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Available-for-Sale and Held-to-Maturity Securities (Tables)

6 Months Ended

Jun. 30, 2011

Available-for-Sale and Held-to-Maturity Securities

Schedule of Amortized Cost and Fair Values of the Available for Sale Securities and Held to Maturity Securities

June 30, 2011
		Amortized cost			Gross unrealized gains ⁽¹⁾			Gross unrealized losses ⁽¹⁾			Estimated fair value
Available-for-sale
State and municipal securities		$	57,750		$	3,029		$	(554	)	$	60,225
Mortgage-backed securities:
Agency			560,400			12,887			(637	)		572,650
Commercial			149,497			1,318			(668	)		150,147
Non-agency			24,539			591			(822	)		24,308
Corporate fixed income securities			237,340			2,425			(770	)		238,995
Asset-backed securities			27,341			628			(180	)		27,789
		$	1,056,867		$	20,878		$	(3,631	)	$	1,074,114
Held-to-maturity ⁽²⁾
Corporate fixed income securities		$	55,593		$	0		$	0		$	55,593
Asset-backed securities			29,501			648			(2,775	)		27,374
Municipal auction rate securities			18,642			1,023			0			19,665
		$	103,736		$	1,671		$	(2,775	)	$	102,632

		December 31, 2010
		Amortized cost			Gross unrealized gains ⁽¹⁾			Gross unrealized losses ⁽¹⁾			Estimated fair value
Available-for-sale
U.S. government securities		$	24,972		$	58		$	0		$	25,030
State and municipal securities			26,678			727			(1,062	)		26,343
Mortgage-backed securities:
Agency			692,922			6,938			(2,697	)		697,163
Commercial			66,912			1,212			(128	)		67,996
Non-agency			29,319			744			(790	)		29,273
Corporate fixed income securities			153,523			1,705			(327	)		154,901
Asset-backed securities			11,331			677			0			12,008
		$	1,005,657		$	12,061		$	(5,004	)	$	1,012,714
Held-to-maturity ⁽²⁾
Municipal auction rate securities		$	43,719		$	3,803		$	(171	)	$	47,351
Asset-backed securities			8,921			198			(3,486	)		5,633
		$	52,640		$	4,001		$	(3,657	)	$	52,984

⁽¹⁾Unrealized gains/(losses) related to available-for-sale securities are reported in accumulated other comprehensive income.

⁽²⁾Held-to-maturity securities are carried in the consolidated statements of financial condition at amortized cost, and the changes in the value of these securities, other than impairment charges, are not reported on the consolidated financial statements.

Schedule of Amortized Cost and Fair Values of Debt Securities by Contractual Maturity


		June 30, 2011
		Available-for-sale						Held-to-maturity
		Amortized cost			Estimated fair value			Amortized cost			Estimated fair value
Debt securities
Within one year		$	20,956		$	21,529		$	0		$	0
After one year through three years			147,047			148,503			0			0
After three years through five years			73,238			72,788			15,126			15,126
After five years through ten years			10,485			11,204			50,068			50,068
After ten years			70,705			72,985			38,542			37,438

Mortgage-backed securities
After three years through five years			9,698			10,051			0			0
After five years through ten years			75,658			76,098			0			0
After ten years			649,080			660,956			0			0
		$	1,056,867		$	1,074,114		$	103,736		$	102,632

Schedule of Gross Unrealized Losses and the Estimated Fair Value by Length of Time



		Less than 12 months						12 months or more						Total
		Gross unrealized losses			Estimated fair value			Gross unrealized losses			Estimated fair value			Gross unrealized losses			Estimated fair value
Available-for-sale
State and municipal securities		$	(554	)	$	17,196		$	0		$	0		$	(554	)	$	17,196
Mortgage-backed securities:
Agency			(637	)		42,659			0			0			(637	)		42,659
Commercial			(668	)		48,933			0			0			(668	)		48,933
Non-agency			(216	)		6,795			(606	)		8,396			(822	)		15,191
Corporate fixed income securities			(770	)		54,745			0			0			(770	)		54,745
Asset-backed securities			(180	)		11,461			0			0			(180	)		11,461
		$	(3,025	)	$	181,789		$	(606	)	$	8,396		$	(3,631	)	$	190,185