Fair Value Accounting and Measurement (Tables)

9 Months Ended

Sep. 30, 2014

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, 2014 and December 31, 2013 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, 2014	(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	862,466	$	—	$	862,466	$	—
State and municipal debt securities	389,497		—		389,497		—
U.S. government agency and government-sponsored enterprise securities	333,999		—		333,999		—
U.S. government securities	20,304		20,304		—		—
Other securities	5,145		—		5,145		—
Total securities available for sale	$	1,611,411	$	20,304	$	1,591,107	$	—
Other assets (Interest rate contracts)	$	9,472	$	—	$	9,472	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	9,472	$	—	$	9,472	$	—

	Fair value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
December 31, 2013	(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	948,408	$	—	$	948,408	$	—
State and municipal debt securities	364,470		—		364,470		—
U.S. government agency and government-sponsored enterprise securities	326,039		—		326,039		—
U.S. government securities	20,114		20,114		—		—
Other securities	5,080		—		5,080		—
Total securities available for sale	$	1,664,111	$	20,114	$	1,643,997	$	—
Other assets (Interest rate contracts)	$	9,044	$	—	$	9,044	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	9,044	$	—	$	9,044	$	—

Financial Assets Accounted For Fair Value On Nonrecurring Basis

The following tables set forth information related to the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the current and prior year quarterly periods:

	Fair value at September 30, 2014		Fair Value Measurements at Reporting Date Using						Gains (Losses) During the Three Months Ended September 30, 2014			Losses During the Nine Months Ended September 30, 2014
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	2,998	$	—	$	—	$	2,998	$	69		$	(14	)
Noncovered OREO	2,535		—		—		2,535		(351		)	(351		)
Covered OREO	415		—		—		415		(37		)	(37		)
	$	5,948	$	—	$	—	$	5,948	$	(319	)	$	(402	)

	Fair value at September 30, 2013		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended September 30, 2013			Losses During the Nine Months Ended September 30, 2013
			Level 1		Level 2		Level 3
	(in thousands)
Noncovered OREO	$	3,714	$	—	$	—	$	3,714	$	(1,040	)	$	(1,084	)
Covered OREO	544		—		—		544		(183		)	(248		)
	$	4,258	$	—	$	—	$	4,258	$	(1,223	)	$	(1,332	)

Fair Value, by Balance Sheet Grouping

The following tables summarize carrying amounts and estimated fair values of selected financial instruments as well as assumptions used by the Company in estimating fair value at September 30, 2014 and December 31, 2013:

	September 30, 2014
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	157,817	$	157,817	$	157,817	$	—	$	—
Interest-earning deposits with banks	105,631		105,631		105,631		—		—
Securities available for sale	1,611,411		1,611,411		20,304		1,591,107		—
FHLB stock	31,592		31,592		—		31,592		—
Loans held for sale	949		949		—		949		—
Loans	4,755,151		4,862,053		—		—		4,862,053
FDIC loss-sharing asset	23,492		9,385		—		—		9,385
Interest rate contracts	9,472		9,472		—		9,472		—
Liabilities
Deposits	$	6,244,401	$	6,242,655	$	5,794,399	$	448,256	$	—
FHLB Advances	6,578		7,105		—		7,105		—
Repurchase agreements	25,000		26,167		—		26,167		—
Interest rate contracts	9,472		9,472		—		9,472		—

	December 31, 2013
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	165,030	$	165,030	$	165,030	$	—	$	—
Interest-earning deposits with banks	14,531		14,531		14,531		—		—
Securities available for sale	1,664,111		1,664,111		20,114		1,643,997		—
FHLB stock	32,529		32,529		—		32,529		—
Loans held for sale	735		735		—		735		—
Loans	4,444,842		4,605,038		—		—		4,605,038
FDIC loss-sharing asset	39,846		11,248		—		—		11,248
Interest rate contracts	9,044		9,044		—		9,044		—
Liabilities
Deposits	$	5,959,475	$	5,958,747	$	5,449,546	$	509,201	$	—
FHLB Advances	36,606		35,080		—		35,080		—
Repurchase agreements	25,000		26,361		—		26,361		—
Interest rate contracts	9,044		9,044		—		9,044		—

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, 2014		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans - real estate collateral	$	534	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
Impaired loans - other collateral (3)	2,464		Fair Market Value of Collateral	Adjustment to Stated value	0% - 71% (49%)
Noncovered OREO	2,535		Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
Covered OREO	415		Fair Market Value of Collateral	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, inventory and equipment).
(2) Quantitative disclosures are not provided for impaired loans collateralized by real estate, noncovered OREO and covered OREO because there were no adjustments made to the appraisal value during the current period.
(3) Other collateral consists of accounts receivable, inventory and equipment.

	Fair value at September 30, 2013		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Noncovered OREO	$	3,714	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
Covered OREO	544		Fair Market Value of Collateral	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, inventory and equipment).
(2) Quantitative disclosures are not provided for noncovered OREO and covered OREO because there were no adjustments made to the appraisal value during the current period.