Investment Securities (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2011

Jun. 30, 2010

Jun. 30, 2011

Amortized Cost And Fair Value Of Available-For-Sale And Held-To-Maturity Investment Securities Portfolio


		Amortized Unrealized				Unrealized			Fair
(dollars in thousands)		Cost		Gains		Losses			Value
June 30, 2011
Available-for-sale
U.S. Treasury	$	62,331	$	415	$	0		$	62,746
U.S. Government-sponsored entities and agencies		384,508		2,811		(108	)		387,211
Mortgage-backed securities - Agency		1,075,830		28,372		(113	)		1,104,089
Mortgage-backed securities - Non-agency		105,533		740		(2,738	)		103,535
States and political subdivisions		353,949		15,112		(640	)		368,421
Pooled trust preferrred securities		27,349		0		(17,611	)		9,738
Other securities		158,582		9,450		(917	)		167,115
Total available-for-sale securities	$	2,168,082	$	56,900	$	(22,127	)	$	2,202,855
Held-to-maturity
U.S. Government-sponsored entities and agencies	$	245,301	$	5,092	$	(85	)	$	250,308
Mortgage-backed securities - Agency		98,374		3,424		0			101,798
States and political subdivisions		216,894		1,249		(3,199	)		214,944
Other securities		7,139		0		(15	)		7,124
Total held-to-maturity securities	$	567,708	$	9,765	$	(3,299	)	$	574,174
December 31, 2010
Available-for-sale
U.S. Treasury	$	62,206	$	371	$	(27	)	$	62,550
U.S. Government-sponsored entities and agencies		315,922		1,612		(2,401	)		315,133
Mortgage-backed securities - Agency		922,005		22,926		(485	)		944,446
Mortgage-backed securities - Non-agency		134,168		1,018		(8,380	)		126,806
States and political subdivisions		343,970		7,503		(2,549	)		348,924
Pooled trust preferrred securities		27,368		0		(18,968	)		8,400
Other securities		148,203		7,816		(2,056	)		153,963
Total available-for-sale securities	$	1,953,842	$	41,246	$	(34,866	)	$	1,960,222
Held-to-maturity
U.S. Government-sponsored entities and agencies	$	303,265	$	2,247	$	(3,703	)	$	301,809
Mortgage-backed securities - Agency		117,013		2,577		(510	)		119,080
States and political subdivisions		217,381		1		(13,003	)		204,379
Other securities		551		0		(176	)		375
Total held-to-maturity securities	$	638,210	$	4,825	$	(17,392	)	$	625,643

Expected Maturities Of Investment Securities Portfolio


		June 30, 2011			Weighted
(dollars in thousands)		Amortized		Fair	Average
Maturity		Cost		Value	Yield
Available-for-sale
Within one year	$	136,577	$	138,767	2.91	%
One to five years		1,187,875		1,216,749	2.75
Five to ten years		244,519		253,300	3.70
Beyond ten years		599,111		594,039	4.32
Total	$	2,168,082	$	2,202,855	3.30	%

Held-to-maturity
Within one year	$	4,200	$	4,185	1.52	%
One to five years		103,160		106,603	3.59
Five to ten years		12,519		12,767	4.05
Beyond ten years		447,829		450,619	3.91
Total	$	567,708	$	574,174	3.84	%

Investment Securities With Unrealized Losses By Aggregated Major Security Type And Length Of Time In A Continuous Unrealized Loss Position


		Less than 12 months						12 months or longer							Total
		Fair Unrealized						Fair Unrealized							Fair Unrealized
(dollars in thousands)		Value		Losses				Value				Losses			Value		Losses
June 30, 2011
Available-for-Sale
U.S. Government-sponsored entities
and agencies	$	5,559	$	(108	)	$		0		$		0		$	5,559	$	(108	)
Mortgage-backed securities - Agency		76,559		(113	)			66				0			76,625		(113	)
Mortgage-backed securities - Non-agency		5,545		(33	)			64,347				(2,705	)		69,892		(2,738	)
States and political subdivisions		25,092		(640	)			0				0			25,092		(640	)
Pooled trust preferrred securities		0		0				9,738		(17,611			)		9,738		(17,611	)
Other securities		540		(2	)			7,139				(915	)		7,679		(917	)
Total available-for-sale	$	113,295	$	(896	)	$		81,290	$	(21,231			)	$	194,585	$	(22,127	)

Held-to-Maturity
U.S. Government-sponsored entities
and agencies	$	114,336	$	(85	)	$		0		$		0		$	114,336	$	(85	)
States and political subdivisions		129,931		(3,199	)			0				0			129,931		(3,199	)
Other securities		0		0				145				(15	)		145		(15	)
Total held-to-maturity	$	244,267	$	(3,284	)		$	145			$	(15	)	$	244,412	$	(3,299	)

December 31, 2010
Available-for-Sale
U.S. Treasury	$	10,944	$	(27	)	$		0		$		0		$	10,944	$	(27	)
U.S. Government-sponsored entities
and agencies		120,404		(2,401	)			0				0			120,404		(2,401	)
Mortgage-backed securities - Agency		160,784		(485	)			483				0			161,267		(485	)
Mortgage-backed securities - Non-agency		13,265		(1,696	)			79,327				(6,684	)		92,592		(8,380	)
States and political subdivisions		94,448		(2,549	)			0				0			94,448		(2,549	)
Pooled trust preferrred securities		0		0				8,400		(18,968			)		8,400		(18,968	)
Other securities		12,283		(206	)			6,204				(1,850	)		18,487		(2,056	)
Total available-for-sale	$	412,128	$	(7,364	)	$		94,414	$	(27,502			)	$	506,542	$	(34,866	)

Held-to-Maturity
U.S. Government-sponsored entities
and agencies	$	111,975	$	(3,703	)		$	0			$	0		$	111,975	$	(3,703	)
Mortgage-backed securities - Agency		67,837		(510	)			0				0			67,837		(510	)
States and political subdivisions		203,093		(13,003	)			0				0			203,093		(13,003	)
Other securities		0		0				375				(176	)		375		(176	)
Total held-to-maturity	$	382,905	$	(17,216	)		$	375			$	(176	)	$	383,280	$	(17,392	)

Pooled Trust Preferred Securities



Trust preferred securities															Actual		Expected		Excess
June 30, 2011															Deferrals and		Defaults as		Subordination
(Dollars in Thousands)														# of Issuers	Defaults as a		a % of		as a %
				Lowest						Unrealized Realized				Currently	Percent of		Remaining		of Current
				Credit Amortized				Fair		Gain/		Losses		Performing/	Original		Performing		Performing
		Class Rating (1)				Cost		Value		(Loss)		2011		Remaining	Collateral		Collateral		Collateral
Pooled trust preferred securities:
TROPC 2003-1A		A4	L	C	$	978	$	641	$	(337	)	$	0	19/39	40.1	%	15.3	%	0.0	%
MM Community Funding IX	B	-2		C		2,081		1,094		(987	)		0	20/33	34.4	%	14.4	%	0.0	%
Reg Div Funding 2004	B	-2		D		4,208		795		(3,413	)		0	25/45	43.1	%	12.4	%	0.0	%
Pretsl XII	B	-1		C		2,886		1,693		(1,193	)		0	50/77	30.4	%	6.7	%	0.0	%
Pretsl XV	B	-1		C		1,695		608		(1,087	)		0	51/72	35.4	%	10.0	%	0.0	%
Reg Div Funding 2005	B	-1		C		311		114		(197	)		0	22/49	51.3	%	30.9	%	0.0	%
MM Community Funding II		B		BB		979		947		(32	)		0	5/8	4.7	%	0.0	%	26.9	%
Pretsl XXVII LTD		B		CC		4,823		1,154		(3,669	)		0	33/49	28.1	%	23.7	%	23.6	%
Trapeza Ser 13A		A2	A	CCC-		9,388		2,692		(6,696	)		0	36/56	29.2	%	22.6	%	34.2	%
						27,349		9,738		(17,611	)		0
Single Issuer trust preferred securities:
First Empire Cap (M&T)				BBB-		955		1,021		66			0
First Empire Cap (M&T)				BBB-		2,903		3,062		159			0
Fleet Cap Tr V (BOA)				BB+		3,354		2,873		(481	)		0
JP Morgan Chase Cap XIII				BBB+		4,708		4,266		(442	)		0
						11,920		11,222		(698	)		0

Total					$	39,269	$	20,960	$	(18,309	)	$	0

Securities With Other-Than-Temporary Impairment


						Amount of other-than-temporary
						impairment recognized in earnings
		Lowest				Three months		Six months
		Credit		Amortized		ended		ended
	Vintage	Rating (1)		Cost		June 30, 2011		June 30, 2011
Non-agency mortgage-backed securities:
FHASI Ser 4	2007	CC	$	21,098	$	138	$	340
HALO Ser 1R	2006	B		15,640		16		16
RFMSI Ser S10	2006	CC		4,217		46		143
			$	40,955		200		499
Total other-than-temporary-
impairment recognized in earnings					$	200	$	499

Securities With Other-Than-Temporary Impairment, Cumulative Other-Than-Temporary Impairment


						Amount of other-than-temporary
						impairment recognized in earnings
		Lowest				Six months		Twelve months ended
		Credit		Amortized		June 30,		December 31,			Life	-to
	Vintage Rating (1)			Cost		2011		2010		2009		date
Non-agency mortgage-backed securities:
BAFC Ser 4	2007	CCC	$	14,026	$	0	$	79	$	63	$	142
CWALT Ser 73CB	2005	CCC		4,428		0		207		83		290
CWALT Ser 73CB	2005	CCC		5,388		0		427		182		609
CWHL 2006-10 (3)	2006					0		309		762		1,071
CWHL 2005-20	2005	B-		6,376		0		39		72		111
FHASI Ser 4	2007	CC		21,098		340		629		223		1,192
HALO Ser 1R	2006	B		15,640		16		0		0		16
RFMSI Ser S9 (2)	2006					0		923		1,880		2,803
RFMSI Ser S10	2006	CC		4,217		143		76		249		468
RALI QS2 (2)	2006					0		278		739		1,017
RFMSI S1	2006	CCC		3,351		0		30		176		206
				74,524		499		2,997		4,429		7,925
Pooled trust preferred securities:
TROPC	2003	C		978		0		444		3,517		3,961
MM Community Funding IX	2003	C		2,081		0		165		2,612		2,777
Reg Div Funding	2004	D		4,208		0		321		5,199		5,520
Pretsl XII	2003	C		2,886		0		0		1,897		1,897
Pretsl XV	2004	C		1,695		0		0		3,374		3,374
Reg Div Funding	2005	C		311		0		0		3,767		3,767
				12,159		0		930		20,366		21,296
Total other-than-temporary-
impairment recognized in earnings					$	499	$	3,927	$	24,795	$	29,221


						Amount of other-than-temporary
						impairment recognized in earnings
		Lowest				Three months		Six months
		Credit		Amortized		ended		ended
	Vintage	Rating (1)		Cost		June 30, 2010		June 30, 2010
Non-agency mortgage-backed securities:
BAFC Ser 4	2007	CCC	$	14,026	$	79	$	79
CWALT Ser 73CB	2005	CCC		6,606		150		207
CWALT Ser 73CB	2005	CCC		8,353		324		427
CWHL 2006-10	2006	CC		10,030		105		309
CWHL 2005-20	2005	B-		10,987		7		39
FHASI Ser 4	2007	CCC		21,654		592		592
RFMSI Ser S9	2006	CC		32,070		923		923
RFMSI Ser S10	2006	CCC		4,362		74		74
RALI QS2	2006	CC		6,968		199		278
RFMSI S1	2006	CCC		5,767		0		30
				120,823		2,453		2,958
Pooled trust preferred securities:
TROPC	2003	C		2,116		165		165
MM Community Funding IX	2003	C		1,287		146		146
				3,403		311		311
Total other-than-temporary-
impairment recognized in earnings					$	2,764	$	3,269