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Investment Securities, Available-for-Sale (Tables)
12 Months Ended
Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]  
Comparison of amortized cost and estimated fair value of investment securities designated as available-for-sale
 
December 31, 2013
 
Weighted
 
Amortized
 
Gross Unrealized
 
Fair
(Dollars in thousands)
Yield
 
Cost
 
Gains
 
Losses
 
Value
U.S. government sponsored enterprises
 
 
 
 
 
 
 
 
 
Maturing after one year through five years
2.32
%
 
$
10,405

 
187

 

 
10,592

Maturing after five years through ten years
2.00
%
 
36

 

 

 
36

 
2.32
%
 
10,441

 
187

 

 
10,628

State and local governments
 
 
 
 
 
 
 
 
 
Maturing within one year
2.22
%
 
5,964

 
57

 

 
6,021

Maturing after one year through five years
2.06
%
 
174,826

 
3,486

 
(448
)
 
177,864

Maturing after five years through ten years
3.21
%
 
58,835

 
831

 
(1,040
)
 
58,626

Maturing after ten years
4.41
%
 
1,137,722

 
27,247

 
(22,402
)
 
1,142,567

 
4.06
%
 
1,377,347

 
31,621

 
(23,890
)
 
1,385,078

Corporate bonds
 
 
 
 
 
 
 
 
 
Maturing within one year
2.17
%
 
91,687

 
719

 

 
92,406

Maturing after one year through five years
2.09
%
 
341,799

 
3,203

 
(1,676
)
 
343,326

Maturing after five years through ten years
2.23
%
 
6,851

 

 
(82
)
 
6,769

 
2.11
%
 
440,337

 
3,922

 
(1,758
)
 
442,501

Residential mortgage-backed securities
2.48
%
 
1,380,816

 
14,071

 
(10,265
)
 
1,384,622

Total investment securities
3.10
%
 
$
3,208,941

 
49,801

 
(35,913
)
 
3,222,829

Note 3. Investment Securities, Available-for-Sale (continued)

 
December 31, 2012
 
Weighted
 
Amortized
 
Gross Unrealized
 
Fair
(Dollars in thousands)
Yield
 
Cost
 
Gains
 
Losses
 
Value
U.S. government and federal agency
 
 
 
 
 
 
 
 
 
Maturing within one year
1.62
%
 
$
201

 
1

 

 
202

U.S. government sponsored enterprises
 
 
 
 
 
 
 
 
 
Maturing after one year through five years
2.30
%
 
17,064

 
371

 

 
17,435

Maturing after five years through ten years
2.03
%
 
44

 
1

 

 
45

 
2.29
%
 
17,108

 
372

 

 
17,480

State and local governments
 
 
 
 
 
 
 
 
 
Maturing within one year
2.01
%
 
4,288

 
28

 
(2
)
 
4,314

Maturing after one year through five years
2.11
%
 
149,497

 
4,142

 
(142
)
 
153,497

Maturing after five years through ten years
2.95
%
 
38,346

 
1,102

 
(99
)
 
39,349

Maturing after ten years
4.70
%
 
935,897

 
82,823

 
(1,362
)
 
1,017,358

 
4.29
%
 
1,128,028

 
88,095

 
(1,605
)
 
1,214,518

Corporate bonds
 
 
 
 
 
 
 
 
 
Maturing within one year
1.73
%
 
18,412

 
51

 

 
18,463

Maturing after one year through five years
2.22
%
 
250,027

 
4,018

 
(238
)
 
253,807

Maturing after five years through ten years
2.23
%
 
16,144

 
381

 

 
16,525

 
2.19
%
 
284,583

 
4,450

 
(238
)
 
288,795

Collateralized debt obligations
 
 
 
 
 
 
 
 
 
Maturing after ten years
8.03
%
 
1,708

 

 

 
1,708

Residential mortgage-backed securities
1.95
%
 
2,156,049

 
8,860

 
(4,607
)
 
2,160,302

Total investment securities
2.71
%
 
$
3,587,677

 
101,778

 
(6,450
)
 
3,683,005

Gain or Loss on sale of Investments
 
Years ended
(Dollars in thousands)
December 31,
2013
 
December 31,
2012
 
December 31,
2011
Gross proceeds
$
181,971

 

 
18,916

Less amortized cost
(182,270
)
 

 
(18,570
)
Net (loss) gain on sale of investments
$
(299
)
 

 
346

Gross gain on sale of investments
$
3,723

 

 
1,048

Gross loss on sale of investments
(4,022
)
 

 
(702
)
Net (loss) gain on sale of investments
$
(299
)
 

 
346

Summary of investments with an unrealized loss position
 
December 31, 2013
 
Less than 12 Months
 
12 Months or More
 
Total
(Dollars in thousands)
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
U.S. government sponsored enterprises
$
3

 

 

 

 
3

 

State and local governments
408,812

 
(17,838
)
 
74,161

 
(6,052
)
 
482,973

 
(23,890
)
Corporate bonds
129,515

 
(1,672
)
 
1,702

 
(86
)
 
131,217

 
(1,758
)
Residential mortgage-backed securities
457,611

 
(10,226
)
 
1,993

 
(39
)
 
459,604

 
(10,265
)
Total temporarily impaired securities
$
995,941

 
(29,736
)
 
77,856

 
(6,177
)
 
1,073,797

 
(35,913
)
 
 
December 31, 2012
 
Less than 12 Months
 
12 Months or More
 
Total
(Dollars in thousands)
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
State and local governments
$
102,896

 
(1,531
)
 
4,533

 
(74
)
 
107,429

 
(1,605
)
Corporate bonds
41,856

 
(238
)
 

 

 
41,856

 
(238
)
Residential mortgage-backed securities
955,235

 
(4,041
)
 
62,905

 
(566
)
 
1,018,140

 
(4,607
)
Total temporarily impaired securities
$
1,099,987

 
(5,810
)
 
67,438

 
(640
)
 
1,167,425

 
(6,450
)