|
Held To Maturity Securities (Tables)
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3 Months Ended |
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Mar. 31, 2014
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| 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 March 31, 2014 and December 31, 2013:
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March 31, 2014 |
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December 31, 2013 |
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|
Amortized |
|
|
Fair |
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|
Amortized |
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|
Fair |
| (dollar amounts in thousands) |
|
Cost |
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|
Value |
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|
Cost |
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|
Value |
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Federal agencies: mortgage-backed securities: |
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|
|
|
|
|
|
|
|
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Under 1 year |
$ |
--- |
|
$ |
--- |
|
$ |
--- |
|
$ |
--- |
| |
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
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|
6-10 years |
|
24,901 |
|
|
23,222 |
|
|
24,901 |
|
|
22,549 |
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|
Over 10 years |
|
3,478,163 |
|
|
3,450,923 |
|
|
3,574,156 |
|
|
3,506,018 |
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Total Federal agencies: mortgage-backed securities |
3,503,064 |
|
|
3,474,145 |
|
|
3,599,057 |
|
|
3,528,567 |
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Other agencies: |
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|
|
|
|
|
|
|
|
|
|
| |
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Under 1 year |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
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|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
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|
6-10 years |
|
57,431 |
|
|
57,652 |
|
|
38,588 |
|
|
39,075 |
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|
Over 10 years |
|
165,424 |
|
|
161,433 |
|
|
189,999 |
|
|
185,097 |
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Total other agencies |
|
222,855 |
|
|
219,085 |
|
|
228,587 |
|
|
224,172 |
| Total U.S. Government backed agencies |
|
3,725,919 |
|
|
3,693,230 |
|
|
3,827,644 |
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|
3,752,739 |
| Municipal securities: |
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|
|
|
|
|
|
|
|
|
|
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Under 1 year |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
| |
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
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6-10 years |
--- |
|
|
--- |
|
|
--- |
|
|
--- |
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Over 10 years |
|
8,804 |
|
|
8,266 |
|
|
9,023 |
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|
8,159 |
| Total municipal securities |
|
8,804 |
|
|
8,266 |
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|
9,023 |
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|
8,159 |
| Total held-to-maturity securities |
$ |
3,734,723 |
|
$ |
3,701,496 |
|
$ |
3,836,667 |
|
$ |
3,760,898 |
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| 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 March 31, 2014 and December 31, 2013:
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Unrealized |
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Amortized |
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Gross |
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Gross |
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Fair |
| (dollar amounts in thousands) |
|
Cost |
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Gains |
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|
Losses |
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|
Value |
| March 31, 2014 |
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| Federal Agencies: |
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|
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|
|
|
|
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Mortgage-backed securities |
$ |
3,503,064 |
|
$ |
13,868 |
|
$ |
(42,787) |
|
$ |
3,474,145 |
| |
Other agencies |
|
222,855 |
|
|
654 |
|
|
(4,424) |
|
|
219,085 |
| Total U.S. Government |
|
|
|
|
|
|
|
|
|
|
|
| |
backed securities |
|
3,725,919 |
|
|
14,522 |
|
|
(47,211) |
|
|
3,693,230 |
| Municipal securities |
|
8,804 |
|
|
--- |
|
|
(538) |
|
|
8,266 |
| Total held-to-maturity securities |
$ |
3,734,723 |
|
$ |
14,522 |
|
$ |
(47,749) |
|
$ |
3,701,496 |
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|
|
|
|
|
|
|
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|
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Unrealized |
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|
|
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Amortized |
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|
Gross |
|
|
Gross |
|
|
Fair |
| (dollar amounts in thousands) |
|
Cost |
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Gains |
|
|
Losses |
|
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Value |
| December 31, 2013 |
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| Federal Agencies: |
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|
|
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|
|
|
|
|
|
|
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Mortgage-backed securities |
$ |
3,599,057 |
|
$ |
5,573 |
|
$ |
(76,063) |
|
$ |
3,528,567 |
| |
Other agencies |
|
228,587 |
|
|
776 |
|
|
(5,191) |
|
|
224,172 |
| Total U.S. Government |
|
|
|
|
|
|
|
|
|
|
|
| |
backed securities |
|
3,827,644 |
|
|
6,349 |
|
|
(81,254) |
|
|
3,752,739 |
| Municipal securities |
|
9,023 |
|
|
--- |
|
|
(864) |
|
|
8,159 |
| Total held-to-maturity securities |
$ |
3,836,667 |
|
$ |
6,349 |
|
$ |
(82,118) |
|
$ |
3,760,898 |
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| Investment securities in an unrealized loss position |
| |
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Less than 12 Months |
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Over 12 Months |
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Total |
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Fair |
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Unrealized |
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|
Fair |
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Unrealized |
|
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Fair |
|
|
Unrealized |
| (dollar amounts in thousands ) |
|
Value |
|
|
Losses |
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|
Value |
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|
Losses |
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|
Value |
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|
Losses |
| March 31, 2014 |
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| Federal Agencies: |
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| |
Mortgage-backed securities |
$ |
2,442,257 |
|
$ |
(41,107) |
|
$ |
23,222 |
|
$ |
(1,680) |
|
$ |
2,465,479 |
|
$ |
(42,787) |
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Other agencies |
|
160,958 |
|
|
(4,424) |
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|
--- |
|
|
--- |
|
|
160,958 |
|
|
(4,424) |
| Total U.S. Government backed securities |
|
2,603,215 |
|
|
(45,531) |
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|
23,222 |
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(1,680) |
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|
2,626,437 |
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(47,211) |
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|
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|
|
|
|
|
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|
|
|
|
|
|
|
|
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| Municipal securities |
|
8,266 |
|
|
(538) |
|
|
--- |
|
|
--- |
|
|
8,266 |
|
|
(538) |
| Total temporarily impaired securities |
$ |
2,611,481 |
|
$ |
(46,069) |
|
$ |
23,222 |
|
$ |
(1,680) |
|
$ |
2,634,703 |
|
$ |
(47,749) |
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Less than 12 Months |
|
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Over 12 Months |
|
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Total |
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Fair |
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Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
| (dollar amounts in thousands ) |
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
| December 31, 2013 |
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| Federal Agencies: |
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|
|
|
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|
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Mortgage-backed securities |
$ |
2,849,198 |
|
$ |
(73,711) |
|
$ |
22,548 |
|
$ |
(2,352) |
|
$ |
2,871,746 |
|
$ |
(76,063) |
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Other agencies |
|
144,417 |
|
|
(5,191) |
|
|
--- |
|
|
--- |
|
|
144,417 |
|
|
(5,191) |
| Total U.S. Government backed securities |
|
2,993,615 |
|
|
(78,902) |
|
|
22,548 |
|
|
(2,352) |
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|
3,016,163 |
|
|
(81,254) |
| |
|
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|
|
|
|
|
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|
|
|
|
|
|
|
|
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| Municipal securities |
|
8,159 |
|
|
(864) |
|
|
--- |
|
|
--- |
|
|
8,159 |
|
|
(864) |
| Total temporarily impaired securities |
$ |
3,001,774 |
|
$ |
(79,766) |
|
$ |
22,548 |
|
$ |
(2,352) |
|
$ |
3,024,322 |
|
$ |
(82,118) |
|