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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2011

Fair Value Measurements

Assets and liabilities measured at fair value on a recurring basis

					Fair Value Measurements at Reporting Date Using
					(in thousands)
		Assets/Liabilities Measured at Fair Value September 30, 2011			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
													Measured on a recurring basis:
Assets:
Residential mortgage-backed securities
Available-for-sale		$	4,749,581		$	—		$	4,709,104		$	40,477
States and political subdivisions
Available-for-sale		224,515			—			224,515			—
Other
Available-for-sale		14,817			14,817			—			—

The following table represents assets and liabilities reported on the consolidated balance sheets at their fair value on a recurring basis as of December 31, 2010 by level within the fair value measurement hierarchy:

					Fair Value Measurements at Reporting Date Using
					(in thousands)
		Assets/Liabilities Measured at Fair Value			Quoted Prices in Active Markets for Identical Assets			Significant Other Observable Inputs			Significant Unobservable Inputs
		December 31, 2010			(Level 1)			(Level 2)			(Level 3)
Measured on a recurring basis:
Assets:
U.S. Treasury securities
Available-for-sale		$	1,327		$	—		$	1,327		$	—
Residential mortgage-backed securities
Available-for-sale		4,924,468			—			4,878,440			46,028
States and political subdivisions
Available-for-sale		145,997			—			145,997			—
Other
Available-for-sale		14,665			14,665			—			—

Reconciliation of activity for mortgage-backed securities on a net basis

Balance at December 31, 2010		$	46,028
Principal paydowns		(4,345		)
Total unrealized gains (losses) included in:
Other comprehensive income		(505		)
Net income		(701		)
Balance at September 30, 2011		$	40,477

Assets measured at fair value on a non-recurring basis

					Fair Value Measurements at Reporting Date
					Using
					(in thousands)
		Assets/Liabilities Measured at Fair Value			Quoted Prices in Active			Significant
		Nine months ended September 30, 2011			Markets for Identical Assets (Level 1)			Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Provision During Period
Measured on a non-recurring basis:
Assets:
Impaired loans		$	60,588		$	—		$	—		$	60,588		$	7,238
Other real estate owned		33,122			—			—			33,122			7,998

The following table represents assets measured at fair value on a non-recurring basis as of and for the year ended December 31, 2010 by level within the fair value measurement hierarchy:

					Fair Value Measurements at Reporting Date
					Using
					(in thousands)
		Assets/Liabilities Measured at Fair Value			Quoted Prices in Active Markets for			Significant Other			Significant
		Year ended December 31, 2010			Identical Assets (Level 1)			Observable Inputs (Level 2)			Unobservable Inputs (Level 3)			Provision During Period
Measured on a non-recurring basis:
Assets:
Impaired loans		$	24,034		$	—		$	—		$	24,034		$	(114	)
Other real estate owned		52,319			—			—			52,319			719

X

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

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X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19279-110258



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Topic 820

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph

-Name Accounting Standards Codification

-Paragraph 1

-Section 50

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258

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