v2.4.0.8

INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2014

INVESTMENT SECURITIES [Abstract]

Amortized cost and estimated fair value of investment securities

The amortized cost and estimated fair value of investment securities as of March 31, 2014 and December 31, 2013 are as follows:

	March 31, 2014					December 31, 2013
		Gross	Gross				Gross	Gross
	Amortized	Unrealized	Unrealized	Fair			Unrealized	Unrealized	Fair
(000's omitted)	Cost	Gains	Losses	Value		Cost	Gains	Losses	Value
Available-for-Sale Portfolio:
U.S. Treasury and agency securities	$1,479,306	$7,582	$20,157	$1,466,731		$1,252,332	$1,119	$41,304	$1,212,147
Obligations of state and political subdivisions	684,713	19,984	5,571	699,126		665,441	15,919	12,378	668,982
Government agency mortgage-backed securities	248,785	9,086	3,021	254,850		250,431	8,660	4,113	254,978
Corporate debt securities	26,899	794	136	27,557		26,932	873	218	27,587
Government agency collateralized mortgage obligations	20,777	812	0	21,589		21,779	362	93	22,048
Marketable equity securities	250	183	0	433		250	171	0	421
Total available-for-sale portfolio	$2,460,730	$38,441	$28,885	$2,470,286		$2,217,165	$27,104	$58,106	$2,186,163
Other Securities:
Federal Reserve Bank common stock	$16,050			$16,050		$16,050			$16,050
Federal Home Loan Bank common stock	15,436			15,436		12,053			12,053
Other equity securities	4,449			4,449		4,459			4,459
Total other securities	$35,935			$35,935		$32,562			$32,562

Summary of investment securities that have been in a continuous unrealized loss position for less than or greater than twelve months

A summary of investment securities that have been in a continuous unrealized loss position for less than, or greater than, twelve months is as follows:

As of March 31, 2014

			Less than 12 Months			12 Months or Longer				Total
				Gross				Gross				Gross
			Fair	Unrealized			Fair	Unrealized			Fair	Unrealized
(000's omitted)		#	Value	Losses		#	Value	Losses		#	Value	Losses
Available-for-Sale Portfolio:
U.S. Treasury and agency obligations		34	$840,063	$20,157		0	$0	$0		34	$840,063	$20,157
Obligations of state and political subdivisions		211	139,641	4,355		31	15,923	1,216		242	155,564	5,571
Government agency mortgage-backed securities		38	65,142	2,250		8	9,981	771		46	75,123	3,021
Corporate debt securities		0	0	0		1	2,737	136		1	2,737	136
Government agency collateralized mortgage obligations		0	0	0		1	6	0		1	6	0
Total available-for-sale/investment portfolio		283	$1,044,846	$26,762		41	$28,647	$2,123		324	$1,073,493	$28,885

As of December 31, 2013

		Less than 12 Months				12 Months or Longer				Total
				Gross				Gross				Gross
			Fair	Unrealized			Fair	Unrealized			Fair	Unrealized
(000's omitted)		#	Value	Losses		#	Value	Losses		#	Value	Losses
Available-for-Sale Portfolio:
U.S. Treasury and agency obligations		43	$1,181,214	$41,304		0	$0	$0		43	$1,181,214	$41,304
Obligations of state and political subdivisions		302	195,526	11,774		9	4,974	604		311	200,500	12,378
Government agency mortgage-backed securities		43	68,917	3,262		6	8,713	851		49	77,630	4,113
Corporate debt securities		1	3,026	31		1	2,703	187		2	5,729	218
Government agency collateralized mortgage obligations		1	2,601	93		1	7	0		2	2,608	93
Total available-for-sale/investment portfolio		390	$1,451,284	$56,464		17	$16,397	$1,642		407	$1,467,681	$58,106

Amortized cost and estimated fair value of debt securities by contractual maturity

The amortized cost and estimated fair value of debt securities at March 31, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Securities not due at a single maturity date are shown separately.

		Available-for-Sale
		Amortized	Fair
(000's omitted)		Cost	Value
Due in one year or less		$61,273	$62,343
Due after one through five years		164,805	169,923
Due after five years through ten years		1,677,793	1,670,155
Due after ten years		287,047	290,993
Subtotal		2,190,918	2,193,414
Government agency mortgage-backed securities		248,785	254,850
Government agency collateralized mortgage obligations		20,777	21,589
Total		$2,460,480	$2,469,853

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- Definition

A table of investments, shown as a text block.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 6

-Section 10

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: 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=27724398&loc=d3e27290-111563

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