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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2011
Investment Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Investment Securities
                                         
    December 31, 2011  
    Amortized
Cost
    Gross
Unrealized
Holding
Gain
    Gross
Unrealized
Holding
Loss
    Fair
Value
    Total
Percent
 
          (Dollars in thousands)              

Investment Securities Available-for-Sale:

                                       

Government agency & government-sponsored enterprises

  $ 46,273     $ 234     $ —       $ 46,507       2.11

Residential mortgage-backed securities

    869,847       18,487       (334     888,000       40.33

CMO’s / REMIC’s–Residential

    594,866       10,307       (665     604,508       27.46

Municipal bonds

    608,575       43,665       (203     652,037       29.62

Other securities

    10,468       10       (4     10,474       0.48
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Securities

  $ 2,130,029     $ 72,703     $ (1,206   $ 2,201,526       100.00
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

                                         
    December 31, 2010  
    Amortized
Cost
    Gross
Unrealized
Holding
Gain
    Gross
Unrealized
Holding
Loss
    Fair Value     Total
Percent
 
    (Dollars in thousands)  

Investment Securities Available-for-Sale:

                                       

Government agency & government-sponsored enterprises

  $ 106,368     $ 119     $ (214   $ 106,273       5.93

Residential mortgage-backed securities

    801,370       13,405       (6,366     808,409       45.12

CMO’s / REMIC’s–Residential

    267,556       4,300       (1,379     270,477       15.10

Municipal bonds

    605,199       10,943       (9,743     606,399       33.85
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Securities

  $ 1,780,493     $ 28,767     $ (17,702   $ 1,791,558       100.00
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Summary of Continuous Loss Position of Securities
                                                 
    December 31, 2011  
    Less than 12 months     12 months or longer     Total  
Description of Securities   Fair
Value
    Gross
Unrealized
Holding
Losses
    Fair
Value
    Gross
Unrealized
Holding
Losses
    Fair
Value
    Gross
Unrealized
Holding

Losses
 
    (Dollars in thousands)  

Held-To-Maturity

                                               

CMO

  $ 2,383     $ —       $ —       $ —       $ 2,383     $ —    
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Available-for-Sale

                                               

Government agency

  $ —       $ —       $ —       $ —       $ —       $ —    

Residential mortgage-backed securities

    75,754       334       —         —         75,754       334  

CMO/REMICs—Residential

    133,471       665       —         —         133,471       665  

Municipal bonds

    22,184       203       —         —         22,184       203  

Other Securities

    2,500       4       —         —         2,500       4  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 233,909     $ 1,206     $ —       $ —       $ 233,909     $ 1,206  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   
    December 31, 2010  
    Less than 12 months     12 months or longer     Total  
Description of Securities   Fair
Value
    Gross
Unrealized
Holding
Losses
    Fair
Value
    Gross
Unrealized
Holding
Losses
    Fair
Value
    Gross
Unrealized
Holding
Losses
 
    (Dollars in thousands)  

Held-To-Maturity

                                               

CMO

  $ —       $ —       $ 3,143     $ 401     $ 3,143     $ 401  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Available-for-Sale

                                               

Government agency

  $ 79,635     $ 214     $ —       $ —       $ 79,635     $ 214  

Residential mortgage-backed securities

    449,806       6,366       —         —         449,806       6,366  

CMO/REMICs—Residential

    144,234       1,379       —         —         144,234       1,379  

Municipal bonds

    225,928       8,844       5,585       899       231,513       9,743  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 899,603     $ 16,803     $ 5,585     $ 899     $ 905,188     $ 17,702  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Roll-Forward of Credit-Related Other-Than-Temporary Impairment Recognized in Earnings
         
    For the Year Ended
December 31, 2011
 
  (Dollars in thousands)  

Balance, beginning of the period

  $ 1,227  

Addition of OTTI that was not previously recognized

    656  

Reduction for securities sold during the period

    —    

Reduction for securities with OTTI recognized in earnings because the security might be sold before recovery of its amortized cost basis that are recognized over the remaining life of the security

    —    
   

 

 

 

Balance, end of the period

  $ 1,883  
   

 

 

 
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
                         
    Available-for-sale  
    Amortized
Cost
    Fair
Value
    Weighted-
Average
Yield
 
    (Dollars in thousands)  

Due in one year or less

  $ 124,996     $ 127,168       3.22

Due after one year through five years

    1,630,781       1,679,549       2.81

Due after five years through ten years

    321,947       340,109       3.70

Due after ten years

    52,305       54,700       3.65
   

 

 

   

 

 

         
    $ 2,130,029     $ 2,201,526       2.99