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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2016
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, 2016
 
December 31, 2015
 
 
 
Gross
 
Gross
 
 
 
 
 
Gross
 
Gross
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
Security Type:
Cost
 
Gains
 
Losses
 
Value
 
Cost
 
Gains
 
Losses
 
Value
 
(In thousands)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government agency and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
government-sponsored enterprise
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
pass-through securities
$
642,233

 
$
12,865

 
$
(1,233
)
 
$
653,865

 
$
759,881

 
$
12,075

 
$
(4,159
)
 
$
767,797

Government agency and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
government-sponsored enterprise
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
collateralized mortgage obligations
431,456

 
12,515

 
(239
)
 
443,732

 
486,065

 
3,584

 
(3,410
)
 
486,239

Covered private label collateralized
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
23,026

 
5,064

 
(227
)
 
27,863

 
24,113

 
5,794

 
(125
)
 
29,782

Other private label collateralized
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
108,019

 
246

 
(883
)
 
107,382

 
115,952

 
43

 
(981
)
 
115,014

Municipal securities
1,457,795

 
59,886

 
(89
)
 
1,517,592

 
1,508,968

 
39,435

 
(1,072
)
 
1,547,331

US Treasury securities
—

 
—

 
—

 
—

 
70,196

 
—

 
(816
)
 
69,380

Corporate debt securities
47,269

 
303

 
(2,089
)
 
45,483

 
49,047

 
327

 
(950
)
 
48,424

Collateralized loan obligations
142,637

 
42

 
(3,107
)
 
139,572

 
133,192

 
128

 
(1,131
)
 
132,189

SBA securities
201,934

 
947

 
(207
)
 
202,674

 
211,946

 
41

 
(830
)
 
211,157

Government-sponsored enterprise debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
securities
—

 
—

 
—

 
—

 
36,302

 
611

 
—

 
36,913

Asset-backed and other securities
104,182

 
135

 
(1,894
)
 
102,423

 
116,723

 
119

 
(1,631
)
 
115,211

Total
$
3,158,551

 
$
92,003

 
$
(9,968
)
 
$
3,240,586

 
$
3,512,385

 
$
62,157

 
$
(15,105
)
 
$
3,559,437
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:
 
March 31, 2016
 
Less Than 12 Months
 
12 Months or More
 
Total
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
Security Type:
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
 
(In thousands)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
Government agency and government-
 
 
 
 
 
 
 
 
 
 
 
sponsored enterprise pass-through
 
 
 
 
 
 
 
 
 
 
 
securities
$
196,388

 
$
(1,135
)
 
$
9,422

 
$
(98
)
 
$
205,810

 
$
(1,233
)
Government agency and government-
 
 
 
 
 
 
 
 
 
 
 
sponsored enterprise collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
33,702

 
(239
)
 
—

 
—

 
33,702

 
(239
)
Covered private label collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
1,239

 
(98
)
 
849

 
(129
)
 
2,088

 
(227
)
Other private label collateralized
 
 
 
 
 
 
 
 
 
 
 
mortgage obligations
59,407

 
(838
)
 
1,029

 
(45
)
 
60,436

 
(883
)
Municipal securities
18,108

 
(55
)
 
5,496

 
(34
)
 
23,604

 
(89
)
Corporate debt securities
28,180

 
(2,089
)
 
—

 
—

 
28,180

 
(2,089
)
Collateralized loan obligations
106,773

 
(2,121
)
 
23,355

 
(986
)
 
130,128

 
(3,107
)
SBA securities
87,150

 
(207
)
 
—

 
—

 
87,150

 
(207
)
Asset-backed and other securities
64,013

 
(1,285
)
 
15,923

 
(609
)
 
79,936

 
(1,894
)
     Total
$
594,960

 
$
(8,067
)
 
$
56,074

 
$
(1,901
)
 
$
651,034

 
$
(9,968
)

 
December 31, 2015
 
Less Than 12 Months
 
12 Months or More
 
Total
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
Security Type:
Value
 
Losses
 
Value
 
Losses
 
Value
 
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
)
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, 2016
 
Amortized
 
Fair
Maturity:
Cost
 
Value
 
(In thousands)
Due in one year or less
$
12,821

 
$
12,628

Due after one year through five years
216,420

 
219,110

Due after five years through ten years
603,523

 
619,214

Due after ten years
2,325,787

 
2,389,634

Total securities available-for-sale
$
3,158,551

 
$
3,240,586
Investment Income
The following table presents the composition of our interest income on investment securities for the periods indicated:
 
Three Months Ended
 
March 31,
 
December 31,
 
March 31,
 
2016
 
2015
 
2015
 
(In thousands)
Taxable interest
$
11,396

 
$
12,730

 
$
7,473

Non-taxable interest
10,726

 
10,459

 
3,894

Dividend income
425

 
459

 
828

Total interest income on investment securities
$
22,547

 
$
23,648

 
$
12,195