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Securities (Tables)
 9 Months Ended
Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Securities, Excluding Trading Securities
A summary of the amortized cost and estimated fair value of securities, excluding trading securities, is presented below.
 
September 30, 2015
 
December 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
249,331

 
$
10,904

 
$
—

 
$
260,235

 
$
249,009

 
$
14,604

 
$
—

 
$
263,613

Residential mortgage-backed securities
6,723

 
83

 
—

 
6,806

 
8,012

 
92

 
—

 
8,104

States and political subdivisions
2,420,081

 
37,594

 
8,458

 
2,449,217

 
2,668,115

 
34,243

 
9,035

 
2,693,323

Other
1,350

 
—

 
—

 
1,350

 
1,350

 
—

 
—

 
1,350

Total
$
2,677,485

 
$
48,581

 
$
8,458

 
$
2,717,608

 
$
2,926,486

 
$
48,939

 
$
9,035

 
$
2,966,390

Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
3,712,808

 
$
69,579

 
$
—

 
$
3,782,387

 
$
3,783,899

 
$
30,594

 
$
3,241

 
$
3,811,252

Residential mortgage-backed securities
1,077,507

 
53,490

 
466

 
1,130,531

 
1,331,114

 
68,027

 
417

 
1,398,724

States and political subdivisions
3,933,101

 
93,340

 
9,108

 
4,017,333

 
3,104,563

 
104,500

 
156

 
3,208,907

Other
42,437

 
—

 
—

 
42,437

 
42,371

 
—

 
—

 
42,371

Total
$
8,765,853

 
$
216,409

 
$
9,574

 
$
8,972,688

 
$
8,261,947

 
$
203,121

 
$
3,814

 
$
8,461,254
Securities, with Unrealized Losses Segregated by Length of Impairment
As of September 30, 2015, securities with unrealized losses, segregated by length of impairment, were as follows:
 
Less than 12 Months
 
More than 12 Months
 
Total
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
States and political subdivisions
$
295,618

 
$
3,233

 
$
211,796

 
$
5,225

 
$
507,414

 
$
8,458

Total
$
295,618

 
$
3,233

 
$
211,796

 
$
5,225

 
$
507,414

 
$
8,458

Available for Sale
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
$
25,945

 
$
148

 
$
11,326

 
$
318

 
$
37,271

 
$
466

States and political subdivisions
786,267

 
9,108

 
—

 
—

 
786,267

 
9,108

Total
$
812,212

 
$
9,256

 
$
11,326

 
$
318

 
$
823,538

 
$
9,574
Amortized Cost and Estimated Fair Value of Securities, Excluding Trading Securities, Presented by Contractual Maturity
The amortized cost and estimated fair value of securities, excluding trading securities, at September 30, 2015 are presented below by contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Residential mortgage-backed securities and equity securities are shown separately since they are not due at a single maturity date.
 
Held to Maturity
 
Available for Sale
 
Amortized
Cost
 
Estimated
Fair Value
 
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
156,527

 
$
159,683

 
$
279,202

 
$
281,771

Due after one year through five years
783,310

 
833,089

 
3,146,728

 
3,196,000

Due after five years through ten years
210,771

 
211,787

 
1,444,658

 
1,495,873

Due after ten years
1,520,154

 
1,506,243

 
2,775,321

 
2,826,076

Residential mortgage-backed securities
6,723

 
6,806

 
1,077,507

 
1,130,531

Equity securities
—

 
—

 
42,437

 
42,437

Total
$
2,677,485

 
$
2,717,608

 
$
8,765,853

 
$
8,972,688
Sales of Securities Available for Sale
Sales of securities available for sale were as follows:

Three Months Ended 
 September 30,

Nine Months Ended 
 September 30,

2015

2014

2015

2014
Proceeds from sales
$
4,497,202


$
3,649,954


$
4,721,189


$
3,651,982

Gross realized gains
—


33


228


36

Gross realized losses
(52
)
 
—

 
(52
)
 
(1
)
Tax (expense) benefit of securities gains/losses
18

 
(11
)
 
(62
)
 
(12
)
Premium Amortization and Discount Accretion Included in Income on Securities [Table Text Block]
Premium amortization and discount accretion included in interest income on securities was as follows:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2015
 
2014
 
2015
 
2014
Premium amortization
$
(21,354
)
 
$
(17,471
)
 
$
(62,192
)
 
$
(48,862
)
Discount accretion
2,519

 
1,865

 
7,846

 
4,897

Net (premium amortization) discount accretion
$
(18,835
)
 
$
(15,606
)
 
$
(54,346
)
 
$
(43,965
)
Trading Account Securities, at Estimated Fair Value
Trading account securities, at estimated fair value, were as follows:
 
September 30,
2015
 
December 31,
2014
U.S. Treasury
$
16,244

 
$
15,339

States and political subdivisions
3,428

 
87

Total
$
19,672

 
$
15,426
Net Gains and Losses on Trading Account Securities
Net gains and losses on trading account securities were as follows:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2015
 
2014
 
2015
 
2014
Net gain on sales transactions
$
277

 
$
167

 
$
835

 
$
660

Net mark-to-market gains (losses)
6

 
13

 
(40
)
 
10

Net gain (loss) on trading account securities
$
283

 
$
180

 
$
795

 
$
670