Quarterly report pursuant to Section 13 or 15(d)

HELD-TO-MATURITY SECURITIES (Tables)

v3.3.0.814
HELD-TO-MATURITY SECURITIES (Tables)
9 Months Ended
Sep. 30, 2015
Held-to-maturity Securities [Abstract]  
Contractual maturities of held-to-maturity securities
Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of held-to-maturity securities at September 30, 2015 and December 31, 2014:
 
September 30, 2015
 
December 31, 2014
(dollar amounts in thousands)
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Federal agencies: mortgage-backed securities:
 
 
 
 
 
 
 
1 year or less
$

 
$

 
$

 
$

After 1 year through 5 years

 

 

 

After 5 years through 10 years
24,901

 
24,783

 
24,901

 
24,263

After 10 years
2,769,071

 
2,799,820

 
3,136,460

 
3,140,194

Total Federal agencies: mortgage-backed securities
2,793,972

 
2,824,603

 
3,161,361

 
3,164,457

Other agencies:
 
 
 
 
 
 
 
1 year or less

 

 

 

After 1 year through 5 years

 

 

 

After 5 years through 10 years
106,687

 
109,015

 
54,010

 
54,843

After 10 years
249,813

 
251,151

 
156,553

 
155,821

Total other agencies
356,500

 
360,166

 
210,563

 
210,664

Total U.S. Government backed agencies
3,150,472

 
3,184,769

 
3,371,924

 
3,375,121

Municipal securities:
 
 
 
 
 
 
 
1 year or less

 

 

 

After 1 year through 5 years

 

 

 

After 5 years through 10 years

 

 

 

After 10 years
7,216

 
7,138

 
7,981

 
7,594

Total municipal securities
7,216

 
7,138

 
7,981

 
7,594

Total held-to-maturity securities
$
3,157,688

 
$
3,191,907

 
$
3,379,905

 
$
3,382,715

Amortized cost, gross unrealized gains and losses, and fair value by investment category
The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at September 30, 2015 and December 31, 2014:
 
 
 
Unrealized
 
 
(dollar amounts in thousands)
Amortized
Cost
 
Gross
Gains
 
Gross
Losses
 
Fair Value
September 30, 2015
 
 
 
 
 
 
 
Federal Agencies:
 
 
 
 
 
 
 
Mortgage-backed securities
$
2,793,972

 
$
39,101

 
$
(8,470
)
 
$
2,824,603

Other agencies
356,500

 
3,968

 
(302
)
 
360,166

Total U.S. Government backed agencies
3,150,472

 
43,069

 
(8,772
)
 
3,184,769

Municipal securities
7,216

 

 
(78
)
 
7,138

Total held-to-maturity securities
$
3,157,688

 
$
43,069

 
$
(8,850
)
 
$
3,191,907

 
 
 
Unrealized
 
 
(dollar amounts in thousands)
Amortized
Cost
 
Gross
Gains
 
Gross
Losses
 
Fair Value
December 31, 2014
 
 
 
 
 
 
 
Federal Agencies:
 
 
 
 
 
 
 
Mortgage-backed securities
$
3,161,361

 
$
24,832

 
$
(21,736
)
 
$
3,164,457

Other agencies
210,563

 
1,251

 
(1,150
)
 
210,664

Total U.S. Government backed agencies
3,371,924

 
26,083

 
(22,886
)
 
3,375,121

Municipal securities
7,981

 

 
(387
)
 
7,594

Total held-to-maturity securities
$
3,379,905

 
$
26,083

 
$
(23,273
)
 
$
3,382,715

Investment securities in an unrealized loss position
The following tables provide detail on held-to-maturity securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at September 30, 2015 and December 31, 2014:
 
Less than 12 Months
 
Over 12 Months
 
Total
(dollar amounts in thousands )
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Federal Agencies:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
$
286,835

 
$
(1,200
)
 
$
372,269

 
$
(7,270
)
 
$
659,104

 
$
(8,470
)
Other agencies
110,529

 
(272
)
 
7,073

 
(30
)
 
117,602

 
(302
)
Total U.S. Government backed securities
397,364

 
(1,472
)
 
379,342

 
(7,300
)
 
776,706

 
(8,772
)
Municipal securities

 

 
7,138

 
(78
)
 
7,138

 
(78
)
Total temporarily impaired securities
$
397,364

 
$
(1,472
)
 
$
386,480

 
$
(7,378
)
 
$
783,844

 
$
(8,850
)
 
Less than 12 Months
 
Over 12 Months
 
Total
(dollar amounts in thousands )
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Federal Agencies:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
$
707,934

 
$
(5,550
)
 
$
622,026

 
$
(16,186
)
 
$
1,329,960

 
$
(21,736
)
Other agencies
36,956

 
(198
)
 
71,731

 
(952
)
 
108,687

 
(1,150
)
Total U.S. Government backed securities
744,890

 
(5,748
)
 
693,757

 
(17,138
)
 
1,438,647

 
(22,886
)
Municipal securities
7,594

 
(387
)
 

 

 
7,594

 
(387
)
Total temporarily impaired securities
$
752,484

 
$
(6,135
)
 
$
693,757

 
$
(17,138
)
 
$
1,446,241

 
$
(23,273
)