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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2011
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities
 
 
December 31, 2011
 
 
Amortized
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair
Value
Securities available for sale
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S. government agency debentures
$
122,711

 
$
358

 
$
—

 
$
123,069

 
U.S States and political subdivisions
334,916

 
22,865

 
(50
)
 
357,731

 
Residential mortgage-backed securities:
 
 
 
 

 
 
 
U.S. government agencies
1,407,345

 
53,129

 
(131
)
 
1,460,343

 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
1,115,832

 
22,058

 
(55
)
 
1,137,835

 
Non-agency
43,225

 
82

 
—

 
43,307

 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
127,624

 
1,648

 
(145
)
 
129,127

 
Corporate debt securities
115,947

 
276

 
(17,381
)
 
98,842

 
Total debt securities
3,267,600

 
100,416

 
(17,762
)
 
3,350,254

Marketable equity securities
3,299

 
—

 
—

 
3,299

 
Total securities available for sale
$
3,270,899

 
$
100,416

 
$
(17,762
)
 
$
3,353,553

Securities held to maturity
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S States and political subdivisions
$
82,764

 
$
2,348

 
$
—

 
$
85,112

 
Total securities held to maturity
$
82,764

 
$
2,348

 
$
—

 
$
85,112


 
 
December 31, 2010
 
 
Amortized
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair
Value
Securities available for sale
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S. government agency debentures
$
399,122

 
$
703

 
$
(194
)
 
$
399,631

 
U.S States and political subdivisions
296,327

 
3,537

 
(2,119
)
 
297,745

 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
1,343,021

 
52,230

 
(547
)
 
1,394,704

 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
814,774

 
18,223

 
(2,306
)
 
830,691

 
Non-agency
15,018

 
—

 
—

 
15,018

 
Corporate debt securities
61,435

 
—

 
(16,106
)
 
45,329

 
Total debt securities
2,929,697

 
74,693

 
(21,272
)
 
2,983,118

Marketable equity securities
3,922

 
—

 
—

 
3,922

 
Total securities available for sale
$
2,933,619

 
$
74,693

 
$
(21,272
)
 
$
2,987,040

Securities held to maturity
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S States and political subdivisions
$
59,962

 
$
1,832

 
$
—

 
$
61,794

 
Total securities held to maturity
$
59,962

 
$
1,832

 
$
—

 
$
61,794
Other investments
FRB and FHLB stock constitute the majority of other investments on the consolidated balance sheets.
 
December 31,
 
2011
 
2010
FRB stock
$
21,003

 
$
20,725

FHLB stock
119,145

 
139,398

Other
578

 
629

Total other investments
$
140,726

 
$
160,752
Proceeds and gross unrealized gains and losses on sales of available-for-sale securities
 
Years Ended December 31,
 
2011
 
2010
 
2009
Proceeds
$
968,478

 
$
552,078

 
$
286,946

 
 
 
 
 
 
Realized gains
$
11,251

 
$
1,810

 
$
6,037

Realized losses
(170
)
 
(955
)
 
—

Net securities gains
$
11,081

 
$
855

 
$
6,037
Gross unrealized losses and fair value of securities
 
 
 
December 31, 2011
 
 
 
Less than 12 months
 
12 months or longer
 
Total
Securities available for sale
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired
Securities
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired
Securities
 
Fair Value
 
Unrealized
Losses
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S States and political subdivisions
 
$
5,249

 
$
(50
)
 
6

 
$
—

 
$
—

 
—

 
$
5,249

 
$
(50
)
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
40,020

 
(129
)
 
4

 
149

 
(2
)
 
1

 
40,169

 
(131
)
 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
58,337

 
(102
)
 
7

 
—

 
—

 
—

 
58,337

 
(102
)
 
Non-agency
 
—

 
—

 
—

 
2

 
—

 
1

 
2

 
—

 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
 
19,892

 
(98
)
 
1

 
—

 
—

 
—

 
19,892

 
(98
)
 
Corporate debt securities
 
24,846

 
(127
)
 
8

 
44,234

 
(17,254
)
 
8

 
69,080

 
(17,381
)
 
Total temporarily impaired securities
 
$
148,344

 
$
(506
)
 
$
26

 
$
44,385

 
$
(17,256
)
 
$
10

 
$
192,729

 
$
(17,762
)

 
 
 
December 31, 2010
 
 
 
Less than 12 months
 
12 months or longer
 
Total
Securities available for sale
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired
Securities
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired
Securities
 
Fair Value
 
Unrealized
Losses
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency debentures
 
$
109,238

 
$
(194
)
 
8

 
$
—

 
$
—

 
—

 
$
109,238

 
(194
)
 
U.S. States and political subdivisions
 
105,530

 
(2,095
)
 
164

 
665

 
(24
)
 
1

 
106,195

 
(2,119
)
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
67,474

 
(544
)
 
7

 
195

 
(3
)
 
1

 
67,669

 
(547
)
 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
188,264

 
(2,306
)
 
17

 
—

 
—

 
—

 
188,264

 
(2,306
)
 
Corporate debt securities
 
—

 
—

 
—

 
45,329

 
(16,106
)
 
8

 
45,329

 
(16,106
)
 
Total temporarily impaired securities
 
$
470,506

 
$
(5,139
)
 
196

 
$
46,189

 
$
(16,133
)
 
10

 
$
516,695

 
(21,272
)
Contractual maturities and contractual yields of debt securities held-to-maturity and available-for-sale
 
 
U.S.
Government
agency
debentures
 
U.S. States
and political
subdivisions
obligations
 
Residential
mortgage
backed
securities
U.S.
govt. agency
obligations
 
Residential
collateralized
mortgage
obligations -
U.S. govt.
agency
obligations
 
Residential
collateralized
mortgage
obligations -
non-U.S.
govt. agency
obligations
 
Commercial
collateralized
mortgage
obligations -
U.S. govt.
agency
obligations
 
Corporate
debt
securities
 
Total
 
Weighted
Average
Yield
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remaining maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One year or less
 
$
123,069

 
$
8,062

 
$
2,758

 
$
50,863

 
$
—

 
$
—

 
$
—

 
$
184,752

 
1.89
%
Over one year through five years
 
—

 
17,845

 
1,442,442

 
1,086,972

 
16,094

 
39,541

 
20,977

 
2,623,871

 
2.94
%
Over five years through ten years
 
—

 
177,411

 
15,143

 
—

 
27,213

 
89,586

 
33,631

 
342,984

 
4.02
%
Over ten years
 
—

 
154,413

 
—

 
—

 
—

 
—

 
44,234

 
198,647

 
4.49
%
Fair Value
 
$
123,069

 
$
357,731

 
$
1,460,343

 
$
1,137,835

 
$
43,307

 
$
129,127

 
$
98,842

 
$
3,350,254

 
3.09
%
Amortized Cost
 
$
122,711

 
$
334,916

 
$
1,407,345

 
$
1,115,832

 
$
43,225

 
$
127,624

 
$
115,947

 
$
3,267,600

 
 
Weighted-Average Yield
 
0.78
%
 
5.65
%
 
3.36
%
 
2.51
%
 
0.77
%
 
2.71
%
 
1.67
%
 
3.09
%
 
 
Weighted-Average Maturity
 
0.61

 
9.85

 
3.45

 
2.64

 
5.54

 
6.52

 
11.06

 
4.14

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remaining maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One year or less
 
$
—

 
$
30,791

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
30,791

 
3.33
%
Over one year through five years
 
—

 
14,425

 
—

 
—

 
—

 
—

 
—

 
14,425

 
3.37
%
Over five years through ten years
 
—

 
5,657

 
—

 
—

 
—

 
—

 
—

 
5,657

 
3.37
%
Over ten years
 
—

 
34,239

 
—

 
—

 
—

 
—

 
—

 
34,239

 
7.27
%
Fair Value
 
$
—

 
$
85,112

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
85,112

 
4.93
%
Amortized Cost
 
$
—

 
$
82,764

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
82,764

 
 
Weighted-Average Yield
 
—

 
4.93
%
 
—
%
 
—
%
 
—
%
 
—
%
 
—
%
 
4.93
%
 
 
Weighted-Average Maturity
 
—

 
6.86

 
—

 
—

 
—

 
—

 
—

 
6.86