Fair Value (Tables)

9 Months Ended

Sep. 30, 2011

Fair Value [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Fair Value Measurements at September 30, 2011 using:
(in thousands)	Level 1		Level 2		Level 3		Balance at September 30,  2011
Assets
Investment securities
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	-	$	224,817	$	-	$	224,817
Obligations of states and political subdivisions		-		3,724		-		3,724
U.S. Government sponsored entities' asset-backed securities		-		566,748		-		566,748
Equity securities		1,125		-		749		1,874
Mortgage loans held for sale		-		10,778		-		10,778
Mortgage IRLCs		-		378		-		378
Liabilities
Interest rate swap	$	-	$	1,099	$	-	$	1,099
Fair value swap		-		-		200		200

Fair Value Measurements at December 31, 2010 using:
(in thousands)	Level 1		Level 2		Level 3		Balance at December 31, 2010
Assets
Investment securities
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	-	$	273,313	$	-	$	273,313
Obligations of states and political subdivisions		-		8,446		2,598		11,044
U.S. Government sponsored entities' asset-backed securities		-		1,011,412		-		1,011,412
Equity securities		1,008		-		745		1,753
Mortgage loans held for sale		-		8,340		-		8,340
Mortgage IRLCs		-		166		-		166
Liabilities
Interest rate swap	$	-	$	1,634	$	-	$	1,634
Fair value swap		-		-		60		60

Reconciliation Of The Level 3 Inputs For Financial Instruments Measured On A Recurring Basis

Level 3 Fair Value Measurements Three months ended September 30, 2011 and 2010
(in thousands)	Obligations of states and political subdivisions		Equity Securities		Fair value swap
Balance, at June 30, 2011	$	-	$	741	$	(200	)
Total gains/(losses)
Included in earnings – realized		-		-		-
Included in earnings – unrealized		-		-		-
Included in other comprehensive income		-		8		-
Purchases, sales, issuances and settlements, other, net		-		-		-
Balance September 30, 2011	$	-	$	749	$	(200	)
Balance, at June 30, 2010	$	2,756	$	-	$	(340	)
Total gains/(losses)
Included in earnings – realized		-		-		-
Included in earnings – unrealized		-		-		-
Included in other comprehensive income		93		-		-
Purchases, sales, issuances and settlements, other, net		-		-		-
Balance September 30, 2010	$	2,849	$	-	$	(340	)

Level 3 Fair Value Measurements

Nine months ended September 30, 2011 and 2010

(in thousands)	Obligations of states and political subdivisions			Equity  Securities		Fair value swap
Balance, at January 1, 2011	$	2,598		$	745	$	(60	)
Total gains/(losses)
Included in earnings – realized		-			-		-
Included in earnings – unrealized		(128	)		-		-
Included in other comprehensive income		-			4		-
Settlement		(2,470	)		-		-
Re-evaluation of fair value swap		-			-		(140	)
Balance September 30, 2011	$	-		$	749	$	(200	)
Balance, at January 1, 2010	$	2,751		$	-	$	(500	)
Total gains/(losses)
Included in earnings – realized		-			-		-
Included in earnings – unrealized		-			-		-
Included in other comprehensive income		98			-		-
Settlements		-			-		160
Balance September 30, 2010	$	2,849		$	-	$	(340	)

Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis

Fair Value Measurements at September 30, 2011 (as restated) using:
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Balance at September 30, 2011
Impaired loans:
Commercial, financial and agricultural	$	-	$	-	$	11,731	$	11,731
Commercial real estate						20,347		20,347
Construction real estate:
Vision commercial land and development						25,317		25,317
Remaining commercial						10,178		10,178
Residential real estate						15,222		15,222
Total impaired loans	$	-	$	-	$	82,795	$	82,795
Mortgage servicing rights		-		4,963		-		4,963
Other real estate owned		-		-		46,911		46,911

Fair Value Measurements at December 31, 2010 Using:
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Balance at December 31, 2010
Impaired loans:
Commercial, financial and agricultural	$	-	$	-	$	8,276	$	8,276
Commercial real estate						32,229		32,229
Construction real estate:
Vision commercial land and development						42,274		42,274
Remaining commercial						10,465		10,465
Residential real estate						16,399		16,399
Total impaired loans	$	-	$	-	$	109,643	$	109,643
Mortgage servicing rights		-		3,813		-		3,813
Other real estate owned		-		-		41,709		41,709

Fair Value Of Financial Instruments

(in thousands)	September 30, 2011				December 31, 2010
	Carrying value		Fair value		Carrying value		Fair value
Financial assets:
Cash and money market instruments	$	272,097	$	272,097	$	133,780	$	133,780
Investment securities		1,640,739		1,658,532		1,971,092		1,983,636
Accrued interest receivable		21,990		21,990		24,137		24,137
Mortgage loans held for sale		10,778		10,778		8,340		8,340
Impaired loans carried at fair value (Restated)		82,795		82,795		109,643		109,643
Other loans (Restated)		4,479,692		4,491,085		4,471,127		4,490,855
Loans receivable, net	$	4,573,265	$	4,584,658	$	4,589,110	$	4,608,838
Financial liabilities:
Noninterest bearing checking accounts	$	1,000,969	$	1,000,969	$	937,719	$	937,719
Interest bearing transactions accounts		1,432,827		1,432,827		1,283,159		1,283,159
Savings accounts		943,948		943,948		899,288		899,288
Time deposits		1,705,844		1,713,888		1,973,903		1,990,163
Other		5,599		5,599		1,351		1,351
Total deposits	$	5,089,187	$	5,097,231	$	5,095,420	$	5,111,680
Short-term borrowings	$	243,071	$	243,071	$	663,669	$	663,669
Long-term debt		823,722		917,963		636,733		699,080
Subordinated debentures/notes		75,250		66,934		75,250		63,099
Accrued interest payable		5,416		5,416		6,123		6,123
Derivative financial instruments:
Interest rate swap	$	1,099	$	1,099	$	1,634	$	1,634
Fair value swap		200		200		60		60