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Securities (Tables)
 3 Months Ended
Mar. 31, 2018
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 March 31, 2018
 
As of December 31, 2017
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
50,487

 
$
—

 
$
(296
)
 
$
50,191

 
$
46,529

 
$
—

 
$
(184
)
 
$
46,345

U.S. agency securities
 
160,936

 
146

 
(1,544
)
 
159,538

 
157,636

 
197

 
(986
)
 
156,847

Collateralized mortgage
  obligations ("CMOs")
 
1,213,796

 
147

 
(32,208
)
 
1,181,735

 
1,113,019

 
121

 
(17,954
)
 
1,095,186

Other mortgage-backed
  securities ("MBSs")
 
434,485

 
191

 
(11,314
)
 
423,362

 
373,676

 
201

 
(4,334
)
 
369,543

Municipal securities
 
217,855

 
170

 
(4,041
)
 
213,984

 
209,558

 
693

 
(1,260
)
 
208,991

Corporate debt securities
 
12,161

 
—

 
(21
)
 
12,140

 
—

 
—

 
—

 
—

Equity securities(1)
 
—

 
—

 
—

 
—

 
7,408

 
194

 
(305
)
 
7,297

Total securities
  available-for-sale
 
$
2,089,720

 
$
654

 
$
(49,424
)
 
$
2,040,950

 
$
1,907,826

 
$
1,406

 
$
(25,023
)
 
$
1,884,209

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
13,400

 
$
—

 
$
(2,113
)
 
$
11,287

 
$
13,760

 
$
—

 
$
(1,747
)
 
$
12,013

Equity Securities(1)
 
 
 
 
 
 
 
$
28,513

 
 
 
 
 
 
 
$
—

Trading Securities(1)
 
 
 
 
 
 
 
$
—

 
 
 
 
 
 
 
$
20,447


(1) 
As a result of accounting guidance adopted in the first quarter of 2018, equity securities are no longer presented within trading securities or securities available-for-sale and are now presented within equity securities in the Consolidated Statements of Financial Condition for the current period. For further discussion of this guidance, see Note 2, "Recent Accounting Pronouncements."
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 March 31, 2018
 
As of December 31, 2017
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
50,487

 
$
—

 
$
(296
)
 
$
50,191

 
$
46,529

 
$
—

 
$
(184
)
 
$
46,345

U.S. agency securities
 
160,936

 
146

 
(1,544
)
 
159,538

 
157,636

 
197

 
(986
)
 
156,847

Collateralized mortgage
  obligations ("CMOs")
 
1,213,796

 
147

 
(32,208
)
 
1,181,735

 
1,113,019

 
121

 
(17,954
)
 
1,095,186

Other mortgage-backed
  securities ("MBSs")
 
434,485

 
191

 
(11,314
)
 
423,362

 
373,676

 
201

 
(4,334
)
 
369,543

Municipal securities
 
217,855

 
170

 
(4,041
)
 
213,984

 
209,558

 
693

 
(1,260
)
 
208,991

Corporate debt securities
 
12,161

 
—

 
(21
)
 
12,140

 
—

 
—

 
—

 
—

Equity securities(1)
 
—

 
—

 
—

 
—

 
7,408

 
194

 
(305
)
 
7,297

Total securities
  available-for-sale
 
$
2,089,720

 
$
654

 
$
(49,424
)
 
$
2,040,950

 
$
1,907,826

 
$
1,406

 
$
(25,023
)
 
$
1,884,209

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
13,400

 
$
—

 
$
(2,113
)
 
$
11,287

 
$
13,760

 
$
—

 
$
(1,747
)
 
$
12,013

Equity Securities(1)
 
 
 
 
 
 
 
$
28,513

 
 
 
 
 
 
 
$
—

Trading Securities(1)
 
 
 
 
 
 
 
$
—

 
 
 
 
 
 
 
$
20,447


(1) 
As a result of accounting guidance adopted in the first quarter of 2018, equity securities are no longer presented within trading securities or securities available-for-sale and are now presented within equity securities in the Consolidated Statements of Financial Condition for the current period. For further discussion of this guidance, see Note 2, "Recent Accounting Pronouncements."
Equity 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 March 31, 2018
 
As of December 31, 2017
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
50,487

 
$
—

 
$
(296
)
 
$
50,191

 
$
46,529

 
$
—

 
$
(184
)
 
$
46,345

U.S. agency securities
 
160,936

 
146

 
(1,544
)
 
159,538

 
157,636

 
197

 
(986
)
 
156,847

Collateralized mortgage
  obligations ("CMOs")
 
1,213,796

 
147

 
(32,208
)
 
1,181,735

 
1,113,019

 
121

 
(17,954
)
 
1,095,186

Other mortgage-backed
  securities ("MBSs")
 
434,485

 
191

 
(11,314
)
 
423,362

 
373,676

 
201

 
(4,334
)
 
369,543

Municipal securities
 
217,855

 
170

 
(4,041
)
 
213,984

 
209,558

 
693

 
(1,260
)
 
208,991

Corporate debt securities
 
12,161

 
—

 
(21
)
 
12,140

 
—

 
—

 
—

 
—

Equity securities(1)
 
—

 
—

 
—

 
—

 
7,408

 
194

 
(305
)
 
7,297

Total securities
  available-for-sale
 
$
2,089,720

 
$
654

 
$
(49,424
)
 
$
2,040,950

 
$
1,907,826

 
$
1,406

 
$
(25,023
)
 
$
1,884,209

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
13,400

 
$
—

 
$
(2,113
)
 
$
11,287

 
$
13,760

 
$
—

 
$
(1,747
)
 
$
12,013

Equity Securities(1)
 
 
 
 
 
 
 
$
28,513

 
 
 
 
 
 
 
$
—

Trading Securities(1)
 
 
 
 
 
 
 
$
—

 
 
 
 
 
 
 
$
20,447


(1) 
As a result of accounting guidance adopted in the first quarter of 2018, equity securities are no longer presented within trading securities or securities available-for-sale and are now presented within equity securities in the Consolidated Statements of Financial Condition for the current period. For further discussion of this guidance, see Note 2, "Recent Accounting Pronouncements."
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 March 31, 2018
 
As of December 31, 2017
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
50,487

 
$
—

 
$
(296
)
 
$
50,191

 
$
46,529

 
$
—

 
$
(184
)
 
$
46,345

U.S. agency securities
 
160,936

 
146

 
(1,544
)
 
159,538

 
157,636

 
197

 
(986
)
 
156,847

Collateralized mortgage
  obligations ("CMOs")
 
1,213,796

 
147

 
(32,208
)
 
1,181,735

 
1,113,019

 
121

 
(17,954
)
 
1,095,186

Other mortgage-backed
  securities ("MBSs")
 
434,485

 
191

 
(11,314
)
 
423,362

 
373,676

 
201

 
(4,334
)
 
369,543

Municipal securities
 
217,855

 
170

 
(4,041
)
 
213,984

 
209,558

 
693

 
(1,260
)
 
208,991

Corporate debt securities
 
12,161

 
—

 
(21
)
 
12,140

 
—

 
—

 
—

 
—

Equity securities(1)
 
—

 
—

 
—

 
—

 
7,408

 
194

 
(305
)
 
7,297

Total securities
  available-for-sale
 
$
2,089,720

 
$
654

 
$
(49,424
)
 
$
2,040,950

 
$
1,907,826

 
$
1,406

 
$
(25,023
)
 
$
1,884,209

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
13,400

 
$
—

 
$
(2,113
)
 
$
11,287

 
$
13,760

 
$
—

 
$
(1,747
)
 
$
12,013

Equity Securities(1)
 
 
 
 
 
 
 
$
28,513

 
 
 
 
 
 
 
$
—

Trading Securities(1)
 
 
 
 
 
 
 
$
—

 
 
 
 
 
 
 
$
20,447


(1) 
As a result of accounting guidance adopted in the first quarter of 2018, equity securities are no longer presented within trading securities or securities available-for-sale and are now presented within equity securities in the Consolidated Statements of Financial Condition for the current period. For further discussion of this guidance, see Note 2, "Recent Accounting Pronouncements."
Remaining Contractual Maturity of Securities
Remaining Contractual Maturity of Securities
(Dollar amounts in thousands)
 
 
As of March 31, 2018
 
 
Available-for-Sale
 
Held-to-Maturity
 
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
One year or less
 
$
130,003

 
$
128,358

 
$
1,611

 
$
1,357

After one year to five years
 
184,271

 
181,940

 
5,459

 
4,598

After five years to ten years
 
127,155

 
125,546

 
2,195

 
1,849

After ten years
 
10

 
9

 
4,135

 
3,483

Securities that do not have a single contractual maturity date
 
1,648,281

 
1,605,097

 
—

 
—

Total
 
$
2,089,720

 
$
2,040,950

 
$
13,400

 
$
11,287
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 March 31, 2018 and December 31, 2017.
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 March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
22

 
$
32,744

 
$
222

 
$
60,664

 
$
74

 
$
93,408

 
$
296

U.S. agency securities
 
77

 
69,433

 
519

 
17,446

 
1,025

 
86,879

 
1,544

CMOs
 
238

 
524,167

 
9,432

 
621,039

 
22,776

 
1,145,206

 
32,208

MBSs
 
98

 
190,166

 
3,677

 
212,297

 
7,637

 
402,463

 
11,314

Municipal securities
 
447

 
74,891

 
1,210

 
103,638

 
2,831

 
178,529

 
4,041

Corporate debt securities
 
3

 
8,985

 
21

 
—

 
—

 
8,985

 
21

Total
 
885

 
$
900,386

 
$
15,081

 
$
1,015,084

 
$
34,343

 
$
1,915,470

 
$
49,424

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
8

 
$
—

 
$
—

 
$
11,287

 
$
2,113

 
$
11,287

 
$
2,113

As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
20

 
$
19,918

 
$
87

 
$
26,427

 
$
97

 
$
46,345

 
$
184

U.S. agency securities
 
72

 
66,899

 
300

 
58,021

 
686

 
124,920

 
986

CMOs
 
211

 
365,131

 
3,265

 
633,227

 
14,689

 
998,358

 
17,954

MBSs
 
86

 
126,136

 
902

 
210,017

 
3,432

 
336,153

 
4,334

Municipal securities
 
265

 
35,500

 
479

 
81,360

 
781

 
116,860

 
1,260

Equity securities(1)
 
2

 
391

 
214

 
6,386

 
91

 
6,777

 
305

Total
 
656

 
$
613,975

 
$
5,247

 
$
1,015,438

 
$
19,776

 
$
1,629,413

 
$
25,023

Securities Held-to-Maturity
 
 
 
 
Municipal securities
 
8

 
$
—

 
$
—

 
$
12,013

 
$
1,747

 
$
12,013

 
$
1,747


(1) 
As a result of accounting guidance adopted in the first quarter of 2018, equity securities are no longer presented within securities available-for-sale and are now presented within equity securities in the Consolidated Statements of Financial Condition for the current period. For further discussion of this guidance, see Note 2, "Recent Accounting Pronouncements."