Fair Value Accounting and Measurement (Tables)

9 Months Ended

Sep. 30, 2015

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, 2015 and December 31, 2014 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, 2015	(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,164,532	$	—	$	1,164,532	$	—
State and municipal debt securities	489,469		—		489,469		—
U.S. government agency and government-sponsored enterprise securities	347,856		—		347,856		—
U.S. government securities	20,400		20,400		—		—
Other securities	5,167		—		5,167		—
Total securities available for sale	$	2,027,424	$	20,400	$	2,007,024	$	—
Other assets (Interest rate contracts)	$	14,548	$	—	$	14,548	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	14,602	$	—	$	14,602	$	—

	Fair value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
December 31, 2014	(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations	$	1,162,387	$	—	$	1,162,387	$	—
State and municipal debt securities	496,484		—		496,484		—
U.S. government agency and government-sponsored enterprise securities	413,706		—		413,706		—
U.S. government securities	20,499		20,499		—		—
Other securities	5,181		—		5,181		—
Total securities available for sale	$	2,098,257	$	20,499	$	2,077,758	$	—
Other assets (Interest rate contracts)	$	11,800	$	—	$	11,800	$	—
Liabilities
Other liabilities (Interest rate contracts)	$	11,851	$	—	$	11,851	$	—

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, 2015		Fair Value Measurements at Reporting Date Using						Losses During the Three Months Ended September 30, 2015			Losses During the Nine Months Ended September 30, 2015
			Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	350	$	—	$	—	$	350	$	(1,012	)	$	(1,012	)
OREO	3,286		—		—		3,286		(646		)	(662		)
	$	3,636	$	—	$	—	$	3,636	$	(1,658	)	$	(1,674	)

	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	)
OREO (1)	2,950		—		—		2,950		(388		)	(388		)
	$	5,948	$	—	$	—	$	5,948	$	(319	)	$	(402	)

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, 2015 and December 31, 2014:

	September 30, 2015
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	149,610	$	149,610	$	149,610	$	—	$	—
Interest-earning deposits with banks	22,578		22,578		22,578		—		—
Securities available for sale	2,027,424		2,027,424		20,400		2,007,024		—
FHLB stock	10,242		10,242		—		10,242		—
Loans held for sale	6,637		6,637		—		6,637		—
Loans	5,677,462		5,783,474		—		—		5,783,474
FDIC loss-sharing asset	8,146		2,140		—		—		2,140
Interest rate contracts	14,548		14,548		—		14,548		—
Liabilities
Deposits	$	7,314,805	$	7,312,329	$	6,844,014	$	468,315	$	—
FHLB Advances	6,540		7,198		—		7,198		—
Repurchase agreements	73,182		74,046		—		74,046		—
Interest rate contracts	14,602		14,602		—		14,602		—

	December 31, 2014
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash and due from banks	$	171,221	$	171,221	$	171,221	$	—	$	—
Interest-earning deposits with banks	16,949		16,949		16,949		—		—
Securities available for sale	2,098,257		2,098,257		20,499		2,077,758		—
FHLB stock	33,365		33,365		—		33,365		—
Loans held for sale	1,116		1,116		—		1,116		—
Loans	5,375,809		5,516,286		—		—		5,516,286
FDIC loss-sharing asset	15,174		4,054		—		—		4,054
Interest rate contracts	11,800		11,800		—		11,800		—
Liabilities
Deposits	$	6,924,722	$	6,921,804	$	6,416,017	$	505,787	$	—
FHLB Advances	216,568		217,296		—		217,296		—
Repurchase agreements	105,080		106,171		—		106,171		—
Other borrowings	8,248		8,248		—		8,248		—
Interest rate contracts	11,851		11,851		—		11,851		—

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, 2015		Valuation Technique	Unobservable Input	Range (Weighted Average) (1)
	(dollars in thousands)
Impaired loans	$	350	Fair Market Value of Collateral	Adjustment to Appraisal Value	N/A (2)
OREO	3,286		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 and OREO because there were no adjustments made to the appraisal value during the current period.

	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%)
OREO	2,950		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 and 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.