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Securities (Tables)

3 Months Ended

Mar. 31, 2013

Securities [Abstract]

Schedule of fair value and amortized cost of available-for-sale and held-to-maturity Securities


		March 31, 2013																December 31, 2012
*(unaudited, in thousands)*		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value				Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Available-for-sale
Other government agencies		$	65,281			$	199			$	(31	)		$	65,449			$	96,257			$	411			$	(56	)		$	96,612
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies			729,647				9,822				(527	)			738,942				721,824				10,690				(304	)			732,210
Obligations of state and political subdivisions			130,913				8,754				(47	)			139,620				139,511				9,133				(9	)			148,635
Corporate debt securities			37,959				239				(62	)			38,136				32,706				213				(234	)			32,685

Total debt securities		$	963,800			$	19,014			$	(667	)		$	982,147			$	990,298			$	20,447			$	(603	)		$	1,010,142
Equity securities			9,952				1,211				(40	)			11,123				10,207				916				(21	)			11,102

Total available-for-sale securities		$	973,752			$	20,225			$	(707	)		$	993,270			$	1,000,505			$	21,363			$	(624	)		$	1,021,244

Held-to-maturity
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies		$	133,186			$	5,626			$	(69	)		$	138,743			$	152,872			$	6,421			$	(80	)		$	159,213
Other residential collateralized mortgage obligations			305				7				—				312				353				8				—				361
Obligations of state and political subdivisions			458,542				28,823				(1,793	)			485,572				449,284				31,244				(829	)			479,699

Total held-to-maturity securities		$	592,033			$	34,456			$	(1,862	)		$	624,627			$	602,509			$	37,673			$	(909	)		$	639,273

Total securities		$	1,565,785			$	54,681			$	(2,569	)		$	1,617,897			$	1,603,014			$	59,036			$	(1,533	)		$	1,660,517

Schedule of fair value of available-for-sale and held-to-maturity securities by contractual maturity

March 31, 2013

(unaudited, in thousands)

One Year
or less

One to
Five Years

Five to
Ten Years

After
Ten Years

Mortgage-backed
and Equity

Total

Available-for-sale

Other government agencies

$

—

$

17,866

$

38,441

$

9,142

$

—

$

65,449

Residential mortgage-backed securities and

collateralized mortgage obligations of

government agencies ⁽¹⁾

—

—

—

—

738,942

738,942

Obligations of states and political subdivisions

8,767

42,834

35,567

52,452

—

139,620

Corporate debt securities

5,135

17,316

7,744

7,941

—

38,136

Equity securities ⁽²⁾

—

—

—

—

11,123

11,123

Total available-for-sale securities

$

13,902

$

78,016

$

81,752

$

69,535

$

750,065

$

993,270

Held-to-maturity ⁽³⁾

Residential mortgage-backed securities and collateralized mortgage obligations of government agencies ⁽¹⁾

$

—

$

—

$

—

$

—

$

138,743

$

138,743

Other residential collateralized mortgage obligations ⁽¹⁾

—

—

—

—

312

312

Obligations of states and political subdivisions

2,728

9,390

117,252

356,202

—

485,572

Total held-to-maturity securities

$

2,728

$

9,390

$

117,252

$

356,202

$

139,055

$

624,627

Total securities

$

16,630

$

87,406

$

199,004

$

425,737

$

889,120

$

1,617,897

⁽¹⁾	Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds.

⁽²⁾	Equity securities, which have no stated maturity, are not assigned a maturity category.

⁽³⁾	The held-to-maturity portfolio is carried at an amortized cost of $592.0 million.

Schedule of unrealized losses on investment securities


		March 31, 2013
		Less than 12 months												12 months or more												Total
*(unaudited, dollars in thousands)*		Fair Value				Unrealized Losses				# of Securities				Fair Value				Unrealized Losses				# of Securities				Fair Value				Unrealized Losses				# of Securities
Other government agencies		$	8,047			$	(4	)			3			$	4,664			$	(27	)			1			$	12,711			$	(31	)			4
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies			93,980				(502	)			18				7,294				(94	)			8				101,274				(596	)			26
Obligations of states and political subdivisions			97,422				(1,736	)			145				3,999				(104	)			3				101,421				(1,840	)			148
Corporate debt securities			1,980				(3	)			1				7,941				(59	)			3				9,921				(62	)			4
Equity securities			2,848				(40	)			2				—				—				—				2,848				(40	)			2

Total temporarily impaired securities		$	204,277			$	(2,285	)			169			$	23,898			$	(284	)			15			$	228,175			$	(2,569	)			184


		December 31, 2012
		Less than 12 months												12 months or more												Total
*(unaudited, dollars in thousands)*		Fair Value				Unrealized Losses				# of Securities				Fair Value				Unrealized Losses				# of Securities				Fair Value				Unrealized Losses				# of Securities
Other government agencies		$	18,894			$	(56	)			6			$	—			$	—				—			$	18,894			$	(56	)			6
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies			38,913				(258	)			20				9,966				(126	)			10				48,879				(384	)			30
Obligations of states and political subdivisions			72,521				(838	)			107				—				—				—				72,521				(838	)			107
Corporate debt securities			1,526				(57	)			2				10,878				(177	)			5				12,404				(234	)			7
Equity securities			2,838				(21	)			2				—				—				—				2,838				(21	)			2

Total temporarily impaired securities		$	134,692			$	(1,230	)			137			$	20,844			$	(303	)			15			$	155,536			$	(1,533	)			152