FAIR VALUE DISCLOSURES (Tables)

9 Months Ended

Sep. 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 September 30, 2014 and December 31, 2013 are reflected in the following table:



	Fair Value Measurements
(dollars in thousands)	Level 1		Level 2		Level 3	Fair Value
September 30, 2014:
Assets:
Available-for-sale investment securities:
U.S. Government sponsored agencies	$	—	217,193		—	217,193
Residential mortgage-backed	—		1,027,567		—	1,027,567
Commercial mortgage-backed	—		837		—	837
State and political subdivisions	—		30,911		—	30,911
Corporate notes	—		183,335		—	183,335
Equity investments	1,709		—		—	1,709
Mortgage loans held for sale	—		28,866		—	28,866
Derivative instruments:
Interest rate lock commitments	—		378		—	378
Forward commitments to sell mortgage-backed securities	—		(150	)	—	(150	)
Servicing rights	—		—		19,106	19,106
Total	$	1,709	1,488,937		19,106	1,509,752
Liabilities:
Nonqualified deferred compensation plan	$	6,575	—		—	6,575
Total	$	6,575	—		—	6,575
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 nine months ended September 30, 2014 and 2013:



	Servicing Rights
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(dollars in thousands)	2014			2013	2014		2013
Balance, beginning of period	$	18,784		17,533	18,854		14,792
Total gains or losses (realized/unrealized):
Included in earnings ⁽¹⁾	(501		)	283	(1,634	)	907
Included in other comprehensive income	—			—	—		—
Issuances	770			942	1,802		3,059
Purchases	53			—	84		—
Transfers in and/or out of level 3	—			—	—		—
Balance, end of period	$	19,106		18,758	19,106		18,758

____________________


(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 September 30, 2014 and December 31, 2013 are reflected in the following table:



	Fair Value Measurements
(dollars in thousands)	Level 1		Level 2	Level 3	Fair Value
September 30, 2014:
Assets:
Impaired loans	$	—	—	140,050	140,050
Other real estate	—		—	55,709	55,709
Total	$	—	—	195,759	195,759
December 31, 2013:
Assets:
Impaired loans	$	—	—	148,152	148,152
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 September 30, 2014 was as follows:



	September 30, 2014
	Carrying Value		Estimated Fair Value
(dollars in thousands)	Carrying Value		Level 1	Level 2	Level 3	Total
Financial Assets:
Cash and cash equivalents	$	263,466	263,466	—	—	263,466
Investment securities:
Available for sale	1,461,552		1,709	1,459,843	—	1,461,552
Held to maturity	667,831		—	658,343	—	658,343
Loans held for portfolio	2,876,017		—	—	2,768,334	2,768,334
Loans held for sale	28,866		—	28,866	—	28,866
FRB and FHLB stock	30,623		30,623	—	—	30,623
Derivative instruments	228		—	228	—	228
Accrued interest receivable	15,400		15,400	—	—	15,400
Financial Liabilities:
Deposits	$	4,826,930	3,880,285	—	945,991	4,826,276
Securities sold under agreements to repurchase	42,682		42,682	—	—	42,682
Accrued interest payable	789		789	—	—	789
Subordinated debentures	354,267		—	—	302,041	302,041
Liability for 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
(dollars in thousands)	Carrying Value		Level 1	Level 2	Level 3	Total
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	$	4,813,895	3,767,782	—	1,046,485	4,814,267
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
Liability for 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.

+ References+ Details

- 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.

+ References+ Details