Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Measurements and Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis

For the three month period ending March 31, 2013, the Company has made no transfers of assets between Level 1 and Level 2, and has had no Level 3 activity.

The following tables set forth the Company's financial assets and liabilities measured on a recurring basis that were accounted for at fair value.  Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

March 31, 2013:

	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable		Balance
	Identical Assets		Inputs		Inputs		as of
	(Level 1)		(Level 2)		(Level 3)		March 31, 2013
Assets:
Securities Available for Sale:
U.S. Treasury	$	69,225	$	-	$	-	$	69,225
Federal Agency		-		297,373		-		297,373
State & municipal		-		146,252		-		146,252
Mortgage-backed		-		345,348		-		345,348
Collateralized mortgage obligations		-		591,738		-		591,738
Other securities		10,643		5,212		-		15,855
Total Securities Available for Sale	$	79,868	$	1,385,923	$	-	$	1,465,791
Trading Securities		4,762		-		-		4,762
Interest Rate Swaps		-		1,594		-		1,594
Total	$	84,630	$	1,387,517	$	-	$	1,472,147
Liabilities:
Interest Rate Swaps	$	-	$	1,594	$	-	$	1,594
Total	$	-	$	1,594	$	-	$	1,594

December 31, 2012:

	Quoted Prices in		Significant		Significant
	Active Markets for		Other		Unobservable		Balance
	Identical Assets		Observable Inputs		Inputs		as of
	(Level 1)		(Level 2)		(Level 3)		December 31, 2012
Assets:
Securities Available for Sale:
U.S. Treasury	$	64,425	$	-	$	-	$	64,425
Federal Agency		-		282,814		-		282,814
State & municipal		-		86,802		-		86,802
Mortgage-backed		-		250,281		-		250,281
Collateralized mortgage obligations		-		449,723		-		449,723
Other securities		11,866		2,088		-		13,954
Total Securities Available for Sale	$	76,291	$	1,071,708	$	-	$	1,147,999
Trading Securities		3,918		-		-		3,918
Interest Rate Swaps		-		1,490		-		1,490
Total	$	80,209	$	1,073,198	$	-	$	1,153,407
Liabilities:
Interest Rate Swaps	$	-	$	1,490	$	-	$	1,490
Total	$	-	$	1,490	$	-	$	1,490

Fair Value of Financial Instruments By Balance Sheet Grouping

The following table sets forth information with regard to estimated fair values of financial instruments at March 31, 2013 and December 31, 2012.  This table excludes financial instruments for which the carrying amount approximates fair value.  Financial instruments for which the fair value approximates carrying value include cash and cash equivalents, securities available for sale, trading securities, accrued interest receivable, non-maturity deposits, short-term borrowings, accrued interest payable, and interest rate swaps.

			March 31, 2013				December 31, 2012
(In thousands)	Fair Value Heirarchy		Carrying amount		Estimated fair value		Carrying amount		Estimated fair value
Financial assets
Securities held to maturity		2		62,474		63,361		60,563		61,535
Net loans		3		5,126,299		5,226,708		4,208,282		4,313,244
Financial liabilities
Time deposits		2		1,166,480		1,178,242		983,261		994,376
Long-term debt		2		428,661		468,095		367,492		407,404
Trust preferred debentures		2		101,196		100,460		75,422		74,147