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Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2012
Investment Securities [Abstract] |
The amortized cost and estimated fair value of available-for-sale securities, including gross unrealized gains and losses | The amortized cost and estimated fair value of available-for-sale securities, including gross unrealized gains and losses, at June 30, 2012, and December 31, 2011, were as follows:
|  | June 30, 2012 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |  |  | OTTI in AOCI(1) |
Municipal securities |  | $ | 144,940 |  |  | $ | 7,249 |  |  | $ | (198 | ) |  | $ | 151,991 |  |  | $ | — |
Single issue trust preferred securities |  |  | 55,678 |  |  |  | — |  |  |  | (11,172 | ) |  |  | 44,506 |  |  |  | — |
Corporate FDIC insured securities |  |  | 13,540 |  |  |  | 10 |  |  |  | — |  |  |  | 13,550 |  |  |  | — |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  | 300,036 |  |  |  | 6,310 |  |  |  | (257 | ) |  |  | 306,089 |  |  |  | — |
Non-Agency Alt-A residential |  |  | 15,533 |  |  |  | — |  |  |  | (5,607 | ) |  |  | 9,926 |  |  |  | (5,607 | )
Total mortgage-backed securities |  |  | 315,569 |  |  |  | 6,310 |  |  |  | (5,864 | ) |  |  | 316,015 |  |  |  | (5,607 | )
Equity securities |  |  | 419 |  |  |  | 220 |  |  |  | (94 | ) |  |  | 545 |  |  |  | — |
Total |  | $ | 530,146 |  |  | $ | 13,789 |  |  | $ | (17,328 | ) |  | $ | 526,607 |  |  | $ | (5,607 | )
|  | December 31, 2011 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |  |  | OTTI in AOCI(1) |
Municipal securities |  | $ | 131,498 |  |  | $ | 6,317 |  |  | $ | — |  |  | $ | 137,815 |  |  | $ | — |
Single issue trust preferred securities |  |  | 55,649 |  |  |  | — |  |  |  | (15,405 | ) |  |  | 40,244 |  |  |  | — |
Corporate FDIC insured securities |  |  | 13,685 |  |  |  | 33 |  |  |  | — |  |  |  | 13,718 |  |  |  | — |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  | 274,384 |  |  |  | 6,003 |  |  |  | (285 | ) |  |  | 280,102 |  |  |  | — |
Non-Agency Alt-A residential |  |  | 15,980 |  |  |  | — |  |  |  | (5,950 | ) |  |  | 10,030 |  |  |  | (5,950 | )
Total mortgage-backed securities |  |  | 290,364 |  |  |  | 6,003 |  |  |  | (6,235 | ) |  |  | 290,132 |  |  |  | (5,950 | )
Equity securities |  |  | 419 |  |  |  | 206 |  |  |  | (104 | ) |  |  | 521 |  |  |  | — |
Total |  | $ | 491,615 |  |  | $ | 12,559 |  |  | $ | (21,744 | ) |  | $ | 482,430 |  |  | $ | (5,950 | )
(1) | Other-than-temporary impairment in accumulated other comprehensive income
The amortized cost and estimated fair value of held-to-maturity securities, including gross unrealized gains and losses | The amortized cost and estimated fair value of held-to-maturity securities, including gross unrealized gains and losses, at June 30, 2012, and December 31, 2011, were as follows:
|  | June 30, 2012 |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
(Amounts in thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Municipal securities |  | $ | 1,295 |  |  | $ | 24 |  |  | $ | (1 | ) |  | $ | 1,318 |
Total |  | $ | 1,295 |  |  | $ | 24 |  |  | $ | (1 | ) |  | $ | 1,318 |
|  | December 31, 2011 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Municipal securities |  | $ | 3,490 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 3,532 |
Total |  | $ | 3,490 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 3,532 |
The amortized cost and estimated fair value of available-for-sale and held-to-maturity securities by contractual maturity | The amortized cost and estimated fair value of available-for-sale and held-to-maturity securities by contractual maturity at June 30, 2012, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
(Amounts in thousands) |  | Amortized Cost |  |  | Fair Value |
Available-for-sale securities |  |  |  |  |  |  |  |
Due within one year |  | $ | 14,646 |  |  | $ | 14,657 |
Due after one year but within five years |  |  | 17,311 |  |  |  | 17,978 |
Due after five years but within ten years |  |  | 19,262 |  |  |  | 20,238 |
Due after ten years |  |  | 162,939 |  |  |  | 157,174 |
|  |  | 214,158 |  |  |  | 210,047 |
Mortgage-backed securities |  |  | 315,569 |  |  |  | 316,015 |
Equity securities |  |  | 419 |  |  |  | 545 |
Total |  | $ | 530,146 |  |  | $ | 526,607 |
Held-to-maturity securities |  |  |  |  |  |  |  |
Due within one year |  | $ | 430 |  |  | $ | 434 |
Due after one year but within five years |  |  | 865 |  |  |  | 884 |
Due after five years but within ten years |  |  | — |  |  |  | — |
Due after ten years |  |  | — |  |  |  | — |
Total |  | $ | 1,295 |  |  | $ | 1,318 |
Available-for-sale securities in a continuous unrealized loss position | Available-for-sale securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer at June 30, 2012, and December 31, 2011 were as follows:
|  | June 30, 2012 |
|  | Less than 12 Months |  |  | 12 Months or longer |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(Amounts in thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Municipal securities |  | $ | 12,610 |  |  | $ | (198 | ) |  | $ | — |  |  | $ | — |  |  | $ | 12,610 |  |  | $ | (198 | )
Single issue trust preferred securities |  |  | — |  |  |  | — |  |  |  | 44,506 |  |  |  | (11,172 | ) |  |  | 44,506 |  |  |  | (11,172 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  | 52,932 |  |  |  | (252 | ) |  |  | 11,790 |  |  |  | (5 | ) |  |  | 64,722 |  |  |  | (257 | )
Non-Agency Alt-A residential |  |  | — |  |  |  | — |  |  |  | 9,925 |  |  |  | (5,607 | ) |  |  | 9,925 |  |  |  | (5,607 | )
Total mortgage-backed securities |  |  | 52,932 |  |  |  | (252 | ) |  |  | 21,715 |  |  |  | (5,612 | ) |  |  | 74,647 |  |  |  | (5,864 | )
Equity securities |  |  | — |  |  |  | — |  |  |  | 94 |  |  |  | (94 | ) |  |  | 94 |  |  |  | (94 | )
Total |  | $ | 65,542 |  |  | $ | (450 | ) |  | $ | 66,315 |  |  | $ | (16,878 | ) |  | $ | 131,857 |  |  | $ | (17,328 | )
|  | December 31, 2011 |
|  | Less than 12 Months |  |  | 12 Months or longer |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(Amounts in thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Municipal securities |  | $ | — |  |  | $ | — |  |  | $ | 40,244 |  |  | $ | (15,405 | ) |  | $ | 40,244 |  |  | $ | (15,405 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  | 52,300 |  |  |  | (285 | ) |  |  | — |  |  |  | — |  |  |  | 52,300 |  |  |  | (285 | )
Non-Agency Alt-A residential |  |  | — |  |  |  | — |  |  |  | 10,030 |  |  |  | (5,950 | ) |  |  | 10,030 |  |  |  | (5,950 | )
Total mortgage-backed securities |  |  | 52,300 |  |  |  | (285 | ) |  |  | 10,030 |  |  |  | (5,950 | ) |  |  | 62,330 |  |  |  | (6,235 | )
Equity securities |  |  | — |  |  |  | — |  |  |  | 188 |  |  |  | (104 | ) |  |  | 188 |  |  |  | (104 | )
Total |  | $ | 52,300 |  |  | $ | (285 | ) |  | $ | 50,462 |  |  | $ | (21,459 | ) |  | $ | 102,762 |  |  | $ | (21,744 | )
Company's gross gains and gross losses realized from the sale of securities | The following table details the Company’s gross gains and gross losses realized from the sale of securities for the three and six months ended June 30, 2012 and 2011.
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(Amounts in thousands) |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Gross realized gains |  | $ | 30 |  |  | $ | 4,325 |  |  | $ | 119 |  |  | $ | 6,681 |
Gross realized losses |  |  | (39 | ) |  |  | (1,101 | ) |  |  | (77 | ) |  |  | (1,621 | )
Net (loss) gain on sale of securities |  | $ | (9 | ) |  | $ | 3,224 |  |  | $ | 42 |  |  | $ | 5,060 |
Cumulative roll forward of credit losses recognized in earnings for debt securities for which a portion of the OTTI is recognized in OCI: | The following table provides a cumulative roll forward of credit losses recognized in earnings for debt securities for which a portion of the OTTI is recognized in OCI:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(Amounts in thousands) |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Beginning balance (1) |  | $ | 6,536 |  |  | $ | 4,778 |  |  | $ | 6,536 |  |  | $ | 4,251 |
Additions for credit losses on securities not previously recognized |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Additions for credit losses on securities previously recognized |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 527 |
Reduction for increases in cash flows |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Reduction for securities management no longer intends to hold to recovery |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Reduction for securities sold/realized losses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Ending balance |  | $ | 6,536 |  |  | $ | 4,778 |  |  | $ | 6,536 |  |  | $ | 4,778 |
(1) | The beginning balance includes credit related losses included in OTTI charges recognized on debt securities in prior periods.

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- Definition Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6435544&loc=d3e41834-113960 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5086-111524 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 137 -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 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 5: 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 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 7: 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 8: 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 9: 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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