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Fair Values (Tables)

12 Months Ended

Dec. 31, 2011

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Fair Value Measurements at December 31, 2011 Using:
(In thousands)	Level 1		Level 2		Level 3		Balance at December 31, 2011
Assets
Investment Securities
Obligations of U.S. Treasury and Other U.S. Government Sponsored Entities	$	-	$	371,657	$	-	$	371,657
Obligations of States and Political Subdivisions		-		2,660		-		2,660
U.S. Government Sponsored Entities' Asset-Backed Securities		-		444,295		-		444,295
Equity Securities		1,270		-		763		2,033
Mortgage Loans Held for Sale		-		11,535		-		11,535
Mortgage IRLCs		-		251		-		251

Liabilities
Interest Rate Swap	$	-	$	846	$	-	$	846
Fair value swap		-		-		700		700

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 Level 3 Inputs For Financial Instruments Measured On Recurring Basis


Level 3 Fair Value Measurements
(In thousands)	Obligations of States and Political Subdivisions			Equity Securities		Fair Value Swap
Balance, at December 31, 2010	$	2,598		$	745	$	(60	)
Total Gains/(Losses)
Included in earnings - realized		-			-		-
Included in earnings - unrealized		(128	)		-		-
Included in other comprehensive income		-			18		-
Purchases, sales, issuances and settlements, other, net		(2,470	)		-		-
Re-evaluation of fair value swap		-			-		(640	)
Balance December 31, 2011	$	-		$	763	$	(700	)

Balance, at December 31, 2009	$	2,751		$	-	$	(500	)
Total Gains/(Losses)
Included in earnings - realized		-			-		-
Included in earnings - unrealized		-			-		-
Included in other comprehensive income		(43	)		-		-
Purchases, sales, issuances and settlements, other, net		(110	)		-		-
Settlements		-			-		440
Transfers in and/or out of Level 3		-			745		-
Balance December 31, 2010	$	2,598		$	745	$	(60	)

Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis


Fair Value Measurements at December 31, 2011 Using:
(In thousands)	(Level 1)		(Level 2)		(Level 3)		Balance at December 31, 2011
Impaired Loans:
Commercial, financial and Agricultural	$	-	$	-	$	19,931	$	19,931
Commercial real estate		-		-		24,859		24,859
Construction real estate:
Vision commercial land and development		-		-		21,228		21,228
Remaining commercial		-		-		8,860		8,860
Residential real estate		-		-		12,935		12,935
Total impaired loans	$	-	$	-	$	87,813	$	87,813
Mortgage Servicing Rights		-		5,815		-		5,815
Other Real Estate Owned		-		-		42,272		42,272


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)	December 31, 2011				December 31, 2010
Financial Assets:	Carrying Value		Fair Value		Carrying Value		Fair Value
Cash and Money Market Instruments	$157,486		$157,486		$133,780		$133,780
Investment Securities		1,640,869		1,655,219		1,971,092		1,983,636
Accrued Interest Receivable		19,697		19,697		24,137		24,137
Mortgage Loans Held for Sale		11,535		11,535		8,340		8,340
Impaired Loans Carried at Fair Value		87,813		87,813		109,643		109,643
Other Loans		4,149,307		4,167,224		4,471,127		4,490,855
Loans Receivable, Net	$	4,248,655	$	4,266,572	$	4,589,110	$	4,608,838
Assets held for sale	$	382,462	$	382,462	$	-	$	-
Financial Liabilities:
Noninterest Bearing Checking		995,733		995,733	$	937,719	$	937,719
Interest Bearing Transactions Accounts		1,037,385		1,037,385		1,283,159		1,283,159
Savings		931,526		931,526		899,288		899,288
Time Deposits		1,499,105		1,506,075		1,973,903		1,990,163
Other		1,365		1,365		1,351		1,351
Total Deposits	$	4,465,114	$	4,472,084	$	5,095,420	$	5,111,680
Short-Term Borrowings	$	263,594	$	263,594	$	663,669	$	663,669
Long-Term Debt		823,182		915,274		636,733		699,080
Subordinated Debentures/Notes		75,250		68,601		75,250		63,099
Accrued Interest Payable		4,916		4,916		6,123		6,123
Liabilities held for sale		536,186		536,991		-		-
Derivative Financial Instruments:
Interest Rate Swap	$	846	$	846	$	1,634	$	1,634
Fair value swap		700		700		60		60

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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