Investments And MBS (Tables)

3 Months Ended

Mar. 31, 2013

Investments and MBS [Abstract]

Available-for-sale Securities [Table Text Block]

The carrying and fair values of investments and MBS are summarized as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
March 31, 2013
Available for sale
MBS	$	1,229,428	$	39,074	$	(172	)	$	1,268,330
Municipal bonds	188,434		15,219		(590		)	203,063
Other	162		8		0			170
Total	$	1,418,024	$	54,301	$	(762	)	$	1,471,563
Held to maturity
Tax credits	$	195	$	0	$	0		$	195
Total	$	195	$	0	$	0		$	195
December 31, 2012
Available for sale
MBS	$	1,263,786	$	45,052	$	0		$	1,308,838
Municipal bonds	188,467		16,452		(613		)	204,306
Other	5		8		0			13
Total	$	1,452,258	$	61,512	$	(613	)	$	1,513,157
Held to maturity
Tax credits	$	206	$	0	$	0		$	206
Total	$	206	$	0	$	0		$	206

Realized Gain (Loss) on Investments [Table Text Block]

Total sales of Sterling’s securities during the periods ended March 31, 2013 and 2012 are summarized as follows:

	Proceeds from Sales		Gross Realized Gains		Gross Realized Losses
	(in thousands)
Three Months Ended:
March 31, 2013	$	0	$	0	$	0
March 31, 2012	178,663		142		0

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

The following table summarizes Sterling’s investments and MBS that had a market value below their amortized cost as of March 31, 2013 and December 31, 2012, segregated by those investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or longer:

	Less than 12 months					12 months or longer					Total
	Market Value		Unrealized Losses			Market Value		Unrealized Losses			Market Value		Unrealized Losses
	(in thousands)
March 31, 2013
MBS	$	32,685	$	(172	)	$	0	$	0		$	32,685	$	(172	)
Municipal bonds	0		0			14,047		(590		)	14,047		(590		)
Other	0		0			0		0			0		0
Total	$	32,685	$	(172	)	$	14,047	$	(590	)	$	46,732	$	(762	)
December 31, 2012
MBS	$	0	$	0		$	0	$	0		$	0	$	0
Municipal bonds	0		0			12,921		(613		)	12,921		(613		)
Other	0		0			0		0			0		0
Total	$	0	$	0		$	12,921	$	(613	)	$	12,921	$	(613	)

Investments Classified by Contractual Maturity Date [Table Text Block]

Actual maturities for MBS will differ from contractual maturities as a result of the level of prepayments experienced on the underlying mortgages.

	Held to maturity				Available for sale
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(in thousands)
Due within one year	$	0	$	0	$	0	$	0
Due after one year through five years	0		0		2,720		2,917
Due after five years through ten years	0		0		72,378		75,451
Due after ten years	195		195		1,342,926		1,393,195
Total	$	195	$	195	$	1,418,024	$	1,471,563