Investment Securities (Tables)

9 Months Ended

Sep. 30, 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:



	September 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	$	23,787	$	2,680	$	(16	)	$	26,451	$	27,883	$	3,781	$	—		$	31,664
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	972,347		14,144		(22,258		)	964,233		839,102		25,691		(392		)	864,401
Mortgage-Backed Securities – Commercial	114		2		—			116		148		1		—			149
Other Government-Sponsored Enterprises	267,969		228		(1,894		)	266,303		241,970		766		(72		)	242,664
Obligations of States and Political Subdivisions	81		1		—			82		82		4		—			86
Corporate Securities	6,697		304		—			7,001		6,703		288		—			6,991
Pooled Trust Preferred Collateralized Debt Obligations	48,824		96		(23,463		)	25,457		51,866		3		(28,496		)	23,373
Total Debt Securities	1,319,819		17,455		(47,631		)	1,289,643		1,167,754		30,534		(28,960		)	1,169,328
Equities	1,420		—		—			1,420		1,859		116		—			1,975
Total Securities Available for Sale	$	1,321,239	$	17,455	$	(47,631	)	$	1,291,063	$	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 September 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	$	28,215
Due after 1 but within 5 years	239,969		238,170
Due after 5 but within 10 years	—		—
Due after 10 years	55,521		32,458
	323,571		298,843
Mortgage-Backed Securities (a)	996,248		990,800
Total Debt Securities	$	1,319,819	$	1,289,643


(a)	Mortgage Backed Securities include an amortized cost of $23.8 million and a fair value of $26.5 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $972.5 million and a fair value of $964.3 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 nine-months ended September 30:



	2013		2012
	(dollars in thousands)
Proceeds from sales	$	671	$	—
Gross gains (losses) realized:
Sales Transactions:
Gross gains	$	233	$	—
Gross losses	—		—
	233		—
Maturities and impairment
Gross gains	4		163
Gross losses	—		—
Other-than-temporary impairment	—		—
	4		163
Net gains and impairment	$	237	$	163

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

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-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Name Accounting Standards Codification

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-Publisher FASB

-Name Accounting Standards Codification

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-Name Accounting Standards Codification

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Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 19, 20, 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS115-1/124-1

-Paragraph 17

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details