Securities (Tables)

3 Months Ended

Mar. 31, 2013

Securities [Abstract]

Amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale

The amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale are as follows:

(In thousands)	Amortized cost		Unrealized gains		Unrealized losses		Estimated fair value
March 31, 2013
U.S. Treasury	$	68,557	$	668	$	-	$	69,225
Federal Agency		296,135		1,343		105		297,373
State & municipal		142,714		3,579		41		146,252
Mortgage-backed:
Government-sponsored enterprises		304,955		10,130		25		315,060
U.S. government securities		28,649		1,641		2		30,288
Collateralized mortgage obligations:
Government-sponsored enterprises		526,545		4,247		339		530,453
U.S. government securities		60,093		1,193		1		61,285
Other securities		13,425		2,492		62		15,855
Total securities available for sale	$	1,441,073	$	25,293	$	575	$	1,465,791
December 31, 2012
U.S. Treasury	$	63,668	$	757	$	-	$	64,425
Federal Agency		281,398		1,507		91		282,814
State & municipal		82,675		4,127		-		86,802
Mortgage-backed:
Government-sponsored enterprises		221,110		11,175		-		232,285
U.S. government securities		16,351		1,645		-		17,996
Collateralized mortgage obligations:
Government-sponsored enterprises		399,147		4,418		-		403,565
U.S. government securities		44,825		1,333		-		46,158
Other securities		11,210		2,832		88		13,954
Total securities available for sale	$	1,120,384	$	27,794	$	179	$	1,147,999

Amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity

The amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity are as follows:

	Amortized		Unrealized		Unrealized		Estimated
(In thousands)	cost		gains		losses		fair value
March 31, 2013
Mortgage-backed	$	1,127	$	183	$	-	$	1,310
State & municipal		61,347		704		-		62,051
Total securities held to maturity	$	62,474	$	887	$	-	$	63,361
December 31, 2012
Mortgage-backed	$	1,168	$	184	$	-	$	1,352
State & municipal		59,395		788		-		60,183
Total securities held to maturity	$	60,563	$	972	$	-	$	61,535

Investment securities with unrealized losses

The following table sets forth information with regard to investment securities with unrealized losses at March 31, 2013 and December 31, 2012:

	Less than 12 months							12 months or longer							Total
Security Type:	Fair Value		Unrealized losses			Number of Positions		Fair Value		Unrealized losses			Number of Positions		Fair Value		Unrealized losses			Number of Positions
March 31, 2013
U.S. Treasury	$	-	$	-			-	$	-	$	-				$	-	$	-			-
Federal agency		39,955		(105	)		6		-		-			-		39,955		(105	)		6
State & municipal		20,335		(41	)		68		-		-			-		20,335		(41	)		68
Mortgage-backed		15,977		(27	)		11		-		-			-		15,977		(27	)		11
Collateralized mortgage obligations		149,359		(340	)		18		-		-			-		149,359		(340	)		18
Other securities		-		-			-		186		(62	)		1		186		(62	)		1
Total securities with unrealized losses	$	225,626	$	(513	)		103	$	186	$	(62	)		1	$	225,812	$	(575	)		104
December 31, 2012
U.S. Treasury	$	-	$	-			-	$	-	$	-				$	-	$	-			-
Federal agency		39,906		(91	)		4		-		-			-		39,906		(91	)		4
Collateralized mortgage obligations		23		-			2		-		-			-		23		-			2
Other securities		468		(6	)		1		167		(82	)		1		635		(88	)		2
Total securities with unrealized losses	$	40,397	$	(97	)		7	$	167	$	(82	)		1	$	40,564	$	(179	)		8

Contractual maturities of debt securities

The following tables set forth information with regard to contractual maturities of debt securities at March 31, 2013:

(In thousands)	Amortized cost		Estimated fair value
Debt securities classified as available for sale
Within one year	$	45,889	$	46,070
From one to five years		184,744		187,836
From five to ten years		382,001		388,831
After ten years		815,014		827,199
	$	1,427,648	$	1,449,936
Debt securities classified as held to maturity
Within one year	$	24,547	$	24,598
From one to five years		28,732		29,380
From five to ten years		6,125		6,130
After ten years		3,070		3,253
	$	62,474	$	63,361