|
Held To Maturity Securities (Tables)
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12 Months Ended |
|
Dec. 31, 2014
|
| 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 December 31, 2014 and 2013:
|
|
|
|
December 31, 2014 |
|
|
December 31, 2013 |
|
|
|
|
Amortized |
|
|
Fair |
|
|
Amortized |
|
|
|
| (dollar amounts in thousands) |
|
Cost |
|
|
Value |
|
|
Cost |
|
|
Fair Value |
| Federal agencies: mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 year |
$ |
--- |
|
$ |
--- |
|
$ |
--- |
|
$ |
--- |
|
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
|
6-10 years |
|
24,901 |
|
|
24,263 |
|
|
24,901 |
|
|
22,549 |
|
|
Over 10 years |
|
3,136,460 |
|
|
3,140,194 |
|
|
3,574,156 |
|
|
3,506,018 |
| Total Federal agencies: mortgage-backed securities |
3,161,361 |
|
|
3,164,457 |
|
|
3,599,057 |
|
|
3,528,567 |
| Other agencies: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 year |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
|
6-10 years |
|
54,010 |
|
|
54,843 |
|
|
38,588 |
|
|
39,075 |
|
|
Over 10 years |
|
156,553 |
|
|
155,821 |
|
|
189,999 |
|
|
185,097 |
| Total other agencies |
|
210,563 |
|
|
210,664 |
|
|
228,587 |
|
|
224,172 |
| Total U.S. Government backed agencies |
|
3,371,924 |
|
|
3,375,121 |
|
|
3,827,644 |
|
|
3,752,739 |
| Municipal securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 year |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
6-10 years |
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
Over 10 years |
|
7,981 |
|
|
7,594 |
|
|
9,023 |
|
|
8,159 |
| Total municipal securities |
|
7,981 |
|
|
7,594 |
|
|
9,023 |
|
|
8,159 |
| Total held-to-maturity securities |
$ |
3,379,905 |
|
$ |
3,382,715 |
|
$ |
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 December 31, 2014 and 2013:
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|
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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 securities |
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Unrealized |
|
|
|
|
|
|
Amortized |
|
|
Gross |
|
|
Gross |
|
|
Fair |
| (dollar amounts in thousands) |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
| December 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
| Federal Agencies: |
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
| Investment securities in an unrealized loss position |
|
|
|
Less than 12 Months |
|
|
Over 12 Months |
|
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Total |
|
|
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Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
| (dollar amounts in thousands ) |
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
| December 31, 2014 |
|
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|
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| 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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
| Federal Agencies: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage-backed securities |
$ |
2,849,198 |
|
$ |
(73,711) |
|
$ |
22,548 |
|
$ |
(2,352) |
|
$ |
2,871,746 |
|
$ |
(76,063) |
|
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) |
|
|
3,016,163 |
|
|
(81,254) |
| 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) |
|