Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Balances Of Assets And Liabilities Measured At Fair Value On Recurring Basis


	Level 1		Level 2		Level 3		Total
September 30, 2012
Assets measured at fair value:
Available for sale debt securities:
U.S. Treasury and other U.S. government agencies and corporations	$	—	$	327,305	$	—	$	327,305
Residential mortgage-backed securities:
Agency mortgage-backed securities		—		297,181		—		297,181
Agency collateralized mortgage obligations		—		410,875		—		410,875
Non-agency collateralized mortgage obligations		—		26		2,965		2,991
States of the U.S. and political subdivisions		—		28,554		—		28,554
Collateralized debt obligations		—		—		20,700		20,700
Other debt securities		—		16,677		6,583		23,260

		—		1,080,618		30,248		1,110,866

Available for sale equity securities:
Financial services industry		346		1,093		490		1,929
Insurance services industry		44		—		—		44

		390		1,093		490		1,973

		390		1,081,711		30,738		1,112,839
Derivative financial instruments		—		62,223		—		62,223

	$	390	$	1,143,934	$	30,738	$	1,175,062

Liabilities measured at fair value:
Derivative financial instruments		—	$	62,230		—	$	62,230

		—	$	62,230		—	$	62,230


	Level 1		Level 2		Level 3		Total
December 31, 2011
Assets measured at fair value:
Available for sale debt securities:
U.S. Treasury and other U.S. government agencies and corporations	$	—	$	231,829	$	—	$	231,829
Residential mortgage-backed securities:
Agency mortgage-backed securities		—		171,611		—		171,611
Agency collateralized mortgage obligations		—		183,729		—		183,729
Non-agency collateralized mortgage obligations		—		30		—		30
States of the U.S. and political subdivisions		—		40,350		—		40,350
Collateralized debt obligations		—		—		5,998		5,998
Other debt securities		—		—		5,197		5,197

		—		627,549		11,195		638,744

Available for sale equity securities:
Financial services industry		378		1,004		408		1,790
Insurance services industry		37		—		—		37

		415		1,004		408		1,827

		415		628,553		11,603		640,571
Derivative financial instruments		—		52,857		—		52,857

	$	415	$	681,410	$	11,603	$	693,428

Liabilities measured at fair value:
Derivative financial instruments		—	$	52,904		—	$	52,904

		—	$	52,904		—	$	52,904

Additional Information About Assets Measured At Fair Value On Recurring Basis


	Pooled Trust Preferred Collateralized Debt Obligations			Other Debt Securities			Equity Securities		Residential Non-Agency Collateralized Mortgage Obligations			Total
Nine Months Ended September 30, 2012
Balance at beginning of period	$	5,998		$	5,197		$	408	$	—		$	11,603
Total gains (losses) – realized/unrealized:
Included in earnings		—			—			—		—			—
Included in other comprehensive income		(338	)		425			82		40			209
Accretion included in earnings		1,973			7			—		17			1,997
Purchases, issuances, sales and settlements:
Purchases in Parkvale acquisition		16,569			954			—		4,230			21,753
Issuances		35			—			—		—			35
Sales/redemptions		(2,542	)		—			—		—			(2,542	)
Settlements		(995	)		—			—		(1,322	)		(2,317	)
Transfers from Level 3		—			—			—		—			—
Transfers into Level 3		—			—			—		—			—

Balance at end of period	$	20,700		$	6,583		$	490	$	2,965		$	30,738

Year Ended December 31, 2011
Balance at beginning of period	$	5,974		$	11,245		$	375	$	—		$	17,594
Total gains (losses) – realized/unrealized:
Included in earnings		(37	)		(48	)		—		—			(85	)
Included in other comprehensive income		61			94			33		—			188
Accretion included in earnings		—			—			—		—			—
Purchases, issuances, sales and settlements:
Purchases		—			—			—		—			—
Issuances		—			—			—		—			—
Sales/redemptions		—			(6,094	)		—		—			(6,094	)
Settlements		—			—			—		—			—
Transfers from Level 3		—			—			—		—			—
Transfers into Level 3		—			—			—		—			—

Balance at end of period	$	5,998		$	5,197		$	408	$	—		$	11,603

Hierarchy Level And Fair Value Of Related Assets Or Portfolios


	Level 1		Level 2		Level 3		Total
September 30, 2012
Impaired loans	$	—	$	2,521	$	11,266	$	13,787
Other real estate owned		—		5,582		11,668		17,250

December 31, 2011
Impaired loans		—		5,034		12,293		17,327
Other real estate owned		—		3,118		16,261		19,379

Estimated Fair Values Of Corporation's Financial Instruments


					Fair Value Measurements
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
September 30, 2012
Financial Assets
Cash and cash equivalents	$	367,594	$	367,594	$	367,594	$	—	$	—
Securities available for sale		1,112,839		1,112,839		390		1,081,711		30,738
Securities held to maturity		1,151,743		1,196,359		—		1,178,623		17,736
Net loans, including loans held for sale		7,898,311		7,811,271		—		—		7,811,271
Bank owned life insurance		239,615		251,170		251,170		—		—
Accrued interest receivable		31,889		31,889		31,889		—		—

Financial Liabilities
Deposits		9,125,823		9,168,838		6,500,005		2,668,833		—
Short-term borrowings		1,019,411		1,019,411		1,019,411		—		—
Long-term debt		90,501		93,507		—		—		93,507
Junior subordinated debt		204,006		172,353		—		—		172,353
Accrued interest payable		9,473		9,473		9,473		—		—

December 31, 2011
Financial Assets
Cash and cash equivalents	$	208,953	$	208,953
Securities available for sale		640,571		640,571
Securities held to maturity		917,212		952,033
Net loans, including loans held for sale		6,770,280		6,829,830
Bank owned life insurance		208,927		214,921
Accrued interest receivable		25,930		25,930

Financial Liabilities
Deposits		7,289,768		7,315,948
Short-term borrowings		851,294		851,294
Long-term debt		88,016		90,632
Junior subordinated debt		203,967		167,608
Accrued interest payable		6,305		6,305

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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- Definition

The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

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