Held To Maturity Securities (Tables)
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12 Months Ended |
Dec. 31, 2013
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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 December 31, 2013 and 2012:
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December 31, 2013 |
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December 31, 2012 |
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Amortized |
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Fair |
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Amortized |
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(dollar amounts in thousands) |
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Cost |
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Value |
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Cost |
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Fair Value |
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Federal agencies: mortgage-backed securities: |
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Under 1 year |
$ |
--- |
|
$ |
--- |
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$ |
--- |
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$ |
--- |
|
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
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|
--- |
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6-10 years |
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24,901 |
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22,549 |
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24,901 |
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|
24,739 |
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Over 10 years |
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3,574,156 |
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3,506,018 |
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1,624,483 |
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1,672,702 |
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Total Federal agencies: mortgage-backed securities |
3,599,057 |
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3,528,567 |
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1,649,384 |
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1,697,441 |
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Other agencies: |
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Under 1 year |
|
--- |
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|
--- |
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|
--- |
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|
--- |
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1-5 years |
|
--- |
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|
--- |
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|
--- |
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|
--- |
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6-10 years |
|
38,588 |
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39,075 |
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|
15,108 |
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|
15,338 |
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Over 10 years |
|
189,999 |
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185,097 |
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|
69,399 |
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|
71,341 |
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Total other agencies |
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228,587 |
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224,172 |
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|
84,507 |
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|
86,679 |
Total U.S. Government backed agencies |
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3,827,644 |
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3,752,739 |
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1,733,891 |
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1,784,120 |
Municipal securities: |
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Under 1 year |
|
--- |
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|
--- |
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|
--- |
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|
--- |
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1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
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6-10 years |
--- |
|
|
--- |
|
|
--- |
|
|
--- |
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Over 10 years |
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9,023 |
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8,159 |
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9,985 |
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|
9,985 |
Total municipal securities |
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9,023 |
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8,159 |
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|
9,985 |
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|
9,985 |
Total held-to-maturity securities |
$ |
3,836,667 |
|
$ |
3,760,898 |
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$ |
1,743,876 |
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$ |
1,794,105 |
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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 December 31, 2013 and 2012:
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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) |
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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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Mortgage-backed securities |
$ |
3,599,057 |
|
$ |
5,573 |
|
$ |
(76,063) |
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$ |
3,528,567 |
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Other agencies |
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228,587 |
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|
776 |
|
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(5,191) |
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|
224,172 |
Total U.S. Government |
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backed securities |
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3,827,644 |
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6,349 |
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(81,254) |
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3,752,739 |
Municipal securities |
|
9,023 |
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|
--- |
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(864) |
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|
8,159 |
Total held-to-maturity securities |
$ |
3,836,667 |
|
$ |
6,349 |
|
$ |
(82,118) |
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$ |
3,760,898 |
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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) |
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Cost |
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Gains |
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Losses |
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Value |
December 31, 2012 |
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Federal Agencies: |
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Mortgage-backed securities |
$ |
1,649,384 |
|
$ |
48,219 |
|
$ |
(162) |
|
$ |
1,697,441 |
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Other agencies |
|
84,507 |
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|
2,172 |
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|
--- |
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|
86,679 |
Total U.S. Government |
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backed securities |
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1,733,891 |
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|
50,391 |
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(162) |
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|
1,784,120 |
Municipal securities |
|
9,985 |
|
|
--- |
|
|
--- |
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|
9,985 |
Total held-to-maturity securities |
$ |
1,743,876 |
|
$ |
50,391 |
|
$ |
(162) |
|
$ |
1,794,105 |
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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 |
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Unrealized |
(dollar amounts in thousands ) |
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Value |
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Losses |
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Value |
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Losses |
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Value |
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Losses |
December 31, 2013 |
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Federal Agencies: |
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Mortgage-backed securities |
$ |
2,849,198 |
|
$ |
(73,711) |
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$ |
22,548 |
|
$ |
(2,352) |
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$ |
2,871,746 |
|
$ |
(76,063) |
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Other agencies |
|
144,417 |
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(5,191) |
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|
--- |
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|
--- |
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|
144,417 |
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(5,191) |
Total U.S. Government backed securities |
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2,993,615 |
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(78,902) |
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22,548 |
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(2,352) |
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3,016,163 |
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(81,254) |
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Municipal securities |
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8,159 |
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(864) |
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|
--- |
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|
--- |
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|
8,159 |
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|
(864) |
Total temporarily impaired securities |
$ |
3,001,774 |
|
$ |
(79,766) |
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$ |
22,548 |
|
$ |
(2,352) |
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$ |
3,024,322 |
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$ |
(82,118) |
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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 |
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Unrealized |
(dollar amounts in thousands ) |
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Value |
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Losses |
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Value |
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Losses |
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Value |
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|
Losses |
December 31, 2012 |
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Federal Agencies: |
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|
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|
|
|
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|
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Mortgage-backed securities |
$ |
24,739 |
|
$ |
(162) |
|
$ |
--- |
|
$ |
--- |
|
$ |
24,739 |
|
$ |
(162) |
Total U.S. Government backed securities |
|
24,739 |
|
|
(162) |
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|
--- |
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|
--- |
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|
24,739 |
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(162) |
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Total temporarily impaired securities |
$ |
24,739 |
|
$ |
(162) |
|
$ |
--- |
|
$ |
--- |
|
$ |
24,739 |
|
$ |
(162) |
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