Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Assets and liabilities measured at fair value on a recurring basis


					Fair Value Measurements at Reporting Date Using
					(Dollars in Thousands)
		Assets/Liabilities Measured at Fair Value			Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
		June 30, 2014			(Level 1)				(Level 2)				(Level 3)

Measured on a recurring basis:
Assets:
Available for sale securities
Residential mortgage-backed securities		$		4,927,862	$		—		$		4,901,866		$		25,996
States and political subdivisions		268,095			—				268,095				—
Other		29,086			29,086				—				—
Total		$		5,225,043	$		29,086		$		5,169,961		$		25,996
						Fair Value Measurements at Reporting Date Using
						(Dollars 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, 2013					(Level 1)				(Level 2)				(Level 3)

Measured on a recurring basis:
Assets:
Available for sale securities
Residential mortgage-backed securities	$		5,027,701			$		—		$		4,999,849		$		27,852
States and political subdivisions	248,410					—				248,410				—
Other	28,468					28,468				—				—
Total	$		5,304,579			$		28,468		$		5,248,259		$		27,852

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

Balance at December 31, 2013	$	27,852
Principal paydowns	(1,962		)
Total unrealized gains (losses) included in:
Other comprehensive income	386
Impairment realized in earnings	(279		)

Balance at June 30, 2014	$	25,996

Financial instruments measured at fair value on a non-recurring basis

						Fair Value Measurements at Reporting Date Using
						(Dollars in Thousands)
		Assets/Liabilities Measured at Fair Value				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs				Net Provision During Six Month
		June 30, 2014				(Level 1)				(Level 2)				(Level 3)				Period

Measured on a non-recurring basis:
Assets:
Impaired loans		$		24,223		$		—		$		—		$		24,223		$		4,363
Other real estate owned		6,352				—				—				6,352				238
					Fair Value Measurements at Reporting Date Using
					(Dollars in Thousands)
	Assets/Liabilities Measured at Fair Value December 31,				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs				Net Provision During Twelve Month
	2013				(Level 1)				(Level 2)				(Level 3)				Period

Measured on a non-recurring basis:
Assets:
Impaired loans	$		28,391		$		—		$		—		$		28,391		$		13,229
Other real estate owned	16,329				—				—				16,329				1,204

- 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 (loss), 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, issues, 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.

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