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Fair Value (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Recurring Fair Value Measurements
December 31, 2017
(in thousands)	Total			(Level 1)			(Level 2)			(Level 3)
Available-for-sale securities
Obligations of U.S. Government sponsored entities	504,193			0			504,193			0
Obligations of U.S. states and political subdivisions	91,519			0			91,519			0
Mortgage-backed securities – residential, issued by:
U.S. Government agencies	137,735			0			137,735			0
U.S. Government sponsored entities	656,178			0			656,178			0
Non-U.S. Government agencies or sponsored entities	75			0			75			0
U.S. corporate debt securities	2,162			0			2,162			0
Equity securities	913			0			0			913

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017, segregated by the level of valuation inputs within the fair value hierarchy used to measure fair value.

Recurring Fair Value Measurements
March 31, 2018
(in thousands)	Total				(Level 1)				(Level 2)				(Level 3)
Available-for-sale securities
Obligations of U.S. Government sponsored entities	$	489,847			$	0			$	489,847			$	0
Obligations of U.S. states and political subdivisions	90,348				0				90,348				0
Mortgage-backed securities – residential, issued by:
U.S. Government agencies	129,680				0				129,680				0
U.S. Government sponsored entities	658,760				0				658,760				0
Non-U.S. Government agencies or sponsored entities	64				0				64				0
U.S. corporate debt securities	2,175				0				2,175				0

Schedule of assets and liabilities measured at fair value on a non recurring basis

March 31, 2018
					Fair value measurements at reporting date using:												Gain (losses) from fair value changes
Assets:	As of 03/31/2018				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Three months ended 03/31/2018
Impaired loans	$	5,079			$	0			$	5,079			$	0			$	(123	)
Other real estate owned	0				0				0				0				0

March 31, 2017
					Fair value measurements at reporting date using:												Gain (losses) from fair value changes
Assets:	As of 03/31/2017				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Three months ended 03/31/2017
Impaired loans	$	2,671			$	0			$	2,671			$	0			$	(332	)
Other real estate owned	2,520				0				2,520				0				(70		)

Schedule of carrying amount and fair value of financial instruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at March 31, 2018 and December 31, 2017. The carrying amounts shown in the table are included in the Consolidated Statements of Condition under the indicated captions.

The fair value estimates, methods and assumptions set forth below for the Company’s financial instruments, including those financial instruments carried at cost, are made solely to comply with disclosures required by generally accepted accounting principles in the United States and should be read in conjunction with the financial statements and notes included in this Report.

Estimated Fair Value of Financial Instruments
March 31, 2018
(in thousands)	Carrying Amount				Fair Value				(Level 1)				(Level 2)				(Level 3)
Financial Assets:
Cash and cash equivalents	$	68,102			$	68,102			$	68,102			$	0			$	0
Securities - held to maturity	139,131				137,843				0				137,843				0
FHLB and other stock	47,020				47,020				0				47,020				0
Accrued interest receivable	20,855				20,855				0				20,855				0
Loans/leases, net1	4,664,634				4,544,412				0				5,079				4,539,333
Financial Liabilities:
Time deposits	$	685,599			$	679,710			$	0			$	679,710			$	0
Other deposits	4,244,304				4,244,304				0				4,244,304				0
Fed funds purchased and securities sold
under agreements to repurchase	69,130				69,130				0				69,130				0
Other borrowings	995,074				991,386				0				991,386				0
Trust preferred debentures	16,734				21,912				0				21,912				0
Accrued interest payable	1,961				1,961				0				1,961				0

Estimated Fair Value of Financial Instruments
December 31, 2017
(in thousands)	Carrying Amount				Fair  Value				(Level 1)				(Level 2)				(Level 3)
Financial Assets:
Cash and cash equivalents	$	84,303			$	84,303			$	84,303			$	0			$	0
Securities - held to maturity	139,216				140,315				0				140,315				0
FHLB and other stock	50,498				50,498				0				50,498				0
Accrued interest receivable	20,122				20,122				0				20,122				0
Loans/leases, net1	4,632,288				4,555,720				0				4,617				4,551,103
Financial Liabilities:
Time deposits	$	748,250			$	744,310			$	0			$	744,310			$	0
Other deposits	4,089,557				4,089,557				0				4,089,557				0
Fed funds purchased and securities
sold under agreements to repurchase	75,177				75,177				0				75,177				0
Other borrowings	1,071,742				1,069,609				0				1,069,609				0
Trust preferred debentures	16,691				22,012				0				22,012				0
Accrued interest payable	2,054				2,054				0				2,054				0

1 Lease receivables, although excluded from the scope of ASC Topic 825, are included in the estimated fair value amounts at their carrying value.

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

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 2
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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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