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Fair Value Accounting and Measurement (Tables)

3 Months Ended

Mar. 31, 2016

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 March 31, 2016 and December 31, 2015 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
March 31, 2016		(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations		$	1,330,100			$	—			$	1,330,100			$	—
State and municipal debt securities		491,387				—				491,387				—
U.S. government agency and government-sponsored enterprise securities		358,941				—				358,941				—
U.S. government securities		547				547				—				—
Other securities		5,191				—				5,191				—
Total securities available for sale		$	2,186,166			$	547			$	2,185,619			$	—
Other assets (Interest rate contracts)		$	18,641			$	—			$	18,641			$	—
Liabilities
Other liabilities (Interest rate contracts)		$	18,689			$	—			$	18,689			$	—

		Fair value				Fair Value Measurements at Reporting Date Using
						Level 1				Level 2				Level 3
December 31, 2015		(in thousands)
Assets
Securities available for sale:
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations		$	1,286,489			$	—			$	1,286,489			$	—
State and municipal debt securities		492,169				—				492,169				—
U.S. government agency and government-sponsored enterprise securities		353,782				—				353,782				—
U.S. government securities		20,137				20,137				—				—
Other securities		5,117				—				5,117				—
Total securities available for sale		$	2,157,694			$	20,137			$	2,137,557			$	—
Other assets (Interest rate contracts)		$	12,438			$	—			$	12,438			$	—
Liabilities
Other liabilities (Interest rate contracts)		$	12,478			$	—			$	12,478			$	—

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 March 31, 2016				Fair Value Measurements at Reporting Date Using												Losses During the Three Months Ended March 31, 2016
						Level 1				Level 2				Level 3
		(in thousands)
Impaired loans		$	10,681			$	—			$	—			$	10,681			$	2,676
OREO		2,553				—				—				2,553				137
		$	13,234			$	—			$	—			$	13,234			$	2,813

		Fair value at March 31, 2015				Fair Value Measurements at Reporting Date Using												Losses During the Three Months Ended March 31, 2015
						Level 1				Level 2				Level 3
		(in thousands)
OREO		$	1,429			$	—			$	—			$	1,429			$	197
		$	1,429			$	—			$	—			$	1,429			$	197

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 March 31, 2016 and December 31, 2015:

		March 31, 2016
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
		(in thousands)
Assets
Cash and due from banks		$	150,683			$	150,683			$	150,683			$	—			$	—
Interest-earning deposits with banks		38,248				38,248				38,248				—				—
Securities available for sale		2,186,166				2,186,166				547				2,185,619				—
FHLB stock		10,241				10,241				—				10,241				—
Loans held for sale		3,681				3,681				—				3,681				—
Loans		5,808,019				5,889,840				—				—				5,889,840
FDIC loss-sharing asset		5,954				1,613				—				—				1,613
Interest rate contracts		18,641				18,641				—				18,641				—
Liabilities
Deposits		$	7,596,949			$	7,593,830			$	7,162,893			$	430,937			$	—
FHLB Advances		6,521				7,459				—				7,459				—
Repurchase agreements		73,839				74,353				—				74,353				—
Interest rate contracts		18,689				18,689				—				18,689				—

		December 31, 2015
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
		(in thousands)
Assets
Cash and due from banks		$	166,929			$	166,929			$	166,929			$	—			$	—
Interest-earning deposits with banks		8,373				8,373				8,373				—				—
Securities available for sale		2,157,694				2,157,694				20,137				2,137,557				—
FHLB stock		12,722				12,722				—				12,722				—
Loans held for sale		4,509				4,509				—				4,509				—
Loans		5,746,855				5,752,423				—				—				5,752,423
FDIC loss-sharing asset		6,568				921				—				—				921
Interest rate contracts		12,438				12,438				—				12,438				—
Liabilities
Deposits		$	7,438,829			$	7,434,787			$	6,979,924			$	454,863			$	—
FHLB Advances		68,531				69,176				—				69,176				—
Repurchase agreements		99,699				100,346				—				100,346				—
Interest rate contracts		12,478				12,478				—				12,478				—

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 March 31, 2016				Valuation Technique		Unobservable Input		Range (Weighted Average) (1)
		(dollars in thousands)
Impaired loans		$	10,681			Fair Market Value of Collateral		Adjustment to Stated Value		0% - 7% (6%)
OREO		2,553				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 values or stated values during the current period.

		Fair value at March 31, 2015				Valuation Technique		Unobservable Input		Range (Weighted Average) (1)
		(dollars in thousands)
OREO		$	1,429			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 OREO because there were no adjustments made to the appraisal value during the current period.

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