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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Investment securities available for sale

						Gross		Gross
				Amortized		unrealized		unrealized
March 31, 2013:				cost		gains		losses			Fair value
					($ in Thousands)
Investment securities available for sale:
	U.S. Treasury securities			$	1,003	$	1	$	0	$	1,004
	Obligations of state and political subdivisions
		(municipal securities)			734,096		43,240		(49)		777,287
	Residential mortgage-related securities				3,704,596		88,289		(6,125)		3,786,760
	Commercial mortgage-related securities (Government agency)				298,864		3,226		(1,451)		300,639
	Other securities (debt and equity)				83,209		1,466		(48)		84,627
			Total investment securities available for sale	$	4,821,768	$	136,222	$	(7,673)	$	4,950,317

						Gross		Gross
				Amortized		unrealized		unrealized
December 31, 2012:				cost		gains		losses			Fair value
					($ in Thousands)
Investment securities available for sale:
	U.S. Treasury securities			$	1,003	$	1	$	0	$	1,004
	Obligations of state and political subdivisions
		(municipal securities)			755,644		45,599		(55)		801,188
	Residential mortgage-related securities				3,714,289		93,742		(3,727)		3,804,304
	Commercial mortgage-related securities (Government agency)				226,420		2,809		(1,063)		228,166
	Other securities (debt and equity)				90,622		1,549		(75)		92,096
			Total investment securities available for sale	$	4,787,978	$	143,700	$	(4,920)	$	4,926,758

HeldToMaturitySecuritiesTextBlock

Investment securities held to maturity:
	Obligations of state and political subdivisions
		(municipal securities)		$	54,123	$	64	$	(699)	$	53,488
			Total investment securities held to maturity	$	54,123	$	64	$	(699)	$	53,488

Investment securities held to maturity:
	Obligations of state and political subdivisions
		(municipal securities)		$	39,877	$	98	$	(296)	$	39,679
			Total investment securities held to maturity	$	39,877	$	98	$	(296)	$	39,679

Amortized cost and fair values of investment securities available for sale by contractual maturity

		Available for Sale				Held to Maturity
($ in Thousands)		Amortized Cost			Fair Value	Amortized Cost			Fair Value
Due in one year or less		$	49,227	$	49,808	$	-	$	-
Due after one year through five years			213,425		222,878		-		-
Due after five years through ten years			506,121		538,190		15,970		15,902
Due after ten years			49,518		51,993		38,153		37,586
	Total debt securities		818,291		862,869		54,123		53,488
Residential mortgage-related securities			3,704,596		3,786,760		-		-
Commercial mortgage-related securities (Government agency)			298,864		300,639		-		-
Equity securities			17		49		-		-
	Total investment securities	$	4,821,768	$	4,950,317	$	54,123	$	53,488

Unrealized losses and fair value of available for sale securities, by investment category and time length

			Less than 12 months					12 months or more						Total
			Number of	Unrealized			Fair	Number of	Unrealized			Fair	Unrealized			Fair
March 31, 2013:			Securities		Losses		Value	Securities		Losses		Value		Losses		Value
					($ in Thousands)
Investment securities available for sale:
	Obligations of state and political
		subdivisions (municipal securities)	14		(36)		5,920	1		(13)		348		(49)		6,268
	Residential mortgage-related securities		36		(6,125)		1,063,268	0		―		―		(6,125)		1,063,268
	Commercial mortgage-related securities (Government agency)		4		(1,451)		150,221	0		―		―		(1,451)		150,221
	Other debt securities		1		(3)		297	1		(45)		142		(48)		439
		Total		$	(7,615)	$	1,219,706		$	(58)	$	490	$	(7,673)	$	1,220,196

Investment securities held to maturity:
	Obligations of state and political
		subdivisions (municipal securities)	90		(699)		43,377	0		―		―		(699)		43,377
		Total		$	(699)	$	43,377		$	―	$	―	$	(699)	$	43,377

					Less than 12 months					12 months or more				Total
			Number					Number
			of	Unrealized				of	Unrealized				Unrealized
December 31, 2012:			Securities	Losses		Fair Value		Securities	Losses		Fair Value		Losses		Fair Value
					($ in Thousands)
Investment securities available for sale:
	Obligations of state and political
		subdivisions (municipal securities)	15	$	(42)	$	5,065	1	$	(13)	$	348	$	(55)	$	5,413
	Residential mortgage-related securities		30		(3,727)		892,964	0		-		-		(3,727)		892,964
	Commercial mortgage-related securities (Government agency)		2		(1,063)		102,474	0		-		-		(1,063)		102,474
	Other debt securities		0		-		-	1		(75)		111		(75)		111
		Total		$	(4,832)	$	1,000,503		$	(88)	$	459	$	(4,920)	$	1,000,962

Investment securities held to maturity:
	Obligations of state and political
		subdivisions (municipal securities)	56	$	(296)	$	28,265	0	$	-	$	-	$	(296)	$	28,265
		Total		$	(296)	$	28,265		$	-	$	-	$	(296)	$	28,265

Credit loss portion of other than temporary impairment

		Non-agency
		Mortgage-Related		Trust Preferred
		Securities		Debt Securities			Total
		($ in Thousands)
Balance of credit-related other-than-temporary
	impairment at December 31, 2011	$	(17,558)	$	(10,835)	$	(28,393)
Reduction due to credit impaired securities sold			17,026		4,499		21,525
Balance of credit-related other-than-temporary							.
	impairment at December 31, 2012	$	(532)	$	(6,336)	$	(6,868)

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6435544&loc=d3e41834-113960

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5086-111524

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 137

-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 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 320

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 320

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

+ Details

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

+ References+ Details