Fair Value Accounting and Measurement (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Financial Assets And Liabilities Accounted For Fair Value On Recurring Basis

The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at September 30, 2012 and December 31, 2011 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

	Fair value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
September 30, 2012	(in thousands)
Assets
Securities available for sale
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	563,208	$	—	$	563,208	$	—
State and municipal debt securities	282,500		—		279,550		2,950
U.S. government agency and government-sponsored enterprise securities	94,506		—		94,506		—
Other securities	3,410		—		3,410		—
Total securities available for sale	$	943,624	$	—	$	940,674	$	2,950
Other assets (Interest rate contracts)	$	16,375	$	—	$	16,375	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	16,375	$	—	$	16,375	$	—

	Fair value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
December 31, 2011	(in thousands)
Assets
Securities available for sale
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	695,954	$	—	$	695,954	$	—
State and municipal debt securities	285,763		—		285,763		—
U.S. government agency and government-sponsored enterprise securities	43,063		—		43,063		—
Other securities	3,330		—		3,330		—
Total securities available for sale	$	1,028,110	$	—	$	1,028,110	$	—
Other assets (Interest rate contracts)	$	16,302	$	—	$	16,302	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	16,302	$	—	$	16,302	$	—

Financial Assets Accounted For Fair Value On Nonrecurring Basis

The following tables set forth the Company's assets that were measured using fair value estimates on a nonrecurring basis at September 30, 2012 and 2011.

	Fair value at September 30, 2012		Fair Value Measurements at Reporting Date Using						Gains (Losses) During the Three Months Ended September 30, 2012			Losses During the Nine Months Ended September 30, 2012
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	6,094	$	—	$	—	$	6,094	$	509		$	(3,377	)
Noncovered OREO	1,807		—		—		1,807		(458		)	(3,117		)
Covered OREO	1,021		—		—		1,021		(481		)	(1,025		)
Noncovered OPPO	—		—		—		—		—			(1,990		)
	$	8,922	$	—	$	—	$	8,922	$	(430	)	$	(9,509	)

	Fair value  at September 30, 2011		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended September 30, 2011			Losses During the Nine Months Ended September 30, 2011
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	3,717	$	—	$	—	$	3,717	$	(735	)	$	(4,707	)
Noncovered OREO	2,876		—		—		2,876		(573		)	(3,120		)
Covered OREO	455		—		—		455		(204		)	(280		)
Noncovered OPPO	—		—		—		—		—			(185		)
	$	7,048	$	—	$	—	$	7,048	$	(1,512	)	$	(8,292	)

Fair Value, by Balance Sheet Grouping

The following table summarizes carrying amounts and estimated fair values of selected financial instruments as well as assumptions used by the Company in estimating fair value:

	September 30, 2012										December 31, 2011
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3		Carrying Amount		Fair Value
	(in thousands)
Assets
Cash and due from banks	$	98,979	$	98,979	$	98,979	$	—	$	—	$	91,364	$	91,364
Interest-earning deposits with banks	463,613		463,613		463,613		—		—		202,925		202,925
Securities available for sale	943,624		943,624		—		940,674		2,950		1,028,110		1,028,110
FHLB stock	22,017		22,017		—		22,017		—		22,215		22,215
Loans held for sale	3,600		3,600		—		3,600		—		2,148		2,148
Loans	2,854,603		2,944,623		—		—		2,944,623		2,827,259		2,957,345
FDIC loss-sharing asset	111,677		35,518		—		—		35,518		175,071		71,788
Interest rate contracts	16,375		16,375		—		16,375		—		16,302		16,302
Liabilities
Deposits	$	3,938,855	$	3,939,661	$	3,421,361	$	518,300	$	—	$	3,815,529	$	3,817,013
FHLB Advances	113,080		113,206		—		113,206		—		119,009		119,849
Repurchase agreements	25,000		26,220		—		26,220		—		25,000		26,580
Interest rate contracts	16,375		16,375		—		16,375		—		16,302		16,302

Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Inputs, Assets, Quantitative Information

The range and weighted-average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets, along with the valuation techniques used, are shown in the following table:

	Fair value at September 30, 2012		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans - real estate collateral	$	4,148	Market	Adjustment to Appraisal Value	N/A (2)
Impaired loans - other collateral (3)	1,946		Market	Adjustment to stated value	0% - 70% (33%)
Noncovered OREO	1,807		Market	Adjustment to Appraisal Value	N/A (2)
Covered OREO	1,021		Market	Adjustment to Appraisal Value	N/A (2)
Noncovered OPPO	—		Market	Adjustment to Appraisal Value	N/A (2)
(1) Discount applied to appraisal value, letter of intent to purchase, or stated value (in the case of accounts receivable and inventory).
(2) Quantitative disclosures are not provided for impaired loans collateralized by real estate, noncovered OREO, covered OREO and noncovered OPPO because there were no adjustments made to the appraisal value during the current period.
(3) Other collateral consists of accounts receivable and inventory.