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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2017
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 fair values of securities available-for-sale as of the dates indicated:
 
March 31, 2017
 
December 31, 2016
 
 
 
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 MBS and CMOs:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency MBS
$
471,851

 
$
6,088

 
$
(3,383
)
 
$
474,556

 
$
499,185

 
$
6,222

 
$
(2,964
)
 
$
502,443

Agency CMOs
137,720

 
1,661

 
(449
)
 
138,932

 
145,258

 
1,528

 
(497
)
 
146,289

Private label CMOs
147,818

 
3,461

 
(1,879
)
 
149,400

 
122,707

 
4,199

 
(1,437
)
 
125,469

Municipal securities
1,464,306

 
22,686

 
(3,711
)
 
1,483,281

 
1,447,064

 
15,406

 
(6,011
)
 
1,456,459

Agency commercial MBS
718,483

 
2,488

 
(8,900
)
 
712,071

 
555,552

 
1,798

 
(9,658
)
 
547,692

Corporate debt securities
17,000

 
1,211

 
—

 
18,211

 
47,100

 
680

 
(271
)
 
47,509

Collateralized loan obligations
126,306

 
1,809

 
(142
)
 
127,973

 
155,440

 
1,685

 
(238
)
 
156,887

SBA securities
168,084

 
589

 
(339
)
 
168,334

 
179,085

 
510

 
(750
)
 
178,845

Asset-backed and other securities
63,966

 
460

 
(192
)
 
64,234

 
62,264

 
358

 
(385
)
 
62,237

Total
$
3,315,534

 
$
40,453

 
$
(18,995
)
 
$
3,336,992

 
$
3,213,655

 
$
32,386

 
$
(22,211
)
 
$
3,223,830
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, 2017
 
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 MBS and CMOs:
 
 
 
 
 
 
 
 
 
 
 
Agency MBS
$
139,928

 
$
(1,802
)
 
$
113,812

 
$
(1,581
)
 
$
253,740

 
$
(3,383
)
Agency CMOs
34,796

 
(312
)
 
18,797

 
(137
)
 
53,593

 
(449
)
Private label CMOs
88,381

 
(1,548
)
 
24,843

 
(331
)
 
113,224

 
(1,879
)
Municipal securities
334,546

 
(3,711
)
 
—

 
—

 
334,546

 
(3,711
)
Agency commercial MBS
380,604

 
(8,900
)
 
—

 
—

 
380,604

 
(8,900
)
Collateralized loan obligations
17,964

 
(24
)
 
17,067

 
(118
)
 
35,031

 
(142
)
SBA securities
44,618

 
(103
)
 
29,674

 
(236
)
 
74,292

 
(339
)
Asset-backed and other securities
15,972

 
(156
)
 
6,957

 
(36
)
 
22,929

 
(192
)
Total
$
1,056,809

 
$
(16,556
)
 
$
211,150

 
$
(2,439
)
 
$
1,267,959

 
$
(18,995
)

 
December 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 MBS and CMOs:
 
 
 
 
 
 
 
 
 
 
Agency MBS
$
149,281

 
$
(1,691
)
 
$
122,902

 
$
(1,273
)
 
$
272,183

 
$
(2,964
)
Agency CMOs
44,111

 
(416
)
 
25,316

 
(81
)
 
69,427

 
(497
)
Private label CMOs
49,067

 
(906
)
 
30,155

 
(531
)
 
79,222

 
(1,437
)
Municipal securities
644,424

 
(6,011
)
 
—

 
—

 
644,424

 
(6,011
)
Agency commercial MBS
349,550

 
(9,658
)
 
—

 
—

 
349,550

 
(9,658
)
Corporate debt securities
29,829

 
(271
)
 
—

 
—

 
29,829

 
(271
)
Collateralized loan obligations
12,450

 
(37
)
 
39,231

 
(201
)
 
51,681

 
(238
)
SBA securities
69,293

 
(407
)
 
39,024

 
(343
)
 
108,317

 
(750
)
Asset-backed and other securities
18,213

 
(309
)
 
7,851

 
(76
)
 
26,064

 
(385
)
Total
$
1,366,218

 
$
(19,706
)
 
$
264,479

 
$
(2,505
)
 
$
1,630,697

 
$
(22,211
)
Investments Classified by Contractual Maturity Date
The following table presents the contractual maturities of our securities available-for-sale portfolio based on amortized cost and carrying value as of the date indicated:
 
March 31, 2017
 
Amortized
 
Fair
Maturity
Cost
 
Value
 
(In thousands)
Due in one year or less
$
18,084

 
$
18,221

Due after one year through five years
235,439

 
238,871

Due after five years through ten years
879,297

 
885,026

Due after ten years
2,182,714

 
2,194,874

Total securities available-for-sale
$
3,315,534

 
$
3,336,992
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,
 
2017
 
2016
 
2016
 
(In thousands)
Taxable interest
$
12,166

 
$
11,849

 
$
11,396

Non-taxable interest
10,381

 
10,323

 
10,726

Dividend income
492

 
1,231

 
425

Total interest income on investment securities
$
23,039

 
$
23,403

 
$
22,547