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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2013
Fair Value Disclosures [Abstract] |
Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2013 and December 31, 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:
|  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value |
June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 3,042,723 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,042,723 |
Residential mortgage-backed securities |  |  | — |  |  |  | 2,075,573 |  |  |  | — |  |  |  | 2,075,573 |
States and political subdivisions |  |  | — |  |  |  | 879,175 |  |  |  | — |  |  |  | 879,175 |
Other |  |  | — |  |  |  | 35,899 |  |  |  | — |  |  |  | 35,899 |
Trading account securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  |  | 14,489 |  |  |  | — |  |  |  | — |  |  |  | 14,489 |
States and political subdivisions |  |  | — |  |  |  | 2,288 |  |  |  | — |  |  |  | 2,288 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps, caps and floors |  |  | — |  |  |  | 48,677 |  |  |  | 236 |  |  |  | 48,913 |
Commodity swaps and options |  |  | — |  |  |  | 6,655 |  |  |  | — |  |  |  | 6,655 |
Foreign currency forward contracts |  |  | 590 |  |  |  | — |  |  |  | — |  |  |  | 590 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps, caps and floors |  |  | — |  |  |  | 55,075 |  |  |  | — |  |  |  | 55,075 |
Commodity swaps and options |  |  | — |  |  |  | 6,433 |  |  |  | — |  |  |  | 6,433 |
Foreign currency forward contracts |  |  | 567 |  |  |  | — |  |  |  | — |  |  |  | 567 |
|  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 3,057,921 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,057,921 |
Residential mortgage-backed securities |  |  | — |  |  |  | 2,518,003 |  |  |  | — |  |  |  | 2,518,003 |
States and political subdivisions |  |  | — |  |  |  | 591,483 |  |  |  | — |  |  |  | 591,483 |
Other |  |  | — |  |  |  | 35,892 |  |  |  | — |  |  |  | 35,892 |
Trading account securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  |  | 14,038 |  |  |  | — |  |  |  | — |  |  |  | 14,038 |
States and political subdivisions |  |  | — |  |  |  | 16,036 |  |  |  | — |  |  |  | 16,036 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps, caps and floors |  |  | — |  |  |  | 60,535 |  |  |  | 355 |  |  |  | 60,890 |
Commodity swaps and options |  |  | — |  |  |  | 3,867 |  |  |  | — |  |  |  | 3,867 |
Foreign currency forward contracts |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 3 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps, caps and floors |  |  | — |  |  |  | 72,557 |  |  |  | — |  |  |  | 72,557 |
Commodity swaps and options |  |  | — |  |  |  | 3,772 |  |  |  | — |  |  |  | 3,772 |
Impaired Loans Remeasured and Reported at Fair Value of Underlying Collateral | The following table presents impaired loans that were remeasured and reported at fair value through a specific valuation allowance allocation of the allowance for loan losses based upon the fair value of the underlying collateral during the reported periods.
|  | Six Months Ended June 30, 2013 |  |  | Six Months Ended June 30, 2012 |
|  | Level 2 |  |  | Level 3 |  |  | Level 2 |  |  | Level 3 |
Carrying value of impaired loans before allocations |  | $ | — |  |  | $ | — |  |  | $ | 11,078 |  |  | $ | — |
Specific valuation allowance allocations |  |  | — |  |  |  | — |  |  |  | (2,732 | ) |  |  | — |
Fair value |  | $ | — |  |  | $ | — |  |  | $ | 8,346 |  |  | $ | — |
Foreclosed Assets Remeasured and Reported at Fair Value | The following table presents foreclosed assets that were remeasured and reported at fair value during the reported periods:
|  | Six Months Ended June 30, |
|  | 2013 |  |  | 2012 |
Foreclosed assets remeasured at initial recognition: |  |  |  |  |  |  |  |
Carrying value of foreclosed assets prior to remeasurement |  | $ | 3,489 |  |  | $ | 5,856 |
Charge-offs recognized in the allowance for loan losses |  |  | (576 | ) |  |  | (1,159 | )
Fair value |  | $ | 2,913 |  |  | $ | 4,697 |
Foreclosed assets remeasured subsequent to initial recognition: |  |  |  |  |  |  |  |
Carrying value of foreclosed assets prior to remeasurement |  | $ | 3,852 |  |  | $ | 9,210 |
Write-downs included in other non-interest expense |  |  | (657 | ) |  |  | (1,321 | )
Fair value |  | $ | 3,195 |  |  | $ | 7,889 |
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments that are reported at amortized cost in the Corporation’s consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows:
|  | June 30, 2013 |  |  | December 31, 2012 |
|  | Carrying Amount |  |  | Estimated Fair Value |  |  | Carrying Amount |  |  | Estimated Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 2 inputs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2,901,355 |  |  | $ | 2,901,355 |  |  | $ | 3,524,979 |  |  | $ | 3,524,979 |
Securities held to maturity |  |  | 3,166,692 |  |  |  | 3,070,349 |  |  |  | 2,956,381 |  |  |  | 2,996,944 |
Cash surrender value of life insurance policies |  |  | 139,704 |  |  |  | 139,704 |  |  |  | 138,005 |  |  |  | 138,005 |
Accrued interest receivable |  |  | 95,334 |  |  |  | 95,334 |  |  |  | 82,529 |  |  |  | 82,529 |
Level 3 inputs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans, net |  |  | 9,139,143 |  |  |  | 9,262,790 |  |  |  | 9,119,395 |  |  |  | 9,212,159 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 2 inputs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 19,078,219 |  |  |  | 19,078,952 |  |  |  | 19,497,366 |  |  |  | 19,498,518 |
Federal funds purchased and repurchase agreements |  |  | 549,823 |  |  |  | 549,823 |  |  |  | 561,061 |  |  |  | 561,061 |
Junior subordinated deferrable interest debentures |  |  | 123,712 |  |  |  | 123,712 |  |  |  | 123,712 |  |  |  | 123,712 |
Subordinated notes payable and other borrowings |  |  | 100,000 |  |  |  | 90,185 |  |  |  | 100,007 |  |  |  | 89,596 |
Accrued interest payable |  |  | 1,551 |  |  |  | 1,551 |  |  |  | 1,804 |  |  |  | 1,804 |

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- Definition Discloses the carrying amount as of the balance sheet date of all assets obtained in full or partial satisfaction of a debt arrangement through foreclosure proceedings or defeasance; includes real and personal property; equity interests in corporations, partnerships, and joint ventures; and beneficial interests in trusts. + References No definition available. + Details
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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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