INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 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

	September 30, 2012
Security Type	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Carrying Value
	(In thousands)
Residential mortgage-backed securities:
Government agency and government-sponsored enterprise pass through securities	$	901,955	$	43,777	$	(151	)	$	945,581
Government agency and government-sponsored enterprise collateralized mortgage obligations		89,320		2,128		(173	)		91,275
Covered private label collateralized mortgage obligations		37,116		8,932		(161	)		45,887
Municipal securities		236,385		10,909		(14	)		247,280
Corporate debt securities		17,049		206		—			17,255
Other securities		6,395		3,538		—			9,933
Total securities available-for-sale	$	1,288,220	$	69,490	$	(499	)	$	1,357,211

	December 31, 2011
Security Type	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Carrying Value
	(In thousands)
Residential mortgage-backed securities:
Government agency and government-sponsored enterprise pass through securities	$	1,011,222	$	31,350	$	(65	)	$	1,042,507
Government agency and government-sponsored enterprise 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

	September 30, 2012
Maturity	Amortized Cost		Carrying Value
	(In thousands)
Due in one year or less	$	11,718	$	15,381
Due after one year through five years		3,206		3,349
Due after five years through ten years		32,306		34,422
Due after ten years		1,240,990		1,304,059
Total securities available-for-sale	$	1,288,220	$	1,357,211

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

	September 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 agency and government-sponsored enterprise pass through securities	$	34,136	$	(150	)	$	20	$	(1	)	$	34,156	$	(151	)
Government agency and government-sponsored enterprise collateralized mortgage obligations		28,547		(173	)		—		—			28,547		(173	)
Covered private label collateralized mortgage obligations		—		—			2,359		(161	)		2,359		(161	)
Municipal securities		5,511		(14	)		—		—			5,511		(14	)
Total	$	68,194	$	(337	)	$	2,379	$	(162	)	$	70,573	$	(499	)

	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 agency and government-sponsored enterprise pass through securities	$	34,682	$	(64	)	$	22	$	(1	)	$	34,704	$	(65	)
Government agency and government-sponsored enterprise 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	)