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Securities Available for Sale and Held to Maturity (Tables)
 9 Months Ended
Sep. 30, 2013
Securities Available for Sale and Held to Maturity [Abstract]  
Amortized cost and estimated fair value of available for sale and held to maturity securities
The following table is a summary of the amortized cost and estimated fair value of securities available for sale and held to maturity ($ in thousands):

 
Securities Available for Sale
Securities Held to Maturity
 
 
  
Gross
  
Gross
  
Estimated
  
  
Gross
  
Gross
  
Estimated
 
 
 
Amortized
  
Unrealized
  
Unrealized
  
Fair
  
Amortized
  
Unrealized
  
Unrealized
  
Fair
 
September 30, 2013
 
Cost
  
Gains
  
(Losses)
  
Value
  
Cost
  
Gains
  
(Losses)
  
Value
 
U.S. Treasury securities
 
$
503
  
$
-
  
$
-
  
$
503
  
$
-
  
$
-
  
$
-
  
$
-
 
U.S. Government agency obligations
                                
Issued by U.S. Government agencies
  
133,258
   
1,125
   
(1,370
)
  
133,013
   
-
   
-
   
-
   
-
 
Issued by U.S. Government sponsored agencies
  
138,937
   
24
   
(6,536
)
  
132,425
   
-
   
-
   
-
   
-
 
Obligations of states and political subdivisions
  
206,168
   
7,460
   
(637
)
  
212,991
   
30,229
   
2,974
   
-
   
33,203
 
Mortgage-backed securities
                                
Residential mortgage pass-through securities
                                
Guaranteed by GNMA
  
48,737
   
596
   
(1,093
)
  
48,240
   
2,420
   
158
   
-
   
2,578
 
Issued by FNMA and FHLMC
  
211,031
   
4,427
   
(663
)
  
214,795
   
564
   
35
   
-
   
599
 
Other residential mortgage-backed securities
                                
Issued or guaranteed by FNMA, FHLMC or GNMA
  
2,083,906
   
14,665
   
(50,296
)
  
2,048,275
   
-
   
-
   
-
   
-
 
Commercial mortgage-backed securities
                                
Issued or guaranteed by FNMA, FHLMC or GNMA
  
349,679
   
8,568
   
(4,116
)
  
354,131
   
36,767
   
114
   
(2,312
)
  
34,569
 
Asset-backed securities and structured financial products
  
225,621
   
2,119
   
(12
)
  
227,728
   
-
   
-
   
-
   
-
 
Total
 
$
3,397,840
  
$
38,984
  
$
(64,723
)
 
$
3,372,101
  
$
69,980
  
$
3,281
  
$
(2,312
)
 
$
70,949
 

December 31, 2012
 
  
  
  
  
  
  
  
 
U.S. Government agency obligations
 
  
  
  
  
  
  
  
 
Issued by U.S. Government agencies
 
$
10
  
$
-
  
$
-
  
$
10
  
$
-
  
$
-
  
$
-
  
$
-
 
Issued by U.S. Government sponsored agencies
  
105,396
   
339
   
-
   
105,735
   
-
   
-
   
-
   
-
 
Obligations of states and political subdivisions
  
202,877
   
12,900
   
(16
)
  
215,761
   
36,206
   
4,184
   
-
   
40,390
 
Mortgage-backed securities
                                
Residential mortgage pass-through securities
                                
Guaranteed by GNMA
  
18,981
   
921
   
-
   
19,902
   
3,245
   
227
   
-
   
3,472
 
Issued by FNMA and FHLMC
  
201,493
   
7,071
   
-
   
208,564
   
572
   
52
   
-
   
624
 
Other residential mortgage-backed securities
                                
Issued or guaranteed by FNMA, FHLMC or GNMA
  
1,436,812
   
29,574
   
(20
)
  
1,466,366
   
-
   
-
   
-
   
-
 
Commercial mortgage-backed securities
                                
Issued or guaranteed by FNMA, FHLMC or GNMA
  
380,514
   
19,420
   
(154
)
  
399,780
   
2,165
   
237
   
-
   
2,402
 
Asset-backed securities and structured financial products
  
238,893
   
2,755
   
(21
)
  
241,627
   
-
   
-
   
-
   
-
 
Total
 
$
2,584,976
  
$
72,980
  
$
(211
)
 
$
2,657,745
  
$
42,188
  
$
4,700
  
$
-
  
$
46,888
 
Securities with gross unrealized losses, segregated by length of impairment
The table below includes securities with gross unrealized losses segregated by length of impairment ($ in thousands):

 
 
Less than 12 Months
  
12 Months or More
  
Total
 
 
 
  
Gross
  
  
Gross
  
  
Gross
 
 
 
Estimated
  
Unrealized
  
Estimated
  
Unrealized
  
Estimated
  
Unrealized
 
September 30, 2013
 
Fair Value
  
(Losses)
  
Fair Value
  
(Losses)
  
Fair Value
  
(Losses)
 
U.S. Government agency obligations
 
  
  
  
  
  
 
Issued by U.S. Government agencies
 
$
60,939
  
$
(1,370
)
 
$
-
  
$
-
  
$
60,939
  
$
(1,370
)
Issued by U.S. Government sponsored agencies
  
132,140
   
(6,536
)
  
-
   
-
   
132,140
   
(6,536
)
Obligations of states and political subdivisions
  
27,414
   
(636
)
  
569
   
(1
)
  
27,983
   
(637
)
Mortgage-backed securities
                        
Residential mortgage pass-through securities
                        
Guaranteed by GNMA
  
36,322
   
(1,093
)
  
-
   
-
   
36,322
   
(1,093
)
Issued by FNMA and FHLMC
  
49,792
   
(663
)
  
-
   
-
   
49,792
   
(663
)
Other residential mortgage-backed securities
                        
Issued or guaranteed by FNMA, FHLMC or GNMA
  
1,352,905
   
(50,293
)
  
368
   
(3
)
  
1,353,273
   
(50,296
)
Commercial mortgage-backed securities
                        
Issued or guaranteed by FNMA, FHLMC, or GNMA
  
153,092
   
(6,428
)
  
-
   
-
   
153,092
   
(6,428
)
Asset-backed securities and structured financial products
  
16,513
   
(12
)
  
-
   
-
   
16,513
   
(12
)
Total
 
$
1,829,117
  
$
(67,031
)
 
$
937
  
$
(4
)
 
$
1,830,054
  
$
(67,035
)

December 31, 2012
 
  
  
  
  
  
 
Obligations of states and political subdivisions
 
$
5,878
  
$
(16
)
 
$
-
  
$
-
  
$
5,878
  
$
(16
)
Mortgage-backed securities
                        
Other residential mortgage-backed securities
                        
Issued or guaranteed by FNMA, FHLMC or GNMA
  
3,055
   
(20
)
  
-
   
-
   
3,055
   
(20
)
Commercial mortgage-backed securities
                        
Issued or guaranteed by FNMA, FHLMC or GNMA
  
-
   
-
   
16,339
   
(154
)
  
16,339
   
(154
)
Asset-backed securities and structured financial products
  
16,412
   
(21
)
  
-
   
-
   
16,412
   
(21
)
Total
 
$
25,345
  
$
(57
)
 
$
16,339
  
$
(154
)
 
$
41,684
  
$
(211
)
Gains and losses as a result of calls and disposition of securities
Gains and losses as a result of calls and dispositions of securities, as well as any associated proceeds, were as follows ($ in thousands):

 
 
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
Available for Sale
 
2013
  
2012
  
2013
  
2012
 
Proceeds from calls and sales of securities
 
$
-
  
$
2,710
  
$
64,778
  
$
37,536
 
Gross realized gains
  
-
   
-
   
394
   
1,050
 
Gross realized (losses)
  
-
   
(1
)
  
(16
)
  
(12
)
 
                
Held to Maturity
                
Proceeds from calls of securities
 
$
-
  
$
-
  
$
-
  
$
175
 
Gross realized gains
  
-
   
-
   
-
   
3
 
Contractual maturities of available for sale and held to maturity securities
The amortized cost and estimated fair value of securities available for sale and held to maturity at September 30, 2013, by contractual maturity, are shown below ($ in thousands).  Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

 
 
Securities
  
Securities
 
 
 
Available for Sale
  
Held to Maturity
 
 
 
  
Estimated
  
  
Estimated
 
 
 
Amortized
  
Fair
  
Amortized
  
Fair
 
 
 
Cost
  
Value
  
Cost
  
Value
 
Due in one year or less
 
$
10,080
  
$
10,142
  
$
1,627
  
$
1,650
 
Due after one year through five years
  
244,598
   
248,610
   
13,744
   
14,789
 
Due after five years through ten years
  
271,029
   
270,117
   
14,104
   
15,974
 
Due after ten years
  
178,780
   
177,791
   
754
   
790
 
 
  
704,487
   
706,660
   
30,229
   
33,203
 
Mortgage-backed securities
  
2,693,353
   
2,665,441
   
39,751
   
37,746
 
Total
 
$
3,397,840
  
$
3,372,101
  
$
69,980
  
$
70,949