FAIR VALUE DISCLOSURES (Tables)

9 Months Ended

Sep. 30, 2011

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 September 30, 2011 and 2010:

	September 30, 2011
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	1,497,456	$	-	$	1,497,456
Government agency issued residential mortgage-backed securities		-		420,689		-		420,689
Government agency issued commercial mortgage-backed securities		-		34,475		-		34,475
Obligations of states and political subdivisions		-		519,431		-		519,431
Other		528		8,976		-		9,504
Mortgage servicing rights		-		-		29,159		29,159
Derivative instruments		-		-		59,703		59,703
Total	$	528	$	2,481,027	$	88,862	$	2,570,417
Liabilities:
Derivative instruments	$	-	$	-	$	58,916	$	58,916

	September 30, 2010
	Level 1		Level 2		Level 3		Total
Assets:	(In thousands)
Available-for-sale securities:
U.S. Government agencies	$	-	$	440,442	$	-	$	440,442
Government agency issued residential mortgage-backed securities		-		320,471		-		320,471
Government agency issued commercial mortgage-backed securities		-		25,982		-		25,982
Obligations of states and political subdivisions		-		108,958		-		108,958
Collateralized debt obligations		-		-		576		576
Other		473		18,975		-		19,448
Mortgage servicing rights		-		-		26,901		26,901
Derivative instruments		-		-		58,409		58,409
Total	$	473	$	914,828	$	85,886	$	1,001,187
Liabilities:
Derivative instruments	$	-	$	-	$	57,159	$	57,159

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 September 30, 2011 and 2010:

	September 30, 2011
									Total
	Level 1		Level 2		Level 3		Total		Losses
Assets:	(In thousands)
Loans held for sale	$	-	$	100,687	$	-	$	100,687	$	-
Impaired loans		-		-		279,889		279,889		(38,657	)
Other real estate owned		-		-		162,686		162,686		(16,277	)

	September 30, 2010
									Total
	Level 1		Level 2		Level 3		Total		Losses
Assets:	(In thousands)
Loans held for sale	$	-	$	125,815	$	-	$	125,815	$	-
Impaired loans		-		-		242,158		242,158		(43,584	)
Other real estate owned		-		-		82,647		82,647		(8,771	)

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 nine-month periods ended September 30, 2011 and 2010:

	Mortgage						Available-
	Servicing			Derivative			for-sale
	Rights			Instruments			Securities
	(In thousands)
Balance at December 31, 2010	$	38,642		$	2,685		$	-
Year to date net gains (losses) included in:
Net loss		(9,483	)		(1,898	)		-
Other comprehensive income		-			-			-
Purchases, sales, issuances and settlements, net		-			-			-
Transfers in and/or out of Level 3		-			-			-
Balance at September 30, 2011	$	29,159		$	787		$	-
Net unrealized (losses) gains included in net income for the
quarter relating to assets and liabilities held at September 30, 2011	$	(10,296	)	$	380		$	-

	Mortgage					Available-
	Servicing			Derivative		for-sale
	Rights			Instruments		Securities
	(In thousands)
Balance at December 31, 2009	$	35,560		$	844	$	2,125
Year to date net gains (losses) included in:
Net (loss) income		(8,659	)		406		(1,549	)
Other comprehensive income		-			-		-
Purchases, sales, issuances and settlements, net		-			-		-
Transfers in and/or out of Level 3		-			-		-
Balance at September 30, 2010	$	26,901		$	1,250	$	576
Net unrealized (losses) gains included in net income for the
quarter relating to assets and liabilities held at September 30, 2010	$	(4,609	)	$	1,398	$	(236	)

Carrying and Fair Value Information

	September 30, 2011						December 31, 2010
	Carrying			Fair			Carrying			Fair
	Value			Value			Value			Value
Assets:	(In thousands)
Cash and due from banks	$	161,876		$	161,876		$	99,916		$	99,916
Interest bearing deposits with other banks		338,250			338,250			172,170			172,170
Held-to-maturity securities		-			-			1,613,019			1,632,691
Available-for-sale securities		2,481,555			2,481,555			1,096,062			1,096,062
Federal funds sold and securities purchased under agreement to resell		-			-			150,000			150,000
Net loans and leases		8,856,219			8,927,062			9,136,194			9,187,064
Loans held for sale		100,687			100,955			93,697			94,001

Liabilities:
Noninterest bearing deposits		2,198,535			2,198,535			2,060,145			2,060,145
Savings and interest bearing deposits		5,705,135			5,705,135			5,794,552			5,794,552
Other time deposits		3,159,563			3,205,735			3,635,324			3,677,796
Federal funds purchased and securities sold under agreement to repurchase and other short-term borrowings		451,001			450,636			443,320			443,081
Long-term debt and other borrowings		193,883			200,328			270,392			286,993

Derivative instruments:
Forward commitments to sell fixed rate mortgage loans		(2,391	)		(2,391	)		2,499			2,499
Commitments to fund fixed rate mortgage loans		3,948			3,948			639			639
Interest rate swap position to receive		55,755			55,755			38,347			38,347
Interest rate swap position to pay		(56,525	)		(56,525	)		(38,800	)		(38,800	)

- Definition

This element represents the disclosure related to assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) 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 or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

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-Section 50

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-Number 157

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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.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

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-Publisher FASB

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