Available-For-Sale Securities (Tables)

6 Months Ended

Jun. 30, 2015

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:



	June 30, 2015
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury	$	288,196	$	138	$	(7,173	)	$	281,161
U.S. Government agencies	651,737		2,074		(25,151		)	628,660
Municipal	269,562		4,222		(3,994		)	269,790
Corporate notes:
Financial issuers	124,924		1,773		(1,289		)	125,408
Other	2,726		9		(2		)	2,733
Mortgage-backed: ⁽¹⁾
Mortgage-backed securities	777,087		4,053		(23,499		)	757,641
Collateralized mortgage obligations	42,550		342		(432		)	42,460
Equity securities	48,740		5,876		(408		)	54,208
Total available-for-sale securities	$	2,205,522	$	18,487	$	(61,948	)	$	2,162,061



	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury	$	388,713	$	84	$	(6,992	)	$	381,805
U.S. Government agencies	686,106		4,113		(21,903		)	668,316
Municipal	234,951		5,318		(1,740		)	238,529
Corporate notes:
Financial issuers	129,309		2,006		(1,557		)	129,758
Other	3,766		55		—			3,821
Mortgage-backed: ⁽¹⁾
Mortgage-backed securities	271,129		5,448		(4,928		)	271,649
Collateralized mortgage obligations	47,347		249		(535		)	47,061
Equity securities	46,592		4,872		(325		)	51,139
Total available-for-sale securities	$	1,807,913	$	22,145	$	(37,980	)	$	1,792,078



	June 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury	$	399,031	$	354	$	(10,970	)	$	388,415
U.S. Government agencies	798,889		4,458		(37,347		)	766,000
Municipal	173,664		4,385		(1,942		)	176,107
Corporate notes:
Financial issuers	129,211		2,402		(1,387		)	130,226
Other	4,980		97		—			5,077
Mortgage-backed: ⁽¹⁾
Mortgage-backed securities	255,082		5,190		(9,097		)	251,175
Collateralized mortgage obligations	52,672		389		(673		)	52,388
Equity securities	50,594		4,634		(376		)	54,852
Total available-for-sale securities	$	1,864,123	$	21,909	$	(61,792	)	$	1,824,240


(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 June 30, 2015:



	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	$	207,997	$	(7,173	)	$	—	$	—		$	207,997	$	(7,173	)
U.S. Government agencies	231,514		(8,817		)	248,487		(16,334		)	480,001		(25,151		)
Municipal	96,407		(2,545		)	37,578		(1,449		)	133,985		(3,994		)
Corporate notes:
Financial issuers	13,117		(94		)	44,762		(1,195		)	57,879		(1,289		)
Other	998		(2		)	—		—			998		(2		)
Mortgage-backed:
Mortgage-backed securities	551,405		(16,869		)	120,626		(6,630		)	672,031		(23,499		)
Collateralized mortgage obligations	5,158		(31		)	9,877		(401		)	15,035		(432		)
Equity securities	2,909		(37		)	8,505		(371		)	11,414		(408		)
Total	$	1,109,505	$	(35,568	)	$	469,835	$	(26,380	)	$	1,579,340	$	(61,948	)

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 June 30,						Six months ended June 30,
(Dollars in thousands)	2015			2014			2015			2014
Realized gains	$	14		$	99		$	567		$	154
Realized losses	(38		)	(435		)	(67		)	(523		)
Net realized (losses) gains	$	(24	)	$	(336	)	$	500		$	(369	)
Other than temporary impairment charges	—			—			—			—
(Losses) gains on available-for-sale securities, net	$	(24	)	$	(336	)	$	500		$	(369	)
Proceeds from sales of available-for-sale securities	$	498,501		$	169,753		$	1,134,033		$	196,042

Investments Classified by Contractual Maturity Date

The amortized cost and fair value of securities as of June 30, 2015, December 31, 2014 and June 30, 2014, 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:



	June 30, 2015				December 31, 2014				June 30, 2014
(Dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	141,792	$	141,897	$	285,596	$	285,889	$	173,991	$	174,220
Due in one to five years	261,285		261,146		172,647		172,885		361,300		362,423
Due in five to ten years	291,451		285,192		331,389		325,644		319,641		310,196
Due after ten years	642,617		619,517		653,213		637,811		650,843		618,986
Mortgage-backed	819,637		800,101		318,476		318,710		307,754		303,563
Equity securities	48,740		54,208		46,592		51,139		50,594		54,852
Total available-for-sale securities	$	2,205,522	$	2,162,061	$	1,807,913	$	1,792,078	$	1,864,123	$	1,824,240