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Investments | 3 Months Ended
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Mar. 31, 2013
Investments [Abstract] |
Investments | Investments The aggregate values of investment securities at March 31, 2013, December 31, 2012, and March 31, 2012, along with unrealized gains and losses determined on an individual security basis are as follows:
| Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
Investment securities available for sale |  |  |  |  |  |  |
March 31, 2013 |  |  |  |  |  |  |
U. S. Treasury | $ | 749,284 |  |  | $ | 474 |  |  | $ | 1 |  |  | $ | 749,757 |
Government agency | 3,147,363 |  |  | 2,952 |  |  | 274 |  |  | 3,150,041 |
Residential mortgage-backed securities | 1,348,765 |  |  | 10,849 |  |  | 1,512 |  |  | 1,358,102 |
Equity securities | 543 |  |  | 19,860 |  |  | — |  |  | 20,403 |
State, county and municipal | 546 |  |  | 1 |  |  | — |  |  | 547 |
Other | 844 |  |  | 1 |  |  | 17 |  |  | 828 |
Total investment securities available for sale | $ | 5,247,345 |  |  | $ | 34,137 |  |  | $ | 1,804 |  |  | $ | 5,279,678 |
December 31, 2012 |  |  |  |  |  |  |
U. S. Treasury | $ | 823,241 |  |  | $ | 403 |  |  | $ | 12 |  |  | $ | 823,632 |
Government agency | 3,052,040 |  |  | 3,501 |  |  | 337 |  |  | 3,055,204 |
Residential mortgage-backed securities | 1,315,211 |  |  | 14,787 |  |  | 341 |  |  | 1,329,657 |
Equity securities | 543 |  |  | 15,822 |  |  | — |  |  | 16,365 |
State, county and municipal | 546 |  |  | 4 |  |  | — |  |  | 550 |
Other | 838 |  |  | — |  |  | 18 |  |  | 820 |
Total investment securities available for sale | $ | 5,192,419 |  |  | $ | 34,517 |  |  | $ | 708 |  |  | $ | 5,226,228 |
March 31, 2012 |  |  |  |  |  |  |
U. S. Treasury | $ | 1,065,035 |  |  | $ | 306 |  |  | $ | 305 |  |  | $ | 1,065,036 |
Government agency | 2,859,197 |  |  | 1,228 |  |  | 5,040 |  |  | 2,855,385 |
Corporate bonds | 225,214 |  |  | 1,214 |  |  | — |  |  | 226,428 |
Residential mortgage-backed securities | 282,706 |  |  | 8,393 |  |  | 191 |  |  | 290,908 |
Equity securities | 894 |  |  | 18,049 |  |  | — |  |  | 18,943 |
State, county and municipal | 1,026 |  |  | 14 |  |  | 1 |  |  | 1,039 |
Total investment securities available for sale | $ | 4,434,072 |  |  | $ | 29,204 |  |  | $ | 5,537 |  |  | $ | 4,457,739 |
Investment securities held to maturity |  |  |  |  |  |  |
March 31, 2013 |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 1,229 |  |  | $ | 120 |  |  | $ | 27 |  |  | $ | 1,322 |
December 31, 2012 |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 1,342 |  |  | $ | 133 |  |  | $ | 27 |  |  | $ | 1,448 |
March 31, 2012 |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 1,688 |  |  | $ | 183 |  |  | $ | 27 |  |  | $ | 1,844 |
Investments in residential mortgage-backed securities primarily represent securities issued by the Government National Mortgage Association, Federal National Mortgage Association, and Federal Home Loan Mortgage Corporation. Investments in corporate bonds represent debt securities issued by various financial institutions under the Temporary Liquidity Guarantee Program. These debt obligations were issued with the full faith and credit of the United States of America. The guarantee for these securities is triggered when an issuer defaults on a scheduled payment. The following table provides the expected maturity distribution for residential mortgage-backed securities and the contractual maturity distribution of other investment securities as of the dates indicated. Callable securities are assumed to mature on their earliest call date.
| March 31, 2013 |  | December 31, 2012 |  | March 31, 2012
| Cost |  | Fair value |  | Cost |  | Fair value |  | Cost |  | Fair value
Investment securities available for sale |  |  |  |  |  |  |  |  |  |  |
Maturing in: |  |  |  |  |  |  |  |  |  |  |
One year or less | $ | 2,350,896 |  |  | $ | 2,352,328 |  |  | $ | 2,288,556 |  |  | $ | 2,289,859 |  |  | $ | 2,750,247 |  |  | $ | 2,748,710 |
One through five years | 2,233,407 |  |  | 2,237,530 |  |  | 2,323,222 |  |  | 2,329,207 |  |  | 1,469,876 |  |  | 1,469,236 |
Five through 10 years | 181,370 |  |  | 182,281 |  |  | 194,398 |  |  | 196,371 |  |  | 67,229 |  |  | 67,683 |
Over 10 years | 481,129 |  |  | 487,136 |  |  | 385,700 |  |  | 394,426 |  |  | 145,826 |  |  | 153,167 |
Equity securities | 543 |  |  | 20,403 |  |  | 543 |  |  | 16,365 |  |  | 894 |  |  | 18,943 |
Total investment securities available for sale | $ | 5,247,345 |  |  | $ | 5,279,678 |  |  | $ | 5,192,419 |  |  | $ | 5,226,228 |  |  | $ | 4,434,072 |  |  | $ | 4,457,739 |
Investment securities held to maturity |  |  |  |  |  |  |  |  |  |  |
Maturing in: |  |  |  |  |  |  |  |  |  |  |
One through five years | $ | 1,132 |  |  | $ | 1,188 |  |  | $ | 1,242 |  |  | $ | 1,309 |  |  | $ | 379 |  |  | $ | 393 |
Five through 10 years | 18 |  |  | 10 |  |  | 18 |  |  | 11 |  |  | 1,201 |  |  | 1,306 |
Over 10 years | 79 |  |  | 124 |  |  | 82 |  |  | 128 |  |  | 108 |  |  | 145 |
Total investment securities held to maturity | $ | 1,229 |  |  | $ | 1,322 |  |  | $ | 1,342 |  |  | $ | 1,448 |  |  | $ | 1,688 |  |  | $ | 1,844 |
For each period presented, securities gains (losses) include the following:
| Three months ended March 31
| 2013 |  | 2012
Gross gains on sales of investment securities available for sale | $ | 58 |  |  | $ | — |
Gross losses on sales of investment securities available for sale | — |  |  | — |
Other than temporary impairment loss on equity securities | — |  |  | (45 | )
Total securities gains (losses) | $ | 58 |  |  | $ | (45 | )
The following table provides information regarding securities with unrealized losses as of March 31, 2013, December 31, 2012, and March 31, 2012:
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
March 31, 2013 |  |  |  |  |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |  |  |  |  |
U. S. Treasury | $ | 25,060 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 25,060 |  |  | $ | 1 |
Government agency | 548,618 |  |  | 274 |  |  | — |  |  | — |  |  | 548,618 |  |  | 274 |
Residential mortgage-backed securities | 349,746 |  |  | 1,379 |  |  | 10,089 |  |  | 133 |  |  | 359,835 |  |  | 1,512 |
Other | 828 |  |  | 17 |  |  | — |  |  | — |  |  | 828 |  |  | 17 |
Total | $ | 924,252 |  |  | $ | 1,671 |  |  | $ | 10,089 |  |  | $ | 133 |  |  | $ | 934,341 |  |  | $ | 1,804 |
Investment securities held to maturity: |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | — |  |  | $ | — |  |  | $ | 16 |  |  | $ | 27 |  |  | $ | 16 |  |  | $ | 27 |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |  |  |  |  |
U. S. Treasury | $ | 120,045 |  |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 120,045 |  |  | $ | 12 |
Government agency | 407,498 |  |  | 337 |  |  | — |  |  | — |  |  | 407,498 |  |  | 337 |
Residential mortgage-backed securities | 135,880 |  |  | 214 |  |  | 9,433 |  |  | 127 |  |  | 145,313 |  |  | 341 |
Other | 820 |  |  | 18 |  |  | — |  |  | — |  |  | 820 |  |  | 18 |
Total | $ | 664,243 |  |  | $ | 581 |  |  | $ | 9,433 |  |  | $ | 127 |  |  | $ | 673,676 |  |  | $ | 708 |
Investment securities held to maturity: |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | — |  |  | $ | — |  |  | $ | 17 |  |  | $ | 27 |  |  | $ | 17 |  |  | $ | 27 |
March 31, 2012 |  |  |  |  |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 579,673 |  |  | $ | 305 |  |  | $ | — |  |  | $ | — |  |  | $ | 579,673 |  |  | $ | 305 |
Government agency | 2,143,742 |  |  | 5,040 |  |  | — |  |  | — |  |  | 2,143,742 |  |  | 5,040 |
Residential mortgage-backed securities | 28,595 |  |  | 156 |  |  | 1,113 |  |  | 35 |  |  | 29,708 |  |  | 191 |
State, county and municipal | 127 |  |  | 1 |  |  | 10 |  |  | — |  |  | 137 |  |  | 1 |
Total | $ | 2,752,137 |  |  | $ | 5,502 |  |  | $ | 1,123 |  |  | $ | 35 |  |  | $ | 2,753,260 |  |  | $ | 5,537 |
Investment securities held to maturity: |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | — |  |  | $ | — |  |  | $ | 20 |  |  | $ | 27 |  |  | $ | 20 |  |  | $ | 27 |
Investment securities with an aggregate fair value of $10,105 have had continuous unrealized losses for more than 12 months as of March 31, 2013, with an aggregate unrealized loss of $160. These 30 investments are residential mortgage-backed securities. None of the unrealized losses identified as of March 31, 2013, December 31, 2012, or March 31, 2012, relate to the marketability of the securities or the issuer’s ability to honor redemption obligations. For all periods presented, BancShares had the ability and intent to retain these securities for a period of time sufficient to recover all unrealized losses. Therefore, none of the securities were deemed to be other than temporarily impaired. Investment securities having an aggregate carrying value of $2,558,079 at March 31, 2013, $2,351,072 at December 31, 2012, and $2,540,463 at March 31, 2012, were pledged as collateral to secure public funds on deposit to secure certain short-term borrowings and for other purposes as required by law.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 + Details
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