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

9 Months Ended

Sep. 30, 2018

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)	Level 1		Level 2		Level 3		September 30, 2018
Assets:
AFS securities
Federal Agency	$	-	$	83,262	$	-	$	83,262
State & municipal		-		36,467		-		36,467
Mortgage-backed		-		492,408		-		492,408
Collateralized mortgage obligations		-		488,937		-		488,937
Total AFS securities	$	-	$	1,101,074	$	-	$	1,101,074
Equity securities		20,722		4,000		-		24,722
Derivatives		-		23,682		-		23,682
Total	$	20,722	$	1,128,756	$	-	$	1,149,478
Liabilities:
Derivatives	$	-	$	20,054	$	-	$	20,054
Total	$	-	$	20,054	$	-	$	20,054

(In thousands)	Level 1		Level 2		Level 3		December 31, 2017
Assets:
AFS securities
Federal Agency	$	-	$	108,899	$	-	$	108,899
State & municipal		-		41,956		-		41,956
Mortgage-backed		-		554,927		-		554,927
Collateralized mortgage obligations		-		535,994		-		535,994
Other securities		5,845		8,304		-		14,149
Total AFS securities	$	5,845	$	1,250,080	$	-	$	1,255,925
Trading securities		11,467		-		-		11,467
Derivatives		-		3,732		-		3,732
Total	$	17,312	$	1,253,812	$	-	$	1,271,124
Liabilities:
Derivatives	$	-	$	324	$	-	$	324
Total	$	-	$	324	$	-	$	324

Fair Value of Financial Instruments by Balance Sheet Grouping

The following table sets forth information with regard to estimated fair values of financial instruments. 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, AFS securities, equity securities, trading securities, accrued interest receivable, non-maturity deposits, short-term borrowings, accrued interest payable and interest rate swaps.

			September 30, 2018				December 31, 2017
(In thousands)	Fair Value Hierarchy		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
HTM securities		2	$	659,949	$	645,732	$	484,073	$	481,871
Net loans		3		6,819,492		6,762,901		6,515,273		6,651,931
Financial liabilities:
Time deposits		2	$	868,569	$	860,791	$	806,766	$	801,294
Long-term debt		2		73,751		72,152		88,869		88,346
Junior subordinated debt		2		101,196		102,979		101,196		104,593