AVAILABLE-FOR-SALE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2011

A comparison of amortized cost and estimated fair values of available-for-sale securities as of December 31, 2011 and 2010 follows:

	2011
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
U.S. Government agencies	$	1,471,920	$	29,347	$	24	$	1,501,243
Government agency issued residential mortgage-backed securities		394,894		9,786		70		404,610
Government agency issued commercial mortgage-backed securities		31,161		3,438		-		34,599
Obligations of states and political subdivisions		541,138		22,705		323		563,520
Other		8,938		608		-		9,546
Total	$	2,448,051	$	65,884	$	417	$	2,513,518

	2010
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
U.S. Government agencies	$	416,005	$	17,153	$	-	$	433,158
Government agency issued residential mortgage-backed securities		498,874		5,954		1,599		503,229
Government agency issued commercial mortgage-backed securities		29,582		676		264		29,994
Obligations of states and political subdivisions		110,946		965		1,746		110,165
Other		18,943		573		-		19,516
Total	$	1,074,350	$	25,321	$	3,609	$	1,096,062

			Estimated		Weighted
	Amortized		Fair		Average
	Cost		Value		Yield
	(Dollars in thousands)
Maturing in one year or less	$	295,485	$	300,106		3.67	%
Maturing after one year through five years		1,582,442		1,615,207		2.01
Maturing after five years through ten years		113,105		117,764		4.37
Maturing after ten years		457,019		480,441		5.70
Total	$	2,448,051	$	2,513,518

A summary of temporarily impaired available-for-sale investments with continuous unrealized loss positions at December 31, 2011 and 2010 follows:

	2011
	Less Than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In thousands)
U.S. Government agencies	$	34,850	$	24	$	-	$	-	$	34,850	$	24
Government agency issued residential
mortgage-backed securities		-		-		3,751		70		3,751		70
Government agency issued commercial
mortgage-backed securities		-		-		-		-		-		-
Obligations of states and
political subdivisions		20,820		144		9,214		179		30,034		323
Other		-		-		-		-		-		-
Total	$	55,670	$	168	$	12,965	$	249	$	68,635	$	417

	2010
	Less Than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In thousands)
U.S. Government agencies	$	-	$	-	$	-	$	-	$	-	$	-
Government agency issued residential
mortgage-backed securities		184,820		1,599		-		-		184,820		1,599
Government agency issued commercial
mortgage-backed securities		7,843		177		3,996		87		11,839		264
Obligations of states and
political subdivisions		36,884		1,601		841		145		37,725		1,746
Other		-		-		-		-		-		-
Total	$	229,547	$	3,377	$	4,837	$	232	$	234,384	$	3,609