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Available-For-Sale And Held-To-Maturity Securities (Tables)
 6 Months Ended
Jun. 30, 2014
Available-For-Sale And Held-To-Maturity Securities [Abstract]  
Schedule Of Amortized Cost And Fair Values Of The Available For Sale Securities And Held To Maturity Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2014

 

Amortized cost

 

Gross unrealized gains (1)

 

Gross unrealized losses (1)

 

Estimated fair value

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency securities

$
1,720 

 

$
2 

 

$
(4)

 

$
1,718 

State and municipal securities

 
76,802 

 

 
86 

 

 
(3,716)

 

 
73,172 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

Agency

 
217,031 

 

 
3,187 

 

 
(1,342)

 

 
218,876 

Commercial

 
153,481 

 

 
735 

 

 

 -

 

 
154,216 

Non-agency

 
29,411 

 

 
1,259 

 

 
(283)

 

 
30,387 

Corporate fixed income securities

 
417,597 

 

 
4,661 

 

 
(972)

 

 
421,286 

Asset-backed securities

 
749,559 

 

 
2,633 

 

 
(5,068)

 

 
747,124 

 

$
1,645,601 

 

$
12,563 

 

$
(11,385)

 

$
1,646,779 

Held-to-maturity securities (2)

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

Agency

$
929,802 

 

$
23,909 

 

$
(135)

 

$
953,576 

Commercial

 
59,433 

 

 
2,172 

 

 

 -

 

 
61,605 

Non-agency

 
1,287 

 

 
8 

 

 
(13)

 

 
1,282 

Asset-backed securities

 
228,960 

 

 
6,629 

 

 
(2,432)

 

 
233,157 

Corporate fixed income securities

 
55,283 

 

 
7 

 

 
(1,605)

 

 
53,685 

 

$
1,274,765 

 

$
32,725 

 

$
(4,185)

 

$
1,303,305 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

Amortized cost

 

Gross unrealized gains (1)

 

Gross unrealized losses (1)

 

Estimated fair value

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency securities

$
1,074 

 

$

 -

 

$
(2)

 

$
1,072 

State and municipal securities

 
96,475 

 

 
739 

 

 
(6,537)

 

 
90,677 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 -

Agency

 
184,533 

 

 
2,859 

 

 
(3,405)

 

 
183,987 

Commercial

 
209,949 

 

 
3,084 

 

 
(1,787)

 

 
211,246 

Non-agency

 
4,547 

 

 
72 

 

 

 -

 

 
4,619 

Corporate fixed income securities

 
496,385 

 

 
4,769 

 

 
(2,838)

 

 
498,316 

Asset-backed securities

 
769,553 

 

 
2,499 

 

 
(5,716)

 

 
766,336 

 

$
1,762,516 

 

$
14,022 

 

$
(20,285)

 

$
1,756,253 

Held-to-maturity securities (2)

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

Agency

$
968,759 

 

$
1,156 

 

$
(7,915)

 

$
962,000 

Commercial

 
59,404 

 

 

 -

 

 
(186)

 

 
59,218 

Asset-backed securities

 
228,623 

 

 
6,157 

 

 
(2,774)

 

 
232,006 

Corporate fixed income securities

 
55,329 

 

 
11 

 

 
(2,605)

 

 
52,735 

Municipal auction rate securities

 

 -

 

 

 -

 

 

 -

 

 

 -

 

$
1,312,115 

 

$
7,324 

 

$
(13,480)

 

$
1,305,959 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Unrealized gains/(losses) related to available-for-sale securities are reported in accumulated other comprehensive income/(loss).

(2)

Held-to-maturity securities are carried in the consolidated statements of financial condition at amortized cost, and the changes in the value of these securities, other than impairment charges, are not reported on the consolidated financial statements.

 

Schedule Of Amortized Cost And Fair Values Of Debt Securities By Contractual Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2014

 

Available-for-sale securities

 

Held-to-maturity securities

 

Amortized cost

 

Estimated fair value

 

Amortized cost

 

Estimated fair value

Debt securities

 

 

 

 

 

 

 

 

 

 

 

Within one year

$
120,855 

 

$
121,946 

 

$

 -

 

$

 -

After one year through three years

 
117,783 

 

 
119,206 

 

 
15,038 

 

 
15,041 

After three years through five years

 
139,844 

 

 
141,325 

 

 
40,245 

 

 
38,643 

After five years through ten years

 
407,502 

 

 
408,058 

 

 

 -

 

 

 -

After ten years

 
459,694 

 

 
452,765 

 

 
228,960 

 

 
233,158 

Mortgage-backed securities

 

 

 

 

 

 

 

 

 

 

 

Within one year

 
8,951 

 

 
9,016 

 

 

 -

 

 

 -

After three years through five years

 
196 

 

 
200 

 

 

 -

 

 

 -

After five years through ten years

 
71,608 

 

 
73,256 

 

 
59,433 

 

 
61,605 

After ten years

 
319,168 

 

 
321,007 

 

 
931,089 

 

 
954,858 

 

$
1,645,601 

 

$
1,646,779 

 

$
1,274,765 

 

$
1,303,305 

 

Debt Securities By Contractual Maturities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Within 1 year

 

1 - 5 years

 

5 - 10 years

 

After 10 years

 

Total

 

Available-for-sale: 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency securities

$
327 

 

$
1,391 

 

$

 -

 

$

 -

 

$
1,718 

 

State and municipal securities

 

 -

 

 

 -

 

 

 -

 

 
73,172 

 

 
73,172 

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency

 

 -

 

 

 -

 

 
32,172 

 

 
186,704 

 

 
218,876 

 

Commercial

 
9,016 

 

 

 -

 

 
41,084 

 

 
104,357 

 

 
154,457 

 

Non-agency

 

 -

 

 
200 

 

 

 -

 

 
29,946 

 

 
30,146 

 

Corporate fixed income securities

 
121,619 

 

 
251,712 

 

 
47,955 

 

 

 -

 

 
421,286 

 

Asset-backed securities

 

 -

 

 
7,428 

 

 
360,103 

 

 
379,593 

 

 
747,124 

 

 

$
130,962 

 

$
260,731 

 

$
481,314 

 

$
773,772 

 

$
1,646,779 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency

$

 -

 

$

 -

 

$

 -

 

$
929,802 

 

$
929,802 

 

Commercial

 

 -

 

 

 -

 

 
59,433 

 

 

 -

 

 
59,433 

 

Non-agency

 

 -

 

 

 -

 

 

 -

 

 
1,287 

 

 
1,287 

 

Asset-backed securities

 

 -

 

 

 -

 

 

 -

 

 
228,960 

 

 
228,960 

 

Corporate fixed income securities

 

 -

 

 
55,283 

 

 

 -

 

 

 -

 

 
55,283 

 

 

$

 -

 

$
55,283 

 

$
59,433 

 

$
1,160,049 

 

$
1,274,765 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Due to the immaterial amount of income recognized on tax-exempt securities, yields were not calculated on a tax equivalent basis. 

(2)

The weighted average yield is computed using the expected maturity of each security weighted based on the amortized cost of each security.
Schedule Of Gross Unrealized Losses And The Estimated Fair Value By Length Of Time

 

Less than 12 months

 

12 months or more

 

Total

 

Gross unrealized losses

 

Estimated fair value

 

Gross unrealized losses

 

Estimated fair value

 

Gross unrealized losses

 

Estimated fair value

Available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

$
(4)

 

$
869 

 

$

 -

 

$

 -

 

$
(4)

 

$
869 

State and municipal securities

 
(5)

 

 
423 

 

 
(3,711)

 

 
66,496 

 

 
(3,716)

 

 
66,919 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency

 
(192)

 

 
47,174 

 

 
(1,150)

 

 
48,836 

 

 
(1,342)

 

 
96,010 

Commercial

 
(122)

 

 
7,644 

 

 
(161)

 

 
41,084 

 

 
(283)

 

 
48,728 

Non-agency

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Corporate fixed income securities

 
(12)

 

 
4,978 

 

 
(960)

 

 
69,675 

 

 
(972)

 

 
74,653 

Asset-backed securities

 
(1,635)

 

 
193,999 

 

 
(3,433)

 

 
189,170 

 

 
(5,068)

 

 
383,169 

 

$
(1,970)

 

$
255,087 

 

$
(9,415)

 

$
415,261 

 

$
(11,385)

 

$
670,348 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency

$
(135)

 

$
25,921 

 

$

 -

 

$

 -

 

$
(135)

 

$
25,921 

Commercial

 
(13)

 

 
524 

 

 

 -

 

 

 -

 

 
(13)

 

 
524 

Asset-backed securities

 
(612)

 

 
8,116 

 

 
(1,820)

 

 
71,362 

 

 
(2,432)

 

 
79,478 

Corporate fixed income securities

 

 -

 

 

 -

 

 
(1,605)

 

 
48,681 

 

 
(1,605)

 

 
48,681 

 

$
(760)

 

$
34,561 

 

$
(3,425)

 

$
120,043 

 

$
(4,185)

 

$
154,604 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

Less than 12 months

 

12 months or more

 

Total

 

 

Gross unrealized losses

 

Estimated fair value

 

Gross unrealized losses

 

Estimated fair value

 

Gross unrealized losses

 

Estimated fair value

 

Available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

$
(2)

 

$
721 

 

$

 -

 

$

 -

 

$
(2)

 

$
721 

 

State and municipal securities

 
(2,966)

 

 
32,272 

 

 
(3,571)

 

 
41,182 

 

 
(6,537)

 

 
73,454 

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency

 
(3,260)

 

 
89,395 

 

 
(145)

 

 
1,335 

 

 
(3,405)

 

 
90,730 

 

Commercial

 
(1,787)

 

 
46,970 

 

 

 -

 

 

 -

 

 
(1,787)

 

 
46,970 

 

Corporate fixed income securities

 
(2,062)

 

 
80,700 

 

 
(776)

 

 
39,421 

 

 
(2,838)

 

 
120,121 

 

Asset-backed securities

 
(4,516)

 

 
436,770 

 

 
(1,200)

 

 
31,938 

 

 
(5,716)

 

 
468,708 

 

 

$
(14,593)

 

$
686,828 

 

$
(5,692)

 

$
113,876 

 

$
(20,285)

 

$
800,704 

 

Held-to-maturity securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency

$
(91)

 

$
8,127 

 

$
(7,824)

 

$
838,295 

 

$
(7,915)

 

$
846,422 

 

Commercial

 

 -

 

 

 -

 

 
(186)

 

 
59,219 

 

 
(186)

 

 
59,219 

 

Asset-backed securities

 

 -

 

 

 -

 

 
(2,774)

 

 
92,806 

 

 
(2,774)

 

 
92,806 

 

Corporate fixed income securities

 

 -

 

 

 -

 

 
(2,605)

 

 
47,727 

 

 
(2,605)

 

 
47,727 

 

 

$
(91)

 

$
8,127 

 

$
(13,389)

 

$
1,038,047 

 

$
(13,480)

 

$
1,046,174