INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2012

INVESTMENT SECURITIES

Schedule of amortized cost, gross unrealized gains and losses and carrying value, which is the estimated fair value of securities available-for-sale

	June 30, 2012
Security Type	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Carrying Value
	(In thousands)
Residential mortgage-backed securities:
Government and government-sponsored entity pass through securities	$	949,984	$	39,096	$	(90	)	$	988,990
Government and government-sponsored entity collateralized mortgage obligations		93,668		1,977		(40	)		95,605
Covered private label collateralized mortgage obligations		37,944		6,609		(500	)		44,053
Municipal securities		156,527		5,857		(192	)		162,192
Corporate debt securities		51,162		61		(204	)		51,019
Other securities		6,391		3,451		—			9,842
Total securities available-for-sale	$	1,295,676	$	57,051	$	(1,026	)	$	1,351,701

	December 31, 2011
Security Type	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Carrying Value
	(In thousands)
Residential mortgage-backed securities:
Government and government-sponsored entity pass through securities	$	1,011,222	$	31,350	$	(65	)	$	1,042,507
Government and government-sponsored entity collateralized mortgage obligations		80,353		1,710		(36	)		82,027
Covered private label collateralized mortgage obligations		41,426		5,878		(2,155	)		45,149
Municipal securities		124,079		2,774		(56	)		126,797
Corporate debt securities		25,077		77		(26	)		25,128
Other securities		4,885		—		(135	)		4,750
Total securities available-for-sale	$	1,287,042	$	41,789	$	(2,473	)	$	1,326,358

Schedule of contractual maturity distribution of the entity's available-for-sale securities portfolio based on amortized cost and carrying value

	June 30, 2012
Maturity	Amortized Cost		Carrying Value
	(In thousands)
Due in one year or less	$	44,886	$	48,219
Due after one year through five years		4,201		4,340
Due after five years through ten years		32,933		34,744
Due after ten years		1,213,656		1,264,398
Total securities available-for-sale	$	1,295,676	$	1,351,701

Schedule of carrying values and the gross unrealized losses on securities by length of time the securities were in an unrealized loss position

	June 30, 2012
	Less Than 12 Months					12 months or Longer					Total
Security Type	Carrying Value		Gross Unrealized Losses			Carrying Value		Gross Unrealized Losses			Carrying Value		Gross Unrealized Losses
	(In thousands)
Residential mortgage-backed securities:
Government and government- sponsored entity pass through securities	$	29,288	$	(89	)	$	23	$	(1	)	$	29,311	$	(90	)
Government and government- sponsored entity collateralized mortgage obligations		3,883		(40	)		—		—			3,883		(40	)
Covered private label collateralized mortgage obligations		882		(77	)		6,861		(423	)		7,743		(500	)
Municipal securities		17,674		(192	)		—		—			17,674		(192	)
Corporate debt securities		35,936		(204	)		—		—			35,936		(204	)
Total	$	87,663	$	(602	)	$	6,884	$	(424	)	$	94,547	$	(1,026	)

	December 31, 2011
	Less Than 12 Months					12 months or Longer					Total
Security Type	Carrying Value		Gross Unrealized Losses			Carrying Value		Gross Unrealized Losses			Carrying Value		Gross Unrealized Losses
	(In thousands)
Residential mortgage-backed securities:
Government and government- sponsored entity pass through securities	$	34,682	$	(64	)	$	22	$	(1	)	$	34,704	$	(65	)
Government and government- sponsored entity collateralized mortgage obligations		10,790		(21	)		1,530		(15	)		12,320		(36	)
Covered private label collateralized mortgage obligations		5,228		(595	)		4,427		(1,560	)		9,655		(2,155	)
Municipal securities		7,755		(56	)		—		—			7,755		(56	)
Corporate debt securities		10,758		(26	)		—		—			10,758		(26	)
Other securities		2,445		(135	)		—		—			2,445		(135	)
Total	$	71,658	$	(897	)	$	5,979	$	(1,576	)	$	77,637	$	(2,473	)