FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013 are reflected in the following table:



	Fair Value Measurements
	Level 1		Level 2		Level 3	Fair Value
	(dollars expressed in thousands)
June 30, 2014:
Assets:
Available-for-sale investment securities:
U.S. Government sponsored agencies	$	—	193,893		—	193,893
Residential mortgage-backed	—		1,031,336		—	1,031,336
Commercial mortgage-backed	—		851		—	851
State and political subdivisions	—		30,753		—	30,753
Corporate notes	—		171,155		—	171,155
Equity investments	1,705		—		—	1,705
Mortgage loans held for sale	—		27,576		—	27,576
Derivative instruments:
Interest rate lock commitments	—		535		—	535
Forward commitments to sell mortgage-backed securities	—		(441	)	—	(441	)
Servicing rights	—		—		18,784	18,784
Total	$	1,705	1,455,658		18,784	1,476,147
Liabilities:
Nonqualified deferred compensation plan	$	6,594	—		—	6,594
Total	$	6,594	—		—	6,594
December 31, 2013:
Assets:
Available-for-sale investment securities:
U.S. Government sponsored agencies	$	—	275,899		—	275,899
Residential mortgage-backed	—		1,105,787		—	1,105,787
Commercial mortgage-backed	—		856		—	856
State and political subdivisions	—		31,557		—	31,557
Corporate notes	—		196,203		—	196,203
Equity investments	1,443		—		—	1,443
Mortgage loans held for sale	—		25,548		—	25,548
Derivative instruments:
Interest rate lock commitments	—		217		—	217
Forward commitments to sell mortgage-backed securities	—		296		—	296
Servicing rights	—		—		18,854	18,854
Total	$	1,443	1,636,363		18,854	1,656,660
Liabilities:
Nonqualified deferred compensation plan	$	6,641	—		—	6,641
Total	$	6,641	—		—	6,641

Schedule Of Servicing Assets At Fair Value Measured At Level 3 On Recurring Basis [Table Text Block]

The following table presents the changes in Level 3 assets measured on a recurring basis for the three and six months ended June 30, 2014 and 2013:



	Servicing Rights
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2014			2013	2014		2013
	(dollars expressed in thousands)
Balance, beginning of period	$	19,077		16,175	18,854		14,792
Total gains or losses (realized/unrealized):
Included in earnings ⁽¹⁾	(901		)	470	(1,133	)	624
Included in other comprehensive income	—			—	—		—
Issuances	577			888	1,032		2,117
Purchases	31			—	31		—
Transfers in and/or out of level 3	—			—	—		—
Balance, end of period	$	18,784		17,533	18,784		17,533

____________________


(1)	Gains or losses (realized/unrealized) are included in noninterest income in the consolidated statements of income.

Fair Value Measurements, Nonrecurring [Table Text Block]

Assets measured at fair value on a nonrecurring basis as of June 30, 2014 and December 31, 2013 are reflected in the following table:



	Fair Value Measurements
	Level 1		Level 2	Level 3	Fair Value
	(dollars expressed in thousands)
June 30, 2014:
Assets:
Impaired loans:
Commercial, financial and agricultural	$	—	—	11,573	11,573
Real estate construction and development	—		—	4,016	4,016
Real estate mortgage:
Residential mortgage	—		—	86,461	86,461
Home equity	—		—	5,609	5,609
Multi-family residential	—		—	22,781	22,781
Commercial real estate	—		—	9,638	9,638
Consumer and installment	—		—	12	12
Other real estate	—		—	59,235	59,235
Total	$	—	—	199,325	199,325
December 31, 2013:
Assets:
Impaired loans:
Commercial, financial and agricultural	$	—	—	10,026	10,026
Real estate construction and development	—		—	4,620	4,620
Real estate mortgage:
Residential mortgage	—		—	88,476	88,476
Home equity	—		—	5,889	5,889
Multi-family residential	—		—	27,310	27,310
Commercial real estate	—		—	11,812	11,812
Consumer and installment	—		—	19	19
Other real estate	—		—	66,702	66,702
Total	$	—	—	214,854	214,854

Fair Value, by Balance Sheet Grouping [Table Text Block]

The estimated fair value of the Company’s financial instruments at June 30, 2014 was as follows:



	June 30, 2014
	Carrying Value			Estimated Fair Value
	Carrying Value			Level 1	Level 2	Level 3		Total
	(dollars expressed in thousands)
Financial Assets:
Cash and cash equivalents	$	287,379		287,379	—	—		287,379
Investment securities:
Available for sale	1,429,693			1,705	1,427,988	—		1,429,693
Held to maturity	694,085			—	685,869	—		685,869
Loans held for portfolio	2,846,525			—	—	2,732,392		2,732,392
Loans held for sale	27,576			—	27,576	—		27,576
FRB and FHLB stock	30,388			30,388	—	—		30,388
Derivative instruments	94			—	94	—		94
Accrued interest receivable	14,742			14,742	—	—		14,742
Financial Liabilities:
Deposits:
Noninterest-bearing demand	$	1,299,746		1,299,746	—	—		1,299,746
Interest-bearing demand	680,324			680,324	—	—		680,324
Savings and money market	1,844,362			1,844,362	—	—		1,844,362
Time deposits	981,602			—	—	981,846		981,846
Securities sold under agreements to repurchase	57,572			57,572	—	—		57,572
Accrued interest payable	783			783	—	—		783
Subordinated debentures	354,248			—	—	302,308		302,308
Off-Balance Sheet Financial Instruments:
Commitments to extend credit, standby letters of credit and financial guarantees	$	(2,430	)	—	—	(2,430	)	(2,430	)

The estimated fair value of the Company’s financial instruments at December 31, 2013 was as follows:



	December 31, 2013
	Carrying Value			Estimated Fair Value
	Carrying Value			Level 1	Level 2	Level 3		Total
	(dollars expressed in thousands)
Financial Assets:
Cash and cash equivalents	$	190,435		190,435	—	—		190,435
Investment securities:
Available for sale	1,611,745			1,443	1,610,302	—		1,611,745
Held to maturity	740,186			—	719,183	—		719,183
Loans held for portfolio	2,750,514			—	—	2,562,160		2,562,160
Loans held for sale	25,548			—	25,548	—		25,548
FRB and FHLB stock	27,357			27,357	—	—		27,357
Derivative instruments	513			—	513	—		513
Accrued interest receivable	17,798			17,798	—	—		17,798
Financial Liabilities:
Deposits:
Noninterest-bearing demand	$	1,243,545		1,243,545	—	—		1,243,545
Interest-bearing demand	679,527			679,527	—	—		679,527
Savings and money market	1,844,710			1,844,710	—	—		1,844,710
Time deposits	1,046,113			—	—	1,046,485		1,046,485
Securities sold under agreements to repurchase	43,143			43,143	—	—		43,143
Accrued interest payable	63,341			63,341	—	—		63,341
Subordinated debentures	354,210			—	—	242,678		242,678
Off-Balance Sheet Financial Instruments:
Commitments to extend credit, standby letters of credit and financial guarantees	$	(2,715	)	—	—	(2,715	)	(2,715	)

- 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, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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