Mortgage-Backed Securities (Tables)

6 Months Ended

Jun. 30, 2013

Mortgage Backed Securities Tables [Abstract]

Schedule of Mortgage-Backed Securities Reconciliation

The following table presents the Company's MBS portfolio as of June 30, 2013 and December 31, 2012:

(in thousands)
		June 30, 2013		December 31, 2012
Pass-Through Certificates:
	Hybrid Adjustable-rate Mortgages	$	101,255	$	59,485
	Adjustable-rate Mortgages		6,210		6,531
	Fixed-rate Mortgages		209,711		43,589
	Total Pass-Through Certificates		317,176		109,605
Structured MBS Certificates:
	Interest-Only Securities		20,101		2,884
	Inverse Interest-Only Securities		1,871		2,891
	Total Structured MBS Certificates		21,972		5,775
Total		$	339,148	$	115,380

Schedule Of Mortgage-Backed Securities by Contractual Maturity

The following table summarizes the Company's MBS portfolio as of June 30, 2013 and December 31, 2012, according to their contractual maturities. Actual maturities of MBS investments are generally shorter than stated contractual maturities and are affected by the contractual lives of the underlying mortgages, periodic payments of principal, and prepayments of principal.

(in thousands)
	June 30, 2013		December 31, 2012
Greater than five years and less than ten years	$	11,819	$	12,980
Greater than or equal to ten years		327,329		102,400
Total	$	339,148	$	115,380