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Investments
 12 Months Ended
Dec. 31, 2013
Investments [Abstract]  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
INVESTMENT SECURITIES
The following table presents a summary of investment securities:
 
Amortized
Cost
 
Unrealized
 
Fair
Value
Gains
 
Losses
 
(In thousands)
At December 31, 2013:
 
 
 
 
 
 
 
Available for sale securities at fair value:
 
 
 
 
 
 
 
U.S. government and agencies
$
2,300

 
$
15

 
$
(27
)
 
$
2,288

Government-sponsored entities
228,670

 
301

 
(1,031
)
 
227,940

Municipal bonds
218,900

 
1,431

 
(1,898
)
 
218,433

Mortgage-backed securities (1)
229,609

 
2,513

 
(4,678
)
 
227,444

Other
15,353

 
275

 
(4
)
 
15,624

Total
$
694,832

 
$
4,535

 
$
(7,638
)
 
$
691,729

 
 
 
 
 
 
 
 
Held to maturity securities at amortized cost:
 
 
 
 
 
 
 
Mortgage-backed securities (1)
$
112,014

 
$
15

 
$
(1,112
)
 
$
110,917

Total
$
112,014

 
$
15

 
$
(1,112
)
 
$
110,917

At December 31, 2012:
 
 
 
 
 
 
 
Available for sale securities at fair value:
 
 
 
 
 
 
 
U.S. government and agencies
$
2,781

 
$
—

 
$
(28
)
 
$
2,753

Government-sponsored entities
154,058

 
962

 
(18
)
 
155,002

Municipal bonds
207,952

 
3,172

 
(140
)
 
210,984

Mortgage-backed securities (1)
313,239

 
5,597

 
(909
)
 
317,927

Other
12,526

 
120

 
(12
)
 
12,634

Total
$
690,556

 
$
9,851

 
$
(1,107
)
 
$
699,300

___________________
(1)
 All mortgage-backed securities are guaranteed by U.S. government agencies or Government-sponsored entities.
In the tables below, the weighted average yield is calculated based on average amortized cost which does not include the effect of unrealized changes in fair value. Certain securities are callable before their final maturity. Additionally, certain securities (such as mortgage-backed securities) are shown within the table below based on their final (contractual) maturity, but, due to prepayments, are expected to have shorter lives.
The following table presents the maturities of investment securities available for sale, based on contractual maturity, and the weighted average yields of such securities as of December 31, 2013:
 
U.S. government and agencies (1)
 
Government-sponsored entities (1)
Amortized
cost
 
Fair
value
 
Weighted
average
yield
 
Amortized
cost
 
Fair
value
 
Weighted
average
yield
(In thousands)
Within one year
$
—

 
$
—

 
—
%
 
$
438

 
$
450

 
4.73
%
After one, but within five years
1,144

 
1,117

 
2.68
%
 
213,345

 
212,755

 
0.83
%
After five, but within ten years
1,156

 
1,171

 
3.11
%
 
14,887

 
14,735

 
1.76
%
Greater than ten years
—

 
—

 
—
%
 
—

 
—

 
—
%
Total
$
2,300

 
$
2,288

 
2.90
%
 
$
228,670

 
$
227,940

 
0.90
%
 
Municipal bonds (1)
 
Mortgage-backed securities (2)
Amortized
cost
 
Fair
value
 
Weighted
average
yield (3)
 
Amortized
cost
 
Fair
value
 
Weighted
average
yield
(In thousands)
Within one year
$
46,187

 
$
46,322

 
1.97
%
 
$
3,683

 
$
3,652

 
4.92
%
After one, but within five years
92,491

 
93,485

 
2.17
%
 
384

 
390

 
2.06
%
After five, but within ten years
60,045

 
58,721

 
2.55
%
 
25,194

 
26,197

 
3.82
%
Greater than ten years
20,177

 
19,905

 
3.74
%
 
200,348

 
197,205

 
1.93
%
Total
$
218,900

 
$
218,433

 
2.38
%
 
$
229,609

 
$
227,444

 
2.19
%
 
Other (4)
Amortized
cost
 
Fair
value
 
Weighted
average
yield
(In thousands)
Within one year
$
15,353

 
$
15,624

 
—
%
After one, but within five years
—

 
—

 
—
%
After five, but within ten years
—

 
—

 
—
%
Greater than ten years
—

 
—

 
—
%
Total
$
15,353

 
$
15,624

 
—
%
The following table presents the maturities of investment securities held to maturity, based on contractual maturity, and the weighted average yields of such securities as of December 31, 2013:
 
Mortgage-backed securities (2)
Amortized
cost
 
Fair
value
 
Weighted
average
yield
(In thousands)
Within one year
$
—

 
$
—

 
—
%
After one, but within five years
—

 
—

 
—
%
After five, but within ten years
—

 
—

 
—
%
Greater than ten years
112,014

 
110,917

 
2.26
%
Total
$
112,014

 
$
110,917

 
2.26
%
___________________
(1)
Certain securities are callable before their final maturity. 
(2)
Mortgage-backed securities are shown based on their final (contractual) maturity, but, due to prepayments, they are expected to have shorter lives.
(3)
Yield shown on a fully taxable equivalent (FTE) basis.
(4)
Other securities consist of money market mutual funds and equity securities held at certain non-bank affiliates.
The weighted average remaining maturity at December 31, 2013 was 9.7 years for investment securities available for sale, with $169.0 million of investment securities available for sale callable before maturity. The weighted average remaining maturity at December 31, 2012 was 12.1 years for investment securities available for sale, with $161.9 million of investment securities available for sale callable before maturity.
The weighted average remaining maturity at December 31, 2013 was 15.4 years for investment securities held to maturity. There were no investment securities held to maturity at December 31, 2012.
The following table presents the proceeds from sales, gross realized gains and gross realized losses for securities available for sale that were sold during the following years:
 
Year Ended December 31,
2013
 
2012
 
2011
(In thousands)
Proceeds from sales
$
4,062

 
$
49,336

 
$
162,728

Realized gains
49

 
928

 
1,406

Realized losses
—

 
(57
)
 
(608
)

The following table presents information regarding securities at December 31, 2013 having temporary impairment, due to the fair values having declined below the amortized cost of the individual securities, and the time period that the investments have been temporarily impaired.
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair
value
 
Unrealized
losses
 
Fair
value
 
Unrealized
losses
 
Fair
value
 
Unrealized
losses
 
# of
securities
 
(In thousands, except number of securities)
December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
Available for sale securities
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agencies
$
—

 
$
—

 
$
1,118

 
$
(27
)
 
$
1,118

 
$
(27
)
 
1

Government-sponsored entities
152,058

 
(1,031
)
 
—

 
—

 
152,058

 
(1,031
)
 
14

Municipal bonds
90,165

 
(1,734
)
 
4,354

 
(164
)
 
94,519

 
(1,898
)
 
51

Mortgage-backed securities (1)
82,309

 
(2,711
)
 
50,169

 
(1,967
)
 
132,478

 
(4,678
)
 
31

Other
48

 
(4
)
 
—

 
—

 
48

 
(4
)
 
6

Total
$
324,580

 
$
(5,480
)
 
$
55,641

 
$
(2,158
)
 
$
380,221

 
$
(7,638
)
 
103

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Held to maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities (1)
$
100,444

 
$
(1,112
)
 
$
—

 
$
—

 
$
100,444

 
$
(1,112
)
 
10

Total
$
100,444

 
$
(1,112
)
 
$
—

 
$
—

 
$
100,444

 
$
(1,112
)
 
10

___________________
(1)
 All mortgage-backed securities are guaranteed by U.S. government agencies or Government-sponsored entities.

All of the U.S. government and agencies, government-sponsored entities, and mortgage-backed securities in the table above had a Standard and Poor’s credit rating of AA+. The municipal bonds in the table above had Moody’s credit ratings of at least A3 or a Standard and Poor’s credit rating of at least AA+. Three of the municipal bonds in the table above were not rated by Standard and Poor’s or Moody’s. The other securities in the table above consist of equity securities. At December 31, 2013, the Company does not consider these investments other-than-temporarily impaired because the decline in fair value on investments is primarily attributed to changes in interest rates and not credit quality.
At December 31, 2013 and 2012, the amount of investment securities in an unrealized loss position greater than 12 months as well as in total was not significant and was primarily due to movements in interest rates. The Company has no intent to sell any securities in an unrealized loss position at December 31, 2013 and it is not more likely than not that the Company would be forced to sell any of these securities prior to the full recovery of all unrealized loss amounts. Subsequent to December 31, 2013 and through the date of the filing of this Annual Report on Form 10-K, no securities were downgraded to below investment grade, nor were any securities in an unrealized loss position sold.
Cost method investments, which are included in other assets, can be temporarily impaired when the fair values decline below the amortized costs of the individual investments. There were no cost method investments with unrealized losses at December 31, 2013. There were $0.1 million of cost method investments with unrealized losses at December 31, 2012. The Company invests primarily in low income housing partnerships which generate tax credits. The Company also holds partnership interests in venture capital funds formed to provide financing to small businesses and to promote community development. The Company had $26.2 million and $24.9 million in cost method investments included in other assets as of December 31, 2013 and December 31, 2012, respectively.
The following table presents the concentration of securities with any one issuer that exceeds ten percent of shareholders’ equity as of December 31, 2013:
 
Amortized cost
 
Fair value
(In thousands)
Government National Mortgage Association
$
293,580

 
$
289,497

Federal Home Loan Mortgage Corporation
111,483

 
$
111,617

Federal National Mortgage Association
110,667

 
110,838

Total
$
515,730

 
$
511,952