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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2018
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, 2018
 
December 31, 2017
 
 
 
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
$
251,585

 
$
2,748

 
$
(2,557
)
 
$
251,776

 
$
243,375

 
$
3,743

 
$
(844
)
 
$
246,274

Agency CMOs
551,021

 
840

 
(5,916
)
 
545,945

 
277,638

 
968

 
(2,897
)
 
275,709

Private label CMOs
114,386

 
3,071

 
(1,212
)
 
116,245

 
122,816

 
3,813

 
(642
)
 
125,987

Municipal securities
1,392,261

 
19,389

 
(8,064
)
 
1,403,586

 
1,627,707

 
53,700

 
(1,339
)
 
1,680,068

Agency commercial MBS
1,114,430

 
121

 
(25,057
)
 
1,089,494

 
1,169,969

 
2,758

 
(8,758
)
 
1,163,969

U.S. Treasury securities
148,217

 
365

 
—

 
148,582

 
—

 
—

 
—

 
—

SBA securities
148,787

 
706

 
(1,229
)
 
148,264

 
160,214

 
695

 
(575
)
 
160,334

Asset-backed securities
81,022

 
11

 
(1,299
)
 
79,734

 
89,425

 
159

 
(874
)
 
88,710

Corporate debt securities
17,000

 
1,360

 
—

 
18,360

 
17,000

 
2,295

 
—

 
19,295

Collateralized loan obligations
—

 
—

 
—

 
—

 
6,960

 
55

 
—

 
7,015

Equity investments
—

 
—

 
—

 
—

 
6,421

 
779

 
(130
)
 
7,070

Total
$
3,818,709

 
$
28,611

 
$
(45,334
)
 
$
3,801,986

 
$
3,721,525

 
$
68,965

 
$
(16,059
)
 
$
3,774,431
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, 2018
 
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
$
104,277

 
$
(1,649
)
 
$
24,518

 
$
(908
)
 
$
128,795

 
$
(2,557
)
Agency CMOs
251,805

 
(5,359
)
 
18,377

 
(557
)
 
270,182

 
(5,916
)
Private label CMOs
92,396

 
(1,105
)
 
4,446

 
(107
)
 
96,842

 
(1,212
)
Municipal securities
364,270

 
(6,320
)
 
30,973

 
(1,744
)
 
395,243

 
(8,064
)
Agency commercial MBS
1,006,897

 
(21,302
)
 
67,387

 
(3,755
)
 
1,074,284

 
(25,057
)
SBA securities
87,303

 
(1,229
)
 
—

 
—

 
87,303

 
(1,229
)
Asset-backed securities
64,382

 
(1,199
)
 
7,630

 
(100
)
 
72,012

 
(1,299
)
Total
$
1,971,330

 
$
(38,163
)
 
$
153,331

 
$
(7,171
)
 
$
2,124,661

 
$
(45,334
)


 
December 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
$
44,795

 
$
(311
)
 
$
26,010

 
$
(533
)
 
$
70,805

 
$
(844
)
Agency CMOs
163,014

 
(2,452
)
 
20,928

 
(445
)
 
183,942

 
(2,897
)
Private label CMOs
50,521

 
(500
)
 
5,035

 
(142
)
 
55,556

 
(642
)
Municipal securities
67,936

 
(365
)
 
32,326

 
(974
)
 
100,262

 
(1,339
)
Agency commercial MBS
579,373

 
(3,777
)
 
129,060

 
(4,981
)
 
708,433

 
(8,758
)
SBA securities
74,904

 
(575
)
 
—

 
—

 
74,904

 
(575
)
Asset-backed securities
45,198

 
(818
)
 
10,473

 
(56
)
 
55,671

 
(874
)
Equity investments
1,039

 
(130
)
 
—

 
—

 
1,039

 
(130
)
Total
$
1,026,780

 
$
(8,928
)
 
$
223,832

 
$
(7,131
)
 
$
1,250,612

 
$
(16,059
)
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, 2018
 
Amortized
 
Fair
Maturity
Cost
 
Value
 
(In thousands)
Due in one year or less
$
10,384

 
$
10,517

Due after one year through five years
486,326

 
483,913

Due after five years through ten years
1,053,610

 
1,035,714

Due after ten years
2,268,389

 
2,271,842

Total securities available-for-sale
$
3,818,709

 
$
3,801,986
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,
 
2018
 
2017
 
2017
 
(In thousands)
Taxable interest
$
14,599

 
$
13,724

 
$
12,166

Non-taxable interest
11,107

 
11,429

 
10,381

Dividend income
432

 
559

 
492

Total interest income on investment securities
$
26,138

 
$
25,712

 
$
23,039