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FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2012

Assets and Liabilities Measured at Fair Value on a Recurring Basis

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

	December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	1,401,996	$	-	$	1,401,996
Government agency issued residential mortgage-back securities		-		366,875		-		366,875
Government agency issued commercial mortgage-back securities		-		91,445		-		91,445
Obligations of states and political subdivisions		-		565,873		-		565,873
Collateralized debt obligations		-		-		-		-
Other		744		7,099		-		7,843
Mortgage servicing rights		-		-		37,882		37,882
Derivative instruments		-		-		55,684		55,684
Total	$	744	$	2,433,288	$	93,566	$	2,527,598
Liabilities:
Derivative instruments	$	-	$	-	$	52,773	$	52,773

	December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	1,501,243	$	-	$	1,501,243
Government agency issued residential mortgage-back securities		-		404,610		-		404,610
Government agency issued commercial mortgage-back securities		-		34,599		-		34,599
Obligations of states and political subdivisions		-		563,520		-		563,520
Collateralized debt obligations		-		-		-		-
Other		561		8,985		-		9,546
Mortgage servicing rights		-		-		30,174		30,174
Derivative instruments		-		-		55,749		55,749
Total	$	561	$	2,512,957	$	85,923	$	2,599,441

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 years ended December 31, 2012 and 2011:

	Mortgage					Available-
	Servicing			Derivative		for-sale
	Rights			Instruments		Securities
	(In thousands)
Balance at December 31, 2011	$	30,174		$	342	$	-
Total net gains for the year included in:
Net income		7,708			2,569		-
Other comprehensive income		-			-		-
Purchases, sales, issuances and settlements, net		-			-		-
Transfers in and/or out of Level 3		-			-		-
Balance at December 31, 2012	$	37,882		$	2,911	$	-
Net unrealized (losses) gains included in net income for the year relating to assets and liabilities held at December 31, 2012	$	(3,163	)	$	2,569	$	-

	Mortgage						Available-
	Servicing			Derivative			for-sale
	Rights			Instruments			Securities
	(In thousands)
Balance at December 31, 2010	$	38,642		$	2,685		$	-
Total net losses for the year included in:
Net loss		(8,468	)		(2,343	)		-
Other comprehensive income		-			-			-
Purchases, sales, issuances and settlements, net		-			-			-
Transfers in and/or out of Level 3		-			-			-
Balance at December 31, 2011	$	30,174		$	342		$	-
Net unrealized losses included in net income for the year relating to assets and liabilities held at December 31, 2011	$	(13,966	)	$	(2,343	)	$	-

Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis

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

	December 31, 2012
									Total
	Level 1		Level 2		Level 3		Total		Gains (Losses)
Assets:	(In thousands)
Loans held for sale	$	-	$	129,138	$	-	$	129,138	$	-
Impaired loans		-		-		156,728		156,728		(10,541	)
Other real estate owned		-		-		103,248		103,248		(31,055	)

	December 31, 2011
									Total
	Level 1		Level 2		Level 3		Total		Gains (Losses)
Assets:	(In thousands)
Loans held for sale	$	-	$	83,458	$	-	$	83,458	$	-
Impaired loans		-		-		234,923		234,923		(39,708	)
Other real estate owned		-		-		173,805		173,805		(21,641	)

Carrying and Fair Value Information

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

	2012						2011
	Carrying			Fair			Carrying			Fair
	Value			Value			Value			Value
Assets:	(In thousands)
Cash and due from banks	$	223,814		$	223,814		$	195,681		$	195,681
Interest bearing deposits with other banks		979,800			979,800			303,663			303,663
Available-for-sale and trading securities		2,434,032			2,434,032			2,513,518			2,513,518
Net loans and leases		8,472,523			8,546,810			8,675,193			8,730,819
Loans held for sale		129,138			129,230			83,458			83,503

Liabilities:
Noninterest bearing deposits		2,545,169			2,545,169			2,269,799			2,269,799
Savings and interest bearing deposits		5,945,281			5,945,281			5,698,527			5,698,527
Other time deposits		2,597,696			2,634,099			2,986,863			3,029,147
Federal funds purchased and securities sold under agreement to repurchase and other short-term borrowings		414,611			414,399			375,433			375,285
Long-term debt and other borrowings		193,867			205,072			193,880			200,166

Derivative instruments:
Forward commitments to sell fixed rate mortgage loans		(536	)		(536	)		(1,057	)		(1,057	)
Commitments to fund fixed rate mortgage loans		4,081			4,081			2,140			2,140
Interest rate swap position to receive		51,517			51,517			53,608			53,608
Interest rate swap position to pay		(52,154	)		(52,154	)		(54,349	)		(54,349	)

- 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 assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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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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