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Securities (Tables)
 12 Months Ended
Dec. 31, 2013
Available-for-sale Securities [Abstract]  
Securities Available for Sale
The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of securities available for sale:
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
December 31, 2013
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
961,442

 
$
10,640

 
$
(23,674
)
 
$
948,408

State and municipal securities
 
357,013

 
11,450

 
(3,993
)
 
364,470

U.S. government agency and government-sponsored enterprise securities
 
335,671

 
434

 
(10,066
)
 
326,039

U.S. government securities
 
21,081

 
—

 
(967
)
 
20,114

Other securities
 
5,284

 
27

 
(231
)
 
5,080

Total
 
$
1,680,491

 
$
22,551

 
$
(38,931
)
 
$
1,664,111

December 31, 2012
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
561,076

 
$
16,719

 
$
(5,426
)
 
$
572,369

State and municipal securities
 
265,070

 
20,893

 
(388
)
 
285,575

U.S. government agency and government-sponsored enterprise securities
 
120,085

 
851

 
(435
)
 
120,501

U.S. government securities
 
19,804

 
39

 
(15
)
 
19,828

Other securities
 
3,324

 
104

 
(36
)
 
3,392

Total
 
$
969,359

 
$
38,606

 
$
(6,300
)
 
$
1,001,665
Schedule of Contractual Maturities of Investment Securities Available for Sale
The following table summarizes the amortized cost and fair value of securities available for sale by contractual maturity groups:
 
 
December 31, 2013
 
 
Amortized Cost
 
Fair Value
 
 
(in thousands)
Due within one year
 
$
14,079

 
$
14,239

Due after one year through five years
 
303,875

 
302,641

Due after five years through ten years
 
487,643

 
480,244

Due after ten years
 
869,610

 
861,907

Other securities with no stated maturity
 
$
5,284

 
$
5,080

Total investment securities available-for-sale
 
$
1,680,491

 
$
1,664,111
Carrying Value of Securities Pledged As Collateral
The following table summarizes, as of December 31, 2013 and 2012, the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law: 
 
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Washington and Oregon State to secure public deposits
 
$
277,012

 
$
281,006

Federal Reserve Bank to secure borrowings
 
42,694

 
47,634

Other securities pledged
 
43,081

 
46,090

Total securities pledged as collateral
 
$
362,787

 
$
374,730
Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses
The following tables show the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013 and 2012:
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
December 31, 2013
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
492,921

 
$
(10,991
)
 
$
121,303

 
$
(12,684
)
 
$
614,224

 
(23,675
)
State and municipal securities
 
112,400

 
(3,069
)
 
13,815

 
(923
)
 
126,215

 
(3,992
)
U.S. government agency and government-sponsored enterprise securities
 
260,001

 
(8,063
)
 
28,447

 
(2,003
)
 
288,448

 
(10,066
)
U.S. government securities
 
20,114

 
(967
)
 
—

 
—

 
20,114

 
(967
)
Other securities
 
2,257

 
(58
)
 
2,783

 
(173
)
 
5,040

 
(231
)
Total
 
$
887,693

 
$
(23,148
)
 
$
166,348

 
$
(15,783
)
 
$
1,054,041

 
$
(38,931
)
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
167,739

 
$
(5,090
)
 
$
12,204

 
$
(336
)
 
$
179,943

 
$
(5,426
)
State and municipal securities
 
20,413

 
(383
)
 
210

 
(5
)
 
20,623

 
(388
)
U.S. government agency and government-sponsored enterprise securities
 
56,600

 
(435
)
 
—

 
—

 
56,600

 
(435
)
U.S. government securities
 
9,914

 
(15
)
 
—

 
—

 
9,914

 
(15
)
Other securities
 
—

 
—

 
964

 
(36
)
 
964

 
(36
)
Total
 
$
254,666

 
$
(5,923
)
 
$
13,378

 
$
(377
)
 
$
268,044

 
$
(6,300
)