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Investment Securities
 6 Months Ended
Jun. 30, 2013
Investments, Debt and Equity Securities [Abstract]  
Investment Securities
Investment Securities
Below is an analysis of the amortized cost and estimated fair values of securities available for sale at:
 
June 30, 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
$
25,119

 
$
2,944

 
$
(27
)
 
$
28,036

 
$
27,883

 
$
3,781

 
$
—

 
$
31,664

Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 

 
 
 
 
 
 
 

Mortgage-Backed Securities – Residential
981,279

 
14,549

 
(17,643
)
 
978,185

 
839,102

 
25,691

 
(392
)
 
864,401

Mortgage-Backed Securities – Commercial
125

 
1

 
—

 
126

 
148

 
1

 
—

 
149

Other Government-Sponsored Enterprises
267,966

 
311

 
(2,981
)
 
265,296

 
241,970

 
766

 
(72
)
 
242,664

Obligations of States and Political Subdivisions
81

 
2

 
—

 
83

 
82

 
4

 
—

 
86

Corporate Securities
6,698

 
312

 
(26
)
 
6,984

 
6,703

 
288

 
—

 
6,991

Pooled Trust Preferred Collateralized Debt Obligations
49,531

 
422

 
(24,084
)
 
25,869

 
51,866

 
3

 
(28,496
)
 
23,373

Total Debt Securities
1,330,799

 
18,541

 
(44,761
)
 
1,304,579

 
1,167,754

 
30,534

 
(28,960
)
 
1,169,328

Equities
1,820

 
288

 
—

 
2,108

 
1,859

 
116

 
—

 
1,975

Total Securities Available for Sale
$
1,332,619

 
$
18,829

 
$
(44,761
)
 
$
1,306,687

 
$
1,169,613

 
$
30,650

 
$
(28,960
)
 
$
1,171,303


The amortized cost and estimated fair value of debt securities available for sale at June 30, 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
$
28,081

 
$
28,265

Due after 1 but within 5 years
239,966

 
237,114

Due after 5 but within 10 years
—

 
—

Due after 10 years
56,229

 
32,853

 
324,276

 
298,232

Mortgage-Backed Securities (a)
1,006,523

 
1,006,347

Total Debt Securities
$
1,330,799

 
$
1,304,579

 
(a)
Mortgage Backed Securities include an amortized cost of $25.1 million and a fair value of $28.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $981.4 million and a fair value of $978.3 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.
 
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 six-months ended June 30:
 
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
4

 
—

Gross losses
—

 
—

Other-than-temporary impairment
—

 
—

 
4

 
—

Net gains and impairment
$
8

 
$
—


Securities available for sale with an estimated fair value of $645.6 million and $631.0 million were pledged as of June 30, 2013 and December 31, 2012, respectively, to secure public deposits and for other purposes required or permitted by law.