Securities (Tables)

3 Months Ended

Mar. 31, 2012

Securities [Abstract]

Schedule Of Amortized Cost And Fair Value Of Securities Available For Sale

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2012
U.S. Treasury and other U.S. government agencies and corporations	$	366,075	$	406	$	(632	)	$	365,849
Residential mortgage-backed securities:
Agency mortgage-backed securities		337,045		5,675		(66	)		342,654
Agency collateralized mortgage obligations		299,109		3,221		—			302,330
Non-agency collateralized mortgage obligations		3,866		1		(25	)		3,842
States of the U.S. and political subdivisions		33,359		1,532		—			34,891
Collateralized debt obligations		36,161		418		(13,774	)		22,805
Other debt securities		23,853		567		(1,398	)		23,022
Total debt securities		1,099,468		11,820		(15,895	)		1,095,393
Equity securities		2,055		369		(16	)		2,408
	$	1,101,523	$	12,189	$	(15,911	)	$	1,097,801

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2011
U.S. Treasury and other U.S. government agencies and corporations	$	231,187	$	642	$	—		$	231,829
Residential mortgage-backed securities:
Agency mortgage-backed securities		166,758		4,853		—			171,611
Agency collateralized mortgage obligations		181,493		2,236		—			183,729
Non-agency collateralized mortgage obligations		31		—		(1	)		30
States of the U.S. and political subdivisions		38,509		1,841		—			40,350
Collateralized debt obligations		19,224		—		(13,226	)		5,998
Other debt securities		6,863		—		(1,666	)		5,197
Total debt securities		644,065		9,572		(14,893	)		638,744
Equity securities		1,593		257		(23	)		1,827
	$	645,658	$	9,829	$	(14,916	)	$	640,571

Schedule Of Amortized Cost And Fair Value Of Securities Held To Maturity

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2012
U.S. Treasury and other U.S. government agencies and corporations	$	4,441	$	340	$	—		$	4,781
Residential mortgage-backed securities:
Agency mortgage-backed securities		888,484		29,006		(471	)		917,019
Agency collateralized mortgage obligations		115,104		731		(88	)		115,747
Non-agency collateralized mortgage obligations		19,652		107		(1,313	)		18,446
States of the U.S. and political subdivisions		147,990		6,236		(81	)		154,145
Collateralized debt obligations		1,563		—		(176	)		1,387
Other debt securities		1,324		—		(23	)		1,301
	$	1,178,558	$	36,420	$	(2,152	)	$	1,212,826
December 31, 2011
U.S. Treasury and other U.S. government agencies and corporations	$	4,523	$	360	$	—		$	4,883
Residential mortgage-backed securities:
Agency mortgage-backed securities		683,100		28,722		—			711,822
Agency collateralized mortgage obligations		54,319		573		(11	)		54,881
Non-agency collateralized mortgage obligations		24,348		143		(1,373	)		23,118
States of the U.S. and political subdivisions		147,748		6,877		—			154,625
Collateralized debt obligations		1,592		—		(314	)		1,278
Other debt securities		1,582		25		(181	)		1,426
	$	917,212	$	36,700	$	(1,879	)	$	952,033

Gross Gains And Gross Losses Realized On Sales Of Securities

	Three Months Ended
	March 31,
	2012			2011
Gross gains	$	349		$	250
Gross losses		(241	)		(196	)
	$	108		$	54

Amortized Cost And Fair Value Of Securities, By Contractual Maturities

	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	27,164	$	27,213	$	7,731	$	7,826
Due from one to five years		346,262		346,200		12,313		12,873
Due from five to ten years		21,405		22,401		43,678		45,470
Due after ten years		64,617		50,753		91,596		95,445
		459,448		446,567		155,318		161,614
Residential mortgage-backed securities:
Agency mortgage-backed securities		337,045		342,654		888,484		917,019
Agency collateralized mortgage obligations		299,109		302,330		115,104		115,747
Non-agency collateralized mortgage obligations		3,866		3,842		19,652		18,446
Equity securities		2,055		2,408		—		—
	$	1,101,523	$	1,097,801	$	1,178,558	$	1,212,826

Summaries Of Fair Values And Unrealized Losses Of Securities, Segregated By Length Of Impairment

	Less than 12 Months					Greater than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
March 31, 2012
U.S. Treasury and other U.S. government agencies and corporations	$	169,327	$	(632	)	$	—	$	—		$	169,327	$	(632	)
Residential mortgage-backed securities:
Agency mortgage-backed securities		76,778		(66	)		—		—			76,778		(66	)
Non-agency collateralized mortgage obligations		3,812		(25	)		—		—			3,812		(25	)
Collateralized debt obligations		8,453		(544	)		6,042		(13,230	)		14,495		(13,774	)
Other debt securities		—		—			5,467		(1,398	)		5,467		(1,398	)
Equity securities		729		(16	)		—		—			729		(16	)
	$	259,099	$	(1,283	)	$	11,509	$	(14,628	)	$	270,608	$	(15,911	)

	Less than 12 Months					Greater than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
December 31, 2011
Residential mortgage-backed securities:
Non-agency collateralized mortgage obligations	$	30	$	(1	)	$	—	$	—		$	30	$	(1	)
Collateralized debt obligations		—		—			5,998		(13,226	)		5,998		(13,226	)
Other debt securities		—		—			5,197		(1,666	)		5,197		(1,666	)
Equity securities		100		(9	)		659		(14	)		759		(23	)
	$	130	$	(10	)	$	11,854	$	(14,906	)	$	11,984	$	(14,916	)
Securities held to maturity:
	Less than 12 Months					Greater than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
March 31, 2012
Residential mortgage-backed securities:
Agency mortgage-backed securities	$	143,873	$	(471	)	$	—	$	—		$	143,873	$	(471	)
Agency collateralized mortgage obligations		19,943		(88	)		—		—			19,943		(88	)
Non-agency collateralized mortgage obligations		5,202		(114	)		4,322		(1,199	)		9,524		(1,313	)
States of the U.S. and political subdivisions		4,455		(81	)		—		—			4,455		(81	)
Collateralized debt obligations		—		—			1,387		(176	)		1,387		(176	)
Other debt securities		—		—			1,301		(23	)		1,301		(23	)
	$	173,473	$	(754	)	$	7,010	$	(1,398	)	$	180,483	$	(2,152	)
December 31, 2011
Residential mortgage-backed securities:
Agency collateralized mortgage obligations	$	12,911	$	(11	)	$	—	$	—		$	12,911	$	(11	)
Non-agency collateralized mortgage obligations		5,374		(64	)		4,351		(1,309	)		9,725		(1,373	)
Collateralized debt obligations		—		—			1,278		(314	)		1,278		(314	)
Other debt securities		—		—			1,144		(181	)		1,144		(181	)
	$	18,285	$	(75	)	$	6,773	$	(1,804	)	$	25,058	$	(1,879	)

Summary Of Cumulative Credit-Related OTTI Charges

	March 31, 2012			December 31, 2011
Beginning balance of the amount related to credit loss for which a portion of OTTI was recognized in other comprehensive income	$	(18,398	)	$	(18,332	)
Additions related to credit loss for securities with previously recognized OTTI		—			(37	)
Additions related to credit loss for securities with initial OTTI		—			(29	)
Ending balance of the amount related to credit loss for which a portion of OTTI was recognized in other comprehensive income	$	(18,398	)	$	(18,398	)

Trust Preferred Securities

	$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)
Deal Name	Class	Current Par Value		Amortized Cost		Fair Value		Unrealized Loss			Lowest Credit Ratings	Number of Issuers Currently Performing		Actual Defaults (as a percent of original collateral)		Actual Deferrals (as a percent of original collateral)		Projected Recovery Rates on Current Deferrals (1)		Expected Defaults (%) (2)		Excess Subordination (as a percent of current collateral) (3)
Pooled TPS:
P1	C1	$	5,500	$	2,312	$	958	$	(1,354	)	C		43		21		13		41		11		0.00
P2	C1		4,889		2,794		785		(2,009	)	C		44		16		14		30		12		0.00
P3	C1		5,561		4,218		1,145		(3,073	)	C		46		13		10		33		13		0.00
P4	C1		3,994		2,891		822		(2,069	)	C		51		15		9		38		13		0.00
P5	MEZ		474		297		215		(82	)	C		14		19		7		75		10		0.00
P6	MEZ		1,909		999		571		(428	)	C		14		21		15		39		11		0.00
P7	B3		2,000		726		319		(407	)	C		19		29		13		47		10		0.00
P8	B1		3,028		2,386		682		(1,704	)	C		49		14		21		41		12		0.00
P9	C		5,048		756		238		(518	)	C		33		14		31		42		11		0.00
P10	C		507		461		63		(398	)	C		47		13		19		31		11		0.00
P11	C		2,010		788		112		(676	)	C		39		16		17		42		13		0.00
P12	A4L		2,000		645		132		(513	)	C		22		16		26		53		12		0.00
Total OTTI			36,920		19,273		6,042		(13,231	)			421		17		16		40		12
P13	SNR		1,506		1,564		1,387		(177	)	BBB		11		15		14		43		10		77.27
P14	C1		5,219		866		909		43		C		43		21		13		41		11		0.00
P15	A2A		5,000		1,995		1,948		(47	)	CCC		44		16		14		30		12		43.23
P16	C1		4,781		1,064		985		(79	)	C		46		13		10		33		13		0.00
P17	C1		5,260		1,010		1,083		73		C		51		15		9		38		13		0.00
P18	C1		5,190		837		706		(131	)	C		56		14		18		33		14		0.00
P19	C1		3,206		320		173		(147	)	C		42		19		15		37		14		0.00
P20	C		3,339		504		618		114		C		35		15		19		33		15		0.00
P21	B		2,069		559		549		(10	)	C		34		12		25		33		16		20.04
P22	B2		5,000		2,145		2,176		31		CCC		21		0		8		10		10		41.76
P23	MEZ		1,894		567		566		(1	)	C		14		21		15		39		11		0.00
P24	B2		1,000		268		270		2		C		47		13		15		27		14		3.30
P25	B		4,008		895		933		38		C		39		16		17		42		13		10.49
P26	SNR		4,344		2,534		2,511		(23	)	CCC		50		21		7		40		12		48.61
P27	B		5,000		1,195		1,202		7		C		17		16		8		32		11		0.00
P28	C1		5,531		1,120		1,015		(105	)	C		27		15		13		41		10		0.00
P29	C1		5,606		1,008		1,119		111		C		26		16		13		48		11		0.00
Total Not OTTI			67,953		18,451		18,150		(301	)			603		15		13		35		13
Total Pooled TPS		$	104,873	$	37,724	$	24,192	$	(13,532	)			1,024		16		14		38		12

Following is information about the Corporation's PCI loans:

	$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)		$(13,532)	$(13,532)	$(13,532)	$(13,532)	$(13,532)	$(13,532)
Deal Name	Class	Current Par Value		Amortized Cost		Fair Value		Unrealized Loss			Lowest Credit Ratings	Number of Issuers Currently Performing		Actual Defaults (as a percent of original collateral)	Actual Deferrals (as a percent of original collateral)	Projected Recovery Rates on Current Deferrals (1)	Expected Defaults (%) (2)	Excess Subordination (as a percent of current collateral) (3)
Single Issuer TPS:
S1		$	2,000	$	1,950	$	1,400	$	(550	)	BB		1
S2			2,000		1,916		1,522		(394	)	BBB		1
S3			1,000		954		1,018		64		BB-		1
S4			2,000		2,000		1,840		(160	)	BB		1
S5			1,000		999		705		(294	)	BB		1
S6			1,300		1,324		1,301		(23	)	BB		1
Total Single Issuer TPS		$	9,300	$	9,143	$	7,786	$	(1,357	)			6
Total TPS		$	114,173	$	46,867	$	31,978	$	(14,889	)			1,030

(1) Some current deferrals will cure at rates varying from 10% to 90% after five years.

(2) Expected future defaults as a percent of remaining performing collateral.

(3) Excess subordination represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences any credit impairment.

Non-Agency Collateralized Mortgage Obligations

													Subordination Data
					Credit Rating				Credit Support %				Delinquency %												%		Original		Original
Security	Original Year		Book Value (1)		S&P		Moody's		Original		Current		. 30 Day		60 Day		90 Day		% Foreclosure		% OREO		% Bankruptcy		Total Delinquency		% LTV		Credit Score
1		2003	$	2,368		AAA		n/a		2.5		6.3		1.1		0.4		0.8		0.9		0.0		1.6		4.9		51.3		736
2		2003		1,759		AAA		n/a		4.3		17.0		2.2		1.2		3.6		3.3		0.7		1.3		12.2		55.3		709
3		2003		1,075		AAA		n/a		2.0		7.0		0.5		0.6		0.3		3.6		0.0		0.5		5.5		46.4		740
4		2003		1,081		AAA		n/a		2.7		19.3		2.3		0.0		0.2		3.1		0.6		2.2		8.4		48.9		n/a
5		2003		3,838		AAA		n/a		2.5		5.0		1.0		0.2		0.9		1.6		0.0		0.6		4.4		50.5		731
6		2004		3,269		AAA		Baa2		7.0		20.5		2.2		0.8		2.7		10.0		0.7		0.9		17.3		54.6		690
7		2004		2,087		AA+		n/a		5.3		10.4		0.3		0.0		3.1		4.0		0.0		1.1		8.5		45.8		732
8		2004		971		n/a		A1		2.5		9.3		1.2		0.0		1.2		5.9		0.0		0.0		8.4		54.6		733
9		2004		1,522		AAA		Baa2		4.4		9.4		1.5		0.9		0.6		2.8		0.4		1.3		7.4		54.5		733
10		2005		5,520		CCC		Caa1		5.1		4.0		4.5		0.8		6.8		11.6		2.0		2.6		28.3		65.1		705
			$	23,490						4.0		9.6																54.7		718

(1) One acquired available for sale non-agency CMO with a March 31, 2012 book value of $28 is not included in the above table. The bond rating at acquisition was AAA and is now Baa2. This non-agency CMO is current with regards to principal and interest.