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Note 3 - Securities (Tables)

9 Months Ended

21 Months Ended

Sep. 30, 2012

Sep. 30, 2012

Securities Portfolio [Table Text Block]

		September 30, 2012															December 31, 2011
		Amortized			Gross Unrealized								Fair				Amortized				Gross Unrealized								Fair
		Cost			Gains				Losses				Value				Cost				Gains				Losses				Value
Securities Available-for-Sale
U.S. agency securities		$	2,003			$	-			$	(1	)		$	2,002			$	5,060			$	-			$	(25	)		$	5,035
Collateralized residential mortgage obligations (“CMOs”)			511,242				4,054				(1,864	)			513,432				383,828				2,622				(2,346	)			384,104
Other residential mortgage-backed securities (“MBSs”)			128,750				6,399				(14	)			135,135				81,982				5,732				(23	)			87,691
Municipal securities			474,461				28,901				(47	)			503,315				464,282				26,155				(366	)			490,071
Collateralized debt obligations (“CDOs”)			46,633				-				(35,087	)			11,546				48,759				-				(35,365	)			13,394
Corporate debt securities			13,008				2,304				-				15,312				27,511				2,514				(11	)			30,014
Equity securities:
Hedge fund investment			1,230				984				-				2,214				1,231				385				-				1,616
Other equity securities			8,296				330				-				8,626				958				123				-				1,081
Total equity securities			9,526				1,314				-				10,840				2,189				508				-				2,697
Total		$	1,185,623			$	42,972			$	(37,013	)		$	1,191,582			$	1,013,611			$	37,531			$	(38,136	)		$	1,013,006
Securities Held-to-Maturity
Municipal securities		$	41,944			$	3,689			$	-			$	45,633			$	60,458			$	1,019			$	-			$	61,477
Trading Securities (1)														$	15,512															$	14,469

Investments Classified by Contractual Maturity Date [Table Text Block]

		September 30, 2012
		Available-for-Sale								Held-to-Maturity
		Amortized Cost				Fair Value				Amortized Cost				Fair Value
One year or less		$	10,118			$	10,044			$	7,003			$	7,619
One year to five years			364,520				361,848				10,368				11,280
Five years to ten years			91,830				91,157				8,409				9,148
After ten years			69,637				69,126				16,164				17,586
CMOs			511,242				513,432				-				-
Other residential MBSs			128,750				135,135				-				-
Equity securities			9,526				10,840				-				-
Total		$	1,185,623			$	1,191,582			$	41,944			$	45,633

Realized Gain (Loss) on Investments [Table Text Block]

		Quarters Ended September 30,								Nine Months Ended September 30,
		2012				2011				2012				2011
Proceeds from sales		$	38,574			$	80,126			$	50,633			$	177,456
(Losses) gains on sales of securities:
Gross realized gains		$	131			$	671			$	1,734			$	3,453
Gross realized losses			(348	)			(45	)			(601	)			(756	)
Net realized (losses) gains on securities sales			(217	)			626				1,133				2,697
Non-cash impairment charges:
Other-than-temporary impairment (“OTTI”)			-				(641	)			(2,328	)			(641	)
Portion of OTTI recognized in other comprehensive income			-				464				186				464
Net non-cash impairment charges			-				(177	)			(2,142	)			(177	)
Net realized (losses) gains		$	(217	)		$	449			$	(1,009	)		$	2,520
Income tax (benefit) expense on net realized (losses) gains		$	(89	)		$	184			$	(413	)		$	1,031
Net trading gains (losses) (1)		$	685			$	(2,352	)		$	1,511			$	(1,610	)

Credit Related CDO Impairment Losses [Table Text Block]

		Quarters Ended September 30,								Nine Months Ended September 30,
CDO Number		2012				2011				2012				2011				Life-to-Date
1		$	-			$	-			$	-			$	-			$	10,360
2			-				-				1,535				-				9,403
3			-				177				591				177				2,161
4			-				-				-				-				1,078
5			-				-				-				-				8,570
6			-				-				-				-				243
7			-				-				-				-				6,750
		$	-			$	177			$	2,126			$	177			$	38,565

Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]

		Quarters Ended September 30,								Nine Months Ended September 30,
		2012				2011				2012				2011
Cumulative amount recognized at beginning of period		$	38,667			$	35,589			$	36,525			$	35,589
Credit losses included in earnings (1):
Losses recognized on securities that previously had credit losses			-				177				2,142				177
Losses recognized on securities that did not previously have credit losses			-				-				-				-
Cumulative amount recognized at end of period		$	38,667			$	35,766			$	38,667			$	35,766

Unrealized Gain (Loss) on Investments [Table Text Block]

						Less Than 12 Months								12 Months or Longer								Total
		Number of Securities				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
As of September 30, 2012
U.S. agency securities			1			$	2,002			$	1			$	-			$	-			$	2,002			$	1
CMOs			34				216,137				1,722				7,167				142				223,304				1,864
Other residential MBOs			4				517				1				103				13				620				14
Municipal securities			9				2,473				14				3,128				33				5,601				47
CDOs			6				-				-				11,546				35,087				11,546				35,087
Total			54			$	221,129			$	1,738			$	21,944			$	35,275			$	243,073			$	37,013

As of December 31, 2011
U.S. agency securities			2			$	-			$	-			$	5,035			$	25			$	5,035			$	25
CMOs			30				163,819				1,818				12,628				528				176,447				2,346
Other residential MBOs			4				182				17				1,072				6				1,254				23
Municipal securities			19				934				2				7,857				364				8,791				366
CDOs			6				-				-				13,394				35,365				13,394				35,365
Corporate debt securities			1				2,157				11				-				-				2,157				11
Total			62			$	167,092			$	1,848			$	39,986			$	36,288			$	207,078			$	38,136

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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