Held To Maturity Securities (Tables)
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3 Months Ended |
Jun. 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 June 30, 2015 and December 31, 2014:
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|
|
|
June 30, 2015 |
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|
December 31, 2014 |
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|
|
Amortized |
|
|
Fair |
|
|
Amortized |
|
|
Fair |
| (dollar amounts in thousands) |
|
Cost |
|
|
Value |
|
|
Cost |
|
|
Value |
|
Federal agencies: mortgage-backed securities: |
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|
|
|
|
|
|
|
|
|
|
|
|
Under 1 year |
$ |
--- |
|
$ |
--- |
|
$ |
--- |
|
$ |
--- |
|
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
|
6-10 years |
|
24,901 |
|
|
24,476 |
|
|
24,901 |
|
|
24,263 |
|
|
Over 10 years |
|
2,906,086 |
|
|
2,911,305 |
|
|
3,136,460 |
|
|
3,140,194 |
|
Total Federal agencies: mortgage-backed securities |
2,930,987 |
|
|
2,935,781 |
|
|
3,161,361 |
|
|
3,164,457 |
|
Other agencies: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 year |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
|
6-10 years |
|
92,903 |
|
|
94,396 |
|
|
54,010 |
|
|
54,843 |
|
|
Over 10 years |
|
272,671 |
|
|
271,961 |
|
|
156,553 |
|
|
155,821 |
|
Total other agencies |
|
365,574 |
|
|
366,357 |
|
|
210,563 |
|
|
210,664 |
| Total U.S. Government backed agencies |
|
3,296,561 |
|
|
3,302,138 |
|
|
3,371,924 |
|
|
3,375,121 |
| Municipal securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 year |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
6-10 years |
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
Over 10 years |
|
7,599 |
|
|
7,341 |
|
|
7,981 |
|
|
7,594 |
| Total municipal securities |
|
7,599 |
|
|
7,341 |
|
|
7,981 |
|
|
7,594 |
| Total held-to-maturity securities |
$ |
3,304,160 |
|
$ |
3,309,479 |
|
$ |
3,379,905 |
|
$ |
3,382,715 |
|
|
|
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|
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|
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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, 2015 and December 31, 2014:
|
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|
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Unrealized |
|
|
|
|
|
|
Amortized |
|
|
Gross |
|
|
Gross |
|
|
Fair |
| (dollar amounts in thousands) |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
| June 30, 2015 |
|
|
|
|
|
|
|
|
|
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| Federal Agencies: |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage-backed securities |
$ |
2,930,987 |
|
$ |
24,266 |
|
$ |
(19,472) |
|
$ |
2,935,781 |
|
Other agencies |
|
365,574 |
|
|
2,537 |
|
|
(1,754) |
|
|
366,357 |
| Total U.S. Government |
|
|
|
|
|
|
|
|
|
|
|
|
backed agencies |
|
3,296,561 |
|
|
26,803 |
|
|
(21,226) |
|
|
3,302,138 |
| Municipal securities |
|
7,599 |
|
|
--- |
|
|
(258) |
|
|
7,341 |
| Total held-to-maturity securities |
$ |
3,304,160 |
|
$ |
26,803 |
|
$ |
(21,484) |
|
$ |
3,309,479 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized |
|
|
|
|
|
|
Amortized |
|
|
Gross |
|
|
Gross |
|
|
Fair |
| (dollar amounts in thousands) |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
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 |
|
|
|
Less than 12 Months |
|
|
Over 12 Months |
|
|
Total |
|
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
| (dollar amounts in thousands ) |
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
| June 30, 2015 |
|
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| Federal Agencies: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage-backed securities |
$ |
887,538 |
|
$ |
(6,871) |
|
$ |
382,679 |
|
$ |
(12,601) |
|
$ |
1,270,217 |
|
$ |
(19,472) |
|
Other agencies |
|
163,312 |
|
|
(1,615) |
|
|
21,662 |
|
|
(139) |
|
|
184,974 |
|
|
(1,754) |
| Total U.S. Government backed securities |
|
1,050,850 |
|
|
(8,486) |
|
|
404,341 |
|
|
(12,740) |
|
|
1,455,191 |
|
|
(21,226) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Municipal securities |
|
--- |
|
|
--- |
|
|
7,341 |
|
|
(258) |
|
|
7,341 |
|
|
(258) |
| Total temporarily impaired securities |
$ |
1,050,850 |
|
$ |
(8,486) |
|
$ |
411,682 |
|
$ |
(12,998) |
|
$ |
1,462,532 |
|
$ |
(21,484) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 Months |
|
|
Over 12 Months |
|
|
Total |
|
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
| (dollar amounts in thousands ) |
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
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) |
|