Investment Securities (Tables)

6 Months Ended

Jun. 30, 2012

Investment Securities [Abstract]

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

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

	June 30, 2012									December 31, 2011
	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	$	30,541	$	4,079	$	0		$	34,620	$	32,139	$	4,061	$	(6	)	$	36,194
Obligations of U.S. Government- Sponsored Enterprises:
Mortgage-Backed Securities – Residential		815,982		29,853		(96	)		845,739		771,196		29,835		0			801,031
Mortgage-Backed Securities – Commercial		175		2		0			177		193		1		(1	)		193
Other Government – Sponsored Enterprises		241,697		870		(1	)		242,566		267,807		973		(132	)		268,648
Obligations of States and Political Subdivisions		443		6		0			449		444		15		0			459
Corporate Securities		11,796		274		(71	)		11,999		11,811		162		(562	)		11,411
Pooled Trust Preferred Collateralized Debt Obligations		52,889		153		(31,250	)		21,792		54,762		3		(31,785	)		22,980
Total Debt Securities		1,153,523		35,237		(31,418	)		1,157,342		1,138,352		35,050		(32,486	)		1,140,916
Equities		1,860		0		0			1,860		1,860		0		0			1,860
Total Securities Available for Sale	$	1,155,383	$	35,237	$	(31,418	)	$	1,159,202	$	1,140,212	$	35,050	$	(32,486	)	$	1,142,776

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

	Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due within 1 year	$	7,363	$	7,373
Due after 1 but within 5 years		234,776		235,641
Due after 5 but within 10 years		0		0
Due after 10 years		64,686		33,792
		306,825		276,806
Mortgage-Backed Securities (a)		846,698		880,536
Total Debt Securities	$	1,153,523	$	1,157,342

(a) Mortgage Backed Securities include an amortized cost of $30.5 million and a fair value of $34.6 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 $816.2 million and a fair value of $845.9 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 sale, 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:

	2012		2011
	(dollars in thousands)
Proceeds from sale	$	0	$	69,926
Gross gains (losses) realized:
Sales Transactions:
Gross gains	$	0	$	2,368
Gross losses		0		(258	)
		0		2,110
Maturities and impairment
Gross gains		0		75
Gross losses		0		0
Other-than-temporary impairment		0		0
		0		75
Net gains and impairment	$	0	$	2,185