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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Approximate Fair Value of Investment Securities
The amortized cost and approximate fair value of investment securities as of June 30, 2018 and December 31, 2017 are summarized in the tables below:
 
June 30, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(amounts in thousands)
 
 
 
 
 
 
 
Available-for-Sale Debt Securities:
 
 
 
 
 
 
 
Agency-guaranteed residential mortgage-backed securities
$
490,425

 
$
—

 
$
(13,862
)
 
$
476,563

Agency-guaranteed commercial real estate mortgage-backed securities
334,232

 
—

 
(13,859
)
 
320,373

Corporate notes
381,545

 
798

 
(21,335
)
 
361,008

Available-for-Sale Debt Securities
$
1,206,202

 
$
798

 
$
(49,056
)
 
1,157,944

Equity Securities (1)
 
 
 
 
 
 
3,056

Total Investment Securities, at Fair Value
 
 
 
 
 
 
$
1,161,000

(1) Includes equity securities issued by a foreign entity that are being measured at fair value with changes in fair value
recognized directly in earnings effective January 1, 2018 as a result of adopting ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (see NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION for additional information related to the adoption of this new standard).


 
December 31, 2017
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(amounts in thousands)
 
 
 
 
 
 
 
Available-for-Sale Securities:
 
 
 
 
 
 
 
Agency-guaranteed residential mortgage-backed securities
$
186,221

 
$
36

 
$
(2,799
)
 
$
183,458

Agency-guaranteed commercial real estate mortgage-backed securities
238,809

 
432

 
(769
)
 
238,472

Corporate notes (1)
44,959

 
1,130

 
—

 
46,089

Equity securities (2)
2,311

 
1,041

 
—

 
3,352

Total Available-for-Sale Securities, at Fair Value
$
472,300

 
$
2,639

 
$
(3,568
)
 
$
471,371

(1)
Includes subordinated debt issued by other bank holding companies.
(2)
Includes equity securities issued by a foreign entity.
Summary of Available-for-Sale Debt Securities by Stated Maturity
The following table shows debt investment securities by stated maturity.  Investment securities backed by mortgages have expected maturities that differ from contractual maturities because borrowers have the right to call or prepay and, therefore, these debt securities are classified separately with no specific maturity date:
 
June 30, 2018
 
Amortized
Cost
 
Fair
Value
(amounts in thousands)
 
 
 
Due in one year or less
$
—

 
$
—

Due after one year through five years
—

 
—

Due after five years through ten years
179,413

 
171,214

Due after ten years
202,132

 
189,794

Agency-guaranteed residential mortgage-backed securities
490,425

 
476,563

Agency-guaranteed commercial real estate mortgage-backed securities
334,232

 
320,373

Total debt securities
$
1,206,202

 
$
1,157,944
Available-for-sale Securities
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
(amounts in thousands)
 
 
 
 
 
 
 
Proceeds from sale of available-for-sale securities
$
—

 
$
115,982

 
$
—

 
$
115,982

Gross gains
$
—

 
$
3,183

 
$
—

 
$
3,183

Gross losses
—

 
—

 
—

 
—

Net gains (losses)
$
—

 
$
3,183

 
$
—

 
$
3,183
Gross Unrealized Losses and Fair Value, Aggregated by Investment Category
Gross unrealized losses and fair value of Customers' available for sale debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2018 and December 31, 2017 were as follows:
 
June 30, 2018
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Available-for-Sale Debt Securities:
 
 
 
 
 
 
 
 
 
 
 
Agency-guaranteed residential mortgage-backed securities
$
416,002

 
$
(10,256
)
 
$
60,561

 
$
(3,606
)
 
$
476,563

 
$
(13,862
)
Agency-guaranteed commercial real estate mortgage-backed securities
314,525

 
(13,532
)
 
5,848

 
(327
)
 
320,373

 
(13,859
)
Corporate notes
315,249

 
(21,335
)
 
—

 
—

 
315,249

 
(21,335
)
Total
$
1,045,776

 
$
(45,123
)
 
$
66,409

 
$
(3,933
)
 
$
1,112,185

 
$
(49,056
)
 
 
December 31, 2017
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Available-for-Sale Debt Securities:
 
 
 
 
 
 
 
 
 
 
 
Agency-guaranteed residential mortgage-backed securities
$
104,861

 
$
(656
)
 
$
66,579

 
$
(2,143
)
 
$
171,440

 
$
(2,799
)
Agency-guaranteed commercial real estate mortgage-backed securities
115,970

 
(740
)
 
6,151

 
(29
)
 
122,121

 
(769
)
Total
$
220,831

 
$
(1,396
)
 
$
72,730

 
$
(2,172
)
 
$
293,561

 
$
(3,568
)