Securities (Tables)

3 Months Ended

Mar. 31, 2014

Amortized Cost and Fair Value of Available for Sale Securities

The amortized cost and fair value of securities classified as available for sale and held to maturity follow (in thousands):

Securitites Available for Sale

	March 31, 2014								December 31, 2013
			Gross		Gross						Gross		Gross
	Amortized		Unrealized		Unrealized		Fair		Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
US Treasury and government agency securities	$	417	$	1	$	1	$	417	$	504	$	2	$	1	$	505
Municipal obligations		23,148		204		7		23,345		35,809		177		25		35,961
Mortgage-backed securities		1,222,626		25,017		6,446		1,241,197		1,262,633		24,402		10,077		1,276,958
CMOs		94,941		—		2,056		92,885		96,369		—		2,244		94,125
Corporate debt securities		3,500		—		—		3,500		3,500		—		—		3,500
Equity securities		8,810		795		1		9,604		9,965		785		27		10,723
	$	1,353,442	$	26,017	$	8,511	$	1,370,948	$	1,408,780	$	25,366	$	12,374	$	1,421,772

Amortized Cost and Fair Value of Held to Maturity Securities

Securitites Held to Maturity

	March 31, 2014								December 31, 2013
			Gross		Gross						Gross		Gross
	Amortized		Unrealized		Unrealized		Fair		Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
US Treasury and government agency securities	$	—	$	—	$	—	$	—	$	100,000	$	316	$	—	$	100,316
Municipal obligations		184,854		1,569		3,302		183,121		193,189		919		6,436		187,672
Mortgage-backed securities		980,154		9,467		2,601		987,020		1,003,327		296		4,671		998,952
CMOs		1,261,927		3,717		17,906		1,247,738		1,314,836		1,062		26,254		1,289,644
	$	2,426,935	$	14,753	$	23,809	$	2,417,879	$	2,611,352	$	2,593	$	37,361	$	2,576,584

Available for Sale Securities Unrealized Losses

The details for securities classified as available for sale with unrealized losses for the periods indicated follow (in thousands):

March 31, 2014	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
US Treasury and government agency securities	$	191	$	—	$	51	$	1	$	242	$	1
Municipal obligations		2,993		7		—		—		2,993		7
Mortgage-backed securities		244,366		2,766		69,932		3,680		314,298		6,446
CMOs		50,029		691		42,856		1,365		92,885		2,056
Equity securities		—		—		3		1		3		1
	$	297,579	$	3,464	$	112,842	$	5,047	$	410,421	$	8,511
December 31, 2013	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
US Treasury and government agency securities	$	205	$	1	$	—	$	—	$	205	$	1
Municipal obligations		7,975		25		—		—		7,975		25
Mortgage-backed securities		376,350		7,164		49,061		2,913		425,411		10,077
CMOs		94,125		2,244		—		—		94,125		2,244
Equity securities		3,282		26		3		1		3,285		27
	$	481,937	$	9,460	$	49,064	$	2,914	$	531,001	$	12,374

Held to Maturity with Unrealized Losses

The details for securities classified as held to maturity with unrealized losses for the periods indicated follow (in thousands):

March 31, 2014	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
Municpal obligations	$	85,568	$	2,995	$	9,672	$	307	$	95,240	$	3,302
Mortgage-backed securities		137,744		2,601		—		—		137,744		2,601
CMOs		736,954		17,173		150,843		733		887,797		17,906
	$	960,266	$	22,769	$	160,515	$	1,040	$	1,120,781	$	23,809
December 31, 2013	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
Municpal obligations	$	131,499	$	6,311	$	2,878	$	125	$	134,377	$	6,436
Mortgage-backed securities		950,288		4,671		—		—		950,288		4,671
CMOs		947,061		25,088		175,633		1,166		1,122,694		26,254
	$	2,028,848	$	36,070	$	178,511	$	1,291	$	2,207,359	$	37,361

Available for Sale Securities [Member]

Amortized Cost and Fair Value of Available for Sale Securities by Final Contractual Maturity

The following table presents the amortized cost and fair value of debt securities at March 31, 2014 by contractual maturity (in thousands). Actual maturities will differ from contractual maturities because of rights to call or repay obligations with or without penalties and scheduled and unscheduled principal payments on mortgage-backed securities and CMOs.

	Amortized		Fair
	Cost		Value
Debt Securities Available for Sale
Due in one year or less	$	13,570	$	13,628
Due after one year through five years		168,554		167,997
Due after five years through ten years		133,410		139,280
Due after ten years		1,029,098		1,040,439
Total available for sale debt securities	$	1,344,632	$	1,361,344

Held to Maturity Securities Transferred from AFS [Member]

Amortized Cost and Fair Value of Available for Sale Securities by Final Contractual Maturity

	Amortized		Fair
	Cost		Value
Debt Securities Held to Maturity
Due in one year or less	$	4,736	$	4,764
Due after one year through five years		651,155		636,445
Due after five years through ten years		126,510		124,267
Due after ten years		1,644,534		1,652,403
Total held to maturity securities	$	2,426,935	$	2,417,879