Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

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
	March 31, 2015		(Level 1)		(Level 2)		(Level 3)

Measured on a recurring basis:
Assets:
Available for sale securities
Residential mortgage-backed securities	$	4,660,607	$	—	$	4,637,185	$	23,422
States and political subdivisions	277,754		—		277,754		—
Other	49,819		29,819		20,000		—
	$	4,988,180	$	29,819	$	4,934,939	$	23,422

			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, 2014		(Level 1)		(Level 2)		(Level 3)

Measured on a recurring basis:
Assets:
Available for sale securities
Residential mortgage-backed securities	$	4,600,372	$	—	$	4,576,309	$	24,063
States and political subdivisions	282,276		—		282,276		—
Other	49,315		29,315		20,000		—
	$	4,931,963	$	29,315	$	4,878,585	$	24,063

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

The following table presents a reconciliation of activity for such mortgage-backed securities on a net basis (Dollars in Thousands):

Balance at December 31, 2014	$	24,063
Principal paydowns	(763		)
Total unrealized losses included in:
Other comprehensive income	349
Impairment realized	(227		)

Balance at March 31, 2015	$	23,422

Assets 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 (Credit) During
	March 31, 2015		(Level 1)		(Level 2)		(Level 3)		Period

Measured on a non-recurring basis:
Assets:
Impaired loans	$	28,630	$	—	$	—	$	28,630	$	1,503
Other real estate owned	155		—		—		155		17

			Fair Value Measurements at Reporting Date Using
			(Dollars in Thousands)
	Assets/Liabilities Measured at Fair Value		Quoted Prices in Active Markets for Identical		Significant Other Observable		Significant Unobservable		Net (Credit) Provision
	December 31, 2014		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		During the Period

Measured on a non-recurring basis:
Assets:
Impaired loans	$	29,501	$	—	$	—	$	29,501	$	(1,557	)
Other real estate owned	6,112		—		—		6,112		597

- 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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