Investment Securities (Tables)

12 Months Ended

Dec. 31, 2011

Investment Securities

Schedule of amortized cost, gross unrealized gains and losses, and fair value of investment securities

(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2011
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	1,220,282	$	11,204	$	(468	)	$	1,231,018
Debt Securities Issued by States and Political Subdivisions		391,276		15,783		-			407,059
Debt Securities Issued by Corporations		97,917		607		(2,137	)		96,387
Mortgage-Backed Securities Issued by Government Agencies		1,618,913		38,066		(1,107	)		1,655,872
U.S. Government-Sponsored Enterprises		58,548		3,001		-			61,549
Total Mortgage-Backed Securities		1,677,461		41,067		(1,107	)		1,717,421
Total	$	3,386,936	$	68,661	$	(3,712	)	$	3,451,885
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	179,474	$	6,704	$	-		$	186,178
Mortgage-Backed Securities Issued by Government Agencies		3,429,038		89,801		(2,918	)		3,515,921
U.S. Government-Sponsored Enterprises		49,284		2,823		-			52,107
Total Mortgage-Backed Securities		3,478,322		92,624		(2,918	)		3,568,028
Total	$	3,657,796	$	99,328	$	(2,918	)	$	3,754,206
December 31, 2010
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	536,770	$	19,131	$	(45	)	$	555,856
Debt Securities Issued by States and Political Subdivisions		113,715		1,477		(1,583	)		113,609
Debt Securities Issued by U.S. Government-Sponsored Enterprises		500		5		-			505
Mortgage-Backed Securities Issued by Government Agencies		5,696,907		84,008		(30,887	)		5,750,028
U.S. Government-Sponsored Enterprises		109,259		4,617		-			113,876
Total Mortgage-Backed Securities		5,806,166		88,625		(30,887	)		5,863,904
Total	$	6,457,151	$	109,238	$	(32,515	)	$	6,533,874
Held-to-Maturity:
Mortgage-Backed Securities Issued by Government Agencies	$	47,368	$	2,959	$	-		$	50,327
U.S. Government-Sponsored Enterprises		79,881		3,820		-			83,701
Total	$	127,249	$	6,779	$	-		$	134,028
December 31, 2009
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	711,223	$	11,248	$	(1,679	)	$	720,792
Debt Securities Issued by States and Political Subdivisions		52,742		1,391		(17	)		54,116
Debt Securities Issued by U.S. Government-Sponsored Enterprises		751		41		-			792
Mortgage-Backed Securities Issued by Government Agencies		4,015,816		26,900		(20,029	)		4,022,687
U.S. Government-Sponsored Enterprises		509,225		23,276		(54	)		532,447
Total Mortgage-Backed Securities		4,525,041		50,176		(20,083	)		4,555,134
Total	$	5,289,757	$	62,856	$	(21,779	)	$	5,330,834
Held-to-Maturity:
Mortgage-Backed Securities Issued by Government Agencies	$	59,542	$	1,879	$	-		$	61,421
U.S. Government-Sponsored Enterprises		121,476		3,771		-			125,247
Total	$	181,018	$	5,650	$	-		$	186,668

Analysis of the contractual maturities of investment securities

(dollars in thousands)	Amortized Cost		Fair Value
Available-for-Sale:
Due in One Year or Less	$	352,504	$	353,696
Due After One Year Through Five Years		610,737		617,966
Due After Five Years Through Ten Years		168,304		175,800
Due After Ten Years		577,930		587,002
		1,709,475		1,734,464
Mortgage-Backed Securities Issued by Government Agencies		1,618,913		1,655,872
U.S. Government-Sponsored Enterprises		58,548		61,549
Total Mortgage-Backed Securities		1,677,461		1,717,421
Total	$	3,386,936	$	3,451,885
Held-to-Maturity:
Due After One Year Through Five Years	$	179,474	$	186,178
Mortgage-Backed Securities Issued by Government Agencies		3,429,038		3,515,921
U.S. Government-Sponsored Enterprises		49,284		52,107
Total Mortgage-Backed Securities		3,478,322		3,568,028
Total	$	3,657,796	$	3,754,206

Gross gains and losses from sale of investment securities

(dollars in thousands)	2011			2010			2009
Gross Gains on Sales of Investment Securities	$	10,874		$	42,867		$	37,541
Gross Losses on Sales of Investment Securities		(4,508	)		(19	)		(11,771	)
Net Gains on Sales of Investment Securities	$	6,366		$	42,848		$	25,770

Schedule of investment securities in an unrealized loss position

	Less Than 12 Months					12 Months or Longer					Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
December 31, 2011
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	127,644	$	(464	)	$	920	$	(4	)	$	128,564	$	(468	)
Debt Securities Issued by Corporations		38,059		(2,137	)		-		-			38,059		(2,137	)
Mortgage-Backed Securities Issued by Government Agencies		727,726		(3,751	)		34,824		(274	)		762,550		(4,025	)
Total	$	893,429	$	(6,352	)	$	35,744	$	(278	)	$	929,173	$	(6,630	)
December 31, 2010
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	1,366	$	(36	)	$	1,204	$	(9	)	$	2,570	$	(45	)
Debt Securities Issued by States and Political Subdivisions		67,754		(1,583	)		-		-			67,754		(1,583	)
Mortgage-Backed Securities Issued by Government Agencies		1,662,897		(30,887	)		-		-			1,662,897		(30,887	)
Total	$	1,732,017	$	(32,506	)	$	1,204	$	(9	)	$	1,733,221	$	(32,515	)