Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2012

Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands):

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Available for sale investment securities:
U. S. Treasury securities	$	6,090	$	—	$	—	$	6,090
Obligations of U. S. government sponsored-enterprises and agencies		—		223,480		—		223,480
Obligations of state and political subdivisions		16,725		826,965		—		843,690
Corporate bonds		—		119,009		—		119,009
Mortgage-backed securities		—		622,584		—		622,584
Other securities		4,182		—		—		4,182
Total	$	26,997	$	1,792,038	$	—	$	1,819,035

Other Real Estate Owned

The following table presents other real estate owned that were re-measured subsequent to their initial transfer to other real estate owned (in thousands):

	Year Ended December 31,
	2012			2011
Carrying value of other real estate owned prior to remeasurement	$	5,375		$	7,064
Write-downs included in gain (loss) on sale of other real estate owned		(704	)		(1,522	)
Fair value	$	4,671		$	5,542

Schedule of Estimated Fair Values and Carrying Values of All Financial Instruments Under Current Authoritative Guidance

The estimated fair values and carrying values of all financial instruments at December 31, 2012 and 2011, were as follows (in thousands):

	2012				2011
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Cash and due from banks	$	207,018	$	207,018	$	146,239	$	146,239
Federal funds sold		14,045		14,045		—		—
Interest-bearing deposits in banks		139,676		139,676		104,597		104,597
Interest-bearing time deposits in banks		49,005		49,288		61,175		61,175
Available for sale securities		1,819,035		1,819,035		1,841,389		1,841,389
Held to maturity securities		1,061		1,080		3,609		3,655
Loans		2,053,784		2,081,091		1,752,229		1,757,732
Accrued interest receivable		23,122		23,122		22,446		22,446
Deposits with stated maturities		637,040		638,227		752,298		754,186
Deposits with no stated maturities		2,995,544		2,995,544		2,582,500		2,582,500
Short-term borrowings		259,697		259,697		207,756		207,756
Accrued interest payable		287		287		594		594