Investment Securities (Tables)

3 Months Ended

Mar. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Investment securities at March 31, 2014, were as follows:



Securities Available-for-Sale (In thousands)	Amortized Cost		Gross Unrealized/ Unrecognized Holding Gains		Gross Unrealized/ Unrecognized Holding Losses		Estimated Fair Value
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	570,633	$	—	$	31,617	$	539,016
U.S. Government sponsored entities' asset-backed securities	643,669		9,074		8,070		644,673
Other equity securities	1,120		1,568		—		2,688
Total	$	1,215,422	$	10,642	$	39,687	$	1,186,377



Securities Held-to-Maturity (In thousands)	Amortized Cost		Gross Unrealized/ Unrecognized Holding Gains		Gross Unrealized/ Unrecognized Holding Losses		Estimated Fair Value
Obligations of states and political subdivisions	$	155	$	—	$	—	$	155
U.S. Government sponsored entities' asset-backed securities	171,781		3,936		495		175,222
Total	$	171,936	$	3,936	$	495	$	175,377

Investment securities at December 31, 2013, were as follows:



Securities Available-for-Sale (In thousands)	Amortized cost		Gross Unrealized/ Unrecognized Holding Gains		Gross Unrealized/ Unrecognized Holding Losses		Estimated fair value
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	570,632	$	—	$	45,496	$	525,136
U.S. Government sponsored entities' asset-backed securities	650,391		8,070		9,990		648,471
Other equity securities	1,120		1,539		—		2,659
Total	$	1,222,143	$	9,609	$	55,486	$	1,176,266



Securities Held-to-Maturity (In thousands)	Amortized cost		Gross Unrealized/ Unrecognized Holding Gains		Gross Unrealized/ Unrecognized Holding Losses		Estimated fair value
Obligations of states and political subdivisions	$	240	$	1	$	—	$	241
U.S. Government sponsored entities' asset-backed securities	181,821		5,382		42		187,161
Total	$	182,061	$	5,383	$	42	$	187,402

Schedule Of Unrealized Loss On Securities

Securities with unrealized losses at March 31, 2014, were as follows:



	Unrealized loss position for less than 12 months				Unrealized loss position for 12 months or longer				Total
(In thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government agencies	$	328,241	$	16,750	$	210,775	$	14,867	$	539,016	$	31,617
U.S. Government agencies' asset-backed securities	$	249,196	$	7,107	$	21,137	$	963	$	270,333	$	8,070
Total	$	577,437	$	23,857	$	231,912	$	15,830	$	809,349	$	39,687
Securities Held-to-Maturity
U.S. Government sponsored entities' asset-backed securities	$	90,751	$	495	$	—	$	—	$	90,751	$	495

Securities with unrealized losses at December 31, 2013, were as follows:



	Unrealized loss position for less than 12 months				Unrealized loss position for 12 months or longer				Total
(In thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	377,626	$	29,256	$	147,510	$	16,240	$	525,136	$	45,496
U.S. Government sponsored entities' asset-backed securities	404,035		8,917		21,572		1,073		425,607		9,990
Total	$	781,661	$	38,173	$	169,082	$	17,313	$	950,743	$	55,486
Securities Held-to-Maturity
U.S. Government sponsored entities' asset-backed securities	$	5,781	$	42	$	—	$	—	$	5,781	$	42

Amortized Cost And Estimated Fair Value Of Investments In Debt Securities By Contractual Maturity

The amortized cost and estimated fair value of investments in debt securities at March 31, 2014, 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 of principal repayments.



Securities Available-for-Sale (In thousands)	Amortized cost		Fair value		Weighted Avg Yield
U.S. Treasury and sponsored entities' obligations:
Due one through five years	50,000		47,883		2.00	%
Due five through ten years	396,883		376,447		2.43	%
Due in over ten years	123,750		114,686		1.74	%
Total	$	570,633	$	539,016	2.24	%

U.S. Government sponsored entities' asset-backed securities:	$	643,669	$	644,673	2.46	%



Securities Held-to-Maturity (In thousands)	Amortized cost		Fair value		Weighed Avg Yield
Obligations of state and political subdivisions:
Due within one year	$	155	$	155	4.49	%

U.S. Government sponsored entities' asset-backed securities	$	171,781	$	175,222	3.67	%

- 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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