Securities (Tables)

3 Months Ended

Mar. 31, 2013

Text Block [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, 2013
U.S. government-sponsored entities	$	353,703	$	1,240	$	(125	)	$	354,818
Residential mortgage-backed securities:
Agency mortgage-backed securities		227,465		6,823		—			234,288
Agency collateralized mortgage obligations		500,955		4,072		(692	)		504,335
Non-agency collateralized mortgage obligations		2,386		27		—			2,413
States of the U.S. and political subdivisions		20,382		1,045		—			21,427
Collateralized debt obligations		35,226		888		(12,785	)		23,329
Other debt securities		21,786		764		(907	)		21,643
Total debt securities		1,161,903		14,859		(14,509	)		1,162,253
Equity securities		1,554		543		(23	)		2,074
	$	1,163,457	$	15,402	$	(14,532	)	$	1,164,327
December 31, 2012
U.S. government-sponsored entities	$	352,910	$	1,676	$	(129	)	$	354,457
Residential mortgage-backed securities:
Agency mortgage-backed securities		267,575		7,575		—			275,150
Agency collateralized mortgage obligations		465,574		4,201		(228	)		469,547
Non-agency collateralized mortgage obligations		2,679		50		—			2,729
States of the U.S. and political subdivisions		23,592		1,232		—			24,824
Collateralized debt obligations		34,765		967		(13,276	)		22,456
Other debt securities		21,790		695		(972	)		21,513
Total debt securities		1,168,885		16,396		(14,605	)		1,170,676
Equity securities		1,554		462		(9	)		2,007
	$	1,170,439	$	16,858	$	(14,614	)	$	1,172,683

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2013
U.S. Treasury	$	503	$	174	$	—		$	677
U.S. government-sponsored entities		43,611		301		(98	)		43,814
Residential mortgage-backed securities:
Agency mortgage-backed securities		692,631		23,986		(21	)		716,596
Agency collateralized mortgage obligations		221,081		1,392		(352	)		222,121
Non-agency collateralized mortgage obligations		9,180		107		(2	)		9,285
Commercial mortgage-backed securities		1,023		28		—			1,051
States of the U.S. and political subdivisions		142,022		5,191		(12	)		147,201
Collateralized debt obligations		505		—		(27	)		478
	$	1,110,556	$	31,179	$	(512	)	$	1,141,223

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2012
U.S. Treasury	$	503	$	188	$	—		$	691
U.S. government-sponsored entities		28,731		280		(99	)		28,912
Residential mortgage-backed securities:
Agency mortgage-backed securities		780,022		28,783		(1	)		808,804
Agency collateralized mortgage obligations		133,976		1,266		—			135,242
Non-agency collateralized mortgage obligations		14,082		130		—			14,212
Commercial mortgage-backed securities		1,024		39		—			1,063
States of the U.S. and political subdivisions		147,713		6,099		—			153,812
Collateralized debt obligations		512		—		(35	)		477
	$	1,106,563	$	36,785	$	(135	)	$	1,143,213

Gross Gains And Gross Losses Realized On Sales Of Securities

	Three Months Ended March 31,
	2013			2012
Gross gains	$	1,032		$	349
Gross losses		(348	)		(241	)
	$	684		$	108

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	$	4,904	$	4,909	$	4,863	$	4,921
Due from one to five years		268,114		269,946		17,960		18,297
Due from five to ten years		105,308		106,050		86,216		88,238
Due after ten years		52,771		40,312		77,602		80,714
		431,097		421,217		186,641		192,170
Residential mortgage-backed securities:
Agency mortgage-backed securities		227,465		234,288		692,631		716,596
Agency collateralized mortgage obligations		500,955		504,335		221,081		222,121
Non-agency collateralized mortgage obligations		2,386		2,413		9,180		9,285
Commercial mortgage-backed securities		—		—		1,023		1,051
Equity securities		1,554		2,074		—		—
	$	1,163,457	$	1,164,327	$	1,110,556	$	1,141,223

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
March 31, 2013
U.S. government-sponsored entities		2	$	34,872	$	(125	)		—	$	—	$	—			2	$	34,872	$	(125	)
Residential mortgage-backed securities:
Agency collateralized mortgage obligations		9		157,723		(692	)		—		—		—			9		157,723		(692	)
Collateralized debt obligations		1		1,045		(227	)		13		12,938		(12,558	)		14		13,983		(12,785	)
Other debt securities		—		—		—			4		5,967		(907	)		4		5,967		(907	)
Equity securities		1		639		(23	)		—		—		—			1		639		(23	)
		13	$	194,279	$	(1,067	)		17	$	18,905	$	(13,465	)		30	$	213,184	$	(14,532	)
December 31, 2012
U.S. government-sponsored entities		3	$	44,868	$	(129	)		—	$	—	$	—			3	$	44,868	$	(129	)
Residential mortgage-backed securities:
Agency collateralized mortgage obligations		3		47,174		(228	)		—		—		—			3		47,174		(228	)
Collateralized debt obligations		7		8,708		(909	)		9		5,532		(12,367	)		16		14,240		(13,276	)
Other debt securities		—		—		—			4		5,899		(972	)		4		5,899		(972	)
Equity securities		1		654		(9	)		—		—		—			1		654		(9	)
		14	$	101,404	$	(1,275	)		13	$	11,431	$	(13,339	)		27	$	112,835	$	(14,614	)

Securities held to maturity:

	Less than 12 Months							12 Months or More							Total
	#		Fair Value		Unrealized Losses			#		Fair Value		Unrealized Losses			#		Fair Value		Unrealized Losses
March 31, 2013
U.S. government-sponsored entities		1	$	14,902	$	(98	)		—	$	—	$	—			1	$	14,902	$	(98	)
Residential mortgage-backed securities:
Agency mortgage-backed securities		1		1,394		(21	)		—		—		—			1		1,394		(21	)
Agency collateralized mortgage obligations		5		94,133		(352	)		—		—		—			5		94,133		(352	)
Non-agency collateralized mortgage obligations		1		1,306		(2	)		—		—		—			1		1,306		(2	)
States of the U.S. and political Subdivisions		4		6,496		(12	)		—		—		—			4		6,496		(12	)
Collateralized debt obligations		—		—		—			1		477		(27	)		1		477		(27	)
		12	$	118,231	$	(485	)		1	$	477	$	(27	)		13	$	118,708	$	(512	)
December 31, 2012
U.S. government-sponsored entities		1	$	14,901	$	(99	)		—	$	—	$	—			1	$	14,901	$	(99	)
Residential mortgage-backed securities:
Agency mortgage-backed securities		1		1,424		(1	)		—		—		—			1		1,424		(1	)
Collateralized debt obligations		—		—		—			1		477		(35	)		1		477		(35	)
		2	$	16,325	$	(100	)		1	$	477	$	(35	)		3	$	16,802	$	(135	)

Summary Of Cumulative Credit-Related OTTI Charges

	Collateralized Debt Obligations		Residential Non-Agency CMOs			Total
For the Three Months Ended March 31, 2013
Beginning balance	$	17,155	$	212		$	17,367
Loss where impairment was not previously recognized		—		—			—
Additional loss where impairment was previously recognized		—		—			—
Reduction due to credit impaired securities sold		—		(212	)		(212	)
Ending balance	$	17,155	$	—		$	17,155
For the Three Months Ended March 31, 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		—		—			—
Ending balance	$	18,369	$	29		$	18,398

Trust Preferred Securities

Deal Name	Class		Current Par Value		Amortized Cost		Fair Value		Unrealized Gain (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	$	2,491	$	1,103	$	(1,388	)		C		42		22		12		46		17		0.00
P2		C1		4,889		2,972		972		(2,000	)		C		42		17		14		38		15		0.00
P3		C1		5,561		4,260		1,292		(2,968	)		C		47		13		9		31		16		0.00
P4		C1		3,994		3,039		943		(2,096	)		C		52		16		6		37		16		0.00
P5		B3		2,000		739		327		(412	)		C		15		29		10		46		11		0.00
P6		B1		3,028		2,419		826		(1,593	)		C		49		14		21		44		10		0.00
P7		C		5,048		776		388		(388	)		C		34		14		28		39		13		0.00
P8		C		2,011		788		185		(603	)		C		43		16		12		36		17		0.00
P9		A4L		2,000		645		228		(417	)		C		25		16		14		44		11		0.00
Total OTTI				34,031		18,129		6,264		(11,865	)				349		17		14		40		15
P10		SNR		488		505		478		(27	)		A2		8		15		11		51		11		103.71
P11		C1		5,219		1,012		1,047		35			C		42		22		12		46		17		0.00
P12		A2A		5,000		2,124		1,896		(228	)		B+		43		17		14		38		15		44.37
P13		C1		4,781		1,225		1,111		(114	)		C		47		13		9		31		16		0.00
P14		C1		5,260		1,179		1,242		63			C		52		16		6		37		16		0.00
P15		C1		5,190		979		1,189		210			C		59		15		12		35		17		4.20
P16		C1		3,206		370		537		167			C		44		19		6		27		18		0.00
P17		C		3,339		601		638		37			C		35		15		13		26		16		0.00
P18		B		2,069		633		541		(92	)		C		33		13		24		34		14		17.67
P19		B2		5,000		2,199		2,540		341			CCC		22		0		4		10		13		42.23
P20		B		4,051		939		963		24			C		40		16		12		36		17		11.80
P21		A1		3,523		2,094		2,015		(79	)		BB-		47		21		6		40		15		51.55
P22		B		5,000		1,271		1,044		(227	)		C		15		18		6		44		11		0.00
P23		C1		5,531		1,291		1,111		(180	)		C		26		15		12		36		10		0.00
P24		C1		5,606		1,180		1,191		11			C		26		16		9		43		11		0.00
Total Not OTTI				63,263		17,602		17,543		(59	)				539		16		10		36		15
Total Pooled TPS			$	97,294	$	35,731	$	23,807	$	(11,924	)				888		16		11		38		15

Deal Name	Class	Current Par Value		Amortized Cost		Fair Value		Unrealized Gain (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	$	1,953	$	1,533	$	(420	)		BB		1
S2			2,000		1,921		1,664		(257	)		BBB		1
S3			1,000		955		1,033		78			BB+		1
S4			2,000		2,000		1,985		(15	)		BB+		1
S5			1,000		999		784		(215	)		BB		1
Total Single Issuer TPS		$	8,000	$	7,828	$	6,999	$	(829	)				5
Total TPS		$	105,294	$	43,559	$	30,806	$	(12,753	)				893

(1) Some current deferrals are expected to 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 %												%
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	$	1,386		AA+		n/a		2.5		6.9		3.2		0.4		1.3		1.3		0.2		1.2		7.6		50.5		733
2		2003		1,308		A+		n/a		4.3		17.4		3.5		1.8		1.9		4.4		0.6		1.4		13.5		54.1		708
3		2003		675		AA-		n/a		2.0		8.1		1.5		0.3		3.4		1.5		0.3		0.4		7.3		45.8		740
4		2003		605		AA+		n/a		2.7		21.0		1.8		0.0		0.0		2.2		2.0		2.4		8.3		48.1		n/a
5		2003		2,364		BBB+		n/a		2.5		5.8		1.2		0.6		0.6		2.8		0.0		0.5		5.8		50.0		729
6		2004		2,340		A+		Ba3		7.0		21.3		2.4		0.8		3.1		10.8		0.5		3.6		21.2		54.5		689
7		2004		1,238		A+		n/a		5.3		10.4		1.0		0.7		2.1		4.1		0.0		0.9		8.8		45.0		731
8		2004		697		n/a		A1		2.5		11.5		0.0		0.0		0.0		6.6		0.0		0.0		6.6		53.9		727
9		2004		931		AA+		Baa2		4.4		10.0		1.4		0.6		0.8		3.2		0.4		1.3		7.7		53.5		733
			$	11,544						3.9		12.5																51.1		720

(1) One acquired available for sale non-agency CMO with a March 31, 2013 book value of $22 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.