International Bancshares (IBOC) 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information
Entity Registrant Name	INTERNATIONAL BANCSHARES CORP
Entity Central Index Key	315,709
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		66,470,663
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Consolidated Statements of Cond

Consolidated Statements of Condition - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 260,392	$ 255,146
Investment securities:
Held-to-maturity (Market value of $2,400 on June 30, 2015 and $2,400 on December 31, 2014)	2,400	2,400
Available-for-sale (Amortized cost of $4,660,311 on June 30, 2015 and $4,894,428 on December 31, 2014)	4,673,472	4,911,963
Total investment securities	4,675,872	4,914,363
Loans	5,774,462	5,679,245
Less allowance for probable loan losses	(60,538)	(64,828)
Net loans	5,713,924	5,614,417
Bank premises and equipment, net	525,100	526,423
Accrued interest receivable	31,342	31,461
Other investments	457,518	440,670
Identified intangible assets, net	517	797
Goodwill	282,532	282,532
Other assets	126,932	130,711
Total assets	12,074,129	12,196,520
Deposits:
Demand - non-interest bearing	3,005,214	2,930,253
Savings and interest bearing demand	3,015,339	3,025,680
Time	2,443,281	2,482,692
Total deposits	8,463,834	8,438,625
Securities sold under repurchase agreements	907,211	858,350
Other borrowed funds	820,325	1,073,944
Junior subordinated deferrable interest debentures	175,416	175,416
Other liabilities	79,096	69,527
Total liabilities	10,445,882	10,615,862
Shareholders' equity:
Common shares of $1.00 par value. Authorized 275,000,000 shares; issued 95,824,737 shares on June 30, 2015 and 95,783,977 shares on December 31, 2014	95,825	95,784
Surplus	166,706	165,520
Retained earnings	1,635,868	1,585,389
Accumulated other comprehensive income (including $(4,476) on June 30, 2015 and $(4,881) on December 31, 2014 of comprehensive loss related to other-than-temporary impairment for non-credit related issues)	8,525	11,397
Total shareholders' equity before treasury stock	1,906,924	1,858,090
Less cost of shares in treasury,29,378,567 shares on June 30, 2015 and 29,324,567 December 31, 2014	(278,677)	(277,432)
Total shareholders' equity	1,628,247	1,580,658
Total liabilities and shareholders' equity	$ 12,074,129	$ 12,196,520

Consolidated Statements of Con3

Consolidated Statements of Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Consolidated Statements of Condition
Held to maturity, Market value (in dollars)	$ 2,400	$ 2,400
Available for sale, Amortized cost (in dollars)	$ 4,660,311	$ 4,894,428
Common shares, par value (in dollars per share)	$ 1	$ 1
Common shares, Authorized shares	275,000,000	275,000,000
Common shares, issued shares	95,824,737	95,783,977
Accumulated other comprehensive income, comprehensive loss related to other-than-temporary impairment for non-credit related issues (in dollars)	$ 4,476	$ 4,881
Treasury, shares	29,378,567	29,324,567

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income:
Loans, including fees	$ 72,927	$ 70,036	$ 145,370	$ 137,908
Investment securities:
Taxable	23,257	26,545	47,140	52,724
Tax-exempt	2,749	2,728	5,522	6,251
Other interest income	42	31	78	94
Total interest income	98,975	99,340	198,110	196,977
Interest expense:
Savings deposits	901	915	1,778	1,786
Time deposits	2,833	3,019	5,707	6,139
Securities sold under repurchase agreements	6,062	6,088	12,056	12,324
Other borrowings	369	564	844	1,120
Junior subordinated interest deferrable debentures	1,045	1,048	2,069	2,138
Total interest expense	11,210	11,634	22,454	23,507
Net interest income	87,765	87,706	175,656	173,470
Provision for probable loan losses	7,767	3,645	10,144	5,723
Net interest income after provision for probable loan losses	79,998	84,061	165,512	167,747
Non-interest income:
Service charges on deposit accounts	19,850	22,450	39,042	44,512
Other service charges, commissions and fees
Banking	13,075	12,090	23,528	22,911
Non-banking	1,856	1,161	2,966	3,060
Investment securities transactions, net	(427)	(379)	(428)	7,729
Other investments, net	3,462	2,309	7,717	11,367
Other income	2,328	3,822	4,153	10,062
Total non-interest income	40,144	41,453	76,978	99,641
Non-interest expense:
Employee compensation and benefits	29,650	29,989	61,402	60,234
Occupancy	6,681	7,856	12,860	14,864
Depreciation of bank premises and equipment	6,332	6,054	12,558	12,146
Professional fees	4,020	3,315	7,267	6,927
Deposit insurance assessments	1,440	1,558	2,930	2,997
Net expense, other real estate owned	928	830	2,396	1,759
Amortization of identified intangible assets	161	1,148	280	2,129
Advertising	2,023	1,955	4,030	3,785
Early termination fee - securities sold under repurchase agreements				11,000
Impairment charges (Total other-than-temporary impairment losses, $(54), net of $(278), $(74), net of $(263), $(176), net of $(627), and $(107), net of $(386), included in other comprehensive income)	224	189	451	279
Other	16,812	15,736	31,720	30,208
Total non-interest expense	68,271	68,630	135,894	146,328
Income before income taxes	51,871	56,884	106,596	121,060
Provision for income taxes	17,996	19,165	36,859	39,695
Net income	$ 33,875	$ 37,719	$ 69,737	$ 81,365
Basic earnings per common share:
Weighted average number of shares outstanding: (in shares)	66,424,723	66,925,664	66,420,511	67,027,750
Net income (in dollars per share)	$ 0.51	$ 0.56	$ 1.05	$ 1.21
Fully diluted earnings per common share:
Weighted average number of shares outstanding: (in shares)	66,684,136	67,071,370	66,619,788	67,171,257
Net income (in dollars per share)	$ 0.51	$ 0.56	$ 1.05	$ 1.21

Consolidated Statements of Inc5

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements of Income
Impairment charges, other-than-temporary impairment charges	$ (54)	$ (74)	$ (176)	$ (107)
Impairment charges, other comprehensive (loss) income	$ (278)	$ (263)	$ (627)	$ (386)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements of Comprehensive Income
Net income	$ 33,875	$ 37,719	$ 69,737	$ 81,365
Other comprehensive income (loss), net of tax
Net unrealized holding (losses) gains on securities available for sale arising during period (tax effects of $(13,311), $18,168, $(1,555) and $31,786)	(24,720)	33,742	(2,887)	59,032
Reclassification adjustment for (losses) gains on securities available for sale included in net income (tax effects of $(149) , $133,$(150) and $(2,705))	(278)	246	(278)	(5,024)
Reclassification adjustment for impairment charges on available for sale securities included in net income (tax effects of $78, $66, $158 and $98)	146	123	293	181
Other comprehensive income (loss), net of tax	(24,852)	34,111	(2,872)	54,189
Comprehensive income	$ 9,023	$ 71,830	$ 66,865	$ 135,554

Consolidated Statements of Com7

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements of Comprehensive Income
Net unrealized holding gains on securities available for sale arising during period, tax effects	$ (13,311)	$ 18,168	$ (1,555)	$ 31,786
Reclassification adjustment for gains on securities available for sale included in net income, tax effects	(149)	133	(150)	(2,705)
Reclassification adjustment for impairment charges on available for sale securities included in net income, tax effects	$ 78	$ 66	$ 158	$ 98

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities:
Net income	$ 69,737,000	$ 81,365,000
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for probable loan losses	10,144,000	5,723,000
Specific reserve, other real estate owned	118,000	238,000
Depreciation of bank premises and equipment	12,558,000	12,146,000
Gain on sale of bank premises and equipment	(143,000)	(3,957,000)
Gain on sale of other real estate owned	(205,000)	(298,000)
Accretion of investment securities discounts	(886,000)	(1,714,000)
Amortization of investment securities premiums	14,074,000	13,549,000
Investment securities transactions, net	428,000	(7,729,000)
Impairment charges on available-for-sale investment securities	451,000	279,000
Amortization of identified intangible assets	280,000	2,129,000
Stock based compensation expense	583,000	465,000
Earnings from affiliates and other investments	(6,527,000)	(5,086,000)
Deferred tax expense (benefit)	118,000	(2,083,000)
(Decrease) increase in accrued interest receivable	119,000	(432,000)
Net increase in other assets	(972,000)	(8,136,000)
Net increase (decrease) in other liabilities	511,000	(4,198,000)
Net cash provided by operating activities	100,388,000	82,261,000
Investing activities:
Proceeds from maturities of securities	1,075,000
Proceeds from sales and calls of available for sale securities	30,282,000	368,296,000
Purchases of available for sale securities	(241,570,000)	(574,029,000)
Principal collected on mortgage-backed securities	432,542,000	367,999,000
Net increase in loans	(115,735,000)	(244,308,000)
Purchases of other investments	(12,491,000)	(5,602,000)
Distributions received on other investments	10,332,000	5,288,000
Purchases of bank premises and equipment	(11,983,000)	(28,846,000)
Proceeds from sales of other real estate owned	10,922,000	6,919,000
Proceeds from sales of bank premises and equipment	891,000	6,789,000
Net cash provided by (used in) investing activities	104,265,000	(97,494,000)
Financing activities:
Net increase in non-interest bearing demand deposits	74,961,000	215,071,000
Net (decrease) increase in savings and interest bearing demand deposits	(10,341,000)	33,133,000
Net decrease in time deposits	(39,411,000)	(68,990,000)
Net increase (decrease) in securities sold under repurchase agreements	48,861,000	(87,316,000)
Net (decrease) increase in other borrowed funds	(253,619,000)	134,867,000
Purchase of treasury stock	(1,245,000)	(7,862,000)
Repayment of long-term debt		(10,310,000)
Proceeds from stock transactions	645,000	291,000
Payments of dividends on common stock	(19,258,000)	(16,741,000)
Net cash (used in) provided by financing activities	(199,407,000)	192,143,000
Increase in cash and cash equivalents	5,246,000	176,910,000
Cash and cash equivalents at beginning of period	255,146,000	274,785,000
Cash and cash equivalents at end of period	260,392,000	451,695,000
Supplemental cash flow information:
Interest paid	22,606,000	24,365,000
Income taxes paid	37,840,000	53,288,000
Non-cash investing and financing activities:
Net transfer from loans to other real estate owned	6,084,000	$ 1,681,000
Available for sale investment securities not yet settled	$ 2,279,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Basis of Presentation
Basis of Presentation	Note 1 - Basis of Presentation The accounting and reporting policies of International Bancshares Corporation (“Corporation”) and Subsidiaries (the Corporation and Subsidiaries collectively referred to herein as the “Company”) conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. The consolidated financial statements include the accounts of the Corporation and its wholly-owned subsidiaries, International Bank of Commerce, Laredo (“IBC”), Commerce Bank, International Bank of Commerce, Zapata, International Bank of Commerce, Brownsville and the Corporation’s wholly-owned non-bank subsidiaries, IBC Subsidiary Corporation, IBC Life Insurance Company, IBC Trading Company, Premier Tierra Holdings, Inc. and IBC Charitable and Community Development Corporation, and IBC Capital Corporation. All significant inter-company balances and transactions have been eliminated in consolidation. The consolidated financial statements are unaudited, but include all adjustments, which, in the opinion of management, are necessary for a fair presentation of the results of the periods presented. All such adjustments were of a normal and recurring nature. It is suggested that these financial statements be read in conjunction with the financial statements and the notes thereto in the Company’s latest Annual Report on Form 10-K. The consolidated statement of condition at December 31, 2014 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. Certain reclassifications have been made to make prior periods comparable. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results for the year ending December 31, 2015 or any future period. The Company operates as one segment. The operating information used by the Company’s chief executive officer for purposes of assessing performance and making operating decisions about the Company is the consolidated statements presented in this report. The Company has four active operating subsidiaries, namely, the bank subsidiaries, otherwise known as International Bank of Commerce, Laredo, Commerce Bank, International Bank of Commerce, Zapata and International Bank of Commerce, Brownsville. The Company applies the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), FASB ASC 280, “Segment Reporting”, in determining its reportable segments and related disclosures. The Company has evaluated all events or transactions that occurred through the date the Company issued these financial statements. During this period, the Company did not have any material recognizable or non-recognizable subsequent events.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements
Fair Value Measurements	Note 2 — Fair Value Measurements ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”) defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 applies to all financial instruments that are being measured and reported on a fair value basis. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; it also establishes a fair value hierarchy that prioritizes the inputs used in valuation methodologies into the following three levels: · Level 1 Inputs — Unadjusted quoted prices in active markets for identical assets or liabilities. · Level 2 Inputs — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. · Level 3 Inputs — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or other valuation techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy is set forth below. The following table represents assets and liabilities reported on the consolidated balance sheets at their fair value on a recurring basis as of June 30, 2015 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (Dollars in Thousands) Assets/Liabilities Measured at Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 30, 2015 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale securities Residential mortgage-backed securities $ $ — $ $ States and political subdivisions — — Other — — $ $ $ $ The following table represents assets and liabilities reported on the consolidated balance sheets at their fair value on a recurring basis as of December 31, 2014 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (Dollars in Thousands) Quoted Prices Assets/Liabilities Measured at Fair Value December 31, in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs 2014 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale securities Residential mortgage-backed securities $ $ — $ $ States and political subdivisions — — Other — — $ $ $ $ Investment securities available-for-sale are classified within level 2 and level 3 of the valuation hierarchy, with the exception of certain equity investments that are classified within level 1. For investments classified as level 2 in the fair value hierarchy, the Company obtains fair value measurements for investment securities from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Investment securities classified as level 3 are non-agency mortgage-backed securities. The non-agency mortgage-backed securities held by the Company are traded in inactive markets and markets that have experienced significant decreases in volume and level of activity, as evidenced by few recent transactions, a significant decline or absence of new issuances, price quotations that are not based on comparable securities transactions and wide bid-ask spreads among other factors. As a result of the inability to use quoted market prices to determine fair value for these securities, the Company determined that fair value, as determined by level 3 inputs in the fair value hierarchy, is more appropriate for financial reporting and more consistent with the expected performance of the investments. For the investments classified within level 3 of the fair value hierarchy, the Company used a discounted cash flow model to determine fair value. Inputs in the model included both historical performance and expected future performance based on information currently available. Assumptions used in the discounted cash flow model as of June 30, 2015 and December 31, 2014 were applied separately to those portions of the bond where the underlying residential mortgage loans had been performing under original contract terms for at least the prior 24 months and those where the underlying residential mortgages had not been meeting the original contractual obligation for the same period. Unobservable inputs included in the model are estimates on future principal prepayment rates, and default and loss severity rates. For that portion of the bond where the underlying residential mortgage had been meeting the original contract terms for at least 24 months, the Company used the following estimates in the model: (i) a voluntary prepayment rate of 7%, (ii) a 1% default rate, (iii) a loss severity rate of 25%, and (iv) a discount rate of 13%. The assumptions used in the model for the rest of the bond included the following estimates: (i) a voluntary prepayment rate of 2 %, (ii) a default rate of 4.5%, (iii) a loss severity rate that started at 60% for the first year (2012) then declines by 5% for the following five years (2013, 2014, 2015, 2016 and 2017) and remains at 25% thereafter (2018 and beyond), and (iv) a discount rate of 13%. The estimates used in the model to determine fair value are based on observable historical data of the underlying collateral. The model anticipates that the housing market will gradually improve and that the underlying collateral will eventually all perform in accordance with the original contract terms on the bond. Should the number of loans in the underlying collateral that default and go into foreclosure or the severity of the losses in the underlying collateral significantly change, the results of the model would be impacted. The Company will continue to evaluate the actual historical performance of the underlying collateral and will modify the assumptions used in the model as necessary. The following table presents a reconciliation of activity for such mortgage-backed securities on a net basis (Dollars in Thousands): Balance at December 31, 2014 $ Principal paydowns ) Total unrealized losses included in: Other comprehensive income Impairment realized ) Balance at June 30, 2015 $ Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis. The instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended June 30, 2015 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (Dollars in Thousands) Assets/Liabilities Measured at Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Net (Credit) Provision During June 30, 2015 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Impaired loans $ $ — $ — $ $ ) Other real estate owned — — The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended December 31, 2014 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (Dollars in Thousands) Assets/Liabilities Measured at Fair Value December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Net (Credit) Provision During the 2014 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Impaired loans $ $ — $ — $ $ ) Other real estate owned — — The Company’s assets measured at fair value on a non-recurring basis are limited to impaired loans and other real estate owned. Impaired loans are classified within level 3 of the valuation hierarchy. The fair value of impaired loans is derived in accordance with FASB ASC 310, “Receivables”. Impaired loans are primarily comprised of collateral-dependent commercial loans. Understanding that as the primary sources of loan repayments decline, the secondary repayment source comes into play and correctly evaluating the fair value of that secondary source, the collateral, becomes even more important. Re-measurement of the impaired loan to fair value is done through a specific valuation allowance included in the allowance for probable loan losses. The fair value of impaired loans is based on the fair value of the collateral, as determined through either an appraisal or evaluation process. The basis for the Company’s appraisal and appraisal review process is based on regulatory guidelines and strives to comply with all regulatory appraisal laws, regulations and the Uniform Standards of Professional Appraisal Practice. All appraisals and evaluations are “as is” (the property’s highest and best use) valuations based on the current conditions of the property/project at that point in time. The determination of the fair value of the collateral is based on the net realizable value, which is the appraised value less any closing costs, when applicable. As of June 30, 2015, the Company had $49,689,000 of impaired commercial collateral dependent loans, of which $37,460 000 had an appraisal performed within the immediately preceding twelve months, and of which $2,983,000 had an evaluation performed within the immediately preceding twelve months. As of December 31, 2014, the Company had $65,551,000 of impaired commercial collateral dependent loans, of which $52,092,000 had an appraisal performed within the immediately preceding twelve months and of which $5,307,000 had an evaluation performed within the immediately preceding twelve months. The determination to either seek an appraisal or to perform an evaluation begins in weekly credit quality meetings, where the committee analyzes the existing collateral values of the impaired loans and where obsolete appraisals are identified. In order to determine whether the Company would obtain a new appraisal or perform an internal evaluation to determine the fair value of the collateral, the credit committee reviews the existing appraisal to determine if the collateral value is reasonable in view of the current use of the collateral and the economic environment related to the collateral. If the analysis of the existing appraisal does not find that the collateral value is reasonable under the current circumstances, the Company would obtain a new appraisal on the collateral or perform an internal evaluation of the collateral. The ultimate decision to get a new appraisal rests with the independent credit administration group. A new appraisal is not required if an internal evaluation, as performed by in-house experts, is able to appropriately update the original appraisal assumptions to reflect current market conditions and provide an estimate of the collateral’s market value for impairment analysis. The internal evaluations must be in writing and contain sufficient information detailing the analysis, assumptions and conclusions and they must support performing an evaluation in lieu of ordering a new appraisal. Other real estate owned is comprised of real estate acquired by foreclosure and deeds in lieu of foreclosure. Other real estate owned is carried at the lower of the recorded investment in the property or its fair value less estimated costs to sell such property (as determined by independent appraisal) within level 3 of the fair value hierarchy. Prior to foreclosure, the value of the underlying loan is written down to the fair value of the real estate to be acquired by a charge to the allowance for probable loan losses, if necessary. The fair value is reviewed periodically and subsequent write downs are made accordingly through a charge to operations. Other real estate owned is included in other assets on the consolidated financial statements. For the six months ended June 30, 2015 and the twelve months ended December 31, 2014, respectively the Company recorded $937,000 and $367,000 in charges to the allowance for probable loan losses in connection with loans transferred to other real estate owned. For the six months ended June 30, 2015 and the twelve months ended December 31, 2014, respectively, the Company recorded $118,000 and $597,000 in adjustments to fair value in connection with other real estate owned. The fair value estimates, methods, and assumptions for the Company’s financial instruments at June 30, 2015 and December 31, 2014 are outlined below. Cash and Cash Equivalents For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Time Deposits with Banks The carrying amounts of time deposits with banks approximate fair value. Investment Securities Held-to-Maturity The carrying amounts of investments held-to-maturity approximate fair value. Investment Securities For investment securities, which include U.S. Treasury securities, obligations of other U.S. government agencies, obligations of states and political subdivisions and mortgage pass through and related securities, fair values are from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. See disclosures of fair value of investment securities in Note 6. Loans Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as commercial, real estate and consumer loans as outlined by regulatory reporting guidelines. Each category is segmented into fixed and variable interest rate terms and by performing and non-performing categories. For variable rate performing loans, the carrying amount approximates the fair value. For fixed rate performing loans, except residential mortgage loans, the fair value is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan. For performing residential mortgage loans, fair value is estimated by discounting contractual cash flows adjusted for prepayment estimates using discount rates based on secondary market sources or the primary origination market. Fixed rate performing loans are within Level 3 of the fair value hierarchy. At June 30, 2015, and December 31, 2014, the carrying amount of fixed rate performing loans was $1,360,880,000 and $1,352,147,000 respectively, and the estimated fair value was $1,293,326,000 and $1,285,648,000, respectively. Accrued Interest The carrying amounts of accrued interest approximate fair value. Deposits The fair value of deposits with no stated maturity, such as non-interest bearing demand deposit accounts, savings accounts and interest bearing demand deposit accounts, was equal to the amount payable on demand as of June 30, 2015 and December 31, 2014. The fair value of time deposits is based on the discounted value of contractual cash flows. The discount rate is based on currently offered rates. Time deposits are within Level 3 of the fair value hierarchy. At June 30, 2015 and December 31, 2014, the carrying amount of time deposits was $2,443,281,000 and $2,482,692,000, respectively, and the estimated fair value was $2,441,495,000 and $2,480,390,000, respectively. Securities Sold Under Repurchase Agreements Securities sold under repurchase agreements include both short and long-term maturities. Due to the contractual terms of the short-term instruments, the carrying amounts approximated fair value at June 30, 2015 and December 31, 2014. The fair value of the long-term instruments is based on established market spreads using option adjusted spread methodology. Long-term repurchase agreements are within level 3 of the fair value hierarchy. At June 30, 2015 and December 31, 2014, the carrying amount of long-term repurchase agreements was $610,000,000 and the estimated fair value was $563,796,100 and $558,097,100, respectively. Junior Subordinated Deferrable Interest Debentures The Company currently has floating rate junior subordinated deferrable interest debentures outstanding. Due to the contractual terms of the floating rate junior subordinated deferrable interest debentures, the carrying amounts approximated fair value at June 30, 2015 and December 31, 2014. Other Borrowed Funds The Company currently has short-term borrowings issued from the Federal Home Loan Bank (“FHLB”). Due to the contractual terms of the short-term borrowings, the carrying amounts approximated fair value at June 30, 2015 and December 31, 2014. The Company had one long-term borrowing outstanding at December 31, 2014, which was paid off in the second quarter of 2015. The fair value of long-term borrowings is based on established market spreads for similar types of borrowings. The long-term borrowings were included in Level 2 of the fair value hierarchy. At December 31, 2014, the carrying amount of the long-term FHLB borrowings was $6,244,000 and the estimated fair value was $6,645,000, respectively. Commitments to Extend Credit and Letters of Credit Commitments to extend credit and fund letters of credit are principally at current interest rates, and, therefore, the carrying amount approximates fair value. Limitations Fair value estimates are made at a point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on-and off-statement of condition financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Other significant assets and liabilities that are not considered financial assets or liabilities include the bank premises and equipment and core deposit value. In addition, the tax ramifications related to the effect of fair value estimates have not been considered in the above estimates.

Loans

Loans	6 Months Ended
	Jun. 30, 2015
Loans
Loans	Note 3— Loans A summary of loans, by loan type at June 30, 2015 and December 31, 2014 is as follows: June 30, December 31, 2015 2014 (Dollars in Thousands) Commercial, financial and agricultural $ $ Real estate — mortgage Real estate — construction Consumer Foreign Total loans $ $

Allowance for Probable Loan Los

Allowance for Probable Loan Losses	6 Months Ended
	Jun. 30, 2015
Allowance for Probable Loan Losses
Allowance for Probable Loan Losses	Note 4 - Allowance for Probable Loan Losses The allowance for probable loan losses primarily consists of the aggregate loan loss allowances of the bank subsidiaries. The allowances are established through charges to operations in the form of provisions for probable loan losses. Loan losses or recoveries are charged or credited directly to the allowances. The allowance for probable loan losses of each bank subsidiary is maintained at a level considered appropriate by management, based on estimated probable losses in the loan portfolio. The allowance for probable loan losses is derived from the following elements: (i) allowances established on specific impaired loans, which are based on a review of the individual characteristics of each loan, including the customer’s ability to repay the loan, the underlying collateral values, and the industry in which the customer operates, (ii) allowances based on actual historical loss experience for similar types of loans in the Company’s loan portfolio, and (iii) allowances based on general economic conditions, changes in the mix of loans, company resources, border risk and credit quality indicators, among other things. All segments of the loan portfolio continue to be impacted by the prolonged economic downturn. Loans secured by real estate could be impacted negatively by the continued economic environment and resulting decrease in collateral values. Consumer loans may be impacted by continued and prolonged unemployment rates.. The Company’s management continually reviews the allowance for loan losses of the bank subsidiaries using the amounts determined from the allowances established on specific impaired loans, the allowance established on quantitative historical loss percentages, and the allowance based on qualitative data to establish an appropriate amount to maintain in the Company’s allowance for loan losses. Should any of the factors considered by management in evaluating the adequacy of the allowance for probable loan losses change, the Company’s estimate of probable loan losses could also change, which could affect the level of future provisions for probable loan losses. While the calculation of the allowance for probable loan losses utilizes management’s best judgment and all information available, the adequacy of the allowance is dependent on a variety of factors beyond the Company’s control, including, among other things, the performance of the entire loan portfolio, the economy, changes in interest rates and the view of regulatory authorities towards loan classifications. The loan loss provision is determined using the following methods. On a weekly basis, loan past due reports are reviewed by the credit quality committee to determine if a loan has any potential problems and if a loan should be placed on the Company’s internal classified report. Additionally, the Company’s credit department reviews the majority of the Company’s loans for proper internal classification purposes regardless of whether they are past due and segregates any loans with potential problems for further review. The credit department will discuss the potential problem loans with the servicing loan officers to determine any relevant issues that were not discovered in the evaluation. Also, an analysis of loans that is provided through examinations by regulatory authorities is considered in the review process. After the above analysis is completed, the Company will determine if a loan should be placed on an internal classified report because of issues related to the analysis of the credit, credit documents, collateral and/or payment history. A summary of the transactions in the allowance for probable loan losses by loan class is as follows: Three Months Ended June 30, 2015 Domestic Foreign Commercial Commercial Real Estate: Other Construction & Land Development Commercial Real Estate: Farmland & Commercial Commercial Real Estate: Multifamily Residential: First Lien Residential: Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at March 31, $ $ $ $ $ $ $ $ $ Losses charge to allowance ) ) ) — ) ) ) — ) Recoveries credited to allowance — Net (losses) recoveries charged to allowance ) ) ) — ) ) Provision charged to operations ) ) ) ) Balance at June 30, $ $ $ $ $ $ $ $ $ Three Months Ended June 30, 2014 Domestic Foreign Commercial Commercial Real Estate: Other Construction & Land Development Commercial Real Estate: Farmland & Commercial Commercial Real Estate: Multifamily Residential: First Lien Residential: Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at March 31, $ $ $ $ $ $ $ $ $ Losses charge to allowance ) ) ) — ) ) ) ) ) Recoveries credited to allowance — — Net (losses) recoveries charged to allowance ) ) ) — ) ) ) ) Provision charged to operations ) ) Balance at June 30, $ $ $ $ $ $ $ $ $ Six Months Ended June 30, 2015 Domestic Foreign Commercial Commercial Real Estate: Other Construction & Land Development Commercial Real Estate: Farmland & Commercial Commercial Real Estate: Multifamily Residential: First Lien Residential: Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at December 31, $ $ $ $ $ $ $ $ $ Losses charge to allowance ) ) ) — ) ) ) — ) Recoveries credited to allowance — Net (losses) recoveries charged to allowance ) ) — ) ) ) Provision charged to operations ) ) ) ) Balance at June 30, $ $ $ $ $ $ $ $ $ Six Months Ended June 30, 2014 Domestic Foreign Commercial Commercial Real Estate: Other Construction & Land Development Commercial Real Estate: Farmland & Commercial Commercial Real Estate: Multifamily Residential: First Lien Residential: Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at December 31, $ $ $ $ $ $ $ $ $ Losses charge to allowance ) ) ) — ) ) ) ) ) Recoveries credited to allowance — Net losses charged to allowance ) ) ) — ) ) ) ) ) Provision charged to operations ) ) Balance at June 30, $ $ $ $ $ $ $ $ $ The allowance for probable loan losses is a reserve established through a provision for probable loan losses charged to expense, which represents management’s best estimate of probable loan losses when evaluating loans (i) individually or (ii) collectively. The increase in losses charged to the allowance for probable loan losses for the three and six months ended June 30, 2015 can be attributed to a charge down of an impaired loan relationship that is mainly secured by multiple pieces of transportation equipment, the value of which fluctuates due to market factors and the amount and use of the equipment. The loan was classified as a Watch-List impaired loan at December 31, 2014 and was included in the balance of loans individually evaluated for impairment with a specific reserve at December 31, 2014. The table below provides additional information on the balance of loans individually or collectively evaluated for impairment and their related allowance, by loan class as of June 30, 2015 and December 31, 2014: June 30, 2015 (Dollars in Thousands) Loans individually evaluated for impairment Loans collectively evaluated for impairment Recorded Investment Allowance Recorded Investment Allowance Domestic Commercial $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien — Residential: junior lien — Consumer — Foreign — Total $ $ $ $ December 31, 2014 (Dollars in Thousands) Loans individually evaluated for impairment Loans collectively evaluated for impairment Recorded Investment Allowance Recorded Investment Allowance Domestic Commercial $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien — Residential: junior lien — Consumer — Foreign — — Total $ $ $ $ During the second quarter of 2015, the Company charged down a portion of an impaired loan relationship that is mainly secured by multiple pieces of transportation equipment, the value of which fluctuates due to market factors. The Company also foreclosed upon two other real-estate secured commercial impaired loans. The transactions and their impact to the Company’s loan portfolio, including the allowance for probable loan losses, non-accrual loans and impaired loans with a related allowance for June 30, 2015 compared to December 31, 2014 are illustrated in the various associated tables on the following pages. The table below provides additional information on loans accounted for on a non-accrual basis by loan class at June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 (Dollars in Thousands) Domestic Commercial $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily Residential: first lien Residential: junior lien Consumer Total non-accrual loans $ $ Impaired loans are those loans where it is probable that all amounts due according to contractual terms of the loan agreement will not be collected. The Company has identified these loans through its normal loan review procedures. Impaired loans are measured based on (1) the present value of expected future cash flows discounted at the loan’s effective interest rate; (2) the loan’s observable market price; or (3) the fair value of the collateral if the loan is collateral dependent. Substantially all of the Company’s impaired loans are measured at the fair value of the collateral. In limited cases the Company may use other methods to determine the level of impairment of a loan if such loan is not collateral dependent. The following tables detail key information regarding the Company’s impaired loans by loan class at June 30, 2015 and December 31, 2014: June 30, 2015 Quarter to Date Year to Date Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Recognized Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ $ $ $ $ — $ $ — Commercial real estate: other construction & land development — — Commercial real estate: farmland & commercial Total impaired loans with related allowance $ $ $ $ $ $ $ June 30, 2015 Quarter to Date Year to Date Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Recognized Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ $ $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial — — Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign Total impaired loans with no related allowance $ $ $ $ $ $ December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ $ $ $ $ — Commercial real estate: other construction & land development — Commercial real estate: farmland & commercial Total impaired loans with related allowance $ $ $ $ $ December 31, 2014 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial — Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign — — — — Total impaired loans with no related allowance $ $ $ $ The following tables detail key information regarding the Company’s average recorded investment in and interest recognized on impaired loans by loan class at June 30, 2014: June 30, 2014 Quarter to Date Year to Date Average Recorded Investment Interest Recognized Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ $ — $ $ — Commercial real estate: other construction & land development — — Commercial real estate: farmland & commercial Total impaired loans with related allowance $ $ $ $ June 30, 2014 Quarter to Date Year to Date Average Recorded Investment Interest Recognized Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial — — Commercial real estate: multifamily — — Residential: first lien Residential: junior lien Consumer Foreign Total impaired loans with no related allowance $ $ $ $ A portion of the impaired loans have adequate collateral and credit enhancements not requiring a related allowance for loan loss. The level of impaired loans is reflective of the economic weakness that has been created by the financial crisis and the subsequent economic downturn. Management is confident the Company’s loss exposure regarding these credits will be significantly reduced due to the Company’s long-standing practices that emphasize secured lending with strong collateral positions and guarantor support. Management is likewise confident the reserve for probable loan losses is adequate. The Company has no direct exposure to sub-prime loans in its loan portfolio, but the sub-prime crisis has affected the credit markets on a national level, and as a result, the Company has experienced an increasing amount of impaired loans; however, management’s decision to place loans in this category does not necessarily mean that the Company will experience significant losses from these loans or significant increases in impaired loans from these levels. Management of the Company recognizes the risks associated with these impaired loans. However, management’s decision to place loans in this category does not necessarily mean that losses will occur. In the current environment, troubled loan management can be protracted because of the legal and process problems that delay the collection of an otherwise collectable loan. Additionally, management believes that the collateral related to these impaired loans and/or the secondary support from guarantors mitigates the potential for losses from impaired loans. The following table details loans accounted for as “troubled debt restructuring,” segregated by loan class. Loans accounted for as troubled debt restructuring are included in impaired loans. June 30, 2015 December 31, 2014 (Dollars in Thousands) Domestic Commercial $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign — Total troubled debt restructuring $ $ The bank subsidiaries charge off that portion of any loan which management considers to represent a loss as well as that portion of any other loan which is classified as a “loss” by bank examiners. Commercial and industrial or real estate loans are generally considered by management to represent a loss, in whole or part, when an exposure beyond any collateral coverage is apparent and when no further collection of the loss portion is anticipated based on the borrower’s financial condition and general economic conditions in the borrower’s industry. Generally, unsecured consumer loans are charged-off when 90 days past due. While management of the Company considers that it is generally able to identify borrowers with financial problems reasonably early and to monitor credit extended to such borrowers carefully, there is no precise method of predicting loan losses. The determination that a loan is likely to be uncollectible and that it should be wholly or partially charged-off as a loss is an exercise of judgment. Similarly, the determination of the adequacy of the allowance for probable loan losses can be made only on a subjective basis. It is the judgment of the Company’s management that the allowance for probable loan losses at June 30, 2015 was adequate to absorb probable losses from loans in the portfolio at that date. The following table presents information regarding the aging of past due loans by loan class at June 30, 2015 and December 31, 2014: June 30, 2015 30 — 59 Days 60 — 89 Days 90 Days or Greater 90 Days or Greater & Still Accruing Total Past Due Current Total Portfolio (Dollars in Thousands) Domestic Commercial $ $ $ $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign Total $ $ $ $ $ $ $ December 31, 2014 30 — 59 Days 60 — 89 Days 90 Days or Greater 90 Days or Greater & Still Accruing Total Past Due Current Total Portfolio (Dollars in Thousands) Domestic Commercial $ $ $ $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign Total past due loans $ $ $ $ $ $ $ The Company’s internal classified report is segregated into the following categories: (i) “Special Review Credits,” (ii) “Watch List - Pass Credits,” or (iii) “Watch List - Substandard Credits.” The loans placed in the “Special Review Credits” category reflect the Company’s opinion that the loans reflect potential weakness which require monitoring on a more frequent basis. The “Special Review Credits” are reviewed and discussed on a regular basis with the credit department and the lending staff to determine if a change in category is warranted. The loans placed in the “Watch List - Pass Credits” category reflect the Company’s opinion that the credit contains weaknesses which represent a greater degree of risk, which warrant “extra attention.” The “Watch List — Pass Credits” are reviewed and discussed on a regular basis with the credit department and the lending staff to determine if a change in category is warranted. The loans placed in the “Watch List — Substandard Credits” classification are considered to be potentially inadequately protected by the current sound worth and debt service capacity of the borrower or of any pledged collateral. These credit obligations, even if apparently protected by collateral value, have shown defined weaknesses related to adverse financial, managerial, economic, market or political conditions which may jeopardize repayment of principal and interest. Furthermore, there is the possibility that some future loss could be sustained by the Company if such weaknesses are not corrected. For loans that are classified as impaired, management evaluates these credits in accordance with the provisions of ASC 310-10, “Receivables,” and, if deemed necessary, a specific reserve is allocated to the credit. The specific reserve allocated under ASC 310-10, is based on (i) the present value of expected future cash flows discounted at the loan’s effective interest rate; (ii) the loan’s observable market price; or (iii) the fair value of the collateral if the loan is collateral dependent. Substantially all of the Company’s loans evaluated as impaired under ASC 310-10 are measured using the fair value of collateral method. In limited cases, the Company may use other methods to determine the specific reserve of a loan under ASC 310-10 if such loan is not collateral dependent. The allowance based on historical loss experience on the Company’s remaining loan portfolio, which includes the “Special Review Credits,” “Watch List - Pass Credits,” and “Watch List - Substandard Credits” is determined by segregating the remaining loan portfolio into certain categories such as commercial loans, installment loans, international loans, loan concentrations and overdrafts. Installment loans are then further segregated by number of days past due. A historical loss percentage, adjusted for (i) management’s evaluation of changes in lending policies and procedures, (ii) current economic conditions in the market area served by the Company, (iii) other risk factors, (iv) the effectiveness of the internal loan review function, (v) changes in loan portfolios, and (vi) the composition and concentration of credit volume is applied to each category. Each category is then added together to determine the allowance allocated under ASC 450-20. A summary of the loan portfolio by credit quality indicator by loan class at June 30, 2015 and December 31, 2014 is as follows: June 30, 2015 Pass Special Review Watch List - Pass Watch List - Substandard Watch List - Impaired (Dollars in Thousands) Domestic Commercial $ $ — $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — — Residential: first lien — Residential: junior lien — — Consumer — — — Foreign — — — Total $ $ $ $ $ December 31, 2014 Pass Special Review Watch List - Pass Watch List - Substandard Watch List - Impaired (Dollars in Thousands) Domestic Commercial $ $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — — Residential: first lien — Residential: junior lien — — Consumer — — Foreign — — — — Total $ $ $ $ $ The decrease in Special Review credits for June 30, 2015 compared to December 31, 2014 can be attributed to the re-classification of a commercial loan relationship secured mainly by all assets, including contract rights of the borrower. to the Watch-List Substandard category. The decrease in Watch-List Impaired loans at June 30, 2015 compared to December 31, 2014 can be attributed to the charge down of a previously identified impaired loan relationship that is mainly secured by multiple pieces of transportation equipment, the value of which fluctuates due to market factors, and the foreclosure of two other real estate secured commercial impaired loans.

Stock Options

Stock Options	6 Months Ended
	Jun. 30, 2015
Stock Options
Stock Options	Note 5 — Stock Options On April 5, 2012, the Board of Directors adopted the 2012 International Bancshares Corporation Stock Option Plan (the “2012 Plan”). There are 800,000 shares available for stock option grants under the 2012 Plan. Under the 2012 Plan, both qualified incentive stock options (“ISOs”) and non-qualified stock options (“NQSOs”) may be granted. Options granted may be exercisable for a period of up to 10 years from the date of grant, excluding ISOs granted to 10% shareholders, which may be exercisable for a period of up to only five years. As of June 30, 2015, 205,000 shares were available for future grants under the 2012 Plan. A summary of option activity under the stock option plans for the six months ended June 30, 2015 is as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($) (Dollars in Thousands) Options outstanding at December 31, 2014 $ Plus: Options granted Less: Options exercised Options expired Options forfeited Options outstanding at June 30, 2015 $ Options fully vested and exercisable at June 30, 2015 $ $ Stock-based compensation expense included in the consolidated statements of income for the three and six months ended June 30, 2015 was approximately $291,000 and $583,000, respectively. Stock-based compensation expense included in the consolidated statements of income for the three and six months ended June 30, 2014 was approximately $304,000 and $465,000, respectively. As of June 30, 2015, there was approximately $3,552,000 of total unrecognized stock-based compensation cost related to non-vested options granted under the Company plans that will be recognized over a weighted average period of 2.13 years.

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 2015
Investment Securities
Investment Securities	Note 6 - Investment Securities The Company classifies debt and equity securities into one of three categories: held-to maturity, available-for-sale, or trading. Such securities are reassessed for appropriate classification at each reporting date. Securities classified as “held-to-maturity” are carried at amortized cost for financial statement reporting, while securities classified as “available-for-sale” and “trading” are carried at their fair value. Unrealized holding gains and losses are included in net income for those securities classified as “trading”, while unrealized holding gains and losses related to those securities classified as “available-for-sale” are excluded from net income and reported net of tax as other comprehensive income (loss) and accumulated other comprehensive income (loss) until realized, or in the case of losses, when deemed other than temporary. The amortized cost and estimated fair value by type of investment security at June 30, 2015 are as follows: Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Carrying Value (Dollars in Thousands) Other securities $ $ — $ — $ $ Total investment securities $ $ — $ — $ $ Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Carrying Value(1) (Dollars in Thousands) Residential mortgage-backed securities $ $ $ ) $ $ Obligations of states and political subdivisions ) Equity securities ) Total investment securities $ $ $ ) $ $ (1) Included in the carrying value of residential mortgage-backed securities are $1,367,593 of mortgage-backed securities issued by Ginnie Mae, $2,974,777 of mortgage-backed securities issued by Fannie Mae and Freddie Mac and $22,696 issued by non-government entities The amortized cost and estimated fair value by type of investment security at December 31, 2014 are as follows: Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Carrying Value (Dollars in Thousands) Other securities $ $ — $ — $ $ Total investment securities $ $ — $ — $ $ Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Carrying Value(1) (Dollars in Thousands) Residential mortgage-backed securities $ $ $ ) $ $ Obligations of states and political subdivisions ) Equity securities ) Total investment securities $ $ $ ) $ $ (1) Included in the carrying value of residential mortgage-backed securities are $1,503,774 of mortgage-backed securities issued by Ginnie Mae, $3,072,535 of mortgage-backed securities issued by Fannie Mae and Freddie Mac and $24,063 issued by non-government entities The amortized cost and estimated fair value of investment securities at June 30, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties. Held to Maturity Available for Sale Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (Dollars in Thousands) Due in one year or less $ — $ — $ — $ — Due after one year through five years — — Due after five years through ten years — — Due after ten years — — Residential mortgage-backed securities — — Equity securities — — Total investment securities $ $ $ $ Residential mortgage-backed securities are securities issued by Freddie Mac, Fannie Mae, Ginnie Mae or non-government entities. Investments in residential mortgage-backed securities issued by Ginnie Mae are fully guaranteed by the U.S. Government. Investments in mortgage-backed securities issued by Freddie Mac and Fannie Mae are not fully guaranteed by the U.S. Government, however, the Company believes that the quality of the bonds is similar to other AAA rated bonds with limited credit risk, particularly given the placement of Fannie Mae and Freddie Mac into conservatorship by the federal government in early September 2008 and because securities issued by others that are collateralized by residential mortgage-backed securities issued by Fannie Mae or Freddie Mac are rated consistently as AAA rated securities. The amortized cost and fair value of available for sale investment securities pledged to qualify for fiduciary powers, to secure public monies as required by law, repurchase agreements and short-term fixed borrowings was $2,077,210,000 and $2,083,921,000, respectively, at June 30, 2015. Proceeds from the sale of securities available-for-sale were $23,992,000 and $30,282,000 for the three and six months ended June 30, 2015, which included $23,992,000 and $23,992,000 of mortgage-backed securities. Gross gains of $0 and $1,000 and gross losses of $427,000 and $428,000 were realized on the sales for the three and six months ended June 30, 2015, respectively. Proceeds from the sale of securities available-for-sale were $110,020,000 and $368,296,000 for the three and six months ended June 30, 2014, which included $110,020,000 and $367,641,000 of mortgage-backed securities. Gross gains of $1,371,000 and $9,479,000 and gross losses of $1,750,000 and $1,750,000 were realized on the sales for the three and six months ended June 30, 2014, respectively. Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2015, were as follows: Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Available for sale: Residential mortgage-backed securities $ $ ) $ $ ) $ $ ) Obligations of states and political subdivisions ) ) ) Equity securities ) ) ) $ $ ) $ $ ) $ $ ) Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2014 were as follows: Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Available for sale: Residential mortgage-backed securities $ $ ) $ $ ) $ $ ) Obligations of states and political subdivisions ) ) ) Equity securities ) ) ) $ $ ) $ $ ) $ $ ) The unrealized losses on investments in residential mortgage-backed securities are primarily caused by changes in market interest rates. Residential mortgage-backed securities are primarily securities issued by Freddie Mac, Fannie Mae and Ginnie Mae. The contractual cash obligations of the securities issued by Ginnie Mae are fully guaranteed by the U.S. Government. The contractual cash obligations of the securities issued by Freddie Mac and Fannie Mae are not fully guaranteed by the U.S. Government; however, the Company believes that the quality of the bonds is similar to other AAA rated bonds with limited credit risk, particularly given the placement of Fannie Mae and Freddie Mac into conservatorship by the federal government in early September 2008 and because securities issued by others that are collateralized by residential mortgage-backed securities issued by Fannie Mae and Freddie Mac are rated consistently as AAA rated securities. The decrease in fair value on residential mortgage-backed securities issued by Freddie Mac, Fannie Mae and Ginnie Mae is due to market interest rates. The Company has no intent to sell and will more than likely not be required to sell before a market price recovery or maturity of the securities; therefore, it is the conclusion of the Company that the investments in residential mortgage-backed securities issued by Freddie Mac, Fannie Mae and Ginnie Mae are not considered other-than-temporarily impaired. In addition, the Company has a small investment in non-agency residential mortgage-backed securities that have strong credit backgrounds and include additional credit enhancements to protect the Company from losses arising from high foreclosure rates. These securities have additional market volatility beyond economically induced interest rate events. It is the conclusion of the Company that the investments in non-agency residential mortgage-backed securities are other-than-temporarily impaired due to both credit and other than credit issues. Impairment charges of $224,000 ($145,600, after tax) and $451,000 ($293,150, after tax) were recorded for the three and six months ended June 30, 2015, respectively. Impairment charges of $189,000 ($122,900, after tax) and $279,000 ($181,300, after tax) were recorded for the three and six months ended June 30, 2014, respectively. The impairment charge represents the credit related impairment on the securities. The unrealized losses on investments in other securities are caused by fluctuations in market interest rates. The underlying cash obligations of the securities are guaranteed by the entity underwriting the debt instrument. It is the belief of the Company that the entity issuing the debt will honor its interest payment schedule, as well as the full debt at maturity. The securities are purchased by the Company for their economic value. The decrease in fair value is primarily due to market interest rates and not other factors, and because the Company has no intent to sell and will more than likely not be required to sell before a market price recovery or maturity of the securities, it is the conclusion of the Company that the investments are not considered other-than-temporarily impaired. The following table presents a reconciliation of credit-related impairment charges on available-for-sale investments recognized in earnings for the three months ended June 30, 2015 (Dollars in Thousands): Balance at March 31, 2015 $ Impairment charges recognized during period Balance at June 30, 2015 $ The following table presents a reconciliation of credit-related impairment charges on available-for-sale investments recognized in earnings for the six months ended June 30, 2015 (Dollars in Thousands): Balance at December 31, 2014 $ Impairment charges recognized during period Balance at June 30, 2015 $ The following table presents a reconciliation of credit-related impairment charges on available-for-sale investment recognized in earnings for the three months ended June 30, 2014 (Dollars in Thousands): Balance at March 31, 2014 $ Impairment charges recognized during period Balance at June 30, 2014 $ The following table presents a reconciliation of credit-related impairment charges on available-for-sale investment recognized in earnings for the six months ended June 30, 2014 (Dollars in Thousands): Balance at December 31, 2013 $ Impairment charges recognized during period Balance at June 30, 2014 $

Other Borrowed Funds

Other Borrowed Funds	6 Months Ended
	Jun. 30, 2015
Other Borrowed Funds
Other Borrowed Funds	Note 7 — Other Borrowed Funds Other borrowed funds include Federal Home Loan Bank borrowings, which are short-term and long-term borrowings issued by the FHLB of Dallas at the market price offered at the time of funding. These borrowings are secured by residential mortgage-backed investment securities and a portion of the Company’s loan portfolio. At June 30, 2015, other borrowed funds totaled $820,325,000 a decrease of 23.6% from $1,073,944,000 at December 31, 2014. The decrease in borrowings can be primarily attributed to the use of funds generated from principal paydowns on available for sale securities.

Junior Subordinated Interest De

Junior Subordinated Interest Deferrable Debentures	6 Months Ended
	Jun. 30, 2015
Junior Subordinated Interest Deferrable Debentures
Junior Subordinated Interest Deferrable Debentures	Note 8 — Junior Subordinated Interest Deferrable Debentures The Company has formed seven statutory business trusts under the laws of the State of Delaware, for the purpose of issuing trust preferred securities. The seven statutory business trusts formed by the Company (the “Trusts”) have each issued Capital and Common Securities and invested the proceeds thereof in an equivalent amount of junior subordinated debentures (the “Debentures”) issued by the Company. As of June 30, 2015 and December 31, 2014, the principal amount of debentures outstanding totaled $175,416,000. On February 11, 2014, the Company bought back all of the Capital and Common Securities of IB Capital Trust VII from the holder of the securities for a price that reflected an approximate six percent discount from the redemption price of the securities and thereby retired the $10,310,000 of related Junior Subordinated Deferrable Interest Debentures related to IB Capital Trust VII. On December 24, 2014, the Company bought back a portion of the Capital Securities of IB Capital Trust XI from the holder of the securities for a price that reflected an approximate 23.6% discount from the redemption price of the securities and thereby retired $5,000,000 of the total $32,900,000 of related Junior Subordinated Deferrable Interest Debentures related to IB Capital Trust XI resulting in Junior Subordinated Deferrable Interest Debentures on Trust XI of $27,990,000 as of June 30, 2015. On July 29, 2015, the Company bought back a portion of the Capital Securities of IBC Capital Trusts X and XI from the holder of the securities for a price that reflected an approximate 24.5% discount from the redemption prices of the securities. The Company thereby retired $13,000,000 of the total $34,021,000 of related Junior Subordinated Deferrable Interest Debentures related to IB Capital Trust X resulting in Junior Subordinated Deferrable Interest Debentures on Trust X of $21,021,000, and $1,000,000 of the total $27,900,000 of related Junior Subordinated Deferrable Interest Debentures related to IB Capital Trust XI resulting in Junior Subordinated Deferrable Interest Debentures on Trust XI of $26,990,000 as of July 31, 2015. The Debentures are subordinated and junior in right of payment to all present and future senior indebtedness (as defined in the respective indentures) of the Company, and are pari passu with one another. The interest rate payable on, and the payment terms of the Debentures are the same as the distribution rate and payment terms of the respective issues of Capital and Common Securities issued by the Trusts. The Company has fully and unconditionally guaranteed the obligations of each of the Trusts with respect to the Capital and Common Securities. The Company has the right, unless an Event of Default (as defined in the Indentures) has occurred and is continuing, to defer payment of interest on the Debentures for up to twenty consecutive quarterly periods on Trusts VI, VIII, IX, X, XI and XII. If interest payments on any of the Debentures are deferred, distributions on both the Capital and Common Securities related to that Debenture would also be deferred. The redemption prior to maturity of any of the Debentures may require the prior approval of the Federal Reserve and/or other regulatory bodies. For financial reporting purposes, the Trusts are treated as investments of the Company and not consolidated in the consolidated financial statements. Although the Capital Securities issued by each of the Trusts are not included as a component of shareholders’ equity on the consolidated statement of condition, the Capital Securities are treated as capital for regulatory purposes. Specifically, under applicable regulatory guidelines, the Capital Securities issued by the Trusts qualify as Tier 1 capital up to a maximum of 25% of Tier 1 capital on an aggregate basis. Any amount that exceeds the 25% threshold would qualify as Tier 2 capital. At June 30, 2015 and December 31, 2014, the total $175,416,000 of the Capital Securities outstanding qualified as Tier 1 capital. The following table illustrates key information about each of the Capital and Common Securities and their interest rate at June 30, 2015: Junior Subordinated Deferrable Interest Debentures Repricing Frequency Interest Rate Interest Rate Index (1) Maturity Date Optional Redemption Date(1) (Dollars in Thousands) Trust VI $ Quarterly % LIBOR + 3.45 November 2032 February 2008 Trust VIII Quarterly % LIBOR + 3.05 October 2033 October 2008 Trust IX Quarterly % LIBOR + 1.62 October 2036 October 2011 Trust X Quarterly % LIBOR + 1.65 February 2037 February 2012 Trust XI Quarterly % LIBOR + 1.62 July 2037 July 2012 Trust XII Quarterly % LIBOR + 1.45 September 2037 September 2012 $ (1) The Capital Securities may be redeemed in whole or in part on any interest payment date after the Optional Redemption Date.

Common Stock and Dividends

Common Stock and Dividends	6 Months Ended
	Jun. 30, 2015
Common Stock and Dividends
Common Stock and Dividends	Note 9 — Common Stock and Dividends The Company had outstanding 216,000 shares of Series A cumulative perpetual preferred stock (the “Senior Preferred Stock”), issued to the US Treasury under the Company’s participation in the Troubled Asset Relief Program Capital Purchase Program (the “TARP Capital Purchase Program”). The Company redeemed all of the Senior Preferred Stock in 2012. In conjunction with the purchase of the Senior Preferred Stock, the US Treasury received a warrant (the “Warrant”) to purchase 1,326,238 shares of the Company’s common stock (the “Warrant Shares”) at $24.43 per share, which would represent an aggregate common stock investment in the Company on exercise of the warrant in full equal to 15% of the Senior Preferred Stock investment. The term of the Warrant is ten years and was immediately exercisable. The Warrant is included as a component of Tier 1 capital. On June 12, 2013, the U.S. Treasury sold the Warrant to a third party. As of June 30, 2015, the Warrant is still outstanding, but expires on December 23, 2018 with no value if not exercised before that date. Adjustments to the $24.43 per share Exercise Price of the Warrant will be made if the Company pays cash dividends in excess of 33 cents per semi-annual period or makes certain other shareholder distributions before the Warrant expires on December 23, 2018. The Company paid cash dividends to the common shareholders of $.29 per share on April 17, 2015 to all holders of record on April 1, 2015. The Company paid cash dividends to the common shareholders of $.25 per share on April 18, 2014 to all holders of record on April 1, 2014 and $.27 per share on October 15, 2014 to all shareholders of record on September 30, 2014. In April 2009, following receipt of the Treasury Department’s consent, the Board of Directors re-established a formal stock repurchase program that authorized the repurchase of up to $40 million of common stock within the following twelve months and on March 6, 2015, the Board of Directors extended the repurchase program and again authorized the repurchase of up to $40 million of common stock during the twelve month period commencing on April 9, 2015, which repurchase cap the Board is inclined to increase over time. Stock repurchases may be made from time to time, on the open market or through private transactions. Shares repurchased in this program will be held in treasury for reissue for various corporate purposes, including employee stock option plans. During the second quarter of 2015, the Company’s Board of Directors adopted a Rule 10b5-1 plan and intends to adopt additional Rule 10b5-1 trading plans that will allow the Company to purchase its shares of common stock during certain trading blackout periods when the Company ordinarily would not be in the market due to trading restrictions in its internal trading policy. During the term of a 10b5-1 Plan, purchases of common stock are automatic to the extent the conditions of the 10b5-1 Plan’s trading instructions are met. Shares repurchased in this program will be held in treasury for reissue for various corporate purposes, including employee stock option plans. As of July 31, 2015, a total of 8,685,700 shares had been repurchased under all programs at a cost of $257,731,000. The Company is not obligated to repurchase shares under its stock repurchase program or to enter into additional Rule 10b5-1 plans. The timing, actual number and value of shares purchased will depend on many factors, including the Company’s cash flow and the liquidity and price performance of its shares of common stock.

Commitments and Contingent Liab

Commitments and Contingent Liabilities and Other Tax Matters	6 Months Ended
	Jun. 30, 2015
Commitments and Contingent Liabilities and Other Tax Matters
Commitments and Contingent Liabilities and Other Tax Matters	Note 10 - Commitments and Contingent Liabilities and Other Tax Matters The Company is involved in various legal proceedings that are in various stages of litigation. Some of these actions allege “lender liability” claims on a variety of theories and claim substantial actual and punitive damages. The Company has determined, based on discussions with its counsel that any material loss in such actions, individually or in the aggregate, is remote or the damages sought, even if fully recovered, would not be considered material to the consolidated financial position or results of operations of the Company. However, many of these matters are in various stages of proceedings and further developments could cause management to revise its assessment of these matters.

Capital Ratios

Capital Ratios	6 Months Ended
	Jun. 30, 2015
Capital Ratios
Capital Ratios	Note 11 — Capital Ratios Banks and bank holding companies are subject to various regulatory capital requirements administered by state and federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amount and classifications are also subject to qualitative judgements by regulators about components, risk-weighting and other factors. In July 2013, the Federal Deposit Insurance Corporation (“FDIC”) and other regulatory bodies established a new, comprehensive capital framework for U.S. banking organizations, consisting of minimum requirements that increase both the quantity and quality of capital held by banking organizations. The final rules are a result of the implementation of the BASEL III capital reforms and various Dodd-Frank Act related capital provisions. Consistent with the Basel international framework, the rules includes a new minimum ratio of Common Equity Tier 1 (“CET1”) to risk-weighted assets of 4.5 percent and a CET1 capital conservation buffer of 2.5 percent of risk-weighted assets. The capital conservation buffer will be phased-in beginning on January 1, 2016 at .625% and will increase each year until January 1, 2019, when the Company will be required to have a 2.5% capital conservation buffer, effectively resulting in a minimum ratio of CET1 capital to risk-weighted assets of at least 7% upon full implementation. The rules also raised the minimum ratio of Tier 1 capital to risk-weighted assets from 4% to 6% and include a minimum leverage ratio of 4% for all banking organizations. Regarding the quality of capital, the new rules emphasize CET1 capital and implements strict eligibility criteria for regulatory capital instruments. The new rules also improve the methodology for calculating risk-weighted assets to enhance risk sensitivity. The new rules are subject to a four year phase in period for mandatory compliance and the Company was required to begin to phase in the new rules beginning on January 1, 2015. The Company had a CET1 to risk-weighted assets ratio of 16.13% on June 30, 2015. The Company had a Tier 1 capital to average total asset (leverage) ratio of 12.64% and 12.33%, risk-weighted Tier 1 capital ratio of 18.19% and 19.34% and risk-weighted total capital ratio of 18.96% and 20.24% at June 30, 2015 and December 31, 2014, respectively. The Company’s CET1 capital consists of common stock and related surplus, net of treasury stock, and retained earnings. The Company and its subsidiary banks elected to opt-out of the requirement to include most components of accumulated other comprehensive income (loss) in the calculation of CET1 capital. CET1 is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities and subject to transition provisions. Tier 1 capital includes CET1 capital and additional Tier 1 capital. Additional Tier 1 capital of the Company includes the Capital Securities issued by the Trusts up to a maximum of 25% of Tier 1 capital on an aggregate basis. Any amount that exceeds the 25% threshold qualifies as Tier 2 capital. As of June 30, 2015, the total of $175,416 000 of the Capital Securities outstanding qualified as Tier 1 capital. The Company actively monitors the regulatory capital ratios to ensure that the Company’s bank subsidiaries are well capitalized under the regulatory framework. The CET1 (beginning in 2015), Tier 1 and Total capital ratios are calculated by dividing the respective capital amounts by risk-weighted assets. Risk-weighted assets are calculated based on regulatory requirements and include total assets, excluding goodwill and other intangible assets, allocated by risk weight category, and certain off-balance-sheet items, among other things. The leverage ratio is calculated by dividing Tier 1 capital by adjusted quarterly average total assets, which exclude goodwill and other intangible assets, among other things. The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of CET1 capital to risk-weighted assets above the minimum but below the conservation buffer will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. As of June 30, 2015, capital levels at the Company exceed all capital adequacy requirements under the Basel III Capital Rules as currently applicable to the Company. Based on the ratios presented above, capital levels as of June 30, 2015 at the Company exceed the minimum levels necessary to be considered “well capitalized.” The Company and its subsidiary banks are subject to the regulatory capital requirements administered by the Federal Reserve, and, for the subsidiary banks, the FDIC. Regulatory authorities can initiate certain mandatory actions if the Company or any of the subsidiary banks fail to meet the minimum capital requirements, which could have a direct material effect on our financial statements. Management believes, as of June 30, 2015, that the Company and each of its subsidiary banks meet all capital adequacy requirements to which they are subject.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements
Assets and liabilities measured at fair value on a recurring basis	Fair Value Measurements at Reporting Date Using (Dollars in Thousands) Assets/Liabilities Measured at Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 30, 2015 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale securities Residential mortgage-backed securities $ $ — $ $ States and political subdivisions — — Other — — $ $ $ $ Fair Value Measurements at Reporting Date Using (Dollars in Thousands) Quoted Prices Assets/Liabilities Measured at Fair Value December 31, in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs 2014 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale securities Residential mortgage-backed securities $ $ — $ $ States and political subdivisions — — Other — — $ $ $ $
Reconciliation of activity for mortgage-backed securities on a net basis	The following table presents a reconciliation of activity for such mortgage-backed securities on a net basis (Dollars in Thousands): Balance at December 31, 2014 $ Principal paydowns ) Total unrealized losses included in: Other comprehensive income Impairment realized ) Balance at June 30, 2015 $
Assets measured at fair value on a non-recurring basis	Fair Value Measurements at Reporting Date Using (Dollars in Thousands) Assets/Liabilities Measured at Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Net (Credit) Provision During June 30, 2015 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Impaired loans $ $ — $ — $ $ ) Other real estate owned — — Fair Value Measurements at Reporting Date Using (Dollars in Thousands) Assets/Liabilities Measured at Fair Value December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Net (Credit) Provision During the 2014 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Impaired loans $ $ — $ — $ $ ) Other real estate owned — —

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2015
Loans
Summary of loans, by loan type	June 30, December 31, 2015 2014 (Dollars in Thousands) Commercial, financial and agricultural $ $ Real estate — mortgage Real estate — construction Consumer Foreign Total loans $ $

Allowance for Probable Loan L22

Allowance for Probable Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2015
Allowance for Probable Loan Losses
Summary of the transactions in the allowance for probable loan losses by loan class	Three Months Ended June 30, 2015 Domestic Foreign Commercial Commercial Real Estate: Other Construction & Land Development Commercial Real Estate: Farmland & Commercial Commercial Real Estate: Multifamily Residential: First Lien Residential: Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at March 31, $ $ $ $ $ $ $ $ $ Losses charge to allowance ) ) ) — ) ) ) — ) Recoveries credited to allowance — Net (losses) recoveries charged to allowance ) ) ) — ) ) Provision charged to operations ) ) ) ) Balance at June 30, $ $ $ $ $ $ $ $ $ Three Months Ended June 30, 2014 Domestic Foreign Commercial Commercial Real Estate: Other Construction & Land Development Commercial Real Estate: Farmland & Commercial Commercial Real Estate: Multifamily Residential: First Lien Residential: Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at March 31, $ $ $ $ $ $ $ $ $ Losses charge to allowance ) ) ) — ) ) ) ) ) Recoveries credited to allowance — — Net (losses) recoveries charged to allowance ) ) ) — ) ) ) ) Provision charged to operations ) ) Balance at June 30, $ $ $ $ $ $ $ $ $ Six Months Ended June 30, 2015 Domestic Foreign Commercial Commercial Real Estate: Other Construction & Land Development Commercial Real Estate: Farmland & Commercial Commercial Real Estate: Multifamily Residential: First Lien Residential: Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at December 31, $ $ $ $ $ $ $ $ $ Losses charge to allowance ) ) ) — ) ) ) — ) Recoveries credited to allowance — Net (losses) recoveries charged to allowance ) ) — ) ) ) Provision charged to operations ) ) ) ) Balance at June 30, $ $ $ $ $ $ $ $ $ Six Months Ended June 30, 2014 Domestic Foreign Commercial Commercial Real Estate: Other Construction & Land Development Commercial Real Estate: Farmland & Commercial Commercial Real Estate: Multifamily Residential: First Lien Residential: Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at December 31, $ $ $ $ $ $ $ $ $ Losses charge to allowance ) ) ) — ) ) ) ) ) Recoveries credited to allowance — Net losses charged to allowance ) ) ) — ) ) ) ) ) Provision charged to operations ) ) Balance at June 30, $ $ $ $ $ $ $ $ $
Loans individually or collectively evaluated for their impairment and related allowance, by loan class	June 30, 2015 (Dollars in Thousands) Loans individually evaluated for impairment Loans collectively evaluated for impairment Recorded Investment Allowance Recorded Investment Allowance Domestic Commercial $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien — Residential: junior lien — Consumer — Foreign — Total $ $ $ $ December 31, 2014 (Dollars in Thousands) Loans individually evaluated for impairment Loans collectively evaluated for impairment Recorded Investment Allowance Recorded Investment Allowance Domestic Commercial $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien — Residential: junior lien — Consumer — Foreign — — Total $ $ $ $
Loans accounted on non-accrual basis, by loan class	June 30, 2015 December 31, 2014 (Dollars in Thousands) Domestic Commercial $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily Residential: first lien Residential: junior lien Consumer Total non-accrual loans $ $
Impaired loans, by loan class	June 30, 2015 Quarter to Date Year to Date Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Recognized Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ $ $ $ $ — $ $ — Commercial real estate: other construction & land development — — Commercial real estate: farmland & commercial Total impaired loans with related allowance $ $ $ $ $ $ $ June 30, 2015 Quarter to Date Year to Date Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Recognized Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ $ $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial — — Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign Total impaired loans with no related allowance $ $ $ $ $ $ December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ $ $ $ $ — Commercial real estate: other construction & land development — Commercial real estate: farmland & commercial Total impaired loans with related allowance $ $ $ $ $ December 31, 2014 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial — Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign — — — — Total impaired loans with no related allowance $ $ $ $ The following tables detail key information regarding the Company’s average recorded investment in and interest recognized on impaired loans by loan class at June 30, 2014: June 30, 2014 Quarter to Date Year to Date Average Recorded Investment Interest Recognized Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ $ — $ $ — Commercial real estate: other construction & land development — — Commercial real estate: farmland & commercial Total impaired loans with related allowance $ $ $ $ June 30, 2014 Quarter to Date Year to Date Average Recorded Investment Interest Recognized Average Recorded Investment Interest Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial — — Commercial real estate: multifamily — — Residential: first lien Residential: junior lien Consumer Foreign Total impaired loans with no related allowance $ $ $ $
Loans accounted for as trouble debt restructuring, by loan class	June 30, 2015 December 31, 2014 (Dollars in Thousands) Domestic Commercial $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign — Total troubled debt restructuring $ $
Information regarding the aging of past due loans, by loan class	June 30, 2015 30 — 59 Days 60 — 89 Days 90 Days or Greater 90 Days or Greater & Still Accruing Total Past Due Current Total Portfolio (Dollars in Thousands) Domestic Commercial $ $ $ $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign Total $ $ $ $ $ $ $ December 31, 2014 30 — 59 Days 60 — 89 Days 90 Days or Greater 90 Days or Greater & Still Accruing Total Past Due Current Total Portfolio (Dollars in Thousands) Domestic Commercial $ $ $ $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — Residential: first lien Residential: junior lien Consumer Foreign Total past due loans $ $ $ $ $ $ $
Summary of the loan portfolio by credit quality indicator, by loan class	June 30, 2015 Pass Special Review Watch List - Pass Watch List - Substandard Watch List - Impaired (Dollars in Thousands) Domestic Commercial $ $ — $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — — Residential: first lien — Residential: junior lien — — Consumer — — — Foreign — — — Total $ $ $ $ $ December 31, 2014 Pass Special Review Watch List - Pass Watch List - Substandard Watch List - Impaired (Dollars in Thousands) Domestic Commercial $ $ $ $ $ Commercial real estate: other construction & land development Commercial real estate: farmland & commercial Commercial real estate: multifamily — — Residential: first lien — Residential: junior lien — — Consumer — — Foreign — — — — Total $ $ $ $ $

Stock Options (Tables)

Stock Options (Tables)	6 Months Ended
	Jun. 30, 2015
Stock Options
Summary of option activity under stock option plans	Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($) (Dollars in Thousands) Options outstanding at December 31, 2014 $ Plus: Options granted Less: Options exercised Options expired Options forfeited Options outstanding at June 30, 2015 $ Options fully vested and exercisable at June 30, 2015 $ $

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2015
Investment Securities
Amortized cost and estimated fair value by type of investment security	The amortized cost and estimated fair value by type of investment security at June 30, 2015 are as follows: Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Carrying Value (Dollars in Thousands) Other securities $ $ — $ — $ $ Total investment securities $ $ — $ — $ $ Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Carrying Value(1) (Dollars in Thousands) Residential mortgage-backed securities $ $ $ ) $ $ Obligations of states and political subdivisions ) Equity securities ) Total investment securities $ $ $ ) $ $ (1) Included in the carrying value of residential mortgage-backed securities are $1,367,593 of mortgage-backed securities issued by Ginnie Mae, $2,974,777 of mortgage-backed securities issued by Fannie Mae and Freddie Mac and $22,696 issued by non-government entities The amortized cost and estimated fair value by type of investment security at December 31, 2014 are as follows: Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Carrying Value (Dollars in Thousands) Other securities $ $ — $ — $ $ Total investment securities $ $ — $ — $ $ Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Carrying Value(1) (Dollars in Thousands) Residential mortgage-backed securities $ $ $ ) $ $ Obligations of states and political subdivisions ) Equity securities ) Total investment securities $ $ $ ) $ $ (1) Included in the carrying value of residential mortgage-backed securities are $1,503,774 of mortgage-backed securities issued by Ginnie Mae, $3,072,535 of mortgage-backed securities issued by Fannie Mae and Freddie Mac and $24,063 issued by non-government entities
Amortized cost and fair value of investment securities, by contractual maturity	Held to Maturity Available for Sale Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (Dollars in Thousands) Due in one year or less $ — $ — $ — $ — Due after one year through five years — — Due after five years through ten years — — Due after ten years — — Residential mortgage-backed securities — — Equity securities — — Total investment securities $ $ $ $
Gross unrealized losses on investment securities and the related fair value	Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2015, were as follows: Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Available for sale: Residential mortgage-backed securities $ $ ) $ $ ) $ $ ) Obligations of states and political subdivisions ) ) ) Equity securities ) ) ) $ $ ) $ $ ) $ $ ) Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2014 were as follows: Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Available for sale: Residential mortgage-backed securities $ $ ) $ $ ) $ $ ) Obligations of states and political subdivisions ) ) ) Equity securities ) ) ) $ $ ) $ $ ) $ $ )
Reconciliation of credit-related impairment charges on available-for-sale investment	The following table presents a reconciliation of credit-related impairment charges on available-for-sale investments recognized in earnings for the three months ended June 30, 2015 (Dollars in Thousands): Balance at March 31, 2015 $ Impairment charges recognized during period Balance at June 30, 2015 $ The following table presents a reconciliation of credit-related impairment charges on available-for-sale investments recognized in earnings for the six months ended June 30, 2015 (Dollars in Thousands): Balance at December 31, 2014 $ Impairment charges recognized during period Balance at June 30, 2015 $ The following table presents a reconciliation of credit-related impairment charges on available-for-sale investment recognized in earnings for the three months ended June 30, 2014 (Dollars in Thousands): Balance at March 31, 2014 $ Impairment charges recognized during period Balance at June 30, 2014 $ The following table presents a reconciliation of credit-related impairment charges on available-for-sale investment recognized in earnings for the six months ended June 30, 2014 (Dollars in Thousands): Balance at December 31, 2013 $ Impairment charges recognized during period Balance at June 30, 2014 $

Junior Subordinated Interest 25

Junior Subordinated Interest Deferrable Debentures (Tables)	6 Months Ended
	Jun. 30, 2015
Junior Subordinated Interest Deferrable Debentures
Junior subordinated deferrable interest debentures, major types of business trusts	The following table illustrates key information about each of the Capital and Common Securities and their interest rate at June 30, 2015: Junior Subordinated Deferrable Interest Debentures Repricing Frequency Interest Rate Interest Rate Index (1) Maturity Date Optional Redemption Date(1) (Dollars in Thousands) Trust VI $ Quarterly % LIBOR + 3.45 November 2032 February 2008 Trust VIII Quarterly % LIBOR + 3.05 October 2033 October 2008 Trust IX Quarterly % LIBOR + 1.62 October 2036 October 2011 Trust X Quarterly % LIBOR + 1.65 February 2037 February 2012 Trust XI Quarterly % LIBOR + 1.62 July 2037 July 2012 Trust XII Quarterly % LIBOR + 1.45 September 2037 September 2012 $ (1) The Capital Securities may be redeemed in whole or in part on any interest payment date after the Optional Redemption Date.

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2015item
Basis of Presentation
Number of operating segments	1
Number of active operating bank subsidiaries	4

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Estimated fair value, Available for sale securities	$ 4,673,472	$ 4,911,963
Measured on a recurring basis: | Assets/Liabilities Measured at Fair Value
Assets:
Estimated fair value, Available for sale securities	4,673,472	4,911,963
Measured on a recurring basis: | Assets/Liabilities Measured at Fair Value | Residential mortgage-backed securities
Assets:
Estimated fair value, Available for sale securities	4,365,066	4,600,372
Measured on a recurring basis: | Assets/Liabilities Measured at Fair Value | States and political subdivisions
Assets:
Estimated fair value, Available for sale securities	279,296	282,276
Measured on a recurring basis: | Assets/Liabilities Measured at Fair Value | Other
Assets:
Estimated fair value, Available for sale securities	29,110	29,315
Measured on a recurring basis: | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Estimated fair value, Available for sale securities	29,110	29,315
Measured on a recurring basis: | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other
Assets:
Estimated fair value, Available for sale securities	29,110	29,315
Measured on a recurring basis: | Significant Other Observable Inputs (Level 2)
Assets:
Estimated fair value, Available for sale securities	4,621,666	4,858,585
Measured on a recurring basis: | Significant Other Observable Inputs (Level 2) | Residential mortgage-backed securities
Assets:
Estimated fair value, Available for sale securities	4,342,370	4,576,309
Measured on a recurring basis: | Significant Other Observable Inputs (Level 2) | States and political subdivisions
Assets:
Estimated fair value, Available for sale securities	279,296	282,276
Measured on a recurring basis: | Significant Unobservable Inputs (Level 3)
Assets:
Estimated fair value, Available for sale securities	22,696	24,063
Measured on a recurring basis: | Significant Unobservable Inputs (Level 3) | Residential mortgage-backed securities
Assets:
Estimated fair value, Available for sale securities	$ 22,696	$ 24,063

Fair Value Measurements (Deta28

Fair Value Measurements (Details 2) - Residential mortgage-backed securities $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Reconciliation of activity for mortgage-backed securities on a net basis
Balance at the beginning of the period	$ 24,063
Principal paydowns	(1,543)
Total unrealized losses included in:
Other comprehensive income	627
Impairment realized	(451)
Balance at the end of the period	$ 22,696

Fair Value Measurements (Deta29

Fair Value Measurements (Details 3) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Assets:
Impaired Loans	$ 49,689,000	$ 65,551,000
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Charges to allowance for probable loan losses in connection with other real estate owned	937,000	367,000
Adjustment to fair value in connection with other real estate owned	118,000	597,000
Impaired commercial collateral dependent loans	49,689,000	65,551,000
Impaired commercial collateral dependent receivables appraisals to determine fair value within immediately preceding twelve months	37,460,000	52,092,000
Impaired collateral dependent commercial loans with an internal evaluation completed in the last twelve months	$ 2,983,000	$ 5,307,000
Significant Unobservable Inputs (Level 3) | Bond meeting the original contract terms
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Minimum period of residential mortgage loan performance under original contract terms	24 months	24 months
Estimated future principal prepayment rate assumption, low end of range (as a percent)	7.00%	7.00%
Default rate assumptions (as a percent)	1.00%	1.00%
Loss severity rate assumptions, first year (as a percent)	25.00%	25.00%
Estimated future principal prepayment rate assumption, discount rate (as a percent)	13.00%	13.00%
Significant Unobservable Inputs (Level 3) | Bond not meeting the original contract terms
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Estimated future principal prepayment rate assumption, low end of range (as a percent)	2.00%	2.00%
Default rate assumptions (as a percent)	4.50%	4.50%
Loss severity rate assumptions, first year (as a percent)	60.00%	60.00%
Decrease in loss severity rates, following five years (as a percent)	5.00%	5.00%
Loss severity rate, thereafter (as a percent)	25.00%	25.00%
Estimated future principal prepayment rate assumption, discount rate (as a percent)	13.00%	13.00%
Measured on a non-recurring basis:
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Change in net provision, impaired loans	$ (7,948,000)	$ (1,557,000)
Change in net provision, other real estate owned	118,000	597,000
Measured on a non-recurring basis: | Assets/Liabilities Measured at Fair Value
Assets:
Impaired Loans	16,547,000	29,501,000
Non-financial assets:
Other real estate owned	1,888,000	6,112,000
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Impaired commercial collateral dependent loans	16,547,000	29,501,000
Measured on a non-recurring basis: | Significant Unobservable Inputs (Level 3)
Assets:
Impaired Loans	16,547,000	29,501,000
Non-financial assets:
Other real estate owned	1,888,000	6,112,000
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Impaired commercial collateral dependent loans	$ 16,547,000	$ 29,501,000

Fair Value Measurements (Deta30

Fair Value Measurements (Details 4)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)item
Deposits
Carrying amount of time deposits	$ 2,443,281,000	$ 2,482,692,000
Other borrowed funds
Number of long-term borrowing outstanding | item		1
Significant Unobservable Inputs (Level 3)
Loans
Carrying amount of fixed rate performing loans	1,360,880,000	$ 1,352,147,000
Estimated fair value of fixed rate performing loans	1,293,326,000	1,285,648,000
Deposits
Carrying amount of time deposits	2,443,281,000	2,482,692,000
Estimated fair value of time deposits	2,441,495,000	2,480,390,000
Securities Sold Under Repurchase Agreements
Carrying amount of long-term repurchase agreements	610,000,000	610,000,000
Estimated fair value of long-term repurchase agreements	$ 563,796,100	558,097,100
Significant Other Observable Inputs (Level 2)
Other borrowed funds
Carrying amount of the long-term FHLB borrowings		6,244,000
Estimated fair value of long-term FHLB borrowings		$ 6,645,000

Loans (Details)

Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Summary of loans, by loan type
Total loans	$ 5,774,462	$ 5,679,245
Commercial, financial and agricultural
Summary of loans, by loan type
Total loans	3,042,236	3,107,584
Real estate - mortgage
Summary of loans, by loan type
Total loans	928,230	910,326
Commercial Real Estate: Other Construction and Land Development
Summary of loans, by loan type
Total loans	1,556,880	1,414,977
Consumer
Summary of loans, by loan type
Total loans	57,966	61,137
Foreign
Summary of loans, by loan type
Total loans	$ 189,150	$ 185,221

Allowance for Probable Loan L32

Allowance for Probable Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Allowance for probable loan losses
Balance at the beginning of the period	$ 66,251	$ 70,408	$ 64,828	$ 70,161
Losses charged to allowance	(14,342)	(3,327)	(17,029)	(6,171)
Recoveries credited to allowance	862	811	2,595	1,824
Net (losses) recoveries charged to allowance	(13,480)	(2,516)	(14,434)	(4,347)
Provision charged to operations	7,767	3,645	10,144	5,723
Balance at the end of the period	60,538	71,537	60,538	71,537
Commercial
Allowance for probable loan losses
Balance at the beginning of the period	23,519	27,923	22,352	22,433
Losses charged to allowance	(13,073)	(2,379)	(15,382)	(4,860)
Recoveries credited to allowance	534	620	1,330	1,416
Net (losses) recoveries charged to allowance	(12,539)	(1,759)	(14,052)	(3,444)
Provision charged to operations	7,922	1,842	10,602	9,017
Balance at the end of the period	18,902	28,006	18,902	28,006
Commercial Real Estate: Other Construction and Land Development
Allowance for probable loan losses
Balance at the beginning of the period	14,369	13,475	12,955	12,541
Losses charged to allowance	(685)	(399)	(685)	(399)
Recoveries credited to allowance	38	21	39	52
Net (losses) recoveries charged to allowance	(647)	(378)	(646)	(347)
Provision charged to operations	(198)	(91)	1,215	812
Balance at the end of the period	13,524	13,006	13,524	13,006
Commercial real estate: farmland and commercial
Allowance for probable loan losses
Balance at the beginning of the period	17,976	18,934	18,683	24,467
Losses charged to allowance	(339)	(170)	(356)	(170)
Recoveries credited to allowance	7	35	813	58
Net (losses) recoveries charged to allowance	(332)	(135)	457	(112)
Provision charged to operations	241	739	(1,255)	(4,817)
Balance at the end of the period	17,885	19,538	17,885	19,538
Commercial real estate: multifamily
Allowance for probable loan losses
Balance at the beginning of the period	840	819	846	776
Provision charged to operations	(155)	(33)	(161)	10
Balance at the end of the period	685	786	685	786
Residential: first lien
Allowance for probable loan losses
Balance at the beginning of the period	3,573	3,524	3,589	3,812
Losses charged to allowance	(1)	(103)	(91)	(130)
Recoveries credited to allowance	10	1	24	5
Net (losses) recoveries charged to allowance	9	(102)	(67)	(125)
Provision charged to operations	(148)	299	(88)	34
Balance at the end of the period	3,434	3,721	3,434	3,721
Residential: junior lien
Allowance for probable loan losses
Balance at the beginning of the period	4,261	3,968	4,683	4,249
Losses charged to allowance	(5)	(7)	(102)	(153)
Recoveries credited to allowance	145	67	251	100
Net (losses) recoveries charged to allowance	140	60	149	(53)
Provision charged to operations	(93)	708	(524)	540
Balance at the end of the period	4,308	4,736	4,308	4,736
Consumer
Allowance for probable loan losses
Balance at the beginning of the period	644	748	660	750
Losses charged to allowance	(239)	(222)	(413)	(409)
Recoveries credited to allowance	124	67	130	147
Net (losses) recoveries charged to allowance	(115)	(155)	(283)	(262)
Provision charged to operations	96	113	248	218
Balance at the end of the period	625	706	625	706
Foreign
Allowance for probable loan losses
Balance at the beginning of the period	1,069	1,017	1,060	1,133
Losses charged to allowance		(47)		(50)
Recoveries credited to allowance	4		8	46
Net (losses) recoveries charged to allowance	4	(47)	8	(4)
Provision charged to operations	102	68	107	(91)
Balance at the end of the period	$ 1,175	$ 1,038	$ 1,175	$ 1,038

Allowance for Probable Loan L33

Allowance for Probable Loan Losses (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	$ 58,531	$ 76,171
Loans individually evaluated for impairment, Allowance	2,847	12,221
Loans collectively evaluated for impairment, Recorded Investment	5,715,931	5,603,074
Loans collectively evaluated for impairment, Allowance	57,691	52,607
Commercial
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	33,198	40,175
Loans individually evaluated for impairment, Allowance	1,200	9,112
Loans collectively evaluated for impairment, Recorded Investment	997,370	1,049,311
Loans collectively evaluated for impairment, Allowance	17,702	13,240
Commercial Real Estate: Other Construction and Land Development
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	6,688	10,876
Loans individually evaluated for impairment, Allowance	1,142	1,890
Loans collectively evaluated for impairment, Recorded Investment	1,550,192	1,404,101
Loans collectively evaluated for impairment, Allowance	12,382	11,065
Commercial real estate: farmland and commercial
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	9,629	14,166
Loans individually evaluated for impairment, Allowance	505	1,219
Loans collectively evaluated for impairment, Recorded Investment	1,908,036	1,887,233
Loans collectively evaluated for impairment, Allowance	17,380	17,464
Commercial real estate: multifamily
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	827	835
Loans collectively evaluated for impairment, Recorded Investment	93,176	115,864
Loans collectively evaluated for impairment, Allowance	685	846
Residential: first lien
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	5,372	5,840
Loans collectively evaluated for impairment, Recorded Investment	409,091	416,186
Loans collectively evaluated for impairment, Allowance	3,434	3,589
Residential: junior lien
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	1,260	2,895
Loans collectively evaluated for impairment, Recorded Investment	512,507	485,405
Loans collectively evaluated for impairment, Allowance	4,308	4,683
Consumer
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	1,158	1,384
Loans collectively evaluated for impairment, Recorded Investment	56,808	59,753
Loans collectively evaluated for impairment, Allowance	625	660
Foreign
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans individually evaluated for impairment, Recorded Investment	399
Loans collectively evaluated for impairment, Recorded Investment	188,751	185,221
Loans collectively evaluated for impairment, Allowance	$ 1,175	$ 1,060

Allowance for Probable Loan L34

Allowance for Probable Loan Losses (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Loan loss allowances, financing receivable past due
Non-accrual loans, total	$ 46,227	$ 63,559
Commercial
Loan loss allowances, financing receivable past due
Non-accrual loans, total	33,145	40,121
Commercial Real Estate: Other Construction and Land Development
Loan loss allowances, financing receivable past due
Non-accrual loans, total	4,434	8,621
Commercial real estate: farmland and commercial
Loan loss allowances, financing receivable past due
Non-accrual loans, total	7,366	11,903
Commercial real estate: multifamily
Loan loss allowances, financing receivable past due
Non-accrual loans, total	806	835
Residential: first lien
Loan loss allowances, financing receivable past due
Non-accrual loans, total	422	527
Residential: junior lien
Loan loss allowances, financing receivable past due
Non-accrual loans, total	19	1,523
Consumer
Loan loss allowances, financing receivable past due
Non-accrual loans, total	$ 35	$ 29

Allowance for Probable Loan L35

Allowance for Probable Loan Losses (Details 4) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Interest Recognized
Total trouble debt restructuring	$ 15,287		$ 15,287		$ 15,653
Period of charge off for past due unsecured commercial loans			90 days
Class of financing receivable
Recorded investment:
Total impaired loans with related allowance	18,811		$ 18,811		31,765
Total impaired loans with no related allowance	39,720		39,720		44,406
Unpaid principal balance:
Total impaired loans with an allowance recorded	29,094		29,094		32,232
Total impaired loans with no related allowance recorded	42,088		42,088		46,262
Related Allowance	2,847		2,847		12,221
Average recorded investment:
Total impaired loans with an allowance recorded	22,306	$ 30,955	27,126	$ 30,882	33,286
Total impaired loans with no related allowance recorded	39,723	45,663	40,606	44,882	43,202
Interest Recognized
Total impaired loans with an allowance recorded	23	23	46	46	92
Total impaired loans with no related allowance recorded	105	114	212	224	444
Commercial
Interest Recognized
Total trouble debt restructuring	2,446		2,446		2,500
Commercial | Class of financing receivable
Recorded investment:
Total impaired loans with related allowance	11,780		11,780		19,944
Total impaired loans with no related allowance	21,418		21,418		20,231
Unpaid principal balance:
Total impaired loans with an allowance recorded	21,862		21,862		20,026
Total impaired loans with no related allowance recorded	22,303		22,303		20,260
Related Allowance	1,200		1,200		9,112
Average recorded investment:
Total impaired loans with an allowance recorded	15,121	17,685	17,828	17,486	19,313
Total impaired loans with no related allowance recorded	20,752	20,347	20,288	18,704	18,563
Interest Recognized
Total impaired loans with no related allowance recorded	1	1	2	2	4
Commercial Real Estate: Other Construction and Land Development
Interest Recognized
Total trouble debt restructuring	2,254		2,254		2,254
Commercial Real Estate: Other Construction and Land Development | Class of financing receivable
Recorded investment:
Total impaired loans with related allowance	3,502		3,502		6,714
Total impaired loans with no related allowance	3,186		3,186		4,162
Unpaid principal balance:
Total impaired loans with an allowance recorded	3,502		3,502		6,949
Total impaired loans with no related allowance recorded	3,499		3,499		4,270
Related Allowance	1,142		1,142		1,890
Average recorded investment:
Total impaired loans with an allowance recorded	3,652	6,896	4,988	6,897	7,183
Total impaired loans with no related allowance recorded	3,291	5,226	3,451	6,014	4,882
Interest Recognized
Total impaired loans with no related allowance recorded	19	19	37	37	74
Commercial real estate: farmland and commercial
Interest Recognized
Total trouble debt restructuring	2,853		2,853		2,861
Commercial real estate: farmland and commercial | Class of financing receivable
Recorded investment:
Total impaired loans with related allowance	3,529		3,529		5,107
Total impaired loans with no related allowance	6,100		6,100		9,059
Unpaid principal balance:
Total impaired loans with an allowance recorded	3,730		3,730		5,257
Total impaired loans with no related allowance recorded	7,191		7,191		10,562
Related Allowance	505		505		1,219
Average recorded investment:
Total impaired loans with an allowance recorded	3,533	6,374	4,310	6,499	6,790
Total impaired loans with no related allowance recorded	6,688	8,854	7,778	8,755	8,664
Interest Recognized
Total impaired loans with an allowance recorded	23	23	46	46	92
Commercial real estate: multifamily
Interest Recognized
Total trouble debt restructuring	21		21
Commercial real estate: multifamily | Class of financing receivable
Recorded investment:
Total impaired loans with no related allowance	827		827		835
Unpaid principal balance:
Total impaired loans with no related allowance recorded	827		827		835
Average recorded investment:
Total impaired loans with no related allowance recorded	832	270	839	278	363
Interest Recognized
Total impaired loans with no related allowance recorded			1
Residential: first lien
Interest Recognized
Total trouble debt restructuring	4,950		4,950		5,313
Residential: first lien | Class of financing receivable
Recorded investment:
Total impaired loans with no related allowance	5,372		5,372		5,840
Unpaid principal balance:
Total impaired loans with no related allowance recorded	5,430		5,430		6,034
Average recorded investment:
Total impaired loans with no related allowance recorded	5,289	6,057	5,329	6,172	6,293
Interest Recognized
Total impaired loans with no related allowance recorded	61	64	123	127	273
Residential: junior lien
Interest Recognized
Total trouble debt restructuring	1,241		1,241		1,371
Residential: junior lien | Class of financing receivable
Recorded investment:
Total impaired loans with no related allowance	1,260		1,260		2,895
Unpaid principal balance:
Total impaired loans with no related allowance recorded	1,281		1,281		2,915
Average recorded investment:
Total impaired loans with no related allowance recorded	1,317	3,114	1,346	3,124	3,035
Interest Recognized
Total impaired loans with no related allowance recorded	19	24	39	47	90
Consumer
Interest Recognized
Total trouble debt restructuring	1,123		1,123		1,354
Consumer | Class of financing receivable
Recorded investment:
Total impaired loans with no related allowance	1,158		1,158		1,384
Unpaid principal balance:
Total impaired loans with no related allowance recorded	1,158		1,158		1,386
Average recorded investment:
Total impaired loans with no related allowance recorded	1,153	1,369	1,171	1,406	1,402
Interest Recognized
Total impaired loans with no related allowance recorded	1	1	1	2	$ 3
Foreign
Interest Recognized
Total trouble debt restructuring	399		399
Foreign | Class of financing receivable
Recorded investment:
Total impaired loans with no related allowance	399		399
Unpaid principal balance:
Total impaired loans with no related allowance recorded	399		399
Average recorded investment:
Total impaired loans with no related allowance recorded	401	426	404	429
Interest Recognized
Total impaired loans with no related allowance recorded	$ 4	$ 5	$ 9	$ 9

Allowance for Probable Loan L36

Allowance for Probable Loan Losses (Details 5) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing receivable recorded investment
Past due 30-59 days	$ 20,694	$ 17,261
Past due 60-89 days	19,862	12,215
Past due 90 days or greater	43,853	67,770
Past due 90 days or greater and still accruing	8,281	9,988
Past due, total	84,409	97,246
Loans, current	5,690,053	5,581,999
Total loans	5,774,462	5,679,245
Commercial
Financing receivable recorded investment
Past due 30-59 days	8,944	4,103
Past due 60-89 days	5,505	2,665
Past due 90 days or greater	28,454	40,665
Past due 90 days or greater and still accruing	1,173	2,890
Past due, total	42,903	47,433
Loans, current	987,665	1,042,053
Total loans	1,030,568	1,089,486
Commercial Real Estate: Other Construction and Land Development
Financing receivable recorded investment
Past due 30-59 days	734	596
Past due 60-89 days	7,049	10
Past due 90 days or greater	4,312	8,707
Past due 90 days or greater and still accruing	10	439
Past due, total	12,095	9,313
Loans, current	1,544,785	1,405,664
Total loans	1,556,880	1,414,977
Commercial real estate: farmland and commercial
Financing receivable recorded investment
Past due 30-59 days	3,791	2,905
Past due 60-89 days	3,525	7,131
Past due 90 days or greater	4,257	10,724
Past due 90 days or greater and still accruing	1,371	1,711
Past due, total	11,573	20,760
Loans, current	1,906,092	1,880,639
Total loans	1,917,665	1,901,399
Commercial real estate: multifamily
Financing receivable recorded investment
Past due 30-59 days	200	351
Past due 90 days or greater	1,268	856
Past due 90 days or greater and still accruing	461	21
Past due, total	1,468	1,207
Loans, current	92,535	115,492
Total loans	94,003	116,699
Residential: first lien
Financing receivable recorded investment
Past due 30-59 days	4,648	5,895
Past due 60-89 days	2,392	1,864
Past due 90 days or greater	4,158	4,267
Past due 90 days or greater and still accruing	3,895	3,901
Past due, total	11,198	12,026
Loans, current	403,265	410,000
Total loans	414,463	422,026
Residential: junior lien
Financing receivable recorded investment
Past due 30-59 days	698	899
Past due 60-89 days	207	231
Past due 90 days or greater	405	1,931
Past due 90 days or greater and still accruing	405	431
Past due, total	1,310	3,061
Loans, current	512,457	485,239
Total loans	513,767	488,300
Consumer
Financing receivable recorded investment
Past due 30-59 days	786	896
Past due 60-89 days	199	216
Past due 90 days or greater	314	507
Past due 90 days or greater and still accruing	281	482
Past due, total	1,299	1,619
Loans, current	56,667	59,518
Total loans	57,966	61,137
Foreign
Financing receivable recorded investment
Past due 30-59 days	893	1,616
Past due 60-89 days	985	98
Past due 90 days or greater	685	113
Past due 90 days or greater and still accruing	685	113
Past due, total	2,563	1,827
Loans, current	186,587	183,394
Total loans	$ 189,150	$ 185,221

Allowance for Probable Loan L37

Allowance for Probable Loan Losses (Details 6) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Loan portfolio by credit quality indicator
Portfolio, total	$ 5,774,462	$ 5,679,245
Pass
Loan portfolio by credit quality indicator
Portfolio, total	5,436,564	5,328,410
Special Review
Loan portfolio by credit quality indicator
Portfolio, total	4,734	54,561
Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	49,174	37,674
Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	225,459	182,429
Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	58,531	76,171
Commercial
Loan portfolio by credit quality indicator
Portfolio, total	1,030,568	1,089,486
Commercial | Pass
Loan portfolio by credit quality indicator
Portfolio, total	892,149	961,490
Commercial | Special Review
Loan portfolio by credit quality indicator
Portfolio, total		38,382
Commercial | Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	23,033	3,793
Commercial | Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	82,188	45,646
Commercial | Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	33,198	40,175
Commercial Real Estate: Other Construction and Land Development
Loan portfolio by credit quality indicator
Portfolio, total	1,556,880	1,414,977
Commercial Real Estate: Other Construction and Land Development | Pass
Loan portfolio by credit quality indicator
Portfolio, total	1,505,229	1,353,971
Commercial Real Estate: Other Construction and Land Development | Special Review
Loan portfolio by credit quality indicator
Portfolio, total	331	1,005
Commercial Real Estate: Other Construction and Land Development | Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	5,995	10,428
Commercial Real Estate: Other Construction and Land Development | Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	38,637	38,697
Commercial Real Estate: Other Construction and Land Development | Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	6,688	10,876
Commercial real estate: farmland and commercial
Loan portfolio by credit quality indicator
Portfolio, total	1,917,665	1,901,399
Commercial real estate: farmland and commercial | Pass
Loan portfolio by credit quality indicator
Portfolio, total	1,783,224	1,754,741
Commercial real estate: farmland and commercial | Special Review
Loan portfolio by credit quality indicator
Portfolio, total	4,403	11,674
Commercial real estate: farmland and commercial | Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	19,654	23,453
Commercial real estate: farmland and commercial | Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	100,755	97,365
Commercial real estate: farmland and commercial | Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	9,629	14,166
Commercial real estate: multifamily
Loan portfolio by credit quality indicator
Portfolio, total	94,003	116,699
Commercial real estate: multifamily | Pass
Loan portfolio by credit quality indicator
Portfolio, total	93,041	115,729
Commercial real estate: multifamily | Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	135	135
Commercial real estate: multifamily | Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	827	835
Residential: first lien
Loan portfolio by credit quality indicator
Portfolio, total	414,463	422,026
Residential: first lien | Pass
Loan portfolio by credit quality indicator
Portfolio, total	405,116	412,668
Residential: first lien | Special Review
Loan portfolio by credit quality indicator
Portfolio, total		3,500
Residential: first lien | Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	492
Residential: first lien | Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	3,483	18
Residential: first lien | Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	5,372	5,840
Residential: junior lien
Loan portfolio by credit quality indicator
Portfolio, total	513,767	488,300
Residential: junior lien | Pass
Loan portfolio by credit quality indicator
Portfolio, total	512,246	484,968
Residential: junior lien | Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	261	437
Residential: junior lien | Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	1,260	2,895
Consumer
Loan portfolio by credit quality indicator
Portfolio, total	57,966	61,137
Consumer | Pass
Loan portfolio by credit quality indicator
Portfolio, total	56,808	59,622
Consumer | Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total		131
Consumer | Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	1,158	1,384
Foreign
Loan portfolio by credit quality indicator
Portfolio, total	189,150	185,221
Foreign | Pass
Loan portfolio by credit quality indicator
Portfolio, total	188,751	$ 185,221
Foreign | Watch List - Impaired
Loan portfolio by credit quality indicator
Portfolio, total	$ 399

Stock Options (Details)

Stock Options (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Apr. 05, 2012
Stock options under 2012 Plan
Stock option details
Shares available for future grants	205,000		205,000		800,000
Maximum exercisable period for options granted			10 years
Stock option activity
Options outstanding at the beginning of the period (in shares)			993,889
Plus: Options granted (in shares)			10,000
Less:
Options exercised (in shares)			40,760
Options expired (in shares)			44,075
Options forfeited (in shares)			19,221
Options outstanding at the end of the period (in shares)	899,833		899,833
Options fully vested and exercisable at the end of the period (in shares)	218,834		218,834
Stock options, weighted average exercise price
Options outstanding at the beginning, weighted average exercise price (in dollars per share)			$ 18.94
Plus: Options granted, weighted average exercise price (in dollars per share)			24.92
Less:
Options exercised, weighted average exercise price (in dollars per share)			16.01
Options expired, weighted average exercise price (in dollars per share)			26.73
Options forfeited, weighted average exercise price (in dollars per share)			16.92
Options outstanding at the end, weighted average exercise price (in dollars per share)	$ 18.76		18.76
Options fully vested and exercisable at the end, weighted average exercise price (in dollars per share)	$ 14.53		$ 14.53
Stock options, weighted average remaining contractual term
Options outstanding at the end, weighted average remaining contractual term			6 years 8 months 16 days
Options fully vested and exercisable at the end, weighted average remaining contractual term			3 years 1 month 28 days
Stock options, aggregate intrinsic value
Options outstanding at the end, aggregate intrinsic value	$ 7,297,000		$ 7,297,000
Options fully vested and exercisable at the end, aggregate intrinsic value	2,700,000		2,700,000
Stock-based compensation expense	291,000	$ 304,000	583,000	$ 465,000
Stock-based compensation cost, unrecognized, related to non-vested options	$ 3,552,000		$ 3,552,000
Stock-based compensation cost, unrecognized, related to non-vested options, weighted-average period of recognition			2 years 1 month 17 days
Incentive stock options granted to 10% shareholders
Stock option details
Maximum exercisable period for options granted			5 years

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Held-to-maturity securities
Amortized Cost	$ 2,400	$ 2,400
Estimated Fair Value	2,400	2,400
Carrying Value	2,400	2,400
Available-for-sale securities
Amortized Cost	4,660,311	4,894,428
Gross Unrealized Gains	60,665	68,516
Gross Unrealized Losses	(47,504)	(50,981)
Total investment securities	4,673,472	4,911,963
Assets/Liabilities Measured at Fair Value
Available-for-sale securities
Total investment securities	4,673,472	4,911,963
Carrying Value
Available-for-sale securities
Total investment securities	4,673,472	4,911,963
Residential mortgage-backed securities
Available-for-sale securities
Amortized Cost	4,363,026	4,597,590
Gross Unrealized Gains	42,842	47,960
Gross Unrealized Losses	(40,802)	(45,178)
Residential mortgage-backed securities | Assets/Liabilities Measured at Fair Value
Available-for-sale securities
Total investment securities	4,365,066	4,600,372
Residential mortgage-backed securities | Carrying Value
Available-for-sale securities
Total investment securities	4,365,066	4,600,372
Mortgage-backed securities by Ginnie Mae
Available-for-sale securities
Total investment securities	1,367,593	1,503,774
Mortgage-backed securities by Fannie Mae and Freddie Mac
Available-for-sale securities
Total investment securities	2,974,777	3,072,535
Mortgage-backed securities by non-government entities
Available-for-sale securities
Total investment securities	22,696	24,063
States and political subdivisions
Available-for-sale securities
Amortized Cost	269,210	268,763
Gross Unrealized Gains	16,567	19,131
Gross Unrealized Losses	(6,481)	(5,618)
States and political subdivisions | Assets/Liabilities Measured at Fair Value
Available-for-sale securities
Total investment securities	279,296	282,276
States and political subdivisions | Carrying Value
Available-for-sale securities
Total investment securities	279,296	282,276
Other securities
Held-to-maturity securities
Amortized Cost	2,400	2,400
Estimated Fair Value	2,400	2,400
Carrying Value	2,400	2,400
Other
Available-for-sale securities
Amortized Cost	28,075	28,075
Gross Unrealized Gains	1,256	1,425
Gross Unrealized Losses	(221)	(185)
Other | Assets/Liabilities Measured at Fair Value
Available-for-sale securities
Total investment securities	29,110	29,315
Other | Carrying Value
Available-for-sale securities
Total investment securities	$ 29,110	$ 29,315

Investment Securities (Details

Investment Securities (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Held-to-maturity debt securities amortized cost disclosures
Due after one year through five years, held-to-maturity debt securities amortized cost	$ 2,400,000		$ 2,400,000
Amortized cost, held-to-maturity debt securities	2,400,000		2,400,000		$ 2,400,000
Held-to-maturity debt securities, Estimated fair value disclosures
Due after one year through five years, held-to-maturity debt securities, Estimated fair value	2,400,000		2,400,000
Estimated Fair Value	2,400,000		2,400,000		2,400,000
Available-for-sale debt securities amortized cost disclosures
Due after five years through ten years, available-for-sale debt securities amortized cost	749,000		749,000
Due after ten years, available-for-sale debt securities amortized cost	268,461,000		268,461,000
Residential mortgage-backed securities, amortized cost	4,363,026,000		4,363,026,000
Equity securities, amortized cost	28,075,000		28,075,000
Amortized cost, Available for sale securities	4,660,311,000		4,660,311,000		4,894,428,000
Available for sale debt securities, Estimated Fair Value Disclosures
Due after five years through ten years, available-for-sale debt securities, Estimated Fair Value	823,000		823,000
Due after ten years, available-for-sale debt securities, Estimated Fair Value	278,473,000		278,473,000
Residential mortgage-backed securities, Estimated Fair Value	4,365,066,000		4,365,066,000
Equity securities, Estimated Fair Value	29,110,000		29,110,000
Estimated fair value, Available for sale securities	4,673,472,000		4,673,472,000		$ 4,911,963,000
Amortized cost of available for sale investment securities pledged	2,077,210,000		2,077,210,000
Fair value of available for sale investment securities pledged	2,083,921,000		2,083,921,000
Proceeds from sales and calls of available for sale securities	23,992,000	$ 110,020,000	30,282,000	$ 368,296,000
Proceeds from sales of mortgage-backed securities	23,992,000	110,020,000	23,992,000	367,641,000
Gross gains realized on sales	0	1,371,000	1,000	9,479,000
Gross losses realized on sales	427,000	1,750,000	428,000	1,750,000
Impairment charges on available-for-sale investment securities	$ 224,000	$ 189,000	$ 451,000	$ 279,000

Investment Securities (Detail41

Investment Securities (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available for sale:
Fair value, less than 12 months	$ 730,912	$ 816,979
Unrealized losses, less than 12 Months	(5,409)	(5,008)
Fair value, 12 months or more	1,587,053	1,872,077
Unrealized losses, 12 Months or More	(42,095)	(45,973)
Fair value, total	2,317,965	2,689,056
Unrealized losses, total	(47,504)	(50,981)
Residential mortgage-backed securities
Available for sale:
Fair value, less than 12 months	705,681	808,072
Unrealized losses, less than 12 Months	(5,033)	(4,910)
Fair value, 12 months or more	1,556,390	1,836,218
Unrealized losses, 12 Months or More	(35,769)	(40,268)
Fair value, total	2,262,071	2,644,290
Unrealized losses, total	(40,802)	(45,178)
States and political subdivisions
Available for sale:
Fair value, less than 12 months	20,252	8,833
Unrealized losses, less than 12 Months	(355)	(97)
Fair value, 12 months or more	25,113	27,793
Unrealized losses, 12 Months or More	(6,126)	(5,521)
Fair value, total	45,365	36,626
Unrealized losses, total	(6,481)	(5,618)
Other
Available for sale:
Fair value, less than 12 months	4,979	74
Unrealized losses, less than 12 Months	(21)	(1)
Fair value, 12 months or more	5,550	8,066
Unrealized losses, 12 Months or More	(200)	(184)
Fair value, total	10,529	8,140
Unrealized losses, total	$ (221)	$ (185)

Investment Securities (Detail42

Investment Securities (Details 4) - Available for sale investments - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reconciliation of credit-related impairment charges on investments recognized in earnings
Balance at the beginning	$ 12,850,000	$ 11,896,000	$ 12,623,000	$ 11,806,000
Impairment charges recognized during period	224,000	189,000	451,000	279,000
Balance at the end	13,074,000	12,085,000	13,074,000	12,085,000
Impairment charges, after tax, recognized during period	$ 145,600	$ 122,900	$ 293,150	$ 181,300

Other Borrowed Funds (Details)

Other Borrowed Funds (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Other Borrowed Funds
Other borrowed funds	$ 820,325	$ 1,073,944
Percentage of decrease in other borrowed funds	23.60%

Junior Subordinated Interest 44

Junior Subordinated Interest Deferrable Debentures (Details)	Jul. 29, 2015USD ($)	Dec. 24, 2014USD ($)	Feb. 11, 2014USD ($)	Jun. 30, 2015USD ($)item	Jul. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 23, 2014USD ($)
Junior subordinated deferrable interest debentures, major types of business trusts
Number of statutory business trusts issuing trust preferred securities | item				7
Junior subordinated deferrable interest debentures				$ 175,416,000		$ 175,416,000
Maximum number of consecutive quarterly period available for deferral of interest payment on Trusts VI, VII, VIII, IX, X, XI and XII | item				20
Percentage of capital securities issued by trust qualifying as Tier I capital, maximum				25.00%
Percentage of capital securities issued by trust qualifying as Tier II capital, minimum				25.00%
Capital securities issued by the trust, qualifying as Tier I capital				$ 175,416,000		$ 175,416,000
Trust VII
Junior subordinated deferrable interest debentures, major types of business trusts
Redemption price discount (as a percent)			6.00%
Retirement of capital securities			$ 10,310,000
Trust XI
Junior subordinated deferrable interest debentures, major types of business trusts
Redemption price discount (as a percent)		23.60%
Retirement of capital securities	$ 1,000,000	$ 5,000,000
Junior subordinated deferrable interest debentures	$ 27,900,000			27,990,000	$ 26,990,000		$ 32,900,000
Trust X and XI
Junior subordinated deferrable interest debentures, major types of business trusts
Redemption price discount (as a percent)	24.50%
Trust X
Junior subordinated deferrable interest debentures, major types of business trusts
Retirement of capital securities	$ 13,000,000
Junior subordinated deferrable interest debentures	$ 34,021,000			$ 34,021,000	$ 21,021,000

Junior Subordinated Interest 45

Junior Subordinated Interest Deferrable Debentures (Details 2) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015	Jul. 29, 2015	Dec. 31, 2014	Dec. 23, 2014
Junior subordinated deferrable interest debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 175,416,000			$ 175,416,000
Trust VI
Junior subordinated deferrable interest debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 25,774,000
Interest rate (as a percent)	3.72%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	3.45%
Trust VIII
Junior subordinated deferrable interest debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 25,774,000
Interest rate (as a percent)	3.33%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	3.05%
Trust IX
Junior subordinated deferrable interest debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 41,238,000
Interest rate (as a percent)	1.89%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	1.62%
Trust X
Junior subordinated deferrable interest debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 34,021,000	$ 21,021,000	$ 34,021,000
Interest rate (as a percent)	1.93%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	1.65%
Trust XI
Junior subordinated deferrable interest debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 27,990,000	$ 26,990,000	$ 27,900,000		$ 32,900,000
Interest rate (as a percent)	1.89%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	1.62%
Trust XII
Junior subordinated deferrable interest debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 20,619,000
Interest rate (as a percent)	1.73%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	1.45%

Common Stock and Dividends (Det

Common Stock and Dividends (Details) - USD ($)	Oct. 15, 2015	Apr. 17, 2015	Apr. 09, 2015	Apr. 18, 2014	Jun. 30, 2015	Jul. 31, 2015
Common Stock and Dividends
Series A cumulative perpetual preferred shares, outstanding					216,000
Warrants to purchase entity's common stock (in shares)					1,326,238
Warrants, exercise price (in dollars per share)					$ 24.43
Percentage of aggregate common stock investment on exercise of warrant to Senior Preferred Stock investment					15.00%
Warrants, term					10 years
Cash dividends (as a percent)					33.00%
Cash dividends paid to common shareholders (in dollars per share)	$ 0.27	$ 0.29		$ 0.25
Repurchase of common stock, authorized amount			$ 40,000,000		$ 40,000,000
Period of repurchase of common stock			12 months		12 months
Cumulative number of shares repurchased under all stock repurchase programs						8,685,700
Cumulative cost of shares repurchased under all stock repurchase programs						$ 257,731,000

Capital Ratios (Details)

Capital Ratios (Details) - USD ($)	Jan. 01, 2015	Jun. 30, 2015	Jan. 01, 2016	Dec. 31, 2014	Jul. 31, 2013
CET 1 ratio		16.13%
Tier 1 capital (to Average Assets), Actual Ratio (as a percent)		12.64%		12.33%
Tier 1 capital (to Risk Weighted Assets), Actual Ratio (as a percent)		18.19%		19.34%	6.00%
Total Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	4.50%	18.96%		20.24%
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	2.50%
Term of mandatory compliance	4 years
Percentage of capital securities issued by trust qualifying as Tier I capital, maximum		25.00%
Percentage of capital securities issued by trust qualifying as Tier II capital, minimum		25.00%
Capital securities issued by the trust, qualifying as Tier I capital		$ 175,416,000		$ 175,416,000
Minimum
CET 1 ratio		7.00%
Tier 1 capital (to Risk Weighted Assets), Actual Ratio (as a percent)					4.00%
Forecast
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)			0.625%