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Investments (Tables)
 3 Months Ended
Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The following table presents amortized cost, gross unrealized gains and losses, and carrying values of securities available-for-sale as of the dates indicated:
 
March 31, 2015
 
December 31, 2014
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
(In thousands)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government agency and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
government-sponsored enterprise
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
pass-through securities
$
439,696

 
$
19,327

 
$
(131
)
 
$
458,892

 
$
515,902

 
$
20,142

 
$
(372
)
 
$
535,672

Government agency and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
government-sponsored enterprise
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
collateralized mortgage obligations
269,766

 
6,909

 
(451
)
 
276,224

 
275,513

 
3,513

 
(1,080
)
 
277,946

Covered private label collateralized
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
26,496

 
7,014

 
(66
)
 
33,444

 
26,889

 
7,153

 
(95
)
 
33,947

Other private label collateralized
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
9,645

 
52

 
(47
)
 
9,650

 
10,961

 
46

 
(93
)
 
10,914

Municipal securities
579,344

 
15,708

 
(2,199
)
 
592,853

 
521,499

 
15,899

 
(1,282
)
 
536,116

Corporate debt securities
47,485

 
683

 
(423
)
 
47,745

 
110,074

 
597

 
(562
)
 
110,109

Collateralized loan obligations
112,883

 
922

 
—

 
113,805

 
—

 
—

 
—

 
—

Government-sponsored enterprise debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
securities
36,249

 
1,156

 
—

 
37,405

 
36,232

 
525

 
—

 
36,757

Other securities
25,451

 
34

 
(94
)
 
25,391

 
25,801

 
33

 
(118
)
 
25,716

Total
$
1,547,015

 
$
51,805

 
$
(3,411
)
 
$
1,595,409

 
$
1,522,871

 
$
47,908

 
$
(3,602
)
 
$
1,567,177
Unrealized losses on investment securities
Losses on Securities Available-for-Sale
The following tables present the gross unrealized losses and fair values of securities available-for-sale that were in unrealized loss positions, for which other-than-temporary impairments have not been recognized in earnings, as of the dates indicated:
 
March 31, 2015
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
(In thousands)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
Government agency and government-
 
 
 
 
 
 
 
 
 
 
 
sponsored enterprise pass-through
 
 
 
 
 
 
 
 
 
 
 
securities
$
5,031

 
$
(42
)
 
$
10,085

 
$
(89
)
 
$
15,116

 
$
(131
)
Government agency and government-
 
 
 
 
 
 
 
 
 
 
 
sponsored enterprise collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
—

 
—

 
14,403

 
(451
)
 
14,403

 
(451
)
Covered private label collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
726

 
(6
)
 
643

 
(60
)
 
1,369

 
(66
)
Other private label collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
1,206

 
(46
)
 
360

 
(1
)
 
1,566

 
(47
)
Municipal securities
112,361

 
(1,277
)
 
38,687

 
(922
)
 
151,048

 
(2,199
)
Corporate debt securities
25,104

 
(423
)
 
—

 
—

 
25,104

 
(423
)
Other securities
6,453

 
(72
)
 
10,020

 
(22
)
 
16,473

 
(94
)
     Total
$
150,881

 
$
(1,866
)
 
$
74,198

 
$
(1,545
)
 
$
225,079

 
$
(3,411
)

 
December 31, 2014
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
(In thousands)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Government agency and government-
 
 
 
 
 
 
 
 
 
 
 
sponsored enterprise pass-through
 
 
 
 
 
 
 
 
 
 
 
securities
$
10,711

 
$
(13
)
 
$
27,100

 
$
(359
)
 
$
37,811

 
$
(372
)
Government agency and government-
 
 
 
 
 
 
 
 
 
 
 
sponsored enterprise collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
23,908

 
(73
)
 
40,652

 
(1,007
)
 
64,560

 
(1,080
)
Covered private label collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
—

 
—

 
1,000

 
(95
)
 
1,000

 
(95
)
Other private label collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
1,618

 
(93
)
 
—

 
—

 
1,618

 
(93
)
Municipal securities
11,854

 
(66
)
 
84,822

 
(1,216
)
 
96,676

 
(1,282
)
Corporate debt securities
52,071

 
(547
)
 
10,131

 
(15
)
 
62,202

 
(562
)
Other securities
6,440

 
(90
)
 
10,019

 
(28
)
 
16,459

 
(118
)
Total
$
106,602

 
$
(882
)
 
$
173,724

 
$
(2,720
)
 
$
280,326

 
$
(3,602
)
Investments Classified by Contractual Maturity Date
The following table presents the contractual maturities of our available-for-sale securities portfolio based on amortized cost and carrying value as of the date indicated:
 
March 31, 2015
 
Amortized Cost
 
Estimated Fair Value
 
(In thousands)
Due in one year or less
$
18,358

 
$
18,538

Due after one year through five years
76,173

 
76,515

Due after five years through ten years
276,933

 
287,023

Due after ten years
1,175,551

 
1,213,333

Total securities available-for-sale
$
1,547,015

 
$
1,595,409
Investment Income
The following table presents the composition of our interest income on investment securities for the periods indicated:
 
Three Months Ended
 
March 31, 2015
 
December 31, 2014
 
March 31, 2014
 
(In thousands)
Taxable interest
$
7,473

 
$
7,697

 
$
6,920

Non-taxable interest
3,894

 
3,593

 
3,328

Dividend income
828

 
915

 
575

Total interest income on investment securities
$
12,195

 
$
12,205

 
$
10,823