Investment Securities (Tables)

9 Months Ended

Sep. 30, 2011

Sep. 30, 2010

Investment Securities

Amortized Cost And Fair Value Of Available-For-Sale And Held-To-Maturity Investment Securities Portfolio

		Amortized Unrealized				Unrealized			Fair
(dollars in thousands)		Cost		Gains		Losses			Value
September 30, 2011
Available-for-sale
U.S. Treasury	$	65,260	$	691	$	0		$	65,951
U.S. Government-sponsored entities and agencies		178,387		2,547		0			180,934
Mortgage-backed securities - Agency		1,312,193		34,705		(364	)		1,346,534
Mortgage-backed securities - Non-agency		98,570		532		(4,051	)		95,051
States and political subdivisions		365,305		26,051		(154	)		391,202
Pooled trust preferrred securities		27,346		0		(19,816	)		7,530
Other securities		158,224		9,684		(2,021	)		165,887
Total available-for-sale securities	$	2,205,285	$	74,210	$	(26,406	)	$	2,253,089
Held-to-maturity
U.S. Government-sponsored entities and agencies	$	177,963	$	11,654	$	0		$	189,617
Mortgage-backed securities - Agency		91,622		3,750		0			95,372
States and political subdivisions		216,643		8,848		(107	)		225,384
Other securities		7,054		0		0			7,054
Total held-to-maturity securities	$	493,282	$	24,252	$	(107	)	$	517,427
December 31, 2010
Available-for-sale
U.S. Treasury	$	62,206	$	371	$	(27	)	$	62,550
U.S. Government-sponsored entities and agencies		315,922		1,612		(2,401	)		315,133
Mortgage-backed securities - Agency		922,005		22,926		(485	)		944,446
Mortgage-backed securities - Non-agency		134,168		1,018		(8,380	)		126,806
States and political subdivisions		343,970		7,503		(2,549	)		348,924
Pooled trust preferrred securities		27,368		0		(18,968	)		8,400
Other securities		148,203		7,816		(2,056	)		153,963
Total available-for-sale securities	$	1,953,842	$	41,246	$	(34,866	)	$	1,960,222
Held-to-maturity
U.S. Government-sponsored entities and agencies	$	303,265	$	2,247	$	(3,703	)	$	301,809
Mortgage-backed securities - Agency		117,013		2,577		(510	)		119,080
States and political subdivisions		217,381		1		(13,003	)		204,379
Other securities		551		0		(176	)		375
Total held-to-maturity securities	$	638,210	$	4,825	$	(17,392	)	$	625,643

Expected Maturities Of Investment Securities Portfolio

		September 30, 2011			Weighted
(dollars in thousands)		Amortized		Fair	Average
Maturity		Cost		Value	Yield
Available-for-sale
Within one year	$	172,177	$	175,012	3.02	%
One to five years		1,343,097		1,373,701	2.62
Five to ten years		219,497		231,257	4.11
Beyond ten years		470,514		473,119	4.92
Total	$	2,205,285	$	2,253,089	3.29	%
Held-to-maturity
Within one year	$	4,113	$	4,112	1.49	%
One to five years		96,402		100,192	3.58
Five to ten years		12,505		13,259	4.05
Beyond ten years		380,262		399,864	4.08
Total	$	493,282	$	517,427	3.96	%

Investment Securities With Unrealized Losses By Aggregated Major Security Type And Length Of Time In A Continuous Unrealized Loss Position

		Less than 12 months						12 months or longer					Total
		Fair Unrealized						Fair Unrealized					Fair Unrealized
(dollars in thousands)		Value		Losses				Value		Losses			Value		Losses
September 30, 2011
Available-for-Sale
Mortgage-backed securities - Agency	$	130,244	$	(364	)	$		3		0		$	130,247	$	(364	)
Mortgage-backed securities - Non-agency		9,685		(439	)			62,079		(3,612	)		71,764		(4,051	)
States and political subdivisions		2,780		(154	)			0		0			2,780		(154	)
Pooled trust preferrred securities		0		0				7,531		(19,816	)		7,531		(19,816	)
Other securities		8,222		(127	)			6,173		(1,894	)		14,395		(2,021	)
Total available-for-sale	$	150,931	$	(1,084	)	$		75,786	$	(25,322	)	$	226,717	$	(26,406	)
Held-to-Maturity
States and political subdivisions	$	0	$	0		$		13,324	$	(107	)	$	13,324	$	(107	)
Total held-to-maturity	$	0	$	0		$		13,324	$	(107	)	$	13,324	$	(107	)
December 31, 2010
Available-for-Sale
U.S. Treasury	$	10,944	$	(27	)		$	0	$	0		$	10,944	$	(27	)
U.S. Government-sponsored entities
and agencies		120,404		(2,401	)			0		0			120,404		(2,401	)
Mortgage-backed securities - Agency		160,784		(485	)			483		0			161,267		(485	)
Mortgage-backed securities - Non-agency		13,265		(1,696	)			79,327		(6,684	)		92,592		(8,380	)
States and political subdivisions		94,448		(2,549	)			0		0			94,448		(2,549	)
Pooled trust preferrred securities		0		0				8,400		(18,968	)		8,400		(18,968	)
Other securities		12,283		(206	)			6,204		(1,850	)		18,487		(2,056	)
Total available-for-sale	$	412,128	$	(7,364	)	$		94,414	$	(27,502	)	$	506,542	$	(34,866	)
Held-to-Maturity
U.S. Government-sponsored entities
and agencies	$	111,975	$	(3,703	)		$	0	$	0		$	111,975	$	(3,703	)
Mortgage-backed securities - Agency		67,837		(510	)			0		0			67,837		(510	)
States and political subdivisions		203,093		(13,003	)			0		0			203,093		(13,003	)
Other securities		0		0				375		(176	)		375		(176	)
Total held-to-maturity	$	382,905	$	(17,216	)		$	375	$	(176	)	$	383,280	$	(17,392	)

Pooled Trust Preferred Securities

Trust preferred securities															Actual		Expected		Excess
September 30, 2011															Deferrals and		Defaults as		Subordination
(Dollars in Thousands)														# of Issuers	Defaults as a		a % of		as a %
				Lowest						Unrealized Realized				Currently	Percent of		Remaining		of Current
				Credit Amortized				Fair		Gain/			Losses	Performing/	Original		Performing		Performing
		Class Rating (1)				Cost		Value		(Loss)			2011	Remaining	Collateral		Collateral		Collateral
Pooled trust preferred securities:
TROPC 2003-1A		A4	L	C	$	977	$	198	$	(779	)	$	0	18/39	41.7	%	17.5	%	0.0	%
MM Community Funding IX	B	-2		D		2,076		859		(1,217	)		0	16/31	41.1	%	8.5	%	0.0	%
Reg Div Funding 2004	B	-2		D		4,194		690		(3,504	)		0	24/45	46.0	%	6.8	%	0.0	%
Pretsl XII	B	-1		C		2,886		1,508		(1,378	)		0	50/77	30.4	%	6.7	%	0.0	%
Pretsl XV	B	-1		C		1,695		568		(1,127	)		0	49/72	36.4	%	10.0	%	0.0	%
Reg Div Funding 2005	B	-1		C		311		58		(253	)		0	23/49	49.3	%	29.0	%	0.0	%
MM Community Funding II		B		BB		987		959		(28	)		0	5/8	4.7	%	0.0	%	26.9	%
Pretsl XXVII LTD		B		CC		4,835		655		(4,180	)		0	33/49	28.1	%	23.7	%	35.6	%
Trapeza Ser 13A		A2	A	CCC-		9,385		2,035		(7,350	)		0	36/56	29.2	%	4.2	%	39.8	%
						27,346		7,530		(19,816	)		0
Single Issuer trust preferred securities:
First Empire Cap (M&T)				BBB-		955		1,004		49			0
First Empire Cap (M&T)				BBB-		2,904		3,013		109			0
Fleet Cap Tr V (BOA)				BB+		3,357		2,295		(1,062	)		0
JP Morgan Chase Cap XIII				BBB+		4,710		3,878		(832	)		0
						11,926		10,190		(1,736	)		0
Total					$	39,272	$	17,720	$	(21,552	)	$	0

(1) Lowest rating for the security provided by any nationally recognized credit rating agency.

Securities With Other-Than-Temporary Impairment

(1) Lowest rating for the security provided by any nationally recognized credit rating agency.

						Amount of other-than-temporary
						impairment recognized in earnings
		Lowest				Three months		Nine months
		Credit		Amortized		ended		ended
	Vintage	Rating (1)		Cost		September 30, 2011		September 30, 2011
Non-agency mortgage-backed securities:
FHASI Ser 4	2007	CC	$	20,003	$	0	$	340
HALO Ser 1R	2006	B		15,640		0		16
RFMSI Ser S10	2006	CC		4,217		0		143
			$	39,860		0		499
Total other-than-temporary-
impairment recognized in earnings					$	0	$	499

Securities With Other-Than-Temporary Impairment, Cumulative Other-Than-Temporary Impairment

(1) Lowest rating for the security provided by any nationally recognized credit rating agency. (2) Sold during fourth quarter 2010.

(3) Sold during first quarter 2011.

						Amount of other-than-temporary
						impairment recognized in earnings
		Lowest				Nine months		Twelve months ended
		Credit		Amortized September 30,				December 31,			Life	-to
	Vintage Rating (1)			Cost		2011		2010		2009		date
Non-agency mortgage-backed securities:
BAFC Ser 4	2007	CCC	$	14,026	$	0	$	79	$	63	$	142
CWALT Ser 73CB	2005	CC		3,842		0		207		83		290
CWALT Ser 73CB	2005	CC		4,791		0		427		182		609
CWHL 2006-10 (3)	2006					0		309		762		1,071
CWHL 2005-20	2005	CC		5,332		0		39		72		111
FHASI Ser 4	2007	CC		20,003		340		629		223		1,192
HALO Ser 1R	2006	B		15,640		16		0		0		16
RFMSI Ser S9 (2)	2006					0		923		1,880		2,803
RFMSI Ser S10	2006	CC		4,217		143		76		249		468
RALI QS2 (2)	2006					0		278		739		1,017
RFMSI S1	2006	CCC		2,802		0		30		176		206
				70,653		499		2,997		4,429		7,925
Pooled trust preferred securities:
TROPC	2003	C		977		0		444		3,517		3,961
MM Community Funding IX	2003	D		2,076		0		165		2,612		2,777
Reg Div Funding	2004	D		4,194		0		321		5,199		5,520
Pretsl XII	2003	C		2,886		0		0		1,897		1,897
Pretsl XV	2004	C		1,695		0		0		3,374		3,374
Reg Div Funding	2005	C		311		0		0		3,767		3,767
				12,139		0		930		20,366		21,296
Total other-than-temporary-
impairment recognized in earnings					$	499	$	3,927	$	24,795	$	29,221

(1) Lowest rating for the security provided by any nationally recognized credit rating agency.

						Amount of other-than-temporary
						impairment recognized in earnings
		Lowest				Three months		Nine months
		Credit		Amortized		ended		ended
	Vintage	Rating (1)		Cost		September 30, 2010		September 30, 2010
Non-agency mortgage-backed securities:
BAFC Ser 4	2007	CCC	$	14,026	$	0	$	79
CWALT Ser 73CB	2005	CCC		6,606		0		207
CWALT Ser 73CB	2005	CCC		6,923		0		427
CWHL 2006-10	2006	C		10,030		0		309
CWHL 2005-20	2005	B-		9,734		0		39
FHASI Ser 4	2007	CCC		21,617		37		629
RFMSI Ser S9	2006	CC		32,070		0		923
RFMSI Ser S10	2006	CC		4,360		2		76
RALI QS2	2006	C		6,565		0		278
RFMSI S1	2006	CCC		5,127		0		30
				117,058		39		2,997
Pooled trust preferred securities:
TROPC	2003	C		1,283		0		146
MM Community Funding IX	2003	C		2,107		0		165
				3,390		0		311
Total other-than-temporary-
impairment recognized in earnings					$	39	$	3,308