Investment Securities (Tables)

6 Months Ended

Jun. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities

The following table presents the amortized costs, unrealized gains, unrealized losses and approximate fair values of investment securities at June 30, 2013 and December 31, 2012: 

June 30, 2013

(in thousands)

	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
AVAILABLE FOR SALE:
U.S. Treasury and agencies	$	263	$	23	$	(1	)	$	285
Obligations of states and political subdivisions	237,413		8,226		(3,439		)	242,200
Residential mortgage-backed securities and
collateralized mortgage obligations	1,844,452		13,854		(19,278		)	1,839,028
Other debt securities	139		99		—			238
Investments in mutual funds and
other equity securities	1,959		45		—			2,004
	$	2,084,226	$	22,247	$	(22,718	)	$	2,083,755
HELD TO MATURITY:
Residential mortgage-backed securities and
collateralized mortgage obligations	$	3,741	$	178	$	(29	)	$	3,890
	$	3,741	$	178	$	(29	)	$	3,890

December 31, 2012

(in thousands)

	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
AVAILABLE FOR SALE:
U.S. Treasury and agencies	$	45,503	$	318	$	(1	)	$	45,820
Obligations of states and political subdivisions	245,606		18,119		—			263,725
Residential mortgage-backed securities and
collateralized mortgage obligations	2,291,253		28,747		(6,624		)	2,313,376
Other debt securities	143		79		—			222
Investments in mutual funds and
other equity securities	1,959		127		—			2,086
	$	2,584,464	$	47,390	$	(6,625	)	$	2,625,229
HELD TO MATURITY:
Obligations of states and political subdivisions	$	595	$	1	$	—		$	596
Residential mortgage-backed securities and
collateralized mortgage obligations	3,946		197		(7		)	4,136
	$	4,541	$	198	$	(7	)	$	4,732

Schedule Of Fair Value And Unrealized Losses Of Securities

June 30, 2013

(in thousands)

	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
AVAILABLE FOR SALE:
U.S. Treasury and agencies	$	—	$	—	$	45	$	1	$	45	$	1
Obligations of states and political subdivisions	61,350		3,439		—		—		61,350		3,439
Residential mortgage-backed securities and
collateralized mortgage obligations	648,150		16,742		260,972		2,536		909,122		19,278
Total temporarily impaired securities	$	709,500	$	20,181	$	261,017	$	2,537	$	970,517	$	22,718
HELD TO MATURITY:
Residential mortgage-backed securities and
collateralized mortgage obligations	$	280	$	26	$	51	$	3	$	331	$	29
Total temporarily impaired securities	$	280	$	26	$	51	$	3	$	331	$	29

Unrealized losses on the impaired held to maturity collateralized mortgage obligations include the unrealized losses related to factors other than credit that are included in other comprehensive income. 

December 31, 2012

(in thousands)

	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
AVAILABLE FOR SALE:
U.S. Treasury and agencies	$	—	$	—	$	59	$	1	$	59	$	1
Residential mortgage-backed securities and
collateralized mortgage obligations	780,234		5,548		106,096		1,076		886,330		6,624
Total temporarily impaired securities	$	780,234	$	5,548	$	106,155	$	1,077	$	886,389	$	6,625
HELD TO MATURITY:
Residential mortgage-backed securities and
collateralized mortgage obligations	$	—	$	—	$	48	$	7	$	48	$	7
Total temporarily impaired securities	$	—	$	—	$	48	$	7	$	48	$	7

Schedule Of Maturities Of Investment Securities

The following table presents the maturities of investment securities at June 30, 2013: 

(in thousands)

	Available For Sale				Held To Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
AMOUNTS MATURING IN:
Three months or less	$	16,890	$	16,967	$	—	$	—
Over three months through twelve months	242,894		244,765		—		—
After one year through five years	1,347,825		1,353,712		63		66
After five years through ten years	382,779		376,209		23		24
After ten years	91,879		90,098		3,655		3,800
Other investment securities	1,959		2,004		—		—
	$	2,084,226	$	2,083,755	$	3,741	$	3,890

Gross Realized Gains And Losses On Sales Of Available-For-Sale Securities

The following table presents the gross realized gains and gross realized losses on the sale of securities available for sale for the three and six months ended June 30, 2013 and 2012: 

(in thousands)

	Three months ended				Three months ended
	June 30, 2013				June 30, 2012
	Gains		Losses		Gains		Losses
U.S. Treasury and agencies	$	—	$	—	$	—	$	—
Obligations of states and political subdivisions	—		1		—		—
Residential mortgage-backed securities and
collateralized mortgage obligations	—		—		1,484		454
Other debt securities	9		—		—		—
	$	9	$	1	$	1,484	$	454
(in thousands)
	Six months ended				Six months ended
	June 30, 2013				June 30, 2012
	Gains		Losses		Gains		Losses
U.S. Treasury and agencies	$	—	$	—	$	371	$	—
Obligations of states and political subdivisions	7		1		2		1
Residential mortgage-backed securities and
collateralized mortgage obligations	—		—		1,484		683
Other debt securities	9		—		5		—
	$	16	$	1	$	1,862	$	684

Investment Securities Pledged To Secure Borrowings And Public Deposits

The following table presents, as of June 30, 2013, investment securities which were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law: 

(in thousands)

	Amortized		Fair
	Cost		Value
To Federal Home Loan Bank to secure borrowings	$	28,945	$	29,565
To state and local governments to secure public deposits	803,949		804,964
Other securities pledged principally to secure repurchase agreements	256,868		254,948
Total pledged securities	$	1,089,762	$	1,089,477