|
Held To Maturity Securities (Tables)
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3 Months Ended |
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Sep. 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 September 30, 2014 and December 31, 2013:
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September 30, 2014 |
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December 31, 2013 |
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Amortized |
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|
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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|
|
|
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Under 1 year |
$ |
--- |
|
$ |
--- |
|
$ |
--- |
|
$ |
--- |
|
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
|
6-10 years |
|
24,901 |
|
|
23,674 |
|
|
24,901 |
|
|
22,549 |
|
|
Over 10 years |
|
3,249,587 |
|
|
3,223,650 |
|
|
3,574,156 |
|
|
3,506,018 |
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Total Federal agencies: mortgage-backed securities |
3,274,488 |
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|
3,247,324 |
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|
3,599,057 |
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|
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 |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
|
6-10 years |
|
54,766 |
|
|
55,186 |
|
|
38,588 |
|
|
39,075 |
|
|
Over 10 years |
|
158,851 |
|
|
156,696 |
|
|
189,999 |
|
|
185,097 |
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Total other agencies |
|
213,617 |
|
|
211,882 |
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|
228,587 |
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|
224,172 |
| Total U.S. Government backed agencies |
|
3,488,105 |
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|
3,459,206 |
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|
3,827,644 |
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|
3,752,739 |
| Municipal securities: |
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|
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|
|
|
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Under 1 year |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
1-5 years |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
6-10 years |
--- |
|
|
--- |
|
|
--- |
|
|
--- |
|
Over 10 years |
|
8,388 |
|
|
7,850 |
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|
9,023 |
|
|
8,159 |
| Total municipal securities |
|
8,388 |
|
|
7,850 |
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|
9,023 |
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|
8,159 |
| Total held-to-maturity securities |
$ |
3,496,493 |
|
$ |
3,467,056 |
|
$ |
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 September 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 |
| September 30, 2014 |
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| Federal Agencies: |
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|
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|
Mortgage-backed securities |
$ |
3,274,488 |
|
$ |
14,648 |
|
$ |
(41,812) |
|
$ |
3,247,324 |
|
Other agencies |
|
213,617 |
|
|
755 |
|
|
(2,490) |
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|
211,882 |
| Total U.S. Government |
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|
|
|
|
|
|
|
|
|
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|
backed securities |
|
3,488,105 |
|
|
15,403 |
|
|
(44,302) |
|
|
3,459,206 |
| Municipal securities |
|
8,388 |
|
|
--- |
|
|
(538) |
|
|
7,850 |
| Total held-to-maturity securities |
$ |
3,496,493 |
|
$ |
15,403 |
|
$ |
(44,840) |
|
$ |
3,467,056 |
|
|
|
|
|
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|
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Unrealized |
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|
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Amortized |
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|
Gross |
|
|
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 |
| December 31, 2013 |
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| Federal Agencies: |
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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 |
|
|
|
|
|
|
|
|
|
|
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|
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 |
|
|
Fair |
|
|
Unrealized |
| (dollar amounts in thousands ) |
|
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 |
| September 30, 2014 |
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| Federal Agencies: |
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|
Mortgage-backed securities |
$ |
1,504,885 |
|
$ |
(16,953) |
|
$ |
668,968 |
|
$ |
(24,859) |
|
$ |
2,173,853 |
|
$ |
(41,812) |
|
Other agencies |
|
37,380 |
|
|
(146) |
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|
71,374 |
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(2,344) |
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|
108,754 |
|
|
(2,490) |
| Total U.S. Government backed securities |
|
1,542,265 |
|
|
(17,099) |
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|
740,342 |
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(27,203) |
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2,282,607 |
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(44,302) |
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|
|
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|
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|
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|
|
|
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| Municipal securities |
|
7,849 |
|
|
(538) |
|
|
--- |
|
|
--- |
|
|
7,849 |
|
|
(538) |
| Total temporarily impaired securities |
$ |
1,550,114 |
|
$ |
(17,637) |
|
$ |
740,342 |
|
$ |
(27,203) |
|
$ |
2,290,456 |
|
$ |
(44,840) |
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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 |
|
|
Fair |
|
|
Unrealized |
| (dollar amounts in thousands ) |
|
Value |
|
|
Losses |
|
|
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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|
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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) |
|
Other agencies |
|
144,417 |
|
|
(5,191) |
|
|
--- |
|
|
--- |
|
|
144,417 |
|
|
(5,191) |
| Total U.S. Government backed securities |
|
2,993,615 |
|
|
(78,902) |
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|
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) |
|