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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2013
Fair Value Measurements [Abstract] |
Fair value of financial assets and liabilities measured on recurring basis | The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2013 and 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:
|  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value |
|  | (Dollars in thousands) |
March 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  | $ | 20,304 |  |  | $ | 518,963 |  |  | $ | 10,124 |  |  | $ | 549,391 |
Derivative assets |  |  | — |  |  |  | 3,424 |  |  |  | — |  |  |  | 3,424 |
Derivative liabilities |  |  | — |  |  |  | 1,658 |  |  |  | — |  |  |  | 1,658 |
Loans held for sale |  |  | — |  |  |  | 10,287 |  |  |  | — |  |  |  | 10,287 |
Mortgage servicing intangibles |  |  | — |  |  |  | — |  |  |  | 709 |  |  |  | 709 |
March 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  | $ | — |  |  | $ | 543,069 |  |  | $ | 9,373 |  |  | $ | 552,442 |
Derivative assets |  |  | — |  |  |  | 10,578 |  |  |  | — |  |  |  | 10,578 |
Derivative liabilities |  |  | — |  |  |  | 8,576 |  |  |  | — |  |  |  | 8,576 |
Loans held for sale |  |  | — |  |  |  | 15,585 |  |  |  | — |  |  |  | 15,585 |
Mortgage servicing intangibles |  |  | — |  |  |  | — |  |  |  | 1,004 |  |  |  | 1,004 |
Changes in level 3 assets measured at estimated fair value on a recurring basis | The changes in Level 3 assets measured at estimated fair value on a recurring basis during the three months ended March 31, 2013 and 2012 were as follows:
|  | Three Months Ended March 31, |
|  | 2013 |  |  | 2012 |
|  | (Dollars in thousands) |
Balance at the beginning of the year |  | $ | 10,779 |  |  | $ | 13,225 |
Purchases, issuances and settlements |  |  | 116 |  |  |  | 173 |
Sales |  |  | (15 | ) |  |  | (4,928 | )
(Losses) gains included in earnings |  |  | (30 | ) |  |  | 3,973 |
Total unrealized losses |  |  | (17 | ) |  |  | (2,066 | )
Balance at the end of the period |  | $ | 10,833 |  |  | $ | 10,377 |
Assets measured at fair value on a nonrecurring basis | The following table summarizes assets measured at fair value on a nonrecurring basis and the related gains or losses recognized during the period:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Fair Value |  |  | Gains (Losses) |
|  | (Dollars in thousands) |
Three Months Ended March 31, 2013 |  |  |  |
Impaired loans (less specific allowance) |  |  | — |  |  |  | — |  |  | $ | 40,852 |  |  | $ | 40,852 |  |  | $ | — |
Foreclosed assets |  |  | — |  |  |  | — |  |  | $ | 326 |  |  | $ | 326 |  |  | $ | 13 |
Other real estate owned |  |  | — |  |  |  | — |  |  | $ | 9,098 |  |  | $ | 9,098 |  |  | $ | (87 | )
Three Months Ended March 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans (less specific allowance) |  |  | — |  |  |  | — |  |  | $ | 46,243 |  |  | $ | 46,243 |  |  | $ | — |
Foreclosed assets |  |  | — |  |  |  | — |  |  | $ | 403 |  |  | $ | 403 |  |  | $ | (1 | )
Other real estate owned |  |  | — |  |  |  | — |  |  | $ | 12,005 |  |  | $ | 12,005 |  |  | $ | (154 | )
Estimated fair values of company's financial instruments | The estimated fair values of the Company’s financial instruments are as follows:
|  | March 31, |
|  | 2013 |  |  | 2012 |
|  | Carrying Amount |  |  | Fair Value |  |  | Carrying Amount |  |  | Fair Value |
|  | (Dollars in thousands) |
FINANCIAL ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,716,052 |  |  | $ | 1,716,052 |  |  | $ | 1,836,954 |  |  | $ | 1,836,954 |
Securities held for investment |  |  | 16,099 |  |  |  | 16,317 |  |  |  | 21,359 |  |  |  | 21,788 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans (net of unearned interest) |  |  | 3,219,967 |  |  |  |  |  |  |  | 3,049,376 |  |  |  |  |
Allowance for loan losses |  |  | (38,664 | ) |  |  |  |  |  |  | (37,633 | ) |  |  |  |
Loans, net |  |  | 3,181,303 |  |  |  | 3,240,479 |  |  |  | 3,011,743 |  |  |  | 3,047,715 |
FINANCIAL LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 5,174,512 |  |  |  | 5,200,273 |  |  |  | 5,152,856 |  |  |  | 5,186,324 |
Short-term borrowings |  |  | 4,891 |  |  |  | 4,891 |  |  |  | 7,323 |  |  |  | 7,323 |
Long-term borrowings |  |  | 11,040 |  |  |  | 11,010 |  |  |  | 13,403 |  |  |  | 13,440 |
Junior subordinated debentures |  |  | 26,804 |  |  |  | 31,093 |  |  |  | 36,083 |  |  |  | 39,289 |
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan commitments |  |  |  |  |  |  | 1,556 |  |  |  |  |  |  |  | 1,197 |
Letters of credit |  |  |  |  |  |  | 469 |  |  |  |  |  |  |  | 463 |

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- 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 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 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19296-110258 + Details
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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=7578670&loc=d3e19207-110258 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=7578670&loc=d3e19279-110258 Reference 3: 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. + Details
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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a -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 Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f -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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d -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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) -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 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d -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 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -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 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 + Details
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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=7578670&loc=d3e19190-110258 + Details
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