Securities (Tables)

9 Months Ended

Sep. 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):

Securities Available for Sale
	September 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	$	300,257	$	446	$	1	$	300,702	$	504	$	2	$	1	$	505
Municipal obligations		18,495		272		—		18,767		35,809		177		25		35,961
Mortgage-backed securities		1,218,982		27,566		5,325		1,241,223		1,262,633		24,402		10,077		1,276,958
CMOs		90,281		—		1,723		88,558		96,369		—		2,244		94,125
Corporate debt securities		3,500		—		—		3,500		3,500		—		—		3,500
Equity securities		8,784		877		1		9,660		9,965		785		27		10,723
	$	1,640,299	$	29,161	$	7,050	$	1,662,410	$	1,408,780	$	25,366	$	12,374	$	1,421,772

Amortized Cost and Fair Value of Held to Maturity Securities

Securities Held to Maturity
	September 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		183,379		2,911		1,709		184,581		193,189		919		6,436		187,672
Mortgage-backed securities		926,163		12,426		1,258		937,331		1,003,327		296		4,671		998,952
CMOs		1,141,418		5,888		15,999		1,131,307		1,314,836		1,062		26,254		1,289,644
	$	2,250,960	$	21,225	$	18,966	$	2,253,219	$	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):

September 30, 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	$	163	$	1	$	25	$	—	$	188	$	1
Municipal obligations		—		—		—		—		—		—
Mortgage-backed securities		64,485		514		125,977		4,811		190,462		5,325
CMOs		48,604		324		39,954		1,399		88,558		1,723
Equity securities		—		—		3		1		3		1
	$	113,252	$	839	$	165,959	$	6,211	$	279,211	$	7,050

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):

Held to maturity
September 30, 2014	Losses < 12 months				Losses 12 months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
Municipal obligations	$	2,812	$	54	$	55,817	$	1,655	$	58,629	$	1,709
Mortgage-backed securities		—		—		128,802		1,258		128,802		1,258
CMOs		68,903		350		557,747		15,649		626,650		15,999
	$	71,715	$	404	$	742,366	$	18,562	$	814,081	$	18,966

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
Municipal 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 September 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		Fair
	Cost		Value
Debt Securities Available for Sale
Due in one year or less	$	307,762	$	308,233
Due after one year through five years		153,025		152,887
Due after five years through ten years		218,513		225,794
Due after ten years		952,215		965,836
Total available for sale debt securities	$	1,631,515	$	1,652,750

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	$	5,302	$	5,317
Due after one year through five years		638,277		626,915
Due after five years through ten years		100,941		99,697
Due after ten years		1,506,440		1,521,290
Total held to maturity securities	$	2,250,960	$	2,253,219