Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Balances of Assets Measured at Fair Value

The table below presents the balances of assets measured at fair value as of December 31, 2014 (there are no material liabilities measured at fair value):

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
Collateralized mortgage obligations	$	—	$	192,932	$	—	$	192,932
FNMA		—		292,553		—		292,553
FHLMC		—		146,882		—		146,882
GNMA		—		77,797		—		77,797
U.S. Government and agencies		—		29,960				29,960
Total assets measured at fair value on a recurring basis		—		740,124		—		740,124
Assets measured at fair value on a nonrecurring basis:
Other real estate owned	$	—	$	—	$	5,734	$	5,734
Loans held-for-sale		—		28,508		—		28,508
Impaired loans		—		—		41,334		41,334
Total assets measured at fair value on a nonrecurring basis	$	—	$	28,508	$	47,068	$	75,576

The table below presents the balances of assets measured at fair value as of December 31, 2013 (there were no material liabilities measured at fair value):

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
Collateralized mortgage obligations	$	—	$	97,557	$	—	$	97,557
FNMA		—		367,128		—		367,128
FHLMC		—		124,495		—		124,495
GNMA		—		95,592		—		95,592
U.S. Government and agencies		—		132,343		—		132,343
Total assets measured at fair value on a recurring basis	$	—	$	817,115	$	—	$	817,115
Assets Measured at Fair Value on a Nonrecurring Basis:
Other real estate owned	$	—	$	—	$	4,532	$	4,532
Impaired loans (collateral dependent)		—		—		38,379		38,379
Total assets measured at fair value on a nonrecurring basis	$	—	$	—	$	42,911	$	42,911

Book Value and Estimated Fair Value of Financial Instruments

The book value and estimated fair value of our financial instruments are as follows:

(In Thousands)	Fair Value Measurement	2014				2013
At December 31,		Book Value		Fair Value		Book Value		Fair Value
Financial assets:
Cash and cash equivalents	Level 1		508,039		508,039		484,426		484,426
Investment securities available-for-sale	See previous table		740,124		740,124		817,115		817,115
Investment securities held-to-maturity	See previous table		126,168		126,171		—		—
Loans, held-for-sale	See previous table		28,508		28,508		31,491		31,491
Loans, net	Level 2		3,156,652		3,121,855		2,904,976		2,871,499
Reverse Mortgages	Level 3		29,298		29,298		37,328		37,328
Stock in Federal Home Loan Bank of Pittsburgh	Level 2		23,278		23,278		35,869		35,869
Accrued interest receivable	Level 2		11,782		11,782		10,798		10,798
Financial liabilities:
Deposits	Level 2		3,649,235		3,461,218		3,186,942		2,982,420
Borrowed funds	Level 2		667,775		672,850		903,831		904,804
Standby letters of credit	Level 3		151		151		248		248
Accrued interest payable	Level 2		1,004		1,004		838		838

Estimated Fair Value of Off-Balance Sheet Financial Instruments

The estimated fair value of our off-balance sheet financial instruments is as follows:

(In Thousands)
December 31,	2014		2013
Off-balance sheet instruments:
Commitments to extend credit	$	—	$	—