Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Analysis of Amortized Cost and Estimated Fair Value of Securities Available for Sale

Below is an analysis of the amortized cost and estimated fair values of securities available for sale at:

	March 31, 2013									December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential	$	26,533	$	3,929	$	—		$	30,462	$	27,883	$	3,781	$	—		$	31,664
Obligations of U.S. Government- Sponsored Enterprises:
Mortgage-Backed Securities – Residential	969,600		23,213		(2,153		)	990,660		839,102		25,691		(392		)	864,401
Mortgage-Backed Securities – Commercial	139		1		—			140		148		1		—			149
Other Government-Sponsored Enterprises	241,972		579		(113		)	242,438		241,970		766		(72		)	242,664
Obligations of States and Political Subdivisions	82		3		—			85		82		4		—			86
Corporate Securities	6,700		303		(30		)	6,973		6,703		288		—			6,991
Pooled Trust Preferred Collateralized Debt Obligations	51,077		1		(26,566		)	24,512		51,866		3		(28,496		)	23,373
Total Debt Securities	1,296,103		28,029		(28,862		)	1,295,270		1,167,754		30,534		(28,960		)	1,169,328
Equities	1,820		113		—			1,933		1,859		116		—			1,975
Total Securities Available for Sale	$	1,297,923	$	28,142	$	(28,862	)	$	1,297,203	$	1,169,613	$	30,650	$	(28,960	)	$	1,171,303

Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale

The amortized cost and estimated fair value of debt securities available for sale at March 31, 2013, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or repay obligations with or without call or prepayment penalties.

	Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due within 1 year	$	25,081	$	25,332
Due after 1 but within 5 years	216,972		217,191
Due after 5 but within 10 years	—		—
Due after 10 years	57,778		31,485
	299,831		274,008
Mortgage-Backed Securities (a)	996,272		1,021,262
Total Debt Securities	$	1,296,103	$	1,295,270

(a) Mortgage Backed Securities include an amortized cost of $26.5 million and a fair value of $30.5 million for Obligations of U.S. Government agencies issued by Ginnie Mae and Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac which had an amortized cost of $969.7 million and a fair value of $990.8 million

Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale

Proceeds from sales, gross gains (losses) realized on sales, maturities and other-than-temporary impairment charges related to securities available for sale were as follows for the three-months endedMarch 31,:

	2013		2012
	(dollars in thousands)
Proceeds from sales	$	42	$	—
Gross gains (losses) realized:
Sales Transactions:
Gross gains	$	4	$	—
Gross losses	—		—
	4		—
Maturities and impairment
Gross gains	—		—
Gross losses	—		—
Other-than-temporary impairment	—		—
	—		—
Net gains and impairment	$	4	$	—