Investment Securities (Tables)

3 Months Ended

Mar. 31, 2012

Investment Securities [Abstract]

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
March 31, 2012
Available-for-sale
U.S. Treasury	$	65,182	$	314	$	0		$	65,496
U.S. Government-sponsored entities and agencies		276,642		1,269		(1,909	)		276,002
Mortgage-backed securities - Agency		1,181,418		31,806		(113	)		1,213,111
Mortgage-backed securities - Non-agency		84,163		617		(2,115	)		82,665
States and political subdivisions		422,497		28,162		(1,576	)		449,083
Pooled trust preferrred securities		25,465		0		(17,668	)		7,797
Other securities		150,622		9,241		(1,835	)		158,028
Total available-for-sale securities	$	2,205,989	$	71,409	$	(25,216	)	$	2,252,182
Held-to-maturity
U.S. Government-sponsored entities and agencies	$	176,366	$	9,848	$	0		$	186,214
Mortgage-backed securities - Agency		76,925		3,031		0			79,956
States and political subdivisions		216,089		11,163		(63	)		227,189
Other securities		2,997		0		0			2,997
Total held-to-maturity securities	$	472,377	$	24,042	$	(63	)	$	496,356
December 31, 2011
Available-for-sale
U.S. Treasury	$	65,221	$	548	$	0		$	65,769
U.S. Government-sponsored entities and agencies		171,629		1,621		(65	)		173,185
Mortgage-backed securities - Agency		1,153,629		28,687		(61	)		1,182,255
Mortgage-backed securities - Non-agency		90,355		418		(4,873	)		85,900
States and political subdivisions		376,609		26,428		(193	)		402,844
Pooled trust preferrred securities		25,461		0		(18,134	)		7,327
Other securities		147,897		8,365		(2,266	)		153,996
Total available-for-sale securities	$	2,030,801	$	66,067	$	(25,592	)	$	2,071,276
Held-to-maturity
U.S. Government-sponsored entities and agencies	$	177,159	$	11,434	$	0		$	188,593
Mortgage-backed securities - Agency		84,075		3,305		0			87,380
States and political subdivisions		216,345		8,548		(176	)		224,717
Other securities		7,011		0		(2	)		7,009
Total held-to-maturity securities	$	484,590	$	23,287	$	(178	)	$	507,699

Expected Maturities Of Investment Securities Portfolio

	March 31, 2012				Weighted
(dollars in thousands)	Amortized		Fair		Average
Maturity	Cost		Value		Yield
Available-for-sale
Within one year	$	83,163	$	83,581	1.82	%
One to five years		114,548		119,593	3.35
Five to ten years		348,768		360,675	3.34
Beyond ten years		1,659,510		1,688,333	3.36
Total	$	2,205,989	$	2,252,182	3.30	%
Held-to-maturity
Within one year	$	3,049	$	3,049	2.27	%
One to five years		2,350		2,410	3.29
Five to ten years		148,411		154,819	2.95
Beyond ten years		318,567		336,078	4.48
Total	$	472,377	$	496,356	3.98	%

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
March 31, 2012
Available-for-Sale
U.S. Government-sponsored entities and agencies	$	155,753	$	(1,909	)	$	0	$	0		$	155,753	$	(1,909	)
Mortgage-backed securities - Agency		63,492		(113	)		0		0			63,492		(113	)
Mortgage-backed securities - Non-agency		26,983		(1,714	)		23,867		(401	)		50,850		(2,115	)
States and political subdivisions		41,115		(1,541	)		1,349		(35	)		42,464		(1,576	)
Pooled trust preferrred securities		0		0			7,797		(17,668	)		7,797		(17,668	)
Other securities		4,082		(32	)		6,273		(1,803	)		10,355		(1,835	)
Total available-for-sale	$	291,425	$	(5,309	)	$	39,286	$	(19,907	)	$	330,711	$	(25,216	)
Held-to-Maturity
States and political subdivisions	$	3,618	$	(63	)	$	52	$	0		$	3,670	$	(63	)
Total held-to-maturity	$	3,618	$	(63	)	$	52	$	0		$	3,670	$	(63	)
December 31, 2011
Available-for-Sale
U.S. Government-sponsored entities
and agencies	$	24,935	$	(65	)	$	0	$	0		$	24,935	$	(65	)
Mortgage-backed securities - Agency		49,016		(61	)		3		0			49,019		(61	)
Mortgage-backed securities - Non-agency		10,053		(353	)		59,203		(4,520	)		69,256		(4,873	)
States and political subdivisions		9,281		(114	)		1,345		(79	)		10,626		(193	)
Pooled trust preferrred securities		0		0			7,327		(18,134	)		7,327		(18,134	)
Other securities		4,516		(141	)		6,218		(2,125	)		10,734		(2,266	)
Total available-for-sale	$	97,801	$	(734	)	$	74,096	$	(24,858	)	$	171,897	$	(25,592	)
Held-to-Maturity
States and political subdivisions	$	1,613	$	(1	)	$	13,180	$	(175	)	$	14,793	$	(176	)
Other securities		22		(2	)		0		0			22		(2	)
Total held-to-maturity	$	1,635	$	(3	)	$	13,180	$	(175	)	$	14,815	$	(178	)

Pooled Trust Preferred Securities

Trust preferred securities													Actual		Expected		Excess
March 31, 2012													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)			2012	Remaining	Collateral		Collateral		Collateral
Pooled trust preferred securities:
TROPC 2003-1A	A4L	C	$	87	$	35	$	(52	)	$	0	15/36	41.7	%	23.7	%	0.0	%
MM Community Funding IX	B-2	D		2,067		906		(1,161	)		0	16/31	41.1	%	8.4	%	0.0	%
Reg Div Funding 2004	B-2	D		4,177		781		(3,396	)		0	25/45	44.9	%	6.5	%	0.0	%
Pretsl XII	B-1	C		2,871		1,586		(1,285	)		0	50/76	28.3	%	6.8	%	0.0	%
Pretsl XV	B-1	C		1,695		1,094		(601	)		0	49/72	36.0	%	6.4	%	0.0	%
Reg Div Funding 2005	B-1	C		311		22		(289	)		0	18/48	55.9	%	31.6	%	0.0	%
Pretsl XXVII LTD	B	CC		4,863		1,229		(3,634	)		0	33/49	28.1	%	1.3	%	35.8	%
Trapeza Ser 13A	A2A	CCC-		9,394		2,144		(7,250	)		0	44/54	28.4	%	4.4	%	40.7	%
				25,465		7,797		(17,668	)		0
Single Issuer trust preferred securities:
First Empire Cap (M&T)		BB+		956		991		35			0
First Empire Cap (M&T)		BB+		2,906		2,974		68			0
Fleet Cap Tr V (BOA)		BB		3,360		2,486		(874	)		0
JP Morgan Chase Cap XIII		BBB		4,716		3,787		(929	)		0
				11,938		10,238		(1,700	)		0
Total			$	37,403	$	18,035	$	(19,368	)	$	0

(1) Lowest rating for the security provided by any nationally recognized credit rating agency.

Securities With Other-Than-Temporary-Impairment

						Amount of other-than-
						temporary-impairment
		Lowest				recognized in earnings
		Credit		Amortized		for the three months
	Vintage	Rating (1)		Cost		ended March 31, 2012
Non-agency mortgage-backed securities:
BAFC Ser 4	2007	CCC	$	13,754	$	76
HALO Ser 1R	2006	B		15,636		4
RFMSI Ser S10	2006	D		3,762		16
			$	33,152		96
Total other-than-temporary-
impairment recognized in earnings					$	96

(1) Lowest rating for the security provided by any nationally recognized credit rating agency.

The following table details all securities with other-than-temporary-impairment, their credit rating at March 31, 2011 and the related credit losses recognized in earnings:

						Amount of other-than-
						temporary-impairment
		Lowest				recognized in earnings
		Credit		Amortized		for the three months
	Vintage	Rating (1)		Cost		ended March 31, 2011
Non-agency mortgage-backed securities:
FHASI Ser 4	2007	CC	$	21,415	$	202
RFMSI Ser S10	2006	CC		4,263		97
			$	25,678		299
Total other-than-temporary-
impairment recognized in earnings					$	299

(1) Lowest rating for the security provided by any nationally recognized credit rating agency.

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

					Amount of other-than-temporary impairment recognized in earnings
		Lowest				Three Months
		Credit		Amortized		March 31,		Year ended December 31,					Life-to
	Vintage	Rating (1)		Cost		2012		2011		2010		2009	date
Non-agency mortgage-backed securities:
BAFC Ser 4	2007	CCC	$	13,754	$	76	$	0	$	79	$	63	$	218
CWALT Ser 73CB	2005	CC		2,963		0		0		207		83		290
CWALT Ser 73CB	2005	CC		4,087		0		0		427		182		609
CWHL 2006-10 (3)	2006					0		0		309		762		1,071
CWHL 2005-20	2005	CC		3,168		0		0		39		72		111
FHASI Ser 4	2007	C		17,885		0		340		629		223		1,192
HALO Ser 1R	2006	B		15,636		4		16		0		0		20
RFMSI Ser S9 (2)	2006					0		0		923		1,880		2,803
RFMSI Ser S10	2006	D		3,762		16		165		76		249		506
RALI QS2 (2)	2006					0		0		278		739		1,017
RFMSI S1	2006	CC		1,896		0		0		30		176		206
				63,151		96		521		2,997		4,429		8,043
Pooled trust preferred securities:
TROPC	2003	C		87		0		888		444		3,517		4,849
MM Community Funding IX	2003	D		2,067		0		0		165		2,612		2,777
Reg Div Funding	2004	D		4,177		0		0		321		5,199		5,520
Pretsl XII	2003	C		2,871		0		0		0		1,897		1,897
Pretsl XV	2004	C		1,695		0		0		0		3,374		3,374
Reg Div Funding	2005	C		311		0		0		0		3,767		3,767
				11,208		0		888		930		20,366		22,184
Total other-than-temporary- impairment recognized in earnings					$	96	$	1,409	$	3,927	$	24,795	$	30,227

(1) Lowest rating for the security provided by any nationally recognized credit rating agency.

(2) Sold during fourth quarter 2010.

(3) Sold during first quarter 2011.