Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

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 March 31, 2014, 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:
Obligations of U. S. government sponsored-enterprises and agencies	$	15,167	$	118,596	$	—	$	133,763
Obligations of states and political subdivisions		35,579		1,016,812		—		1,052,391
Corporate bonds		—		96,422		—		96,422
Residential mortgage-backed securities		38,253		704,079		—		742,332
Commercial mortgage-backed securities		—		133,093		—		133,093
Other securities		5,016		—		—		5,016
Total	$	94,015	$	2,069,002	$	—	$	2,163,017

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 (dollars in thousands):

	Three Months Ended March 31,
	2014		2013
Carrying value of other real estate owned prior to re-measurement	$	—	$	1,827
Write-downs included in gain (loss) on sale of other real estate owned		—		(304	)
Fair value	$	—	$	1,523

Schedule of Estimated Fair Values and Carrying Values of All Financial Instruments

The estimated fair values and carrying values of all financial instruments under current authoritative guidance at March 31, 2014 and December 31, 2013, were as follows (in thousands):

	March 31,				December 31,
	2014				2013
	Carrying		Estimated		Carrying		Estimated		Fair Value
	Value		Fair Value		Value		Fair Value		Hierarchy
Cash and due from banks	$	160,469	$	160,469	$	183,084	$	183,084	Level 1
Federal funds sold		3,620		3,620		3,430		3,430	Level 1
Interest-bearing deposits in banks		3,772		3,772		25,498		25,498	Level 1
Interest-bearing time deposits in banks		30,026		30,137		31,917		32,059	Level 2
Available-for-sale securities		2,163,017		2,163,017		2,057,723		2,057,723	Levels 1 and 2
Held-to-maturity securities		582		591		684		694	Level 2
Loans		2,664,024		2,679,739		2,655,548		2,667,743	Level 3
Accrued interest receivable		22,455		22,455		26,865		26,865	Level 2
Deposits with stated maturities		681,158		683,245		686,626		688,876	Level 2
Deposits with no stated maturities		3,553,123		3,553,123		3,448,448		3,448,448	Level 1
Short term borrowings		383,220		383,220		463,888		463,888	Level 2
Accrued interest payable		280		280		299		299	Level 2