Securities (Tables)

3 Months Ended

Mar. 31, 2014

Securities Available for Sale

This table provides detailed information about securities available for sale at March 31, 2014 and December 31, 2013 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
March 31, 2014	Cost		Gains		Losses			Value
U.S. Treasury	$	252,195	$	320	$	(725	)	$	251,790
U.S. Agencies		1,019,869		1,797		(2,041	)		1,019,625
Mortgage-backed		3,108,155		23,477		(48,246	)		3,083,386
State and political subdivisions		1,951,916		24,097		(18,441	)		1,957,572
Corporates		424,106		539		(2,087	)		422,558
Total	$	6,756,241	$	50,230	$	(71,540	)	$	6,734,931
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
December 31, 2013	Cost		Gains		Losses			Value
U.S. Treasury	$	110,789	$	284	$	(873	)	$	110,200
U.S. Agencies		1,258,176		2,793		(3,306	)		1,257,663
Mortgage-backed		2,984,963		23,942		(64,339	)		2,944,566
State and political subdivisions		2,003,509		23,493		(31,756	)		1,995,246
Corporates		457,275		902		(3,441	)		454,736
Total	$	6,814,712	$	51,414	$	(103,715	)	$	6,762,411

Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale

The following table shows the Company’s available for sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2014 and December 31, 2013 (in thousands).

March 31, 2014	Less than 12 months					12 months or more					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury	$	103,744	$	(725	)	$	—	$	—		$	103,744	$	(725	)
U.S. Agencies		504,992		(1,612	)		33,680		(429	)		538,672		(2,041	)
Mortgage-backed		1,824,634		(42,933	)		127,158		(5,313	)		1,951,792		(48,246	)
State and political subdivisions		600,148		(12,825	)		109,243		(5,616	)		709,391		(18,441	)
Corporates		195,055		(1,423	)		43,670		(664	)		238,725		(2,087	)
Total temporarily - impaired debt securities available for sale	$	3,228,573	$	(59,518	)	$	313,751	$	(12,022	)	$	3,542,324	$	(71,540	)

December 31, 2013	Less than 12 months					12 months or more					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury	$	39,822	$	(873	)	$	—	$	—		$	39,822	$	(873	)
U.S. Agencies		675,509		(3,130	)		9,824		(176	)		685,333		(3,306	)
Mortgage-backed		1,945,964		(60,719	)		89,147		(3,620	)		2,035,111		(64,339	)
State and political subdivisions		662,225		(25,064	)		87,061		(6,692	)		749,286		(31,756	)
Corporates		271,834		(2,458	)		41,522		(983	)		313,356		(3,441	)
Total temporarily - impaired debt securities available for sale	$	3,595,354	$	(92,244	)	$	227,554	$	(11,471	)	$	3,822,908	$	(103,715	)

Securities Held to Maturity

The table below provides detailed information for securities held to maturity at March 31, 2014 and December 31, 2013 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
March 31, 2014	Cost		Gains		Losses		Value
State and political subdivisions	$	219,724	$	17,174	$	—	$	236,898
December 31, 2013
State and political subdivisions	$	209,770	$	21,740	$	—	$	231,510

Schedule of Federal Reserve Bank Stock and Other Securities

The table below provides detailed information for Federal Reserve Bank stock and other securities at March 31, 2014 and December 31, 2013(in thousands):

			Gross		Gross
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
March 31, 2014
Federal Reserve Bank stock	$	16,279	$	—	$	—	$	16,279
Other securities – marketable		—		17,385		—		17,385
Other securities – non-marketable		18,427		2,460		—		20,887
Total Federal Reserve Bank stock and other	$	34,706	$	19,845	$	—	$	54,551
December 31, 2013
Federal Reserve Bank stock	$	16,279	$	—	$	—	$	16,279
Other securities – marketable		20		16,612		—		16,632
Other securities – non-marketable		17,139		432		—		17,571
Total Federal Reserve Bank stock and other	$	33,438	$	17,044	$	—	$	50,482

Available-for-sale Securities [Member]

Contractual Maturity Information

The following table presents contractual maturity information for securities available for sale at March 31, 2014 (in thousands):

	Amortized Cost		Fair Value
Due in 1 year or less	$	469,340	$	471,680
Due after 1 year through 5 years		2,303,020		2,314,245
Due after 5 years through 10 years		729,845		726,462
Due after 10 years		145,881		139,158
Total		3,648,086		3,651,545
Mortgage-backed securities		3,108,155		3,083,386
Total securities available for sale	$	6,756,241	$	6,734,931

Held-to-maturity Securities [Member]

Contractual Maturity Information

The following table presents contractual maturity information for securities held to maturity at March 31, 2014 (in thousands):

	Amortized Cost		Fair Value
Due in 1 year or less	$	61	$	66
Due after 1 year through 5 years		27,251		29,381
Due after 5 years through 10 years		98,703		106,418
Due after 10 years		93,709		101,033
Total securities held to maturity	$	219,724	$	236,898