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Fair Value (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis 1 [Table Text Block]

Assets and liabilities measured at fair value on a recurring and non-recurring basis, are summarized below:

	December 31, 2016
	Fair Value Measurements
	Level 1			Level 2			Level 3			Total
	(In thousands)
Recurring fair value measurements:
Investment securities available-for-sale	$	-		$	751,484		$	-		$	751,484
Trading securities		-			347			-			347
Money market investments		5,606			-			-			5,606
Derivative assets		-			1,330			-			1,330
Servicing assets		-			-			9,858			9,858
Derivative liabilities		-			(2,437)			-			(2,437)
	$	5,606		$	750,724		$	9,858		$	766,188
Non-recurring fair value measurements:
Impaired commercial loans	$	-		$	-		$	54,289		$	54,289
Foreclosed real estate		-			-			47,520			47,520
Other repossessed assets		-			-			3,224			3,224
	$	-		$	-		$	105,033		$	105,033

	December 31, 2015
	Fair Value Measurements
	Level 1			Level 2			Level 3			Total
	(In thousands)
Recurring fair value measurements:
Investment securities available-for-sale	$	-		$	974,609		$	-		$	974,609
Trading securities		-			288			-			288
Money market investments		4,699			-			-			4,699
Derivative assets		-			1,855			1,170			3,025
Servicing assets		-			-			7,455			7,455
Derivative liabilities		-			(6,162)			(1,095)			(7,257)
	$	4,699		$	970,590		$	7,530		$	982,819
Non-recurring fair value measurements:
Impaired commercial loans	$	-		$	-		$	235,767		$	235,767
Foreclosed real estate		-			-			58,176			58,176
Other repossessed assets		-			-			6,226			6,226
	$	-		$	-		$	300,169		$	300,169

The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2016, 2015 and 2014:

	Year Ended December 31, 2016
				Derivative						Derivative
	Other			asset						liability
	debt			(S&P						(S&P
	securities			Purchased				Servicing		Embedded
Level 3 Instruments Only	available-for-sale			Options)				assets		Options)			Total
Balance at beginning of period	$	-		$	1,171		$	7,455		$	(1,095)		$	7,531
Gains (losses) included in earnings		-			(1,171)			-			1,067			(104)
New instruments acquired		-			-			2,616			-			2,616
Principal repayments		-			-			(489)			-			(489)
Amortization		-			-			-			28			28
Changes in fair value of servicing assets		-			-			276			-			276
Balance at end of period	$	-		$	-		$	9,858		$	-		$	9,858
	Year Ended December 31, 2015
				Derivative							Derivative
	Other			asset							liability
	debt			(S&P							(S&P
	securities			Purchased				Servicing			Embedded
Level 3 Instruments Only	available-for-sale			Options)				assets			Options)			Total
Balance at beginning of period	$	-		$	5,555		$	13,992		$	(5,477)		$	14,070
Gains (losses) included in earnings		-			(4,384)			-			4,197			(187)
Sale of mortgage servicing rights		-			-			(5,927)			-			(5,927)
New instruments acquired		-			-			2,620			-			2,620
Principal repayments		-			-			(1,017)			-			(1,017)
Amortization		-			-			-			185			185
Changes in fair value related to price of MSR held-for-sale		-			-			(2,939)			-			(2,939)
Changes in fair value of servicing assets		-			-			726			-			726
Balance at end of period	$	-		$	1,171		$	7,455		$	(1,095)		$	7,531
	Year Ended December 31, 2014
				Derivative							Derivative
	Other			asset							liability
	debt			(S&P							(S&P
	securities			Purchased				Servicing			Embedded
Level 3 Instruments Only	available-for-sale			Options)				assets			Options)			Total
Balance at beginning of period	$	19,680		$	16,430		$	13,801		$	(15,736)		$	34,175
Gains (losses) included in earnings		-			(10,875)			-			9,659			(1,216)
Changes in fair value of investment securities available for sale included in other comprehensive income		320			-			-			-			320
New instruments acquired		-			-			2,149			-			2,149
Principal repayments		(20,000)			-			(1,072)			-			(21,072)
Amortization		-			-			-			600			600
Changes in fair value of servicing assets		-			-			(886)			-			(886)
Balance at end of period	$	-		$	5,555		$	13,992		$	(5,477)		$	14,070

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table Text Block]

The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at

		December 31, 2016
		Fair Value			Valuation Technique		Unobservable Input		Range
		(In thousands)
Servicing assets		$	9,858		Cash flow valuation		Constant prepayment rate		4.24% - 9.14%
							Discount rate		10.00% - 12.00%
Collateral dependant impaired loans		$	20,610		Fair value of property or collateral		Appraised value less disposition costs		22.20% - 36.20%
Other non-collateral dependant impaired loans		$	33,679		Cash flow valuation		Discount rate		3.25% - 10.50%
Foreclosed real estate		$	47,520		Fair value of property or collateral		Appraised value less disposition costs		22.20% - 36.20%
Other repossessed assets		$	3,224		Fair value of property or collateral		Appraised value less disposition costs		22.20% - 36.20%

Fair Value By Balance Sheet Grouping [Text Block]

The estimated fair value and carrying value of the Company’s financial instruments at December 31, 2016 and 2015 is as follows:

	December 31,						December 31,
	2016						2015
	Fair			Carrying			Fair			Carrying
	Value			Value			Value			Value
	(In thousands)
Level 1
Financial Assets:
Cash and cash equivalents	$	510,439		$	510,439		$	536,709		$	536,709
Restricted cash	$	3,030		$	3,030		$	3,349		$	3,349
Level 2
Financial Assets:
Trading securities	$	347		$	347		$	288		$	288
Investment securities available-for-sale	$	751,484		$	751,484		$	974,609		$	974,609
Investment securities held-to-maturity	$	592,763		$	599,884		$	614,679		$	620,189
Federal Home Loan Bank (FHLB) stock	$	10,793		$	10,793		$	20,783		$	20,783
Other investments	$	3		$	3		$	3		$	3
Derivative assets	$	1,330		$	1,330		$	1,855		$	1,855
Financial Liabilities:
Derivative liabilities	$	2,437		$	2,437		$	6,162		$	6,162
Level 3
Financial Assets:
Total loans (including loans held-for-sale)	$	3,917,340		$	4,147,692		$	4,101,219		$	4,434,213
Derivative assets	$	-		$	-		$	1,170		$	1,170
FDIC indemnification asset	$	8,669		$	14,411		$	17,786		$	22,599
Accrued interest receivable	$	20,227		$	20,227		$	20,637		$	20,637
Servicing assets	$	9,858		$	9,858		$	7,455		$	7,455
Accounts receivable and other assets	$	46,518		$	46,518		$	42,786		$	42,786
Financial Liabilities:
Deposits	$	4,644,629		$	4,664,487		$	4,705,878		$	4,716,656
Securities sold under agreements to repurchase	$	651,898		$	653,756		$	955,859		$	934,691
Advances from FHLB	$	106,422		$	105,454		$	335,812		$	332,476
Other borrowings	$	61		$	61		$	2,593		$	1,734
Subordinated capital notes	$	30,230		$	36,083		$	94,940		$	102,633
Accrued expenses and other liabilities	$	95,370		$	95,370		$	92,043		$	92,043
Derivative liabilities embedded in deposits	$	-		$	-		$	1,095		$	1,095

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Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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