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AVAILABLE-FOR-SALE SECURITIES (Tables)
12 Months Ended
Dec. 31, 2013
AVAILABLE-FOR-SALE SECURITIES [Abstract]  
Amortized cost and estimated fair values of available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

 

 

Gross

 

Gross

 

Estimated

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

 

Cost

 

Gains

 

Losses

 

Value

 

 

(In thousands)

U.S. Government agencies

 

$   1,455,417

 

$        9,065

 

$        6,133

 

$   1,458,349

Government agency issued residential

 

 

 

 

 

 

 

 

mortgage-backed securities

 

249,682 

 

3,118 

 

2,566 

 

250,234 

Government agency issued commercial

 

 

 

 

 

 

 

 

mortgage-backed securities

 

239,313 

 

1,773 

 

10,174 

 

230,912 

Obligations of states and political subdivisions

 

509,255 

 

12,883 

 

2,733 

 

519,405 

Other

 

6,941 

 

1,148 

 

 -

 

8,089 

Total

 

$   2,460,608

 

$      27,987

 

$      21,606

 

$   2,466,989

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

 

 

 

Gross

 

Gross

 

Estimated

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

 

Cost

 

Gains

 

Losses

 

Value

 

 

(In thousands)

U.S. Government agencies

 

$   1,380,979

 

$      21,081

 

$             64

 

$   1,401,996

Government agency issued residential

 

 

 

 

 

 

 

 

mortgage-backed securities

 

358,677 

 

8,457 

 

259 

 

366,875 

Government agency issued commercial

 

 

 

 

 

 

 

 

mortgage-backed securities

 

87,314 

 

4,266 

 

135 

 

91,445 

Obligations of states and political subdivisions

 

531,940 

 

34,049 

 

116 

 

565,873 

Other

 

7,052 

 

791 

 

 -

 

7,843 

Total

 

$   2,365,962

 

$      68,644

 

$           574

 

$   2,434,032

 

 

 

 

 

 

 

 

 

 

 

Amortized cost and estimated fair value of available-for-sale securities by contractual maturity

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

Weighted

 

 

Amortized

 

Fair

 

Average

 

 

Cost

 

Value

 

Yield

 

 

(Dollars in thousands)

Maturing in one year or less

 

$      504,785

 

$      507,800

 

1.52 

%

Maturing after one year through five years

 

1,091,317 

 

1,093,947 

 

1.30 

 

Maturing after five years through ten years

 

160,222 

 

163,839 

 

5.71 

 

Maturing after ten years

 

215,289 

 

220,257 

 

5.86 

 

Mortgage-backed securities

 

488,995 

 

481,146 

 

2.15 

 

Total

 

$   2,460,608

 

$   2,466,989

 

 

 

 

Temporarily impaired available-for-sale securities with continuous unrealized loss positions

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

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

$        533,326 

 

$            6,133 

 

$                    - 

 

$                   - 

 

$         533,326 

 

$            6,133 

Government agency issued residential

 

 

 

 

 

 

 

 

 

 

 

mortgage-backed securities

106,179 

 

2,418 

 

4,407 

 

148 

 

110,586 

 

2,566 

Government agency issued commercial

 

 

 

 

 

 

 

 

 

 

 

mortgage-backed securities

176,253 

 

8,578 

 

27,225 

 

1,596 

 

203,478 

 

10,174 

Obligations of states and political subdivisions

97,543 

 

2,555 

 

3,663 

 

178 

 

101,206 

 

2,733 

Total

$        913,301 

 

$          19,684 

 

$           35,295 

 

$            1,922 

 

$         948,596 

 

$          21,606 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

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

$          47,395 

 

$                 64 

 

$                    - 

 

$                   - 

 

$           47,395 

 

$                 64 

Government agency issued residential

 

 

 

 

 

 

 

 

 

 

 

mortgage-backed securities

55,939 

 

145 

 

2,839 

 

114 

 

58,778 

 

259 

Government agency issued commercial

 

 

 

 

 

 

 

 

 

 

 

mortgage-backed securities

26,239 

 

135 

 

 -

 

 -

 

26,239 

 

135 

Obligations of states and political subdivisions

9,247 

 

73 

 

313 

 

43 

 

9,560 

 

116 

Total

$        138,820 

 

$               417 

 

$             3,152 

 

$               157 

 

$         141,972 

 

$               574