Investment Securities (Tables)

12 Months Ended

Dec. 31, 2012

Investments, Debt and Equity Securities [Abstract]

Investment securities at December 31, 2011 were as follows:



(In thousands)	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Estimated Fair Value
2011:
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	370,043	$	1,614	$	—	$	371,657
Obligations of states and political subdivisions	2,616		44		—		2,660
U.S. Government sponsored entities’ asset-backed securities	427,300		16,995		—		444,295
Other equity securities	1,188		877		32		2,033
Total	$	801,147	$	19,530	$	32	$	820,645
2011:
Securities Held-to-Maturity
Obligations of states and political subdivisions	$	1,992	$	5	$	—	$	1,997
U.S. Government sponsored entities’ asset-backed securities	818,232		14,377		32		832,577
Total	$	820,224	$	14,382	$	32	$	834,574

Investment securities at December 31, 2012 were as follows:



(In thousands)	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Estimated Fair Value
2012:
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	695,655	$	1,352	$	1,280	$	695,727
Obligations of states and political subdivisions	984		19		—		1,003
U.S. Government sponsored entities’ asset-backed securities	401,882		14,067		447		415,502
Other equity securities	1,137		1,085		—		2,222
Total	$	1,099,658	$	16,523	$	1,727	$	1,114,454
2012:
Securities Held-to-Maturity
Obligations of states and political subdivisions	$	570	$	2	$	—	$	572
U.S. Government sponsored entities’ asset-backed securities	400,820		9,351		38		410,133
Total	$	401,390	$	9,353	$	38	$	410,705

Schedule of unrealized loss on investments

The following table provides detail on investment securities with unrealized losses aggregated by investment category and length of time the individual securities had been in a continuous loss position at December 31, 2012:



	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2012:
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	177,470	$	1,280	$	—	$	—	$	177,470	$	1,280
U.S. Government sponsored entities' asset-backed securities	123,631		447		—		—		123,631		447
Total	$	301,101	$	1,727	$	—	$	—	$	301,101	$	1,727
2012:
Securities Held-to-Maturity
U.S. Government sponsored entities’ asset-backed securities	$	10,120	$	38	$	—	$	—	$	10,120	$	38



	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2011:
Securities Available-for-Sale
Other equity securities	$	—	$	—	$	80	$	32	$	80	$	32
2011:
Securities Held-to-Maturity
U.S. Government sponsored entities’ asset-backed securities	$	—	$	—	$	38,775	$	32	$	38,775	$	32

Schedule of contractual maturity of debt securities

The amortized cost and estimated fair value of investments in debt securities at December 31, 2012, are shown in the following table by contractual maturity or the expected call date, except for asset-backed securities, which are shown as a single total, due to the unpredictability of the timing in principal repayments.



(In thousands)	Amortized Cost		Estimated Fair Value
Securities Available-for-Sale
U.S. Treasury and other U.S. Government sponsored entities’ notes:
Due within one year	$	516,905	$	518,257
Due one through five years	123,750		122,912
Due five through ten years	55,000		54,558
Total	$	695,655	$	695,727
Obligations of states and political subdivisions:
Due within one year	$	984	$	1,003
Total	$	984	$	1,003
U.S. Government sponsored entities’ asset-backed securities:
Total	$	401,882	$	415,502
Securities Held-to-Maturity
Obligations of states and political subdivisions:
Due within one year	$	570	$	572
Total	$	570	$	572
U.S. Government sponsored entities’ asset-backed securities:
Total	$	400,820	$	410,133

- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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