,340
Consumer	1,919,044		17,896		2,546		—		1,939,486
Revolving home equity	403,831		2,993		1,368		109		408,301
Consumer credit card	737,946		8,017		7,203		—		753,166
Overdrafts	3,917		263		—		—		4,180
Total	$	12,997,717	$	53,755	$	15,892	$	24,524	$	13,091,888
December 31, 2015
Commercial:
Business	$	4,384,149	$	2,306	$	564	$	10,874	$	4,397,893
Real estate – construction and land	617,838		3,142		—		3,090		624,070
Real estate – business	2,340,919		6,762		—		7,863		2,355,544
Personal Banking:
Real estate – personal	1,901,330		7,117		3,081		4,425		1,915,953
Consumer	1,903,389		18,273		2,703		—		1,924,365
Revolving home equity	427,998		2,641		2,019		323		432,981
Consumer credit card	762,750		8,894		8,100		—		779,744
Overdrafts	5,834		308		—		—		6,142
Total	$	12,344,207	$	49,443	$	16,467	$	26,575	$	12,436,692

Credit quality

The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is applied to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.

12

Commercial Loans
(In thousands)	Business		Real  Estate-Construction		Real Estate- Business		Total
June 30, 2016
Pass	$	4,702,346	$	808,815	$	2,318,106	$	7,829,267
Special mention	66,786		8,561		24,770		100,117
Substandard	58,400		350		51,159		109,909
Non-accrual	12,716		2,170		5,236		20,122
Total	$	4,840,248	$	819,896	$	2,399,271	$	8,059,415
December 31, 2015
Pass	$	4,278,857	$	618,788	$	2,281,565	$	7,179,210
Special mention	49,302		1,033		15,009		65,344
Substandard	58,860		1,159		51,107		111,126
Non-accrual	10,874		3,090		7,863		21,827
Total	$	4,397,893	$	624,070	$	2,355,544	$	7,377,507

The credit quality of Personal Banking loans is monitored primarily on the basis of aging/delinquency, and this information is provided in the table in the above "Delinquent and non-accrual loans" section. In addition, FICO scores are obtained and updated on a quarterly basis for most of the loans in the Personal Banking portfolio. This is a published credit score designed to measure the risk of default by taking into account various factors from a borrower's financial history. The Bank normally obtains a FICO score at the loan's origination and renewal dates, and updates are obtained on a quarterly basis. Excluded from the table below are certain Personal Banking loans for which FICO scores are not obtained because they generally pertain to commercial customer activities and are often underwritten with other collateral considerations. At June 30, 2016, these were comprised of $259.7 million in personal real estate loans, or 5.2% of the Personal Banking portfolio, compared to $257.8 million at December 31, 2015. For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at June 30, 2016 and December 31, 2015 by FICO score.

Personal Banking Loans
	% of Loan Category
	Real Estate - Personal		Consumer		Revolving Home Equity		Consumer Credit Card
June 30, 2016
FICO score:
Under 600	1.5	%	4.3	%	1.3	%	4.0	%
600 - 659	2.8		8.9		3.9		11.8
660 - 719	9.6		21.6		13.4		31.4
720 - 779	24.4		26.2		28.4		28.0
780 and over	61.7		39.0		53.0		24.8
Total	100.0	%	100.0	%	100.0	%	100.0	%
December 31, 2015
FICO score:
Under 600	1.5	%	4.5	%	1.5	%	3.9	%
600 - 659	3.0		9.7		3.9		12.0
660 - 719	9.1		21.8		13.6		31.7
720 - 779	25.0		26.4		28.4		27.9
780 and over	61.4		37.6		52.6		24.5
Total	100.0	%	100.0	%	100.0	%	100.0	%

13

Troubled debt restructurings

As mentioned previously, the Company's impaired loans include loans which have been classified as troubled debt restructurings. Total restructured loans amounted to $61.5 million at June 30, 2016. Restructured loans are those extended to borrowers who are experiencing financial difficulty and who have been granted a concession. Restructured loans are placed on non-accrual status if the Company does not believe it probable that amounts due under the contractual terms will be collected, and those non-accrual loans totaled $14.8 million at June 30, 2016. Other performing restructured loans totaled $46.7 million at June 30, 2016. These include certain business, construction and business real estate loans classified as substandard. Upon maturity, the loans renewed at interest rates judged not to be market rates for new debt with similar risk and as a result the loans were classified as troubled debt restructurings. These commercial loans totaled $30.3 million at June 30, 2016. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. Troubled debt restructurings also include certain credit card loans under various debt management and assistance programs, which totaled $7.7 million at June 30, 2016. Modifications to credit card loans generally involve removing the available line of credit, placing loans on amortizing status, and lowering the contractual interest rate. The Company has classified additional loans as troubled debt restructurings because they were not reaffirmed by the borrower in bankruptcy proceedings. At June 30, 2016, these loans totaled $8.3 million in personal real estate, revolving home equity, and consumer loans. Interest on these loans is being recognized on an accrual basis, as the borrowers are continuing to make payments under the terms of the loan agreements.

The following table shows the outstanding balances of loans classified as troubled debt restructurings at June 30, 2016, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.

(In thousands)	June 30, 2016		Balance 90 days past due at any time during previous 12 months
Commercial:
Business	$	35,833	$	—
Real estate - construction and land	1,736		—
Real estate - business	5,457		—
Personal Banking:
Real estate - personal	4,823		683
Consumer	5,619		57
Revolving home equity	291		33
Consumer credit card	7,731		504
Total restructured loans	$	61,490	$	1,277

For those loans on non-accrual status also classified as restructured, the modification did not create any further financial effect on the Company as those loans were already recorded at net realizable value. For those performing commercial loans classified as restructured, there were no concessions involving forgiveness of principal or interest and, therefore, there was no financial impact to the Company as a result of modification to these loans. No financial impact resulted from those performing loans where the debt was not reaffirmed in bankruptcy, as no changes to loan terms occurred in that process. The effects of modifications to consumer credit card loans were estimated to decrease interest income by approximately $970 thousand on an annual, pre-tax basis, compared to amounts contractually owed.

The allowance for loan losses related to troubled debt restructurings on non-accrual status is determined by individual evaluation, including collateral adequacy, using the same process as loans on non-accrual status which are not classified as troubled debt restructurings. Those performing loans classified as troubled debt restructurings are accruing loans which management expects to collect under contractual terms. Performing commercial loans have had no other concessions granted other than being renewed at an interest rate judged not to be market. As such, they have similar risk characteristics as non-troubled debt commercial loans and are collectively evaluated based on internal risk rating, loan type, delinquency, historical experience and current economic factors. Performing personal banking loans classified as troubled debt restructurings resulted from the borrower not reaffirming the debt during bankruptcy and have had no other concession granted, other than the Bank's future limitations on collecting payment deficiencies or in pursuing foreclosure actions. As such, they have similar risk characteristics as non-troubled debt personal banking loans and are evaluated collectively based on loan type, delinquency, historical experience and current economic factors.

If a troubled debt restructuring defaults and is already on non-accrual status, the allowance for loan losses continues to be based on individual evaluation, using discounted expected cash flows or the fair value of collateral. If an accruing troubled debt

14

restructuring defaults, the loan's risk rating is downgraded to non-accrual status and the loan's related allowance for loan losses is determined based on individual evaluation, or if necessary, the loan is charged off and collection efforts begun.

The Company had commitments of $11.6 million at June 30, 2016 to lend additional funds to borrowers with restructured loans.

Loans held for sale

Beginning January 1, 2015, certain long-term fixed rate personal real estate loan originations have been designated as held for sale, and the Company has elected the fair value option for these loans. The election of the fair value option aligns the accounting for these loans with the related economic hedges discussed in Note 10. At June 30, 2016, the fair value of these loans was $7.1 million, and the unpaid principal balance was $6.8 million.

Beginning in the third quarter of 2015, the Company has designated certain student loan originations as held for sale. The borrowers are credit-worthy students who are attending colleges and universities. The loans are intended to be sold in the secondary market, and the Company maintains contracts with Sallie Mae to sell the loans at various times while the student is attending school or shortly after graduation. At June 30, 2016, the balance of these loans was $5.3 million. These loans are carried at lower of cost or fair value.

In March 2016, the Company designated certain loans secured by automobiles, totaling $50.4 million, as held for sale. This amount approximated nearly 5% of the total auto loan portfolio and was initiated in order to rebalance the auto loan portfolio in relation to the Company's other loan categories. The group of loans held for sale are representative of the overall auto loan portfolio. The loans are being marketed to other financial institutions such as regional banks and credit unions, and in June 2016, loans of $21.8 million were sold and a gain of $114 thousand was recorded, bringing the balance at June 30, 2016 to $20.8 million. These loans are carried at lower of cost or fair value.

At June 30, 2016, none of the loans held for sale were on non-accrual status, and $22 thousand were 90 days past due and still accruing. Interest income with respect to loans held for sale is accrued based on the principal amount outstanding and the loan's contractual interest rate. Gains and losses in fair value resulting from the application of the fair value option, or lower of cost or fair value accounting, are recognized in loan fees and sales in the consolidated statements of income.

Foreclosed real estate/repossessed assets

The Company’s holdings of foreclosed real estate totaled $1.6 million and $2.8 million at June 30, 2016 and December 31, 2015, respectively. Personal property acquired in repossession, generally autos and marine and recreational vehicles, totaled $2.8 million and $3.3 million at June 30, 2016 and December 31, 2015, respectively. Upon acquisition, these assets are recorded at fair value less estimated selling costs at the date of foreclosure, establishing a new cost basis. They are subsequently carried at the lower of this cost basis or fair value less estimated selling costs.

3. Investment Securities

Investment securities, at fair value, consisted of the following at June 30, 2016 and December 31, 2015.

(In thousands)	June 30, 2016		Dec. 31, 2015
Available for sale	$	9,221,346	$	9,777,004
Trading	30,512		11,890
Non-marketable	111,931		112,786
Total investment securities	$	9,363,789	$	9,901,680

Most of the Company’s investment securities are classified as available for sale, and this portfolio is discussed in more detail below. The available for sale and the trading portfolios are carried at fair value. Securities which are classified as non-marketable include Federal Home Loan Bank (FHLB) stock and Federal Reserve Bank stock held for debt and regulatory purposes, which totaled $46.9 million at June 30, 2016 and $46.8 million at December 31, 2015. Investment in Federal Reserve Bank stock is based on the capital structure of the investing bank, and investment in FHLB stock is tied to the level of borrowings from the FHLB. These holdings are carried at cost. Non-marketable securities also include private equity investments, which amounted to $64.7 million at June 30, 2016 and $65.6 million at December 31, 2015. In the absence of readily ascertainable market values, these securities are carried at estimated fair value.

15

A summary of the available for sale investment securities by maturity groupings as of June 30, 2016 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, GNMA and FDIC, in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral.

(In thousands)	Amortized Cost		Fair Value
U.S. government and federal agency obligations:
Within 1 year	$	59,365	$	59,898
After 1 but within 5 years	499,992		517,665
After 5 but within 10 years	105,802		109,977
After 10 years	35,642		33,379
Total U.S. government and federal agency obligations	700,801		720,919
Government-sponsored enterprise obligations:
Within 1 year	81,208		81,302
After 1 but within 5 years	452,204		459,978
After 5 but within 10 years	14,988		15,260
After 10 years	5,630		5,637
Total government-sponsored enterprise obligations	554,030		562,177
State and municipal obligations:
Within 1 year	135,577		136,305
After 1 but within 5 years	642,897		662,010
After 5 but within 10 years	923,727		971,348
After 10 years	61,917		64,198
Total state and municipal obligations	1,764,118		1,833,861
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,509,991		2,589,915
Non-agency mortgage-backed securities	814,917		831,616
Asset-backed securities	2,293,845		2,298,725
Total mortgage and asset-backed securities	5,618,753		5,720,256
Other debt securities:
Within 1 year	5,996		6,052
After 1 but within 5 years	88,771		90,755
After 5 but within 10 years	222,737		231,176
After 10 years	11,588		11,281
Total other debt securities	329,092		339,264
Equity securities	5,678		44,869
Total available for sale investment securities	$	8,972,472	$	9,221,346

Investments in U.S. government and federal agency obligations include U.S. Treasury inflation-protected securities, which totaled $400.5 million, at fair value, at June 30, 2016. Interest paid on these securities increases with inflation and decreases with deflation, as measured by the Consumer Price Index. Included in equity securities is common and preferred stock held by the holding company, Commerce Bancshares, Inc. (the Parent), with a fair value of $44.8 million at June 30, 2016.

16

For securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in accumulated other comprehensive income, by security type.

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2016
U.S. government and federal agency obligations	$	700,801	$	22,381	$	(2,263	)	$	720,919
Government-sponsored enterprise obligations	554,030		8,147		—			562,177
State and municipal obligations	1,764,118		70,435		(692		)	1,833,861
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,509,991		79,952		(28		)	2,589,915
Non-agency mortgage-backed securities	814,917		16,803		(104		)	831,616
Asset-backed securities	2,293,845		15,664		(10,784		)	2,298,725
Total mortgage and asset-backed securities	5,618,753		112,419		(10,916		)	5,720,256
Other debt securities	329,092		10,546		(374		)	339,264
Equity securities	5,678		39,191		—			44,869
Total	$	8,972,472	$	263,119	$	(14,245	)	$	9,221,346
December 31, 2015
U.S. government and federal agency obligations	$	729,846	$	5,051	$	(7,821	)	$	727,076
Government-sponsored enterprise obligations	794,912		2,657		(4,546		)	793,023
State and municipal obligations	1,706,635		37,061		(1,739		)	1,741,957
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,579,031		47,856		(8,606		)	2,618,281
Non-agency mortgage-backed securities	879,186		8,596		(7,819		)	879,963
Asset-backed securities	2,660,201		1,287		(17,107		)	2,644,381
Total mortgage and asset-backed securities	6,118,418		57,739		(33,532		)	6,142,625
Other debt securities	335,925		377		(4,982		)	331,320
Equity securities	5,678		35,325		—			41,003
Total	$	9,691,414	$	138,210	$	(52,620	)	$	9,777,004

The Company’s impairment policy requires a review of all securities for which fair value is less than amortized cost. Special emphasis and analysis is placed on securities whose credit rating has fallen below A3 (Moody's) or A- (Standard & Poor's), whose fair values have fallen more than 20% below purchase price for an extended period of time, or have been identified based on management’s judgment. These securities are placed on a watch list, and for all such securities, detailed cash flow models are prepared which use inputs specific to each security. Inputs to these models include factors such as cash flow received, contractual payments required, and various other information related to the underlying collateral (including current delinquencies), collateral loss severity rates (including loan to values), expected delinquency rates, credit support from other tranches, and prepayment speeds. Stress tests are performed at varying levels of delinquency rates, prepayment speeds and loss severities in order to gauge probable ranges of credit loss. At June 30, 2016, the fair value of securities on this watch list was $78.9 million compared to $95.8 million at December 31, 2015.

As of June 30, 2016, the Company had recorded other-than-temporary impairment (OTTI) on certain non-agency mortgage-backed securities, part of the watch list mentioned above, which had an aggregate fair value of $37.1 million. The cumulative credit-related portion of the impairment on these securities, which was recorded in earnings, totaled $14.4 million. The Company does not intend to sell these securities and believes it is not likely that it will be required to sell the securities before the recovery of their amortized cost.

The credit-related portion of the loss on these securities was based on the cash flows projected to be received over the estimated life of the securities, discounted to present value, and compared to the current amortized cost bases of the securities. Significant inputs to the cash flow models used to calculate the credit losses on these securities at June 30, 2016 included the following:

Significant Inputs	Range
Prepayment CPR	0%	-	25%
Projected cumulative default	17%	-	52%
Credit support	0%	-	27%
Loss severity	18%	-	63%

17

The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings on all available for sale debt securities.

	For the Six Months Ended June 30
(In thousands)	2016			2015
Cumulative OTTI credit losses at January 1	$	14,129		$	13,734
Credit losses on debt securities for which impairment was not previously recognized	—			76
Credit losses on debt securities for which impairment was previously recognized	270			407
Increase in expected cash flows that are recognized over remaining life of security	(37		)	(51		)
Cumulative OTTI credit losses at June 30	$	14,362		$	14,166

Securities with unrealized losses recorded in accumulated other comprehensive income are shown in the table below, along with the length of the impairment period.

	Less than 12 months				12 months or longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
June 30, 2016
U.S. government and federal agency obligations	$	—	$	—	$	33,379	$	2,263	$	33,379	$	2,263
State and municipal obligations	17,375		334		9,478		358		26,853		692
Mortgage and asset-backed securities:
Agency mortgage-backed securities	14,257		22		2,611		6		16,868		28
Non-agency mortgage-backed securities	3,790		2		57,411		102		61,201		104
Asset-backed securities	529,895		6,782		189,558		4,002		719,453		10,784
Total mortgage and asset-backed securities	547,942		6,806		249,580		4,110		797,522		10,916
Other debt securities	—		—		19,685		374		19,685		374
Total	$	565,317	$	7,140	$	312,122	$	7,105	$	877,439	$	14,245
December 31, 2015
U.S. government and federal agency obligations	$	491,998	$	3,098	$	31,012	$	4,723	$	523,010	$	7,821
Government-sponsored enterprise obligations	157,830		1,975		110,250		2,571		268,080		4,546
State and municipal obligations	66,998		544		31,120		1,195		98,118		1,739
Mortgage and asset-backed securities:
Agency mortgage-backed securities	530,035		2,989		291,902		5,617		821,937		8,606
Non-agency mortgage-backed securities	653,603		7,059		54,536		760		708,139		7,819
Asset-backed securities	2,207,922		12,492		223,311		4,615		2,431,233		17,107
Total mortgage and asset-backed securities	3,391,560		22,540		569,749		10,992		3,961,309		33,532
Other debt securities	244,452		3,687		25,218		1,295		269,670		4,982
Total	$	4,352,838	$	31,844	$	767,349	$	20,776	$	5,120,187	$	52,620

The total available for sale portfolio consisted of approximately 2,000 individual securities at June 30, 2016. The portfolio included 145 securities, having an aggregate fair value of $877.4 million, that were in an unrealized loss position at June 30, 2016, compared to 466 securities, with a fair value of $5.1 billion, at December 31, 2015. The total amount of unrealized losses on these securities decreased $38.4 million to $14.2 million at June 30, 2016, largely due to a lower rate environment. At June 30, 2016, the fair value of securities in an unrealized loss position for 12 months or longer totaled $312.1 million, or 3.4% of the total portfolio value.

The Company’s holdings of state and municipal obligations included gross unrealized losses of $692 thousand at June 30, 2016, most of which related to auction rate securities. This portfolio totaled $1.8 billion at fair value, or 19.9% of total available for sale securities. The average credit quality of the portfolio, excluding auction rate securities, is Aa2 as rated by Moody’s. The portfolio is diversified in order to reduce risk, and the Company has processes and procedures in place to monitor its holdings, identify signs of financial distress and, if necessary, exit its positions in a timely manner.

18

The following table presents proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings.

	For the Six Months Ended June 30
(In thousands)	2016			2015
Proceeds from sales of available for sale securities	$	—		$	675,870
Proceeds from sales of non-marketable securities	2,071			7,332
Total proceeds	$	2,071		$	683,202
Available for sale:
Gains realized on sales	$	—		$	2,813
Other-than-temporary impairment recognized on debt securities	(270		)	(483		)
Non-marketable:
Gains realized on sales	2,260			1,673
Fair value adjustments, net	(3,729		)	4,175
Investment securities gains (losses), net	$	(1,739	)	$	8,178

At June 30, 2016, securities totaling $4.6 billion in fair value were pledged to secure public fund deposits, securities sold under agreements to repurchase, trust funds, and borrowings at the Federal Reserve Bank and FHLB. Securities pledged under agreements pursuant to which the collateral may be sold or re-pledged by the secured parties approximated $583.2 million, while the remaining securities were pledged under agreements pursuant to which the secured parties may not sell or re-pledge the collateral. Except for obligations of various government-sponsored enterprises such as FNMA, FHLB and FHLMC, no investment in a single issuer exceeded 10% of stockholders’ equity.

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4. Goodwill and Other Intangible Assets

The following table presents information about the Company's intangible assets which have estimable useful lives.

	June 30, 2016										December 31, 2015
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount		Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount
Amortizable intangible assets:
Core deposit premium	$	31,270	$	(26,900	)	$	—		$	4,370	$	31,270	$	(26,239	)	$	—		$	5,031
Mortgage servicing rights	4,821		(2,599		)	(31		)	2,191		4,638		(2,971		)	(29		)	1,638
Total	$	36,091	$	(29,499	)	$	(31	)	$	6,561	$	35,908	$	(29,210	)	$	(29	)	$	6,669

Aggregate amortization expense on intangible assets was $399 thousand and $472 thousand for the three month periods ended June 30, 2016 and 2015, respectively, and $794 thousand and $945 thousand for the six month periods ended June 30, 2016 and 2015, respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of June 30, 2016. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.

(In thousands)
2016	$	1,527
2017	1,162
2018	892
2019	737
2020	602

Changes in the carrying amount of goodwill and net other intangible assets for the six month period endedJune 30, 2016 is as follows:

(In thousands)	Goodwill		Core Deposit Premium			Mortgage Servicing Rights
Balance January 1, 2016	$	138,921	$	5,031		$	1,638
Originations	—		—			688
Amortization	—		(661		)	(133		)
Impairment	—		—			(2		)
Balance June 30, 2016	$	138,921	$	4,370		$	2,191

Goodwill allocated to the Company’s operating segments at June 30, 2016 and December 31, 2015 is shown below.

(In thousands)
Consumer segment	$	70,721
Commercial segment	67,454
Wealth segment	746
Total goodwill	$	138,921

5. Guarantees

The Company, as a provider of financial services, routinely issues financial guarantees in the form of financial and performance standby letters of credit. Standby letters of credit are contingent commitments issued by the Company generally to guarantee the payment or performance obligation of a customer to a third party. While these represent a potential outlay by the Company, a significant amount of the commitments may expire without being drawn upon. The Company has recourse against the customer for any amount it is required to pay to a third party under a standby letter of credit. The letters of credit are subject to the same credit policies, underwriting standards and approval process as loans made by the Company. Most of the standby letters of credit are secured, and in the event of nonperformance by customers, the Company has rights to the underlying collateral, which could include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities.

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Upon issuance of standby letters of credit, the Company recognizes a liability for the fair value of the obligation undertaken, which is estimated to be equivalent to the amount of fees received from the customer over the life of the agreement. At June 30, 2016, that net liability was $2.6 million, which will be accreted into income over the remaining life of the respective commitments. The contractual amount of these letters of credit, which represents the maximum potential future payments guaranteed by the Company, was $359.0 million at June 30, 2016.

The Company periodically enters into credit risk participation agreements (RPAs) as a guarantor to other financial institutions, in order to mitigate those institutions’ credit risk associated with interest rate swaps with third parties. The RPA stipulates that, in the event of default by the third party on the interest rate swap, the Company will reimburse a portion of the loss borne by the financial institution. These interest rate swaps are normally collateralized (generally with real property, inventories and equipment) by the third party, which limits the credit risk associated with the Company’s RPAs. The third parties usually have other borrowing relationships with the Company. The Company monitors overall borrower collateral and at June 30, 2016, believes sufficient collateral is available to cover potential swap losses. The RPAs are carried at fair value throughout their term with all changes in fair value, including those due to a change in the third party’s creditworthiness, recorded in current earnings. The terms of the RPAs, which correspond to the terms of the underlying swaps, range from 3 to 11 years. At June 30, 2016, the fair value of the Company's guarantee liabilities for RPAs was $289 thousand, and the notional amount of the underlying swaps was $58.0 million. The maximum potential future payment guaranteed by the Company cannot be readily estimated but is dependent upon the fair value of the interest rate swaps at the time of default.

6. Pension

The amount of net pension cost is shown in the table below:

	For the Three Months Ended June 30						For the Six Months Ended June 30
(In thousands)	2016			2015			2016			2015
Service cost - benefits earned during the period	$	138		$	126		$	271		$	252
Interest cost on projected benefit obligation	1,005			1,216			1,972			2,432
Expected return on plan assets	(1,439		)	(1,523		)	(2,876		)	(3,046		)
Amortization of prior service cost	(67		)	—			(135		)	—
Amortization of unrecognized net loss	642			654			1,293			1,309
Net periodic pension cost	$	279		$	473		$	525		$	947

Substantially all benefits accrued under the Company’s defined benefit pension plan were frozen effective January 1, 2005, and the remaining benefits were frozen effective January 1, 2011. During the first six months of 2016, the Company made no funding contributions to its defined benefit pension plan and made minimal funding contributions to a supplemental executive retirement plan (the CERP), which carries no segregated assets. The Company has no plans to make any further contributions, other than those related to the CERP, during the remainder of 2016.

Effective January 1, 2016, the Company changed the method used to estimate the interest cost component of net periodic pension cost for its defined benefit pension plan. Prior to the change, the interest cost component was estimated by utilizing a single weighted average discount rate derived from the yield curve used to measure the projected benefit obligation. Under the new method, the interest cost component is estimated by applying the specific annual spot rates along the yield curve used in the determination of the projected benefit obligation to the relevant projected cash flows. This change provides a more precise measurement of the interest cost by improving the correlation between projected benefit cash flows and the corresponding spot yield curve rates. The Company accounted for this change prospectively as a change in accounting estimate. The change resulted in a decrease of approximately $851 thousand in the estimated annual net periodic pension cost for 2016.

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7. Common and Preferred Stock *

Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 12.

	For the Three Months Ended June 30				For the Six Months Ended June 30
(In thousands, except per share data)	2016		2015		2016		2015
Basic income per common share:
Net income available to common shareholders	$	67,643	$	72,103	$	130,767	$	130,908
Less income allocated to nonvested restricted stock	940		997		1,834		1,793
Net income allocated to common stock	$	66,703	$	71,106	$	128,933	$	129,115
Weighted average common shares outstanding	95,382		99,099		95,474		99,573
Basic income per common share	$	.70	$	.72	$	1.35	$	1.30
Diluted income per common share:
Net income available to common shareholders	$	67,643	$	72,103	$	130,767	$	130,908
Less income allocated to nonvested restricted stock	938		995		1,831		1,789
Net income allocated to common stock	$	66,705	$	71,108	$	128,936	$	129,119
Weighted average common shares outstanding	95,382		99,099		95,474		99,573
Net effect of the assumed exercise of stock-based awards - based on
the treasury stock method using the average market price for the respective periods	249		338		232		327
Weighted average diluted common shares outstanding	95,631		99,437		95,706		99,900
Diluted income per common share	$	.70	$	.72	$	1.35	$	1.30

Unexercised stock options and stock appreciation rights of 198 thousand and 377 thousand were excluded in the computation of diluted income per common share for the six month periods ended June 30, 2016 and 2015, respectively, because their inclusion would have been anti-dilutive.

The Company also has 6,000,000 depositary shares outstanding, representing 6,000 shares of 6.00% Series B Non-Cumulative Perpetual Preferred Stock, par value $1.00 per share, having an aggregate liquidation preference of $150.0 million (“Series B Preferred Stock”). Each depositary share has a liquidation preference of $25.00 per share. Dividends on the Series B Preferred Stock, if declared, accrue and are payable quarterly, in arrears, at a rate of 6.00%. The Series B Preferred Stock qualifies as Tier 1 capital for the purposes of the regulatory capital calculations. In the event that the Company does not declare and pay dividends on the Series B Preferred Stock for the most recent dividend period, the ability of the Company to declare or pay dividends on, purchase, redeem or otherwise acquire shares of its common stock or any securities of the Company that rank junior to the Series B Preferred Stock is subject to certain restrictions under the terms of the Series B Preferred Stock.

* All prior year share and per share amounts in this note have been restated for the 5% common stock dividend distributed in December 2015.

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8. Accumulated Other Comprehensive Income

The table below shows the activity and accumulated balances for components of other comprehensive income. The largest component is the unrealized holding gains and losses on available for sale securities. Unrealized gains and losses on debt securities for which an other-than-temporary impairment (OTTI) has been recorded in current earnings are shown separately below. The other component is the amortization from other comprehensive income of losses associated with pension benefits, which occurs as the losses are included in current net periodic pension cost.

	Unrealized Gains (Losses) on Securities (1)						Pension Loss (2)			Total Accumulated Other Comprehensive Income
(In thousands)	OTTI			Other
Balance January 1, 2016	$	3,316		$	49,750		$	(20,596	)	$	32,470
Other comprehensive income (loss) before reclassifications	(911		)	163,925			—			163,014
Amounts reclassified from accumulated other comprehensive income	270			—			1,158			1,428
Current period other comprehensive income (loss), before tax	(641		)	163,925			1,158			164,442
Income tax (expense) benefit	243			(62,291		)	(440		)	(62,488		)
Current period other comprehensive income (loss), net of tax	(398		)	101,634			718			101,954
Balance June 30, 2016	$	2,918		$	151,384		$	(19,878	)	$	134,424
Balance January 1, 2015	$	3,791		$	81,310		$	(23,008	)	$	62,093
Other comprehensive income (loss) before reclassifications	(449		)	(19,988		)	—			(20,437		)
Amounts reclassified from accumulated other comprehensive income	483			(2,813		)	1,309			(1,021		)
Current period other comprehensive income (loss), before tax	34			(22,801		)	1,309			(21,458		)
Income tax (expense) benefit	(13		)	8,664			(497		)	8,154
Current period other comprehensive income (loss), net of tax	21			(14,137		)	812			(13,304		)
Reclassification for securities for which impairment was not previously recognized	43			(43		)	—			—
Balance June 30, 2015	$	3,855		$	67,130		$	(22,196	)	$	48,789

(1) The pre-tax amounts reclassified from accumulated other comprehensive income are included in "investment securities gains (losses), net" in the consolidated statements of income.

(2) The pre-tax amounts reclassified from accumulated other comprehensive income are included in the computation of net periodic pension cost as "amortization of prior service cost" and "amortization of unrecognized net loss" (see Note 6), for inclusion in the consolidated statements of income.

9. Segments

The Company segregates financial information for use in assessing its performance and allocating resources among three operating segments: Consumer, Commercial and Wealth. The Consumer segment includes the consumer portion of the retail branch network (loans, deposits, and other personal banking services), indirect and other consumer financing, and consumer debit and credit bank cards.  The Commercial segment provides corporate lending (including the Small Business Banking product line within the branch network), leasing, international services, and business, government deposit, and related commercial cash management services, as well as merchant and commercial bank card products. The Commercial segment includes the Capital Markets Group, which sells fixed income securities and provides investment safekeeping and bond accounting services. The Wealth segment provides traditional trust and estate tax planning, advisory and discretionary investment management, and brokerage services, and includes the Private Banking product portfolio.

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The following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these change are reflected in prior year information presented below.

(In thousands)	Consumer			Commercial			Wealth			Segment Totals			Other/Elimination			Consolidated Totals
Three Months Ended June 30, 2016
Net interest income	$	67,221		$	77,104		$	10,947		$	155,272		$	16,557		$	171,829
Provision for loan losses	(8,775		)	1,468			(9		)	(7,316		)	(1,900		)	(9,216		)
Non-interest income	33,040			48,289			36,619			117,948			(1,378		)	116,570
Investment securities losses, net	—			—			—			—			(744		)	(744		)
Non-interest expense	(70,560		)	(70,779		)	(28,300		)	(169,639		)	(7,450		)	(177,089		)
Income before income taxes	$	20,926		$	56,082		$	19,257		$	96,265		$	5,085		$	101,350
Six Months Ended June 30, 2016
Net interest income	$	133,791		$	153,015		$	21,822		$	308,628		$	26,976		$	335,604
Provision for loan losses	(17,500		)	1,487			(115		)	(16,128		)	(2,527		)	(18,655		)
Non-interest income	62,936			99,408			71,021			233,365			2,229			235,594
Investment securities losses, net	—			—			—			—			(1,739		)	(1,739		)
Non-interest expense	(139,536		)	(140,536		)	(56,840		)	(336,912		)	(17,650		)	(354,562		)
Income before income taxes	$	39,691		$	113,374		$	35,888		$	188,953		$	7,289		$	196,242
Three Months Ended June 30, 2015
Net interest income	$	66,516		$	73,112		$	10,752		$	150,380		$	13,277		$	163,657
Provision for loan losses	(8,572		)	(201		)	1			(8,772		)	2,015			(6,757		)
Non-interest income	29,751			49,618			34,878			114,247			(12		)	114,235
Investment securities gains, net	—			—			—			—			2,143			2,143
Non-interest expense	(67,590		)	(65,614		)	(26,980		)	(160,184		)	(5,279		)	(165,463		)
Income before income taxes	$	20,105		$	56,915		$	18,651		$	95,671		$	12,144		$	107,815
Six Months Ended June 30, 2015
Net interest income	$	132,180		$	144,223		$	21,494		$	297,897		$	11,898		$	309,795
Provision for loan losses	(16,895		)	676			8			(16,211		)	5,034			(11,177		)
Non-interest income	56,363			97,199			68,537			222,099			(1,290		)	220,809
Investment securities gains, net	—			—			—			—			8,178			8,178
Non-interest expense	(134,282		)	(130,384		)	(54,250		)	(318,916		)	(10,392		)	(329,308		)
Income before income taxes	$	37,366		$	111,714		$	35,789		$	184,869		$	13,428		$	198,297

The information presented above was derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. This information is based on internal management accounting procedures and methods, which have been developed to reflect the underlying economics of the businesses. The methodologies are applied in connection with funds transfer pricing and assignment of overhead costs among segments. Funds transfer pricing was used in the determination of net interest income by assigning a standard cost (credit) for funds used (provided) by assets and liabilities based on their maturity, prepayment and/or repricing characteristics.

The segment activity, as shown above, includes both direct and allocated items. Amounts in the “Other/Elimination” column include activity not related to the segments, such as that relating to administrative functions, the investment securities portfolio, and the effect of certain expense allocations to the segments. The provision for loan losses in this category contains the difference between net loan charge-offs assigned directly to the segments and the recorded provision for loan loss expense. Included in this category’s net interest income are earnings of the investment portfolio, which are not allocated to a segment.

The performance measurement of the operating segments is based on the management structure of the Company and is not necessarily comparable with similar information for any other financial institution. The information is also not necessarily indicative of the segments' financial condition and results of operations if they were independent entities.

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10. Derivative Instruments

The notional amounts of the Company’s derivative instruments are shown in the table below. These contractual amounts, along with other terms of the derivative, are used to determine amounts to be exchanged between counterparties and are not a measure of loss exposure. The Company’s derivative instruments are accounted for as free-standing derivatives, and changes in their fair value are recorded in current earnings.

(In thousands)	June 30, 2016		December 31, 2015
Interest rate swaps	$	1,293,615	$	1,020,310
Interest rate caps	62,969		66,118
Credit risk participation agreements	64,510		62,456
Foreign exchange contracts	4,705		15,535
Mortgage loan commitments	18,420		8,605
Mortgage loan forward sale contracts	3,636		642
Forward TBA contracts	19,500		11,000
Total notional amount	$	1,467,355	$	1,184,666

The largest group of notional amounts relate to interest rate swap contracts sold to commercial customers who wish to modify their interest rate sensitivity. These swaps are offset by matching contracts purchased by the Company from other financial dealer institutions. Contracts with dealers that require central clearing are novated to a clearing agency who becomes the Company's counterparty. Because of the matching terms of the offsetting contracts, in addition to collateral provisions which mitigate the impact of non-performance risk, changes in fair value subsequent to initial recognition have a minimal effect on earnings.

Many of the Company’s interest rate swap contracts with large financial institutions contain contingent features relating to debt ratings or capitalization levels. Under these provisions, if the Company’s debt rating falls below investment grade or if the Company ceases to be “well-capitalized” under risk-based capital guidelines, certain counterparties can require immediate and ongoing collateralization on interest rate swaps in net liability positions or instant settlement of the contracts. The Company maintains debt ratings and capital well above these minimum requirements.

The banking customer counterparties are engaged in a variety of businesses, including real estate and building materials, manufacturing, education, communications, retail product distribution, and retirement communities. At June 30, 2016, the largest potential loss exposures were in the groups related to real estate, distribution, and retirement communities. If the counterparties in these groups failed to perform, and if the underlying collateral proved to be of no value, the Company estimates that it would incur losses of $16.9 million (real estate), $4.0 million (distribution), and $3.6 million (retirement communities) at June 30, 2016.

The Company also contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps through risk participation agreements. The Company’s risks and responsibilities as guarantor are further discussed in Note 5 on Guarantees. In addition, the Company enters into foreign exchange contracts, which are mainly comprised of contracts to purchase or deliver foreign currencies for customers at specific future dates.

In 2015, the Company initiated a program of secondary market sales of residential mortgage loans and has designated certain newly-originated residential mortgage loans as held for sale. Derivative instruments arising from this activity include mortgage loan commitments and forward loan sale commitments. Changes in the fair values of the loan commitments and funded loans prior to sale that are due to changes in interest rates are economically hedged with forward contracts to sell residential mortgage-backed securities in the to-be-announced (TBA) market. These forward TBA contracts are also considered to be derivatives and are settled in cash at the security settlement date.

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The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Derivative instruments with a positive fair value (asset derivatives) are reported in other assets in the consolidated balance sheets, while derivative instruments with a negative fair value (liability derivatives) are reported in other liabilities in the consolidated balance sheets. Information about the valuation methods used to determine fair value is provided in Note 13 on Fair Value Measurements.

	Asset Derivatives				Liability Derivatives
	June 30, 2016		Dec. 31, 2015		June 30, 2016			Dec. 31, 2015
(In thousands)	Fair Value				Fair Value
Derivative instruments:
Interest rate swaps	$	34,405	$	11,993	$	(34,415	)	$	(11,993	)
Interest rate caps	31		73		(31		)	(73		)
Credit risk participation agreements	1		1		(289		)	(195		)
Foreign exchange contracts	24		437		(9		)	(430		)
Mortgage loan commitments	790		263		—			—
Mortgage loan forward sale contracts	4		—		(4		)	—
Forward TBA contracts	—		4		(258		)	(38		)
Total	$	35,255	$	12,771	$	(35,006	)	$	(12,729	)

The effects of derivative instruments on the consolidated statements of income are shown in the table below.

	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended June 30						For the Six Months Ended June 30
(In thousands)		2016			2015			2016			2015
Derivative instruments:
Interest rate swaps	Other non-interest income	$	769		$	1,627		$	2,995		$	2,810
Credit risk participation agreements	Other non-interest income	(23		)	75			(58		)	48
Foreign exchange contracts	Other non-interest income	57			761			8			322
Mortgage loan commitments	Loan fees and sales	19			(63		)	527			345
Mortgage loan forward sale contracts	Loan fees and sales	1			4			—			1
Forward TBA contracts	Loan fees and sales	(397		)	390			(726		)	385
Total		$	426		$	2,794		$	2,746		$	3,911

The following table shows the extent to which assets and liabilities relating to derivative instruments have been offset in the consolidated balance sheets. It also provides information about these instruments which are subject to an enforceable master netting arrangement, irrespective of whether they are offset, and the extent to which the instruments could potentially be offset. Also shown is collateral received or pledged in the form of other financial instruments, which is generally cash or marketable securities. The collateral amounts in this table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus amounts of excess collateral are not shown. Most of the derivatives in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default.

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The Company is party to master netting arrangements with most of its swap derivative counterparties; however, the Company does not offset derivative assets and liabilities under these arrangements on its consolidated balance sheet. Collateral, usually in the form of marketable securities, is exchanged between the Company and dealer bank counterparties and is generally subject to thresholds and transfer minimums. By contract, it may be sold or re-pledged by the secured party until recalled at a subsequent valuation date by the pledging party. For those swap transactions requiring central clearing, the Company posts cash and securities to its clearing agency. At June 30, 2016, the Company had a net liability position with dealer bank and clearing agency counterparties totaling $34.4 million, and had posted securities with a fair value of $5.6 million and cash totaling $35.9 million. Collateral positions are valued daily, and adjustments to amounts received and pledged by the Company are made as appropriate to maintain proper collateralization for these transactions. Swap derivative transactions with customers are generally secured by rights to non-financial collateral, such as real and personal property, which is not shown in the table below.

							Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset			Collateral Received/Pledged			Net Amount
June 30, 2016
Assets:
Derivatives subject to master netting agreements	$	34,437	$	—	$	34,437	$	(31	)	$	—		$	34,406
Derivatives not subject to master netting agreements	818		—		818
Total derivatives	35,255		—		35,255
Liabilities:
Derivatives subject to master netting agreements	$	34,993	$	—	$	34,993	$	(31	)	$	(33,218	)	$	1,744
Derivatives not subject to master netting agreements	13		—		13
Total derivatives	35,006		—		35,006
December 31, 2015
Assets:
Derivatives subject to master netting agreements	$	12,071	$	—	$	12,071	$	(94	)	$	—		$	11,977
Derivatives not subject to master netting agreements	700		—		700
Total derivatives	12,771		—		12,771
Liabilities:
Derivatives subject to master netting agreements	$	12,299	$	—	$	12,299	$	(94	)	$	(10,927	)	$	1,278
Derivatives not subject to master netting agreements	430		—		430
Total derivatives	12,729		—		12,729

11. Resale and Repurchase Agreements

The following table shows the extent to which assets and liabilities relating to securities purchased under agreements to resell (resale agreements) and securities sold under agreements to repurchase (repurchase agreements) have been offset in the consolidated balance sheets, in addition to the extent to which they could potentially be offset. Also shown is collateral received or pledged, which consists of marketable securities. The collateral amounts in the table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus amounts of excess collateral are not shown. The agreements in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default.

Resale and repurchase agreements are agreements to purchase/sell securities subject to an obligation to resell/repurchase the same or similar securities. They are accounted for as collateralized financing transactions, not as sales and purchases of the securities portfolio. The securities collateral accepted or pledged in resale and repurchase agreements with other financial institutions also may be sold or re-pledged by the secured party, but is usually delivered to and held by third party trustees. The Company generally retains custody of securities pledged for repurchase agreements with customers.

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The Company is party to several agreements commonly known as collateral swaps. These agreements involve the exchange of collateral under simultaneous repurchase and resale agreements with the same financial institution counterparty. These repurchase and resale agreements have the same principal amounts, inception dates, and maturity dates and have been offset against each other in the consolidated balance sheets, as permitted under the netting provisions of ASC 210-20-45. The collateral swaps totaled $550.0 million at both June 30, 2016 and December 31, 2015. At June 30, 2016, the Company had posted collateral of $577.6 million in marketable securities, consisting of agency mortgage-backed bonds and treasuries, and had accepted $570.2 million in investment grade asset-backed, commercial mortgage-backed, and corporate bonds.

								Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset		Securities Collateral Received/Pledged			Net Amount
June 30, 2016
Total resale agreements, subject to master netting arrangements	$	1,375,000	$	(550,000	)	$	825,000	$	—	$	(825,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	2,150,462		(550,000		)	1,600,462		—		(1,600,462		)	—
December 31, 2015
Total resale agreements, subject to master netting arrangements	$	1,425,000	$	(550,000	)	$	875,000	$	—	$	(875,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	1,956,582		(550,000		)	1,406,582		—		(1,406,582		)	—

The table below shows the remaining contractual maturities of repurchase agreements outstanding at June 30, 2016 and December 31, 2015, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings.

	Remaining Contractual Maturity of the Agreements
(In thousands)	Overnight and continuous		Up to 90 days		Greater than 90 days		Total
June 30, 2016
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	235,265	$	—	$	300,000	$	535,265
Government-sponsored enterprise obligations	257,607		—		—		257,607
Agency mortgage-backed securities	377,702		2,337		250,000		630,039
Asset-backed securities	642,551		85,000		—		727,551
Total repurchase agreements, gross amount recognized	$	1,513,125	$	87,337	$	550,000	$	2,150,462
December 31, 2015
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	210,346	$	—	$	300,000	$	510,346
Government-sponsored enterprise obligations	356,970		—		24,096		381,066
Agency mortgage-backed securities	579,974		2,292		225,904		808,170
Asset-backed securities	212,000		45,000		—		257,000
Total repurchase agreements, gross amount recognized	$	1,359,290	$	47,292	$	550,000	$	1,956,582

28

12. Stock-Based Compensation

The Company issues stock-based compensation in the form of nonvested restricted stock and stock appreciation rights (SARs). Most of the awards are issued during the first quarter of each year. The stock-based compensation expense that has been charged against income was $2.9 million and $2.5 million in the three month periods ended June 30, 2016 and 2015, respectively, and $6.3 million and $5.3 million in the six months ended June 30, 2016 and 2015, respectively.

Nonvested stock awards generally vest in 4 to 7 years and contain restrictions as to transferability, sale, pledging, or assigning, among others, prior to the end of the vesting period. Dividend and voting rights are conferred upon grant. A summary of the status of the Company’s nonvested share awards as of June 30, 2016, and changes during the six month period then ended, is presented below.

	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2016	1,384,417		$34.38
Granted	209,347		41.81
Vested	(234,655	)	30.45
Forfeited	(23,840	)	36.36
Nonvested at June 30, 2016	1,335,269		$36.20

SARs are granted with exercise prices equal to the market price of the Company’s stock at the date of grant. SARs vest ratably over 4 years of continuous service and have 10-year contractual terms. All SARs must be settled in stock under provisions of the plan. In determining compensation cost, the Black-Scholes option-pricing model is used to estimate the fair value of SARs on date of grant. The current year per share average fair value and the model assumptions are shown in the table below.

Weighted per share average fair value at grant date		$7.49
Assumptions:
Dividend yield	2.2		%
Volatility	21.2		%
Risk-free interest rate	1.8		%
Expected term	7.2 years

A summary of SAR activity during the first six months of 2016 is presented below.

(Dollars in thousands, except per share data)	Rights		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2016	1,588,457		$33.74
Granted	251,982		41.35
Forfeited	(11,714	)	37.55
Expired	(859	)	37.59
Exercised	(347,100	)	31.48
Outstanding at June 30, 2016	1,480,766		$35.53	5.5 years	$	18,313

29

13. Fair Value Measurements

The Company uses fair value measurements to record fair value adjustments to certain financial and nonfinancial assets and liabilities and to determine fair value disclosures. Various financial instruments such as available for sale and trading securities, certain non-marketable securities relating to private equity activities, and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets and liabilities on a nonrecurring basis, such as mortgage servicing rights and certain other investment securities. These nonrecurring fair value adjustments typically involve lower of cost or fair value accounting or write-downs of individual assets.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, the Company uses various valuation techniques and assumptions when estimating fair value. For accounting disclosure purposes, a three-level valuation hierarchy of fair value measurements has been established. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:

• Level 1 – inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.

• Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and inputs that are observable for the assets or liabilities, either directly or indirectly (such as interest rates, yield curves, and prepayment speeds).

• Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value. These may be internally developed, using the Company’s best information and assumptions that a market participant would consider.

The valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis are described in the Fair Value of Financial Instruments note in the Company's 2015 Annual Report on Form 10-K. There have been no significant changes in these methodologies since then.

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Instruments Measured at Fair Value on a Recurring Basis

The table below presents the June 30, 2016 and December 31, 2015 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first six months of 2016 or the year ended December 31, 2015.

			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)
June 30, 2016
Assets:
Residential mortgage loans held for sale	$	7,094	$	—	$	7,094	$	—
Available for sale securities:
U.S. government and federal agency obligations	720,919		720,919		—		—
Government-sponsored enterprise obligations	562,177		—		562,177		—
State and municipal obligations	1,833,861		—		1,816,182		17,679
Agency mortgage-backed securities	2,589,915		—		2,589,915		—
Non-agency mortgage-backed securities	831,616		—		831,616		—
Asset-backed securities	2,298,725		—		2,298,725		—
Other debt securities	339,264		—		339,264		—
Equity securities	44,869		22,047		22,822		—
Trading securities	30,512		—		30,512		—
Private equity investments	62,813		—		—		62,813
Derivatives *	35,255		—		34,464		791
Assets held in trust for deferred compensation plan	9,701		9,701		—		—
Total assets	9,366,721		752,667		8,532,771		81,283
Liabilities:
Derivatives *	35,006		—		34,717		289
Liabilities held in trust for deferred compensation plan	9,701		9,701		—		—
Total liabilities	$	44,707	$	9,701	$	34,717	$	289
December 31, 2015
Assets:
Residential mortgage loans held for sale	$	4,981	$	—	$	4,981	$	—
Available for sale securities:
U.S. government and federal agency obligations	727,076		727,076		—		—
Government-sponsored enterprise obligations	793,023		—		793,023		—
State and municipal obligations	1,741,957		—		1,724,762		17,195
Agency mortgage-backed securities	2,618,281		—		2,618,281		—
Non-agency mortgage-backed securities	879,963		—		879,963		—
Asset-backed securities	2,644,381		—		2,644,381		—
Other debt securities	331,320		—		331,320		—
Equity securities	41,003		20,263		20,740		—
Trading securities	11,890		—		11,890		—
Private equity investments	63,032		—		—		63,032
Derivatives *	12,771		—		12,507		264
Assets held in trust for deferred compensation plan	9,278		9,278		—		—
Total assets	9,878,956		756,617		9,041,848		80,491
Liabilities:
Derivatives *	12,729		—		12,534		195
Liabilities held in trust for deferred compensation plan	9,278		9,278		—		—
Total liabilities	$	22,007	$	9,278	$	12,534	$	195

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

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The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:

	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 June 30, 2016
Balance March 31, 2016	$	17,209		$	67,432		$	506		$	85,147
Total gains or losses (realized/unrealized):
Included in earnings	—			(2,810		)	(4		)	(2,814		)
Included in other comprehensive income *	401			—			—			401
Discount accretion	69			—			—			69
Purchases of private equity investments	—			575			—			575
Sale/pay down of private equity investments	—			(2,398		)	—			(2,398		)
Capitalized interest/dividends	—			14			—			14
Balance June 30, 2016	$	17,679		$	62,813		$	502		$	80,994
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 June 30, 2016	$	—		$	(2,810	)	$	767		$	(2,043	)
For the six months ended June 30, 2016
Balance January 1, 2016	$	17,195		$	63,032		$	69		$	80,296
Total gains or losses (realized/unrealized):
Included in earnings	—			(3,724		)	469			(3,255		)
Included in other comprehensive income *	502			—			—			502
Investment securities called	(100		)	—			—			(100		)
Discount accretion	82			—			—			82
Purchases of private equity investments	—			5,841			—			5,841
Sale/pay down of private equity investments	—			(2,398		)	—			(2,398		)
Capitalized interest/dividends	—			62			—			62
Sale of risk participation agreement	—			—			(36		)	(36		)
Balance June 30, 2016	$	17,679		$	62,813		$	502		$	80,994
Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2016	$	—		$	(3,724	)	$	732		$	(2,992	)
For the three months ended June 30, 2015
Balance March 31, 2015	$	93,271		$	61,162		$	158		$	154,591
Total gains or losses (realized/unrealized):
Included in earnings	—			875			12			887
Included in other comprehensive income *	(352		)	—			—			(352		)
Discount accretion	21			—			—			21
Purchases of private equity investments	—			1,437			—			1,437
Sale/pay down of private equity investments	—			(4,800		)	—			(4,800		)
Capitalized interest/dividends	—			52			—			52
Balance June 30, 2015	$	92,940		$	58,726		$	170		$	151,836
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 June 30, 2015	$	—		$	875		$	420		$	1,295
For the six months ended June 30, 2015
Balance January 1, 2015	$	95,143		$	57,581		$	(223	)	$	152,501
Total gains or losses (realized/unrealized):
Included in earnings	—			4,175			393			4,568
Included in other comprehensive income *	(354		)	—			—			(354		)
Investment securities called	(2,000		)	—			—			(2,000		)
Discount accretion	151			—			—			151
Purchases of private equity investments	—			1,653			—			1,653
Sale/pay down of private equity investments	—			(4,800		)	—			(4,800		)
Capitalized interest/dividends	—			117			—			117
Balance June 30, 2015	$	92,940		$	58,726		$	170		$	151,836
Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2015	$	—		$	4,175		$	393		$	4,568

* Included in "net unrealized gains (losses) on other securities" in the consolidated statements of comprehensive income.

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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)	Loan Fees and Sales			Other Non-Interest Income			Investment Securities Gains (Losses), Net			Total
For the three months ended June 30, 2016
Total gains or losses included in earnings	$	19		$	(23	)	$	(2,810	)	$	(2,814	)
Change in unrealized gains or losses relating to assets still held at June 30, 2016	$	790		$	(23	)	$	(2,810	)	$	(2,043	)
For the six months ended June 30, 2016
Total gains or losses included in earnings	$	527		$	(58	)	$	(3,724	)	$	(3,255	)
Change in unrealized gains or losses relating to assets still held at June 30, 2016	$	790		$	(58	)	$	(3,724	)	$	(2,992	)
For the three months ended June 30, 2015
Total gains or losses included in earnings	$	(63	)	$	75		$	875		$	887
Change in unrealized gains or losses relating to assets still held at June 30, 2015	$	345		$	75		$	875		$	1,295
For the six months ended June 30, 2015
Total gains or losses included in earnings	$	345		$	48		$	4,175		$	4,568
Change in unrealized gains or losses relating to assets still held at June 30, 2015	$	345		$	48		$	4,175		$	4,568

Level 3 Inputs

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, investments in portfolio concerns held by the Company's private equity subsidiaries, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $17.7 million at June 30, 2016, while private equity investments, included in non-marketable securities, totaled $62.8 million.

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

Quantitative Information about Level 3 Fair Value Measurements						Weighted
	Valuation Technique	Unobservable Input	Range			Average
Auction rate securities	Discounted cash flow	Estimated market recovery period			5 years
		Estimated market rate	2.3%	-	3.4%
Private equity investments	Market comparable companies	EBITDA multiple	4.0	-	5.5
Mortgage loan commitments	Discounted cash flow	Probability of funding	59.4%	-	95.6%	78.9%
		Embedded servicing value	.9%	-	1.0%	1.0%

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Instruments Measured at Fair Value on a Nonrecurring Basis

For assets measured at fair value on a nonrecurring basis during the first six months of 2016 and 2015, and still held as of June 30, 2016 and 2015, 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 June 30, 2016 and 2015.

			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 Six Months Ended June 30, 2016
June 30, 2016
Collateral dependent impaired loans	$	5,001	$	—	$	—	$	5,001	$	(1,491	)
Mortgage servicing rights	2,191		—		—		2,191		(2		)
Foreclosed assets	28		—		—		28		(10		)
Long-lived assets	1,871		—		—		1,871		(956		)
June 30, 2015
Collateral dependent impaired loans	$	3,897	$	—	$	—	$	3,897	$	(1,340	)
Mortgage servicing rights	1,242		—		—		1,242		53
Foreclosed assets	608		—		—		608		(162		)
Long-lived assets	2,425		—		—		2,425		(1,667		)

14. Fair Value of Financial Instruments

The carrying amounts and estimated fair values of financial instruments held by the Company are set forth below. Fair value estimates are made at a specific point in time based on relevant market information. They do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for many of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, risk characteristics and economic conditions. These estimates are subjective, involve uncertainties, and cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

The methods and inputs used in the estimation of fair value for the financial instruments in the table below are discussed in the Fair Value Measurements and the Fair Value of Financial Instruments notes in the Company's 2015 Annual Report on Form 10-K. There have been no significant changes in these methods and inputs since December 31, 2015.

34

The estimated fair values of the Company’s financial instruments and the classification of their fair value measurement within the valuation hierarchy are as follows:

	Fair Value Hierarchy Level	June 30, 2016				December 31, 2015
(In thousands)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Loans:
Business	Level 3	$	4,840,248	$	4,902,110	$	4,397,893	$	4,421,237
Real estate - construction and land	Level 3	819,896		829,857		624,070		633,083
Real estate - business	Level 3	2,399,271		2,448,134		2,355,544		2,387,101
Real estate - personal	Level 3	1,927,340		1,976,674		1,915,953		1,940,863
Consumer	Level 3	1,939,486		1,943,943		1,924,365		1,916,747
Revolving home equity	Level 3	408,301		410,995		432,981		434,607
Consumer credit card	Level 3	753,166		769,991		779,744		793,428
Overdrafts	Level 3	4,180		4,180		6,142		6,142
Loans held for sale	Level 2	33,254		33,337		7,607		7,607
Investment securities:
Available for sale	Level 1	742,966		742,966		747,339		747,339
Available for sale	Level 2	8,460,701		8,460,701		9,012,470		9,012,470
Available for sale	Level 3	17,679		17,679		17,195		17,195
Trading	Level 2	30,512		30,512		11,890		11,890
Non-marketable	Level 3	111,931		111,931		112,786		112,786
Federal funds sold	Level 1	13,725		13,725		14,505		14,505
Securities purchased under agreements to resell	Level 3	825,000		833,366		875,000		879,546
Interest earning deposits with banks	Level 1	183,223		183,223		23,803		23,803
Cash and due from banks	Level 1	428,300		428,300		464,411		464,411
Derivative instruments	Level 2	34,464		34,464		12,507		12,507
Derivative instruments	Level 3	791		791		264		264
Assets held in trust for deferred compensation plan	Level 1	9,701		9,701		9,278		9,278
Financial Liabilities
Non-interest bearing deposits	Level 1	$	6,906,265	$	6,906,265	$	7,146,398	$	7,146,398
Savings, interest checking and money market deposits	Level 1	10,978,734		10,978,734		10,834,746		10,834,746
Time open and certificates of deposit	Level 3	2,265,048		2,264,742		1,997,709		1,993,521
Federal funds purchased	Level 1	31,810		31,810		556,970		556,970
Securities sold under agreements to repurchase	Level 3	1,600,462		1,600,553		1,406,582		1,406,670
Other borrowings	Level 3	103,878		107,967		103,818		108,542
Derivative instruments	Level 2	34,717		34,717		12,534		12,534
Derivative instruments	Level 3	289		289		195		195
Liabilities held in trust for deferred compensation plan	Level 1	9,701		9,701		9,278		9,278

15. Legal Proceedings

On August 15, 2014, a customer filed a class action complaint against the Bank in the Circuit Court, Jackson County, Missouri.  The case is Cassandra Warren, et al v. Commerce Bank (Case No. 1416-CV19197).  In the case, the customer alleges violation of the Missouri usury statute in connection with the Bank charging overdraft fees in connection with point-of-sale/debit and automated-teller machine cards. The class was certified and consists of Missouri customers of the Bank who may have been similarly affected. The case has been stayed pending the final outcome of a similar case in which a ruling has been made in favor of the bank defendant. The Company believes that the stay will remain in effect until any appeals in the similar case have run their course.  The Company believes the Warren complaint lacks merit and will defend itself vigorously. The amount of any ultimate exposure cannot be determined with certainty at this time.

The Company has various other legal proceedings pending at June 30, 2016, arising in the normal course of business. While some matters pending against the Company specify damages claimed by plaintiffs, others do not seek a specified amount of damages or are at very early stages of the legal process. The Company records a loss accrual for all legal matters for which it

35

deems a loss is probable and can be reasonably estimated. Some legal matters, which are at early stages in the legal process, have not yet progressed to the point where a loss amount can be determined to be probable and estimable.

Item 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND

RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with the consolidated financial statements and related notes and with the statistical information and financial data appearing in this report as well as the Company's 2015 Annual Report on Form 10-K. Results of operations for the three and six month periods ended June 30, 2016 are not necessarily indicative of results to be attained for any other period.

Forward-Looking Information

This report may contain "forward-looking statements" that are subject to risks and uncertainties and include information about possible or assumed future results of operations. Many possible events or factors could affect the future financial results and performance of the Company. This could cause results or performance to differ materially from those expressed in the forward-looking statements. Words such as "expects", "anticipates", "believes", "estimates", variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers should not rely solely on the forward-looking statements and should consider all uncertainties and risks discussed throughout this report. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events. Such possible events or factors include: changes in economic conditions in the Company's market area, changes in policies by regulatory agencies, governmental legislation and regulation, fluctuations in interest rates, changes in liquidity requirements, demand for loans in the Company's market area, changes in accounting and tax principles, estimates made on income taxes, competition with other entities that offer financial services, and such other factors as discussed in Part I Item 1A - "Risk Factors" and Part II Item 7 - "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's 2015 Annual Report on Form 10-K.

Critical Accounting Policies

The Company has identified several policies as being critical because they require management to make particularly difficult, subjective and/or complex judgments about matters that are inherently uncertain and because of the likelihood that materially different amounts would be reported under different conditions or using different assumptions. These policies relate to the allowance for loan losses, the valuation of certain investment securities, and accounting for income taxes. A discussion of these policies can be found in the sections captioned "Critical Accounting Policies" and "Allowance for Loan Losses" in Management's Discussion and Analysis of Financial Condition and Results of Operations included in the Company's 2015 Annual Report on Form 10-K. There have been no changes in the Company's application of critical accounting policies since December 31, 2015.

36

Selected Financial Data

	Three Months Ended June 30						Six Months Ended June 30
	2016			2015			2016			2015
Per Share Data
Net income per common share — basic	$	.70		$	.72	*	$	1.35		$	1.30	*
Net income per common share — diluted	.70			.72		*	1.35			1.30		*
Cash dividends on common stock	.225			.214		*	.450			.429		*
Book value per common share							24.67			22.15		*
Market price							47.90			44.54		*
Selected Ratios
(Based on average balance sheets)
Loans to deposits (1)	63.45		%	60.75		%	63.13		%	60.24		%
Non-interest bearing deposits to total deposits	33.83			34.92			34.13			34.61
Equity to loans (1)	19.15			20.33			19.15			20.47
Equity to deposits	12.15			12.35			12.09			12.33
Equity to total assets	10.13			10.05			9.99			10.05
Return on total assets	1.15			1.26			1.11			1.15
Return on common equity	11.69			12.91			11.44			11.81
(Based on end-of-period data)
Non-interest income to revenue (2)	40.42			41.11			41.25			41.61
Efficiency ratio (3)	61.27			59.39			61.93			61.89
Tier I common risk-based capital ratio							11.50			11.76
Tier I risk-based capital ratio							12.29			12.62
Total risk-based capital ratio							13.23			13.62
Tangible common equity to tangible assets ratio (4)							9.09			8.58
Tier I leverage ratio							9.36			9.08

* Restated for the 5% stock dividend distributed in December 2015.

(1) Includes loans held for sale.

(2) Revenue includes net interest income and non-interest income.

(3) The efficiency ratio is calculated as non-interest expense (excluding intangibles amortization) as a percent of revenue.

(4) The tangible common equity to tangible assets ratio is a measurement which management believes is a useful indicator of capital adequacy and utilization. It provides a meaningful basis for period to period and company to company comparisons, and also assists regulators, investors and analysts in analyzing the financial position of the Company. Tangible common equity and tangible assets are non-GAAP measures and should not be viewed as substitutes for, or superior to, data prepared in accordance with GAAP.

The following table is a reconciliation of the GAAP financial measures of total equity and total assets to the non-GAAP measures of total tangible common equity and total tangible assets.

	June 30
(Dollars in thousands)	2016			2015
Total equity	$	2,526,821		$	2,315,360
Less non-controlling interest	4,905			5,439
Less preferred stock	144,784			144,784
Less goodwill	138,921			138,921
Less core deposit premium	4,370			5,736
Total tangible common equity (a)	$	2,233,841		$	2,020,480
Total assets	$	24,709,693		$	23,705,935
Less goodwill	138,921			138,921
Less core deposit premium	4,370			5,736
Total tangible assets (b)	$	24,566,402		$	23,561,278
Tangible common equity to tangible assets ratio (a)/(b)	9.09		%	8.58		%

37

Results of Operations

Summary

	Three Months Ended June 30								Six Months Ended June 30
(Dollars in thousands)	2016			2015			% change		2016			2015			% change
Net interest income	$	171,829		$	163,657		5.0	%	$	335,604		$	309,795		8.3	%
Provision for loan losses	(9,216		)	(6,757		)	36.4		(18,655		)	(11,177		)	66.9
Non-interest income	116,570			114,235			2.0		235,594			220,809			6.7
Investment securities gains (losses), net	(744		)	2,143			N.M.		(1,739		)	8,178			N.M.
Non-interest expense	(177,089		)	(165,463		)	7.0		(354,562		)	(329,308		)	7.7
Income taxes	(31,542		)	(32,492		)	(2.9	)	(60,912		)	(60,960		)	(.1	)
Non-controlling interest (expense) income	85			(970		)	N.M.		(63		)	(1,929		)	(96.7	)
Net income attributable to Commerce Bancshares, Inc.	69,893			74,353			(6.0	)	135,267			135,408			(.1	)
Preferred stock dividends	(2,250		)	(2,250		)	—		(4,500		)	(4,500		)	—
Net income available to common shareholders	$	67,643		$	72,103		(6.2	)%	$	130,767		$	130,908		(.1	)%

For the quarter ended June 30, 2016, net income attributable to Commerce Bancshares, Inc. (net income) amounted to $69.9 million, a decrease of $4.5 million, or 6.0%, compared to the second quarter of the previous year, and an increase of $4.5 million, or 6.9%, compared to the previous quarter. For the current quarter, the annualized return on average assets was 1.15%, the annualized return on average common equity was 11.69%, and the efficiency ratio was 61.27%. Diluted earnings per common share was $.70, a decrease of 2.8% compared to $.72 per share in the second quarter of 2015 and an increase of 7.7% compared to $.65 per share in the previous quarter.

Compared to the second quarter of last year, net interest income increased $8.2 million, or 5.0%, mainly due to growth of $8.3 million in interest income on loans and $1.4 million in investment securities, partly offset by an increase of $995 thousand in deposit interest expense. The provision for loan losses totaled $9.2 million for the current quarter, representing an increase of $2.5 million over the second quarter of 2015. Non-interest income increased $2.3 million, or 2.0%, with the largest increases occurring in deposit, trust, and loan fees. Non-interest expense increased $11.6 million, or 7.0%, over the second quarter of 2015, primarily due to increases in salaries and benefits, data processing, and bank card rewards expense. Additionally, in the second quarter of 2015, a recovery on a letter of credit exposure was recorded totaling $2.8 million that did not re-occur in 2016. Net investment securities losses totaled $744 thousand in the current quarter compared to gains of $2.1 million in the same quarter last year. The current quarter losses were mainly comprised of fair value adjustments to the Company's private equity portfolio.

Net income for the first six months of 2016 was $135.3 million, a slight decrease from the same period last year. Diluted earnings per common share was $1.35, an increase of 3.8% compared to $1.30 per share in the same period last year. For the first six months of 2016, the annualized return on average assets was 1.11%, the annualized return on average common equity was 11.44%, and the efficiency ratio was 61.93%. Net interest income increased $25.8 million, or 8.3%, over the same period last year. This growth was largely due to increases of $16.5 million in loan interest income and $11.9 million in investment securities interest income, offset by a $1.6 million increase in deposit interest expense. The provision for loan losses was $18.7 million for the first six months of 2016, up $7.5 million over the same period last year. Non-interest income increased $14.8 million, or 6.7%, over the first six months of last year largely due to growth in deposit, trust, bank card, and loan fees. Non-interest expense increased $25.3 million, or 7.7%, mainly due to higher salaries and benefits expense and data processing and software costs, in addition to the prior year letter of credit recovery mentioned above. Net investment securities losses totaled $1.7 million in the first six months of 2016 compared to net gains of $8.2 million in the first six months of 2015, with the majority of these pertaining to the private equity portfolio.

38

Net Interest Income

The following table summarizes the changes in net interest income on a fully taxable equivalent basis, by major category of interest earning assets and interest bearing liabilities, identifying changes related to volumes and rates. Changes not solely due to volume or rate changes are allocated to rate.

Analysis of Changes in Net Interest Income

	Three Months Ended June 30, 2016 vs. 2015									Six Months Ended June 30, 2016 vs. 2015
	Change due to									Change due to
(In thousands)	Average Volume			Average Rate			Total			Average Volume			Average Rate			Total
Interest income, fully taxable equivalent basis:
Loans:
Business	$	3,896		$	1,154		$	5,050		$	7,132		$	1,960		$	9,092
Real estate - construction and land	3,243			(382		)	2,861			5,780			(851		)	4,929
Real estate - business	965			(901		)	64			1,894			(891		)	1,003
Real estate - personal	139			(105		)	34			442			(246		)	196
Consumer	1,094			(618		)	476			3,119			(1,339		)	1,780
Revolving home equity	(147		)	(17		)	(164		)	(155		)	(104		)	(259		)
Consumer credit card	112			(423		)	(311		)	209			(620		)	(411		)
Total interest on loans	9,302			(1,292		)	8,010			18,421			(2,091		)	16,330
Loans held for sale	654			(1		)	653			772			(5		)	767
Investment securities:
U.S. government and federal agency securities	4,142			(4,547		)	(405		)	285			5,980			6,265
Government-sponsored enterprise obligations	(1,456		)	1,978			522			(2,787		)	2,069			(718		)
State and municipal obligations	(308		)	447			139			(671		)	1,058			387
Mortgage-backed securities	1,515			(2,180		)	(665		)	4,661			(3,467		)	1,194
Asset-backed securities	(1,183		)	2,511			1,328			(2,510		)	5,813			3,303
Other securities	673			(101		)	572			2,074			(392		)	1,682
Total interest on investment securities	3,383			(1,892		)	1,491			1,052			11,061			12,113
Federal funds sold and short-term securities purchased under
agreements to resell	(1		)	5			4			4			15			19
Long-term securities purchased under agreements to resell	(783		)	467			(316		)	(1,362		)	1,470			108
Interest earning deposits with banks	(46		)	75			29			(88		)	208			120
Total interest income	12,509			(2,638		)	9,871			18,799			10,658			29,457
Interest expense:
Deposits:
Savings	13			3			16			32			9			41
Interest checking and money market	136			109			245			186			210			396
Time open & C.D.'s of less than $100,000	(81		)	(28		)	(109		)	(170		)	(77		)	(247		)
Time open & C.D.'s of $100,000 and over	119			724			843			96			1,323			1,419
Total interest on deposits	187			808			995			144			1,465			1,609
Federal funds purchased and securities sold under
agreements to repurchase	(115		)	419			304			(149		)	974			825
Other borrowings	(2		)	19			17			2,370			(1,979		)	391
Total interest expense	70			1,246			1,316			2,365			460			2,825
Net interest income, tax equivalent basis	$	12,439		$	(3,884	)	$	8,555		$	16,434		$	10,198		$	26,632

Net interest income in the second quarter of 2016 was $171.8 million, an increase of $8.2 million over the second quarter of 2015. On a tax equivalent (T/E) basis, net interest income totaled $179.6 million in the second quarter of 2016, up $8.6 million over the same period last year and up $8.2 million over the previous quarter.  The increase in net interest income compared to the second quarter of 2015 was mainly due to higher interest on loans of $8.7 million, coupled with higher interest income on investment securities of $1.5 million. The increase in securities interest was mainly due to increased earnings on government-sponsored enterprise obligations of $1.6 million, as a result of early maturity calls on certain securities. Securities interest also includes

39

inflation-related interest on the Company's holdings of U.S. Treasury inflation-protected securities (TIPS), which is tied to the Consumer Price Index. Interest income related to TIPS increased $4.2 million in the first six months of 2016 compared to the same period in 2015, and totaled $3.7 million in the current quarter, negative $1.5 million in the prior quarter and $5.1 million in the second quarter of 2015.  The Company's net yield on earning assets (T/E) was 3.11% in the current quarter, compared to 2.95% in the previous quarter and 3.04% in the second quarter of 2015. Excluding the effects of inflation income and the additional earnings on government-sponsored enterprise obligations, the net yield on earning assets would have been 3.01% in the current quarter, 2.98% in the previous quarter and 2.95% in the second quarter of 2015.

Total interest income (T/E) increased $9.9 million over the second quarter of 2015. Interest income on loans (T/E), including loans held for sale, increased $8.7 million due to an increase of $1.2 billion, or 10.1%, in average loan balances, partly offset by an eight basis point decrease in average rates earned. The higher balances contributed $10.0 million to interest income; however, the lower rates depressed interest income by $1.3 million, resulting in an $8.7 million net increase in interest income. Most of the increase in interest income occurred in the business, construction and consumer loan categories. The largest increase to interest income occurred in business loan interest, which grew $5.1 million due to higher average balances of $556.1 million, or 13.4%, coupled with an 11 basis point increase in the average rate earned. Construction loan interest grew $2.9 million, as average balances increased $357.3 million, or 82.7%, partly offset by a decline of 19 basis points in the average rate earned. Average balances of business real estate loans increased $101.3 million, or 4.4%, while the average rate earned declined 14 basis points and mostly offset the growth in average balances, resulting in a slight increase in interest income. Consumer loan interest totaled $18.8 million, an increase of $1.1 million over the the same period last year. The average balance of consumer loans grew $162.3 million, or 8.9%, partly offset by a decline of nine basis points in the average rate earned. Most of the increase in average consumer loan balances resulted from growth of $197.0 million in auto loans and other consumer loans, partly offset by a decrease of $45.9 million in marine and recreational vehicle (RV) loans, as that portfolio continues to pay down.

Interest income on investment securities (T/E) was $60.1 million during the second quarter of 2016, which was an increase of $1.5 million over the same quarter last year. The increase resulted mainly from increased earnings on government-sponsored enterprise obligations, as a result of early maturity calls on certain securities, coupled with higher interest income on asset-backed and corporate debt securities. Higher interest income on asset-backed securities resulted from an increase of 42 basis points in the average rate earned, partly offset by lower balances of $461.8 million, while growth in interest income on corporate debt securities resulted from both higher balances and rates earned. These increases were partly offset by lower TIPS interest of $1.4 million and lower interest income earned on mortgage-backed securities. The decline in interest income on mortgage-backed securities was mainly due to a 25 basis point decrease in the average rate earned, partly offset by higher balances of $233.4 million. During the current quarter, adjustments to premium amortization expense, due to changes in prepayment speeds on various mortgage and asset-backed securities, were not significant. However, such adjustments increased interest income by $1.2 million in the same quarter last year. The average balance of the total investment portfolio (excluding unrealized fair value adjustments) was $9.4 billion in the second quarter of 2016, compared to $9.6 billion in the second quarter of 2015.

Interest income on long-term securities purchased under agreements to resell decreased $316 thousand from the second quarter of 2015, due to a decrease in average balances invested of $225.0 million, partly offset by higher average rates earned of 24 basis points.

The average tax equivalent yield on total interest earning assets was 3.25% in the second quarter of 2016, up from 3.16% in the second quarter of 2015.

Total interest expense increased $1.3 million compared to the second quarter of 2015, due to a $995 thousand increase in interest expense on interest bearing deposits and a $321 thousand increase in interest expense on borrowings. The increase in deposit expense mainly resulted from a slight increase in overall average rates paid, including a 32 basis point increase in average rates paid on short-term jumbo C.D. balances. Increases of $535.9 million in average money market account balances and $415.3 million in short-term jumbo C.D. balances also contributed to higher deposit expense. Interest expense on borrowings increased due to higher rates paid on federal funds purchased and repurchase agreements, partly offset by lower average balances of repurchase agreements. The overall average rate incurred on all interest bearing liabilities was .22% and .19% in the second quarters of 2016 and 2015, respectively.

Net interest income (T/E) for the first six months of 2016 was $351.0 million compared to $324.4 million for the same period in 2015. For the first six months of 2016, the net interest margin was 3.03% compared to 2.90% for the first six months of 2015.

Total interest income (T/E) for the first six months of 2016 increased $29.5 million over the same period last year, due to higher interest income on loans and investment securities. Loan interest income (T/E), including loans held for sale, rose $17.1 million due to a $1.1 billion increase in total average loan balances, but was partly offset by a nine basis point decline in the average rate earned. Most of the increase in loan interest occurred in the business, construction and consumer loan categories. The growth in

40

interest income on investment securities (T/E) was mainly due to a 27 basis point increase in the average rate earned. Increased earnings were recorded for U.S. government and federal agency securities, due to higher TIPS interest of $4.2 million. In addition, interest earned on asset-backed, corporate debt and mortgage-backed securities increased $3.3 million, $2.0 million, and $1.2 million, respectively. Interest income on long-term resell agreements grew $108 thousand due to higher average rates earned, partly offset by lower average balances.

Total interest expense for the first six months of 2016 increased $2.8 million compared to last year. Interest expense on interest bearing deposits increased $1.6 million, mainly due to a slight increase in overall average rates paid, in addition to higher average money market account balances and short-term jumbo C.D. balances. Interest expense on borrowings also increased $1.2 million, mainly due to higher rates paid on federal funds purchased and repurchase agreements, partly offset by lower average balances of repurchase agreements. Interest expense on FHLB borrowings also increased, due to higher short-term borrowings outstanding during the first quarter of 2016. The overall cost of total interest bearing liabilities increased to .22% compared to .19% in the same period in the prior year.

Summaries of average assets and liabilities and the corresponding average rates earned/paid appear on the last page of this discussion.

Non-Interest Income

	Three Months Ended June 30								Six Months Ended June 30
(Dollars in thousands)	2016			2015			% change		2016			2015			% change
Bank card transaction fees	$	45,065		$	45,672		(1.3	)%	$	89,535		$	87,971		1.8	%
Trust fees	31,464			30,531			3.1		61,834			60,117			2.9
Deposit account charges and other fees	21,328			19,637			8.6		42,019			38,136			10.2
Capital market fees	2,500			2,738			(8.7	)	5,225			5,740			(9.0	)
Consumer brokerage services	3,491			3,507			(.5	)	7,000			6,843			2.3
Loan fees and sales	3,196			2,183			46.4		5,706			4,272			33.6
Other	9,526			9,967			(4.4	)	24,275			17,730			36.9
Total non-interest income	$	116,570		$	114,235		2.0	%	$	235,594		$	220,809		6.7	%
Non-interest income as a % of total revenue*	40.4		%	41.1		%			41.2		%	41.6		%

* Total revenueincludes net interest income and non-interest income.

For the the second quarter of 2016, total non-interest income amounted to $116.6 million compared with $114.2 million in the same quarter last year, which was an increase of $2.3 million, or 2.0%. This increase was mainly due to growth in deposit, trust, sweep and loan fees, partly offset by lower bank card, lease, capital market, swap and tax credit fee income.

Bank card transaction fees for the current quarter decreased $607 thousand, or 1.3%, from the same period last year. The decrease was mainly the result of a decline in commercial card fees of $1.2 million, or 5.4%, but was offset by growth in credit, debit, and merchant card interchange fees of 3.4%, 3.0% and 2.1%, respectively. The table below is a summary of bank card transaction fees for the three and six month periods ended June 30, 2016 and 2015.

	Three Months Ended June 30						Six Months Ended June 30
(Dollars in thousands)	2016		2015		% change		2016		2015		% change
Debit card fees	$	10,032	$	9,738	3.0	%	$	19,417	$18,653		4.1	%
Credit card fees	6,302		6,096		3.4		11,947		11,508		3.8
Merchant fees	6,911		6,771		2.1		14,029		12,863		9.1
Corporate card fees	21,820		23,067		(5.4	)	44,142		44,947		(1.8	)
Total bank card transaction fees	$	45,065	$	45,672	(1.3	)%	$	89,535	$	87,971	1.8	%

Trust fees for the quarter increased $933 thousand, or 3.1%, over the same quarter last year, resulting mainly from continued growth in personal (up 2.0%), institutional (up 3.5%), and corporate (up 57.1%) trust fees. Deposit account fees increased $1.7 million, or 8.6%, over the same period last year, as deposit account service charges increased $1.3 million, or 36.0%, and corporate cash management fees increased $412 thousand, or 4.7%. Capital market fees declined $238 thousand to $2.5 million in the current quarter as a result of continued lower sales demand. Loan fees and sales increased $1.0 million this quarter mainly due to higher mortgage banking revenue, which resulted from higher sales of newly originated residential mortgages under the Company's sale program that began in 2015. Other non-interest income decreased $441 thousand compared to the same quarter last year. This decline was partly due to a decline of $956 thousand in fees from the sales of interest rate swaps as a result of lower sales volumes in the current quarter; however, higher first quarter volumes resulted in 2016 six month results that were slightly

41

higher than in the first six months of 2015. In addition, fees from the sales of tax credits decreased $280 thousand and leasing revenue declined $396 thousand from the previous year. These declines were partly offset by an accrual for a trust related settlement of $897 thousand and an increase in sweep commissions of $443 thousand.

Non-interest income for the first six months of 2016 was $235.6 million compared to $220.8 million in the first six months of 2015, resulting in an increase of $14.8 million, or 6.7%. Bank card fees increased $1.6 million, or 1.8%, as a result of growth in merchant fees of $1.2 million, or 9.1%, debit card fees of $764 thousand, or 4.1%, and credit card fees of $439 thousand, or 3.8%, as all three saw increases in sales volumes. These increases were partly offset by a decline in corporate card fees of $805 thousand, or 1.8%. Trust fee income increased $1.7 million, or 2.9%, as a result of growth in personal, institutional and corporate trust fees. Deposit account fees increased $3.9 million, or 10.2%, due to growth in deposit account service charges and corporate cash management fees. Loan fees and sales increased $1.4 million, or 33.6%, due to higher mortgage banking revenue, while capital market fees decreased $515 thousand, or 9.0%, due to continued lower sales volume. Other non-interest income increased $6.5 million, or 36.9%, mainly due to a $3.3 million gain on the sale of a former branch property recorded in the first quarter of 2016, while net losses on other branch properties sold or held for sale declined $1.2 million. In addition to the trust settlement mentioned above, fees from sweep commissions increased $835 thousand. These increases in current income were partly offset by lower leasing revenue of $699 thousand.

Investment Securities Gains (Losses), Net

	Three Months Ended June 30						Six Months Ended June 30
(In thousands)	2016			2015			2016			2015
Available for sale:
U.S. government bonds	$	—		$	—		$	—		$	1,263
Municipal securities	—			2			—			1,262
Corporate bonds	—			6			—			6
Agency mortgage-backed bonds	—			—			—			—
Asset-backed securities	—			279			—			282
OTTI losses on non-agency mortgage-backed bonds	(147		)	(466		)	(270		)	(483		)
Non-marketable:
Common stock	—			—			23			—
Private equity investments	(597		)	2,322			(1,492		)	5,848
Total investment securities gains (losses), net	$	(744	)	$	2,143		$	(1,739	)	$	8,178

Net gains and losses on investment securities which were recognized in earnings during the three and six months ended June 30, 2016 and 2015 are shown in the table above. Net securities losses amounted to $744 thousand in the second quarter of 2016 and $1.7 million in the first six months of 2016. Included in these net gains and losses are credit-related impairment losses on certain non-agency guaranteed mortgage-backed securities which have been identified as other-than-temporarily impaired. These identified securities had a total fair value of $37.1 million at June 30, 2016. During the current quarter, additional credit-related impairment losses of $147 thousand were recorded, bringing the total losses for the first six months of 2016 to $270 thousand.

Also shown above are net gains and losses relating to non-marketable private equity investments, which are primarily held by the Parent's majority-owned private equity subsidiaries. These include fair value adjustments, in addition to a gain of $1.8 million realized upon the Parent's withdrawal from a private equity fund, as required under the Volcker Rule investment prohibitions. The portion of the private equity activity attributable to minority interests is reported as non-controlling interest in the consolidated statements of income and resulted in income of $379 thousand during the first six months of 2016 and expense of $1.5 million during the first six months of 2015.

During the first six months of 2015, the Company sold $114.6 million of municipal bonds, $48.1 million of U.S. Treasury inflation-protected bonds and $506.4 million of asset-backed bonds, realizing gains of $2.8 million. Most of these sales were part of plan to extend the duration of the securities portfolio and improve net interest margins.

42

Non-Interest Expense

	Three Months Ended June 30						Six Months Ended June 30
(Dollars in thousands)	2016		2015		% change		2016		2015		% change
Salaries and employee benefits	$	104,808	$	99,655	5.2	%	$	211,667	$	197,729	7.0	%
Net occupancy	11,092		10,999		.8		22,395		22,560		(.7	)
Equipment	4,781		4,679		2.2		9,415		9,382		.4
Supplies and communication	5,693		5,226		8.9		12,522		10,807		15.9
Data processing and software	22,770		21,045		8.2		45,669		40,551		12.6
Marketing	4,389		4,307		1.9		8,202		8,225		(.3	)
Deposit insurance	3,143		3,019		4.1		6,308		6,020		4.8
Other	20,413		16,533		23.5		38,384		34,034		12.8
Total non-interest expense	$	177,089	$	165,463	7.0	%	$	354,562	$	329,308	7.7	%

Non-interest expense for the second quarter of 2016 amounted to $177.1 million, an increase of $11.6 million, or 7.0%, compared with $165.5 million in the second quarter of last year. Salaries expense increased $3.8 million, or 4.4%, mainly due to higher full-time salaries and incentives expense. Employee benefits expense also increased $1.4 million, or 9.8%, mostly due to higher medical costs. Growth in salaries expense resulted partly from higher staffing costs, mainly in the areas of residential lending, commercial card, trust, information technology and other supporting units, partially offset by lower staffing in branches and deposit operations. Full-time equivalent employees totaled 4,779 at June 30, 2016 compared to 4,765 at June 30, 2015. Compared to the second quarter of last year, occupancy expense increased .8%, equipment expense grew 2.2%, and supplies and communication expense increased $467 thousand, or 8.9%, mainly due to higher reissuance costs for new chip cards distributed to customers. Data processing and software costs increased by $1.7 million, or 8.2%, mainly due to higher bank card processing costs, software expense and fees paid to outsourced data providers. Other non-interest expense increased $3.9 million, or 23.5%, compared to the previous year. This increase was mainly due to a recovery of $2.8 million in 2015 related to a letter of credit exposure which had been drawn upon and subsequently paid off. In addition, bank card rewards expense grew $1.4 million this quarter compared to the second quarter of last year; however, part of this growth was due to reductions of $923 thousand in rewards expense estimates during the second quarter of 2015 that did not reoccur in the current quarter. These increases were partly offset by a decline of $732 thousand in operating losses, mainly due to lower bank card related fraud losses, partly offset by operating loss accruals this quarter of $700 thousand.

For the first six months of 2016, non-interest expense amounted to $354.6 million, an increase of $25.3 million, or 7.7%, compared with $329.3 million in the same period last year. Salaries and benefits increased $13.9 million, or 7.0%, mainly due to higher full-time salaries, incentives and medical expense. Supplies and communication expense increased $1.7 million, or 15.9%, mainly due to the higher chip card reissuance costs mentioned above and higher data network expense. Data processing and software expense increased $5.1 million, or 12.6%, mainly due to higher bank card processing costs and outsourced data provider fees. Other expense increased $4.4 million, or 12.8%, mainly due to the 2015 letter of credit exposure recovery mentioned above. In addition, higher costs were recorded for bank card rewards expense (up $2.0 million) and charitable contribution expense (up $730 thousand). These increases were partly offset by lower depreciation on operating lease assets, which declined $734 thousand.

43

Provision and Allowance for Loan Losses

	Three Months Ended									Six Months Ended June 30
(In thousands)	June 30, 2016			Mar. 31, 2016			June 30, 2015			2016			2015
Provision for loan losses	$	9,216		$	9,439		$	6,757		$	18,655		$	11,177
Net loan charge-offs (recoveries):
Commercial:
Business	(65		)	463			(239		)	398			(80		)
Real estate-construction and land	(507		)	(11		)	(309		)	(518		)	(1,255		)
Real estate-business	(1,030		)	(242		)	764			(1,272		)	515
	(1,602		)	210			216			(1,392		)	(820		)
Personal Banking:
Real estate-personal	305			(195		)	(47		)	110			52
Consumer	1,781			2,599			1,849			4,380			3,592
Revolving home equity	75			88			103			163			143
Consumer credit card	6,650			5,918			6,424			12,568			12,776
Overdrafts	307			219			212			526			434
	9,118			8,629			8,541			17,747			16,997
Total net loan charge-offs	$	7,516		$	8,839		$	8,757		$	16,355		$	16,177

	Three Months Ended						Six Months Ended June 30
	June 30, 2016		Mar. 31, 2016		June 30, 2015		2016		2015
Annualized net loan charge-offs (recoveries)*:
Commercial:
Business	(.01	)%	.04	%	(.02	)%	.02	%	—	%
Real estate-construction and land	(.26	)	(.01	)	(.29	)	(.14	)	(.60	)
Real estate-business	(.17	)	(.04	)	.13		(.11	)	.05
	(.08	)	.01		.01		(.04	)	(.02	)
Personal Banking:
Real estate-personal	.06		(.04	)	(.01	)	.01		.01
Consumer	.37		.54		.41		.46		.41
Revolving home equity	.07		.08		.10		.08		.07
Consumer credit card	3.62		3.16		3.51		3.39		3.47
Overdrafts	31.53		18.46		18.85		24.35		17.30
	.74		.69		.70		.71		.71
Total annualized net loan charge-offs	.24	%	.28	%	.30	%	.26	%	.28	%

* as a percentage of average loans (excluding loans held for sale)

The Company has an established process to determine the amount of the allowance for loan losses, which assesses the risks and losses inherent in its portfolio. This process provides an allowance consisting of a specific allowance component based on certain individually evaluated loans and a general component based on estimates of allowances for pools of loans.

Loans subject to individual evaluation generally consist of business, construction, business real estate and personal real estate loans on non-accrual status, and include troubled debt restructurings that are on non-accrual status. These non-accrual loans are evaluated individually for impairment based on factors such as payment history, borrower financial condition and collateral. For collateral dependent loans, appraisals of collateral (including exit costs) are normally obtained annually but discounted based on date last received and market conditions. From these evaluations of expected cash flows and collateral values, specific allowances are determined.

44

Loans which are not individually evaluated are segregated by loan type and sub-type and are collectively evaluated. These loans include commercial loans (business, construction and business real estate) which have been graded pass, special mention or substandard, and all personal banking loans except personal real estate loans on non-accrual status. Collectively-evaluated loans include certain troubled debt restructurings with similar risk characteristics. Allowances for both personal banking and commercial loans use methods which consider historical and current loss trends, loss emergence periods, delinquencies, industry concentrations and unique risks. Economic conditions throughout the Company's market place, as monitored by Company credit officers, are also considered in the allowance determination process.

The Company’s estimate of the allowance for loan losses and the corresponding provision for loan losses rest upon various judgments and assumptions made by management. In addition to past loan loss experience, various qualitative factors are considered, such as current loan portfolio composition and characteristics, trends in delinquencies, portfolio risk ratings, levels of non-performing assets, credit concentrations, collateral values, and prevailing regional and national economic conditions. The Company has internal credit administration and loan review staffs that continuously review loan quality and report the results of their reviews and examinations to the Company’s senior management and Board of Directors. Such reviews also assist management in establishing the level of the allowance. In using this process and the information available, management must consider various assumptions and exercise considerable judgment to determine the overall level of the allowance for loan losses. Because of these subjective factors, actual outcomes of inherent losses can differ from original estimates. The Company’s subsidiary bank continues to be subject to examination by several regulatory agencies, and examinations are conducted throughout the year, targeting various segments of the loan portfolio for review. Note 1 in the 2015 Annual Report on Form 10-K contains additional discussion on the allowance and charge-off policies.

Net loan charge-offs in the second quarter of 2016 amounted to $7.5 million, compared with $8.8 million in both the prior quarter and the second quarter of last year. The decrease in current quarter net loan charge-offs compared to the previous quarter was mainly the result of higher construction and business real estate loan recoveries and lower consumer loan charge-offs recorded this quarter, offset by higher consumer credit card and personal real estate net loan charge-offs.  In the current quarter, commercial loan net recoveries of $1.6 million were recorded on business, construction and business real estate loans.  For the three months ended June 30, 2016, annualized net loan charge-offs on average consumer credit card loans totaled 3.62%, compared with 3.16% in the previous quarter and 3.51% in the same period last year. Annualized net charge-offs on personal real estate loans totaled .06% and remained low.  Consumer loan annualized net charge-offs in the current quarter amounted to .37%, compared to .54% in the prior quarter and .41% in the same period last year.  In the second quarter of 2016, total annualized net loan charge-offs were .24%, compared to .28% in the previous quarter and .30% in the same period last year.

In the current quarter, the provision for loan losses totaled $9.2 million and exceeded net loan charge-offs by $1.7 million, growing the allowance for loan losses by $1.7 million.  In the same period last year, the provision for loan losses totaled $6.8 million and was $2.0 million less than net loan charge-offs.  The provision for loan losses in the current quarter decreased by $223 thousand compared to the previous quarter. 

For the six months ended June 30, 2016, net loan charge-offs totaled $16.4 million, compared to $16.2 million in 2015.  The slight increase in net loan charge-offs resulted mainly from an increase in consumer net loan charge-offs, which increased by $788 thousand, offset by a $572 thousand net increase in commercial loan recoveries.  The provision for loan losses for the first six months of 2016 was $18.7 million and increased by $7.5 million compared to the previous year. The increase in  provision expense was the result of slightly higher net loan losses coupled with a $2.3 million increase in the loan loss reserve this year, whereas the provision for loan losses in the previous year was $5.0 million less than net loan charge-offs, accordingly reducing the allowance for loan losses.

At June 30, 2016, the allowance for loan losses amounted to $153.8 million and was 1.18% of total loans and 627% of total non-accrual loans. At December 31, 2015, the allowance for loan losses amounted to $151.5 million and was 1.22% of total loans and 570% of total non-accrual loans.

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Risk Elements of Loan Portfolio

The following table presents non-performing assets and loans which are past due 90 days and still accruing interest. Non-performing assets include non-accruing loans and foreclosed real estate. Loans are placed on non-accrual status when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment. Loans that are 90 days past due as to principal and/or interest payments are generally placed on non-accrual, unless they are both well-secured and in the process of collection, or they are personal banking loans that are exempt under regulatory rules from being classified as non-accrual.

(Dollars in thousands)	June 30, 2016			December 31, 2015
Non-accrual loans	$	24,524		$	26,575
Foreclosed real estate	1,609			2,819
Total non-performing assets	$	26,133		$	29,394
Non-performing assets as a percentage of total loans	.20		%	.24		%
Non-performing assets as a percentage of total assets	.11		%	.12		%
Total loans past due 90 days and still accruing interest	$	15,892		$	16,467

Non-accrual loans, which are also classified as impaired, totaled $24.5 million at June 30, 2016, and decreased $2.1 million from balances at December 31, 2015. The decrease occurred mainly in business real estate loans and construction real estate loans, which decreased $2.6 million and $920 thousand, respectively. These decreases were partially offset by an increase in business loans of $1.8 million. At June 30, 2016, non-accrual loans were comprised mainly of business (51.9%), business real estate (21.4%), and personal real estate (17.5%) loans. Foreclosed real estate totaled $1.6 million at June 30, 2016, a decrease of $1.2 million when compared to December 31, 2015. Total loans past due 90 days or more and still accruing interest were $15.9 million as of June 30, 2016, a decrease of $575 thousand when compared to December 31, 2015. Balances by class for non-accrual loans and loans past due 90 days and still accruing interest are shown in the "Delinquent and non-accrual loans" section in Note 2 to the consolidated financial statements.

In addition to the non-performing and past due loans mentioned above, the Company also has identified loans for which management has concerns about the ability of the borrowers to meet existing repayment terms. They are classified as substandard under the Company's internal rating system. The loans are generally secured by either real estate or other borrower assets, reducing the potential for loss should they become non-performing. Although these loans are generally identified as potential problem loans, they may never become non-performing. Such loans totaled $111.5 million at June 30, 2016 compared with $113.1 million at December 31, 2015, resulting in a decrease of $1.6 million, or 1.4%.

(In thousands)	June 30, 2016		December 31, 2015
Potential problem loans:
Business	$	58,400	$	58,860
Real estate – construction and land	350		1,159
Real estate – business	51,159		51,107
Real estate – personal	1,626		1,755
Consumer	—		262
Total potential problem loans	$	111,535	$	113,143

At June 30, 2016, the Company had $61.5 million of loans whose terms have been modified or restructured under a troubled debt restructuring. These loans have been extended to borrowers who are experiencing financial difficulty and who have been granted a concession, as defined by accounting guidance, and are further discussed in the "Troubled debt restructurings" section in Note 2 to the consolidated financial statements. This balance includes certain commercial loans totaling $30.3 million which are classified as substandard and included in the table above because of this classification.

Loans with Special Risk Characteristics

Management relies primarily on an internal risk rating system, in addition to delinquency status, to assess risk in the loan portfolio, and these statistics are presented in Note 2 to the consolidated financial statements. However, certain types of loans are considered at high risk of loss due to their terms, location, or special conditions. Additional information about the major types of loans in these categories and their risk features are provided below. Information based on loan-to-value (LTV) ratios was generally calculated with valuations at loan origination date. The Company normally obtains an updated appraisal or valuation at the time a loan is renewed or modified, or if the loan becomes significantly delinquent or is in the process of being foreclosed upon.

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Real Estate – Construction and Land Loans

The Company's portfolio of construction and land loans, as shown in the table below, amounted to 6.3% of total loans outstanding at June 30, 2016. The largest component of construction and land loans was commercial construction, which grew $169.0 million during the six months ended June 30, 2016. At June 30, 2016, multi-family residential construction loans totaled approximately $208.1 million, or 39% of the commercial construction loan portfolio.

(Dollars in thousands)	June 30, 2016		% of Total		% of Total Loans		December 31, 2015		% of Total		% of Total Loans
Residential land and land development	$	81,131	9.9	%	.6	%	$	72,622	11.6	%	.6	%
Residential construction	144,282		17.6		1.1		131,943		21.2		1.1
Commercial land and land development	60,187		7.3		.5		54,176		8.7		.4
Commercial construction	534,296		65.2		4.1		365,329		58.5		2.9
Total real estate - construction and land loans	$	819,896	100.0	%	6.3	%	$	624,070	100.0	%	5.0	%

Real Estate – Business Loans

Total business real estate loans were $2.4 billion at June 30, 2016 and comprised 18.3% of the Company's total loan portfolio. These loans include properties such as manufacturing and warehouse buildings, small office and medical buildings, churches, hotels and motels, shopping centers, and other commercial properties. At June 30, 2016, 41.4% of business real estate loans were for owner-occupied real estate properties, which present lower risk profiles.

(Dollars in thousands)	June 30, 2016		% of Total		% of Total Loans		December 31, 2015		% of Total		% of Total Loans
Owner-occupied	$	992,894	41.4	%	7.6	%	$	983,844	41.8	%	7.9	%
Retail	323,706		13.5		2.5		322,644		13.7		2.6
Multi-family	223,792		9.3		1.7		196,212		8.3		1.6
Office	221,785		9.2		1.7		218,018		9.3		1.8
Farm	169,175		7.1		1.3		167,344		7.1		1.3
Hotels	161,114		6.7		1.2		157,317		6.7		1.2
Industrial	122,614		5.1		.9		112,261		4.7		.9
Other	184,191		7.7		1.4		197,904		8.4		1.6
Total real estate - business loans	$	2,399,271	100.0	%	18.3	%	$	2,355,544	100.0	%	18.9	%

Real Estate – Personal Loans

The Company's $1.9 billion personal real estate loan portfolio is composed mainly of residential first mortgage real estate loans. As shown on page 44, recent loss rates have remained low, and at June 30, 2016, loans past due over 30 days decreased $620 thousand and non-accrual loans decreased $132 thousand compared to December 31, 2015. Also, as shown in Note 2, only 4.3% of this portfolio has FICO scores of less than 660. Approximately $18.5 million, or 1.0%, of personal real estate loans were structured with interest only payments. These loans are typically made to high net-worth borrowers and generally have low LTV ratios at origination or have additional collateral pledged to secure the loan. Therefore, they are not perceived to represent above normal credit risk. Loans originated with interest only payments were not made to "qualify" the borrower for a lower payment amount. At June 30, 2016, loans with no mortgage insurance and an original LTV higher than 80% totaled $151.5 million compared to $146.8 million at December 31, 2015.

Revolving Home Equity Loans

The Company had $408.3 million in revolving home equity loans at June 30, 2016 that were generally collateralized by residential real estate. Most of these loans (93.5%) are written with terms requiring interest only monthly payments. These loans are offered in three main product lines: LTV up to 80%, 80% to 90%, and 90% to 100%. As of June 30, 2016, the outstanding principal of loans with an original LTV higher than 80% was $54.8 million, or 13.4% of the portfolio, compared to $68.1 million as of December 31, 2015. Total revolving home equity loan balances over 30 days past due or on non-accrual status were $4.5million at June 30, 2016 compared to $5.0 million at December 31, 2015.  The weighted average FICO score for the total current portfolio balance is 773. At maturity, the accounts are re-underwritten, and if they qualify under the Company's credit, collateral and capacity policies, the borrower is given the option to renew the line of credit or convert the outstanding balance to an amortizing loan.  If criteria are not met, amortization is required, or the borrower may pay off the loan. During the remainder of 2016 through 2018, approximately 25% of the Company's current outstanding balances are expected to mature. Of these balances, approximately

47

84% have a FICO score of 700 or higher. The Company does not expect a significant increase in losses as these loans mature, due to their high FICO scores, low LTVs, and low historical loss levels.

Other Consumer Loans

Within the consumer loan portfolio are several direct and indirect product lines, which include loans for the purchase of automobiles, marine and RVs. Outstanding balances for auto loans were $975.5 million and $996.0 million at June 30, 2016 and December 31, 2015, respectively. The balances over 30 days past due amounted to $10.2 million at June 30, 2016 compared to $10.8 million at the end of 2015, and comprised 1.0% and 1.1% of the outstanding balances of these loans at June 30, 2016 and December 31, 2015, respectively. For the six months ended June 30, 2016, $239.0 million of new auto loans were originated, compared to $497.2 million during the full year of 2015.  At June 30, 2016, the automobile loan portfolio had a weighted average FICO score of 732.

The Company's balance of marine and RV loans totaled $120.4 million at June 30, 2016, compared to $143.1 million at December 31, 2015, and the balances over 30 days past due amounted to $2.9 million at June 30, 2016 compared to $5.1 million at the end of 2015. The net charge-offs on marine and RV loans declined from $755 thousand in the first six months of 2015, to $691 thousand in the first six months of the current year.

Additionally, the Company offers low promotional rates on selected consumer credit card products. Out of a portfolio at June 30, 2016 of $753.2 million in consumer credit card loans outstanding, approximately $172.4 million, or 22.9%, carried a low promotional rate. Within the next six months, $49.9 million of these loans are scheduled to convert to the ongoing higher contractual rate. To mitigate some of the risk involved with this credit card product, the Company performs credit checks and detailed analysis of the customer borrowing profile before approving the loan application. Management believes that the risks in the consumer loan portfolio are reasonable and the anticipated loss ratios are within acceptable parameters.

Energy Lending

The Company's energy lending portfolio was comprised of lending to the petroleum and natural gas sectors and totaled $148.0 million at June 30, 2016, as shown in the table below. As of June 30, 2016, there were $24.4 million of energy loans, or 16.5% of the energy portfolio, with a "substandard" rating or on non-accrual status, and there were no energy loans 90 days past due and still accruing interest.

(In thousands)	June 30, 2016		December 31, 2015		Unfunded commitments at June 30, 2016
Extraction	$	90,410	$	65,649	$	22,578
Downstream distribution and refining	23,992		27,246		24,497
Mid-stream shipping and storage	17,947		28,678		55,415
Support activities	15,652		14,946		4,956
Total energy lending portfolio	$	148,001	$	136,519	$	107,446

Shared National Credits

The Company participates in credits of large, publicly traded companies which are defined by regulation as shared national credits, or SNCs. Regulations define SNCs as loans exceeding $20 million that are shared by three or more financial institutions. The Company typically participates in these loans when business operations are maintained in the local communities or regional markets and opportunities to provide other banking services are present. The balance of SNC loans totaled $809.6 million at June 30, 2016, compared to $656.0 million at December 31, 2015. Additional unfunded commitments at June 30, 2016 totaled $1.3 billion.

Income Taxes

Income tax expense was $31.5 million in the second quarter of 2016, compared to $29.4 million in the first quarter of 2016 and $32.5 million in the second quarter of 2015. The Company's effective tax rate, including the effect of non-controlling interest, was 31.1% in the second quarter of 2016, compared to 31.0% in the first quarter of 2016 and 30.4% in the second quarter of 2015.

48

Financial Condition

Balance Sheet

Total assets of the Company were $24.7 billion at June 30, 2016 and $24.6 billion at December 31, 2015. Earning assets (excluding fair value adjustments on investment securities) amounted to $23.3 billion at June 30, 2016 and $23.2 billion at December 31, 2015, and consisted of 56% in loans and 39% in investment securities.

At June 30, 2016, total loans, including those held for sale, increased $680.8 million, or 5.5%, compared with balances at December 31, 2015. On an overall basis, the largest contributions to loan growth occurred in business loans and construction loans, which increased $442.4 million and $195.8 million, respectively, over year end balances. The increase in business loans mainly resulted from growth in commercial and industrial loans and tax-free loans. Commercial construction projects contributed to the growth in construction loans. The consumer loan portfolio, including the balance of held for sale automobile loans, increased $36.0 million during the first six months of the year. In order to limit risk in the auto sector of the loan portfolio, the Company sold $21.8 million of these loans in June 2016 and an additional $20.8 million remain held for sale at June 30, 2016. Outstanding balances of automobile and other consumer loans grew by $52.1 million in the first six months of 2016, compared to growth of $156.6 million in the first six months of 2015. Fixed rate home equity loans also grew by $6.5 million. However, marine and RV loans, also included in the consumer loan portfolio, continued to run off during the period by $22.7 million. Personal real estate loans grew $11.4 million during the first six months of 2016; however, the Company originated and sold an additional $64.5 million of longer-term fixed rate loans during this period. Business real estate loans grew $43.7 million over year end, while declines in consumer credit card (down $26.6 million) and revolving home equity loans (down $24.7 million) offset this growth.

Available for sale investment securities, excluding fair value adjustments, decreased by $718.9 million at June 30, 2016 compared to December 31, 2015. Purchases of securities during this period totaled $389.7 million, offset by maturities and pay downs of $1.1 billion. The largest decreases in outstanding balances occurred in asset-backed securities, which decreased by $366.4 million, and government-sponsored enterprise obligations, which decreased by $240.9 million. At June 30, 2016, the duration of the investment portfolio was 2.6 years, and maturities and pay downs of approximately $1.6 billion are expected to occur during the next 12 months.

Total deposits at June 30, 2016 totaled $20.2 billion and increased $171.2 million compared to December 31, 2015. Money market deposits increased $276.7 million, or 3.1%, and savings accounts increased $46.5 million, or 6.3%. C.D. accounts increased $267.3 million, or 13.4%, mainly in jumbo accounts. These increases were partially offset by decreases in interest checking deposits of $179.2 million, or 14.1%, and non-interest bearing deposits of $240.1 million, or 3.4%. The decline in non-interest bearing deposits included reductions of $181.6 million in business accounts and $82.2 million in personal accounts.

Total borrowings were $1.7 billion at June 30, 2016 compared to $2.1 billion at December 31, 2015. Short-term borrowings of federal funds purchased and customer repurchase agreements totaled $1.6 billion at June 30, 2016, a decrease of $331.3 million from balances of $2.0 billion at December 31, 2015. The overall decrease in these balances was due to a decrease of $525.2 million in federal funds purchased, offset by an increase $193.9 million in customer repurchase agreements.

Liquidity and Capital Resources

Liquidity Management

The Company’s most liquid assets are comprised of available for sale investment securities, federal funds sold, securities purchased under agreements to resell (resale agreements), and balances at the Federal Reserve Bank, as follows:

(In thousands)	June 30, 2016		March 31, 2016		December 31, 2015
Liquid assets:
Available for sale investment securities	$	9,221,346	$	9,552,179	$	9,777,004
Federal funds sold	13,725		9,075		14,505
Long-term securities purchased under agreements to resell	825,000		825,000		875,000
Balances at the Federal Reserve Bank	183,223		171,651		23,803
Total	$	10,243,294	$	10,557,905	$	10,690,312

Federal funds sold, which are funds lent to the Company's correspondent bank customers with overnight maturities, totaled $13.7 million as of June 30, 2016. Long-term resale agreements, maturing in 2016 through 2018, totaled $825.0 million at June 30, 2016. Under these agreements, the Company lends funds to upstream financial institutions and holds marketable securities, safe-

49

kept by a third-party custodian, as collateral. This collateral totaled $870.4 million in fair value at June 30, 2016. Interest earning balances at the Federal Reserve Bank, which have overnight maturities and are used for general liquidity purposes, totaled $183.2 million at June 30, 2016. The fair value of the available for sale investment portfolio was $9.2 billion at June 30, 2016 and included an unrealized net gain in fair value of $248.9 million. The total net unrealized gain included net gains of $101.5 million on mortgage and asset-backed securities, $69.7 million on state and municipal obligations, and $39.2 million on common and preferred stock held by the Parent.

Approximately $1.6 billion of the available for sale investment portfolio is expected to mature or pay down during the next 12 months, and these funds offer substantial resources to meet new loan demand or help offset reductions in the Company's deposit funding base. The Company pledges portions of its investment securities portfolio to secure public fund deposits, securities sold under agreements to repurchase, trust funds, letters of credit issued by the FHLB, and borrowing capacity at the Federal Reserve Bank. Total investment securities pledged for these purposes were as follows:

(In thousands)	June 30, 2016		March 31, 2016		December 31, 2015
Investment securities pledged for the purpose of securing:
Federal Reserve Bank borrowings	$	138,547	$	150,544	$	166,153
FHLB borrowings and letters of credit	25,757		28,822		31,095
Securities sold under agreements to repurchase	2,332,313		1,632,978		2,116,537
Other deposits and swaps	2,055,453		2,124,074		1,827,195
Total pledged securities	4,552,070		3,936,418		4,140,980
Unpledged and available for pledging	2,833,345		3,800,391		3,886,219
Ineligible for pledging	1,835,931		1,815,370		1,749,805
Total available for sale securities, at fair value	$	9,221,346	$	9,552,179	$	9,777,004

Liquidity is also available from the Company's large base of core customer deposits, defined as non-interest bearing, interest checking, savings, and money market deposit accounts. At June 30, 2016, such deposits totaled $17.9 billion and represented 88.8% of total deposits. These core deposits are normally less volatile, as they are often with customer relationships tied to other products offered by the Company, promoting long lasting relationships and stable funding sources. Time open and certificates of deposit of $100,000 and over totaled $1.5 billion at June 30, 2016. These accounts are normally considered more volatile and higher costing and comprised 7.5% of total deposits at June 30, 2016.

(In thousands)	June 30, 2016		March 31, 2016		December 31, 2015
Core deposit base:
Non-interest bearing	$	6,906,265	$	7,065,066	$	7,146,398
Interest checking	1,088,540		1,064,499		1,267,757
Savings and money market	9,890,194		10,140,858		9,566,989
Total	$	17,884,999	$	18,270,423	$	17,981,144

Other important components of liquidity are the level of borrowings from third party sources and the availability of future credit. The Company's outside borrowings are mainly comprised of federal funds purchased, securities sold under agreements to repurchase, and advances from the FHLB, as follows:

(In thousands)	June 30, 2016		March 31, 2016		December 31, 2015
Borrowings:
Federal funds purchased	$	31,810	$	3,885	$	556,970
Securities sold under agreements to repurchase	1,600,462		953,503		1,406,582
FHLB advances	103,000		103,806		103,818
Other debt	878		—		—
Total	$	1,736,150	$	1,061,194	$	2,067,370

Federal funds purchased are unsecured overnight borrowings obtained mainly from upstream correspondent banks with which the Company maintains approved lines of credit. Securities sold under agreements to repurchase are secured by a portion of the Company's investment portfolio and are comprised of non-insured customer funds totaling $1.6 billion, which generally mature overnight. The Company also borrows on a secured basis through advances from the FHLB, which totaled $103.0 million at June 30, 2016. These advances have fixed interest rates, and nearly all mature in 2017.

50

The Company pledges certain assets, including loans and investment securities, to both the Federal Reserve Bank and the FHLB as security to establish lines of credit and borrow from these entities. Based on the amount and type of collateral pledged, the FHLB establishes a collateral value from which the Company may draw advances against the collateral. Also, this collateral is used to enable the FHLB to issue letters of credit in favor of public fund depositors of the Company. The Federal Reserve Bank also establishes a collateral value of assets pledged to support borrowings from the discount window. The following table reflects the collateral value of assets pledged, borrowings, and letters of credit outstanding, in addition to the estimated future funding capacity available to the Company at June 30, 2016.

	June 30, 2016
(In thousands)	FHLB			Federal Reserve		Total
Collateral value pledged	$	2,446,777		$	1,291,933	$	3,738,710
Advances outstanding	(103,000		)	—		(103,000		)
Letters of credit issued	(194,210		)	—		(194,210		)
Available for future advances	$	2,149,567		$	1,291,933	$	3,441,500

In addition to those mentioned above, several other sources of liquidity are available. The Bank has strong issuer ratings of A from Standard & Poor's and A2 from Moody's. Additionally, the Parent's sound commercial paper rating of P-1 from Moody's would help ensure the ready marketability of its commercial paper, should the need arise. No commercial paper has been issued or outstanding during the past ten years. The Company has no subordinated debt or hybrid instruments which could affect future borrowing capacity. Because of its lack of significant long-term debt, the Company believes that it could generate additional liquidity through its Capital Markets Group from sources such as jumbo certificates of deposit or privately placed corporate debt.

The cash flows from the operating, investing and financing activities of the Company resulted in a net increase in cash and cash equivalents of $122.5 million during the first six months of 2016, as reported in the consolidated statements of cash flows in this report. Operating activities, consisting mainly of net income adjusted for certain non-cash items, provided cash flow of $290.9 million and has historically been a stable source of funds. Investing activities, which occur mainly in the loan and investment securities portfolios, provided cash of $18.1 million. These activities included $1.1 billion in maturities and pay downs of investment securities, offset by purchases of $414.2 million, and a net increase in loans of $721.3 million. Additionally, repayments of long-term securities purchased under agreements to resell provided cash of $50.0 million. Financing activities used cash of $186.4 million, resulting from a net decrease in borrowings of federal funds purchased and securities sold under agreements to repurchase of $331.3 million. In addition, cash was used to fund dividends paid on common and preferred stock of $48.0 million, and $37.5 million was used to purchase treasury stock. These cash outlays were partially offset by a net increase of $228.4 million in deposits. Future short-term liquidity needs arising from daily operations are not expected to vary significantly, and the Company believes it will be able to meet these cash flow needs.

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Capital Management

The Company met all capital adequacy requirements and had regulatory capital ratios in excess of the levels established for well-capitalized institutions at June 30, 2016 and December 31, 2015, as shown in the following table.

(Dollars in thousands)	June 30, 2016			December 31, 2015			Minimum Ratios under Capital Adequacy Guidelines *		Minimum Ratios for Well-Capitalized Banks **
Risk-adjusted assets	$	18,343,814		$	17,809,554
Tier I common risk-based capital	2,109,460			2,051,474
Tier I risk-based capital	2,254,244			2,196,258
Total risk-based capital	2,426,787			2,364,761
Tier I common risk-based capital ratio	11.50		%	11.52		%	7.00	%	6.50	%
Tier I risk-based capital ratio	12.29		%	12.33		%	8.50	%	8.00	%
Total risk-based capital ratio	13.23		%	13.28		%	10.50	%	10.00	%
Tier I leverage ratio	9.36		%	9.23		%	4.00	%	5.00	%

* as of the fully phased-in date of Jan. 1, 2019, including capital conservation buffer

**under Prompt Corrective Action requirements

The Company maintains a treasury stock buyback program under authorizations by its Board of Directors and normally purchases stock in the open market. The Company purchased 922,698 shares at an average price of $40.60 during the six months ended June 30, 2016, including 21,769 shares at an average price of $47.33 during the second quarter of 2016. Additionally, the Company purchased 6.7 million shares through accelerated share repurchase agreements during 2015 and 2014.At June 30, 2016, 3.8 million shares remained available for purchase under the current Board authorization.

The Company's common stock dividend policy reflects its earnings outlook, desired payout ratios, the need to maintain adequate capital and liquidity levels, and alternative investment options. The Company paid a $.225 per share cash dividend on its common stock in both the first and second quarters of 2016, which was a 5% increase compared to its 2015 quarterly dividend.

Commitments, Off-Balance Sheet Arrangements and Contingencies

In the normal course of business, various commitments and contingent liabilities arise which are not required to be recorded on the balance sheet. The most significant of these are loan commitments, which at June 30, 2016 totaled $10.1 billion (including approximately $4.9 billion in unused approved credit card lines). In addition, the Company enters into standby and commercial letters of credit. These contracts totaled $359.0 million and $5.2 million, respectively, at June 30, 2016. As many commitments expire unused or only partially used, these totals do not necessarily reflect future cash requirements. The carrying value of the guarantee obligations associated with the standby letters of credit, which has been recorded as a liability on the consolidated balance sheet, amounted to $2.6 million at June 30, 2016.

The Company regularly purchases various state tax credits arising from third-party property redevelopment. These credits are either resold to third parties at a profit or retained for use by the Company. During the first six months of 2016, purchases and sales of tax credits amounted to $21.6 million and $13.3 million, respectively. Fees from sales of tax credits were $1.7 million for the six months ended June 30, 2016, compared to $1.3 million in the same period last year. At June 30, 2016, the Company expected to fund outstanding purchase commitments of $62.7 million during the remainder of 2016.

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Segment Results

The table below is a summary of segment pre-tax income results for the first six months of 2016 and 2015.

(Dollars in thousands)	Consumer			Commercial			Wealth			Segment Totals			Other/ Elimination			Consolidated Totals
Six Months Ended June 30, 2016
Net interest income	$	133,791		$	153,015		$	21,822		$	308,628		$	26,976		$	335,604
Provision for loan losses	(17,500		)	1,487			(115		)	(16,128		)	(2,527		)	(18,655		)
Non-interest income	62,936			99,408			71,021			233,365			2,229			235,594
Investment securities losses, net	—			—			—			—			(1,739		)	(1,739		)
Non-interest expense	(139,536		)	(140,536		)	(56,840		)	(336,912		)	(17,650		)	(354,562		)
Income before income taxes	$	39,691		$	113,374		$	35,888		$	188,953		$	7,289		$	196,242
Six Months Ended June 30, 2015
Net interest income	$	132,180		$	144,223		$	21,494		$	297,897		$	11,898		$	309,795
Provision for loan losses	(16,895		)	676			8			(16,211		)	5,034			(11,177		)
Non-interest income	56,363			97,199			68,537			222,099			(1,290		)	220,809
Investment securities gains, net	—			—			—			—			8,178			8,178
Non-interest expense	(134,282		)	(130,384		)	(54,250		)	(318,916		)	(10,392		)	(329,308		)
Income before income taxes	$	37,366		$	111,714		$	35,789		$	184,869		$	13,428		$	198,297
Increase (decrease) in income before income taxes:
Amount	$	2,325		$	1,660		$	99		$	4,084		$	(6,139	)	$	(2,055	)
Percent	6.2		%	1.5		%	.3		%	2.2		%	(45.7		)%	(1.0		)%

Consumer

For the six months ended June 30, 2016, income before income taxes for the Consumer segment increased $2.3 million, or 6.2%, compared to the first six months of 2015. This increase was mainly due to growth in non-interest income of $6.6 million, or 11.7%, and net interest income of $1.6 million, or 1.2%. These increases were partly offset by higher non-interest expense of $5.3 million, or 3.9%, and an increase in the provision for loan losses of $605 thousand, or 3.6%. Net interest income increased due to a $2.2 million increase in net allocated funding credits assigned to the Consumer segment's loan and deposit portfolios, partly offset by a decline of $714 thousand in loan interest income. Non-interest income increased mainly due to growth in deposit fees (mainly deposit account service fees and overdraft and return item fees), mortgage banking revenue and bank card fees. Non-interest expense increased over the same period in the previous year due to higher bank card processing costs, bank card rewards expense, and supplies and communication expense. Supplies and communication expense increased over the prior year largely due to higher reissuance costs for new chip cards distributed to customers. In addition, higher costs were incurred for allocated support services, while bank card fraud losses declined from the prior year. The provision for loan losses totaled $17.5 million, a $605 thousand increase over the first six months of 2015, which was mainly due to higher personal loan net charge-offs resulting from growth in the auto loan portfolio, partly offset by lower consumer credit card loan net charge-offs.

Commercial

For the six months ended June 30, 2016, income before income taxes for the Commercial segment increased $1.7 million, or 1.5%, compared to the same period in the previous year. This increase was mainly due to growth in net interest income and non-interest income, along with a decline in the provision for loan losses and was partly offset by higher non-interest expense. Net interest income increased $8.8 million, or 6.1%, due to an increase in loan interest income, partly offset by a decline in net allocated funding credits and higher deposit interest expense. Non-interest income increased by $2.2 million, or 2.3%, over the previous year due to growth in merchant bank card fees, corporate cash management fees, sweep commissions and tax credit sales fees. These increases were partly offset by declines in corporate bank card fees and leasing revenue. Non-interest expense increased $10.2 million, or 7.8%, mainly due to increases in salaries expense, bank card processing costs, and allocated support and corporate costs. Also contributing to higher non-interest expense was a recovery of $2.8 million in 2015 related to a letter of credit exposure which had been drawn upon and subsequently paid off. The provision for loan losses declined $811 thousand from the same period last year, due to higher net recoveries on business real estate and personal real estate loans, partly offset by lower construction and business loan net recoveries.

53

Wealth

Wealth segment pre-tax profitability for the six months ended June 30, 2016 increased $99 thousand, or .3%, over the same period in the previous year. Net interest income increased $328 thousand, mainly due to an increase in loan interest income, offset by lower net allocated funding credits. Non-interest income increased $2.5 million, or 3.6%, over the prior year largely due to higher personal, institutional and corporate trust fees. and a trust related settlement. Non-interest expense increased $2.6 million, or 4.8%, mainly due to higher full-time salary costs and incentive compensation. The provision for loan losses increased $123 thousand, mainly due to higher revolving home equity loan net charge-offs.

The Other/Elimination category in the preceding table includes the activity of various support and overhead operating units of the Company, in addition to the investment securities portfolio and other items not allocated to the segments. In accordance with the Company’s transfer pricing procedures, the difference between the total provision and total net charge-offs/recoveries is not allocated to a business segment and is included in this category. The pre-tax profitability of this category was lower than in the same period last year by $6.1 million. This decrease was partly due to higher unallocated non-interest expense of $7.3 million, offset by higher net interest income of $15.1 million and non-interest income of $3.5 million. Unallocated securities losses were $1.7 million in the first six months of 2016 compared to gains of $8.2 million in 2015. Also, the unallocated loan loss provision increased $7.6 million, as the provision was $5.0 million less than charge-offs in the first six months of 2015 compared to $2.3 million in excess of charge-offs in the first six months of 2016.

Regulatory Changes Affecting the Banking Industry

In accordance with the Dodd-Frank Act, the Company began submitting its stress test results to the Federal Reserve in March 2014 and publicly disclosed the results of its stress testing for the first time in June 2015. In 2016, the Company expects to submit its stress test report to the Federal Reserve in July and will publicly disclose the results in October.

The Volcker Rule of the Dodd-Frank Act, effective on April 1, 2014, places trading restrictions on financial institutions and separates investment banking, private equity and proprietary trading (hedge fund) sections of financial institutions from their consumer lending arms. Key provisions restrict banks from simultaneously entering into advisory and creditor roles with their clients, such as with private equity firms. The Volcker Rule also restricts financial institutions from investing in and sponsoring certain types of investments, which must be divested by July 21, 2017. The Company withdrew from a private equity fund investment to comply with the Volcker Rule requirement this quarter and realized a gain of $1.8 million upon divestiture. The Company does not hold other significant investments requiring disposal. The Company does not believe it will be significantly affected by the Volcker Rule provisions.

Impact of Recently Issued Accounting Standards

Revenue from Contracts with Customers The FASB issued ASU 2014-09, "Revenue from Contracts with Customers", in May 2014. The ASU supersedes revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance in the FASB Accounting Standards Codification. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance identifies specific steps that entities should apply in order to achieve this principle. The FASB continues to issue additional ASU's clarifying the revenue recognition guidance for certain implementation issues. Under the ASU and related amendments, the guidance is effective for interim and annual periods beginning January 1, 2018 and must be applied retrospectively. The Company formed a working group to address the new requirements and develop a project plan for evaluating the impact of the ASU's adoption on the Company's consolidated financial statements, including potential changes to the Company's accounting for brokerage commissions, investment and trust fees, real-estate sales, and credit card loyalty programs.

Derivatives The FASB issued ASU 2014-16, "Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity", in November 2014. The ASU provides guidance relating to certain hybrid financial instruments when determining whether the characteristics of the embedded derivative feature are clearly and closely related to the host contract. In making that evaluation, the characteristics of the entire hybrid instrument should be considered, including the embedded derivative feature that is being evaluated for separate accounting from the host contract. The amendments were effective January 1, 2016, and the adoption did not have a significant effect on the Company's consolidated financial statements.

In March 2016, the FASB issued ASU 2016-05, "Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships", which clarifies that a change in the counterparty to a derivative instruments that has been designated as the hedging

54

instrument does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The amendments are effective January 1, 2017 and are not expected to have a significant effect on the Company's consolidated financial statements.

The FASB issued ASU 2016-06, "Contingent Put and Call Options in Debt Instruments", in March 2016. The ASU clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. Under the new guidance, the embedded options should be assessed solely in accordance with a four-step decision sequence, with no additional assessment of whether the triggering event is indexed to interest rates or credit risk. The amendments are effective January 1, 2017 and are not expected to have a significant effect on the Company's consolidated financial statements.

Consolidation The FASB issued ASU 2015-02, "Amendments to the Consolidation Analysis", in February 2015. The amendments require an evaluation of whether certain legal entities should be consolidated and modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities. The amendments were effective for interim and annual periods beginning January 1, 2016. The adoption did not have a significant effect on the Company's consolidated financial statements.

Intangible Assets The FASB issued ASU 2015-05, "Customer's Accounting for Fees Paid in a Cloud Computing Arrangement", in April 2015. The amendments provide guidance to customers about whether a cloud computing arrangement includes a software license. Arrangements containing a license should be recorded as consistent with the acquisition of software licenses, whereas arrangements that do not include a software license should be recorded as consistent with the accounting for service contracts. These amendments were effective for interim and annual periods beginning January 1, 2016. The adoption did not have a significant effect on the Company's consolidated financial statements.

Financial Instruments The FASB issued ASU 2016-01, "Recognition and Measurement of Financial Assets and Financial Liabilities", in January 2016. The amendments require all equity investments to be measured at fair value with changes in the fair value recognized through net income, other than those accounted for under the equity method of accounting or those that result in the consolidation of the investee. Additionally, these amendments require presentation in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk for those liabilities measured at fair value. The amendments also require use of the exit price notion when measuring the fair value of financial instruments for disclosure purposes. These amendments are effective for interim and annual periods beginning January 1, 2018. The Company is in the process of evaluating the impact of the ASU's adoption on the Company's consolidated financial statements, including potential changes to the Company's note disclosure of the fair value of its loan portfolio.

ASU 2016-13, "Measurement of Credit Losses on Financial Instruments", was issued in June 2016. Its implementation will result in a new loan loss accounting framework, also known as the current expected credit loss (CECL) model. CECL requires credit losses expected throughout the life of the asset portfolio on loans and held-to-maturity securities to be recorded at the time of origination. Under the current incurred loss model, losses are recorded when it is probable that a loss event has occurred. The new standard will require significant operational changes, especially in data collection and analysis. The ASU is effective for interim and annual periods beginning January 1, 2020, and is expected to increase the allowance upon adoption. The Company is in the process of reviewing the capability of its systems and processes to support the data collection and retention required to implement the new standard.

Leases In February 2016, the FASB issued ASU 2016-02, "Leases", in order to increase transparency and comparability by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The ASU primarily affects lessee accounting, which requires the lessee to recognize a right-of-use asset and a liability to make lease payments for those leases classified as operating leases under previous GAAP. For leases with a term of 12 months or less, an election by class of underlying asset not to recognize lease assets and lease liabilities is permitted. The ASU also provides additional guidance as to the definition of a lease, identification of lease components, and sale and leaseback transactions. The amendments in the ASU are effective for interim and annual periods beginning January 1, 2019. The Company is in the process of evaluating the impact of the ASU's adoption on the Company's consolidated financial statements.

Liabilities The FASB issued ASU 2016-04, "Recognition of Breakage for Certain Prepaid Store-Value Products", in March 2016, in order to address current and potential future diversity in practice related to the derecognition of a prepaid store-value product liability. Such products include prepaid gift cards issued on a specific payment network and redeemable at network-accepting merchant locations, prepaid telecommunication cards, and traveler's checks. The amendments require that the portion of the dollar value of prepaid stored-value products that is ultimately unredeemed (that is, the breakage) be accounted for consistent with the breakage guidance for stored-value product transactions provided in ASC Topic 606 - Revenue from Contracts with

55

Customers. These amendments are effective for interim and annual periods beginning January 1, 2018. The Company is in the process of evaluating the impact of the ASU's adoption on the Company's consolidated financial statements.

Investments The FASB issued ASU 2016-07, "Equity Method and Joint Ventures", in March 2016, which eliminates the requirement that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in ownership or influence. Instead, the cost of acquiring the additional interest should be added to the current basis of the previously held interest, and equity method accounting applied prospectively. The amendments are effective January 1, 2017 and are not expected to have a significant effect on the Company's consolidated financial statements.

Stock Compensation The FASB issued ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting", in March 2016, in order to reduce complexity in this area and improve the usefulness of information provided to users. Amendments which will affect public companies include the recognition of excess tax benefits and deficiencies in income tax expense or benefit in the income statement, guidance as to the classification of excess tax benefits on the the statement of cash flows, an election to account for award forfeitures as they occur, and the ability to withhold taxes up to the maximum statutory rate in the applicable jurisdictions without triggering liability classification of the award. The amendments are effective January 1, 2017. The Company is in the process of evaluating the impact of the ASU's adoption on the Company's consolidated financial statements.

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AVERAGE BALANCE SHEETS — AVERAGE RATES AND YIELDS

Three Months Ended June 30, 2016 and 2015

	Second quarter 2016							Second quarter 2015
(Dollars in thousands)	Average Balance			Interest Income/Expense		Avg. Rates Earned/Paid		Average Balance			Interest Income/Expense		Avg. Rates Earned/Paid
ASSETS:
Loans:
Business(A)	$	4,691,476		$	33,862	2.90	%	$	4,135,362		$	28,812	2.79	%
Real estate — construction and land	789,329			6,789		3.46		432,008			3,928		3.65
Real estate — business	2,389,170			21,934		3.69		2,287,885			21,870		3.83
Real estate — personal	1,905,968			17,827		3.76		1,891,109			17,793		3.77
Consumer	1,927,925			18,217		3.80		1,815,699			17,741		3.92
Revolving home equity	413,198			3,687		3.59		429,644			3,851		3.60
Consumer credit card	738,130			21,184		11.54		734,289			21,495		11.74
Overdrafts	3,916			—		—		4,510			—		—
Total loans	12,859,112			123,500		3.86		11,730,506			115,490		3.95
Loans held for sale	56,272			692		4.95		3,969			39		3.94
Investment securities:
U.S. government and federal agency obligations	698,374			6,047		3.48		424,823			6,452		6.09
Government-sponsored enterprise obligations	666,354			5,015		3.03		988,120			4,493		1.82
State and municipal obligations(A)	1,763,849			15,804		3.60		1,799,355			15,665		3.49
Mortgage-backed securities	3,394,466			19,892		2.36		3,161,050			20,557		2.61
Asset-backed securities	2,377,708			8,594		1.45		2,839,483			7,266		1.03
Other marketable securities(A)	337,572			2,325		2.77		249,075			1,618		2.61
Trading securities(A)	20,540			116		2.27		19,758			141		2.86
Non-marketable securities(A)	116,103			2,319		8.03		109,522			2,429		8.90
Total investment securities	9,374,966			60,112		2.58		9,591,186			58,621		2.45
Federal funds sold and short-term securities
purchased under agreements to resell	11,916			19		.64		12,812			15		.47
Long-term securities purchased
under agreements to resell	824,999			3,354		1.64		1,049,999			3,670		1.40
Interest earning deposits with banks	125,024			151		.49		198,407			122		.25
Total interest earning assets	23,252,289			187,828		3.25		22,586,879			177,957		3.16
Allowance for loan losses	(151,622		)					(152,994		)
Unrealized gain on investment securities	191,565							170,039
Cash and due from banks	372,275							380,993
Land, buildings and equipment, net	351,095							360,508
Other assets	389,844							394,100
Total assets	$	24,405,446						$	23,739,525
LIABILITIES AND EQUITY:
Interest bearing deposits:
Savings	$	787,478		224		.11		$	738,769		208		.11
Interest checking and money market	10,287,923			3,324		.13		9,759,608			3,079		.13
Time open & C.D.'s of less than $100,000	758,703			709		.38		844,675			818		.39
Time open & C.D.'s of $100,000 and over	1,635,892			2,347		.58		1,227,322			1,504		.49
Total interest bearing deposits	13,469,996			6,604		.20		12,570,374			5,609		.18
Borrowings:
Federal funds purchased and securities sold
under agreements to repurchase	1,211,892			725		.24		1,674,682			421		.10
Other borrowings	104,649			907		3.49		103,846			890		3.44
Total borrowings	1,316,541			1,632		.50		1,778,528			1,311		.30
Total interest bearing liabilities	14,786,537			8,236		.22	%	14,348,902			6,920		.19	%
Non-interest bearing deposits	6,885,889							6,744,536
Other liabilities	260,179							260,945
Equity	2,472,841							2,385,142
Total liabilities and equity	$	24,405,446						$	23,739,525
Net interest margin (T/E)				$	179,592						$	171,037
Net yield on interest earning assets						3.11	%						3.04	%

(A) Stated on a tax equivalent basis using a federal income tax rate of 35%.

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AVERAGE BALANCE SHEETS — AVERAGE RATES AND YIELDS

Six Months Ended June 30, 2016 and 2015

	Six months 2016							Six months 2015
(Dollars in thousands)	Average Balance			Interest Income/Expense		Avg. Rates Earned/Paid		Average Balance			Interest Income/Expense		Avg. Rates Earned/Paid
ASSETS:
Loans:
Business(A)	$	4,591,516		$	65,955	2.89	%	$	4,083,919		$	56,863	2.81	%
Real estate — construction and land	735,943			12,750		3.48		423,505			7,821		3.72
Real estate — business	2,385,632			43,875		3.70		2,284,848			42,872		3.78
Real estate — personal	1,907,750			35,728		3.77		1,884,382			35,532		3.80
Consumer	1,931,251			36,809		3.83		1,773,656			35,029		3.98
Revolving home equity	421,440			7,448		3.55		430,082			7,707		3.61
Consumer credit card	745,114			42,539		11.48		741,520			42,950		11.68
Overdrafts	4,344			—		—		5,058			—		—
Total loans	12,722,990			245,104		3.87		11,626,970			228,774		3.97
Loans held for sale	32,816			827		5.07		2,916			60		4.15
Investment securities:
U.S. government and federal agency obligations	700,793			6,740		1.93		440,143			475		.22
Government-sponsored enterprise obligations	721,421			8,736		2.44		1,022,701			9,454		1.86
State and municipal obligations(A)	1,741,218			31,446		3.63		1,779,543			31,059		3.52
Mortgage-backed securities	3,409,591			40,728		2.40		3,050,427			39,534		2.61
Asset-backed securities	2,457,590			17,389		1.42		2,988,954			14,086		.95
Other marketable securities(A)	339,977			4,701		2.78		205,099			2,607		2.56
Trading securities(A)	19,365			246		2.55		18,247			254		2.81
Non-marketable securities(A)	121,936			4,396		7.25		108,522			4,800		8.92
Total investment securities	9,511,891			114,382		2.42		9,613,636			102,269		2.15
Federal funds sold and short-term securities
purchased under agreements to resell	14,647			43		.59		12,454			24		.39
Long-term securities purchased
under agreements to resell	837,637			6,829		1.64		1,049,998			6,721		1.29
Interest earning deposits with banks	172,330			421		.49		243,249			301		.25
Total interest earning assets	23,292,311			367,606		3.17		22,549,223			338,149		3.02
Allowance for loan losses	(151,465		)					(154,537		)
Unrealized gain on investment securities	170,442							169,764
Cash and due from banks	396,538							384,784
Land, buildings and equipment, net	354,042							361,074
Other assets	392,485							385,896
Total assets	$	24,454,353						$	23,696,204
LIABILITIES AND EQUITY:
Interest bearing deposits:
Savings	$	774,249		452		.12		$	720,480		411		.12
Interest checking and money market	10,208,233			6,580		.13		9,793,716			6,184		.13
Time open & C.D.'s of less than $100,000	766,962			1,451		.38		856,362			1,698		.40
Time open & C.D.'s of $100,000 and over	1,559,796			4,333		.56		1,253,570			2,914		.47
Total interest bearing deposits	13,309,240			12,816		.19		12,624,128			11,207		.18
Borrowings:
Federal funds purchased and securities sold
under agreements to repurchase	1,308,323			1,613		.25		1,616,722			788		.10
Other borrowings	241,180			2,160		1.80		103,922			1,769		3.43
Total borrowings	1,549,503			3,773		.49		1,720,644			2,557		.30
Total interest bearing liabilities	14,858,743			16,589		.22	%	14,344,772			13,764		.19	%
Non-interest bearing deposits	6,895,781							6,683,164
Other liabilities	257,308							287,407
Equity	2,442,521							2,380,861
Total liabilities and equity	$	24,454,353						$	23,696,204
Net interest margin (T/E)				$	351,017						$	324,385
Net yield on interest earning assets						3.03	%						2.90	%

(A) Stated on a tax equivalent basis using a federal income tax rate of 35%.

58

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Interest rate risk management focuses on maintaining consistent growth in net interest income within Board-approved policy limits. The Company primarily uses earnings simulation models to analyze net interest sensitivity to movement in interest rates. The Company performs monthly simulations which model interest rate movements and risk in accordance with changes to its balance sheet composition. For further discussion of the Company’s market risk, see the Interest Rate Sensitivity section of Management’s Discussion and Analysis of Financial Condition and Results of Operations included in the Company’s 2015 Annual Report on Form 10-K.

The tables below compute the effects of gradual rising interest rates over a twelve month period on the Company’s net interest income, assuming a static balance sheet with the exception of deposit attrition. The difference between the two simulations is the amount of deposit attrition incorporated, which is shown in the tables below. In both simulations, three rising rate scenarios were selected as shown in the tables, and net interest income was calculated and compared to a base scenario in which assets, liabilities and rates remained constant over a twelve month period.  For each of the simulations, interest rates applicable to each interest earning asset or interest bearing liability were ratably increased during the year (by either 100, 200 or 300 basis points).  The balances contained in the balance sheet were assumed not to change over the twelve month period, except that as presented in the tables below, it was assumed certain non-maturity type deposit attrition would occur, as a result of higher interest rates, and would be replaced with short-term federal funds borrowings. 

The simulations reflect two different assumptions related to deposit attrition. The Company utilizes these simulations both for monitoring interest rate risk and for liquidity planning purposes. While the future effects of rising rates on deposit balances cannot be known, the Company maintains a practice of running multiple rate scenarios to better understand interest rate risk and their effect on the Company’s performance.  The Company believes that its approach to interest rate risk has appropriately considered its susceptibility to both rising rates and falling rates and has adopted strategies which minimize impacts to overall interest rate risk.

Simulation A	June 30, 2016							March 31, 2016
(Dollars in millions)	$ Change in Net Interest Income		% Change in Net Interest Income		Assumed Deposit Attrition			$ Change in Net Interest Income		% Change in Net Interest Income		Assumed Deposit Attrition
300 basis points rising	$	27.1	4.11	%	$	(387.2	)	$	20.7	3.04	%	$	(382.6	)
200 basis points rising	23.2		3.52		(274.1		)	18.5		2.73		(270.4		)
100 basis points rising	15.1		2.30		(148.6		)	11.9		1.75		(144.1		)

Simulation B	June 30, 2016							March 31, 2016
(Dollars in millions)	$ Change in Net Interest Income		% Change in Net Interest Income		Assumed Deposit Attrition			$ Change in Net Interest Income			% Change in Net Interest Income		Assumed Deposit Attrition
300 basis points rising	$	4.8	.72	%	$	(1,605.2	)	$	(5.3	)	(.80	)%	$	(1,644.6	)
200 basis points rising	5.5		.83		(1,497.3		)	(2.3		)	(.35	)	(1,538.0		)
100 basis points rising	2.2		.34		(1,379.0		)	(3.8		)	(.58	)	(1,420.2		)

The difference in these two simulations is the degree in which deposits are modeled to decline as noted in the above table.  Both simulations assume that a decline in deposits would be offset by increased short-term borrowings, which are more rate sensitive and can result in higher interest costs in a rising rate environment.  Under Simulation A, a gradual increase in interest rates of 100 basis points is expected to increase net interest income from the base calculation by $15.1 million, while a gradual increase in rates of 200 basis points would increase net interest income by $23.2 million.  An increase in rates of 300 basis points would result an increase in net interest income of $27.1 million.  The change in net interest income from the base calculation at June 30, 2016 was higher than projections made at March 31, 2016 largely due to growth in loans and deposits during the second quarter of 2016 and decreased short-term borrowings at higher rates.  Also, the Company's investment securities portfolio had fewer variable rate securities at June 30, 2016 than at March 31, 2016, which results in the portfolio being less rate sensitive in a rising rate environment and partially offset net interest income increases from loan growth.

Under Simulation B, the same assumptions utilized in Simulation A were applied. However, in Simulation B, deposit attrition was accelerated to consider the effects that large deposit outflows might have on net interest income and liquidity planning purposes.  The effect of higher deposit attrition was that greater reliance was placed on short-term borrowings at higher rates, which are more

59

rate sensitive.  As shown in the table, under these assumptions, net interest income in Simulation B was significantly lower than in Simulation A, reflecting higher costs for short-term borrowings.

Projecting deposit activity in a historically low interest rate environment is difficult, and the Company cannot predict how deposits will react to rising rates.  The comparison provided above provides insight into potential effects of changes in rates and deposit levels on net interest income.

Item 4. CONTROLS AND PROCEDURES

An evaluation was performed under the supervision and with the participation of the Company's management, including the Company's Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of June 30, 2016. Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective. There were no changes in the Company's internal control over financial reporting that occurred during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

60

PART II: OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

The information required by this item is set forth in Part I, Item 1 under Note 15, Legal Proceedings.

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table sets forth information about the Company's purchases of its $5 par value common stock, its only class of common stock registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended.

Period	Total Number of Shares Purchased	Average Price Paid per Share			Total Number of Shares Purchased as part of Publicly Announced Program	Maximum Number that May Yet Be Purchased Under the Program
April 1 — 30, 2016	5,492		$	46.77	5,492	3,811,523
May 1 — 31, 2016	14,311		$	47.60	14,311	3,797,212
June 1 — 30, 2016	1,966		$	46.92	1,966	3,795,246
Total	21,769		$	47.33	21,769	3,795,246

The Company's stock purchases shown above were made under authorizations by the Board of Directors. Under the most recent authorization in October 2015 of 5,000,000 shares, 3,795,246 shares remained available for purchase at June 30, 2016.

Item 6. EXHIBITS

See Index to Exhibits.

61

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

COMMERCE BANCSHARES, INC.
By	/s/  THOMAS J.NOACK
	Thomas J. Noack
	Vice President & Secretary

Date: August 5, 2016

By	/s/  JEFFERY D. ABERDEEN
	Jeffery D. Aberdeen
	Controller
	(Chief Accounting Officer)

Date: August 5, 2016

62

INDEX TO EXHIBITS

31.1 — Certification of CEO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2 — Certification of CFO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32 — Certifications of CEO and CFO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101 — Interactive data files pursuant to Rule 405 of Regulation S-T: (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income, (iii) the Consolidated Statements of Comprehensive Income, (iv) the Consolidated Statements of Changes in Equity, (v) the Consolidated Statements of Cash Flows and (vi) the Notes to Consolidated Financial Statements, tagged as blocks of text and in detail

63

EX-31.1

Exhibit 31.1

CERTIFICATION

I, David W. Kemper, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Commerce Bancshares, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	/s/ DAVID W. KEMPER
	David W. Kemper Chairman and Chief Executive Officer
August 5, 2016

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Charles G. Kim, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Commerce Bancshares, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	/s/ CHARLES G. KIM
	Charles G. Kim Executive Vice President and Chief Financial Officer
August 5, 2016

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Commerce Bancshares, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), we, David W. Kemper and Charles G. Kim, Chief Executive Officer and Chief Financial Officer, respectively, of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of our knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

	/s/ DAVID W. KEMPER
	David W. Kemper Chief Executive Officer
	/s/ CHARLES G. KIM
	Charles G. Kim Chief Financial Officer
August 5, 2016

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q2
Entity Registrant Name	COMMERCE BANCSHARES INC /MO/
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000022356
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		96,563,720

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Loans	$ 13,091,888	$ 12,436,692
Allowance for loan losses	(153,832)	(151,532)
Net loans	12,938,056	12,285,160
Loans held for sale	33,254	7,607
Investment securities:
Available-for-sale Securities	9,221,346	9,777,004
Trading	30,512	11,890
Non-marketable	111,931	112,786
Total investment securities	9,363,789	9,901,680
Federal funds sold and short-term securities purchased under agreements to resell	13,725	14,505
Long-term securities purchased under agreements to resell	825,000	875,000
Interest earning deposits with banks	183,223	23,803
Cash and due from banks	428,300	464,411
Land, buildings and equipment, net	342,237	352,581
Goodwill	138,921	138,921
Other intangible assets, net	6,561	6,669
Other assets	436,627	534,625
Total assets	24,709,693	24,604,962
Deposits:
Non-interest bearing	6,906,265	7,146,398
Savings, interest checking and money market	10,978,734	10,834,746
Time open and C.D.'s of less than $100,000	749,160	785,191
Time open and C.D.'s, $100,000 or More	1,515,888	1,212,518
Total deposits	20,150,047	19,978,853
Federal funds purchased and securities sold under agreements to repurchase	1,632,272	1,963,552
Other Borrowings	103,878	103,818
Other liabilities	296,675	191,321
Total liabilities	22,182,872	22,237,544
Commerce Bancshares, Inc. stockholders' equity:
Preferred stock	144,784	144,784
Common stock	489,862	489,862
Capital surplus	1,333,995	1,337,677
Retained earnings	470,558	383,313
Treasury stock, at cost	(51,707)	(26,116)
Accumulated other comprehensive income	134,424	32,470
Total Commerce Bancshares, Inc. stockholders' equity	2,521,916	2,361,990
Non-controlling interest	4,905	5,428
Total equity	2,526,821	2,367,418
Total liabilities and equity	$ 24,709,693	$ 24,604,962

XML

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Mortgage Loans:
Mortgages Held-for-sale, Fair Value Disclosure	$ 7,094,000	$ 4,981,000
Investment Securities:
Available-for-sale Securities Pledged as Collateral	$ 583,208,000	$ 568,257,000
Stockholders' Equity:
Preferred stock, par value	$ 1.00	$ 1.00
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	6,000	6,000
Common stock, par value	$ 5.00	$ 5.00
Common Stock, Shares Authorized	120,000,000	120,000,000
Common stock, shares issued	97,972,433	97,972,433
Treasury stock, shares	1,244,063	603,003

XML

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016		Jun. 30, 2015
INTEREST INCOME
Interest and fees on loans	$ 121,151	$ 113,467	$ 240,484		$ 224,753
Interest and fees on loans held for sale	692	39	827		60
Interest on investment securities	54,698	53,264	103,589		91,700
Interest on federal funds sold and short-term securities purchased under agreements to resell	19	15	43		24
Interest on long-term securities purchased under agreements to resell	3,354	3,670	6,829		6,721
Interest on deposits with banks	151	122	421		301
Total interest income	180,065	170,577	352,193		323,559
INTEREST EXPENSE
Savings, interest checking and money market	3,548	3,287	7,032		6,595
Time open and C.D.'s of less than $100,000	709	818	1,451		1,698
Time open and C.D.'s of $100,000 and over	2,347	1,504	4,333		2,914
Interest on federal funds purchased and securities sold under agreements to repurchase	725	421	1,613		788
Interest on other borrowings	907	890	2,160		1,769
Total interest expense	8,236	6,920	16,589		13,764
Net interest income	171,829	163,657	335,604		309,795
Provision for loan losses	9,216	6,757	18,655		11,177
Net interest income after provision for loan losses	162,613	156,900	316,949		298,618
NON-INTEREST INCOME
Bank card transaction fees	45,065	45,672	89,535		87,971
Trust fees	31,464	30,531	61,834		60,117
Deposit account charges and other fees	21,328	19,637	42,019		38,136
Capital market fees	2,500	2,738	5,225		5,740
Consumer brokerage services	3,491	3,507	7,000		6,843
Loan fees and sales	3,196	2,183	5,706		4,272
Other	9,526	9,967	24,275		17,730
Total non-interest income	116,570	114,235	235,594		220,809
INVESTMENT SECURITIES GAINS (LOSSES), NET
Investment securities gains (losses), net	(744)	2,143	(1,739)	[1]	8,178	[1]
NON-INTEREST EXPENSE
Salaries and employee benefits	104,808	99,655	211,667		197,729
Net occupancy	11,092	10,999	22,395		22,560
Equipment	4,781	4,679	9,415		9,382
Supplies and communication	5,693	5,226	12,522		10,807
Data processing and software	22,770	21,045	45,669		40,551
Marketing	4,389	4,307	8,202		8,225
Deposit insurance	3,143	3,019	6,308		6,020
Other	20,413	16,533	38,384		34,034
Total non-interest expense	177,089	165,463	354,562		329,308
Income before income taxes	101,350	107,815	196,242		198,297
Less income taxes	31,542	32,492	60,912		60,960
Net income	69,808	75,323	135,330		137,337
Less non-controlling interest expense (income)	(85)	970	63		1,929
Net income attributable to Commerce Bancshares, Inc.	69,893	74,353	135,267		135,408
Preferred Stock Dividends	2,250	2,250	4,500		4,500
Net Income (Loss) Available to Common Stockholders	$ 67,643	$ 72,103	$ 130,767		$ 130,908
Net income per common share - basic	$ 0.70	$ 0.72	$ 1.35		$ 1.30
Net income per common share - diluted	$ 0.70	$ 0.72	$ 1.35		$ 1.30

[1] Available for sale and non-marketable securities

XML

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 69,808	$ 75,323	$ 135,330	$ 137,337
Other comprehensive income (loss)
Net unrealized gains (losses) on securities for which a portion of an other-than-temporary impairment has been recorded in earnings	0	149	(398)	21
Net unrealized gains (losses) on other securities	31,139	(43,483)	101,634	(14,137)
Pension loss amortization	356	406	718	812
Other comprehensive income (loss), net of tax	31,495	(42,928)	101,954	(13,304)
Comprehensive income	101,303	32,395	237,284	124,033
Non-controlling interest expense (income)	(85)	970	63	1,929
Comprehensive income attributable to Commerce Bancshares, Inc	$ 101,388	$ 31,425	$ 237,221	$ 122,104

XML

Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Capital Surplus [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-Controlling Interest [Member]
Balance at Dec. 31, 2014	$ 2,334,246	$ 144,784	$ 484,155	$ 1,229,075	$ 426,648	$ (16,562)	$ 62,093	$ 4,053
Net income	137,337				135,408			1,929
Other comprehensive income (loss)	(13,304)						(13,304)
Distributions to non-controlling interest	(543)							(543)
Purchase of treasury stock	(3,575)					(3,575)
Accelerated stock repurchase agreement	(100,000)			40,000		(140,000)
Issuance of stock under purchase and equity compensation plans	1,890			(14,682)		16,572
Net tax benefit related to equity compensation plans	1,662			1,662
Stock-based compensation	5,252			5,252
Cash dividends per share, Common Stock, Cash	(43,105)				(43,105)
Dividends per share, Preferred Stock, Cash	(4,500)				(4,500)
Balance at Jun. 30, 2015	2,315,360	144,784	484,155	1,261,307	514,451	(143,565)	48,789	5,439
Balance at Dec. 31, 2015	2,367,418	144,784	489,862	1,337,677	383,313	(26,116)	32,470	5,428
Net income	135,330				135,267			63
Other comprehensive income (loss)	101,954						101,954
Distributions to non-controlling interest	(586)							(586)
Purchase of treasury stock	(37,462)					(37,462)
Issuance of stock under purchase and equity compensation plans	(2)			(11,873)		11,871
Net tax benefit related to equity compensation plans	1,904			1,904
Stock-based compensation	6,287			6,287
Cash dividends per share, Common Stock, Cash	(43,522)				(43,522)
Dividends per share, Preferred Stock, Cash	(4,500)				(4,500)
Balance at Jun. 30, 2016	$ 2,526,821	$ 144,784	$ 489,862	$ 1,333,995	$ 470,558	$ (51,707)	$ 134,424	$ 4,905

XML

Consolidated Statements Of Changes In Equity (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, per share, cash paid	$ 0.450	$ 0.429
Preferred Stock, Dividends, per share, cash paid	$ 0.750	$ 0.750

XML

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
OPERATING ACTIVITIES:
Net income		$ 135,330	$ 137,337
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses		18,655	11,177
Provision for depreciation and amortization		20,689	21,287
Amortization of investment security premiums, net		16,014	17,797
Investment securities gains (losses), net	[1]	1,739	(8,178)
Net gains on sales of loans held for sale		(2,994)	(1,234)
Origination of loans held for sale		(70,880)	(50,143)
Proceeds from sales and repayments of held for sale		96,352	43,593
Net (increase) decrease in trading securities, excluding unsettled transactions		81,184	(1,310)
Stock-based compensation		6,287	5,252
(Increase) decrease in interest receivable		60	(618)
Increase (decrease) in interest payable		57	(201)
Increase (decrease) in income taxes payable		73	17,622
Net (excess) tax benefit related to equity compensation plans		(1,904)	(1,662)
Other changes, net		(9,785)	2,842
Net cash provided by (used in) operating activities		290,877	193,561
INVESTING ACTIVITIES:
Proceeds from sales of investment securities	[1]	2,071	683,202
Proceeds from maturities/pay downs of investment securities(A)	[1]	1,109,707	1,323,921
Purchases of investment securities	[1]	(414,154)	(1,710,977)
Net (increase) decrease in loans		(721,274)	(477,902)
Repayments of long-term securities purchased under agreements to resell		50,000	0
Purchases of land, buildings and equipment		(13,649)	(15,523)
Sales of land, buildings and equipment		5,399	3,430
Net cash provided by (used in) investing activities		18,100	(193,849)
FINANCING ACTIVITIES:
Net increase (decrease) in non-interest bearing, savings, interest checking and money market deposits		(38,985)	34,287
Net increase (decrease) in time open and C.D.'s		267,339	(89,049)
Net increase (decrease) in federal funds purchased and short-term securities sold under agreements to repurchase		(331,280)	(196,475)
Repayment of long-term borrowings		(840)	(215)
Additional long-term borrowings		900	0
Purchases of treasury stock		(37,462)	(3,575)
Accelerated stock repurchase agreement net outflow		0	(100,000)
Issuance of stock under equity compensation plans		(2)	1,890
Excess (net) tax benefit related to equity compensation plans		1,904	1,662
Cash dividends paid on common stock		(43,522)	(43,105)
Cash dividends paid on preferred stock		(4,500)	(4,500)
Net cash provided by (used in) financing activities		(186,448)	(399,080)
Increase (decrease) in cash and cash equivalents		122,529	(399,368)
Cash and cash equivalents at beginning of year		502,719	1,100,717
Cash and cash equivalents at end of period		625,248	701,349
Supplemental Cash Flow Information:
Income tax payments, net		59,886	42,077
Interest paid on deposits and borrowings		16,532	13,964
Loans transferred to foreclosed real estate		861	2,133
Transfer of loans held for investment to held for sale		50,360	0
Settlement of accelerated share repurchase agreement and receipt of treasury stock		$ 0	$ 60,000

[1] Available for sale and non-marketable securities

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Principles Of Consolidation And Presentation

6 Months Ended

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles Of Consolidation And Presentation

Principles of Consolidation and Presentation

The accompanying consolidated financial statements include the accounts of Commerce Bancshares, Inc. and all majority-owned subsidiaries (the Company). Most of the Company's operations are conducted by its subsidiary bank, Commerce Bank (the Bank). The consolidated financial statements in this report have not been audited by an independent registered public accounting firm, but in the opinion of management, all adjustments necessary to present fairly the financial position and the results of operations for the interim periods have been made. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications were made to 2015 data to conform to current year presentation. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. Management has evaluated subsequent events for potential recognition or disclosure. The results of operations for the three and six month periods ended June 30, 2016 are not necessarily indicative of results to be attained for the full year or any other interim period.

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's most recent Annual Report on Form 10-K, containing the latest audited consolidated financial statements and notes thereto.

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Loans And Allowance For Loan Losses

6 Months Ended

Jun. 30, 2016

Loans And Allowance For Loan Losses [Abstract]

Loans And Allowance For Loan Losses

Loans and Allowance for Loan Losses

Major classifications within the Company’s held for investment loan portfolio at June 30, 2016 and December 31, 2015 are as follows:

(In thousands)	June 30, 2016		December 31, 2015
Commercial:
Business	$	4,840,248	$	4,397,893
Real estate – construction and land	819,896		624,070
Real estate – business	2,399,271		2,355,544
Personal Banking:
Real estate – personal	1,927,340		1,915,953
Consumer	1,939,486		1,924,365
Revolving home equity	408,301		432,981
Consumer credit card	753,166		779,744
Overdrafts	4,180		6,142
Total loans	$	13,091,888	$	12,436,692

At June 30, 2016, loans of $3.7 billion were pledged at the Federal Home Loan Bank as collateral for borrowings and letters of credit obtained to secure public deposits. Additional loans of $1.6 billion were pledged at the Federal Reserve Bank as collateral for discount window borrowings.

Allowance for loan losses    

A summary of the activity in the allowance for loan losses during the three and six months ended June 30, 2016 and 2015, respectively, follows:

	For the Three Months Ended June 30							For the Six Months Ended June 30
(In thousands)	Commercial			Personal Banking		Total		Commercial			Personal Banking		Total
Balance at beginning of period	$	86,027		$	66,105	$	152,132	$	82,086		$	69,446	$	151,532
Provision	1,569			7,647		9,216		5,720			12,935		18,655
Deductions:
Loans charged off	661			11,984		12,645		2,174			23,761		25,935
Less recoveries on loans	2,263			2,866		5,129		3,566			6,014		9,580
Net loan charge-offs (recoveries)	(1,602		)	9,118		7,516		(1,392		)	17,747		16,355
Balance June 30, 2016	$	89,198		$	64,634	$	153,832	$	89,198		$	64,634	$	153,832
Balance at beginning of period	$	88,906		$	64,626	$	153,532	$	89,622		$	66,910	$	156,532
Provision	(2,361		)	9,118		6,757		(4,113		)	15,290		11,177
Deductions:
Loans charged off	1,408			11,297		12,705		2,132			22,873		25,005
Less recoveries on loans	1,192			2,756		3,948		2,952			5,876		8,828
Net loan charge-offs (recoveries)	216			8,541		8,757		(820		)	16,997		16,177
Balance June 30, 2015	$	86,329		$	65,203	$	151,532	$	86,329		$	65,203	$	151,532

The following table shows the balance in the allowance for loan losses and the related loan balance at June 30, 2016 and December 31, 2015, disaggregated on the basis of impairment methodology. Impaired loans evaluated under ASC 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans discussed below, which are deemed to have similar risk characteristics and are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.

	Impaired Loans				All Other Loans
(In thousands)	Allowance for Loan Losses		Loans Outstanding		Allowance for Loan Losses		Loans Outstanding
June 30, 2016
Commercial	$	1,571	$	49,695	$	87,627	$	8,009,720
Personal Banking	1,333		21,498		63,301		5,010,975
Total	$	2,904	$	71,193	$	150,928	$	13,020,695
December 31, 2015
Commercial	$	1,927	$	43,027	$	80,159	$	7,334,480
Personal Banking	1,557		22,287		67,889		5,036,898
Total	$	3,484	$	65,314	$	148,048	$	12,371,378

Impaired loans

The table below shows the Company’s investment in impaired loans at June 30, 2016 and December 31, 2015. These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section on page 14.

(In thousands)	June 30, 2016		Dec. 31, 2015
Non-accrual loans	$	24,524	$	26,575
Restructured loans (accruing)	46,669		38,739
Total impaired loans	$	71,193	$	65,314

The following table provides additional information about impaired loans held by the Company at June 30, 2016 and December 31, 2015, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
June 30, 2016
With no related allowance recorded:
Business	$	11,777	$	15,217	$	—
Real estate – construction and land	2,160		3,462		—
Real estate – business	3,072		3,261		—
Real estate – personal	352		373		—
	$	17,361	$	22,313	$	—
With an allowance recorded:
Business	$	24,905	$	25,639	$	1,059
Real estate – construction and land	160		162		7
Real estate – business	7,621		9,145		505
Real estate – personal	7,419		10,310		694
Consumer	5,596		5,596		68
Revolving home equity	400		447		21
Consumer credit card	7,731		7,731		550
	$	53,832	$	59,030	$	2,904
Total	$	71,193	$	81,343	$	2,904
December 31, 2015
With no related allowance recorded:
Business	$	9,330	$	11,777	$	—
Real estate – construction and land	2,961		8,956		—
Real estate – business	4,793		6,264		—
Real estate – personal	373		373		—
	$	17,457	$	27,370	$	—
With an allowance recorded:
Business	$	18,227	$	20,031	$	1,119
Real estate – construction and land	1,227		2,804		63
Real estate – business	6,489		9,008		745
Real estate – personal	7,667		10,530		831
Consumer	5,599		5,599		63
Revolving home equity	704		852		67
Consumer credit card	7,944		7,944		596
	$	47,857	$	56,768	$	3,484
Total	$	65,314	$	84,138	$	3,484

Total average impaired loans for the three and six month periods ended June 30, 2016 and 2015, respectively, are shown in the table below.

(In thousands)	Commercial		Personal Banking		Total
Average Impaired Loans:
For the three months ended June 30, 2016
Non-accrual loans	$	22,098	$	4,461	$	26,559
Restructured loans (accruing)	28,775		17,297		46,072
Total	$	50,873	$	21,758	$	72,631
For the six months ended June 30, 2016
Non-accrual loans	$	21,551	$	4,542	$	26,093
Restructured loans (accruing)	27,977		17,499		45,476
Total	$	49,528	$	22,041	$	71,569
For the three months ended June 30, 2015
Non-accrual loans	$	25,063	$	5,948	$	31,011
Restructured loans (accruing)	14,254		18,968		33,222
Total	$	39,317	$	24,916	$	64,233
For the six months ended June 30, 2015
Non-accrual loans	$	28,155	$	6,102	$	34,257
Restructured loans (accruing)	18,245		19,176		37,421
Total	$	46,400	$	25,278	$	71,678

The table below shows interest income recognized during the three and six month periods ended June 30, 2016 and 2015, respectively, for impaired loans held at the end of each respective period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section on page 14.

	For the Three Months Ended June 30				For the Six Months Ended June 30
(In thousands)	2016		2015		2016		2015
Interest income recognized on impaired loans:
Business	$	236	$	42	$	472	$	84
Real estate – construction and land	3		42		5		84
Real estate – business	56		15		112		30
Real estate – personal	42		48		84		96
Consumer	89		85		177		169
Revolving home equity	4		6		7		11
Consumer credit card	159		179		318		357
Total	$	589	$	417	$	1,175	$	831

Delinquent and non-accrual loans

The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at June 30, 2016 and December 31, 2015.

(In thousands)	Current or Less Than 30 Days Past Due		30 – 89 Days Past Due		90 Days Past Due and Still Accruing		Non-accrual		Total
June 30, 2016
Commercial:
Business	$	4,815,328	$	11,924	$	280	$	12,716	$	4,840,248
Real estate – construction and land	815,890		1,836		—		2,170		819,896
Real estate – business	2,388,292		3,743		2,000		5,236		2,399,271
Personal Banking:
Real estate – personal	1,913,469		7,083		2,495		4,293		1,927,340
Consumer	1,919,044		17,896		2,546		—		1,939,486
Revolving home equity	403,831		2,993		1,368		109		408,301
Consumer credit card	737,946		8,017		7,203		—		753,166
Overdrafts	3,917		263		—		—		4,180
Total	$	12,997,717	$	53,755	$	15,892	$	24,524	$	13,091,888
December 31, 2015
Commercial:
Business	$	4,384,149	$	2,306	$	564	$	10,874	$	4,397,893
Real estate – construction and land	617,838		3,142		—		3,090		624,070
Real estate – business	2,340,919		6,762		—		7,863		2,355,544
Personal Banking:
Real estate – personal	1,901,330		7,117		3,081		4,425		1,915,953
Consumer	1,903,389		18,273		2,703		—		1,924,365
Revolving home equity	427,998		2,641		2,019		323		432,981
Consumer credit card	762,750		8,894		8,100		—		779,744
Overdrafts	5,834		308		—		—		6,142
Total	$	12,344,207	$	49,443	$	16,467	$	26,575	$	12,436,692

Credit quality

The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is applied to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.

Commercial Loans
(In thousands)	Business		Real  Estate-Construction		Real Estate- Business		Total
June 30, 2016
Pass	$	4,702,346	$	808,815	$	2,318,106	$	7,829,267
Special mention	66,786		8,561		24,770		100,117
Substandard	58,400		350		51,159		109,909
Non-accrual	12,716		2,170		5,236		20,122
Total	$	4,840,248	$	819,896	$	2,399,271	$	8,059,415
December 31, 2015
Pass	$	4,278,857	$	618,788	$	2,281,565	$	7,179,210
Special mention	49,302		1,033		15,009		65,344
Substandard	58,860		1,159		51,107		111,126
Non-accrual	10,874		3,090		7,863		21,827
Total	$	4,397,893	$	624,070	$	2,355,544	$	7,377,507

The credit quality of Personal Banking loans is monitored primarily on the basis of aging/delinquency, and this information is provided in the table in the above "Delinquent and non-accrual loans" section. In addition, FICO scores are obtained and updated on a quarterly basis for most of the loans in the Personal Banking portfolio. This is a published credit score designed to measure the risk of default by taking into account various factors from a borrower's financial history. The Bank normally obtains a FICO score at the loan's origination and renewal dates, and updates are obtained on a quarterly basis. Excluded from the table below are certain Personal Banking loans for which FICO scores are not obtained because they generally pertain to commercial customer activities and are often underwritten with other collateral considerations. At June 30, 2016, these were comprised of $259.7 million in personal real estate loans, or 5.2% of the Personal Banking portfolio, compared to $257.8 million at December 31, 2015. For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at June 30, 2016 and December 31, 2015 by FICO score.

Personal Banking Loans
	% of Loan Category
	Real Estate - Personal		Consumer		Revolving Home Equity		Consumer Credit Card
June 30, 2016
FICO score:
Under 600	1.5	%	4.3	%	1.3	%	4.0	%
600 - 659	2.8		8.9		3.9		11.8
660 - 719	9.6		21.6		13.4		31.4
720 - 779	24.4		26.2		28.4		28.0
780 and over	61.7		39.0		53.0		24.8
Total	100.0	%	100.0	%	100.0	%	100.0	%
December 31, 2015
FICO score:
Under 600	1.5	%	4.5	%	1.5	%	3.9	%
600 - 659	3.0		9.7		3.9		12.0
660 - 719	9.1		21.8		13.6		31.7
720 - 779	25.0		26.4		28.4		27.9
780 and over	61.4		37.6		52.6		24.5
Total	100.0	%	100.0	%	100.0	%	100.0	%

Troubled debt restructurings

As mentioned previously, the Company's impaired loans include loans which have been classified as troubled debt restructurings. Total restructured loans amounted to $61.5 million at June 30, 2016. Restructured loans are those extended to borrowers who are experiencing financial difficulty and who have been granted a concession. Restructured loans are placed on non-accrual status if the Company does not believe it probable that amounts due under the contractual terms will be collected, and those non-accrual loans totaled $14.8 million at June 30, 2016. Other performing restructured loans totaled $46.7 million at June 30, 2016. These include certain business, construction and business real estate loans classified as substandard. Upon maturity, the loans renewed at interest rates judged not to be market rates for new debt with similar risk and as a result the loans were classified as troubled debt restructurings. These commercial loans totaled $30.3 million at June 30, 2016. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. Troubled debt restructurings also include certain credit card loans under various debt management and assistance programs, which totaled $7.7 million at June 30, 2016. Modifications to credit card loans generally involve removing the available line of credit, placing loans on amortizing status, and lowering the contractual interest rate. The Company has classified additional loans as troubled debt restructurings because they were not reaffirmed by the borrower in bankruptcy proceedings. At June 30, 2016, these loans totaled $8.3 million in personal real estate, revolving home equity, and consumer loans. Interest on these loans is being recognized on an accrual basis, as the borrowers are continuing to make payments under the terms of the loan agreements.

The following table shows the outstanding balances of loans classified as troubled debt restructurings at June 30, 2016, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.

(In thousands)	June 30, 2016		Balance 90 days past due at any time during previous 12 months
Commercial:
Business	$	35,833	$	—
Real estate - construction and land	1,736		—
Real estate - business	5,457		—
Personal Banking:
Real estate - personal	4,823		683
Consumer	5,619		57
Revolving home equity	291		33
Consumer credit card	7,731		504
Total restructured loans	$	61,490	$	1,277

For those loans on non-accrual status also classified as restructured, the modification did not create any further financial effect on the Company as those loans were already recorded at net realizable value. For those performing commercial loans classified as restructured, there were no concessions involving forgiveness of principal or interest and, therefore, there was no financial impact to the Company as a result of modification to these loans. No financial impact resulted from those performing loans where the debt was not reaffirmed in bankruptcy, as no changes to loan terms occurred in that process. The effects of modifications to consumer credit card loans were estimated to decrease interest income by approximately $970 thousand on an annual, pre-tax basis, compared to amounts contractually owed.

The allowance for loan losses related to troubled debt restructurings on non-accrual status is determined by individual evaluation, including collateral adequacy, using the same process as loans on non-accrual status which are not classified as troubled debt restructurings. Those performing loans classified as troubled debt restructurings are accruing loans which management expects to collect under contractual terms. Performing commercial loans have had no other concessions granted other than being renewed at an interest rate judged not to be market. As such, they have similar risk characteristics as non-troubled debt commercial loans and are collectively evaluated based on internal risk rating, loan type, delinquency, historical experience and current economic factors. Performing personal banking loans classified as troubled debt restructurings resulted from the borrower not reaffirming the debt during bankruptcy and have had no other concession granted, other than the Bank's future limitations on collecting payment deficiencies or in pursuing foreclosure actions. As such, they have similar risk characteristics as non-troubled debt personal banking loans and are evaluated collectively based on loan type, delinquency, historical experience and current economic factors.

If a troubled debt restructuring defaults and is already on non-accrual status, the allowance for loan losses continues to be based on individual evaluation, using discounted expected cash flows or the fair value of collateral. If an accruing troubled debt restructuring defaults, the loan's risk rating is downgraded to non-accrual status and the loan's related allowance for loan losses is determined based on individual evaluation, or if necessary, the loan is charged off and collection efforts begun.

The Company had commitments of $11.6 million at June 30, 2016 to lend additional funds to borrowers with restructured loans.

Loans held for sale

Beginning January 1, 2015, certain long-term fixed rate personal real estate loan originations have been designated as held for sale, and the Company has elected the fair value option for these loans. The election of the fair value option aligns the accounting for these loans with the related economic hedges discussed in Note 10. At June 30, 2016, the fair value of these loans was $7.1 million, and the unpaid principal balance was $6.8 million.

Beginning in the third quarter of 2015, the Company has designated certain student loan originations as held for sale. The borrowers are credit-worthy students who are attending colleges and universities. The loans are intended to be sold in the secondary market, and the Company maintains contracts with Sallie Mae to sell the loans at various times while the student is attending school or shortly after graduation. At June 30, 2016, the balance of these loans was $5.3 million. These loans are carried at lower of cost or fair value.

In March 2016, the Company designated certain loans secured by automobiles, totaling $50.4 million, as held for sale. This amount approximated nearly 5% of the total auto loan portfolio and was initiated in order to rebalance the auto loan portfolio in relation to the Company's other loan categories. The group of loans held for sale are representative of the overall auto loan portfolio. The loans are being marketed to other financial institutions such as regional banks and credit unions, and in June 2016, loans of $21.8 million were sold and a gain of $114 thousand was recorded, bringing the balance at June 30, 2016 to $20.8 million. These loans are carried at lower of cost or fair value.

At June 30, 2016, none of the loans held for sale were on non-accrual status, and $22 thousand were 90 days past due and still accruing. Interest income with respect to loans held for sale is accrued based on the principal amount outstanding and the loan's contractual interest rate. Gains and losses in fair value resulting from the application of the fair value option, or lower of cost or fair value accounting, are recognized in loan fees and sales in the consolidated statements of income.

Foreclosed real estate/repossessed assets

The Company’s holdings of foreclosed real estate totaled $1.6 million and $2.8 million at June 30, 2016 and December 31, 2015, respectively. Personal property acquired in repossession, generally autos and marine and recreational vehicles, totaled $2.8 million and $3.3 million at June 30, 2016 and December 31, 2015, respectively. Upon acquisition, these assets are recorded at fair value less estimated selling costs at the date of foreclosure, establishing a new cost basis. They are subsequently carried at the lower of this cost basis or fair value less estimated selling costs.

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Investment Securities

6 Months Ended

Jun. 30, 2016

Investment Securities [Abstract]

Investment Securities

Investment Securities

Investment securities, at fair value, consisted of the following at June 30, 2016 and December 31, 2015.

(In thousands)	June 30, 2016		Dec. 31, 2015
Available for sale	$	9,221,346	$	9,777,004
Trading	30,512		11,890
Non-marketable	111,931		112,786
Total investment securities	$	9,363,789	$	9,901,680

Most of the Company’s investment securities are classified as available for sale, and this portfolio is discussed in more detail below. The available for sale and the trading portfolios are carried at fair value. Securities which are classified as non-marketable include Federal Home Loan Bank (FHLB) stock and Federal Reserve Bank stock held for debt and regulatory purposes, which totaled $46.9 million at June 30, 2016 and $46.8 million at December 31, 2015. Investment in Federal Reserve Bank stock is based on the capital structure of the investing bank, and investment in FHLB stock is tied to the level of borrowings from the FHLB. These holdings are carried at cost. Non-marketable securities also include private equity investments, which amounted to $64.7 million at June 30, 2016 and $65.6 million at December 31, 2015. In the absence of readily ascertainable market values, these securities are carried at estimated fair value.

A summary of the available for sale investment securities by maturity groupings as of June 30, 2016 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, GNMA and FDIC, in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral.

(In thousands)	Amortized Cost		Fair Value
U.S. government and federal agency obligations:
Within 1 year	$	59,365	$	59,898
After 1 but within 5 years	499,992		517,665
After 5 but within 10 years	105,802		109,977
After 10 years	35,642		33,379
Total U.S. government and federal agency obligations	700,801		720,919
Government-sponsored enterprise obligations:
Within 1 year	81,208		81,302
After 1 but within 5 years	452,204		459,978
After 5 but within 10 years	14,988		15,260
After 10 years	5,630		5,637
Total government-sponsored enterprise obligations	554,030		562,177
State and municipal obligations:
Within 1 year	135,577		136,305
After 1 but within 5 years	642,897		662,010
After 5 but within 10 years	923,727		971,348
After 10 years	61,917		64,198
Total state and municipal obligations	1,764,118		1,833,861
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,509,991		2,589,915
Non-agency mortgage-backed securities	814,917		831,616
Asset-backed securities	2,293,845		2,298,725
Total mortgage and asset-backed securities	5,618,753		5,720,256
Other debt securities:
Within 1 year	5,996		6,052
After 1 but within 5 years	88,771		90,755
After 5 but within 10 years	222,737		231,176
After 10 years	11,588		11,281
Total other debt securities	329,092		339,264
Equity securities	5,678		44,869
Total available for sale investment securities	$	8,972,472	$	9,221,346

Investments in U.S. government and federal agency obligations include U.S. Treasury inflation-protected securities, which totaled $400.5 million, at fair value, at June 30, 2016. Interest paid on these securities increases with inflation and decreases with deflation, as measured by the Consumer Price Index. Included in equity securities is common and preferred stock held by the holding company, Commerce Bancshares, Inc. (the Parent), with a fair value of $44.8 million at June 30, 2016.

For securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in accumulated other comprehensive income, by security type.

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2016
U.S. government and federal agency obligations	$	700,801	$	22,381	$	(2,263	)	$	720,919
Government-sponsored enterprise obligations	554,030		8,147		—			562,177
State and municipal obligations	1,764,118		70,435		(692		)	1,833,861
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,509,991		79,952		(28		)	2,589,915
Non-agency mortgage-backed securities	814,917		16,803		(104		)	831,616
Asset-backed securities	2,293,845		15,664		(10,784		)	2,298,725
Total mortgage and asset-backed securities	5,618,753		112,419		(10,916		)	5,720,256
Other debt securities	329,092		10,546		(374		)	339,264
Equity securities	5,678		39,191		—			44,869
Total	$	8,972,472	$	263,119	$	(14,245	)	$	9,221,346
December 31, 2015
U.S. government and federal agency obligations	$	729,846	$	5,051	$	(7,821	)	$	727,076
Government-sponsored enterprise obligations	794,912		2,657		(4,546		)	793,023
State and municipal obligations	1,706,635		37,061		(1,739		)	1,741,957
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,579,031		47,856		(8,606		)	2,618,281
Non-agency mortgage-backed securities	879,186		8,596		(7,819		)	879,963
Asset-backed securities	2,660,201		1,287		(17,107		)	2,644,381
Total mortgage and asset-backed securities	6,118,418		57,739		(33,532		)	6,142,625
Other debt securities	335,925		377		(4,982		)	331,320
Equity securities	5,678		35,325		—			41,003
Total	$	9,691,414	$	138,210	$	(52,620	)	$	9,777,004

The Company’s impairment policy requires a review of all securities for which fair value is less than amortized cost. Special emphasis and analysis is placed on securities whose credit rating has fallen below A3 (Moody's) or A- (Standard & Poor's), whose fair values have fallen more than 20% below purchase price for an extended period of time, or have been identified based on management’s judgment. These securities are placed on a watch list, and for all such securities, detailed cash flow models are prepared which use inputs specific to each security. Inputs to these models include factors such as cash flow received, contractual payments required, and various other information related to the underlying collateral (including current delinquencies), collateral loss severity rates (including loan to values), expected delinquency rates, credit support from other tranches, and prepayment speeds. Stress tests are performed at varying levels of delinquency rates, prepayment speeds and loss severities in order to gauge probable ranges of credit loss. At June 30, 2016, the fair value of securities on this watch list was $78.9 million compared to $95.8 million at December 31, 2015.

As of June 30, 2016, the Company had recorded other-than-temporary impairment (OTTI) on certain non-agency mortgage-backed securities, part of the watch list mentioned above, which had an aggregate fair value of $37.1 million. The cumulative credit-related portion of the impairment on these securities, which was recorded in earnings, totaled $14.4 million. The Company does not intend to sell these securities and believes it is not likely that it will be required to sell the securities before the recovery of their amortized cost.

The credit-related portion of the loss on these securities was based on the cash flows projected to be received over the estimated life of the securities, discounted to present value, and compared to the current amortized cost bases of the securities. Significant inputs to the cash flow models used to calculate the credit losses on these securities at June 30, 2016 included the following:

Significant Inputs	Range
Prepayment CPR	0%	-	25%
Projected cumulative default	17%	-	52%
Credit support	0%	-	27%
Loss severity	18%	-	63%

The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings on all available for sale debt securities.

	For the Six Months Ended June 30
(In thousands)	2016			2015
Cumulative OTTI credit losses at January 1	$	14,129		$	13,734
Credit losses on debt securities for which impairment was not previously recognized	—			76
Credit losses on debt securities for which impairment was previously recognized	270			407
Increase in expected cash flows that are recognized over remaining life of security	(37		)	(51		)
Cumulative OTTI credit losses at June 30	$	14,362		$	14,166

Securities with unrealized losses recorded in accumulated other comprehensive income are shown in the table below, along with the length of the impairment period.

	Less than 12 months				12 months or longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
June 30, 2016
U.S. government and federal agency obligations	$	—	$	—	$	33,379	$	2,263	$	33,379	$	2,263
State and municipal obligations	17,375		334		9,478		358		26,853		692
Mortgage and asset-backed securities:
Agency mortgage-backed securities	14,257		22		2,611		6		16,868		28
Non-agency mortgage-backed securities	3,790		2		57,411		102		61,201		104
Asset-backed securities	529,895		6,782		189,558		4,002		719,453		10,784
Total mortgage and asset-backed securities	547,942		6,806		249,580		4,110		797,522		10,916
Other debt securities	—		—		19,685		374		19,685		374
Total	$	565,317	$	7,140	$	312,122	$	7,105	$	877,439	$	14,245
December 31, 2015
U.S. government and federal agency obligations	$	491,998	$	3,098	$	31,012	$	4,723	$	523,010	$	7,821
Government-sponsored enterprise obligations	157,830		1,975		110,250		2,571		268,080		4,546
State and municipal obligations	66,998		544		31,120		1,195		98,118		1,739
Mortgage and asset-backed securities:
Agency mortgage-backed securities	530,035		2,989		291,902		5,617		821,937		8,606
Non-agency mortgage-backed securities	653,603		7,059		54,536		760		708,139		7,819
Asset-backed securities	2,207,922		12,492		223,311		4,615		2,431,233		17,107
Total mortgage and asset-backed securities	3,391,560		22,540		569,749		10,992		3,961,309		33,532
Other debt securities	244,452		3,687		25,218		1,295		269,670		4,982
Total	$	4,352,838	$	31,844	$	767,349	$	20,776	$	5,120,187	$	52,620

The total available for sale portfolio consisted of approximately 2,000 individual securities at June 30, 2016. The portfolio included 145 securities, having an aggregate fair value of $877.4 million, that were in an unrealized loss position at June 30, 2016, compared to 466 securities, with a fair value of $5.1 billion, at December 31, 2015. The total amount of unrealized losses on these securities decreased $38.4 million to $14.2 million at June 30, 2016, largely due to a lower rate environment. At June 30, 2016, the fair value of securities in an unrealized loss position for 12 months or longer totaled $312.1 million, or 3.4% of the total portfolio value.

The Company’s holdings of state and municipal obligations included gross unrealized losses of $692 thousand at June 30, 2016, most of which related to auction rate securities. This portfolio totaled $1.8 billion at fair value, or 19.9% of total available for sale securities. The average credit quality of the portfolio, excluding auction rate securities, is Aa2 as rated by Moody’s. The portfolio is diversified in order to reduce risk, and the Company has processes and procedures in place to monitor its holdings, identify signs of financial distress and, if necessary, exit its positions in a timely manner.

The following table presents proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings.

	For the Six Months Ended June 30
(In thousands)	2016			2015
Proceeds from sales of available for sale securities	$	—		$	675,870
Proceeds from sales of non-marketable securities	2,071			7,332
Total proceeds	$	2,071		$	683,202
Available for sale:
Gains realized on sales	$	—		$	2,813
Other-than-temporary impairment recognized on debt securities	(270		)	(483		)
Non-marketable:
Gains realized on sales	2,260			1,673
Fair value adjustments, net	(3,729		)	4,175
Investment securities gains (losses), net	$	(1,739	)	$	8,178

At June 30, 2016, securities totaling $4.6 billion in fair value were pledged to secure public fund deposits, securities sold under agreements to repurchase, trust funds, and borrowings at the Federal Reserve Bank and FHLB. Securities pledged under agreements pursuant to which the collateral may be sold or re-pledged by the secured parties approximated $583.2 million, while the remaining securities were pledged under agreements pursuant to which the secured parties may not sell or re-pledge the collateral. Except for obligations of various government-sponsored enterprises such as FNMA, FHLB and FHLMC, no investment in a single issuer exceeded 10% of stockholders’ equity.

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Goodwill And Other Intangible Assets

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets

Goodwill and Other Intangible Assets

The following table presents information about the Company's intangible assets which have estimable useful lives.

	June 30, 2016										December 31, 2015
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount		Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount
Amortizable intangible assets:
Core deposit premium	$	31,270	$	(26,900	)	$	—		$	4,370	$	31,270	$	(26,239	)	$	—		$	5,031
Mortgage servicing rights	4,821		(2,599		)	(31		)	2,191		4,638		(2,971		)	(29		)	1,638
Total	$	36,091	$	(29,499	)	$	(31	)	$	6,561	$	35,908	$	(29,210	)	$	(29	)	$	6,669

Aggregate amortization expense on intangible assets was $399 thousand and $472 thousand for the three month periods ended June 30, 2016 and 2015, respectively, and $794 thousand and $945 thousand for the six month periods ended June 30, 2016 and 2015, respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of June 30, 2016. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.

(In thousands)
2016	$	1,527
2017	1,162
2018	892
2019	737
2020	602

Changes in the carrying amount of goodwill and net other intangible assets for the six month period endedJune 30, 2016 is as follows:

(In thousands)	Goodwill		Core Deposit Premium			Mortgage Servicing Rights
Balance January 1, 2016	$	138,921	$	5,031		$	1,638
Originations	—		—			688
Amortization	—		(661		)	(133		)
Impairment	—		—			(2		)
Balance June 30, 2016	$	138,921	$	4,370		$	2,191

Goodwill allocated to the Company’s operating segments at June 30, 2016 and December 31, 2015 is shown below.

(In thousands)
Consumer segment	$	70,721
Commercial segment	67,454
Wealth segment	746
Total goodwill	$	138,921

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Guarantees

6 Months Ended

Jun. 30, 2016

Guarantees [Abstract]

Guarantees

Guarantees

The Company, as a provider of financial services, routinely issues financial guarantees in the form of financial and performance standby letters of credit. Standby letters of credit are contingent commitments issued by the Company generally to guarantee the payment or performance obligation of a customer to a third party. While these represent a potential outlay by the Company, a significant amount of the commitments may expire without being drawn upon. The Company has recourse against the customer for any amount it is required to pay to a third party under a standby letter of credit. The letters of credit are subject to the same credit policies, underwriting standards and approval process as loans made by the Company. Most of the standby letters of credit are secured, and in the event of nonperformance by customers, the Company has rights to the underlying collateral, which could include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities.

Upon issuance of standby letters of credit, the Company recognizes a liability for the fair value of the obligation undertaken, which is estimated to be equivalent to the amount of fees received from the customer over the life of the agreement. At June 30, 2016, that net liability was $2.6 million, which will be accreted into income over the remaining life of the respective commitments. The contractual amount of these letters of credit, which represents the maximum potential future payments guaranteed by the Company, was $359.0 million at June 30, 2016.

The Company periodically enters into credit risk participation agreements (RPAs) as a guarantor to other financial institutions, in order to mitigate those institutions’ credit risk associated with interest rate swaps with third parties. The RPA stipulates that, in the event of default by the third party on the interest rate swap, the Company will reimburse a portion of the loss borne by the financial institution. These interest rate swaps are normally collateralized (generally with real property, inventories and equipment) by the third party, which limits the credit risk associated with the Company’s RPAs. The third parties usually have other borrowing relationships with the Company. The Company monitors overall borrower collateral and at June 30, 2016, believes sufficient collateral is available to cover potential swap losses. The RPAs are carried at fair value throughout their term with all changes in fair value, including those due to a change in the third party’s creditworthiness, recorded in current earnings. The terms of the RPAs, which correspond to the terms of the underlying swaps, range from 3 to 11 years. At June 30, 2016, the fair value of the Company's guarantee liabilities for RPAs was $289 thousand, and the notional amount of the underlying swaps was $58.0 million. The maximum potential future payment guaranteed by the Company cannot be readily estimated but is dependent upon the fair value of the interest rate swaps at the time of default.

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Pension

6 Months Ended

Jun. 30, 2016

Pension [Abstract]

Pension

Pension

The amount of net pension cost is shown in the table below:

	For the Three Months Ended June 30						For the Six Months Ended June 30
(In thousands)	2016			2015			2016			2015
Service cost - benefits earned during the period	$	138		$	126		$	271		$	252
Interest cost on projected benefit obligation	1,005			1,216			1,972			2,432
Expected return on plan assets	(1,439		)	(1,523		)	(2,876		)	(3,046		)
Amortization of prior service cost	(67		)	—			(135		)	—
Amortization of unrecognized net loss	642			654			1,293			1,309
Net periodic pension cost	$	279		$	473		$	525		$	947

Substantially all benefits accrued under the Company’s defined benefit pension plan were frozen effective January 1, 2005, and the remaining benefits were frozen effective January 1, 2011. During the first six months of 2016, the Company made no funding contributions to its defined benefit pension plan and made minimal funding contributions to a supplemental executive retirement plan (the CERP), which carries no segregated assets. The Company has no plans to make any further contributions, other than those related to the CERP, during the remainder of 2016.

Effective January 1, 2016, the Company changed the method used to estimate the interest cost component of net periodic pension cost for its defined benefit pension plan. Prior to the change, the interest cost component was estimated by utilizing a single weighted average discount rate derived from the yield curve used to measure the projected benefit obligation. Under the new method, the interest cost component is estimated by applying the specific annual spot rates along the yield curve used in the determination of the projected benefit obligation to the relevant projected cash flows. This change provides a more precise measurement of the interest cost by improving the correlation between projected benefit cash flows and the corresponding spot yield curve rates. The Company accounted for this change prospectively as a change in accounting estimate. The change resulted in a decrease of approximately $851 thousand in the estimated annual net periodic pension cost for 2016.

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Common Stock

6 Months Ended

Jun. 30, 2016

Common Stock [Abstract]

Common Stock

Common and Preferred Stock *

Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 12.

	For the Three Months Ended June 30				For the Six Months Ended June 30
(In thousands, except per share data)	2016		2015		2016		2015
Basic income per common share:
Net income available to common shareholders	$	67,643	$	72,103	$	130,767	$	130,908
Less income allocated to nonvested restricted stock	940		997		1,834		1,793
Net income allocated to common stock	$	66,703	$	71,106	$	128,933	$	129,115
Weighted average common shares outstanding	95,382		99,099		95,474		99,573
Basic income per common share	$	.70	$	.72	$	1.35	$	1.30
Diluted income per common share:
Net income available to common shareholders	$	67,643	$	72,103	$	130,767	$	130,908
Less income allocated to nonvested restricted stock	938		995		1,831		1,789
Net income allocated to common stock	$	66,705	$	71,108	$	128,936	$	129,119
Weighted average common shares outstanding	95,382		99,099		95,474		99,573
Net effect of the assumed exercise of stock-based awards - based on
the treasury stock method using the average market price for the respective periods	249		338		232		327
Weighted average diluted common shares outstanding	95,631		99,437		95,706		99,900
Diluted income per common share	$	.70	$	.72	$	1.35	$	1.30

Unexercised stock options and stock appreciation rights of 198 thousand and 377 thousand were excluded in the computation of diluted income per common share for the six month periods ended June 30, 2016 and 2015, respectively, because their inclusion would have been anti-dilutive.

The Company also has 6,000,000 depositary shares outstanding, representing 6,000 shares of 6.00% Series B Non-Cumulative Perpetual Preferred Stock, par value $1.00 per share, having an aggregate liquidation preference of $150.0 million (“Series B Preferred Stock”). Each depositary share has a liquidation preference of $25.00 per share. Dividends on the Series B Preferred Stock, if declared, accrue and are payable quarterly, in arrears, at a rate of 6.00%. The Series B Preferred Stock qualifies as Tier 1 capital for the purposes of the regulatory capital calculations. In the event that the Company does not declare and pay dividends on the Series B Preferred Stock for the most recent dividend period, the ability of the Company to declare or pay dividends on, purchase, redeem or otherwise acquire shares of its common stock or any securities of the Company that rank junior to the Series B Preferred Stock is subject to certain restrictions under the terms of the Series B Preferred Stock.

* All prior year share and per share amounts in this note have been restated for the 5% common stock dividend distributed in December 2015.

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Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2016

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

The table below shows the activity and accumulated balances for components of other comprehensive income. The largest component is the unrealized holding gains and losses on available for sale securities. Unrealized gains and losses on debt securities for which an other-than-temporary impairment (OTTI) has been recorded in current earnings are shown separately below. The other component is the amortization from other comprehensive income of losses associated with pension benefits, which occurs as the losses are included in current net periodic pension cost.

	Unrealized Gains (Losses) on Securities (1)						Pension Loss (2)			Total Accumulated Other Comprehensive Income
(In thousands)	OTTI			Other
Balance January 1, 2016	$	3,316		$	49,750		$	(20,596	)	$	32,470
Other comprehensive income (loss) before reclassifications	(911		)	163,925			—			163,014
Amounts reclassified from accumulated other comprehensive income	270			—			1,158			1,428
Current period other comprehensive income (loss), before tax	(641		)	163,925			1,158			164,442
Income tax (expense) benefit	243			(62,291		)	(440		)	(62,488		)
Current period other comprehensive income (loss), net of tax	(398		)	101,634			718			101,954
Balance June 30, 2016	$	2,918		$	151,384		$	(19,878	)	$	134,424
Balance January 1, 2015	$	3,791		$	81,310		$	(23,008	)	$	62,093
Other comprehensive income (loss) before reclassifications	(449		)	(19,988		)	—			(20,437		)
Amounts reclassified from accumulated other comprehensive income	483			(2,813		)	1,309			(1,021		)
Current period other comprehensive income (loss), before tax	34			(22,801		)	1,309			(21,458		)
Income tax (expense) benefit	(13		)	8,664			(497		)	8,154
Current period other comprehensive income (loss), net of tax	21			(14,137		)	812			(13,304		)
Reclassification for securities for which impairment was not previously recognized	43			(43		)	—			—
Balance June 30, 2015	$	3,855		$	67,130		$	(22,196	)	$	48,789

(1) The pre-tax amounts reclassified from accumulated other comprehensive income are included in "investment securities gains (losses), net" in the consolidated statements of income.

(2) The pre-tax amounts reclassified from accumulated other comprehensive income are included in the computation of net periodic pension cost as "amortization of prior service cost" and "amortization of unrecognized net loss" (see Note 6), for inclusion in the consolidated statements of income.

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Segments

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segments

Segments

The Company segregates financial information for use in assessing its performance and allocating resources among three operating segments: Consumer, Commercial and Wealth. The Consumer segment includes the consumer portion of the retail branch network (loans, deposits, and other personal banking services), indirect and other consumer financing, and consumer debit and credit bank cards.  The Commercial segment provides corporate lending (including the Small Business Banking product line within the branch network), leasing, international services, and business, government deposit, and related commercial cash management services, as well as merchant and commercial bank card products. The Commercial segment includes the Capital Markets Group, which sells fixed income securities and provides investment safekeeping and bond accounting services. The Wealth segment provides traditional trust and estate tax planning, advisory and discretionary investment management, and brokerage services, and includes the Private Banking product portfolio.

The following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these change are reflected in prior year information presented below.

(In thousands)	Consumer			Commercial			Wealth			Segment Totals			Other/Elimination			Consolidated Totals
Three Months Ended June 30, 2016
Net interest income	$	67,221		$	77,104		$	10,947		$	155,272		$	16,557		$	171,829
Provision for loan losses	(8,775		)	1,468			(9		)	(7,316		)	(1,900		)	(9,216		)
Non-interest income	33,040			48,289			36,619			117,948			(1,378		)	116,570
Investment securities losses, net	—			—			—			—			(744		)	(744		)
Non-interest expense	(70,560		)	(70,779		)	(28,300		)	(169,639		)	(7,450		)	(177,089		)
Income before income taxes	$	20,926		$	56,082		$	19,257		$	96,265		$	5,085		$	101,350
Six Months Ended June 30, 2016
Net interest income	$	133,791		$	153,015		$	21,822		$	308,628		$	26,976		$	335,604
Provision for loan losses	(17,500		)	1,487			(115		)	(16,128		)	(2,527		)	(18,655		)
Non-interest income	62,936			99,408			71,021			233,365			2,229			235,594
Investment securities losses, net	—			—			—			—			(1,739		)	(1,739		)
Non-interest expense	(139,536		)	(140,536		)	(56,840		)	(336,912		)	(17,650		)	(354,562		)
Income before income taxes	$	39,691		$	113,374		$	35,888		$	188,953		$	7,289		$	196,242
Three Months Ended June 30, 2015
Net interest income	$	66,516		$	73,112		$	10,752		$	150,380		$	13,277		$	163,657
Provision for loan losses	(8,572		)	(201		)	1			(8,772		)	2,015			(6,757		)
Non-interest income	29,751			49,618			34,878			114,247			(12		)	114,235
Investment securities gains, net	—			—			—			—			2,143			2,143
Non-interest expense	(67,590		)	(65,614		)	(26,980		)	(160,184		)	(5,279		)	(165,463		)
Income before income taxes	$	20,105		$	56,915		$	18,651		$	95,671		$	12,144		$	107,815
Six Months Ended June 30, 2015
Net interest income	$	132,180		$	144,223		$	21,494		$	297,897		$	11,898		$	309,795
Provision for loan losses	(16,895		)	676			8			(16,211		)	5,034			(11,177		)
Non-interest income	56,363			97,199			68,537			222,099			(1,290		)	220,809
Investment securities gains, net	—			—			—			—			8,178			8,178
Non-interest expense	(134,282		)	(130,384		)	(54,250		)	(318,916		)	(10,392		)	(329,308		)
Income before income taxes	$	37,366		$	111,714		$	35,789		$	184,869		$	13,428		$	198,297

The information presented above was derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. This information is based on internal management accounting procedures and methods, which have been developed to reflect the underlying economics of the businesses. The methodologies are applied in connection with funds transfer pricing and assignment of overhead costs among segments. Funds transfer pricing was used in the determination of net interest income by assigning a standard cost (credit) for funds used (provided) by assets and liabilities based on their maturity, prepayment and/or repricing characteristics.

The segment activity, as shown above, includes both direct and allocated items. Amounts in the “Other/Elimination” column include activity not related to the segments, such as that relating to administrative functions, the investment securities portfolio, and the effect of certain expense allocations to the segments. The provision for loan losses in this category contains the difference between net loan charge-offs assigned directly to the segments and the recorded provision for loan loss expense. Included in this category’s net interest income are earnings of the investment portfolio, which are not allocated to a segment.

The performance measurement of the operating segments is based on the management structure of the Company and is not necessarily comparable with similar information for any other financial institution. The information is also not necessarily indicative of the segments' financial condition and results of operations if they were independent entities.

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Derivative Instruments

6 Months Ended

Jun. 30, 2016

Derivative Instrument Detail [Abstract]

Derivative Instruments

Derivative Instruments

The notional amounts of the Company’s derivative instruments are shown in the table below. These contractual amounts, along with other terms of the derivative, are used to determine amounts to be exchanged between counterparties and are not a measure of loss exposure. The Company’s derivative instruments are accounted for as free-standing derivatives, and changes in their fair value are recorded in current earnings.

(In thousands)	June 30, 2016		December 31, 2015
Interest rate swaps	$	1,293,615	$	1,020,310
Interest rate caps	62,969		66,118
Credit risk participation agreements	64,510		62,456
Foreign exchange contracts	4,705		15,535
Mortgage loan commitments	18,420		8,605
Mortgage loan forward sale contracts	3,636		642
Forward TBA contracts	19,500		11,000
Total notional amount	$	1,467,355	$	1,184,666

The largest group of notional amounts relate to interest rate swap contracts sold to commercial customers who wish to modify their interest rate sensitivity. These swaps are offset by matching contracts purchased by the Company from other financial dealer institutions. Contracts with dealers that require central clearing are novated to a clearing agency who becomes the Company's counterparty. Because of the matching terms of the offsetting contracts, in addition to collateral provisions which mitigate the impact of non-performance risk, changes in fair value subsequent to initial recognition have a minimal effect on earnings.

Many of the Company’s interest rate swap contracts with large financial institutions contain contingent features relating to debt ratings or capitalization levels. Under these provisions, if the Company’s debt rating falls below investment grade or if the Company ceases to be “well-capitalized” under risk-based capital guidelines, certain counterparties can require immediate and ongoing collateralization on interest rate swaps in net liability positions or instant settlement of the contracts. The Company maintains debt ratings and capital well above these minimum requirements.

The banking customer counterparties are engaged in a variety of businesses, including real estate and building materials, manufacturing, education, communications, retail product distribution, and retirement communities. At June 30, 2016, the largest potential loss exposures were in the groups related to real estate, distribution, and retirement communities. If the counterparties in these groups failed to perform, and if the underlying collateral proved to be of no value, the Company estimates that it would incur losses of $16.9 million (real estate), $4.0 million (distribution), and $3.6 million (retirement communities) at June 30, 2016.

The Company also contracts with other financial institutions, as a guarantor or beneficiary, to share credit risk associated with certain interest rate swaps through risk participation agreements. The Company’s risks and responsibilities as guarantor are further discussed in Note 5 on Guarantees. In addition, the Company enters into foreign exchange contracts, which are mainly comprised of contracts to purchase or deliver foreign currencies for customers at specific future dates.

In 2015, the Company initiated a program of secondary market sales of residential mortgage loans and has designated certain newly-originated residential mortgage loans as held for sale. Derivative instruments arising from this activity include mortgage loan commitments and forward loan sale commitments. Changes in the fair values of the loan commitments and funded loans prior to sale that are due to changes in interest rates are economically hedged with forward contracts to sell residential mortgage-backed securities in the to-be-announced (TBA) market. These forward TBA contracts are also considered to be derivatives and are settled in cash at the security settlement date.

The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Derivative instruments with a positive fair value (asset derivatives) are reported in other assets in the consolidated balance sheets, while derivative instruments with a negative fair value (liability derivatives) are reported in other liabilities in the consolidated balance sheets. Information about the valuation methods used to determine fair value is provided in Note 13 on Fair Value Measurements.

	Asset Derivatives				Liability Derivatives
	June 30, 2016		Dec. 31, 2015		June 30, 2016			Dec. 31, 2015
(In thousands)	Fair Value				Fair Value
Derivative instruments:
Interest rate swaps	$	34,405	$	11,993	$	(34,415	)	$	(11,993	)
Interest rate caps	31		73		(31		)	(73		)
Credit risk participation agreements	1		1		(289		)	(195		)
Foreign exchange contracts	24		437		(9		)	(430		)
Mortgage loan commitments	790		263		—			—
Mortgage loan forward sale contracts	4		—		(4		)	—
Forward TBA contracts	—		4		(258		)	(38		)
Total	$	35,255	$	12,771	$	(35,006	)	$	(12,729	)

The effects of derivative instruments on the consolidated statements of income are shown in the table below.

	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended June 30						For the Six Months Ended June 30
(In thousands)		2016			2015			2016			2015
Derivative instruments:
Interest rate swaps	Other non-interest income	$	769		$	1,627		$	2,995		$	2,810
Credit risk participation agreements	Other non-interest income	(23		)	75			(58		)	48
Foreign exchange contracts	Other non-interest income	57			761			8			322
Mortgage loan commitments	Loan fees and sales	19			(63		)	527			345
Mortgage loan forward sale contracts	Loan fees and sales	1			4			—			1
Forward TBA contracts	Loan fees and sales	(397		)	390			(726		)	385
Total		$	426		$	2,794		$	2,746		$	3,911

The following table shows the extent to which assets and liabilities relating to derivative instruments have been offset in the consolidated balance sheets. It also provides information about these instruments which are subject to an enforceable master netting arrangement, irrespective of whether they are offset, and the extent to which the instruments could potentially be offset. Also shown is collateral received or pledged in the form of other financial instruments, which is generally cash or marketable securities. The collateral amounts in this table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus amounts of excess collateral are not shown. Most of the derivatives in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default.

The Company is party to master netting arrangements with most of its swap derivative counterparties; however, the Company does not offset derivative assets and liabilities under these arrangements on its consolidated balance sheet. Collateral, usually in the form of marketable securities, is exchanged between the Company and dealer bank counterparties and is generally subject to thresholds and transfer minimums. By contract, it may be sold or re-pledged by the secured party until recalled at a subsequent valuation date by the pledging party. For those swap transactions requiring central clearing, the Company posts cash and securities to its clearing agency. At June 30, 2016, the Company had a net liability position with dealer bank and clearing agency counterparties totaling $34.4 million, and had posted securities with a fair value of $5.6 million and cash totaling $35.9 million. Collateral positions are valued daily, and adjustments to amounts received and pledged by the Company are made as appropriate to maintain proper collateralization for these transactions. Swap derivative transactions with customers are generally secured by rights to non-financial collateral, such as real and personal property, which is not shown in the table below.

							Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset			Collateral Received/Pledged			Net Amount
June 30, 2016
Assets:
Derivatives subject to master netting agreements	$	34,437	$	—	$	34,437	$	(31	)	$	—		$	34,406
Derivatives not subject to master netting agreements	818		—		818
Total derivatives	35,255		—		35,255
Liabilities:
Derivatives subject to master netting agreements	$	34,993	$	—	$	34,993	$	(31	)	$	(33,218	)	$	1,744
Derivatives not subject to master netting agreements	13		—		13
Total derivatives	35,006		—		35,006
December 31, 2015
Assets:
Derivatives subject to master netting agreements	$	12,071	$	—	$	12,071	$	(94	)	$	—		$	11,977
Derivatives not subject to master netting agreements	700		—		700
Total derivatives	12,771		—		12,771
Liabilities:
Derivatives subject to master netting agreements	$	12,299	$	—	$	12,299	$	(94	)	$	(10,927	)	$	1,278
Derivatives not subject to master netting agreements	430		—		430
Total derivatives	12,729		—		12,729

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Resale and Repurchase Agreements (Notes)

6 Months Ended

Jun. 30, 2016

Resale and Repurchase Agreements [Abstract]

Resale and Repurchase Agreements [Text Block]

Resale and Repurchase Agreements

The following table shows the extent to which assets and liabilities relating to securities purchased under agreements to resell (resale agreements) and securities sold under agreements to repurchase (repurchase agreements) have been offset in the consolidated balance sheets, in addition to the extent to which they could potentially be offset. Also shown is collateral received or pledged, which consists of marketable securities. The collateral amounts in the table are limited to the outstanding balances of the related asset or liability (after netting is applied); thus amounts of excess collateral are not shown. The agreements in the following table were transacted under master netting arrangements that contain a conditional right of offset, such as close-out netting, upon default.

Resale and repurchase agreements are agreements to purchase/sell securities subject to an obligation to resell/repurchase the same or similar securities. They are accounted for as collateralized financing transactions, not as sales and purchases of the securities portfolio. The securities collateral accepted or pledged in resale and repurchase agreements with other financial institutions also may be sold or re-pledged by the secured party, but is usually delivered to and held by third party trustees. The Company generally retains custody of securities pledged for repurchase agreements with customers.

The Company is party to several agreements commonly known as collateral swaps. These agreements involve the exchange of collateral under simultaneous repurchase and resale agreements with the same financial institution counterparty. These repurchase and resale agreements have the same principal amounts, inception dates, and maturity dates and have been offset against each other in the consolidated balance sheets, as permitted under the netting provisions of ASC 210-20-45. The collateral swaps totaled $550.0 million at both June 30, 2016 and December 31, 2015. At June 30, 2016, the Company had posted collateral of $577.6 million in marketable securities, consisting of agency mortgage-backed bonds and treasuries, and had accepted $570.2 million in investment grade asset-backed, commercial mortgage-backed, and corporate bonds.

								Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset		Securities Collateral Received/Pledged			Net Amount
June 30, 2016
Total resale agreements, subject to master netting arrangements	$	1,375,000	$	(550,000	)	$	825,000	$	—	$	(825,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	2,150,462		(550,000		)	1,600,462		—		(1,600,462		)	—
December 31, 2015
Total resale agreements, subject to master netting arrangements	$	1,425,000	$	(550,000	)	$	875,000	$	—	$	(875,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	1,956,582		(550,000		)	1,406,582		—		(1,406,582		)	—

The table below shows the remaining contractual maturities of repurchase agreements outstanding at June 30, 2016 and December 31, 2015, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings.

	Remaining Contractual Maturity of the Agreements
(In thousands)	Overnight and continuous		Up to 90 days		Greater than 90 days		Total
June 30, 2016
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	235,265	$	—	$	300,000	$	535,265
Government-sponsored enterprise obligations	257,607		—		—		257,607
Agency mortgage-backed securities	377,702		2,337		250,000		630,039
Asset-backed securities	642,551		85,000		—		727,551
Total repurchase agreements, gross amount recognized	$	1,513,125	$	87,337	$	550,000	$	2,150,462
December 31, 2015
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	210,346	$	—	$	300,000	$	510,346
Government-sponsored enterprise obligations	356,970		—		24,096		381,066
Agency mortgage-backed securities	579,974		2,292		225,904		808,170
Asset-backed securities	212,000		45,000		—		257,000
Total repurchase agreements, gross amount recognized	$	1,359,290	$	47,292	$	550,000	$	1,956,582

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2016

Share-based Compensation [Abstract]

Stock-Based Compensation

Stock-Based Compensation

The Company issues stock-based compensation in the form of nonvested restricted stock and stock appreciation rights (SARs). Most of the awards are issued during the first quarter of each year. The stock-based compensation expense that has been charged against income was $2.9 million and $2.5 million in the three month periods ended June 30, 2016 and 2015, respectively, and $6.3 million and $5.3 million in the six months ended June 30, 2016 and 2015, respectively.

Nonvested stock awards generally vest in 4 to 7 years and contain restrictions as to transferability, sale, pledging, or assigning, among others, prior to the end of the vesting period. Dividend and voting rights are conferred upon grant. A summary of the status of the Company’s nonvested share awards as of June 30, 2016, and changes during the six month period then ended, is presented below.

	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2016	1,384,417		$34.38
Granted	209,347		41.81
Vested	(234,655	)	30.45
Forfeited	(23,840	)	36.36
Nonvested at June 30, 2016	1,335,269		$36.20

SARs are granted with exercise prices equal to the market price of the Company’s stock at the date of grant. SARs vest ratably over 4 years of continuous service and have 10-year contractual terms. All SARs must be settled in stock under provisions of the plan. In determining compensation cost, the Black-Scholes option-pricing model is used to estimate the fair value of SARs on date of grant. The current year per share average fair value and the model assumptions are shown in the table below.

Weighted per share average fair value at grant date		$7.49
Assumptions:
Dividend yield	2.2		%
Volatility	21.2		%
Risk-free interest rate	1.8		%
Expected term	7.2 years

A summary of SAR activity during the first six months of 2016 is presented below.

(Dollars in thousands, except per share data)	Rights		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2016	1,588,457		$33.74
Granted	251,982		41.35
Forfeited	(11,714	)	37.55
Expired	(859	)	37.59
Exercised	(347,100	)	31.48
Outstanding at June 30, 2016	1,480,766		$35.53	5.5 years	$	18,313

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Fair Value Measurements

6 Months Ended

Jun. 30, 2016

Fair Value Measurements [Abstract]

Fair Value Measurements

Fair Value Measurements

The Company uses fair value measurements to record fair value adjustments to certain financial and nonfinancial assets and liabilities and to determine fair value disclosures. Various financial instruments such as available for sale and trading securities, certain non-marketable securities relating to private equity activities, and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets and liabilities on a nonrecurring basis, such as mortgage servicing rights and certain other investment securities. These nonrecurring fair value adjustments typically involve lower of cost or fair value accounting or write-downs of individual assets.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, the Company uses various valuation techniques and assumptions when estimating fair value. For accounting disclosure purposes, a three-level valuation hierarchy of fair value measurements has been established. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:

• Level 1 – inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.

• Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and inputs that are observable for the assets or liabilities, either directly or indirectly (such as interest rates, yield curves, and prepayment speeds).

• Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value. These may be internally developed, using the Company’s best information and assumptions that a market participant would consider.

The valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis are described in the Fair Value of Financial Instruments note in the Company's 2015 Annual Report on Form 10-K. There have been no significant changes in these methodologies since then.

Instruments Measured at Fair Value on a Recurring Basis

The table below presents the June 30, 2016 and December 31, 2015 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first six months of 2016 or the year ended December 31, 2015.

			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)
June 30, 2016
Assets:
Residential mortgage loans held for sale	$	7,094	$	—	$	7,094	$	—
Available for sale securities:
U.S. government and federal agency obligations	720,919		720,919		—		—
Government-sponsored enterprise obligations	562,177		—		562,177		—
State and municipal obligations	1,833,861		—		1,816,182		17,679
Agency mortgage-backed securities	2,589,915		—		2,589,915		—
Non-agency mortgage-backed securities	831,616		—		831,616		—
Asset-backed securities	2,298,725		—		2,298,725		—
Other debt securities	339,264		—		339,264		—
Equity securities	44,869		22,047		22,822		—
Trading securities	30,512		—		30,512		—
Private equity investments	62,813		—		—		62,813
Derivatives *	35,255		—		34,464		791
Assets held in trust for deferred compensation plan	9,701		9,701		—		—
Total assets	9,366,721		752,667		8,532,771		81,283
Liabilities:
Derivatives *	35,006		—		34,717		289
Liabilities held in trust for deferred compensation plan	9,701		9,701		—		—
Total liabilities	$	44,707	$	9,701	$	34,717	$	289
December 31, 2015
Assets:
Residential mortgage loans held for sale	$	4,981	$	—	$	4,981	$	—
Available for sale securities:
U.S. government and federal agency obligations	727,076		727,076		—		—
Government-sponsored enterprise obligations	793,023		—		793,023		—
State and municipal obligations	1,741,957		—		1,724,762		17,195
Agency mortgage-backed securities	2,618,281		—		2,618,281		—
Non-agency mortgage-backed securities	879,963		—		879,963		—
Asset-backed securities	2,644,381		—		2,644,381		—
Other debt securities	331,320		—		331,320		—
Equity securities	41,003		20,263		20,740		—
Trading securities	11,890		—		11,890		—
Private equity investments	63,032		—		—		63,032
Derivatives *	12,771		—		12,507		264
Assets held in trust for deferred compensation plan	9,278		9,278		—		—
Total assets	9,878,956		756,617		9,041,848		80,491
Liabilities:
Derivatives *	12,729		—		12,534		195
Liabilities held in trust for deferred compensation plan	9,278		9,278		—		—
Total liabilities	$	22,007	$	9,278	$	12,534	$	195

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

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:

	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 June 30, 2016
Balance March 31, 2016	$	17,209		$	67,432		$	506		$	85,147
Total gains or losses (realized/unrealized):
Included in earnings	—			(2,810		)	(4		)	(2,814		)
Included in other comprehensive income *	401			—			—			401
Discount accretion	69			—			—			69
Purchases of private equity investments	—			575			—			575
Sale/pay down of private equity investments	—			(2,398		)	—			(2,398		)
Capitalized interest/dividends	—			14			—			14
Balance June 30, 2016	$	17,679		$	62,813		$	502		$	80,994
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 June 30, 2016	$	—		$	(2,810	)	$	767		$	(2,043	)
For the six months ended June 30, 2016
Balance January 1, 2016	$	17,195		$	63,032		$	69		$	80,296
Total gains or losses (realized/unrealized):
Included in earnings	—			(3,724		)	469			(3,255		)
Included in other comprehensive income *	502			—			—			502
Investment securities called	(100		)	—			—			(100		)
Discount accretion	82			—			—			82
Purchases of private equity investments	—			5,841			—			5,841
Sale/pay down of private equity investments	—			(2,398		)	—			(2,398		)
Capitalized interest/dividends	—			62			—			62
Sale of risk participation agreement	—			—			(36		)	(36		)
Balance June 30, 2016	$	17,679		$	62,813		$	502		$	80,994
Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2016	$	—		$	(3,724	)	$	732		$	(2,992	)
For the three months ended June 30, 2015
Balance March 31, 2015	$	93,271		$	61,162		$	158		$	154,591
Total gains or losses (realized/unrealized):
Included in earnings	—			875			12			887
Included in other comprehensive income *	(352		)	—			—			(352		)
Discount accretion	21			—			—			21
Purchases of private equity investments	—			1,437			—			1,437
Sale/pay down of private equity investments	—			(4,800		)	—			(4,800		)
Capitalized interest/dividends	—			52			—			52
Balance June 30, 2015	$	92,940		$	58,726		$	170		$	151,836
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 June 30, 2015	$	—		$	875		$	420		$	1,295
For the six months ended June 30, 2015
Balance January 1, 2015	$	95,143		$	57,581		$	(223	)	$	152,501
Total gains or losses (realized/unrealized):
Included in earnings	—			4,175			393			4,568
Included in other comprehensive income *	(354		)	—			—			(354		)
Investment securities called	(2,000		)	—			—			(2,000		)
Discount accretion	151			—			—			151
Purchases of private equity investments	—			1,653			—			1,653
Sale/pay down of private equity investments	—			(4,800		)	—			(4,800		)
Capitalized interest/dividends	—			117			—			117
Balance June 30, 2015	$	92,940		$	58,726		$	170		$	151,836
Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2015	$	—		$	4,175		$	393		$	4,568

* Included in "net unrealized gains (losses) on other securities" in the consolidated statements of comprehensive income.

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)	Loan Fees and Sales			Other Non-Interest Income			Investment Securities Gains (Losses), Net			Total
For the three months ended June 30, 2016
Total gains or losses included in earnings	$	19		$	(23	)	$	(2,810	)	$	(2,814	)
Change in unrealized gains or losses relating to assets still held at June 30, 2016	$	790		$	(23	)	$	(2,810	)	$	(2,043	)
For the six months ended June 30, 2016
Total gains or losses included in earnings	$	527		$	(58	)	$	(3,724	)	$	(3,255	)
Change in unrealized gains or losses relating to assets still held at June 30, 2016	$	790		$	(58	)	$	(3,724	)	$	(2,992	)
For the three months ended June 30, 2015
Total gains or losses included in earnings	$	(63	)	$	75		$	875		$	887
Change in unrealized gains or losses relating to assets still held at June 30, 2015	$	345		$	75		$	875		$	1,295
For the six months ended June 30, 2015
Total gains or losses included in earnings	$	345		$	48		$	4,175		$	4,568
Change in unrealized gains or losses relating to assets still held at June 30, 2015	$	345		$	48		$	4,175		$	4,568

Level 3 Inputs

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, investments in portfolio concerns held by the Company's private equity subsidiaries, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $17.7 million at June 30, 2016, while private equity investments, included in non-marketable securities, totaled $62.8 million.

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

Quantitative Information about Level 3 Fair Value Measurements						Weighted
	Valuation Technique	Unobservable Input	Range			Average
Auction rate securities	Discounted cash flow	Estimated market recovery period			5 years
		Estimated market rate	2.3%	-	3.4%
Private equity investments	Market comparable companies	EBITDA multiple	4.0	-	5.5
Mortgage loan commitments	Discounted cash flow	Probability of funding	59.4%	-	95.6%	78.9%
		Embedded servicing value	.9%	-	1.0%	1.0%

Instruments Measured at Fair Value on a Nonrecurring Basis

For assets measured at fair value on a nonrecurring basis during the first six months of 2016 and 2015, and still held as of June 30, 2016 and 2015, 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 June 30, 2016 and 2015.

			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 Six Months Ended June 30, 2016
June 30, 2016
Collateral dependent impaired loans	$	5,001	$	—	$	—	$	5,001	$	(1,491	)
Mortgage servicing rights	2,191		—		—		2,191		(2		)
Foreclosed assets	28		—		—		28		(10		)
Long-lived assets	1,871		—		—		1,871		(956		)
June 30, 2015
Collateral dependent impaired loans	$	3,897	$	—	$	—	$	3,897	$	(1,340	)
Mortgage servicing rights	1,242		—		—		1,242		53
Foreclosed assets	608		—		—		608		(162		)
Long-lived assets	2,425		—		—		2,425		(1,667		)

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Fair Value Of Financial Instruments

6 Months Ended

Jun. 30, 2016

Fair Value Of Financial Instruments [Abstract]

Fair Value Of Financial Instruments

Fair Value of Financial Instruments

The carrying amounts and estimated fair values of financial instruments held by the Company are set forth below. Fair value estimates are made at a specific point in time based on relevant market information. They do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for many of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, risk characteristics and economic conditions. These estimates are subjective, involve uncertainties, and cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

The methods and inputs used in the estimation of fair value for the financial instruments in the table below are discussed in the Fair Value Measurements and the Fair Value of Financial Instruments notes in the Company's 2015 Annual Report on Form 10-K. There have been no significant changes in these methods and inputs since December 31, 2015.

The estimated fair values of the Company’s financial instruments and the classification of their fair value measurement within the valuation hierarchy are as follows:

	Fair Value Hierarchy Level	June 30, 2016				December 31, 2015
(In thousands)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Loans:
Business	Level 3	$	4,840,248	$	4,902,110	$	4,397,893	$	4,421,237
Real estate - construction and land	Level 3	819,896		829,857		624,070		633,083
Real estate - business	Level 3	2,399,271		2,448,134		2,355,544		2,387,101
Real estate - personal	Level 3	1,927,340		1,976,674		1,915,953		1,940,863
Consumer	Level 3	1,939,486		1,943,943		1,924,365		1,916,747
Revolving home equity	Level 3	408,301		410,995		432,981		434,607
Consumer credit card	Level 3	753,166		769,991		779,744		793,428
Overdrafts	Level 3	4,180		4,180		6,142		6,142
Loans held for sale	Level 2	33,254		33,337		7,607		7,607
Investment securities:
Available for sale	Level 1	742,966		742,966		747,339		747,339
Available for sale	Level 2	8,460,701		8,460,701		9,012,470		9,012,470
Available for sale	Level 3	17,679		17,679		17,195		17,195
Trading	Level 2	30,512		30,512		11,890		11,890
Non-marketable	Level 3	111,931		111,931		112,786		112,786
Federal funds sold	Level 1	13,725		13,725		14,505		14,505
Securities purchased under agreements to resell	Level 3	825,000		833,366		875,000		879,546
Interest earning deposits with banks	Level 1	183,223		183,223		23,803		23,803
Cash and due from banks	Level 1	428,300		428,300		464,411		464,411
Derivative instruments	Level 2	34,464		34,464		12,507		12,507
Derivative instruments	Level 3	791		791		264		264
Assets held in trust for deferred compensation plan	Level 1	9,701		9,701		9,278		9,278
Financial Liabilities
Non-interest bearing deposits	Level 1	$	6,906,265	$	6,906,265	$	7,146,398	$	7,146,398
Savings, interest checking and money market deposits	Level 1	10,978,734		10,978,734		10,834,746		10,834,746
Time open and certificates of deposit	Level 3	2,265,048		2,264,742		1,997,709		1,993,521
Federal funds purchased	Level 1	31,810		31,810		556,970		556,970
Securities sold under agreements to repurchase	Level 3	1,600,462		1,600,553		1,406,582		1,406,670
Other borrowings	Level 3	103,878		107,967		103,818		108,542
Derivative instruments	Level 2	34,717		34,717		12,534		12,534
Derivative instruments	Level 3	289		289		195		195
Liabilities held in trust for deferred compensation plan	Level 1	9,701		9,701		9,278		9,278

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Legal Proceedings (Notes)

6 Months Ended

Jun. 30, 2016

Legal Proceedings [Abstract]

Legal Matters and Contingencies [Text Block]

Legal Proceedings

On August 15, 2014, a customer filed a class action complaint against the Bank in the Circuit Court, Jackson County, Missouri.  The case is Cassandra Warren, et al v. Commerce Bank (Case No. 1416-CV19197).  In the case, the customer alleges violation of the Missouri usury statute in connection with the Bank charging overdraft fees in connection with point-of-sale/debit and automated-teller machine cards. The class was certified and consists of Missouri customers of the Bank who may have been similarly affected. The case has been stayed pending the final outcome of a similar case in which a ruling has been made in favor of the bank defendant. The Company believes that the stay will remain in effect until any appeals in the similar case have run their course.  The Company believes the Warren complaint lacks merit and will defend itself vigorously. The amount of any ultimate exposure cannot be determined with certainty at this time.

The Company has various other legal proceedings pending at June 30, 2016, arising in the normal course of business. While some matters pending against the Company specify damages claimed by plaintiffs, others do not seek a specified amount of damages or are at very early stages of the legal process. The Company records a loss accrual for all legal matters for which it deems a loss is probable and can be reasonably estimated. Some legal matters, which are at early stages in the legal process, have not yet progressed to the point where a loss amount can be determined to be probable and estimable.

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Loans And Allowance For Loan Losses (Tables)

6 Months Ended

Jun. 30, 2016

Loans And Allowance For Loan Losses [Abstract]

Summary Classification Of Held To Maturity Loan Portfolio

Major classifications within the Company’s held for investment loan portfolio at June 30, 2016 and December 31, 2015 are as follows:

(In thousands)	June 30, 2016		December 31, 2015
Commercial:
Business	$	4,840,248	$	4,397,893
Real estate – construction and land	819,896		624,070
Real estate – business	2,399,271		2,355,544
Personal Banking:
Real estate – personal	1,927,340		1,915,953
Consumer	1,939,486		1,924,365
Revolving home equity	408,301		432,981
Consumer credit card	753,166		779,744
Overdrafts	4,180		6,142
Total loans	$	13,091,888	$	12,436,692

Summary Of Activity In The Allowance For Loan Losses

A summary of the activity in the allowance for loan losses during the three and six months ended June 30, 2016 and 2015, respectively, follows:

	For the Three Months Ended June 30							For the Six Months Ended June 30
(In thousands)	Commercial			Personal Banking		Total		Commercial			Personal Banking		Total
Balance at beginning of period	$	86,027		$	66,105	$	152,132	$	82,086		$	69,446	$	151,532
Provision	1,569			7,647		9,216		5,720			12,935		18,655
Deductions:
Loans charged off	661			11,984		12,645		2,174			23,761		25,935
Less recoveries on loans	2,263			2,866		5,129		3,566			6,014		9,580
Net loan charge-offs (recoveries)	(1,602		)	9,118		7,516		(1,392		)	17,747		16,355
Balance June 30, 2016	$	89,198		$	64,634	$	153,832	$	89,198		$	64,634	$	153,832
Balance at beginning of period	$	88,906		$	64,626	$	153,532	$	89,622		$	66,910	$	156,532
Provision	(2,361		)	9,118		6,757		(4,113		)	15,290		11,177
Deductions:
Loans charged off	1,408			11,297		12,705		2,132			22,873		25,005
Less recoveries on loans	1,192			2,756		3,948		2,952			5,876		8,828
Net loan charge-offs (recoveries)	216			8,541		8,757		(820		)	16,997		16,177
Balance June 30, 2015	$	86,329		$	65,203	$	151,532	$	86,329		$	65,203	$	151,532

Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology

The following table shows the balance in the allowance for loan losses and the related loan balance at June 30, 2016 and December 31, 2015, disaggregated on the basis of impairment methodology. Impaired loans evaluated under ASC 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans discussed below, which are deemed to have similar risk characteristics and are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.

	Impaired Loans				All Other Loans
(In thousands)	Allowance for Loan Losses		Loans Outstanding		Allowance for Loan Losses		Loans Outstanding
June 30, 2016
Commercial	$	1,571	$	49,695	$	87,627	$	8,009,720
Personal Banking	1,333		21,498		63,301		5,010,975
Total	$	2,904	$	71,193	$	150,928	$	13,020,695
December 31, 2015
Commercial	$	1,927	$	43,027	$	80,159	$	7,334,480
Personal Banking	1,557		22,287		67,889		5,036,898
Total	$	3,484	$	65,314	$	148,048	$	12,371,378

Investment In Impaired Loans

The table below shows the Company’s investment in impaired loans at June 30, 2016 and December 31, 2015. These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section on page 14.

(In thousands)	June 30, 2016		Dec. 31, 2015
Non-accrual loans	$	24,524	$	26,575
Restructured loans (accruing)	46,669		38,739
Total impaired loans	$	71,193	$	65,314

Additional Information About Impaired Loans Held

The following table provides additional information about impaired loans held by the Company at June 30, 2016 and December 31, 2015, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
June 30, 2016
With no related allowance recorded:
Business	$	11,777	$	15,217	$	—
Real estate – construction and land	2,160		3,462		—
Real estate – business	3,072		3,261		—
Real estate – personal	352		373		—
	$	17,361	$	22,313	$	—
With an allowance recorded:
Business	$	24,905	$	25,639	$	1,059
Real estate – construction and land	160		162		7
Real estate – business	7,621		9,145		505
Real estate – personal	7,419		10,310		694
Consumer	5,596		5,596		68
Revolving home equity	400		447		21
Consumer credit card	7,731		7,731		550
	$	53,832	$	59,030	$	2,904
Total	$	71,193	$	81,343	$	2,904
December 31, 2015
With no related allowance recorded:
Business	$	9,330	$	11,777	$	—
Real estate – construction and land	2,961		8,956		—
Real estate – business	4,793		6,264		—
Real estate – personal	373		373		—
	$	17,457	$	27,370	$	—
With an allowance recorded:
Business	$	18,227	$	20,031	$	1,119
Real estate – construction and land	1,227		2,804		63
Real estate – business	6,489		9,008		745
Real estate – personal	7,667		10,530		831
Consumer	5,599		5,599		63
Revolving home equity	704		852		67
Consumer credit card	7,944		7,944		596
	$	47,857	$	56,768	$	3,484
Total	$	65,314	$	84,138	$	3,484

Total Average Impaired Loans

Total average impaired loans for the three and six month periods ended June 30, 2016 and 2015, respectively, are shown in the table below.

(In thousands)	Commercial		Personal Banking		Total
Average Impaired Loans:
For the three months ended June 30, 2016
Non-accrual loans	$	22,098	$	4,461	$	26,559
Restructured loans (accruing)	28,775		17,297		46,072
Total	$	50,873	$	21,758	$	72,631
For the six months ended June 30, 2016
Non-accrual loans	$	21,551	$	4,542	$	26,093
Restructured loans (accruing)	27,977		17,499		45,476
Total	$	49,528	$	22,041	$	71,569
For the three months ended June 30, 2015
Non-accrual loans	$	25,063	$	5,948	$	31,011
Restructured loans (accruing)	14,254		18,968		33,222
Total	$	39,317	$	24,916	$	64,233
For the six months ended June 30, 2015
Non-accrual loans	$	28,155	$	6,102	$	34,257
Restructured loans (accruing)	18,245		19,176		37,421
Total	$	46,400	$	25,278	$	71,678

Interest Income Recognized On Impaired Loans

The table below shows interest income recognized during the three and six month periods ended June 30, 2016 and 2015, respectively, for impaired loans held at the end of each respective period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section on page 14.

	For the Three Months Ended June 30				For the Six Months Ended June 30
(In thousands)	2016		2015		2016		2015
Interest income recognized on impaired loans:
Business	$	236	$	42	$	472	$	84
Real estate – construction and land	3		42		5		84
Real estate – business	56		15		112		30
Real estate – personal	42		48		84		96
Consumer	89		85		177		169
Revolving home equity	4		6		7		11
Consumer credit card	159		179		318		357
Total	$	589	$	417	$	1,175	$	831

Aging Information On Past Due And Nonaccrual Loans

The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at June 30, 2016 and December 31, 2015.

(In thousands)	Current or Less Than 30 Days Past Due		30 – 89 Days Past Due		90 Days Past Due and Still Accruing		Non-accrual		Total
June 30, 2016
Commercial:
Business	$	4,815,328	$	11,924	$	280	$	12,716	$	4,840,248
Real estate – construction and land	815,890		1,836		—		2,170		819,896
Real estate – business	2,388,292		3,743		2,000		5,236		2,399,271
Personal Banking:
Real estate – personal	1,913,469		7,083		2,495		4,293		1,927,340
Consumer	1,919,044		17,896		2,546		—		1,939,486
Revolving home equity	403,831		2,993		1,368		109		408,301
Consumer credit card	737,946		8,017		7,203		—		753,166
Overdrafts	3,917		263		—		—		4,180
Total	$	12,997,717	$	53,755	$	15,892	$	24,524	$	13,091,888
December 31, 2015
Commercial:
Business	$	4,384,149	$	2,306	$	564	$	10,874	$	4,397,893
Real estate – construction and land	617,838		3,142		—		3,090		624,070
Real estate – business	2,340,919		6,762		—		7,863		2,355,544
Personal Banking:
Real estate – personal	1,901,330		7,117		3,081		4,425		1,915,953
Consumer	1,903,389		18,273		2,703		—		1,924,365
Revolving home equity	427,998		2,641		2,019		323		432,981
Consumer credit card	762,750		8,894		8,100		—		779,744
Overdrafts	5,834		308		—		—		6,142
Total	$	12,344,207	$	49,443	$	16,467	$	26,575	$	12,436,692

Credit Quality Of Commercial Loan Portfolio

The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is applied to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.

Commercial Loans
(In thousands)	Business		Real  Estate-Construction		Real Estate- Business		Total
June 30, 2016
Pass	$	4,702,346	$	808,815	$	2,318,106	$	7,829,267
Special mention	66,786		8,561		24,770		100,117
Substandard	58,400		350		51,159		109,909
Non-accrual	12,716		2,170		5,236		20,122
Total	$	4,840,248	$	819,896	$	2,399,271	$	8,059,415
December 31, 2015
Pass	$	4,278,857	$	618,788	$	2,281,565	$	7,179,210
Special mention	49,302		1,033		15,009		65,344
Substandard	58,860		1,159		51,107		111,126
Non-accrual	10,874		3,090		7,863		21,827
Total	$	4,397,893	$	624,070	$	2,355,544	$	7,377,507

Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding

For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at June 30, 2016 and December 31, 2015 by FICO score.

Personal Banking Loans
	% of Loan Category
	Real Estate - Personal		Consumer		Revolving Home Equity		Consumer Credit Card
June 30, 2016
FICO score:
Under 600	1.5	%	4.3	%	1.3	%	4.0	%
600 - 659	2.8		8.9		3.9		11.8
660 - 719	9.6		21.6		13.4		31.4
720 - 779	24.4		26.2		28.4		28.0
780 and over	61.7		39.0		53.0		24.8
Total	100.0	%	100.0	%	100.0	%	100.0	%
December 31, 2015
FICO score:
Under 600	1.5	%	4.5	%	1.5	%	3.9	%
600 - 659	3.0		9.7		3.9		12.0
660 - 719	9.1		21.8		13.6		31.7
720 - 779	25.0		26.4		28.4		27.9
780 and over	61.4		37.6		52.6		24.5
Total	100.0	%	100.0	%	100.0	%	100.0	%

Outstanding Balance Of Loans Classified As Troubled Debt Restructurings

The following table shows the outstanding balances of loans classified as troubled debt restructurings at June 30, 2016, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.

(In thousands)	June 30, 2016		Balance 90 days past due at any time during previous 12 months
Commercial:
Business	$	35,833	$	—
Real estate - construction and land	1,736		—
Real estate - business	5,457		—
Personal Banking:
Real estate - personal	4,823		683
Consumer	5,619		57
Revolving home equity	291		33
Consumer credit card	7,731		504
Total restructured loans	$	61,490	$	1,277

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Investment Securities (Tables)

6 Months Ended

Jun. 30, 2016

Investment Securities [Abstract]

Investment Securities, At Fair Value

nvestment securities, at fair value, consisted of the following at June 30, 2016 and December 31, 2015.

(In thousands)	June 30, 2016		Dec. 31, 2015
Available for sale	$	9,221,346	$	9,777,004
Trading	30,512		11,890
Non-marketable	111,931		112,786
Total investment securities	$	9,363,789	$	9,901,680

Summary Of Available For Sale Investment Securities By Maturity Groupings

A summary of the available for sale investment securities by maturity groupings as of June 30, 2016 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, GNMA and FDIC, in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral.

(In thousands)	Amortized Cost		Fair Value
U.S. government and federal agency obligations:
Within 1 year	$	59,365	$	59,898
After 1 but within 5 years	499,992		517,665
After 5 but within 10 years	105,802		109,977
After 10 years	35,642		33,379
Total U.S. government and federal agency obligations	700,801		720,919
Government-sponsored enterprise obligations:
Within 1 year	81,208		81,302
After 1 but within 5 years	452,204		459,978
After 5 but within 10 years	14,988		15,260
After 10 years	5,630		5,637
Total government-sponsored enterprise obligations	554,030		562,177
State and municipal obligations:
Within 1 year	135,577		136,305
After 1 but within 5 years	642,897		662,010
After 5 but within 10 years	923,727		971,348
After 10 years	61,917		64,198
Total state and municipal obligations	1,764,118		1,833,861
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,509,991		2,589,915
Non-agency mortgage-backed securities	814,917		831,616
Asset-backed securities	2,293,845		2,298,725
Total mortgage and asset-backed securities	5,618,753		5,720,256
Other debt securities:
Within 1 year	5,996		6,052
After 1 but within 5 years	88,771		90,755
After 5 but within 10 years	222,737		231,176
After 10 years	11,588		11,281
Total other debt securities	329,092		339,264
Equity securities	5,678		44,869
Total available for sale investment securities	$	8,972,472	$	9,221,346

Available For Sale Securities Unrealized Gains And Losses By Security Type

For securities classified as available for sale, the following table shows the unrealized gains and losses (pre-tax) in accumulated other comprehensive income, by security type.

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2016
U.S. government and federal agency obligations	$	700,801	$	22,381	$	(2,263	)	$	720,919
Government-sponsored enterprise obligations	554,030		8,147		—			562,177
State and municipal obligations	1,764,118		70,435		(692		)	1,833,861
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,509,991		79,952		(28		)	2,589,915
Non-agency mortgage-backed securities	814,917		16,803		(104		)	831,616
Asset-backed securities	2,293,845		15,664		(10,784		)	2,298,725
Total mortgage and asset-backed securities	5,618,753		112,419		(10,916		)	5,720,256
Other debt securities	329,092		10,546		(374		)	339,264
Equity securities	5,678		39,191		—			44,869
Total	$	8,972,472	$	263,119	$	(14,245	)	$	9,221,346
December 31, 2015
U.S. government and federal agency obligations	$	729,846	$	5,051	$	(7,821	)	$	727,076
Government-sponsored enterprise obligations	794,912		2,657		(4,546		)	793,023
State and municipal obligations	1,706,635		37,061		(1,739		)	1,741,957
Mortgage and asset-backed securities:
Agency mortgage-backed securities	2,579,031		47,856		(8,606		)	2,618,281
Non-agency mortgage-backed securities	879,186		8,596		(7,819		)	879,963
Asset-backed securities	2,660,201		1,287		(17,107		)	2,644,381
Total mortgage and asset-backed securities	6,118,418		57,739		(33,532		)	6,142,625
Other debt securities	335,925		377		(4,982		)	331,320
Equity securities	5,678		35,325		—			41,003
Total	$	9,691,414	$	138,210	$	(52,620	)	$	9,777,004

Cash Flow Model Inputs Used To Calculate Credit Losses

ignificant inputs to the cash flow models used to calculate the credit losses on these securities at June 30, 2016 included the following:

Significant Inputs	Range
Prepayment CPR	0%	-	25%
Projected cumulative default	17%	-	52%
Credit support	0%	-	27%
Loss severity	18%	-	63%

Changes In Recorded Credit Losses

The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings on all available for sale debt securities.

	For the Six Months Ended June 30
(In thousands)	2016			2015
Cumulative OTTI credit losses at January 1	$	14,129		$	13,734
Credit losses on debt securities for which impairment was not previously recognized	—			76
Credit losses on debt securities for which impairment was previously recognized	270			407
Increase in expected cash flows that are recognized over remaining life of security	(37		)	(51		)
Cumulative OTTI credit losses at June 30	$	14,362		$	14,166

Securities With Unrealized Losses And Length Of Impairment Period

Securities with unrealized losses recorded in accumulated other comprehensive income are shown in the table below, along with the length of the impairment period.

	Less than 12 months				12 months or longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
June 30, 2016
U.S. government and federal agency obligations	$	—	$	—	$	33,379	$	2,263	$	33,379	$	2,263
State and municipal obligations	17,375		334		9,478		358		26,853		692
Mortgage and asset-backed securities:
Agency mortgage-backed securities	14,257		22		2,611		6		16,868		28
Non-agency mortgage-backed securities	3,790		2		57,411		102		61,201		104
Asset-backed securities	529,895		6,782		189,558		4,002		719,453		10,784
Total mortgage and asset-backed securities	547,942		6,806		249,580		4,110		797,522		10,916
Other debt securities	—		—		19,685		374		19,685		374
Total	$	565,317	$	7,140	$	312,122	$	7,105	$	877,439	$	14,245
December 31, 2015
U.S. government and federal agency obligations	$	491,998	$	3,098	$	31,012	$	4,723	$	523,010	$	7,821
Government-sponsored enterprise obligations	157,830		1,975		110,250		2,571		268,080		4,546
State and municipal obligations	66,998		544		31,120		1,195		98,118		1,739
Mortgage and asset-backed securities:
Agency mortgage-backed securities	530,035		2,989		291,902		5,617		821,937		8,606
Non-agency mortgage-backed securities	653,603		7,059		54,536		760		708,139		7,819
Asset-backed securities	2,207,922		12,492		223,311		4,615		2,431,233		17,107
Total mortgage and asset-backed securities	3,391,560		22,540		569,749		10,992		3,961,309		33,532
Other debt securities	244,452		3,687		25,218		1,295		269,670		4,982
Total	$	4,352,838	$	31,844	$	767,349	$	20,776	$	5,120,187	$	52,620

Proceeds From Sales Of Securities And Components Of Investment Securities Gains And Losses

The following table presents proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings.

	For the Six Months Ended June 30
(In thousands)	2016			2015
Proceeds from sales of available for sale securities	$	—		$	675,870
Proceeds from sales of non-marketable securities	2,071			7,332
Total proceeds	$	2,071		$	683,202
Available for sale:
Gains realized on sales	$	—		$	2,813
Other-than-temporary impairment recognized on debt securities	(270		)	(483		)
Non-marketable:
Gains realized on sales	2,260			1,673
Fair value adjustments, net	(3,729		)	4,175
Investment securities gains (losses), net	$	(1,739	)	$	8,178

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Goodwill And Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Intangible Assets With Estimable Useful Lives

The following table presents information about the Company's intangible assets which have estimable useful lives.

	June 30, 2016										December 31, 2015
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount		Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount
Amortizable intangible assets:
Core deposit premium	$	31,270	$	(26,900	)	$	—		$	4,370	$	31,270	$	(26,239	)	$	—		$	5,031
Mortgage servicing rights	4,821		(2,599		)	(31		)	2,191		4,638		(2,971		)	(29		)	1,638
Total	$	36,091	$	(29,499	)	$	(31	)	$	6,561	$	35,908	$	(29,210	)	$	(29	)	$	6,669

Schedule of Estimated Annual Amortization Expense

he following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of June 30, 2016. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.

(In thousands)
2016	$	1,527
2017	1,162
2018	892
2019	737
2020	602

Schedule Of Changes In CArrying Amount Of Goodwill And Net Other Intangible Assets

Changes in the carrying amount of goodwill and net other intangible assets for the six month period endedJune 30, 2016 is as follows:

(In thousands)	Goodwill		Core Deposit Premium			Mortgage Servicing Rights
Balance January 1, 2016	$	138,921	$	5,031		$	1,638
Originations	—		—			688
Amortization	—		(661		)	(133		)
Impairment	—		—			(2		)
Balance June 30, 2016	$	138,921	$	4,370		$	2,191

Schedule Of Goodwill Allocated By Operating Segments

Goodwill allocated to the Company’s operating segments at June 30, 2016 and December 31, 2015 is shown below.

(In thousands)
Consumer segment	$	70,721
Commercial segment	67,454
Wealth segment	746
Total goodwill	$	138,921

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Pension (Tables)

6 Months Ended

Jun. 30, 2016

Pension [Abstract]

Net Pension Cost

The amount of net pension cost is shown in the table below:

	For the Three Months Ended June 30						For the Six Months Ended June 30
(In thousands)	2016			2015			2016			2015
Service cost - benefits earned during the period	$	138		$	126		$	271		$	252
Interest cost on projected benefit obligation	1,005			1,216			1,972			2,432
Expected return on plan assets	(1,439		)	(1,523		)	(2,876		)	(3,046		)
Amortization of prior service cost	(67		)	—			(135		)	—
Amortization of unrecognized net loss	642			654			1,293			1,309
Net periodic pension cost	$	279		$	473		$	525		$	947

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Common Stock (Tables)

6 Months Ended

Jun. 30, 2016

Common Stock [Abstract]

Summary Of Components Used To Calculate Basic And Diluted Income Per Share

Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 12.

	For the Three Months Ended June 30				For the Six Months Ended June 30
(In thousands, except per share data)	2016		2015		2016		2015
Basic income per common share:
Net income available to common shareholders	$	67,643	$	72,103	$	130,767	$	130,908
Less income allocated to nonvested restricted stock	940		997		1,834		1,793
Net income allocated to common stock	$	66,703	$	71,106	$	128,933	$	129,115
Weighted average common shares outstanding	95,382		99,099		95,474		99,573
Basic income per common share	$	.70	$	.72	$	1.35	$	1.30
Diluted income per common share:
Net income available to common shareholders	$	67,643	$	72,103	$	130,767	$	130,908
Less income allocated to nonvested restricted stock	938		995		1,831		1,789
Net income allocated to common stock	$	66,705	$	71,108	$	128,936	$	129,119
Weighted average common shares outstanding	95,382		99,099		95,474		99,573
Net effect of the assumed exercise of stock-based awards - based on
the treasury stock method using the average market price for the respective periods	249		338		232		327
Weighted average diluted common shares outstanding	95,631		99,437		95,706		99,900
Diluted income per common share	$	.70	$	.72	$	1.35	$	1.30

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Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2016

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule Of Accumulated Other Comprehensive Income

The table below shows the activity and accumulated balances for components of other comprehensive income. The largest component is the unrealized holding gains and losses on available for sale securities. Unrealized gains and losses on debt securities for which an other-than-temporary impairment (OTTI) has been recorded in current earnings are shown separately below. The other component is the amortization from other comprehensive income of losses associated with pension benefits, which occurs as the losses are included in current net periodic pension cost.

	Unrealized Gains (Losses) on Securities (1)						Pension Loss (2)			Total Accumulated Other Comprehensive Income
(In thousands)	OTTI			Other
Balance January 1, 2016	$	3,316		$	49,750		$	(20,596	)	$	32,470
Other comprehensive income (loss) before reclassifications	(911		)	163,925			—			163,014
Amounts reclassified from accumulated other comprehensive income	270			—			1,158			1,428
Current period other comprehensive income (loss), before tax	(641		)	163,925			1,158			164,442
Income tax (expense) benefit	243			(62,291		)	(440		)	(62,488		)
Current period other comprehensive income (loss), net of tax	(398		)	101,634			718			101,954
Balance June 30, 2016	$	2,918		$	151,384		$	(19,878	)	$	134,424
Balance January 1, 2015	$	3,791		$	81,310		$	(23,008	)	$	62,093
Other comprehensive income (loss) before reclassifications	(449		)	(19,988		)	—			(20,437		)
Amounts reclassified from accumulated other comprehensive income	483			(2,813		)	1,309			(1,021		)
Current period other comprehensive income (loss), before tax	34			(22,801		)	1,309			(21,458		)
Income tax (expense) benefit	(13		)	8,664			(497		)	8,154
Current period other comprehensive income (loss), net of tax	21			(14,137		)	812			(13,304		)
Reclassification for securities for which impairment was not previously recognized	43			(43		)	—			—
Balance June 30, 2015	$	3,855		$	67,130		$	(22,196	)	$	48,789

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Segments (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Schedule Of Financial Information By Segment

he following table presents selected financial information by segment and reconciliations of combined segment totals to consolidated totals. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. If appropriate, these change are reflected in prior year information presented below.

(In thousands)	Consumer			Commercial			Wealth			Segment Totals			Other/Elimination			Consolidated Totals
Three Months Ended June 30, 2016
Net interest income	$	67,221		$	77,104		$	10,947		$	155,272		$	16,557		$	171,829
Provision for loan losses	(8,775		)	1,468			(9		)	(7,316		)	(1,900		)	(9,216		)
Non-interest income	33,040			48,289			36,619			117,948			(1,378		)	116,570
Investment securities losses, net	—			—			—			—			(744		)	(744		)
Non-interest expense	(70,560		)	(70,779		)	(28,300		)	(169,639		)	(7,450		)	(177,089		)
Income before income taxes	$	20,926		$	56,082		$	19,257		$	96,265		$	5,085		$	101,350
Six Months Ended June 30, 2016
Net interest income	$	133,791		$	153,015		$	21,822		$	308,628		$	26,976		$	335,604
Provision for loan losses	(17,500		)	1,487			(115		)	(16,128		)	(2,527		)	(18,655		)
Non-interest income	62,936			99,408			71,021			233,365			2,229			235,594
Investment securities losses, net	—			—			—			—			(1,739		)	(1,739		)
Non-interest expense	(139,536		)	(140,536		)	(56,840		)	(336,912		)	(17,650		)	(354,562		)
Income before income taxes	$	39,691		$	113,374		$	35,888		$	188,953		$	7,289		$	196,242
Three Months Ended June 30, 2015
Net interest income	$	66,516		$	73,112		$	10,752		$	150,380		$	13,277		$	163,657
Provision for loan losses	(8,572		)	(201		)	1			(8,772		)	2,015			(6,757		)
Non-interest income	29,751			49,618			34,878			114,247			(12		)	114,235
Investment securities gains, net	—			—			—			—			2,143			2,143
Non-interest expense	(67,590		)	(65,614		)	(26,980		)	(160,184		)	(5,279		)	(165,463		)
Income before income taxes	$	20,105		$	56,915		$	18,651		$	95,671		$	12,144		$	107,815
Six Months Ended June 30, 2015
Net interest income	$	132,180		$	144,223		$	21,494		$	297,897		$	11,898		$	309,795
Provision for loan losses	(16,895		)	676			8			(16,211		)	5,034			(11,177		)
Non-interest income	56,363			97,199			68,537			222,099			(1,290		)	220,809
Investment securities gains, net	—			—			—			—			8,178			8,178
Non-interest expense	(134,282		)	(130,384		)	(54,250		)	(318,916		)	(10,392		)	(329,308		)
Income before income taxes	$	37,366		$	111,714		$	35,789		$	184,869		$	13,428		$	198,297

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Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instrument Detail [Abstract]

Schedule Of Notional Amounts Of Derivative Instruments

(In thousands)	June 30, 2016		December 31, 2015
Interest rate swaps	$	1,293,615	$	1,020,310
Interest rate caps	62,969		66,118
Credit risk participation agreements	64,510		62,456
Foreign exchange contracts	4,705		15,535
Mortgage loan commitments	18,420		8,605
Mortgage loan forward sale contracts	3,636		642
Forward TBA contracts	19,500		11,000
Total notional amount	$	1,467,355	$	1,184,666

Schedule Of Fair Values Of Derivative Instruments

The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Derivative instruments with a positive fair value (asset derivatives) are reported in other assets in the consolidated balance sheets, while derivative instruments with a negative fair value (liability derivatives) are reported in other liabilities in the consolidated balance sheets. Information about the valuation methods used to determine fair value is provided in Note 13 on Fair Value Measurements.

	Asset Derivatives				Liability Derivatives
	June 30, 2016		Dec. 31, 2015		June 30, 2016			Dec. 31, 2015
(In thousands)	Fair Value				Fair Value
Derivative instruments:
Interest rate swaps	$	34,405	$	11,993	$	(34,415	)	$	(11,993	)
Interest rate caps	31		73		(31		)	(73		)
Credit risk participation agreements	1		1		(289		)	(195		)
Foreign exchange contracts	24		437		(9		)	(430		)
Mortgage loan commitments	790		263		—			—
Mortgage loan forward sale contracts	4		—		(4		)	—
Forward TBA contracts	—		4		(258		)	(38		)
Total	$	35,255	$	12,771	$	(35,006	)	$	(12,729	)

Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income

The effects of derivative instruments on the consolidated statements of income are shown in the table below.

	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended June 30						For the Six Months Ended June 30
(In thousands)		2016			2015			2016			2015
Derivative instruments:
Interest rate swaps	Other non-interest income	$	769		$	1,627		$	2,995		$	2,810
Credit risk participation agreements	Other non-interest income	(23		)	75			(58		)	48
Foreign exchange contracts	Other non-interest income	57			761			8			322
Mortgage loan commitments	Loan fees and sales	19			(63		)	527			345
Mortgage loan forward sale contracts	Loan fees and sales	1			4			—			1
Forward TBA contracts	Loan fees and sales	(397		)	390			(726		)	385
Total		$	426		$	2,794		$	2,746		$	3,911

Balance Sheet Offsetting, Derivatives [Table Text Block]

							Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset			Collateral Received/Pledged			Net Amount
June 30, 2016
Assets:
Derivatives subject to master netting agreements	$	34,437	$	—	$	34,437	$	(31	)	$	—		$	34,406
Derivatives not subject to master netting agreements	818		—		818
Total derivatives	35,255		—		35,255
Liabilities:
Derivatives subject to master netting agreements	$	34,993	$	—	$	34,993	$	(31	)	$	(33,218	)	$	1,744
Derivatives not subject to master netting agreements	13		—		13
Total derivatives	35,006		—		35,006
December 31, 2015
Assets:
Derivatives subject to master netting agreements	$	12,071	$	—	$	12,071	$	(94	)	$	—		$	11,977
Derivatives not subject to master netting agreements	700		—		700
Total derivatives	12,771		—		12,771
Liabilities:
Derivatives subject to master netting agreements	$	12,299	$	—	$	12,299	$	(94	)	$	(10,927	)	$	1,278
Derivatives not subject to master netting agreements	430		—		430
Total derivatives	12,729		—		12,729

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Resale and Repurchase Agreements (Tables)

6 Months Ended

Jun. 30, 2016

Resale and Repurchase Agreements [Abstract]

Resale and Repurchase Agreements [Table Text Block]

								Gross Amounts Not Offset in the Balance Sheet
(In thousands)	Gross Amount Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments Available for Offset		Securities Collateral Received/Pledged			Net Amount
June 30, 2016
Total resale agreements, subject to master netting arrangements	$	1,375,000	$	(550,000	)	$	825,000	$	—	$	(825,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	2,150,462		(550,000		)	1,600,462		—		(1,600,462		)	—
December 31, 2015
Total resale agreements, subject to master netting arrangements	$	1,425,000	$	(550,000	)	$	875,000	$	—	$	(875,000	)	$	—
Total repurchase agreements, subject to master netting arrangements	1,956,582		(550,000		)	1,406,582		—		(1,406,582		)	—

Schedule of Underlying Assets of Repurchase Agreements [Table Text Block]

	Remaining Contractual Maturity of the Agreements
(In thousands)	Overnight and continuous		Up to 90 days		Greater than 90 days		Total
June 30, 2016
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	235,265	$	—	$	300,000	$	535,265
Government-sponsored enterprise obligations	257,607		—		—		257,607
Agency mortgage-backed securities	377,702		2,337		250,000		630,039
Asset-backed securities	642,551		85,000		—		727,551
Total repurchase agreements, gross amount recognized	$	1,513,125	$	87,337	$	550,000	$	2,150,462
December 31, 2015
Repurchase agreements, secured by:
U.S. government and federal agency obligations	$	210,346	$	—	$	300,000	$	510,346
Government-sponsored enterprise obligations	356,970		—		24,096		381,066
Agency mortgage-backed securities	579,974		2,292		225,904		808,170
Asset-backed securities	212,000		45,000		—		257,000
Total repurchase agreements, gross amount recognized	$	1,359,290	$	47,292	$	550,000	$	1,956,582

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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

Share-based Compensation [Abstract]

Summary Of The Status Of Nonvested Share Awards

A summary of the status of the Company’s nonvested share awards as of June 30, 2016, and changes during the six month period then ended, is presented below.

	Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2016	1,384,417		$34.38
Granted	209,347		41.81
Vested	(234,655	)	30.45
Forfeited	(23,840	)	36.36
Nonvested at June 30, 2016	1,335,269		$36.20

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The current year per share average fair value and the model assumptions are shown in the table below.

Weighted per share average fair value at grant date		$7.49
Assumptions:
Dividend yield	2.2		%
Volatility	21.2		%
Risk-free interest rate	1.8		%
Expected term	7.2 years

Summary Of SAR Activity

A summary of SAR activity during the first six months of 2016 is presented below.

(Dollars in thousands, except per share data)	Rights		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2016	1,588,457		$33.74
Granted	251,982		41.35
Forfeited	(11,714	)	37.55
Expired	(859	)	37.59
Exercised	(347,100	)	31.48
Outstanding at June 30, 2016	1,480,766		$35.53	5.5 years	$	18,313

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Measurements [Abstract]

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

The table below presents the June 30, 2016 and December 31, 2015 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first six months of 2016 or the year ended December 31, 2015.

			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)
June 30, 2016
Assets:
Residential mortgage loans held for sale	$	7,094	$	—	$	7,094	$	—
Available for sale securities:
U.S. government and federal agency obligations	720,919		720,919		—		—
Government-sponsored enterprise obligations	562,177		—		562,177		—
State and municipal obligations	1,833,861		—		1,816,182		17,679
Agency mortgage-backed securities	2,589,915		—		2,589,915		—
Non-agency mortgage-backed securities	831,616		—		831,616		—
Asset-backed securities	2,298,725		—		2,298,725		—
Other debt securities	339,264		—		339,264		—
Equity securities	44,869		22,047		22,822		—
Trading securities	30,512		—		30,512		—
Private equity investments	62,813		—		—		62,813
Derivatives *	35,255		—		34,464		791
Assets held in trust for deferred compensation plan	9,701		9,701		—		—
Total assets	9,366,721		752,667		8,532,771		81,283
Liabilities:
Derivatives *	35,006		—		34,717		289
Liabilities held in trust for deferred compensation plan	9,701		9,701		—		—
Total liabilities	$	44,707	$	9,701	$	34,717	$	289
December 31, 2015
Assets:
Residential mortgage loans held for sale	$	4,981	$	—	$	4,981	$	—
Available for sale securities:
U.S. government and federal agency obligations	727,076		727,076		—		—
Government-sponsored enterprise obligations	793,023		—		793,023		—
State and municipal obligations	1,741,957		—		1,724,762		17,195
Agency mortgage-backed securities	2,618,281		—		2,618,281		—
Non-agency mortgage-backed securities	879,963		—		879,963		—
Asset-backed securities	2,644,381		—		2,644,381		—
Other debt securities	331,320		—		331,320		—
Equity securities	41,003		20,263		20,740		—
Trading securities	11,890		—		11,890		—
Private equity investments	63,032		—		—		63,032
Derivatives *	12,771		—		12,507		264
Assets held in trust for deferred compensation plan	9,278		9,278		—		—
Total assets	9,878,956		756,617		9,041,848		80,491
Liabilities:
Derivatives *	12,729		—		12,534		195
Liabilities held in trust for deferred compensation plan	9,278		9,278		—		—
Total liabilities	$	22,007	$	9,278	$	12,534	$	195

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

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:

	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 June 30, 2016
Balance March 31, 2016	$	17,209		$	67,432		$	506		$	85,147
Total gains or losses (realized/unrealized):
Included in earnings	—			(2,810		)	(4		)	(2,814		)
Included in other comprehensive income *	401			—			—			401
Discount accretion	69			—			—			69
Purchases of private equity investments	—			575			—			575
Sale/pay down of private equity investments	—			(2,398		)	—			(2,398		)
Capitalized interest/dividends	—			14			—			14
Balance June 30, 2016	$	17,679		$	62,813		$	502		$	80,994
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 June 30, 2016	$	—		$	(2,810	)	$	767		$	(2,043	)
For the six months ended June 30, 2016
Balance January 1, 2016	$	17,195		$	63,032		$	69		$	80,296
Total gains or losses (realized/unrealized):
Included in earnings	—			(3,724		)	469			(3,255		)
Included in other comprehensive income *	502			—			—			502
Investment securities called	(100		)	—			—			(100		)
Discount accretion	82			—			—			82
Purchases of private equity investments	—			5,841			—			5,841
Sale/pay down of private equity investments	—			(2,398		)	—			(2,398		)
Capitalized interest/dividends	—			62			—			62
Sale of risk participation agreement	—			—			(36		)	(36		)
Balance June 30, 2016	$	17,679		$	62,813		$	502		$	80,994
Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2016	$	—		$	(3,724	)	$	732		$	(2,992	)
For the three months ended June 30, 2015
Balance March 31, 2015	$	93,271		$	61,162		$	158		$	154,591
Total gains or losses (realized/unrealized):
Included in earnings	—			875			12			887
Included in other comprehensive income *	(352		)	—			—			(352		)
Discount accretion	21			—			—			21
Purchases of private equity investments	—			1,437			—			1,437
Sale/pay down of private equity investments	—			(4,800		)	—			(4,800		)
Capitalized interest/dividends	—			52			—			52
Balance June 30, 2015	$	92,940		$	58,726		$	170		$	151,836
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 June 30, 2015	$	—		$	875		$	420		$	1,295
For the six months ended June 30, 2015
Balance January 1, 2015	$	95,143		$	57,581		$	(223	)	$	152,501
Total gains or losses (realized/unrealized):
Included in earnings	—			4,175			393			4,568
Included in other comprehensive income *	(354		)	—			—			(354		)
Investment securities called	(2,000		)	—			—			(2,000		)
Discount accretion	151			—			—			151
Purchases of private equity investments	—			1,653			—			1,653
Sale/pay down of private equity investments	—			(4,800		)	—			(4,800		)
Capitalized interest/dividends	—			117			—			117
Balance June 30, 2015	$	92,940		$	58,726		$	170		$	151,836
Total gains or losses for the six months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2015	$	—		$	4,175		$	393		$	4,568

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)	Loan Fees and Sales			Other Non-Interest Income			Investment Securities Gains (Losses), Net			Total
For the three months ended June 30, 2016
Total gains or losses included in earnings	$	19		$	(23	)	$	(2,810	)	$	(2,814	)
Change in unrealized gains or losses relating to assets still held at June 30, 2016	$	790		$	(23	)	$	(2,810	)	$	(2,043	)
For the six months ended June 30, 2016
Total gains or losses included in earnings	$	527		$	(58	)	$	(3,724	)	$	(3,255	)
Change in unrealized gains or losses relating to assets still held at June 30, 2016	$	790		$	(58	)	$	(3,724	)	$	(2,992	)
For the three months ended June 30, 2015
Total gains or losses included in earnings	$	(63	)	$	75		$	875		$	887
Change in unrealized gains or losses relating to assets still held at June 30, 2015	$	345		$	75		$	875		$	1,295
For the six months ended June 30, 2015
Total gains or losses included in earnings	$	345		$	48		$	4,175		$	4,568
Change in unrealized gains or losses relating to assets still held at June 30, 2015	$	345		$	48		$	4,175		$	4,568

Summary Of Quantitative Information About Level 3 Fair Value Measurements

s

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, investments in portfolio concerns held by the Company's private equity subsidiaries, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $17.7 million at June 30, 2016, while private equity investments, included in non-marketable securities, totaled $62.8 million.

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

Quantitative Information about Level 3 Fair Value Measurements						Weighted
	Valuation Technique	Unobservable Input	Range			Average
Auction rate securities	Discounted cash flow	Estimated market recovery period			5 years
		Estimated market rate	2.3%	-	3.4%
Private equity investments	Market comparable companies	EBITDA multiple	4.0	-	5.5
Mortgage loan commitments	Discounted cash flow	Probability of funding	59.4%	-	95.6%	78.9%
		Embedded servicing value	.9%	-	1.0%	1.0%

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

s

For assets measured at fair value on a nonrecurring basis during the first six months of 2016 and 2015, and still held as of June 30, 2016 and 2015, 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 June 30, 2016 and 2015.

			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 Six Months Ended June 30, 2016
June 30, 2016
Collateral dependent impaired loans	$	5,001	$	—	$	—	$	5,001	$	(1,491	)
Mortgage servicing rights	2,191		—		—		2,191		(2		)
Foreclosed assets	28		—		—		28		(10		)
Long-lived assets	1,871		—		—		1,871		(956		)
June 30, 2015
Collateral dependent impaired loans	$	3,897	$	—	$	—	$	3,897	$	(1,340	)
Mortgage servicing rights	1,242		—		—		1,242		53
Foreclosed assets	608		—		—		608		(162		)
Long-lived assets	2,425		—		—		2,425		(1,667		)

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Fair Value Of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Of Financial Instruments [Abstract]

Fair value of financial instruments [Table Text Block]

	Fair Value Hierarchy Level	June 30, 2016				December 31, 2015
(In thousands)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Loans:
Business	Level 3	$	4,840,248	$	4,902,110	$	4,397,893	$	4,421,237
Real estate - construction and land	Level 3	819,896		829,857		624,070		633,083
Real estate - business	Level 3	2,399,271		2,448,134		2,355,544		2,387,101
Real estate - personal	Level 3	1,927,340		1,976,674		1,915,953		1,940,863
Consumer	Level 3	1,939,486		1,943,943		1,924,365		1,916,747
Revolving home equity	Level 3	408,301		410,995		432,981		434,607
Consumer credit card	Level 3	753,166		769,991		779,744		793,428
Overdrafts	Level 3	4,180		4,180		6,142		6,142
Loans held for sale	Level 2	33,254		33,337		7,607		7,607
Investment securities:
Available for sale	Level 1	742,966		742,966		747,339		747,339
Available for sale	Level 2	8,460,701		8,460,701		9,012,470		9,012,470
Available for sale	Level 3	17,679		17,679		17,195		17,195
Trading	Level 2	30,512		30,512		11,890		11,890
Non-marketable	Level 3	111,931		111,931		112,786		112,786
Federal funds sold	Level 1	13,725		13,725		14,505		14,505
Securities purchased under agreements to resell	Level 3	825,000		833,366		875,000		879,546
Interest earning deposits with banks	Level 1	183,223		183,223		23,803		23,803
Cash and due from banks	Level 1	428,300		428,300		464,411		464,411
Derivative instruments	Level 2	34,464		34,464		12,507		12,507
Derivative instruments	Level 3	791		791		264		264
Assets held in trust for deferred compensation plan	Level 1	9,701		9,701		9,278		9,278
Financial Liabilities
Non-interest bearing deposits	Level 1	$	6,906,265	$	6,906,265	$	7,146,398	$	7,146,398
Savings, interest checking and money market deposits	Level 1	10,978,734		10,978,734		10,834,746		10,834,746
Time open and certificates of deposit	Level 3	2,265,048		2,264,742		1,997,709		1,993,521
Federal funds purchased	Level 1	31,810		31,810		556,970		556,970
Securities sold under agreements to repurchase	Level 3	1,600,462		1,600,553		1,406,582		1,406,670
Other borrowings	Level 3	103,878		107,967		103,818		108,542
Derivative instruments	Level 2	34,717		34,717		12,534		12,534
Derivative instruments	Level 3	289		289		195		195
Liabilities held in trust for deferred compensation plan	Level 1	9,701		9,701		9,278		9,278

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Loans And Allowance For Loan Losses (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Loans And Allowance For Loan Losses [Abstract]
Loans pledged at the Federal Home Loan Bank as collateral for borrowings and letters of credit obtained to secure public deposits	$ 3,700,000,000		$ 3,700,000,000
Loans Pledged to the Federal Reserve Bank as collateral for discount window borrowings	1,600,000,000		1,600,000,000
Troubled Debt Restructured Loans	61,500,000		61,500,000
Accruing Restructured Loans	46,669,000		46,669,000		$ 38,739,000
Restructured Loans NonAccrual	14,800,000		14,800,000
Restructured commercial loans performing under their modified terms	30,300,000		30,300,000
Aggregate restructured credit card loans held	7,700,000		7,700,000
Restructured Loans Due to Bankruptcy Proceeding	8,300,000		$ 8,300,000
Period after which loans are deemed in default (in days)			90 days
Effect on Interest Income Resulting From Modification to Credit Card Loans			$ (970,000)
Commitments to lend additional funds to customers with restructured loans	11,600,000		11,600,000
Fair Value of Personal Real Estate Loans Held for Sale	7,100,000		7,100,000
Unpaid Principal Balance on Personal Real Estate Loans Held for Sale	6,800,000		6,800,000
Student Loans Held for Sale, Lower of Cost or Fair Value	5,300,000		5,300,000
Auto loans designated as held for sale		$ 50,400,000	50,360,000	$ 0
Percentage of Held-For-Sale Loans to Total Auto Loan Portfolio		5.00%
Cost of Auto Loans Sold	21,800,000
Gain (Loss) on Sales of Loans, Net			114,000
Auto loans held for sale	20,800,000		20,800,000
Non-accrual HFS loans	0		0
Loans HFS 90 Days Past Due and Still Accruing	22,000		22,000
Foreclosed real estate	1,600,000		1,600,000		2,800,000
Personal property acquired in repossession	$ 2,800,000		$ 2,800,000		$ 3,300,000

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Loans And Allowance For Loan Losses (Summary Classification Of Held To Maturity Loan Portfolio) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Loans And Allowance For Loan Losses [Line Items]
Total loans	$ 13,091,888	$ 12,436,692
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	4,840,248	4,397,893
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	819,896	624,070
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	2,399,271	2,355,544
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	1,927,340	1,915,953
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	1,939,486	1,924,365
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	408,301	432,981
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	753,166	779,744
Overdrafts [Member]
Loans And Allowance For Loan Losses [Line Items]
Total loans	$ 4,180	$ 6,142

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Loans And Allowance For Loan Losses (Summary Of Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	$ 152,132	$ 153,532	$ 151,532	$ 156,532
Provision	9,216	6,757	18,655	11,177
Loans charged off	12,645	12,705	25,935	25,005
Less recoveries on loans	5,129	3,948	9,580	8,828
Net loan charge-offs (recoveries)	7,516	8,757	16,355	16,177
Balance at end of period	153,832	151,532	153,832	151,532
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	86,027	88,906	82,086	89,622
Provision	1,569	(2,361)	5,720	(4,113)
Loans charged off	661	1,408	2,174	2,132
Less recoveries on loans	2,263	1,192	3,566	2,952
Net loan charge-offs (recoveries)	(1,602)	216	(1,392)	(820)
Balance at end of period	89,198	86,329	89,198	86,329
Personal Banking Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	66,105	64,626	69,446	66,910
Provision	7,647	9,118	12,935	15,290
Loans charged off	11,984	11,297	23,761	22,873
Less recoveries on loans	2,866	2,756	6,014	5,876
Net loan charge-offs (recoveries)	9,118	8,541	17,747	16,997
Balance at end of period	$ 64,634	$ 65,203	$ 64,634	$ 65,203

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Loans And Allowance For Loan Losses (Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Loans And Allowance For Loan Losses [Line Items]
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment	$ 13,020,695	$ 12,371,378
Impaired Financing Receivable, Recorded Investment	71,193	65,314
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance	150,928	148,048
Impaired Financing Receivable, Related Allowance	2,904	3,484
Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment	8,009,720	7,334,480
Impaired Financing Receivable, Recorded Investment	49,695	43,027
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance	87,627	80,159
Impaired Financing Receivable, Related Allowance	1,571	1,927
Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans And Leases Receivable Excluding Impaired Financing Receivables Recorded Investment	5,010,975	5,036,898
Impaired Financing Receivable, Recorded Investment	21,498	22,287
Loans and Leases Receivable Allowance Excluding Impaired Financing Receivable Related Allowance	63,301	67,889
Impaired Financing Receivable, Related Allowance	$ 1,333	$ 1,557

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Loans And Allowance For Loan Losses (Investment In Impaired Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Loans And Allowance For Loan Losses [Abstract]
Non-accrual loans	$ 24,524	$ 26,575
Restructured loans (accruing)	46,669	38,739
Total impaired loans	$ 71,193	$ 65,314

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Loans And Allowance For Loan Losses (Additional Information About Impaired Loans Held) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	$ 17,361	$ 17,457
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	22,313	27,370
Impaired Financing Receivable, with Related Allowance, Recorded Investment	53,832	47,857
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	59,030	56,768
Impaired Financing Receivable, Related Allowance	2,904	3,484
Impaired Financing Receivable, Recorded Investment	71,193	65,314
Impaired Financing Receivable, Unpaid Principal Balance	81,343	84,138
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	11,777	9,330
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	15,217	11,777
Impaired Financing Receivable, with Related Allowance, Recorded Investment	24,905	18,227
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	25,639	20,031
Impaired Financing Receivable, Related Allowance	1,059	1,119
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,160	2,961
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	3,462	8,956
Impaired Financing Receivable, with Related Allowance, Recorded Investment	160	1,227
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	162	2,804
Impaired Financing Receivable, Related Allowance	7	63
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	3,072	4,793
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	3,261	6,264
Impaired Financing Receivable, with Related Allowance, Recorded Investment	7,621	6,489
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	9,145	9,008
Impaired Financing Receivable, Related Allowance	505	745
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	352	373
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	373	373
Impaired Financing Receivable, with Related Allowance, Recorded Investment	7,419	7,667
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	10,310	10,530
Impaired Financing Receivable, Related Allowance	694	831
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	5,596	5,599
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	5,596	5,599
Impaired Financing Receivable, Related Allowance	68	63
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	400	704
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	447	852
Impaired Financing Receivable, Related Allowance	21	67
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	7,731	7,944
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	7,731	7,944
Impaired Financing Receivable, Related Allowance	$ 550	$ 596

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Loans And Allowance For Loan Losses (Total Average Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Loans And Allowance For Loan Losses [Line Items]
Non-accrual loans	$ 26,559	$ 31,011	$ 26,093	$ 34,257
Restructured loans (accruing)	46,072	33,222	45,476	37,421
Total	72,631	64,233	71,569	71,678
Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Non-accrual loans	22,098	25,063	21,551	28,155
Restructured loans (accruing)	28,775	14,254	27,977	18,245
Total	50,873	39,317	49,528	46,400
Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Non-accrual loans	4,461	5,948	4,542	6,102
Restructured loans (accruing)	17,297	18,968	17,499	19,176
Total	$ 21,758	$ 24,916	$ 22,041	$ 25,278

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Loans And Allowance For Loan Losses (Interest Income Recognized on Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	$ 589	$ 417	$ 1,175	$ 831
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	236	42	472	84
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	3	42	5	84
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	56	15	112	30
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	42	48	84	96
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	89	85	177	169
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	4	6	7	11
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Interest income recognized	$ 159	$ 179	$ 318	$ 357

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Loans And Allowance For Loan Losses (Aging Information On Past Due And Accruing Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	$ 12,997,717	$ 12,344,207
30 - 89 Days Past Due	53,755	49,443
90 Days Past Due and Still Accruing	15,892	16,467
Non-accrual loans	24,524	26,575
Total	13,091,888	12,436,692
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	4,840,248	4,397,893
Business [Member] | Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	4,815,328	4,384,149
30 - 89 Days Past Due	11,924	2,306
90 Days Past Due and Still Accruing	280	564
Non-accrual loans	12,716	10,874
Total	4,840,248	4,397,893
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	819,896	624,070
Real Estate - Construction And Land [Member] | Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	815,890	617,838
30 - 89 Days Past Due	1,836	3,142
90 Days Past Due and Still Accruing	0	0
Non-accrual loans	2,170	3,090
Total	819,896	624,070
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	2,399,271	2,355,544
Real Estate - Business [Member] | Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	2,388,292	2,340,919
30 - 89 Days Past Due	3,743	6,762
90 Days Past Due and Still Accruing	2,000	0
Non-accrual loans	5,236	7,863
Total	2,399,271	2,355,544
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	1,927,340	1,915,953
Real Estate - Personal [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	1,913,469	1,901,330
30 - 89 Days Past Due	7,083	7,117
90 Days Past Due and Still Accruing	2,495	3,081
Non-accrual loans	4,293	4,425
Total	1,927,340	1,915,953
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	1,939,486	1,924,365
Consumer [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	1,919,044	1,903,389
30 - 89 Days Past Due	17,896	18,273
90 Days Past Due and Still Accruing	2,546	2,703
Non-accrual loans	0	0
Total	1,939,486	1,924,365
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	408,301	432,981
Revolving Home Equity [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	403,831	427,998
30 - 89 Days Past Due	2,993	2,641
90 Days Past Due and Still Accruing	1,368	2,019
Non-accrual loans	109	323
Total	408,301	432,981
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	753,166	779,744
Consumer Credit Card [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	737,946	762,750
30 - 89 Days Past Due	8,017	8,894
90 Days Past Due and Still Accruing	7,203	8,100
Non-accrual loans	0	0
Total	753,166	779,744
Overdrafts [Member]
Loans And Allowance For Loan Losses [Line Items]
Total	4,180	6,142
Overdrafts [Member] | Personal Banking Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Current or Less than 30 Days Past Due	3,917	5,834
30 - 89 Days Past Due	263	308
90 Days Past Due and Still Accruing	0	0
Non-accrual loans	0	0
Total	$ 4,180	$ 6,142

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Loans And Allowance For Loan Losses (Credit Quality Of Commercial Loan Portfolio) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Loans And Allowance For Loan Losses [Line Items]
Loans	$ 13,091,888	$ 12,436,692
Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	4,840,248	4,397,893
Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	819,896	624,070
Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	2,399,271	2,355,544
Commercial Portfolio Segment [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	8,059,415	7,377,507
Commercial Portfolio Segment [Member] | Pass [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	7,829,267	7,179,210
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	100,117	65,344
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	109,909	111,126
Commercial Portfolio Segment [Member] | Non-Accrual [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	20,122	21,827
Commercial Portfolio Segment [Member] | Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	4,840,248	4,397,893
Commercial Portfolio Segment [Member] | Business [Member] | Pass [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	4,702,346	4,278,857
Commercial Portfolio Segment [Member] | Business [Member] | Special Mention [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	66,786	49,302
Commercial Portfolio Segment [Member] | Business [Member] | Substandard [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	58,400	58,860
Commercial Portfolio Segment [Member] | Business [Member] | Non-Accrual [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	12,716	10,874
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	819,896	624,070
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | Pass [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	808,815	618,788
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | Special Mention [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	8,561	1,033
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | Substandard [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	350	1,159
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member] | Non-Accrual [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	2,170	3,090
Commercial Portfolio Segment [Member] | Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	2,399,271	2,355,544
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | Pass [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	2,318,106	2,281,565
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | Special Mention [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	24,770	15,009
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | Substandard [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	51,159	51,107
Commercial Portfolio Segment [Member] | Real Estate - Business [Member] | Non-Accrual [Member]
Loans And Allowance For Loan Losses [Line Items]
Loans	$ 5,236	$ 7,863

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Loans And Allowance For Loan Losses (Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding ) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Loans And Allowance For Loan Losses [Line Items]
Credit Quality Personal Real Estate Loans Excluded	$ 259.7	$ 257.8
Credit quality personal banking loan table percentage loans excluded	5.20%
Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	100.00%	100.00%
Real Estate - Personal [Member] | Fico Under Six Hundred [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	1.50%	1.50%
Real Estate - Personal [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	2.80%	3.00%
Real Estate - Personal [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	9.60%	9.10%
Real Estate - Personal [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	24.40%	25.00%
Real Estate - Personal [Member] | Fico Seven Hundred Eighty And Above [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	61.70%	61.40%
Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	100.00%	100.00%
Consumer [Member] | Fico Under Six Hundred [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	4.30%	4.50%
Consumer [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	8.90%	9.70%
Consumer [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	21.60%	21.80%
Consumer [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	26.20%	26.40%
Consumer [Member] | Fico Seven Hundred Eighty And Above [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	39.00%	37.60%
Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	100.00%	100.00%
Revolving Home Equity [Member] | Fico Under Six Hundred [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	1.30%	1.50%
Revolving Home Equity [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	3.90%	3.90%
Revolving Home Equity [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	13.40%	13.60%
Revolving Home Equity [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	28.40%	28.40%
Revolving Home Equity [Member] | Fico Seven Hundred Eighty And Above [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	53.00%	52.60%
Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	100.00%	100.00%
Consumer Credit Card [Member] | Fico Under Six Hundred [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	4.00%	3.90%
Consumer Credit Card [Member] | Fico Six Hundred To Six Hundred Fifty Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	11.80%	12.00%
Consumer Credit Card [Member] | Fico Six Hundred Sixty To Seven Hundred Nineteen [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	31.40%	31.70%
Consumer Credit Card [Member] | Fico Seven Hundred Twenty To Seven Hundred Seventy Nine [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	28.00%	27.90%
Consumer Credit Card [Member] | Fico Seven Hundred Eighty And Above [Member]
Loans And Allowance For Loan Losses [Line Items]
Percentage of Loan Category	24.80%	24.50%

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Loans And Allowance For Loan Losses (Outstanding Balance Of Loans Classified As Troubled Debt Restructurings) (Details) $ in Thousands	Jun. 30, 2016 USD ($)
Loans And Allowance For Loan Losses [Line Items]
Restructured loans	$ 61,490
Balance 90 days past due at any time during previous 12 months	1,277
Commercial Portfolio Segment [Member] | Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Restructured loans	35,833
Balance 90 days past due at any time during previous 12 months	0
Commercial Portfolio Segment [Member] | Real Estate - Construction And Land [Member]
Loans And Allowance For Loan Losses [Line Items]
Restructured loans	1,736
Balance 90 days past due at any time during previous 12 months	0
Commercial Portfolio Segment [Member] | Real Estate - Business [Member]
Loans And Allowance For Loan Losses [Line Items]
Restructured loans	5,457
Balance 90 days past due at any time during previous 12 months	0
Personal Banking Portfolio Segment [Member] | Real Estate - Personal [Member]
Loans And Allowance For Loan Losses [Line Items]
Restructured loans	4,823
Balance 90 days past due at any time during previous 12 months	683
Personal Banking Portfolio Segment [Member] | Consumer [Member]
Loans And Allowance For Loan Losses [Line Items]
Restructured loans	5,619
Balance 90 days past due at any time during previous 12 months	57
Personal Banking Portfolio Segment [Member] | Revolving Home Equity [Member]
Loans And Allowance For Loan Losses [Line Items]
Restructured loans	291
Balance 90 days past due at any time during previous 12 months	33
Personal Banking Portfolio Segment [Member] | Consumer Credit Card [Member]
Loans And Allowance For Loan Losses [Line Items]
Restructured loans	7,731
Balance 90 days past due at any time during previous 12 months	$ 504

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Investment Securities (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016 USD ($) Securities	Dec. 31, 2015 USD ($) Securities	Jun. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)
Investment [Line Items]
Non-marketable FHLB and FRB stock held for debt and regulatory purposes	$ 46,900	$ 46,800
Non-marketable private equity investments held	64,700	65,600
U.S. Treasury inflation-protected securities held, at fair value	$ 400,500
Percentage decrease requiring a review for impairment	20.00%
Fair value of securities on other-than-temporary impairment watch list	$ 78,900	95,800
Credit-related portion of impairments included in earnings, for securities on watch list	$ 14,362	$ 14,129	$ 14,166	$ 13,734
Number of individual securities held in the available for sale portfolio | Securities	2,000
Securities in Unrealized Loss Positions, Number of Positions | Securities	145	466
Fair value of securities in an unrealized loss position	$ 877,439	$ 5,120,187
AFS securities in loss position at period-end, change in unrealized loss	(38,400)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 14,245	52,620
Minimum period that OTTI securities have been in a loss position	12 months
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 312,122	767,349
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Percent of Portfolio	3.40%
Securities pledged as collateral	$ 4,600,000
Securities pledged as collateral and may be sold or re-pledged	$ 583,200
Number of investments in a single issuer that exceed 10% of stockholder's equity	0
No investment in a single issuer exceeds this percentage of stockholder's equity	10.00%
State And Municipal Obligations [Member]
Investment [Line Items]
Fair value of securities in an unrealized loss position	$ 26,853	98,118
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	692	1,739
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	9,478	31,120
Available-for-sale Securities, Excluding Auction Rate Securities	$ 1,800,000
State and municipal obligation portfolio, excluding auction rate securities, as a percentage of total available for sale securities	19.90%
Equity Securities [Member]
Investment [Line Items]
Common stock held by the holding company	$ 44,800
Non-Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Fair value of securities on other-than-temporary impairment watch list	37,100
Credit-related portion of impairments included in earnings, for securities on watch list	14,400
Fair value of securities in an unrealized loss position	61,201	708,139
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	104	7,819
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 57,411	$ 54,536

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Investment Securities (Investment Securities, At Fair Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment Securities [Abstract]
Available for sale securities	$ 9,221,346	$ 9,777,004
Trading securities	30,512	11,890
Non-marketable	111,931	112,786
Total investment securities	$ 9,363,789	$ 9,901,680

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Investment Securities (Summary Of Available For Sale Investment Securities By Maturity Groupings) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment [Line Items]
Amortized Cost	$ 8,972,472	$ 9,691,414
Fair Value	9,221,346	9,777,004
U.S. Government And Federal Agency Obligations [Member]
Investment [Line Items]
Amortized Cost	700,801	729,846
Fair Value	720,919	727,076
U.S. Government And Federal Agency Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member]
Investment [Line Items]
Amortized Cost	59,365
Fair Value	59,898
U.S. Government And Federal Agency Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member]
Investment [Line Items]
Amortized Cost	499,992
Fair Value	517,665
U.S. Government And Federal Agency Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member]
Investment [Line Items]
Amortized Cost	105,802
Fair Value	109,977
U.S. Government And Federal Agency Obligations [Member] | Available For Sale Maturity After10 Years [Member]
Investment [Line Items]
Amortized Cost	35,642
Fair Value	33,379
Government-Sponsored Enterprise Obligations [Member]
Investment [Line Items]
Amortized Cost	554,030	794,912
Fair Value	562,177	793,023
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member]
Investment [Line Items]
Amortized Cost	81,208
Fair Value	81,302
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member]
Investment [Line Items]
Amortized Cost	452,204
Fair Value	459,978
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member]
Investment [Line Items]
Amortized Cost	14,988
Fair Value	15,260
Government-Sponsored Enterprise Obligations [Member] | Available For Sale Maturity After10 Years [Member]
Investment [Line Items]
Amortized Cost	5,630
Fair Value	5,637
State And Municipal Obligations [Member]
Investment [Line Items]
Amortized Cost	1,764,118	1,706,635
Fair Value	1,833,861	1,741,957
State And Municipal Obligations [Member] | Available For Sale Securities Maturity Within1 Year [Member]
Investment [Line Items]
Amortized Cost	135,577
Fair Value	136,305
State And Municipal Obligations [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member]
Investment [Line Items]
Amortized Cost	642,897
Fair Value	662,010
State And Municipal Obligations [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member]
Investment [Line Items]
Amortized Cost	923,727
Fair Value	971,348
State And Municipal Obligations [Member] | Available For Sale Maturity After10 Years [Member]
Investment [Line Items]
Amortized Cost	61,917
Fair Value	64,198
Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Amortized Cost	2,509,991	2,579,031
Fair Value	2,589,915	2,618,281
Non-Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Amortized Cost	814,917	879,186
Fair Value	831,616	879,963
Asset-Backed Securities [Member]
Investment [Line Items]
Amortized Cost	2,293,845	2,660,201
Fair Value	2,298,725	2,644,381
Total Mortgage And Asset-Backed Securities [Member]
Investment [Line Items]
Amortized Cost	5,618,753	6,118,418
Fair Value	5,720,256	6,142,625
Other Debt Securities [Member]
Investment [Line Items]
Amortized Cost	329,092	335,925
Fair Value	339,264	331,320
Other Debt Securities [Member] | Available For Sale Securities Maturity Within1 Year [Member]
Investment [Line Items]
Amortized Cost	5,996
Fair Value	6,052
Other Debt Securities [Member] | Available For Sale Securities Maturity After1 But Within5 Years [Member]
Investment [Line Items]
Amortized Cost	88,771
Fair Value	90,755
Other Debt Securities [Member] | Available For Sale Securities Maturity After5 But Within10 Years [Member]
Investment [Line Items]
Amortized Cost	222,737
Fair Value	231,176
Other Debt Securities [Member] | Available For Sale Maturity After10 Years [Member]
Investment [Line Items]
Amortized Cost	11,588
Fair Value	11,281
Equity Securities [Member]
Investment [Line Items]
Amortized Cost	5,678	5,678
Fair Value	$ 44,869	$ 41,003

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Investment Securities (Available For Sale Securities Unrealized Gains And Losses, By Security Type) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment [Line Items]
Amortized Cost	$ 8,972,472	$ 9,691,414
Gross unreailzed gain in accumulated other comprehensive income at period end	263,119	138,210
Gross unreailzed losses in accumulated other comprehensive income at period end	(14,245)	(52,620)
Fair Value	9,221,346	9,777,004
U.S. Government And Federal Agency Obligations [Member]
Investment [Line Items]
Amortized Cost	700,801	729,846
Gross unreailzed gain in accumulated other comprehensive income at period end	22,381	5,051
Gross unreailzed losses in accumulated other comprehensive income at period end	(2,263)	(7,821)
Fair Value	720,919	727,076
Government-Sponsored Enterprise Obligations [Member]
Investment [Line Items]
Amortized Cost	554,030	794,912
Gross unreailzed gain in accumulated other comprehensive income at period end	8,147	2,657
Gross unreailzed losses in accumulated other comprehensive income at period end	0	(4,546)
Fair Value	562,177	793,023
State And Municipal Obligations [Member]
Investment [Line Items]
Amortized Cost	1,764,118	1,706,635
Gross unreailzed gain in accumulated other comprehensive income at period end	70,435	37,061
Gross unreailzed losses in accumulated other comprehensive income at period end	(692)	(1,739)
Fair Value	1,833,861	1,741,957
Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Amortized Cost	2,509,991	2,579,031
Gross unreailzed gain in accumulated other comprehensive income at period end	79,952	47,856
Gross unreailzed losses in accumulated other comprehensive income at period end	(28)	(8,606)
Fair Value	2,589,915	2,618,281
Non-Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Amortized Cost	814,917	879,186
Gross unreailzed gain in accumulated other comprehensive income at period end	16,803	8,596
Gross unreailzed losses in accumulated other comprehensive income at period end	(104)	(7,819)
Fair Value	831,616	879,963
Asset-Backed Securities [Member]
Investment [Line Items]
Amortized Cost	2,293,845	2,660,201
Gross unreailzed gain in accumulated other comprehensive income at period end	15,664	1,287
Gross unreailzed losses in accumulated other comprehensive income at period end	(10,784)	(17,107)
Fair Value	2,298,725	2,644,381
Total Mortgage And Asset-Backed Securities [Member]
Investment [Line Items]
Amortized Cost	5,618,753	6,118,418
Gross unreailzed gain in accumulated other comprehensive income at period end	112,419	57,739
Gross unreailzed losses in accumulated other comprehensive income at period end	(10,916)	(33,532)
Fair Value	5,720,256	6,142,625
Other Debt Securities [Member]
Investment [Line Items]
Amortized Cost	329,092	335,925
Gross unreailzed gain in accumulated other comprehensive income at period end	10,546	377
Gross unreailzed losses in accumulated other comprehensive income at period end	(374)	(4,982)
Fair Value	339,264	331,320
Equity Securities [Member]
Investment [Line Items]
Amortized Cost	5,678	5,678
Gross unreailzed gain in accumulated other comprehensive income at period end	39,191	35,325
Gross unreailzed losses in accumulated other comprehensive income at period end	0	0
Fair Value	$ 44,869	$ 41,003

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Investment Securities (Cash Flow Model Inputs Used To Calculate Credit Losses) (Details)	Jun. 30, 2016
Minimum [Member]
Investment [Line Items]
Prepayment CPR	0.00%
Projected cumulative default	17.00%
Credit support	0.00%
Loss severity	18.00%
Maximum [Member]
Investment [Line Items]
Prepayment CPR	25.00%
Projected cumulative default	52.00%
Credit support	27.00%
Loss severity	63.00%

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Investment Securities (Changes In Recorded Credit Losses) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 14,362	$ 14,166	$ 14,129	$ 13,734
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment	0	76
Credit losses on debt securities for which impairment was previously recognized	270	407
Increase in expected cash flows that are recognized over remaining life of security	$ (37)	$ (51)

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Investment Securities (Securities With Unrealized Losses And Length Of Impairment Period) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment [Line Items]
Less than 12 months, Fair Value	$ 565,317	$ 4,352,838
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	7,140	31,844
12 months or longer, Fair Value	312,122	767,349
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	7,105	20,776
Total, Fair Value	877,439	5,120,187
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	14,245	52,620
U.S. Government And Federal Agency Obligations [Member]
Investment [Line Items]
Less than 12 months, Fair Value	0	491,998
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	3,098
12 months or longer, Fair Value	33,379	31,012
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2,263	4,723
Total, Fair Value	33,379	523,010
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	2,263	7,821
Government-Sponsored Enterprise Obligations [Member]
Investment [Line Items]
Less than 12 months, Fair Value	0	157,830
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	1,975
12 months or longer, Fair Value	0	110,250
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	2,571
Total, Fair Value	0	268,080
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	0	4,546
State And Municipal Obligations [Member]
Investment [Line Items]
Less than 12 months, Fair Value	17,375	66,998
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	334	544
12 months or longer, Fair Value	9,478	31,120
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	358	1,195
Total, Fair Value	26,853	98,118
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	692	1,739
Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	14,257	530,035
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	22	2,989
12 months or longer, Fair Value	2,611	291,902
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	6	5,617
Total, Fair Value	16,868	821,937
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	28	8,606
Non-Agency Mortgage-Backed Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	3,790	653,603
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	2	7,059
12 months or longer, Fair Value	57,411	54,536
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	102	760
Total, Fair Value	61,201	708,139
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	104	7,819
Asset-Backed Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	529,895	2,207,922
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	6,782	12,492
12 months or longer, Fair Value	189,558	223,311
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	4,002	4,615
Total, Fair Value	719,453	2,431,233
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	10,784	17,107
Total Mortgage And Asset-Backed Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	547,942	3,391,560
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	6,806	22,540
12 months or longer, Fair Value	249,580	569,749
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	4,110	10,992
Total, Fair Value	797,522	3,961,309
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	10,916	33,532
Debt Securities [Member]
Investment [Line Items]
Less than 12 months, Fair Value	0	244,452
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	3,687
12 months or longer, Fair Value	19,685	25,218
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	374	1,295
Total, Fair Value	19,685	269,670
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 374	$ 4,982

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Investment Securities (Proceeds From Sales Of Securities And Components Of Investment Securities Gains And Losses) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016		Jun. 30, 2015
Investment [Line Items]
Proceeds from sales of available for sale securities				$ 0		$ 675,870
Proceeds from sales of non-marketable securities				2,071		7,332
Total proceeds	[1]			2,071		683,202
Investment securities gains (losses), net		$ (744)	$ 2,143	(1,739)	[1]	8,178	[1]
Available-for-sale Securities [Member]
Investment [Line Items]
Available-for-sale Securities, gross realized gains on sales				0		2,813
Other-than-temporary impairment recognized on debt securities				(270)		(483)
Non-Marketable [Member]
Investment [Line Items]
Gains realized on sales				2,260		1,673
Fair value adjustments, net				$ (3,729)		$ 4,175

[1] Available for sale and non-marketable securities

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Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 399	$ 472	$ 794	$ 945

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Goodwill And Other Intangible Assets (Schedule Of Intangible Assets With Estimable Useful Lives) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 36,091	$ 35,908
Accumulated Amortization	(29,499)	(29,210)
Valuation Allowance	(31)	(29)
Net Amount	6,561	6,669
Core Deposit Premium [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	31,270	31,270
Accumulated Amortization	(26,900)	(26,239)
Valuation Allowance	0	0
Net Amount	4,370	5,031
Mortgage Servicing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,821	4,638
Accumulated Amortization	(2,599)	(2,971)
Valuation Allowance	(31)	(29)
Net Amount	$ 2,191	$ 1,638

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Goodwill And Other Intangible Assets (Schedule Of Estimated Annual Amortization Expense) (Details) $ in Thousands	Jun. 30, 2016 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2016	$ 1,527
2017	1,162
2018	892
2019	737
2020	$ 602

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Goodwill And Other Intangible Assets (Schedule Of Changes In Carrying Amount Of Goodwill And Net Other Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Goodwill and Intangible Assets [Roll Forward]
Amortization	$ (399)	$ (472)	$ (794)	$ (945)
Goodwill [Member]
Goodwill and Intangible Assets [Roll Forward]
Originations			0
Amortization			0
Impairment reversal			0
Intangible Assets, Net (Including Goodwill)	138,921		138,921		$ 138,921
Core Deposit Premium [Member]
Goodwill and Intangible Assets [Roll Forward]
Originations			0
Amortization			(661)
Impairment reversal			0
Intangible Assets, Net (Including Goodwill)	4,370		4,370		5,031
Mortgage Servicing Rights [Member]
Goodwill and Intangible Assets [Roll Forward]
Originations			688
Amortization			(133)
Impairment reversal			(2)
Intangible Assets, Net (Including Goodwill)	$ 2,191		$ 2,191		$ 1,638

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Goodwill And Other Intangible Assets (Schedule Of Goodwill Allocated By Operating Segments) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Goodwill [Line Items]
Goodwill	$ 138,921	$ 138,921
Consumer Segment [Member]
Goodwill [Line Items]
Goodwill	70,721	70,721
Commercial Segment [Member]
Goodwill [Line Items]
Goodwill	67,454	67,454
Wealth Segment [Member]
Goodwill [Line Items]
Goodwill	$ 746	$ 746

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Guarantees (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Guarantor Obligations [Line Items]
Derivative Liabilities	$ 35,006	$ 12,729
Notional amount of underlying interest rate swaps associated with risk participation agreements	1,467,355	$ 1,184,666
Financial Standby Letter Of Credit [Member]
Guarantor Obligations [Line Items]
Standby letters of credit, net liability	2,600
Contractual amount of letters of credit, guaranteed maximum potential future payments	359,000
Risk Participation Agreement [Member] | Indirect Guarantee Of Indebtedness [Member]
Guarantor Obligations [Line Items]
Derivative Liabilities	289
Notional amount of underlying interest rate swaps associated with risk participation agreements	$ 58,000
Minimum [Member] | Risk Participation Agreement [Member]
Guarantor Obligations [Line Items]
Term, in years	3 years
Maximum [Member] | Risk Participation Agreement [Member]
Guarantor Obligations [Line Items]
Term, in years	11 years

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Pension Pension (Narrative) (Details)	6 Months Ended
	Jun. 30, 2016 USD ($)
Pension (Narrative) [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	$ 0
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 0

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Pension (Net Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension [Abstract]
Service cost - benefits earned during the period	$ 138	$ 126	$ 271	$ 252
Interest cost on projected benefit obligation	1,005	1,216	1,972	2,432
Expected Return on Plan Assets	(1,439)	(1,523)	(2,876)	(3,046)
Amortization of Prior Service Cost	(67)	0	(135)	0
Amortization of unrecognized net loss	642	654	1,293	1,309
Net periodic pension cost	$ 279	$ 473	$ 525	$ 947

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Pension Pension (Change in Accounting Estimate) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Change in Accounting Estimate [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost	$ 279	$ 473	$ 525	$ 947
Change in Assumptions for Pension Plans [Member]
Change in Accounting Estimate [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost			$ (851)

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Common Stock (Summary Of Components Used To Calculate Basic And Diluted Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Commerce Bancshares, Inc.	$ 69,893	$ 74,353	$ 135,267	$ 135,408
Preferred Stock Dividends	2,250	2,250	4,500	4,500
Net Income (Loss) Available to Common Stockholders	$ 67,643	$ 72,103	$ 130,767	$ 130,908
Basic income per common share	$ 0.70	$ 0.72	$ 1.35	$ 1.30
Diluted income per common share	$ 0.70	$ 0.72	$ 1.35	$ 1.30
Basic Income Per Common Share [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Available to Common Stockholders	$ 67,643	$ 72,103	$ 130,767	$ 130,908
Less income allocated to nonvested restricted stockholders	940	997	1,834	1,793
Net income available to common stockholders	$ 66,703	$ 71,106	$ 128,933	$ 129,115
Weighted average common shares outstanding	95,382	99,099	95,474	99,573
Basic income per common share	$ 0.70	$ 0.72	$ 1.35	$ 1.30
Diluted Income Per Common Share [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Available to Common Stockholders, Diluted	$ 67,643	$ 72,103	$ 130,767	$ 130,908
Less income allocated to nonvested restricted stockholders	938	995	1,831	1,789
Net income available to common stockholders	$ 66,705	$ 71,108	$ 128,936	$ 129,119
Weighted average common shares outstanding	95,382	99,099	95,474	99,573
Net effect of the assumed exercise of stock-based awards - based on the treasury stock method using the average market price for the respective periods	249	338	232	327
Weighted average diluted common shares outstanding	95,631	99,437	95,706	99,900
Diluted income per common share	$ 0.70	$ 0.72	$ 1.35	$ 1.30

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Common Stock Common Stock (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	198	377

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Common Stock Common Stock (Preferred Stock Issuance) (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Common Stock (Preferred Stock) [Abstract]
Depositary shares issued	6,000,000
Preferred stock, shares issued	6,000	6,000
Preferred stock, par value	$ 1.00	$ 1.00
Preferred Stock, Liquidation Preference, Value	$ 150.0
Preferred Stock, Liquidation Preference Per Share	$ 25.00

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Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Accumulated other comprehensive income		$ 134,424	$ 48,789	$ 134,424	$ 48,789	$ 32,470	$ 62,093
Other Comprehensive Income Before Reclassifications				163,014	(20,437)
Reclassified from Accumulated Oher Comprehensive Income				1,428	(1,021)
Other Comprehensive Income (Loss), before Tax				164,442	(21,458)
Other Comprehensive Income (Loss), Tax				(62,488)	8,154
Other comprehensive income (loss), net of tax		31,495	(42,928)	101,954	(13,304)
Reclassification Where Impairment Was Not Previously Recognized				0	0
Unrealized Gain Loss on Securities OTTI [Member]
Accumulated other comprehensive income	[1]	2,918	3,855	2,918	3,855	3,316	3,791
Other Comprehensive Income Before Reclassifications	[1]			(911)	(449)
Reclassified from Accumulated Oher Comprehensive Income	[1]			270	483
Other Comprehensive Income (Loss), before Tax	[1]			(641)	34
Other Comprehensive Income (Loss), Tax	[1]			243	(13)
Other comprehensive income (loss), net of tax	[1]			(398)	21
Reclassification Where Impairment Was Not Previously Recognized	[1]			0	43
Unrealized Gain Loss on Securities Other [Member]
Accumulated other comprehensive income	[1]	151,384	67,130	151,384	67,130	49,750	81,310
Other Comprehensive Income Before Reclassifications	[1]			163,925	(19,988)
Reclassified from Accumulated Oher Comprehensive Income	[1]			0	(2,813)
Other Comprehensive Income (Loss), before Tax	[1]			163,925	(22,801)
Other Comprehensive Income (Loss), Tax	[1]			(62,291)	8,664
Other comprehensive income (loss), net of tax	[1]			101,634	(14,137)
Reclassification Where Impairment Was Not Previously Recognized	[1]			0	(43)
Pension Loss [Member]
Accumulated other comprehensive income	[2]	$ (19,878)	$ (22,196)	(19,878)	(22,196)	$ (20,596)	$ (23,008)
Other Comprehensive Income Before Reclassifications	[2]			0	0
Reclassified from Accumulated Oher Comprehensive Income	[2]			1,158	1,309
Other Comprehensive Income (Loss), before Tax	[2]			1,158	1,309
Other Comprehensive Income (Loss), Tax	[2]			(440)	(497)
Other comprehensive income (loss), net of tax	[2]			718	812
Reclassification Where Impairment Was Not Previously Recognized	[2]			$ 0	$ 0

[1] The pre-tax amounts reclassified from accumulated other comprehensive income are included in "investment securities gains (losses), net" in the consolidated statements of income.

[2] The pre-tax amounts reclassified from accumulated other comprehensive income are included in the computation of net periodic pension cost as "amortization of prior service cost" and "amortization of unrecognized net loss" (see Note 6), for inclusion in the consolidated statements of income.

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Segments (Schedule Of Financial Information By Segment) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($)		Jun. 30, 2015 USD ($)
Segment Reporting Information [Line Items]
Segment Reporting Information, Intersegment Revenue	$ 0	$ 0	$ 0		$ 0
Number of operating segments			3		3
Net interest income	171,829,000	163,657,000	$ 335,604,000		$ 309,795,000
Provision for loan losses	(9,216,000)	(6,757,000)	(18,655,000)		(11,177,000)
Non-interest income	116,570,000	114,235,000	235,594,000		220,809,000
Investment securities gains (losses), net	(744,000)	2,143,000	(1,739,000)	[1]	8,178,000	[1]
Non-interest expense	(177,089,000)	(165,463,000)	(354,562,000)		(329,308,000)
Income before income taxes	101,350,000	107,815,000	196,242,000		198,297,000
Consumer Segment [Member]
Segment Reporting Information [Line Items]
Net interest income	67,221,000	66,516,000	133,791,000		132,180,000
Provision for loan losses	(8,775,000)	(8,572,000)	(17,500,000)		(16,895,000)
Non-interest income	33,040,000	29,751,000	62,936,000		56,363,000
Investment securities gains (losses), net	0	0	0		0
Non-interest expense	(70,560,000)	(67,590,000)	(139,536,000)		(134,282,000)
Income before income taxes	20,926,000	20,105,000	39,691,000		37,366,000
Commercial Segment [Member]
Segment Reporting Information [Line Items]
Net interest income	77,104,000	73,112,000	153,015,000		144,223,000
Provision for loan losses	1,468,000	(201,000)	1,487,000		676,000
Non-interest income	48,289,000	49,618,000	99,408,000		97,199,000
Investment securities gains (losses), net	0	0	0		0
Non-interest expense	(70,779,000)	(65,614,000)	(140,536,000)		(130,384,000)
Income before income taxes	56,082,000	56,915,000	113,374,000		111,714,000
Wealth Segment [Member]
Segment Reporting Information [Line Items]
Net interest income	10,947,000	10,752,000	21,822,000		21,494,000
Provision for loan losses	(9,000)	1,000	(115,000)		8,000
Non-interest income	36,619,000	34,878,000	71,021,000		68,537,000
Investment securities gains (losses), net	0	0	0		0
Non-interest expense	(28,300,000)	(26,980,000)	(56,840,000)		(54,250,000)
Income before income taxes	19,257,000	18,651,000	35,888,000		35,789,000
Segment Totals [Member]
Segment Reporting Information [Line Items]
Net interest income	155,272,000	150,380,000	308,628,000		297,897,000
Provision for loan losses	(7,316,000)	(8,772,000)	(16,128,000)		(16,211,000)
Non-interest income	117,948,000	114,247,000	233,365,000		222,099,000
Investment securities gains (losses), net	0	0	0		0
Non-interest expense	(169,639,000)	(160,184,000)	(336,912,000)		(318,916,000)
Income before income taxes	96,265,000	95,671,000	188,953,000		184,869,000
Other Elimination [Member]
Segment Reporting Information [Line Items]
Net interest income	16,557,000	13,277,000	26,976,000		11,898,000
Provision for loan losses	(1,900,000)	2,015,000	(2,527,000)		5,034,000
Non-interest income	(1,378,000)	(12,000)	2,229,000		(1,290,000)
Investment securities gains (losses), net	(744,000)	2,143,000	(1,739,000)		8,178,000
Non-interest expense	(7,450,000)	(5,279,000)	(17,650,000)		(10,392,000)
Income before income taxes	$ 5,085,000	$ 12,144,000	$ 7,289,000		$ 13,428,000

[1] Available for sale and non-marketable securities

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Derivative Instruments (Narrative) (Details) $ in Millions	Jun. 30, 2016 USD ($)
Real Estate [Member]
Derivative [Line Items]
Derivative loss from industry concentration	$ 16.9
Distribution [Member]
Derivative [Line Items]
Derivative loss from industry concentration	4.0
Retirement communities [Member]
Derivative [Line Items]
Derivative loss from industry concentration	3.6
Swaps with Central Clearing Agency and Dealer Counterparties [Member]
Derivative [Line Items]
Swap Net Liability Position Fair Value	34.4
Investment Securities [Member] | Swaps with Central Clearing Agency and Dealer Counterparties [Member]
Derivative [Line Items]
Value Of Collateral Posted	5.6
Cash [Member] | Swaps with Central Clearing Agency and Dealer Counterparties [Member]
Derivative [Line Items]
Value Of Collateral Posted	$ 35.9

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Derivative Instruments (Schedule Of Notional Amounts Of Derivative Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Notional Amount of Derivatives	$ 1,467,355	$ 1,184,666
Interest Rate Swaps [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,293,615	1,020,310
Interest Rate Caps [Member]
Derivative [Line Items]
Notional Amount of Derivatives	62,969	66,118
Credit Risk Participation Agreements [Member]
Derivative [Line Items]
Notional Amount of Derivatives	64,510	62,456
Foreign Exchange Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	4,705	15,535
Mortgage Loan Commitments [Member]
Derivative [Line Items]
Notional Amount of Derivatives	18,420	8,605
Mortgage Loan Forward Sale Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	3,636	642
Forward TBA Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	$ 19,500	$ 11,000

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Derivative Instruments (Schedule Of Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Other assets	$ 35,255	$ 12,771
Other liabilities	(35,006)	(12,729)
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Other assets	34,405	11,993
Other liabilities	(34,415)	(11,993)
Interest Rate Caps [Member]
Derivatives, Fair Value [Line Items]
Other assets	31	73
Other liabilities	(31)	(73)
Credit Risk Participation Agreements [Member]
Derivatives, Fair Value [Line Items]
Other assets	1	1
Other liabilities	(289)	(195)
Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Other assets	24	437
Other liabilities	(9)	(430)
Mortgage Loan Commitments [Member]
Derivatives, Fair Value [Line Items]
Other assets	790	263
Other liabilities	0	0
Mortgage Loan Forward Sale Contracts [Member]
Derivatives, Fair Value [Line Items]
Other assets	4	0
Other liabilities	(4)	0
Forward TBA Contracts [Member]
Derivatives, Fair Value [Line Items]
Other assets	0	4
Other liabilities	$ (258)	$ (38)

XML

Derivative Instruments (Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	$ 426	$ 2,794	$ 2,746	$ 3,911
Other Non-Interest Income [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	769	1,627	2,995	2,810
Other Non-Interest Income [Member] | Credit Risk Participation Agreements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	(23)	75	(58)	48
Other Non-Interest Income [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	57	761	8	322
Loans Fees And Sales [Member] | Mortgage Loan Commitments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	19	(63)	527	345
Loans Fees And Sales [Member] | Mortgage Loan Forward Sale Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	1	4	0	1
Loans Fees And Sales [Member] | Forward TBA Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	$ (397)	$ 390	$ (726)	$ 385

XML

Derivative Instruments Derivative Instruments (Balance Sheet Offsetting) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivative Asset, Amount Offset by Liabiilty	$ 0	$ 0
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	35,255	12,771
Derivative Assets	35,255	12,771
Derivative Liability, Amount Offset by Asset	0	0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	35,006	12,729
Derivative Liabilities	35,006	12,729
Derivative Subject to Master Netting Agreement [Member]
Derivative Asset, Fair Value, Gross Asset	34,437	12,071
Derivative Asset, Amount Offset by Liabiilty	0	0
Derivative Asset, Net Amount Presented in the Balance Sheet	34,437	12,071
Derivative Asset, Not Offset, Policy Election Deduction	(31)	(94)
derivatve asset, fair value of collateral	0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	34,406	11,977
Derivative Liability, Fair Value, Gross Liability	34,993	12,299
Derivative Liability, Amount Offset by Asset	0	0
Derivative Liability, Net Amount Presented in the Balance Sheet	34,993	12,299
Derivative Liability, Not Offset, Policy Election Deduction	(31)	(94)
Derivative Liability, Fair Value of Collateral	(33,218)	(10,927)
Derivative Liability, Fair Value, Amount Offset Against Collateral	1,744	1,278
Derivative Not Subject to Master Netting Agreement [Member]
Derivative Asset, Fair Value, Gross Asset	818	700
Derivative Asset, Amount Offset by Liabiilty	0	0
Derivative Asset, Not Subject to Master Netting Arrangement	818	700
Derivative Liability, Fair Value, Gross Liability	13	430
Derivative Liability, Amount Offset by Asset	0	0
Derivative Liability, Not Subject to Master Netting Arrangement	$ 13	$ 430

XML

Resale and Repurchase Agreements Resale and Repurchase Agreements (Narrative) (Details) - Collateral Swap [Member] - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Balance Sheet Offsetting [Line Items]
Collateral Swap Agreements	$ 550.0	$ 550.0
Collateral Already Posted, Aggregate Fair Value	577.6
Collateral Accepted, Aggregate Fair Value	$ 570.2

XML

Resale and Repurchase Agreements Resale and Repurchase Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Balance Sheet Offsetting [Line Items]
Securities purchased under agreements to resell	$ 825,000	$ 875,000
Resale agreement [Member]
Balance Sheet Offsetting [Line Items]
Securities Purchased under Agreements to Resell, Gross	1,375,000	1,425,000
Securities Purchased under Agreements to Resell, Liability	(550,000)	(550,000)
Securities purchased under agreements to resell	825,000	875,000
Securities Purchased under Agreements to Resell, Not Subject to Master Netting Arrangement	0	0
Securities Purchased under Agreements to Resell, Collateral, Obligation to Return Securities	(825,000)	(875,000)
Securities Purchased under Agreements to Resell, Amount Offset Against Collateral	0	0
Repurchase agreement [Member]
Balance Sheet Offsetting [Line Items]
Securities Sold under Agreements to Repurchase, Gross	2,150,462	1,956,582
Securities Sold under Agreements to Repurchase, Asset	(550,000)	(550,000)
Securities Sold under Agreements to Repurchase	1,600,462	1,406,582
Securities Sold under Agreements to Repurchase, Not Subject to Master Netting Arrangement	0	0
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	(1,600,462)	(1,406,582)
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral	$ 0	$ 0

XML

Resale and Repurchase Agreements Remaining Contractual Maturities of Repurchase Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
U.S. Government And Federal Agency Obligations [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	$ 235,265	$ 210,346
U.S. Government And Federal Agency Obligations [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
U.S. Government And Federal Agency Obligations [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	300,000	300,000
U.S. Government And Federal Agency Obligations [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	535,265	510,346
Government-Sponsored Enterprise Obligations [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	257,607	356,970
Government-Sponsored Enterprise Obligations [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Government-Sponsored Enterprise Obligations [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	24,096
Government-Sponsored Enterprise Obligations [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	257,607	381,066
Agency Mortgage-Backed Securities [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	377,702	579,974
Agency Mortgage-Backed Securities [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	2,337	2,292
Agency Mortgage-Backed Securities [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	250,000	225,904
Agency Mortgage-Backed Securities [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	630,039	808,170
Asset-Backed Securities [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	642,551	212,000
Asset-Backed Securities [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	85,000	45,000
Asset-Backed Securities [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	0	0
Asset-Backed Securities [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	727,551	257,000
Repurchase Agreements [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	1,513,125	1,359,290
Repurchase Agreements [Member] | Maturity up to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	87,337	47,292
Repurchase Agreements [Member] | Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	550,000	550,000
Repurchase Agreements [Member] | Total Repurchase Agreements [Member] [Domain]
Assets Sold under Agreements to Repurchase [Line Items]
Assets Sold under Agreements to Repurchase, Repurchase Liability	$ 2,150,462	$ 1,956,582

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Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 2.9	$ 2.5	$ 6.3	$ 5.3
Nonvested Stock Award [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			4 years
Nonvested Stock Award [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			7 years
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			4 years
Contractual terms of stock options granted (in years)			10 years

XML

Stock-Based Compensation (Summary Of The Status Of Nonvested Share Awards) (Details)	6 Months Ended
	Jun. 30, 2016 $ / shares shares
Nonvested Share Awards [Roll Forward]
Nonvested, Shares, Beginning Balance | shares	1,384,417
Granted, Shares | shares	209,347
Vested, Shares | shares	(234,655)
Forfeited, Shares | shares	(23,840)
Nonvested, Shares, Ending Balance | shares	1,335,269
Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 34.38
Granted , Weighted Average Grant Date Fair Value | $ / shares	41.81
Vested , Weighted Average Grant Date Fair Value | $ / shares	30.45
Forfeited , Weighted Average Grant Date Fair Value | $ / shares	36.36
Nonvested , Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 36.20

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Stock-Based Compensation Stock-Based Compensation (Current Year Per Share Average Fair Value and Valuation Model Assumptions) (Details)	6 Months Ended
	Jun. 30, 2016 $ / shares
Current Year Per Share Average Fair Value and Valuation Model Assumptions [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 7.49
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	2.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	21.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	7 years 2 months

XML

Stock-Based Compensation (Summary Of SAR Activity) (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2016 USD ($) $ / shares shares
Stock Appreciation Rights [Roll Forward]
Outstanding, Shares, Beginning Balance | shares	1,588,457
Granted, Shares | shares	251,982
Forfeited, Shares | shares	(11,714)
Expired, Shares | shares	(859)
Exercised, Shares | shares	(347,100)
Outstanding, Shares, Ending Balance | shares	1,480,766
Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 33.74
Granted, Weighted Average Exercise Price | $ / shares	41.35
Forfeited, Weighted Average Exercise Price | $ / shares	37.55
Expired, Weighted Average Exercise Price | $ / shares	37.59
Exercised, Weighted Average Exercise Price | $ / shares	31.48
Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 35.53
Outstanding, Weighted Average Remaining Contractual Term (in years)	5 years 6 months
Outstanding, Aggregate Intrinsic Value, Ending Balance | $	$ 18,313

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Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Private equity investments	$ 62,813	$ 63,032
Fair Value Hierarchy, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Auction Rate Securities Available For Sale	17,700
Private equity investments	$ 62,813	$ 63,032

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Fair Value Measurements (Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgages Held-for-sale, Fair Value Disclosure	$ 7,094,000	$ 4,981,000
U.S. government and federal agency obligations	720,919,000	727,076,000
Government-sponsored enterprise obligations	562,177,000	793,023,000
State and municipal obligations	1,833,861,000	1,741,957,000
Agency mortgage-backed securities	2,589,915,000	2,618,281,000
Non-agency mortgage-backed securities	831,616,000	879,963,000
Other asset-backed securities	2,298,725,000	2,644,381,000
Other debt securities	339,264,000	331,320,000
Equity securities	44,869,000	41,003,000
Trading securities	30,512,000	11,890,000
Private equity investments	62,813,000	63,032,000
Derivative Assets	35,255,000	12,771,000
Assets held in trust for deferred compensation plan	9,701,000	9,278,000
Total Assets	9,366,721,000	9,878,956,000
Derivative Liabilities	35,006,000	12,729,000
Liabilities held in trust for deferred compensation plan	9,701,000	9,278,000
Total Liabilities	44,707,000	22,007,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgages Held-for-sale, Fair Value Disclosure	0	0
U.S. government and federal agency obligations	720,919,000	727,076,000
Government-sponsored enterprise obligations	0	0
State and municipal obligations	0	0
Agency mortgage-backed securities	0	0
Non-agency mortgage-backed securities	0	0
Other asset-backed securities	0	0
Other debt securities	0	0
Equity securities	22,047,000	20,263,000
Trading securities	0	0
Private equity investments	0	0
Derivative Assets	0	0
Assets held in trust for deferred compensation plan	9,701,000	9,278,000
Total Assets	752,667,000	756,617,000
Derivative Liabilities	0	0
Liabilities held in trust for deferred compensation plan	9,701,000	9,278,000
Total Liabilities	9,701,000	9,278,000
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgages Held-for-sale, Fair Value Disclosure	7,094,000	4,981,000
U.S. government and federal agency obligations	0	0
Government-sponsored enterprise obligations	562,177,000	793,023,000
State and municipal obligations	1,816,182,000	1,724,762,000
Agency mortgage-backed securities	2,589,915,000	2,618,281,000
Non-agency mortgage-backed securities	831,616,000	879,963,000
Other asset-backed securities	2,298,725,000	2,644,381,000
Other debt securities	339,264,000	331,320,000
Equity securities	22,822,000	20,740,000
Trading securities	30,512,000	11,890,000
Private equity investments	0	0
Derivative Assets	34,464,000	12,507,000
Assets held in trust for deferred compensation plan	0	0
Total Assets	8,532,771,000	9,041,848,000
Derivative Liabilities	34,717,000	12,534,000
Liabilities held in trust for deferred compensation plan	0	0
Total Liabilities	34,717,000	12,534,000
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgages Held-for-sale, Fair Value Disclosure	0	0
U.S. government and federal agency obligations	0	0
Government-sponsored enterprise obligations	0	0
State and municipal obligations	17,679,000	17,195,000
Agency mortgage-backed securities	0	0
Non-agency mortgage-backed securities	0	0
Other asset-backed securities	0	0
Other debt securities	0	0
Equity securities	0	0
Trading securities	0	0
Private equity investments	62,813,000	63,032,000
Derivative Assets	791,000	264,000
Assets held in trust for deferred compensation plan	0	0
Total Assets	81,283,000	80,491,000
Derivative Liabilities	289,000	195,000
Liabilities held in trust for deferred compensation plan	0	0
Total Liabilities	$ 289,000	$ 195,000

XML

Fair Value Measurements (Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 85,147	$ 154,591	$ 80,296	$ 152,501
Total gains or losses (realized /unrealized), included in earnings	(2,814)	887	(3,255)	4,568
Total gains or losses (realized /unrealized), included in other comprehensive income	401	(352)	502	(354)
Investment securities called	0	0	(100)	(2,000)
Discount accretion	69	21	82	151
Purchase of private equity securities	575	1,437	5,841	1,653
Sales And Repayments Of Private Equity Securities	(2,398)	(4,800)	(2,398)	(4,800)
Capitalized interest/dividends	14	52	62	117
Sale Of Risk Participation Agreement	0	0	(36)	0
Ending balance	80,994	151,836	80,994	151,836
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end	(2,043)	1,295	(2,992)	4,568
State And Municipal Obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	17,209	93,271	17,195	95,143
Total gains or losses (realized /unrealized), included in earnings	0	0	0	0
Total gains or losses (realized /unrealized), included in other comprehensive income	401	(352)	502	(354)
Investment securities called	0	0	(100)	(2,000)
Discount accretion	69	21	82	151
Purchase of private equity securities	0	0	0	0
Sales And Repayments Of Private Equity Securities	0	0	0	0
Capitalized interest/dividends	0	0	0	0
Sale Of Risk Participation Agreement	0	0	0	0
Ending balance	17,679	92,940	17,679	92,940
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end	0	0	0	0
Private Equity Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	67,432	61,162	63,032	57,581
Total gains or losses (realized /unrealized), included in earnings	(2,810)	875	(3,724)	4,175
Total gains or losses (realized /unrealized), included in other comprehensive income	0	0	0	0
Investment securities called	0	0	0	0
Discount accretion	0	0	0	0
Purchase of private equity securities	575	1,437	5,841	1,653
Sales And Repayments Of Private Equity Securities	(2,398)	(4,800)	(2,398)	(4,800)
Capitalized interest/dividends	14	52	62	117
Sale Of Risk Participation Agreement	0	0	0	0
Ending balance	62,813	58,726	62,813	58,726
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end	(2,810)	875	(3,724)	4,175
Derivative Level Three Unobservable Inputs [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	506	158	69	(223)
Total gains or losses (realized /unrealized), included in earnings	(4)	12	469	393
Total gains or losses (realized /unrealized), included in other comprehensive income	0	0	0	0
Investment securities called	0	0	0	0
Discount accretion	0	0	0	0
Purchase of private equity securities	0	0	0	0
Sales And Repayments Of Private Equity Securities	0	0	0	0
Capitalized interest/dividends	0	0	0	0
Sale Of Risk Participation Agreement	0	0	(36)	0
Ending balance	502	170	502	170
Total gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held at period end	$ 767	$ 420	$ 732	$ 393

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Fair Value Measurements (Summary Of Gains And Losses On Level 3 Assets And Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items]
Total gains or losses included in earnings	$ (2,814)	$ 887	$ (3,255)	$ 4,568
Change in unrealized gains or losses relating to assets still held	(2,043)	1,295	(2,992)	4,568
Loans Fees And Sales [Member]
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items]
Total gains or losses included in earnings	19	(63)	527	345
Change in unrealized gains or losses relating to assets still held	790	345	790	345
Other Non-Interest Income [Member]
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items]
Total gains or losses included in earnings	(23)	75	(58)	48
Change in unrealized gains or losses relating to assets still held	(23)	75	(58)	48
Investment Securities Gains (Losses), Net [Member]
Gains and Losses included in earnings for Level 3 assets & liabilities [Line Items]
Total gains or losses included in earnings	(2,810)	875	(3,724)	4,175
Change in unrealized gains or losses relating to assets still held	$ (2,810)	$ 875	$ (3,724)	$ 4,175

XML

Fair Value Measurements (Summary Of Quantitative Information About Level 3 Fair Value Measurements) (Details)	6 Months Ended
	Jun. 30, 2016 Rate
Auction Rate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique, Discounted cash flow	Discounted cash flow
Unobservable Input, Estimated market recovery period	5 years
Auction Rate Securities [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable Input, Estimated market rate	2.30%
Auction Rate Securities [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unobservable Input, Estimated market rate	3.40%
Private Equity Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique, Market comparable companies	Market comparable companies
Private Equity Investments [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	4.0
Private Equity Investments [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	5.5
Mortgage Loan Commitments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique, Discounted cash flow	Discounted cash flow
Weighted Average, Probability of Funding	78.90%
Weighted Average, Embedded Servicing Value	1.00%
Mortgage Loan Commitments [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Probability of Funding	59.40%
Embedded Servicing Value	0.90%
Mortgage Loan Commitments [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Probability of Funding	95.60%
Embedded Servicing Value	1.00%

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Fair Value Measurements (Schedule of Fair Value Disclosures Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Collateral Dependent Impaired Loans	$ 5,001	$ 3,897
Mortgage servicing rights	2,191	1,242
Foreclosed assets	28	608
Long-lived assets	1,871	2,425
Fair Value, Inputs, Level 1 [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Collateral Dependent Impaired Loans	0	0
Mortgage servicing rights	0	0
Foreclosed assets	0	0
Long-lived assets	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Collateral Dependent Impaired Loans	0	0
Mortgage servicing rights	0	0
Foreclosed assets	0	0
Long-lived assets	0	0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Collateral Dependent Impaired Loans	5,001	3,897
Mortgage servicing rights	2,191	1,242
Foreclosed assets	28	608
Long-lived assets	1,871	2,425
Gain (Loss) on Investments [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Loans Nonrecurring Basis Gains Losses	(1,491)	(1,340)
Mortgage Servicing Rights Nonrecurring Basis Gains Losses	(2)	53
Foreclosed Assets Nonrecurring Basis Gains Losses	(10)	(162)
Long Lived Assets Nonrecurring Basis Gains Losses	$ (956)	$ (1,667)

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Fair Value Of Financial Instruments (Schedule Of Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of Personal Real Estate Loans Held for Sale	$ 7,100
Available for sale securities	9,221,346	$ 9,777,004
Trading securities	30,512	11,890
Non-marketable	111,931	112,786
Securities purchased under agreements to resell	825,000	875,000
Cash and due from banks	428,300	464,411
Derivative Assets	35,255	12,771
Assets held in trust for deferred compensation plan	9,701	9,278
Non-interest bearing deposits	6,906,265	7,146,398
Savings, interest checking and money market deposits	10,978,734	10,834,746
Derivative Liabilities	35,006	12,729
Liabilities held in trust for deferred compensation plan	9,701	9,278
Fair Value Hierarchy, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	0	0
Derivative Assets	0	0
Assets held in trust for deferred compensation plan	9,701	9,278
Derivative Liabilities	0	0
Liabilities held in trust for deferred compensation plan	9,701	9,278
Fair Value Hierarchy, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	30,512	11,890
Derivative Assets	34,464	12,507
Assets held in trust for deferred compensation plan	0	0
Derivative Liabilities	34,717	12,534
Liabilities held in trust for deferred compensation plan	0	0
Fair Value Hierarchy, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	0	0
Derivative Assets	791	264
Assets held in trust for deferred compensation plan	0	0
Derivative Liabilities	289	195
Liabilities held in trust for deferred compensation plan	0	0
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale securities	742,966	747,339
Federal funds sold	13,725	14,505
Interest earning deposits with banks	183,223	23,803
Cash and due from banks	428,300	464,411
Assets held in trust for deferred compensation plan	9,701	9,278
Non-interest bearing deposits	6,906,265	7,146,398
Savings, interest checking and money market deposits	10,978,734	10,834,746
Federal Funds Purchased	31,810	556,970
Liabilities held in trust for deferred compensation plan	9,701	9,278
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of Personal Real Estate Loans Held for Sale	33,254	7,607
Available for sale securities	8,460,701	9,012,470
Trading securities	30,512	11,890
Derivative Assets	34,464	12,507
Derivative Liabilities	34,717	12,534
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale securities	17,679	17,195
Non-marketable	111,931	112,786
Securities purchased under agreements to resell	825,000	875,000
Derivative Assets	791	264
Time open and certificates of deposits	2,265,048	1,997,709
Securities Sold under Agreements to Repurchase	1,600,462	1,406,582
Other borrowings	103,878	103,818
Derivative Liabilities	289	195
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	4,840,248	4,397,893
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Construction And Land [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	819,896	624,070
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	2,399,271	2,355,544
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Personal [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,927,340	1,915,953
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,939,486	1,924,365
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Revolving Home Equity [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	408,301	432,981
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer Credit Card [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	753,166	779,744
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Overdrafts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	4,180	6,142
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale securities	742,966	747,339
Federal funds sold	13,725	14,505
Interest earning deposits with banks	183,223	23,803
Cash and due from banks	428,300	464,411
Assets held in trust for deferred compensation plan	9,701	9,278
Non-interest bearing deposits	6,906,265	7,146,398
Savings, interest checking and money market deposits	10,978,734	10,834,746
Federal Funds Purchased	31,810	556,970
Liabilities held in trust for deferred compensation plan	9,701	9,278
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of Personal Real Estate Loans Held for Sale	33,337	7,607
Available for sale securities	8,460,701	9,012,470
Trading securities	30,512	11,890
Derivative Assets	34,464	12,507
Derivative Liabilities	34,717	12,534
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale securities	17,679	17,195
Non-marketable	111,931	112,786
Securities purchased under agreements to resell	833,366	879,546
Derivative Assets	791	264
Time open and certificates of deposits	2,264,742	1,993,521
Securities Sold under Agreements to Repurchase	1,600,553	1,406,670
Other borrowings	107,967	108,542
Derivative Liabilities	289	195
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	4,902,110	4,421,237
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Construction And Land [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	829,857	633,083
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	2,448,134	2,387,101
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Real Estate - Personal [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,976,674	1,940,863
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,943,943	1,916,747
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Revolving Home Equity [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	410,995	434,607
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Consumer Credit Card [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	769,991	793,428
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value Hierarchy, Level 3 [Member] | Overdrafts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	$ 4,180	$ 6,142