Investment Securities (Tables)

3 Months Ended

Mar. 31, 2012

Investment Securities [Abstract]

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

March 31, 2012

(in thousands)

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
AVAILABLE FOR SALE:
U.S. Treasury and agencies	$	45,548	$	719	$	(1	)	$	46,266
Obligations of states and political subdivisions		236,166		15,830		(116	)		251,880
Residential mortgage-backed securities and collateralized mortgage obligations		2,752,535		46,071		(3,945	)		2,794,661
Other debt securities		149		-		(14	)		135
Investments in mutual funds and other equity securities		1,959		108		-			2,067
	$	3,036,357	$	62,728	$	(4,076	)	$	3,095,009
HELD TO MATURITY:
Obligations of states and political subdivisions	$	1,315	$	2	$	-		$	1,317
Residential mortgage-backed securities and collateralized mortgage obligations		3,310		153		(44	)		3,419
	$	4,625	$	155	$	(44	)	$	4,736

December 31, 2011

(in thousands)

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
AVAILABLE FOR SALE:
U.S. Treasury and agencies	$	117,232	$	1,234	$	(1	)	$	118,465
Obligations of states and political subdivisions		237,302		16,264		(13	)		253,553
Residential mortgage-backed securities and collateralized mortgage obligations		2,755,153		43,152		(3,950	)		2,794,355
Other debt securities		151		-		(17	)		134
Investments in mutual funds and other equity securities		1,959		112		-			2,071
	$	3,111,797	$	60,762	$	(3,981	)	$	3,168,578
HELD TO MATURITY:
Obligations of states and political subdivisions	$	1,335	$	2	$	-		$	1,337
Residential mortgage-backed securities and collateralized mortgage obligations		3,379		120		(77	)		3,422
	$	4,714	$	122	$	(77	)	$	4,759

Schedule Of Fair Value And Unrealized Losses Of Securities

March 31, 2012

(in thousands)

	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
AVAILABLE FOR SALE:
U.S. Treasury and agencies	$	-	$	-	$	78	$	1	$	78	$	1
Obligations of states and political subdivisions		5,409		116		-		-		5,409		116
Residential mortgage-backed securities and collateralized mortgage obligations		499,687		3,639		30,573		306		530,260		3,945
Other debt securities		-		-		135		14		135		14
Total temporarily impaired securities	$	505,096	$	3,755	$	30,786	$	321	$	535,882	$	4,076
HELD TO MATURITY:
Residential mortgage-backed securities and collateralized mortgage obligations	$	-	$	-	$	943	$	44	$	943	$	44
Total temporarily impaired securities	$	-	$	-	$	943	$	44	$	943	$	44

December 31, 2011

(in thousands)

	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
AVAILABLE FOR SALE:
U.S. Treasury and agencies	$	-	$	-	$	85	$	1	$	85	$	1
Obligations of states and political subdivisions		516		13		-		-		516		13
Residential mortgage-backed securities and collateralized mortgage obligations		489,475		3,160		52,222		790		541,697		3,950
Other debt securities		-		-		134		17		134		17
Total temporarily impaired securities	$	489,991	$	3,173	$	52,441	$	808	$	542,432	$	3,981
HELD TO MATURITY:
Residential mortgage-backed securities and collateralized mortgage obligations	$	-	$	-	$	602	$	77	$	602	$	77
Total temporarily impaired securities	$	-	$	-	$	602	$	77	$	602	$	77

Other-Than-Temporary Impairment Losses, Investment Securities

(in thousands)

	Three months ended
	2012		2011
Total other-than-temporary impairment losses	$	-	$	-
Portion of other-than-temporary impairment losses transferred from other comprehensive income (1)		-		25
Net impairment losses recognized in earnings (2)	$	-	$	25

(1) Represents other-than-temporary impairment losses related to all other factors.

(2) Represents other-than-temporary impairment losses related to credit losses.

Summary Of Significant Inputs Used To Estimate Credit Loss On Non-Agency Collateralized Mortgage Obligations

	2012									2011
	Range						Weighted			Range						Weighted
	Minimum			Maximum			Average			Minimum			Maximum			Average
Constant prepayment rate		10.0	%		20.0	%		14.0	%		5.0	%		20.0	%		14.9	%
Collateral default rate		5.0	%		60.0	%		22.6	%		5.0	%		15.0	%		10.6	%
Loss severity		27.5	%		50.0	%		32.5	%		25.0	%		55.0	%		37.9	%

Roll Forward Of Credit Losses Of Held-To-Maturity Securities Written Down As Other-Than-Temporary Impairment Recognized In Earnings And Other Comprehensive Income

(in thousands)

		Three months ended
	2012		2011
Balance, beginning of period	$	9,574	$	12,778
Subsequent OTTI credit losses		-		25
Balance, end of period	$	9,574	$	12,803

Schedule Of Maturities Of Investment Securities

	Available For Sale				Held To Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
AMOUNTS MATURING IN:
Three months or less	$	28,517	$	28,689	$	85	$	85
Over three months through twelve months		335,264		340,008		245		246
After one year through five years		2,037,135		2,079,376		345		348
After five years through ten years		547,572		557,968		61		63
After ten years		85,910		86,901		3,889		3,994
Other investment securities		1,959		2,067		-		-
	$	3,036,357	$	3,095,009	$	4,625	$	4,736

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

	Three months ended March 31, 2012				Three months ended March 31, 2011
	Gains		Losses		Gains		Losses
U.S. Treasury and agencies	$	371	$	-	$	-	$	-
Obligations of states and political subdivisions		2		-		2		1
Residential mortgage-backed securities and collateralized mortgage obligations		-		230		-		-
Other debt securities		5		-		-		-
	$	378	$	230	$	2	$	1

Investment Securities Pledged To Secure Borrowings And Public Deposits

	Amortized Cost		Fair Value
To Federal Home Loan Bank to secure borrowings	$	158,984	$	164,620
To state and local governments to secure public deposits		716,942		738,353
Other securities pledged principally to secure deposits		175,226		178,204
Total pledged securities	$	1,051,152	$	1,081,177