Securities (Tables)

3 Months Ended

Mar. 31, 2015

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:

Securities Available for Sale
(in thousands)	March 31, 2015								December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
US Treasury and government agency securities	$	100,182	$	—	$	766	$	99,416	$	300,207	$	372	$	71	$	300,508
Municipal obligations		12,734		231		—		12,965		13,995		186		5		14,176
Mortgage-backed securities		1,441,474		35,262		1,947		1,474,789		1,217,293		31,094		2,823		1,245,564
CMOs		232,545		378		811		232,112		88,093		—		1,229		86,864
Corporate debt securities		3,500		—		—		3,500		3,500		—		—		3,500
Equity securities		2,512		322		8		2,826		8,673		891		11		9,553
	$	1,792,947	$	36,193	$	3,532	$	1,825,608	$	1,631,761	$	32,543	$	4,139	$	1,660,165

Amortized Cost and Fair Value of Held to Maturity Securities

Securities Held to Maturity
(in thousands)	March 31, 2015								December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losse		Fair Value
US Treasury and government agency securities	$	200,000	$	99	$	149		199,950	$	—	$	—	$	—	$	—
Municipal obligations		183,206		4,003		634		186,575		180,615		3,416		1,144		182,887
Mortgage-backed securities		873,729		28,061		—		901,790		899,923		23,897		162		923,658
CMOs		1,025,361		8,443		6,001		1,027,803		1,085,751		5,590		11,546		1,079,795
	$	2,282,296	$	40,606	$	6,784	$	2,316,118	$	2,166,289	$	32,903	$	12,852	$	2,186,340

Available for Sale Securities Unrealized Losses

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

March 31, 2015	Losses < 12 months				Losses 12 months or >				Total
(in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Unrealized Gross Losses
US Treasury and government agency securities	$	99,249	$	765	$	106	$	1	$	99,355	$	766
Mortgage-backed securities		23,484		152		124,102		1,795		147,586		1,947
CMOs		104,199		105		37,979		706		142,178		811
Equity securities		1,848		6		2		2		1,850		8
	$	228,780	$	1,028	$	162,189	$	2,504	$	390,969	$	3,532

December 31, 2014	Losses < 12 months				Losses 12 months or >				Total
(in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
US Treasury and government agency securities	$	99,950	$	70	$	121	$	1	$	100,071	$	71
Municipal obligations		2,995		5		—		—		2,995		5
Mortgage-backed securities		38,955		163		125,641		2,660		164,596		2,823
CMOs		—		—		86,864		1,229		86,864		1,229
Equity securities		5,998		10		3		1		6,001		11
	$	147,898	$	248	$	212,629	$	3,891	$	360,527	$	4,139

Held to Maturity with Unrealized Losses

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

Held to maturity March 31, 2015	Losses < 12 months				Losses 12 months or >				Total
(in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
US Treasury and government agency securities	$	99,851	$	149	$	—	$	—	$	99,851	$	149
Municipal obligations		8,757		17		49,110		617		57,867		634
CMOs		84,621		429		387,944		5,572		472,565		6,001
	$	193,229	$	595	$	437,054	$	6,189	$	630,283	$	6,784

Held to maturity December 31, 2014	Losses < 12 months				Losses 12 months or >				Total
(in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Municipal obligations	$	4,316	$	12	$	58,105	$	1,132	$	62,421	$	1,144
Mortgage-backed securities		—		—		95,522		162		95,522		162
CMOs		119,222		616		540,607		10,930		659,829		11,546
	$	123,538	$	628	$	694,234	$	12,224	$	817,772	$	12,852

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, 2015 by contractual maturity. 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.

(in thousands)	Amortized Cost		Fair Value
Debt Securities Available for Sale
Due in one year or less	$	105,262	$	104,516
Due after one year through five years		136,962		138,138
Due after five years through ten years		232,151		240,235
Due after ten years		1,316,060		1,339,893
Total available for sale debt securities	$	1,790,435	$	1,822,782

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	$	425,253	$	427,208
Due after one year through five years		387,765		386,448
Due after five years through ten years		108,198		108,110
Due after ten years		1,361,080		1,394,352
Total held to maturity securities	$	2,282,296	$	2,316,118