FAIR VALUE DISCLOSURES (Tables)

3 Months Ended

Mar. 31, 2012

FAIR VALUE DISCLOSURES [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis

The following tables present the balances of the assets and liabilities measured at fair value on a recurring basis as of March 31, 2012 and 2011:

	March 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	1,578,441	$	-	$	1,578,441
Government agency issued residential mortgage-backed securities		-		385,146		-		385,146
Government agency issued commercial mortgage-backed securities		-		31,647		-		31,647
Obligations of states and political subdivisions		-		568,642		-		568,642
Other		665		8,994		-		9,659
Mortgage servicing rights		-		-		35,668		35,668
Derivative instruments		-		-		53,057		53,057
Total	$	665	$	2,572,870	$	88,725	$	2,662,260
Liabilities:
Derivative instruments	$	-	$	-	$	51,208	$	51,208

	March 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	459,763	$	-	$	459,763
Government agency issued residential mortgage-backed securities		-		529,302		-		529,302
Government agency issued commercial mortgage-backed securities		-		30,938		-		30,938
Obligations of states and political subdivisions		-		111,380		-		111,380
Other		638		13,442		-		14,080
Mortgage servicing rights		-		-		42,306		42,306
Derivative instruments		-		-		33,120		33,120
Total	$	638	$	1,144,825	$	75,426	$	1,220,889
Liabilities:
Derivative instruments	$	-	$	-	$	32,766	$	32,766

The following tables present the balances of assets and liabilities measured at fair value on a nonrecurring basis as of March 31, 2012 and 2011:

	March 31, 2012
									Total
	Level 1		Level 2		Level 3		Total		Losses
Assets:	(In thousands)
Loans held for sale	$	-	$	110,294	$	-	$	110,294	$	-
Impaired loans		-		-		211,112		211,112		(25,546	)
Other real estate owned		-		-		167,808		167,808		(26,520	)

	March 31, 2011
									Total
	Level 1		Level 2		Level 3		Total		Losses
Assets:	(In thousands)
Loans held for sale	$	-	$	56,876	$	-	$	56,876	$	-
Impaired loans		-		-		338,821		338,821		(49,419	)
Other real estate owned		-		-		136,412		136,412		(14,738	)

Changes in Level Three Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three-month periods ended March 31, 2012 and 2011:

	Mortgage Servicing Rights		Derivative Instruments		Available- for-sale Securities
	(In thousands)
Balance at December 31, 2011	$	30,174	$	342	$	-
Year to date net gains included in:
Net income		5,494		1,507		-
Other comprehensive income		-		-		-
Purchases, sales, issuances and settlements, net		-		-		-
Transfers in and/or out of Level 3		-		-		-
Balance at March 31, 2012	$	35,668	$	1,849	$	-
Net unrealized gains included in net income for the quarter relating to assets and liabilities held at March 31, 2012	$	3,697	$	1,507	$	-

	Mortgage Servicing Rights		Derivative Instruments			Available- for-sale Securities
	(In thousands)
Balance at December 31, 2010	$	38,642	$	2,685		$	-
Year to date net gains (losses) included in:
Net income (loss)		3,664		(2,331	)		-
Other comprehensive income		-		-			-
Purchases, sales, issuances and settlements, net		-		-			-
Transfers in and/or out of Level 3		-		-			-
Balance at March 31, 2011	$	42,306	$	354		$	-
Net unrealized (losses) gains included in net income for the quarter relating to assets      and liabilities held at March 31, 2011	$	2,540	$	(2,331	)	$	-

Carrying and Fair Value Information

The following table presents carrying and fair value information of financial instruments at March 31, 2012 and December 31, 2011:

	March 31, 2012						December 31, 2011
	Carrying			Fair			Carrying			Fair
	Value			Value			Value			Value
Assets:	(In thousands)
Cash and due from banks	$	184,441		$	184,441		$	195,681		$	195,681
Interest bearing deposits with other banks		665,675			665,675			303,663			303,663
Available-for-sale securities		2,573,535			2,573,535			2,513,518			2,513,518
Net loans and leases		8,556,146			8,605,943			8,675,193			8,730,819
Loans held for sale		110,294			110,323			83,458			83,503
Liabilities:
Noninterest bearing deposits		2,260,012			2,260,012			2,269,799			2,269,799
Savings and interest bearing deposits		5,964,841			5,964,841			5,698,527			5,698,527
Other time deposits		2,857,469			2,901,829			2,986,863			3,029,147
Federal funds purchased and securities sold under agreement to repurchase and other short-term borrowings		402,589			402,121			375,433			375,285
Long-term debt and other borrowings		193,877			205,974			193,880			200,166
Derivative instruments:
Forward commitments to sell fixed rate mortgage loans		(98	)		(98	)		(1,057	)		(1,057	)
Commitments to fund fixed rate mortgage loans		2,710			2,710			2,140			2,140
Interest rate swap position to receive		50,094			50,094			53,608			53,608
Interest rate swap position to pay		(50,857	)		(50,857	)		(54,349	)		(54,349	)