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Securities Available-For-Sale (Tables)
12 Months Ended
Dec. 31, 2013
Securities [Abstract]  
Comparative Summary Of Mortgage-Backed Securities And Other Securities Available-For-Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

 

Gross

 

Gross

 

Estimated

 

Amortized

 

unrealized

 

unrealized

 

fair

 

cost

 

gains

 

losses

 

value

Mortgage-backed securities:

 

 

 

 

 

 

 

Pass-through certificates:

 

 

 

 

 

 

 

Government sponsored enterprises (GSE)

$      366,884

 

$        8,573

 

$       5,113

 

$       370,344

Real estate mortgage investment conduits (REMICs):

 

 

 

 

 

 

 

GSE

497,575 

 

1,699 

 

14,047 

 

485,227 

Non-GSE

4,474 

 

126 

 

48 

 

4,552 

 

868,933 

 

10,398 

 

19,208 

 

860,123 

Other securities:

 

 

 

 

 

 

 

Equity investments-mutual funds

510 

 

 -

 

 -

 

510 

Corporate bonds

76,491 

 

66 

 

105 

 

76,452 

 

77,001 

 

66 

 

105 

 

76,962 

Total securities available-for-sale

$      945,934

 

$      10,464

 

$     19,313

 

$       937,085

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

 

 

Gross

 

Gross

 

Estimated

 

Amortized

 

unrealized

 

unrealized

 

fair

 

cost

 

gains

 

losses

 

value

Mortgage-backed securities:

 

 

 

 

 

 

 

Pass-through certificates:

 

 

 

 

 

 

 

GSE

$      456,441

 

$       22,996

 

$           99

 

$       479,338

Real estate mortgage investment conduits (REMICs):

 

 

 

 

 

 

 

GSE

694,087 

 

7,092 

 

62 

 

701,117 

Non-GSE

7,543 

 

266 

 

33 

 

7,776 

 

1,158,071 

 

30,354 

 

194 

 

1,188,231 

Other securities:

 

 

 

 

 

 

 

Equity investments-mutual funds

12,998 

 

— 

 

— 

 

12,998 

Corporate bonds

73,708 

 

694 

 

— 

 

74,402 

 

86,706 

 

694 

 

— 

 

87,400 

Total securities available-for-sale

$   1,244,777

 

$       31,048

 

$         194

 

$    1,275,631

 

Summary Of Expected Maturity Distribution Of Debt Securities Available-For-Sale, Other Than Mortgage-Backed Securities

 

 

 

 

 

 

 

 

Available-for-sale

Amortized cost

 

Estimated fair value

Due in one year or less

$                -

 

$                -

Due after one year through five years

76,491 

 

76,452 

 

$      76,491

 

$      76,452

 

Activity Related To Credit Component Recognized In Earnings On Debt Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

Balance, beginning of year

$              -

 

$         578

 

$         330

Additions to the credit component on debt securities in which other-than-temporary

 

 

 

 

 

impairment was not previously recognized

 -

 

 -

 

248 

Reductions due to sales

 -

 

(578)

 

 -

Cumulative pre-tax credit losses, end of year

$              -

 

$              -

 

$         578

 

Gross Unrealized Losses On Mortgage-Backed Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

Less than 12 months

 

12 months or more

 

Total

 

Unrealized

 

Estimated

 

Unrealized

 

Estimated

 

Unrealized

 

Estimated

 

losses

 

fair value

 

losses

 

fair value

 

losses

 

fair value

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

Pass-through certificates:

 

 

 

 

 

 

 

 

 

 

 

GSE

$        5,087

 

$    150,473

 

$             26

 

$      4,482

 

$        5,113

 

$    154,955

REMICs:

 

 

 

 

 

 

 

 

 

 

 

GSE

12,923 

 

283,419 

 

1,124 

 

44,606 

 

14,047 

 

328,025 

Non-GSE

23 

 

1,092 

 

25 

 

442 

 

48 

 

1,534 

Other securities:

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

105 

 

44,763 

 

 -

 

 -

 

105 

 

44,763 

Total

$      18,138

 

$    479,747

 

$        1,175

 

$    49,530

 

$      19,313

 

$    529,277

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

Less than 12 months

 

12 months or more

 

Total

 

Unrealized

 

Estimated

 

Unrealized

 

Estimated

 

Unrealized

 

Estimated

 

losses

 

fair value

 

losses

 

fair value

 

losses

 

fair value

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

Pass-through certificates:

 

 

 

 

 

 

 

 

 

 

 

GSE

$            99

 

$     14,156

 

$               -

 

$            -

 

$            99

 

$     14,156

REMICs:

 

 

 

 

 

 

 

 

 

 

 

GSE

58 

 

100,310 

 

 

7,633 

 

62 

 

107,943 

Non-GSE

 -

 

 -

 

33 

 

604 

 

33 

 

604 

Total

$          157

 

$   114,466

 

$            37

 

$     8,237

 

$          194

 

$   122,703