Amortized
Cost

Gross
Unrealized
Gains

Gross
Unrealized
Losses

Estimated
Fair
Value

(In thousands)

As of December 31, 2011

Investment securities available-for-sale:

U.S. Treasury securities

19,892

833

—

20,725

U.S. Government agency and U.S. Government sponsored enterprise debt securities

575,148

1,709

(279

)

576,578

U.S. Government agency and U.S. Government sponsored enterprise mortgage-backed securities:

Commercial mortgage-backed securities

46,008

3,307

—

49,315

Residential mortgage-backed securities

963,688

30,854

(772

)

993,770

Municipal securities

76,255

3,696

)

79,946

Other residential mortgage-backed securities:

Investment grade

—

Non-investment grade

—

Corporate debt securities:

Investment grade

1,411,409

6,762

(95,610

)

1,322,561

Non-investment grade⁽¹⁾

30,693

—

(11,078

)

19,615

Other securities

9,875

195

)

10,068

Total investment securities available-for-sale

3,132,968

47,356

(107,746

)

3,072,578

Amortized Cost

Gross
Unrealized
Gains

Gross
Unrealized
Losses

Estimated
Fair
Value

(In thousands)

As of December 31, 2010

Investment securities available-for-sale:

U.S. Treasury securities

19,847

607

—

20,454

U.S. Government agency and U.S. Government sponsored enterprise debt securities

1,349,289

2,297

(18,121

)

1,333,465

U.S. Government agency and U.S. Government sponsored enterprise mortgage-backed securities:

Commercial mortgage-backed securities

18,620

512

—

19,132

Residential mortgage-backed
securities

295,140

11,574

—

306,714

Municipal securities

—

Other residential mortgage-backed securities:

Investment grade

—

Non-investment grade

14,996

—

(8,742

)

6,254

Corporate debt securities:

Investment grade

1,056,537

9,095

(8,765

)

1,056,867

Non-investment grade⁽¹⁾

50,015

(11,316

)

38,730

Other securities

95,966

267

(1,908

)

94,325

Total investment securities available-for-sale

2,900,410

24,383

(48,852

)

2,875,941

2011

2010

(In thousands)

Beginning balance

124,340

107,671

Addition of other-than-temporary impairment that was not previously recognized

—

6,340

Additional increases to the amount related to the credit loss for which an other-than-temporary impairment was previously recognized

633

10,329

Reduction for securities sold

(9,561

)

—

Ending balance

115,412

124,340

	Less Than 12 Months					12 Months or More					Total

	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(In thousands)
As of December 31, 2011
Investment securities available-for-sale:
U.S. Treasury securities	$	—	$	—		$	—	$	—		$	—	$	—
U.S. Government agency and U.S. Government sponsored enterprise debt securities		143,265		(279	)		—		—			143,265		(279	)
U.S. Government agency and U.S. Government sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities		—		—			—		—			—		—
Residential mortgage-backed securities		195,393		(772	)		—		—			195,393		(772	)
Municipal securities		1,158		(5	)		—		—			1,158		(5	)
Other residential mortgage-backed securities:
Investment grade		—		—			—		—			—		—
Non-investment grade		—		—			—		—			—		—
Corporate debt securities:
Investment grade		754,055		(61,935	)		350,181		(33,675	)		1,104,236		(95,610	)
Non-investment grade		9,973		(565	)		9,595		(10,513	)		19,568		(11,078	)
Other securities		4,503		(2	)							4,503		(2	)

Total investment securities available-for-sale	$	1,108,347	$	(63,558	)	$	359,776	$	(44,188	)	$	1,468,123	$	(107,746	)

	Less Than 12 Months					12 Months or More					Total

	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(In thousands)
As of December 31, 2010
Investment securities available-for-sale:
U.S. Treasury securities	$	—	$	—		$	—	$	—		$	—	$	—
U.S. Government agency and U.S. Government sponsored enterprise debt securities		935,654		(18,121	)		—		—			935,654		(18,121	)
U.S. Government agency and U.S. Government sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities		—		—			—		—			—		—
Residential mortgage-backed securities		—		—			—		—			—		—
Municipal securities		—		—			—		—			—		—
Other residential mortgage-backed securities:
Investment grade		—		—			—		—			—		—
Non-investment grade		—		—			6,254		(8,742	)		6,254		(8,742	)
Corporate debt securities:
Investment grade		656,434		(8,765	)		—		—			656,434		(8,765	)
Non-investment grade		24,105		(623	)		9,926		(10,693	)		34,031		(11,316	)
Other securities		76,692		(1,908	)		—		—			76,692		(1,908	)

Total investment securities available-for-sale	$	1,692,885	$	(29,417	)	$	16,180	$	(19,435	)	$	1,709,065	$	(48,852	)

Amortized
Cost

Estimated
Fair Value

(In thousands)

Due within one year

708,317

704,059

Due after one year through five years

372,837

357,446

Due after five years through ten years

1,001,425

933,429

Due after ten years

1,050,389

1,077,644

Total investment securities available-for-sale

3,132,968

3,072,578

- Definition

Tabular disclosure of available-for-sale securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 320

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS115-1/124-1

-Paragraph 17

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 320

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 19, 20, 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-1

-Paragraph 21

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27198-111563

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563

+ Details

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

+ References+ Details