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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Measurements

Assets and liabilities measured at fair value on a recurring basis

The following table represents assets and liabilities reported on the consolidated balance sheets at their fair value on a recurring basis as of September 30, 2015 by level within the fair value measurement hierarchy:

					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
		September 30, 2015			Assets (Level 1)			Inputs (Level 2)			Inputs (Level 3)
Measured on a recurring basis:
Assets:
Available for sale securities
Residential mortgage-backed securities		$	4,197,674		$	—		$	4,175,914		$	21,760
States and political subdivisions		306,005			—			306,005			—
Other		29,104			29,104			—			—
		$	4,532,783		$	29,104		$	4,481,919		$	21,760

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, 2014 by level within the fair value measurement hierarchy:

					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
		December 31, 2014			Assets (Level 1)			Inputs (Level 2)			Inputs (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		29,315			29,315			—			—
		$	4,911,963		$	29,315		$	4,858,585		$	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		(2,453		)
Total unrealized losses included in:
Other comprehensive income		850
Impairment realized		(700		)
Balance at September 30, 2015		$	21,760

Assets measured at fair value on a non-recurring basis

The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended September 30, 2015 by level within the fair value measurement hierarchy:

					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
		September 30, 2015			Assets (Level 1)			Inputs (Level 2)			Inputs (Level 3)			During Period
Measured on a non-recurring basis:
Assets:
Impaired loans		$	15,207		$	—		$	—		$	15,207		$	(9,038	)
Other real estate owned		7,633			—			—			7,633			918

The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended December 31, 2014 by level within the fair value measurement hierarchy:

					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

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 5



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- 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.

+ 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 (c)



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258



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-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



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-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258

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- 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



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 1



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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