|
Held To Maturity Securities (Tables)
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3 Months Ended |
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Jun. 30, 2014
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| Held to Maturity Securities [Abstract] |
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| 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 June 30, 2014 and December 31, 2013:
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June 30, 2014 |
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December 31, 2013 |
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|
Amortized |
|
|
Fair |
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|
Amortized |
|
|
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 |
|
|
23,780 |
|
|
24,901 |
|
|
22,549 |
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|
Over 10 years |
|
3,368,697 |
|
|
3,360,926 |
|
|
3,574,156 |
|
|
3,506,018 |
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Total Federal agencies: mortgage-backed securities |
3,393,598 |
|
|
3,384,706 |
|
|
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 |
|
56,674 |
|
|
57,331 |
|
|
38,588 |
|
|
39,075 |
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|
Over 10 years |
|
163,068 |
|
|
160,911 |
|
|
189,999 |
|
|
185,097 |
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Total other agencies |
|
219,742 |
|
|
218,242 |
|
|
228,587 |
|
|
224,172 |
| Total U.S. Government backed agencies |
|
3,613,340 |
|
|
3,602,948 |
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|
3,827,644 |
|
|
3,752,739 |
| Municipal securities: |
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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 |
--- |
|
|
--- |
|
|
--- |
|
|
--- |
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Over 10 years |
|
8,655 |
|
|
8,313 |
|
|
9,023 |
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|
8,159 |
| Total municipal securities |
|
8,655 |
|
|
8,313 |
|
|
9,023 |
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|
8,159 |
| Total held-to-maturity securities |
$ |
3,621,995 |
|
$ |
3,611,261 |
|
$ |
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 June 30, 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 |
| June 30, 2014 |
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| Federal Agencies: |
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|
|
|
|
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Mortgage-backed securities |
$ |
3,393,598 |
|
$ |
22,638 |
|
$ |
(31,530) |
|
$ |
3,384,706 |
| |
Other agencies |
|
219,742 |
|
|
928 |
|
|
(2,428) |
|
|
218,242 |
| Total U.S. Government |
|
|
|
|
|
|
|
|
|
|
|
| |
backed securities |
|
3,613,340 |
|
|
23,566 |
|
|
(33,958) |
|
|
3,602,948 |
| Municipal securities |
|
8,655 |
|
|
--- |
|
|
(342) |
|
|
8,313 |
| Total held-to-maturity securities |
$ |
3,621,995 |
|
$ |
23,566 |
|
$ |
(34,300) |
|
$ |
3,611,261 |
| |
|
|
|
|
|
|
|
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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 |
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|
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 |
|
|
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 |
| June 30, 2014 |
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| Federal Agencies: |
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Mortgage-backed securities |
$ |
1,172,741 |
|
$ |
(12,372) |
|
$ |
574,627 |
|
$ |
(19,158) |
|
$ |
1,747,368 |
|
$ |
(31,530) |
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Other agencies |
|
18,849 |
|
|
(49) |
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|
73,545 |
|
|
(2,379) |
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|
92,394 |
|
|
(2,428) |
| Total U.S. Government backed securities |
|
1,191,590 |
|
|
(12,421) |
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|
648,172 |
|
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(21,537) |
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1,839,762 |
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(33,958) |
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|
|
|
|
|
|
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|
|
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|
|
|
|
|
|
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| Municipal securities |
|
8,313 |
|
|
(342) |
|
|
--- |
|
|
--- |
|
|
8,313 |
|
|
(342) |
| Total temporarily impaired securities |
$ |
1,199,903 |
|
$ |
(12,763) |
|
$ |
648,172 |
|
$ |
(21,537) |
|
$ |
1,848,075 |
|
$ |
(34,300) |
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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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| |
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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| 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) |
|