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Securities (Tables)
 9 Months Ended
Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Securities Available-for-Sale
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 
 
As of September 30, 2017
 
As of December 31, 2016
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
42,567

 
$
14

 
$
(77
)
 
$
42,504

 
$
48,581

 
$
26

 
$
(66
)
 
$
48,541

U.S. agency securities
 
154,666

 
303

 
(362
)
 
154,607

 
183,528

 
519

 
(410
)
 
183,637

Collateralized mortgage
  obligations ("CMOs")
 
949,762

 
459

 
(12,999
)
 
937,222

 
1,064,130

 
969

 
(17,653
)
 
1,047,446

Other mortgage-backed
  securities ("MBSs")
 
358,746

 
307

 
(3,580
)
 
355,473

 
337,139

 
1,395

 
(5,879
)
 
332,655

Municipal securities
 
204,571

 
1,294

 
(841
)
 
205,024

 
273,319

 
1,245

 
(3,718
)
 
270,846

Trust-preferred
  collateralized debt
  obligations ("CDOs")
 
45,851

 
275

 
(15,300
)
 
30,826

 
47,681

 
261

 
(14,682
)
 
33,260

Equity securities
 
7,358

 
185

 
(215
)
 
7,328

 
3,206

 
147

 
(288
)
 
3,065

Total securities
  available-for-sale
 
$
1,763,521

 
$
2,837

 
$
(33,374
)
 
$
1,732,984

 
$
1,957,584

 
$
4,562

 
$
(42,696
)
 
$
1,919,450

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
14,638

 
$
—

 
$
(1,717
)
 
$
12,921

 
$
22,291

 
$
—

 
$
(4,079
)
 
$
18,212

Trading Securities
 
 
 
 
 
 
 
$
20,425

 
 
 
 
 
 
 
$
17,920
Securities Held-to-Maturity
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 
 
As of September 30, 2017
 
As of December 31, 2016
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
42,567

 
$
14

 
$
(77
)
 
$
42,504

 
$
48,581

 
$
26

 
$
(66
)
 
$
48,541

U.S. agency securities
 
154,666

 
303

 
(362
)
 
154,607

 
183,528

 
519

 
(410
)
 
183,637

Collateralized mortgage
  obligations ("CMOs")
 
949,762

 
459

 
(12,999
)
 
937,222

 
1,064,130

 
969

 
(17,653
)
 
1,047,446

Other mortgage-backed
  securities ("MBSs")
 
358,746

 
307

 
(3,580
)
 
355,473

 
337,139

 
1,395

 
(5,879
)
 
332,655

Municipal securities
 
204,571

 
1,294

 
(841
)
 
205,024

 
273,319

 
1,245

 
(3,718
)
 
270,846

Trust-preferred
  collateralized debt
  obligations ("CDOs")
 
45,851

 
275

 
(15,300
)
 
30,826

 
47,681

 
261

 
(14,682
)
 
33,260

Equity securities
 
7,358

 
185

 
(215
)
 
7,328

 
3,206

 
147

 
(288
)
 
3,065

Total securities
  available-for-sale
 
$
1,763,521

 
$
2,837

 
$
(33,374
)
 
$
1,732,984

 
$
1,957,584

 
$
4,562

 
$
(42,696
)
 
$
1,919,450

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
14,638

 
$
—

 
$
(1,717
)
 
$
12,921

 
$
22,291

 
$
—

 
$
(4,079
)
 
$
18,212

Trading Securities
 
 
 
 
 
 
 
$
20,425

 
 
 
 
 
 
 
$
17,920
Trading Securities
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 
 
As of September 30, 2017
 
As of December 31, 2016
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
42,567

 
$
14

 
$
(77
)
 
$
42,504

 
$
48,581

 
$
26

 
$
(66
)
 
$
48,541

U.S. agency securities
 
154,666

 
303

 
(362
)
 
154,607

 
183,528

 
519

 
(410
)
 
183,637

Collateralized mortgage
  obligations ("CMOs")
 
949,762

 
459

 
(12,999
)
 
937,222

 
1,064,130

 
969

 
(17,653
)
 
1,047,446

Other mortgage-backed
  securities ("MBSs")
 
358,746

 
307

 
(3,580
)
 
355,473

 
337,139

 
1,395

 
(5,879
)
 
332,655

Municipal securities
 
204,571

 
1,294

 
(841
)
 
205,024

 
273,319

 
1,245

 
(3,718
)
 
270,846

Trust-preferred
  collateralized debt
  obligations ("CDOs")
 
45,851

 
275

 
(15,300
)
 
30,826

 
47,681

 
261

 
(14,682
)
 
33,260

Equity securities
 
7,358

 
185

 
(215
)
 
7,328

 
3,206

 
147

 
(288
)
 
3,065

Total securities
  available-for-sale
 
$
1,763,521

 
$
2,837

 
$
(33,374
)
 
$
1,732,984

 
$
1,957,584

 
$
4,562

 
$
(42,696
)
 
$
1,919,450

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
14,638

 
$
—

 
$
(1,717
)
 
$
12,921

 
$
22,291

 
$
—

 
$
(4,079
)
 
$
18,212

Trading Securities
 
 
 
 
 
 
 
$
20,425

 
 
 
 
 
 
 
$
17,920
Remaining Contractual Maturity of Securities
Remaining Contractual Maturity of Securities
(Dollar amounts in thousands)
 
 
As of September 30, 2017
 
 
Available-for-Sale
 
Held-to-Maturity
 
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
One year or less
 
$
97,905

 
$
94,691

 
$
1,947

 
$
1,718

After one year to five years
 
303,899

 
293,924

 
6,065

 
5,354

After five years to ten years
 
—

 
—

 
2,243

 
1,980

After ten years
 
45,851

 
44,346

 
4,383

 
3,869

Securities that do not have a single contractual maturity date
 
1,315,866

 
1,300,023

 
—

 
—

Total
 
$
1,763,521

 
$
1,732,984

 
$
14,638

 
$
12,921
Securities Available-for-Sale Gains
The following table presents net realized gains on securities available-for-sale for the quarters and nine months ended September 30, 2017 and 2016.
Securities Available-for-Sale Gains
(Dollar amounts in thousands)
 
 
Quarters Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2017
 
2016
 
2017
 
2016
Gains on sales of securities:
 
 
 
 
 
 
 
 
Gross realized gains
 
$
3,197

 
$
187

 
$
3,481

 
$
1,266

Gross realized losses
 
—

 
—

 
—

 
(169
)
Net realized gains on sales of securities
 
3,197

 
187

 
3,481

 
1,097

Non-cash impairment charges:
 
 
 
 
 
 
 
 
Other-than-temporary securities impairment ("OTTI")
 
—

 
—

 
—

 
—

Net realized gains
 
$
3,197

 
$
187

 
$
3,481

 
$
1,097
Securities in an Unrealized Loss Position
The following table presents the aggregate amount of unrealized losses and the aggregate related fair values of securities with unrealized losses as of September 30, 2017 and December 31, 2016.
Securities in an Unrealized Loss Position
(Dollar amounts in thousands)
 
 
 
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
As of September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
16

 
$
30,469

 
$
51

 
$
5,998

 
$
26

 
$
36,467

 
$
77

U.S. agency securities
 
33

 
71,538

 
291

 
8,241

 
71

 
79,779

 
362

CMOs
 
195

 
607,645

 
7,680

 
241,930

 
5,319

 
849,575

 
12,999

MBSs
 
72

 
262,080

 
2,851

 
41,994

 
729

 
304,074

 
3,580

Municipal securities
 
138

 
42,951

 
461

 
17,045

 
380

 
59,996

 
841

CDOs
 
7

 
—

 
—

 
30,015

 
15,300

 
30,015

 
15,300

Equity securities
 
2

 
—

 
—

 
6,833

 
215

 
6,833

 
215

Total
 
463

 
$
1,014,683

 
$
11,334

 
$
352,056

 
$
22,040

 
$
1,366,739

 
$
33,374

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
10

 
$
—

 
$
—

 
$
12,921

 
$
1,717

 
$
12,921

 
$
1,717

As of December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
16

 
$
33,505

 
$
61

 
$
3,995

 
$
5

 
$
37,500

 
$
66

U.S. agency securities
 
28

 
62,064

 
364

 
11,814

 
46

 
73,878

 
410

CMOs
 
194

 
523,233

 
10,309

 
411,758

 
7,344

 
934,991

 
17,653

MBSs
 
68

 
221,174

 
4,726

 
77,780

 
1,154

 
298,954

 
5,880

Municipal securities
 
380

 
133,957

 
3,059

 
29,280

 
659

 
163,237

 
3,718

CDOs
 
7

 
—

 
—

 
30,592

 
14,682

 
30,592

 
14,682

Equity securities
 
2

 
404

 
201

 
2,319

 
86

 
2,723

 
287

Total
 
695

 
$
974,337

 
$
18,720

 
$
567,538

 
$
23,976

 
$
1,541,875

 
$
42,696

Securities Held-to-Maturity
 
 
 
 
Municipal securities
 
14

 
$
—

 
$
—

 
$
18,212

 
$
4,079

 
$
18,212

 
$
4,079