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

6 Months Ended

Jun. 30, 2013

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

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

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):

June 30, 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)		June 30, 2013
Assets:
Securities Available for Sale:
U.S. Treasury	$	53,949	$	-	$	-	$	53,949
Federal Agency		-		279,458		-		279,458
State & municipal		-		126,674		-		126,674
Mortgage-backed		-		291,594		-		291,594
Collateralized mortgage obligations		-		622,768		-		622,768
Other securities		10,909		5,051		-		15,960
Total Securities Available for Sale	$	64,858	$	1,325,545	$	-	$	1,390,403
Trading Securities		5,092		-		-		5,092
Interest Rate Swaps		-		68		-		68
Total	$	69,950	$	1,325,613	$	-	$	1,395,563
Liabilities:
Interest Rate Swaps	$	-	$	68	$	-	$	68
Total	$	-	$	68	$	-	$	68

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 June 30, 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.

			June 30, 2013				December 31, 2012
(In thousands)	Fair Value Hierarchy		Carrying amount		Estimated fair value		Carrying amount		Estimated fair value
Financial assets
Securities held to maturity		2	$	122,302	$	121,069	$	60,563	$	61,535
Net loans		3		5,219,526		5,287,651		4,208,282		4,313,244
Financial liabilities
Time deposits		2	$	1,105,038	$	1,112,212	$	983,261	$	994,376
Long-term debt		2		309,111		336,980		367,492		407,404
Trust preferred debentures		2		101,196		100,460		75,422		74,147