Assets and liabilities measured at fair value on a recurring basis |
The following table represents financial instruments reported on the consolidated statements of condition at their fair value as of December 31, 2016 by level within the fair value measurement hierarchy.
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Fair Value Measurements at
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Reporting Date Using
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(in Thousands)
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Quoted
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Prices in
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Active
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Significant
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Assets/Liabilities
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Markets for
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Other
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Significant
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Measured at
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Identical
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Observable
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Unobservable
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Fair Value
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Assets
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Inputs
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Inputs
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December 31, 2016
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(Level 1)
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(Level 2)
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(Level 3)
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Measured on a recurring basis:
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Assets:
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Available for sale securities
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Residential mortgage-backed securities
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$
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3,894,470
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$
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—
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$
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3,876,865
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$
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17,605
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States and political subdivisions
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254,972
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—
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254,972
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—
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Equity securities
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27,907
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27,907
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—
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—
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$
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4,177,349
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$
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27,907
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$
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4,131,837
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$
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17,605
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The following table represents financial instruments reported on the consolidated balance sheets at their fair value as of December 31, 2015 by level within the fair value measurement hierarchy.
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Fair Value Measurements at
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Reporting Date Using
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(in Thousands)
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Quoted
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Prices in
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Active
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Significant
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Assets/Liabilities
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Markets for
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Other
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Significant
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Measured at
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Identical
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Observable
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Unobservable
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Fair Value
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Assets
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Inputs
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Inputs
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December 31, 2015
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(Level 1)
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(Level 2)
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(Level 3)
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Measured on a recurring basis:
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Assets:
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Available for sale securities
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Residential mortgage - backed securities
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$
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3,893,210
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$
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—
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$
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3,871,981
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$
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21,229
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States and political subdivisions
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277,705
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—
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277,705
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—
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Equity securities
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28,457
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28,457
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—
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—
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$
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4,199,372
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$
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28,457
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$
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4,149,686
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$
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21,229
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Reconciliation of activity for mortgage-backed securities on a net basis |
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Balance at December 31, 2015
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$
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21,229
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Principal paydowns
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(4,417)
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Total unrealized gains (losses) included in:
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Other comprehensive loss
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1,147
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Impairment realized in earnings
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(354)
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Balance at December 31, 2016
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$
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17,605
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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 December 31, 2016 by level within the fair value measurement hierarchy:
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Fair Value Measurements at Reporting
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Date Using
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(in thousands)
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Quoted
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Assets/Liabilities
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Prices in
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Measured at
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Active
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Significant
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Fair Value
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Markets for
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Other
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Significant
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Net Provision
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Year ended
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Identical
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Observable
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Unobservable
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(Credit)
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December 31,
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Assets
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Inputs
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Inputs
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During
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2016
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(Level 1)
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(Level 2)
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(Level 3)
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Period
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Measured on a non-recurring basis:
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Assets:
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Impaired loans
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$
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38,794
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$
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—
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$
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—
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$
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38,794
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$
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19,699
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Other real estate owned
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9,445
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—
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—
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9,445
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2,351
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The following table represents financial instruments measured at fair value on a non‑recurring basis as of and for the year ended December 31, 2015 by level within the fair value measurement hierarchy:
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Fair Value Measurements at Reporting
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Date Using
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(in thousands)
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Quoted
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Assets/Liabilities
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Prices in
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Measured at
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Active
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Significant
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Fair Value
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Markets
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Other
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Significant
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Net (Credit)
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Year ended
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for Identical
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Observable
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Unobservable
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Provision
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December 31,
|
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Assets
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Inputs
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Inputs
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During
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2015
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(Level 1)
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(Level 2)
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(Level 3)
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Period
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Measured on a non-recurring basis:
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Assets:
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Impaired loans
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$
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18,033
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$
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—
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$
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—
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$
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18,033
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$
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(8,589)
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Other real estate owned
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12,705
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—
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—
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12,705
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1,023
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