Securities (Tables)

6 Months Ended

Jun. 30, 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

	June 30, 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	$	283	$	—	$	1	$	282	$	504	$	2	$	1	$	505
Municipal obligations		20,539		298		—		20,837		35,809		177		25		35,961
Mortgage-backed securities		1,179,186		33,044		4,105		1,208,125		1,262,633		24,402		10,077		1,276,958
CMOs		92,669		—		1,721		90,948		96,369		—		2,244		94,125
Corporate debt securities		3,500		—		—		3,500		3,500		—		—		3,500
Equity securities		8,820		890		1		9,709		9,965		785		27		10,723
	$	1,304,997	$	34,232	$	5,828	$	1,333,401	$	1,408,780	$	25,366	$	12,374	$	1,421,772

Amortized Cost and Fair Value of Held to Maturity Securities

Securitites Held to Maturity
	June 30, 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		185,132		2,631		1,922		185,841		193,189		919		6,436		187,672
Mortgage-backed securities		954,070		19,481		693		972,858		1,003,327		296		4,671		998,952
CMOs		1,204,626		5,405		13,317		1,196,714		1,314,836		1,062		26,254		1,289,644
	$	2,343,828	$	27,517	$	15,932	$	2,355,413	$	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):

	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
June 30, 2014	Value		Losses		Value		Losses		Value		Losses
US Treasury and government agency securities	$	144	$	1	$	35	$	—	$	179	$	1
Municipal obligations		—		—		—		—		—		—
Mortgage-backed securities		19,753		70		130,591		4,035		150,344		4,105
CMOs		49,381		522		41,567		1,199		90,948		1,721
Equity securities		—		—		3		1		3		1
	$	69,278	$	593	$	172,196	$	5,235	$	241,474	$	5,828

	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2013	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
Corporate debt securities		—		—		—		—		—
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):

	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
June 30, 2014	Value		Losses		Value		Losses		Value		Losses
Municpal obligations	$	495	$	5	$	60,099	$	1,917	$	60,594	$	1,922
Mortgage-backed securities		—		—		134,550		693		134,550		693
CMOs		206,634		2,452		649,544		10,865		856,178		13,317
	$	207,129	$	2,457	$	844,193	$	13,475	$	1,051,322	$	15,932

	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2013	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 June 30, 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 Cost		Fair Value
Debt Securities Available for Sale
Due in one year or less	$	12,872	$	12,906
Due after one year through five years		162,474		162,602
Due after five years through ten years		171,206		178,164
Due after ten years		949,625		970,020
Total available for sale debt securities	$	1,296,177	$	1,323,692

Held to Maturity Securities Transferred from AFS [Member]

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

	Amortized Cost		Fair Value
Debt Securities Held to Maturity
Due in one year or less	$	5,940	$	5,969
Due after one year through five years		655,817		646,032
Due after five years through ten years		106,088		104,789
Due after ten years		1,575,983		1,598,623
Total held to maturity securities	$	2,343,828	$	2,355,413