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Investment Securities | 9 Months Ended
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Sep. 30, 2012
Investment Securities | Note 7 Investment Securities Below is an analysis of the amortized cost and estimated fair values of securities available for sale at:
|  | September 30, 2012 |  |  | December 31, 2011 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
|  | (dollars in thousands) |
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential |  | $ | 29,214 |  |  | $ | 4,141 |  |  | $ | 0 |  |  | $ | 33,355 |  |  | $ | 32,139 |  |  | $ | 4,061 |  |  | $ | (6 | ) |  | $ | 36,194 |
Obligations of U.S. Government- Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential |  |  | 786,945 |  |  |  | 31,333 |  |  |  | 0 |  |  |  | 818,278 |  |  |  | 771,196 |  |  |  | 29,835 |  |  |  | 0 |  |  |  | 801,031 |
Mortgage-Backed Securities – Commercial |  |  | 164 |  |  |  | 2 |  |  |  | 0 |  |  |  | 166 |  |  |  | 193 |  |  |  | 1 |  |  |  | (1 | ) |  |  | 193 |
Other Government-Sponsored Enterprises |  |  | 241,996 |  |  |  | 887 |  |  |  | (2 | ) |  |  | 242,881 |  |  |  | 267,807 |  |  |  | 973 |  |  |  | (132 | ) |  |  | 268,648 |
Obligations of States and Political Subdivisions |  |  | 82 |  |  |  | 5 |  |  |  | 0 |  |  |  | 87 |  |  |  | 444 |  |  |  | 15 |  |  |  | 0 |  |  |  | 459 |
Corporate Securities |  |  | 10,771 |  |  |  | 373 |  |  |  | 0 |  |  |  | 11,144 |  |  |  | 11,811 |  |  |  | 162 |  |  |  | (562 | ) |  |  | 11,411 |
Pooled Trust Preferred Collateralized Debt Obligations |  |  | 52,696 |  |  |  | 2 |  |  |  | (29,647 | ) |  |  | 23,051 |  |  |  | 54,762 |  |  |  | 3 |  |  |  | (31,785 | ) |  |  | 22,980 |
Total Debt Securities |  |  | 1,121,868 |  |  |  | 36,743 |  |  |  | (29,649 | ) |  |  | 1,128,962 |  |  |  | 1,138,352 |  |  |  | 35,050 |  |  |  | (32,486 | ) |  |  | 1,140,916 |
Equities |  |  | 1,860 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,860 |  |  |  | 1,860 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,860 |
Total Securities Available for Sale |  | $ | 1,123,728 |  |  | $ | 36,743 |  |  | $ | (29,649 | ) |  | $ | 1,130,822 |  |  | $ | 1,140,212 |  |  | $ | 35,050 |  |  | $ | (32,486 | ) |  | $ | 1,142,776 |
The amortized cost and estimated fair value of debt securities available for sale at September 30, 2012, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or repay obligations with or without call or prepayment penalties.
|  | Amortized Cost |  |  | Estimated Fair Value |
|  | (dollars in thousands) |
Due within 1 year |  | $ | 7,001 |  |  | $ | 7,007 |
Due after 1 but within 5 years |  |  | 235,077 |  |  |  | 235,961 |
Due after 5 but within 10 years |  |  | 0 |  |  |  | 0 |
Due after 10 years |  |  | 63,467 |  |  |  | 34,195 |
|  |  | 305,545 |  |  |  | 277,163 |
Mortgage-Backed Securities (a) |  |  | 816,323 |  |  |  | 851,799 |
Total Debt Securities |  | $ | 1,121,868 |  |  | $ | 1,128,962 |
(a) | Mortgage Backed Securities include an amortized cost of $29.2 million and a fair value of $33.4 million for Obligations of U.S. Government agencies issued by Ginnie Mae and Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac which had an amortized cost of $787.1 million and a fair value of $818.4 million.
Proceeds from sale, gross gains (losses) realized on sales, maturities and other-than-temporary impairment charges related to securities available for sale were as follows for the nine-months ended September 30:
|  | 2012 |  |  | 2011 |
|  | (dollars in thousands) |
Proceeds from sale |  | $ | 0 |  |  | $ | 75,074 |
Gross gains (losses) realized: |  |  |  |  |  |  |  |
Sales Transactions: |  |  |  |  |  |  |  |
Gross gains |  | $ | 0 |  |  | $ | 2,368 |
Gross losses |  |  | 0 |  |  |  | (258 | )
|  |  | 0 |  |  |  | 2,110 |
Maturities and impairment |  |  |  |  |  |  |  |
Gross gains |  |  | 163 |  |  |  | 75 |
Gross losses |  |  | 0 |  |  |  | 0 |
Other-than-temporary impairment |  |  | 0 |  |  |  | 0 |
|  |  | 163 |  |  |  | 75 |
Net gains and impairment |  | $ | 163 |  |  | $ | 2,185 |
Securities available for sale with a fair value of $599.6 million and $668.8 million were pledged as of September 30, 2012 and December 31, 2011, respectively, to secure public deposits and for other purposes required or permitted by law.

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