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Available-For-Sale Securities (Tables)
 9 Months Ended
Sep. 30, 2013
Available-for-sale Securities [Abstract]  
Schedule Of The Available-For-Sale Securities Reconciliation
The following tables are a summary of the available-for-sale securities portfolio as of the dates shown:
 
 
September 30, 2013
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury
$
225,190

 
$
150

 
$
(14,438
)
 
$
210,902

U.S. Government agencies
954,050

 
2,213

 
(43,574
)
 
912,689

Municipal
152,010

 
1,983

 
(3,346
)
 
150,647

Corporate notes and other:
 
 
 
 
 
 
 
Financial issuers
132,320

 
2,252

 
(2,513
)
 
132,059

Other
7,011

 
126

 
(15
)
 
7,122

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
268,166

 
4,157

 
(12,861
)
 
259,462

Collateralized mortgage obligations
60,001

 
458

 
(728
)
 
59,731

Other equity securities
53,837

 
1,097

 
(5,663
)
 
49,271

Total available-for-sale securities
$
1,852,585

 
$
12,436

 
$
(83,138
)
 
$
1,781,883

 
 
December 31, 2012
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
(Dollars in thousands)
 
 
 
U.S. Treasury
$
220,226

 
$
198

 
$
(937
)
 
$
219,487

U.S. Government agencies
986,186

 
4,839

 
(986
)
 
990,039

Municipal
107,868

 
2,899

 
(296
)
 
110,471

Corporate notes and other:
 
 
 
 
 
 
 
Financial issuers
142,205

 
2,452

 
(3,982
)
 
140,675

Other
13,911

 
220

 
—

 
14,131

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
188,485

 
8,805

 
(30
)
 
197,260

Collateralized mortgage obligations
73,386

 
928

 
—

 
74,314

Other equity securities
52,846

 
215

 
(3,362
)
 
49,699

Total available-for-sale securities
$
1,785,113

 
$
20,556

 
$
(9,593
)
 
$
1,796,076

 
 
September 30, 2012
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
(Dollars in thousands)
 
 
 
U.S. Treasury
$
25,045

 
$
211

 
$
—

 
$
25,256

U.S. Government agencies
626,725

 
3,833

 
(2,374
)
 
628,184

Municipal
96,696

 
2,711

 
(23
)
 
99,384

Corporate notes and other:
 
 
 
 
 
 
 
Financial issuers
142,158

 
2,550

 
(5,170
)
 
139,538

Other
17,200

 
251

 
—

 
17,451

Mortgage-backed: (1)
 
 
 
 
 
 
 
Mortgage-backed securities
225,393

 
13,733

 
—

 
239,126

Collateralized mortgage obligations
66,422

 
690

 
—

 
67,112

Other equity securities
43,737

 
216

 
(3,236
)
 
40,717

Total available-for-sale securities
$
1,243,376

 
$
24,195

 
$
(10,803
)
 
$
1,256,768


(1)
Consisting entirely of residential mortgage-backed securities, none of which are subprime.
Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value
The following table presents the portion of the Company’s available-for-sale securities portfolio which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at September 30, 2013:
 
 
Continuous unrealized
losses existing for
less than 12 months
 
Continuous unrealized
losses existing for
greater than 12 months
 
Total
(Dollars in thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Treasury
$
185,734

 
$
(14,438
)
 
$
—

 
$
—

 
$
185,734

 
$
(14,438
)
U.S. Government agencies
413,113

 
(37,142
)
 
60,240

 
(6,432
)
 
473,353

 
(43,574
)
Municipal
78,209

 
(3,342
)
 
696

 
(4
)
 
78,905

 
(3,346
)
Corporate notes and other:
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
16,530

 
(232
)
 
63,661

 
(2,281
)
 
80,191

 
(2,513
)
Other
985

 
(15
)
 
—

 
—

 
985

 
(15
)
Mortgage-backed:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
175,261

 
(12,861
)
 
—

 
—

 
175,261

 
(12,861
)
Collateralized mortgage obligations
33,511

 
(728
)
 
—

 
—

 
33,511

 
(728
)
Other equity securities
14,507

 
(614
)
 
20,350

 
(5,049
)
 
34,857

 
(5,663
)
Total
$
917,850

 
$
(69,372
)
 
$
144,947

 
$
(13,766
)
 
$
1,062,797

 
$
(83,138
)
Schedule Of Realized Gain (Loss)
The following table provides information as to the amount of gross gains and gross losses realized and proceeds received through the sales of available-for-sale investment securities:
 
 
Three months ended September 30,
 
Nine months ended September 30,
(Dollars in thousands)
2013
 
2012
 
2013
 
2012
Realized gains
$
118

 
$
413

 
$
434

 
$
2,350

Realized losses
(43
)
 
(4
)
 
(106
)
 
(16
)
Net realized gains
$
75

 
$
409

 
$
328

 
$
2,334

Other than temporary impairment charges
—

 
—

 
—

 
—

Gains on available-for-sale securities, net
$
75

 
$
409

 
$
328

 
$
2,334

Proceeds from sales of available-for-sale securities
$
45,078

 
$
694,608

 
$
129,537

 
$
2,059,154
Investments Classified by Contractual Maturity Date
The amortized cost and fair value of securities as of September 30, 2013, December 31, 2012 and September 30, 2012, by contractual maturity, are shown in the following table. Contractual maturities may differ from actual maturities as borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Mortgage-backed securities are not included in the maturity categories in the following maturity summary as actual maturities may differ from contractual maturities because the underlying mortgages may be called or prepaid without penalties:
 
 
September 30, 2013
 
December 31, 2012
 
September 30, 2012
(Dollars in thousands)
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
Due in one year or less
$
285,746

 
$
286,066

 
$
188,594

 
$
189,015

 
$
83,658

 
$
83,863

Due in one to five years
316,076

 
316,474

 
419,588

 
419,654

 
471,863

 
471,747

Due in five to ten years
344,742

 
328,895

 
361,037

 
362,135

 
135,580

 
137,116

Due after ten years
524,017

 
481,984

 
501,177

 
503,999

 
216,723

 
217,087

Mortgage-backed
328,167

 
319,193

 
261,871

 
271,574

 
291,815

 
306,238

Other equity securities
53,837

 
49,271

 
52,846

 
49,699

 
43,737

 
40,717

Total available-for-sale securities
$
1,852,585

 
$
1,781,883

 
$
1,785,113

 
$
1,796,076

 
$
1,243,376

 
$
1,256,768