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Investment Securities (Tables) | 9 Months Ended
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Sep. 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 September 30, 2012, and December 31, 2011, were as follows:
|  | September 30, 2012 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |  |  | OTTI in AOCI(1) |
Municipal securities |  | $ | 147,134 |  |  | $ | 8,801 |  |  | $ | (7 | ) |  | $ | 155,928 |  |  | $ | — |
Single issue trust preferred securities |  |  | 55,692 |  |  |  | — |  |  |  | (13,095 | ) |  |  | 42,597 |  |  |  | — |
Corporate FDIC insured securities |  |  | 13,467 |  |  |  | 12 |  |  |  | — |  |  |  | 13,479 |  |  |  | — |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  | 281,009 |  |  |  | 7,394 |  |  |  | (120 | ) |  |  | 288,283 |  |  |  | — |
Non-Agency Alt-A residential |  |  | 14,230 |  |  |  | — |  |  |  | (3,018 | ) |  |  | 11,212 |  |  |  | (3,018 | )
Total mortgage-backed securities |  |  | 295,239 |  |  |  | 7,394 |  |  |  | (3,138 | ) |  |  | 299,495 |  |  |  | (3,018 | )
Equity securities |  |  | 5,556 |  |  |  | 218 |  |  |  | (112 | ) |  |  | 5,662 |  |  |  | — |
Total |  | $ | 517,088 |  |  | $ | 16,425 |  |  | $ | (16,352 | ) |  | $ | 517,161 |  |  | $ | (3,018 | )
|  | 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 September 30, 2012, and December 31, 2011, were as follows:
|  | September 30, 2012 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Municipal securities |  | $ | 816 |  |  | $ | 9 |  |  | $ | — |  |  | $ | 825 |
Total |  | $ | 816 |  |  | $ | 9 |  |  | $ | — |  |  | $ | 825 |
|  | 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 September 30, 2012, are shown below.
(Amounts in thousands) |  | Amortized Cost |  |  | Fair Value |
Available-for-sale securities |  |  |  |  |  |  |  |
Due within one year |  | $ | 14,567 |  |  | $ | 14,580 |
Due after one year but within five years |  |  | 16,957 |  |  |  | 17,592 |
Due after five years but within ten years |  |  | 19,505 |  |  |  | 20,561 |
Due after ten years |  |  | 165,264 |  |  |  | 159,271 |
|  |  | 216,293 |  |  |  | 212,004 |
Mortgage-backed securities |  |  | 295,239 |  |  |  | 299,495 |
Equity securities |  |  | 5,556 |  |  |  | 5,662 |
Total |  | $ | 517,088 |  |  | $ | 517,161 |
Held-to-maturity securities |  |  |  |  |  |  |  |
Due within one year |  | $ | 60 |  |  | $ | 61 |
Due after one year but within five years |  |  | 756 |  |  |  | 764 |
Due after five years but within ten years |  |  | — |  |  |  | — |
Due after ten years |  |  | — |  |  |  | — |
Total |  | $ | 816 |  |  | $ | 825 |
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 September 30, 2012, and December 31, 2011 were as follows:
|  | September 30, 2012 |
|  | Less than 12 Months |  |  | 12 Months or longer |  |  | Total |
(Amounts in thousands) |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Municipal securities |  | $ | 1,824 |  |  | $ | (7 | ) |  | $ | — |  |  | $ | — |  |  | $ | 1,824 |  |  | $ | (7 | )
Single issue trust preferred securities |  |  | — |  |  |  | — |  |  |  | 42,598 |  |  |  | (13,095 | ) |  |  | 42,598 |  |  |  | (13,095 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  | 22,444 |  |  |  | (120 | ) |  |  | 16 |  |  |  | — |  |  |  | 22,460 |  |  |  | (120 | )
Non-Agency Alt-A residential |  |  | — |  |  |  | — |  |  |  | 11,212 |  |  |  | (3,018 | ) |  |  | 11,212 |  |  |  | (3,018 | )
Total mortgage-backed securities |  |  | 22,444 |  |  |  | (120 | ) |  |  | 11,228 |  |  |  | (3,018 | ) |  |  | 33,672 |  |  |  | (3,138 | )
Equity securities |  |  | 5,114 |  |  |  | (22 | ) |  |  | 98 |  |  |  | (90 | ) |  |  | 5,212 |  |  |  | (112 | )
Total |  | $ | 29,382 |  |  | $ | (149 | ) |  | $ | 53,924 |  |  | $ | (16,203 | ) |  | $ | 83,306 |  |  | $ | (16,352 | )
|  | December 31, 2011 |
|  | Less than 12 Months |  |  | 12 Months or longer |  |  | Total |
(Amounts in thousands) |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized 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 nine months ended September 30, 2012 and 2011.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(Amounts in thousands) |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Gross realized gains |  | $ | 315 |  |  | $ | 208 |  |  | $ | 434 |  |  | $ | 6,889 |
Gross realized losses |  |  | (87 | ) |  |  | (30 | ) |  |  | (164 | ) |  |  | (1,651 | )
Net (loss) gain on sale of securities |  | $ | 228 |  |  | $ | 178 |  |  | $ | 270 |  |  | $ | 5,238 |
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 September 30, |  |  | Nine Months Ended September 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 |  |  | 942 |  |  |  | 210 |  |  |  | 942 |  |  |  | 737 |
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 |  | $ | 7,478 |  |  | $ | 4,988 |  |  | $ | 7,478 |  |  | $ | 4,988 |
(1) | The beginning balance includes credit related losses included in OTTI charges recognized on debt securities in prior periods.

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