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Investments (Tables)
 12 Months Ended
Dec. 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:
 
December 31, 2015
 
December 31, 2014
Security Type:
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
$
759,881

 
$
12,075

 
$
(4,159
)
 
$
767,797

 
$
515,902

 
$
20,142

 
$
(372
)
 
$
535,672

Government agency and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
government-sponsored enterprise
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
collateralized mortgage obligations
486,065

 
3,584

 
(3,410
)
 
486,239

 
275,513

 
3,513

 
(1,080
)
 
277,946

Covered private label collateralized
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
24,113

 
5,794

 
(125
)
 
29,782

 
26,889

 
7,153

 
(95
)
 
33,947

Other private label collateralized
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
115,952

 
43

 
(981
)
 
115,014

 
10,961

 
46

 
(93
)
 
10,914

Municipal securities
1,508,968

 
39,435

 
(1,072
)
 
1,547,331

 
521,499

 
15,899

 
(1,282
)
 
536,116

US Treasury securities
70,196

 
—

 
(816
)
 
69,380

 
—

 
—

 
—

 
—

Corporate debt securities
49,047

 
327

 
(950
)
 
48,424

 
110,074

 
597

 
(562
)
 
110,109

Collateralized loan obligations
133,192

 
128

 
(1,131
)
 
132,189

 
—

 
—

 
—

 
—

SBA securities
211,946

 
41

 
(830
)
 
211,157

 
—

 
—

 
—

 
—

Government-sponsored enterprise debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
securities
36,302

 
611

 
—

 
36,913

 
36,232

 
525

 
—

 
36,757

Asset-backed and other securities
116,723

 
119

 
(1,631
)
 
115,211

 
25,801

 
33

 
(118
)
 
25,716

Total
$
3,512,385

 
$
62,157

 
$
(15,105
)
 
$
3,559,437

 
$
1,522,871

 
$
47,908

 
$
(3,602
)
 
$
1,567,177
Unrealized losses on investment securities
Unrealized Losses on Investment Securities
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:
 
December 31, 2015
 
Less Than 12 Months
 
12 Months or More
 
Total
Security Type:
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
$
391,642

 
$
(3,893
)
 
$
9,342

 
$
(266
)
 
$
400,984

 
$
(4,159
)
Government agency and government-
 
 
 
 
 
 
 
 
 
 
 
sponsored enterprise collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
314,284

 
(2,769
)
 
14,230

 
(641
)
 
328,514

 
(3,410
)
Covered private label collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
1,354

 
(57
)
 
568

 
(68
)
 
1,922

 
(125
)
Other private label collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
92,179

 
(943
)
 
1,070

 
(38
)
 
93,249

 
(981
)
Municipal securities
126,892

 
(1,061
)
 
531

 
(11
)
 
127,423

 
(1,072
)
US Treasury securities
69,380

 
(816
)
 
—

 
—

 
69,380

 
(816
)
Corporate debt securities
29,379

 
(950
)
 
—

 
—

 
29,379

 
(950
)
Collateralized loan obligations
100,993

 
(1,131
)
 
—

 
—

 
100,993

 
(1,131
)
SBA securities
179,942

 
(830
)
 
—

 
—

 
179,942

 
(830
)
Asset-backed and other securities
71,619

 
(1,182
)
 
16,091

 
(449
)
 
87,710

 
(1,631
)
     Total
$
1,377,664

 
$
(13,632
)
 
$
41,832

 
$
(1,473
)
 
$
1,419,496

 
$
(15,105
)
 
December 31, 2014
 
Less Than 12 Months
 
12 Months or More
 
Total
Security Type:
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
)
Asset-backed and 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.
 
December 31, 2015
Maturity:
Amortized Cost
 
Estimated Fair Value
 
(In thousands)
Due in one year or less
$
12,844

 
$
12,677

Due after one year through five years
303,622

 
304,163

Due after five years through ten years
658,572

 
664,076

Due after ten years
2,537,347

 
2,578,521

Total securities available-for-sale
$
3,512,385

 
$
3,559,437
Investment Income
The following table presents the composition of our interest income on investment securities for the years indicated:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(In thousands)
Taxable interest
$
35,103

 
$
30,135

 
$
23,542

Non-taxable interest
25,219

 
13,597

 
11,777

Dividend income
4,046

 
3,613

 
1,604

Total interest income on investment securities
$
64,368

 
$
47,345

 
$
36,923