XML 53 R32.htm IDEA: XBRL DOCUMENT v2.4.1.9
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2014
INVESTMENT SECURITIES [Abstract]  
Amortized Cost and Estimated Fair Value of Investment Securities
The amortized cost and estimated fair value of investment securities as of December 31 are as follows:

  
2014
  
2013
 
    
Gross
  
Gross
  
Estimated
    
Gross
  
Gross
  
Estimated
 
  
Amortized
  
Unrealized
  
Unrealized
  
Fair
  
Amortized
  
Unrealized
  
Unrealized
  
Fair
 
(000's omitted)
 
Cost
  
Gains
  
Losses
  
Value
  
Cost
  
Gains
  
Losses
  
Value
 
Available-for-Sale Portfolio:
                
U.S. Treasury and agency securities
 
$
1,479,134
  
$
39,509
  
$
910
  
$
1,517,733
  
$
1,252,332
  
$
1,119
  
$
41,304
  
$
1,212,147
 
Obligations of state and political subdivisions
  
645,398
   
26,749
   
244
   
671,903
   
665,441
   
15,919
   
12,378
   
668,982
 
Government agency mortgage-backed securities
  
228,971
   
9,782
   
1,025
   
237,728
   
250,431
   
8,660
   
4,113
   
254,978
 
Corporate debt securities
  
26,803
   
363
   
75
   
27,091
   
26,932
   
873
   
218
   
27,587
 
Government agency collateralized mortgage obligations
  
17,330
   
695
   
0
   
18,025
   
21,779
   
362
   
93
   
22,048
 
Marketable equity securities
  
250
   
195
   
0
   
445
   
250
   
171
   
0
   
421
 
Total available-for-sale portfolio
 
$
2,397,886
  
$
77,293
  
$
2,254
  
$
2,472,925
  
$
2,217,165
  
$
27,104
  
$
58,106
  
$
2,186,163
 
                                 
Other Securities:
                                
Federal Home Loan Bank common stock
 
$
19,553
          
$
19,553
  
$
12,053
          
$
12,053
 
Federal Reserve Bank common stock
  
16,050
           
16,050
   
16,050
           
16,050
 
Other equity securities
  
4,446
           
4,446
   
4,459
           
4,459
 
Total other securities
 
$
40,049
          
$
40,049
  
$
32,562
          
$
32,562
 
Summary of Investment Securities That Have Been in a Continuous Unrealized Loss Position for Less Than or Greater Than Twelve Months
A summary of investment securities that have been in a continuous unrealized loss position for less than or greater than twelve months is as follows:

As of December 31, 2014
      
Less than 12 Months
      
12 Months or Longer
      
Total
 
      
Gross
      
Gross
      
Gross
 
    
Fair
  
Unrealized
    
Fair
  
Unrealized
    
Fair
  
Unrealized
 
(000's omitted)
  
#
  
Value
  
Losses
   
#
  
Value
  
Losses
   
#
  
Value
  
Losses
 
                         
Available-for-Sale Portfolio:
                        
U.S. Treasury and agency obligations
  
0
  
$
0
  
$
0
   
4
  
$
102,363
  
$
910
   
4
  
$
102,363
  
$
910
 
Obligations of state and political subdivisions
  
23
   
13,413
   
34
   
46
   
26,490
   
210
   
69
   
39,903
   
244
 
Government agency mortgage-backed securities
  
3
   
5
   
0
   
19
   
34,770
   
1,025
   
22
   
34,775
   
1,025
 
Corporate debt securities
  
1
   
3,040
   
1
   
1
   
2,755
   
74
   
2
   
5,795
   
75
 
Government agency collateralized mortgage obligations
  
1
   
0
   
0
   
1
   
5
   
0
   
2
   
5
   
0
 
Total available-for-sale/investment portfolio
  
28
  
$
16,458
  
$
35
   
71
  
$
166,383
  
$
2,219
   
99
  
$
182,841
  
$
2,254
 
 
As of December 31, 2013
 
    
Less than 12 Months
          
12 Months or Longer
           
Total
 
      
Gross
      
Gross
      
Gross
 
    
Fair
  
Unrealized
    
Fair
  
Unrealized
    
Fair
  
Unrealized
 
(000's omitted)
  
#
  
Value
  
Losses
   
#
  
Value
  
Losses
   
#
  
Value
  
Losses
 
                         
Available-for-Sale Portfolio:
                        
U.S. Treasury and agency obligations
  
43
  
$
1,181,214
  
$
41,304
   
0
  
$
0
  
$
0
   
43
  
$
1,181,214
  
$
41,304
 
Obligations of state and political subdivisions
  
302
   
195,526
   
11,774
   
9
   
4,974
   
604
   
311
   
200,500
   
12,378
 
Government agency mortgage-backed securities
  
43
   
68,917
   
3,262
   
6
   
8,713
   
851
   
49
   
77,630
   
4,113
 
Corporate debt securities
  
1
   
3,026
   
31
   
1
   
2,703
   
187
   
2
   
5,729
   
218
 
Government agency collateralized mortgage obligations
  
1
   
2,601
   
93
   
1
   
7
   
0
   
2
   
2,608
   
93
 
Total available-for-sale/investment portfolio
  
390
  
$
1,451,284
  
$
56,464
   
17
  
$
16,397
  
$
1,642
   
407
  
$
1,467,681
  
$
58,106
 
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities at December 31, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Securities not due at a single maturity date are shown separately.

  
Available-for-Sale
 
  
Amortized
  
Fair
 
(000's omitted)
 
Cost
  
Value
 
Due in one year or less
 
$
59,386
  
$
60,045
 
Due after one through five years
  
146,559
   
150,631
 
Due after five years through ten years
  
1,698,124
   
1,746,688
 
Due after ten years
  
247,266
   
259,363
 
Subtotal
  
2,151,335
   
2,216,727
 
Government agency mortgage-backed securities
  
228,971
   
237,728
 
Government agency collateralized mortgage obligations
  
17,330
   
18,025
 
Total
 
$
2,397,636
  
$
2,472,480
 
Cash Flow Information on Investment Securities
Cash flow information on investment securities for the years ended December 31 is as follows:

(000's omitted)
 
2014
  
2013
  
2012
 
Gross gains on sales of investment securities
 
$
0
  
$
96,258
  
$
350
 
Gross losses on sales of investment securities
  
0
   
15,490
   
59
 
Proceeds from the maturities of mortgage-backed securities and CMO's
  
46,791
   
83,232
   
109,843
 
Purchases of mortgage-backed securities and CMO's
  
22,234
   
51,194
   
26,292