Fair Value (Tables)
 9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value on a recurring basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015, segregated by the level of valuation inputs within the fair value hierarchy used to measure fair value.

 

Recurring Fair Value Measurements                
September 30, 2016                
(in thousands)   Total    (Level 1)   (Level 2)    (Level 3)
Available-for-sale securities                
Obligations of U.S. Government sponsored entities    526,696    0     526,696    0 
Obligations of U.S. states and political subdivisions    84,681    0     84,681    0 
Mortgage-backed securities – residential, issued by:                
U.S. Government agencies    161,749    0     161,749    0 
U.S. Government sponsored entities    594,753    0     594,753    0 
Non-U.S. Government agencies or sponsored entities    126    0     126    0 
U.S. corporate debt securities    2,162    0     2,162    0 
Equity securities    944    0    0     944 
                 

 

Recurring Fair Value Measurements                        
December 31, 2015                        
(in thousands)   Total     (Level 1)     (Level 2)     (Level 3)  
Trading securities                                
Obligations of U.S. Government sponsored entities   $ 6,601     $ 0      $ 6,601      $ 0   
Mortgage-backed securities – residential U.S. Government sponsored entities     767       0        767        0   
Available-for-sale securities                                 
Obligations of U.S. Government sponsored entities     552,893       0        552,893        0   
Obligations of U.S. states and political subdivisions     84,726       0        84,726        0   
Mortgage-backed securities – residential, issued by:                                
U.S. Government agencies     94,678       0        94,678        0   
U.S. Government sponsored entities     650,097       0        650,097        0   
Non-U.S. Government agencies or sponsored entities     194       0        194        0   
U.S. corporate debt securities     2,162       0        2,162        0   
Equity securities     934       0        0        934   
                                 
Borrowings                                
Other borrowings     10,576       0        10,576        0   

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

Certain assets are measured at fair value on a nonrecurring basis.

 

Three months ended September 30, 2016

           

Fair value measurements at reporting
date using:

    

Gain (losses)
from fair
value changes

  
                                         
Assets:     As of
09/30/2016		       Quoted prices in
active markets for
identical assets
(Level 1)		       Significant other
observable inputs
(Level 2)		       Significant
unobservable inputs
(Level 3)		       Three months
ended
09/30/2016		  
Impaired Loans   $ 0     $ 0     $ 0     $ 0     $ (65 )
Other real estate owned     731       0       731       0       28  

 

 

Three months ended September 30, 2015

           

Fair value measurements at reporting
date using:

    

Gain (losses)
from fair
value changes

  
                                         
Assets:     As of
09/30/2015		       Quoted prices in
active markets for
identical assets
(Level 1)		       Significant other
observable inputs
(Level 2)		       Significant
unobservable inputs
(Level 3)		       Three months
ended
09/30/2015		  
Impaired Loans   $ 1,362     $ 0     $ 1,362     $ 0     $ 0  
Other real estate owned     1,049       0       1,049       0       (30 )

 

 

Nine months ended September 30, 2016

           

Fair value measurements at reporting
date using:

    

Gain (losses)
from fair
value changes

  
                                         
Assets:     As of
09/30/2016		       Quoted prices in
active markets for
identical assets
(Level 1)		       Significant other
observable inputs
(Level 2)		       Significant
unobservable inputs
(Level 3)		       Nine months
ended
09/30/2016		  
Impaired Loans   $ 2,747     $ 0     $ 2,747     $ 0     $ (234 )
Other real estate owned     1,008       0       1,008       0       24

 

 

Nine months ended September 30, 2015

           

Fair value measurements at reporting
date using:

    

Gain (losses)
from fair
value changes

  
                                         
Assets:     As of
09/30/2015		       Quoted prices in
active markets for
identical assets
(Level 1)		       Significant other
observable inputs
(Level 2)		       Significant
unobservable inputs
(Level 3)		       Nine months
ended
09/30/2015		  
Impaired Loans   $ 4,307     $ 0     $ 4,307     $ 0     $ (80 )
Other real estate owned     2,629       0       2,629       0       786  

 
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 September 30, 2016 and December 31, 2015. The carrying amounts shown in the table are included in the Consolidated Statements of Condition under the indicated captions.

 

 Estimated Fair Value of Financial Instruments        
 September 30, 2016                              
 (in thousands)   Carrying
Amount		     Fair Value     (Level 1)     (Level 2)     (Level 3)  
 Financial Assets:                                        
                                         
   Cash and cash equivalents   $ 179,586     $ 179,586     $ 179,586     $ 0     $ 0  
   Securities - held to maturity     144,650       151,626       0       151,626       0  
   FHLB and other stock     34,246       34,246       0       34,246       0  
   Accrued interest receivable     17,360       17,360       0       17,360       0  
   Loans/leases, net1     4,055,435       4,079,992       0       2,747       4,077,245  
                                         
 Financial Liabilities:                                        
                                         
   Time deposits   $ 877,427     $ 877,452     $ 0     $ 877,452     $ 0  
   Other deposits     3,812,873       3,812,873       0       3,812,873       0  
   Fed funds purchased and securities sold                                        
     under agreements to repurchase     77,218       77,461       0       77,461       0  
   Other borrowings     671,000       672,273       0       672,273       0  
   Trust preferred debentures     37,638       44,545       0       44,545       0  
   Accrued interest payable     1,862       1,862       0       1,862       0  

 

 Estimated Fair Value of Financial Instruments
 December 31, 2015                              
 (in thousands)   Carrying
Amount		     Fair  Value     (Level 1)     (Level 2)     (Level 3)  
 Financial Assets:                                        
                                         
   Cash and cash equivalents   $ 58,257     $ 58,257     $ 58,257     $ 0     $ 0  
   Securities - held to maturity     146,071       146,686       0       146,686       0  
   FHLB and other stock     29,969       29,969       0       29,969       0  
   Accrued interest receivable     16,433       16,433       0       16,433       0  
   Loans/leases, net1     3,740,038       3,739,695       0       5,730       3,733,965  
                                         
 Financial Liabilities:                                        
                                         
   Time deposits   $ 855,133     $ 853,839     $ 0     $ 853,839     $ 0  
   Other deposits     3,540,173       3,540,173       0       3,540,173       0  
   Fed funds purchased and securities                                        
   sold under agreements to repurchase     136,513       138,161       0       138,161       0  
   Other borrowings     525,709       527,041       0       527,041       0  
   Trust preferred debentures     37,509       45,190       0       45,190       0  
   Accrued interest payable     1,973       1,973       0       1,973       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.