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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Investment
(Dollars in thousands)
 
 U.S. Treasury notes & bonds
 
U.S. Government agency debentures
 
U.S. States and political subdivisions
 
Residential mortgage-backed securities - U.S. govt. agencies
 
Commercial mortgage-backed securities - U.S. govt. agencies
 
Residential collateralized mortgage obligations - U.S. govt. agencies
 
Residential collateralized mortgage obligations - non-agency
 
Commercial collateralized mortgage obligations - U.S. govt. agencies
 
Asset backed securities - collateralized loan obligations
 
Corporate debt securities
 
Total
 
Weighted Average Yield
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remaining maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One year or less
 
$
5,005

 
$
—

 
$
20,063

 
$
2,279

 
$
15,549

 
$
7,436

 
$
—

 
$
6,322

 
$
—

 
$
—

 
$
56,654

 
2.52
%
Over one year through five years
 
—

 
2,510

 
75,373

 
808,704

 
65,023

 
1,793,341

 
5

 
150,920

 
—

 
—

 
2,895,876

 
2.15
%
Over five years through ten years
 
—

 
—

 
88,239

 
149,869

 
89,766

 
148,612

 
—

 
71,196

 
258,081

 
—

 
805,763

 
2.88
%
Over ten years
 
—

 
—

 
23,942

 
—

 
—

 
—

 
—

 
—

 
—

 
53,450

 
77,392

 
1.85
%
Fair Value
 
$
5,005

 
$
2,510

 
$
207,617

 
$
960,852

 
$
170,338

 
$
1,949,389

 
$
5

 
$
228,438

 
$
258,081

 
$
53,450

 
$
3,835,685

 
2.30
%
Amortized Cost
 
$
5,004

 
$
2,500

 
$
203,449

 
$
947,347

 
$
171,842

 
$
1,968,918

 
$
5

 
$
227,889

 
$
259,743

 
$
61,681

 
$
3,848,378

 
 
Weighted-Average Yield
 
0.27
%
 
1.25
%
 
5.14
%
 
2.47
%
 
2.05
%
 
1.98
%
 
3.36
%
 
1.63
%
 
2.97
%
 
1.00
%
 
2.30
%
 
 
Weighted-Average Maturity (in years)
 
0.75

 
2.92

 
5.50

 
3.90

 
4.51

 
3.88

 
2.00

 
3.80

 
6.34

 
12.31

 
4.29

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

 
$
—

 
$
51,848

 
$
—

 
$
16,020

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
67,868

 
2.39
%
Over one year through five years
 
—

 
24,677

 
126,680

 
450,306

 
31,459

 
1,188,398

 
—

 
172,222

 
—

 
89,970

 
2,081,419

 
1.82
%
Over five years through ten years
 
—

 
—

 
198,461

 
108,946

 
10,176

 
44,343

 
—

 
88,000

 
—

 
—

 
449,926

 
3.23
%
Over ten years
 
—

 
—

 
158,614

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
158,614

 
5.37
%
Fair Value
 
$
—

 
$
24,677

 
$
535,603

 
$
559,252

 
$
57,655

 
$
1,232,741

 
$
—

 
$
260,222

 
$
—

 
$
89,970

 
$
2,760,120

 
2.26
%
Amortized Cost
 
$
—

 
$
25,000

 
$
529,441

 
$
555,273

 
$
57,462

 
$
1,267,321

 
$
—

 
$
263,741

 
$
—

 
$
89,275

 
$
2,787,513

 
 
Weighted-Average Yield
 
—
%
 
1.43
%
 
4.62
%
 
2.13
%
 
2.10
%
 
1.59
%
 
—
%
 
1.87
%
 
—
%
 
2.27
%
 
2.26
%
 
 
Weighted-Average Maturity (in years)
 
—

 
4.33

 
9.02

 
4.25

 
3.26

 
3.87

 
—

 
4.32

 
—

 
2.53

 
4.64

 
 
Amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities
The following tables provide the amortized cost and fair value for the major categories of held-to-maturity and available-for-sale securities. Held-to-maturity securities are carried at amortized cost, which reflects historical cost, adjusted for amortization of premiums and accretion of discounts. Available-for-sale securities are carried at fair value with net unrealized gains or losses reported on an after tax basis as a component of OCI in shareholders' equity.
 
 
June 30, 2015
(In thousands)
Amortized
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair
Value
Securities available-for-sale
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S. treasury notes & bonds
$
5,004

 
$
1

 
$
—

 
$
5,005

 
U.S. government agency debentures
2,500

 
10

 
—

 
2,510

 
U.S. states and political subdivisions
203,449

 
5,191

 
(1,023
)
 
207,617

 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
947,347

 
18,068

 
(4,563
)
 
960,852

 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
171,842

 
643

 
(2,147
)
 
170,338

 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
1,968,918

 
4,779

 
(24,308
)
 
1,949,389

 
Non-agency
5

 
—

 
—

 
5

 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
227,889

 
1,254

 
(705
)
 
228,438

 
Asset-backed securities:
 
 
 
 
 
 
 
 
Collateralized loan obligations
259,743

 
801

 
(2,463
)
 
258,081

 
Corporate debt securities
61,681

 
—

 
(8,231
)
 
53,450

 
Total debt securities
3,848,378

 
30,747

 
(43,440
)
 
3,835,685

Equity securities
 
 
 
 
 
 
 
 
Marketable equity securities
2,824

 
—

 
—

 
2,824

 
Non-marketable equity securities
—

 
—

 
—

 
—

 
Total equity securities
2,824

 
—

 
—

 
2,824

 
Total securities available-for-sale
$
3,851,202

 
$
30,747

 
$
(43,440
)
 
$
3,838,509

Securities held-to-maturity
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S. government agency debentures
$
25,000

 
$
—

 
$
(323
)
 
$
24,677

 
U.S. states and political subdivisions
529,441

 
8,104

 
(1,942
)
 
535,603

 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
555,273

 
6,919

 
(2,940
)
 
559,252

 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
57,462

 
412

 
(219
)
 
57,655

 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
1,267,321

 
445

 
(35,025
)
 
1,232,741

 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
263,741

 
1,004

 
(4,523
)
 
260,222

 
Corporate debt securities
89,275

 
695

 
—

 
89,970

 
Total securities held-to-maturity
$
2,787,513

 
$
17,579

 
$
(44,972
)
 
$
2,760,120

 
 
 
 
 
 
 
 
 

 
 
December 31, 2014
(In thousands)
Amortized
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair
Value
Securities available-for-sale
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S. government agency debentures
$
2,500

 
$
—

 
$
(18
)
 
$
2,482

 
U.S. states and political subdivisions
221,052

 
6,756

 
(466
)
 
227,342

 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
951,839

 
22,377

 
(3,218
)
 
970,998

 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
104,176

 
598

 
(1,371
)
 
103,403

 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
1,698,015

 
4,777

 
(26,225
)
 
1,676,567

 
Non-agency
7

 
—

 
—

 
7

 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
   U.S. government agencies
222,876

 
863

 
(1,405
)
 
222,334

 
Asset-backed securities:
 
 
 
 
 
 
 
 
Collateralized loan obligations
297,446

 
11

 
(9,613
)
 
287,844

 
Corporate debt securities
61,652

 
—

 
(10,315
)
 
51,337

 
   Total debt securities
3,559,563

 
35,382

 
(52,631
)
 
3,542,314

Equity securities
 
 
 
 
 
 
 
 
   Marketable equity securities
2,974

 
—

 
—

 
2,974

 
   Total equity securities
2,974

 
—

 
—

 
2,974

 
   Total securities available-for-sale
$
3,562,537

 
$
35,382

 
$
(52,631
)
 
$
3,545,288

Securities held-to-maturity
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S. treasury notes & bonds
$
5,000

 
$
—

 
$
—

 
$
5,000

 
U.S. government agency debentures
25,000

 
—

 
(537
)
 
24,463

 
U.S. states and political subdivisions
517,824

 
12,645

 
(191
)
 
530,278

 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
580,727

 
7,495

 
(3,045
)
 
585,177

 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
58,143

 
281

 
(329
)
 
58,095

 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
1,368,534

 
718

 
(38,875
)
 
1,330,377

 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
257,642

 
557

 
(6,768
)
 
251,431

 
Corporate debt securities
90,739

 
412

 
(52
)
 
91,099

 
    Total securities held-to-maturity
$
2,903,609

 
$
22,108

 
$
(49,797
)
 
$
2,875,920

 
 
 
 
 
 
 
 
 


 
 
June 30, 2014
(In thousands)
Amortized
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair
Value
Securities available-for-sale
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S. states and political subdivisions
$
233,228

 
$
8,600

 
$
(1,023
)
 
$
240,805

 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
998,698

 
24,965

 
(5,489
)
 
1,018,174

 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
86,870

 
351

 
(1,523
)
 
85,698

 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
1,627,871

 
5,009

 
(34,849
)
 
1,598,031

 
Non-agency
8

 
—

 
—

 
8

 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
   U.S. government agencies
182,151

 
1,008

 
(1,126
)
 
182,033

 
Asset-backed securities:
 
 
 
 
 
 
 
 
   Collateralized loan obligations
297,334

 
883

 
(4,252
)
 
293,965

 
Corporate debt securities
61,624

 
—

 
(8,134
)
 
53,490

 
Total debt securities
3,487,784

 
40,816

 
(56,396
)
 
3,472,204

Equity Securities
 
 
 
 
 
 
 
 
Marketable equity securities
2,935

 
—

 
—

 
2,935

 
Non-marketable equity securities
3,281

 
—

 
—

 
3,281

 
Total equity securities
6,216

 
—

 
—

 
6,216

 
Total securities available-for-sale
$
3,494,000

 
$
40,816

 
$
(56,396
)
 
$
3,478,420

Securities held-to-maturity
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
U.S. treasury notes & bonds
$
5,000

 
$
5

 
$
—

 
$
5,005

 
U.S. government agency debentures
25,000

 
—

 
(707
)
 
24,293

 
U.S states and political subdivisions
549,850

 
10,072

 
(1,253
)
 
558,669

 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
   U.S. government agencies
624,605

 
6,825

 
(4,933
)
 
626,497

 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
U.S. government agencies
56,020

 
176

 
(445
)
 
55,751

 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
   U.S. government agencies
1,450,479

 
114

 
(54,263
)
 
1,396,330

 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
   U.S. government agencies
248,974

 
641

 
(7,252
)
 
242,363

 
Corporate debt securities
92,190

 
768

 
—

 
92,958

 
Total securities held-to-maturity
$
3,052,118

 
$
18,601

 
$
(68,853
)
 
$
3,001,866

 
 
 
 
 
 
 
 
 
Investments Classified by Contractual Maturity Date
(Dollars in thousands)
 
 U.S. Treasury notes & bonds
 
U.S. Government agency debentures
 
U.S. States and political subdivisions
 
Residential mortgage-backed securities - U.S. govt. agencies
 
Commercial mortgage-backed securities - U.S. govt. agencies
 
Residential collateralized mortgage obligations - U.S. govt. agencies
 
Residential collateralized mortgage obligations - non-agency
 
Commercial collateralized mortgage obligations - U.S. govt. agencies
 
Asset backed securities - collateralized loan obligations
 
Corporate debt securities
 
Total
 
Weighted Average Yield
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remaining maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One year or less
 
$
5,005

 
$
—

 
$
20,063

 
$
2,279

 
$
15,549

 
$
7,436

 
$
—

 
$
6,322

 
$
—

 
$
—

 
$
56,654

 
2.52
%
Over one year through five years
 
—

 
2,510

 
75,373

 
808,704

 
65,023

 
1,793,341

 
5

 
150,920

 
—

 
—

 
2,895,876

 
2.15
%
Over five years through ten years
 
—

 
—

 
88,239

 
149,869

 
89,766

 
148,612

 
—

 
71,196

 
258,081

 
—

 
805,763

 
2.88
%
Over ten years
 
—

 
—

 
23,942

 
—

 
—

 
—

 
—

 
—

 
—

 
53,450

 
77,392

 
1.85
%
Fair Value
 
$
5,005

 
$
2,510

 
$
207,617

 
$
960,852

 
$
170,338

 
$
1,949,389

 
$
5

 
$
228,438

 
$
258,081

 
$
53,450

 
$
3,835,685

 
2.30
%
Amortized Cost
 
$
5,004

 
$
2,500

 
$
203,449

 
$
947,347

 
$
171,842

 
$
1,968,918

 
$
5

 
$
227,889

 
$
259,743

 
$
61,681

 
$
3,848,378

 
 
Weighted-Average Yield
 
0.27
%
 
1.25
%
 
5.14
%
 
2.47
%
 
2.05
%
 
1.98
%
 
3.36
%
 
1.63
%
 
2.97
%
 
1.00
%
 
2.30
%
 
 
Weighted-Average Maturity (in years)
 
0.75

 
2.92

 
5.50

 
3.90

 
4.51

 
3.88

 
2.00

 
3.80

 
6.34

 
12.31

 
4.29

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

 
$
—

 
$
51,848

 
$
—

 
$
16,020

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
67,868

 
2.39
%
Over one year through five years
 
—

 
24,677

 
126,680

 
450,306

 
31,459

 
1,188,398

 
—

 
172,222

 
—

 
89,970

 
2,081,419

 
1.82
%
Over five years through ten years
 
—

 
—

 
198,461

 
108,946

 
10,176

 
44,343

 
—

 
88,000

 
—

 
—

 
449,926

 
3.23
%
Over ten years
 
—

 
—

 
158,614

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
158,614

 
5.37
%
Fair Value
 
$
—

 
$
24,677

 
$
535,603

 
$
559,252

 
$
57,655

 
$
1,232,741

 
$
—

 
$
260,222

 
$
—

 
$
89,970

 
$
2,760,120

 
2.26
%
Amortized Cost
 
$
—

 
$
25,000

 
$
529,441

 
$
555,273

 
$
57,462

 
$
1,267,321

 
$
—

 
$
263,741

 
$
—

 
$
89,275

 
$
2,787,513

 
 
Weighted-Average Yield
 
—
%
 
1.43
%
 
4.62
%
 
2.13
%
 
2.10
%
 
1.59
%
 
—
%
 
1.87
%
 
—
%
 
2.27
%
 
2.26
%
 
 
Weighted-Average Maturity (in years)
 
—

 
4.33

 
9.02

 
4.25

 
3.26

 
3.87

 
—

 
4.32

 
—

 
2.53

 
4.64

 
 
Schedule of general obligation bonds
The Corporation's U.S. states and political subdivisions portfolio is composed of general obligation bonds issued by a highly diversified number of states, cities, counties, and school districts. The amortized cost and fair value of the Corporation's portfolio of general obligation bonds are summarized by U.S. state in the tables below. As illustrated in the tables below, the aggregate fair value of the Corporation's general obligation bonds was greater than $10.0 million in eleven of the thirty-seven U.S. states in which it holds investments.
(Dollars in thousands)
June 30, 2015
U.S. State
# of Issuers
 
Average Issue Size, Fair Value
 
Amortized Cost
 
Fair Value
Ohio
127
 
$
964

 
$
121,716

 
$
122,474

Michigan
153
 
1,018

 
152,499

 
155,712

Illinois
60
 
1,784

 
105,581

 
107,033

Wisconsin
70
 
585

 
39,774

 
40,950

Texas
67
 
759

 
50,370

 
50,877

Pennsylvania
46
 
1,014

 
46,547

 
46,666

Minnesota
34
 
692

 
23,267

 
23,540

Washington
30
 
939

 
27,783

 
28,169

New Jersey
34
 
720

 
23,916

 
24,472

Missouri
15
 
1,084

 
15,981

 
16,265

New York
18
 
633

 
11,187

 
11,392

Other
119

 
639

 
75,670

 
76,040

Total general obligation bonds
773

 
$
910

 
$
694,291

 
$
703,590

 
 
 
 
 
 
 
 
(Dollars in thousands)
December 31, 2014
U.S. State
# of Issuers
 
Average Issue Size, Fair Value
 
Amortized Cost
 
Fair Value
Ohio
137

 
$
979

 
$
130,741

 
$
134,127

Michigan
169

 
842

 
138,325

 
142,292

Illinois
66

 
1,897

 
121,560

 
125,169

Wisconsin
77

 
841

 
62,543

 
64,776

Texas
64

 
801

 
50,307

 
51,293

Pennsylvania
45

 
1,000

 
44,443

 
45,006

Minnesota
42

 
674

 
27,740

 
28,326

Washington
30

 
952

 
27,987

 
28,558

New Jersey
37

 
746

 
26,755

 
27,612

Missouri
19

 
1,011

 
18,764

 
19,207

New York
19

 
628

 
11,659

 
11,929

Other
120

 
650

 
76,849

 
78,020

Total general obligation bonds
825

 
$
917

 
$
737,673

 
$
756,315

 
 
 
 
 
 
 
 
(Dollars in thousands)
June 30, 2014
U.S. State
# of Issuers
 
Average Issue Size, Fair Value
 
Amortized Cost
 
Fair Value
Ohio
152

 
$
1,065

 
$
158,773

 
$
161,809

Illinois
74

 
1,578

 
113,501

 
116,741

Texas
65

 
794

 
50,845

 
51,632

Pennsylvania
49

 
972

 
47,870

 
47,623

Wisconsin
87

 
864

 
72,616

 
75,155

Minnesota
42

 
678

 
27,864

 
28,468

New Jersey
37

 
751

 
26,815

 
27,805

Michigan
174

 
862

 
146,565

 
150,052

Washington
30

 
955

 
28,191

 
28,660

Missouri
19

 
1,022

 
18,855

 
19,413

New York
21

 
612

 
12,627

 
12,860

Other
123

 
640

 
78,100

 
78,724

Total general obligation bonds
873

 
$
915

 
$
782,622

 
$
798,942

 
 
 
 
 
 
 
 
Other investments
FRB and FHLB stock constitutes the majority of other investments on the Consolidated Balance Sheets.
(In thousands)
June 30, 2015
 
December 31, 2014
 
June 30, 2014
FRB stock
$
55,853

 
$
55,681

 
$
55,435

FHLB stock
91,713

 
92,547

 
92,547

Other
401

 
426

 
451

Total other investments
$
147,967

 
$
148,654

 
$
148,433

 
 
 
 
 
 
Realized Gains and Losses
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
2015
 
2014
 
2015
 
2014
Realized gains
$
672

 
$
80

 
$
1,064

 
$
300

Realized losses
(105
)
 
—

 
(143
)
 
(164
)
Net securities (losses)/gains
$
567

 
$
80

 
$
921

 
$
136

 
 
 
 
 
 
 
 
Gross unrealized losses and fair value of securities
The following table presents the gross unrealized losses and fair value of securities by length of time that individual securities had been in a continuous loss position by major categories of available-for-sale and held-to-maturity securities.
 
 
 
June 30, 2015
 
 
 
Less than 12 months
 
12 months or longer
 
Total
(Dollars in thousands)
 
Fair Value
 
Unrealized
Losses
 
Number Impaired
Securities
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired
Securities
 
Fair Value
 
Unrealized
Losses
Securities available-for-sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. states and political subdivisions
 
$
32,237

 
$
(587
)
 
52

 
$
5,642

 
$
(436
)
 
9

 
$
37,879

 
$
(1,023
)
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
196,219

 
(2,087
)
 
15
 
103,498

 
(2,476
)
 
8
 
299,717

 
(4,563
)
 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
96,573

 
(1,457
)
 
14
 
17,335

 
(690
)
 
2
 
113,908

 
(2,147
)
 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
596,646

 
(4,398
)
 
42
 
706,376

 
(19,910
)
 
53
 
1,303,022

 
(24,308
)
 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   U.S. government agencies
 
46,771

 
(71
)
 
5
 
61,120

 
(634
)
 
7
 
107,891

 
(705
)
 
Asset-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   Collateralized loan obligations
 
84,565

 
(1,204
)
 
10
 
86,082

 
(1,259
)
 
11
 
170,647

 
(2,463
)
 
Corporate debt securities
 
4,225

 
(765
)
 
1
 
49,225

 
(7,466
)
 
7
 
53,450

 
(8,231
)
 
Total securities available-for-sale
 
$
1,057,236

 
$
(10,569
)
 
139
 
$
1,029,278

 
$
(32,871
)
 
97
 
$
2,086,514

 
$
(43,440
)
Securities held-to-maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency debentures
 
$
—

 
$
—

 
—

 
$
24,677

 
$
(323
)
 
1
 
$
24,677

 
$
(323
)
 
U.S. states and political subdivisions
 
98,867

 
(1,872
)
 
112
 
4,430

 
(70
)
 
6
 
103,297

 
(1,942
)
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
83,112

 
(483
)
 
5
 
105,289

 
(2,457
)
 
6
 
188,401

 
(2,940
)
 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   U.S. government agencies
 
7,263

 
(41
)
 
1
 
9,430

 
(178
)
 
1
 
16,693

 
(219
)
 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   U.S. government agencies
 
111,360

 
(835
)
 
8
 
1,042,351

 
(34,190
)
 
56
 
1,153,711

 
(35,025
)
 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
 
5,025

 
(2
)
 
1
 
142,937

 
(4,521
)
 
13
 
147,962

 
(4,523
)
 
Total securities held-to-maturity
 
$
305,627

 
$
(3,233
)
 
127
 
$
1,329,114

 
$
(41,739
)
 
83
 
$
1,634,741

 
$
(44,972
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
December 31, 2014
 
 
 
Less than 12 months
 
12 months or longer
 
Total
(Dollars in thousands)
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired
Securities
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired Securities
 
Fair Value
 
Unrealized
Losses
Securities available-for-sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency debentures
 
$
2,482

 
$
(18
)
 
1

 
$
—

 
$
—

 
—

 
$
2,482

 
$
(18
)
 
U.S. states and political subdivisions
 
5,637

 
(11
)
 
11

 
22,528

 
(455
)
 
36

 
28,165

 
(466
)
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
50,126

 
(182
)
 
5

 
199,773

 
(3,036
)
 
14

 
249,899

 
(3,218
)
 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
12,284

 
(55
)
 
2

 
45,485

 
(1,316
)
 
6

 
57,769

 
(1,371
)
 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
243,970

 
(906
)
 
15

 
905,478

 
(25,319
)
 
64

 
1,149,448

 
(26,225
)
 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
 
31,375

 
(229
)
 
4

 
67,169

 
(1,176
)
 
7

 
98,544

 
(1,405
)
 
Asset-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Collateralized loan obligations
 
79,042

 
(1,406
)
 
15

 
193,687

 
(8,207
)
 
27

 
272,729

 
(9,613
)
 
Corporate debt securities
 
—

 
—

 
—

 
51,338

 
(10,315
)
 
8

 
51,338

 
(10,315
)
 
Total securities available-for-sale
 
$
424,916

 
$
(2,807
)
 
53

 
$
1,485,458

 
$
(49,824
)
 
162

 
$
1,910,374

 
$
(52,631
)
Securities held-to-maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency debentures
 
$
—

 
$
—

 
—

 
$
24,463

 
$
(537
)
 
1

 
$
24,463

 
$
(537
)
 
U.S. states and political subdivisions
 
9,085

 
(17
)
 
9

 
18,371

 
(174
)
 
21

 
27,456

 
(191
)
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
—

 
—

 
—

 
185,361

 
(3,045
)
 
10

 
185,361

 
(3,045
)
 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
9,950

 
(4
)
 
2

 
16,735

 
(325
)
 
2

 
26,685

 
(329
)
 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
28,333

 
(149
)
 
3

 
1,161,297

 
(38,726
)
 
58

 
1,189,630

 
(38,875
)
 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
41,474

 
(55
)
 
3

 
171,570

 
(6,713
)
 
16

 
213,044

 
(6,768
)
 
Corporate debt securities
 
36,933

 
(52
)
 
13

 
—

 
—

 
—

 
36,933

 
(52
)
 
Total securities held-to-maturity
 
$
125,775

 
$
(277
)
 
30

 
$
1,577,797

 
$
(49,520
)
 
108

 
$
1,703,572

 
$
(49,797
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
June 30, 2014
 
 
 
Less than 12 months
 
12 months or longer
 
Total
(Dollars in thousands)
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired
Securities
 
Fair Value
 
Unrealized
Losses
 
Number
Impaired
Securities
 
Fair Value
 
Unrealized
Losses
Securities available-for-sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. states and political subdivisions
 
$
10,988

 
$
(16
)
 
14

 
$
30,271

 
$
(1,007
)
 
50

 
$
41,259

 
$
(1,023
)
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
11,636

 
(3
)
 
1

 
259,470

 
(5,486
)
 
19

 
271,106

 
(5,489
)
 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
5,105

 
(4
)
 
1

 
45,739

 
(1,519
)
 
6

 
50,844

 
(1,523
)
 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
279,311

 
(2,358
)
 
19

 
904,821

 
(32,491
)
 
60

 
1,184,132

 
(34,849
)
 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
 
24,431

 
(97
)
 
1

 
43,212

 
(1,029
)
 
6

 
67,643

 
(1,126
)
 
Asset-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    Collateralized loan obligations
 
141,506

 
(2,568
)
 
19

 
81,749

 
(1,684
)
 
12

 
223,255

 
(4,252
)
 
Corporate debt securities
 
—

 
—

 
—

 
53,490

 
(8,134
)
 
8

 
53,490

 
(8,134
)
 
Total securities available-for-sale
 
$
472,977

 
$
(5,046
)
 
55

 
$
1,418,752

 
$
(51,350
)
 
161

 
$
1,891,729

 
$
(56,396
)
Securities held-to-maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agency debentures
 
$
—

 
$
—

 
—

 
$
24,293

 
$
(707
)
 
1

 
$
24,293

 
$
(707
)
 
    U.S. states and political subdivisions
 
59,958

 
(334
)
 
56

 
66,557

 
(919
)
 
90

 
126,515

 
(1,253
)
 
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
 
—

 
—

 
—

 
206,911

 
(4,933
)
 
11

 
206,911

 
(4,933
)
 
Commercial mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
—

 
—

 
—

 
23,977

 
(445
)
 
3

 
23,977

 
(445
)
 
Residential collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
 
127,284

 
(1,100
)
 
8

 
1,241,883

 
(53,163
)
 
60

 
1,369,167

 
(54,263
)
 
Commercial collateralized mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    U.S. government agencies
 
—

 
—

 
—

 
183,957

 
(7,252
)
 
17

 
183,957

 
(7,252
)
 
Corporate debt securities
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
Total securities held-to-maturity
 
$
187,242

 
$
(1,434
)
 
64

 
$
1,747,578

 
$
(67,419
)
 
182

 
$
1,934,820

 
$
(68,853
)