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INVESTMENT SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2013
INVESTMENT SECURITIES |
Summary of available for sale and held to maturity investment securities |
|  |  |  | Gross |  | Gross |  | Estimated |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair |
|  | Cost |  | Gains |  | Losses |  | Value |
|  | (Dollars in thousands) |
June 30, 2013 |  |  |  |  |  |  |  |  |
Available for Sale |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | $ | 157,342 |  | $ | 1,223 |  | $ | — |  | $ | 158,565 |
States and political subdivisions |  | 190,511 |  | 608 |  | (10,799 | ) | 180,320 |
Corporations |  | 124,584 |  | 880 |  | (2,851 | ) | 122,613 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | 987,252 |  | 7,244 |  | (10,675 | ) | 983,821 |
Non-agency collateralized mortgage obligations |  | 70,052 |  | — |  | (5,319 | ) | 64,733 |
Other |  | 745 |  | 64 |  | — |  | 809 |
Total |  | $ | 1,530,486 |  | $ | 10,019 |  | $ | (29,644 | ) | $ | 1,510,861 |
Held to Maturity |  |  |  |  |  |  |  |  |
Mortgage-backed securities - U.S. Government sponsored entities |  | $ | 254,981 |  | $ | — |  | $ | (9,531 | ) | $ | 245,450 |
December 31, 2012 |  |  |  |  |  |  |  |  |
Available for Sale |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | $ | 278,198 |  | $ | 2,741 |  | $ | — |  | $ | 280,939 |
States and political subdivisions |  | 184,274 |  | 2,831 |  | (1,194 | ) | 185,911 |
Corporations |  | 125,649 |  | 2,360 |  | (63 | ) | 127,946 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | 925,018 |  | 17,548 |  | (1,523 | ) | 941,043 |
Other |  | 866 |  | 40 |  | — |  | 906 |
Total |  | $ | 1,514,005 |  | $ | 25,520 |  | $ | (2,780 | ) | $ | 1,536,745 |
Held to Maturity |  |  |  |  |  |  |  |  |
Mortgage-backed securities - U.S. Government sponsored entities |  | $ | 161,848 |  | $ | 695 |  | $ | (15 | ) | $ | 162,528 |
Schedule of amortized cost and estimated fair value of investment securities by contractual maturity |
|  | June 30, 2013 |
|  | Amortized Cost |  | Estimated Fair Value |
|  | (Dollars in thousands) |
Available for Sale |  |  |  |  |
Due in one year or less |  | $ | 100,261 |  | $ | 100,834 |
Due after one year through five years |  | 136,506 |  | 137,645 |
Due after five years through ten years |  | 93,974 |  | 90,085 |
Due after ten years |  | 141,696 |  | 132,934 |
Mortage-backed securities |  | 1,057,304 |  | 1,048,554 |
Other |  | 745 |  | 809 |
Total |  | $ | 1,530,486 |  | $ | 1,510,861 |
Held to Maturity |  |  |  |  |
Mortage-backed securities |  | $ | 254,981 |  | $ | 245,450 |
Schedule of investment securities in an unrealized loss position |
|  | Less than 12 months |  | 12 months or longer |  | Total |
|  |  |  | Unrealized |  |  |  | Unrealized |  |  |  | Unrealized |
Description of Securities |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses |
|  | (Dollars in thousands) |
At June 30, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions |  | $ | 169,269 |  | $ | (10,799 | ) | $ | — |  | $ | — |  | $ | 169,269 |  | $ | (10,799 | )
Corporations |  | 87,203 |  | (2,851 | ) | — |  | — |  | 87,203 |  | (2,851 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | 685,319 |  | (20,206 | ) | — |  | — |  | 685,319 |  | (20,206 | )
Non-agency collateralized mortgage obligations |  | 64,733 |  | (5,319 | ) | — |  | — |  | 64,733 |  | (5,319 | )
Total temporarily impaired securities |  | $ | 1,006,524 |  | $ | (39,175 | ) | $ | — |  | $ | — |  | $ | 1,006,524 |  | $ | (39,175 | )
At December 31, 2012: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions |  | $ | 73,128 |  | $ | (1,194 | ) | $ | — |  | $ | — |  | $ | 73,128 |  | $ | (1,194 | )
Corporations |  | 23,205 |  | (63 | ) | — |  | — |  | 23,205 |  | (63 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | 206,981 |  | (1,538 | ) | — |  | — |  | 206,981 |  | (1,538 | )
Total temporarily impaired securities |  | $ | 303,314 |  | $ | (2,795 | ) | $ | — |  | $ | — |  | $ | 303,314 |  | $ | (2,795 | )

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + 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 + Details
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