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

6 Months Ended

9 Months Ended

Jun. 30, 2011

Sep. 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


Septemeber 30, 2011
		Amortized cost			Gross unrealized gains ⁽¹⁾			Gross unrealized losses ⁽¹⁾			Estimated fair value
Available-for-sale
U.S. Government Securities		$	905		$	0		$	(1	)	$	904
State and municipal securities			79,714			4,490			(192	)		84,012
Mortgage-backed securities:
Agency			495,524			12,021			(637	)		506,767
Commercial			266,643			1,102			(1,820	)		265,925
Non-agency			19,125			117			(985	)		18,257
Corporate fixed income securities			412,433			1,834			(4,450	)		409,817
Asset-backed securities			26,677			553			(128	)		27,102
		$	1,301,021		$	20,117		$	(8,354	)	$	1,312,784
Held-to-maturity ⁽²⁾
Corporate fixed income securities		$	55,569		$	55		$	(2,206	)	$	53,418
Asset-backed securities			82,224			2,734			(3,235	)		81,723
Municipal auction rate securities			21,339			955			(350	)		21,944
		$	159,132		$	3,744		$	(5,791	)	$	157,085

		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/(loss).

⁽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


		September 30, 2011
		Available-for-sale						Held-to-maturity
		Amortized cost			Estimated fair value			Amortized cost			Estimated fair value
Debt securities
Within one year		$	30,183		$	30,579		$	0		$	0
After one year through three years			233,280			232,661			0			0
After three years through five years			153,110			150,672			15,118			14,301
After five years through ten years			10,529			11,169			66,203			64,441
After ten years			92,627			96,754			77,811			78,343

Mortgage-backed securities
After three years through five years			9,641			10,020			0			0
After five years through ten years			13,825			13,971			0			0
After ten years			757,826			766,958			0			0
		$	1,301,021		$	1,312,784		$	159,132		$	157,085

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
U.S. Government Securities		$	(1	)		251		$	0		$	0		$	(1	)	$	251
State and municipal securities			(192	)		17,092			0			0			(192	)		17,092
Mortgage-backed securities:
Agency			(778	)		202,452			0			0			(778	)		202,452
Commercial			(1,820	)		187,206			0			0			(1,820	)		187,206
Non-agency			(475	)		6,140			(510	)		7,352			(985	)		13,492
Corporate fixed income securities			(4,450	)		263,046			0			0			(4,450	)		263,046
Asset-backed securities			(128	)		15,727			0			0			(128	)		15,727
		$	(7,844	)	$	691,914		$	(510	)	$	7,352		$	(8,354	)	$	699,266