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Investment Securities (Tables) | 9 Months Ended
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Sep. 30, 2012
Analysis of Amortized Cost and Estimated Fair Value of Securities Available for Sale | 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 |
Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale | 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 | 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 |

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + 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=6872113&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27198-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 03-1 -Paragraph 21 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS115-1/124-1 -Paragraph 17 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 19, 20, 21 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 + Details
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