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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2012
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities
 
September 30, 2012
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Securities available for sale
 
 
 
 
 
 
 
Debt Securities
 
 
 
 
 
 
 
U.S. government agency debentures
$
35,109

 
$
28

 
$
—

 
$
35,137

U.S. States and political subdivisions
241,436

 
17,003

 
(21
)
 
258,418

Residential mortgage-backed securities:
 
 
 
 
 
 
 
U.S. government agencies
1,216,671

 
61,160

 
—

 
1,277,831

Commercial mortgage-backed securities:
 
 
 
 
 
 
 
U.S. government agencies
15,434

 
233

 
—

 
15,667

Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
U.S. government agencies
1,188,072

 
17,836

 
(383
)
 
1,205,525

Non-agency
12

 
—

 
—

 
12

Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
U.S. government agencies
66,316

 
2,349

 
—

 
68,665

Corporate debt securities
61,527

 
—

 
(14,034
)
 
47,493

Total debt securities
2,824,577

 
98,609

 
(14,438
)
 
2,908,748

Marketable equity securities
3,245

 
—

 
—

 
3,245

Total securities available for sale
$
2,827,822

 
$
98,609

 
$
(14,438
)
 
$
2,911,993

Securities held to maturity
 
 
 
 
 
 
 
Debt Securities
 
 
 
 
 
 
 
U.S. States and political subdivisions
$
262,091

 
$
6,946

 
$
(17
)
 
$
269,020

Commercial mortgage-backed securities:
 
 
 
 
 
 
 
     U.S. government agency obligations
33,149

 
792

 
—

 
33,941

Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
U.S. government agencies
129,265

 
396

 
—

 
129,661

Commercial collateralized mortgage obligations:
 
 
 
 
 
 
 
     U.S. government agency obligations
98,961

 
1,054

 
—

 
100,015

Corporate debt securities
97,165

 
1,435

 
—

 
98,600

Total securities held to maturity
$
620,631

 
$
10,623

 
$
(17
)
 
$
631,237

 
 
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

 
 
September 30, 2011
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Securities available for sale
 
 
 
 
 
 
 
Debt Securities
 
 
 
 
 
 
 
U.S. government agency debentures
$
203,148

 
$
590

 
$
(20
)
 
$
203,718

U.S. States and political subdivisions
298,140

 
16,426

 
(125
)
 
314,441

Residential mortgage-backed securities:
 
 
 
 
 
 
 
U.S. government agencies
1,419,808

 
61,416

 
(2
)
 
1,481,222

Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
U.S. government agencies
1,080,627

 
23,327

 
(45
)
 
1,103,909

Non-agency
44,715

 
139

 
—

 
44,854

Corporate debt securities
61,474

 
—

 
(15,287
)
 
46,187

Total debt securities
3,107,912

 
101,898

 
(15,479
)
 
3,194,331

Marketable equity securities
3,715

 
—

 
—

 
3,715

Total securities available for sale
$
3,111,627

 
$
101,898

 
$
(15,479
)
 
$
3,198,046

Securities held to maturity
 
 
 
 
 
 
 
Debt Securities
 
 
 
 
 
 
 
U.S. States and political subdivisions
$
92,214

 
$
2,707

 
$
—

 
$
94,921

Total securities held to maturity
$
92,214

 
$
2,707

 
$
—

 
$
94,921
Other investments
 
September 30, 2012
 
December 31, 2011
 
September 30, 2011
FRB stock
$
21,045

 
$
21,003

 
$
20,804

FHLB stock
119,145

 
119,145

 
139,398

Other
540

 
578

 
591

Total other investments
$
140,730

 
$
140,726

 
$
160,793
Gross unrealized losses and fair value of securities
The following table presents the gross unrealized losses and fair value of securities in the securities available-for-sale portfolio by length of time that individual securities in each category had been in a continuous loss position.
 
September 30, 2012
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Number of
Impaired
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
Impaired
Securities
 
Fair
Value
 
Unrealized
Losses
Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency debentures
$
—

 
$
—

 
—

 
$
—

 
$
—

 
—

 
$
—

 
$
—

U.S. States and political subdivisions
3,560

 
(21
)
 
8

 
—

 
—

 
—

 
3,560

 
(21
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
—

 
—

 
—

 
14

 
—

 
1

 
14

 
—

Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
121,427

 
(379
)
 
8

 
1,581

 
(4
)
 
1

 
123,008

 
(383
)
U.S. non agencies
—

 
—

 
—

 
2

 
—

 
1

 
2

 
—

Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Corporate debt securities
—

 
—

 
—

 
47,493

 
(14,034
)
 
8

 
47,493

 
(14,034
)
Total temporarily impaired securities
$
124,987

 
$
(400
)
 
16

 
$
49,090

 
$
(14,038
)
 
11

 
$
174,077

 
$
(14,438
)
 
December 31, 2011
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Number of
Impaired
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
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
48,003

 
(55
)
 
6

 
—

 
—

 
—

 
48,003

 
(55
)
Non-agency
—

 
—

 
—

 
2

 
—

 
1

 
2

 
—

Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
30,227

 
(145
)
 
2

 
—

 
—

 
—

 
30,227

 
(145
)
Corporate debt securities
24,846

 
(127
)
 
8

 
44,234

 
(17,254
)
 
8

 
69,080

 
(17,381
)
Total temporarily impaired securities
$
148,345

 
$
(506
)
 
26

 
$
44,385

 
$
(17,256
)
 
10

 
$
192,730

 
$
(17,762
)
 
 
September 30, 2011
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Number of
Impaired
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
Impaired
Securities
 
Fair
Value
 
Unrealized
Losses
Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency debentures
$
15,032

 
$
(20
)
 
1

 
$
—

 
$
—

 
—

 
$
15,032

 
$
(20
)
U.S. States and political subdivisions
16,180

 
(102
)
 
18

 
648

 
(23
)
 
1

 
16,828

 
(125
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
—

 
—

 
—

 
174

 
(2
)
 
2

 
174

 
(2
)
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
21,505

 
(45
)
 
3

 
—

 
—

 
—

 
21,505

 
(45
)
Corporate debt securities
—

 
—

 
—

 
46,187

 
(15,287
)
 
8

 
46,187

 
(15,287
)
Total temporarily impaired securities
$
52,717

 
$
(167
)
 
22

 
$
47,009

 
$
(15,312
)
 
11

 
$
99,726

 
$
(15,479
)
Proceeds and gross unrealized gains and losses on sales of available-for-sale securities
Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2012
 
2011
 
2012
 
2011
Proceeds
$
29,735

 
$
179,133

 
$
190,813

 
$
182,781

Realized gains
553

 
4,473

 
1,361

 
5,418

Realized losses
—

 
(71
)
 
—

 
(127
)
Net securities gains
$
553

 
$
4,402

 
$
1,361

 
$
5,291
Contractual maturities and contractual yields of debt securities held-to-maturity and available-for-sale
Estimated lives on mortgage-backed securities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
U.S.
Government
agency
debentures
 
U.S. States and
political
subdivisions
obligations
 
Residential
mortgage-backed
securities - U.S
govt. agency
obligations
 
Commercial 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
issued
 
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
$
35,137

 
$
7,322

 
$
4,032

 
$
5,073

 
$
62,769

 
$
—

 
$
—

 
$
—

 
$
114,333

 
2.68
%
Over one year through five years
—

 
27,234

 
1,265,886

 
—

 
1,111,218

 
12

 
63,358

 
—

 
2,467,708

 
2.55
%
Over five years through ten years
—

 
177,836

 
7,913

 
10,594

 
31,538

 
—

 
5,307

 
—

 
233,188

 
4.74
%
Over ten years
—

 
46,026

 
—

 
—

 
—

 
—

 
—

 
47,493

 
93,519

 
2.74
%
Fair Value
$
35,137

 
$
258,418

 
$
1,277,831

 
$
15,667

 
$
1,205,525

 
$
12

 
$
68,665

 
$
47,493

 
$
2,908,748

 
2.74
%
Amortized Cost
$
35,109

 
$
241,436

 
$
1,216,671

 
$
15,434

 
$
1,188,072

 
$
12

 
$
66,316

 
$
61,527

 
$
2,824,577

 
 
Weighted-Average Yield
0.73
%
 
5.37
%
 
2.98
%
 
1.75
%
 
2.14
%
 
3.81
%
 
2.13
%
 
1.09
%
 
2.74
%
 
 
Weighted-Average Maturity
0.14

 
7.83

 
3.02

 
4.00

 
2.94

 
1.92

 
4.35

 
15.06

 
3.66

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

 
$
45,126

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
45,126

 
1.61
%
Over one year through five years
—

 
15,116

 
—

 
—

 
129,661

 
—

 
21,160

 
33,529

 
199,466

 
2.17
%
Over five years through ten years
—

 
30,309

 
—

 
33,941

 
—

 
—

 
78,855

 
65,071

 
208,176

 
2.81
%
Over ten years
—

 
178,469

 
—

 
—

 
—

 
—

 
—

 
—

 
178,469

 
5.14
%
Fair Value
$
—

 
$
269,020

 
$
—

 
$
33,941

 
$
129,661

 
$
—

 
$
100,015

 
$
98,600

 
$
631,237

 
3.18
%
Amortized Cost
$
—

 
$
262,091

 
$
—

 
$
33,149

 
$
129,265

 
$
—

 
$
98,961

 
$
97,165

 
$
620,631

 
 
Weighted-Average Yield
—
%
 
5.10
%
 
—
%
 
1.42
%
 
1.89
%
 
—
%
 
2.91
%
 
2.23
%
 
3.18
%
 
 
Weighted-Average Maturity
—

 
13.48

 
—

 
6.03

 
2.70

 
—

 
6.86

 
5.29

 
7.35