Securities (Tables)

6 Months Ended

Jun. 30, 2012

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2012
U.S. Treasury and other U.S. government agencies and corporations	$	353,522	$	1,315	$	—		$	354,837
Residential mortgage-backed securities:
Agency mortgage-backed securities		321,892		7,451		(17	)		329,326
Agency collateralized mortgage obligations		306,733		3,784		—			310,517
Non-agency collateralized mortgage obligations		3,267		1		(14	)		3,254
States of the U.S. and political subdivisions		27,060		1,420		—			28,480
Collateralized debt obligations		34,556		178		(14,290	)		20,444
Other debt securities		23,826		564		(1,275	)		23,115
Total debt securities		1,070,856		14,713		(15,596	)		1,069,973
Equity securities		1,555		420		(24	)		1,951
	$	1,072,411	$	15,133	$	(15,620	)	$	1,071,924

	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
June 30, 2012
U.S. Treasury and other U.S. government agencies and corporations	$	4,399	$	413	$	—		$	4,812
Residential mortgage-backed securities:
Agency mortgage-backed securities		915,239		31,300		(16	)		946,523
Agency collateralized mortgage obligations		109,107		967		—			110,074
Non-agency collateralized mortgage obligations		17,814		97		(940	)		16,971
Commercial mortgage-backed securities		1,025		13		—			1,038
States of the U.S. and political subdivisions		153,525		6,127		(116	)		159,536
Collateralized debt obligations		808		—		(108	)		700
Other debt securities		1,323		—		(21	)		1,302
	$	1,203,240	$	38,917	$	(1,201	)	$	1,240,956
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 June 30,					Six Months Ended June 30,
	2012			2011		2012			2011
Gross gains	$	447		$	38	$	796		$	288
Gross losses		(187	)		—		(428	)		(196	)
	$	260		$	38	$	368		$	92

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	$	19,598	$	19,641	$	6,696	$	6,813
Due from one to five years		346,533		348,008		10,901		11,336
Due from five to ten years		16,700		17,734		47,742		49,836
Due after ten years		56,133		41,493		94,716		98,365
		438,964		426,876		160,055		166,350
Residential mortgage-backed securities:
Agency mortgage-backed securities		321,892		329,326		915,239		946,523
Agency collateralized mortgage obligations		306,733		310,517		109,107		110,074
Non-agency collateralized mortgage obligations		3,267		3,254		17,814		16,971
Commercial mortgage-backed securities		—		—		1,025		1,038
Equity securities		1,555		1,951		—		—
	$	1,072,411	$	1,071,924	$	1,203,240	$	1,240,956

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

	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
June 30, 2012
Residential mortgage-backed securities:
Agency mortgage-backed securities	$	5,197	$	(17	)	$	—	$	—		$	5,197	$	(17	)
Non-agency collateralized mortgage obligations		3,226		(14	)		—		—			3,226		(14	)
Collateralized debt obligations		11,290		(1,130	)		5,242		(13,160	)		16,532		(14,290	)
Other debt securities		—		—			5,593		(1,275	)		5,593		(1,275	)
Equity securities		720		(24	)		—		—			720		(24	)
	$	20,433	$	(1,185	)	$	10,835	$	(14,435	)	$	31,268	$	(15,620	)

	Less than 12 Months					12 Months or More					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	)

	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
June 30, 2012
Residential mortgage-backed securities:
Agency mortgage-backed securities	$	20,407	$	(16	)	$	—	$	—		$	20,407	$	(16	)
Non-agency collateralized mortgage obligations		2,974		(18	)		3,917		(922	)		6,891		(940	)
States of the U.S. and political subdivisions		13,194		(116	)		—		—			13,194		(116	)
Collateralized debt obligations		—		—			700		(108	)		700		(108	)
Other debt securities		—		—			1,301		(21	)		1,301		(21	)
	$	36,575	$	(150	)	$	5,918	$	(1,051	)	$	42,493	$	(1,201	)
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

	Collateralized Debt Obligations			Residential Non-Agency CMOs			Total
For the Six Months Ended June 30, 2012
Beginning balance	$	(18,369	)	$	(29	)	$	(18,398	)
Loss where impairment was not previously recognized		—			—			—
Additional loss where impairment was previously recognized		—			—			—
Reduction due to credit impaired securities sold		1,056			29			1,085
Ending balance	$	(17,313	)	$	—		$	(17,313	)
For the Six Months Ended June 30, 2011
Beginning balance	$	(18,332	)	$	—		$	(18,332	)
Loss where impairment was not previously recognized		—			—			—
Additional loss where impairment was previously recognized		—			—			—
Reduction due to credit impaired securities sold		—			—			—
Ending balance	$	(18,332	)	$	—		$	(18,332	)

Trust Preferred Securities

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	$	2,355	$	906	$	(1,449	)	C		42		21		13		38		11		0.00
P2	C1		4,889		2,840		781		(2,059	)	C		43		17		15		37		17		0.00
P3	C1		5,561		4,218		1,060		(3,158	)	C		47		13		9		34		12		0.00
P4	C1		3,994		2,931		745		(2,186	)	C		51		15		9		39		13		0.00
P5	MEZ		474		296		214		(82	)	C		14		19		7		75		8		0.00
P6	B3		2,000		726		333		(393	)	C		19		29		13		48		10		0.00
P7	B1		3,028		2,386		652		(1,734	)	C		49		14		21		41		12		0.00
P8	C		5,048		756		238		(518	)	C		33		14		32		43		11		0.00
P9	C		507		461		60		(401	)	C		47		13		19		37		11		0.00
P10	C		2,010		788		84		(704	)	C		39		16		16		39		12		0.00
P11	A4L		2,000		645		169		(476	)	C		23		16		23		43		12		0.00
Total OTTI			35,011		18,402		5,242		(13,160	)			407		17		16		41		12
P12	SNR		760		808		700		(108	)	BBB		11		15		14		43		10		77.27
P13	C1		5,219		902		860		(42	)	C		42		21		13		38		11		0.00
P14	A2A		5,000		2,027		1,814		(213	)	B		43		17		15		37		17		45.76
P15	C1		4,781		1,104		912		(192	)	C		47		13		9		34		12		0.00
P16	C1		5,260		1,052		980		(72	)	C		51		15		9		39		13		0.00
P17	C1		5,190		870		706		(164	)	C		56		14		18		33		14		0.00
P18	C1		3,206		331		174		(157	)	C		42		19		12		22		13		0.00
P19	C		3,339		527		618		91		C		35		15		16		24		14		0.00
P20	B		2,069		577		549		(28	)	C		34		12		25		33		16		20.04
P21	B2		5,000		2,158		2,176		18		CCC		21		0		8		10		10		41.76
P22	B		4,019		906		832		(74	)	C		39		16		16		39		12		10.42
P23	A1		3,887		2,278		2,247		(31	)	BB-		50		21		7		40		12		48.61
P24	B		5,000		1,211		1,202		(9	)	C		17		18		6		7		11		0.00
P25	C1		5,531		1,162		1,014		(148	)	C		27		15		12		40		10		0.00
P26	C1		5,606		1,049		1,118		69		C		26		16		13		48		11		0.00
Total Not OTTI			63,867		16,962		15,902		(1,060	)			541		16		12		33		13
Total Pooled TPS		$	98,878	$	35,364	$	21,144	$	(14,220	)			948		16		14		37		12

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	$	1,951	$	1,553	$	(398	)	BB		1
S2			2,000		1,917		1,427		(490	)	BBB		1
S3			1,000		954		1,005		51		BB-		1
S4			2,000		2,000		1,827		(173	)	BB-		1
S5			1,000		999		785		(214	)	BB		1
S6			1,300		1,323		1,302		(21	)	BB		1
Total Single Issuer TPS		$	9,300	$	9,144	$	7,899	$	(1,245	)			6
Total TPS		$	108,178	$	44,508	$	29,043	$	(15,465	)			954

(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	$	2,100		AAA		n/a		2.5		6.4		1.3		0.7		1.0		0.5		0.0		1.7		5.2		51.1		736
2		2003		1,616		AAA		n/a		4.3		17.2		3.3		0.9		3.2		4.2		0.7		1.7		14.0		55.1		709
3		2003		957		AAA		n/a		2.0		7.3		1.6		0.5		0.6		3.3		0.3		0.5		6.7		46.8		740
4		2003		974		AAA		n/a		2.7		19.9		0.0		1.1		0.0		2.9		0.4		2.0		6.4		48.3		n/a
5		2003		3,240		AAA		n/a		2.5		5.2		0.9		0.6		0.5		2.3		0.1		0.8		5.3		50.5		731
6		2004		2,993		AAA		Ba3		7.0		20.6		2.4		0.5		3.0		10.8		0.2		1.4		18.2		54.9		690
7		2004		1,978		AA+		n/a		5.3		10.4		0.0		0.6		3.1		5.0		0.0		1.2		10.0		45.6		732
8		2004		928		n/a		A1		2.5		10.0		0.0		0.0		1.4		5.2		0.0		0.0		6.6		54.3		733
9		2004		1,429		AAA		Baa2		4.4		9.5		1.2		0.6		1.0		2.8		0.3		1.5		7.4		54.2		733
10		2005		4,839		CCC		Caa1		5.1		3.0		2.8		1.8		7.3		10.0		0.7		3.3		25.9		65.1		705
			$	21,054						4.0		9.7																54.6		718

(1) One acquired available for sale non-agency CMO with a June 30, 2012 book value of $27 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.