Investment Securities (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2014

Dec. 31, 2012



	March 31, 2014
			Recognized in OCI ¹						Not recognized in OCI
(In thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Carrying value		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Held-to-maturity
Municipal securities	$	567,935	$	—	$	—	$	567,935	$	14,429	$	1,707	$	580,657
Asset-backed securities:
Trust preferred securities – banks and insurance	79,351		—		41,107		38,244		17,603		1,225		54,622
Other debt securities	100		—		—		100		—		—		100
	647,386		—		41,107		606,279		32,032		2,932		635,379
Available-for-sale
U.S. Treasury securities	1,471		75		—		1,546						1,546
U.S. Government agencies and corporations:
Agency securities	561,153		2,595		5,997		557,751						557,751
Agency guaranteed mortgage-backed securities	301,020		10,662		844		310,838						310,838
Small Business Administration loan-backed securities	1,366,783		19,964		4,868		1,381,879						1,381,879
Municipal securities	150,897		1,213		704		151,406						151,406
Asset-backed securities:
Trust preferred securities – banks and insurance	934,353		13,578		188,520		759,411						759,411
Auction rate securities	6,508		87		35		6,560						6,560
Other	1,462		290		—		1,752						1,752
	3,323,647		48,464		200,968		3,171,143						3,171,143
Mutual funds and other	257,643		180		5,761		252,062						252,062
	3,581,290		48,644		206,729		3,423,205						3,423,205
Total	$	4,228,676	$	48,644	$	247,836	$	4,029,484					$	4,058,584


¹	Other comprehensive income



	December 31, 2013
			Recognized in OCI						Not recognized in OCI
(In thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Carrying value		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Held-to-maturity
Municipal securities	$	551,055	$	—	$	—	$	551,055	$	11,295	$	4,616	$	557,734
Asset-backed securities:
Trust preferred securities – banks and insurance	79,419		—		41,593		37,826		15,195		1,308		51,713
Other debt securities	100		—		—		100		—		—		100
	630,574		—		41,593		588,981		26,490		5,924		609,547
Available-for-sale
U.S. Treasury securities	1,442		104		—		1,546						1,546
U.S. Government agencies and corporations:
Agency securities	517,905		1,920		901		518,924						518,924
Agency guaranteed mortgage-backed securities	308,687		9,926		1,237		317,376						317,376
Small Business Administration loan-backed securities	1,202,901		21,129		2,771		1,221,259						1,221,259
Municipal securities	65,425		1,329		490		66,264						66,264
Asset-backed securities:
Trust preferred securities – banks and insurance	1,508,224		13,439		282,843		1,238,820						1,238,820
Trust preferred securities – real estate investment trusts	22,996		—		—		22,996						22,996
Auction rate securities	6,507		118		26		6,599						6,599
Other	27,540		359		—		27,899						27,899
	3,661,627		48,324		288,268		3,421,683						3,421,683
Mutual funds and other	287,603		21		7,421		280,203						280,203
	3,949,230		48,345		295,689		3,701,886						3,701,886
Total	$	4,579,804	$	48,345	$	337,282	$	4,290,867					$	4,311,433

Contractual Maturities Debt Securities



	Held-to-maturity				Available-for-sale
(In thousands)	Amortized cost		Estimated fair value		Amortized cost		Estimated fair value

Due in one year or less	$	77,395	$	56,283	$	510,870	$	497,041
Due after one year through five years	195,088		161,077		1,212,400		1,205,205
Due after five years through ten years	135,308		138,806		709,151		697,454
Due after ten years	239,595		279,213		891,226		771,443
	$	647,386	$	635,379	$	3,323,647	$	3,171,143

Summary Of Amount Of Gross Unrealized Losses For Debt Securities And Estimated Fair Value

The following is a summary of the amount of gross unrealized losses for investment securities and the estimated fair value by length of time the securities have been in an unrealized loss position:

	March 31, 2014
	Less than 12 months				12 months or more				Total
(In thousands)	Gross unrealized losses		Estimated fair value		Gross unrealized losses		Estimated fair value		Gross unrealized losses		Estimated fair value
Held-to-maturity
Municipal securities	$	1,414	$	43,060	$	293	$	5,721	$	1,707	$	48,781
Asset-backed securities:
Trust preferred securities – banks and insurance	56		71		42,276		54,551		42,332		54,622
	1,470		43,131		42,569		60,272		44,039		103,403
Available-for-sale
U.S. Government agencies and corporations:
Agency securities	5,936		326,547		61		5,803		5,997		332,350
Agency guaranteed mortgage-backed securities	792		48,560		52		3,054		844		51,614
Small Business Administration loan-backed securities	3,537		347,883		1,331		37,832		4,868		385,715
Municipal securities	57		7,127		647		2,824		704		9,951
Asset-backed securities:
Trust preferred securities – banks and insurance	1,280		52,845		187,240		624,501		188,520		677,346
Auction rate securities	11		1,603		24		889		35		2,492
	11,613		784,565		189,355		674,903		200,968		1,459,468
Mutual funds and other	—		—		5,761		124,331		5,761		124,331
	11,613		784,565		195,116		799,234		206,729		1,583,799
Total	$	13,083	$	827,696	$	237,685	$	859,506	$	250,768	$	1,687,202



	December 31, 2013
	Less than 12 months				12 months or more				Total
(In thousands)	Gross unrealized losses		Estimated fair value		Gross unrealized losses		Estimated fair value		Gross unrealized losses		Estimated fair value


Held-to-maturity
Municipal securities	$	4,025	$	70,400	$	591	$	9,103	$	4,616	$	79,503
Asset-backed securities:
Trust preferred securities – banks and insurance	—		—		42,901		51,319		42,901		51,319
	4,025		70,400		43,492		60,422		47,517		130,822
Available-for-sale
U.S. Government agencies and corporations:
Agency securities	828		47,862		73		5,874		901		53,736
Agency guaranteed mortgage-backed securities	1,231		64,533		6		935		1,237		65,468
Small Business Administration loan-backed securities	1,709		187,680		1,062		39,256		2,771		226,936
Municipal securities	73		8,834		417		3,179		490		12,013
Asset-backed securities:
Trust preferred securities – banks and insurance	2,539		51,911		280,304		847,990		282,843		899,901
Auction rate securities	5		1,609		21		892		26		2,501
	6,385		362,429		281,883		898,126		288,268		1,260,555
Mutual funds and other	943		24,057		6,478		103,614		7,421		127,671
	7,328		386,486		288,361		1,001,740		295,689		1,388,226
Total	$	11,353	$	456,886	$	331,853	$	1,062,162	$	343,206	$	1,519,048

Rollforward Of Total Amount Of Credit-Related OTTI



(In thousands)	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
(In thousands)	HTM			AFS			Total			HTM			AFS			Total
Balance of credit-related OTTI at beginning of period	$	(9,052	)	$	(176,833	)	$	(185,885	)	$	(13,549	)	$	(394,494	)	$	(408,043	)
Additions recognized in earnings during the period:
Credit-related OTTI on securities not previously impaired	—			—			—			(403		)	—			(403		)
Additional credit-related OTTI on securities previously impaired	(27		)	—			(27		)	—			(9,714		)	(9,714		)
Subtotal of amounts recognized in earnings	(27		)	—			(27		)	(403		)	(9,714		)	(10,117		)
Reductions for securities sold or paid off during the period	—			12,919			12,919			—			—			—
Balance of credit-related OTTI at end of period	$	(9,079	)	$	(163,914	)	$	(172,993	)	$	(13,952	)	$	(404,208	)	$	(418,160	)

Noncredit Related OTTI



(In thousands)	Three Months Ended March 31,
(In thousands)	2014		2013

HTM	$	—	$	16,114
AFS	—		5,262
	$	—	$	21,376

Gains And Losses, Including OTTI, Recognized In Statement Of Income



	Three Months Ended
	March 31, 2014					March 31, 2013
(In thousands)	Gross gains		Gross losses			Gross gains		Gross losses
(In thousands)	Gross gains		Gross losses			Gross gains		Gross losses
Investment securities:
Held-to-maturity	$	—	$	27		$	24	$	403
Available-for-sale	72,561		41,647			3,276		9,715
Other noninterest-bearing investments:
Nonmarketable equity securities	912		—			2,857		25
	73,473		41,674			6,157		10,143
Net gains (losses)			$	31,799				$	(3,986	)

Statement of income information:
Net impairment losses on investment securities			$	(27	)			$	(10,117	)
Equity securities gains, net			912					2,832
Fixed income securities gains, net			30,914					3,299
Net gains (losses)			$	31,799				$	(3,986	)

Tax and Nontaxable Interest Income by Investment Type [Table Text Block]



	Three Months Ended
	March 31, 2014						March 31, 2013
(In thousands)	Taxable		Nontaxable		Total		Taxable		Nontaxable		Total
(In thousands)	Taxable		Nontaxable		Total		Taxable		Nontaxable		Total
Investment securities:
Held-to-maturity	$	3,828	$	2,836	$	6,664	$	5,073	$	2,901	$	7,974
Available-for-sale	20,424		524		20,948		17,173		539		17,712
Trading	482		—		482		190		—		190
	$	24,734	$	3,360	$	28,094	$	22,436	$	3,440	$	25,876

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

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- 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.

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