Securities Available-for-Sale (Tables)

6 Months Ended

Jun. 30, 2013

Text Block [Abstract]

Summary of Securities Available-for-Sale

	June 30, 2013								December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	( In thousands)
U.S. Treasury	$	1,996	$	—	$	4	$	1,992	$	2,000	$	4	$	—	$	2,004
U.S. Government Sponsored Enterprises		254,944		—		8,612		246,332		130,048		360		68		130,340
Small Business Administration		7,760		107		—		7,867		8,043		113		—		8,156
U.S. Government Agency and Sponsored Enterprises Mortgage Backed Securities		1,244,471		8,774		16,331		1,236,914		1,212,953		20,816		412		1,233,357
Privately Issued Residential Mortgage Backed Securities		2,651		9		7		2,653		2,938		31		22		2,947
Obligations Issued by States and Political Subdivisions		54,367		25		724		53,668		55,855		41		722		55,174
Other Debt Securities		2,300		—		106		2,194		2,300		—		47		2,253
Equity Securities		447		149		—		596		458		112		—		570
Total	$	1,568,936	$	9,064	$	25,784	$	1,552,216	$	1,414,595	$	21,477	$	1,271	$	1,434,801

Maturity Distribution of Securities Available-for-Sale

The following table shows the maturity distribution of the Company’s securities available-for-sale at June 30, 2013.

	Amortized Cost		Fair Value
	( In thousands)
Within one year	$	55,219	$	55,325
After one but within five years		753,219		755,445
After five but within ten years		747,073		728,512
More than 10 years		11,478		10,945
Non-maturing		1,947		1,989
Total	$	1,568,936	$	1,552,216

Continuous Unrealized Loss Position for 12 Months or Less and 12 Months or Longer

	June 30, 2013
	Less than 12 months				12 months or longer				Total
Temporarily Impaired Investments	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
U.S. Government Sponsored Enterprises	$	248,324	$	8,616	$	—	$	—	$	248,324	$	8,616
U.S. Government Agency and Sponsored Enterprises Mortgage Backed Securities		640,699		16,313		2,302		18		643,001		16,331
Privately Issued Residential Mortgage Backed Securities		1,735		7		—		—		1,735		7
Obligations Issued by States and Political Subdivisions		—		—		3,963		724		3,963		724
Other Debt Securities		—		—		1,394		106		1,394		106
Total temporarily impaired securities	$	890,758	$	24,936	$	7,659	$	848	$	898,417	$	25,784

The following table shows the temporarily impaired securities of the Company’s available-for-sale portfolio at December 31, 2012. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for 12 months or less and a continuous loss position for 12 months and longer. There are 20 and 7 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 458 holdings at December 31, 2012.

	December 31, 2012
	Less than 12 months				12 months or longer				Total
Temporarily Impaired Investments	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
U.S. Government Sponsored Enterprises	$	34,967	$	68	$	—	$	—	$	34,967	$	68
U.S. Government Agency and Sponsored Enterprises Mortgage Backed Securities		93,006		383		10,169		29		103,175		412
Privately Issued Residential Mortgage Backed Securities		—		—		1,863		22		1,863		22
Obligations Issued by States and Political Subdivisions		—		—		3,963		722		3,963		722
Other Debt Securities		—		—		1,453		47		1,453		47
Equity Securities		—		—		—		—		—		—
Total temporarily impaired securities	$	127,973	$	451	$	17,448	$	820	$	145,421	$	1,271