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Investment Securities Held-to-Maturity (Tables)
12 Months Ended
Dec. 31, 2014
Text Block [Abstract]  
Summary of Held-to-Maturity Securities
    December 31, 2014     December 31, 2013  
    Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Estimated
Fair Value
    Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Estimated
Fair Value
 
(dollars in thousands)                                                

U.S. Government Sponsored Enterprise

  $ 251,617      $ 2,707      $ 249      $ 254,075      $ 291,779      $ 185      $ 5,043      $ 286,921   

U.S. Government Sponsored Enterprise Mortgage-Backed Securities

    1,155,175        11,185        6,832        1,159,528        1,196,105        2,239        20,816        1,177,528   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 1,406,792      $ 13,892      $ 7,081      $ 1,413,603      $ 1,487,884      $ 2,424      $ 25,859      $ 1,464,449   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Company's Securities Held-to-Maturity

The following table shows the maturity distribution of the Company’s securities held-to-maturity at December 31, 2014.

 

     Amortized
Cost
     Fair Value  
(dollars in thousands)              

Within one year

   $ 3,837       $ 3,912   

After one but within five years

     1,095,478         1,098,957   

After five but within ten years

     305,690         308,892   

More than ten years

     1,787         1,842   
  

 

 

    

 

 

 

Total

   $ 1,406,792       $ 1,413,603   
  

 

 

    

 

 

 
Unrealized Market Loss of Securities

The following table shows the temporarily impaired securities of the Company’s held-to-maturity portfolio at December 31, 2014. 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 34 and 48 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 303 holdings at December 31, 2014.

 

     December 31, 2014  
     Less Than 12 Months      12 Months or Longer      Total  

Temporarily Impaired Investments

   Fair Value      Unrealized
Losses
     Fair Value      Unrealized
Losses
     Fair Value      Unrealized
Losses
 
(dollars in thousands)                                          

U.S. Government Sponsored Enterprises

   $ 22,414       $ 25       $ 14,776       $ 224       $ 37,190       $ 249   

U.S. Government Agency and Sponsored

                 

Enterprise Mortgage-Backed Securities

     194,119         1,678         308,526         5,154         502,645         6,832   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total temporarily impaired securities

   $ 216,533       $ 1,703       $ 323,302       $ 5,378       $ 539,835       $ 7,081   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

The following table shows the temporarily impaired securities of the Company’s held-to-maturity portfolio at December 31, 2013. 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 191 and 13 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 300 holdings at December 31, 2013.

 

     December 31, 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
 
(dollars in thousands)                                          

U.S. Government Sponsored Enterprises

   $ 232,535       $ 5,043       $       $       $ 232,535       $ 5,043   

U.S. Government Agency and Sponsored

                 

Enterprise Mortgage-Backed Securities

     931,180         18,654         80,362         2,162         1,011,542         20,816   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total temporarily impaired securities

   $ 1,163,715       $ 23,697       $ 80,362       $ 2,162       $ 1,244,077       $ 25,859