Fair Value (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table provides the fair value for assets and liabilities required to be measured at fair value on a recurring basis in the Consolidated Statements of Financial Condition by level in the fair value hierarchy.

Recurring Fair Value Measurements

(Dollar amounts in thousands)

	As of December 31, 2016						As of December 31, 2015
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Trading securities:
Money market funds	$	1,645	$	—	$	—	$	2,530	$	—	$	—
Mutual funds	16,275		—		—		14,364		—		—
Total trading securities	17,920		—		—		16,894		—		—
Securities available-for-sale:
U.S. treasury securities	48,541		—		—		16,980		—		—
U.S. agency securities	—		183,637		—		—		86,643		—
CMOs	—		1,047,446		—		—		687,185		—
MBSs	—		332,655		—		—		153,530		—
Municipal securities	—		270,846		—		—		327,570
CDOs	—		—		33,260		—		—		31,529
Equity securities	—		3,065		—		—		3,199		—
Total securities available-for-   sale	48,541		1,837,649		33,260		16,980		1,258,127		31,529
Mortgage servicing rights ("MSRs") (1)	—		—		6,120		—		—		1,853
Derivative assets (1)	—		18,880		—		—		16,233		—
Liabilities:
Derivative liabilities (2)	$	—	$	21,150	$	—	$	—	$	21,039	$	—

⁽¹⁾  Included in other assets in the Consolidated Statements of Financial Condition.

⁽²⁾  Included in other liabilities in the Consolidated Statements of Financial Condition.

Significant Unobservable Inputs Used in the Valuation of CDOs

The following table presents the ranges of significant, unobservable inputs used by the Company to determine the fair value of MSRs as December 31, 2016 and 2015.

Significant Unobservable Inputs Used in the Valuation of MSRs

	As of December 31,
	2016				2015
Prepayment speed	7.7	%	-	22.8%	10.1	%	-	20.9%
Maturity (months)	12		-	103	6		-	86
Discount rate	9.5	%	-	13.0%	9.5	%	-	13.0%

The following table presents the ranges of significant, unobservable inputs calculated using the weighted average of the Issuers used by the Company as of December 31, 2016 and 2015.

Significant Unobservable Inputs Used in the Valuation of CDOs

	As of December 31,
	2016				2015
Probability of prepayment	0.0	%	-	10.9%	1.8	%	-	15.1%
Probability of default	16.7	%	-	46.8%	19.1	%	-	32.6%
Loss given default	93.3	%	-	98.9%	93.8	%	-	97.1%
Probability of deferral cure	7.6	%	-	100.0%	15.2	%	-	63.1%

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

A rollforward of the carrying value of CDOs for the three years ended December 31, 2016 is presented in the following table.

Carrying Value of CDOs

(Dollar amounts in thousands)

	Years Ended December 31,
	2016			2015			2014
Beginning balance	$	31,529		$	33,774		$	18,309
Additions	—			—			6,549
Change in other comprehensive (loss) income (1)	2,337			(2,030		)	13,495
Paydowns and sales (2)	(606		)	(215		)	(4,579		)
Ending balance	$	33,260		$	31,529		$	33,774

⁽¹⁾  Included in unrealized holding (losses) gains in the Consolidated Statements of Comprehensive Income.

⁽²⁾  During the year ended December 31, 2014, one CDO with a carrying value of $1.3 million and four CDOs totaling $2.9 million, which were acquired in the Great Lakes transaction, were sold.

Significant Unobservable Inputs Used in the Valuation of MSRs

The following table presents the ranges of significant, unobservable inputs used by the Company to determine the fair value of MSRs as December 31, 2016 and 2015.

Significant Unobservable Inputs Used in the Valuation of MSRs

	As of December 31,
	2016				2015
Prepayment speed	7.7	%	-	22.8%	10.1	%	-	20.9%
Maturity (months)	12		-	103	6		-	86
Discount rate	9.5	%	-	13.0%	9.5	%	-	13.0%

The following table presents the ranges of significant, unobservable inputs calculated using the weighted average of the Issuers used by the Company as of December 31, 2016 and 2015.

Significant Unobservable Inputs Used in the Valuation of CDOs

	As of December 31,
	2016				2015
Probability of prepayment	0.0	%	-	10.9%	1.8	%	-	15.1%
Probability of default	16.7	%	-	46.8%	19.1	%	-	32.6%
Loss given default	93.3	%	-	98.9%	93.8	%	-	97.1%
Probability of deferral cure	7.6	%	-	100.0%	15.2	%	-	63.1%

Fair Value Inputs Mortgage Servicing Assets Quantitative Information

A rollforward of the carrying value of MSRs for the three years ended December 31, 2016 is presented in the following table.

Carrying Value of MSRs

(Dollar amounts in thousands)

	Years Ended December 31,
	2016			2015			2014
Beginning balance	$	1,853		$	1,728		$	1,893
Additions from acquisition	3,092			—			—
New MSRs	1,263			342			315
Total (losses) gains included in earnings (1):
Changes in valuation inputs and assumptions	610			(11		)	(480		)
Other changes in fair value (2)	(698		)	(206		)	—
Ending balance	$	6,120		$	1,853		$	1,728
Contractual servicing fees earned during the year (1)	$	1,312		$	546		$	520
Total amount of loans being serviced for the benefit of   others at the end of the year	640,530			242,915			220,372

⁽¹⁾  Included in mortgage banking income in the Consolidated Statements of Income and relate to assets still held at the end of the year.

⁽²⁾  Primarily represents changes in expected future cash flows over time due to payoffs and paydowns.

Fair Value Assets Measured On Annual Basis

The fair value of Pension Plan assets is presented in the following table by level in the fair value hierarchy.

Annual Fair Value Measurements for Pension Plan Assets

(Dollar amounts in thousands)

	As of December 31, 2016						As of December 31, 2015
	Level 1		Level 2		Total		Level 1		Level 2		Total
Pension plan assets:
Mutual funds (1)	$	29,071	$	—	$	29,071	$	23,061	$	—	$	23,061
U.S. government and government   agency securities	5,957		7,947		13,904		6,866		5,538		12,404
Corporate bonds	—		7,010		7,010		—		9,569		9,569
Common stocks	7,526		—		7,526		11,330		—		11,330
Common trust funds	—		7,678		7,678		—		8,539		8,539
Total pension plan assets	$	42,554	$	22,635	$	65,189	$	41,257	$	23,646	$	64,903

⁽¹⁾  Includes mutual funds, money market funds, cash, cash equivalents, and accrued interest.

Fair Value Measurements, Nonrecurring

The following table provides the fair value for each class of assets and liabilities required to be measured at fair value on a non-recurring basis in the Consolidated Statements of Financial Condition by level in the fair value hierarchy.

Non-Recurring Fair Value Measurements

(Dollar amounts in thousands)

	As of December 31, 2016						As of December 31, 2015
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Collateral-dependent impaired loans (1)	$	—	$	—	$	22,019	$	—	$	—	$	10,519
OREO (2)	—		—		8,624		—		—		8,581
Loans held-for-sale (3)	—		—		10,484		—		—		14,444
Assets held-for-sale (4)	—		—		4,075		—		—		7,428

⁽¹⁾  Includes impaired loans with charge-offs and impaired loans with a specific reserve during the periods presented.

⁽²⁾  Includes OREO with fair value adjustments subsequent to initial transfer that occurred during the periods presented.

⁽³⁾  Included in other assets in the Consolidated Statements of Financial Condition.

⁽⁴⁾  Included in premises, furniture, and equipment in the Consolidated Statements of Financial Condition.

Fair Value, by Balance Sheet Grouping

For certain financial instruments that are not required to be measured at fair value in the Consolidated Statements of Financial Condition, the Company must disclose the estimated fair values and the level within the fair value hierarchy as shown in the following table.

Fair Value Measurements of Other Financial Instruments

(Dollar amounts in thousands)

		As of December 31, 2016				As of December 31, 2015
	Fair Value Hierarchy Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and due from banks	1	$	155,055	$	155,055	$	114,587	$	114,587
Interest-bearing deposits in other banks	2	107,093		107,093		266,615		266,615
Securities held-to-maturity	2	22,291		18,212		23,152		20,054
FHLB and FRB stock	2	59,131		59,131		39,306		39,306
Loans	3	8,172,584		7,973,845		7,091,988		6,959,024
Investment in BOLI	3	219,746		219,746		209,601		209,601
Accrued interest receivable	3	34,384		34,384		27,847		27,847
Other interest-earning assets	3	834		834		1,982		1,982
Liabilities:
Deposits	2	$	8,828,603	$	8,820,572	$	8,097,738	$	8,093,640
Borrowed funds	2	879,008		879,008		165,096		165,096
Senior and subordinated debt	2	194,603		197,888		201,208		205,726
Accrued interest payable	2	3,416		3,416		2,175		2,175