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Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2013
Investment Securities [Abstract] |
Unrealized gains on investment securities |
|  | June 30, 2013 |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
|  | (in thousands) |
Investment Securities Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency securities |  | $ | 43,450 |  | $ | — |  | $ | (1,312) |  | $ | 42,138 |
Federal agency obligations |  |  | 14,265 |  |  | 30 |  |  | (437) |  |  | 13,858 |
Residential mortgage pass-through securities |  |  | 48,925 |  |  | 682 |  |  | (221) |  |  | 49,386 |
Commercial mortgage pass-through securities |  |  | 9,709 |  |  | — |  |  | (288) |  |  | 9,421 |
Obligations of U.S. states and political subdivisions |  |  | 39,341 |  |  | 1,092 |  |  | (25) |  |  | 40,408 |
Trust preferred securities |  |  | 20,620 |  |  | 224 |  |  | (1,157) |  |  | 19,687 |
Corporate bonds and notes |  |  | 215,263 |  |  | 5,667 |  |  | (2,128) |  |  | 218,802 |
Asset-backed securities |  |  | 19,038 |  |  | 243 |  |  | — |  |  | 19,281 |
Certificates of deposit |  |  | 2,402 |  |  | 30 |  |  | (29) |  |  | 2,403 |
Equity securities |  |  | 376 |  |  | — |  |  | (121) |  |  | 255 |
Other securities |  |  | 4,081 |  |  | 68 |  |  | (15) |  |  | 4,134 |
Total |  | $ | 417,470 |  | $ | 8,036 |  | $ | (5,733) |  | $ | 419,773 |
Investment Securities Held-to-Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency obligations |  | $ | 3,698 |  | $ | 68 |  | $ | — |  | $ | 3,766 |
Commercial mortgage pass-through securities |  |  | 4,965 |  |  | — |  |  | (98) |  |  | 4,867 |
Obligations of U.S. states and political subdivisions |  |  | 118,032 |  |  | 2,045 |  |  | (3,365) |  |  | 116,712 |
Trust preferred securities |  |  | 10,091 |  |  | — |  |  | (82) |  |  | 10,009 |
Total |  | $ | 136,786 |  | $ | 2,113 |  | $ | (3,545) |  | $ | 135,354 |
Total investment securities |  | $ | 554,256 |  | $ | 10,149 |  | $ | (9,278) |  | $ | 555,127 |
|  | December 31, 2012 |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
|  | (in thousands) |
Investment Securities Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency securities |  | $ | 11,870 |  | $ | 62 |  | $ | (23) |  | $ | 11,909 |
Federal agency obligations |  |  | 20,207 |  |  | 333 |  |  | (5) |  |  | 20,535 |
Residential mortgage pass-through securities |  |  | 52,400 |  |  | 1,385 |  |  | (1) |  |  | 53,784 |
Commercial mortgage pass-through securities |  |  | 9,725 |  |  | 244 |  |  | — |  |  | 9,969 |
Obligations of U.S. states and political subdivisions |  |  | 103,193 |  |  | 4,653 |  |  | (132) |  |  | 107,714 |
Trust preferred securities |  |  | 22,279 |  |  | 144 |  |  | (1,174) |  |  | 21,249 |
Corporate bonds and notes |  |  | 228,681 |  |  | 9,095 |  |  | (371) |  |  | 237,405 |
Collateralized mortgage obligations |  |  | 2,120 |  |  | — |  |  | — |  |  | 2,120 |
Asset-backed securities |  |  | 19,431 |  |  | 311 |  |  | — |  |  | 19,742 |
Certificates of deposit |  |  | 2,854 |  |  | 21 |  |  | (10) |  |  | 2,865 |
Equity securities |  |  | 535 |  |  | — |  |  | (210) |  |  | 325 |
Other securities |  |  | 9,145 |  |  | 68 |  |  | (15) |  |  | 9,198 |
Total |  | $ | 482,440 |  | $ | 16,316 |  | $ | (1,941) |  | $ | 496,815 |
Investment Securities Held-to-Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency obligations |  | $ | 4,178 |  | $ | 79 |  | $ | — |  | $ | 4,257 |
Commercial mortgage-backed securities |  |  | 5,501 |  |  | 154 |  |  | (5) |  |  | 5,650 |
Obligations of U.S. states and political subdivisions |  |  | 48,385 |  |  | 4,139 |  |  | — |  |  | 52,524 |
Total |  | $ | 58,064 |  | $ | 4,372 |  | $ | (5) |  | $ | 62,431 |
Total investment securities |  | $ | 540,504 |  | $ | 20,688 |  | $ | (1,946) |  | $ | 559,246 |
Investments classified by maturity date |
|  | June 30, 2013 |
|  | Amortized Cost |  | Fair Value |
|  | (in thousands) |
Investment Securities Available-for-Sale : |  |  |  |  |  |  |
Due in one year or less |  | $ | 13,077 |  | $ | 13,117 |
Due after one year through five years |  |  | 88,313 |  |  | 90,533 |
Due after five years through ten years |  |  | 178,029 |  |  | 178,033 |
Due after ten years |  |  | 74,960 |  |  | 74,894 |
Residential mortgage pass-through securities |  |  | 48,925 |  |  | 49,386 |
Commercial mortgage pass-through securities |  |  | 9,709 |  |  | 9,421 |
Equity securities |  |  | 376 |  |  | 255 |
Other securities |  |  | 4,081 |  |  | 4,134 |
Total |  | $ | 417,470 |  | $ | 419,773 |
Investment Securities Held-to-Maturity : |  |  |  |  |  |  |
Due after one year through five years |  | $ | 13,978 |  | $ | 13,864 |
Due after five years through ten years |  |  | 9,531 |  |  | 9,592 |
Due after ten years |  |  | 108,312 |  |  | 107,031 |
Commercial mortgage pass-through securities |  |  | 4,965 |  |  | 4,867 |
Total |  | $ | 136,786 |  | $ | 135,354 |
Total investment securities |  | $ | 554,256 |  | $ | 555,127 |
Schedule of Realized Gains and Losses |
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Gross gains on sales of investment securities |  | $ | 600 |  | $ | 653 |  | $ | 1,032 |  | $ | 1,648 |
Gross losses on sales of investment securities |  |  | — |  |  | — |  |  | 89 |  |  | — |
Net gains on sales of investment securities |  | $ | 600 |  | $ | 653 |  | $ | 943 |  | $ | 1,648 |
Schedule of OTTI Charges for period |
|  | Three Months Ended |  | Six Months Ended |
|  | June 30, |  | June 30, |
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Other than temporary impairment charges |  | $ | — |  | $ | 28 |  | $ | — |  | $ | 28 |
Principal losses on a variable rate CMO |  |  | — |  |  | 112 |  |  | 24 |  |  | 170 |
Total other-than-temporary impairment charges |  | $ | — |  | $ | 140 |  | $ | 24 |  | $ | 198 |
Schedule of preferred security and associated ratings |
Deal Name |  | Single Issuer or Pooled |  | Class/ Tranche |  | Amortized Cost |  | Fair Value |  | Gross Unrealized Gain (Loss) |  | Lowest Credit Rating Assigned |  | Number of Banks Currently Performing |  |  | Deferrals and Defaults as % of Original Collateral |  |  | Expected Deferral/Defaults as % of Remaining Performing Collateral |  |
|  | (dollars in thousands) |  |
Countrywide Capital IV |  | Single |  |  | — |  | $ | 1,770 |  | $ | 1,772 |  | $ | 2 |  | BB+ |  |  | 1 |  |  |  | None |  |  |  | None |  |
Countrywide Capital V |  | Single |  |  | — |  |  | 2,747 |  |  | 2,768 |  |  | 21 |  | BB+ |  |  | 1 |  |  |  | None |  |  |  | None |  |
Countrywide Capital V |  | Single |  |  | — |  |  | 250 |  |  | 252 |  |  | 2 |  | BB+ |  |  | 1 |  |  |  | None |  |  |  | None |  |
Citigroup Cap IX |  | Single |  |  | — |  |  | 992 |  |  | 1,001 |  |  | 9 |  | BB |  |  | 1 |  |  |  | None |  |  |  | None |  |
Citigroup Cap IX |  | Single |  |  | — |  |  | 1,906 |  |  | 1,931 |  |  | 25 |  | BB |  |  | 1 |  |  |  | None |  |  |  | None |  |
Citigroup Cap XI |  | Single |  |  | — |  |  | 246 |  |  | 249 |  |  | 3 |  | BB |  |  | 1 |  |  |  | None |  |  |  | None |  |
Nationsbank Cap Trust III |  | Single |  |  | — |  |  | 1,573 |  |  | 1,260 |  |  | (313) |  | BB+ |  |  | 1 |  |  |  | None |  |  |  | None |  |
Morgan Stanley Cap Trust IV |  | Single |  |  | — |  |  | 2,500 |  |  | 2,490 |  |  | (10) |  | BB+ |  |  | 1 |  |  |  | None |  |  |  | None |  |
Morgan Stanley Cap Trust IV |  | Single |  |  | — |  |  | 1,742 |  |  | 1,742 |  |  | — |  | BB+ |  |  | 1 |  |  |  | None |  |  |  | None |  |
Saturns — GS 2004-04 |  | Single |  |  | — |  |  | 535 |  |  | 546 |  |  | 11 |  | BB+ |  |  | 1 |  |  |  | None |  |  |  | None |  |
Goldman Sachs |  | Single |  |  | — |  |  | 1,000 |  |  | 953 |  |  | (47) |  | BB+ |  |  | 1 |  |  |  | None |  |  |  | None |  |
Stifel Financial |  | Single |  |  | — |  |  | 4,500 |  |  | 4,651 |  |  | 151 |  | BBB- |  |  | 1 |  |  |  | None |  |  |  | None |  |
ALESCO Preferred Funding VII |  | Pooled |  |  | C1 |  |  | 859 |  |  | 72 |  |  | (787) |  | Ca |  |  | 47 of 61 | (1) |  |  | 35.9 | % |  |  | 34.5 | % |
Total |  |  |  |  |  |  | $ | 20,620 |  | $ | 19,687 |  | $ | (933) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit loss portion of OTTI recognized in earnings on debt securities |
|  | Six Months Ended June 30, 2013 |  | Year Ended December 31, 2012 |
|  | (in thousands) |
Balance of credit-related OTTI at January 1, |  | $ | 4,450 |  | $ | 6,539 |
Addition: |  |  |  |  |  |  |
Credit losses on investment securities for which other-than-temporary impairment was not previously recognized |  |  | 24 |  |  | 870 |
Reduction: |  |  |  |  |  |  |
Credit losses on investment securities sold during the period |  |  | (2,114) |  |  | (2,959) |
Balance of credit-related OTTI at period end |  | $ | 2,360 |  | $ | 4,450 |
Schedule of unrealized losses not recognized in income |
|  | June 30, 2013 |
|  | Total |  | Less than 12 Months |  | 12 Months or Longer |
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |
|  | (in thousands) |
Investment Securities Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency securities |  | $ | 42,138 |  | $ | (1,312) |  | $ | 42,138 |  | $ | (1,312) |  | $ | — |  | $ | — |
Federal agency obligations |  |  | 9,709 |  |  | (437) |  |  | 9,709 |  |  | (437) |  |  | — |  |  | — |
Residential mortgage pass-through securities |  |  | 10,045 |  |  | (221) |  |  | 10,045 |  |  | (221) |  |  | — |  |  | — |
Commercial mortgage pass-through securities |  |  | 9,421 |  |  | (288) |  |  | 9,421 |  |  | (288) |  |  | — |  |  | — |
Obligations of U.S. states and political subdivisions |  |  | 2,226 |  |  | (25) |  |  | 2,226 |  |  | (25) |  |  | — |  |  | — |
Trust preferred securities |  |  | 6,517 |  |  | (1,157) |  |  | 5,184 |  |  | (58) |  |  | 1,333 |  |  | (1,099) |
Corporate bonds and notes |  |  | 52,520 |  |  | (2,128) |  |  | 50,554 |  |  | (2,096) |  |  | 1,966 |  |  | (32) |
Certificates of deposit |  |  | 807 |  |  | (29) |  |  | 807 |  |  | (29) |  |  | — |  |  | — |
Equity securities |  |  | 255 |  |  | (121) |  |  | — |  |  | — |  |  | 255 |  |  | (121) |
Other securities |  |  | 985 |  |  | (15) |  |  | — |  |  | — |  |  | 985 |  |  | (15) |
Total |  |  | 134,623 |  |  | (5,733) |  |  | 130,084 |  |  | (4,466) |  |  | 4,539 |  |  | (1,267) |
Investment Securities Held-to-Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage pass-through securities |  |  | 4,867 |  |  | (98) |  |  | 4,399 |  |  | (92) |  |  | 468 |  |  | (6) |
Obligations of U.S. states and political subdivisions |  |  | 67,011 |  |  | (3,365) |  |  | 67,011 |  |  | (3,365) |  |  | — |  |  | — |
Corporate bonds and notes |  |  | 10,009 |  |  | (82) |  |  | 10,009 |  |  | (82) |  |  | — |  |  | — |
Total |  |  | 81,887 |  |  | (3,545) |  |  | 81,419 |  |  | (3,539) |  |  | 468 |  |  | (6) |
Total Temporarily Impaired Securities |  | $ | 216,510 |  | $ | (9,278) |  | $ | 211,503 |  | $ | (8,005) |  | $ | 5,007 |  | $ | (1,273) |
|  | December 31, 2012 |
|  | Total |  | Less than 12 Months |  | 12 Months or Longer |
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |
|  | (in thousands) |
Investment Securities Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency securities |  | $ | 4,460 |  | $ | (23) |  | $ | 4,460 |  | $ | (23) |  | $ | — |  | $ | — |
Federal agency obligation |  |  | 877 |  |  | (5) |  |  | 877 |  |  | (5) |  |  | — |  |  | — |
Residential mortgage pass-through securities |  |  | 1,669 |  |  | (1) |  |  | 1,669 |  |  | (1) |  |  | — |  |  | — |
Obligations of U.S. states and political subdivisions |  |  | 18,360 |  |  | (132) |  |  | 18,360 |  |  | (132) |  |  | — |  |  | — |
Trust preferred securities |  |  | 11,740 |  |  | (1,174) |  |  | 10,494 |  |  | (18) |  |  | 1,246 |  |  | (1,156) |
Corporate bonds and notes |  |  | 26,440 |  |  | (371) |  |  | 18,244 |  |  | (134) |  |  | 8,196 |  |  | (237) |
Certificates of deposit |  |  | 388 |  |  | (10) |  |  | 388 |  |  | (10) |  |  | — |  |  | — |
Equity securities |  |  | 325 |  |  | (210) |  |  | — |  |  | — |  |  | 325 |  |  | (210) |
Other securities |  |  | 985 |  |  | (15) |  |  | — |  |  | — |  |  | 985 |  |  | (15) |
Total |  |  | 65,244 |  |  | (1,941) |  |  | 54,492 |  |  | (323) |  |  | 10,752 |  |  | (1,618) |
Investment Securities Held-to-Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  |  | 932 |  |  | (5) |  |  | 932 |  |  | (5) |  |  | — |  |  | — |
Total |  |  | 932 |  |  | (5) |  |  | 932 |  |  | (5) |  |  | — |  |  | — |
Total Temporarily Impaired Securities |  | $ | 66,176 |  | $ | (1,946) |  | $ | 55,424 |  | $ | (328) |  | $ | 10,752 |  | $ | (1,618) |

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