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INVESTMENT SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2014
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) |
At March 31, 2014: |  |  |  |  |  |  |  |  |
Held to Maturity: |  |  |  |  |  |  |  |  |
Mortgage-backed securities - U.S. Government sponsored entities |  | $ | 248,788 |  | $ | — |  | $ | (10,006 | ) | $ | 238,782 |
Available for Sale: |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |
States and political subdivisions |  | $ | 191,556 |  | $ | 861 |  | $ | (7,291 | ) | $ | 185,126 |
Corporate securities |  | 156,686 |  | 2,332 |  | (727 | ) | 158,291 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | 902,088 |  | 6,948 |  | (9,970 | ) | 899,066 |
Non-agency collateralized mortgage obligations |  | 166,535 |  | 1,423 |  | (3,099 | ) | 164,859 |
Other |  | 672 |  | 110 |  | — |  | 782 |
Total |  | $ | 1,417,537 |  | $ | 11,674 |  | $ | (21,087 | ) | $ | 1,408,124 |
At December 31, 2013: |  |  |  |  |  |  |  |  |
Held to Maturity: |  |  |  |  |  |  |  |  |
Mortgage-backed securities - U.S. Government sponsored entities |  | $ | 252,047 |  | $ | — |  | $ | (13,342 | ) | $ | 238,705 |
Available for Sale: |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |
States and political subdivisions |  | $ | 191,158 |  | $ | 305 |  | $ | (12,106 | ) | $ | 179,357 |
Corporate securities |  | 157,337 |  | 1,878 |  | (1,120 | ) | 158,095 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | 936,144 |  | 7,085 |  | (15,603 | ) | 927,626 |
Non-agency collateralized mortgage obligations |  | 147,902 |  | 81 |  | (5,937 | ) | 142,046 |
Other |  | 755 |  | 120 |  | — |  | 875 |
Total |  | $ | 1,433,296 |  | $ | 9,469 |  | $ | (34,766 | ) | $ | 1,407,999 |
Schedule of amortized cost and estimated fair value of investment securities by contractual maturity |
|  | March 31, 2014 |
|  | Amortized Cost |  | Estimated Fair Value |
|  | (Dollars in thousands) |
Held to Maturity |  |  |  |  |
Mortage-backed securities |  | $ | 248,788 |  | $ | 238,782 |
Available for Sale |  |  |  |  |
Due in one year or less |  | $ | 2,188 |  | $ | 2,192 |
Due after one year through five years |  | 98,528 |  | 100,233 |
Due after five years through ten years |  | 122,509 |  | 121,335 |
Due after ten years |  | 125,017 |  | 119,657 |
Mortage-backed securities |  | 1,068,623 |  | 1,063,925 |
Other |  | 672 |  | 782 |
Total |  | $ | 1,417,537 |  | $ | 1,408,124 |
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 March 31, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions |  | $ | 101,558 |  | $ | (4,194 | ) | $ | 48,502 |  | $ | (3,097 | ) | $ | 150,060 |  | $ | (7,291 | )
Corporate securities |  | 58,999 |  | (727 | ) | — |  | — |  | 58,999 |  | (727 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | 802,107 |  | (19,176 | ) | 17,192 |  | (800 | ) | 819,299 |  | (19,976 | )
Non-agency collateralized mortgage obligations |  | 78,555 |  | (3,099 | ) | — |  | — |  | 78,555 |  | (3,099 | )
Total temporarily impaired securities |  | $ | 1,041,219 |  | $ | (27,196 | ) | $ | 65,694 |  | $ | (3,897 | ) | $ | 1,106,913 |  | $ | (31,093 | )
At December 31, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions |  | $ | 137,176 |  | $ | (8,985 | ) | $ | 32,747 |  | $ | (3,121 | ) | $ | 169,923 |  | $ | (12,106 | )
Corporate securities |  | 75,368 |  | (1,120 | ) | — |  | — |  | 75,368 |  | (1,120 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities |  | 909,585 |  | (28,386 | ) | 4,848 |  | (559 | ) | 914,433 |  | (28,945 | )
Non-agency collateralized mortgage obligations |  | 129,991 |  | (5,937 | ) | — |  | — |  | 129,991 |  | (5,937 | )
Total temporarily impaired securities |  | $ | 1,252,120 |  | $ | (44,428 | ) | $ | 37,595 |  | $ | (3,680 | ) | $ | 1,289,715 |  | $ | (48,108 | )

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