FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(Dollars in thousands)
December 31, 2013
Securities available for sale:
U.S. Treasury	$	29,861	$	—	$	—	$	29,861
U.S. Federal agencies		—		387,285		—		387,285
Mortgage-backed securities		—		13,262		19,416		32,678
States and political subdivisions		—		50,334		—		50,334
Other securities		—		3,465		12,018		15,483
Derivative assets		—		2,211		—		2,211
Derivative liabilities		—		1,029		—		1,029
Loans held for sale		—		6,469		—		6,469
Mortgage servicing intangibles		—		—		568		568
December 31, 2012
Securities available for sale:
U.S. Treasury	$	—	$	—	$	—	$	—
U.S. Federal agencies		—		456,044		—		456,044
Mortgage-backed securities		—		19,924		—		19,924
States and political subdivisions		—		56,767		—		56,767
Other securities		—		3,366		10,025		13,391
Derivative assets		—		3,521		—		3,521
Derivative liabilities		—		1,801		—		1,801
Loans held for sale		—		11,257		—		11,257
Mortgage servicing intangibles		—		—		754		754

Changes in Level 3 Assets Measured at Estimated Fair Value on Recurring Basis

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the years ended December 31, 2013 and 2012 were as follows:

	Twelve Months Ended December 31,
	2013			2012
	(Dollars in thousands)
Balance at the beginning of the year	$	10,779		$	13,225
Purchases, issuances and settlements		20,499			1,376
Sales		(251	)		(6,050	)
Gains included in earnings		234			4,606
Total unrealized gains/(losses)		741			(2,378	)
Balance at the end of the year	$	32,002		$	10,779

Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes assets measured at fair value on a nonrecurring basis and the related gains or losses recognized during the year:

	Level 1		Level 2		Level 3		Total Fair Value		Gains (Losses)
	(Dollars in thousands)
Year Ended December 31, 2013
Impaired loans (less specific allowance)		—		—	$	34,848	$	34,848	$	—
Foreclosed assets		—		—		237		237		(35	)
Other real estate owned		—		—		8,149		8,149		(170	)
Year Ended December 31, 2012
Impaired loans (less specific allowance)		—		—	$	40,681	$	40,681	$	—
Foreclosed assets		—		—		339		339		(118	)
Other real estate owned		—		—		9,227		9,227		(1,328	)

Estimated Fair Values of Company's Financial Instruments

The estimated fair values of the Company’s financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows:

	December 31,
	2013				2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Level 2 inputs:
Cash and cash equivalents	$	1,857,535	$	1,857,535	$	1,945,848	$	1,945,848
Securities held for investment		11,986		12,094		16,416		16,689
Level 3 inputs:
Loans, net		3,348,112		3,364,940		3,203,702		3,264,948
FINANCIAL LIABILITIES
Level 2 inputs:
Deposits		5,419,519		5,451,114		5,440,830		5,466,958
Short-term borrowings		4,590		4,590		4,571		4,571
Long-term borrowings		6,938		6,908		9,178		9,224
Junior subordinated debentures		26,804		29,259		26,804		28,144
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments				1,654				1,498
Letters of credit				459				440