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SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Securities Available for Sale
The amortized cost and fair value of securities are as follows:
 
(in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
 Value
Securities Available for Sale:
 
 
 
 
 
 
 
June 30, 2018
 
 
 
 
 
 
 
U.S. government agencies
$
96,085

 
$
—

 
$
(559
)
 
$
95,526

U.S. government-sponsored entities
312,903

 
—

 
(5,969
)
 
306,934

Residential mortgage-backed securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
1,626,353

 
390

 
(49,147
)
 
1,577,596

Agency collateralized mortgage obligations
863,976

 
29

 
(32,188
)
 
831,817

Non-agency collateralized mortgage obligations
—

 
—

 
—

 
—

Commercial mortgage-backed securities
168,466

 
154

 
(296
)
 
168,324

States of the U.S. and political subdivisions
20,795

 
2

 
(62
)
 
20,735

Other debt securities
1,949

 
—

 
(94
)
 
1,855

Total debt securities available for sale
$
3,090,527

 
$
575

 
$
(88,315
)
 
$
3,002,787

December 31, 2017
 
 
 
 
 
 
 
U.S. government-sponsored entities
$
347,767

 
$
52

 
$
(3,877
)
 
$
343,942

Residential mortgage-backed securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
1,615,168

 
1,225

 
(17,519
)
 
1,598,874

Agency collateralized mortgage obligations
813,034

 
—

 
(18,077
)
 
794,957

Non-agency collateralized mortgage obligations
1

 
—

 
—

 
1

States of the U.S. and political subdivisions
21,151

 
6

 
(64
)
 
21,093

Other debt securities
4,913

 
—

 
(243
)
 
4,670

Total debt securities
2,802,034

 
1,283

 
(39,780
)
 
2,763,537

Equity securities
587

 
438

 
—

 
1,025

Total securities available for sale
$
2,802,621

 
$
1,721

 
$
(39,780
)
 
$
2,764,562
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity
(in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
 Value
Debt Securities Held to Maturity:
 
 
 
 
 
 
 
June 30, 2018
 
 
 
 
 
 
 
U.S. Treasury
$
500

 
$
107

 
$
—

 
$
607

U.S. government agencies
2,056

 
60

 
—

 
2,116

U.S. government-sponsored entities
245,017

 
—

 
(6,030
)
 
238,987

Residential mortgage-backed securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
1,125,947

 
295

 
(33,439
)
 
1,092,803

Agency collateralized mortgage obligations
840,073

 
768

 
(34,063
)
 
806,778

Commercial mortgage-backed securities
79,124

 
7

 
(1,555
)
 
77,576

States of the U.S. and political subdivisions
1,002,364

 
1,626

 
(41,582
)
 
962,408

Total debt securities held to maturity
$
3,295,081

 
$
2,863

 
$
(116,669
)
 
$
3,181,275

December 31, 2017
 
 
 
 
 
 
 
U.S. Treasury
$
500

 
$
134

 
$
—

 
$
634

U.S. government-sponsored entities
247,310

 
93

 
(4,388
)
 
243,015

Residential mortgage-backed securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
1,219,802

 
3,475

 
(9,058
)
 
1,214,219

Agency collateralized mortgage obligations
777,146

 
32

 
(20,095
)
 
757,083

Commercial mortgage-backed securities
80,786

 
414

 
(575
)
 
80,625

States of the U.S. and political subdivisions
916,724

 
13,209

 
(7,130
)
 
922,803

Total debt securities held to maturity
$
3,242,268

 
$
17,357

 
$
(41,246
)
 
$
3,218,379
Gross Gains and Gross Losses Realized on Sales of Securities
Gross gains and gross losses were realized on securities as follows:

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(in thousands)
2018
 
2017
 
2018
 
2017
Gross gains
$
31

 
$
611

 
$
31

 
$
4,011

Gross losses
—

 
(118
)
 
—

 
(893
)
Net gains
$
31

 
$
493

 
$
31

 
$
3,118
Amortized Cost and Fair Value of Securities, by Contractual Maturities
As of June 30, 2018, the amortized cost and fair value of debt securities, by contractual maturities, were as follows:

 
Available for Sale
 
Held to Maturity
(in thousands)
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Due in one year or less
$
65,485

 
$
65,271

 
$
55,457

 
$
55,236

Due from one to five years
262,288

 
256,488

 
201,924

 
196,157

Due from five to ten years
19,860

 
19,709

 
95,166

 
94,334

Due after ten years
84,099

 
83,582

 
897,390

 
858,391

 
431,732

 
425,050

 
1,249,937

 
1,204,118

Residential mortgage-backed securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
1,626,353

 
1,577,596

 
1,125,947

 
1,092,803

Agency collateralized mortgage obligations
863,976

 
831,817

 
840,073

 
806,778

Commercial mortgage-backed securities
168,466

 
168,324

 
79,124

 
77,576

Total debt securities
$
3,090,527

 
$
3,002,787

 
$
3,295,081

 
$
3,181,275
Schedule of Securities Pledged as Collateral
Following is information relating to securities pledged:

(dollars in thousands)
June 30,
2018
 
December 31,
2017
Securities pledged (carrying value):
 
 
 
To secure public deposits, trust deposits and for other purposes as required by law
$
3,370,601

 
$
3,491,634

As collateral for short-term borrowings
261,140

 
263,756

Securities pledged as a percent of total securities
57.7
%
 
62.5
%
Summaries of Fair Values and Unrealized Losses of Impaired Securities, Segregated by Length of Impairment
Following are summaries of the fair values and unrealized losses of temporarily impaired debt securities, segregated by length of impairment:

 
Less than 12 Months
 
12 Months or More
 
Total
(dollars in thousands)
#
 
Fair
 Value
 
Unrealized
Losses
 
#
 
Fair
 Value
 
Unrealized
Losses
 
#
 
Fair
 Value
 
Unrealized
Losses
Debt Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
13

 
$
95,526

 
$
(559
)
 
—

 
$
—

 
$
—

 
13

 
$
95,526

 
$
(559
)
U.S. government-sponsored entities
5

 
106,668

 
(1,236
)
 
10

 
200,266

 
(4,733
)
 
15

 
306,934

 
(5,969
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities
59

 
1,145,743

 
(30,600
)
 
28

 
418,672

 
(18,547
)
 
87

 
1,564,415

 
(49,147
)
Agency collateralized mortgage obligations
17

 
491,313

 
(16,023
)
 
33

 
292,579

 
(16,165
)
 
50

 
783,892

 
(32,188
)
Commercial mortgage-backed securities
2

 
74,167

 
(296
)
 
—

 
—

 
—

 
2

 
74,167

 
(296
)
States of the U.S. and political subdivisions
7

 
11,476

 
(55
)
 
1

 
877

 
(7
)
 
8

 
12,353

 
(62
)
Other debt securities
—

 
—

 
—

 
3

 
1,855

 
(94
)
 
3

 
1,855

 
(94
)
Total temporarily impaired debt securities AFS
103

 
$
1,924,893

 
$
(48,769
)
 
75

 
$
914,249

 
$
(39,546
)
 
178

 
$
2,839,142

 
$
(88,315
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government-sponsored entities
7

 
$
106,809

 
$
(363
)
 
10

 
$
201,485

 
$
(3,514
)
 
17

 
$
308,294

 
$
(3,877
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities
43

 
976,738

 
(7,723
)
 
28

 
473,625

 
(9,796
)
 
71

 
1,450,363

 
(17,519
)
Agency collateralized mortgage obligations
14

 
409,005

 
(6,231
)
 
33

 
335,452

 
(11,846
)
 
47

 
744,457

 
(18,077
)
States of the U.S. and political subdivisions
7

 
11,254

 
(55
)
 
1

 
879

 
(9
)
 
8

 
12,133

 
(64
)
Other debt securities
—

 
—

 
—

 
3

 
4,670

 
(243
)
 
3

 
4,670

 
(243
)
Total temporarily impaired debt securities AFS
71

 
$
1,503,806

 
$
(14,372
)
 
75

 
$
1,016,111

 
$
(25,408
)
 
146

 
$
2,519,917

 
$
(39,780
)
 
Less than 12 Months
 
12 Months or More
 
Total
(dollars in thousands)
#
 
Fair
 Value
 
Unrealized
Losses
 
#
 
Fair
 Value
 
Unrealized
Losses
 
#
 
Fair
 Value
 
Unrealized
Losses
Debt Securities Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government-sponsored entities
4

 
$
54,509

 
$
(508
)
 
10

 
$
184,478

 
$
(5,522
)
 
14

 
$
238,987

 
$
(6,030
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities
80

 
909,762

 
(25,390
)
 
11

 
164,501

 
(8,049
)
 
91

 
1,074,263

 
(33,439
)
Agency collateralized mortgage obligations
17

 
299,575

 
(8,104
)
 
35

 
420,914

 
(25,959
)
 
52

 
720,489

 
(34,063
)
Commercial mortgage-backed securities
8

 
54,920

 
(884
)
 
4

 
21,531

 
(671
)
 
12

 
76,451

 
(1,555
)
States of the U.S. and political subdivisions
174

 
616,117

 
(24,296
)
 
37

 
110,429

 
(17,286
)
 
211

 
726,546

 
(41,582
)
Total temporarily impaired debt securities HTM
283

 
$
1,934,883

 
$
(59,182
)
 
97

 
$
901,853

 
$
(57,487
)
 
380

 
$
2,836,736

 
$
(116,669
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government-sponsored entities
4

 
$
54,790

 
$
(239
)
 
10

 
$
185,851

 
$
(4,149
)
 
14

 
$
240,641

 
$
(4,388
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities
36

 
648,485

 
(4,855
)
 
11

 
183,989

 
(4,203
)
 
47

 
832,474

 
(9,058
)
Agency collateralized mortgage obligations
14

 
275,290

 
(1,701
)
 
35

 
473,257

 
(18,394
)
 
49

 
748,547

 
(20,095
)
Commercial mortgage-backed securities
3

 
26,399

 
(123
)
 
2

 
19,443

 
(452
)
 
5

 
45,842

 
(575
)
States of the U.S. and political subdivisions
16

 
56,739

 
(933
)
 
37

 
121,536

 
(6,197
)
 
53

 
178,275

 
(7,130
)
Total temporarily impaired debt securities HTM
73

 
$
1,061,703

 
$
(7,851
)
 
95

 
$
984,076

 
$
(33,395
)
 
168

 
$
2,045,779

 
$
(41,246
)